Prohibition by SEBI or other Governmental Authorities

Our Bank, Promoters, members of the Promoter Group, Directors and each of the Selling Shareholders, are not prohibited from
accessing the capital market or debarred from buying, selling or dealing in securities under any order or direction passed by
SEBI or any securities market regulator in any other jurisdiction or any other authority/court.

Our Directors and Promoters are not directors or promoters of any other company which is debarred from accessing the capital
markets by SEBI.

Our Bank, Promoters or Directors have not been declared as Wilful Defaulters.
Our Promoters or Directors have not been declared as Fugitive Economic Offenders.
Directors associated with the Securities Market

Our Director, Jyotin Kantilal Mehta, is also a director on the board of directors of ASK Property Investment Advisors Private
Limited and ASK Investment Managers Limited, which are SEBI registered entities and accordingly he is associated with the
securities market. There are no outstanding actions initiated by SEBI against such entities.

Confirmation under Companies (Significant Beneficial Owners) Rules, 2018

Our Bank, Promoters and members of the Promoter Group are in compliance with the Companies (Significant Beneficial
Owners) Rules, 2018, as amended, to the extent applicable, as on the date of this Prospectus.

Each of the Selling Shareholders, severally and not jointly, has confirmed that they are in compliance with the Companies
(Significant Beneficial Owners) Rules, 2018, as amended, to the extent applicable to them, as on the date of this Prospectus.

Eligibility for the Issue

Our Bank confirms that it is not ineligible to make the Issue in terms of Regulation 5 of the SEBI ICDR Regulations, to the
extent applicable. Except for Equity Shares that may be allotted pursuant to the conversion of vested employee stock options,
if any granted under the ESOP 2016 and ESOP 2019, there are no outstanding warrants, options or rights to convert debentures,
loans or other instruments convertible into, or which would entitle any person any option to receive Equity Shares, as on the
date of this Prospectus.

Our Bank confirms that it is also in compliance with the conditions specified in Regulation 7(1) of the SEBI ICDR Regulations,
to the extent applicable, and has ensured compliance with the conditions specified in Regulation 7(2) of the SEBI ICDR
Regulations, to the extent applicable.

Each Selling Shareholder, severally and not jointly, has confirmed that it has held its respective portion of the Offered Shares
for a continuous period of at least one year prior to the date of the Draft Red Herring Prospectus and accordingly it is in
compliance with Regulation 8 of the SEBI ICDR Regulations. Therefore, the Equity Shares that will be offered by it in the
Offer for Sale are eligible to be offered for sale in the Issue.

Our Bank is eligible for the Issue in accordance with Regulation 6(1) of the SEBI ICDR Regulations as set out under the
eligibility criteria calculated in accordance with the Restated Financial Statements:

(a) Our Bank has had net tangible assets of at least = 30 million, calculated on a restated basis, in each of the preceding
three full years (of 12 months each), of which not more than 50% are held in monetary assets;

(b) Our Bank has an average operating profit of at least = 150 million, calculated on a restated basis, during the preceding
three years (of 12 months each), with operating profit in each of these preceding three years;

(c) Our Bank has a net worth of at least = 10 million in each of the preceding three full years (of 12 months each),
calculated on a restated basis; and

(d) Our Bank has not changed its name in the last one year.
Our Bank’s net tangible assets, monetary assets, monetary assets as a percentage of the net tangible assets, operating profits
and net worth, derived from the Restated Financial Statements included in this Prospectus as at, and for the last three Fiscals,

are set forth below:

(@ in million, unless otherwise stated)

 

 

 

 

Fiscal 2020 Fiscal 2019 Fiscal 2018
Net tangible assets, as restated”) (A) 53,117.67 37,353.45, 21,406.78
Monetary assets, as restated”) (B) 8,375.98 2,763.62 2,071.62

 

 

 

 

 

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