10.

11.

12.

13.

deployed the minimum number of WLAs, as required under the WLA Guidelines and provided revised
the deployment targets for our Company. Our Company had by way of its letter dated December 24,
2019 responded to the RBI providing reasons for the non-compliance as well as undertaking to achieve
the revised deployment targets.

Subsequently, our Company received a show-cause notice dated July 27, 2020 from the RBI stating
that our Company’s explanation for non-compliance were found to be unacceptable and in
contravention of the PSS Act and directing our Company to show cause as to why action under Section
8 of the PSS Act should not be initiated. Our Company filed a letter dated August 10, 2020 with certain
submissions including a request to RBI to condone the violations as highlighted by the RBI and a
request for a personal hearing. A personal hearing was held with the Committee of Chief General
Managers on October 1, 2020. Separately, our Company sent a letter to the RBI on December 4, 2020
requesting for the suspension on fresh deployment of ATMs to be revoked. Thereafter, the RBI by way
of its order dated March 4, 2021 revoked the authorisation granted to our Company in relation to
setting up, owning and operating WLAs.

Our Company received a notice dated October 20, 2021 from the Office of the Additional Labor
Commissioner, Jamshedpur, stating that two employees of one of our contractors, Global Force
Management Services Private Limited, had filed a complaint in the above office stating that they were
discharged from their employment without any reason. The notice required the contractor to pay the
arrears of salary, and join the investigation along with the relevant records, on December 21, 2021. The
matter is still pending.

Our Company was sent a showcause notice dated March 24, 2021 from the Deputy Director of the
Regional Office, Employees’ State Insurance Corporation (“ESIC Director”) alleging that the
Company had failed to pay the contributions and submit the returns for the period between March,
2016 and September, 2020, aggregating to 20.45 million. Our Company received another letter dated
June 21, 2021, in this connection. Subsequently, by an order dated September 15, 2021, the ESIC
Director directed the Company to pay 0.42 million in contributions with a period of 60 days from the
order (“ESIC Order”). By a letter dated November 9, 2021, our Company appealed against the ESIC
Order under Section 45AA of the ESIC Act (“ESIC Appeal”), on the grounds that the ESIC code in
connection with which the order was passed was not within the knowledge of the Company, and that
the relevant office of the Company had been assigned a different sub-code from the one cited in the
ESIC Order. Further, all but one employee at such location received a salary greater than 715,000 and
221,000 per month, thereby bringing them outside the ambit of the ESIC Act for the relevant period in
the ESIC Order. The Company had duly paid the contributions in connection with one such employee
who fell within the ambit of the ESIC Act during the relevant period. In accordance with the
requirements of Section 45AA, our Company has deposited 25% of the amount imposed under the
ESIC Order with the relevant authority and provided the relevant documents in connection with the
claims made in the ESIC Appeal. The matter is currently pending.

Our Company was issued a show cause notice dated May 24, 2021 from the Assistant Director, New
Delhi of the Employees’ State Insurance Corporation in connection with the contributions payable
under the ESIC Act for the period between October, 2019 and February, 2021. The letter also requested
our Company to provide accompanying documents for the ESIC contributions relating to the period
above. Subsequently, our Company also received a letter dated July 12, 2021 (together, the “ESIC
Letters”) in this regard. Our Company, through its letter dated November 26, 2021, stated that, in
relation to the relevant establishment specified in the ESIC Letters, no employees were covered under
the ambit of the ESIC Act, and therefore no contributions were paid during the relevant period. Our
Company has not received any further communications on this matter.

Our Company received an inspection order dated October 4, 2021 from the Office of the Assistant
Inspector of Labour, Labour Department, Government of Tamil Nadu, which alleged that, based on
inspections carried out at the relevant premises of our Company, prima facie contraventions of the
Tamil Nadu Shops and Establishments Rules, 1948 had been observed, such as failure to maintain a
register of fines, deductions and damages, failure to maintain the register of wages in the prescribed
form and a failure to provide a wage slip to every employee one day prior to the disbursement of wages
in the prescribed form. Our Company was given an opportunity to rectify the defects so identified
within 15 days of the above inspection order, failing which a show cause notice would be issued. Our
Company has responded to the inspection order and provided the required documentation. Pursuant to

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