BEFORE THE HON'BLE NATIONAL COMPANY LAW TRIBUNAL BENCH AT HYDERABAD C.A. (CAA)NO.34/230/HDB/2019

BEFORE THE HON’BLE NATIONAL COMPANY LAW TRIBUNAL
                             BENCH AT HYDERABAD
                           C.A. (CAA)NO.34/230/HDB/2019
                IN THE MATTER OF COMPANIES ACT, 2013 (18 of 2013)
       IN THE MATTER OF SECTIONS 230 TO 232 OF THE COMPANIES ACT, 2013
                                      AND
                     ALL OTHER PROVISIONS OF THE SAID ACT
                                      AND
                 IN THE MATTER OF SCHEME OF AMALGAMATION
                                    BETWEEN
                         XYLEM SEEDS PRIVATE LIMITED
                            (TRANSFEROR COMPANY)
                                      AND
                      TIERRA AGROTECH PRIVATE LIMITED
                            (TRANSFEREE COMPANY)
                                      AND
               THEIR RESPECTIVE SHAREHOLDERS AND CREDITORS

“Tierra Agrotech Private Limited”, a Company incorporated under the provisions of the
Companies Act, 1956, bearing CIN: U01119TG2013PTC090004 and having its registered office
situated H. No. 1-62-192, 3rd Floor, Dwaraka Avenue, Kavuri Hills, Madhapur, Hyderabad 500033
Telangana, India, represented by its Director, Mr. Vijay Kumar Deekonda (holding DIN:
06991267) email: vijay@grandeurproducts.in.Ph: 04048506656.
                                                           …Applicant / Transferee Company

     NOTICE OF THE TRIBUNAL CONVENED MEETING OF THE UNSECURED
      CREDITORS OF TIERRA AGROTECH PRIVATE LIMITED / APPLICANT /
TRANSFEREE COMPANY AS PER THE DIRECTIONS OF THE HON’BLE NATIONAL
                             COMPANY LAW TRIBUNAL
To
The Unsecured Creditors of
Tierra Agrotech Private Limited
(“The Company” or “Applicant Company / Transferee Company”)

Notice is hereby given that by an order dated the 06th day of February, 2019, the Hyderabad Bench
of the Hon’ble National Company Law Tribunal, has inter-alia directed that a meeting to be held
of the Unsecured Creditors of Tierra Agrotech Private Limited for the purpose of considering, and
if thought fit, approving with or without modification, the Scheme of Amalgamation between
Xylem Seeds Private Limited (Transferor Company) and Tierra Agrotech Private Limited
(Transferee Company) and their respective Shareholders and Creditors (Scheme), by passing the
following Resolution:

“RESOLVED THAT pursuant to the provisions of Section 230 to 232 and other applicable
provisions, if any, of the Companies Act, 2013, read with the National Company Law Tribunal
Rules, 2016, the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016
including any statutory modifications, amendments, re-enactments thereof for the time being in
force, the applicable provisions of the Memorandum and Articles of Association of the Company




                                                 3
and subject to the requisite approvals, sanctions, consents, observations, no objections,
confirmations, permissions from the Hon’ble National Company Law Tribunal, Bench at
Hyderabad or such other competent authority as may be applicable, and the confirmation,
permission, sanction and approval of the other statutory / regulatory authorities, if any, in this
regard and subject to such other conditions or guidelines, if any, as may be prescribed or stipulated
by any such authorities, from time to time, while granting such approvals, sanctions, consents,
observations, no objections, confirmations, permissions and which may be agreed by the Board of
Directors of the Company, the draft “Scheme of Amalgamation between between Xylem Seeds
Private Limited (Transferor Company) and Tierra Agrotech Private Limited (Transferee Company)
and their respective Shareholders and Creditors” (“Scheme”), providing for amalgamation of the
Transferor Company with the Transferee Company on a going concern basis with effect from
01.04.2017 (First Day of April, Two Thousand and Seventeen) being the appointed date, as placed
before the meeting and initialed by the chairman for the purpose of identification, be and is hereby
approved”.

RESOLVED FURTHER THAT the Board be and is hereby authorized, empowered and directed
to do all such acts, deeds, matters and things, as may be considered requisite, desirable, appropriate
or necessary to give effect to aforesaid resolution and to effectively implement the arrangements
embodied in the Scheme and to accept such modifications, amendments, limitations and/or
conditions, if any, which may be required and/or imposed by the Hon’ble National Company Law
Tribunal, Bench at Hyderabad, while sanctioning the amalgamation embodied in the Scheme or by
any authorities under law, or as may be required for the purpose of resolving any doubts or
difficulties that may arise in giving effect to the Scheme, as may be deemed fit and proper”.

In pursuance of the said order and as directed therein further notice is hereby given that a meeting
of the Unsecured Creditors of Tierra Agrotech Private Limited will be held on Thursday, the 14th
day of March, 2019, at 11:30 A.M. at the Registered office of the Company situated at H. No.
1-62-192, 3rd Floor, Dwaraka Avenue, Kavuri Hills, Madhapur, Hyderabad, Telangana -
500033, India, at which time and place the Unsecured Creditors of the Company are requested to
attend and vote.


Unsecured Creditors entitled to attend and vote at the meeting may vote in person or by proxy,
provided that all proxies in the prescribed form are deposited at the registered office of the
Company not later than 48 hours before the commencement of the meeting.

A copy of the Scheme of Amalgamation, Explanatory Statement under section 102 read with
sections 230 to 232 and other applicable provisions of the Companies Act, 2013 and details &
information as required under Rule 6 of the Companies (Compromises, Arrangements and
Amalgamations) Rules, 2016, Report adopted by the Board of Directors of the Transferee
Company & Transferor Company, explaining the effect of Scheme on key managerial personnel,
promoters and non-promoter Shareholders, Certified copy of the Audited Financial Statements of
both the Transferee Company and the Transferor Company as on 31st March, 2017 and as on 31st
March, 2018, Supplementary Unaudited Accounting Statements of both the Transferee Company
and the Transferor Company for the period ended on 31st December, 2018, Certificate issued by
the Chartered Accountant confirming the Accounting Treatment proposed in the Scheme, a form
of Proxy and attendance slip are forming part of this notice.

Forms of proxy will also be made available at the registered office of the Company.




                                                    4
The Hon’ble National Company Law Tribunal, Bench at Hyderabad has appointed Mr. P. Anil
Mukherji, Advocate, as the Chairman and Mr. N. Munneya, PCS, as the Scrutineer for convening
the said meeting.

The above mentioned Scheme of Amalgamation between Xylem Seeds Private Limited
(Transferor Company) and Tierra Agrotech Private Limited (Transferee Company) and their
respective Shareholders and Creditors, if approved by the meeting, will be subject to the
subsequent approval of the National Company Law Tribunal, Bench at Hyderabad.


                                                                                           Sd/-
                                                                               P. Anil Mukherji
                                                               Chairperson - Tribunal Convened
                                                               Meeting of Unsecured Creditors of
                                                                Tierra Agrotech Private Limited
Dated this the 06th day of February, 2019
Hyderabad

Notes:

1. AN UNSECURED CREDITOR ENTITLED TO ATTEND AND VOTE AT THE
   MEETING IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE
   INSTEAD OF ITSELF AND THE PROXY NEED NOT BE A UNSECURED
   CREDITOR OF THE COMPANY. PROXIES, IN ORDER TO BE EFFECTIVE, MUST
   BE RECEIVED BY THE COMPANY AT ITS REGISTERED OFFICE NOT LESS
   THAN 48 HOURS PRIOR TO THE COMMENCEMENT OF THE MEETING.

2. No person shall be appointed as a proxy who is a minor.

3. Unsecured Creditors, who are all the Unsecured Creditors of the Applicant Company as on 5th
   day of December, 2018, may attend and vote at the meeting. The Authorised Representative of
   a body corporate which is an Unsecured Creditor of the Applicant Company may attend and
   vote at the meeting provided a certified true copy of the resolution of the Board of Directors
   under Section 113 of the Companies Act, 2013 or other governing body of such body
   corporate authorizing such representative to attend and vote at the meeting is deposited at the
   Registered Office of the Applicant Company not later than 48 hours before the meeting.

4. The proxy of an Unsecured Creditor blind or incapable of writing may be accepted if such
   Unsecured Creditor has attached his signature or mark thereto in the presence of a witness who
   shall add to his signature his description and address. Provided that all insertions in the proxy
   are in the hand writing of the witness and such witness shall have certified at the foot of the
   proxy that all such insertions have been made by him at the request and in the presence of the
   Unsecured Creditor before he attached his signature or mark.

5. The proxy of an Unsecured Creditor who does not know English may be accepted if it is
   executed in the manner prescribed at point no. 4 above and the witness certifies that it was
   explained to the Unsecured Creditor in the language known to him, and gives the Unsecured
   Creditor’s name in English below the signature.




                                                   5
6. An Unsecured Creditor or his/her/its Proxy is requested to bring the copy of the notice to the
   meeting and produce the attendance slip, duly completed and signed, at the entrance of the
   meeting venue.

7. The notice is being sent to all the Unsecured Creditors, whose names appeared in the book of
   account of the Applicant Company as on 5th day of December, 2018. This notice of the
   Tribunal Convened Meeting of Unsecured Creditors of the Applicant Company is also
   displayed / posted on the website of the Company i.e. at https://tierraagrotech.com.

8. The Unsecured Creditors desirous of obtaining any information concerning the accounts and
   operations of the Company are requested to send their queries to the Company at least seven
   days before the date of the meeting, so that the information required by them may be made
   available at the meeting.

9. All relevant documents referred to in the accompanying Explanatory Statement are open for
   inspection at the registered office of the Company on all working days (except on Saturdays,
   Sundays and Public holidays) between 2:00 P.M. to 5.00 P.M. up to 11th day of March, 2019.

10. The results of the voting at the meeting will be declared within 48 hours of conclusion of the
    meeting and the results along with the Scrutinizer’s report shall be placed on the website of the
    Company i.e. at https://tierraagrotech.com.

11. All the Unsecured Creditors, whose name appeared in the book of account of the Applicant
    Company as on 5th day of December, 2018, may cast their vote (for or against) through Poll at
    the Tribunal Convened Meeting on 14th day of March, 2019, at 11:30 A.M.

12. The voting rights of the Unsecured Creditors shall be in proportion to the outstanding amount
    due by the Company as on 5th day of December, 2018.

13. The Resolution provided in this notice seeks your approval to the said Scheme.




                                                                                              Sd/-
                                                                                   P. Anil Mukherji
                                                                Chairperson - Tribunal Convened
                                                               Meeting of Unsecured Creditors of
                                                                  Tierra Agrotech Private Limited
                  th
Dated this the 06 day of February, 2019
Hyderabad




                                                    6
BEFORE THE HON’BLE NATIONAL COMPANY LAW TRIBUNAL
                             BENCH AT HYDERABAD
                           C.A.(CAA)NO.34/230/HDB/2018
                IN THE MATTER OF COMPANIES ACT, 2013 (18 of 2013)
       IN THE MATTER OF SECTIONS 230 TO 232 OF THE COMPANIES ACT, 2013
                                      AND
                     ALL OTHER PROVISIONS OF THE SAID ACT
                                      AND
                 IN THE MATTER OF SCHEME OF AMALGAMATION
                                   BETWEEN
                         XYLEM SEEDS PRIVATE LIMITED
                            (TRANSFEROR COMPANY)
                                      AND
                      TIERRA AGROTECH PRIVATE LIMITED
                            (TRANSFEREE COMPANY)
                                      AND
               THEIR RESPECTIVE SHAREHOLDERS AND CREDITORS

    EXPLANATORY STATEMENT UNDER SECTION 102, READ WITH SECTIONS 230
    TO 232 AND OTHER APPLICABLE PROVISIONS OF THE COMPANIES ACT, 2013
       AND DETAILS & INFORMATION AS REQUIRED UNDER RULE 6 OF THE
      COMPANIES (COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS)
                               RULES, 2016

1. A Scheme of Amalgamation between Xylem Seeds Private Limited (Transferor Company) and
   Tierra Agrotech Private Limited (Transferee Company) and their respective Shareholders and
   Creditors (“Scheme”), was proposed by the Board of Directors of the Transferee Company
   and the Board of Directors of the Transferor Company for the purpose of Amalgamation of
   M/s. Xylem Seeds Private Limited with M/s. Tierra Agrotech Private Limited on a going
   concern basis with effect from 01.04.2017 (First Day of April, Two Thousand and Seventeen)
   being the appointed date.

2. The said Scheme of Amalgamation was approved by the Board of Directors of the Company
   and the Board of Directors of the Transferor Company at their respective meetings held on 26th
   Day of November, 2018 (Twenty Sixth day of November Two Thousand and Eighteen) under
   the provisions of Sections 230 to 232 and all other applicable provisions of Companies Act,
   2013, by passing respective Board Resolutions. The Board of Directors of the Companies have
   approved the Scheme after taking into consideration the rationale of the Scheme and the
   certificate issued by the statutory auditor of the Company to the effect that the accounting
   treatment proposed in the Scheme is in conformity with the Accounting Standards prescribed
   under Section 133 of the Companies Act, 2013.

3. The Board of Directors of the Company at its meeting held on 26th Day of November, 2018,
   authorized, empowered and directed Mr. Vijay Kumar Deekonda and Mrs. Sridevi Dasari
   Directors of the Company severally to file the Scheme along with necessary documents by
   making application, petition etc., with the Hon’ble NCLT and with such other authorities as
   may be required for taking their approval to the Scheme and further authorized, empowered




                                                 7
and directed them to take all such necessary steps and actions to give effect to the provisions
      of the Scheme.

 4. Accordingly, a Joint Application vide C.A.(CAA) NO.34/230/HDB/2019, was made to the
    Hon’ble National Company Law Tribunal, Bench at Hyderabad, by the Transferee Company
    and the Transferor Company for obtaining the sanction of the Tribunal to the Scheme of
    Amalgamation under sections of section 230 to 232, read with the other applicable provisions
    of Companies Act, 2013, on 13th December, 2018.

 5. The C.A.(CAA) NO.34/230/HDB/2019, was allowed by the Hon’ble National Company Law
    Tribunal, Bench at Hyderabad on the 22nd Day of January, 2019 and pursuant to the Order
    dated 06th day of February, 2019, passed by the Hon’ble Tribunal, in the C.A.(CAA)
    NO.34/230/HDB/2019, the meetings of the Equity Shareholders and the Preference
    shareholders of the Transferor and Transferee Company were dispensed with.

 6. Further the Hon’ble National Company Law Tribunal, Bench at Hyderabad, pursuant to the
    Order dated 06th day of February, 2019, in C.A.(CAA) NO.34/230/HDB/2019, was pleased
    to direct that a meeting of the Secured Creditors & Unsecured Creditors of Tierra Agrotech
    Private Limited be held for the purpose of considering, and, if thought fit, approving with or
    without modification(s), the Scheme of Amalgamation between Xylem Seeds Private Limited
    (Transferor Company) and Tierra Agrotech Private Limited (Transferee Company) and their
    respective Shareholders and Creditors, on Thursday, the 14th day of March, 2019, at the
    registered office of the Company situated at H. No. 1-62-192, 3rd Floor, Dwaraka Avenue,
    Kavuri Hills, Madhapur, Hyderabad, Telangana - 500033, India, at 11:00 AM and at 11:30
    AM respectively.

 7. DESCRIPTION, INFORMATION AND OTHER DETAILS PERTAINING TO THE
    COMPANIES

7.1     Xylem Seeds Private Limited (Transferor Company) was originally incorporated as Private
        Limited Company under the name and style “Nandi Seeds Private Limited” on 30.05.1996 in
        the erstwhile State of Andhra Pradesh (now the State of Telangana), vide Certificate of
        Incorporation Number 01-24214 of 1996-97, issued by the Registrar of Companies, Andhra
        Pradesh. Subsequently, the name of the Company was changed from “Nandi Seeds Private
        Limited” to “Xylem Seeds Private Limited” and consequent upon change of name, the
        Company obtained a Fresh Certificate of Incorporation from the Registrar of Companies, on
        12.03.2010, after complying with the relevant provisions under the Companies Act, 1956.
        The present Corporate Identification Number (CIN) of the Company is
        U51101TG1996PTC024214. The PAN of the Company is AAACN9977C. (Hereinafter
        referred to as the “Transferor Company”). Later, in the month of March, 2018, it became a
        deemed Public Company by virtue of becoming the Wholly Owned Subsidiary of the
        Transferee Company which is already a deemed Public Company by virtue of it being a
        Wholly Owned Subsidiary of a Publically Listed Company, M/s. Grandeur Products
        Limited.

7.2     The registered office of the Transferor Company is situated at 6-3-347-22/2, Flat No.9, 4th
        Floor, Iswarya Nilayam, Dwarakapuri Colony, Punjagutta, Hyderabad, Telangana- 500082.




                                                     8
7.3    The present main objects of the Transferor Company is to develop, grow, raise, process,
       manufacture, prepare, reline, extract, manipulate hydrolyze, deodorise, grind, bleach,
       hydrogenate, import, export or otherwise deal in all kinds of seeds and other produce or
       products or agriculture horticulture and forestry and to purchase, buy or otherwise acquire,
       develop establish, maintain improve, sell or otherwise deal in farms, green houses, seed
       testing laboratories, research farms, seed testing stations.

7.4    The authorized, issued, subscribed and paid-up share capital of Transferor Company as on
       31.03.2018:

      Particulars                                                    Amount (in Rs.)
      Authorized Share Capital
      7,50,000 Equity Shares of Rs.10/- (Rupees Ten only) each               75,00,000
      42,00,000 Preference Shares of Rs.10/- (Rupees Ten only) each       4,20,00,000
                                                               Total      4,95,00,000
      Issued, Subscribed and Paid up Capital
      6,50,000 Equity Shares of Rs.10/- (Rupees Ten only) each               65,00,000
      25,00,000 Preference Shares of Rs.10/- (Rupees Ten only) each       2,50,00,000
                                                               Total      3,15,00,000

7.5    The Transferor Company is the wholly owned subsidiary of the Transferee Company which
       holds 100% of the Paid up capital of the Transferor Company.

7.6    The Register of members of the Transferor Company showing the latest list of the equity
       shareholders of the Transferor Company:

      Sl.  Name of the equity shareholder         No.    of Face Total       %
      No.                                         Shares    Value Capital
       1. Tierra Agrotech Private Limited          6,49,999    10 64,99,990    99.99%
          Vijay Kumar Deekonda, Nominee of
       2.                                                 1    10         10    0.01%
          (Tierra Agrotech Private Limited)
                                            Total  6,50,000    10 65,00,000   100.00%

      The following is the extract of the Register of Members of the Transferor Company showing
      the latest list of the preference shareholders of the Transferor Company:

      Sl.      Name of the Preference No.                 of Face       Total       %
      No.      shareholder                      Shares       Value      Capital
            1. Tierra Agrotech Private Limited     25,00,000    10      2,50,00,000 100.00%
                                          Total    25,00,000    10      2,50,00,000 100.00%

7.7    The Transferee Company is Promoter of the Transferor Company as it holds 100% of the
       fully paid up equity and preference capital of the Transferor Company.

7.8    Details of directors of the Transferor Company:




                                                   9
Date of
          Full Name           DIN                    Present Address
                                                                                      Appointment
       Mr. Vijay Kumar                  D.No.1-2-361/47/1, Domalguda By Lane,         23/03/2018
                            06991267
       Deekonda                         Domalguda Hyderabad 500029 TG IN
                                        Flat no. 701, block- B, Fortune Towers
       Mr. Mukesh
                            07769653    Madhapur, Serilingampally, Ranga Reddy        23/03/2018
       Kumar Mittal
                                        Hyderabad 500081 TG IN

7.9       Both the Directors of the Transferor Company have voted in favor of the Resolution
          approving the Scheme of Amalgamation between Xylem Seeds Private Limited (Transferor
          Company) and Tierra Agrotech Private Limited (Transferee Company) and their respective
          Shareholders and Creditors at the meeting of Board of Directors the Company held on 26th
          November, 2018.

7.10      The Transferor Company does not have any Secured and Unsecured Creditors as on
          05.12.2018.

7.11      Tierra Agrotech Private Limited (Transferee Company) is private limited company
          incorporated under the provisions of the Companies Act, 1956, on 13.09.2013, in the
          erstwhile State of Andhra Pradesh (now the state of Telangana). The present Corporate
          Identification Number (CIN) of the Company is U01119TG2013PTC090004 (hereinafter
          referred to as the “Transferee Company”). Later in the month of August, 2017, it became a
          deemed Public Company after becoming the Wholly Owned Subsidiary of a Publically
          Listed Company, M/s. Grandeur Products Limited. The PAN of the Company is
          AAECT7829B.

7.12      The registered office of the Transferee Company is situated at H. No. 1-62-192, 3rd Floor,
          Dwaraka Avenue, Kavuri Hills, Madhapur, Hyderabad, Telangana-500033.

7.13      The present main objects of the Transferee Company are as follows:

          a) To develop, identify, validate, produce, process, license and in and outsource various
             agricultural, bio-technology and nano-technology related technologies within or outside
             India.

          b) To develop, grow, raise, produce, process, manufacture, prepare, refine, extract,
             hydrolyze, deodorise, grind, bleach, hydrogenate, import, export or otherwise deal in all
             kinds of Seeds, Hybrid Seeds and fertilizers, herbicides, pesticides, insecticides,
             fungicides, rodenticides, weedicides, Bio Fertilizers, Bio-pesticides, Bio spares and all
             necessary farm equipments.

          c) To develop, establish maintain and aid in the development, establishment and
             maintenance of Seed farms, research laboratories, research farms, seed testing
             laboratories, technology centres, Cold chains consisting cold storage, storage chambers,
             ice plants, godowns, warehouses, refrigerators, freezing houses, room coolers,
             refrigerated containers, processing centres, transporting, marketing centres, green
             houses, processing and distribution centres, and stores of all kinds of seeds produce or
             products, and to purchase, buy or otherwise acquire, develop establish, maintain




                                                     10
improve, sell or otherwise deal in farms, agricultural lands, urban or rural agricultural
            property.

       d)    To provide and arrange for technical consultancy, training, education, to conduct
            programmes, aid and advice to any person in respect of any matters connected with Seed
            and other Agricultural Businesses.

       e) To aid, assist, promote, establish, improve, develop, administer, undertake, run, own and
          or produce the pilot scale and commercial scale projects/products, using bio-technology,
          to offer technical know-how, imparting training on related items of Bio-technology, to
          undertake all direct and indirect related activities connected with the field of
          Biotechnology.

7.14   The authorized, issued, subscribed and paid-up share capital of the Transferee Company as
       on 31.03.2018, is as follows:

        Particulars                                                            Amount (in Rs.)
        Authorized Share Capital
        30,00,000 Equity Shares of Rs.10/- (Rupees Ten only) each                      3,00,00,000
                                                                      Total            3,00,00,000
        Issued, Subscribed and Paid up Capital
        25,10,000 Equity Shares of Rs.10/- (Rupees Ten only) each                      2,51,00,000
                                                                      Total            2,51,00,000

7.15   The Transferee Company is the wholly owned subsidiary of the M/s. Grandeur Products
       Limited, a BSE Listed Company, which holds 100% of the Paid up capital of the Transferee
       Company.

7.16   The following is the extract of the Register of Members of the Transferee Company showing
       the latest list of the equity shareholders of the Transferee Company:

        Sl.                                            No. of     Face
                 Name of the equity shareholder                         Total Capital            %
        No.                                            shares     value
            1.   Grandeur Products Limited            25,09,999      10 2,50,99,990           99.99
                 Vijay     Kumar       Deekonda
            2.   (Nominee of Grandeur Products                1       10             10        0.01
                 Limited)
                                            Total     25,10,000       10      2,51,00,000 100.00%

7.17   M/s. Grandeur Products Limited, a BSE Listed Company, bearing CIN:
       L15500TG1983PLC110115 and having its registered office situated at H. No. 1-62-192, 3rd
       Floor, Dwaraka Avenue, Kavuri Hills, Madhapur Hyderabad TG 500033 IN, is the Promoter
       of the Transferee Company as it holds 100% of the fully paid up equity share capital of the
       Transferee Company.

7.18   Details of directors of Transferee Company:




                                                     11
Date      of
   Full Name          DIN          Present Address
                                                                                    Appointment
   Mr. Vijay Kumar                 D.No.1-2-361/47/1, Domalguda By Lane,
                      06991267                                                       03/09/2017
   Deekonda                        Domalguda Hyderabad 500029 TG IN
                               H.No. 7-1-78, FTB-3 Balaji Bhagyanagar
   Ms. Sridevi
                      07512095 Apts Chowdary Street Dk Road, Ameerpet,               03/09/2017
   Dasari
                               Hyderabad 500016 TG IN

7.19   All the above mentioned Directors of the Transferee Company have voted in favor of the
       Resolution approving the Scheme of Amalgamation between Xylem Seeds Private Limited
       (Transferor Company) and Tierra Agrotech Private Limited (Transferee Company) and their
       respective Shareholders and Creditors at the meeting of Board of Directors the Company
       held on 26th November, 2018.

7.20   The Transferee Company owes an amount of Rs.35,00,00,000/- (Rupees Thirty Five Crores
       only) to 2 (two) Secured Creditors i.e. HDFC Bank Limited and Yes Bank as on 5th day of
       December, 2018. The Transferee Company also owes an amount of Rs.4,16,40,406/-
       (Rupees Four Crore Sixteen Lakh Forty Thousand Four Hundred and Six only) to 10 (Ten)
       Unsecured Creditor as on 5th day of December, 2018.

7.21   The Transferee Company is a 100% Holding Company of the Transferor Company. The
       Transferee Company is a wholly owned subsidiary of M/s. Grandeur Products Limited and
       hence the Transferor Company is a 100% step down subsidiary of M/s. Grandeur Products
       Limited.

 8. RATIONALE, OBJECTIVE & PURPOSE OF THE SCHEME

 8.1   The Transferor Company is a wholly owned subsidiary company of the Transferee
       Company. The Transferee Company is engaged in the business of seed research and
       development including disruptive technologies and products that may provide significant
       yield and cost advantages to farmers.

 8.2   The Transferor Company is engaged in the business of contract production, development,
       conventional breeding, marketing, sale and distribution of various types of seeds in the
       territory of India.

 8.3   The businesses being carried on by the Transferee Company and the Transferor Company
       are akin to each other and complimentary in nature as the Transferee Company is primarily
       engaged in agri-seed research & development and the Transferor Company is primarily
       engaged in development, sale and marketing of agri-seeds.

 8.4   Therefore, the proposed Amalgamation is expected to:

        a)   Lead to the benefits of synergetic advantages particularly in view of the fact that the
             companies involved in the amalgamation are engaged in the businesses, which are
             akin and can be conveniently merged for mutual benefit further leading to improved
             organizational capability and leadership, arising from the pooling of resources and




                                                   12
expertise that has the diverse skills talent and vast experience to compete successfully
            in an increasingly competitive industry.

      b)    Lead to a more efficient utilization of capital, talent pooling and will result in creation
            of a single larger unified entity, thus resulting in efficient synergies of operations and
            streamlined business transactions.

       c)   Result in cost savings from utilizing the combined facilities of both the entities with
            more focus on operational efforts, rationalization, standardization and simplification of
            business processes, productivity improvements, usage of common resource pool like
            human resource, administration, accounts, legal, technology and other related
            functions leading to elimination of duplication and rationalization of administrative
            expenses and reduction of compliance costs.

      d)    The combined entity (i.e. the Transferee Company), with its strong financials, will
            have greater access to sources of funds, improved cash flows, increased net worth,
            thereby expected to strengthen the value of all the stakeholders of the companies
            involved.

       e)   Result in operational convenience in terms of execution of contracts and provision of
            related services.

       f)   The objective of the Scheme is to consolidate the Transferor Company with the
            Transferee Company which would help to minimize the costs of operation and would
            also help to streamline its operations.

8.5   In order to achieve the objectives as mentioned in the abovementioned clauses, the Board of
      Directors of both the companies have proposed to consolidate the Transferor Company and
      the Transferee Company as a single company by amalgamating the Transferor Company into
      the Transferee Company.

8.6   The amalgamation will build a stronger and sustainable business and enhance the potential
      for future growth and the Scheme of Amalgamation would be beneficial and in the best
      interests of the shareholders, creditors, customers, suppliers, employees and other
      stakeholders of both the Companies.

9. SCOPE OF THE SCHEME

9.1   This Scheme is presented under Sections 230 to 232 and all other applicable provisions of
      the Companies Act, 2013, and provides for the amalgamation of Transferor Company into
      Transferee Company. The Scheme also provides for various other matters consequential to,
      or otherwise integrally connected with the above. The sequence of events contemplated
      under the scheme is as under:

        1. Amalgamation of the Transferor Company into the Transferee Company.
        2. Reclassification of authorised share capital of the Transferor Company and clubbing
            of authorised share capital of Transferor Company with the authorised share capital of
            Transferee Company.




                                                    13
3. Dissolution of the Transferor Company without going through the route of Winding
              up.

9.2   This Scheme of Amalgamation has been drawn up to comply with the conditions as
      specified under section 2(1B) of Income Tax Act, 1961, such that:

      i)      All the properties of Transferor Company, immediately before the amalgamation,
              become the properties of Transferee Company by virtue of amalgamation.

      ii)     All the liabilities of Transferor Company, immediately before the amalgamation,
              become the liabilities of Transferee Company by virtue of amalgamation.

10. SALIENT FEATURES OF THE SCHEME

10.1 The Scheme of Amalgamation is presented under Sections 230 to 232 and all other
     applicable provisions of the Companies Act, 2013, and provides for the amalgamation of
     Xylem Seeds Private Limited (hereinafter referred to as "Transferor Company") into Tierra
     Agrotech Private Limited (hereinafter referred to as ''Transferee Company"). The Scheme
     also provides for various other matters consequential to, or otherwise integrally connected
     with the above, as more specifically stated hereinafter.

10.2 “Appointed date” means 01.04.2017 (First day of April, Two Thousand and Seventeen) or
     such other date as may be approved by the Hon'ble National Company Law Tribunal, Bench
     at Hyderabad. The Appointed Date shall be the effective date and the Scheme shall be
     deemed to be effective from the Appointed Date.

10.3 Transfer of assets, properties, estates, claims, debts, duties, liabilities, obligations etc.,

      1. Subject to the provisions of this Scheme and upon the sanction of the Scheme by the
         Tribunal and with effect from the Appointed Date, the entire Amalgamating
         Undertaking of the Transferor Company shall, under the provisions of Sections 230 to
         232 of the Act and all other applicable provisions, if any, of the Act, without any further
         act or deed (save as provided in sub clauses (b) and (d) below) be transferred to and
         vested in or be deemed to be transferred to and vested in the Transferee Company on a
         going concern basis so as to become the undertaking of the Transferee Company and to
         vest in the Transferee Company all the rights, title, interest or obligations of the
         Transferor Company therein, in the following manner:

            a. The immovable properties, if any, of the Transferor Company, shall under the
               provisions of Sections 230 to 232 of the Act and all other applicable provisions, if
               any, of the Act, without any further act or deed, be transferred to or be deemed to be
               transferred to the Transferee Company so as to become as from the Appointed Date
               the properties of the Transferee Company.

            b. All the movable assets including but not limited to computers and equipment, office
               equipment, machineries, telephones, telexes, facsimile connections and installations
               and utilities, softwares, trademarks, track record, good-will, products, websites,
               portals, inventories, insurance policies, cash in hand, advances, loans and advances,




                                                   14
loan portfolios, inventories, receivables, all deposits, bank balances, accounts and all
        other rights, of the Transferor Company capable of passing by manual delivery or by
        endorsement and delivery, shall be so delivered or endorsed and delivered, as the
        case may be, to the Transferee Company.

    c. In respect of movables other than those specified in sub clause (b) above, including,
       outstanding loans and advances, Investments (whether current or non – current),
       trade receivables, recoverable in cash or in kind or for value to be received, bank
       balances and deposits, if any, with government, semi-government, local and other
       authorities and bodies, customers and other persons, the same shall, without any
       further act, instrument or deed, be transferred to and stand vested in and /or be
       deemed to be transferred to and stand vested in the Transferee Company under the
       provisions of Sections 230 to 232 of the Act and all other applicable provisions, if
       any, of the Act.

   d. All secured and/or unsecured debts, if any, all liabilities, duties and obligations of
      every kind, nature, description, whether or not provided for in the books of account
      and whether disclosed or undisclosed in the balance sheets of the Transferor
      Company shall also, under the provisions of Sections 230 to 232 of the Act and all
      other applicable provisions, if any, of the Act, without any further act or deed, be
      transferred to or be deemed to be transferred to the Transferee Company so as to
      become as from the Appointed Date the debts, liabilities, duties and obligations of
      the Transferee Company and it shall not be necessary to obtain the consent of any
      third party or other person who is a party to any contract or restructuring by virtue of
      which such secured and/or unsecured debts, liabilities, duties and obligations have
      arisen, in order to give effect to the provisions of this sub clause.

   e. In so far as the various incentives, subsidies, special status and other benefits or
      privileges enjoyed (including credit on account of tax on book profits, sales tax,
      excise duty, custom duty, service tax, Income Tax, GST, value added tax and other
      incentives), granted by any government body, local authority or by any other person
      and availed by the Transferor Company, the same shall vest with and be available to
      the Transferee Company on the same terms and conditions.

   f.   The Transferee Company shall be entitled to the benefit of all insurance policies
        which have been issued in respect of the Transferor Company, and the name of the
        Transferee Company shall be substituted in all such policies.

2. The Transferee Company shall under the provisions of the Scheme be deemed to be
   authorized to execute any such writings on behalf of the Transferor Company, to
   implement and carry out all formalities and compliances, if required, referred to above.


3. All the properties or assets of the Transferor Company whether movable or immovable,
   being transferred pursuant to this Scheme, which are registered and standing in the name
   of Transferor Company shall, upon the scheme being sanctioned by the Tribunal, be
   registered in the name of the Transferee Company and the name of the Transferor
   Company shall be substituted with the name of the Transferee Company in all such




                                             15
certificates of registration, endorsements, records and in revenue/mutation records in
    case of immovable properties by such appropriate authorities.

4. Any tax liabilities under the Income-tax Act, 1961, service tax laws, GST, customs law
   or other applicable laws/ regulations dealing with taxes/ duties / levies of the Transferor
   Company to the extent not provided for or covered by tax provision in the accounts
   made as on the date immediately preceding the Appointed Date, if any, shall be
   transferred to Transferee Company.

5. Any refund under the Income-tax Act, 1961, Wealth-tax Act, 1957, service tax laws
   GST, or other applicable laws / regulations dealing with taxes/ duties / levies tax due to
   Transferor Company consequent to the assessment made on Transferor Company and
   for which no credit is taken in the accounts as on the date immediately preceding the
   Appointed Date shall also belong to and be received by the Transferee Company.

6. Upon the sanction of the Scheme by the Tribunal, all rights, entitlements and powers to
   revise returns and filings of the Transferor Company under the Income-tax Act, 1961,
   service tax laws and other laws, and to claim refunds and / or credits for taxes paid, etc.
   and for matters incidental thereto, shall be available to, and vest with the Transferee
   Company, including for the period prior to the Appointed Date.

7. All tax assessment proceedings / appeals of whatsoever nature by or against the
   Transferor Company pending and/or arising at the Appointed Date and relating to the
   Transferor Company shall be continued and / or enforced until the date of sanction of
   this Scheme by the Tribunal against the Transferor Company and from the date of
   sanction of this Scheme by the Tribunal, the same shall be continued and enforced by or
   against the Transferee Company in the same manner and to the same extent as would or
   might have been continued and enforced by or against the Transferor Company.

    Further, the aforementioned proceedings shall not abate or be discontinued nor be in any
    way prejudicially affected by reason of the amalgamation of the Transferor Company
    into the Transferee Company or anything contained in the Scheme.

8. All the tax payments (including, without limitation payments under the Income-Tax Act,
   1961 service tax laws, GST, and other laws) whether by way of tax deduction at source,
   advance tax or otherwise howsoever, by the Transferor Company in respect of the
   profits or activities or operation of the business after the Appointed Date, the same shall
   be deemed to be the corresponding item paid by the Transferee Company and shall, in
   all proceedings, be dealt with accordingly. Further, any tax deducted at source by the
   Transferor Company on transactions with the Transferee Company, if any (from
   Appointed Date till date of sanction of this Scheme by the Tribunal) shall be deemed to
   be advance taxes paid by the Transferee Company and shall, in all proceedings be dealt
   with accordingly.

9. Obligation for deduction of tax at source on any payment made by or to be made by the
   Transferor Company under the Income-tax Act, 1961, service tax laws, GST or other
   applicable laws / regulations dealing with taxes/ duties / levies shall be made or deemed
   to have been made and duly complied with by the Transferee Company.




                                            16
10.4 Staff, workmen and employees

     1. Upon sanction of this Scheme by the Tribunal, all staff, workmen and employees of the
        Transferor Company in service on the date of sanction of this Scheme by the Tribunal
        shall be deemed to have become staff, workmen and employees of the Transferee
        Company with effect from the date of sanction of this Scheme by the Tribunal without
        any break in their service and the terms and conditions of their employment with the
        Transferee Company shall not be less favourable than those applicable to them with
        reference to the Transferor Company on the date of sanction of this Scheme by the
        Tribunal.

     2. It is expressly provided that, in so far as the Gratuity Fund, Provident Fund, Super
        Annuation Fund, if applicable, Employee’s State Insurance Corporation Contribution,
        Labour Welfare Fund or any other Fund created or existing for the benefit of the staff,
        workmen and employees of the Transferor Company, are concerned, upon sanction of
        this Scheme by the Tribunal, the name of the Transferee Company shall stand
        substituted for the Transferor Company for all purposes whatsoever in relation to the
        administration or operation of such Fund or Funds or in relation to the obligation to
        make contributions to the said Fund or Funds in accordance with the provisions thereof
        as per the terms provided in the trust deeds, if any, to the end and intent that all rights,
        duties, powers and obligations of the Transferor Company in relation to such fund or
        funds shall become those of the Transferee Company and all the rights, duties and
        benefits of the employees of the Transferor Company under such Funds and / or Trusts
        shall be protected, subject to the provisions of law for the time being in force. It is
        clarified that the services of the staff, workmen and employees of the Transferor
        Company will be treated as having been continuous for the purpose of the said Fund or
        Funds.

     3. In so far as the Provident Fund, Gratuity Fund, Superannuation Fund, if applicable, or
        other Special Scheme(s) / Fund(s) created or existing for the benefit of the employees of
        the Transferor Company, are concerned, upon the sanction of this Scheme by the
        Tribunal, balances lying in the accounts of the employees of the Transferor Company in
        the said funds as on the date of sanction of this Scheme by the Tribunal shall stand
        transferred from the respective trusts / funds of the Transferor Company to the
        corresponding trusts / funds set up by the Transferee Company.

     4. The officers, employees and staff, other than the employees, who have resigned or
        whose services have been terminated in any way, during the period between the
        Appointed Date and the date of sanction of this Scheme by the Tribunal, shall be entitled
        to receive from the Transferee Company after date of sanction of this Scheme by the
        Tribunal, all the employment benefits, rights or privileges to which he / she was entitled
        to receive from the Transferor Company before the date of sanction of this Scheme by
        the Tribunal, to the extent the same are due and outstanding.

10.5 Reclassification of authorised share capital of the Transferor Company and clubbing of
     authorised share capital of Transferor Company with the authorised share capital of
     Transferee Company.




                                                 17
1. As an integral part of the Scheme, all Preference Shares of the Transferor Company shall
   be converted to equity shares from the date of approval of the Scheme by the Tribunal,
   and following such conversion, the Transferor Company shall cease to have any
   outstanding preference shares and accordingly the authorised share capital of the
   Transferor Company shall be reflected as follows:

    “The authorised share capital of the Company is Rs.4,95,00,000/- (Rupees Four
    Crore and Ninety Five Lakh only) divided into 49,50,000 (Forty Nine Lakh and
    Fifty Thousand) equity shares of Rs.10/- (Rupees Ten only) each”.

2. The members of the Transferor Company, on approval of the Scheme, shall be deemed
   to have given their approval u/s 61 of the Companies Act, 2013 and all other applicable
   provisions of the Act for alteration of the authorised share capital of the Transferor
   Company and no separate resolutions will be required to be passed for alteration of the
   authorised share capital of the Transferor Company under section 61 of the Companies
   Act, 2013 and all other applicable provisions of the Act and no separate notice will be
   required to be given to the Registrar of Companies, for intimation of for alteration of the
   authorised share capital of the Transferor Company under section 64 of the Companies
   Act, 2013 and all other applicable provisions of the Act.

3. The Transferor Company also shall not have any outstanding preference shares from the
   date of approval of the Scheme by the Tribunal.

4. Upon sanction of the Scheme by the Tribunal and upon reclassification of the authorised
   share capital of the Transferor Company, the authorised share capital of the Transferee
   Company shall automatically stand increased without any further act, instrument or deed
   on the part of the Transferee Company including payment of stamp duty and fees
   payable to Registrar of Companies, by the authorized share capital of the Transferor
   Company amounting to Rs.4,95,00,000/- (Rupees Four Crore and Ninety Five Lakhs
   only) divided into 49,50,000 (Forty Nine Lakh and Fifty Thousand only) equity shares
   of Rs.10/- (Rupees Ten only) each and the Memorandum of Association of the
   Transferee Company (relating to the authorized share capital) shall, without any further
   act, instrument or deed, be and stand altered, modified and amended, and the consent of
   the shareholders to the Scheme shall be deemed to be sufficient for the purposes of
   effecting this amendment, and no further resolution(s) under sections 13, 61, 64 of the
   Companies Act, 2013 and other applicable provisions of the Companies Act, 2013, as
   the case may be, would be required to be separately passed, and for this purpose, the
   stamp duty and fees paid on the authorized share capital of the Transferor Company
   shall be utilized and applied to the increased authorized share capital of the Transferee
   Company and there would be no requirement for any further payment of stamp duty
   and/or fee by the Transferee Company for increase in the authorized share capital to that
   extent.

5. It is clarified that the approval of the members of the Transferee Company to the
   Scheme shall be deemed to be their consent / approval also to the Memorandum of
   Association of the Transferee Company as may be required under the Act and Clause V
   of the Memorandum of Association of the Transferee Company shall stand altered as
   stated above.




                                            18
10.6 CONSIDERATION The Provisions of this section shall operate notwithstanding
     anything to the contrary in any other instrument, deed or writing.

    1. In view of the fact that the Transferor Company is wholly owned subsidiary of
       Transferee Company, upon sanction of the Scheme by the Tribunal, no shares will be
       issued / allotted under the Scheme by the Transferee Company to any person.

    2. Further, upon the sanction of the Scheme by the Tribunal, all the equity shares and
       preference shares of the Transferor Company held by Transferee Company, shall stand
       cancelled and the investments of Transferee Company, as appearing on the Asset side of
       the Balance Sheet of Transferee Company, shall stand cancelled to the extent of book
       value of the equity shares and preference shares of the Transferor Company.

    3. On completion of the scheme, all equity shares and preference shares of the Transferor
       Company held by Transferee Company shall stand cancelled and the share certificates
       relating to such equity shares and preference shares held by Transferee Company shall
       be destroyed.

    4. The shareholders (Equity and Preference) of the Transferor Company, i.e. the Transferee
       Company (Tierra Agrotech Private Limited), on approval of the Scheme, shall be
       deemed to have given its approval/consent under section 48 of the Companies Act, 2013,
       for cancellation of its shares (equity and preference) held by it in the share capital of the
       Transferor Company and no separate resolutions will be required to be passed in this
       regard.

10.7 ACCOUNTING TREATMENT: Accounting Treatment in the Books of the Transferee
     Company:

    1. Upon sanction of this Scheme by the Tribunal, the Transferee Company shall account
       for the amalgamation of the Transferor Company pursuant to the Scheme in accordance
       with IND AS 103 prescribed under section 133 of the Act, as notified by the Companies
       (Indian Accounting Standards) Rules, 2015, as amended from time to time. The
       accounting shall be on the basis of ‘Pooling of Interests’ method.

    2. Upon sanction of this Scheme by the Tribunal, the Transferee Company shall, after
       providing for adjustments as per clause 12.3 below, record in its financial statements, the
       assets, liabilities and reserves of the Transferor Company at their respective book values
       as appearing in the financial statements of the Transferor Company at the close of
       business hours of the day immediately preceding the Appointed Date. Similarly, the
       balance of the Profit and Loss Account of Transferor Company shall be aggregated with
       the balance in Profit and Loss Account of the Transferee Company or transferred to the
       general reserve.

    3. Inter-corporate deposits / loans and advances, investments etc., if any, outstanding
       between the Transferee Company and the Transferor Company inter-se shall stand
       cancelled and there shall be no further obligation / outstanding in that behalf.




                                                 19
4. The excess or deficit, if any, remaining after recording the aforesaid entries shall be
         treated in accordance with the Accounting Standards specified under section 133 of the
         Companies Act, 2013.

      5. In case of any differences in accounting policy between the Transferor Company and
         Transferee Company, the accounting policies followed by Transferee Company will
         prevail and the difference till the Appointed Date will be quantified and adjusted against
         Profit and Loss Account, to ensure that the financial statements of Transferee Company
         reflect the financial position on the basis of consistent accounting policy.

10.8 Dissolution of the Transferor Company

      Upon sanction of this Scheme by the Tribunal, the Transferor Company (i.e. Xylem Seeds
      Private Limited) shall, without any further act or deed, stand dissolved without going
      through the process of winding up.

10.9 Scheme Conditional upon:

      1. This Scheme is conditional upon and subject to:

          a) It being agreed to by the respective requisite majorities of each class of members of
             Transferee and Transferor Company as required under the Act and the requisite
             orders of the NCLT being obtained;
          b) It being agreed to by the respective requisite majorities of creditors and the various
             classes of creditors (wherever applicable) of the Transferee and Transferor Company
             as required under the Act and the requisite orders of the NCLT being obtained.
          c) The requisite sanctions and approvals, as may be required by law in respect of this
             Scheme being obtained; and

      2. In the event of this Scheme failing to take effect before 31.03.2020 or such later date as
         may be agreed by the respective Board of Directors of the Transferee and Transferor
         Company, this Scheme shall stand revoked, cancelled and be of no effect and become
         null and void and in that event no rights and liabilities whatsoever shall accrue to or be
         incurred inter-se by the Companies or their shareholders or creditors or employees or
         any other person. In such case, both the Companies shall bear its own costs, charges and
         expenses or shall bear costs, charges and expenses as may be mutually agreed.

10.10 Costs, charges, etc.

    All costs, charges, levies and expenses (including stamp duty) in relation to or in connection
    with or incidental to this Scheme or the implementation thereof shall be borne and paid by the
    Transferee Company.

You are hereby requested to read the entire text of the Scheme to get fully acquainted with
the provisions thereof. The aforesaid are only some of the key provisions of the Scheme.




                                                 20
11. Valuation

    Since the Transferor Company is the wholly owned subsidiary Company of the Transferee
    Company and since there will be no issue of shares by the Transferee Company to any person /
    entity pursuant to the Scheme, the valuation is not carried out.

12. Pre and Post Amalgamation Capital Structure

     a)     The pre amalgamation Capital Structure of the Transferor Company i.e. is given at
            clause 7.4 of this Explanatory Statement.

     b)     The pre and post amalgamation Capital Structure of the Transferee Company is as
            follows:

                                  Pre Amalgamation as on
          Particulars                                                   Post Amalgamation
                                          31.03.2018
Authorised Capital              No. of Shares Amount in Rs.       No. of Shares    Amount in Rs.
Equity Shares of Rs.10/- each       30,00,000      3,00,00,000        79,50,000      7,95,00,000
Issued Capital                  No. of Shares Amount in Rs.       No. of Shares    Amount in Rs.
Equity Shares of Rs.10/- each       25,10,000      2,51,00,000        25,10,000      2,51,00,000
Subscribed Capital              No. of Shares Amount in Rs.       No. of Shares    Amount in Rs.
Equity Shares of Rs.10/- each       25,10,000      2,51,00,000        25,10,000      2,51,00,000
Paid Up Capital                 No. of Shares Amount in Rs.       No. of Shares    Amount in Rs.
Equity Shares of Rs.10/- each       25,10,000      2,51,00,000        25,10,000      2,51,00,000

13. Pre and Post Amalgamation Shareholding Pattern

    a)     The pre amalgamation shareholding pattern of Transferor Company as on March 31,
           2018, is given at clause 7.6 of this Explanatory Statement.

    b)     The pre amalgamation shareholding pattern of Transferee Company is as follows:

                                                      Pre Amalgamation                Post
          Sl.   Name     of     the     equity         as on 31.03.2018           Amalgamation
          No.   shareholder
                                                 No. of shares        % No. of shares         %

           3.   Grandeur Products Limited             25,09,999    99.99     25,09,999      99.99
                Vijay    Kumar      Deekonda
           4.   (Nominee of Grandeur Products                1       0.01            1       0.01
                Limited)
                                         Total        25,10,000 100.00%      25,10,000 100.00%

14. The Scheme of Amalgamation, if approved by the appropriate authorities and the Tribunal,
    shall not have any adverse impact or effect on the Key Managerial Personnel (KMP),
    Directors, Promoters, Non-Promoter Members, Creditors, whether secured or unsecured,
    employees of Transferee Company and / or Transferor Companies. The Companies does not
    have any Depositors or the Debenture Holders.




                                                 21
15. The Directors and KMP of the Transferee Company and the Directors of the Transferor
    Companies have no material interest in the proposed Scheme of Amalgamation and the
    Scheme of Amalgamation shall not have any adverse effect on the Directors and Key
    Managerial Persons of respective Companies.

16. The directors of the Transferor Company does not hold any shares in the Transferee Company
    or in the Transferor Company except as nominee shareholder (wherever applicable).

17. The directors of the Transferee Company does not hold any shares in the Transferee Company
    or in the Transferor Company except as nominee shareholder (wherever applicable).

18. A report adopted by the Board of Directors of the Transferee Company and the Board of
    Directors of the Transferor Company, explaining the effect of Scheme on key managerial
    personnel, promoters and non-promoter shareholders is enclosed to this Notice.

19. Supplementary Unaudited Accounting Statements, of the Transferee Company and the
    Transferor Company for the period ended on 31st December, 2018, are enclosed to this Notice.

20. The rights and interests of Secured Creditors and Unsecured Creditors of the Transferee
    Company or the Transferor Companies will not be prejudicially affected by the Scheme as no
    sacrifice or waiver is, at all called from them nor their rights sought to be modified in any
    manner and post the Scheme, the Transferee Company will be able to meet its liabilities as
    they arise in the ordinary course of business.

21. There are no winding up proceedings pending against the Transferee Company or against the
    Transferor Company as of date.

22. No inquiry or investigation under sections 235 to 251 of the Companies Act, 1956, or under
    Section 210 to 227 of Companies Act, 2013, is pending against Transferee or Transferor
    Companies.

23. The financial position of the Transferee Company will not be adversely affected by the
    Scheme.

24. A copy of the Scheme has been already filed with the Registrar of Companies, Hyderabad, on
    13.12.2018.

25. The Scheme of Amalgamation requires the approval / sanction / no objection from the
    following the regulatory and government authorities:

   a)    Registrar of Companies
   b)    Regional Director
   c)    Official Liquidator
   d)    National Company Law Tribunal

   The Companies are yet to obtain the sanction of Registrar of Companies, Regional Director,
   Official Liquidator and the National Company Law Tribunal, Bench at Hyderabad. The
   approval of the aforesaid authorities will be obtained at appropriate time.

26. Inspection and / or extract by the Secured Creditors of the Company, of the following
    documents is allowed at the Registered Office of the Company on all working days (except on
    Saturdays, Sundays and Public Holidays) upto 11th day of March, 2019, between 2:00 PM to
    05:00 PM.




                                                 22
a) Company Application No. C.A. (CAA) NO.34/230/HDB/2019, filed by the Transferee and
       the Transferor Company before the Hon’ble National Company Law Tribunal, Bench at
       Hyderabad.

    b) Certified copy of the order dated 06th day of February, 2019, passed by the Hon’ble
       National Company Law Tribunal, Bench at Hyderabad, in the C.A.(CAA)
       NO.34/230/HDB/2019.

    c) Resolution passed by the Board of Directors of Tierra Agrotech Private Limited
       (Transferee Company) and Xylem Seeds Private Limited (Transferor Company) approving
       the Scheme of Amalgamation at their respective meetings held on 26.11.2018.

    d) Scheme of Amalgamation between Xylem Seeds Private Limited (Transferor Company)
       and Tierra Agrotech Private Limited (Transferee Company) and their Respective
       Shareholders and Creditors.

    e) A certificate issued by Auditors of the Companies to the effect that the accounting
       treatment proposed in the Scheme is in conformity with the Accounting Standards
       prescribed under Section 133 of the Companies Act, 2013;

    f) Memorandum and Articles of Association of the Transferee and the Transferor Company.

    g) Report adopted by the Board of Directors of the Transferee Company & Transferor
       Company, explaining the effect of Scheme on key managerial personnel, promoters and
       non-promoter Shareholders.

    h) Audited Balance Sheet and Profit and Loss account of the Transferee and the Transferor
       Company for the financial year ended on 31.03.2017 and on 31.03.2018.

    i)   Supplementary Unaudited Accounting Statement of the Transferee Company and of the
         Transferor Company for the period ended on 31st December, 2018.

27. The Scheme of Amalgamation, if approved by the Unsecured Creditors, shall be operative
    from the Appointed Date subject to the approval and directions of the Hon’ble National
    Company Law Tribunal, Bench at Hyderabad.

28. A copy of the Notice, the Explanatory Statement, the Scheme of Amalgamation, details &
    information as required under Rule 6 of the Companies (Compromises, Arrangements and
    Amalgamations) Rules, 2016, Report adopted by the Board of Directors of the Transferee
    Company & Transferor Company, the copy of Audited Financial Statements of the Transferor
    and Transferee Company for the financial year ended on 31.03.2017 and on 31.03.2018,
    Supplementary Unaudited Accounting Statement of the Transferee Company and of the
    Transferor Company for the period ended on 31st December, 2018, Certificate issued by
    Auditors of the Companies certifying the accounting treatment proposed in the Scheme, a form
    of Proxy and attendance slip and other relevant documents are also available on the website of
    the Company i.e. https://tierraagrotech.com.

29. None of the Directors and Key Managerial Personnel of respective Companies and their
    respective relatives is concerned or interested, financially or otherwise in the proposed
    resolution.




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