Reliance Capital — noc for change in capital structure and management

Date:10.10.2018
To,
Reliance capital limited,
Ground floor, mittal chambers,
228 nariman point, mumbai-400021

Dear sir,
Sub: intimation regarding the conversion of intron life sciences (Firm) into intron life sciences private limited.
Ref: our loan account no: rlsrhyd[protected] & rlsrhyd[protected]
We are glad to inform you that intron life sciences (Firm) was converted in to intron life sciences private limited in pursuance of part i of chapter xxi of the companies act, 2013 and the certificate of incorporation issued by the central registration centre, ministry of corporate affairs (Mca), government of india on 28.09.2018 in this regard is attached for your information and records.
This is to further inform you that as the firm was converted in to a private limited company under the provisions of the companies act, 2013 as a going concern, all properties, movable and immovable (Including actionable claims), rights, liabilities, debts and assets belonging to and vested in the partnership firm m/s. Intron life sciences, on the date of registration in pursuance of part i of chapter xxi (Companies authorized to register under this act) of the companies act, 2013, shall on such registration pass on to and vest in the company as incorporated under the companies act, 2013 for all estate and interest of the company therein.

Further to this looking at the growth and profitability potential of intron a private equity fund (India life sciences fund - 3, mauritius) has expressed interest to invest in the equity of the company and this investment will add a 3rd significant shareholder i. E the fund to intron life sciences private limited.

We request you to issue no objection certificate or waiver of point (The event of default) for change in the capital structure and management as required under the loan agreements entered with you

Please find the present capital structure

Sreemannarayana murali krishna pasumarthi 4, 000, 000 50%
Arugunta sridhar reddy 4, 000, 000 50%
Total 8, 000, 000 100%

Please find the present and proposed the capital structure

Sreemannarayana murali krishna pasumarthi 4, 000, 000 31.92%
Arugunta sridhar reddy 2, 312, 165 18.45%
Ilsf iii 6, 219, 163 49.63%
Total 12, 531, 328 100.00%

Your earliest issue of this noc will help intron close this pe transaction and put intron on a growth trajectory.

Thanking you in advance.

Yours faithfully
For intron life sciences private limited.

P. S. Murali krishna
Chairman & managing director