NOTICE
NOTICE IS HEREBY GIVEN THAT THE EXTRA-ORDINARY GENERAL MEETING OF JHAVERI FLEXO INDIA LIMITED
TH
WILL BE HELD ON MONDAY, THE 13 DAY OF FEBRUARY, 2017 AT 10.00 A.M. AT GUT NO. 74, FAROLA, PAITHAN
ROAD, AURANGABAD - 431105 TO TRANSACT THE FOLLOWING BUSINESS:
SPECIAL BUSINESS:
1)
To consider and if thought fit to pass with or without modifications the following resolution as a Special
Resolution:
“RESOLVED THAT is supersession of all earlier resolutions passed in this regard and in accordance with
the provision of Section 61(1)(b) and other applicable provisions if any, of the Companies Act, 2013,
(including any statutory modification or re-enactment thereof for time being in force), read with Articles
of Association of the Company, and any other approval(s), consent(s), permission(s) and sanction(s) etc.
as may be required from any government or other authority, consent of the shareholders be and are
hereby accorded for consolidation of the entire issued, subscribed and paid up equity shares in the equity
share capital of the Company by increasing the nominal value of the equity shares from Rs. 5/- (Rupees
Five only) each to Rs. 5,000/- (Rupees Five Thousands only) each so that every 1,000 (One Thousand)
equity shares with nominal value of Rs. 5/- (Rupees Five only) each held by a shareholders are
consolidated and re-designated into 1 (one) equity share with nominal value of Rs. 5,000/- (Rupees Five
Thousand only) each or any other nominal / face value as may be approved by National Company Law
Tribunal (NCLT) or any other appropriate authority (ies).
RESOLVED FURTHER THAT:
(A) no shareholder shall be entitled to a fraction of a share as a result of implementation of this resolution
for consolidation of shares, and the Company shall not issue any certificate or coupon in respect of such
fractional shares; and
(B) all fractional shares resulting from consolidation shall be aggregated into whole shares and held by
trustee(s) appointed by the Board for the benefit of shareholders and equity share certificates shall be
issued in the name of the Trustee(s) so appointed. Such Trustee(s) shall as soon as possible dispose the
said whole shares to such person(s) as they deem fit in consultation with Board of Directors at a price
which is equal to Rs. 26 (Rupees Twenty Six only) each per equity share of Rs. 5/- (Rupees Five only) each
or at such higher price, if required, by any law in force and the sale proceeds shall be distributed
proportionately amongst the shareholders who would otherwise be entitled to such fractional shares.
RESOLVED FURTHER THAT the consolidation of shares be determined on the basis of those shareholders
st
whose names appear in the Register of Shareholders as on 31 March, 2017 or such other date as may be
fixed by the Board of Directors of the Company in this regard (hereinafter referred to as the “Record
Date”).
RESOLVED FURTHER THAT:
(a) in case of shares held in physical form, the existing share certificates issued to the holders of the equity
shares of the Company be treated as cancelled from the Record Date, and the Company may without
requiring the surrender of the equity share certificates directly issue and dispatch the new share
certificates of the Company, in accordance with the provisions of the Companies Act, 2013 read with
Companies (Share Capital and Debentures) Rules, 2014.
(b) in case of shares held in dematerialized form, the respective beneficiary accounts of the shareholders who
hold the shares of the Company in dematerialized form be credited with consolidated equity shares in lieu
of their existing shares.
RESOLVED FURTHER THAT the Board of Directors (which term shall include any Committee thereof) of the
Company be and are hereby authorized to do all such acts, deeds and matters as they may in their
absolute discretion deem necessary, expedient or desirable for completing the consolidation of shares of
the Company and giving effect to the foregoing resolutions, including without limitation (a) consolidation
of all fractional entitlements of shareholders of the Company and dealing with the same in accordance
with the Articles of Association of the Company and taking all other actions to facilitate the process of
consolidation, including the issue and transfer of new shares in lieu of fractional entitlements of
shareholders; (b) settlement of any questions, difficulties or doubts with respect to the foregoing
resolution and / or delegation of any of their powers to such person, committee etc. as may be authorized
by the Board.”
2)
To consider and if thought fit, to pass with or without modifications, the following resolution as an
Ordinary Resolution:
"RESOLVED THAT in accordance with the provisions of Section 4, 13, 61 and other applicable provisions, if
any, of the Companies Act, 2013 (“ the Act”) read with the relevant rules there under (including any
statutory modification or re-enactment thereof, for the time being in force) and in accordance with rules,
regulations/guidelines, if any, prescribed by any relevant authorities from time to time, to the extent
applicable and such other approval(s), permission(s) and sanction(s), as may be necessary, Clause V of the
Memorandum of Association of the Company be deleted and the following be substituted or other suitably
altered share capital clause in terms of approval received from National Company Law Tribunal (NCLT) or
any other appropriate authority(ies):
The Authorized Share Capital of the Company is Rs. 25,00,00,000/-(Rupees Twenty-Five Crores Only)
divided into 50,000 (Fifty Thousand Only) Equity Shares of Rs. 5,000/- (Rupees Five Thousand Only) each.
RESOLVED FURTHER THAT any Director of the Company, be and is hereby authorized to sign and submit
the necessary application and Forms with appropriate authorities and to perform all such acts, deeds and
things as he may in his absolute discretion deem necessary or desirable for and on behalf of the Company
for the purpose of giving effect to aforesaid resolution.”
By Order of the Board of Directors
Place: Mumbai
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Date: 10 January, 2017
Sd/Rajul S. Jhaveri
Chairperson
(DIN: 00093998)
NOTES:
1. The Explanatory Statement, pursuant to Section 102 of the Companies Act, 2013 in respect of the business
under Item Nos. 1 and 2 of the Notice, is annexed hereto.
2. A Member entitled to attend and vote at the Extra-Ordinary General Meeting (EOGM) is entitled to appoint a
proxy to attend and vote instead of himself and the proxy need not be a member of the Company. The
instrument appointing the proxy, in order to be effective, must be deposited at the Company’s Registered
Office, duly completed and signed, not less than forty-eight hours before the meeting. Proxies submitted on
behalf of companies, societies, partnership firms etc., must be supported by appropriate resolutions/authority,
as applicable. A person can act as proxy on behalf of Members not exceeding fifty and holding in the aggregate
not more than ten percent of the total share capital of the Company. In case a proxy is proposed to be
appointed by a Member holding more than ten percent of the total share capital of the Company carrying
voting rights, then such proxy shall not act as a proxy for any other person or shareholder. No photo copy
/scanned copy of the completed proxy form will be accepted.
3. In case of joint holders attending the Meeting, only such joint holder who is higher in the order of names will be
entitled to vote.
4. Members are requested to bring their duly filled up attendance slip to be submitted before the start of
Meeting.
5. Members holding shares in electronic form are requested to intimate immediately any change in their
addressor bank mandates to their Depository Participants with whom they are maintaining their demat
accounts. Members holding shares in physical form are requested to advise any change in their address or bank
mandates immediately to the Company / RTA.
6. To support the ‘Green Initiative’, Members who have not registered their e-mail addresses so far are requested
to register their e-mail address with the Registrar and Share Transfer Agent M/s. Link Intime India Private
Limited for receiving all communication including Annual Report, Notices, and Circulars etc. from the Company
electronically.
7. The Securities and Exchange Board of India (SEBI) has mandated the submission of Permanent Account Number
(PAN) by every participant in securities market. Members holding shares in electronic form are, therefore,
requested to submit their PAN to their Depository Participants with whom they are maintaining their demat
accounts. Members holding shares in physical form can submit their PAN to the Company / RTA.
8. Non-Resident Indian Members are requested to inform RTA, immediately of:
a) Change in their residential status on return to India for permanent settlement.
b) Particulars of their bank account maintained in India with complete name, branch, account type, account
number and address of the bank with pin code number, if not furnished earlier.
9. Pursuant to the provisions of Section 108 of the Companies Act, 2013 and Rule 20 of the
Companies(Management and Administration) Rules 2014, the Company is pleased to provide members facility
to exercise their votes at the EGM by electronic means and the business may be transacted through e-voting as
per instructions below:
• Date and time of commencement of voting through electronic means: 10.02.2017 at 10.00 A.M.
• Date and time of end of voting through electronic means beyond which voting will not be allowed:
12.02.2017 at 05.00 P.M.
• Details of Website: www.evotingindia.com
• Instructions for e-voting are given here Annexure to the Notice.
• Details of Scrutinizer: Vikas R Chomal & Associates (CP No. 12133)
The e-voting module shall be disabled for voting after 5.00 p.m. on 12.02.2017. Once the vote on a resolution is
cast by the shareholder, the shareholder shall not be allowed to change it subsequently. The voting right of
shareholders shall be in proportion to their share in the paid up equity share capital of the Company as on the
th
cut-off date (record date) as on 6 February, 2017.
Vikas R Chomal & Associates, Company Secretary in Practice, Mumbai, has been appointed as the Scrutinizer to
scrutinize the e-voting process in a fair and transparent manner. The Scrutinizer shall within a period not
exceeding two (2) working days from the conclusion of the e-voting period, unblock the votes in the presence
of at least two (2) witnesses not in the employment of the Company and make a Scrutinizer’s Report of the
votes cast in favour or against, if any, forthwith to the Chairman of the Company.
The Results shall be declared on or after the EGM of the Company. The Results declared along with the
Scrutinizer’s Report shall be placed on the Company’s website www.jhaveriflexo.com and on the website of
CDSL within two (2) days of passing of the resolutions at the EGM of the Company.
10. The facility for voting through polling paper shall also be made available at the meeting and members
attending the meeting who have not already cast their vote by remote e-voting shall be able to exercise their
right at the meeting.
11. The members who have cast their vote by remote e-voting prior to the meeting may also attend the meeting
but shall not entitle to cast their vote again.
Route map to reach meeting venue from Aurangabad Railway station
THE INSTRUCTIONS FOR MEMBERS FOR VOTING ELECTRONICALLY ARE AS UNDER:th
th
(i)
The voting period begins on 10 February, 2017 at 10.00 A.M. and ends on 12 February, 2017 at 5.00
P.M. During this period shareholders’ of the Company, holding shares either in physical form or in
th
dematerialized form, as on the cut-off date (record date) of 6 February, 2017 may cast their vote
electronically. The e-voting module shall be disabled by CDSL for voting thereafter.
(ii)
The shareholders should log on to the e-voting website www.evotingindia.com.
(iii)
Click on Shareholders.
(iv)
Now Enter your User ID
a.
For CDSL: 16 digits beneficiary ID,
b.
For NSDL: 8 Character DP ID followed by 8 Digits Client ID,
c.
Members holding shares in Physical Form should enter Folio Number registered with the
Company.
(v)
Next enter the Image Verification as displayed and Click on Login.
(vi)
If you are holding shares in demat form and had logged on to www.evotingindia.com and voted on an
earlier voting of any company, then your existing password is to be used.
(vii)
If you are a first time user follow the steps given below:
For Members holding shares in Demat Form and Physical Form
PAN
Dividend Bank
Details
OR

Enter your 10 digit alpha-numeric *PAN issued by Income Tax Department (Applicable
for both demat shareholders as well as physical shareholders)

Members who have not updated their PAN with the Company/Depository Participant
are requested to use the sequence number which is printed on Postal Ballot /
Attendance Slip indicated in the PAN field.

Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy format) as recorded
in your demat account or in the company records in order to login.

If both the details are not recorded with the depository or company please enter the
member id / folio number in the Dividend Bank details field as mentioned in
instruction (iv).
Date of Birth
(DOB)
(viii)
After entering these details appropriately, click on “SUBMIT” tab.
(ix)
Members holding shares in physical form will then directly reach the Company selection screen. However,
members holding shares in demat form will now reach ‘Password Creation’ menu wherein they are
required to mandatorily enter their login password in the new password field. Kindly note that this
password is to be also used by the demat holders for voting for resolutions of any other company on
which they are eligible to vote, provided that company opts for e-voting through CDSL platform. It is
strongly recommended not to share your password with any other person and take utmost care to keep
your password confidential.
(x)
For Members holding shares in physical form, the details can be used only for e-voting on the resolutions
contained in this Notice.
(xi)
Click on the EVSN for the relevant JHAVERI FLEXO INDIA LIMITED on which you choose to vote.
(xii)
On the voting page, you will see “RESOLUTION DESCRIPTION” and against the same the option “YES/NO”
for voting. Select the option YES or NO as desired. The option YES implies that you assent to the
Resolution and option NO implies that you dissent to the Resolution.
(xiii)
Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution details.
(xiv)
After selecting the resolution you have decided to vote on, click on “SUBMIT”. A confirmation box will be
displayed. If you wish to confirm your vote, click on “OK”, else to change your vote, click on “CANCEL” and
accordingly modify your vote.
(xv)
Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify your vote.
(xvi)
You can also take out print of the voting done by you by clicking on “Click here to print” option on the
Voting page.
(xvii)
If Demat account holder has forgotten the same password then enter the User ID and the image
verification code and click on Forgot Password & enter the details as prompted by the system.
(xviii)
Shareholders can also cast their vote using CDSL’s mobile app m-voting available for android based
mobiles. The m-Voting app can be downloaded from google play store. Apple and Windows phone users
can download the app from app store and the windows phone store respectively. Please follow the
instructions as prompted by the mobile app while voting on your mobile.
(xix)
Note for Non – Individual Shareholders and Custodians
(xx)

Non-Individual shareholders (i.e. other than Individuals, HUF, NRI etc.) and Custodian are required to log
on to www.evotingindia.com and register themselves as Corporates.

A scanned copy of the Registration Form bearing the stamp and sign of the entity should be emailed to
[email protected].

After receiving the login details a compliance user should be created using the admin login and password.
The Compliance user would be able to link the account(s) for which they wish to vote on.

The list of accounts should be mailed to [email protected] and on approval of the accounts
they would be able to cast their vote.

A scanned copy of the Board Resolution and Power of Attorney (POA) which they have issued in favour of
the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify the
same.
In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked Questions
(“FAQs”) and e-voting manual available at www.evotingindia.com, under help section or write an email to
[email protected].
EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013.
Th e fo l lo w i n g St a t e m e n t se t s o u t a l l m a t er ia l f a ct s r el a t in g t o t h e S p ec i a l Bu sin e ss
m ent i on e d i n t h e a c co m p a ny i n g N o ti ce :
Item No. 1
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Me mb e r s b e i n for m ed t h at a t t he A nn u a l Ge n er a l M e et i n g o f t he C o mp a n y h eld o n 25
A ugu s t, 2 01 6 th e S ha r eh o l d er s ha s a p p r o ved th e R e cl a ss i f ic a t i o n of Sh a r e ca pi t a l o f t h e
Co mp a n y b y co n so l id a t i n g fa c e va l u e o f Sh a r e s f r o m R s. 5 to R s. 1 0 , 00 , 00 0 e a ch a nd b a s ed
o n t h e a p p r o va l o f t h e S h a re ho l d e r s t h e C o mp a n y h a s ma d e a n a p p li ca t io n to N a t io n a l
Co mp a n y La w T ri b u na l ( N CL T ) fo r c on sol i d a t i o n o f fa c e va lu e o f sha r e s , h o w e v er it w a s l a t e r
a gr e ed t o r ed u c e t h e Co n so l id a t ed fa ce va l u e of sh a r e s u p t o R s. 5, 0 0 0 / - p er sh a r e .
In l in e w i th th e a b o ve th e Boa rd o f D ir e ct o r s h a s r e - co n si d er ed th e sa m e a n d d e ci d ed t o
ch a n ge th e f a c e va l u e o f sh a r e s fr o m R s. 5 / - p e r sha re to Rs. 5, 00 0/ - p er sh a r e o r a n y o t h e r
n o m i na l / f a c e va l u e a s m ay b e a p p r o v ed b y N a ti on a l Co mp a n y L a w Tr i b un a l ( N C L T) o r a n y
o th e r a p pr o p ri a t e au t h o ri ty (i e s ).
F ur t he r th e r e a so n fo r t h e Co n so l i d at i o n o f S h a r e ca p i ta l o f t h e C om p a ny i s a s u n d e r :
A s th e Sh a r eh o l d e r s o f th e C o mp a n y a r e a wa r e th a t t h e E qu i ty Sh a r e s o f t h e Co mp a n y w er e
l i st ed o n Bo mb a y S to ck E xc h a n g e & Ca l cu tt a S to ck E x ch a n g e - wh ich w er e d e li st ed i n t h e
y ea r 2 0 1 2 a ft e r d u e co m pl i a n c e s o f r e l e v an t p r o vi si o n s o f th e C o m p a ni e s A ct, 1 9 5 6 a n d
o th e r a p pl i ca b l e p r o vi si o ns a t t h a t p o in t o f t i m e .
Th e Co mp a n y h a d g i ve n o p en o f f er t o a l l th e s h ar e ho l d e r s o f th e Co mp a n y a s r eq u i re d u n d er
S E B I ( S ub st a n t ia l A cq u i s it io n o f Sh a r e s a n d Ta k e ov er s) R egu la t i on s, 19 9 7 . Th e E xi t P r i c e wa s
th
R s. 25 .5 0 / - p e r eq u i ty sh a r es o f R s. 5 / - e a ch a nd t h e sa id E xi t O f fe r wa s con cl u d e d o n 1 0
Ja n u a ry , 2 0 1 2.
In v i e w o f th e sa i d d el i st in g o f t h e sha r e s, t h e sha r e ho l d in g c o n ti n u in g wi th th e r e ma i ni n g
sh a r e h o ld e r s o f th e C o mp a n y h a s no w c ea s ed to b e ma r k et a bl e. S in c e t h e eq u i ty sh a r e s a r e
n o w n o t tr a d in g i n t h e S to ck E x ch a n g es , i t i s d i f fi cu l t f o r su ch sha r e h ol d er s to fi n d b uy e rs
fo r th e ir h o l d in g s in t h e C o m p a n y. M a n y s h a re ho l d e r s o f th e Co m p a n y, wh o co u ld no t
p a rt i c ip a t e i n ‘ E x i t O ff er ’ , h a ve b e en a p p ro a ch i n g t h e Co mp a n y a n d re qu e st in g fo r e xi t
o p po r t u n i ty .
Mo r eo v e r , t h e co st i n vo l v ed i n h a n d l in g an d se r v i ng th e l a r g e n u m b er o f sh a r eh o ld e r s i s
v ery h i gh , mo r e p a r ti cu la r l y wh en t h e ir h o ld i n g i n th e Co mp a n y i s ve r y sma ll . To a tt a in th e
o b je ct i v e o f r e d u c i ng a f o r e s a id co st on l o n g t e r m b a si s fo r t h e C om p a n y a n d p r o vi d in g ex it
o p po r t u n i ty to th e sha r eh o l d er s, i t i s in th e i n t er e st o f b o th , C o mp a n y a n d sh a r eh ol d e r s t o
co n si d e r a r eo r g a n iz a ti o n o f t h e sh a r e ca p i ta l o f th e Co mp a n y b y wa y o f a c o n so l id a t io n o f
sh a r e i n l a r g e r d en o m i n a ti o n, wh i ch w il l n ot o n l y h e lp t h e C o m pa n y t o re du c e t h e a fo re sa i d
co st on l o n g t er m b a s i s b ut wi ll a l so g i ve b et te r o p p o r t u ni t y t o l a r ge n u mb er o f
sh a r e h o ld e r s to l i q ui d a t e t h e ir sha r eh o l d in g s in c e th e eq ui t y sh a re s of t h e Co mp a n y a r e
d el i st e d fr o m t h e st o ck ex ch a n g e s. Th e sh a r e c o n so li d a ti o n i s th e p r a ct i ca l a n d ec o n o m i ca ll y
e ff i c i en t a va i l a bl e o p ti o n .
In li g h t o f th e ab o v e, i t i s p r op o s ed to co n so l id a t e th e e nt i r e i s su ed , s u bs cr ib ed a n d pa i d - u p
eq u it y sha r e s in th e sh a r e ca p it a l o f th e C o mp a n y b y in c r ea sin g th e n o mi n al / f a c e va l u e o f
th e eq u it y sh a r e s f r o m R s. 5 / - (Ru p e e s F i v e o nl y ) p er sha r e to R s. 5, 0 00 / - (Ru p e e s F i ve
Th ou s a n d s o n l y ) p e r sh a re s o t h a t e ve r y 1, 0 00 (On e Th o u sa n d s) eq u i t y sh a r e s wi t h n o mi n a l
va l u e o f R s . 5/ - ( Ru p e e s F i ve o n ly ) ea c h h el d by a sh a r eh o l d er s ar e co n so l id a t ed a n d re d e si g n a t ed i n to 1 ( on e ) eq u it y sha re w it h no m in a l va l u e o f R s . 5, 0 00 / - ( Ru p e e s F i ve
Th ou s a n d s o n ly ) ea ch o r a n y ot h er n o m i na l / f a c e va l u e a s ma y b e a pp r o ved b y N a t io n a l
Co mp a n y La w Tr ib u na l (N CL T) o r a ny ot h er a p p r o pr i a t e a u t ho r i ty (i e s) wi th ef f ec t f ro m t h e
Re co r d Da t e d et e r mi ne d fo r th i s p u r po s e. In t hi s co n n e ct i o n , C l au s e V of t h e M e mo r a nd u m
o f A sso c i a t io n o f th e C o mp a n y wi ll a l so h a ve t o b e su i ta b l y a m en d ed t o r e f l e c t t h e r e vi s ed
co n so l id a t ed sha re ca p i ta l o f th e C o mp a n y .
A ll sh a r eh o l d er s h o ld i n g ph y si ca l sh a r e c er t i fi ca t e s o n th e R e co r d D a t e, sh a l l r e ce i ve (to t h e
ext en t o f t h e i r en t it l e m en t t o eq ui t y sha r e s a ft er co n so l i da t i on ) sh a r e c e rt i fi ca t e s
r ep re sen t in g su ch co n so li d a t ed sh a r e s a n d t h e p r o p or t io n a t e a mo u nt fo r th e sa l e o f
fra ct i o na l e n ti tl e m en t s i f a n y , su b j ec t to d e d uct i o n o f t a x at sou r c e , i f a n y. F u r th e r , a l l
sh a r e c er t i f ic a t e s r ep r e s en t i n g th e ex is ti n g e q u i ty sha r e s sh a ll c e a se to ha ve e ff e ct o n t h e
st
Re co r d d a t e be in g 3 1 Ma r ch , 2 0 1 7.
A ll sh a r eh ol d e r s h o ld i n g t h e i r ex i sti n g s ha r e s un d e r de ma t e r ia li ze d f o r m o n R e c or d D a t e,
th e ir r e sp e ct i ve b en e f i c ia r y a c co un t s sh a ll b e cr ed i te d wit h c o n so l i d a te d fu l l y p a i d e q u it y
sh a r e s (to th e e x t en t o f t h ei r e n ti t l e me nt t o eq u i ty sha r e s a ft e r co n so l i d a ti o n) in l i eu of
ex i sti n g sh a r e s a n d th e i n ti ma t io n th er eo f b e gi v en t o N a t io n a l S e cu r i ti e s D ep o si ta r y L i m i t ed
(N S D L ) a nd C ent r a l De p o si t ar y S er vi c e s L i mi te d ( CD SL ) t o a c t th e r e o n . A p pl i c a b l e
p ro p o r ti o na t e a mo u n t fo r th e sa l e o f fr a ct io n a l e nt it l e m e n t s u p o n su ch sa l e b y th e
tr u st e e ( s), i f a n y sh a l l b e d i st r i b u t ed t o su ch sh a re h ol d e r s, su bj e ct t o d e d u ct i o n o f t a x a t
so u r c e, i f a n y .
In o r d e r to b e el i g i b le t o r ec e i ve a n y p ay m en ts in r e sp e ct o f a n y f r a ct io n a l en t i t l e m en t s
a r i si n g o ut o f th e p r o po s ed co n so l i da t i on , n o nr e sid en t sh a r eh o l d er s wi ll a l so n e ed t o
st
p ro vid e th e Co mp a n y o n o r b ef o r e 31 M ar ch , 2 0 17 , a co p y o f t h e o ri gin a l p e r mi s si o n
r e c ei v ed fr o m th e Re ser v e Ba nk of In d ia i n r el a t i o n t o t h e a cq u i si t io n , a nd :
a ) If th e no n -r e s id e n t sh a r eh ol d er s’ sh a r e s a r e h el d o n re pa t r ia t io n b a si s, th e n o n r e s id e n t sh a r eho l d er s ( ex clu d i n g S E B I r e gi st e r e d Fo r ei gn In sti tu t i on a l i n v e st o r s (F II ) )
mu st ob t a i n a l et t er fr om h i s/ h er A ut h o ri z e d De a l er /B a n k co n for m in g th a t a t th e
ti m e o f a cq u i sit i on o f su ch sh a r es , p a y m en t f or th e sa me wa s ma d e b y th e n o n r e s id e n t sh a r eh o l d er fr o m t h e a pp r o p ri a t e a cc o u n t ( eg . N RE a cc o u nt ) as sp e ci f ie d b y
Re s e r ve Ba n k o f I n di a in i t s a p p ro va l; or
b ) If th e n on - r es i d ent sh a r eh o ld er ( ex cl u d in g SE B I r e gi s t er ed FI I ) i s n o t i n a p o si ti o n t o
p ro d u ce t h e le tt er r e fe rr ed to in Pa r a ( a ) a bo v e, h i s/h er sh a re s (a nd th e
co r re sp o nd i n g f r a cti o na l ent i tl e m en t s wi l l b e d e e med t o h a ve b e en a c qu i r ed o n n o n r ep a tr i a t i o n b a si s a nd i n t h i s ca se, t h e no n -r e si d en t sh a r e h ol d e r mu st s ub m it a
co n sen t l ett e r a d d r e s sed t o t h e p e r so n n o mi n a t ed b y th e Boa rd to h o ld su ch
fra ct i o na l en t i t l e m en t ( t h e tr u st e e ), a l lo w i n g t h e t r u st e e( s ) t o m a k e t h e p a y m en t o n
a n o n -r ep a t r ia t io n b a s is in r e sp ec t o f su ch sh a r e s a cq u ir ed p u r su a n t t o th e
a cq u is it i on .
If a n y o f th e d o cu me n t s re f er re d t o i n P a ra (a ) or (b) a b o ve a r e no t p r o vi d ed t o t h e
st
tr u st e e ( s), o n or b e fo r e 3 1 Ma r ch , 2 0 1 7, a s st a t e d a b o ve, th e n th e t ru st ee ( s) sh a l l b e
en t it l e d t o w i th h o ld th e co n si d e r a t i o n fo r sh a re ho l d er s fr a c ti on a l en t i t l e m en t .
F ra ct i o na l e n t it lem en t s
A ny fr a ct i o n s a r i si n g fr o m su ch co n so l id a t io n wi ll b e a g g r e ga t e d in t o who l e sha re s a n d th e
n u mb er of wh o l e sha r e s so a ri si n g wi l l b e h el d b y Tr u st e e s, wh o w o u ld b e r e sp o n si bl e f o r
se l l i n g/ d i spo s i ng th em a n d d i st ri b u ti n g th e n e t sa l e pr o c e ed s a mo n g st t h e sh a r eh o ld er s i n
p ro p o r ti o n o f t h ei r f r a c t io n a l en ti tl e m en t s. Ca t a ly st Tr u st e e sh i p L i m i t e d (F o r m er l y k n o wn a s
G DA T T r u st ee s hi p L i m i t ed ), M u m ba i , a co m p a n y i n cor p o ra ted u n d er t he C o mp a n ie s A ct,
19 56 , h a s p r e se n tl y b e en a p p o in t ed a s Tru st e e fo r p u r p o se s o f co n so li d a ti o n o f sh a r e s o f
th e Co mp a n y a n d ma tt e r s i n ci d en t a l th e r e to .
On th e ba si s o f t h e va lu a t io n r ep o rt i ssu e d b y K M Tu l s ia n & A ss oc i a t e s, C ha r t e r e d
A c cou n t a nt s, i t i s pr o p o sed t o fi x th e v a lu e o f e a ch p r e -c o n so l id a t e d sh a r e a t R s. 26 (Ru p e e s
T w en t y Si x On l y ) (“ Sa l e Pr i c e” ) f o r th e p u r p o se o f p ay m en t o f co n si d e r a t io n t o sh a r eh o l d e r s
fo r t h ei r fr a ct i o n a l en t i tl e m en t s. T h e S a l e P ri ce s o fi x ed i s m or e t h a n t h e va lu e o f th e
Co mp a n y' s E q u it y s h a r e a s a rr i v ed a t b y K M Tu l si a n & A s so c i a t e s, Ch a rt er ed Ac cou n ta n t s, i n
th e i nt er e st s o f th e sh a r e h o ld e r s o f th e C om p a ny . It w o ul d b e th e r e sp o n sib i l i t y o f th e
Tr u st e e n o t to s e l l t h e sh a r es h e ld b y t h e m a t a p r i ce lo w er t h a n th e Sa le Pr i c e fo r p a y m en t
o f co n s id er a t io n t o sh a r eho l d er s.
Th e Bo a rd o f D ir e cto r s b el i e ve s th a t th e S a l e P r i c e i s in e xc e ss o f th e f a i r v al u e o f t h e sh a r e s
a n d wo u l d c on sti tu t e a fa i r e xi t o p po r tu n i ty fo r sh ar eh o l d er s en t it l ed t o fr a ct i o na l s ha r e s o f
th e Co mp a n y.
In ca se o f n o n - re si d en t sha r eh o l d e r s, th e p a ym en t o f co n s id er a t io n in li eu o f fr a ct io n a l
en t it l e m en t s w ou l d b e s u bj e ct t o th e p ro v is io n s o f Fo r e i gn E x ch a n g e M a n ag e m en t A c t, 1 9 9 9
a n d a n y a p p ro v a l s fr o m t h e R e s er ve B a n k o f In di a et c. a s m a y b e r equ i r ed . Th e T ru st ee wil l
ma k e r e qu i si t e p a y m en t o f co n si d e r a t i o n to sh a r eh ol d e r s in a cc or d a n ce w i t h a pp l i ca b le
l a w s, up o n sa l e o f t h e c o n so l i da t ed sh a r e s h el d b y i t .
A s p er th e pr o v i sio n s o f S ec ti o n 1 9 5( 1) o f t h e In co m e T a x A ct, 1 96 1 ( “ IT A ct ”), a ny p e r so n
r e sp o n si b le fo r p a y i n g to a no n -r e s id e n t a n y su m cha r g ea b l e t o ta x i s r eq u i r ed to d ed u ct
a p pl i ca b l e ta x a t sou r c e ( in c l ud i n g a p pl i ca b l e su r cha rg e a n d ed u ca t i o n c e ss). Si n c e, t h e
co n si d e r at i on p a y a b l e by th e T r u st e e fo r t h e sa l e o f th e f ra c t io n sha r e s o n c on sol i d at i o n,
wo u ld b e c h a r g ea b l e t o ca p i ta l g ai n s u nd e r S e ct io n 45 o f th e In c o m e Ta x A ct, 19 61 ,
th e re fo r e t h e T ru st ee w il l d ed u c t t a x a t so u r c e (in cl ud i n g c e ss a n d su r c ha r g e a s a p p li ca b l e )
a t th e a p p l i ca b l e ta x r a te o n t h e g ro s s co n si d e r a ti o n p a y a b l e t o N on - r e sid e nt sh a r eh o ld er s .
N o n- r e si d e nt s ha r eh o l d er e l i gi b l e t o a va i l tr e a t y b en e fi t sh a l l p ro d u c e t h e r e l e van t
th
d o cu m en t s o n o r b e fo r e 1 5 D a y o f O cto b e r 2 01 6. E l s e, th e T ru st e e wi l l d ed u ct t a x a s p er
a p pl i ca b l e p r o vi si o n s o f In co m e T a x A c t , 2 0 1 6 .
Th e Bo a rd r e co m m en d s r e so l u t i o n s u n d e r i t e m no . 1 to b e pa s se d a s a Sp e c ia l R e so l u ti o n .
N o ne o f th e D i r e cto r s, k ey m a n a g e r i a l p er so nn e l or t h ei r r e l a t i v e s a r e i n a n y wa y c o nc e r n ed
o r i nt er e st e d i n th e p a s si ng o f th i s r e s ol u ti o n , e x c ep t to th e ex ten t o f th e i r s ha r eh o l di n g i n
th e Co mp a n y, i f a n y .
It em N o . 2:
A s o n d a t e, th e a ut h o r iz ed sh a r e ca pi t al o f th e Co mp a n y i s R s . 2 5 , 0 0, 0 0, 0 00 / - (Ru p e e s
T w en t y F i v e C r o r e o n ly ) d i vi d ed i n t o 5 , 00 , 0 0 , 0 0 0 ( Fi v e C r o r e ) sha r e s o f no m in a l va lu e o f R s.
5/ - (Ru p e e s Fi v e on l y ) e a ch .
Th e Co mp a n y p r o po s e s to c o n so l i d a te th e i ss u ed , su b scr i b ed a nd p a i d -u p eq u i ty sh a r e s i n
th e sh a r e ca p it a l o f t h e Co m p a ny b y i n cr e a si n g th e n o m i n a l va l u e o f t he eq u i ty s h a r e s fr o m
R s. 5 /- (Ru p e e s F i ve o n l y) e ac h t o R s. 5 , 0 00 / - ( Ru p ee s Fi v e T h o u sa n d on l y) e a c h so th a t
e v er y 1 , 0 00 ( On e Th o u sa n d ) eq u it y sh a r e s w it h n o mi na l va lu e o f R s. 5 /- (Rup e e s F i ve o n ly )
ea ch h el d by a sh a r eh o l d e r s a r e co n so l id a t e d a n d r e - de si g n a t ed i n to 1 (on e ) eq ui t y s h ar e
wi th n o m i n a l va l u e of R s. 5 , 0 00 / - (Ru p e e s F i ve Th ou s a nd s o n ly ) ea ch o r an y o th e r no m in a l /
fa ce va l u e a s m a y b e a p p ro v ed b y N a t i o n a l Co mp a n y L a w T r ib u n a l (N CL T) o r a n y o t h e r
a p pr o p r ia t e a u th o r it y (i e s), i n t h e m a nn e r sp e ci fi e d i n r e s ol u ti o n u n d er I t e m N o. 1a b o ve,
r ea d w i th E xp la n a t or y S ta t em en t th e r et o h er eu n d er . T h i s w ou l d n e ce ssi t at e a m e nd m e n t o f
Cla u se V o f M e m or a n d u m o f A ss o c ia t io n o f t h e Co m p an y , w h i ch sp ec i fi e s th e au t h or i z ed
sh a r e ca p it a l o f th e Co mp a n y .
Th e a me nd m e n t o f th e Me m o r a n d um o f A ss o c i a t io n o f t h e C o mp a n y r e q u ir e s th e a p pr o v a l o f
th e sh a r eh o l d er s.
Th e Bo a rd r e co m m en d s r e so l u t i o n s u n d e r i t e m no .2 t o b e p a ssed a s a n Or d i n a r y R e so lu t i on .
N o ne o f th e D i r e cto r s, k ey m a n a g e r i a l p er so nn e l or t h ei r r e l a t i v e s a r e i n a n y wa y c o nc e r n ed
o r i nt er e st e d i n th e p a s si ng o f th i s r e s ol u ti o n , e x c ep t to th e ex ten t o f th e i r s ha r eh o l di n g i n
th e Co mp a n y, i f a n y .
By Order of the Board of Directors
Place: Mumbai
th
Date: 10 January, 2017
Sd/Rajul S. Jhaveri
Chairperson
(DIN: 00093998)
JHAVERI FLEXO INDIA LIMITED
Gut No. 74, Farola, Paithan Road, Aurangabad, Maharashtra - 431105
Website: www.jhaveriflexo.com, Email: [email protected]
CIN: U25209MH1985PLC035938
Phone: +91 22 2431-251663, Fax: +91 22 2431-251661
ATTENDANCE SLIP
Please complete this attendance slip and hand it over at the entrance of the venue.
Folio No. /Client ID No. __________________________________________________________________
No. of Shares held ______________________________________________________________________
Name & Address _______________________________________________________________________
_____________________________________________________________________________________
Jointly with ___________________________________________________________________________
Full name of the Proxy if attending meeting _________________________________________________
I hereby record my presence at the Extra Ordinary General Meeting of the Company at Gut No. 74, Farola, Paithan
th
Road, Aurangabad, Maharashtra - 431105 to be held on Monday, 13 February, 2017 at 10.00 a.m.
_________________________
Signature of Member/Joint
Member/Proxy attending the meeting
PLEASE CUT HERE AND BRING THE ABOVE ATTENDANCE SLIP TO THE MEETING HALL
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - Tear Here- - - - - - -- - - - - - - - - - - - - - - - - - - - - - - - - - - - -EVSN (Electronic Voting Sequence Number)
Default PAN
170119003
*Only Member who have not updated their PAN with Company / Depository Participant shall use default PAN in
the PAN field.
FORM NO. MGT-11
PROXY FORM
[Pursuant to section 105(6) of the Companies Act, 2013 and rule 19(3) of the Companies (Management and
Administration) Rules, 2014]
JHAVERI FLEXO INDIA LIMITED
Gut No. 74, Farola, Paithan Road, Aurangabad, Maharashtra - 431105
Website: www.jhaveriflexo.com, Email: [email protected]
CIN: U25209MH1985PLC035938
Phone: +91 22 2431-251663, Fax: +91 22 2431-251661
Name of the Member(s):
Registered Address:
E-mail ID:
Folio No. /*Client ID:
*DP ID:
I/We, being the member(s) of ______________ shares of LADDERUP FINANCE LIMITED, hereby appoint
_________ of _________________ having e-mail id _________ or failing him
_________ of _________________ having e-mail id _________ or failing him
_________ of _________________ having e-mail id _________ or failing him
as my / our proxy to attend and vote (on a poll) for me/us and on my / our behalf at the Extra Ordinary General
th
Meeting of the company, to be held on Monday, the 13 day of February, 2017 at 10:00 a.m. at Gut No. 74, Farola,
Paithan Road, Aurangabad, Maharashtra - 431105 and at any adjournment thereof in respect of such resolutions
as are indicated below:
** I wish my proxy to vote in the manner as indicated in the box below (optional):
No.
1.
2.
RESOLUTIONS
Reclassification of Share capital of the Company by Consolidating face
value of shares from Rs. 5 to Rs. 5,000 each
Alteration of Share capital Clause of Memorandum of Association
FOR
AGAINST
A ffi x a
Re. 1/Reve nu e
S ta mp
Signed this_________day of ___________, 2017
____ _______ ______ _____
Signature of Shareholder
________________________ ___________________________ _______________________
Signature of first Proxy holder Signature of Second Proxy holder Signature of third Proxy holder
Note:
1. This form of proxy in order to be effective should be duly completed and deposited at the Registered Office of
the Company, not less than 48 hours before the commencement of the Meeting.
2. **This is only optional. Please put a ‘X’ in the appropriate column against the resolutions indicated in the Box. If
you leave the ‘For’ or ‘Against’ column blank against any or all the resolutions, your Proxy will be entitled to
vote in the manner as he/she thinks appropriate.
3. Appointing a proxy does not prevent a member from attending the meeting in person if he so wishes.
4. In the case of joint holders, the signature of any one holder will be sufficient, but names of all the joint holders
should be stated.