North Hutti Block Prospecting Licence (PL) Applications Of Deccan Exploration Services Private Limited (DESPL), Our Wholly Owned Subsidiary – Order Passed By The Commerce & Industries Department, Government Of Karnataka (C & I)

We write to intimate that DESPL has received an Order (dated February 14, 2022 & received on February 28, 2022) passed
by the Secretary, C & I with regard to its North Hutti Block PL applications. The C & I has ordered that the 8 Prospecting
Licences filed by DESPL over the North Hutti Block in Karnataka have not fulfilled the requirements of Section 10A (2)(b) of
the MMDR Act, 1957. Further, the PL applications have lapsed as per Proviso No. 1 to Section 10A(2)(b) inserted vide MMDR Amendment
Act, 2021 with effect from March 28, 2021.

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