them or by such Promoters or such firm or company in connection with the promotion or formation of our
Company.

For details of related party transactions entered into by our Company with our Promoters during the financial
year immediately preceding the date of this Prospectus, see “Financial Statements” on page 297.

Change in the Management and Control of our Company
Mr. Ravi B. Goyal is the original promoter of our Company. While VEPL is not the original promoter of our

Company and has acquired control of the Company in the five immediately preceding years as described below,
there has been no effective change in the management and control of the Company:

 

 

TPG Star SF ‘April 12,
Beta Pais 31,256,852 Cash 10 25.96% 86.18
Oriole Limited ae 19,797,412 Cash 10 16.44% 86.18

 

 

 

 

 

 

 

 

For details in relation to the shareholding of our Promoter and Promoter Group, and changes in the shareholding
of our Promoters, including in the five years preceding the date of this Prospectus, see “Capital Structure” on
page 83.

Payment or Benefits to our Promoters or Promoter Group

There has been no payment of benefits to our Promoters or the Promoter Group during the two years
immediately preceding the date of filing of this Prospectus, nor is there any intention to pay or give any benefit
to our Promoters or any members of our Promoter Group other than as stated in “Financial Statements” on page
217.

Our Company has not entered into any contract, agreement or arrangements during the two years immediately
preceding the date of this Prospectus and does not propose to enter into any such contract in which our
Promoters or the Promoter Group are directly or indirectly interested and no payments have been made to them
in respect of the contracts, agreements or arrangements which are proposed to be made other than as stated in
“Financial Statements” on page 217.

Material guarantees given by our Promoters to third parties

Other than as disclosed in “History and Certain Corporate Matters - Guarantees by the Promoter Selling
Shareholder” on page 192, our Promoters have not given any material guarantees to third parties with respect to
the specified securities of our Company.

Companies or firms with which our Promoters have disassociated in the last three years

Our Promoters have not disassociated themselves from, or sold or transferred their stake in, any company or
firm in the three years immediately preceding the date of this Prospectus.

Promoter Group

In addition to the Promoters named above, the following individuals and entities form a part of the Promoter
Group.

Individuals forming part of the Promoter Group

 

 

 

 

 

 

S.No. Name of the Individual Relationship with Mr. Ravi B. Goyal
1._| Mrs. Anupama R. Goyal Spouse of Mr. Ravi B. Goyal
2._[ Mr. Badrinarain K. Goyal Father of Mr. Ravi B. Goyal

 

212

 
