Max Financial Services Limited — Major Shareholding Notification 2021

Jun 28, 2021

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 theshares of the company are listed	BSE Ltd. & National Stock Exchange of India Ltd.
Name of the promoter(s) / PACs whose shares have been Refer Annexure - IIAencumbered
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 - 67.63%
	b) Covenant with certain lenders to keep sharesfree from any encumbrance through Free Shareobligation / non-disposal undertakings
Whether encumbered share is 50% or more of promotershareholding	YES
Whether encumbered share is 20% or more of total share NOcapital

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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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		Thoursbrance 3	Encumbrance 2	Eacumbrance 3	Encumbrance 4	Encumbrance 5	Encumbrance 6	Encumbrance 7
	Date of creation of encumbrance / date of agreement	18.04.2017	18.05.2018	27.08.2019	05.03.2020	05.09.2020	04.06.2020	04.06.2020
	You of encumbrance (pindim, liken, migrative liken, non-disposal undertainig etc. or any other covenant,	Pledgy	Pledge	Please	Tiedde	Pledge	Pieblat	Plu die
No. of shares encumbered		Still Little	7,000	10,00,000	5,79.154	5,79,090	2,31,662	2,31,600
% of shares encumbered		0.03	800	0.29	13	0.17	59	0.07
Specific details about theencumbrance	Name of the entity in whose favour shares encumbared (X)	TDBI Trusteeship Services LtdDevelopment Financeon behalf of HousingCorporation Ltd.	STOL Finance United	Cin behalf of Yes BankVistra ma (India) Ltd.눸	Securities Holdings(India) Pvt. Ltd	Shinin Star Build Cap. (P)E.	Securities Holdings(India) Pvt. Ltd	Shift Star Build Cap. (P)궠
	Institution, NBFC or housing finance company? If No, provide the nature of theWhether the entity X is a scheduled commercial bank, public financialbusiness of the entity.	y	yaM	y	y	y	ļ	L
	Names of all other entities in the agreement	Max Ventures InvestmentHoldings Private United	1. Max Ventures Investment2. Pheta Estates PrivateHoldings Private LimitedUmbed	Varia EnterprisesUnited	Investment HoldingsPrivate UnitedMax Ventures	Investment HoldingsPrivate LimitedMax Ventures	Investment HoldingsPrivate UnitedMax Ventures	Max Ventures InvestmentHoldings Private Limited
	Whether the encumbrance is relating to any debt instruments viz. debenture,italismential paper, certificate of deposit etc.? If yes, provide details about theInstrument, including credit rating . If yes,	£	£	£	£	£	$\ddot{\bm{z}}$	£
	1. Name of the issuer
	2. Details of the debt instrument
	3. Whether the debt instrument is listed on stock exchanges?4. Credit: Pating of the debt Instrument?
	5. ISIN of the Instrument
Security Cover / Asset	Vilue of shares on the date of event / agreement (A)	10,63,90,017	75.91.850	1,08,45,50,000	62,81,21,471	62,80,52,060	25,12,49,022	25,11,81,780
Cover	Amount involved lagalinst which shares have been enour bened (b)				25,00,00,000	25,00,00,000
	Ratio of A/B		٠	45,00,00,000$\mathbf{z}$	$\overline{151}$	2.51	profootorer	10,00,00,000$251$
End use of money							251
	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 promotersand PACs	Personal use by promotersand PACs	promoters and PACsPersonal use by	promoters and PACsPersonal use by	promoters and PACsPersonal use by	promoters and PACsPersonal use by	promoters and PACsPersonal 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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		Encumbrance 8	Encumbrance 9	Enquirities	Encumbrance 11	Knownbrance 17	Encumbrance 13
Date of creation of encumbrance / date of signermint		27.07.2020	29.07.2020	20.08.2020	27.08.2020	27.08.2020	03.09.2020
	Tipe of encumbrance (perige, lim, migative lim, non-disposal undertabling etc. or any other coverent,	Pindjet	Pledige	Piertgy	Pieder	Fiether.	Pleeige
No. of shares encumbared		AZL87	5,79,000	4,20,000	11,58,000	4,05,000	5,90,000
% of shares encumbered		0.17	0.17	0.12	54	0.12	0.17
Specific details about theencumbrance	Name of the entity in whose favour shares encumbered (X)	Securities Holdings (India)Pvt. Ltd	Voitat Bulldwell PrivateLimited	Bhadani Financers PrivateUmited	Shine Star Build Cap. (P)E	Virtue Financial ServicesPrivate Limited	SIG Finalp Pvt Ltd
	nstitution, NBFC or housing finance company? If No, provide the nature of theWhitther the entity X is a scheduled commercial bank, public financialbusiness of the entity.	ğ,	ļ	L	L	y	L
	Names of all other entities in the agreement	Max Ventures InvestmentHoldings Private Limited	Max Ventures InvestmentHoldings Private Umbed	Max Ventures InvestmentHoldings Privete Limited	Investment HoldingsPrivate LimitedMax Ventures	Max Ventures InvestmentHoldings Private Limited	Max Ventures InvestmentHoldings Private Umited
	commercial paper, certificate of deposit etc.? If yes, provide details about theWhether the encumbrance is relating to any debt instruments viz. debenture,Instrument, including credit rating. If yes,	Ł	£	£$\bar{z}$	£	£	£
	1. Name of the lesuer
	1. Details of the debt instrument
	3. Whather the debt instrument is listed on stock exchanges?I Credit Rating of the debt instrument?
	5 ISIN of the instrument
Security Cover / Asset	Value of shares on the date of event / agreement (A)	62.81.21.471	62,79,54,450	45,55,11,300	1,25,59,08,900	43,92,42,750	67.98,84,500
Cover	Amount involved (against which shares have been encumbered) (ii)	25,00,00,000	25,00,00,000	20,00,00,000	50,00,00,000	15,00,00,000	25,00,00,000
	Ratio of A/B	$\frac{51}{2}$	151	2.28	$\frac{51}{2}$	2.93	2.56
End use of money	Borrowed amount to be utilized for what purpose	Personal use by promoters		Personal use by promoters	Personal use by
	(ii) Personal use by promoters and PACs(b) For the benefit of listed company	and PACs	Personal use by promotersInd PACs	Ind PAG	promoters and PACs	Personal use by promoters and Personal use bySAG	promoters and PACs
	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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		Encymbrance 14	Encumbrance 15	Encumbrance 10	Encumbrance 17	Encumbrance 18	Encumbrance 19	Elicumbrance 20
Date of creation of encumbrance / date of agreement		07.09.2020	16.09.2020	18.09.2020	29.10.2020	29.10.2020	11.12.2020	27.01.2021
	Type of encumbrance (product lien, magazine lien, non-disposal undertaining etc. or any other coverant.	Pledge	Pierrer	Piede	Pleidge	Free shares coverant	Plecign	Pierdas
No. of shares encumbered		3,10,000	applart 1	2,45,902	70 50,000	76,20,188	7,37,000	ELY/12YE
% of shares encumbered		eoro	0.12	g	2.D4	221	0.21	$\frac{5}{4}$
Specific details about theencumbrance	Name of the entity in whose favour shares encumbered (X)	Virtue Financial ServicesPrivate Limited	Bhadani Financers PrivateLimited	Limited on behalf of SaraSara Universal PrivateInternational PrivataLimited	Financial Services Ltd and Financial Services Ltd.Catulytt Trusteedig Ltdon behalf of Tata CapitalTata Capital HousingFinance Limited	on behalf of Tata CapitalCatalyst Trusteeship Ltd	Investment ConsultancyNM Finance and곜	Hero Fincorp Ltd
	Institution, NBFC or housing finance company? If No, provide the nature of theWhithir the entity X is a schooluled commercial bank, public financialbusiness of the entity.	t,L	y	Ł	y	y	ļ	y
	Names of all other entities in the agreement	Max Ventures InvestmentHoldings Private Umited	Max Ventures InvestmentHoldings Private Limited	Max Ventures InvestmentHoldings Private Limited	Max Ventures InvestmentHoldings Private Limited	Max Ventures InvestmentHoldings Private Limited	Max Verritures InvestmentHoldings Privets Limited	Max Ventures InvestmentHoldings Private Umited
	Whether the encumbrance is relating to any debt instruments viz. debenture,commental paper, certificate of deposit etc.? If yes, provide details about thenstrument, including credit rating. If yes,	£	£	£	£	£	£	2
	1. Name of the Issuer
	2. Details of the debt instrument
	3. Whether the debt instrument is listed on stock exchanges?4. Oredit: Natinia of the debt instrument?
	5. ISIN of the instrument
Security Cover / Asset	Value of shares on the date of event / agreement (A)	005'01'33,62	45,55,11,000	26,66,93,014	7,64,60,77,500	ft.26,44,74,841	79,93,13,350
Cover	Articlarit Involved lagainst which shares have been encumbered (B)	10,00,00,000	20,00,00,000	10.00.00.000	3,41,00,00,000	141,00,00,000	35,00,00,000	3,78,23,38,842
	Ratio of A/B	S.36	2.28	257	2.34	242	2.28	ZE2
End use of money	Borrowed amount to be utilized for what purpose	Personal use by	Personal use by	Personal use by	Personal use by			Personal use by
	Provide details including amount, purpose of raising money by fisted company,schedule for utilization of amount, repayment schedule etc.(a) Personal use by promoters and PACs(b) For the benefit of listed company	promoters and PACs	promoters and PACs	promoters and PACs	promoters and PACs	promoters and PACsPersonal use by	promoters and PACsPersonal use by	promoters and PACs
	(a) Any other reason (please specify)

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		Encumbrance 21	Encumbeance 22	Enturinbrance 23	Encambrance 24	Encumbrance 25	Encumbrance 26	Encumbilities 27
Date of creation of encumbrance / date of agreement		02.02.2021	07.08.2021	09.03.2021	26.03.2021	18.05.2021	18.05.2021	28.05.2021
	Type of encumbrance (plintigh, lien, negative lien, non-disposal undertaking etc. or any other coverant,	Pledge	Free shares covernant	Pleidge	Pleage	Piedge	Free shares coverant	Pinder
No. of shares encumbered		12,90,000	76,20,168	65,05,600	13,92,989	16,23,711	50,80,125	5,65,000
% of shares encumbered		0.37	2.21	2.46	0.40	0.47	147	0.16
Specific dotalls about the	Name of the entity in whose favour shares encumbered (X)	FinanceAdhya Birla	Cartalyst Trusteeship	Catalyst Trusteeship	Hero Fincorp Ltd.		Infina Financa Privete Ltd Infina Finance Private Ltd sliline Star Build Cap. (P)
enoundrance		Limited	ESOF III Investment Fund;Limited on behelf of (i)and (II) ECL FinanceLimited	Limited on behalf of (i)ESOF III InvestmentFund; and (II) ECLFinance Limited				E
	Institution, NBFC or housing finance company? If No, provide the rature of theWhitthit the entity X is a scheduled commercial bank, public financialbusiness of the entity.	ğ	ECL Finance Limited is a(1) ESOF III InvestmentFund is an AIF; and (ii)NBFC	ECL Finance Limited Is a(i) ESOF III InvestmentFund is an AIF; and (ii)NBFC	y	yes	L	₹
	Names of all other entities in the agreement	Max Ventures InvestmentHoldings Private Limited	None	None	None	Nome	None	None
	Whether the encumbrance is relating to any debt instruments viz. debenture,commercial paper, cordificate of deposit etc.7 If yes, provide details about theInstrument, including credit rating . If yas,	£	ž	ä	£	£	£	$\overline{\mathbf{z}}$
	1. Name of the lesuer		Investment Holdings Pvt.Max VenturesÏ	Investment Holdings Pvt.Max VenturesÏ
	2. Details of the debt instrument		40.000 unlisted	40,000 unlisted
			convertible debenturesredsemable non-	convertible debenturesredeemable non-
	3. Whether the debt instrument is listed on stock eachanges?		Unlisted	Unlined
	4. Credit: Rating of the debt instrument?		Unrated	Unrated
	F. ISIN of the Instrument		INE709V070782. INE709V070454 INE709V07060IL INE709V070851. INE709V070973. INE709V070527. INE709V07094	2. INE709V070454 INE709V070605. INE709Y070786 INE709V070863. INE709V070521. INE709VO70977. INE709VO7094
Security Cover / Asset	Value of shares on the date of event / egreement (A)	39.30.69.500	8,26,48,74,841	9,22,47,48,480	1,51,07,06,220	1,76,09,95,765	5,50,96,49,894	61,27,70,750
Great	Amount Involved (egalest which shares have been encumbered) (B)	55,00,00,000	1,00,00,00,00	4,00,00,00,000	60,00,00,000	75,00,00,000		25,00,00,000
	Ratio of A / B	$\frac{3}{2}$	2.07	2.31	2.52	235	75,00,00,000$\frac{12}{2}$	2.45
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 PACsPersonal use by	promoters and PACsPersonal use by	promoters and PACsPersonal use by	promoters and PACsPersonal use by	promoters and PACsPersonal use by	promoters and PACsPersonal use by	promoters and PACsPersonal 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)

Details of all existing events / agreements partaining to ensumberance

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Date of creation of encumbrance / date of signermentSpecific details about theNo. of shares encumbered% of shares encumbared	way of encumbrance (pledge, limit, negative hert, non-disposal undertaking etc. or any other coverant,	15.06.2021
		Pindge
		22,70,870
		0.66
encumbrance	Name of the entity in whose favour shares encumbered (X)	STEI Finance Ltd.
	restrution, NBFC or housing finance company? If No, provide the nature of theWhether the entity X is a scheduled commercial bank, public financialbusiness of the entity.	y
	Names of all other entities in the agreement	Nome
	commercial paper, certificate of deposit etc.? If yes, provide details about theWhittim the encumbrance is relating to any debt instruments viz. debenture,instrument, including credit rating . If yes,	£
	1. Name of the Issuer
	2. Details of the debt instrument
	Whether the debt instrument is listed on stock eacher(e)?Credit Rating of the debt instrument?
	5. ISIN of the Instrument
Security Cover / Asset	Value of shares on the date of event / agreement (A)	2,45,28,72,059
Cover	Arricunt Involved lagamst which shares have been encumbered (#)Ratto of A/B	2.461,02,00,00,000
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 PACsPersonal use by
	Provide details including amount, purpose of raising money by Ested company,schedule for utilization of amount, repayment schedule etc.(a) Any other reason (please specify)