Outcome of board meeting of Mahindra & Mahindra

Held on 30 May 2016

Mahindra & Mahindra announced that the Board of Directors of the Company at its meeting held on 30 May 2016, inter alia, has:

1. Approved recommendation of a Dividend of Rs. 12.00 (240%) per Ordinary (Equity) Share of the face value of Rs. 5 each.

2. Approved an enabling Resolution, subject to Shareholders' approval at the ensuing Annual General Meeting of the Company, inter alia, to raise funds by way of issuance of debt securities including but not limited to secured/ unsecured redeemable Non-convertible Debentures and/or Commercial Papers under Private Placement basis for an aggregate amount not exceeding Rs. 5,000 crore, and authorised the Loans and Investment Committee of the Company to determine the detailed terms and conditions thereof.

The Shareholders of the Company, at the last Annual General Meeting held on 07 August 2015, had approved issuance of securities including but not limited to secured/unsecured redeemable Non-convertible Debentures and/or Commercial Papers under Private Placement basis for an aggregate amount not exceeding Rs. 5,000 crore. The Company has till date not issued any securities pursuant to this approval. Since the approval of the Shareholders in case of offer or invitation for non-convertible debentures has a validity of one year in terms of Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014, it is proposed to seek fresh approval from Shareholders at the ensuing Annual General Meeting.

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