We are having one issue on shareholding in Thailand. Our present shareholding structure is as attached.
If you notice 6 shares are held by individuals for complying with the requirements of having 7 shareholders since formation of this subsidiary company. Since TechM India is invested 100% of the capital for formation of this subsidiary, because of 6 shares held by individual we are facing problem in India for consolidation of accounts in TechM India and our Auditors raised concern on this holding. Though it is wholly owned subsidiary, to address this issue, can we transfer these individual shares to Tech Mahindra Limited, India Joint with Milind Kulkarni and so on.
So technically it will be separate members where TechM India is first holder joint with other individuals. If we can do that we intend to do this transfer in ensuing AGM itself.