Bannari Amman Spinning Mills Limited — Important, 02-08-2025: Disclosure of material issue

Bannari Amman Spinning Mills (BASML) has clarified an issue concerning property mortgage registration. A Sub-Registrar refused to register a mortgage on company-owned land because their records had discrepancies compared to BASML's title documents.

**Issue:** The refusal to register a mortgage on company land due to inconsistent records between the Sub-Registrar and BASML's title documents.

**Possible Impact:** BASML states there is currently **no financial or operational impact** from this issue, and no violation was committed by the company.

**Company's Response/Mitigation:** BASML has submitted all necessary title documents and revenue records to the department to reconcile the discrepancy. The matter is now pending resolution with the District Registrar.