Bto Fpi III Pte. Ltd.

SUMMARY UNDER REGULATION 13 (1A) OF THE COMPETITION COMMISSION OF INDIA (PROCEDURE IN REGARD TO THE TRANSACTION OF BUSINESS RELATING TO COMBINATIONS), REGULATIONS, 2011 (AS AMENDED)

(a) Parties to the Combination

1. The parties to the combination are—

• (a) BTO FPI III Pte. Ltd. ( Investor );

• (b) Future Lifestyles Fashion Limited ( FLFL ); and

• (c) Ryka Commercial Ventures Private Limited ( Ryka )

1. FLFL and Ryka are collectively referred to as the Targets. The Investor and the Targets are collectively referred to as the Parties .

(b) Nature and purpose of the Combination

1. The transaction relates in relation to the financing facility extended by the Investor to Ryka by way of subscription to redeemable non-convertible debentures and as a security, acquisition of minority shareholding in FLFL ( Transaction ) .

1. The Transaction is in the nature of an acquisition and falls under Section 5(a) of the Competition Act, 2002 ( Competition Act ) and Schedule III, read with sub-regulation (1) of Regulation 5A of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 ( Green Channel filing ) introduced by the Hon’ble Competition Commission of India, effective from 15 August 2019.