Adani Ports and Special Economic Zone Ltd's resolution plan for Dighi Port Ltd. approved.

Adani Ports and Special Economic Zone Limited (the "Company") had submitted a resolution plan in the Corporate Insolvency Process of Dighi Port Limited ("DPL") on November 22, 2018, along with an improved resolution plan dated January 23, 2019 and addendum dated January 29, 2019. The committee of creditors ("CoC") of DPL did not approve our resolution plan. Subsequently, in light of certain developments, the CoC reinitiated the bid process and the Company was provided another opportunity to submit an offer. In pursuance thereof, the Company submitted its revised resolution plan on September 4, 2019 and September 12, 2019. The Resolution Professional ("RP") of DPL informed us through an email on September 21, 2019, that the members of the CoC have approved the resolution plan submitted by the Company. The Company had sought certain clarifications from the RP, in respect of this email, which were provided by the RP on September 23, 2019.

Further, the fluctuation in the share price of the Company is purely market driven. Until receipt of the email dated September 21, 2019 from the RP and the relevant clarifications dated September 23, 2019, the decision of the CoC had not been formally communicated to the Company. It may further be noted that the resolution plan approved by the CoC is further subject to the approval of the Hon'ble National Company Law Tribunal.

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