Almondz Global Securities Limited — Important, 11-11-2024: Updates

Almondz Global Securities Ltd. has disclosed that its wholly-owned subsidiary, Almondz Global Infra-Consultant Limited (AGICL), has received a Notice of Debarment from the National Highways Authority of India (NHAI). This notice prohibits AGICL from bidding on NHAI projects for a duration of two years, effective from March 13, 2024. The subsidiary is currently in the process of challenging this order in court. This development could impact AGICL’s future project opportunities and revenue generation, necessitating close monitoring by shareholders.