Binny Ltd Approves Mortgage of 28.23 Acres Land for Rs.750 Crores Loan to SPR Construction

A meeting of the Board of Directors of Binny Ltd was held on [date]. The Board considered and approved the creation of a Mortgage over 28.23 acres of land out of the total joint venture land of 62.76 acres for a loan of Rs.750 crores being availed by SPR Construction Pvt Ltd from M/s. OCM India opportunities XII Alternate Investment Fund — Scheme I. The loan is for construction purposes in the Perambur project under a Joint Development Agreement. Binny Ltd is neither a guarantor nor a borrower for this loan, and SPR Construction Pvt Ltd is solely responsible for the interest payments and principal repayment obligations.