Airtel Shareholders to Vote July 31 on Scheme of Arrangement

New Delhi: The Domestic Firm Law Tribunal has instructed for a gathering of Bharti Airtel shareholders to discuss & approve the scheme of {arrangement} between Airtel, Bharti Airtel Solutions, Hughes Communications & HCIL Comtel.

The gathering going to be conducted on Jul 31 using video footage conferencing.

In an order dated May 11, 2020, the Principal Bench of the Domestic Firm Law Tribunal in New Delhi(DL) had instructed a gathering to be conducted of the equity shareholders of Bharti Airtel Limited on Fri., Jul 31, 2020 between 10.30 a.m. & 11.30 a.m. (“Gathering”) using video footage conferencing (or) different audio visual means.

The gathering is being named for the purpose of discussing, & in case imagined fit, approving with (or) without modifications, the proposed composite scheme of {arrangement} between Bharti Airtel, Bharti Airtel Solutions Limited, Hughes Communications India(In) Limited (as of now referred to as Hughes Communications India(In) Private Limited) & HCIL Comtel Limited (as of now referred to as HCIL Comtel Private Limited) & their own respective shareholders & creditors under Sections 230 to 232 & different applicable provisions of the Businesses Act, 2013.

According to a firm circular to shareholders, there shall be no gathering requiring physical presence in a common venue in see of the present conditions on account(a/c) of the COVID-19-19 epidemic.

Airtel going to also be providing Postal Ballot & remote e-voting ability prior to the gathering of the equity shareholders involving the people shareholders to cast their own votes for (or) over on the solution set forth within the circular.

Airtel has appointed KFintech to give remote e-voting ability along with to enable the equity shareholders of Airtel to participate & attend within the gathering using VC/ OAVM.

Every equity shareholder (involving people shareholders) could opt for only 1 mode for voting i.e. using postal ballot (or) using e-voting prior to (or) in the gathering (using VC/OAVM). In complaint equity shareholders cast their own vote via both the modes i.e. postal ballot along with e-voting either prior to (or) in the gathering, afterwards voting finished using either of the e-voting mode shall dominate & voting by equity shareholder using different means shall be handled as invalid.