Usher Agro provides business update

Intimates of winding up petitions filed against Usher Agro

Usher Agro announced that the Company had received notices for winding up petition file against Company by

- CFSIT Inc. USA for recovery of their outstanding dues of Rs. 6548.14 lakhs ($ 10 Million) with interest @12% p.a. as per advance payment & supply contract.

- PT Bank Maybank Indonesia Tbk, Mumbai for recovery of their outstanding dues of Rs. 1778.18 lakhs with interest @16.4%. p.a.

The above petitions are merely file, but not admitted. Further the Company will take suitable legal action in consultation with its legal counsels.

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