Mahindra & Mahindra Financial Services Ltd has informed that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on February 19, 2008, inter alia, have approved the following:
1. Increase in the Authorised Share Capital of the Company from Rs 140 crores to Rs 160 crores and consequential alteration of Clause V of the Memorandum of Association and Article 3 of the Articles of Association of the Company.
2. Pursuant to the provisions of Section 81(1A) and all other applicable provisions of the Companies Act, 1956 authorising the Board of Directors / Committee of the Board to create, offer, issue and allot to TPG-Axon (Mauritius) II Ltd and Standard Chartered Private Equity (Mauritius) Ltd cumulatively upto 1,09,00,000 (One Crore Nine Lakhs) Equity Shares of Rs 10 (Rupees Ten) each at a premium of Rs 370 (Rupees Thee Hundred Seventy) per share aggregating Rs 414,20,00,000 (Rupees Four Hundred and Fourteen Crores Twenty Lakhs) in terms of and on the conditions specified in the SEBI (Disclosure & Investor Protection)Guidelines, 2000, on a preferential allotment basis.
1. Increase in the Authorised Share Capital of the Company from Rs 140 crores to Rs 160 crores and consequential alteration of Clause V of the Memorandum of Association and Article 3 of the Articles of Association of the Company.
2. Pursuant to the provisions of Section 81(1A) and all other applicable provisions of the Companies Act, 1956 authorising the Board of Directors / Committee of the Board to create, offer, issue and allot to TPG-Axon (Mauritius) II Ltd and Standard Chartered Private Equity (Mauritius) Ltd cumulatively upto 1,09,00,000 (One Crore Nine Lakhs) Equity Shares of Rs 10 (Rupees Ten) each at a premium of Rs 370 (Rupees Thee Hundred Seventy) per share aggregating Rs 414,20,00,000 (Rupees Four Hundred and Fourteen Crores Twenty Lakhs) in terms of and on the conditions specified in the SEBI (Disclosure & Investor Protection)Guidelines, 2000, on a preferential allotment basis.
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