IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
THIS ABRIDGED PROSPECTUS CONSISTS OF 48 PAGES. PLEASE ENSURE THAT YOU GET ALL PAGES
Please ensure that you read the Prospectus, the general instructions contained in this Memorandum before applying in the Issue. Unless
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India Infoline Finance Limited
(Formerly known as India Infoline Investment Services Limited)
A Public Limited Company Incorporated under the Companies Act, 1956, as amended (“the Act”).
Registered as a Non-Banking Financial Company within the meaning of the Reserve Bank of India Act, 1934 (2 of 1934).
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of ` 1,000 each, (“NCDs”), aggregating upto `PLOOLRQKHUHLQDIWHUUHIHUUHGWRDVWKH³%DVH,VVXH´ZLWKDQRSWLRQWRUHWDLQRYHUVXEVFULSWLRQ
upto`5,250 million aggregating to a total of upto ` PLOOLRQ KHUHLQDIWHU UHIHUUHG WR DV WKH ³2YHUDOO ,VVXH VL]H´
GENERAL RISKS
Investors are advised to read the Risk Factors carefully before taking an investment decision in the Issue. For taking an investment decision, the investors
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titled “Risk Factors” on pages XI to XXVII of the Prospectus.
ISSUER’S ABSOLUTE RESPONSIBILITY
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CREDIT RATING
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GDWHG$XJXVWDQGµ%:5$$2XWORRN6WDEOH¶E\%ULFNZRUNIRUDQDPRXQWRIXSWR`10,500 million vide its letter dated August 27, 2013. The
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obligations. Such instruments carry very low credit risk. The rating of NCDs by Brickwork indicates instruments with this rating are considered to have
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and/or Brickworkmay be suspended, withdrawn or revised at any time by the assigning rating agency and should be evaluated independently of any other
rating.These ratings are not a recommendation to buy, sell or hold securities and investors should take their own decisions. Please refer to page 424 of the
Prospectus for the rationale for the above ratings.
LISTING
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2XU&RPSDQ\KDVREWDLQHGµLQSULQFLSOH¶DSSURYDOVIRUWKH,VVXHIURPWKH16(DQG%6(vide their letter(s) both dated September 4, 2013. For the purposes
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PUBLIC COMMENTS
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comments for a period of 7 (seven) Working Days.i.e. until 5 p.m. on September 4, 2013
ISSUE SCHEDULE
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Regulations, IIFL would be involved only in marketing of the Issue.
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The subscription list for the Issue shall remain open for subscription upto 5pm., with an option for early closure or extension by such period, upto a period of 30 days from the
date of opening of the Issue, as may be decided at the discretion of the duly authorised committee of Directors of our Company subject to necessary approvals. In the event of
such early closure of the Issue or extension of the Issue, our Company shall ensure that notice of such early closureor extension of the Issue is givenas the case may be on such
date of closure through advertisement/s in a leading national daily newspaper.
IDBI Trusteeship Services Ltd has by it letter dated August 22, 2013 given its consent for its appointment as Debenture Trustee to the Issue and for its name to be included in
the Prospectus and in all the subsequent periodical communications sent to the holders of the Debenture issued pursuant to this Issue
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Documents for Inspection” beginning on page 347 of the Prospectus.
INDIA INFOLINE FINANCE LIMITED
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IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
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IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
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IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
DETAILS PERTAINING TO THE ISSUE
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after the date of the Prospectus.
A. OBJECTS OF THE ISSUE
I. Issue Proceeds
The funds raised through this Issue, after meeting the expenditures
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the funds are being raised through the present Issue and also the
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II. Interim Use of Proceeds
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the purposes described above, our Company intends to temporarily invest
funds in high quality interest bearing liquid instruments including money
market mutual funds, deposits with banks or temporarily deploy the funds
in investment grade interest bearing securities as may be approved by
the Board. Such investment would be in accordance with the investment
policies approved by the Board or any committee thereof from time to
time.
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There is no requirement for appointment of a monitoring agency in terms
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with details, if any, in relation to all such proceeds of the Issue that have
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We propose to issue NCDs to NRIs on a non repatriable as well as
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(Borrowing and Lending in Rupees) Regulation, 2000 as amended from
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issued by RBI from time to time. To ensure compliance with the aforementioned, our Company shall open and maintain separate escrow accounts
(in case of non-ASBA Applications) and separate public issue accounts
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monies received from residents and non residents including eligible NRIs
on repatriation and non-repatriation basis, FII and QFIs. All Application
monies received from such resident and non-resident Applicants (in case
of non-ASBA Applications) shall be deposited in the respective escrow
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shall transfer the monies from the escrow accounts to the respective public
issue accounts. Similarly, upon creation of Security as disclosed in the
Trust Deed, Application money in ASBA Accounts shall be released to the
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monies kept in Non-Resident Public Issue Account shall be moved to a
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(Borrowing and Lending in Rupee) Regulation, 2000 and various rules,
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FIIs, QFIs and NRIs who intend to participate in the Issue must
comply with the laws, rules and regulations of the jurisdiction they
6
INDIA INFOLINE FINANCE LIMITED
are resident in and laws, rules and regulations to which they are
otherwise subject to in connection with the purchase and sale of NCDs.
No offer or sale of NCDs, pursuant to this Prospectus or otherwise,
is being made in the United States or any other jurisdiction where
it is unlawful to do so. Accordingly these materials are not directed
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to the NCDs if such subscription is in compliance with laws of all
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the Prospectus.
B. ISSUE PROCEDURE
I. Procedure for Application
1. Availability of Prospectus and Application Forms
Copies of the Abridged Prospectus containing the salient features of
this Prospectus together with Application Forms and the copies of this
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the SCSB and Trading members. Additionally this Prospectus, Abridged
Prospectus and the Application Form will be available for download on the
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com and www.smccapitals.com.
The prescribed colour of the Application Form for the Applicants is as
follows:
Category
Colour of the
Application Form
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White
Applicant
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as well as non-repatriation basis)
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along with cheques/drafts/payment instrument to the collecting banks. A
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the SCSBs.
Applicants are requested to note that in terms of the Debt Application
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application by investors to a public issue of debt securities with an online
payment facility (“Direct Online Application Mechanism”). In this regard,
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implementation of the Debt Application Circular and the Direct Online
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to put in necessary systems, infrastructure and processes in place so as
to enable the adoption of the Direct Online Application Circular prior to
the Issue Opening Date, we shall not offer eligible investors desirous of
applying in the Issue the option to make Applications through the Direct
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2. Who Can Apply :
The following categories of persons are eligible to apply in the Issue:
Category I
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including Sovereign Wealth Funds, Pension and Gratuity Funds registered
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‡ Public Financial Institutions, Statutory Corporations, Commercial Banks,
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
‡ Co-operative Banks and Regional Rural Banks, which are authorised to
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‡ Provident Funds, Pension Funds, Superannuation Funds and Gratuity Fund,
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‡ Venture Capital funds and / or Alternative Investment Funds registered
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Category II
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‡ Public/private charitable/religious trusts which are authorised to invest in
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‡ Limited liability partnerships formed and registered under the provisions
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Category III*
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*With respect to applications received from Category III applicants,
applications by applicants who apply for NCDs aggregating to a value
not more than ` 1.00 million, across all series of NCDs, (Option I and/
or Option II and/or Option III and/or Option IV), shall be grouped
together as Reserved Individual Portionwhile applications by applicants
who apply for NCDs aggregating to a value exceeding ` 1.00 million,
across all series of NCDs, (Option I and/or Option II and/or Option III
and/or Option IV), shall be separately grouped together as Unreserved
Individual Portion.
Note: Participation of any of the aforementioned categories of persons or
entities is subject to the applicable statutory and/ or regulatory requirements
in connection with the subscription to Indian securities by such categories
of persons or entities.
An Investor must ensure that in case it is a non resident including an
eligible FII, QFIs and NRI, it is not (i) based in the United States of
America (“USA”), and/or, (ii) domiciled in the USA, and/or, (iii) residents/
citizens of the USA, and/or, (iv) subject to any taxation laws of the USA.
3. Applications cannot be made by:
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‡ Persons ineligible to contract under applicable statutory/ regulatory
requirements.
* Applicant shall ensure that guardian is competent to contract under
Indian Contract Act, 1872
In case of Applications for Allotment of the NCDs in dematerialised form,
the Registrar shall verify the above on the basis of the records provided
by the Depositories based on the DP ID and Client ID provided by the
Applicants in the Application Form and uploaded onto the electronic
system of the Stock Exchanges by the Members of the Syndicate or the
Trading Members, as the case may be.
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can be held by them under applicable statutory and or regulatory
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in connection with applying for, subscribing to, or seeking allotment
of NCDs pursuant to the Issue.
The Lead Managers, Co-Lead Managers and their respective associates
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4. Any other Information
a) How to Apply?
Applicants may use any of the following facilities for making Applications:
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NCDs in physical form.For further details please refer to “Applications
for allotment of physical NCDs by Applicants who do not have a Demat
Account”RQSDJHRIWKH3URVSHFWXV
Please note that there is a single Application Form for ASBA as well
as non-ASBA Applicants who are Persons Resident in India. There is a
separate Application Form for non-resident Applicants (ASBA Applicants
and non-ASBA Applicants), including those who are eligible FIIs, QFIs
and NRIs applying for NCDs on repatriation or non-repatriation basis.
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5. Applications by Mutual Funds
No mutual fund scheme shall invest more than 15% of its NAV in debt
instruments issued by a single Company which are rated not below
investment grade by a credit rating agency authorised to carry out such
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the scheme with the prior approval of the Board of Trustees and the Board
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A separate application can be made in respect of each scheme of an
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scheme for which application is being made. In case of Applications made
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and containing operating instructions and (iii) specimen signatures of
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assigning any reason therefor.
6. Application by Scheduled Banks, Co-operative Banks and Regional
Rural Banks
Scheduled Banks, Co-operative Banks and Regional Rural Banks can apply
in this public issue based upon their own investment limits and approvals.
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with any other SEBI registered SCSB. Further, such account shall
be used solely for the purpose of making application in public issues
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ASBA applications.
Application by Insurance Companies
In case of Applications made by insurance companies registered with
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Authority must be lodged along with Application Form. The applications
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of Association (ii) Power of Attorney (iii) Resolution authorising investment
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any Application in whole or in part, in either case, without assigning any
reason therefor.
Applications by Alternative Investments Funds
Applications made by an Alternative Investments Fund eligible to invest
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Alternative Investment Funds applying for Allotment of the NCDs shall
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(Alternate Investment Funds) Regulations, 2012.
Applications by NRIs^^
Our Company proposes to issue NCDs to NRIs on a repatriable as well
as non-repatriable basis. The NRI Applicants should note that only such
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only shall be considered for Allotment. An NRI can apply for NCDs
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other applicable statutory and/or regulatory requirements including the
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NRI as described below:
In case of NRIs applying under repatriation basis: If it is received either
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banking channels i.e. through rupee denominated demand drafts/cheque
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RBI authorised dealer or a RBI authorised bank in India.
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normal banking channels i.e. through rupee denominated demand drafts/
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lending rate of the State Bank of India as on the date on which the
resolution approving the Issue was passed by our Board, plus 300 basis
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of receipt of remittance of consideration received from NRIs in connection
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a list containing names and addresses of each NRI Applicant who have
remitted funds for investment in the NCDs on non-repatriation basis and
repatriation basis,
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names and addresses of authorised dealers through whom the remittance
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and
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a list containing names and addresses of each NRI Allottee and number
of NCDs issued to each of them on non-repatriation basis and repatriation
basis, and
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Act, and rules and regulations made thereunder in connection with the
Issue of nonconvertible debentures have been duly complied with.
Applications by eligible NRIs (applying either on a repatriation or a
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of Indian Origin (“PIO”), a PIO card.
NRIs who intend to participate in the Issue must comply with the
laws, rules and regulations of the jurisdiction they are resident in and
laws, rules and regulations to which they are otherwise subject to in
connection with the purchase and sale of NCDs. No offer or sale of
NCDs, pursuant to this Prospectus or otherwise, is being made in the
United States or any other jurisdiction where it is unlawful to do so.
Accordingly these materials are not directed at or accessible by these
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subscription is in compliance with laws of all jurisdictions applicable
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Application by FIIs^^
An FII who purchases the NCDs under this Issue shall make the payment
for purchase of such securities either by inward remittance through normal
banking channels or out of funds held in Foreign Currency Account or
Non-resident Rupee Account maintained by such FII with a designated
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governing the same.
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basis, NCDs /non-convertible debentures issued by an Indian company
either directly from the issuer or through a registered stock broker on a
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of FIIs can now invest in primary issues of non-convertible debentures
(NCDs) only if listing of such NCDs is committed to be done in 15 days
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VXE DFFRXQWV RI ),,V DUH QRW OLVWHG RQ VWRFN H[FKDQJHV ZLWKLQ GD\V
of issuance for any reason, then the FII/ sub account shall immediately
dispose of these NCDs either by way of sale to a third party or to the
Issuer and the Issuer shall immediately redeem/ buyback the said securities
from the FIIs/ sub accounts of FIIs in such eventuality.
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
Further, FIIs investment into the present Issue will be restricted by various
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^^ The Issuer does not make any representations and does not guarantee
eligibility of any FII or Eligible NRI for investment into the Issue on
repatriation or non-repatriation basis. All FIIs and NRIs should verify their
eligibility and ensure compliance with all relevant and applicable RBI )(0$QRWL¿FDWLRQVDQGJXLGHOLQHVDVZHOODVDOOUHOHYDQWDQGDSSOLFDEOH
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to invest in the Issue at the stage of investment in every tranche, at the
time of remittance of their investment proceeds as well as at the time of
disposal of the NCDs; including but not limited to SEBI Circular dated
April 1, 2013 Bearing reference No: CIR/ IMD/FIIC/6/2013, SEBI Circular
dated February 8, 2013, bearing reference No. CIR/ IMD/FIIC/3/2013RBI
Circular dated January 24, 2013, bearing reference no. RBI/2012-13/391,
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Issue.
FIIs who intend to participate in the Issue must comply with the
laws, rules and regulations of the jurisdiction they are resident in and
laws, rules and regulations to which they are otherwise subject to in
connection with the purchase and sale of NCDs. No offer or sale of
NCDs, pursuant to this Prospectus or otherwise, is being made in the
United States or any other jurisdiction where it is unlawful to do so.
Accordingly these materials are not directed at or accessible by these
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subscription is in compliance with laws of all jurisdictions applicable
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11. Application by QFIs
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QFIs to invest in “to be listed” corporate NCDs of Indian companies directly
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NCDs of Indian companies, which are offered to the public in India in
accordance with the Companies Act, provided that, listing is committed
to be done within 15 days from such investment.
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lock-in or residual maturity clauses) and mutual fund schemes up to an
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LQFRUSRUDWHGHEW7KHVHOLPLWVDUHPRGL¿HGDQGDOORFDWHGLQWKHPDQQHU
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an AD category-I bank in India for routing the payment for transactions
relating to purchase and sale of corporate debt instruments (including
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may be prescribed by the RBI from time to time. This account shall be
funded by inward remittance through normal banking channels in any
permitted currency (freely convertible) and shall be operated by the QFIs
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with a QFIs DP for investment in eligible corporate debt instruments.
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are not permitted to issue off-shore derivative instruments or participatory
notes.
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if listing of such NCDs is committed to be done in 15 days of such
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QFI shall immediately dispose of these NCDs either by way of sale to
a third party or to the Issuer and the Issuer shall immediately redeem/
buyback the said securities from the QFI in such eventuality.
12.
13.
14.
15.
16.
17.
QFIs who intend to participate in the Issue must comply with the
laws, rules and regulations of the jurisdiction they are resident in and
laws, rules and regulations to which they are otherwise subject to in
connection with the purchase and sale of NCDs. No offer or sale of
NCDs, pursuant to this Prospectus or otherwise, is being made in the
United States or any other jurisdiction where it is unlawful to do so.
Accordingly these materials are not directed at or accessible by these
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subscription is in compliance with laws of all jurisdictions applicable
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Applications by Trusts
In case of Applications made by trusts, settled under the Indian Trusts
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copy of the registered instrument for creation of such trust, (ii) Power
of Attorney, if any, in favour of one or more trustees thereof, (iii) such
other documents evidencing registration thereof under applicable statutory/
regulatory requirements. Further, any trusts applying for NCDs pursuant
to the Issue must ensure that (a) they are authorised under applicable
statutory/regulatory requirements and their constitution instrument to hold
and invest in debentures, (b) they have obtained all necessary approvals,
consents or other authorisations, which may be required under applicable
statutory and/or regulatory requirements to invest in debentures, and
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statutory and or regulatory provisions. Failing this, our Company reserves
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case, without assigning any reason therefor.
Applications by Public Financial Institutions, Statutory Corporations,
which are authorized to invest in the NCDs
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Applications by companies, bodies corporate and societies registered
under the applicable laws in India
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authorized to invest in the NCDs
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the partners and Limited Liability Partnerships formed and registered
under the provisions of the Limited Liability Partnership Act, 2008 (No.
6 of 2009)
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Applications under Power of Attorney
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laws must be lodged along with the Application Form, failing this, our
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or in part, in either case, without assigning any reason therefor.
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must be lodged along with the Application Form.
INDIA INFOLINE FINANCE LIMITED
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the Application Form subject to such terms and conditions that our
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Application for Allotment of Debt Securities in Physical Form
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Applications for allotment of physical NCDs by Applicants who do not
have a Demat Account
All Applicants who do not have a Demat Account and intend to apply for
NCDs in physical form (other than non-resident Investors), should submit
the Application Forms duly completed in all respects, by providing all the
information including PAN and Demographic Details and accompanied by
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including a co-operative bank and is member or sub-member of the
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Form is submitted, i.e. where the designated collection centres of the
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on banks not participating in the clearing process will not be accepted
and applications accompanied by such cheques or bank drafts are liable
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allowed as the same has been discontinued by the RBI vide QRWL¿FDWLRQ
No.DBOD.NO.FSC.BC. 42/24.47.001/2003-04 dated November 5, 2003.
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payment is effected in contravention of conditions mentioned herein, the
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and no interest will be paid thereon. A separate cheque / bank draft must
accompany each Application Form. No cash payments shall be accepted.
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“A/c Payee only” and (a) all cheques / bank drafts accompanying the
applications made by eligible applicants must be made payable to “India
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of residence:
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d. Copy of a cancelled cheque of the bank account to which the amounts
pertaining to payment of refunds, interest and redemption, as applicable,
should be credited.
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they donot hold any Demat account in India.
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details of the Applicant that is required for the purpose of allotment based
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shall thereafter submit the physical Application Form (duly stamped by
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Collecting Bank(s).
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cities/ towns where the banking branches (escrow banks) are available.
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com/rrfcl.com, www.karvy.com and www.smccapitals.com. A link to the
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at www.nseindia.com and www.bseindia.com, respectively.
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by a Non ASBA applicant shall be deposited by the Members of the
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co.in and www.idbicapital.com and the Co-Lead Managers at www.
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Application Form as well.
19. Applications for allotment of NCDs in dematerialised form
a. Payment mechanism for non-ASBA Applicants
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Bank. Outstation cheques /bank drafts drawn on banks not participating in
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would also not be allowed as the same has been discontinued by the RBI
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not be accepted. In case payment is effected in contravention of conditions
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money will be refunded and no interest will be paid thereon. A separate
cheque / bank draft must accompany each Application Form. No cash
payments shall be accepted.
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
All cheques / bank drafts accompanying the application should be crossed
“A/c Payee only” and (a) all cheques / bank drafts accompanying the
applications made by eligible applicants must be made payable to escrow
accounts mentioned below.
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nor the Registrar shall be responsible for redressal of any grievances that
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in connection with all Application monies received from residents and
non-residents including eligible NRIs on repatriation and non-repatriation
basis, FIIs and QFIs, in whose favour the non-ASBA Applicants, applying
through cheques shall make out the cheque or demand draft in respect of
their Application.
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demand draft for the Application Amount as per the following terms:
i. All Applicants would be required to pay the full Application Amount at
the time of the submission of the Application Form other than ASBA
Applicants.
ii. The Applicants shall, with the submission of the Application Form, draw
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Accounts and submit the same along with their Application. If the payment
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by cash, stock invest, money order or postal order will not be accepted.
iii. The payment instruments from the resident Applicants shall be payable
LQWRWKH(VFURZ$FFRXQWGUDZQLQIDYRXURI³IIFL – NCD Escrow - R”.
iv. The payment instruments from eligible Non Resident Applicants including
NRIs on repatriation and non-repatriation basis, FIIs and QFIs shall be
SD\DEOHLQWKH1RQ5HVLGHQW(VFURZ$FFRXQWVGUDZQLQIDYRXURI³IIFL
– NCD Escrow – NR - Repatriable” and “IIFL – NCD Escrow – NR
– Non-Repatriable”.
Payments should be made by cheque, or a demand draft drawn on any
bank (including a cooperative bank), which is situated at cities where
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RI WKH /HDG 0DQDJHUV DQG &R/HDG 0DQDJHUV LV VLWXDWHG 2XWVWDWLRQ
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to ensure that non-resident applications received in the Issue are on a
repatriation or non-repatriation basis, prior to realisation of payment
instruments in the relevant non-resident escrow/ public issue accounts.
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along with the cheque/ demand draft submitted by a Non ASBA applicant
VKDOOEHGHSRVLWHGE\WKH0HPEHUVRIWKH6\QGLFDWHDQG7UDGLQJ0HPEHUV
DUHDYDLODEOHRQWKHZHEVLWHVRIWKH/HDG0DQDJHUVDWZZZD[LVFDSFRP
ZZZLGELFDSLWDOFRPZZZWUXVWJURXSFRLQDQGZZZLLÀFDSFRPDQGWKH
&R/HDG0DQDJHUVDWZZZUU¿QDQFHFRPUUIFOFRPZZZNDUY\FRPDQG
www.smccapitals.com. A link to the said web pages shall also be available
RQWKHZHEVLWHRI16(DQG%6(DWZZZQVHLQGLDFRPDQGZZZEVHLQGLD
com, respectively. A link shall also be provided to the above mentioned
websites in the Application Form as well.
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Collection Bank(s) shall transfer the monies from the escrow accounts
to separate bank accounts i.e. the respective public issue accounts. Our
Company shall at all times ensure that any monies kept in the Non Resident
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utilised only in accordance with applicable statutory and/or regulatory
requirements.
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the Public Issue Account once listing/ trading approvals are received from
6WRFN ([FKDQJHV XSRQ UHFHLSW RI LQVWUXFWLRQV IURP WKH /HDG 0DQDJHUV
DQG&R/HDG0DQDJHUVDVSURYLGHGIRULQWKH(VFURZ$JUHHPHQW
7KHEDODQFHDPRXQWLQWKH(VFURZ$FFRXQWVDIWHUWUDQVIHUWRWKH3XEOLF
Issue Account shall be transferred to the Refund Account. Payments of
refund and interest on Application Amount to the relevant Applicants shall
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Agreement and this Prospectus.
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lien whatsoever over the monies deposited therein.
For instructions pertaining to completing Application Form please see
“Issue Procedure-Instructions for completing the Application Form”on
page 293 of the Prospectus.
b. Payment mechanism for ASBA Applicants
i. 3URFHGXUHIRU$SSOLFDWLRQWKURXJKWKH0HPEHUVRIWKH6\QGLFDWH7UDGLQJ
Members of the Stock Exchanges using the Applications Supported by
Blocked Amount (“ASBA”) facility and Applications through SCSBs
using ASBA facility
This section is for the information of the Applicants proposing to subscribe
to the Issue through the ASBA Process (“$6%$,QYHVWRUV”). Please note
that application through ASBA is optional for all categories of Resident
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laws or regulations, which may occur after the date of this Prospectus.
ASBA Investors are advised to make their independent investigations and
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Our Company, Lead Managers, Co-Lead Managers,Lead Brokers,our
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and the Registrar to the Issue shall not take any responsibility for
acts, mistakes, errors, omissions and commissions etc. in relation to
applications accepted by SCSBs, Applications uploaded by SCSBs,
applications accepted but not uploaded by SCSBs or applications
accepted and uploaded without blocking funds in the ASBA Accounts.
It shall be presumed that for applications uploaded by SCSBs, the
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Account.
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for the ASBA Process is provided on http://www.sebi.gov.in/sebiweb/
home/list/5/33/0/0/Recognised-Intermediaries. For details on Designated
Branches of SCSBs collecting the Application Form, please refer the above
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clause 6 of Circular dated October 4, 2012 and updated on a regular
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the ASBA forms.
ASBA Applicants applying through a member of the Syndicate should
ensure that the Application Form is submitted to a member of the
Syndicate. ASBA Applicants should also ensure that Application Forms
submitted to the Syndicate will not be accepted if the SCSB where the
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not named at least one branch at that location for the Syndicate to deposit
the Application Form from ASBA Applicants (A list of such branches is
available at http://www.sebi.gov.in/sebiweb/home/list/5/33/0/0/RecognisedIntermediaries). ASBA Applicants Applying directly through the SCSBs
should ensure that the Application Form is submitted to a Designated
Branch, of a SCSB where the ASBA Account is maintained (A list of such
branches is available at http://www.sebi.gov.in/sebiweb/home/list/5/33/0/0/
Recognised-Intermediaries).
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in physical Application Form will have to select the ASBA mechanism in
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INDIA INFOLINE FINANCE LIMITED
11
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
Applicants applying under the ASBA Process should note that on the
Form containing instructions to SCSB to block the Application Amount
basis of name of these Applicants, Depository Participant’s name and
shall be submitted to the designated branches of the SCSBs. The ASBA
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them in the Application Form, the Registrar to the Issue will obtain
WKH 6\QGLFDWH$6%$ &HQWUHV RU ZLWK WKH7UDGLQJ 0HPEHUV RI WKH 6WRFN
from the Depository demographic details of these Applicants such
([FKDQJHVDWWKH6\QGLFDWH$6%$&HQWUHVZKRVKDOOLQWXUQIRUZDUGWKH
DV 3$1 DGGUHVV IRU SULQWLQJ RQ $OORWPHQW DGYLFH DQG RFFXSDWLRQ
VDPH WR WKH 6&6%V LQ DFFRUGDQFH ZLWK WKH FLUFXODUV LVVXHG E\ 6(%, LQ
(“Demographic Details”). Hence, Applicants applying under the ASBA
WKLV UHJDUG IURP WLPH WR WLPH 7KH 0HPEHUV RI 6\QGLFDWH DQG 7UDGLQJ
3URFHVVVKRXOGFDUHIXOO\¿OOLQWKHLU'HSRVLWRU\$FFRXQWGHWDLOVLQWKH
0HPEHUV RI WKH 6WRFN ([FKDQJH VKDOO DFFHSW $6%$ $SSOLFDWLRQV RQO\
Application Form.
at the Syndicate ASBA Centres and should ensure that they verify the
details about the ASBA Account and relevant SCSB prior to accepting
These Demographic Details would be used for all correspondence with
the Application Form.
such Applicants including mailing of the letters intimating unblocking
of their respective ASBA Accounts. The Demographic Details given by
Care should be taken that such Application Forms should bear the stamp
the Applicants in the Application Form would not be used for any other
RIWKHUHOHYDQW6&6%0HPEHUVRIWKH6\QGLFDWHRUWUDGLQJPHPEHUVRI
SXUSRVHVE\WKH5HJLVWUDU+HQFH$SSOLFDQWVDUHDGYLVHGWRXSGDWHWKHLU
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Demographic Details as provided to their Depository Participants.
ASBA Application in electronic mode will only be available with such
By signing the Application Forms, the Applicants applying under the ASBA
SCSBs who provide such facility. In case of application in such electronic
Process would be deemed to have authorised the Depositories to provide,
form, the ASBA Applicant shall submit the Application Form with
upon request, to the Registrar to the Issue, the required Demographic
instruction to block the Application amount either through the internet
Details as available on its records.
banking facility available with the SCSB, or such other electronically
enabled mechanism for applying and blocking funds in the ASBA Account
Letters intimating Allotment and unblocking the funds would be mailed
held with SCSB, as would be made available by the concerned SCSB.
at the address of the ASBA Applicant as per the Demographic Details
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$SSOLFDWLRQVDUHOLDEOHWREHUHMHFWHGZKHUHLQWKH6&6%VDUHQRWDEOHWR
instructions to the SCSBs for unblocking funds in the ASBA Account
block the funds for Application Forms which have been uploaded by the
to the extent NCDs are not allotted to such ASBA Applicants. ASBA
0HPEHU RI WKH 6\QGLFDWH RU 7UDGLQJ 0HPEHUV RI WKH 6WRFN ([FKDQJH
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due to any reason.
of the funds may get delayed if the same once sent to the address
Mode of payment -The Applicant applying under the ASBA Process agrees
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to block the entire amount payable on application with the submission
Note that any such delay shall be at the sole risk of the ASBA Applicants
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and none of us, the SCSBs, the Members of the Syndicate or Trading
equivalent to the amount payable on application, in an ASBA Account.
Member shall be liable to compensate the Applicant applying under
After verifying that sufficient funds are available in the ASBA
the ASBA Process for any losses caused due to any such delay or
Account,details of which are provided in the Application Form or through
liable to pay any interest for such delay.
which the Application is being made in case of electronic ASBA Application,
In case no corresponding record is available with the Depositories that
the SCSB shall block an amount equivalent to the amount payable on
matches three parameters, (a) Client ID, (b) the DP ID and (c) the PAN
application mentioned in the Application Form until it receives instructions
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IURP WKH 5HJLVWUDU 8SRQ UHFHLSW RI LQWLPDWLRQ IURP WKH 5HJLVWUDU WKH
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the ASBA Account. This amount will be transferred into the Public Issue
of the Stock Exchanges through Collecting Banks without using ASBA
Account maintained by us as per the provisions of section 73(3) of the
Facility
Companies Act. The balance amount remaining blocked in the ASBA
All Application Forms, either in physical or downloaded Application Forms,
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duly completed and accompanied by account payee cheques / drafts shall
unblocked by the SCSBs on the basis of the instructions issued in this
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UHJDUG E\ WKH 5HJLVWUDU WR WKH ,VVXH WKH /HDG 0DQDJHUV DQG &R/HDG
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Non-ASBA Applications, shall upload all the details of the applications
Application Form if the ASBA Account with the SCSB, details of which
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have been provided by the Applicant in the Application Form, does not
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a timely manner so that the details can be uploaded by the closure of
mentioned in the Application Form. Subsequent to the acceptance of the
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till 5.00 p.m. (Indian Standard Time) during the Issue Period, following
application on any of the technical grounds.
which they shall acknowledge the uploading of the Application Form by
stamping the acknowledgment slip with the date and time and returning
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unsuccessful Application Forms, the Registrar shall give instructions to the
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SCSB to unblock the application money in the relevant ASBA Account
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within twelve (12) Working Days of receipt of such instruction. There
will be no interest paid on any such refunds.
19A.Direct Online Application Mechanism
ii. Depository account and bank details for Applicants applying under the
Applicants are requested to note that in terms of the Debt Application
ASBA Process
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IT IS MANDATORY FOR ALL THE APPLICANTS APPLYING
application by investors to a public issue of debt securities with an online
UNDER THE ASBA PROCESS TO RECEIVE THEIR NCDs IN
payment facility (“Direct Online Application Mechanism”). In this regard,
DEMATERIALISED FORM. ALL APPLICANTS APPLYING UNDER
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THE ASBA PROCESS SHOULD MENTION THEIR DEPOSITORY
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PARTICIPANT’S NAME, PAN DETAILS, DEPOSITORY
implementation of the Debt Application Circular and the Direct Online
PARTICIPANT IDENTIFICATION NUMBER AND BENEFICIARY
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ACCOUNT NUMBER IN THE APPLICATION FORM.
12
INDIA INFOLINE FINANCE LIMITED
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
to put in necessary systems, infrastructure and processes in place so as
to enable the adoption of the Direct Online Application Circular prior to
the Issue Opening Date, we shall not offer eligible investors desirous of
applying in the Issue the option to make Applications through the Direct
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III. INSTRUCTIONS FOR FILLING UP APPLICATION FORM
20. General Instructions
i. Instructions for completing the Application Form
Submission of Application Form (Non-ASBA)
‡ $SSOLFDWLRQVWREHPDGHLQSUHVFULEHGIRUPRQO\
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LQ WKH $SSOLFDWLRQV IRU VHHNLQJ DOORWPHQW RI 1&'V LQ GHPDWHULDOL]HG
mode are correct, as allotment of NCDs to these Applicants will be in
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‡ Information provided by the Applicants in the Application Form will be
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be, and the electronic data will be used to make allocation/ Allotment.
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‡ $SSOLFDWLRQV VKRXOG EH PDGH E\ .DUWD LQ FDVH RI +8) 3OHDVH HQVXUH
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‡ Applicants (other than those resident Investors applying for Allotment of
NCDs in physical form) should correctly mention their DP ID and Client
ID in the Application Form. For the purpose of evaluating the validity
of Applications, the Demographic Details of Applicants shall be derived
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‡ Applicants (other than non-resident Investors) applying for Allotment of
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‡ All applicants are required to tick the relevant column of “Category of
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Application” in the Application Form choosing either ASBA or Non-ASBA
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ASBA mechanism) duly completed together with cheque/bank draft for the
amount payable on application must be delivered before the closing of the
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‡ All Applicants applying through Non-ASBA mechanism shall mention the
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‡ 1RUHFHLSWZLOOEHLVVXHGIRUWKHDSSOLFDWLRQPRQH\+RZHYHU%DQNHUVWR
the Issue and/or their branches receiving the applications will acknowledge
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Form. Where the applicants have not indicated their choice of the relevant
Series of NCDs, the Company shall allot Option IV NCDs to all valid
applications.
Further Instructions for ASBA Applicants
‡ ASBA Applicants should correctly mention the ASBA Account number
and ensure that funds equal to the Application Amount are available in the
ASBA Account before submitting the Application Form to the Designated
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‡ If the ASBA Account holder is different from the ASBA Applicant, the
Application Form should be signed by the ASBA Account holder, in
accordance with the instructions provided in the Application Form. Not
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‡ For ASBA Applicants, the Applications in physical mode should be
submitted to the SCSBs or a member of the Syndicate or to the Trading
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SCSBs may provide the electronic mode for making application either
through an internet enabled banking facility or such other secured,
electronically enabled mechanism for application and blocking funds in
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ALL APPLICATIONS BY CATEGORY I APPLICANTS SHALL
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AFFILIATES.
All Applicants should apply for one or more option of NCDs in a single
Application Form only.
Our Company would allot Option IV NCDs to all valid applications,
wherein the applicants have not indicated their choice of NCDs.
To supplement the foregoing, the mode and manner of Application and
submission of Application Forms is illustrated in the following chart.
Mode of
Application
ASBA
Applications
To whom the Application Form has to be submitted
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ii. to the Designated Branches of the SCSBs where the ASBA Account
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Locations.
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Applications ii. WR7UDGLQJ0HPEHUV
ii. Terms of Payment
The face value for the NCDs is payable on application only. In case of
allotment of lesser number of NCDs than the number applied, our Company
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21. Do’s and Don’t’s
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of such designated branches is available at http://www.sebi.gov.in/sebiweb/
home/list/5/33/0/0/Recognised-Intermediaries. ASBA Applicants Applying
directly through the SCSBs should ensure that the Application Form is
submitted to a Designated Branch, of a SCSB where the ASBA Account
is maintained (A list of such branches is available at http://www.sebi.gov.
in/sebiweb/home/list/5/33/0/0/RecognisedIntermediaries).
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in the ASBA Account before submitting the Application Form to the
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collecting such Application Forms in the location where the Application
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2013, in case of an SCSB making an ASBA Application, such ASBA
Application should be made through an ASBA Account utilised solely for
the purpose of applying in public issues and maintained in the name of
such SCSB Applicant with a different SCSB, wherein clear demarcated
funds are available.
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be, for the submission of the Application Form.
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of NCDs that can be held under the applicable laws or regulations or
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instructions
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22. Other Instructions
i. Joint Applications
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named applicant whose name appears in the Application Form and at the
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An applicant is allowed to make one or more applications for the NCDs for
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of ` 5,000 and in multiples of ` 1,000 thereafter, for each application. Any
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any application made by any person in his individual capacity and an
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multiple application but for the purpose of deciding whether the applicant
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Individual Portion, two or more applications, as above, will be clubbed
together.
For the purposes of allotment of NCDs under the Issue, applications shall be
grouped based on the PAN, i.e. applications under the same PAN shall be
grouped together and treated as one application. Two or more applications
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one and the same. For the sake of clarity, two or more applications shall
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Depository Arrangements
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of our Company can be made in both dematerialised form (i.e. not in the
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Statement issued through electronic mode) as well as physical form.
We have made depository arrangements with NSDL and CDSL for issue
and holding of the NCDs in dematerialised form. Please note that tripartite
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both the depositories.
As per the provisions of the Depositories Act, 1996, the NCDs issued by
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7ULSDUWLWH$JUHHPHQW GDWHG 1RYHPEHU DQG 'HFHPEHU between us, the Registrar to the Issue and CDSL and NSDL, respectively
for offering depository option to the investors,
An applicant who wishes to apply for NCDs in the electronic form must
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(DPs) of NSDL or CDSL prior to making the application,
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For subscription in electronic form, names in the Application Form should
be identical to those appearing in the account details in the depository.
Non-transferable Allotment Advice/refund orders will be directly sent to
the applicant by the Registrars to this Issue,
If incomplete/incorrect details are given in the Application Form, it will
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For allotment of NCDs in electronic form, the address, nomination details
and other details of the applicant as registered with his/her DP shall be
used for all correspondence with the applicant. The applicant is therefore
responsible for the correctness of his/her demographic details given in the
Application Form vis-à-vis those with his/her DP. In case the information
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if any,
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in dematerialised form would be paid to those NCD holders whose names
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LY Communications
a. All future Communications in connection with Applications made in the
Issue should be addressed to the Registrar to the Issue quoting all relevant
details as regards the applicant and its application.
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Pre-Issue related problems. In case of Post-Issue related problems such
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or Registrar to the Issue.
IV. PAYMENT INSTRUCTIONS
23. Payment Mechanism for Non-ASBA Applicants
The cheque/bank draft can be drawn on any bank, including a cooperative bank which is situated at and is member or sub-member of the
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Bank. Outstation cheques /bank drafts drawn on banks not participating in
the clearing process will not be accepted and applications accompanied by
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would also not be allowed as the same has been discontinued by the RBI
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not be accepted. In case payment is effected in contravention of conditions
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money will be refunded and no interest will be paid thereon. A separate
cheque / bank draft must accompany each Application Form. No cash
payments shall be accepted.
All cheques / bank drafts accompanying the application should be crossed
“A/c Payee only” and (a) all cheques / bank drafts accompanying the
applications made by eligible applicants must be made payable to “IIFL
- NCD Escrow - R”.
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nor the Registrar shall be responsible for redressal of any grievances that
Applicants may have in regard to the non-ASBA Applications made to the
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in connection with all Application monies received from residents and
non-residents including eligible NRIs on repatriation and non-repatriation
basis, FIIs and QFIs, in whose favour the non-ASBA Applicants, applying
through cheques shall make out the cheque or demand draft in respect of
their Application.
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demand draft for the Application Amount as per the following terms:
a) All Applicants would be required to pay the full Application Amount at
the time of the submission of the Application Form other than ASBA
Applicants.
b) The Applicants shall, with the submission of the Application Form, draw
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Accounts and submit the same along with their Application. If the payment
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by cash, stock invest, money order or postal order will not be accepted.
INDIA INFOLINE FINANCE LIMITED
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IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
c) The payment instruments from the resident Applicants shall be payable
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d) The payment instruments from eligible Non Resident Applicants including
NRIs on repatriation and non-repatriation basis, FIIs and QFIs shall be SD\DEOHLQWKH1RQ5HVLGHQW(VFURZ$FFRXQWVGUDZQLQIDYRXURI³,,)/
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Non-Repatriable”.
Payments should be made by cheque, or a demand draft drawn on any
bank (including a cooperativebank), which is situated at cities where
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to ensure that non-resident applications received in the Issue are on a
repatriation or non-repatriation basis, prior to realisation of payment
instruments in the relevant non-resident escrow/ public issue accounts.
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along with the cheque/ demand draft submitted by a Non ASBA applicant
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www.smccapitals.com. A link to the said web pages shall also be available
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com, respectively. A link shall also be provided to the above mentioned
websites in the Application Form as well.
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Collection Bank(s) shall transfer the monies from the escrow accounts
to separate bank accounts i.e. the respective public issue accounts. Our
Company shall at all times ensure that any monies kept in the Non Resident
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utilised only in accordance with applicable statutory and/or regulatory
requirements.
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the Public Issue Account once listing/ trading approvals are received from
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Issue Account shall be transferred to the Refund Account. Payments of
refund and interest on Application Amount to the relevant Applicants shall
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Agreement and this Prospectus.
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lien whatsoever over the monies deposited therein.
24. Mode of Payment for ASBA Applicants
The Applicant applying under the ASBA Process agrees to block the entire
amount payable on application with the submission of the Application
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amount payable on application, in an ASBA Account.
After verifying that sufficient funds are available in the ASBA
Account,details of which are provided in the Application Form or through
which the Application is being made in case of electronic ASBA Application,
the SCSB shall block an amount equivalent to the amount payable on
application mentioned in the Application Form until it receives instructions
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the ASBA Account. This amount will be transferred into the Public Issue 25.
Account maintained by us as per the provisions of section 73(3) of the
Companies Act. The balance amount remaining blocked in the ASBA
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unblocked by the SCSBs on the basis of the instructions issued in this
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Application Form if the ASBA Account with the SCSB, details of which
have been provided by the Applicant in the Application Form, does not
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mentioned in the Application Form. Subsequent to the acceptance of the
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application on any of the technical grounds.
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unsuccessful Application Forms, the Registrar shall give instructions to the
SCSB to unblock the application money in the relevant ASBA Account
within twelve (12) Working Days of receipt of such instruction. There
will be no interest paid on any such refunds.
Depository account and bank details for Applicants applying under the
ASBA Process
IT IS MANDATORY FOR ALL THE APPLICANTS APPLYING
UNDER THE ASBA PROCESS TO RECEIVE THEIR NCDs IN
DEMATERIALISED FORM. ALL APPLICANTS APPLYING UNDER
THE ASBA PROCESS SHOULD MENTION THEIR DEPOSITORY
PARTICIPANT’S NAME, PAN DETAILS, DEPOSITORY
PARTICIPANT IDENTIFICATION NUMBER AND BENEFICIARY
ACCOUNT NUMBER IN THE APPLICATION FORM.
Applicants applying under the ASBA Process should note that on the
basis of name of these Applicants, Depository Participant’s name and
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them in the Application Form, the Registrar to the Issue will obtain
from the Depository demographic details of these Applicants such
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(“Demographic Details”). Hence, Applicants applying under the ASBA
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Application Form.
These Demographic Details would be used for all correspondence with
such Applicants including mailing of the letters intimating unblocking
of their respective ASBA Accounts. The Demographic Details given by
the Applicants in the Application Form would not be used for any other
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Demographic Details as provided to their Depository Participants.
By signing the Application Forms, the Applicants applying under the ASBA
Processwould be deemed to have authorised the Depositories to provide,
upon request, to the Registrar to the Issue, the required Demographic
Details as available on its records.
Letters intimating Allotment and unblocking the funds would be mailed
at the address of the ASBA Applicant as per the Demographic Details
UHFHLYHG IURP WKH 'HSRVLWRULHV 7KH 5HJLVWUDU WR WKH ,VVXH ZLOO JLYH
instructions to the SCSBs for unblocking funds in the ASBA Account
to the extent NCDs are not allotted to such ASBA Applicants. ASBA
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of the funds may get delayed if the same once sent to the address
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Note that any such delay shall be at the sole risk of the ASBA Applicants
and none of us, the SCSBs, the Members of the Syndicate or Trading
Member shall be liable to compensate the Applicant applying under
the ASBA Process for any losses caused due to any such delay or
liable to pay any interest for such delay.
In case no corresponding record is available with the Depositories that
matches three parameters, (a) Client ID, (b) the DP ID and (c) the PAN
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Direct Online Application Mechanism
Applicants are requested to note that in terms of the Debt Application
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IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
application by investors to a public issue of debt securities with an online
payment facility (“Direct Online Application Mechanism”). In this regard,
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implementation of the Debt Application Circular and the Direct Online
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to put in necessary systems, infrastructure and processes in place so as
to enable the adoption of the Direct Online Application Circular prior to
the Issue Opening Date, we shall not offer eligible investors desirous of
applying in the Issue the option to make Applications through the Direct
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V. Submission Of Application Forms
26. Submission Of Application Form (Non-ASBA)
General Instructions
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mode are correct, as allotment of NCDs to these Applicants will be in
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‡ Information provided by the Applicants in the Application Form will be
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be, and the electronic data will be used to make allocation/ Allotment.
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‡ Applicants (other than those resident Investors applying for Allotment of
NCDs in physical form) should correctly mention their DP ID and Client
ID in the Application Form. For the purpose of evaluating the validity
of Applications, the Demographic Details of Applicants shall be derived
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‡ All applicants are required to tick the relevant column of “Category of
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Application” in the Application Form choosing either ASBA or Non-ASBA
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ASBA mechanism) duly completed together with cheque/bank draft for the
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the Issue and/or their branches receiving the applications will acknowledge
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Form. Where the applicants have not indicated their choice of the relevant
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Series of NCDs, the Company shall allot Option IV NCDs to all valid
applications.
Further Instructions for ASBA Applicants
ASBA Applicants should correctly mention the ASBA Account number
and ensure that funds equal to the Application Amount are available in the
ASBA Account before submitting the Application Form to the Designated
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If the ASBA Account holder is different from the ASBA Applicant, the
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accordance with the instructions provided in the Application Form. Not
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For ASBA Applicants, the Applications in physical mode should be
submitted to the SCSBs or a member of the Syndicate or to the Trading
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SCSBs may provide the electronic mode for making application either
through an internet enabled banking facility or such other secured,
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ALL APPLICATIONS BY CATEGORY I APPLICANTS SHALL
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AFFILIATES.
All Applicants should apply for one or more option of NCDs in a single
Application Form only.
Our Company would allot Option IV NCDs to all valid applications,
wherein the applicants have not indicated their choice of NCDs.
To supplement the foregoing, the mode and manner of Application and
submission of Application Forms is illustrated in the following chart.
Mode of
Application
ASBA
Applications
To whom the Application Form has to be submitted
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VI. Rejection of Applications
The Board of Directors and/or any committee of our Company reserves its
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whole or in part and in either case without assigning any reason thereof.
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but not restricted to:
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sequence as they appear in the records of the depository), signature of
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‡ Applications submitted without payment of the entire Application Amount.
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‡ Date of Birth for First/ Sole Applicant for persons applying for allotment
of NCDs in physical form not mentioned in the Application Form (not
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INDIA INFOLINE FINANCE LIMITED
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IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
‡ Application by persons not competent to contract under the Indian Contract
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is received from an account other than Non-resident Ordinary (NRO)/ any
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Application Forms not delivered by the applicant within the time prescribed
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Applications by persons who are not eligible to acquire NCDs of our
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‡ Applications by Applicants whose demat accounts have been ‘suspended
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Kindly note that The ASBA Applications being submitted with the
Member of the Syndicate or with the Trading Members of the Stock
Exchanges should be submitted at the Syndicate ASBA Centres.
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or Trading Members of the Stock Exchange will not be accepted if
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Form, is maintained has not named at least one Designated Branch
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For further instructions regarding application for the NCDs, investors are
requested to read the Application Form.
29. Investor Withdrawals and Pre-closure
Investor Withdrawal: Applicants are allowed to withdraw their applications
at any time prior to the closure of the Issue.
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NCDs aggregating to75% of the Base Issue. Our Company shall allot NCDs
with respect to the applications received at the time of such pre-closure
in accordance with the Basis of Allotment as described hereinabove and
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of the Prospectus.
C. Terms of the Issue
30. Principal Terms & Conditions of this Issue
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Company, the terms of this Prospectus, the Application Forms, the terms and
conditions of the Debenture Trust Agreement and the Debenture Trust Deed,
other applicable statutory and/or regulatory requirements including those issued
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or other statutory/regulatory authorities relating to the offer, issue and listing
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the NCDs.
31. Ranking of NCDs
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or regulatory requirements, shall also, with regard to the amount invested, be
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and receivables, both present and future. The NCDs proposed to be issued under
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IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
Company having corresponding assets as security, shall rank paripassu without
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and/or consents for creation of a paripassu charge on the current assets, book
debts, loans and advances, and receivables including gold loan receivables,
both present and future as stated above, have been obtained from all relevant
FUHGLWRUVOHQGHUVDQGGHEHQWXUHWUXVWHHVRIRXU&RPSDQ\ZKRKDYHDQH[LVWLQJ
charge over the above mentioned assets.
32. Debenture Redemption Reserve
Section 117C of the Act states that any company that intends to issue debentures
must create a DRR to which adequate amounts shall be credited out of the
SUR¿WVRIRXU&RPSDQ\XQWLOWKHUHGHPSWLRQRIWKHGHEHQWXUHV7KH0LQLVWU\RI
&RUSRUDWH$IIDLUVKDVWKURXJKLWVFLUFXODUGDWHG$SULO³Circular”),
VSHFL¿HGWKDWWKHTXDQWXPRI'55WREHFUHDWHGEHIRUHWKHUHGHPSWLRQOLDELOLW\
actually arises in normal circumstances should be ‘adequate¶WRSD\WKHYDOXHRI
the debentures plus accrued interest/ Redemption amount, (if not already paid),
till the debentures are redeemed and cancelled. The limits provided under the
said Circular has undergone revision vide0LQLVWU\RI&RPSDQ\$IIDLUV*HQHUDO
Circular No. 4/2013 No. 11/02/2012-CL-V(A) dated February 11, 2013 which
VSHFL¿HVWKDW1%)&VOLNHRXU&RPSDQ\1%)&VZKLFKDUHUHJLVWHUHGZLWKWKH
5%,XQGHU6HFWLRQ,$RIWKH5%,$FWVKDOOFUHDWH'55WRWKHH[WHQWRI
per cent of the value of the debentures issued through public issue. Accordingly
our Company is required to create a DRR of 25% of the value of debentures
LVVXHGWKURXJKWKHSXEOLFLVVXH$VIXUWKHUFODUL¿HGE\WKH&LUFXODUWKHDPRXQW
WREHFUHGLWHGDV'55ZLOOEHFDUYHGRXWRIWKHSUR¿WVRIRXU&RPSDQ\RQO\
LIWKHUHLVSUR¿WIRUWKHSDUWLFXODU\HDUDQGWKHUHLVQRREOLJDWLRQRQWKHSDUW
RIRXU&RPSDQ\WRFUHDWH'55LIWKHUHLVQRSUR¿WIRUWKHSDUWLFXODU\HDU2XU
&RPSDQ\VKDOOFUHGLWDGHTXDWHDPRXQWVWR'55IURPLWVSUR¿WVHYHU\\HDUXQWLO
such NCDs are redeemed.
7KH 0LQLVWU\ RI &RPSDQ\ $IIDLUV *HQHUDO &LUFXODU 1R 1R
11/02/2012-CL-V(A) dated February 11, 2013 further provides that every
company required to create/maintain DRR shall before the 30th day of April
RIHDFK\HDUGHSRVLWRULQYHVWDVWKHFDVHPD\EHDVXPZKLFKVKDOOQRWEH
OHVVWKDQ¿IWHHQSHUFHQWRIWKHDPRXQWRILWVGHEHQWXUHVPDWXULQJGXULQJWKH
\HDUHQGLQJRQWKHVWGD\RI0DUFKQH[WIROORZLQJLQDQ\RQHRUPRUHRIWKH
following methods, namely
33. Authority for the Issue
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of the Act, the Board has been authorised to borrow sums of money as they may
deem necessary for the purpose of the business of our Company, which together
with the monies already borrowed by our Company (apart from temporary loans
REWDLQHGIURPRXU&RPSDQ\¶VEDQNHUVLQWKHRUGLQDU\FRXUVHRIEXVLQHVVPD\
H[FHHGDWDQ\WLPHWKHDJJUHJDWHRIWKHSDLGXSFDSLWDORIRXU&RPSDQ\DQG
LWVIUHHUHVHUYHVWKDWLVWRVD\UHVHUYHVQRWVHWDSDUWIRUDQ\VSHFL¿FSXUSRVHV
E\DVXPQRWH[FHHGLQJ` 120,000 million (Rupees One hundred and twenty
thousand million).
At the meeting of the Board of Directors of our Company, held on August 21,
2013 the Directors approved the issue of NCDs to the public upto an amount not
H[FHHGLQJ` 12,000 million.
34. Face Value
The face value of each NCD to be issued under this Issue shall be ` 1,000.
35. Security
The principal amount of the NCDs to be issued in terms of this Prospectus
together with all interest due on the NCDs, as well as all costs, charges, all fees,
UHPXQHUDWLRQRI'HEHQWXUH7UXVWHHDQGH[SHQVHVSD\DEOHLQUHVSHFWWKHUHRIVKDOO
EHVHFXUHGE\ZD\RI¿UVWSDULSDVVXFKDUJHRQWKHLGHQWL¿HGLPPRYDEOHSURSHUW\
DQGD¿UVWparipassu charge on current assets, book debts, loans and advances,
and receivables including gold loan receivables, both present and future, of our
Company.
Our Company will create the security for the NCDs in favour of the Debenture
7UXVWHHIRUWKH1&'+ROGHUVRQWKHDVVHWVWRHQVXUHVHFXULW\FRYHURI
the amount outstanding in respect of NCDs at any time.
Our Company intends to enter into an agreement with the Debenture Trustee,
µ'HEHQWXUH7UXVW'HHG¶WKHWHUPVRIZKLFKZLOOJRYHUQWKHDSSRLQWPHQWRI
the Debenture Trustee and the issue of the NCDs. Our Company proposes to
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%DVLV RI$OORWPHQW LQ FRQVXOWDWLRQ ZLWK WKH 'HVLJQDWHG 6WRFN ([FKDQJH DQG
XWLOL]HWKHIXQGVRQO\DIWHUWKHVWLSXODWHGVHFXULW\KDVEHHQFUHDWHG
8QGHUWKHWHUPVRIWKH'HEHQWXUH7UXVW'HHGRXU&RPSDQ\ZLOOFRYHQDQWZLWK
WKH'HEHQWXUH7UXVWHHWKDWLWZLOOSD\WKH1&'+ROGHUVWKHSULQFLSDODPRXQWRQ
the NCDs on the relevant redemption date and also that it will pay the interest
GXHRQ1&'VRQWKHUDWHVSHFL¿HGLQWKLV3URVSHFWXVDQGLQWKH'HEHQWXUH7UXVW
Deed.
The Debenture Trust Deed will also provide that our Company may withdraw
any portion of the security and replace with another asset of the same or a higher
value.
36. Credit Rating
CARE
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>'RXEOH$@ E\ &$5( IRU DQ DPRXQW RI XSWR ` 12,000 million vide its letter
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with this rating are considered to have a high degree of safety regarding timely
VHUYLFLQJRI¿QDQFLDOREOLJDWLRQV6XFKLQVWUXPHQWVFDUU\YHU\ORZFUHGLWULVN
Brickwork
The NCDs proposed to be issued under this Issue have been rated ‘BWR AA
(Outlook: Stable) by Brickwork for an amount of up to `10,500 million vide
its letter dated August 27, 2013. The rating of NCDs by Brickwork indicates
instruments with this rating are considered to have a high degree of safety
UHJDUGLQJ WLPHO\ VHUYLFLQJ RI ¿QDQFLDO REOLJDWLRQV 6XFK LQVWUXPHQWV FDUU\
very low credit risk.
37. Period of Subscription
The subscription list shall remain open for a period as indicated below, with an
RSWLRQIRUHDUO\FORVXUHRUH[WHQVLRQE\VXFKSHULRGDVPD\EHGHFLGHGE\WKH
GXO\DXWKRULVHGFRPPLWWHHRI'LUHFWRUVRIRXU&RPSDQ\VXEMHFWWRQHFHVVDU\
DSSURYDOV ,Q WKH HYHQW RI VXFK HDUO\ FORVXUH RI WKH ,VVXH RU H[WHQVLRQ RXU
&RPSDQ\VKDOOHQVXUHWKDWQRWLFHRIVXFKHDUO\FORVXUHH[WHQVLRQLVJLYHQRQH
day prior to such early date of closure through advertisement/s in a leading
national daily newspaper.
Issue Opens on
September 17, 2013
Issue Closing Date*
October 4, 2013
*Application and any further changes to the Applications shall be accepted
only between 10.00 a.m. and 5.00 p.m. (Indian Standard Time, “IST”) during
the Issue Period as mentioned above by the Members of the Syndicate, Trading
Members and designated branches of SCSBs, except that on the Issue Closing
Date when the Applications and any further changes in details in Applications,
if any, shall be accepted only between 10.00 a.m. and 3.00 p.m. (IST) and
shall be uploaded until 5.00 p.m. (IST) or such extended time as permitted
E\ WKH 6WRFN ([FKDQJHV ,W LV FODUL¿HG WKDW WKH $SSOLFDWLRQV QRW XSORDGHG LQ
the Stock Exchange Platform would be rejected.
Due to limitation of time available for uploading the Applications on the
Issue Closing Date, the Applicants are advised to submit their Applications
one day prior to the Issue Closing Date and, in any case, no later than 3.00
p.m. (IST) on the Issue Closing Date. All times mentioned in this Prospectus
are Indian Standard Time. Applicants are cautioned that in the event a large
number of Applications are received on the Issue Closing Date, as is typically
experienced in public offerings, some Applications may not get uploaded due
WRODFNRIVXI¿FLHQWWLPH
Such Applications that cannot be uploaded will not be considered for allocation
under the Issue. Applications will be accepted only on Business Days, i.e.,
Monday to Friday (excluding any public holiday). Neither our Company, nor
any Member of the Syndicate, Trading Members or designated branches of
SCSBs is liable for any failure in uploading the Applications due to faults in
any software/hardware system or otherwise.
INDIA INFOLINE FINANCE LIMITED
19
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
Application Amount
(DFKDSSOLFDWLRQVKRXOGEHIRUDPLQLPXPRI1&'VDQGPXOWLSOHVRI1&'
WKHUHDIWHU7KHPLQLPXPDSSOLFDWLRQVL]HIRUHDFKDSSOLFDWLRQIRU1&'VZRXOG
be ` 5,000 (for all options of NCDs namely, Option I, Option II, Option III and
Option IV NCDs either taken individually or collectively) and in multiples of `
1,000 thereafter (for all options of NCDs namely, Option I, Option II, Option III
and Option IV NCDs either taken individually or collectively).
Applicants can apply for any or all options of NCDs offered hereunder (any/all
options) using the same Application Form.
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39. Escrow Mechanism
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monies received from residents and non-residents including eligible NRIs on
repatriation and non-repatriation basis, FIIs and QFIs, in whose favour the
non-ASBA Applicants, applying through cheques shall make out the cheque
or demand draft in respect of their Application.
(DFK$SSOLFDQWH[FHSWIRU$6%$$SSOLFDQWVVKDOOGUDZDFKHTXHRUGHPDQG
draft for the Application Amount as per the following terms:
a) All Applicants would be required to pay the full Application Amount at
the time of the submission of the Application Form other than ASBA
Applicants.
b) The Applicants shall, with the submission of the Application Form, draw
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Accounts and submit the same along with their Application. If the payment
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by cash, stock invest, money order or postal order will not be accepted.
c) The payment instruments from the resident Applicants shall be payable
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d) The payment instruments from eligible Non Resident Applicants including
NRIs on repatriation and non-repatriation basis, FIIs and QFIs shall be
SD\DEOHLQWKH1RQ5HVLGHQW(VFURZ$FFRXQWVGUDZQLQIDYRXURI³,,)/
± 1&' (VFURZ ± 15 5HSDWULDEOH´ DQG ³,,)/ ± 1&' (VFURZ ± 15 ±
Non-Repatriable”.
Payments should be made by cheque, or a demand draft drawn on any bank
(including a cooperative bank), which is situated at cities where branches of
(VFURZEDQNVGHWDLOVRIZKLFKLVDYDLODEOHRQWKHZHEVLWHVRIWKH/HDG0DQDJHUV
DQG&R/HDG0DQDJHUVLVVLWXDWHG2XWVWDWLRQFKHTXHVGUDIWVVKDOOEHUHMHFWHG
(VFURZ &ROOHFWLRQ %DQNV VKDOO FDUU\ RXW QHFHVVDU\ FKHFNV DQG EDODQFHV WR
ensure that non-resident applications received in the Issue are on a repatriation
or non-repatriation basis, prior to realisation of payment instruments in the
relevant non-resident escrow/ public issue accounts.
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with the cheque/ demand draft submitted by a Non ASBA applicant shall be
GHSRVLWHGE\WKH0HPEHUVRIWKH6\QGLFDWHDQG7UDGLQJ0HPEHUVDUHDYDLODEOH
RQWKHZHEVLWHVRIWKH/HDG0DQDJHUVDWZZZD[LVFDSFRPZZZLGELFDSLWDO
FRPZZZWUXVWJURXSFRLQDQGZZZLLÀFDSFRPDQGWKH&R/HDG0DQDJHUVDW
ZZZUU¿QDQFHFRPUUIFOFRPZZZNDUY\FRPDQGZZZVPFFDSLWDOVFRP$OLQN
WRWKHVDLGZHESDJHVVKDOODOVREHDYDLODEOHRQWKHZHEVLWHRI16(DQG%6(
at www.nseindia.com and www.bseindia.com, respectively. A link shall also be
provided to the above mentioned websites in the Application Form as well.
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QHFHVVDU\FRPPXQLFDWLRQIURPWKH/HDG0DQDJHUVDQG&R/HDG0DQDJHUVWRWKH
,VVXHDVSHUWKHSURYLVLRQVRIWKH(VFURZ$JUHHPHQWWKH(VFURZ&ROOHFWLRQ
Bank(s) shall transfer the monies from the escrow accounts to separate bank
accounts i.e. the respective public issue accounts. Our Company shall at all
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or the Non Resident Public Issue Account shall be utilised only in accordance
with applicable statutory and/or regulatory requirements.
20
INDIA INFOLINE FINANCE LIMITED
7KH)HHVIRU/HDG0DQDJHUVDQG&R/HDG0DQDJHUVVKDOOEHSDLGRXWRIWKH
Public Issue Account once listing/ trading approvals are received from Stock
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Account shall be transferred to the Refund Account. Payments of refund and
interest on Application Amount to the relevant Applicants shall also be made
IURPWKH5HIXQG$FFRXQWDVSHUWKHWHUPVRIWKH(VFURZ$JUHHPHQWDQGWKLV
Prospectus.
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whatsoever over the monies deposited therein.
40. Allotment of Debt Securities
The registrar will aggregate the applications based on the applications
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1. Grouping of Applications and Allocation Ratio:
Applications received from various applicants shall be grouped together on
the following basis:
a) Applications received from Category I applicants:Applications received from
Category I, shall be grouped together, (“Institutional Portion”);
b) Applications received from Category II applicants:Applications received
from Category II, shall be grouped together, (“Non-Institutional Portion”);
c) Applications received from Category III applicants: Further with respect to
applications received from Category III applicants, applications by applicants
who apply for NCDs aggregating to a value not more than ` 1.00 million,
across all series of NCDs (Option I and/or Option II and/or Option III and/
or Option IV), shall be grouped together, (“Reserved Individual Portion”)
while applications by applicants who apply for NCDs aggregating to a value
H[FHHGLQJ ` 1.00 million, across all series of NCDs (Option I and/or Option
II and/or Option III and/or Option IV), shall be separately grouped together,
(“Unreserved Individual Portion”).
For removal of doubt, “Institutional Portion”, “Non-Institutional Portion”
“Reserved Individual Portion” and “Unreserved Individual Portion” are
individually referred to as “Portion” and collectively referred to as “Portions”
For the purposes of determining the number of NCDs available for allocation
to each of the abovementioned Portions, our Company shall have the discretion
of determining the number of NCDs to be allotted over and above the Base
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Issue upto ` 5,250 million. The aggregate value of NCDs decided to be allotted
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oversubscription in the Issue), and/or the aggregate value of NCDs upto the
%DVH,VVXH6L]HVKDOOEHFROOHFWLYHO\WHUPHGDVWKH“Overall Issue Size”.
41. Basis of Allotment for NCDs
a) $OORWPHQWVLQWKH¿UVWLQVWDQFH
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EH DOORFDWHG 1&'V XSWR RI 2YHUDOO ,VVXH 6L]H RQ ¿UVW FRPH ¿UVW
serve basis (determined on the basis of date of receipt of each application
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serve basis (determined on the basis of date of receipt of each application
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6&6%'HVLJQDWHG%UDQFKRURQOLQHDFNQRZOHGJHPHQW
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IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
LY $SSOLFDQWV EHORQJLQJ WR WKH 5HVHUYHG ,QGLYLGXDO 3RUWLRQ LQ WKH ¿UVW
LQVWDQFHZLOOEHDOORFDWHG1&'VXSWRRI2YHUDOO,VVXH6L]HRQ¿UVW
FRPH¿UVWVHUYHEDVLVGHWHUPLQHGRQWKHEDVLVRIGDWHRIUHFHLSWRIHDFK
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$OORWPHQWV LQ FRQVXOWDWLRQ ZLWK WKH 'HVLJQDWHG 6WRFN ([FKDQJH VKDOO
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b) Under Subscription:
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,QGLYLGXDO3RUWLRQVKDOO¿UVWEHPHWE\LQWHUVHDGMXVWPHQWEHWZHHQWKHVH
two sub-categories. Thereafter, if there is any under subscription in any
Portion, priority in allotments will be given in the following order:
i. Reserved Individual Portion
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iii. Non-Institutional Portion
iv. Institutional Portion
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6WRFN([FKDQJHVZRXOGEHWUHDWHGDWSDUZLWKHDFKRWKHU$OORWPHQWZLWKLQ
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NCDs to be allotted for each Portion respectively.
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would be made in case of each valid application.
c) Allotments in case of oversubscription:
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SURSRUWLRQDWHEDVLVLHIXOODOORWPHQWRI1&'VWRWKHDSSOLFDQWVRQD¿UVW
FRPH¿UVWEDVLVIRUIRUPVXSORDGHGXSWRSPRIWKHGDWHIDOOLQJRQH
day prior to the date of oversubscription and proportionate allotment of
NCDs to the applicants on the date of oversubscription (based on the date
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Portion).
d) Proportionate Allotments:
For each Portion, on the date of oversubscription:
i. Allotments to the applicants shall be made in proportion to their respective
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ii. If the process of rounding off to the nearest integer results in the actual
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will be allotted the number of NCDs arrived at after such rounding off.
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the highest decimal point would be given preference,
iii. In the event, there are more than one applicant whose entitlement remain
equal after the manner of distribution referred to above, our Company
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fair and equitable manner.
e) Applicant applying for more than one series of NCDs:
If an applicant has applied for more than one series of NCDs, and in case
such applicant is entitled to allocation of only a part of the aggregate
number of NCDs applied for, the Series-wise allocation of NCDs to such
applicants shall be in proportion to the number of NCDs with respect to
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All decisions pertaining to the basis of allotment of NCDs pursuant to
the Issue shall be taken by our Company in consultation with the Lead
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in compliance with the aforementioned provisions of this Prospectus.
Our Company would allot Option IV NCDs to all valid applications,
wherein the applicants have not indicated their choice of the relevant
Series of NCDs.
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KROG EDFN SK\VLFDO FHUWL¿FDWH DOORWHG WR WKH DSSOLFDQW SHQGLQJ UHFHLSW RI
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Company shall also not be liable to pay interest for delay in depatch of
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documents to the satisfaction of the Registrar.
42. Deemed date of Allotment
The date on which the Board of Directors/or duly authorised Committee
RI'LUHFWRUVDSSURYHVWKH$OORWPHQWRIWKH1&'V$OOEHQH¿WVUHODWLQJWR
the NCDs including interest on NCDs shall be available to the Debenture
+ROGHUVIURPWKH'HHPHG'DWHRI$OORWPHQW7KHDFWXDODOORWPHQWRI1&'V
may take place on a date other than the Deemed Date of Allotment.
43. $OORWPHQW$GYLFH5HIXQG2UGHUV
The unutilised portion of the application money will be refunded to the
Applicant on the Designated Date and no later than twelve (12) working
days from the Issue Closing Date in the manner as provided below:
1. In case of Applications made by Non-ASBA applicants on the Stock
([FKDQJH WKURXJK WKH 0HPEHUV RI WKH 6\QGLFDWH 7UDGLQJ 0HPEHUV RI
WKH6WRFN([FKDQJHVE\PDNLQJSD\PHQWWKRXJKFKHTXHVWKHXQXWLOLVHG
portion of the application money (includes refund amounts payable to
XQVXFFHVVIXO$SSOLFDQWVDQGDOVRWKHH[FHVVDPRXQWSDLGRQ$SSOLFDWLRQ
will be credited to the Bank Account of the Applicant as per the banking
account details (i) available with the depositories for Applicants having
Demat accounts and (ii) as provided in the Application Form for others
by way of any of the following modes:
L 'LUHFW &UHGLW ± ,QYHVWRUV KDYLQJ EDQN DFFRXQWV ZLWK WKH %DQNHUV WR WKH
Issue shall be eligible to receive refunds through direct credit. Charges,
if any, levied by the relevant bank(s) for the same would be borne by us.
LL 1(&6±3D\PHQWRIUHIXQGZRXOGEHGRQHWKURXJK1(&6IRU,QYHVWRUV
having an account at any of the 91 centres where such facility has been
PDGH DYDLODEOH 7KLV PRGH RI SD\PHQW RI UHIXQGV ZRXOG EH VXEMHFW WR
DYDLODELOLW\ RI FRPSOHWH EDQN DFFRXQW GHWDLOV LQFOXGLQJ WKH 0,&5 FRGH
as available from the Depositories. The payment of refunds through this
mode will be done for Applicants having a bank account at any centre
ZKHUH 1(&6 IDFLOLW\ KDV EHHQ PDGH DYDLODEOH VXEMHFW WR DYDLODELOLW\ RI
DOOLQIRUPDWLRQIRUFUHGLWLQJWKHUHIXQGWKURXJK1(&6
LLL 1()7±3D\PHQWRIUHIXQGVKDOOEHXQGHUWDNHQWKURXJK1()7ZKHUHYHU
WKH,QYHVWRUV¶EDQNKDVEHHQDVVLJQHGWKH,QGLDQ)LQDQFLDO6\VWHP&RGH
,)6& ZKLFK FDQ EH OLQNHG WR D 0,&5 DOORWWHG WR WKDW SDUWLFXODU EDQN
branch. IFSC Code will be obtained from the website of RBI as on a
date immediately prior to the date of payment of refund, duly mapped
ZLWK0,&5QXPEHUV,QFDVHRIRQOLQHSD\PHQWRUZKHUHYHUWKH,QYHVWRUV
KDYH UHJLVWHUHG WKHLU QLQH GLJLW 0,&5 QXPEHU DQG WKHLU EDQN DFFRXQW
number with the depository participant while opening and operating the
GHPDWDFFRXQWWKH0,&5QXPEHUDQGWKHLUEDQNDFFRXQWQXPEHUZLOOEH
duly mapped with the IFSC Code of that particular bank branch and the
payment of refund will be made to the Investors through this method.
LY 57*6 ± ,I WKH UHIXQG DPRXQW H[FHHGV ` 200,000, the Investors have
the option to receive refund through RTGS. Charges, if any, levied by
the refund bank(s) for the same would be borne by us. Charges, if any,
OHYLHGE\WKH,QYHVWRU¶VEDQNUHFHLYLQJWKHFUHGLWZRXOGEHERUQHE\WKH
Investor.
v. For all other Investors (non-ASBA) the refund orders will be despatched
through Speed Post/ Registered Post. Such refunds will be made by
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Investor and payable at par.
vi. Credit of refunds to Investors in any other electronic manner permissible
XQGHUWKHEDQNLQJODZVZKLFKDUHLQIRUFHDQGDUHSHUPLWWHGE\WKH6(%,
from time to time.
2. In case of ASBA Applications, the unutilised portion of the application
money shall be unblocked by the SCSBs on the basis of the instructions
LVVXHG LQ WKLV UHJDUG E\ WKH 5HJLVWUDU WR WKH ,VVXH WKH /HDG 0DQDJHUV
DQGWKH&R/HDG0DQDJHUVWRWKHUHVSHFWLYH6&6%V
INDIA INFOLINE FINANCE LIMITED
21
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
Further,
‡ Allotment of NCDs shall be made within a time period of twelve (12)
:RUNLQJ'D\VIURPWKHGDWHRIFORVXUHRIWKH,VVXH
‡ Credit to demat account will be given no later than twelve (12) Working
'D\VIURPWKHGDWHRIWKHFORVXUHRIWKH,VVXH
‡ 2XU&RPSDQ\VKDOOSD\LQWHUHVWDW¿IWHHQSHUDQQXPLI$OORWPHQW
is not made and refund orders are not dispatched and/or demat credits are not made to investors within twelve (12) Working Days of the Issue
&ORVLQJ 'DWH RU GDWH RI UHIXVDO RI WKH 6WRFN ([FKDQJHV ZKLFKHYHU LV
earlier. If such money is not repaid within eight days from the day our
&RPSDQ\ EHFRPHV OLDEOH WR UHSD\ LW RXU &RPSDQ\ DQG HYHU\ RI¿FHU LQ
GHIDXOW VKDOO RQ DQG IURP H[SLU\ RI HLJKW GD\V EH OLDEOH WR UHSD\ WKH
money with interest at the rate of 15% as prescribed under Section 73
RI WKH &RPSDQLHV$FW SURYLGHG WKDW WKH EHQH¿FLDU\ SDUWLFXODUV UHODWLQJ to such Applicants as given by the Applicants is valid at the time of the
upload of the demat credit.
Our Company will provide adequate funds to the Registrars to the Issue,
for this purpose.
43A. Interest
1. Interest and Payment of Interest
In case of Option I and III, interest would be paid monthly at the
following rates of interest in connection with the relevant categories of
NCD holders, on the amount outstanding from time to time, commencing
from the Deemed Date of Allotment of Option I NCD:
Rate of Interest per annum payable monthly (%)
Please note that in case the NCDs are transferred and/or transmitted in
accordance with the provisions of this Prospectus read with the provisions
of the Articles of Association of our Company, the transferee of such
NCDs or the deceased holder of NCDs, as the case may be, shall be
HQWLWOHGWRDQ\LQWHUHVWZKLFKPD\KDYHDFFUXHGRQWKH1&'VVXEMHFWWR
such Transferee holding the NCDs on the Record Date.
$V SHU FODXVH L[ RI 6HFWLRQ RI WKH ,7 $FW QR WD[ LV UHTXLUHG WR
be deducted at source on any interest payable on any security issued
E\ D FRPSDQ\ ZKHUH VXFK VHFXULW\ LV LQ GHPDWHULDOL]HG IRUP DQG LV
OLVWHG RQ D UHFRJQL]HG VWRFN H[FKDQJH LQ ,QGLD LQ DFFRUGDQFH ZLWK WKH
Securities Contracts (Regulation) Act, 1956 (42 of 1956) and the rules
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interest on listed NCDs held in the dematerialised form.
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payable on such NCDs held by the investor (in case of resident individual
1&' KROGHUV LI VXFK LQWHUHVW GRHV QRW H[FHHG ` LQ DQ\ ¿QDQFLDO
\HDU ,I LQWHUHVW H[FHHGV WKH SUHVFULEHG OLPLW RI ` 5,000 on account of
LQWHUHVW RQ WKH 1&'V WKHQ WKH WD[ ZLOO EH GHGXFWHG DW DSSOLFDEOH UDWH
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furnish either (a) a declaration (in duplicate) in the prescribed form i.e.
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60 years or more (ii) Form 15G which can be given by all applicants
RWKHUWKDQFRPSDQLHVDQG¿UPVRUEDFHUWL¿FDWHIURPWKH$VVHVVLQJ
2I¿FHUZKLFKFDQEHREWDLQHGE\DOODSSOLFDQWVLQFOXGLQJFRPSDQLHVDQG
¿UPVE\PDNLQJDQDSSOLFDWLRQLQWKHSUHVFULEHGIRUPLH)RUP1R
Category of NCD Holder
Option I
Option III
The aforesaid documents, as may be applicable, should be submitted
Category I and Category II
12%
12%
WR RXU &RPSDQ\ TXRWLQJ WKH QDPH RI WKH VROH ¿UVW 1&' KROGHU 1&'
Reserved Individual Portion in category III
12%
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folio number and the distinctive number(s) of the NCD held, prior to the
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8QUHVHUYHG,QGLYLGXDO3RUWLRQLQFDWHJRU\,,,
12%
12%
IURPLQWHUHVWRQWKH1&'7KHLQYHVWRUVQHHGWRVXEPLW)RUP+*
For avoidance of doubt, with respect to Option I and Option III where interest is
FHUWL¿FDWHLQRULJLQDOIURP$VVHVVLQJ2I¿FHUIRUHDFK¿QDQFLDO\HDUGXULQJ
WREHSDLGRQDPRQWKO\EDVLVUHOHYDQWLQWHUHVWZLOOEHFDOFXODWHGIURPWKH¿UVWGD\
the currency of the NCD to ensure non-deduction or lower deduction of
till the last date of every month during the tenor of such NCDs, and paid on the
WD[DWVRXUFHIURPLQWHUHVWRQWKH1&'
¿UVWGD\RIHYHU\VXEVHTXHQWPRQWK)RUWKH¿UVWLQWHUHVWSD\PHQWIRU1&'VXQGHU
the monthly options, interest from the Deemed Date of Allotment till the last day 44. Payment of Interest to NCD Holders
RI WKH VXEVHTXHQW PRQWK ZLOO EH FOXEEHG DQG SDLG RQ WKH ¿UVW GD\ RI WKH PRQWK
Payment of Interest will be made to those NCD holders whose names
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DSSHDULQWKHUHJLVWHURI'HEHQWXUH+ROGHUVRUWR¿UVWKROGHULQFDVHRI
In case of Option II and IV NCDs, interest would be paid annually at the
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following rates of interest in connection with the relevant categories of
We may enter into an arrangement with one or more banks in one or more
NCD holders, on the amount outstanding from time to time, commencing
cities for direct credit of interest to the account of the investors. In such
from the Deemed Date of Allotment of each Option II and option IV
cases, interest, on the interest payment date, would be directly credited
NCD:
to the account of those investors who have given their bank mandate.
Rate of Interest per annum (%)
:HPD\RIIHUWKHIDFLOLW\RI1(&61()757*6'LUHFW&UHGLWDQGDQ\
RWKHUPHWKRGSHUPLWWHGE\5%,DQG6(%,IURPWLPHWRWLPHWRKHOS1&'
Category of NCD Holder
Option II
Option IV
holders. The terms of this facility (including towns where this facility would
Category I and Category II
12%
12%
be available) would be as prescribed by RBI. Refer to the paragraph on
Reserved Individual Portion in Category III
12%
12%
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page 266.
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12%
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For avoidance of doubt, with respect to Option II and Option IV where the 7D[ H[HPSWLRQ FHUWL¿FDWHGRFXPHQW LI DQ\ PXVW EH ORGJHG DW WKH RI¿FH
date of interest payment falls on a Saturday, Sunday or a public holiday in
of the Registrar at least 7(seven) days prior to the Record Date or as
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VSHFL¿FDOO\ UHTXLUHG IDLOLQJ ZKLFK WD[ DSSOLFDEOH RQ LQWHUHVW ZLOO EH
,QVWUXPHQWV$FW WKHQ LQWHUHVW ZRXOG EH SDLG RQ WKH QH[W ZRUNLQJ
GHGXFWHGDWVRXUFHRQDFFUXDOWKHUHRILQRXU&RPSDQ\¶VERRNVDQGRURQ
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payment thereof, in accordance with the provisions of the IT Act and/
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the time being in force.
may be.
Please note that if the date of interest payment falls on a Saturday, Sunday $WD[GHGXFWLRQFHUWL¿FDWHZLOOEHLVVXHGIRUWKHDPRXQWRIWD[VRGHGXFWHG
RU D SXEOLF KROLGD\ LQ 0XPEDL RU DQ\ RWKHU SD\PHQW FHQWUH QRWL¿HG LQ 45. Interest on Application Money
WHUPV RI WKH 1HJRWLDEOH ,QVWUXPHQWV$FW WKHQ LQWHUHVW DV GXH DQG a. Interest on application monies received which are used towards allotment
SD\DEOHRQ VXFK GD\ ZRXOG EH SDLG RQ WKH QH[W:RUNLQJ 'D\ 3D\PHQW
of NCDs
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Our Company shall pay interest on application money on the amount
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in force.
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22
INDIA INFOLINE FINANCE LIMITED
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
b.
46.
a.
b.
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the time of redemption and the redemption proceeds would be paid to those
of the cheque(s)/demand draft(s) whichever is later up to one day prior to
NCD holders whose names stand in the register of NCD holders maintained
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E\XVRQWKHUHFRUGGDWH¿[HGIRUWKHSXUSRVHRI5HGHPSWLRQ+RZHYHU
no interest is to be paid on application amount to the ASBA Applicants.
RXU &RPSDQ\ PD\ UHTXLUH WKDW WKH 1&' FHUWL¿FDWHV GXO\ GLVFKDUJHG
E\WKHVROHKROGHUDOOWKHMRLQWKROGHUVVLJQHGRQWKHUHYHUVHRIWKH1&'
Our Company has a right to withdraw the Issue at anytime 2 (two) days
FHUWL¿FDWHVEHVXUUHQGHUHGIRUUHGHPSWLRQRQPDWXULW\DQGVKRXOGEHVHQW
prior to Issue Closing Date for receiving subscription in the Issue. Our
by the NCD holder(s) by Registered Post with acknowledgment due or by
&RPSDQ\ VKDOO LQ WKH HYHQW RI VXFK ZLWKGUDZDO VXEMHFW WR UHFHLSW RI D
KDQG GHOLYHU\ WR RXU RI¿FH RU WR VXFK SHUVRQV DW VXFK DGGUHVVHV DV PD\
minimum subscription of 75% of the Base Issue, i.e. ` 3,937.50 million,
EHQRWL¿HGE\XVIURPWLPHWRWLPH1&'KROGHUVPD\EHUHTXHVWHGWR
allot NCDs to all applicants who have applied for NCDs up to one day
VXUUHQGHUWKH1&'FHUWL¿FDWHVLQWKHPDQQHUDVVWDWHGDERYHQRWPRUH
prior to the date by which Company gives notice for withdrawal of Issue.
than three months and not less than one month prior to the redemption
Further our Company shall pay interest on application money on the amount
date so as to facilitate timely payment.
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,QFRPH 7D[$FW DV DPHQGHG DV DSSOLFDEOH WR DQ\ DSSOLFDQWV WR
We may at our discretion redeem the NCDs without the requirement of
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VXUUHQGHULQJRIWKH1&'FHUWL¿FDWHVE\WKHKROGHUVWKHUHRI,QFDVHZH
of the cheque(s)/demand draft(s) or 3 (three) days from the date of receipt
GHFLGHWRGRVRWKHKROGHUVRI1&'VQHHGQRWVXEPLWWKH1&'FHUWL¿FDWHV
of the application (being the date of presentation of each application as
to us and the redemption proceeds would be paid to those NCD holders
acknowledged by the Bankers to the Issue) whichever is later up to one
whose names stand in the register of NCD holders maintained by us on
day prior to the Deemed Date of Allotment, at the rate of 12% per annum.
WKH UHFRUG GDWH ¿[HG IRU WKH SXUSRVH RI UHGHPSWLRQ RI 1&'V ,Q VXFK
+RZHYHULWLVFODUL¿HGWKDWLQWKHHYHQWWKDWRXU&RPSDQ\GRHVQRWUHFHLYH
FDVHWKH1&'FHUWL¿FDWHVZRXOGEHGHHPHGWRKDYHEHHQFDQFHOOHG$OVR
a minimum subscription of 75% of the Base Issue, i.e. ` 3,937.50million
see the paragraph on “Payment on Redemption” given below.
our Company will not allot any NCDs to applicants.
NCDs held in Demat form:
Please note no interest is to be paid on application monies to the ASBA
No action is required on the part of NCD holder(s) at the time of redemption
Applicants.
of NCDs.
Our Company may enter into an arrangement with one or more banks 47. Payment on Redemption
in one or more cities for direct credit of interest to the account of the
The manner of payment of redemption is set out below:
applicants. Alternatively, the interest warrant will be dispatched along with
NCDs held in physical form(not applicable for non-resident Investors):
WKH/HWWHUVRI$OORWPHQWDWWKHVROHULVNRIWKHDSSOLFDQWWRWKHVROH¿UVW
The payment on redemption of the NCDs will be made by way of cheque/
applicant.
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Interest on application monies received which are liable to be refunded
aforementioned payment would only be made on the surrender of NCD
Our Company shall pay interest on application money which is liable to
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be refunded to the applicants in accordance with the provisions of the
VLJQHGRQWKHUHYHUVHRIWKH1&'FHUWL¿FDWHV'HVSDWFKRIFKHTXHVSD\
6(%, 'HEW 5HJXODWLRQV DQGRU WKH &RPSDQLHV $FW RU RWKHU DSSOLFDEOH
order, etc. in respect of such payment will be made on the Redemption
VWDWXWRU\ DQGRU UHJXODWRU\ UHTXLUHPHQWV VXEMHFW WR GHGXFWLRQ RI LQFRPH
Date or (if so requested by our Company in this regard) within a period
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of 11 Working Days from the date of receipt of the duly discharged NCD
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FHUWL¿FDWH
upto one day prior to the Deemed Date of Allotment, at the rate of 4%
In case we decide to do so, the redemption proceeds in the manner stated
per annum. Such interest shall be paid along with the monies liable to
above would be paid on the Redemption Date to those NCD holders
be refunded. Interest warrant will be dispatched / credited (in case of
whose names stand in the register of NCD holders maintained by us on
electronic payment) along with the Letter(s) of Refund at the sole risk
WKHUHFRUGGDWH¿[HGIRUWKHSXUSRVHRI5HGHPSWLRQ+HQFHWKHWUDQVIHUHHV
RI WKH DSSOLFDQW WR WKH VROH¿UVW DSSOLFDQW +RZHYHU QR LQWHUHVW LV WR EH
if any, should ensure lodgement of the transfer documents with us at least
paid on application monies to the ASBA Applicants.
7 (seven) days prior to the record date. In case the transfer documents are
In the event our Company does not receive a minimum subscription of
not lodged with us at least 7 (seven) days prior to the record date and
75 % of the Base Issue, i.e. ` 3,937.50 million on the date of closure
we dispatch the redemption proceeds to the transferor, claims in respect
of the Issue, the entire subscription shall be refunded to the applicants
of the redemption proceeds should be settled amongst the parties inter se
within Twelve (12) Working Days from the date of closure of the Issue. If
and no claim or action shall lie against us or the Registrars.
WKHUHLVGHOD\LQWKHUHIXQGRIVXEVFULSWLRQE\PRUHWKDQGD\VDIWHURXU
2XUOLDELOLW\WRWKH1&'+ROGHUVWRZDUGVKLVWKHLUULJKWVLQFOXGLQJIRU
Company becomes liable to pay the subscription amount, our Company
SD\PHQWRURWKHUZLVHVKDOOVWDQGH[WLQJXLVKHGIURPWKHGDWHRIUHGHPSWLRQ
will pay interest for the delayed period, at rates prescribed under subin all events and when we dispatch the redemption amounts to the NCD
sections (2) and (2A) of Section 73 of the Companies Act.
holder(s).
Provided that, notwithstanding anything contained hereinabove, our
Further, we will not be liable to pay any interest, income or compensation
Company shall not be liable to pay any interest on monies liable to be
of any kind from the date of redemption of the NCD(s).
refunded in case of (a) invalid applications or applications liable to be
NCDs held in Demat form:
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On the redemption date, redemption proceeds would be paid by cheque /
Please refer to “Rejection of Application´DWSDJHRIWKH3URVSHFWXV
pay order / electronic mode to those NCD holders whose names appear on
Maturity and Redemption
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Period of Redemption
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SXUSRVHRIUHGHPSWLRQ7KHVH1&'VZLOOEHVLPXOWDQHRXVO\H[WLQJXLVKHG
from the Deemed Date of Allotment.
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2SWLRQ ,,, DQG 2SWLRQ ,9 1&'V ZLOO EH UHGHHPHG DW WKH H[SLU\ RI action upon redemption of the corresponding value of the NCDs. It may
months from the Deemed Date of Allotment.
be noted that in the entire process mentioned above, no action is required
Procedure for Redemption by NCD holders
on the part of NCD holders.
NCDs held in physical form (not applicable for non-resident Investors):
Our liability to NCD holder(s) towards his/their rights including for
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No action would ordinarily be required on the part of the NCD holder at
INDIA INFOLINE FINANCE LIMITED
23
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
II.
49.
50.
‡
‡
1.
2.
3.
24
in all events and when we dispatch the redemption amounts to the NCD
holder(s).
Further, we will not be liable to pay any interest, income or compensation
of any kind from the date of redemption of the NCD(s).
Payments
Terms of Payment
The face value for the NCDs is payable on application only. In case
of allotment of lesser number of NCDs than the number applied, our
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to the applicant.
Record Date
The record date for payment of interest in connection with the NCDs or
repayment of principal in connection therewith shall be 7 days prior to the
date on which interest is due and payable, and/or the date of redemption.
Provided that trading in the NCDs shall remain suspended between the
aforementioned Record Date in connection with redemption of NCDs and
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case may be.
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trading holiday, the immediate subsequent trading day will be deemed as
the Record Date.
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The manner of payment of interest / refund in connection with the NCDs
is set out below:
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The bank details will be obtained from the Depositories for payment of
,QWHUHVWUHIXQGH[FHSW$6%$$SSOLFDWLRQVUHGHPSWLRQDVWKHFDVHPD\
be. Applicants who have applied for or are holding the NCDs in Demat
form, are advised to immediately update their bank account details as
appearing on the records of the depository participant. Please note that
failure to do so may result in delays in credit of refunds to the applicant
DW WKH DSSOLFDQW¶V VROH ULVN DQG WKH /HDG 0DQDJHUV &R/HDG 0DQDJHUV
our Company nor the Registrar to the Issue shall have any responsibility
and undertake any liability for the same.
For NCDs held in physical form (not applicable for non-resident
Investors):
The bank details will be obtained from the Registrar to the Issue for
payment of interest / refund / redemption as the case may be.
The mode of interest/ refund/ redemption payments shall be undertaken
in the following order of preference:
Direct Credit
Investors having their bank account with the Refund Banks, shall be eligible
to receive refunds, if any, through direct credit. The refund amount, if any,
would be credited directly to their bank account with the Refund Banker.
NECS
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bank account number, bank name and branch name as appearing on a
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Applicants having a bank account at any of the abovementioned centers.
RTGS
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INDIA INFOLINE FINANCE LIMITED
4.
5.
51.
52.
53.
in the Application Form or intimate our Company and the Registrars to
the Issue at least 7 (seven) days before the Record Date. Charges, if any,
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provided, interest payment / refund / redemption shall be made through
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same as stated above.
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Payment of interest / refund / redemption shall be undertaken through
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the Indian Financial System Code (“IFSC”), which can be linked to a
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particular bank branch. IFSC Code will be obtained from the website of
RBI as on a date immediately prior to the date of payment of refund,
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number while opening and operating the de-mat account, the same will be
duly mapped with the IFSC Code of that particular bank branch and the
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Applicants through this method.
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who have been alloted Option I NCDs and if the interest payment through
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be paid annually and the interest payment / refund / redemption orders
shall be dispatched through Speed Post/ Registered Post.
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through the modes detailed in (1), (2) (3), and (4) herein above provided
they provide necessary information for the above modes and where such
payment facilities are allowed / available.
Please note that our Company shall not be responsible to the holder of
NCD, for any delay in receiving credit of interest / refund / redemption
so long as our Company has initiated the process of such request in time.
Printing of Bank Particulars on Interest Warrants
As a matter of precaution against possible fraudulent encashment of refund
orders and interest/redemption warrants due to loss or misplacement, the
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required to be given for printing on the refund orders/ warrants. In relation
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be taken directly from the depositories. In case of NCDs held in physical
form either on account of rematerialisation or transfer, the investors are
advised to submit their bank account details with our Company/ Registrar
at least 7 (seven) days prior to the record date failing which the refund
orders/ warrants will be dispatched to the postal address of the holder of
the NCD as available in the records of our Company.
Bank account particulars will be printed on the refund orders/ warrants
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Buy Back of NCDs
Our Company may, at its sole discretion, from time to time, consider,
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of NCDs, upon such terms and conditions as may be decided by our
Company.
Effect of holidays on payment
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Interest shall be computed on a 365 days a year basis on the principal
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IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
54.
55.
I.
1.
(a)
(b)
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anniversary / redemption date includes February 29, interest shall be
computed on 366 days a-year basis, on the principal outstanding on the
NCDs.
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not fall on a Working Day, then the succeeding Working Day will be
considered as the effective date for such payment of interest or principal,
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Transfer of Debt securities
The NCDs shall be transferred or transmitted freely in accordance with
the applicable provisions of the Act. The provisions relating to transfer
and transmission and other related matters in respect of our shares
contained in the Articles and the Act shall apply, mutatis mutandis (to
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of the NCDs held in physical form, a suitable instrument of transfer as
may be prescribed by us may be used for the same. The NCDs held in
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with the rules/procedures as prescribed by NSDL/CDSL and the relevant
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formalities are completed prior to the record date. In the absence of
the same, interest will be paid/redemption will be made to the person,
whose name appears in the register of debenture holders maintained by
the Depositories/ Company, as the case may be. In such cases, claims,
if any, by the transferees would need to be settled with the transferor(s)
and not with us or Registrar.
Taxation
To the Resident Debenture Holder
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estimated total income of the previous year in which such income is to be
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(1B) of the I.T. Act, Form 15G cannot be submitted nor considered for
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of the nature referred to in the said section, viz. dividend, interest, etc. as
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source in accordance with the provisions of section 197A (1C) of the
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Company before the prescribed date of closure of books for payment of
debenture interest.
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I.T. Act, a listed debenture is treated as a long term capital asset if the
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of the debenture from the sale consideration.
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by the amount by which the total income as so reduced falls short of the
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the balance of such long-term capital gains shall be computed at the rate
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Short-term capital gains on the transfer of listed debentures, where
debentures are held for a period of not more than 12 months would be
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To the Non Resident Indians
A non-resident Indian has an option to be governed by Chapter XII-A of
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in brief as under:
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INDIA INFOLINE FINANCE LIMITED
25
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
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Indian from transfer of debentures acquired or purchased with or subscribed
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to in clause (4B) of section 10 of the I.T. Act in accordance with and
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under section 115C and / or long term capital gains earned on transfer
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provisions contained therein.
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a resident in India in any subsequent year, he may furnish to the Assessing
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139 for the assessment year for which he is assessable, to the effect that
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to the provisions contained therein. On doing so, the provisions of Chapter
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or conversion into money of such assets.
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at the normal rates for Short Term Capital Gains if the payee Debenture
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education cess described above would also apply to such income/gains.
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anything contained in the Act. By this Rule any arrangement entered into
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,Q DFFRUGDQFH ZLWK DQG VXEMHFW WR WKH SURYLVLRQV RI VHFWLRQ ' RI WKH ,7$FW QR GHGXFWLRQ RI WD[ DW VRXUFH LV DSSOLFDEOH LQ UHVSHFW RI
capital gains arising on the transfer of debentures by FIIs.
The provisions at para II (4 and 5) above would also apply to FIIs.
IV. To the Other Eligible Institutions
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RUVHWXSE\SXEOLFVHFWRUEDQNVRUSXEOLF¿QDQFLDOLQVWLWXWLRQVRUDXWKRULVHG
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including income from investment in Debentures under the provisions of
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provisions contained therein.
OTHER INSTRUCTIONS
I. Rights of NCD holders
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7KH1&'VVKDOOQRWH[FHSWDVSURYLGHGLQWKH$FWFRQIHUXSRQWKHKROGHUV
thereof any rights or privileges available to our members including the
right to receive notices or annual reports of, or to attend and/or vote, at our
JHQHUDOPHHWLQJ+RZHYHULIDQ\UHVROXWLRQDIIHFWLQJWKHULJKWVDWWDFKHG
to the NCDs is to be placed before the members, the said resolution will
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consideration. In terms of Section 219(2) of the Act, holders of NCDs
shall be entitled to a copy of the balance sheet and copy of trust deed
RQDVSHFL¿FUHTXHVWPDGHWRXV
2. 6XEMHFW WR DSSOLFDEOH VWDWXWRU\UHJXODWRU\ UHTXLUHPHQWV LQFOXGLQJ
requirements of the RBI, the rights, privileges and conditions attached to
WKH1&'VPD\EHYDULHGPRGL¿HGDQGRUDEURJDWHGZLWKWKHFRQVHQWLQ
writing of the holders of at least three-fourths of the outstanding amount
of the NCDs or with the sanction of a special resolution passed at a
meeting of the concerned NCD holders, provided that nothing in such
consent or resolution shall be operative against us, where such consent
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NCDs, if the same are not acceptable to us.
3. 7KHUHJLVWHUHG1&'KROGHURULQFDVHRIMRLQWKROGHUVWKHRQHZKRVHQDPH
VWDQGV ¿UVW LQ WKH UHJLVWHU RI GHEHQWXUH KROGHUV VKDOO EH HQWLWOHG WR YRWH
LQ UHVSHFW RI VXFK 1&'V HLWKHU LQ SHUVRQ RU E\ SUR[\ DW DQ\ PHHWLQJ
of the concerned NCD holders and every such holder shall be entitled
to one vote on a show of hands and on a poll, his/her voting rights on
every resolution placed before such meeting of the NCD holders shall be
in proportion to the outstanding nominal value of NCDs held by him/her.
4. 7KH 1&'V DUH VXEMHFW WR WKH SURYLVLRQV RI WKH 'HEW 5HJXODWLRQV WKH
$FW WKH 0HPRUDQGXP DQG$UWLFOHV RI$VVRFLDWLRQ RI RXU &RPSDQ\ WKH
terms of this Prospectus, the Application Forms, the terms and conditions
of the Debenture Trust Deed, requirements of the RBI, other applicable
statutory and/or regulatory requirements relating to the issue and listing,
RIVHFXULWLHVDQGDQ\RWKHUGRFXPHQWVWKDWPD\EHH[HFXWHGLQFRQQHFWLRQ
with the NCDs.
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
5. A register of NCD holders (“Register of Debenture holder”) will be
maintained in accordance with Section 152 of the Act and all interest/
redemption amounts and principal sums becoming due and payable in
respect of the NCDs will be paid to the registered holder thereof for
WKHWLPHEHLQJRULQWKHFDVHRIMRLQWKROGHUVWRWKHSHUVRQZKRVHQDPH
VWDQGV¿UVWLQWKH5HJLVWHURI1&'KROGHUVDVRQWKHUHFRUGGDWH)XUWKHU
as the NCDs issued are also being issued in Demat form, the Depositories
shall also maintain the updated register of holders of the NCDs in Demat
Form.
6. 6XEMHFWWR FRPSOLDQFHZLWK 5%, UHTXLUHPHQWV1&'V FDQEH UROOHGRYHU
only with the consent of the holders of at least 75% of the outstanding
amount of the NCDs after providing at least 21 days prior notice for such
roll over and in accordance with the Debt Regulations. Our Company shall
redeem the debt securities of all the debt securities holders, who have not
given their positive consent to the roll-over.
7. The aforementioned rights of the NCD holders are merely indicative. The
¿QDOULJKWVRIWKH1&'KROGHUVZLOOEHDVSHUWKHWHUPVRIWKH3URVSHFWXV
DQGWKH'HEHQWXUH7UXVW'HHGWREHH[HFXWHGEHWZHHQRXU&RPSDQ\DQG
the Debenture Trustee.
II. Nomination facility to NCD holder
,QDFFRUGDQFHZLWK6HFWLRQ$RIWKH$FWWKHVROH1&'KROGHURU¿UVW
1&' KROGHU DORQJ ZLWK RWKHU MRLQW 1&' KROGHUV EHLQJ LQGLYLGXDOV
may nominate any one person (being an individual) who, in the event
RI GHDWK RI WKH VROH KROGHU RU DOO WKH MRLQWKROGHUV DV WKH FDVH PD\ EH
shall become entitled to the NCD. A person, being a nominee, becoming
entitled to the NCD by reason of the death of the NCD holder(s), shall be
entitled to the same rights to which he would be entitled if he were the
registered holder of the NCD. Where the nominee is a minor, the NCD
holder(s) may make a nomination to appoint, in the prescribed manner,
any person to become entitled to the NCD(s), in the event of his death,
during the minority. A nomination shall stand rescinded upon sale of a
NCD by the person nominating. A buyer will be entitled to make a fresh
nomination in the manner prescribed. When the NCD is held by two or
more persons, the nominee shall become entitled to receive the amount
only on the demise of all the holders. Fresh nominations can be made only
in the prescribed form available on request at our Registered/ Corporate
2I¿FHRUDWVXFKRWKHUDGGUHVVHVDVPD\EHQRWL¿HGE\XV
NCD holder(s) are advised to provide the specimen signature of the
QRPLQHHWRXVWRH[SHGLWHWKHWUDQVPLVVLRQRIWKH1&'VWRWKHQRPLQHH
in the event of demise of the NCD holder(s). The signature can be
provided in the Application Form or subsequently at the time of making
fresh nominations. This facility of providing the specimen signature of
the nominee is purely optional.
In accordance with Section 109B of the Act, any person who becomes
a nominee by virtue of the provisions of Section 109A of the Act, shall
upon the production of such evidence as may be required by the Board,
elect either:
‡ WRUHJLVWHUKLPVHOIRUKHUVHOIDVWKHKROGHURIWKH1&'VRU
‡ to make such transfer of the NCDs, as the deceased holder could have
made.
Further, the Board may at any time give notice requiring any nominee to
choose either to be registered himself or herself or to transfer the NCDs, and
if the notice is not complied with, within a period of 90 days, the Board
may thereafter withhold payment of all interests or redemption amounts
or other monies payable in respect of the NCDs, until the requirements
of the notice have been complied with.
For nominations made in dematerialised mode, there is no need to make
a separate nomination with our Company. Nominations registered with
the respective Depository Participant of the applicant would prevail. If the
investors require changing their nomination, they are requested to inform
their respective Depository Participant.
III. Events of Default
6XEMHFWWRWKHWHUPVRIWKH'HEHQWXUH7UXVW'HHGWKH'HEHQWXUH7UXVWHH
at its discretion may, or if so requested in writing by the holders of at
least three-fourths of the outstanding amount of the NCDs or with the
VDQFWLRQRIDVSHFLDOUHVROXWLRQSDVVHGDWDPHHWLQJRIWKH1&'+ROGHUV
VXEMHFW WR EHLQJ LQGHPQL¿HG DQGRU VHFXUHG E\ WKH 1&' +ROGHUV WR LWV
satisfaction), give notice to our Company specifying that the NCDs and/
or any particular series of NCDs, in whole but not in part are and have
EHFRPHGXHDQGUHSD\DEOHRQVXFKGDWHDVPD\EHVSHFL¿HGLQVXFKQRWLFH
inter alia if any of the events listed below occurs. The description below
is indicative and a complete list of events of default and its consequences
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i. default is committed in payment of the principal amount of the NCDs on
WKHGXHGDWHVDQG
ii. default is committed in payment of any interest on the NCDs on the due
date(s).
IV. Debenture Trustee
Trustees for the holders of the NCDs, in this case being IDBI Trusteeship
Services Limited
V. Filing of the Prospectus with ROC
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VI. Utilisation of Application Money
The sum received in respect of the Issue will be kept in separate bank
accounts and we will have access to such funds as per applicable provisions
of law(s), regulations and approvals.
VII.Pre-Issue Advertisement
Our Company will issue a statutory advertisement on or before the
Issue Opening Date. This advertisement will contain the information as
SUHVFULEHGXQGHU'HEW5HJXODWLRQV0DWHULDOXSGDWHVLIDQ\EHWZHHQWKH
GDWHRI¿OLQJRIWKLV3URVSHFWXVZLWK52&DQGWKHGDWHRIUHOHDVHRIWKLV
statutory advertisement will be included in the statutory advertisement.
VIII. Impersonation
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drawn to the provisions of sub-section (1) of section 68A of the Act,
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IX. Listing
The NCDs offered through this Prospectus are proposed to be listed on
WKH16(DQG%6(2XU&RPSDQ\KDVREWDLQHGDQµLQSULQFLSOH¶DSSURYDOV
IRUWKH,VVXHIURPWKH16(vide their letter dated September 4, 2013 and
IURP%6(vide their letter dated September 4, 2013. For the purposes of
WKH,VVXH16(VKDOOEHWKH'HVLJQDWHG6WRFN([FKDQJH
,ISHUPLVVLRQVWRGHDOLQDQGIRUDQRI¿FLDOTXRWDWLRQRIRXU1&'VDUHQRW
JUDQWHGE\16(DQGRU%6(RXU&RPSDQ\ZLOOIRUWKZLWKUHSD\ZLWKRXW
interest, all moneys received from the applicants in pursuance of this
Prospectus. Our Company shall ensure that all steps for the completion
of the necessary formalities for listing and commencement of trading at
16(DQGRU%6(DUHWDNHQZLWKLQWZHOYHZRUNLQJGD\VIURPWKHGDWH
RIFORVXUHRIWKH,VVXH)RUWKHDYRLGDQFHRIGRXEWLWLVKHUHE\FODUL¿HG
that in the event of non subscription to any one or more of the Options,
such NCDs with Option(s) shall not be listed.
X. Interim Use of Proceeds
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WLPH WR WLPH ZLOO KDYH ÀH[LELOLW\ LQ GHSOR\LQJ WKH SURFHHGV UHFHLYHG
IURP WKH ,VVXH 3HQGLQJ XWLOL]DWLRQ RI WKH SURFHHGV RXW RI WKH ,VVXH IRU
the purposes described above, our Company intends to temporarily invest
funds in high quality interest bearing liquid instruments including money
market mutual funds, deposits with banks or temporarily deploy the funds
in investment grade interest bearing securities as may be approved by
the Board. Such investment would be in accordance with the investment
policies approved by the Board or any committee thereof from time to
time.
INDIA INFOLINE FINANCE LIMITED
27
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
XI. Undertaking by the Issuer
We undertake that:
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UHODWLRQWR$SSOLFDWLRQVVXEPLWWHGWR7UDGLQJ0HPEHUVVKDOOEHDWWHQGHG
WRE\XVH[SHGLWLRXVO\DQGVDWLVIDFWRULO\
2. we shall take necessary steps for the purpose of getting the NCDs listed
ZLWKLQWKHVSHFL¿HGWLPH
3. the funds required for dispatch of refund orders/ allotment advice/
FHUWL¿FDWHVE\UHJLVWHUHGSRVWVKDOOEHPDGHDYDLODEOHWRWKH5HJLVWUDUE\
RXU&RPSDQ\
4. QHFHVVDU\ FRRSHUDWLRQ WR WKH FUHGLW UDWLQJ DJHQFLHV VKDOO EH H[WHQGHG LQ
providing true and adequate information until the debt obligations in
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5. we shall forward the details of utilisation of the funds raised through the
1&'V GXO\ FHUWL¿HG E\ RXU VWDWXWRU\ DXGLWRUV WR WKH 'HEHQWXUH 7UXVWHH
DWWKHHQGRIHDFKKDOI\HDU
6. we shall disclose the complete name and address of the Debenture Trustee
LQRXUDQQXDOUHSRUW
7. ZH VKDOO SURYLGH D FRPSOLDQFH FHUWL¿FDWH WR WKH 7UXVWHH RQ DQ DQQXDO
basis) in respect of compliance with the terms and conditions of issue of
1&'VDVFRQWDLQHGLQWKLV3URVSHFWXVDQG
we shall make necessary disclosures/ reporting under any other legal or
regulatory requirement as may be required by our Company from time
to time.
DETAILS PERTAINING TO THE COMPANY
I. General Information and Background
2XU &RPSDQ\ ZDV RULJLQDOO\ LQFRUSRUDWHG RQ -XO\ DV D SULYDWH
limited company under the provisions of the Companies Act as India
Infoline Investment Services Private Limited. Pursuant to a resolution
RI RXU VKDUHKROGHUV GDWHG 0D\ RXU &RPSDQ\ FRQYHUWHG WR D
SXEOLFOLPLWHGFRPSDQ\ZLWKHIIHFWIURP-XO\$IUHVKFHUWL¿FDWH
of incorporation consequent to the change of our name to India Infoline
,QYHVWPHQW6HUYLFHV/LPLWHGZDVJUDQWHGWRRXU&RPSDQ\RQ-XO\
E\WKH5R&0DKDUDVKWUD0XPEDL)XUWKHUWKHQDPHRIWKH&RPSDQ\ZDV
FKDQJHGWR,QGLD,QIROLQH)LQDQFH/LPLWHGSXUVXDQWWR)UHVK&HUWL¿FDWHRI
,QFRUSRUDWLRQGDWHG1RYHPEHULVVXHGE\WKH5R&0DKDUDVKWUD
0XPEDL
2XU&RPSDQ\KDVREWDLQHGDFHUWL¿FDWHRIUHJLVWUDWLRQGDWHG0D\
bearing registration no. - B-13.01792 issued by the RBI to carry on the
activities of a NBFC under section 45 IA of the RBI Act. Based on the
revised regulatory framework prescribed by RBI for NBFCs, our Company
ZDVFODVVL¿HGXQGHUWKHFDWHJRU\³Loan Company-Non Deposit Accepting”
and is a systemically important non-deposit taking NBFC.
II. &KDQJHLQUHJLVWHUHGRI¿FHRIRXU&RPSDQ\
7KHUHJLVWHUHGRI¿FHRIRXU&RPSDQ\ZDV¿UVWO\FKDQJHGIURP1LUORQ
&RPSOH[ RII :HVWHUQ ([SUHVV +LJKZD\ *RUHJDRQ (DVW 0XPEDL ±
0DKDUDVKWUD,QGLDWR1LUORQ&RPSOH[RII:HVWHUQ([SUHVV
+LJKZD\*RUHJDRQ(DVW0XPEDL±0DKDUDVKWUD,QGLDZLWK
effect from October 17, 2006.
7KHUHJLVWHUHGRI¿FHRIRXU&RPSDQ\ZDVIXUWKHUFKDQJHGIURP1LUORQ
FRPSOH[ RII :HVWHUQ ([SUHVV +LJKZD\ *RUHJDRQ (DVW 0XPEDL
WR,,)/+RXVH6XQ,QIRWHFK3DUN5RDG1R93ORW1R%7KDQH
,QGXVWULDO$UHD:DJOH(VWDWH7KDQH±ZLWKHIIHFWIURP$SULO
2010.
7KH 5HJLVWHUHG RI¿FH RI WKH &RPSDQ\ ZDV VXEVHTXHQWO\ FKDQJHG IURP
,,)/ +RXVH 6XQ ,QIRWHFK 3DUN 5RDG 1R 9 3ORW 1R % 7KDQH
,QGXVWULDO$UHD :DJOH (VWDWH 7KDQH ± WR $ WK )ORRU
3DULQHH&UHVFHQ]R&*%ORFN%DQGUD.XUOD&RPSOH[%DQGUD
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INDIA INFOLINE FINANCE LIMITED
III. Capital Structure
1. Details of share capital
The share capital of our Company as at date of this Prospectus is set forth
below:
Share Capital
In `
Authorised Share Capital
3,000,000,000
300,000,000 equity shares of ` 10 each
199,960,000
1,999,600 equity shares of ` 100 each
15,000
150 Preference Shares of ` 100 each
25,000
250 11% Non- cumulative redeemable preference shares of `100 each
Total Authorised Share Capital
3,200,000,000
Issued, Subscribed and Paid-up share capital
2,371,540,300
(TXLW\6KDUHVRI` 10 each
For further details please refer to chapter “Capital Structure” page 19 of the
Prospectus.
2. Our Management
Board of Directors: The general superintendence, direction and management
of our affairs and business are vested in the Board of Directors. We have not
appointed any “manager” within the meaning thereof under the provisions of
the Act. Currently, we have seven (7) Directors on the Board of Directors.
Details relating to Directors
Name
Designation
Mr. V K Chopra
Chairman, Independent Director
Mr. Nirmal Jain
1RQ([HFXWLYH'LUHFWRU
Mr. R. Venkataraman
1RQ([HFXWLYH'LUHFWRU
Mr. Nilesh Vikamsey
Independent Director
Mr. Mahesh Narayan Singh
Independent Director
Mr. Sunil Kaul
Independent Director
Mr. Mukesh Singh
Whole time Director
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Prospectus
3. Our Subsidiaries
India Infoline Housing Finance Limited (“IIHFL”)
,,+)/&,180+3/&ZDVLQFRUSRUDWHGXQGHUWKHSURYLVLRQV
RI&RPSDQLHV$FWDVDPHQGHGRQ'HFHPEHUvide Registration No.
,WLVUHJLVWHUHGZLWKWKH1DWLRQDO+RXVLQJ%DQN³NHB”) as housing
¿QDQFH FRPSDQ\ vide Registration No. 02.0070.09 dated February 3, 2009,
DQGQRWL¿HGDVD¿QDQFLDOLQVWLWXWLRQXQGHU6$5)$(6,$FWvide Government
QRWL¿FDWLRQGDWHG-XQH
7KHUHJLVWHUHGRI¿FHRI,,+)/LVSUHVHQWO\ORFDWHGDV,,)/+RXVH6XQ,QIRWHFK
3DUN5RDG1R93ORW1R%7KDQH,QGXVWULDO$UHD:DJOH(DVW7KDQH
±0DKDUDVKWUD,QGLD
For further details please refer to page 101 of the Prospectus.
4. Debt Equity Ratio
The debt-equity ratio of our Company, on a consolidated basis, prior to this
Issue is based on a total outstanding consolidated debt of ` 92,265 million
and consolidated shareholder funds amounting to `PLOOLRQDVRQ0DUFK
31, 2013.
$VDW0DUFK
Pre issue
Post issue
Particulars
Debt
Long Term Loans
Short Term Loans
34,497
34,497
92,265
Total Debt
Shareholders’ funds
Share Capital
2,372
2,372
Outstanding Stock option
Reserves
13,272
13,272
/HVV0LVFHOODQHRXV([SHQGLWXUH
194
194
Total Shareholders’ funds
15,450
15,450
'HEWWR(TXLW\5DWLR1XPEHURIWLPHV
5.97
6.65
For details on the total outstanding debt of our Company, please refer to the
chapter titled “Financial Indebtedness” beginning on page 236.
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
5. Other Financial Information
Statement of Reformatted Unconsolidated Assets and Liabilities
(` in million)
Particulars
I EQUITY AND LIABILITIES
(1) Shareholders’ funds
(a) Share Capital
(b) Reserve and Surplus
(2) Share application money
pending allotment
1RQ&XUUHQW/LDELOLWLHV
(a) Long-term borrowings
E'HIHUUHGWD[OLDELOLWLHV1HW
(c) Other Long-term liabilities
(d) Long-term provisions
(4) Current liabilities
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
-Borrowings
-Others
(d) Short-term provisions
TOTAL – EQUITY AND
LIABILITIES
II ASSETS
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets
(ii)Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under
development
(b) Non-current investments
F'HIHUUHGWD[DVVHWV1HW
G/RQJWHUPORDQVDGYDQFHV
-Loans
-Others
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and Bank balances
H6KRUWWHUPORDQVDGYDQFHV
-Loans
-Others
(f) Other current assets
Note
As at
As at
No 0DUFK March
As at
March
As at
March
As at
March
237.15
237.15
12,321.39 12,558.54 -
1
2
2,371.54
13,011.79
-
2,371.54
-
2,371.54
-
3
42,946.46
31,437.20
161.55
9,990.30
71.50
10,061.80
1,365.10
-
-
20,339.36
-
-
6,590.00
-
500.00
-
14,000.19
109,540.49
6,407.74
3,170.19
299.51
1,951.90
4
5
6
7
1,250.00
132.06
964.11
2.07
0.15
1,464.26
6WDWHPHQWRI5HIRUPDWWHG 8QFRQVROLGDWHG3UR¿W/RVVHV
(` in million)
Particulars
2011-2012
2010-2011
2009-2010
19
16,145.20
794.62
422.43
4,255.09
263.97
4,519.06
1,623.92
26.43
1,559.70
14.26
20
21
22
1,774.05
1,044.39
4,616.53
149.60
600.24
2,070.42
295.61
192.41
0.63
260.59
253.34
0.36
23
24
319.09
2,541.26
254.11
535.43
110.04
1,194.42
139.39
662.46
271.39
154.25
3.12
(5.34)
10.24
(1.59)
2.69
0.56
0.23
421.48
186.95
1,018.51
Note
No
5HYHQXH
Revenue from operations
Other Income
7RWDO5HYHQXH
Expenses
(PSOR\HHEHQH¿WH[SHQVHV
Finance cost
'HSUHFLDWLRQ DPRUWL]DWLRQ
H[SHQVHV
2WKHUH[SHQVHV
3URYLVLRQV:ULWHRII
Total Expenses
3UR¿W/RVVEHIRUHWD[
7D[H[SHQVHV
&XUUHQW WD[ H[SHQVH IRU
current year
'HIHUUHGWD[
)ULQJHEHQH¿WWD[
&XUUHQW WD[ H[SHQVH UHODWLQJ
to prior years
Total tax expense
3UR¿WORVVIRUWKHSHULRG
Statement of Reformatted Consolidated Assets and Liabilities
Particulars
9
10
11
12
14
15
16
TOTAL
Net worth
Particulars
Note
Share Capital
Reserve and Surplus
/HVV0LVFHOODQHRXVH[SHQGLWXUH
Total
963.95
0.11
19.59
-
699.61
0.22
12.15
-
113.42
-
2.21
-
-
I EQUITY AND LIABILITIES
(1) Shareholders’ funds
(a) Share Capital
(b) Reserve and Surplus
309.99
4,420.15
115.40
3,417.27
30.04
2.21
2,442.06
2.85
1,647.06
5.60
470.01
2,313.07
405.16
15,285.08
932.66
152.36
(2) Share application money
pending allotment
1RQ&XUUHQW/LDELOLWLHV
(a) Long-term borrowings
E'HIHUUHGWD[OLDELOLWLHV1HW
(c) Other Long-term liabilities
(d) Long-term provisions
4,239.77
69.94
3,041.93
107.39
2,266.94
1,000.50
934.69
113.69
1,015.60
274.30
55,950.03
4,172.43
1,033.79
109,540.49
39,526.19
2,496.03
654.39
251.97
326.02
2,371.54
13,011.79
194.23
15,189.10
10,713.30 4,639.36
1,962.31 $VDW0DUFK
2012
2011
2010
2009
2,371.54 2,371.54
237.15
237.15
12,321.39 165.99
12,558.54 (4) Current liabilities
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
-Borrowings
-Others
(d) Short-term provisions
TOTAL – EQUITY AND
LIABILITIES
II ASSETS
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets
(ii) intangible assets
(iii) Goodwill (on Consolidation)
(iv) Capital work-in-progress
(v) Intangible assets under
development
2008-2009
` millions
Note
As at
As at
As at
As at
As at
No 0DUFK 0DUFK 0DUFK 0DUFK 0DUFK
2012
2011
2010
2009
1
2
2,371.54
13,272.33
-
2,371.54
12,076.24
-
2,371.54
-
237.15
12,407.13
12,644.28
-
237.15
12,108.12
-
251.65
32,237.20 11,523.63
11,606.00
1.21
0.43
-
20,339.36
-
-
-
500.00
-
2,474.67 1,250.00
621.73
302.06
16.34
13.95
15,595.20
4
5
6
14,400.19
3,651.92
237.76
112,050.50
8
963.95
0.11
1.75
19.59
-
699.61
0.22
16.42
12.15
-
0.74
37.49
-
-
31.10
4.95
0.91
-
985.40
198.19
INDIA INFOLINE FINANCE LIMITED
29
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
Particulars
Note
As at
As at
As at
No 0DUFK 0DUFK 0DUFK
2012
2011
9
(b) Non-current investments
3,030.02
490.21
10
F'HIHUUHGWD[DVVHWV1HW
314.37
126.12
44.40
G/RQJWHUPORDQVDGYDQFHV 11
-Loans
22,492.74 -Others
2,333.13 12
(e) Other non-current assets
579.90
515.31
302.01
16,425.58
(2) Current assets
(a) Current investments
4,369.77 3,041.93 1,000.52
14
(b) Inventories
69.94
107.39
(c) Trade receivables
15
(d) Cash and Bank balances
2,537.45
H6KRUWWHUPORDQVDGYDQFHV 16
-Loans
39,644.34 19,342.03
-Others
4,257.53 569.73
(f) Other current assets
659.37
335.57
TOTAL - ASSETS
112,050.50 Net worth
Particulars
Note
Share Capital
2,371.54
Reserve and Surplus
13,272.33
/HVV 0LVFHOODQHRXV
194.23
H[SHQGLWXUH
Total
15,449.64
2012
2,371.54
12,076.24
165.99
As at
As at
0DUFK 0DUFK
2010
2009
195.00
22.04
36.64
4,404.30
2,625.91
152.36
934.79
113.69
2,461.10
134.53
1,239.99
126.77
15,595.20
$VDW0DUFK
2011
2010
2,371.54
237.15
12,407.13
12,644.28
2009
237.15
12,108.12
6WDWHPHQWRI5HIRUPDWWHG&RQVROLGDWHG3UR¿WDQG/RVV
` millions
Particulars
5HYHQXH
Revenue from operations
Other Income
7RWDO5HYHQXH
Expenses
(PSOR\HHEHQH¿WH[SHQVHV
Finance cost
'HSUHFLDWLRQ DPRUWLVDWLRQ
H[SHQVHV
2WKHUH[SHQVHV
3URYLVLRQV:ULWHRII
Total Expenses
Note
No
2011-2012
18
19
16,534.14
451.29
20
21
22
1,794.51
24
3UR¿W/RVVEHIRUHWD[
7D[H[SHQVHV
&XUUHQWWD[H[SHQVHIRUFXUUHQW
year
'HIHUUHGWD[
)ULQJHEHQH¿WWD[
&XUUHQW WD[ H[SHQVH UHODWLQJ
to prior years
Total tax expense
3UR¿WORVVIRUWKHSHULRG
2010-2011 2009-2010
2008-2009
4,711.27
5,194.92
1,092.74
149.60
2,213.04
279.93
11.56
424.07
16.44
3,397.45
326.23
1,730.16
263.36
195.35
453.66
1,521.69
859.59
1,042.23
427.62
210.11
3.11
1.49
(22.33)
12.66
14.59
9.64
3.46
850.48
228.08
168.40
922.51
691.19
b.
For further details please refer to page 102 of the Prospectus.
LEGAL AND OTHER INFORMATION
I. Regulations and Policies
For further details please refer to page 336 of the Prospectus
2XWVWDQGLQJOLWLJDWLRQDQGPDWHULDOGHYHORSPHQWV
II. Litigations against our Company
a. Criminal cases
0U 6WKDQPXUWK\9LVKZDQDWKDQ DQG 0V 0HHUD9LVKZDQDWKDQ
30
INDIA INFOLINE FINANCE LIMITED
(“Complainants´ KDYH ¿OHG FULPLQDO FRPSODLQW QXPEHU 0LVF
(“Complaint´LQWKH&RXUWRI0HWURSROLWDQ0DJLVWUDWHth Court, Borivali,
0XPEDL ³Court”) against our Company, IIFL and the directors of our
Company (collectively referred to as the “Accused”) alleging that the
Accused had connived and misappropriated securities entrusted to them,
causing losses of about ` 30 million to the Complainant and thereby
committing offences under section 409, read with section 34 and 113 of
the IPC.
7KH&RXUWWRRNFRJQL]DQFHRIWKH&RPSODLQWvide its order dated February
DQGRUGHUHGDQLQYHVWLJDWLRQE\WKH.DVWXUED0DUJSROLFHVWDWLRQ
LQ ZKLFK WKH $FFXVHG ZHUH H[RQHUDWHG DV WKH GLVSXWH ZDV IRXQG WR EH
civil in nature. The Complainants challenged the investigation report dated
-XO\ DOOHJLQJ WKDW LW ZDV YDJXH DQG PDGH DQ DSSOLFDWLRQ IRU
re-investigation of the Complaint. The Court allowed this application vide
LWV RUGHU GDWHG -DQXDU\ DQG RUGHUHG UHLQYHVWLJDWLRQ 7KH &RXUW
has further issued process under the IPC vide LWV RUGHU GDWHG 0DUFK 2011 (“Order”).
The investigating authorities have submitted the re-investigation report
dated September 26, 2010 stating that there is no prima-facie case against
the Accused. The re-investigation report further recommends that the
Complainants and his representative be prosecuted under section 120B
read with section 211 of the IPC for conspiring against the Accused, so
DV WR SUHVVXUL]H WKH $FFXVHG LQWR ZDLYLQJ RII WKH &RPSODLQDQWV¶ GHELW
balance of ` PLOOLRQZLWKWKH$FFXVHG7KHDFFXVHG¿OHGDQ$SSHDO
(No. 43 of 2011) before the Sessions Court at Dindoshi for setting aside
the issuance of summons. The Sessions court has stayed the proceedings
of the lower Court and the matter is currently pending.
0U'HQ]LHO3HULHUD³Complainant”) has lodged an F.I.R. before the Anand
police station bearing number 269/2012 against our company and several
HPSOR\HHV XQGHU VHYHUDO VHFWLRQV RI ,3& IRU NLGQDSSLQJ H[WRUWLRQ DQG
FDXVLQJ KXUW 7KH FKDUJH VKHHW IRU WKH VDPH KDV QRW \HW EHHQ ¿OHG 7KH
matter is currently pending for further investigations by the concerned
authorities.
Consumer cases
0U0RKG$IVDU.KDQ³Complainant´KDV¿OHGDFRQVXPHUFRPSODLQW
bearing case number 294/12 before the Cuttack Consumer Dispute Redressal
Forum against our company for compensation alleging that our Company
WKUHDWHQHGKLPWRDXFWLRQKLVJROGRUQDPHQWV7KHDSSUR[LPDWHYDOXHRI
the compensation claimed is ` :H KDYH ¿OHG RXU UHSO\ DQG WKH
matter is currently pending.
0U 5DQMLW .XPDU 3UDGKDQ ³Complainant”) has filed a consumer
complaint bearing case number 03/13 before the District Consumer
'LVSXWH 5HGUHVVDO)RUXP .KXUGUD .KDQGDJLULDJDLQVWRXU FRPSDQ\IRU
compensation alleging that our Company has illegally auctioned his gold
RUQDPHQWV ZLWKRXW VHUYLQJ DQ\ QRWLFH WR KLP7KH DSSUR[LPDWH YDOXH RI
the compensation claimed is `PLOOLRQ:HKDYHWR¿OHRXUUHSO\DQG
the matter is currently pending.
0U 6XUHQGUD 5DQL ³Complainant´ KDV ¿OHG D FRQVXPHU FRPSODLQW
bearing case number 1226 before the District Consumer Dispute Redressal
)RUXP<DPXQD1DJDU-DJDGKDULDJDLQVWRXUFRPSDQ\IRUUHVWUDLQLQJWKH
DXFWLRQRIKLVJROGRUQDPHQWV7KHDSSUR[LPDWHYDOXHRIWKHFRPSHQVDWLRQ
claimed is `PLOOLRQ+RZHYHUWKHVDPHKDVDOUHDG\EHHQDXFWLRQHG
DQGZHKDYH¿OHGRXUUHSO\7KHPDWWHULVFXUUHQWO\SHQGLQJ
0U$EKLQDY6KDZ³Complainant´KDV¿OHGDFRQVXPHUFRPSODLQWFDVH
EHDULQJQXPEHUEHIRUHWKH'LVWULFW&RQVXPHU'LVSXWH5HGUHVVDO
Forum, Cuttack against our company for restraining the auction of his
JROGRUQDPHQWV$QLQWHULPRUGHUGDWHG)HEUXDU\KDVEHHQSDVVHG
directing our company to not make any public auction in the particular
JROG ORDQ DFFRXQW:H KDYH WR ¿OH RXU UHSO\ DQG WKH PDWWHU LV FXUUHQWO\
pending.
0U-LELWHVK%HXUD³Complainant´KDV¿OHGDFRQVXPHUFRPSODLQWFDVH
bearing number 29/2013 before the District Consumer Dispute Redressal
Forum, Cuttack against our company for restraining the auction of his
JROGRUQDPHQWV$QLQWHULPRUGHUGDWHG)HEUXDU\KDVEHHQSDVVHG
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
directing our company to not make any public auction in the particular
JROG ORDQ DFFRXQW:H KDYH WR ¿OH RXU UHSO\ DQG WKH PDWWHU LV FXUUHQWO\
pending.
0U6DLPXO0ROOD³Complainant´KDV¿OHGDFRQVXPHUFRPSODLQWEHDULQJ
case number 40/2013 before the District Consumer Dispute Redressal
)RUXP+RZUDKDJDLQVWRXUFRPSDQ\IRUUHIXQGRIKLVJROGRUQDPHQWV$
¿QDQFLDOIDFLOLW\WRWKHWXQHRI` 0.04 million was availed by pledging the
VDLGJROGRUQDPHQWV:HKDYHWR¿OHRXUUHSO\DQGWKHPDWWHULVFXUUHQWO\
pending.
0U 0RKG 6KDNLO$EGXO *DIIDU ³Complainant´ KDV ¿OHG D FRQVXPHU
complaint bearing case number 31/2013 before the District Consumer
'LVSXWH5HGUHVVDO)RUXP.KDQGZDDJDLQVWRXUFRPSDQ\IRUUHIXQGRIKLV
gold ornaments. A loan amount of ` 0.20 million was availed by pledging
WKHVDLGJROG:HKDYHWR¿OHRXUUHSO\DQGWKHPDWWHULVFXUUHQWO\SHQGLQJ
0U 6KULNDQW 6KDUPD ³&RPSODLQDQW´ KDV ¿OHG D FRQVXPHU FRPSODLQW
bearing case number 12/2013 before the District Consumer Dispute
Redressal Forum, Dewas against our company for a refund of his gold
RUQDPHQWV:HKDYHWR¿OHRXUUHSO\DQGWKHPDWWHULVFXUUHQWO\SHQGLQJ
0U5DP.XPDU6KDUPD³Complainant´KDV¿OHGDFRQVXPHUFRPSODLQW
bearing case number 13/2013 before the District Consumer Dispute
Redressal Forum, Dewas against our company for returning his gold
RUQDPHQWV:HKDYHWR¿OHRXUUHSO\DQGWKHPDWWHULVFXUUHQWO\SHQGLQJ
0U *XUSUHHW 6LQJK $OXZDO\D ³Complainant´ KDV ¿OHG D FRQVXPHU
complaint bearing case number 134/2013 before the District Consumer
Dispute Redressal Forum, Dehradun against our company for restraining
WKHDXFWLRQRIKLVJROGRUQDPHQWVDQGKDVREWDLQHGDQRUGHUGDWHG0DUFK
LQUHVSHFWRIWKHVDPH:HKDYHWR¿OHRXUUHSO\DQGWKHPDWWHU
is currently pending.
0V .DQL]D 6DP /RNKDQGZDOD ³Complainant´ KDV ¿OHG D FRQVXPHU
complaint bearing case number 372/2013 before the District Consumer
Dispute Redressal Forum, Surat against our company for refund of penal
interest charges which have been levied against her in respect of the
DFFRXQWZKLFKKDVDOUHDG\EHHQVHWWOHG7KHUHIXQGFODLPHGDSSUR[LPDWHO\
amounts to ` 0.03 million plus interest plus ` 0.01 million compensation.
:HKDYHWR¿OHRXUUHSO\DQGWKHPDWWHULVFXUUHQWO\SHQGLQJ
0U 5DM 6DP /RNKDQGZDOD ³Complainant”) has filed a consumer
complaint bearing case number 373/2013 before the District Consumer
Dispute Redressal Forum, Surat against our company for refund of penal
interest charges which have been levied against him in respect of the
DFFRXQWZKLFKKDVDOUHDG\EHHQVHWWOHG7KHUHIXQGFODLPHGDSSUR[LPDWHO\
amounts to ` 0.07 million plus interest plus ` 0.03 million. We have to
¿OHRXUUHSO\DQGWKHPDWWHULVFXUUHQWO\SHQGLQJ
0U /DMZDQWL9LUDQL ³Complainant´ KDG ¿OHG D FRQVXPHU FRPSODLQW
bearing case no. 116/2013 at the District Consumer Dispute Redressal
Forum, Baroda alleging unfair trade practices by our company and
UHVWUDLQLQJDXFWLRQRIKLVJROG7KH)RUXPSDVVHGDQRUGHUUHMHFWLQJWKH
FODLPVDJDLQVWZKLFKDQDSSHDOQRZDV¿OHGRQ-XQHLQ
WKH6WDWH&RQVXPHU&RPPLVVLRQ*XMDUDW7KHPDWWHULVFXUUHQWO\SHQGLQJ
0U 'L[LW 0DOKRWUD ³Complainant´ KDV ¿OHG D FRQVXPHU FRPSODLQW
bearing case number 360/13 before the District Consumer Dispute Redressal
Forum, New Delhi against our company for compensation alleging that our
Company has illegally auctioned his gold ornaments without intimating
DQGVHUYLQJDQ\DSSURSULDWHQRWLFHWRKLP7KHDSSUR[LPDWHYDOXHRIWKH
compensation claimed is ` 0.13 million. The matter is currently pending.
0U .DYLWD0DOKRWUD ³Complainant´ KDV ¿OHG D FRQVXPHU FRPSODLQW
bearing case number 361/13 before the District Consumer Dispute
Redressal Forum, Delhi against our company alleging that our Company
has illegally auctioned her gold ornaments without intimating and serving
DQ\DSSURSULDWHQRWLFHWRKHU7KHDSSUR[LPDWHYDOXHRIWKHFRPSHQVDWLRQ
claimed is ` 50 million. The matter is currently pending.
0U1RRWDQ6LQJK³Complainant´KDV¿OHGDFRQVXPHUFRPSODLQWEHDULQJ
case number 99/2013 before the District Consumer Dispute Redressal
Forum, Ranchi against our company for holding the auction of her gold
RUQDPHQWV ZLWKRXW SULRU QRWLFH EHLQJ JLYHQ WR KHU :H KDYH WR ¿OH RXU
reply and the matter is currently pending.
c. Civil cases
0U05DPHVKKDV¿OHGDZULWSHWLWLRQEHDULQJQRGDWHGWK
0DUFKEHIRUHWKH+LJK&RXUWRI0DGUDV0DGXUDL%HQFKDJDLQVWRXU
Company under article 226 of the Constitution of India. The Petitioner has
VRXJKWIRUDZULWRI0DQGDPXVDVNLQJWKH&RXUWWRUHVWUDLQRXUFRPSDQ\
IURP DXFWLRQLQJ WKH MHZHOV SOHGJHG ZLWK RXU &RPSDQ\ 7KH PDWWHU LV
currently pending.
0U 9 &KLQQDUDMD KDV ¿OHG D ZULW SHWLWLRQ EHDULQJ QR GDWHG
WK 0DUFK EHIRUH WKH +LJK &RXUW RI 0DGUDV 0DGXUDL %HQFK
against our Company under article 226 of the Constitution of India. The
3HWLWLRQHUKDVVRXJKWIRUDZULWRI0DQGDPXVDVNLQJWKH&RXUWWRUHVWUDLQ
our company from auctioning the gold pledged with our Company. The
matter is currently pending.
0U5DMLE.XPDU.XQGXKDV¿OHGDZULWSHWLWLRQEHDULQJQR
GDWHG VW $XJXVW EHIRUH WKH +LJK &RXUW RI &DOFXWWD DJDLQVW RXU
Company under article 226 of the Constitution of India. The Petitioner has
VRXJKWIRUDZULWRI0DQGDPXVDVNLQJWKH&RXUWWRUHVWUDLQRXUFRPSDQ\
from taking his ornaments pledged with the company in public auction.
The matter is currently pending.
0U056KDQPXJKDQDWKDQKDV¿OHGDZULWSHWLWLRQEHDULQJQR
GDWHG WK 0DUFK EHIRUH WKH +LJK &RXUW RI 0DGUDV DJDLQVW RXU
Company under article 226 of the Constitution of India. The Petitioner has
VRXJKWIRUDZULWRI0DQGDPXVDVNLQJWKH&RXUWWRUHVWUDLQRXUFRPSDQ\
IURP EULQJLQJ WKH MHZHOV SOHGJHG ZLWK RXU &RPSDQ\ IRU DXFWLRQ 7KH
matter is currently pending.
0U'HEDVLV'DVKDV¿OHGDZULWSHWLWLRQEHDULQJQRGDWHGVW
-XO\ EHIRUH WKH +LJK &RXUW RI 2ULVVD DJDLQVW RXU &RPSDQ\ XQGHU
article 226 of the Constitution of India. The Petitioner has sought for a
ZULW DVNLQJ WKH &RXUW WR TXDVK WKH RUGHU RI WHUPLQDWLRQ RI KLV MRE DQG
SURYLGHIRUDSSURSULDWHRUGHUVIRUUHLQVWDWHPHQWRIKLVMRE7KHPDWWHULV
currently pending.
0U$NDVK%DQJD³&RPSODLQDQW´KDV¿OHGDQDSSOLFDWLRQEHIRUHWKH&LW\
Civil Court at Ahmedabad bearing number 242/13 against our company
VHHNLQJ RUGHUV IRU LQMXQFWLRQ DQG VRPH LQWHULP UHOLHI E\ UHVWUDLQLQJ RXU
Company from auctioning his gold under Loan Agreement NO. GL737145.
+RZHYHU WKH VDLG JROG KDV DOUHDG\ EHHQ DXFWLRQHG DQG ZH KDYH WR ¿OH
our reply. The matter is currently pending.
0U$NDVK%DQJD³&RPSODLQDQW´KDV¿OHGDQDSSOLFDWLRQEHIRUHWKH&LW\
Civil Court at Ahmedabad bearing number 240/13 against our company
VHHNLQJ RUGHUV IRU LQMXQFWLRQ DQG VRPH LQWHULP UHOLHI E\ UHVWUDLQLQJ RXU
&RPSDQ\ IURP DXFWLRQLQJ KLV JROG +RZHYHU WKH VDLG JROG KDV DOUHDG\
EHHQ DXFWLRQHG DQG ZH KDYH WR ¿OH RXU UHSO\ 7KH PDWWHU LV FXUUHQWO\
pending.
0V5XFKL%DQJD³&RPSODLQDQW´KDV¿OHGDQDSSOLFDWLRQEHIRUHWKH&LW\
Civil Court at Ahmedabad bearing number 239/13 against our company
VHHNLQJ RUGHUV IRU LQMXQFWLRQ DQG VRPH LQWHULP UHOLHI E\ UHVWUDLQLQJ RXU
&RPSDQ\IURPDXFWLRQLQJKHUJROGXQGHU/RDQ$JUHHPHQW1R*/
+RZHYHU WKH VDLG JROG KDV DOUHDG\ EHHQ DXFWLRQHG DQG ZH KDYH WR ¿OH
our reply. The matter is currently pending.
0V5XFKL%DQJD³&RPSODLQDQW´KDV¿OHGDQDSSOLFDWLRQEHIRUHWKH&LW\
Civil Court at Ahmedabad bearing number 241/13 against our company
VHHNLQJ RUGHUV IRU LQMXQFWLRQ DQG VRPH LQWHULP UHOLHI E\ UHVWUDLQLQJ RXU
Company from auctioning her gold under Loan Agreement No. GL740763.
+RZHYHU WKH VDLG JROG KDV DOUHDG\ EHHQ DXFWLRQHG DQG ZH KDYH WR ¿OH
our reply. The matter is currently pending.
0V5XFKL%DQJD³&RPSODLQDQW´KDV¿OHGDQDSSOLFDWLRQEHIRUHWKH&LW\
&LYLO &RXUW DW$KPHGDEDG EHDULQJ QXPEHU DJDLQVW RXU FRPSDQ\
VHHNLQJ RUGHUV IRU LQMXQFWLRQ DQG VRPH LQWHULP UHOLHI E\ UHVWUDLQLQJ RXU
&RPSDQ\IURPDXFWLRQLQJKHUJROGXQGHU/RDQ$JUHHPHQW1R*/
+RZHYHU WKH VDLG JROG KDV DOUHDG\ EHHQ DXFWLRQHG DQG ZH KDYH WR ¿OH
our reply. The matter is currently pending.
INDIA INFOLINE FINANCE LIMITED
31
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
0U5DMLY1DWZDUODO3DQZDU³&RPSODLQDQW´KDV¿OHGDQDSSOLFDWLRQEHIRUH
the City Civil Court at Ahmedabad bearing number 167/2013 against our
FRPSDQ\ VHHNLQJ RUGHUV IRU LQMXQFWLRQ WR RXU &RPSDQ\ IURP DXFWLRQLQJ
KLV JROG 7KH DSSUR[LPDWH YDOXH RI WKH JROG LV `1.76 million. We have
KRZHYHU¿OHGDQDSSOLFDWLRQXQGHU6HFRIWKH$UELWUDWLRQDQG&RQFLOLDWLRQ
Act, 1997. The matter is currently pending.
0U6DWZLQGHU6LQJK³&RPSODLQDQW´KDV¿OHGDQDSSOLFDWLRQEHIRUHWKH
$GGLWLRQDO &LYLO -XGJH DW $PEDOD DJDLQVW RXU FRPSDQ\ VHHNLQJ RUGHUV
IRU LQMXQFWLRQ DQG VRPH LQWHULP UHOLHI E\ UHVWUDLQLQJ RXU &RPSDQ\ IURP
auctioning his gold ornaments pledged with our Companyunder various
gold account number. The matter is currently pending.
0U1LWHVK6LQJK³&RPSODLQDQW´KDV¿OHGDQDSSOLFDWLRQEHIRUHWKH&LW\
Civil Court at Nagpur bearing number 229/2013 against our company
VHHNLQJ RUGHUV IRU LQMXQFWLRQ UHVWUDLQLQJ RXU &RPSDQ\ IURP DXFWLRQLQJ
KLVJROG:HKDYHKRZHYHU¿OHGDQ$I¿GDYLWLQ5HSO\DQGDQ$SSOLFDWLRQ
XQGHU6HFRIWKH$UELWUDWLRQDQG&RQFLOLDWLRQ$FWGDWHG)HEUXDU\
20, 2013. The matter is currently pending.
0U 0XNHVK7LZDUL ³&RPSODLQDQW´ KDV ¿OHG DQ DSSOLFDWLRQ EHIRUH WKH
&LW\&LYLO&RXUWDW1DJSXUEHDULQJQXPEHUDJDLQVWRXUFRPSDQ\
VHHNLQJRUGHUVIRULQMXQFWLRQUHVWUDLQLQJRXU&RPSDQ\IURPDXFWLRQLQJKLV
gold. The said gold has already been auctioned. The matter is currently
pending.
0V 0RXVXPL$GKLNDU\ ³&RPSODLQDQW´ KDV ¿OHG DQ DSSOLFDWLRQ EHIRUH
the Civil Court at Alipore bearing number 97/2013 against our company
VHHNLQJ RUGHUV IRU SHUPDQHQW LQMXQFWLRQ UHVWUDLQLQJ RXU &RPSDQ\ IURP
DXFWLRQLQJKHUJROG:HKDYHWR¿OHRXUUHSO\DQGWKHPDWWHULVFXUUHQWO\
pending.
0V0XJGD*DQGKL³&RPSODLQDQW´KDV¿OHGDQDSSOLFDWLRQEHDULQJFDVH
number 211/2013 before the City Civil Court, Thane against our company
for compensation, alleging that our Company has terminated her from the
MREZLWKRXWDQ\UHDVRQDQGKDVQRWJLYHQUHOLHYLQJOHWWHU7KHDSSUR[LPDWH
value of the compensation claimed is ` 0.40 million plus interest. We have
WR¿OHRXUUHSO\DQGWKHPDWWHULVFXUUHQWO\SHQGLQJ
0V6KDPSD0DULN³&RPSODLQDQW´KDV¿OHGDQDSSOLFDWLRQXQGHU6HF
of the Arbitration and Conciliation Act, 1997 before the City Civil Court
at Calcutta bearing case number 50/2013 against our Company seeking
orders for restraining our Company from conducting public auction of the
complainants gold. The matter is currently pending.
d. Labour cases
0V 6KDKHHQ ³Complainant´ KDV ¿OHG D FRPSODLQW EHIRUH WKH /DERXU
&RXUWDW%DURGDEHDULQJQXPEHUDJDLQVWRXUFRPSDQ\IRUDVXP
of ` PLOOLRQ GXH DQG SD\DEOH WR KHU DV VDODU\ :H KDYH WR ¿OH RXU
reply and the matter is currently pending for orders
III. Litigation against our Promoter
1. SEBI Notices
6(%,KDGLVVXHGQRWLFHVDQGKDGLQVWLWXWHGDGMXGLFDWLRQSURFHHGLQJVDJDLQVW
,,)/ IRU YLRODWLRQ RI 6(%, 6WRFN %URNHU DQG 6XE EURNHU 5HJXODWLRQV
DQG 6(%, 3URKLELWLRQ RI )UDXGXOHQW DQG 8QIDLU 7UDGH 3UDFWLFHV
Regulations, 1995 videQRWLFHVGDWHG1RYHPEHUDQG6HSWHPEHU
10, 2001 respectively. After enquiry charges against IIFL in both these
matters were dropped vide DGMXGLFDWLRQ RUGHUV GDWHG -XQH DQG
October 15, 2003 respectively.
6(%, KDG LQVWLWXWHG DGMXGLFDWLRQ SUoceedings and IIFL for violation of
6(%, 6WRFN %URNHU DQG 6XE EURNHU 5HJXODWLRQV DQG YLRODWLRQ
RI 6(%, 'HSRVLWRU\ 3DUWLFLSDQW 5HJXODWLRQV DQG 'HSRVLWRULHV
Act, 1996 vide QRWLFHV GDWHG 6HSWHPEHU DQG$XJXVW respectively. IIFL had entered into consent proceedings and proceedings
ZHUH GURSSHG E\ 6(%, E\ SDVVLQJ FRQVHQW RUGHUV GDWHG -XQH DQG0D\UHVSHFWLYHO\
6(%,LQWKHPDWWHURI,)6//LPLWHGvide an interim order dated September
DQG FRQ¿UPDWRU\ RUGHU GDWHG -XQH GLUHFWHG ,QGLD
Infoline Securities Private Limited (erstwhile subsidiary of IIFL which
was subsequently merged with India Infoline Limited) not to buy, sell or
32
INDIA INFOLINE FINANCE LIMITED
deal in securities of a listed company namely IFSL Limited on behalf of
WKH SHUVRQV LGHQWL¿HG LQ WKH VDLG RUGHUV VRPH RI ZKLFK ZHUH FOLHQWV RI
IIFL at that point of time.
6(%, vide an interim order dated October 5, 2005 (“Order 1”) passed
XQGHU VHFWLRQ DQG % RI WKH 6HFXULWLHV DQG ([FKDQJH %RDUG RI
India Act 1992 in the matter of IndTra Deco Limited, had advised among
others, India Infoline Securities Private Limited (erstwhile subsidiary of
IIFL which was subsequently merged with India Infoline Limited) not to
buy, sell or deal in securities of IndTra Deco Limited till further order
Subsequently, videRUGHUGDWHG-XQH³2UGHU´KDGFRQ¿UPHG
WKHDERYHVDLGGLUHFWLRQV/DWHU6(%,videRUGHUGDWHG6HSWHPEHU
revoked the directions passed vide Order 1 and Order 2, and dropped the
pending proceedings.
6(%,videDQRUGHUGDWHG0DUFKLVVXHGLQWKHPDWWHURI/DOLW'XD
DGYLVHG ,,)/ WR H[HUFLVH GXH FDUH VR WKDW RQO\ SHUVRQV ZLWK SURYHQ
credentials of giving fair and truthful information and analysis are allowed
to give advice on its portal so that the portal is not misused by persons
giving advice purely on considerations of personal gains.
6(%,KDGE\WKHIROORZLQJOHWWHUVDGYLVHG,,)/WR
S r. Date
No.
I -XO\
2010
II
III
In initial public offering of Parabolic I I F L c o m p l i a n c e t o
'UXJV /LPLWHG 6(%, DGYLVHG ,,)/ WR avoid recurrence of such
gear up its back office system and mismatches and the same
HQVXUH HI¿FLHQW FRQWURO WR PLQLPL]H ZDVFRQ¿UPHGWR6(%,vide
PAN mismatches while making data ,,)/¶VUHSOLHVGDWHG-XO\
entry in initial public offer biddings 2010 and August 27, 2010.
in future.
-XQH Osian LPG Bottling Limited wherein Complied with the same and
6(%, KDG DGYLVHG ,,)/ WR EH FDUHIXO UHFWL¿HGLQ,,)/¶VV\VWHP
and to ensure that the shares sold /
SXUFKDVHGE\,,)/¶VFOLHQWVDUHFUHGLWHG
GHELWHGWRUHVSHFWLYHFOLHQW¶VDFFRXQW
GLUHFWO\ LQVWHDG RI WKURXJK ,,)/¶V
EHQH¿FLDU\DFFRXQW
February
This notice was pertaining to non bid $VSHU6(%,DGYLFH,,)/KDG
09, 2011
applications in initial public offering resolved the issues
RI&RDO,QGLD/WG6(%,DGYLVHG,,)/
not to act as syndicate member in the
initial public offerings till resolution
of such matter
6(%, E\ LWV DGMXGLFDWLRQ QRWLFH GDWHG 1RYHPEHU KDV DOOHJHG
RIYLRODWLRQRISURYLVLRQVRI6(%,3URKLELWLRQRI)UDXGXOHQWDQG8QIDLU
7UDGH3UDFWLFHVUHODWLQJWR6HFXULWLHV0DUNHW5HJXODWLRQVLQ,,)/¶V
dealings relating to shares of a particular scrip (“Shares”). IIFL has stopped
WUDGLQJLQWKH6KDUHVDVVXEPLWWHGLQUHSO\WR6(%,GDWHG-DQXDU\
6XEVHTXHQWO\ WKH DGMXGLFDWLQJ RI¿FHU YLGH RUGHU GDWHG $SULO GLVPLVVHG WKH DGMXGLFDWLRQ SURFHHGLQJ RQ WKH JURXQG WKDW WKH DOOHJDWLRQ
of violation of the code of conduct under the brokers regulation does not
stand established against IIFL.
6(%, E\ LWV HQTXLU\ QRWLFH QXPEHU (QT36 GDWHG 0DUFK
03, 2010 (“(QTXLU\ 1RWLFH”) has alleged that IIFL is in violation of
SURYLVLRQV RI 6(%, 6WRFN %URNHUV DQG 6XE EURNHUV 5HJXODWLRQV E\ H[HFXWLQJ WUDGHV RQ EHKDOI RI FOLHQWV UHVWUDLQHG IURP EX\LQJ VHOOLQJ
and dealing in the shares of a certain scrip and has asked IIFL to show
cause as to why proceedings should not be initiated under regulation 25
RIWKH6(%,,QWHUPHGLDULHV5HJXODWLRQVDJDLQVW,,)/,,)/UHSOLHG
WR WKH (QTXLU\ 1RWLFH vide OHWWHU GDWHG 0DUFK VWDWLQJ WKDW WKH
debarred entities were responsible for the violation and that IIFL was
unable to detect the violation due to technical problems. Subsequently,
,,)/¿OHGDQDSSOLFDWLRQIRUFRQVHQWZLWK6(%,RQ-XQH6(%,
YLGHLWVOHWWHUGDWHG2FWREHUUHMHFWHGWKHFRQVHQWDSSOLFDWLRQ7KH
matter is pending.
6(%,E\LWVHQTXLU\QRWLFHGDWHG$SULOKDVDOOHJHGRIYLRODWLRQ
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IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
2.
,,)/ KDV FODUL¿HG RQ IDFWXDO LQDFFXUDFLHV DQG KDV VXEPLWWHG D UHSO\ WR
6(%, 6XEVHTXHQWO\ 6(%, YLGH RUGHU GDWHG 0D\ ZDUQHG ,,)/
to be careful and cautious in the conduct of its stock broking activity and
to adhere to and comply with all the statutory provisions while carrying
out its activities in the securities market.
,,)/ KDV ¿OHG DQ DSSHDO $SSHDO 1R EHIRUH WKH 6HFXULWLHV
$SSHOODWH 7ULEXQDO DJDLQVW WKH 6(%, $GMXGLFDWLRQ RUGHU 1R %0$2
GDWHG-DQXDU\SDVVHGE\WKH$GMXGLFDWLQJ2I¿FHUDJDLQVW
India Infoline Securities Limited (merged with India Infoline Limited
w.e.f. February 02, 2007) which, inter alia, alleges that the Appellant has
violated the provisions of Clause A (1) and A(2) of the Code of Conduct
DVVSHFL¿HGLQ6FKHGXOH,,UHDGZLWK5HJXODWLRQRI6(%,6WRFN%URNHUV
6XE%URNHUV5HJXODWLRQV7KHVDLGRUGHUKDVLPSRVHGDSHQDOW\
of `PLOOLRQXQGHUVHFWLRQ+%RI6(%,$FWRQWKH$SSHOODQW7KH
Securities Appellate Tribunal (“SAT”) vide order dated October 1, 2012
XSKHOGWKHRUGHURIWKH$GMXGLFDWLQJ2I¿FHULPSRVLQJDSHQDOW\RI` 0.5
million.
Criminal cases
0 6KDNHHO .KDQ ³Complainant´ ¿OHG D FULPLQDO FRPSODLQW QXPEHU
RI GDWHG -XO\ EHIRUH WKH &RXUW RI$GGLWLRQDO &KLHI
0HWURSROLWDQ 0DJLVWUDWH 3DWLDOD +RXVH 1HZ 'HOKL ³Court”) against
India Infoline Securities Private Limited (currently IIFL) (“Accused 1”),
0U1LUPDO-DLQ³Accused 2´0U59HQNDWUDPDQ³$FFXVHG”) and
0U6DQMD\6KDUPD³Accused 4”) (collectively referred to as “Accused”).
7KH&RPSODLQDQWKDGRSHQHGDGHPDWHULDOL]HGDFFRXQWZLWK$FFXVHGDQG
WUDQVIHUUHG DOO KLV KROGLQJV IURP KLV GHPDWHULDOL]HG DFFRXQW PDLQWDLQHG
ZLWK (OLWH 0DQDJHPHQW 6HUYLFHV 6XEVHTXHQWO\ WKH &RPSODLQDQW FODLPV
WKDW KH GHFLGHG WR FORVH WKH GHPDWHULDOL]HG DFFRXQW ZLWK$FFXVHG EXW
$FFXVHG UHIXVHG WR WUDQVIHU VKDUHV LQWR WKH &RPSODLQDQW¶V DFFRXQW
The Complainant further claims that Accused 1 had illegally and without
DXWKRUL]DWLRQ VROG WKH VKDUHV LQ FRQVSLUDF\ ZLWK $FFXVHG WR DQG
WKXV WKH $FFXVHG FDXVHG ¿QDQFLDO ORVV WR WKH &RPSODLQDQW +HQFH WKH
&RPSODLQDQW¿OHGWKHSUHVHQWFRPSODLQWXQGHUVHFWLRQRIWKH&ULPLQDO
Procedure Code, 1973 praying that the court be pleased to summon and
try the Accused for an offence under section 409, 420 and 120-B of the
,QGLDQ3HQDO&RGH7KH&RPSODLQDQWDOVR¿OHGDQDSSOLFDWLRQXQGHU
section 156 (3) of the Criminal Procedure Code, 1973. Subsequently the
Court videRUGHUGDWHG2FWREHUWRRNFRJQL]DQFHRIWKHRIIHQFH
XQGHUVHFWLRQRIWKH,QGLDQ3HQDO&RGHDQGLVVXHGVXPPRQV
WR WKH $FFXVHG $JJULHYHG $FFXVHG KDG ¿OHG LQGLYLGXDO PLVFHOODQHRXV
FULPLQDOFDVHVEHDULQJQXPEHUV&5/0&1R&5/0&1R
&5/ 0&1R DQG &5/ 0&1R RI EHIRUH WKH +LJK
&RXUWRI'HOKLXQGHUVHFWLRQRIWKH&ULPLQDO3URFHGXUH&RGH
IRU TXDVKLQJ WKH FULPLQDO SURFHHGLQJV SHQGLQJ EHIRUH WKH 0HWURSROLWDQ
0DJLVWUDWH&RXUW3DWLDOD+RXVHLQFULPLQDOFDVHQXPEHURI
The Court vide RUGHU GDWHG -DQXDU\ DGPLWWHG WKH SHWLWLRQV DQG
VWD\HGWKHSURFHHGLQJVRI3DWLDOD+RXVH&RXUW7KHPDWWHUVDUHFXUUHQWO\
pending.
*+&/(PSOR\HHV6WRFN2SWLRQ7UXVW³Complainant´¿OHGDFRPSODLQW
FDVHQXPEHURILQWKHPRQWKRI-XQH³Complaint”) before
WKH &RXUW RI$GGLWLRQDO &KLHI -XGLFLDO 0DJLVWUDWH 3DWLDOD +RXVH &RXUW
New Delhi (“Court”) against India Infoline limited (“Accused 1”), Nirmal
-DLQ ³Accused 2´ .DQWL6LQKD ³$FFXVHG ´ 9HQNDWDUDPDQ5DMDPDQL
(“Accused 4”), ArunkumarPurwar (“Accused 5´1LOHVK6KLYML9LNDPVH\
(“Accused 6´ DQG 1LPLVK 5DPHVK 0HKWD ³$FFXVHG ”) (together
referred to as “Accused”). The trustees of the Complainant had opened
DGHPDWHULDOL]HGDFFRXQWZLWK,,)/DIWHUZKLFKWKH&RPSODLQDQWNHSWRQ
purchasing shares. Subsequently, IIFL vide OHWWHU GDWHG $SULO informed the Complainant of an outstanding debit of `PLOOLRQDQG
WKHH[LVWHQFHRIOLHQRQWKHVKDUHVSXUFKDVHGE\WKH&RPSODLQDQW
The Complainant claims that the said amount was duly paid by the
&RPSODLQDQWDQGODWHURQLWWUDQVSLUHGWKDWWKHFRUUHFWDPRXQWDVUHÀHFWLQJ
in the statement of account of the Complainant was ` PLOOLRQ
Further, the Complainant also alleged that, IIFL instead of refunding the
H[FHVVDPRXQWRI` 2.52 million asked the Complainant to clear the debits
RI ¿YH FRPSDQLHV DQG RQ IDLOXUH ,,)/ VROG RII VKDUHV EHORQJLQJ
WR WKH &RPSODLQDQW LOOHJDOO\ DQG ZLWKRXW DQ\ DXWKRUL]DWLRQ $JJULHYHG
WKH&RPSODLQDQW¿OHGWKH&RPSODLQWWRWU\DQGSXQLVKWKH$FFXVHGXQGHU
VHFWLRQ$%RIWKH,QGLDQ3HQDO&RGH
$JJULHYHGE\WKLVVXPPRQVRUGHUDOOWKH$FFXVHG¿OHGTXDVKLQJSHWLWLRQ
FKDOOHQJLQJWKHVDLG6XPPRQLQJRUGHUEHIRUHWKH'HOKL+LJK&RXUW'HOKL
+LJK&RXUWE\LWVRUGHUGDWHG'HFHPEHUTXDVKHGDQGVHWDVLGH
the complaint /summons against all the directors and Company Secretary on
all the charges/grounds. As against the Company the charges of Cheating
has been dropped and only the charges of Criminal Breach of Trust has
been allowed to be continued.
*+&/ (PSOR\HHV 6WRFN 2SWLRQ 7UXVW ³Petitioner´ ¿OHG D VSHFLDO
OHDYH SHWLWLRQ FULPLQDO EHDULQJ QXPEHU RI GDWHG 0DUFK 2010 (“Petition”) against the order dated December 14, 2009 before the
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0DUFKWRVWD\WKHRSHUDWLRQRIRUGHUGDWHG'HFHPEHU
(“Order´ 7KH 3HWLWLRQHU ¿OHG WKH 3HWLWLRQ DJDLQVW WKH 2UGHU SDVVHG E\
WKH +LJK &RXUW RI 'HOKL SDUWO\ TXDVKLQJ WKH VXPPRQLQJ RUGHU GDWHG
6HSWHPEHU³Order 1´LVVXHGE\WKH0HWURSROLWDQ0DJLVWUDWH
New Delhi summoning IIFL to face trial for the offences under section
406, 409, 415, 477A,34/120B of the IPC. The Order held that no offence
of cheating is made out against IIFL. Supreme Court has dismissed the
6/3 ¿OHG E\ *+&/ E\ DQG RUGHU GDWHG 0DUFK 7KH FDVH LQ
lower court is pending.
*+&/(PSOR\HHV6WRFN2SWLRQ7UXVW³Complainant´¿OHGDFRPSODLQW
FDVHQXPEHURI³Complaint´RQ1RYHPEHUEHIRUH
WKH&RXUWRI$GGLWLRQDO&KLHI-XGLFLDO0DJLVWUDWH3DWLDOD+RXVH&RXUW1HZ
Delhi (“Court”) against IIFL (“Accused 1´0U1LUPDO-DLQ³Accused
2´ 0U .DQWL6LQKD ³$FFXVHG ´ 0U 5 9HQNDWDUDPDQ ³Accused
4´ 0U $UXQ .XPDU 3XUZDU ³Accused 5´ 0U 1LOHVK 9LNDPVH\
(“Accused 6´DQG0U1LPLVK5DPHVK0HKWD³$FFXVHG”) (collectively
referred to as “Accused”). The trustees of the Complainant had opened a
GHPDWHULDOL]HGDFFRXQWZLWK,,)/DIWHUZKLFKWKH&RPSODLQDQWSXUFKDVHG
shares. Subsequently, IIFL vide OHWWHU GDWHG$SULO LQIRUPHG WKH
Complainant of an outstanding debit of `PLOOLRQDQGWKHH[LVWHQFH
of lien on the 2,046,195 shares purchased by the Complainant. The
Complainant claims that the said amount was duly paid by the Complainant
DQGVXEVHTXHQWO\LWWUDQVSLUHGWKDWWKHFRUUHFWDPRXQWDVUHÀHFWLQJLQWKH
statement of account of the Complainant was ` PLOOLRQ )XUWKHU
WKH &RPSODLQDQW DOVR DOOHJHG WKDW ,,)/ LQVWHDG RI UHIXQGLQJ WKH H[FHVV
amount of ` 2.52 million asked the Complainant to clear the debits of
¿YH FRPSDQLHV DQG RQ IDLOXUH ,,)/ VROG VKDUHV EHORQJLQJ WR
WKH &RPSODLQDQW LOOHJDOO\ DQG ZLWKRXW DQ\ DXWKRUL]DWLRQ $JJULHYHG WKH
&RPSODLQDQW ¿OHG WKH &RPSODLQW WR WU\ DQG SXQLVK WKH $FFXVHG XQGHU
VHFWLRQV$DQG%RIWKH,3&7KHPDWWHU
is currently pending.
*+&/(PSOR\HHV6WRFN2SWLRQ7UXVW³&RPSODLQDQW´¿OHGDFRPSODLQW
FDVHQXPEHURIGDWHG1RYHPEHU³&RPSODLQW´EHIRUH
WKH&RXUWRI$GGLWLRQDO&KLHI-XGLFLDO0DJLVWUDWH3DWLDOD+RXVH&RXUW1HZ
'HOKL ³&RXUW´ DJDLQVW ,,)/ ³$FFXVHG ´ 0U 1LUPDO -DLQ ³$FFXVHG
´ 0U .DQWL6LQKD ³$FFXVHG ´ 0U 5 9HQNDWDUDPDQ ³$FFXVHG
´ 0U $UXQ .XPDU 3XUZDU ³$FFXVHG ´ 0U 1LOHVK 9LNDPVH\
³$FFXVHG ´ DQG 0U 1LPLVK 5DPHVK 0HKWD ³$FFXVHG ´ WRJHWKHU
referred to as “Accused”). The trustees of the Complainant had opened a
GHPDWHULDOL]HGDFFRXQWZLWK,,)/DIWHUZKLFKWKH&RPSODLQDQWSXUFKDVHG
VKDUHV6XEVHTXHQWO\,,)/YLGHOHWWHUGDWHG$SULOLQIRUPHGWKH
Complainant of an outstanding debit of `PLOOLRQDQGWKHH[LVWHQFH
of lien on the 2,046,195 shares purchased by the Complainant. The
Complainant claims that the said amount was duly paid by the Complainant
DQG ODWHU RQ LW WUDQVSLUHG WKDW WKH FRUUHFW DPRXQW DV UHÀHFWLQJ LQ WKH
statement of account of the Complainant was ` PLOOLRQ )XUWKHU
WKH &RPSODLQDQW DOVR DOOHJHG WKDW ,,)/ LQVWHDG RI UHIXQGLQJ WKH H[FHVV
amount of ` 2.52 million asked the Complainant to clear the debits of
¿YH FRPSDQLHV DQG RQ IDLOXUH ,,)/ VROG VKDUHV EHORQJLQJ WR
WKH &RPSODLQDQW LOOHJDOO\ DQG ZLWKRXW DQ\ DXWKRUL]DWLRQ $JJULHYHG WKH
INDIA INFOLINE FINANCE LIMITED
33
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
&RPSODLQDQW¿OHGWKH&RPSODLQWDJDLQVWWKH$FFXVHGXQGHUVHFWLRQV
$ DQG % RI WKH ,3&7KH PDWWHU LV FXUUHQWO\
pending.
*+&/(PSOR\HHV6WRFN2SWLRQ7UXVW³&RPSODLQDQW´¿OHGDFRPSODLQW
FDVH QXPEHU RI GDWHG 1RYHPEHU ³&RPSODLQW´ RQ
'HFHPEHUEHIRUHWKH&RXUWRI$GGLWLRQDO&KLHI-XGLFLDO0DJLVWUDWH
3DWLDOD +RXVH &RXUW 1HZ 'HOKL ³&RXUW´ DJDLQVW ,,)/ ³$FFXVHG ´
0U 1LUPDO -DLQ ³$FFXVHG ´ 0U .DQWL6LQKD ³$FFXVHG ´ 0U 5
9HQNDWDUDPDQ ³$FFXVHG ´ 0U $UXQ .XPDU 3XUZDU ³$FFXVHG ´
0U 1LOHVK 9LNDPVH\ ³$FFXVHG ´ DQG 0U 1LPLVK 5DPHVK 0HKWD
(“Accused 7”) (collectively referred to as the “Accused”). The trustees
RIWKH&RPSODLQDQWKDGRSHQHGDGHPDWHULDOL]HGDFFRXQWZLWK,,)/DIWHU
which the Complainant purchased shares. Subsequently, IIFL vide letter
GDWHG$SULO LQIRUPHG WKH &RPSODLQDQW RI DQ RXWVWDQGLQJ GHELW
of ` PLOOLRQ DQG WKH H[LVWHQFH RI OLHQ RQ WKH VKDUHV
purchased by the Complainant. The Complainant claims that the said
amount was duly paid by the Complainant and subsequently, it transpired
WKDW WKH FRUUHFW DPRXQW DV UHÀHFWLQJ LQ WKH VWDWHPHQW RI DFFRXQW RI WKH
Complainant was `PLOOLRQ)XUWKHUWKH&RPSODLQDQWDOVRDOOHJHG
WKDW,,)/LQVWHDGRIUHIXQGLQJWKHH[FHVVDPRXQWRI` 2.52 million asked
WKH&RPSODLQDQWWRFOHDUWKHGHELWVRI¿YHFRPSDQLHVDQGRQIDLOXUH,,)/
sold off the 266,727 shares belonging to the Complainant illegally and
ZLWKRXWDQ\DXWKRUL]DWLRQ$JJULHYHGWKH&RPSODLQDQW¿OHGWKH&RPSODLQW
DJDLQVW WKH $FFXVHG XQGHU VHFWLRQV $ DQG
120B of the IPC. The matter is currently pending.
6DGDVKLY3DQGXUDQJ0DQWUL ³&RPSODLQDQW´ ¿OHG D FRPSODLQW EHIRUH WKH
.RWKUXG SROLFH VWDWLRQ DJDLQVW ,,)/ GLUHFWRU0U 1LUPDO-DLQ HPSOR\HH
9LMD\%KDWLD6XMLW%DQMDPLQ*XUGHHS6LQJKHPSOR\HHRI,,)/FROOHFWLYHO\
referred to as the “Accused”), alleging that the Accused had done
XQDXWKRUL]HGEX\LQJDQGVHOOLQJRIVKDUHVIURPWKHDFFRXQWRIWKH$FFXVHG
7KHFRPSODLQWZDV¿OHGDOOHJLQJDQRIIHQFHXQGHUVHFWLRQV
DQG RI WKH ,3& 7KH $XWKRULW\ DIWHU WKH LQYHVWLJDWLRQ ¿OHG WKH
¿QDOUHSRUWZLWKWKH-XGLFLDO0DJLVWUDWH&ODVV,³&RXUW´VWDWLQJWKDWWKH
allegations of the Complainant are false and that the said complaint was
¿OHG ZLWK WKH LQWHQWLRQ RI JHWWLQJ UHIXQG IURP ,,)/ 'HVSLWH RI QHJDWLYH
UHSRUWRIWKH3ROLFHWKH+RQ¶EOH&RXUWKDGSDVVHGRUGHURILVVXDQFHSURFHVV
and accordingly summons were issued against the accused. Therefore the
&RPSDQ\ KDG ¿OHG 5HYLVLRQ $SSOLFDWLRQ QR GDWHG -XO\ DJDLQVW WKH RUGHU µLVVXDQFH RI SURFHVV¶ 7KH 5HYLVLRQ $SSOLFDWLRQ
LV DOORZHG DQG ORZHU FRXUW SURFHHGLQJ LV VWD\HG E\ WKH +RQ¶EOH &RXUW
The case is pending.
0U 6WKDQPXUWK\9LVKZDQDWKDQ WKURXJK 0V 0HHUD9LVKZDQDWKDQ
(“Complainant´ KDV ¿OHG FULPLQDO FRPSODLQW GDWHG -DQXDU\ EHDULQJQXPEHU0LVF³Complaint´LQWKH&RXUWRI0HWURSROLWDQ
0DJLVWUDWHth&RXUW%RULYDOL0XPEDL³Court”) against our Company,
IIFL and the directors of our Company (collectively referred to as the
“Accused”) alleging that the Accused had connived and misappropriated
securities entrusted to the Accused, causing losses of about ` 30 million
to the Complainant and thereby committing offences under section 409,
read with sections 34 and 113 of the IPC.
7KH&RXUWWRRNFRJQL]DQFHRIWKH&RPSODLQWvide its order dated February
DQGRUGHUHGDQLQYHVWLJDWLRQE\WKH.DVWXUED0DUJSROLFHVWDWLRQ
LQ ZKLFK WKH $FFXVHG ZHUH H[RQHUDWHG DV WKH GLVSXWH ZDV IRXQG WR EH
civil in nature. The Complainant challenged the investigation report dated
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re-investigation of the Complaint. The Court allowed this application vide
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The police station has submitted the re-investigation report dated September
26, 2010 stating that there is no prima-facie case against the Accused
under the Act. The re-investigation report further recommends that the
Complainant and his representative be prosecuted under section 120B read
with section 211 of the IPC for conspiring against the Accused, so as to
SUHVVXUL]HWKH$FFXVHGLQWRZDLYLQJRIIWKH&RPSODLQDQW¶VGHELWEDODQFH
of ` 1.22 million. The Court has without considering the Reinvestigation
34
INDIA INFOLINE FINANCE LIMITED
Report, issued process under various sections of IPC vide its order dated
0DUFK³Order”).
7KH DFFXVHG ¿OHG DQ$SSHDO 1R RI RQ -XO\ EHIRUH WKH
Sessions Court at Dindoshi for setting aside the issuance of summons.
The Sessions court has stayed the proceedings of the lower Court and
the matter is currently pending.
0U6DW\DSUDNDVK$JDUZDODQG)DPLO\³Complainants”) lodged a complaint
GDWHG 0DUFK ³Complaint´ ZLWK WKH -RLQW &RPPLVVLRQHU RI
Police against IIFL. The Complainants claims that IIFL had caused a
loss to them through their agreement which confers all rights to IIFL to
deal with the Complainants shares as they wish. Further the Complainant
alleges IIFL of selling their shares at throwaway prices in the name of
recovery of margin money resulting in a loss of `6.3 million. Aggrieved
WKH &RPSODLQDQW ¿OHG WKH &RPSODLQW UHTXHVWLQJ WKH DXWKRULW\ WR WDNH
DSSURSULDWH DFWLRQ DJDLQVW WKH PDQDJLQJ GLUHFWRU DQG VHQLRU RI¿FHUV RI
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all the allegation of the complainant and requested to closed the matter.
The matter is currently pending.
0U$DUWL*XQMLNDU ³Complainant”) lodged a complaint number CR. No.
GDWHG-DQXDU\³Complaint”) with Bandra police station
DJDLQVW,,)/0U9LQLW.XPDU0U1LUPDO-DLQ0U59HQNDWDUDPDQ0U
1LWLQ.KDQGHOZDO0U6DQGHVK1DQGRGHDQG0U&KLQWDQ0RGLFROOHFWLYHO\
the “Accused”) under sections 409, 420, 506 and 120 (B) of the IPC.
6XEVHTXHQWO\0U1LWLQ.KDQGHOZDODQG0U59HQNDWDUDPDQZHUHDUUHVWHG
E\ WKH SROLFH RQ$SULO DQG -XO\ UHVSHFWLYHO\ 2Q -XO\
16, 2009 the Complainant entered into a settlement with the Accused
whereby the Complainant agreed to withdraw her Complaint against the
Accused on the payment of `PLOOLRQ$QDSSOLFDWLRQIRUEDLOQXPEHU
%$ GDWHG$SULO ZDV ¿OHG LQ WKH &RXUW RI WKH$GGLWLRQDO
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437 of the Code of Criminal Procedure, 1973 (“Code”) on for the release
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Venkataraman were released from police detention after a period of 3 days.
IIFL in a letter dated February 25, 2010 to the Additional Commissioner
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Complainant had leveled false charges of cheating, criminal breach of
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directed that the investigating authorities should not take any coercive
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further, IIFL was investigated under the Act. The Complainant alleges IIFL
of not keeping or maintaining records and registers which is a punishable
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that action be taken against the Accused under section 9 (b) of the Act.
The matter is currently pending.
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
0U'30DNZDQD³Complainant´¿OHGDFULPLQDOFDVHQXPEHU
dated April 12, 2010 (“Complaint´ EHIRUH WKH &KLHI 0HWURSROLWDQ
0DJLVWUDWH DW $KPHGDEDG DJDLQVW ,,)/ DQG 0U 1LUPDO -DLQ WRJHWKHU
referred to as the “Accused”). The Complainant alleged IIFL of violating
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committed an offence punishable under Section 30(1)(c) read with Section
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by apprentices. The Complainant further alleged IIFL of having saved an
amount of ` PLOOLRQ SD\DEOH WRZDUGV VWLSHQG E\ QRW ¿OOLQJ XS WKH
posts of apprentices during the period from August 1, 2009 to October
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Complaint praying that action be taken against the Accused and the
Accused be punished considering the evidence. The matter is currently
pending.
0V&KDQGUDQL 6KDZ ³Complainant”) filed a complaint number C
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IIFL) (“Accused”). The Complainant had opened a demat account with
IIFL. The Complainant alleges the Accused of entering into a criminal
conspiracy and thereby inducing the Complainant of delivering cheque for
purchase of shares on the condition that the cheque could be encashed only
on the consent of the Complainant and that the Accused had withdrawn
an amount of ` 0.27 million from the Complainants account without her
FRQVHQW +HQFH DJJULHYHG WKH &RPSODLQDQW ¿OHG WKH SUHVHQW FRPSODLQW
praying that the complaint be sent to O/S Bhowanipore Police Station
for treating the same as an FIR under section 156 (3) of the Criminal
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Bhowanipore Police Station for treating the same as an FIR and to start
LQYHVWLJDWLRQ DQG VXEPLW UHSRUW WR WKH &KLHI -XGLFLDO 0DJLVWUDWH XQGHU
VHFWLRQV % RI WKH ,QGLDQ 3HQDO &RGH The matter is currently pending.
(QVHPEOH³Complainant´¿OHGDFULPLQDOFRPSODLQWEHDULQJ&&1R
RI6:RIRQ$XJXVWEHIRUHWKH0HWURSROLWDQ0DJLVWUDWHWK
Court (“Court´'DGDUDJDLQVWWKHGLUHFWRUVRI,,)/LQFOXGLQJ0U1LUPDO
-DLQ 0U 1LOHVK9LNDPVH\ 0U 59HQNDWUDPDQDQG 0U$UXQ . 3XUZDU
(“Accused”) alleging offences under sections 403, 406, 420, 504, 506
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WKH &RPSODLQDQW WR FDUU\ RXW LQWHULRU GHVLJQLQJ ZRUN DW ,,)/¶V RI¿FH DW
Indiabulls, Lower Parel. The Complainant alleged the Accused of illegally
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the Complainant. The Complainant further alleges the Accused of having
illegally misappropriated the valuable property of the Accused for their
personal use. Further, the Complainant alleges the Accused of cheating,
misappropriation of funds, criminal breach of trust etc. Aggrieved the
&RPSODLQDQW¿OHGWKH&RPSODLQWIRULQLWLDWLQJLQYHVWLJDWLRQXQGHUVHFWLRQ
156(3) of Criminal Procedure Code. The Court ordered for Investigation
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0DUJ 3ROLFH VWDWLRQ ³Authority´ 6XEVHTXHQWO\ WKH$XWKRULW\ ¿OHG LWV
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is civil in nature. The matter is currently pending before the Court for
acceptance of the police report and Argument on report.
0U *DXWDP$QLO.XPDU&KDNUDEHUW\ ³Complainant”) lodged a first
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Police Station, Nashik against IIFL alleging offence under section 420,
RIWKH,QGLDQ3HQDO&RGH7KH&RPSODLQDQWKDGDFFXVHG,,)/
RIPLVDSSURSULDWLQJWKH&RPSODLQDQW¶VVKDUHV,,)/KDV¿OHGDUHSO\GDWHG
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Complainant was aware of the matter at all the time and the complaint is
false and malicious. On August 03, 2013 the Company also received Notice
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and documents. The matter is currently pending.
15. A First Information Report (Case No. 200) has been registered on August
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*XSW DUH HPSOR\HHV RI ,,)/ LQ WKH /DNH 3ROLFH VWDWLRQ .RONDWD RQ WKH
EDVLV RI DFRPSODLQWPDGHE\ RQH0U$UXQDYD3DWUDXQGHUVHFWLRQV
153Aand 114 of the IPC All the Accused have been granted bail by an
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The case is pending.
16. An FIR (No. 1651/2011) has been registered against IIFL on September 21,
RQWKHEDVLVRIDFRPSODLQW¿OHGE\3%DODNULVKQDQLQWKH7KULNNDNDUD
Police station, Aluva for the offences of misappropriation, criminal breach
of trust, cheating, forgery etc. u/s 403,405,406, 409, 420,463, 464, 465,
DQGRI,3&7KHFDVHLVSHQGLQJ
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&U0$RIGDWHG1RYHPEHUXQGHU6HFWLRQRIWKH
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is currently pending.
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LWV GLUHFWRUV IRU XQDXWKRUL]HG WUDGH LQ WKH :DJOH 3ROLFH 3ROLFH 6WDWLRQ
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of the complainant. The Complaint is currently pending.
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directed the Santacrus Police Station to conduct an enquiry into the matter.
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allegations of the complainant. Accordingly Police had submitted their
report. The case is pending for argument on Report and for order.
$FRPSODLQWKDVEHHQ¿OHGE\0U/D[PLQDUD\DQ6RQLLQWKH*KDQWDJKDU
3ROLFH6WDWLRQDW8GDLSXUDJDLQVW,,)/XVDQG
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allegation of the Complainant. No further correspondence or requirement
by police authority. The case is currently pending.
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'HSXW\&RPPLVVLRQHURI3ROLFH(FRQRPLF2IIHQFHV:LQJ&ULPH%UDQFK
Nagpur against IIFL for misuse of her IRDA License, forgery, criminal
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to get FIR registered against the directors of the company. The case is
currently pending.
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DJDLQVW0U$UXQ3XQL\D%UDQFK0DQDJHU0U$PDQ&KDGGD6DOHV0DQDJHU
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pending.
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2IIHQFHV :LQJ $]DG 0DLGDQ 3ROLFH 6WDWLRQ 0XPEDL ZLWK UHJDUG WR D
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matter is pending.
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$GGLWLRQDO&KLHI-XGLFLDO0DJLVWUDWH0HHUXW³Magistrate”) against IIFL,
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INDIA INFOLINE FINANCE LIMITED
35
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
WR ¿OH D GLVFKDUJH DSSOLFDWLRQ EHIRUH WKH 0DJLVWUDWH DQG IXUWKHU GLUHFWHG
that no coercive action shall be taken against the Accused for a period
of 4 months or till the disposal of application whichever is earlier. The
matter is currently pending.
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0DJLVWUDWH UG &RXUW .RONDWD DJDLQVW ,QGLD ,QIROLQH /LPLWHG RWKHUV
seeking protective action from the police due to allegedly coercive acts
of the agents of IIFL. The matter is pending.
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has provided required information and documents to the concerned Police
authorities. After enquiry FIR No. 464/2012 registered on November 23,
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Infoline ltd at Borivali Police Station. The enquiry is in process and case
is pending.
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Letter dated October 05, 2011 to the concerned Authority. The matter is
currently pending.
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all the required documents vide letter dated November 02, 2011 to the
concerned authority. The matter is currently pending.
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Inspector, Navrangpura Police station, Ahmedabad u/s 91 of Cr. P. C.
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required information/documents vide Letter dated February 13, 2012 to
the concerned Authority. The matter is currently pending
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information and documents have been submitted. The matter is currently
pending.
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case is pending.
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1RZDVUHJLVWHUHGXVRI,3&DJDLQVWWKH
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04, 2012 denied all the allegations and provided all require information/
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pending.
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IIFL at CItyPlawal Police Station, Delhi for unauthorised trade in his
account. Accordingly letter/notice dated September 10, 2012 has been sent
to the Company for provide certain documents/ information of account
RI 0U 'LQHVK .XNUHMD 7KH &RPSDQ\ KDG ¿OHG LWV UHSO\ GDWHG 2FWREHU
30, 2012 . The case is pending.
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complaint against IIFL for unauthorised trading and forged signatures. The
Company is in process of collating documents which are asked by Police
Authority. The case is pending
36
INDIA INFOLINE FINANCE LIMITED
0U0RKLQGHU6LQJKKDG¿OHGFRPSODLQWDJDLQVW,,)/DQGDFFRUGLQJO\),5
1RGDWHG6HSWHPEHUZDVUHJLVWHUHGDJDLQVW,,)/,,)/
received Notice dated October 12, 2012 to provide certain documents and
information. IIFL submitted required documents vide reply dated October
23, 2012. The case is pending.
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LWV GLUHFWRUV HPSOR\HH IRU WKH RIIHQVHV RI EUHDFK RI WUXVW FKHDWLQJ
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RUGHU XV $FFRUGLQJO\ RQ 0D\ WKH ),5 1R was registered against the directors and employee of IIFL. The Case is
pending.
For details on litigations by our Company, of our Directors and Civil/
Labour litigations pertaining to our Promoter, please refer to the chapter
titled “Outstanding Litigations” on page 304 of the Prospectus.
OTHER REGULATORY AND STATUTORY DISCLOSURES
1. Authority for the Issue
At the meeting of the Board of Directors of our Company, held on August
21, 2013 the Directors approved the issue of NCDs to the public up to
DQDPRXQWQRWH[FHHGLQJ` 12,000 million.
2. Prohibition by SEBI
Our Company, persons in control of our Company and/or our Promoter
KDYHQRWEHHQUHVWUDLQHGSURKLELWHGRUGHEDUUHGE\6(%,IURPDFFHVVLQJ
the securities market or dealing in securities and no such order or direction
is in force. Further, no member of our promoter group has been prohibited
RU GHEDUUHG E\ 6(%, IURP DFFHVVLQJ WKH VHFXULWLHV PDUNHW RU GHDOLQJ LQ
securities due to fraud.
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Disclaimer Clause of NSE
AS REQUIRED, A COPY OF THIS OFFER DOCUMENT HAS
BEEN SUBMITTED TO NATIONAL STOCK EXCHANGE OF
INDIA LIMITED (HEREINAFTER REFERRED TO AS NSE). NSE
+$6*,9(19,'(,76/(77(55()16(/,67<'$7('
6(37(0%(5 3(50,66,21 72 7+( ,668(5 72 86(
THE EXCHANGE’S NAME IN THIS OFFER DOCUMENT AS
ONE OF THE STOCK EXCHANGES ON WHICH THIS ISSUER’S
SECURITIES ARE PROPOSED TO BE LISTED. THE EXCHANGE
HAS SCRUTINIZED THIS DRAFT OFFER DOCUMENT FOR
ITS LIMITED INTERNAL PURPOSE OF DECIDING ON THE
MATTER OF GRANTING THE AFORESAID PERMISSION TO
THIS ISSUER. IT IS TO BE DISTINCTLY UNDERSTOOD THAT
THE AFORESAID PERMISSION GIVEN BY NSE SHOULD NOT
IN ANY WAY BE DEEMED OR CONSTRUED THAT THE OFFER
DOCUMENT HAS BEEN CLEARED OR APPROVED BY NSE;
NOR DOES IT IN ANY MANNER WARRANT, CERTIFY OR
ENDORSE THE CORRECTNESS OR COMPLETENESS OF ANY
OF THE CONTENTS OF THIS OFFER DOCUMENT; NOR DOES IT
WARRANT THAT THIS ISSUER’S SECURITIES WILL BE LISTED
OR WILL CONTINUE TO BE LISTED ON THE EXCHANGE; NOR
DOES IT TAKE ANY RESPONSIBILITY FOR THE FINANCIAL
OR OTHER SOUNDNESS OF THIS ISSUER, ITS PROMOTERS,
ITS MANAGEMENT OR ANY SCHEME OF PROJECT OF THIS
ISSUER.
EVERY PERSON WHO DESIRES TO APPLY FOR OR OTHERWISE
ACQUIRE ANY SECURITIES OF THIS ISSUER MAY DO SO
PURSUANT TO INDEPENDENT INQUIRY, INVESTIGATION
AND ANALYSIS AND SHALL NOT HAVE ANY CLAIM AGAINST
THE EXCHANGE WHATSOEVER BY REASON OF ANY LOSS
WHICH MAY BE SUFFERED BY SUCH PERSON CONSEQUENT
72 25 ,1 &211(&7,21 :,7+ 68&+ 68%6&5,37,21
ACQUISITION WHETHER BY REASON OF ANYTHING STATED
OR OMITTED TO BE STATED HEREIN OR ANY OTHER REASON
WHATSOEVER.”
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
Disclaimer Clause of BSE
BSE LIMITED (“THE EXCHANGE”) HAS GIVEN VIDE ITS
/(77(5 '$7(' 6(37(0%(5 3(50,66,21 72 7+,6
COMPANY TO USE THE EXCHANGE’S NAME IN THIS OFFER
DOCUMENT AS ONE OF THE STOCK EXCHANGES ON WHICH
THIS COMPANY’S SECURITIES ARE PROPOSED TO BE LISTED.
THE EXCHANGE HAS SCRUTINIZED THIS OFFER DOCUMENT
FOR ITS LIMITED INTERNAL PURPOSE OF DECIDING ON THE
MATTER OF GRANTING THE AFORESAID PERMISSION TO
7+,6&203$1<7+((;&+$1*('2(6127,1$1<0$11(5
a) WARRANT, CERTIFY OR ENDORSE THE CORRECTNESS OR
COMPLETENESS OF ANY OF THE CONTENTS OF THIS DRAFT
OFFER DOCUMENT; OR
b) WARRANT THAT THIS COMPANY’S SECURITIES WILL
BE LISTED OR WILL CONTINUE TO BE LISTED ON THE
EXCHANGE; OR
c) TAKE ANY RESPONSIBILITY FOR THE FINANCIAL OR
OTHER SOUNDNESS OF THIS COMPANY, ITS PROMOTERS,
ITS MANAGEMENT OR ANY SCHEME OR PROJECT OF THIS
COMPANY;
AND IT SHOULD NOT FOR ANY REASON BE DEEMED OR
CONSTRUED THAT THIS OFFER DOCUMENT HAS BEEN
CLEARED OR APPROVED BY THE EXCHANGE. EVERY
PERSON WHO DESIRES TO APPLY FOR OR OTHERWISE
ACQUIRES ANY SECURITIES OF THIS COMPANY MAY DO SO
PURSUANT TO INDEPENDENT INQUIRY, INVESTIGATION AND
ANALYSIS AND SHALL NOT HAVE ANY CLAIM AGAINST THE
EXCHANGE WHATSOEVER BY REASON OF ANY LOSS WHICH
MAY BE SUFFERED BY SUCH PERSON CONSEQUENT TO OR
,1 &211(&7,21 :,7+ 68&+ 68%6&5,37,21$&48,6,7,21
WHETHER BY REASON OF ANYTHING STATED OR OMITTED
TO BE STATED HEREIN OR FOR ANY OTHER REASON
WHATSOEVER.
Disclaimer Clause of RBI
THE COMPANY IS HAVING A VALID CERTIFICATE OF
REGISTRATION DATED MAY 12, 2005BEARING REGISTRATION
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HOWEVER, RBI DOES NOT ACCEPT ANY RESPONSIBILITY
OR GUARANTEE ABOUT THE PRESENT POSITION AS TO
THE FINANCIAL SOUNDNESS OF THE COMPANY OR FOR
THE CORRECTNESS OF ANY OF THE STATEMENTS OR
REPRESENTATIONS MADE OR OPINIONS EXPRESSED BY THE
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Disclaimer in Respect of Jurisdiction
The Issue is being made in India, to Foreign Institutional Investors and
sub-accounts (other than a sub account which is a foreign corporate or
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funds with minimum corpus of ` 25 crores, which are authorised to invest
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an individual.
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possession the Prospectus and the respective Prospectus comes is required
to inform himself or herself about, and to observe, any such restrictions.
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registration requirements of the Securities Act and applicable state securities
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may not be forwarded or distributed to any other person and may not
be reproduced in any manner whatsoever, and in particular, may not be
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the NCDs in an “offshore transaction” in accordance with Regulation S and
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all applicable securities laws.
EU disclaimer
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with any amendments) and implementing measures thereto, (the “Prospectus
Directive”) has been or will be made in respect of the Issue or otherwise
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provided that no such offer shall result in a requirement to publish or
supplement a prospectus pursuant to the Prospectus Directive, in respect
of the Issue or otherwise in respect of the NCDs.
Any forwarding, distribution or reproduction of this document in whole
or in part is unauthorised. Failure to comply with this directive may
result in a violation of the Securities Act or the applicable laws of other
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this Prospectus.
4. Listing
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INDIA INFOLINE FINANCE LIMITED
37
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
5.
6.
7.
9.
10.
without interest, all moneys received from the applicants in pursuance
of this Prospectus.
Our Company shall ensure that all steps for the completion of the necessary
formalities for listing and commencement of trading at all the Stock
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date of allotment.
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subscription to any one or more of the Options, such NCDs with Option(s)
shall not be listed.
Consents
The written consents of Directors of our Company, Company Secretary
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Refund Bank, Credit Rating Agencies, the Bankers to our Company,
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Trustee, and the Lead Brokers to act in their respective capacities, have
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the RoC as required under Section 56 and 60 of the Companies Act and
such consents have not been withdrawn up to the time of delivery of this
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The consents of the Statutory Auditors of our Company, namely Sharp
and Tannan Associates, Chartered Accountants for (a) inclusion of their
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Expert Opinion
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August 23, 2013 and Brickworks dated August 27, 2013 in respect of the
credit ratings issued thereby for this Issue which furnishes the rationale
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Common form of Transfer
We undertake that there shall be a common form of transfer for the NCDs
and the provisions of the Companies Act and all applicable laws shall be
duly complied with in respect of all transfer of debentures and registration
thereof.
Minimum Subscription
If our Company does not receive the minimum subscription of 75% of
the Base Issue, i.e. ` 3,937.50 million, the entire subscription shall be
refunded to the applicants within twelve (12) Working Days from the
date of closure of the Issue. If there is delay in the refund of subscription
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subscription amount, our Company will pay interest for the delayed period,
at rates prescribed under sub-sections (2) and (2A) of Section 73 of the
Companies Act.
Filing of the Draft Prospectus
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dissemination on their website(s).
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Section 117C of the Act states that any company that intends to issue
debentures must create a DRR to which adequate amounts shall be credited
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2002, (“Circular´VSHFL¿HGWKDWWKHTXDQWXPRI'55WREHFUHDWHGEHIRUH
the redemption liability actually arises in normal circumstances should
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INDIA INFOLINE FINANCE LIMITED
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Redemption amount, (if not already paid), till the debentures are redeemed
and cancelled. The limits provided under the said Circular has undergone
revision vide 0LQLVWU\ RI &RPSDQ\$IIDLUV *HQHUDO &LUFXODU 1R 1R &/9 $ GDWHG )HEUXDU\ ZKLFK VSHFL¿HV WKDW
NBFCs like our Company, (NBFCs which are registered with the RBI
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25 per cent of the value of the debentures issued through public issue.
Accordingly our Company is required to create a DRR of 25% of the
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by the Circular, the amount to be credited as DRR will be carved out of
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and there is no obligation on the part of our Company to create DRR
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are redeemed.
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11/02/2012-CL-V(A) dated February 11, 2013 further provides that every
company required to create/maintain DRR shall before the 30th day of
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in anyone or more of the following methods, namely
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in unencumbered securities of the Central Government or of any State
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for any purpose other than for the repayment of debentures maturing during
the year referred to above, provided that the amount remaining deposited
or invested, as the case may be, shall not at any time fall below 15 per
cent of the amount of debentures maturing during the 31stGD\RI0DUFK
of that year.
Issue Related Expenses
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full subscription including the retention of over subscription of upto `
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Printing, Stationery and Distribution
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Total
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actual level of subscription to the Issue and the number of Allottees, market
conditions and other relevant factors.
12. Underwriting
The Issue has not been underwritten.
Details regarding the public issue during the last three years by our
Company and other listed companies under the same management
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There are no public or rights or composite issue of capital by listed
companies under the same management within the meaning of Section
370(1) (B) of the Companies Act during the last three years.
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
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Our Company has made the following Public Issue of debentures and
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Date of
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Allotment
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Value (TXLW\6KDUH consideration
The agreement between the Registrar to the Issue and our Company will
Debentures (in `) Debentures (in `)
provide for retention of records with the Registrar to the Issue for a period
)HEUXDU\ Rights Issue of
10
1,014 Cash
of at least three years from the last date of despatch of the Allotment
equity Shares
Advice, demat credit and refund orders to enable the investors to approach
-XO\ Public issue of
7,500,000 1,000
1,000 Cash
the Registrar to the Issue for redressal of their grievances.
debentures
All grievances relating to the Issue may be addressed to the Registrar to
August 27, 2012 Public issue of
5,00,000 1,000
1,000 Cash
debentures
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to the Issue, giving full details such as name, address of the applicant,
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number of NCDs applied for, amount paid on application and the details
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Other than the issue of 7,500,000 Secured Redeemable Non-Convertible
the application was submitted. The contact details of Registrar to the Issue
Debentures of face value of ` 1,000 each aggregating to ` 7,500 million in
are as follows:
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Debentures of face value of ` 1,000 each aggregating to ` 5,000 million
Link Intime India Private Limited
in the year 2012- 2013 our Company has previously not made any public
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not issued any securities for consideration other than cash.
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the public issue of un-secured non convertible debentures of face value `
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1,000.00 each aggregating to ` 5,000.00 million pursuant to the prospectus
We estimate that the average time required by us or the Registrar to the
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Issue for the redressal of routine investor grievances will be 7 (seven)
15. Stock Market Data
business days from the date of receipt of the complaint. In case of non2XU1RQ&RQYHUWLEOH'HEHQWXUHVDUHFXUUHQWO\OLVWHGRQ%6(DQG16($V
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16. Debentures or bonds and redeemable preference shares and other
Company are as follows:
instruments issued by our Company and outstanding
Mr. Manish Mishra
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secured/ unsecured, non-convertible redeemable debentures and listed
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subordinated debt aggregating to an outstanding amount of ` 16,760.07
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millions. Apart from the above, there are no outstanding debenture bonds,
(PDLO manish.mishra@indiainfoline.com
redeemable preference shares or other instruments issued by our Company
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that are outstanding.
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21. Change in Auditors of our Company during the last three years
Our Company has no stated dividend policy. The declaration and payment
There has been no change(s) in the Statutory Auditors of our Company
of dividends on our shares will be recommended by the Board of Directors
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and approved by our shareholders, at their discretion, and will depend
For details please refer to the chapter “Other Regulatory and Statutory
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Disclosures” on pages 329 of the Prospectus.
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The following table details the dividend declared/recommended by our RISK FACTORS
&RPSDQ\RQWKH(TXLW\6KDUHVIRUWKH)LQDQFLDO<HDUVHQGHG0DUFK An investment in NCDs involves a certain degree of risk. You should carefully
consider all the information contained in this Prospectus, including the risks
2009, 2010, 2011 and 2012.
(` in million) and uncertainties described below, before making an investment decision. The
risk factors set forth below do not purport to be complete or comprehensive
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in terms of all the risk factors that may arise in connection with our business
2012 2011
2010 2009
or any decision to purchase, own or dispose of the NCDs. The following risk
Final Dividend Nil
Nil
Nil
Nil Nil
factors are determined on the basis of their materiality. In determining the
Interim
`SHU(TXLW\6KDUHKHOG Nil
`SHU(TXLW\6KDUHKHOGDV Nil Nil
materiality of risk factors, we have considered risks which may not be material
Dividend
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individually but may be material when considered collectively, which may have
amounting to `
to `DORQJZLWK
a qualitative impact though not quantitative, which may not be material at
alongwith ` RQ
` 20,152,164 on account of
present but may have a material impact in the future. Additional risks, which
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to Issue
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INDIA INFOLINE FINANCE LIMITED
39
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
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in this section. This Prospectus also contains forward-looking statements that
involve risks and uncertainties. Our results could differ materially from those
anticipated in these forward-looking statements as a result of certain factors,
including events described below and elsewhere in this Prospectus. Unless
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statements of our Company as of and for the Financial Year ended March
31, 2013, March 31, 2012, March 31, 2011, March 31, 2010 and March 31,
2009 in each case prepared in accordance with Indian GAAP, including the
annexure and notes thereto.
I. Internal Risk Factors
1. We are subject to certain legal proceedings and we cannot assure you
that we will be successful in all of these actions. In the event we are
unsuccessful in litigating any or all of the disputes, our business and
results of operations may be adversely affected.
2. Any increase in the levels of non-performing assets (“NPA”) on our
loan portfolio, for any reason whatsoever, would adversely affect our
business and results of operations
3. We may be impacted by volatility in interest rates which could cause
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4. We are subjected to supervision and regulation by the RBI as a
systemically important NBFC, and changes in RBI’s regulations
governing us could adversely affect our business.
5. Our ability to borrow from various banks may be restricted on account of
guidelines issued by the RBI imposing restrictions on banks in relation
to their exposure to NBFCs.
6. Our ability to lend against the collateral of gold jewellery has been
restricted on account of guidelines issued by RBI, which may have a
negative impact on our business and results of operation.
7. We may not be able to realise the full value of our pledged gold jewellery,
which exposes us to a potential loss.
8. Our business requires substantial capital, and any disruption in funding
sources would have a material adverse effect on our liquidity and
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growth will depend on our ability to compete effectively.
10. We are dependent on IIFL, our holding company, for our clientele,
goodwill that we enjoy in the industry and our brand name and any factor
affecting the business and reputation of IIFL may have a concurrent
adverse effect on our business and results of operations.
11. If we are unable to manage our rapid growth effectively, our business
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12. Our growth will depend on our continued ability to access funds at
competitive rates which are dependent on a number of factors including
our ability to maintain our credit ratings.
13. We face asset-liability mismatches which could affect our liquidity and
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14. We extend margin funding loans, or loans against shares, to our clients,
and any default by a client coupled with a downturn in the stock markets
could result in substantial losses for us.
15. For our Gold Loan and Healthcare Finance business, the value of our
collateral may decrease or we may experience delays in enforcing our
collateral when our customers default on payment obligations which
may result in failure to recover the expected value of the collateral and
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16. Inaccurate appraisal of pledged gold jewellery by our personnel may
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in the event our rights over the properties is not renewed or is revoked
or is renewed on terms less favourable to us, our business activities may
be disrupted.
18. Our subsidiary has been issued notices by the NHB and any adverse
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operations.
40
INDIA INFOLINE FINANCE LIMITED
19. We require several licenses and approvals for our business and in the
event we are unable to procure or renew them in time or at all, our
business may be adversely affected
20. All of the gold loans we offer are due within one year of disbursement,
and a failure to disburse new loans may result in a reduction of our
loan portfolio and a corresponding decrease in our interest income.
21. We handle cash on a regular basis and are hence exposed to the risk
of fraud and misappropriation of funds.
22. We have entered into assignment agreements to sell certain loans
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and results of operations could be adversely affected due to some of
the restrictions imposed under such agreements or downgrade in the
ratings of our securitized debt or if such assignment of loan is held to
be unenforceable.
23. As part of our business strategy we assign or securitize a substantial
portion of our loan assets to banks and other institutions. Any
deterioration in the performance of any pool of receivables assigned
or securitized to banks and other institutions may adversely impact our
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24. Any decline in our capital adequacy ratio could restrict our future
business growth.
25. Our branches are vulnerable to theft which could adversely affect our
reputation, business and results of operation.
26. We may have to comply with stricter regulations and guidelines issued
by regulatory authorities in India.
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RBI.
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29. We are subject to certain restrictive covenants in our loan documents,
which may restrict our operations and ability to grow and may adversely
affect our business.
30. Our success depends in large part upon our management team and key
personnel and our ability to attract, train and retain such persons. Our
inability to attract and retain talented professionals, or the resignation
or loss of key management personnel, may have an adverse impact on
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31. We may not be able to successfully sustain our growth plans.
32. Our insurance coverage may not adequately protect us against losses.
33. Any change in control of our Promoter or our Company may
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Real Estate sector and any factor affecting this sector could adversely
affect our business.
35. We undertake distribution of certain third party products which could
result in our Company being made party to litigations.
36. Our ability to assess, monitor and manage risks inherent in our business
differs from the standards of some of our counterparts.
37. Our Business is dependent on relationships established through our
branches with our clients; any events that harm these relationships
including closure of branches or the loss of our key branch personnel
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38. Our Company is exposed to many operational risks which could materially
impact our business and results of operations.
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WKHPWRLQÀXHQFHWKHRXWFRPHRIPDWWHUVVXEPLWWHGWRVKDUHKROGHUVIRU
approval, and their interests may differ from those of other holders of
Equity Shares.
40. Our results of operations could be adversely affected by any disputes
with employees.
41. High levels of customer defaults could adversely affect our business,
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our business.
43. We depend on the accuracy and completeness of information about
customers and counterparties which may adversely affect our reputation
and business.
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
44. Inaccurate appraisal of credit may adversely impact our business
45. We have entered into a number of related party transactions and may
continue to enter into related party transactions, which may involve
FRQÀLFWRILQWHUHVW
II. Risks pertaining to this Issue
46. We are required to create a debenture redemption reserve equivalent to
25% of the value of the NCD offered through this Issue and we may
not have access to adequate funds to redeem the full quantum of the
NCDs at the closure of the redemption period
47. Changes in interest rates may affect the price of our NCDs.
48. You may not be able to recover, on a timely basis or at all, the full
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in connection with the NCDs.
49. There is no assurance that the NCDs issued pursuant to this Issue will
be listed on Stock Exchanges in a timely manner, or at all.
50. Any downgrading in credit rating of our NCDs may affect the value of
NCDs and thus our ability to raise further debts.
51. Our Company may raise further borrowings and charge its assets after
receipt of necessary consents from its existing lenders.
52. You may be subject to Indian taxes arising on the sale of the NCDs.
53. There is no active market for the non-convertible debentures on the
WDM segment of the stock exchanges. As a result the liquidity and
market prices of the non-convertible debentures may fail to develop and
may accordingly be adversely affected.
54. Foreign Investors, including NRIs, QFIs and FIIs subscribing to the
NCDs are subject to risks in connection with (i) exchange control
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55. The offering of NCDs to FIIs, QFIs and NRIs is subject to restrictions
imposed by jurisdictions where such investors are resident in and of
laws to which they are otherwise subject to.
III. External Risk Factors
56. Our results of operations have been, and may continue to be, adversely
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conditions.
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in India could cause our business to suffer and adversely affect our
results of operations.
58. Terrorist attacks, civil unrest and other acts of violence or war involving
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and our business
59. Natural calamities could have a negative impact on the Indian economy,
particularly the agriculture sector, and cause our business to suffer
60. Any downgrading of India’s debt rating by an international rating agency
could have a negative impact on our business.
61. Instability of economic policies and the political situation in India could
adversely affect the fortunes of the industry
62. Companies operating in India are subject to a variety of central and
state government taxes and surcharges.
63. Financial instability in other countries could disrupt our business.
IV. PROMINENT NOTES
1. This is a public issue of NCDs by our Company aggregating upto `
5,250million with an option to retain over-subscription upto ` 5,250million
for issuance of additional NCDs, aggregating to a total of 10,500million.
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sections titled “Our Management” and “Capital Structure” beginning on
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3. Our Company has entered into certain related party transactions, within the
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Rules, 2006, as disclosed in the chapter titled “Financial Statements”
beginning on page 102 of the Prospectus.
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to the investors at large and no selective or additional information would
be available for a section of investors in any manner whatsoever.
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contact Registrar to the Issue.
6. In the event of oversubscription to the Issue, allocation of NCDs will be
as per the “Basis of Allotment” set out in the chapter “Issue Procedure”
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7,500,000 Secured Redeemable Non-Convertible Debentures of face value
of ` 1,000 each aggregating to 7,500 million in the year 2011- 2012 is
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1,000 each aggregating to 5,000 million in the year 2012- 2013 is listed
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liabilities not provided for, including the following:
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ii. Any other of ` 245.27 million.
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“Reformatted Unconsolidated Financial Statements´ DQG $QQH[XUH to our “Reformatted Consolidated Financial Statements”.
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that we are involved in, see “Outstanding Litigation” beginning on page
305 of the Prospectus.
For details refer to the chapter “Risk Factors” on page XI of the Prospectus.
V. Material Contracts and Documents
The following Contracts (not being contracts entered into in the ordinary course
of business carried on by our Company or entered into more than two years
before the date of the Prospectus) which are or may be deemed material have
been entered or to be entered into by our Company. These Contracts which are
or may be deemed material shall be attached to the copy of this Prospectus
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also the documents for inspection referred to hereunder, may be inspected at
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Closing Date. For further details refer to page 347 of the Prospectus.
DECLARATIONS
We, the undersigned, hereby certify and declare that all relevant provisions
of the Companies Act, and the guidelines issued by the Government of India
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RI,QGLDHVWDEOLVKHGXQGHU6HFWLRQRIWKH6HFXULWLHVDQG([FKDQJH%RDUGRI
,QGLD$FW DV DSSOLFDEOH LQFOXGLQJ WKH 6HFXULWLHV DQG ([FKDQJH %RDUG
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complied with and no statement made in this Prospectus is contrary to the
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Act, 1992 or rules made there under, regulations or guidelines issued, as the
case may be. We further certify that all the disclosures and statements made
in this Prospectus are true and correct.
)RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUVRI,QGLD,QIROLQH¿QDQFH/LPLWHG
Mr. V K Chopra
Mr. Nirmal Jain
Mr. R. Venkataraman
Mr. Nilesh Vikamsey
Mr. Mahesh Narayan Singh
Mr. Sunil Kaul
Mr. Mukesh Singh
FOR FURTHER DETAILS PLEASE REFER TO THE
PROSPECTUS
INDIA INFOLINE FINANCE LIMITED
41
IN THE NATURE OF FORM 2A - MEMORANDUM CONTAINING SALIENT FEATURES OF THE PROSPECTUS
Application and any further changes to the Applications shall be accepted only between 10.00 a.m. and 5.00 p.m. (Indian Standard Time, “IST”) during the Issue Period as mentioned
above by the Members of the Syndicate, Trading Members and designated branches of SCSBs, except that on the Issue Closing Date when the Applications and any further changes
in details in Applications, if any, shall be accepted only between 10.00 a.m. and 3.00 p.m. (IST) and shall be uploaded until 5.00 p.m. (IST) or such extended time as permitted by
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Due to limitation of time available for uploading the Applications on the Issue Closing Date, the Applicants are advised to submit their Applications one day prior to the Issue
Closing Date and, in any case, no later than 3.00 p.m. (IST) on the Issue Closing Date. All times mentioned in this Prospectus are Indian Standard Time. Applicants are cautioned
that in the event a large number of Applications are received on the Issue Closing Date, as is typically experienced in public offerings, some Applications may not get uploaded
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Such Applications that cannot be uploaded will not be considered for allocation under the Issue. Applications will be accepted only on Business Days, i.e., Monday to Friday
(excluding any public holiday). Neither our Company, nor any Member of the Syndicate, Trading Members or designated branches of SCSBs is liable for any failure in uploading
the Applications due to faults in any software/hardware system or otherwise.
CENTERS FOR AVAILABILITY AND ACCEPTANCE OF APPLICATION FORMS
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