ASHOK LEYLAND LIMITED

(iv)
(v)
(vi)
The said Scheme of Amalgamation will contribute in fulfilling and furthering the objects of these
companies. It will strengthen, consolidate and stabilize the business of these companies and will facilitate
further expansion and growth of their business.
The Transferee Company will have the benefit of the combined assets, cash flows and man-power of both
the companies. These combined resources will enhance its capability to expand and improve its efficiency
of operations.
The Transferor Company is one of the major suppliers of casting, etc., for the Transferee Company and
with the Amalgamation, benefits of enhanced operational efficiency are expected to enure to both the
Transferor Company and the Transferee Company.
PART I - GENERAL
1. DEFINITIONS
In this Scheme, unless inconsistent with the subject or context, the following shall have the meanings as provided
herein:
1.1. “Act” means the Companies Act, 1956 and/or the Companies Act, 2013 including any statutory
modifications, re-enactments or amendments or rules thereof from time to time; It is being clarified that
as on the date of approval of this Scheme by the Board of Directors of the Transferor Company and the
Transferee Company, Sections 391 and 394 of the Companies Act, 1956 continue to be in force with the
corresponding provisions of the Companies Act, 2013 not having been notified. Accordingly, references in
this Scheme to particular provisions of the Act are references to particular provisions of the Companies Act,
1956. Upon such provisions standing re-enacted by enforcement of provisions of the Companies Act, 2013,
such references shall, unless a different intention appears, be construed as references to the provisions and
rules so re-enacted.
1.2. “Appointed Date” means the date from which this Scheme shall become operative viz., October 1, 2016
and/or such date as the Hon’ble High Court of Judicature at Madras modifies, then the same shall be the
Appointed Date.
1.3. “Board of Directors or “Board” means the Board of Directors of the Transferor Company or the Transferee
Company, as the case may be, and shall include a duly constituted Committee thereof;
1.4. “Court” means the Hon’ble High Court of Judicature at Madras having jurisdiction in relation to the
Transferor Company and the Transferee Company under the Companies Act, 1956 or such other Tribunal
(i.e.,) the National Company Law Tribunal (“NCLT”) and the National Company Law Appellate Tribunal
(“NCLAT”) as constituted and authorised as per the provisions of the Companies Act, 2013 for approving
any scheme of arrangement, compromise or reconstruction of companies under relevant sections of the
Act.
1.5. “Effective Date” means the date or last of the dates on which the certified copy of the order of the Court
sanctioning this Scheme is filed with the Registrar of Companies, Chennai by the Transferor Company and
the Transferee Company.
1.6. “GDRs” means the Global Depositary Receipts issued by the Transferor Company having no voting rights
which are listed on the Luxembourg Stock Exchange in the following manner:
a) Three GDR’s representing one equity share, issued pursuant to the ‘Issue of Foreign Currency
Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993,
during the year 2008 (“GDR issue 1”); and
b) GDR’s representing twelve thousand Equity Shares, issued pursuant to the ‘Issue of Foreign Currency
Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993
during the year 2016 (“GDR issue 2”);
1.7. “Governmental Authority” means any applicable central, state or local government, legislative body,
regulatory or administrative authority, agency or commission or any court, tribunal, board, bureau or
instrumentality thereof or arbitration or arbitral body having jurisdiction;
1.8. “New Equity Shares” means the equity shares issued by the Transferee Company as referred to in Clause
11;
1.9. “Record Date” means the date to be fixed by the Board of Directors of the Transferor Company in
consultation with the Transferee Company for the purpose of determining the names of the equity
23