From time to time, we and/or our directors and management are involved in litigation, claims and other proceedings relating to the conduct of our business, including environmental claims, non-compliance with provisions of our various licenses, tax disputes and proceedings involving the securities dealings of our directors. Any claims could result in litigation against us and could also result in regulatory proceedings being brought against us by various government and state agencies that regulate our business. Often these cases raise complex factual and legal issues, which are subject to risks and uncertainties and which could require significant time from our directors and/or our management, Promoters or Adani Group Companies. Litigation and other claims and regulatory proceedings against us or our management could result in unexpected expenses and liabilities and could also materially adversely affect our business, prospects, financial condition and results of operations. Currently, there are outstanding legal proceedings against us that are incidental to our business and operations, including certain criminal proceedings against our Company, certain of our Directors, Promoters and our subsidiaries. These proceedings are pending at different levels of adjudication before various courts, tribunals, enquiry officers and appellate tribunals. Such proceedings could divert management time and attention, and consume financial resources in their defense. Further, an adverse judgment in some of these proceedings could have a material adverse effect on our business, prospects, financial condition and results of operations. For further details, see “Legal Proceedings”. In addition, other Adani Group Companies from time to time are involved in litigation, claims and other proceedings relating to the conduct of their businesses, including environmental claims, proceedings relating to abuse of market position, tax disputes and proceedings involving securities dealings by other Adani Group Companies and/or their directors. Any such claims could result in litigation and/or regulatory proceedings against the Adani Group, which could harm our reputation as a member of the Adani Group and materially adversely affect our business, prospects, financial condition and results of operations. (D) Disclosure of legal proceedings in relation to Customs Act and DRI Show Cause Notice Litigation Relating to Directors There are three outstanding legal proceedings involving Mr. Gautam S. Adani. These relate to: (i) a civil dispute filed by Container Corporation of India Limited seeking to restrain the defendants named therein, including AEL and Mr. Gautam Adani, from proceeding with a cold chain project; (ii) the alleged violation of certain provisions of the Customs Act, 1962 (the “Customs Act”) relating to the alleged misuse of an advance license granted to a third party for the import of metallurgical coke and the evasion of customs duty in relation thereto; and (iii) the alleged violation of certain provisions of the Customs Act relating to the import and misuse of an aircraft. These proceedings are pending at various stages of adjudication. There are certain outstanding legal proceedings involving Mr. Rajesh S. Adani in relation to alleged violations of the Customs Act, the Foreign Exchange Regulations Act, 1973 and FEMA. Such proceedings relate to alleged violations stemming from the import and export of various items by AEL, investment in a wholly-owned subsidiary without prior approval from the RBI and remittance of overseas agency commission. These proceedings are pending at various stages of adjudication. 59