NRB Industrial Bearings Limited — Important, 18-02-2025: General Updates

The NRB Group and NIBL Group have executed a family settlement agreement to resolve all matters regarding a loan provided by the late Mr. Trilochan Santsingh Sahney. Under this agreement, Mrs. Hanwantbir Kaur Trilochan Singh Sahney and Ms. Harshbeena S. Zaveri have relinquished their rights to the loan in favor of Mr. Deveshsingh Trilochansingh Sahney. Additionally, the Board of Directors approved the execution of a Renunciation of Rights on Loan Agreement, whereby Mrs. Sahney and Ms. Zaveri have irrevocably renounced all claims related to the loan, which will now be transferred to Mr. Sahney. This development streamlines financial obligations within the group and could facilitate smoother operations moving forward. Shareholders should observe how this change impacts the company’s financial position.