Pursuant to Section 110 of the Companies Act, 2013, read with Companies (Management and Administration) Rules, 2014, the Company has conducted the process of Postal Ballot (including e-voting) for seeking consent of the members by means of Special Resolution under Section 68 of the Companies Act, 2013 (the Companies Act) for buyback of not exceeding 10,20,408 (Ten Lakhs Twenty Thousand Four Hundred And Eight Only) equity shares of the Company, from all the equity shareholders on a proportionate basis through the Tender Offer route as prescribed under the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, as amended from time to time at a price of Rs. 4,900 (Rupees Four Thousand Nine Hundred Only) per equity share payable in cash for an aggregate amount of Rs.499,99,99,200 (Rupees Four Hundred Ninety Nine Crores Ninety Nine Lakhs Ninety Nine Thousand and Two Hundred Only).
The Special Resolution as set out in the Notice of Postal Ballot dated June 06, 2017 has been approved by the members of the Company with the requisite majority.
Please find enclosed the voting results of the Postal Ballot (including e-voting) in the format prescribed under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 as Annexure I and the copy of the Scrutinizers report as Annexure II.
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