Mumbai: This is with reference to our disclosure dated 15 March 2024, informing that Star India Pvt  Ltd (“Star”) has initiated arbitration proceedings against the Company, under the alliance agreement dated 26  August 2022, entered between Star and the Company, by filing a request for arbitration (“Application”) under the Arbitration Rules of the London Court of  International Arbitration (“LCIA”).

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that, on September  16, 2024, Star has filed its Statement of Case before the LCIA Arbitral Tribunal, in which it has,  inter alia, sought to declare that the Alliance Agreement between Star and the Company has been validly terminated by Star and damages to be determined as of the date of the Tribunal’s award (with such damages quantified, as at 31 August 2024 as proxy date of the award, at  US$940 million) along with costs, expenses and applicable interest until full payment.

The Company categorically refutes all claims and assertions made by Star including its claims for damages. The arbitration is at its initial stage and the LCIA Arbitral Tribunal is yet to determine if the Company is liable in any manner. The Company will, on merits, strongly contest all unfounded claims by Star and reserves all its rights.