Datamatics Global Services Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Jun 2023

1. The unaudited consolidated financial results and the unaudited standalone financial results of the Company for the quarter ended June 30, 2023 have been reviewed by the Audit Committee of the Board and approved by the Board of Directors at its meeting held on Aug 10, 2023. The statutory auditors have reviewed consolidated and standalone unaudited financial results.

2. The unaudited standalone / consolidated financial results have been prepared in accordance with Indian Accounting Standards (Ind AS), the provisions of the Companies Act, 2013 (the Act), as applicable and guidelines issued by the Securities and Exchange Board of India (SEBI).

3.The Board of Directors had, at their meeting held on March 4, 2022, subject to obtaining the requisite approvals/consents, approved the Scheme of Amalgamation under Section 232 read with Section 230 and other applicable provisions of the Companies Act, 2013 and the rules made thereunder (“Scheme”) between Delta Infosolutions Private Limited and Datamatics Global Services Limited and their respective shareholders.
The Company had received a letter dated August 26, 2022 from BSE and NSE stating that there were no-adverse observations to the Scheme. Thereafter, an application was filed with the National Company Law Tribunal, Mumbai Bench, to, inter alia, seek directions for convening meetings of shareholders of the Company, for convening meeting of secured and unsecured creditors, and for serving notices to regulatory authorities. Subsequent to the same, vide hearing on June 22, 2023, a meeting of shareholders of the Company was convened on August 8, 2023 through video conferencing or other audio-visual means, while the meeting of the creditors has been dispensed with. The Company also served notices to regulatory authorities, as directed by the NCLT, and seek requisite approvals from such regulatory authorities, to the extent required. The shareholders of the Company have approved the Scheme with requisite majorities, and the Company is now in the process of filing a petition with the NCLT to seek sanction to the Scheme of Arrangement.