1. Ghcl Textiles Limited, 2. Ghcl Limited

GHCL Limited

Annexure 10

Summary of the Proposed Combination

[In terms of Regulation 13(1 A) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations), 2011, as amended on 26 November 2020]

A. Name of the parties to the Proposed Combination

GHCL Limited and GHCL Textiles Limited (herein collectively referred to as parties).

• B. The nature and purpose of the Combination

The Board of Directors of the GHCL Limited ('GHCL' or 'Demerged Company'), an Indian public limited company listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), have approved a Scheme of Arrangement, on 6-December-2021, involving an internal restructuring of its business by way of a demerger of its Spinning division into its wholly owned subsidiary company named GHCL Textiles Limited. ('Resulting Company') - hereinafter referred to as 'Proposed Demerger' or 'Proposed Transaction' or 'Scheme'. The Board of Directors of the GHCL Textiles Limited also approved the Scheme on 6-December-2021.

Pursuant to such Proposed Demerger, the Resulting Company will be engaged in the demerged Spinning business division. Shareholders of GHCL will receive shares in the Resulting Company basis swap ratio of 1: 1 resulting in mirror shareholding pattern of the GHCL and the Resulting Company. The Resulting Company will then not remain a subsidiary of GHCL post the Proposed Demerger, as the pre-demerger capital held by GHCL in the Resulting Company will get cancelled as part of the Scheme.