Addendum to Notice of attachment of Bank account for Recovery proceedings against (1) Affiance Industries Limited (PAN: AAICA5323K) and its other directors viz. (2) Habib Sarkar (PAN: CNNPS3625P), (3) Morshed Mehedi Hossain (PAN: AHFPH2742C), (4) Lal Mahammad (PAN: Not Available), (5) Mir Rabiul Islam (PAN: Not Available), (6) Raja Mamun Hasan (PAN: AEOPH4986G) and (7) Minarul Mondal (PAN: AYXPM0255E) (8) Washim Raja Anasari (PAN: AQXPA6875G) (9) Md. Shariful Haque (PAN: AENPH1494N) jointly and severally in the matter of Affiance Industries Limited (AAICA5323K)

Affiance Industries Limited and its nine directors have received a formal notice to attach their bank accounts for recovery proceedings. This legal action indicates that the company is facing significant financial difficulties and is being pursued by creditors to recover outstanding dues.

For investors, this development signals serious financial distress for Affiance Industries. The attachment of bank accounts severely restricts the company's ability to meet its immediate financial obligations, which could lead to operational disruptions and a negative impact on its credit rating.

Investors should closely monitor the company's future disclosures regarding its liquidity position and any potential restructuring plans. The outcome of these recovery proceedings will be a key factor in assessing the long-term viability of the business.