MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

MAHINDRA & MAHINDRA LIMITED 25 2b. Mahindra Electric Automobile Limited (“MEAL”): Maximum Amount in any Financial Year Higher of (A) and (B) Monetary values p.a. Rs. in crores (A) % of Consolidated Turnover as per the last audited financial statements of the Company for the relevant financial year (B) a) Purchase / Sale of any goods and material including passenger / commercial vehicles, electric vehicles, electric kits, assemblies, components, castings, forgings, sheet metal, engines, engine components, tractors, implements, four-wheelers, spares, accessories and other related components/parts; 1,500 1.5% b) Providing fund based and non-fund based support including equity/ debt/ Inter-corporate deposits (ICD), convertible/ non-convertible instruments/ Guarantee/ security etc., in connection with loans provided and Interest, commission and other related income / expenses; 4,500 4.5% c) Toll Manufacturing services, Product development services, Shared services & other services including sharing or usage of each other’s resources like employees, infrastructure including IT assets, cloud, IOT and digital engineering, digital transformation, analytics, cyber security, Licensing of technology / intellectual property rights, receipt of royalty / brand usage, manpower, management and management support services, owned / third party services and reimbursements; 2,500 2.5% d) Purchase / sale / transfer / exchange / lease of business assets including property, plant and equipment, Intangible assets, transfer of technology to meet the business objectives and requirements; 900 0.9% e) Any transfer of resources, services or obligations to meet its objectives/ requirements. 100 0.1% Note: The value of corporate actions, if any, from MEAL including receipt of dividends, tendering securities as a part of buyback offer, receipt of bonus securities, subscribing to rights issue, etc. by the Company that are uniformly offered/applicable to all shareholders in proportion to their shareholding, would be as approved by the Board of Directors / Shareholders of MEAL. However, the total value of transactions between the Company and MEAL including dividend received will not breach the overall limit for each of the financial years from 2023-24 to 2027-28 which is the higher of the monetary value of Rs. 9,500 crores and an amount which is 9.5% of the annual consolidated turnover as per the last audited financial statements of the Company. 2c. Mahindra Last Mile Mobility Limited (“MLMML”): Maximum Amount in any Financial Year Higher of (A) and (B) Monetary values p.a. Rs. in crores (A) % of Consolidated Turnover as per the last audited financial statements of the Company for the relevant financial year (B) a) Purchase / Sale of any goods and material including passenger / commercial vehicles, electric vehicles, electric kits, Battery pack, Power electronic pack, Drivetrain, assemblies, components, castings, forgings, sheet metal, engines, engine components, tractors, implements, four-wheelers, spares, accessories and other related components/parts; 3,000 3.0% b) Providing fund based and non-fund based support including equity/ debt/ Inter-corporate deposits (ICD), convertible/ non-convertible instruments/ Guarantee/ security etc., in connection with loans provided and Interest, commission and other related income / expenses; 1,000 1.0% c) Purchase/sale of any services including Toll manufacturing services, Product development services, shared services, sharing or usage of each other’s resources like employees, infrastructure including IT assets, cloud, IOT and digital engineering, digital transformation, analytics, cyber security, Licensing of technology / intellectual property rights, receipt of royalty / brand usage, manpower, management and management support services, owned / third party services and other services, and reimbursements; 1,500 1.5% d) Purchase / sale / transfer / exchange / lease of business assets including property, plant and equipment, Intangible assets, transfer of technology to meet the business objectives and requirements; 300 0.3% e) Any transfer of resources, services or obligations to meet its objectives/requirements. 200 0.2% Note: The value of corporate actions, if any, from MLMML including receipt of dividends, tendering securities as a part of buyback offer, receipt of bonus securities, subscribing to rights issue, etc. by the Company that are uniformly offered/applicable to all shareholders in proportion to their shareholding, would be as approved by the Board of Directors / Shareholders of MLMML. However, the total value of transactions between the Company and MLMML including dividend received will not breach the overall limit for each of the financial years from 2023-24 to 2027-28 which is the higher of the monetary value of Rs. 6,000 crores and an amount which is 6% of the annual consolidated turnover as per the last audited financial statements of the Company.