I.

housing loan availed from our Bank as per stipulated agreement. The amount involved in the matter is = 0.60
million. The matter is currently pending.

4. A criminal complaint has been filed by our Bank against Machindra Pandit Borse, Jayshree Machindra Borse
and M/S. Swami Creations through its partner, Anant Bhimrao Chavan at the police station, Sinhgadh, Pune,
alleging inter alia for wrongful loss caused to our Bank, criminal breach of trust, cheating and conspiracy.
The complaint has been filed alleging failure in completion of house for which housing loan availed from our
Bank as per stipulated agreement. The amount involved in the matter is = 1 million. The matter is currently
pending.

As of the date of this Prospectus, there are 1,118 cases filed by our Bank under the Negotiable Instruments Act, 1881
in relation to dishonour of cheques. The total amount involved in all these matters is of = 287.94 million. These matters
are currently pending.

Litigation involving our Directors
Ranjit Shah

The liquidator in proceedings under the Insolvency and Bankruptcy Code, 2016, as amended (“IBC”) initiated against
Carnation Auto India Private Limited (“Carnation”) by its creditor, Punjab National Bank, filed a company
application (No. 324/2019) (“Company Application”) before the National Company Law Tribunal, New Delhi Bench

VI (“NCLT, Delhi’). The Company Application alleged that Carnation engaged in, among other things, preferential,
undervalued and extortionate transactions, writing off of bad debts and advancement of loans to related parties, with
the intention to defraud the creditors of Carnation or for other fraudulent purposes. The liquidator sought directions
from the NCLT, Delhi requiring the directors of Carnation and persons related to them to make good the losses
allegedly suffered by Punjab National Bank due to the alleged default of Carnation under its loan agreement with
Punjab National Bank and also sought directions for the respondents to make contributions to the assets of Carnation
for an amount of approximately = 43,770.16 million, inter alia, in relation to writing off bad debts, non-recovery of
loans given to related parties, etc by Carnation. Ranjit Shah, in his capacity as an erstwhile nominee director and a
non-executive director (on behalf of GPE (India) Limited, Gaja Trustee Company Private Limited as trustee of Gaja
Capital India Fund-I, and GPE JV2 Limited) on the board of directors of Carnation, was included as one of the
respondents. Nominee directors appointed by other investors and other individuals are also arrayed as respondents.
Ranjit Shah filed a preliminary reply to the Company Application, and separately filed a miscellaneous application
before the NCLT, Delhi, seeking dismissal of the Company Application and/or the deletion of his name as a party to
the Company Application, and further, stay of such proceedings pending the hearing and disposal of the miscellaneous
application. Thereafter, the NCLT, Delhi dismissed the Company Application. Subsequently, the liquidator has filed
an appeal (Company Appeal (AT) (Insolvency) (No. 743/2020) before the National Company Law Appellate Tribunal
challenging the order of the NCLT, Delhi. Certain Respondents, including Ranjit Shah, have filed their respective
affidavits in reply to the appeal. The matters are currently pending.

Aleem Remtula

An original suit, ie. CS No 143 of 2012 (“Suit”) has been filed under Order VII Rule 1 read with Section 92 of the
Code of Civil Procedure, 1908 before the Hon’ble Madras High Court (“Court”) alleging diversion of funds from the
Maha Semam Trust (“Trust”) to S.M.LL.E. Microfinance Limited (“SMILE”). Aleem Remtula (“Defendant”) is a
director on the board of directors of SMILE nominated by M/s DWM Investments (Cyprus) Limited and has
consequently been made party to the Suit. There are no express allegations against the Defendant in the Suit and no
relief is claimed against him in his individual and, or personal capacity. Subsequent to the Suit being filed, the
Defendant filed an application being Application Number 2928 of 2012 for striking out his name as defendant in the
Suit. The Court through an order (“Order”) allowed the said application and held that as there was no cause of action
against the Defendant and he was neither necessary nor proper party to the Suit. However, an appeal, OSA No 96 of
2014, has been preferred against the Order passed in respect of the above application and it has been prayed that the
aforesaid Order should be set aside. The said appeal is pending final disposal and no orders have been passed in the
said appeal.

Outstanding dues to Creditors

Our Bank, in its ordinary course of business, has trade payables which are due towards micro, small and medium enterprises
and creditors (other than micro, small and medium enterprises). As of December 31, 2020, the total number of creditors of our
Bank is 679 and the total outstanding dues to these creditors by our Bank is = 48 million. There are no outstanding dues payable
to micro, small and medium enterprises. Details of outstanding dues owed by our Bank as on December 31, 2020 are set out

below.

 

 

 

Micro, small and medium enterprises - Nil

Particulars Number of creditors | Amount (% in million)

 

 

 

 

339
