Alankit Limited — Important, 24-12-2024: Disclosure of material issue

Alankit Limited has reached a settlement in a significant arbitration matter with Protean eGov Technologies Limited, resolving claims amounting to ₹68.5 Crores. The final settlement totals ₹38.06 Crores, with ₹28.54 Crores offset as a counterclaim and ₹9.52 Crores to be received post-settlement. This resolution reflects the company's commitment to protecting its financial interests and is expected to enhance its financial standing considerably, offering a positive outlook for stakeholders. The settlement reinforces Alankit's operational stability and mitigates potential risks associated with prolonged arbitration proceedings. Investors should view this development as a solid step forward for the company's financial health.