The Company has received an intimation from Mahindra Holidays & Resorts India Limited, a listed\r\nsubsidiary of the Company ('MHRIL') informing that pursuant to the conversion of 25,000 7% Noncumulative\r\nRedeemable Participating Optionally Convertible Preference shares of Rs.10 each held by\r\nMHRIL in Guestline Hospitality Management and Developement Services Limited ('Guestline') into\r\n25,000 Equity Shares of Rs.10 each on December 2, 2022, Guestline has become a subsidiary of MHRIL\r\nPursuant to the above, Guestline has also become a subsidiary of the Company with effect from with\r\neffect from 2nd December, 2022.