In accordance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulation, 2018 for the quarter ended 30th June 2025, we hereby confirm that the said regulation is not applicable to the Company as the entire holding of the Company is in demat and have not received any request from members of the Company for dematerializations or rematerialization during the quarter ended on 30th June, 2025.