Tarsons Products : Monitoring Agency Report

AXB/CO/IFB-TS/2022-23/41

May 24, 2022

To,

Tarson Products Limited,

Martin Burn Business Park,

Room no. 902, BP-3

Salt Lake, Sector -V,

Kolkata 700 091

Dear Sir,

Sub: Tarson Products Limited - Revised Monitoring Agency Report

We write in our capacity of Monitoring Agent to the Company and refer to our duties cast under Regulation 82(2) of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018.

In terms of above, please find attached the Revised Monitoring Agency Report for the quarter ended on December 31, 2021 as per Schedule XI of the aforesaid SEBI Regulations as amended.

Request you to kindly take the same on records.

Thanking you.

Yours Faithfully,

For and on behalf of Axis Bank Ltd,

Meet Soni

Manager

Corporate Office : Axis House, 4th Floor, South Wing, C-2, Wadia International Centre, Pandurang Budhkar marg, Worli, Mumbai - 400025. www.axisbank.com

Revised Report of the Monitoring Agency

Name of the Issuer: Tarsons Products Limited

For quarter ended: 31st December 2021

Name of the Monitoring Agency: Axis Bank Limited

(a) Deviation from the objects: No Deviation

• Utilization different from Objects stated in the offer document but in line with change of objects approved by shareholders' resolution; or
• Utilization neither in line with Objects stated in the offer document nor approved by shareholders' resolution
• In case of no deviation, the fact would be stated.

(b) Range of Deviation*: 0%

Indicate range of percentage deviation from the amount of issue proceeds earmarked for objects. For example, up to 10%, 10 - 25%, 25-50%,50-75%,75-100%, not ascertainable etc.

• Range of Deviation may be computed by taking weighted average of financial deviation of each object in the ratio of issue proceeds allocated for it. Non-financial deviation may be indicated separately by way of notes.

Declaration:

We hereby declare that this report is based on the format as prescribed by Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. We further declare that this report provides true and fair view of the utilization of issue proceeds.

We declare that we do not have any direct / indirect interest in or relationship with the issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such relationship / interest while monitoring and reporting the utilization of issue proceeds by the issuer.

We also declare that the certificate is provided on the basis of management representation and certification provided by the Independent Chartered Accountant

For and on behalf of Axis Bank

Meet Soni

Manager

Corporate Office : Axis House, 4th Floor, South Wing, C-2, Wadia International Centre, Pandurang Budhkar marg, Worli, Mumbai - 400025. www.axisbank.com

1. Issuer Details: Name of the issuer: Tarsons Products Limited The names of the promoters of the issuer:

1. Mr. Sanjive Sehgal
2. Mr. Rohan Sehgal

Industry/sector to which it belongs: Manufacturing of Plastic Labware and Benchtop Instruments.

2) Issue Details:

Issue Period : 15/11/2021 to 17/11/2021

Type of issue (public/rights): Public

Type of specified securities: Equity shares

Grading: Not Applicable0

Issue size (` in Crores): 1023.54 crore

3) Details of the arrangement made to ensure the monitoring of issue proceeds:

(Give item by item description for all the objects, as well as for the sub-heads(if any)) given under objects, stated in the offer document separately in following format))

Particulars			Reply	Source of		Comments	Comments
				information	of	of Board of
				/certifications	Monitoring	Directors
				considered		Agency
				by
				Monitoring
				Agency for
				preparation
				of report"
Whether all the utilization is as per	Yes/No	Certificate		Yes	Yes
disclosure in Offer Document?			provided	by
				the chartered
				Accountant
Whether	Shareholder approval	is	Yes/No	Certificate		No	Not
obtained in case of material deviations#		provided	by		Applicable
from expenditures disclosed in Offer		the chartered
Document?				Accountant
Whether means of finance for disclosed	Yes/No	Certificate		No	No
objects of the Issue has changed?			provided	by
				the chartered
				Accountant
Any major deviation observed over the	Yes/No				No
earlier monitoring agency reports?
Whether all Government / Statutory	Yes/No				Yes
approvals related to the object(s)
obtained?
Whether all arrangements pertaining to	Yes/No				Yes
technical	assistance/collaboration	in
operation?
Any favorable events improving object(s)	Yes/No				No
viability

Corporate Office : Axis House, 4th Floor, South Wing, C-2, Wadia International Centre, Pandurang Budhkar marg, Worli, Mumbai - 400025. www.axisbank.com

Any unfavorable events affecting	Yes/No			No
object(s) viability
Any other relevant information that may	Yes/No			No
materially affect the decision making of
the investors
# Where material deviation may be defined to mean:

1. Deviation in the objects or purposes for which the funds have been raised
2. Deviation in the amount of fund actually utilized by more than 10% of the amount projected in the offer documents.

4) Details of object(s)s to be monitored:

1. Cost of object(s):

(Give item by item description for all the objects, as well as for the sub-heads(if any)) given under objects, stated in the offer document separately in following format)

(₹/Crores)

Sl

Item Head

Original

Revis

Source of

Comme

Comments of

Board

of

.

Cost (as

ed

informati

nts of

Directors

N

per

Cost

on /

Monitor

o

Offer

certificati

ing

Docume

ons

Agency

nt)

considere

d by

Monitori

ng

Agency

for

preparati

on of

report

Reaso

Propos

Particular

n of

ed

s of

firm

cost

financi

arrangem

revisi

ng

ents made

on

option

1

Funding

capital

62.00

62.00

Monitorin

NA

NA

NA

NA

expenditure for

g

Agency

the

Proposed

Agreemen

Expansion

t

&

CA

Certificati

on

2

Repayment/prepa

78.54

78.54

Monitorin

NA

NA

NA

NA

yment

of

certain

g

Agency

borrowings of our

Agreemen

Company

t

&

CA

Certificati

on

3

General corporate

1.621

1.621

Monitorin

NA

NA

NA

NA

purposes

g

Agency

Agreemen

Corporate Office : Axis House, 4th Floor, South Wing, C-2, Wadia International Centre, Pandurang Budhkar marg, Worli, Mumbai - 400025. www.axisbank.com