Code of Conduct - INDU ENGINEERING & TEXTILES LIMITED

The Code of Conduct For Board Members and Senior Management Personnel

INDU ENGINEERING & TEXTILES LIMITED (the Company), having our Registered Office at 12/16-A Nawal Ganj, Nunhai, Agra-282006, hereby gives the following declarations and undertaking for non-applicability of Corporate Governance, as the Company is having equity share capital and net worth of less than Rs. 10 crore and Rs. 25 crore respectively.

Applicability of Clause 49 of the Listing Agreement

(Read with Regulation 27(2) of SEBI Listing Regulations 2015 (LODR))

Applicability of Clause 49 shall extend to all listed companies except:

companies with equity share capital of less than Rs. 10 crore,
companies having net worth not exceeding Rs. 25 crore, and
Companies listed on SME and SME-ITP platforms of the stock exchanges.

However, it has been clarified by SEBI that the exemption is “for the time being”, and in case applicability of Clause 49 is extended to the exempted categories in future, then such companies shall have 6 (six) months to comply with the provisions of Clause 49.