The Management Committee of the Board of Directors of Spandana Sphoorty Financial Ltd. at their meeting held on Saturday, June 13, 2020 has pursuant to the authority entrusted by the Board of Directors and within the limits as approved by the Members of the Company vide special resolution passed at the 16` Annual General Meeting held on July 11, 2020, approved the issuance of 1,000 rated, listed, secured, redeemable Non-Convertible Debentures having a face value of INR 1,000,000 each, aggregating upto an amount of INR 1,000 million on a Private Placement basis, in accordance with the provisions of Sections 42 and 71 of the Companies Act, 2013.