Max Financial Services Limited — Major Shareholding Notification 2021

Aug 4, 2021

MAX VENTURES INVESTMENT HOLDINGS PRIVATE LIMITED

Registered Office: Max House, 1, Dr. Jha Marg, Okhla, New Delhi - 110 020 Phone: +91 11 4259 8000 Fax: +91 11 4060 0098 CIN: U74899DL1988PTC030778 Email Id: secretarial@maxventures.co.in

August 04, 2021

Listing Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400021

Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex. Bandra (East) Mumbai - 400051

The Secretary Max Financial Services Limited Railmaira, Tehsil Balachaur, Distt. Nawanshahr Punjab - 144533

Dear Sir / Madam,

SUB. DISCLOSURE UNDER REGULATION 31(1) AND 31(2) OF SEBI (SAST) REGULATIONS, 2011

Please find enclosed disclosures in terms of Regulation 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.

Also find enclosed Annexure No. $\mathbb{H}$ in. terms $of$ SEBI Circular SEBI/HO/CFD/DCR1/CIR/P/2019/90 dated August 7, 2019.

You are requested to take note of the above.

Thanking you.

Yours faithfully. For Max Ventures Investment Holdings Pvt. Ltd.

Arvind Aggarwal (Director)

Encl. as above

Annexure - II

Format for disclosure of reasons for encumbrance

(In addition to Annexure - I prescribed by way of circular dated August 05, 2015)

Name of listed company	Max Financial Services Ltd
Name of the recognised stock exchanges where the	BSE Ltd. & National Stock Exchange of India Ltd.
shares of the company are listed
Name of the promoter(s) / PACs whose shares have been Refer Annexure - IIA lencumbered
Total promoter shareholding in the listed company	No. of shares - 5,08,01,253
	% of total share capital - 14.72%
Encumbered shares as a % of promoter shareholding	a) Pledge of Shares - 54.94%
	b) Covenant with certain lenders to keep shares
	free from any encumbrance through Free Share
	obligation / non-disposal undertakings
Whether encumbered share is 50% or more of promoter	YES
shareholding
Whether encumbered share is 20% or more of total share NO capital

$\rightarrow$

Name of the Promoter(s) / PACs whose shares have been encumbered

S. NO. NAME	NO. OF SHARES	$\%$
ANALJIT SINGH	1.10.000	0.03
NEELU ANALJIT SINGH	1.00.000	0.03
PIYA SINGH	1.10.333	0.03
TARA SINGH VACHANI	1.00.000	0.03
IMAX VENTURES INVESTMENT HOLDINGS PRIVATE LIMITED	5.03.80.920	14.60
TOTAL	5,08,01,253	14.72

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		fincumbrance 1	Encumbrance 2	Encumbrance 3	Encumbrance 4	Encumbrance 5	Encumbrance 6	Encumbrance 7
Date of creation of encumbrance / date of agreement		27.08.2019	27.08.2020	0700.000	18.09.2020	29.102020	29.10.2020	27.01.2021
	Type of encumbrance (pledge, lien, negative lien, non-disposal undertaiding etc. or any other covenant, transaction, condition or arrangement in the nature of encumbrance)	Piedge	Pledge	Pledge	Plaster	Pledge	Free shares covenant	Photos
No. of shares encumbared		10,00,000	3,60,000	2,40,000	2,45,902	59,50,000	76,20,188	34,87,475
% of shares encumbered		0.29	0.10	0.07	0.07	$\overline{17}$	221	1.01
Specific details about the encumbrance	Name of the entity in whose favour shares encumbaned (X)	Vietra ITCL (India) Ltd. On behalf of Yes Bank Ltd.	Virtue Financial Services Private Limited	Services Private Virtue Financial Limited	Skira Universal Private Limited on behalf of Sara International Private Limited	on behalf of Tata Capital Housing Finance United Catalyst Trusteeship Ltd Financial Services Ltd ind Teta Cepital	Ltd on behalf of Tata Catalyst Trusteeship Capital Financial Services Ind.	Hero Fincorp Ltd.
	institution, NBFC or housing finance company? If No, provide the nature of the Whatter the entity X is a scheduled commercial bank, public financial business of the entity.	y	y	ğ	y	y	Ľ,	ğ
	Names of all other entities in the agreement	Uimhad Vana Enterprises	Max Ventures Investment Holdings Private Umited	Investment Holdings Private Limited Max Ventures	Investment Holdings Private Limited Max Ventures	Investment Holdings Private Limited Max Ventures	Investment Holdings Private United Max Ventures	Max Ventures Investment Holdings Private Limited
	Whether the encumbrance is relating to any debt instruments viz. debenture, commercial paper, certificate of deposit etc.? If yes, provide details about the Instrument, including credit rating. If yes,	$\ensuremath{\mathcal{Q}}$ $\mathbf{I}$	£	£	£	₹	£	£
	1. Name of the issuer
	7. Details of the debt instrument
	3. Whether the debt Instrument is listed on stock eachenges? 4. Credit: Hiting of the debt instrument?
	5. ISIN of the Instrument
Security Cover / Asset	Value of shares on the date of event / agreement (A)	1,10,32,50,000	39,71,70,000	26,47.10,000	27,12,91,382	6,56,43,17,500	8,40.69,72.356	3,84,75,54,587
Cover	Amount invoived (in plast which shares have been encumbered) (B)	45,00.00,000		10,00,00,000	10,00,00,000	2,97,50,00,000	2,97,50,00,000	1,50,00,00,000
	Ratio of A/B	2.45	f	B	2.71	221	2.83	2.57
End use of money	Provide details including amount, purpose of raising money by listed company, schedule for utilization of amount, repayment schedule etc. Borrowed amount to be utilized for what purpose (a) Personal use by promoters and PACs (b) For the benefit of listed company (a) Any other resson (please specify)	Personal use by promotors and PACs	Personal use by promoters and PACs	promoters and PACs Personal use by	promoters and PACs Personal use by	promoters and PACs Personal use by	promoters and PACs Personal use by	promoters and PACs Personal use by

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		Encumbrance &	Encombrance 9	Encumbrance 10	Encumbrance 11	Encumbrance 12	Encumbrance 13	Encumbrance 14
	Date of creation of encumbrance / date of agreement	02.02.2021	07.03.2021	09.03.2021	26,03,2021	18.05.2021	18.05.2021	28.05.2021
	Type of encumbrance (pledge, lien, negative lien, non-disposal undertaking etc. or any other covenant,	Piedge	Free shares covenant	Pledge	Pledge	Pledge	Free shares coverant	Pledge
No. of shares encumbared	transaction, condition or arrangement in the nature of encumbrance)
% of shares encumbared		11,90,000 34	76,20,188	75,05,400	13,02,989	14,31,818	50,80,125	5,65,000
			2.21	2.17	0.40	0.41	147	0.15
Specific details about the encumbrance	Name of the entity in whose favour shares encumbered (X)	Aditys Birle Finance Limited	Catalyst Trusteeship United Investment Fund; and (iii) an behalf of (I) ESOF III ECL Finance United	Umited on behalf of (1) Catalyst Trusteeship ESOF III ' Investment Fund; and (ii) ECL Finance Limited	Here Fincerp Ltd	Infina Finance Private Ltd Infina Financa Private Ltd Elvine Star Build Cap. (P)		E,
	Institution, NBFC or housing finance company? If No, provide the nature of the Whether the entity X is a scheduled commercial bank, public financial business of the entity.	L	(1) ESGF III Investment Fund Is an Alf; and (1) ECL Finance Limited is a NBFC	SCL Finance Limbad is a (i) ESOF III Investment Fund is an AIF; and (II) NBFC	ğ	y	L	p
	Names of all other entities in the agreement	Max Ventures Investment Holdings Private Limited	None	None	None	None	None	None
	Whether the encumbrance is relating to any debt instruments viz. debenture, commercial paper, cortificate of deposit etc.? If yes, provide details about the instrument, including credit rating. If yes,	£	p	Ë	$\overline{\mathbf{z}}$	£	∤	£
	1. Name of the issuer		Max Ventures Investment	Max Ventures
			Holdings Pvt. Ltd.	Investment Holdings Pvt. Ltd.
	2. Details of the debt instrument		non-convertible debentures 10,000 unlisted redeemable	convertible debantures redeemable non- 40,000 unlisted
	3. Whether the debt instrument is listed on stock eachanger?		Unlisted	Unistad
	4. Credit Rating of the debt instrument?		Unrated	Unrated
	5. ISIN of the Instrument		6. INE709V07086 2 INE709V07045 3. INE709V07052 4. INE709V07060 5, INE709V07078 7. INE709V07094 1. INE709V07037	4 INEZGRADZOGO 6. INE709V07086 1. INETOXOTOST 1. INETOSYOTOS 3. INE709V07052 5. INE709V07078 7. INE709V07094
Security Cover / Asset	Value of shares on the date of event / agreement (A)	1,31,28,47,500	8,40,69,72.355	8,28,05,51,100	1,53,68,15,114	1.57.98.53.209	152,82,46,48,237	62,33,36,250
Cover	Amount involved ingelnst which shares have been encumbered) (B)	55,00,00,000	4,00,00,00,000	4,00,00,00,000
	Ratio of A/B	$\frac{30}{2}$	2.10	2.07	2.56 10.00,00,000	75,00,00,000 2.11	7.47 75,00,00,000	25,00,00,000 38
End use of money	Borrowed amount to be utilized for what purpose (a) Personal use by promoters and PACs (b) For the benefit of listed company	Personal use by promoters and PACs	Personal use by promoters End PAG	promoters and PACs Personal use by	Personal use by promoters and Personal use by PAG	promoters and PACs	promoters and PACs Personal use by	promoters and PACs Personal use by
	Provide details including amount, purpose of raising money by listed company, schivitate for utilization of amount, repayment schedule etc. (a) Any other reason (please specify)

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Details of all existing events / agreements partaining to excumberance

		Encumbrance 15	Encumbrance 18
	Date of creation of encumbrance / date of a	15.06.2021	30.06.2021
	ypy of encumbrance (pledge, lien, negative lien, non-disposal undertaking etc. or any other covenant, transaction, condition or arrangement in the nature of encumbrance)	Piedge	Pleaty:
No. of shares encumbered		21,40,670	24,00,000
% of shares encumbered		0.62	0.70
Specific details about the encumbrance	Name of the entity in whose favour shares encumbered (X)	STO Finance Ltd.	Asia-Pacific Private Credit William ITCL India Pvt Ltd on behalf of BlackRock Opp. Fund II (SG) VCC
	institution, NBFC or housing finance company? If No, provide the nature of the Whether the entity X is a scheduled commercial bank, public financial business of the entity.	y	No. The entity is an AIF
	Numes of all other entities in the agreement	None	None
	commercial paper, certificate of deposit etc.? If yes, provide details about the Wikeling the encumbrance is relating to any debt instruments viz. debenture, instrument, including credit rating . If yes,	£	ij
	1. Name of the Issuer		Max Ventures Investment Holdings Pvt. Ltd.
	2. Details of the debt instrument		convertible debantures redeemable non- 1,400 unlisted
	1. Whether the debt instrument is listed on stock exchange i?		Unlisted
	4. Credit Ratillig of the debt instrument? 5. ISIN of the Instrument		1. INE709V07110 1. INE709V07102 3. INE/09V07128 Unrated
Security Cover / Asset	Value of shares on the date of event / agreement (A)	2,36,19,14,828	2,54,78,00,000
Cover	Amount Involved intuited which shares have been encumbered (B)
	Ratio of A/B	1,00,00,00,000 2.36	$\frac{8}{3}$ 1,40,00,00,000
End use of money	Borrowed amount to be utilized for what purpose (a) Personal use by promoters and PACs (b) For the benefit of listed company	promoters and PACs Personal use by	promoters and PACs Personal use by
	Provide details including amount, purpose of raising money by listed company, schedule for utilization of amount, repayment schedule etc. (a) Any other reason (please specify)

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