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Ashok Leyland Ltd. Proxy Solicitation & Information Statement 2021

Dec 23, 2021

60668_rns_2021-12-23_21c6a632-9637-437d-935b-ca348ca2b72e.pdf

Proxy Solicitation & Information Statement

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==> picture [260 x 47] intentionally omitted <==

December 23, 2021

National Stock Exchange of India Ltd. BSE Limited Exchange Plaza Phiroze Jeejeebhoy Towers C-1, Block G, Bandra Kurla Complex Dalal Street Bandra (E), Mumbai - 400 051 Mumbai - 400 001 Scrip Code: ASHOKLEY Stock Symbol: 500477

Through: NEAPS

Through: BSE Listing Centre

Dear Sir/Madam,

Sub: Intimation under Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Newspaper Advertisement for despatch of Notice of Postal Ballot

Pursuant to Regulation 47 of the SEBI Listing Regulations, please find enclosed the copies of newspaper advertisements published in Business Standard – Chennai Edition (in English) and Dinamani - Chennai edition (in Tamil) on December 23, 2021 with respect to completion of despatch of Notice of Postal Ballot to the Members.

The advertisements are also made available on the website of the Company: www.ashokleyland.com

The above is for your information, records and reference please.

Thanking You,

Yours faithfully,

for ASHOK LEYLAND LIMITED

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N Ramanathan Company Secretary

Encl :a/a

==> picture [596 x 96] intentionally omitted <==

TAKE TWO 7

CHENNAI | THURSDAY, 23 DECEMBER 2021

~~>~~

SUVEEN SINHA NewDelhi,22December ast week, the Supreme The trust issue Court appointed two Lretired judges as mediatorsbetweenLalitModiandhis mother,Bina.Lalit,sonofindustrialistKKModi,isbetterknown as the man behind the with trusts IndianPremierLeagueofcricket.Heandhismotherhavebeen Canbusinessfamilytrustsensuresmoothsuccession? atloggerheadssinceModiSenior’s death in November 2019. TheanswerlieswithLeoTolstoy Itisamessyaffair.Binaand her other two children, Charu and Samir, are on one side and Lalitontheother.Lalithadstarted arbitration proceedings in Singapore. Bina filed a lawsuit in India to stop the arbitration. The route to mediation came throughtheusualcourseofhigh courts, single judges, and divisionbenches. Youcouldlookatitasyetanothersuccessionbattle.Theworldisfulloffamilybusinessesthat witheredawaywiththepassing of generations, creating much Lalit Modi believed the bitterness and ill will. Entire family had reached a clansthatusedtobehousehold point, after his father’s nameshavebecomepaleshad- death, where the trust’s ows of their once-mighty emp- assets should be sold ires.KKModi’sgroupitselfemergedfromalongsagaoffamily settlementintheModiclan. arate houses. That happens Except that at the heart of with any family, except that in the dispute between Lalit and a business family there is a lot Bina is a trust deed. This trust, more at stake. The trust route accordingtosubmissionsinthe of succession has merit. It cancase, was executed in 2014 by notholdthefamilytogether,but ModiSeniorasthesettlorormaitcankeepthefamily’sholding nagingtrustee.Bina,Lalit,Chatogether in a way that provides ( Top ) The Ratan Tata and Cyrus Mistry saga played out ru,andSamirwerethetrustees. moreflexibilitythanawill. against the backdrop of the Tata Trusts, which have Thisshouldbeacautionarytale Trustsdoawaywiththeneed near-total control over the group’s holding company, at a time business families are to transfer legal ownership as Tata Sons; ( bottom ) Gautam and Vijaypat Singhania gravitating towards trusts to controlpassesfromonegeneraavoidsuccessionbattles. tiontoanotherandprotectaga- Mortalityalert: entoftheseistheShriramGro-Themostrecinst hostile takeovers becauseno single member of the family The30/13/3‘myth’ up,thefinancialservicesmajor, canselltheirholding.However, InAprilthisyear,WayneRiverspostedavideotoexpresshis which announced a board of are trusts truly the panacea for bafflement athowoftentheruleof30/13/3isattributedtotheFamanagement to run the Shriallsuccessiontroubles? milyBusinessInstitute,ofwhichRiversistheco-founderandpreramOwnershipTrust.Thepro- Eachunhappyfamily…: Sucsident.Accordingtothisrule,nomorethan30percentoffamilymotergroup’sshareholdinghas cessionbattlesinbusinessfamownedorclosely-heldbusinessessurviveintothesecondgenerabeentransferredtothetrustand iliescomeinawidearrayofdistion,13percentintothethird,andjust3percentintothefourth. noneofitiswithanyindividual agreements,especiallyinIndia, Riversdistancedtheinstitutefrom30/13/3,sayingitwasanold orfamily.DaysbeforeShriram’s where family dynamics are statisticthatinfactcamefromJohnWardandwasbasedona announcement, Bloomberg repmorecomplexthaninthewestsmallgroupofmanufacturingcompaniesinIllinoisfrom1987. ortedthatMukeshAmbani,the ernworld.ThereistheusualbrThisdilutesastatisticthatwasattimestakentobegospel,but 64-year-oldheadoftheReliance other versus brother and there itdoesnotdilutetherealitythattheworldisfulloffamily group of companies, has preareinter-generationfeuds(fatbusinessesthatwitheredawaywiththepassingofgenerations, paredablueprintforsuccession. her versus son, mother versus creatingmuchbitternessandillwill. Ambani,whobravedabitter son). There are disputes becabattle with his brother Anil in use the women in the family hiswifeandsontogether. Raymond disagreed over not the aftermath of their father’s feelmarginalised.Andthereare Lalitbelievedthefamilyhad only the control of their textiles death,isconsideringmovinghis theoddities,suchasachartered reachedapoint,afterhisfather’s businessbutalsoflatsworthcrfamily’s shareholding into “a accountant versus his client’s death, where the trust’s assets ores in Mumbai. The Murutrust-likestructure”,says Bloom- family.Inoneofthemorehighshould be sold because there gappa family was perceived to berg .Apparently,Ambani’smoprofilecases,aretiredpatriarch was no unanimity among the have managed its transition deltakesitsinspirationfromthe managedtoousthisownhandfour trustees about the path well, until Valli Arunachalam, Walton family, which controls picked successor. ahead.Binahadotherideas.She the elder daughter of the late about half of Walmart Inc throThelastmentionedsagaplachosetotakeupanactivemanpatriarch, M V Murugappa, terughtheWaltonFamilyHoldings yedoutagainstthebackdropof agement role and became the med the restructuring unfortuTrustandtheirchiefinvestment the Tata Trusts, which have president and managing direcnate, saying it marginalised the vehicle,WaltonEnterprises. near-total control over the grotorofGodfreyPhillipsIndiaLtd, daughters and mentored only One theory going around is up’s holding company, Tata thegroupflagshipknownforits thesonsforleadershiproles. thatmanymoreheadsofbusinSons. Ratan Tata chose Cyrus popularcigarettebrandssuchas In 2004, when the former essfamiliesareconsciouslythinMistrytosucceedhimaschairFourSquareandRedandWhite. chairman of Birla Corporation, king of succession because the man 2011 after a global search. Indeed, business families Priyamvada Birla, died, a will Covid-19 pandemic has made Things turned sour when Mishavebickeredovereveryimagemerged. Dated 1999, it bequthem aware of their mortality. try tried to reduce the group’s inable reason. The most eathed her ~5,000 crore assets Maybe mortality is something debt by actions that were seen common,ofcourse,iswhogets toco-chairmanandwell-known humans need to be reminded tobeanundoingofTata’slegahowmuchofthefamilyjewels. charteredaccountantRajendra of, but business families need cy.Tata,alreadyintoretirement But it can also be a disagreeSingh Lodha. The rest, as they noreminderoftheirvulnerabilbutincontrolofthetrusts,gave ment over strategy, which was say,isalongcourtbattle. ity to a change of generations. Mistry the option to resign. theissueintheBajajAutofamTo distort Leo Tolstoy’s As business families grow Mistry,whosefamilyheld18per ily. More specifically, it was opening line from Anna largerwiththeadditionofsons cent in Tata Sons, refused. The whether to continue making Karenina , each unhappy busiand daughters and sons-in-law trusts could not prevent the scooters, the product that had ness family is unhappy in its anddaughters-in-law,theydrift public spat that ensued, just as built the empire. ownway.Mutualtrustwillhelp away and live in their own sepKKModi’strustcouldnotkeep TheSinghaniafamilybehind them,trustsmayormaynot.

BlueCirclelogsinfor C-suitenetworking

addresses a real networking problem that most leaders like me face — being bom- BlueCirclelogsinfor barded with irrelevant connections, and gettingspammedwithanoverloadofplatitudinous content. Blue Circle’s problemsolving construct crafts a solution, strate- C-suitenetworking gically,elegantlyandrelentlessly.” SHIVANI SHINDE nd,BlueCirclesawmorethan3,000-5,000 Thecompanyhasraisedaseedfunding Mumbai,22December sign-ups before its launch. It now has over roundanditisplanningtoraiseapre-series 8,000 members and expects to touch the Aroundinthenextfewmonths. A sector-specific professional networking 10,000 figure by the end of this financial platformforseniorleadership.Thisisagap year.BlueCircleboastsnameslikeNaveen Businessandrevenuemodel thathasexisted,despiteapopularprofessiMunjal (MD, Hero Electric), Gautam KhaThemobileappissimpletouseandisdividonal networking platform like LinkedIn. nna(CEO,HindujaHospital),RakeshMaled by sectors, so the discussions are B2BAndthisisthegapBlueCircletappedinto. hotra (Founder, Livguard/ led.TheplatformalsocurRealisingtheneedandopportunity,SidSAR Group), Ram Gopal ates its own discussion dharthAnandandGoutamAnandlaunch(CEO, Barclays), and sessions with members of edBlueCircle’smobileappthisyear.Ithas Arvind Mehra (ED & CEO, particularsectors.Besides, seenitsmembershipsoarto8,000leaders. MahindraAerospace). there are webinars and Blue Circle app offers focused content, AccordingtoSiddharth offline conferences. The communities and conversations across 20 Anand, Blue Circle is the app has seen users spendindustries, and brings together decisionfirstsector-focusedprofesing almost 12 minutes a makerstoexchangeopportunitiesconcernsional network and memday, compared with Linkingspecificsectors. bershipsarestrictlybyinviedIn’s about 17 minutes. Blue Circle started out in 2017 as an tation only. In its first “We’regrowingmonth-onexclusiveofflinenetworkforseniorleaders version, the platform only month, too,” says Anand. across industries. Siddharth and Goutam focuses on an individual’s At present 95 per cent Anandhostedoverahundredphysicaland designation.Theentry-levWE’RENOTFOCUSING ofthesubscriberbase,convirtualeventsandenabledseveralconnecel designation required on tent creation and convertions,andlearnt.TheneedtolaunchadigitBlueCircleisDGM. ONCOMPANYSIZEOR sations are India-focused, alplatformfortopleaderswasbasedonthe “This platform is built REVENUE,ANDWE while the rest come from feedback he and his team received when for leaders and it is gated, theUS,UKandUAE. theyconductedofflineevents,saysSiddhhenceentryisonlybyinviHAVEAGOODMIXOF Anandisconfidentthat arth Anand. “Over the years, while leaders tation. We’re not focusing LEADERSCOMINGIN the app will have 100,000 benefitedfromourengagements,byconneon company size or revleaders with membership ctingwiththerightpeopleandexchanging enue, and we have a good SIDDHARTH ANAND, over the next year. On revquality dialogue, they often told us that mix of leaders coming in. Founder,BlueCircle enue generation, he says theywantedtohavethesediscussionsand We also have policy makthe company has several contact leaders on a more frequent basis.” ers, and education leaders avenues such as sponsorThe 20 communities on the app are e- who have joined Blue ships with companies, mobility,energy,healthcare,logistics,real Circle,”addsAnand. webinar and conferences, estate, aerospace and defence, agriculture Thisfirmhasalsomanand membership fee. For and food processing, auto components, aged to attract investors who believe that the offline version that Blue Circle began BFSI(banking,financialservicesandinsursuchaplatformisneededforseniorleaders. with, entry fees went from as high as ~1.5 ance),chemicals,education,hospitalityand RaghavanGovindan,anIndianInstituteof lakhperyearto~10,000.However,thecomtourism,IT,infrastructure,metalsandminManagement Ahmedabad alumnus, pany is yet to start charging members for ing,mediaandadvertising,retailandconfoundingpartnerofmanagementconsultthe app. “In future, we will look at several sumer goods, talent search and developingfirmNxtPracticeGrowthPartners,and models like premium and freemium. For ment,andtelecomandtextile. an independent director on the board of now, our focus is on adding members and AmrutanjanHealthcare,isaninvestorand giving them a platform that caters to their Memberships director. He says: “My investment in Blue requirements. We plan to come up with a Thanks to its focused approach, says AnaCircle fully validates my conviction that it marketplacemechanism,too,”headds.

‘InIndiayoudon’thavecasual payer,youhavecasualplayer’

OnlinegamingcompanyGames24x7,whichbeganoperationsin2006,isatits personalisationisallabout. heartatechnologyfirm,saysCEOandco-founder BhavinPandya .Inaninterview, hetells RitwikSharma thattheirconstantfocushasbeentounderstandplayerson Sincedataplaysapivotalrole, itsplatformswiththehelpofdatascienceandhyper-personalisation.Excerpts: whatkindoftoolsdoyou usetopresenttheright WhatareGames24x7’sexpans- havethecasualpayer,you optionstoplayers? ionplansinIndiaandabroad? havethecasualplayer.Andnot Firstandforemost,totryand InIndia,peoplewanttoplayif asmanyofthat. understandmyplayersIhave theycangetsomethingin Ifyouwantarealcastoconstantlytrackdatain returnforit,ifthereisareal ualplayer,youhavetogo realtime,onceausergives senseofcompetition.Casual West,gototheUSwhere permission.We’vebuilt playingisnotabigthingyet. themarketisalotmore someofthetracking Thatisbecauseofthe mature,andcatertothe softwareonourown, nascencyofthemarketand middle-agedwomenaudisomearethird-party. ourculture.Ifyoulookatthe encethatisdoingreallywell Trackingplayers West,wherecasualgamingis intermsofmonetisation. givesyoualotofraw doingverywell,ithasevolved Thatiswherewearefocused. datathatyouhaveto afteryearsofpeoplebeing figureouthowto exposedtoit.Oneofthe Doesthedoublingof structure.Thisis biggestrealisationsisthatif investmentsthisyearreflect whereatleastatourend youareofferingyourproducts industrygrowth?Andisthere weusesomeoftheservices inIndia,theyhavetobegames thenabiggerneedtofocuson legitimateformof thatAWS(AmazonWeb ofskillwherepeoplecanplay hyper-personalisation? entertainmentforthem.In Services)provides.Our formoneyandwinmoney. There’sverylittlecorrelation fact,insomecases,wehave businessintelligenceteam Internationally,casualgaming betweenincreasein seenthatyouarespendinga alsohasbuiltsolutionswhere hasaverybright investmentand lotmoremoneytoacquire theyareconstantlytryingto future.Soweare howwellthe theseplayersandnotbreaking organisedatabasedonthe workingonbothof Indiangaming evenafter10-12months.Why kindofuseitwillhave. theseaspects. industryisdoing. isthathappening?Oneis,let’s Onceyou’vestructuredthe Rummydid Itwasdoingwell say,theyarelower-quality data,firstyouhavetoaskthe wellforus,and evenpre-March players.Theycome,checkout hypotheticalquestion,“What alsofantasygames BHAVIN PANDYA 2020.Whatthe yourplatformandsay,“thisis amItryingtolookatinthe (My11Circle).But CEO and co-founder, pandemicdidwas notforme”andmoveaway. data?”Thatcomesfromthe apartfromthese Games24x7 bringgaminginto Theotherbigreasonisthat productandbusinessteamsto two,andmaybealittlebitof thelimelight,becausealotof whenyouacquirebythe formbehaviouralviewson poker,thereisnorealmonetpeoplecouldn’tgooutandsaw masses,youuseoneformula. players.Thenyoubuild isationinIndia.Wearetrying itasalegitimatepastime. Youdon’tappealtoaplayer models,andfigureoutthe todesignnewergamesofskill Whatyouarealsoseeingis understandingwhatheor differenttypesofplayers.We wherepeoplecanactuallyfeel thatalotofpeopleareleaving sheisallabout. trytobuilddifferentcohortsor engaged.Wearedoingthat veryquicklyorarenot IcandothatonlyifIam groupsofplayersthatare throughourbrandPlayCircle, monetisingverywell.These abletoidentifyplayersbeforeI similarintheiractivitybutwe whichwaslaunchedthisyear. areplayerswhowereexposed acquirethem.That’swherea willnotbindthemtoacertain Onthecasualgamingside, togamingbeforethe lotofourworkgoesinto.It’s characteristicbecausethen we’vebuiltthisstudiooutof pandemicbuthadother likeabigcomplexpuzzle,and youarerestrictingyourself. ourBengaluruofficebutwe’ve thingstodoandwerefencethat’swhatdatasciencehelps noticedthatinIndiayoudon’t sitters.Gamingisnota tosolve.That’swhathyper- Moreon business-standard.com

(Regd. Office: PSEB Head Office. The Mall, Patiala-147001) Corporate Identity Number U40109PB2010SGC033813 Website: www.pspcl.in (Contact No. 96461-18774) Tender Enquiry. No. MQP-192/2021-22/PR Dated: 21.12.2021 CE/Metering, PSPCL, C-3 Shakti Vihar, PSPCL, Patiala invites E- tender for procurement of 2550 no. -/5Amp, 11KV/110V & 50 no. -/1Amp, -/110V DLMS Compliants AC, 3 Phase, 4 wire CT/PT operated fully Static andAMR compatible HT & EHT Tri vector Consumer Energy meters (CATEGORY C-1) of accuracy class 0.2S and Empanelment of technicaally eligible firms for private sale of above material. For detailed NIT & tender specitications please refer to https://eproc .punjab.gov in form 22.12.2021 from 11:30 AM onwards. Note:- Corrigendum & addendum, if any will be published online at https://eproc.punjab.gov.in CE/Metering, C-449/21 76155/12/590/2021/11577 PSPCL, C-3 Shakti Vihar, Patiala

BusinessStandard

CHENNAI EDITION

Printed and Published by S Jayaraam on behalf of Business Standard Private Limited and printed at MNS Printers Private ltd,76/1,Noombal Village , Poonamallee High Road, Velappanchavadi, Chennai-600 077 and published at Business Standard Private Limited, C/O. Regus Citi Centre, Level 6,10/11, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600 004 Editor : Shailesh Dobhal RNI No:70127/1998 Readers should write to the editor at [email protected] Ph:044-24322608,Fax:+91-44-24320094 For Subscription and Circulation enquiries please contact: Ms. Mansi Singh Head-Customer Relations Business Standard Private Limited. H/4 & I/3, Building H,Paragon Centre, Opp. Birla Centurion, P.B.Marg, Worli, Mumbai - 400013 E-mail: [email protected] “or sms, REACHBS TO 57575 DISCLAIMER News reports and feature articles in Business Standard seek to present an unbiased picture of developments in the markets, the corporate world and the government. Actual developments can turn out to be different owing to circumstances beyond Business Standard’s control and knowledge. Business Standard does not take any responsibility for investment or business decisions taken by readers on the basis of reports and articles published in the newspaper. Readers are expected to form their own judgement. Business Standard does not associate itself with or stand by the contents of any of the advertisements accepted in good faith and published by it. Any claim related to the advertisements should be directed to the advertisers concerned. Unless explicitly stated otherwise, all rights reserved by M/s Business Standard Pvt. Ltd. Any printing, publication, reproduction, transmission or redissemination of the contents, in any form or by any means, is prohibited without the prior written consent of M/s Business Standard Pvt. Ltd. Any such prohibited and unauthorised act by any person/legal entity shall invite civil and criminal liabilities. No Air Surcharge

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