Extension of the Date of Redemption of Preference Shares - SR

Resolution For The Extension Of The Date Of Redemption Of Preference Shares (For Variation Of Rights)

“RESOLVED THAT consent of shareholders be and is hereby accorded to the variation of the rights attached to the Equity Shares of the Company deemed to have been caused by reason of extension of the date of redemption and increase in rate of interest of __% Redeemable Cumulative Preference Shares (First Series) of Rs.___ each fully paid-up, agreed to by the holders of the said Preference Shares.

Explanatory Statement;

First Series of _____ — __% Redeemable Cumulative Preference Shares of Rs. ___ each fully paid-up issued by the Company in ____ fell due for redemption on ______, 20__ The date was extended and accordingly the shares were to be redeemed in five equal installments of ` ___ lakhs each annually commencing from .......20.... In the interest of the Company it has been considered expedient not to redeem these Preference Shares immediately.

In any case, in the absence of the required reserves it would not be possible to redeem the said Preference Shares in terms of Section 55 of the Companies Act, 2013. The Company’s request to the Preference Shareholders to give their consent to this effect is under their consideration. A meeting of the holders of these 11% Redeemable Cumulative Preference Shares (First Series of Rs.___ each fully paid-up) has been convened to consider the necessary resolution for extension of date of redemption and increase in the rate of interest.

As holders of the Equity Shares, your rights are deemed to be affected from the date of extension of redemption in respect of First Series of the Preference Shares as aforesaid.

It is, therefore, proposed that your consent be obtained to such variation of your rights as per the resolution.

The necessary resolution for extending the date of redemption of and increasing the rate of dividend on the __% Redeemable Cumulative Preference Shares of the company is included separately in the notice.

Directors of the company are not interested in the said resolution except to the extent of their shareholdings.

Private Placement of Cumulative Redeemable Preference Shares - SR

Special Resolution for private placement of Cumulative Redeemable Preference Shares pursuant to Section 42, 55 and 62 of Companies Act, 2013

“RESOLVED THAT pursuant to the provisions of Sections 42, 55, 62 and such other applicable provisions, if any, of the Companies Act, 2013 (“Act”) read with the Rules framed there under, as amended from time to time and subject to the Memorandum and the Articles of Association of the Company and the regulations/guidelines, if any, prescribed by any relevant authorities from time to time, to the extent applicable and subject to such other approvals, permissions and sanctions, as may be necessary and subject to such conditions and modifications as may be considered necessary by the Board of Directors (hereinafter referred to as the “Board”, which term shall be deemed to include any Committee thereof or persons nominated by the Board, exercising the powers conferred on the Board by this Resolution, for the time being) or as may be prescribed or imposed while granting such approvals, permissions and sanctions which may be agreed to by the Board, consent of the Company be and is hereby accorded to the Board to create, offer and/or invite to subscribe, issue and allot, for cash at par, upto __________ Cumulative Redeemable Preference Shares (“CRPS”) of ___/- each for an aggregate amount not exceeding Rs. _________(“Offer-1”), on a private placement basis, during financial year ________, to such person or persons, whether or not they are Member(s) of the Company, and on such terms and conditions as set out in the Explanatory Statement annexed to the Notice convening this meeting.

RESOLVED FURTHER THAT in accordance with the provisions of Section 55 of the Act and the Companies (Share Capital and Debentures) Rules, 2014, the particulars in respect of this offer are, as under:

(i) CRPS shall carry a preferential right vis-à-vis Equity Shares of the Company with respect to payment of dividend or repayment of capital;

(ii) CRPS shall be non participating in the surplus funds;

(iii) CRPS shall be non-participating in the surplus assets and profits which may remain after the entire capital has been repaid, on winding up of the Company;

(iv) holders of CRPS shall be paid dividend on a cumulative basis;

(v) CRPS shall not be convertible into equity shares;

(vi) CRPS shall carry voting rights as per the provisions of Section 47(2) of the Act; and

(vii) CRPS shall be redeemable.

RESOLVED FURTHER THAT the Board, be and is hereby authorized to do all such acts, deeds and things and take all such steps and actions, execute all such deeds, documents and writings and also give such directions and delegations, as it may in its absolute discretion deem fit, including paying such fees and incurring such expenses in relation thereto and file documents, forms, etc. as required with the regulatory/ statutory authorities and authorise the officials of the Company for the aforesaid purpose, as deemed fit.”