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3.10 The above referred meetings were accordingly held after issuing required notices and voting had taken place on the proposed resolution supporting amalgamation. Scrutineers appointed at the meeting had submitted their reports which are as under:

RE: SHAREHOLDERS' MEETING:

(a) Voted in favour of the resolution:

Number of members present (in person or by proxy) and voting Number of votes cast by them % of the total number of members present (in person or by proxy) and voting % of total number of votes cast by them.

20,37,73,286 97.04 99.89

(b) Voted against the resolution:

Number of members present (in person or by proxy) and voting Number of votes cast by them % of the total number of members present (in person or by proxy) and voting % of total number of votes cast by them.

2,28,705 2.95 0.11%

(c) Invalid votes Total number of members whose votes were declared invalid Total number of votes cast by them 11,74,879 RE: SECURED CREDITORS (INCLUDING DEBENTURE HOLDERS) MEETING:

(a) Voted in favour of the resolution:

Number of secured creditors (including debenture holders) present (in person or by proxy) and voting Value of Secured Debt of those present and voting (Rs. in crores) % of the total number of Secured Creditors (including Debenture holders) present (in person or by proxy) and voting.

% of total value of Secured Debt of those present and voting.

355.34 100% 100%

(b) Voted against the resolution Number of secured creditors (including debenture holders) present (in person or by proxy) and voting Value of Secured Debt of those present and voting (Rs. in crores) % of the total number of Secured Creditors (including Debenture holders) present (in person or by proxy) and voting.

(b) Voted against the resolution:

Number of unsecured creditors present (in person or by proxy) and voting Value of Unsecured Debt of those present and voting (Rs. in crores) % of the total number of Unsecured Creditors present (in person or by proxy) and voting.

% of total value of Unsecured Debt of those present and voting.

Nil Nil Nil Nil

(c) Invalid votes:

Total number of unsecured creditors whose votes were declared invalid Total value (Rs. in crore) Nil 3.11 Thus as per the report, the Scheme was approved by an overwhelming majority of secured creditors (including debenture holders), unsecured creditors, equity shareholders and the resolution was passed by members constituting more than a majority in number and representing more than three-fourths in value of the shareholding of the equity shareholders present and voting either in person or by proxy at the meeting.