OCL Iron & Steel

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This is with reference to our earlier corporate announcement dated May 12 2023 in which we have updated about the particulars of the implementation of the resolution plan. In this connection please note that in point no. 2 and in point no. 3 of the aforesaid announcement inadvertently we have mentioned the date of appointment and the date of deemed resignation/vacation as 4th May 2023 instead of 3rd May 2023. However it is now being rectified that the date of appointment and date of deemed resignation/vacation is 3rd May 2023.Further it is pertinent to mention here that there is no other change in the file which we have submitted on May 12 2023 except as mentioned above.

Post the approval of Resolution Plan with NCLT we wish to inform you that as part of the process involved in the implementation of the approved Resolution Plan the Monitoring Committee in consultation with the successful Resolution Applicant has approved the following:1. Re-organization of the capital structure of the Corporate Debtor2. The Monitoring Committee has approved the appointment of individuals as proposed by the Resolution applicant as the directors of the Company with effect from 04th May 2023 to hold office up to the conclusion of the next Annual General Meeting of the Company.3. In accordance with the provisions of the Approved Resolution Plan the Monitoring Committee has taken on record the vacation of office of the existing directors of the company with effect from the Effective Date i.e. 04th May 2023.4. Formation of a Auto Division Sale Committee 5. Delisting of the Corporate Debtor6. Handover of the Company

1. Pursuant to the resolution plan the RA has proposed the appointment of the following persons to act as directors of the Company namely; 1. Mr. Ramesh Hamirwasia (DIN 05269644) 2. Mr. Deep Chand Lamba (DIN 06546108) and 3. Mr. Suraj Singh (having DIN 09272571)Accordingly the Monitoring Committee has approved the appointment of abovementioned individuals as the directors of the Company with effect from 04th May 2023.3. In accordance with the provisions of the Approved Resolution Plan the following individual(s) being the suspended director(s) of the Company shall be deemed to have vacated :1. Sanjay Tiku (DIN: 00300566)2. Nilesh Bahri (DIN: 07114456)3. Bhawani Prasad Mishra (DIN: 07673547)4. Sanjeev Agraj (DIN: 08882503)Accordingly the Monitoring Committee has taken on record the vacation of office of the existing directors of the company as mentioned above with effect from the Effective Date i.e. 04th May 2023 in accordance with the terms of the Resolution Plan.

Implementation of the approved Resolution Plan of OCL Iron and Steel Limited (Company) (hereinafter referred as Corporate Debtor) pursuant to the order of the Honble National Company Law Tribunal Cuttack Bench (NCLT). Post the approval of Resolution Plan with NCLT we wish to inform you that as part of the process involved in the implementation of the approved Resolution Plan based on the powers vested with the Monitoring Committee the Monitoring Committee in consultation with the successful Resolution Applicant has approved the matters as provided in the attachment.

Pursuant to Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended from time to time please find enclosed herewith the Annual Secretarial Compliance Report issued by Mr. Pallav Goel proprietor of Pallav Goel & Associates Practicing Company Secretaries for the financial year ended March 31 2023.