General Announcement::Approval of Unaudited Financial Results, declaration of Interim Dividend & outcome of Board Meeting

Issuer & Securities

Issuer/ Manager
INDIABULLS HOUSING FINANCE LIMITED
Securities
INDIAB HF INR13.3B8.567%191015 - XS1487891852 - 4T4B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
24-Jul-2017 18:28:51
Status
New
Announcement Sub Title
Approval of Unaudited Financial Results, declaration of Interim Dividend & outcome of Board Meeting
Announcement Reference
SG170724OTHRX7WO
Submitted By (Co./ Ind. Name)
Indiabulls Housing Finance Limited
Designation
Mr. Amit Jain, Company Secretary
Description (Please provide a detailed description of the event in the box below)
Pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations), we enclose hereto, for your information and record, the Unaudited Standalone and Consolidated Financial Results of Indiabulls Housing Finance Limited (the Company) for the quarter ended June 30, 2017, duly approved by the Board of Directors of the Company at its meeting held today i.e. July 24, 2017, which was commenced at 2:15 P.M. and concluded at 3:30 P.M.

We also submit herewith Limited Review Reports dated July 24, 2017, issued by the Statutory Auditors of the Company, on the Standalone and Consolidated Financial Results of the Company respectively for the said period, which were duly placed before the Board at the aforesaid meeting

Further, pursuant to the applicable provisions of the Listing Regulations, we wish to inform you that the Board of Directors of the Company at its aforesaid meeting has declared an Interim Dividend of INR 9/- per equity share (on the face value of INR 2 per share) for the financial year 2017-2018, and that the record date for the purpose of determining the names of members eligible for receipt of the interim dividend will be Thursday, August 3, 2017. The dividend will be paid on or before Tuesday, August 22, 2017.

Further, the Board of Directors of the Company in the aforesaid meeting has also authorised the Company to issue Secured Non-Convertible Debentures and Unsecured Non-Convertible Debentures, in the nature of Subordinate Debt, upto INR 25,000 Crore and INR 3,000 Crores respectively, on private placement basis, in one or more tranches, from time to time.

In accordance with the provisions of Section 139 of the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014, M/s Deloitte Haskins & Sells LLP are not eligible for re-appointment as the statutory auditors of the Company. Accordingly, the Board on the proposal of the Audit Committee has recommended the appointment of M/s S.R. Batliboi & Co. LLP, Chartered Accountants (Firm Registration No.: 301003E/E300005) (an Indian firm of Ernst & Young), as the Statutory Auditors of the Company for a period of 5 (five) years from the conclusion of the ensuing AGM, subject to approval of the Members of the Company at the ensuing AGM. Brief profile of M/s S.R. Batliboi & Co. LLP, Chartered Accountants is enclosed herewith.

Further, in compliance with the provisions of SEBI circular bearing no. CIR/IMD/DF-1/67/2017 dated June 30, 2017, the Board has also recommended to amend the Articles of Association of the Company, subject to approval of its Members at the ensuing AGM, to capture enabling provisions in its Articles of Association, to carry out any consolidation and re-issuance of debt securities, pursuant to and in terms of the provisions of Regulation 20A of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008, as may be amended, from time to time.

Attachments

IHFL_UAR_outcome_of_BM_24072017.PDF
Total size =6612K