Updates on Scheme of Amalgamation

• Security Code: 533519
• Company: LTF

With reference to the earlier letter dated August 10, 2016, wherein the Company had informed that the Board of Directors of L&T Finance Limited ("L&T Finance"), L&T FinCorp Limited ("L&T FinCorp") and Family Credit Limited ("Family Credit"), all wholly owned subsidiaries of L&T Finance Holdings Limited ("L&T Finance Holdings"), had approved the Scheme of Amalgamation ("Scheme") of L&T Finance and L&T FinCorp [together referred to as "Transferor Companies"] with Family Credit ["Transferee Company"], on July 19, 2016 and July 21, 2016, subject to sanction of the Hon'ble High Courts and/or such other competent statutory/ regulatory authorities as may be required under applicable law.

The Equity shares of L&T Finance Holdings are listed on National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE"). However, equity shares of L&T Finance, L&T FinCorp and Family Credit are not listed on any stock exchange. It may be noted that debentures of L&T Finance are listed on the NSE and BSE whilst debentures of L&T FinCorp and Family Credit are listed on the NSE.

L&T Finance Holdings Ltd
has now informed BSE that As may be noted, L&T Finance Holdings is neither involved as a transferor company nor as a transferee company in the proposed Scheme of Amalgamation. However, as a good corporate governance practice, the Company is providing the following details:

(a) (i) The Hon'ble High Court of Calcutta at his hearing held on November 28, 2016 and

(ii) the National Company Law Tribunal, Mumbai Bench (“NCLT”) at its hearing held on January 24, 2017, have sanctioned the Scheme of Amalgamation of L&T Finance and L&T FinCorp with Family Credit.

(b) Certified copies of the Orders of Hon'ble High Court of Calcutta and NCL are awaited.

(c) The Scheme shall become effective from the Appointed Date i.e. April 01, 2016, upon filing of the certified copies of the Orders of Hon'ble High Court of Calcutta and NCLT, sanctioning the Scheme, with the respective Registrar of Companies.