Polo Queen Industrial and Fintech Ltd — Updates, 04-06-2025: Company Update

June 4, 2025

To,

BSE Limited

Phiroze Jeejeebhoy Towers,

Dalal Street, Fort,

Mumbai - 400001

Scrip Code: 540717

Metropolitan Stock Exchange of India Ltd

Vibgyor Towers, 4th Floor,

Plot No.C-62, G- Block,

Bandra-Kurla Complex, Bandra (East),

Mumbai – 400098

Symbol: PQIF

Dear Sir/ Madam,

Sub: Intimation regarding receipt of administrative warning received from the Securities and Exchange Board of India (SEBI)

in relation to non-compliance with SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 (“SEBI

Listing Regulations”)

Ref No.: SEBI/HO/CFD/SEC-1/OW/P/2025/14112/1 dated May 27, 2025

Further to our intimation dated May 30, 2025 and pursuant to Regulation 30 of the SEBI Listing Regulations, we hereby inform

you that the Company has received an administrative warning dated May 27, 2025, from SEBI in relation to non-compliance

with the provisions of the Regulation 4(1)(d) and 4(1)(i) read with Regulation 30(11) SEBI Listing Regulations.

The said warning was issued regarding the Company’s Corporate Announcement dated January 29, 2025, made in response to

the query raised by BSE Limited regarding certain information circulated on the social media platforms. SEBI has observed that

while the Company had denied all the claims made in social media, the disclosure made was generic in nature and did not

provide specific responses to the claims.

Further we would like to clarify that this has no impact on financial, operation or other activities of the listed entity.

A comprehensive disclosure addressing and refuting all the claims was already provided in our intimation dated May 30, 2025.

The letter received from SEBI, pursuant to the instructions from BSE Limited, is enclosed herewith as Annexure I.

We request you to kindly take the above on record.

Thanking You,

For Polo Queen Industrial and Fintech Limited

_______________________

Prabhas Jiwanram Sanghai

Executive Director

DIN: 00302947

Encl: a/a

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Z— Securities and Exchange Board of India

General Manager

Supervision Enforcement and Complaints (SEC-5)

Corporation Finance Department (CFD)

SEBI/HO/CFD/SEC-1/0W/P/2025/14112/1

May 27, 2025

Polo Queen Industrial and Fintech Limited

303/4/5, A to Z Industrial Premises, G. K. Marg,

Lower Parel (West),

Mumbai-400013.

Kind Attention: Shri. Umesh Kumar Agarwalla, Executive Director

Sub: Administrative Warning in relation to non-compliance with the provisions

of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

(“LODR Regulations”).

Sir,

1. This has reference to the Corporate Announcement made by Polo Queen Industrial

and Fintech Limited (‘the Company”) on January 29, 2025 in response to the query

raised by BSE on January 27, 2025.

2. In this regard, it is noted as under:

e BSE had, vide a letter dated January 27, 2025 sought comments of the

Company regarding various information referred in the videos / news articles

circulated in social media including the following:

» The Company has received an order worth Rs. 3000 Crore from France

based company Capgemini to build an IT park in Vietnam.

» The Company reported a revenue of Rs. 1800 Crore for the year ended

March 2024, which is 60% rise from previous Financial year.

> PIE of the company is 26.

> Promoter holding in the company is 65%.

» The Company may declare dividend.

e The Corporate Announcement made by the Company on January 29, 2025 in

response to the aforesaid BSE query contained the following disclosure:

= This is in reference to your query dated January 27, 2025, regarding certain

S aily, . i i . . B : & deos circulating on social media platforms, such as YouTube, which contain /\%&

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‘bmvf' SEBI Bhavan, “G" Block, Bandra Kurla Complex, Mumbai — 400 051

www.sebi.gov.in | 022 - 2644 9000 / 4045 9000

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A < Securities and Exchange Board of India Continuation:

false information about the Company. We would like to clarify that the Company

has formally responded to BSE Limited through a letter dated January 27, 2025,

firmly denying all claims made in these videos. The content of the said videos

is entirely incorrect and misleading, creating a false narrative about the

Company and its operations.

o In this regard, it is observed that while the Company had denied all the claims

made in social media, the aforesaid Corporate Announcement did not contain

specific information about the claims made in social media such as business

connection with Capgemini, specifically about receipt of an order worth Rs.

3000 Crore from Capgemini to build an IT park in Vietnam, dividend declaration

plan, comments on revenue, etc. The disclosure was merely a generic

disclosure, thus, the very purpose of the disclosure seemed to be defeated.

Therefore, the disclosure made by the Company appears to be inadequate.

¢ Inview of the above, by not disclosing the adequate information, the Company

is in non-compliance with the provisions of the Regulation 4(1)(d) and 4(1)(i)

read with Regulation 30(11) of SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015 (‘LODR Regulations”).

3. Above non-compliances have been viewed seriously and you are hereby warned and

advised to be careful in future to avoid recurrences of such lapses. Any repetition of

the same violation in future will be viewed seriously and appropriate enforcement

action would be initiated in accordance with the provisions of the SEBI Act, 1992, the

rules or the regulations issued thereunder.

4. You are advised to make adequate disclosure containing specific details on the Stock

Exchange(s) on an immediate basis. You are also advised to place this Administrative

Warning before your Board of Directors and to make requisite disclosure w.r.t. the

same on the Stock Exchange(s).

5. The necessary disclosures shall be made forthwith by the Company in accordance

with the provisions of the LODR Regulations.

Yours faithfully,

D Sl W“‘;‘%’

oft Frefa AgdEn

Shri Nirmal Mehrotra

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