HSBC Securities and Capital Markets (India) Private Limited Registered office at 52/60, Mahatma Gandhi, Road, Fort, Mumbai - 01 …. Petitioner Company Order delivered on : 24/02/2023 Coram Mr. Prabhat Kumar Mr. Kishore Vemulapalli Hon’ble Member (Technical) Hon’ble Member (Judicial)

Appearances (via videoconferencing):

For the Petitioner : Mr. Hemant Sethi, Advocate i/b Hemant Sethi & Co.

ORDER Per: Kishore Vemulapalli, Member (Judicial)

1. This bench is convened by video conference.

2. This Petition has been filed under Section 55(3) of the Companies Act, 2013 by HSBC Securities and Capital Markets (India) Private Limited seeking permission of this Tribunal for issue of 25,00,000 9% Redeemable Preference Shares of Rs. 100 each for a redemption period of 20 years in lieu of old 25,00,000 9%

Redeemable Preference Shares due for redemption on 12 March 2021.

Facts of the case:

3. The Petitioner Company had allotted 9% 25,00,000 Redeemable Preference Shares on 12 March 2001 to HSBC Investment Bank Holdings BV (“HIBV”), due for redemption on or before 12 March 2021 subject to following terms and conditions;

a) 9% Redeemable Preference Shares of Rs. 100 each were issued at pari passu;

b) The said