Rita Finance and Leasing Ltd

Dear Sir(s)We have submitted our application to the RBI and have been diligently following up on its progress. At this stage we regret to inform you that our application is still pending before the RBI. Despite our best efforts and continuous engagement with the RBI officials we have not yet received a communication or response regarding the approval of our requested change of management.We understand the importance of this matter to all our shareholders and we assure you that we are actively monitoring the situation and maintaining regular communication with the RBI. Rest assured if there are any updates or if we receive any communication from the RBI we will promptly inform you and provide all relevant details regarding the progress of our application.