General Announcement::Outcome of Board Meeting

Issuer & Securities

Issuer/ Manager
INDIABULLS HOUSING FINANCE LIMITED
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
03-Jul-2020 23:01:24
Status
New
Announcement Sub Title
Outcome of Board Meeting
Announcement Reference
SG200703OTHR33DI
Submitted By (Co./ Ind. Name)
Mr. Amit Jain
Designation
Company Secretart
Description (Please provide a detailed description of the event in the box below)
Pursuant to and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Listing Regulations ), we enclose hereto, for your information and record, the Audited Standalone and Consolidated Financial Results of Indiabulls Housing Finance Limited (the Company ) for the quarter and financial year ended March 31, 2020, duly approved by the Board of Directors of the Company (the Board ) at its meeting held today i.e. July 3, 2020 (which was commenced at 3:30 P.M. and concluded at 7:45 P.M.), along with requisite information.

We also submit herewith Audit Reports dated July 3, 2020, issued by the Statutory Auditors of the Company, on the standalone and consolidated financial results, respectively, of the Company, as at and for the financial year ended March 31, 2020, which was duly placed before the Board at the aforesaid meeting.

Raising of capital / funds

Pursuant to Regulation 30 of the Listing Regulations, the Board at their aforesaid meeting has, subject to the approval of the shareholders and/or any other regulatory or statutory authorities, under applicable laws and regulations, approved:

(a) issuance of unsecured and/or secured, listed and/or unlisted, redeemable non-convertible debentures, with or without warrants, or any other similar security denominated in INR, or combination thereof, in one or more tranches for an aggregate amount up to INR 5,000 crores (equivalent currency) on private placement basis or otherwise;

(b) to augment the long term resources of the Company, raising of funds for rupee equivalent of up to USD 300 million, through one or more Qualified Institutions Placement in terms of Chapter VI of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (the ICDR Regulations ) and/or any other permissible mode(s), in accordance with the ICDR Regulations, the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008, each as amended and as applicable, and/or any other public and/or private offerings of equity shares, compulsorily convertible debentures, unsecured and/or secured, listed and/or unlisted Foreign Currency Convertible Bonds (FCCBs) or other similar security denominated in foreign currency(ies) or other convertible securities, warrants, ADRs, GDRs, or a combination thereof.



Appointment of Independent Director

The Board on the recommendation of the Nomination and Remuneration Committee of Directors, approved the appointment of Mr. Achutan Siddharth (DIN: 00016278) as an Independent Director (Additional Director), on the Board of Directors of the Company, for a period of three years, with effect from today i.e. July 3, 2020, subject to the approval of the Members of the Company.

Mr. Siddharth, 67 years of age, is a Fellow member of The Institute of Chartered Accountants of India and Associate member of The Institute of Company Secretaries of India. Mr. Siddharth was associated with Deloitte Haskins & Sells for over 4 decades and served as Partner for 33 years. He has vast and varied experience in the field of Audit of domestic as well as multinational companies. Presently, Mr. Siddharth is on the Board of Reliance Industrial Infrastructure Limited (Mukesh Ambani Group Company). He does not hold any shares in Indiabulls Housing Finance Limited and is not related to any other director or key managerial personnel of the Company. Mr. Siddharth is not debarred from holding the office of director by virtue of any order passed by SEBI or any other such authority.

Attachments