Persistent Systems Limited — Board/Management Information 2019

Jul 25, 2019

PERSISTENT

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NSE & BSE / 2019-20 / 049 July 25, 2019

The Manager, Corporate Services, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai 400 051 Ref: Symbol: PERSISTENT

The Manager, Corporate Services, Bombay Stock Exchange Limited 14[th ] Floor, P J Towers, Dalal Street, Mumbai 400 001 Ref: Scrip Code: 533179

Dear Sir / Madam:

Sub: Intimation of retirement of M/s. Deloitte Haskins & Sells LLP, Chartered Accountants, Statutory Auditors of the Company at the 29[th ] Annual General Meeting

• Ref: Our Letter bearing no. NSE & BSE / 2019-20 / 043 dated July 24, 2.019 for intimating the communication dated July 23, 2019 received from M/s. Deloitte Haskins & Sells LLP, Chartered Accountants

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 or any other applicable provisions and in continuation to the our above referred communication, we wish to inform you that in the notice of 29[th ] Annual General Meeting (AGM) held on July 24, 2019, the Company had proposed reappointment of M/s. Deloitte Haskins & Sells LLP, Chartered Accountants (Firm Registration No. 117366/ W- 100018) ('Deloitte') as the statutory auditors for a second term of 2 (Two) years from the date of the 29[th ] AGM till the conclusion of 3i[5t ] AGM of the Company, to be held on or before September 30, 2021.

As mentioned in the above referred communication by Deloitte, they have informed that if their reappointment is approved for abovementioned term of 2 (Two) years, and not for 5 (Five) years, they will not be able to accept the same.

The Company has received the voting results from the scrutinisers of the 29[th ] AGM a while ago. It appears from the scrutinizers report that the Members have passed the Ordinary Resolution with requisite majority for reappointment of Deloitte as the Statutory Auditors of the Company, to hold office for the above-mentioned period. However, in light of the above referred communication by Deloitte, the said resolution will not be effective.

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Therefore, the Board of Directors of the Company, at its meeting held on July 24, 2019 and concluded on July 25, 2019, has decided to identify a suitable audit firm which would be appointed as the statutory auditors of the Company within prescribed time. Further, in terms of Section 139(10) of the Companies Act, 2013, Deloitte shall continue to be the statutory auditor of the Company until the appointment of new statutory auditors.

We request you to take the same on your record.

Please acknowledge and oblige.

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Thanking you, Yours sincerely, For Persistent Systems Limited Amit A Company Secretary ICSI Membership No.: A20507

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Persistent Systems Limited, Bhageerath, 402, Senapati Bapat Road, Pune 411016 I Tel : +91 (20) 670 30000 Persistent Systems Inc., 2055, Laurelwood Rd, Suite 210, Santa Clara, CA 95054, USA I Tel : +1 (408) 216 7010 CIN - L72300PN1990PLC056696 I Fax - +91 (20) 6703 0009 I e-mail - info@persistent.com I Website - www.persistent.com