Intimation regarding receipt of Observation letter from the BSE Limited and NationalStock Exchange of India Ltd. in relation to the Draft Scheme of Arrangement between Indo ThaiSecurities Limited (ITSL or Demerged Company or Company) and Indo Thai FinancialServices Limited (ITFSL or Resulting Company) and their respective shareholders underSections 230 to 232 and other applicable provisions of the Companies Act, 2013 (Scheme).