Indiabulls Financial Services Ltd has informed that the Board of Directors of the Company at its meeting held on February 05, 2008, has decided to obtain the approval of the Members of the Company through Postal Ballot pursuant to Section 192A of the Companies Act, 1956 (the Act) read with the Companies (Passing of Resolution by Postal Ballot) Rules, 2001 (the Rules) for the following items:
1. Fund raising of upto Rs 4,000 Crores in one or more tranches in each of the following:
a. Issue of shares by International Offerings through an issue of convertible securities / ADRs / GDRs and FCCBs convertible into Equity Shares of the Company.
b. Issue of Equity Shares / Fully convertible Debentures (FCD) / Partly convertible Debentures (PCD) or any other securities other than warrants, which are convertible into or exchangeable with the equity shares at a later date of the Company to Qualified Institutional Buyers (QIB) within the meaning of Chapter XIII A of the SEBI (Disclosure & investor protection) Guidelines 2000 For Qualified Institutional Placement (SEBI DIP Guidelines).
c. Issue of Equity Shares / Fully convertible Debentures (FCD) / Partly convertible Debentures (PCD) / Optionally Convertible Debentures (OCD) / Debentures with right to subscribe to Equity Shares / Convertible / Non Convertible Preference Shares / Bonds / Non Convertible Debentures with detachable warrants / any other Financial instruments convertible or otherwise of the Company.
2. To alter the Main Objects Clause of the Memorandum of Association of the Company authorizing it to carry on the Corporate Insurance Agency Business.
3. To amend the Articles of the Company, to facilitate appointment of Chairman and / or ViceChairman.
1. Fund raising of upto Rs 4,000 Crores in one or more tranches in each of the following:
a. Issue of shares by International Offerings through an issue of convertible securities / ADRs / GDRs and FCCBs convertible into Equity Shares of the Company.
b. Issue of Equity Shares / Fully convertible Debentures (FCD) / Partly convertible Debentures (PCD) or any other securities other than warrants, which are convertible into or exchangeable with the equity shares at a later date of the Company to Qualified Institutional Buyers (QIB) within the meaning of Chapter XIII A of the SEBI (Disclosure & investor protection) Guidelines 2000 For Qualified Institutional Placement (SEBI DIP Guidelines).
c. Issue of Equity Shares / Fully convertible Debentures (FCD) / Partly convertible Debentures (PCD) / Optionally Convertible Debentures (OCD) / Debentures with right to subscribe to Equity Shares / Convertible / Non Convertible Preference Shares / Bonds / Non Convertible Debentures with detachable warrants / any other Financial instruments convertible or otherwise of the Company.
2. To alter the Main Objects Clause of the Memorandum of Association of the Company authorizing it to carry on the Corporate Insurance Agency Business.
3. To amend the Articles of the Company, to facilitate appointment of Chairman and / or ViceChairman.
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