LITIGATION INVOLVING OUR DIRECTORS

Outstanding criminal litigation involving our Directors

Criminal proceedings against our Directors

There are no criminal proceedings pending against our Directors.

Criminal proceedings by our Directors

There are no criminal proceedings pending which have been initiated by our Directors.

Outstanding material civil litigation involving our Directors

Civil proceedings against our Directors

There are no material civil proceedings pending against our Directors.

Civil proceedings by our Directors

There are no material civil proceedings pending which have been initiated by our Directors.
Outstanding actions by statutory or regulatory authorities against any of our Directors

The Assistant Director General of Foreign Trade, Ministry of Commerce & Industry, Government of
India (“DGFT”) issued a show cause notice dated October 12, 2017 against Magnetic Electronics
Devices Private Limited (“MEDPL”), Sundararaman Kalyanaraman, ex-director of MEDPL, and certain
other individuals for alleged failure to discharge export obligations with respect to quantity based
advance authorization which was granted to them. The notice required the noticees to submit certain
documents evidencing fulfillment of export obligations to avoid any violation of the Foreign Trade
(Development and Regulation) Act, 1992. MEDPL filed a response dated November 15, 2017 denying
the violation. However, the DGFT passed an order dated November 15, 2017 pursuant to the show cause
notice imposing a penalty of 2 0.10 million on MEDPL. MEDPL filed an appeal dated December 13,
2017 against the impugned order of DGFT praying the impugned order and the show cause notice to be
set aside. The matter is pending before DGFT.

Outstanding tax proceedings involving our Directors

There are no direct or indirect tax proceedings pending involving our Directors.

LITIGATION INVOLVING OUR PROMOTER

Outstanding criminal litigation involving our Promoter

Criminal proceedings against Srinivasan Ravi

There are no criminal proceedings pending against Srinivasan Ravi.

Criminal proceedings by Srinivasan Ravi

There are no criminal proceedings pending which have been initiated by Srinivasan Ravi.

Outstanding material civil litigation involving our Promoter

Civil proceedings against Srinivasan Ravi

There are no material civil proceedings pending against Srinivasan Ravi.

Civil proceedings by Srinivasan Ravi

327
