Common use of Voting by Shareholders Clause in Contracts

Voting by Shareholders. The Depositary has been advised by the Company that under Indian law as currently in effect, (i) voting of the Company’s Shares is by a show of hands unless a poll is demanded, or the voting is carried out electronically, which electronic voting functionality is required to be made available by the Company for the optional (but not mandatory) use by shareholders in accordance with applicable law, and (ii) certain specific items require approval by way of postal ballot. The Depositary will not join in demanding a poll, whether or not requested to do so by Holders of GDSs. Deposited Securities which have been withdrawn from the GDR facility and timely transferred on the Company’s register of shareholders to a person other than the Depositary may be voted by the registered holder(s) thereof directly, subject, in each case, to the limitations of Indian law and the Articles of Association of the Company. Holders may not receive sufficient advance notice of shareholders’ meetings to enable them to timely withdraw the Deposited Securities and vote at such meetings as a shareholder, and may not be able to re-deposit the withdrawn securities under the terms of this Deposit Agreement.

Voting by Shareholders. The Depositary has been advised by the Company that under Indian law as currently in effect, (i) voting of the Company’s Shares is by a show of hands unless a poll is demanded, or the voting is carried out electronically, which electronic voting functionality is required to be made available by the Company for the optional (but not mandatory) use by shareholders in accordance with applicable law, and (ii) certain specific items require approval by way of postal ballot. The Depositary will not join in demanding a poll, whether or not requested to do so by Holders of GDSs. Deposited Securities which have been withdrawn from the GDR facility and timely transferred on the Company’s register of shareholders to a person other than the Depositary may be voted by the registered holder(s) thereof directly, subject, in each case, to the limitations of Indian law and the Articles of Association of the Company. Holders may not receive sufficient advance notice of shareholders’ meetings to enable them to timely withdraw the Deposited Securities and vote at such meetings as a shareholder, and may not be able to re-deposit the withdrawn securities under the terms of this the Deposit Agreement.