Panorama Studios International Ltd

With reference to compliance Under Regulation 32(1) (a) and (b) of the Securities Exchange Board of India (LODR) Regulation 2015 the Company hereby submits to the Stock Exchange statement of deviation(s) or variation(s) in the utilization of funds raised by the Company for the F Y 2019-20 and 2021-22 for the Preferential Issues of 2126750 Equity Convertible Warrants into Equity Shares at a price of 11/- each dated 15.01.2020 and Preferential Issues of 4870000 Equity Convertible Warrants into Equity Shares at a price of 11/- each dated 15.04.2021.