21.

22.

our employees, which may adversely affect our reputation, cash flows, financial condition and results of
operations” on page 36. There have also been instances where such third-party providers have initiated
legal proceedings against us, which may impede our ability to operate or offer our products and services
efficiently. For example, M/s Task Force Security Company Private Limited filed a petition dated
October 1, 2020 before the Micro and Small Enterprises Facilitation Council, Chennai Region,
requesting the council to direct SVIL to pay the sum of %7.73 million with interest for the supply of
manpower. SVIL has been informed that the matter has subsequently been closed. SVIL is currently in
the process of obtaining a copy of the relevant order. For further details, see “Outstanding Litigation and
Material Developments — Litigation Involving our Subsidiaries” on page 367. Should we experience a
disruption in the supply, or quality, of these services or products, or if such contracts for services expire,
we may not be able to find a replacement or renew our contracts, as the case may be, in a timely fashion,
on favourable terms or at all, and we could suffer a significant disruption in our business, which could
have an adverse effect on our business, reputation, results of operations, cash flows and financial
condition.

Our new service and product developments may not be successful, which could have an adverse effect
on our business, results of operations, cash flows and financial condition.

We are constantly looking to develop new services and products that complement or leverage the
underlying design or process technology of our current service and product offerings. For the five months
ended August 31, 2021 and the financial years 2021, 2020 and 2019, our aggregate revenue from new
services and products, such as Fastlane, was 0.02%, 0.02%, 0.02%, and 0.01% of our total revenue from
operations, respectively. We make significant investments in service and product technologies and
anticipate expending significant resources for direct consumer-based businesses over the next several
years. For example, we intend to grow our digital fuelling payments business by attracting more
consumers to join our Fastlane ecosystem. We have limited experience in developing and implementing
direct consumer-based businesses, and may fail to accurately understand consumer demand, market
requirements and the opportunities and risks of such developments. We cannot assure you that our
service and product development and marketing efforts will be successful, which may have an adverse
effect on our business, results of operations, cash flows and financial condition.

We may also require approvals from regulatory authorities before we commence offering certain
products and services. For example, we are required to obtain certain regulatory approvals and comply
with applicable regulations under the terms of the PPI authorisation issued by the RBI to our subsidiary,
ITSL. If we fail to do so, we may lose a part or all of the costs incurred in the development of such
offerings with third parties, or discontinue these offerings, or have strategic relationships damaged, which
could in turn adversely affect our business, results of operations, cash flows and financial condition.

As part of our growth strategy, we intend to diversify our products and services portfolio and in doing so,
we may encounter certain additional risks including management and market-related risks. We cannot
assure you that such diversification or expansion of operations will yield favourable or expected results,
as our overall profitability and success will be subject to various factors, including, among others, our
ability to effectively recruit, retain and motivate appropriate and experienced operational and managerial
talent. Our inability to effectively manage any of these issues could adversely affect our business and
future financial performance.

Potential new currency designs may require modifications to certain automated banking products in
our portfolio that could have an adverse effect on our business, results of operations, cash flows and
financial condition.

Any change to the feature of currencies in any of the countries we operate in that may be processed or
dispensed from our automated banking products, such as to the size or the addition of tactile features
onto notes, could require modifications to our automated banking products. For example, the RBI has, in
the recent past, issued new @ 10, 20, 2 50, = 200, = 500 and % 2,000 denomination bank notes. Any part
of the modification costs which we may be required to bear could be substantial, which could have an
adverse effect on our business, results of operations, cash flows and financial condition.

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