Kernex Microsystems (India) Ltd. — Proxy Solicitation & Information Statement 2019

Apr 27, 2019

KERNEX MICROSYSTEMS (INDIA) LIMITED

CIN: L30007TG1991PLC013211 Regd Off: Plot No. 38 (part) to 4, Survey No. 1/1, Kancha Imarat, Raviryal village, Maheswaram Mandal, Hyderabad – 501 510 Email: acs@kernex.in, website: www.kernex.in

POSTAL BALLOT NOTICE

(Pursuant to Section 110 of the Companies Act, 2013 read with the Companies (Management and Administration) Rules, 2014)

Dear Member(s),

Notice is hereby given that pursuant to the provisions of Section 110 and other applicable provisions, if any, of the Companies Act, 2013 (the "Act"), read together with Rule 22 of the Companies (Management and Administration) Rules, 2014, including any statutory modification or re-enactment thereof for the time being in force, the Resolution appended below is proposed to be passed as a special resolution by way of postal ballot / electronic voting. The Explanatory Statement, pursuant to Section 102 of the Act, pertaining to the said Resolution, setting out the material facts concerning the item and the reasons thereof is annexed hereto along with a Postal Ballot Form (the "Form") for your consideration.

According to Section 180(1)(a) of the Companies Act, 2013, any sale, lease or otherwise disposal of the whole or substantially the whole of an undertaking of the Company or where the Company owns more than one undertaking, of the whole or substantially the whole of any such undertaking, requires the approval of the shareholders by way of a special resolution.

The Company proposes to sell / dispose-off its immovable property whose details are detailed below on"as is where is" basis.

Name of the Village	No. of Acres of Land
Amangal Village	Acre 205.087Guntas
Cherkur Village	Acre 10.60 Guntas
Polepalli Village	Acre 25.00 Guntas

The Company is therefore seeking your consent for the said proposal as contained in the Special Resolution appended below. An Explanatory Statement pertaining to the Resolution setting out all material facts and the reasons for which such Resolution is proposed is also annexed.

As per Section 110 of the Companies Act, 2013, read with the Companies (Management and Administration) Rules, 2014 ("Rules"), the consent of the Company's shareholders for the above purpose is required to be obtained by means of a postal ballot. Accordingly, the said Special Resolution and the Explanatory Statement is being sent to you along with the Form for your kind consideration. Further, as per Section 108 of the Companies Act, 2013, read with the Companies (Management and Administration)Rules, 2014 and the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015 the Company is required to provide to its members facility to exercise their right to vote by electronic means. Accordingly, instructions for e-voting have been provided hereunder.

Rule 22 of the Companies (Management and Administration) Rules, 2014, specify that any consent or otherwise received after thirty days from the date of dispatch of this notice shall be treated as if the reply from the member has not been received. Further the time frame of counting thirty days shall start from the date of dispatch of this notice. It is advisable to mail your

Form at the Company's Registered Office latest by 28.05.2019. You are requested to carefully read the instructions printed on the accompanying form, record your assent (for) or dissent (against) therein and return the same in original duly completed in the attached self-addressed, pre-paid postage envelope (if posted in India) so as to reach the Scrutinizer not later than 5:00 p.m. on 28.05.2019 to be eligible for being considered, failing which, it will be considered that no reply has been received from the Member.

The Board of Directors has appointed Mr. D.S. Rao (C.P.No.14487) of M/s. P.S.Rao & Associates, Practicing Company Secretaries as the Scrutinizer for conducting the Postal Ballot / Electronic Voting process in a fair and transparent manner.

Members desiring to opt for e-voting as per facilities arranged by the Company are requested to read the instructions in the notes to the Postal Ballot Notice.

Upon completion of the e–voting process and the scrutiny of Forms, the Scrutinizer will submit his report to the Chairman / Whole-time Director / CEO who will sign/ authenticate the same and announce the result of the Postal Ballot on or before 30.05.2019. The said results would be displayed at the Registered Office of the Company, intimated to the Stock Exchanges where the Company's shares are listed and Registrar & Share Transfer Agent and displayed along with the Scrutinizer's report on the Company's websiteviz. www.kernex.in and also on the website of the agency providing e-voting facility i.e. M/s. Karvy Fintech Pvt. Ltd ('Karvy'). The date of declaration of the result of the postal ballot shall be the date on which the appended resolution would be deemed to have been passed, if approved by requisite majority. The Members are requested to consider and, if thought fit, pass the following resolution as a Special Resolution.

The Resolution will be deemed to have been passed on the date of declaration of the results of the postal ballot, if approved by the requisite majority.

ITEM NO. 1

TO SELL/ DISPOSE OFF THE IMMOVABLE PROPERTY IN THE NAME OF COMPANY PURSUANT TO SECTION 180(1)(a) OF THE COMPANIES ACT, 2013.

To consider and if thought fit, to pass with or without modification, the following resolution as a Special Resolution:

"RESOLVED THAT pursuant to the provisions of Section 180(1)(a) and Section 110 of the Companies Act, 2013 read with the Companies (Management and Administration) Rules, 2014, and other applicable provisions, if any, of the Companies Act, 2013, (including any statutory modification or re-enactment thereof for the time being in force), the provisions of the Memorandum and Articles of Association of the Company, the provisions of the listing agreement entered into by the Company with the Stock Exchanges where the shares of the Company are listed, and such other approvals, consents and permissions being obtained from the appropriate authorities to the extent applicable and necessary, the consent of the members be and is hereby accorded to Board of directors to sell / transfer / disposeoff its immovable property located at Amangal, Polepally & Cherukur Villages, Ranga Reddy & Nagar Kurnool Districts, Telangana on "as is where is" basis or in any other manner as the Board may deem fit in the interest of the Company and on such terms and conditions as may be deem fit by the Board.

RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorised and empowered to finalise and execute necessary documents including but not limited to definitive Agreements, deeds of assignment / conveyance and other ancillary documents, with effect from such date and in such manner as is decided by the Board and to do all such other acts, deeds, matters and things as they may deem necessary and/or expedient to give effect to the above Resolution including without limitation, to settle any questions, difficulties or doubts that may arise in regard to sale and transfer of the Undertaking as they may in their absolute discretion deem fit**."**

By Order of the Board For Kernex Microsystems (India) Limited

Place: Hyderabad Date: 16.04.2019

Sd/- M B Narayana Raju Whole - Time Director DIN: 07993925

Notes:

• 1. The explanatory statement pursuant to Section 102 of the Act stating all material facts and the reasons for the proposed resolution is annexed herewith.

• 2. Voting period for Postal Ballot shall commence from 29.04.2019 at 09:00 A.M. and shall end on 28.05.2019 at 05:00 P.M.

• 3. The Board of Directors of the Company has appointed Mr. D.S. Rao (CP.No. 14487, M.No. 12394) of M/s. P.S. Rao & Associates, Practising Company Secretaries, Hyderabad,as the "Scrutinizer" to conduct the Postal Ballot & E-voting process in a fair and transparent manner.

• 4. The Postal Ballot Form together with the self-addressed postage pre-paid envelope is enclosed for the use of the members. Please read carefully the instructions printed on the enclosed Postal Ballot Form before exercising your vote and return the Form duly completed, signifying your assent or dissent, in the attached self-addressed, postage prepaid envelope, so as to reach the Scrutinizer within a period of 30 days from the date of dispatch of notice i.e. before the close of working hours (5.00 p.m.) on Tuesday,the 28.05.2019.

• 5. The Notice is being sent through the Courier to those members who have not registered their Email IDs with the Company and the Depository Participants, and is also being sent electronically by e-mail to those members who have registered their e-mail IDs with their Depository Participants and with the Company, whose names appear in the Register of Members / Record of Depositories as on 19.04.2019.

• 6. The Company is pleased to offer e-voting facility as an alternate, for all its members to enable them to cast their vote electronically instead of dispatching Postal Ballot Forms. In case a member desires to exercise his vote by using e-voting facility then he has to carefully follow the instructions as given for E-voting printed on the backside of the Postal Ballot Form.

• 7. Members irrespective of who have registered their e-mails for receipt of documents in electronic mode under the green initiative and who wish to vote through Postal Ballot Form can seek duplicate Form from Registered Office of the Company and send the same by post to the Registered Office of the Company addressed to the Scrutinizer.

• 8. Members are informed that in case of joint holders the Notice will be sent only to such joint holder whose name stands first in the Register of Members of the Company.

• 9. Members holding shares in the same name under different Ledger Folios are requested to apply for consolidation of such Folios and send the relevant share certificates to the Share Transfer Agent.

• 10. The soft copy of the Postal Ballot & E-voting Notice and the Ballot Paper is also available at the website of the Company i.e. www.kernex.in.

• 11. Members may contact Mr. Prasada Rao Kalluri (email:acs@kernex.in, M:7013846557) or Mr. Anandan K, email: anandan.k@karvy.com Phone No.040-67161591, for any grievances connected with voting by postal ballot including voting by electronic means at the Registered Office of the Company at : Plot No. 38 (part) to 4, Survey No. 1/1, KanchaImarat, Raviryal Village, Maheswaram Mandal, Hyderabad – 501510.

• 11. All relevant documents referred to in the accompanying Explanatory Statement are open for inspection at the registered office of the Company on all working days (except on Sundays and Public holidays) between 09:00 A.M. to 05:00 P.M. up to 28.05.2019, (i.e. the last date for receiving of Postal Ballots).

• 12. Pursuant to Section 108 and 110 of the Companies Act, 2013, read with Rule 20 and 22 of the Companies (Management and Administration) Rules, 2014, as amended from time to time and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company will be offering e-voting facility to the members to cast their votes (for or against) electronically on business set forth in this Notice.

• 13. The Company has appointed M/s. Karvy Fintech Private Limited to provide the E-voting facility to the shareholders of the Company to vote electronically. Please read carefully the E-Voting Instructions for casting your vote electronically.

• 14. Mr. D.S. Rao of M/s. P.S. Rao & Associates, Practising Company Secretaries, Hyderabad has been appointed by the Board as Scrutinizer for the purpose of ascertaining the requisite majority for the business set out in the notice in a fair and transparent manner.

• 15. The voting rights of members shall be in proportion to their shareholding in the paid up equity share capital of the Company as on 19.04.2019, being the cut-off date.

• 16. The members of the Company, holding shares either in physical form or in dematerialized form, as on 19.04.2019, being the cut-off date, may cast their vote (for or against) electronically during 29.04.2019 at 09:00 AM to 28.05.2019 at 05:00 PM.

• 17. Members can opt for only one mode of voting, i.e, either by physical ballot or e-voting. In case Members cast their votes through both the modes, voting done by e-voting shall prevail and votes cast through physical postal ballot forms will be treated as invalid. The instructions for electronic voting are provided hereunder.

18. E-Voting Instructionsfor shareholders for voting electronically:

• (A) The Company is providing facility for voting byelectronic means and the business as set out in theNotice may be transacted through electronic voting system. Pursuant to the provisions of Section 108 ofthe Companies Act, 2013, read with the Companies (Management and Administration) Rules, 2014 and Sub-regulation (1) of Regulation 44 of SEBI (LODR) Regulations, 2015, The Company is pleased to offere-voting facility as an alternate to its members to cast their votes electronically on the resolution set forth in the Notice of postal Ballot and E-voting.The Company has engaged the services of M/s. Karvy Fintech Pvt. Ltd, to provide the e-voting facility.

• (B) The Members whose names appear in the Registerof Members / List of Beneficial Owners as on 19.04.2019 (cut-off date), are entitled to vote on the resolution set forth in this Notice.

• (C) The e-voting period will commence on 29.04.2019 at 09:00 AM to 28.05.2019 at 05:00 PM. During this period, shareholders of The Company holding shares either in physical form or indematerialized form, as on the cut-off date may casttheir vote electronically. The e-voting module shallbe disabled by M/s. Karvy Fintech Pvt. Ltd for voting there after. Members will not be able to cast their votes electronically beyond the date & timementioned above.

• (D) The Company has appointed Mr. D.S. Rao, M/s. P.S. Rao & Associates, Practising Company Secretaries, to act as Scrutinizer toconduct and scrutinize the electronic voting and postal ballot voting processin a fair and transparent manner. The members desiring to vote through electronic mode may refer to the detailed procedure on e-voting given here under.

PROCEDURE & INSTRUCTIONS FOR E-VOTING

Instructions and other information relating to remotee-voting are as under:

1. Please take note of the below:

• (A) In case a Member receiving an email from Karvy [for Members whose email IDs are registered with the Company/Depository Participant(s)]:

  • i) Launch internet browser by typing the URL:https://evoting.karvy.com.
  • ii) Enter the login credentials (i.e. User ID and Password as mentioned in the Covering Letter). Your Folio No. / DP ID-Client IDwill be your User ID. However, if you are already registered with Karvy for e-voting,you can use your existing User ID and Password for casting your vote.
  • iii) After entering these details appropriately, click ok "LOGIN".
  • iv) You will now reach password change Menu where in you are required to mandatorily change your password. The new password shall comprise minimum 8 characters with atleast one upper case (A-Z), one lowercase (A-Z), one numeric value (0-9) anda special character (@,#,$, etc.). The system will prompt you to change your password and update your contact details like mobile number, email ID, etc. on first login. You may also enter a secret questionand answer of your choice to retrieve your password in case you forget it. It is strongly recommended that you do not share your password with any other person and that you take utmost care to keep your password confidential.
  • v) You need to login again with the new credentials.
  • vi) On successful login, the system will prompt you to select the "EVENT" i.e., Kernex Microsystems (India) Limited.
  • vii) On the voting page, enter the number of shares (which represents the number of votes) as on the Cut-off date under "FOR/AGAINST" or alternatively, you may partially enter any numbering "FOR" and partially in "AGAINST" but the total number in "FOR/AGAINST" taken together should not exceed your total shareholding as mentioned in the Covering Letter. You may also choose the option "ABSTAIN". If the shareholder does not indicate either "FOR" or "AGAINST" it will be treated as "ABSTAIN" and the shares held will not becounted under either head.

• viii) Shareholders holding multiple folios/demat accounts shall choose the voting process separately for each folios/demat accounts.

• ix) In case you do not desireto cast your vote, it willbe treated as abstained.

• x) You may then cast your vote by selecting an appropriate option and click on "Submit".

• xi) A confirmation box will be displayed. Click "OK" to confirm else "CANCEL" to modify. Once you confirm, you will not be allowed to modify your vote. During the voting period, Members can login any number of times till they have voted on all the Resolution(s).

• xii) Corporate/Institutional Members (i.e. other than Individuals, HUF, NRI, etc.) are also required to send scanned certified true copy (PDF Format) of the Board Resolution/Authority Letter, etc. together with attested specimen signature(s) of the duly authorized representative(s), to the Scrutinizer/Company at e-mail ID: raods7@gmail.com with a copy marked to evoting@karvy.com. The scanned image of the above mentioned documents should be in the naming format "Corporate Name EVENTNO." The documents should reach the Scrutinizer and such other person on or before 28.05.2019 at 05:00 PM.

• (B) In case of Members receiving physical copy of the Notice by Courier [for Members whose email IDs are not registered with the Company/Depository Participant(s)]:

  • i) User ID and initial password as provided in the Covering Letter.
  • ii) Please follow all steps from Sr. No. (i) to (xii) as mentioned in (A) above, to cast your vote.

• 2. The remote e-voting period commences on 29.04.2019 at 09:00 AM and will end on 28.05.2019 at 05:00 PM. During this period, the Members of the Company holding shares in physical form or indematerialized form, as on the Cut-off date, being 19.04.2019, may cast their vote by electronic means in the manner and process set out here in above. The e-voting module shall be disabled for voting there after. Once the vote on the resolution is cast by the Member, the Member shall not be allowed to change it subsequently.

• 3. The Company has engaged the services of M/s. Karvy Fintech Private Limited ("Karvy") as the Agency to provide e-voting facility to the members of the Company.

• 4. The Board of Directors of the Company has appointed Mr. D.S. Rao, of M/s. P.S. Rao & Associates, Practising Company Secretaries, Hyderabad to act as Scrutinizer to conduct and scrutinize the electronic voting and postal ballot voting process in a fair and transparent manner and he has communicated his willingness to be appointed as such.

• 5. Voting rights shall be reckoned on the paid up value of shares registered in the name of the member /beneficial owner (in case of electronic shareholding) ason the Cut-off date i.e. 19.04.2019.

• 6. A person, whose name is recorded in the register of members or in the register of beneficial owners maintained by the depositories as on the Cut-off date, i.e. 19.04.2019 only shall be entitled to avail the facility of remote e-voting and Postal Ballot.

• 7. The remote e-voting facility will be available during the following period: Commencement of remote e-voting: From 9:00 AM (IST) on 29.04.2019. End of remote e-voting: Up to 05:00 PM (IST) on 28.05.2019. The remote e-voting will not be allowed beyond the aforesaid date and time and the e-voting module shall be disabled by Karvy upon expiry of the aforesaid period.

• 8. The Scrutinizer shall, immediately after the conclusion of voting, count the votes by unblocking the votes cast through remote e-voting in the presence of at least two witnesses not in the employment of the Company and will make, not later than 48 hours from the conclusion of the voting, a consolidated scrutinizer's report of the total votes cast in favour or against, if any, to the Chairperson or a person authorised by him in writing who shall countersign the same. The Chairperson or a person authorised by him, upon receipt of the Scrutinizer's Report, will declare the result of voting forth with.

• 9. The results declared along with the scrutinizer's report(s) will be available on the website of the Company (www.kernex.in) and on service provider's website (https://evoting.karvy.com) and will be communicated to the Stock Exchanges within 48 hours from the conclusion of the Voting.

By Order of the Board For Kernex Microsystems (India) Limited

Place: Hyderabad Date: 16.04.2019

Sd/-

M B Narayana Raju Whole - Time Director DIN: 07993925

EXPLANATORY STATEMENT UNDER SECTION 102 OF THE COMPANIES ACT, 2013

ITEM No.1:

The Company has out of the funds raised by IPO in the year 2005, acquired 240 acres of land located at around 6 kms from Amangal Village, Amangal Mandal, Ranga Reddy District spread across Villages, at Amangal, Polepally Road and Amangal Mandal, Ranga Reddy District, Cherukuru Village, Veldanda Mandal, Nagar Kurnool district for taking up large scale manufacture. The land remained un-utilized and could not be put to use since long time as the ACD project was shelved by Railways in favour of the Train Collision Avoidance System (TCAS). The Company requires substantial funds towards procurement of equipment, materials, installation and commissioning expenses for the ongoing projects in Egyptian National Railways besides the expected TCAS Project of Indian Railways, the company is intended to invest in Avant-Garde Infosystems Inc., Wholly-Owned Subsidiary in USA to clear of its debt of USD 1 Million and to repay the unsecured loans to reduce interest burden. With the shelving of ACD Project and maintenance contract by the Railways the cash flows were affected and the Debt burden is increasing.

After considering various options for funding the ongoing projects and in view of the difficult financial position, Your Board of Directors at their meeting held on 16.04.2019 approved to sell the unutilized non revenue generating Land in the best interest of the Company as the same is not required for the present and immediate future operations .

The Company is focusing on completion of the Egyptian Railways Project and is expecting further orders.The preliminary certification work for the advanced version of Indian Railway Safety system TCAS project is in progress. Tenders are expected to be floated shortly and your Company is one of the three short listed Companies for execution of the project. The Company is required to fund besides the above projects and also, new projects that are being identified.

In this regard the management has followed bid process to identify the prospect buyer in a transparent manner at such terms and conditions as may be amicable and mutually agreed by the Board.

The sale of the said land would not have any adverse impact on the company.

As per explanation to Section 180(1)(a) of the Companies Act, 2013 ("Act"), the said land may be deemed to be an Undertaking of the Company and hence consent of the members would be required by way of a Special Resolution to transfer the said building. In terms of the provisions of Section 110 of the Act read with Companies (Management and Administration) Rules, 2014 the approval of the members has to be obtained, mandatorily through a Postal Ballot process.

The Board is of the opinion that the aforesaid Resolutions at item no. 1 is in the best interest of the Company and its members and hence, recommends for your approval. None of the Directors / Key Managerial Personnel or their relatives is concerned or interested in the resolution.

By Order of the Board For Kernex Microsystems (India) Limited

Place: Hyderabad Date: 16.04.2019

Sd/- M B Narayana Raju Whole - Time Director DIN: 07993925

POSTAL BALLOT FORM

Sl. No.:

• 1. Name(s) of shareholder(s) : Joint Holder(S), if any: (in block letter)
• 1. Registered Address of the sole/First named : Shareholders / Beneficial owner
• 1. Registered Folio No./DPID-Client ID* : (*Applicable to members holding Share in Dematerialized form)
• 1. No. of Shares held :

I/We hereby exercise my/our vote in respect of the Resolutions to be passed through Postal Ballot for the business stated in the notice of the Company dated 16.04.2019 by conveying my/our assent or dissent to the said Resolution by placing the tick (-) mark at the appropriate box below:

S.No.	Description of the Resolution	No. ofShares	I/We assent tothe Resolution(FOR)	I/We dissent tothe Resolution(AGAINST)
1.	To Sell/ Dispose-off the ImmovableProperty in the Name of CompanyPursuant To Section 180(1)(a) of theCompanies Act, 2013

Place: Date:

✃

✃

✃

_____________________ (Signature of the Shareholder)

NOTE:

PLEASE SEND THE DULY FILLED IN AND SIGNED POSTAL BALLOT FORM IN THE ENVELOPE ENCLOSED HEREWITH. THE LAST DATE OF RECEIPT OF POSTAL BALLOT FORM BY THE SCRUTINIZER IS 28.05.2019. PLEASE READ THE INSTRUCTIONS PRINTED BELOW BEFORE EXERCISING THE VOTE.

INSTRUCTIONS:

• 1. Members desiring to exercise their vote by Postal Ballot are requested to carefully read the instructions mentioned herein and those mentioned in the Postal Ballot Form and return the same duly completed in the enclosed Self-addressed Postage Pre-paid Business Reply Envelope to the Scrutinizer. Postage on Self-addressed Pre-paid Business Reply Envelope will be borne by the Company. Envelopes containing Postal Ballot Form, if deposited in person or sent by Courier or any other modeat the expense of the Member will also be accepted.
• 1. Please convey your assent / dissent in this Postal Ballot Form only. The assent or dissent received in any other form shall not be considered valid.
• 1. The self-addressed Business Reply Envelope bears the postal address of the Scrutinizer appointed by the Company.
• 1. The Postal Ballot Form should be completed and signed by the Member (as per the specimen signature registered with theCompany /RTA or Depository Participants, in respect of shares held in physical form or dematerialized form respectively).Any unsigned Postal Ballot Form will be rejected.
• 1. In case of joint holding, the Postal Ballot Form should be completed and signed by the first named Member and in theabsence of such Member, by the next named joint-holder.
• 1. In case of shares held by Companies, Trusts, Societies etc., a duly completed Postal Ballot Form should be signed by itsauthorized signatory. In such cases the Postal Ballot Form shall be accepted only if the same is accompanied by a Certified True Copy of the Board Resolution / Authority together with the specimen signature(s) of the duly Authorised Signatory (ies).
• 1. The envelopes containing the Postal Ballot Form duly completed and signed should be forwarded so as to reach the Scrutinizer not later than the close of working hours i.e., 5.00 PM on or before 28.05.2109 Postal Ballot Form(s) received after this date and time will be treated as if the reply from the Member has not been received.
• 1. A Member can apply for duplicate Postal Ballot Form through an email at einward.ris@karvy.com, if so required. However, the duly filled in duplicate Postal Ballot Form should reach the Scrutinizer not later than the close of working hours on or before 28.05.2019 (i.e. 5:00 P.M.). For any clarification(s), please contact M/s. Karvy Fintech Private Limited ontoll free number: 1800 3454001.
• 1. The right of voting by Postal Ballot shall not be exercised by proxy.
• 1. Members are requested to fill the Postal Ballot Form in indelible ink and avoid filling it by using erasable writing mediumslike pencil.
• 1. Voting Rights shall be reckoned on the Paid up value of shares registered in the name of the Member as on the cut-off datei.e., 19.04.2019.
• 1. Any incomplete, unsigned, incorrectly completed, incorrectly ticked, defaced, torn, mutilated, over-written, wrongly signed Postal Ballot Form will be rejected. The Postal Ballot shall not be exercised by a Proxy.
• 1. Members are requested not to send any other paper(s) along with the Postal Ballot Form in the enclosed self-addressed postage prepaid envelope as all postal ballot(s) will be sent to the Scrutinizer and any extraneous paper found in such envelope would be destroyed by the Scrutinizer.
• 1. There will be one Postal Ballot Form for every Folio/Client ID, irrespective of the number of Joint holders.
• 1. Assent or dissent to the proposed resolution may be recorded by placing a tick mark (v) in the appropriate column. Postal ballot form bearing tick mark (v) in both the column will render the form invalid.
• 1. The Scrutinizer's decision on the validity of Postal Ballot Form shall be final.
• 1. The Company is pleased to offer e-voting facility as an alternative, for all the Members of the Company to enable them to cast their votes electronically instead of dispatching Postal Ballot Form. The detailed procedure of e-voting is enumerated in the Notes to the Postal Ballot Notice.
• 1. The Resolution, if assented by requisite majority, shall be considered as passed on Wednesday, the 29.05.2019 (i.e. the date of declaration of the Postal Ballot Result).