KOPRANLIMITED

(CIN:L24230MH1958PLC011078)

CODEOFCONDUCTFORREGULATING&REPORTINGOFTRADINGBYINSIDERSANDFORFAIRDISCLOSURE

(Underregulation8(1)oftheSEBI(ProhibitionofInsiderTrading)Regulation,2015)(EffectivefromApril1,2019)

CONTENTS

Sr.No. Topic

CHAPTERI–INTRODUCTION

1. Introduction2. ThePolicyandObligations3. ObjectiveoftheCode4. Applicability5. DefinitionsCHAPTERII‐CONFIDENTIALITY&COMMUNICATIONOFUPSI

6. ComplianceOfficer7. DisclosureofUnpublishedPriceSensitiveInformation

CHAPTERIII‐TRADINGRESTRICTIONS

8. Tradingwheninpossessionofunpublishedpricesensitiveinformation9. TradingWindow10. Pre‐clearanceofTrades11. TradingPlans12. InstitutionalMechanismforPreventionofInsiderTradingCHAPTERIV‐REPORTING&DISCLOSUREREQUIREMENTS

CHAPTERV‐MISCELLANEOUS

14. PenaltyforContraventionoftheCode15. UploadingofCodeonCompany’sWebsite

ANNEXURESAnnexure‐I:Code of Practices and Procedures for Fair Disclosure of Unpublished Price SensitiveInformationAnnexure‐II:PolicyfordeterminationofLegitimatePurposesFormA:SpecimenofApplicationforpre‐dealingapprovalFormB:FormatforinitialdisclosureofsecuritiesFormC:FormatfordisclosureoftransactionsFormD:FormatofUndertakingFormE:FormatforPre‐clearanceFormF:Disclosureofchangeinshareholding

KOPRANLIMITED

(CIN:L24230MH1958PLC011078)

CODEOFCONDUCTFORREGULATING&REPORTINGTRADINGBYINSIDERSANDFORFAIRDISCLOSURE

(AsapprovedbytheBoardofDirectorsoftheCompanyonMay6,2019)

CHAPTERI

INTRODUCTION

1. Introduction:

The Regulation 8(1) of the SEBI (Prohibition of Insider Trading) Regulations, 2015 (hereinafterreferredtoasthe“theRegulations”)mandateseveryListedCompanyandCompanyproposedtobelisted to formulate and publish on its website a Policy for Fair Disclosure of Unpublished PriceSensitive Information (hereinafter referred to as the “UPSI”) i.e. information or events that couldimpactpriceof the securitiesof theCompany,which theListedCompanywould follow inorder toadheretoeachoftheprinciplessetoutinScheduleAtotheRegulations.

Accordingly,theBoardofDirectorsofKOPRANLIMITED(hereinafterreferredtoas“theCompany”)hadadoptedthisCodeofPracticesandProceduresforFairDisclosureofUnpublishedPriceSensitiveInformation(hereinafterreferredtoasthe“theCode”)foradoption.

Subsequently, the Securities Exchange Board of India (hereinafter referred to as the “SEBI”) hasamendedtheRegulations,toincorporatethechangesmadeinRegulationsintheCompany’sCodeofConduct;theBoardofDirectorshasamendedtheCodebypassingaresolutiononMay6,2019.TheamendedCodewillbeeffectivefromApril1,2019.

ThisCodeistobereadwiththeCodeofPracticesandProceduresforFairDisclosureofUnpublishedPrice Sensitive Information as set out at Annexure‐I and Policy for determination of legitimatepurposesassetoutatAnnexure‐II.

2. ThePolicyandObligations:

The Company endeavors to preserve the confidentiality of UPSI and to prevent misuse of suchinformation.TheCompanyiscommittedtotransparencyandfairnessindealingwithallstakeholdersandinensuringadherencetoalllawsandregulations.

Every Director and other Designated Persons of the Company has a duty to safeguard theconfidentialityofallsuchinformationobtainedinthecourseofhisorherworkattheCompany.NoDirector andotherDesignatedPersonsmayusehis or herpositionor knowledge to gainpersonalbenefitortoprovidebenefittoanythirdparty.

3. ObjectiveoftheCode:

This Code is formulated with an intention to have a framework/policy for fair disclosure ofinformationoreventsthatcouldimpactpriceofthesecuritiesoftheCompanyinthemarketwherebyhaving uniformity, transparency, fairness and prompt/timely disclosure of information in dealingswithallstakeholdersandensureadherencetoapplicablelawsand regulations.

4. Applicability:ThisCodeshallbeapplicablewitheffectfromApril1,2019.

5. Definitions:

Forthepurposeofthiscodethefollowingtermsshallhavethemeaningsassignedtothemhereunder:(i) “SEBIAct”or“Act”meanstheSecuritiesandExchangeBoardofIndiaAct,1992;

(ii) “Regulations” means the SEBI (Prohibition of Insider Trading) Regulations, 2015 as

amendedfromtimetotime;

(iii) “theCompany”meansKopranLimited;

(iv) “Code”meansthisCodeofConduct forregulating& reportingtradingby insidersand forfairdisclosure,asmodifiedfromtimetotime;

(v) “ComplianceOfficer”meansanyseniorofficer,designatedsoandreportingtotheBoardof

Directors,who is financially literate and is capable of appreciating requirements for legaland regulatory compliance under these regulations and who shall be responsible forcompliance of policies, procedures, maintenance of records, monitoring adherence to therules for the preservation of unpublished price sensitive information,monitoring of tradesand the implementation of the codes specified in the regulations under the overallsupervisionoftheBoardofDirectorsoftheCompany;

“Explanation:Forthepurposeofthisclause,“financiallyliterate”shallmeanapersonwhohastheabilitytoreadandunderstandbasicfinancialstatementsi.e.balancesheet,profitandlossaccount,andstatementofcashflows.”

(vi) “Connected Person” shall have the meaning given to it under Regulation 2(1)(d) of the

Regulations,asamendedfromtimetotime,whichpresentlyreadsas follows:

a. any person who is or has during the six months prior to the concerned act beenassociated with a company, directly or indirectly, in any capacity including byreason of frequent communicationwith its officers or by being in any contractual,fiduciaryoremploymentrelationshiporbybeingadirector,officeroranemployeeof the Company or holds any position including a professional or businessrelationship between himself and the Company whether temporary or permanent,that allows suchperson,directlyor indirectly, access tounpublishedprice sensitiveinformationorisreasonablyexpectedtoallowsuchaccess;

b. Without prejudice to the generality of the foregoing, the persons fallingwithin the

followingcategoriesshallbedeemedtobeconnectedpersonsunlessthecontraryisestablished,

i. animmediaterelativeof“ConnectedPerson”or

ii. anassociatecompanyorsubsidiarycompany;oriii. an intermediary as specified in Section 12 of the Act or an employee or

directorthereof;oriv. aninvestmentcompany,trusteecompany,assetmanagementcompanyoran

employeeordirectorthereof;orv. anofficialofastockexchangeorofclearinghouseorcorporation; or

vi. amemberofboardoftrusteesofamutualfundoramemberoftheboardofdirectors of the asset management company of a mutual fund or is anemployeethereof;or

vii. a member of the Board of directors or an employee, of a public financialinstitutionasdefinedinsection2(72)oftheCompaniesAct,2013;or

viii. an official or an employee of a self‐regulatory organization recognized orauthorizedbytheBoard;or

ix. abankeroftheCompany;orx. a concern, firm, trust, Hindu undivided family, company or association of

persons wherein a director of the Company or his immediate relative orbankeroftheCompany,hasmorethantenpercent,oftheholdingorinterest;

(vii) “DesignatedPerson(s)”shallmeanandinclude:

a. AlltheDirectorsoftheCompany;b. Employeesof theCompanydesignatedon thebasisof their functional roleoraccess to

unpublishedpricesensitiveinformationintheCompanybytheBoard;c. Employees of material subsidiaries of the Company designated on the basis of their

functional role or access tounpublishedprice sensitive information in theCompanybytheBoard;

d. AllpromotersoftheCompanyandpromoterswhoareindividuals;e. Chief ExecutiveOfficer and employees upto two levels belowChief Executive Officer of

the Company and its material subsidiaries irrespective of their functional role in theCompanyorabilitytohaveaccesstounpublishedpricesensitive information;

f. AnysupportstaffoftheCompanysuchasITstafforsecretarialstaffwhohaveaccesstounpublishedpricesensitiveinformation;

g. Directors and employees of the holding company as informed by the holding companyfromtimetotimeandapprovedbythe Board;

h. EveryEmployeeinthefinance,secretarialandlegaldepartmentattheCorporateOfficeoftheCompany;and;

i. SuchotherEmployee(s)orConnectedPerson(s)oranypersonasspecifiedbytheBoardof Directors in consultation with the Compliance Officer or as identified by theCompliance Officer from time to time on the basis of their role and function in

the Company and the access that such role and function would provide to theunpublished price sensitive information in addition to the seniority and professionaldesignationandshall includetheaforesaidcategoriesincompliancewiththeobjectivesofthisCodeandtheRegulations;

(viii) “GenerallyAvailableInformation”means informationthat isaccessible tothepublicona

non‐discriminatorybasis;

(InformationpublishedonthewebsiteofastockexchangeorCompanywouldordinarilybeconsideredgenerallyavailable.)

(ix) “ImmediateRelative”meansaspouseofaperson,andincludesparent,sibling,andchildof

suchpersonorofthespouse,anyofwhomiseitherdependentfinanciallyonsuchperson,orconsultssuchpersonintakingdecisionsrelatingtotradinginsecurities;

(x) “Insider”meansanypersonwhois:

a. aconnectedperson;orb. inpossessionoforhavingaccesstounpublishedpricesensitive information;

(xi) “Promoter”shallhavethemeaningassignedtoitundertheSecuritiesandExchangeBoard

of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 or anymodificationthereof;

(xii) “PromoterGroup”shallhavethemeaningassignedtoitundertheSecuritiesandExchange

Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 or anymodificationthereof;

(xiii) “StockExchange”means:

a. BSELimited;b. NationalStockExchangeofIndiaLimited;c. AnyotherStockExchangeonwhichSecuritiesoftheCompanyisListed.

(xiv) “Trading”meansandincludessubscribing,buying,selling,dealing,oragreeingtosubscribe,

buy,sell,dealinanysecurities,and“trade”shallbeconstrued accordingly;

(xv) “TradingDay”meansadayonwhichtherecognizedstockexchanges,wheresecuritiesoftheCompanyarelisted,areopenfortrading;

(xvi) “TradingWindow”means trading period for trading in the Company’s Securities. All days

shallbethetradingperiodsexceptwhentradingwindowisclosed;

(xvii) “UnpublishedPriceSensitiveInformation”or“UPSI”meansanyinformation,relatingtoaCompany or its securities, directly or indirectly, that is not generally availablewhich uponbecominggenerallyavailable,islikelytomateriallyaffectthepriceofthesecurities

andshall,ordinarilyincludingbutnotrestrictedto,informationrelatingtothefollowing:a. DeclarationoffinancialresultsoftheCompany;b. Proposaltodeclare/recommenddividends(InterimandFinal);c. Proposaltochange incapitalstructurei.e. Issueofsecurities,buy‐backofsecuritiesor

forfeitureofsharesorcapitalreductionoranyothertypeofchangeincapitalstructure;d. Proposalwith reference toMerger,De‐merger,Amalgamation, SchemeofArrangement,

Acquisition,Takeoverofanother listedentity,De‐listingofSecurities,disposals,spinoffor selling division of whole or substantially whole of the undertaking or majorexpansionofbusinessandothersimilartransactions/events;

e. Changesinkeymanagerialpersonnellike,ManagingDirector/Whole‐timeDirector/CEO/CFO/CS,etc.

f. Venturingintoanotherlineofbusinessg. AnyothermatterasmaybeprescribedunderanyotherCorporateLawtobeUPSI;andh. OtherinformationastheComplianceOfficermaydecideasUPSI.

(xviii) Words and expressions used and not defined in this Code but defined in the Regulations,

SEBIAct,1992, theSecuritiesContracts (Regulation)Act,1956or theCompaniesAct,2013andRulesandRegulationsmade thereunder, shallhave themeanings respectivelyassignedtotheminthoselegislations/regulations.

CHAPTERII

CONFIDENTIALITY&COMMUNICATIONOFUNPUBLISHEDPRICESENSITIVEINFORMATION

6. ComplianceOfficer:

6.1 Any officer of the Company who is designated by the Board of Directors as the ComplianceOfficer for the purpose of the Code and the appointment of whom is intimated to the StockExchange.

6.2 TheComplianceOfficershallreporttotheChairmanoftheAuditCommitteeatsuchfrequencyas

maybestipulatedbytheBoardofDirectorsbutnotlessthanonceinayear.

6.3 TheComplianceOfficershallberesponsibleforcomplianceofpolicies,procedures,maintenanceofrecords,monitoringadherencetotherulesforthepreservationofUPSI,monitoringof tradesand the implementation of the Code of Conduct under the overall supervision of the Board ofDirectors.

6.4 A Record of Designated Persons shall be maintained by Corporate‐HR under the overall

supervisionandcontroloftheComplianceOfficerandchangestakingplaceinthelistfromtimetotimeshallbeincorporatedtherein.

6.5 TheComplianceOfficershallprovideanyclarificationswithregardtotheimplementationofthis

Code.TheCompanySecretary,ifnotappointedasComplianceOfficerundertheRegulation,shallassisttheComplianceOfficerindischargingthisfunction.

6.6 The Compliance Officer shall designate a Senior Official of the Company to act as Compliance

officerinhisabsence.

7. DisclosureofUnpublishedPriceSensitiveInformation:

TheComplianceOfficershall followtheCodeofPracticesandProcedures forFairDisclosureofUnpublishedPriceSensitiveInformationassetoutatAnnexure‐I.

CHAPTERIIITRADINGRESTRICTIONS

8. Tradingwheninpossessionofunpublishedpricesensitiveinformation

8.1 No insidershall trade insecurities thatare listedorproposedtobe listedonaStockExchange

wheninpossessionofUPSI.

Explanation‐When a personwhohas traded in securities has been in possessionofUPSI, histrades would be presumed to have been motivated by the knowledge and awareness of suchinformationinhispossession.

Providedthattheinsidermayprovehisinnocencebydemonstratingthecircumstancesincludingthefollowing:–

a. Thetransactionisanoff‐marketinter‐setransferbetweeninsiderswhowereinpossession

ofthesameUPSIwithoutbeinginbreachofAnnexureIofthisCodeandRegulation3oftheRegulationsandbothpartieshadmadeaconsciousandinformedtradedecision;

ProvidedthatsuchUPSIwasnotobtainedunderRegulation3(3)oftheRegulations.

Providedfurtherthatsuchoff‐markettradesshallbereportedbytheinsiderstotheCompanywithin twoworking days. Every Company shall notify the particulars of such trades to theStockExchangesonwhichthesecuritiesarelistedwithintwotradingdaysfromreceiptofthedisclosureorfrombecomingawareofsuchinformation.

b. Thetransactionwascarriedoutthroughtheblockdealwindowmechanismbetweenpersons

who were in possession of the UPSI without being in breach of the provisions of theRegulationsandbothpartieshadmadeaconsciousandinformedtradedecision;

Provided that such unpublished price sensitive information was not obtained by eitherpersonunderRegulation3(3)oftheRegulations.

c. Thetransactioninquestionwascarriedoutpursuanttoastatutoryorregulatoryobligation

tocarryoutabonafidetransaction.

d. The transaction in question was undertaken pursuant to the exercise of stock options inrespect of which the exercise price was pre‐determined in compliance with applicableregulations.

e. Inthecaseofnon‐individualinsiders:–

(a) theindividualswhowereinpossessionofsuchUPSIweredifferentfromtheindividuals

takingtradingdecisionsandsuchdecision‐makingindividualswerenotinpossessionofsuchUPSIwhentheytookthedecisiontotrade;and

(b) appropriate and adequate arrangementswere inplace to ensure that the Regulationsare not violated and no UPSI was communicated by the individuals possessing theinformationto the individualstakingtradingdecisionsand there isnoevidenceofsucharrangementshavingbeenbreached;

f. ThetradeswerepursuanttoatradingplansetupinaccordancewithClause11oftheCode.

8.2 Inthecaseofconnectedpersonstheonusofestablishing,thattheywerenotinpossessionofUPSI,

shallbeonsuchconnectedpersonsandinothercases,theonuswouldbeontheSEBI.

8.3 The Board may specify such standards and requirements, from time to time, as it may deemnecessaryforthepurposeoftheseregulations.

9. TradingWindow

9.1 Thetradingwindowshallbeclosedduringthetimetheinformationreferredtoin clause5(xvi)

becomesgenerallyavailable.

9.2 TheTradingWindowshallbeinter‐aliaclosedfornotlessthanfivedayspriortoBoardMeetingtobeconvenedfor:

a. considerationofdeclaration/recommendationofdividend(InterimorFinal);b. change incapital structure like issueof securitiesbywayofpublic/right/bonus,buy‐back,

etc.;c. approval of any mergers, de‐mergers, acquisitions, delisting’s, disposals and expansion of

businessandsuchotherTransactions;d. For such period and for any such other material event as may be deemed fit by the

ComplianceOfficer;

In respectof declarationof financial results, theTradingWindowshall remain closed from theendoftherespectivequarter,half‐yearorfinancialyear,asthecasemaybe(withoutrequiringtheCompliance Officer to give the intimation for closure of TradingWindow) and the DesignatedPersons and their immediate relatives shall not trade in the Company’s securities during suchperiod.TradingWindowshallopenafterexpiryof48(fortyeight)hoursafterthefinancialresultsbecomegenerallyavailable.Thegapbetweenclearanceofaccountsbyauditcommitteeandboardmeeting shall be as narrow as possible and preferably on the same day to avoid leakage ofmaterialinformation.

However,ifthecircumstancessowarrantsthetimeforclosingthewindowmaybeincreasedordecreasedbytheComplianceOfficer.

9.3 Thetradingwindowshallbeopened48hoursafterinformationreferredtoinClause9.2becomes

generallyavailable.

9.4 All Designated Persons and their immediate relatives shall conduct all their trading in thesecurities of the Company only in a valid trading window and shall not trade in Company’s

Securities during the periods when trading window is closed, as referred to in clause 9.2 orduringanyotherperiodasmaybespecifiedbytheCompanyfromtimetotime.

9.5 The trading window restrictions shall also be applicable to any person having contractual or

fiduciary relationwith the Company, such as Auditors, accountancy firms, law firms, analysts,consultantsetc.,assistingoradvisingtheCompany.

10. Pre‐clearanceofTrades

10.1 AllDesignatedPersonsand their immediaterelativeswho intend to trade in thesecuritiesof

theCompanyaboveaminimumof10,000sharesof theCompanypertransactionshouldpre‐clearthetransactionsasperthepre‐tradingprocedureasdescribedhereunder.

10.2 An application shall be made in Form as specified in “Form A” to the Compliance Officer

indicatingtheestimatednumberofsecuritiesthattheDesignatedPersonsortheir immediaterelatives intends to trade in, the details as to the depository with which he has a securityaccount,thedetailsastothesecuritiesinsuchdepositorymodeandsuchotherdetailsasmayberequiredbyanyRulemadebytheCompanyinthis behalf.

10.3 All Designated Persons and their immediate relatives shall execute their order in respect of

securities of the Company within seven trading days after the approval of pre‐clearance isgiven.Iftheorderisnotexecutedwithintheaforementionedspecifiedperiod,theymusttakepre‐clearanceforthetransactionagain.

10.4 IncasetheDesignatedPersonsorhis/herimmediaterelativedecidesnottoexecutethetrade

aftersecuringpre‐clearance,he/sheshallinformtheComplianceOfficerofsuchdecisionalongwithreasonsthereofimmediately.

10.5 No Designated Persons or his/her immediate relative shall apply for pre‐clearance of any

proposedtradewhenthetradingwindowisclosedorifhe/sheisinpossessionofUPSI.

10.6 Prior toapprovinganytrades, theComplianceOfficershallbeentitledtoseekdeclarationstotheeffectthattheapplicantforpre‐clearanceisnotinpossessionofanyUPSI.Heshallalsohaveregardtowhetheranysuchdeclarationisreasonablycapableofbeingrenderedinaccurate.

10.7 ItshallbetheresponsibilityofDesignatedPersonstoensurecomplianceofclauses10.1to10.4

aboveincaseoftheirimmediaterelativesalso.

10.8 AllDesignatedPersonswhobuyorsellanynumberofsharesoftheCompanyshallnotexecutea contra trade i.e. sellorbuyanynumberof sharesduring thenext sixmonths following theprior transaction.Providedthat thisshallnotbeapplicable fortradespursuant toexerciseofstockoptions.

10.9 The Compliance Officer may grant relaxation from strict application of such restriction for

reasonstoberecordedinwritingprovidedthatsuchrelaxationdoesnotviolatetheregulations.

10.10 If a contra trade executed, inadvertently or otherwise, in violation of such a restriction, theprofits fromsuchtradeshallbe liable tobedisgorged forremittance toSEBI forcredit to theInvestorProtectionandEducationFundadministeredbySEBIundertheAct.

11. TradingPlans

11.1 AnInsidershallbeentitledtoformulateatradingplanandpresentittotheComplianceOfficer

forapprovalandpublicdisclosurepursuanttowhichtradesmaybecarriedoutonhisbehalfinaccordancewithsuchplan.

11.2 Suchtradingplanshall:–

a. not entail commencement of tradingonbehalf of the insider earlier than six months

fromthepublicdisclosureoftheplan;b. notentailtradingfortheperiodbetweenthetwentiethtradingdaypriortothelastday

ofany financialperiod forwhichresultsarerequiredtobe announcedby theCompanyandthesecondtradingdayafterthedisclosureofsuchfinancial results;

c. entailtradingforaperiodofnotlessthantwelvemonths;d. notentailoverlapofanyperiodforwhichanothertradingplanisalreadyinexistence;e. setouteitherthevalueoftradestobeeffectedorthenumberofsecuritiestobetraded

alongwith thenatureof the tradeand the intervals at,ordatesonwhich such tradesshallbeeffected;and

f. notentailtradinginsecuritiesformarketabuse.

11.3 TheComplianceOfficershallreviewthetradingplantoassesswhethertheplanwouldhaveanypotential forviolationof theCompany’sCodeor theRegulationsandshallbeentitledtoseeksuchexpressundertakings,asmaybenecessary,toenablesuchassessmentandtoapproveandmonitortheimplementationoftheplan.

Provided that pre‐clearance of trades shall not be required for a trade executed as per anapprovedtradingplan.

Provided further that trading window norms and restrictions on contra trade shall not beapplicablefortradescarriedoutinaccordancewithanapprovedtradingplan.

11.4 Thetradingplanonceapprovedshallbeirrevocableandtheinsidershallmandatorilyhaveto

implementtheplan,withoutbeingentitledtoeitherdeviatefromitortoexecuteanytradeinthesecuritiesoutsidethescopeofthetradingplan.

Provided that the implementationof the tradingplan shall not be commenced if anyUPSI inpossession of the insider at the time of formulation of the plan has not become generallyavailable at the time of the commencement of implementation and in such event theComplianceOfficershallconfirmthatthecommencementoughttobedeferreduntilsuchUPSIbecomesgenerallyavailableinformation.

11.5 Upon approval of the trading plan, the Compliance Officer shall notify the plan to the stockexchangesonwhichthesecuritiesarelisted.

12. InstitutionalMechanismforPreventionofInsiderTrading

12.1 TheChiefExecutiveOfficer,ManagingDirectororsuchotheranalogouspersonoftheCompany

shallputinplaceadequateandeffectivesystemofinternalcontrolstoensurecompliancewiththerequirementsgiveninthisCodeortheRegulationstopreventinsidertrading.

12.2 Theinternalcontrolsshallincludethefollowing:

a. allemployeeswhohaveaccesstoUPSIareidentifiedasdesignatedpersons;b. all the UPSI shall be identified and its confidentiality shall be maintained as per the

requirementsofthisCodeortheRegulations;c. adequate restrictions shall be placed on communication or procurement of UPSI as

requiredbythisCodeortheRegulations;d. listsofallemployeesandotherpersonswithwhomUPSIissharedshallbemaintained

and confidentiality agreements shall be signed or notice shall be served to all suchemployeesandpersonstomaintainconfidentiality;

e. all other relevant requirements specified under this Code or the Regulations shall becompliedwith;

f. Periodicprocessreviewtoevaluateeffectivenessofsuchinternalcontrols.

12.3 TheBoardofDirectorsshallensure that theChiefExecutiveOfficerortheManagingDirectorensurescompliancewithregulation9andsub‐regulations(1)and(2)oftheRegulations.

12.4 TheAuditCommitteeoftheCompanyshallreviewcompliancewiththeprovisionsoftheCode

ofConductandtheRegulationsatleastonceinafinancialyearandshallverifythatthesystemsforinternalcontrolareadequateandareoperatingeffectively.

12.5 TheCompanyshallformulatewrittenpoliciesandproceduresforinquiryincaseofleakofUPSI

orsuspectedleakofUPSI,whichshallbeapprovedbytheBoardofDirectorsandaccordinglyinitiateappropriateinquiriesonbecomingawareofleakofUPSIorsuspectedleakofUPSIandinformtheSEBIpromptlyofsuchleaks,inquiriesandresultsofsuchinquiries.

12.6 TheCompanyshallhaveawhistle‐blowerpolicyandmakeemployeesawareofsuchpolicy

toenableemployeestoreportinstancesofleakofunpublishedpricesensitiveinformation.

CHAPTERIVREPORTINGANDDISCLOSUREREQUIREMENTS

13. DisclosureRequirements:

13.1 InitialDisclosures

ByWhom Whattobedisclosed Whentobedisclosed Form

Promoter/Director/KMP/MemberofthepromotergrouptotheComplianceOfficer

Holdingof securitiesof theCompanyason date of appointment or becomingPromoter

Withinsevendaysofsuchappointmentorof becomingPromoter/MemberofPromotergroup

FormB

13.2 ContinualDisclosures

ByWhom Whattobe

disclosedWhentobedisclosed Form

Promoter/Member ofPromoterGroup/Director/

Numberofsuchsecuritiesacquired ordisposed

Within two trading days of such transaction if thevalue of the securities traded, whether in onetransactionoraseriesoftransactionsover anycalendarquarter,aggregatestoatradedvalue in

FormC

DesignatedPerson/DirectortotheComplianceOfficer

excessofRs.10lakhorsuchothervalueasmaybespecified.*disclosure of incremental transactions shall bemade when transactions effected after the priordisclosurecrossthethresholdspecifiedabove.

Company Detailsofabovedisclosure

Withintwotradingdaysofreceiptofdisclosureorbecomingawareofsuchdisclosure

13.3 FormswithregardtotheCodeformspartofthiscode.

13.4 The disclosures to bemade by any person under clause 13.1 shall include those relating to

tradingbysuchperson’s immediaterelatives,andbyanyotherpersonforwhomsuchpersontakestradingdecisions.

13.5 Thedisclosuresoftradinginsecuritiesshallalsoincludetradinginderivativesofsecuritiesand

thetradedvalueofthederivativesshallbetakenintoaccountforpurposeofclause13.1.

13.6 The Compliance Officer shall maintain records of all the disclosures/declarations/undertakings/formsasmentionedinthisCode,asreceivedfromtimetotime, foraperiodoffiveyears.

13.7 TheComplianceOfficershallreporttotheChairmanoftheAuditCommittee annually.

CHAPTERV

MISCELLANEOUS

14. PenaltyforContraventionoftheCode

14.1 AllDesignatedPersonsandConnectedPersonswhotrades insecuritiesorcommunicatesanyinformationfortradinginsecuritiesincontraventionofthecodeofconductmaybepenalizedandappropriateactionmaybetakenbytheCompany.

14.2 AllDesignatedPersonswho violate this Code of Conduct shall also be subject todisciplinary

action by the Company, which may include wage, salary freeze, suspension, withholding ofpromotionsetc.

14.3 TheactionbytheCompanyshallnotprecludeSEBIfromtakinganyactionincaseofviolationof

theRegulations.

14.4 IncaseitisobservedbytheCompanyand/orComplianceOfficerthattherehasbeenviolationoftheRegulations,SEBIshallbeinformedbytheCompany.

15. UploadingofCodeonCompany’sWebsite

ThisCodeandanyamendmentstheretoshallbeavailableonthewebsiteoftheCompanyi.e.

www.kopran.com

Annexure‐I

CODEOFPRACTICESANDPROCEDURESFORFAIRDISCLOSUREOFUNPUBLISHEDPRICESENSITIVEINFORMATION

Preamble

The Regulation 8(1) of the SEBI (Prohibition of Insider Trading) Regulations, 2015 (“theRegulations”)mandateseveryListedCompany to formulateandpublishon itswebsiteaPolicy forFair Disclosure of Unpublished Price Sensitive Information (“UPSI”) i.e. information or events thatcouldimpactpriceofthesecuritiesoftheCompany,whichtheListedCompanywouldfollowinordertoadheretoeachoftheprinciplessetoutinScheduleAtothe Regulations.

Accordingly,theBoardofDirectorsofKOPRANLIMITED(“theCompany”)haslaiddownthisCodeof Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (“theCode”)foradoption.

This Code is to be read with the Policy for determination of legitimate purposes as set out inAnnexureII.

(A) Objective:

This Code is formulated with an intention to have a framework/policy for fair disclosure ofinformationoreventsthatcouldimpactpriceofthesecuritiesoftheCompanyinthemarketwherebyhaving uniformity, transparency, fairness and prompt/timely disclosure of information in dealingswithallstakeholdersandensureadherencetoapplicablelawsand regulations.

(B) Applicability

ThisCodeshallbeapplicablewitheffectfromApril1,2019.

(C) PrinciplesofFairDisclosure:

The Company shall adhere to the following principles to ensure timely and fair disclosure ofUnpublishedPriceSensitiveInformation(“UPSI”):

1. PromptpublicdisclosureofUPSIthatwouldimpactpricediscovery,assoonasithascredibleand

concreteinformation,inordertomakesuchinformationgenerally available.2. UniformanduniversaldisseminationofUPSItoavoidselectivedisclosure.3. PromptdisseminationofUPSIthatgetsdisclosedselectively,inadvertentlyorotherwise,tomake

suchinformationgenerallyavailable.4. Appropriate,promptandfairresponsetoqueriesonnewsreportsandrequestsforverificationof

marketrumoursbyregulatoryauthorities.

5. EnsuringthatinformationsharedwithanalystsandresearchpersonnelisnotUPSI.TheCompanyshall be careful while answering to the queries of analysts and no UPSI, inadvertently orotherwise,shallbedisclosed.

6. Records proceedings of meetings with analysts or Media to ensure official confirmation anddocumentationofdisclosuresmade.

7. TheUPSIshouldbesharedonlyonneed‐to‐knowbasisandforlegitimatepurposeafterrecordingthenameandidentificationdetailsofpersonwithwhomUPSI issharedandintimatingthemtokeepthesaidinformationconfidentialinconsonancewiththelegitimatepurposepolicymarkedAnnexureIItothiscode.

(D) Chief InvestorRelationsOfficer(“CIRO”) fordisseminationof informationanddisclosure

ofUPSI:

1. The Compliance Officer of the Company under the Regulations will act as the Chief InvestorRelationsOfficerandshallberesponsiblefordisseminationofinformationanddisclosureofUPSI.

2. TheCIROisalsoresponsibleforensuringcomplianceofthiscode,overseeinganddisclosingUPSI

to stock exchanges, shareholders, analysts, media and other person. The CIRO shall takenecessary steps to educate Company’s staff or connected person on disclosure policies andprocedureundertheRegulations.

3. Toprevent themisuseofUPSI, theCompanyshalladoptaChineseWallpolicyandprocedures,

which separate those areas of the Company that routinely have access to UPSI like corporatefinancedepartment,officesofexecutivepresidentsandabove,consideredas“Insideareas”andrest of the areas considered as “Public areas”. All information shall be handled within theCompanyon a need‐to‐knowbasis. “Need toknow”basismeans thatUPSI should bedisclosedonly to thosewhoneed the information toperform their duties or discharge legal obligationsand whose possession of such information will not give rise to a conflict of interest orappearanceofmisuseoftheinformation.PersonsintheInsideareasshallnotcommunicateanyUPSI to anyone in Public areas. UPSI can be communicated, provided, allowed access to orprocuredwithinagroupofpersons if suchpersonshavebeen identifiedandsecludedwithina“Chinesewall”or informationbarrierbytheCIROfromtherestoftheCompanyforaparticularpurpose or for Sensitive Transactions or for a specified period of time in furtherance oflegitimatepurposes,performanceofdutiesordischargeof legalobligations,and are subjectedto, among other conditions, confidentiality obligations, information barriers designed toprevent exchanges of UPSI outside the “Chinesewall”, and the execution of an undertaking bysuchpersons toabstainand/or foregoTradingduring such seclusionor till theUPSIno longerconstitutes UPSI. In exceptional circumstances, persons from Public areas may be broughtover/permitted tocross theChinesewallandgivenUPSIon thebasisofneed‐to‐knowcriteria,under intimation to the CIRO. Persons shall be made aware of the duties and responsibilitiesattached to the receiptofUPSI, and the liability that attaches tomisuseorunwarranteduseofsuchinformation.Allnon‐publicinformationdirectlyreceivedbyanypersonshouldimmediatelybereportedtotheheadofthedepartment.

4. AllUPSI istobehandledon“needtoknowbasis”, i.e.,UPSIshouldbe disclosedonly to thosewho need the information to discharge their duty or guide the Company on compliance orcompletionofevent/transactionandwhosepossessionofsuchinformationwillnotgiverisetoaconflictofinterestorappearanceofmisuseoftheinformation.

5. AnypersoninreceiptofUPSIpursuanttoa“legitimatepurpose”shallbeconsideredan“insider”

forpurposeofthisCodeandduenoticeshallbegiventosuchpersonstomaintainconfidentialityofsuchUPSIincompliancewiththisCodeandthe Regulations.

6. NopersonshallprocurefromorcausethecommunicationbyanyinsiderofUPSI,relatingtothe

Companyor securitiesof theCompany listedorproposed tobe listed, except in furtheranceoflegitimatepurposes,performanceofdutiesordischargeoflegalobligations.

7. The CIRO shall be intimated immediately in case any employee or connected person or other

person receives UPSI from the sources/channel who is/are not supposed to have suchinformation.

8. Notwithstanding anything contained in the Code, an UPSI may be communicated, provided,

allowedaccesstoorprocured,inconnectionwithatransactionthatwould:–

a. entailanobligationtomakeanopenofferundertheTakeoverRegulationswheretheBoardofDirectorsoftheCompanyisofinformedopinionthatthesharingofsuchinformationisinthebestinterestsoftheCompany;

b. notattract theobligation tomakeanopenofferunder theTakeoverRegulationsbutwhere

the Board of Directors of the Company is of informed opinion that the sharing of suchinformationisinthebestinterestsoftheCompanyandtheinformationthatconstituteUPSIisdisseminatedtobemadegenerallyavailableatleasttwotradingdayspriortotheproposedtransaction being effected in such form as the Board of Directors may determine to beadequateandfairtocoverallrelevantandmaterialfacts.

Forthepurposeoftheaboveclauses,thepartiesshallberequiredtoexecuteagreementstocontractconfidentialityandnon‐disclosureobligationson thepartof suchpartiesandsuchpartiesshallkeepinformationsoreceivedconfidential,exceptforthepurposeofClause(D)8aboveandshallnototherwisetradeinsecuritiesoftheCompanywheninpossessionofUPSI.

(E) Powers&DutiesofChiefInvestorRelationsOfficer:

1. The CIRO, in consultationwith theChief ExecutiveOfficer (CEO) or Chief Financial Officer

(CFO),shalldecidewhetheraninformation,otherthantheinformationcoveredunderthiscode,ispricesensitiveornot.

2. The CIRO shall ensure that UPSI or any event which has a bearing on the share price of theCompanyshoulddisclosedordisseminatedpromptly,uniformly(notselectively)andcompletebycommunicatingthesametothestockexchange(s)onwhichCompany’ssecuritiesarelistedandonthewebsiteoftheCompany,ifrequired,inaccordancewiththeRegulationsoranyotherlawsorRegulationapplicabletotheCompany.

3. Anyinformation/eventswhichmentionedunderthiscode,shallbedisclosed/disseminatedonlyafter obtaining prior by the CIRO. In case any person accidentally disclosed/disseminated anyUPSIwithoutpriorapprovalofCIRO,thesaidpersonshallimmediatelyinformthe CIRO.

4. Anyqueriesor requestsby theRegulatoryAuthorities for verificationofmarket rumour/newsreport shallbeforwardedtotheCIRO,whoshalldecideontheclarificationtobeprovided.

(F) DisclosuretoAnalysts/Media:

1. All UPSI shall be first communicated to the stock exchange(s) before sharing with

Analyst/ResearchpersonnelorMedia.2. Records proceedings of meetings with analysts or Media, if possible, to ensure official

confirmationanddocumentationofdisclosuresmade.3. Transcriptofthemeeting/con‐callwithanalyst/ResearchpersonnelorMediashallbefurnished

tothestockexchange(s)andthenpostedonCompany’swebsite.

(G) Respondingtomarketrumours/newsreports:

Ifanyregulatoryauthoritiesraiseanyqueryonnewsreportsorrequests forverificationofmarketrumors then an official(s) of the Company, who is authorized by the Board of Directors of theCompany, after discussion with CIRO or where no such person is authorized, CIRO shall give anappropriateandfairreplytothesaidquery/requestpromptly.ThesaidpersonorCIROshalldecidewhether a public announcement is necessary to be given in response to the said rumours/newsreportandaccordinglymakethedisclosures.

(H) NoticealongwithsharingUPSI

IfanyUPSIissharedwithanypersonforlegitimatepurpose,thesaidpersonshallbedeemedtobeinsider forthiscodeortheRegulations.WhilesharingtheUPSI,anoticeshallalsobegiventosuchpersonsintheformatgivenin“Form–G”tothiscodeinformingthesaidpersonthattheinformationsharedisorwouldbeUPSIanddutiesandresponsibilitiesattachedwithsuchUPSIshared.ThesaidpersonshallalsobeaskedtokeepthesaidUPSIconfidentialandmadeawareabouttheconsequencesofanymisuseofUPSI.

(I) DigitalDatabaseofthepersonwithwhomUPSIhasbeenshared

TheCIROshallberesponsibletomaintainastructureddigitaldatabaseofsuchpersonswithwhomUPSIissharedunderthisCode,whichshallcontainthefollowinginformation:

1. Name,addressande‐mailIDofsuchrecipientofUPSI;2. Name of the Organization or entity to whom the recipient represent, if applicable, and his

designation;3. Permanent Account Number (PAN) or any other identifier authorized by law, if PAN is not

available.

TheCIROshallensurethatabovedatabasesshallbemaintainedwithadequateinternalcontrolsandchecks,suchastimestampingandaudittrials,toensurenon‐tamperingofsuchdatabase.Further,thesaiddatabaseshouldbemaintainedatleastaperiodoffive(5) years.

(J) Amendment

TheBoardofDirectorsoftheCompany,inviewofchangesinapplicableLaws,RulesorRegulations,mayamend/substituteanyprovision(s)withanewprovision(s)orreplacethisentireCodewithanewCodeunderintimationtotheStockExchange(s)wherethesecuritiesoftheCompanyarelisted.

InanycircumstancewherethetermsoftheCodedifferfromanyLaw,RuleorRegulation,etc.forthetimebeinginforce,theprovisionsofthesaidLaw,RuleorRegulationshallhaveoverridingeffectovertheCode.

Form‐G

NoticetothepersonwithwhomUnpublishedPriceSensitiveInformation(UPSI)isshared(PursuanttoRegulation 3(2B) of the SEBI (Prohibition of Insider Trading) Regulations, 2015 andCompany’sCodeofPracticesandProceduresforFairDisclosureofUPSI)

Date:

To,Mr./Mrs.

DearSir/Madam,

Sub.:NoticepursuanttoRegulation3(2B)of theSEBI(Prohibitionof InsiderTrading)Regulations,2015andCompany’sCodeofPracticesandProceduresforFairDisclosureofUPSI

Pursuant to Regulation 3(2B) of the SEBI (Prohibition of Insider Trading) Regulations, 2015 andCompany’sCodeofPracticesandProcedures forFairDisclosureof UPSI,we wish to informyouthat:

1. theinformationsharedisorwouldbeUnpublishedPriceSensitiveInformation(UPSI);2. Onreceiptofthisinformationitisyourdutyandresponsibilitytomaintainconfidentialityofsuch

unpublishedpricesensitiveinformationincompliancewiththeseregulations3. YouwillbeliableforanymisuseofthesaidUPSI.4. Youshouldusethesaidinformationonlyforthelimitedpurposeforwhichitwasgiven.5. YoushouldalwayscomplywiththeprovisionsoftheSEBI(ProhibitionofInsiderTrading) Regulations,

2015whiledealingwithsaidUPSI.

KindlyacknowledgethereceiptofthisNoticeandadherewiththeprovisionsoftheSEBI(ProhibitionofInsiderTrading)Regulations,2015.

Thankingyou,ForKOPRANLIMITED,

AuthorizedPerson

Annexure‐II

PolicyfordeterminationofLegitimatePurposes

A. PREFACE

ThisPolicyisformulatedincompliancetotheprovisionsofRegulation3(2A)oftheSEBI(ProhibitionofInsiderTrading)Regulation,2015(“theRegulations”),effectivefromApril1,2019,whichprovidesforthat,listedentitiesarerequiredtomakeapolicyfordeterminationof“legitimatepurposes"asapartof“CodesofFairDisclosureandConduct"formulatedunderregulation8.

ThisPolicywillbeapplicableonall“insiders"andwillbeeffectivefromApril1,2019.Anysubsequentmodificationand/oramendmentsbroughtaboutbySEBIintheSEBI(ProhibitionofInsiderTrading)Regulation,2015shallautomaticallyapplyonthisPolicy.

WordsandexpressionsusedandnotdefinedinthisPolicyorintheCompany’sCodeofPracticesandProceduresforFairDisclosureofUnpublishedPriceSensitiveInformation(“TheCode”),shallderivetheirmeaningfromtheRegulation.

B. DETERMINATIONOFLEGITIMATEPURPOSE

1. “Legitimatepurpose“shall includesharingofunpublishedprice sensitive information (“UPSI”)

intheordinarycourseofbusinessbyaninsiderwithpartners,collaborators,lenders,customers,suppliers,merchantbankers, legaladvisors,auditors,insolvencyprofessionalsorotheradvisorsorconsultants,providedthatsuchsharinghasnotbeencarriedout toevadeorcircumventtheprohibitionsoftheRegulations.

2. Whatshallconstitute“legitimatepurpose”andwhatshallnotconstitute“legitimatepurpose”will

bebasedonthebusinessrelatedneedsof theCompany. In general, legitimate purposeshall,inter‐alia,includethefollowingpurposes:

a) AuditPurpose;b) ContractualObligation;c) LegalObligation;d) AnyotherspecificpurposebasedonthebusinessrelatedneedsoftheCompany;ande) Otheradministrativepurposes.

3. The purpose of providing information for a legitimate purpose must be compatible with a

declaredandspecifiedpurposeandshouldnotbecontrarytolaw,moralsoranypublicpolicy.

4. TheinformationrecipientmustbeclearlyinstructedtoobtaintheCompany’swrittenconsentincase the information provided to such recipient is used by such recipient for another purposeother than the initial legitimate purpose forwhich the Company had provided theUPSI, If theCompany concludes that, the secondary purpose is a “legitimate purpose", the Company maygrantconsentforthesametotheusersoftheinformation.

C. PRINCIPLES

1. All information shall be handled within the organization on a need‐to‐know basis and nounpublished price sensitive information shall be communicated to any person except infurtheranceoflegitimatepurposes,performanceofdutiesordischargeoflegalobligations

2. The information provided for the legitimate purpose must not be excessive in relation to the

declared purpose. It must be ensured that, providing such information is necessary for itsintendedpurpose

3. TheBoardofDirectors shallensure thata structureddigitaldatabase ismaintainedcontaining

thenamesofsuchpersonsorentitiesasthecasemaybewithwhomthe information issharedunder this Regulation along with the Permanent Account Number or any other identifierauthorizedby law,wherePermanentAccountNumber isnotavailable.Suchdatabasesshallbemaintainedwithadequateinternalcontrolsandcheckssuchastimestampingandaudittrailstoensurenon‐tamperingofthedatabase.

D. SHARINGOFUPSIFORLEGITIMATEPURPOSE:

TheUPSI shall be shared by any person(s) authorized by the Board ofDirectors or Chief InvestorRelationsOfficer(“CIRO”)oftheCompanyinitsbehalf,onlyinfurtheranceoflegitimatepurpose(s),subjecttocomplianceorrestrictionsasprovidedundertheRegulationsoranyotherlawforthetimebeinginforceinthisbehalfortheCode,whichshallincludebutnotlimitedtothe following:

1. SharingofUPSIintheordinarycourseofbusinessbyanyInsider,DesignatedPerson,orbyanyAuthorized

personwithexistingorproposedpartners,collaborators,lenders, customers,suppliers,merchantbankers,legaladvisors,auditors,insolvencyprofessionalsorotheradvisorsorconsultants;

2. SharingofUPSIwheresuchcommunicationisinfurtheranceofperformanceofduty(ies);3. SharingofUPSI fordischargeof legalobligation(s)orpursuant toanyorderof anyRegulatory

AuthoritiesorCourtorTribunaloranyJudicialorquasi‐judicialAuthorities;4. SharingofUPSIforpurposementionedinClauseB(2)ofthisPolicy;5. SharingofUPSIforanyothergenuineorreasonablepurposeasmaybedeterminedbytheCIROofthe

Companyforcompletinganytransactionortakinganydecision.6. SharingofUPSIforanyotherpurposeasmaybeprescribedunderanyLaworRegulations,forthetime

beinginforce,inthisbehalf.

ProvidedthatsuchsharingshouldnotbecarriedouttoevadeorcircumventtheprohibitionsoftheRegulations.

E. POWEROFTHEBOARDOFDIRECTORS

TheCIRO,subjecttotheapprovaloftheBoardofDirectorsreservestherighttoamendormodifythisPolicyinwholeorinpart,atanytimewithoutassigninganyreason whatsoever.

TheBoardmayonitsownorontherecommendationoftheAuditCommittee,establishfurtherrulesandprocedures,fromtimetotime,togiveeffecttotheintentofthisPolicyandtofurthertheobjectiveofgoodcorporategovernance.

ThedecisionoftheBoardofDirectorsoftheCompanywithregardtoanyorallmattersrelatingtothisPolicyshallbefinalandbindingonallconcerned.

F. DISCIPLINARYACTION

The Audit Committee, subject to approval of the Board of Directors, may take appropriate actionagainst any person who violates the provisions of this Policy. Disciplinary action may includepenalizing the concerned person. Where the Company has suffered a loss due to violation of thePolicy,itmaypursueitslegalremediesagainstsuchperson(s).

FORMASpecimenofApplicationforpre‐dealingapproval

Date:

To,TheComplianceOfficer,KopranLimited,Mumbai

DearSir/Madam,

ApplicationforPre‐dealingapprovalinsecuritiesoftheCompany

PursuanttotheSEBI(prohibitionofInsiderTrading)Regulations,2015andtheCompany’sCodeofConduct,Iseekapprovaltopurchase/sale/subscriptionof equity shares of theCompanyasperdetailsgivenbelow:

1.Nameoftheapplicant:

2.Designation:

3.Numberofsecuritiesheldasondate:

4.FolioNo./DPID/ClientIDNo.):

5.Theproposalisfor

(a) Purchaseofsecurities(b) Subscriptiontosecurities(c) Saleofsecurities

6.Proposeddateofdealinginsecurities:

7.TypeandEstimatednumberofsecuritiesproposedtobeacquired/subscribed/sold:

8.Priceatwhichthetransactionisproposed:

9.Currentmarketprice(asondateofapplication):

10.Whethertheproposedtransactionwillbethroughstockexchangeoroff‐marketdeal

11.FolioNo./DPID/ClientIDNo.wherethesecuritieswillbecredited/debited:

FORMB

Formatforinitialdisclosureofsecurities

To,TheComplianceOfficer,KopranLimited,Mumbai

I, ,inmycapacityas of the Company hereby submitthefollowingdetailsofsecuritiesheldintheCompanyason (date of becomingDesignatedPerson).

I. Detailsofsecuritiesheldbyme:

TypeofSecurities No.ofsecurities

heldFolioNo Beneficiary A/c

ClientID

II. DetailsoftheImmediateRelative(s):

PursuanttotheprovisionsofSEBI(ProhibitionofInsiderTrading)Regulations,2015andtheCompany’sCodeConduct,IherebydeclarethatIhavethefollowingdependents:

Sr.No. NameoftheImmediate

RelativeRelationwithDirector/Officer/DesignatedEmployee

PAN MobileNo.

III. DetailsofsecuritiesheldbytheImmediateRelative(s):

NameofImmediateRelative

Relationship Typeofsecurities

No. ofSecuritiesheld

FolioNo BeneficiaryA/cClientID

FORMC

Formatfordisclosureoftransactions

(Tobesubmittedwithintwodaysoftransaction/dealinginsecuritiesoftheCompany)

To,TheComplianceOfficer,KopranLimited,Mumbai

IherebyinformthatI• havenotbought/sold/subscribedanysecuritiesoftheCompanyOR• havebought/sold/subscribedto securitiesasmentionedbelowon (date)

Nameofholder No.ofsecurities

dealtwithBought/sold/subscribed

DPID/ClientID/FolioNo

Pricepersecurity(Rs.)

In connectionwith the aforesaid transaction(s), I hereby undertake to preserve, for a period of 3yearsandproducetotheComplianceofficer/SEBIanyofthefollowing documents:

1. Broker’scontractnote.2. Proofofpaymentto/frombrokers.3. Extractofbankpassbook/statement(tobesubmittedincaseofdemattransactions).4. CopyofDeliveryinstructionslip(applicableincaseofsaletransaction).

Iagreetoholdtheabovesecuritiesforaminimumperiodofsixmonths.Incasethereisanyurgentneed to sell these securities within the said period, I shall approach the Compliance Officer fornecessaryapproval.(Applicableincaseofpurchase/subscription).

IdeclarethattheaboveinformationiscorrectandthatnoprovisionsoftheCompany’sCodeand/orapplicablelaws/regulationshavebeencontravenedforeffectingtheabovesaidtransactions(s).

Signature:

Name:

Designation:Date:

FORMDFormatofUndertaking

FORMATOFUNDERTAKING/DECLARATIONTOBEACCOMPANIEDWITHTHEAPPLICATIONFORPRE‐CLEARANCE

To,TheComplianceOfficer,KopranLimited,Mumbai

I, , oftheCompanyresidingat , am desirous of dealing in (Number) (Type of Securities)of the Company asMentionedinmyapplicationdated forpre‐clearanceofthetransaction.

IfurtherdeclarethatIamnotinpossessionoforotherwiseprivytoanyunpublishedpricesensitiveinformation(asdefinedintheCompany’sCodeofConduct)uptothetimeofsigningthisUndertaking.

IntheeventthatIhaveaccesstoorreceivedanyinformationthatcouldbeconstruedasunpublishedprice sensitive information asdefined in theCode, after the signing of this undertakingbut beforeexecuting thetransaction forwhichapproval issought, I shall informtheComplianceOfficerof thesame and shall completely refrain from dealing in the securities of the Company until suchinformationbecomespublic.

IdeclarethatIhavenotcontravenedtheprovisionsoftheCodeasnotifiedbytheCompanyfromtimetotime.

Iundertaketosubmitthenecessaryreportwithintwodaysofexecutionofthetransaction/a“Nil”reportifthetransactionisnotundertaken.

If approval is granted, I shall execute the dealwithin seven days of the receipt of approval failingwhichIshallseekpre‐clearanceagain.

IdeclarethatIhavemadefullandtruedisclosureinthematter.

Date:

Signature:

FORME

FormatforPre‐clearance

To,

Name:Designation:Address:

Thisistoinformyouthatyourrequestfordealingin (numbers) (TypeofSecurities)oftheCompanyasmentionedinyourapplicationdated

isapproved/notapproved.Pleasenotethatthesaidtransactionmustbecompletedonorbefore______(date)thatiswithin7(seven)daysfromtoday.

In case youdo not execute the approved transaction /deal onor before the aforesaid date youwouldhavetoseek freshpre‐clearancebeforeexecutinganytransaction/deal in thesecurities oftheCompany.Further,youarerequiredtofilethedetailsoftheexecutedtransactionsintheattachedformat within 2 (two) days from the date of transaction/deal. In case the transaction is notundertakena“Nil”reportshallbenecessary.

Yoursfaithfully,

ForKopranLimited,

Compliance Officer

Date:

Encl:Formatforsubmissionofdetailsoftransaction

Signature: Name: Designation: Date:

FORMF

Disclosureofchangeinshareholding

TheComplianceOfficer,KopranLimited,Mumbai

I, ,inmycapacityas oftheCompanyherebysubmitthefollowingdetailsofchangeinholdingofsecuritiesoftheCompany:

Name,PANNo.& No. of Receipt of Nature of Trading member Exchange onaddress of securities held allotment transaction& through whom which theshareholder before the advice/ quantity the trade was trade was

transaction acquisition Purchase/ executed with executed

of/sale of Sale/Others SEBI

securities Registration

No.oftheTM

Detailsofchangeinsecuritiesheldbydependentfamilymembers:Name,PANNo.&address ofshareholder

No. ofsecurities heldbefore thetransaction

Receipt ofallotmentadvice/acquisitionof/sale ofsecurities

Nature oftransaction&quantityPurchase/Sale/Others

Trading memberthrough whomthe trade wasexecuted withSEBIRegistrationNo.oftheTM

Exchange onwhich thetrade wasexecuted

I/WedeclarethatI/Wehavecompliedwiththerequirementoftheminimumholdingperiodofsixmonthswithrespecttothesecuritiespurchased/sold.

Iherebydeclarethattheabovedetailsaretrue,correctandcompleteinallrespects.