As a Company Secretary of Kairar Ltd., state the special points to be checked by you in the matter of issue of foreign currency convertible bonds by the company.

As a Company Secretary of Kairar Ltd., the following points should be verified in the matter of issue of foreign currency convertible bonds: Check if the fresh FCCBs is raised with the stipulated average maturity period and applicable all in cost being as per the ECB guidelines. The amount of fresh FCCB shall not exceed the outstanding redemption value at maturity on the outstanding FCCBs. The fresh FCCB shall not be raised 6 months prior to the maturity date of outstanding. FCCB beyond USD500 million for the purpose if redemption of the existing FCCB will be considered under the approval route. The proposed of buyback/prepayment if FCCB from Indian Companies may be considered subject to condition that buy back value of FCCB shall be at a minimum discount of 5% on the accreted value.