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Tata Capital Financial Services Limited Completes Dispatch of Postal Ballot Notice for the Continuation of NCDs Issued to Public


January 28, 2014 - Mumbai, Maharashtra, India

Tata Capital Financial Services Limited has, on January 15, 2014, completed the dispatch of the Notice dated January 2, 2014 along with the Explanatory Statement and the Postal Ballot Form in connection with the Special Resolution to be passed through Postal Ballot, for the continuation of the NCDs of the aggregate outstanding amount of Rs. 605.02 crore, for a further period of 5 years i.e. up to March 5, 2019, at the existing coupon rate.
 
The NCD holders can vote on the Postal Ballot from the date of receipt of the Notice up to the close of the business hours (6.00 p.m.) on Friday, February 14, 2014 and the Results of the Postal Ballot will be declared on Monday, February 17, 2014 at 3:00 p.m. at the Registered Office of the Company.
 
The Company has also sent Consent Forms to enable NCD holders to opt for continuing their NCDs for a further period of 5 years or to redeem their NCDs on March 5, 2014. The consent to continue to hold the NCDs for the further period of 5 years at the existing coupon rate, is subject to the Special Resolution for this purpose being approved by 75% of the NCD holders voting (in number and in value), through Postal Ballot. The Company will redeem NCDs of those holders who do not wish to continue to hold their NCDs for the extended period, on March 5, 2014.  
 
If the NCD holder wishes to continue to hold the NCDs, following is the procedure to be followed:
 
i.The NCD holder should give a positive consent to continue to hold ALL and not a portion of the NCDs held, under each of the option, separately. It may be noted that a vote in favour of the Resolution for continuing the NCDs, in the Postal Ballot form, would not be construed as a  deemed consent for continuing the NCDs. 

ii.The NCD holders desiring to continue the NCDs, are requested to select the option to continue to hold the NCDs in the Consent Form and thereafter send the same, duly completed and signed to Karvy Computershare Private Limited (“Karvy”), the Company’s Registrar and Transfer Agents, in the separate pre-paid postage Business Reply Envelope sent for this purpose. 

iii.The last date for receipt of the Consent Form is Friday, February 21, 2014. In case no option is selected by the NCD holder in the Consent Form or the Consent Form is received after Friday, February 21, 2014 or is not received or a negative response is received, the NCDs would be redeemed on March 5, 2014. 
 
The Forms will also be available at the offices of the Company and Karvy and can also be downloaded from the Company’s web site: www.tatacapitalfinancialservices.com or Karvy’s website: karisma.karvy.com.  
 

About Tata Capital Financial Services Limited

Tata Capital Financial Services Limited (TCFSL) is a subsidiary of Tata Capital Limited. The Company is registered with the Reserve Bank of India as a Systemically Important Non Deposit Accepting Non-Banking Financial Company (NBFC) and offers fund and fee-based financial services to its customers, under the Tata Capital brand.
 
A trusted and customer- centric, one-stop financial services provider, TCFSL caters to the diverse needs of retail, corporate and institutional customers, across various areas of business namely the Commercial Finance, Infrastructure Finance, Consumer Loans and distribution and marketing of Tata Cards and Wealth Management products.
 
TCFSL has over 100 branches spanning all critical markets in India.
For more information about Tata Capital click here

Source: Business Wire India

BusinessWireIndia

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