Date: November 11, 2026

Board Meeting Outcomes

The Board of Directors of Glottis Limited, at its meeting held on Wednesday, November 11, 2026, considered and approved an amendment to the terms of the Inter-Corporate Loan Agreement dated July 03, 2026, entered between the Company and its wholly owned subsidiary Glottis Inc.

Loan Agreement Details

Parties Involved:

  • Borrower: Glottis Inc.
  • Lender: Glottis Limited

Relationship: Glottis Inc. is a Wholly Owned Subsidiary of Glottis Limited (100% shareholding)

Purpose: Grant of Loan for Working Capital Requirements

Original Agreement Date: July 03, 2026

Addendum Date: November 11, 2026

Nature of Loan: Unsecured Inter Corporate Loan

Outstanding Amount: US$100,000 as of disclosure date

Repayment Terms: The Loan shall be repaid within five (5) years from the date of disbursement

Amendment Details

The addendum revises two key terms of the original loan agreement:

1. Rate of Interest: Revised from "WCDL rates prevailing at the time of disbursement" to "Borrowing Cost prevailing at the time of Disbursement + 0.50% Spread"

2. Loan Amount: Revised from "up to INR ₹5,00,00,000/- (Equivalent US$ at the time of Disbursement)" to "up to US$500,000/- (equivalent INR at the time of Disbursement)"

Related Party Transaction Status

The transaction qualifies as a related party transaction since Glottis Inc. is a wholly owned subsidiary. However, the company states that the transaction is conducted at "arm's length basis."

Impact Assessment

The amendment is not expected to have any adverse impact on the business operations or financial position of the Company. According to the disclosure, the revised terms are intended to simplify the terms and the processes.

Additional Information

  • No security provided for the loan
  • No special rights like right to appoint directors, first right to share subscription, or right to restrict any change in capital structure
  • No potential conflict of interest arising out of such agreements
  • The disclosure is available on the company website at https://www.glottislogistics.in/