YBL/CS/2022-23/076 | |
September 17, 2022 | |
National Stock Exchange of India Limited | BSE Limited |
Exchange Plaza, | Corporate Relations Department |
Plot no. C/1, G Block, | P.J. Towers, Dalal Street |
Bandra - Kurla Complex | Mumbai - 400 001 |
Bandra (E), Mumbai - 400 051 | Tel.: 2272 8013/15/58/8307 |
NSE Symbol: YESBANK | BSE Scrip Code: 532648 |
Dear Sirs, |
Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations")
The Bank had acquired 12,63,50,146 equity shares constituting 8.74% of the post-issuepaid-up share capital of Jhabua Power Limited pursuant to invocation of pledge, which was informed to the stock exchanges on June 27, 2020.
Under the Corporate Insolvency Resolution Process of Jhabua Power Limited approved by the Hon'ble National Company Law Tribunal, Kolkata, as per the Clause 9.2.2 of the Resolution Plan, the existing equity share capital held by the existing lenders stands extinguished and settled with effect from transfer date without liabilities, claims or obligations whatsoever against the Company (i.e. Jhabua Power Ltd.) or the Resolution Applicant. Further, the Resolution Professional of Jhabua Power Limited has informed that the successful Resolution Applicant have made the payment as per the approved resolution plan on September 05, 2022 (Transfer Date) and accordingly, the old equity has been extinguished.
In view of the above, the Bank's holding of 12,63,50,146 equity shares (constituting 8.74% of the paid-up share capital) of Jhabua Power Limited stands extinguished as on September 05, 2022, which came to the knowledge of Yes Bank on September 16, 2022.
The details of extinguishment/disposal of shares in terms of SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 are given below:
S. No. | Particulars | Details |
1. | the amount and percentage of the | Not Applicable. |
turnover or revenue or income | Jhabua Power Limited is an unlisted entity. | |
and net worth contributed by | ||
such unit or division of the listed | ||
entity during the last financial | ||
year | ||
2. | date on which the agreement for | Not Applicable as the disposal is on account of |
sale has been entered into | Resolution Plan approved by NCLT, Kolkata | |
3. | the expected date of completion | Not Applicable |
of sale/disposal | ||
4. | consideration received from such | Nil |
sale/disposal | ||
Registered & Corporate Office: YES BANK Limited, YES BANK House, Off Western Express Highway, Santacruz (East), Mumbai 400055 Tel: +91 (22) 5091 9800 / +91 (22) 6507 9800, Fax: +91 (22) 2619 2866 Website: www.yesbank.inEmail: shareholders@yesbank.inCIN: L65190MH2003PLC143249
5. | brief details of buyers and | Not Applicable. |
whether any of the buyers belong | ||
to the promoter/ promoter | The shares have been extinguished pursuant to | |
group/group companies. If yes, | Resolution Plan approved by NCLT, Kolkata | |
details thereof | ||
6. | whether the transaction would | No. Jhabua Power Ltd. is not a related party of |
fall within related party | the Bank. | |
transactions? If yes, whether the | ||
same is done at "arms length" | ||
7. | additionally, in case of a slump | Not Applicable |
sale, indicative disclosures | ||
provided for amalgamation/ | ||
merger, shall be disclosed by the | ||
listed entity with respect to such | ||
slump sale | ||
We request you to kindly take the same on record.
Thanking you,
Yours faithfully,
For YES BANK LIMITED
SHIVANAND RAMA SHETTIGAR
Digitally signed by
SHIVANAND RAMA SHETTIGAR Date: 2022.09.17 08:37:21 +05'30'
Shivanand R. Shettigar
Company Secretary
Registered & Corporate Office: YES BANK Limited, YES BANK House, Off Western Express Highway, Santacruz (East), Mumbai 400055 Tel: +91 (22) 5091 9800 / +91 (22) 6507 9800, Fax: +91 (22) 2619 2866 Website: www.yesbank.inEmail: shareholders@yesbank.inCIN: L65190MH2003PLC143249
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Yes Bank Limited published this content on 17 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 September 2022 04:19:05 UTC.