Page 154 - Hitachi IR 2025

BOARD’S REPORT
39. FRACTIONAL SHARES:
Pursuant to the Scheme of Arrangement, entered
into between (i) ABB India Limited (“INABB”/
“Transferor”) and ii) the Company (“Company”/
“Transferee”) and their respective shareholders
and creditors, pursuant to the provisions of
Section 230 to 232 and other applicable provisions
of the Act, the Company has allotted shares of the
Company to the Shareholders of ABB India Limited
in accordance with the share entitlement ratio.
Out of the total shares allotted to the Shareholders
of ABB India Limited, the Company allotted 9,266
Equity shares (pursuant to fractional entitlements
of Members of ABB India Limited as per share
entitlement ratio) to Hitachi Energy India Limited
Fractional Shares Trust 2019 (“Trust”) on
December 24, 2019. Catalyst Trusteeship Limited
(“Catalyst”) is acting as Trustee to the Trust effective
April 30, 2020.
The total amount paid as on March 31, 2025,
stood at `61.17 Lakhs consisting of 19,897
Members eligible for the value of such fractional
shares and the total amount remained unpaid as on
March 31, 2025 stood at `2.10 Lakhs pertaining
to 722 Members eligible for the value of such
fractional shares.
Further, on November 26, 2022, May 30, 2023
and June 28, 2024, reminder letters was sent
through registered post to all unpaid shareholders
wherein the Company has requested the unclaimed
shareholders to claim the unclaimed fractional
share sale proceeds by submitting the Letter-Cum-
Indemnity in the format shared with them.
40. ACKNOWLEDGEMENTS:
The Board of Directors wishes to place on
record their appreciation for all the guidance and
cooperation received from its parent Company and
all its customers, members, suppliers, investors,
vendors, partners, bankers, associates, government
authorities and other stakeholders for their
consistent support to the Company in its operations.
The Board of Directors also record their appreciation
of the dedication of all the employees at all levels
and their commitment to ensuring that the Company
continues to grow.
By order of the Board
For Hitachi Energy India Limited
Achim Michael Braun
Place: Bengaluru Chairman
Date: May 14, 2025 DIN: 08596097
152 Hitachi Energy India Limited