Annexure XIV Continued… - Edelweiss

Authority for the Issue
OTHER REGULATORY AND STATUTORY DISCLOSURES
The Board of Directors has, pursuant to a resolution passed at its meeting held on May 26, 2011, authorised the
Fresh Issue subject to the approval of the Shareholders of our Company under Section 81(1A) of the
Companies Act, and such other authorities as may be necessary.
The shareholders of the Company have, pursuant to a resolution dated May 26, 2011 under Section 81(1A) of
the Companies Act, authorised the Fresh Issue and authorized the Board of Directors to take decisions in
relation to the Fresh Issue.
The Board pursuant to its resolution dated May 26, 2011 has approved and authorised this Draft Red Herring
Prospectus.
Pineridge confirms that the sale of 19,275,000 Equity Shares by it as part of the Offer for Sale has been
authorised by a resolution of its board of directors dated May 26, 2011.
The Individual Selling Shareholders have authorised the Offer for Sale pursuant to their letters, each dated
May 26, 2011.
The Company has received in-principle approvals from the BSE and the NSE for listing of the Equity Shares
pursuant to letters dated [●] and [●], respectively.
The Company intends to apply to the RBI to approve the transfer of the Equity Shares by the Selling
Shareholders in the Offer for Sale.
We have also obtained all necessary approvals for this Issue. For further details please refer to the section titled
“Government and Other Approvals” beginning on page 340 of this Draft Red Herring Prospectus.
Approval for Lock-in
The Promoters through their letters dated May 28, 2011 have granted approval for the lock-in of their pre-Issue
shareholding for a period of three years and one year as required under the ICDR Regulations. The Promoters
have, jointly, agreed to lock-in an amount of Equity Shares, representing 20% of the post-Issue Equity Capital
of our Company, for three years and the balance shares for one year or such other time as required under the
ICDR Regulations.
Approval from the RBI
The Company shall apply for the approval of the RBI for compliance with the applicable foreign exchange
control norms for the transfer of Equity Shares in the Issue.
As per the extant policy, Overseas Corporate Bodies are not permitted to participate in the Issue without the
prior approval of the RBI. For further details regarding the requirement for such approval and other ancillary
matters in this regard, see section titled “Regulations and Policies in India” and “Issue Procedure” beginning
on pages 178 and 400, respectively, of this Draft Red Herring Prospectus.
Prohibition by SEBI
Our Company, our Directors, our Subsidiaries, our Promoters, Promoter Group, persons in control of the
Company and Group Companies, the companies with which our Directors, Promoters or persons in control of
the Company were or are associated as directors or promoters or persons in control of that company (other than
as disclosed in this Draft Red Herring Prospectus) and each of the Selling Shareholders confirms that such
Selling Shareholder has not been prohibited from accessing or operating in the capital markets or restrained
from buying, selling or dealing in securities under any order or direction passed by SEBI.
None of the Directors of our Company are associated with the securities market in any manner except as stated
below:
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