Board approves acquisition of debt by way of assignment from Kshitij Polyline for ₹10,35,35,520

Deep Health AI India Ltd's Board approved acquisition of debt by way of assignment from M/s. Kshitij Polyline Ltd.

Mon 5 Oct 2026

Assignment Consideration

₹10,35,35,520/-

Assigned Debt Value

₹10,35,35,520/-

Underlying Security

pledge of 4,900 equity shares, representing 49% of the equity shareholding of Sparion Infrastructure Private Limited

Assignment Basis

"as is where is", "as is what is" and "without recourse" basis

Related Party Status

Not a related party transaction; the parties are not related to the promoter/promoter group

What the company told the exchange

Deep Health AI India Limited (formerly known as Deep Diamond India Limited) informed BSE that its Board of Directors, at a meeting held on Monday, October 05, 2026 through video conferencing, approved the acquisition of debt by way of assignment from M/s. Kshitij Polyline Limited, and matters incidental thereto. The Board meeting commenced at 03:00 P.M and concluded at 05:45 P.M.

Who is involved

• Assignor: M/s. Kshitij Polyline Limited
• Assignee: Deep Health AI India Limited
• Borrower/Debtor whose debt is being acquired: Sparion Infrastructure Private Limited

The company proposes to enter into a Deed of Assignment of Debt with the Assignor to acquire the debt due from Sparion Infrastructure Private Limited, together with the related rights, benefits, claims and underlying security.

The money involved

• Assignment consideration: ₹10,35,35,520/-
• The Assigned Debt being acquired is also stated as ₹10,35,35,520/-

What comes along with the debt

Along with the rights, benefits and claims, the underlying security includes the benefit of pledge of 4,900 equity shares, representing 49% of the equity shareholding of Sparion Infrastructure Private Limited.

On what basis the deal is done

The assignment is on an "as is where is", "as is what is" and "without recourse" basis. In simple terms, the debt is taken in the condition it is in, and the terms stated describe it as without recourse.

Related party position

The update states the parties are not related to the promoter/promoter group or group companies in any manner, and that the transaction is not a related party transaction. The update also states that there is no shareholding of the company in the entity with whom the agreement is executed, and that there is no issuance of shares to the parties.

How to read it

This is a purchase of debt, not an issuance of shares, so the transaction itself does not change the company's share capital. The company is paying ₹10,35,35,520/- to acquire a debt stated at the same amount owed by Sparion Infrastructure Private Limited, along with the security backing it, which includes the benefit of a pledge over 4,900 equity shares, or 49% of that company's equity shareholding. The company's own description of the basis — "as is where is", "as is what is" and "without recourse" — is the framing the update uses for how the acquisition is being taken on.

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