Women Entrepreneurs Igniting the Startup Ecosystem

 

Women Entrepreneurs Igniting the Startup Ecosystem

"From Silent Contributors to Game Changers"

Imagine a time when women were expected to stay behind the scenes, their ambitions often dismissed as secondary to household responsibilities. That was India in the years immediately following independence in 1947. Entrepreneurship, for women, was nearly non-existent. While men were at the forefront of nation-building through industrial and business ventures, women were largely confined to traditional roles. However, over the decades, women gradually emerged as significant contributors to India's entrepreneurial landscape, overcoming societal and economic challenges.

The Early Years (1947–1970s): Women in Entrepreneurship—A Rarity

After independence, India was focused on economic recovery and industrialization under the leadership of Jawaharlal Nehru. Government policies were largely geared toward large-scale industries, infrastructure, and agriculture, with minimal focus on women’s participation in business.

·        Women were primarily engaged in micro-businesses and cottage industries, such as handicrafts, textiles, and food production. These businesses were informal and often home-based.

·        Education for women was limited, reducing their access to knowledge, financial resources, and networking opportunities essential for business growth.

·        Social stigma discouraged women from stepping into entrepreneurship, as business ownership was perceived as a male-dominated domain.

During this period, women like Kalpana Saroj, who later became a pioneer in Indian business, were struggling against deep-rooted gender biases. She was married at a young age but fought societal oppression to become a successful entrepreneur, eventually leading Kamani Tubes.

The Growth Phase (1980s–1990s): The First Wave of Women Entrepreneurs

As India moved into the 1980s and 1990s, economic liberalization and government policies began encouraging small and medium enterprises (SMEs). Women entrepreneurs slowly started emerging, though challenges remained:

·        The 1980s saw the rise of women-led cooperatives, particularly in sectors like dairy (e.g., Amul's women dairy farmers).

·        In 1991, economic liberalization opened doors for private enterprise, and women started stepping into industries like textiles, retail, and education.

·        Financial support from government schemes like SIDBI (Small Industries Development Bank of India) and Women Development Corporations made it easier for women to access funding.

Challenges Women Entrepreneurs Faced Post-Independence

Despite progress, women entrepreneurs faced (and continue to face) several challenges:

§  Limited access to capital – Banks and financial institutions were hesitant to provide loans to women, considering them ‘high-risk’ borrowers.

§  Lack of family and societal support – Entrepreneurship was still seen as a man’s domain, and many women struggled with balancing work and home life.

§  Legal and bureaucratic hurdles – Women faced difficulties in acquiring licenses, land, and other formal business approvals.

Though slow in the beginning, the post-independence years laid the foundation for today’s booming women-led startups. From home-based businesses in the 1950s to today’s billion-dollar enterprises like Nykaa, Sugar Cosmetics, and Mamaearth, women entrepreneurs have reshaped India’s economic landscape. The battle is far from over, but the path is now clearer than ever. 🚀

The Expansion Phase (2000s–Present): Women Entrepreneurs Taking the Lead

“From Local Enterprises to Global Giants”

The post-liberalization era of the 1990s paved the way for women to enter entrepreneurship. However, the early 2000s marked the true expansion phase, where women entrepreneurs not only started businesses but also scaled them into national and global success stories. This phase is defined by technological advancements, increased financial support, a growing startup culture, and a shift in societal attitudes toward women in leadership.

What Defines the Expansion Phase?

The expansion phase is characterized by rapid growth, scalability, and global outreach. Women entrepreneurs during this period are not just creating businesses but building brands, generating employment, and redefining industries. Unlike the growth phase (1980s-1990s), where women-led businesses remained small or medium-sized, this phase is marked by women-led unicorn startups, international investments, and greater market influence.

Key Factors Driving the Expansion Phase

1.      The Digital Revolution – The rise of the internet, e-commerce, and digital marketing has made it easier for women entrepreneurs to reach wider audiences without requiring large capital investments. Platforms like Amazon, Flipkart, and Instagram have helped small women-led businesses grow beyond geographical limitations.

2.      Increased Access to Capital – Unlike previous decades, where funding was scarce, this phase has seen a rise in venture capital firms, angel investors, and government-backed schemes supporting women entrepreneurs. Organizations like Kalaari Capital, SheCapital, and the Bharatiya Mahila Bank have specifically focused on funding women-led startups.

3.      Changing Mindsets and Support Systems – A cultural shift in India has led to more acceptance and encouragement for women entrepreneurs. Today, many women have support from families, mentorship programs, and women-centric business networks like FICCI Ladies Organisation (FLO) and Women’s Indian Chamber of Commerce and Industry (WICCI).

4.      Rise of Women-Led Unicorns – This phase has seen several women-led startups turning into unicorns (companies valued at over $1 billion).

 

Challenges Women Still Face in the Expansion Phase

ü  Gender Bias in Investments – Women-led startups still receive less than 6% of total venture capital funding, highlighting persistent biases.

ü  Balancing Growth and Family Responsibilities – Women entrepreneurs still struggle with the "double burden" of managing business growth while fulfilling family expectations.

ü  Scaling Beyond India – Expanding internationally comes with logistical, legal, and networking challenges, which male entrepreneurs often navigate more easily due to established connections.

Despite challenges, the expansion phase has positioned women entrepreneurs as industry leaders and economic powerhouses. With continued government support, financial investments, and digital advancements, the next phase could see even more women leading billion-dollar companies and transforming industries. The momentum is strong, and women are not just catching up—they are taking the lead.

A New Era of Women Entrepreneurs

And a decade ago, many women hesitated to step into entrepreneurship. Stability was equated with staying in familiar roles—handling family responsibilities, working behind the scenes, and waiting for approval before making bold moves. Self-doubt, fear of failure, and societal expectations dictated their choices. Many talented women held back, questioning, “Am I good enough?” “Will people take me seriously?” “What if I fail?”

But today, the landscape has changed. Women are no longer waiting for validation—they are creating their own success. They are action-takers, risk-bearers, and decision-makers. They are stepping into leadership and reshaping businesses, industries, and economies.

Breaking Barriers: Women Who Led the Way

Take Sudha Murthy—a woman who, despite facing biases, became an author, philanthropist, and the backbone of Infosys. She defied norms when she applied to TELCO (Tata Engineering and Locomotive Company) as the first female engineer, challenging gender restrictions. She didn’t wait for permission—she took action.

Or Indra Nooyi, who shattered ceilings to become the CEO of PepsiCo, proving that leadership isn’t about gender but about vision and execution. She once said, “There is nothing like work-life balance. It is a work-life choice.” She made tough choices and owned them.

Women like Falguni Nayar (Nykaa), Vineeta Singh (Sugar Cosmetics), and Ghazal Alagh (Mamaearth) weren’t handed success—they built it. They turned ideas into thriving businesses, embracing risks and uncertainty. They chose action over hesitation.

Bollywood Icons Turning Entrepreneurs

Not only corporate leaders but also Bollywood icons have embraced entrepreneurship, leveraging their fame to create successful businesses:

Ø  Katrina Kaif – Launched Kay Beauty, a brand promoting inclusivity and sustainable beauty products.

Ø  Priyanka Chopra Jonas – Founded Anomaly, an eco-friendly haircare brand, and co-owns the Indian restaurant Sona in NYC.

Ø  Deepika Padukone – Invests in startups like Epigamia and Blu Smart through KA Enterprises.

Ø  Anushka Sharma – Co-founded Clean Slate Filmz and launched her clothing brand, Nush.

Ø  Alia Bhatt – Created Ed-a-Mamma, a sustainable children’s clothing brand.

Ø  Twinkle Khanna – Transitioned from acting to writing and founded ‘The White Window,’ an interior design store.

Ø  Shilpa Shetty – Established IOSIS Wellness, a chain of spas and wellness centers.

These women have leveraged their influence to build successful businesses and inspire others to take the leap into entrepreneurship.

March: More Than a Celebration, A Call to Action

This month is about recognizing how strong, resilient, and hardworking women are. But beyond the applause and social media tributes, we must acknowledge the real challenge—women still fight for equal opportunities, financial independence, and leadership roles.

It’s not just about being recognized—it’s about being respected, being given opportunities, and, most importantly, taking those opportunities without hesitation.

"There is no force more powerful than a woman determined to rise." – W.E.B. Dubois

And today, YOU are that woman.

The Shift: From Hesitation to Bold Decision-Making

Earlier, a woman’s role was largely predefined. Society encouraged caution, not confidence. Women were often advised to play it safe, not to dream too big, and to choose careers that “fit” their expected roles. The result? Many women second-guessed themselves, doubted their worth, and ignored their ambitions.

Today, the modern woman operates differently. She no longer waits for permission to follow her dreams. She learns, adapts, and takes action.

Ø  She invests in herself – Learning new skills, enrolling in leadership programs, and growing her expertise.

Ø  She builds networks – Connecting with mentors, joining women-led communities, and seeking collaborations.

Ø  She takes ownership – Whether it’s starting a business, switching careers, or demanding better roles.

A decade ago, women feared failure. Now, they fear stagnation. They know that every risk they take is a step toward growth, not just for themselves but for generations to come.

The Economic Impact of Women Entrepreneurs

Women are now starting businesses at a faster rate than ever before. According to NASSCOM, 30% of Indian startups have at least one female co-founder. Women-led companies are 35% more profitable than their male-led counterparts.

1.        GDP Contribution: Women’s economic participation in India stands at 17% of GDP, far below the global average of 34%. Studies suggest that increasing women's participation could boost India’s GDP by $0.7 trillion by 2025 (World Bank).

2.        Job Creation: Women-led businesses generate an estimated 8 million job opportunities in India, strengthening household incomes.

3.        Social Media Entrepreneurship: Women dominate influencer marketing, with 77% of influencers monetizing their content being female. India's influencer marketing industry is expected to reach ₹3,375 crore by 2026 (Economic Times).

Women in Professional Services & Consulting

Women entrepreneurs are making significant strides in the consulting, legal, accounting, and advisory services sectors.

1.        Micro, Small, and Medium Enterprises (MSMEs): Women own 22% of all MSMEs in India, but face challenges in scaling beyond micro-enterprises.

2.        Challenges Faced in Consulting: Limited access to finance, fewer networking opportunities, and societal biases still hinder women in professional services.

3.        Government Support: Initiatives like Stand-Up India Scheme and Mahila e-Haat provide funding and digital platforms to support women-led businesses.

Government Initiatives Supporting Women Entrepreneurs

To encourage more women to become entrepreneurs, the Indian government has introduced several initiatives:

Stand-Up India Scheme – Provides loans between ₹10 lakh and ₹1 crore to at least one woman entrepreneur per bank branch for setting up a new business. 

Mahila e-Haat – A digital marketing platform by the Ministry of Women and Child Development to help women showcase and sell their products.

MUDRA Yojana – Offers micro-financing options to women entrepreneurs to start and expand small businesses.

NITI Aayog’s Women Entrepreneurship Platform (WEP) – A comprehensive support system for women entrepreneurs, offering mentorship, networking, and funding assistance.

These initiatives have been instrumental in enabling more women to turn their business dreams into reality.

Challenges Faced by Women Entrepreneurs & Strategies to Overcome Them

Despite the progress, women entrepreneurs still face several challenges:

Limited Access to Funding – Women entrepreneurs often struggle to secure investments and loans due to biases in the financial sector

Solution – Women-focused funding programs and venture capital firms like SheCapital and Kalaari Capital are now investing in women-led businesses.

Work-Life Balance Issues – Women often juggle family responsibilities alongside business ventures.
Solution – Flexible work arrangements, time management skills, and delegation can help maintain balance.

Networking Barriers – Many business circles are still male-dominated, making it difficult for women to access key connections.
Solution – Women should actively participate in networking platforms such as FICCI Ladies Organisation (FLO) and Women’s Indian Chamber of Commerce and Industry (WICCI).

The Global Perspective: Women in Entrepreneurship

Women entrepreneurs across the globe are breaking barriers and making significant contributions to their economies:

United States – Women-owned businesses contribute $1.8 trillion to the U.S. economy. Women-led startups, such as Bumble (by Whitney Wolfe Herd), have redefined industries.

Europe – The European Investment Bank offers dedicated funding schemes for women entrepreneurs, helping them scale their ventures.

China – The country has seen a rise in female-founded unicorn startups, with businesses like VIPKID (an online education platform) gaining global traction.

Africa – Women entrepreneurs drive innovation in sectors like agriculture and fintech, with organizations like She Leads Africa providing support.

Comparing India’s growth with global trends highlights the need for continued support, policy changes, and societal encouragement to help women entrepreneurs thrive.

Women as Motivational Speakers & Thought Leaders

Women entrepreneurs are also inspiring the next generation through motivational speaking. Two prominent female motivational speakers in India include:

ü  BK Shivani – A spiritual teacher and speaker, known for her series Awakening with Brahma Kumaris, which emphasizes inner peace and resilience.

ü  Priya Kumar – An award-winning corporate trainer and speaker who has worked with global organizations to inspire leadership and personal transformation.

These women use their voices to break stereotypes, provide mentorship, and foster societal progress.

“AI is Not Replacing Women, It’s Empowering Them”

As we move further into the digital and AI-driven era, the future of women entrepreneurs looks more promising than ever. The next decade will be defined by AI-powered businesses, automation-driven decision-making, and unprecedented opportunities for women in technology, leadership, and innovation. Women entrepreneurs will not just adopt AI; they will lead in creating, scaling, and transforming industries using AI-driven solutions.

What the Future Holds for Women Entrepreneurs in AI

By 2030 and beyond, women entrepreneurs will no longer be limited to traditional industries such as beauty, fashion, and home-based businesses. Instead, they will be at the forefront of AI-driven sectors, including deep tech, fintech, healthcare, and sustainability.

Rise of AI-Driven Startups Led by Women – Women entrepreneurs will leverage AI to build highly scalable businesses in sectors like healthtech, edtech, and finance. AI will allow women to automate operations, enhance customer experiences, and personalize products in a way that was never possible before.

AI as an Equalizer for Women in Business – AI will remove many of the traditional barriers women have faced in business—such as lack of access to funding, networking, and global expansion. AI-powered analytics and predictive funding models will help investors assess businesses on merit rather than gender biases.

Automation and Work-Life Balance – AI-driven automation will reduce the burden of operational tasks for women entrepreneurs, allowing them to focus on scaling their businesses while maintaining work-life balance. Tools like AI-driven virtual assistants, automated financial planning, and customer service chatbots will help women run businesses efficiently without requiring large teams.

Women in AI Research and Leadership – The future will see a rise in women-led AI startups and research labs, working on AI ethics, machine learning innovations, and next-gen automation technologies. Companies like OpenAI, Google DeepMind, and Tesla are already encouraging women to take leadership roles in AI-driven innovation.

Key Industries Women Will Dominate in the AI Era

1.        AI-Driven Healthcare Startups – Women will build AI-powered telemedicine, mental health platforms, and preventive healthcare solutions.

2.        Fintech & AI-Backed Financial Inclusion – AI-based microfinancing platforms and digital banking solutions will help more women access funding.

3.        AI-Powered Sustainability & Green Tech – Women-led AI startups will drive innovation in climate tech, renewable energy, and smart cities.

4.        EdTech Revolution – AI-powered personalized education platforms will enable women entrepreneurs to redefine digital learning.

Challenges Women Entrepreneurs May Face in the AI Era

1.        Bias in AI Algorithms – AI models today still reflect gender biases in hiring, funding, and recognition. Women must be part of AI development to create unbiased systems.

2.        Funding for Women-Led AI Startups – Although AI is a high-growth sector, only 2% of global venture capital goes to women-led AI startups.

3.        Lack of Representation in AI Policy-Making – More women need to be involved in shaping AI ethics, regulations, and development frameworks.

The Future is Female-Driven

Women entrepreneurs are not just igniting the startup ecosystem—they are transforming it. They are investing in other women, creating job opportunities, and breaking stereotypes.

But this shift isn’t just about those in the spotlight. It’s about every woman who chooses to step up, take action, and build a life on her terms.

This is your time. No more waiting, no more doubting. The future belongs to those who DARE TO DREAM BIG and TAKE ACTION. And that future starts now.

Navigating the Nexus: Balancing EODB Reforms with ESG Considerations

 Enhancing India's Ease of Doing Business (EoDB) ranking holds substantial implications for both businesses and the economy. Elevating India's standing in EoDB not only makes it a more appealing investment destination but also stimulates both domestic and foreign investments. This is achieved through streamlined regulations and efficient bureaucratic processes, which foster entrepreneurship by simplifying the process of starting and operating businesses. Consequently, such improvements drive innovation, job creation, and economic growth. Moreover, a higher EoDB ranking boosts India's competitiveness globally, allowing businesses to operate more efficiently and effectively.

Government reforms aimed at improving the business climate not only benefit businesses directly but also contribute to overall governance enhancements, promoting transparency and accountability. Ultimately, a conducive business environment created through enhancements in the EoDB ranking stimulates socio-economic development, leading to increased prosperity and well-being for Indian citizens.

India’s Commitment towards ESG

India has been increasingly demonstrating its commitment towards Environmental, Social, and Governance (ESG) principles in recent years. Some key aspects of India’s commitment towards ESG are outlined below, followed by a brief analysis of each:

1. Policy Initiatives: The Indian government has introduced various policies and initiatives aimed at promoting sustainability and responsible business practices. These include the National Action Plan on Climate Change, the Sustainable Development Goals (SDGs), and the Corporate Social Responsibility (CSR) mandate, requiring certain companies to allocate a portion of their profits to social and environmental initiatives.

2. Renewable Energy: India has made significant strides in renewable energy development, setting ambitious targets for renewable energy capacity expansion, including solar and wind power. Various schemes and incentives have been implemented to promote renewable energy generation and adoption.

3. Social Welfare Programs: India has several social welfare programs aimed at addressing poverty and improving healthcare, education, and sanitation. These initiatives contribute to the social aspect of ESG by enhancing the quality of life for its citizens.

4. Corporate Governance Reforms: Efforts have been made to enhance corporate governance standards in India. Regulatory bodies like the Securities and Exchange Board of India (SEBI) have introduced measures to improve transparency, accountability, and Board independence in listed companies.

5. Sustainable Finance: India has witnessed growing interest in sustainable finance, including green bonds, social impact investing, and sustainable banking practices. Financial institutions are increasingly integrating ESG factors into their investment decisions and risk assessments.

6. Stakeholder Engagement: There is a growing emphasis on stakeholder engagement and dialogue in India, with companies recognizing the importance of engaging with investors, employees, communities, and other stakeholders to address ESG concerns and build trust.

EODB Ranking and ESG Performance – A Brief Analysis

The potential synergies between Ease of Doing Business (EoDB) ranking and Environmental, Social, and Governance (ESG) performance offer a promising pathway toward fostering resilient and responsible business practices. Both EoDB ranking and ESG performance aim to enhance the sustainability and competitiveness of businesses while addressing societal and environmental concerns.

By examining their interplay, several key synergies emerge. Firstly, improvements in EoDB ranking can facilitate the implementation of ESG initiatives. A favorable business environment, characterized by streamlined regulatory processes, efficient governance structures, and robust legal frameworks, provides a conducive platform for companies to integrate ESG considerations into their operations. For instance, simplified administrative procedures for obtaining permits and licenses can expedite the adoption of environmentally sustainable practices, such as renewable energy investments or waste management initiatives. Similarly, transparent and accountable governance mechanisms supported by a strong rule of law can enhance corporate accountability and promote ethical behavior, aligning with social and governance aspects of ESG performance.

Conversely, advancements in ESG performance can enhance a country’s attractiveness for investment and business development, thereby contributing to an improved EoDB ranking. Companies with strong ESG credentials are increasingly viewed as more resilient and better equipped to manage risks and capitalize on opportunities in a rapidly changing business landscape. Consequently, investors and multinational corporations are drawn to jurisdictions that demonstrate a commitment to sustainable development and responsible governance practices. This influx of investment and expertise can stimulate economic growth, innovation, and job creation, ultimately boosting a country’s EoDB ranking by fostering a vibrant and competitive business ecosystem.

Moreover, the pursuit of EoDB reforms and ESG goals can reinforce each other, leading to mutually beneficial outcomes. For instance, initiatives aimed at enhancing transparency, accountability, and stakeholder engagement, integral to ESG principles, can also contribute to improving the ease of doing business by reducing regulatory uncertainty and enhancing investor confidence. Similarly, investments in infrastructure development and digitalization, often prioritized in EoDB reforms, can support environmental sustainability and social inclusivity objectives by promoting resource efficiency, enhancing access to essential services, and bridging digital divides.

Balancing Ease of Doing Business (EODB) reforms with Environmental, Social, and Governance (ESG) considerations presents policymakers, businesses, and stakeholders with several challenges and trade-offs.

Achieving a balance between regulatory simplicity and environmental sustainability is essential. Simplifying regulations to improve EODB rankings may inadvertently weaken environmental protections. Therefore, policymakers must develop streamlined processes that ensure compliance with environmental standards while promoting sustainable practices.

Balancing labor market flexibility with social welfare is another crucial aspect. Increasing labor market flexibility to boost EODB rankings may compromise labor rights and protections, leading to income inequality and social unrest. Policymakers must reconcile business agility with fair wages, safe working conditions, and social security nets to foster entrepreneurship while safeguarding workers' rights.

Managing the trade-off between financial deregulation and stability poses significant challenges. While deregulating financial markets can enhance EODB rankings, it may increase systemic risks and vulnerabilities, as evidenced during financial crises. Policymakers must ensure effective oversight and risk management frameworks to promote financial inclusion and access to credit without compromising market integrity or exposing economies to excessive speculation and volatility.

Striking a balance between corporate governance and shareholder value is essential. Prioritizing corporate governance practices to boost ESG performance may conflict with short-term profit maximization goals, particularly in shareholder-centric business models. Companies must align long-term sustainability goals with shareholder interests by integrating ESG considerations into their strategies to enhance long-term value creation while meeting shareholder expectations.

Maintaining investor confidence while ensuring regulatory certainty presents another challenge. Balancing investor confidence with regulatory certainty requires clear and consistent regulatory frameworks. Policymakers must communicate their commitment to sustainability and responsible governance practices while providing investors with assurances of regulatory stability and legal protection. This can be achieved through transparent communication and collaboration with stakeholders to build trust and foster sustainable investment flows.

Draft Notice of EXTRA ORDINARY GENERAL MEETING(EOGM) to alter object clause of company

 NOTICE IS HEREBY GIVEN THAT THE EXTRA ORDINARY GENERAL MEETING(EOGM) OF THE MEMBERS OF SHARK TANK INDIA PRIVATE LIMITED WILL BE HELD AT SHORTER NOTICE ON WEDNESDAY, 05TH DAY OF AUGUST 2020 AT 11:00 A.M., AT CORPORATE OFFICE SITUATED AT SECTOR 67 GURGAON, HARYANA-122002 TO TRANSACT THE FOLLOWING BUSINESSES:

SPECIAL BUSINESSES

ITEM:1 TO ALTER THE OBJECT CLAUSE OF THE COMPANY

To consider if thought fit to pass with or without the modification the following resolution as Special Resolution: -

“RESOLVED THAT pursuant to the provisions of section 13 of the Companies Act, 2013 and other applicable provisions, if any and pursuant to the Composite Scheme of Arrangement and Amalgamation between Shark Tank India Private Limited (Amalgamating/Transferor Company 1) and xyz Restaurants Private Limited (Transferor Company 2) and Shark Tank Restaurants Private Limited (Transferee Company)(“the Scheme”) the clause III (A) of the Memorandum of Association of the company containing the main objects to be pursued by the Company be and hereby altered by adding new clause to the existing one.

a. To carry on the business of providing support services to Shark Tank restaurant operations and other Shark Tank entities including operational, logistic, marketing, training and strategic advice and support, technical support, training center, web support back office, business or financial analysis, scientific analysis, research work and analysts, storage, customer relationship management, enterprise resources planning.

b. To import and distribute Shark Tank merchandise and materials used in the Shark Tank business as well as supply chain logistical support for running Shark Tank food and beverage outlets, restaurants, chain of restaurants, hotels, motels, food and beverage outlets in India and abroad.

RESOLVED FURTHER THAT any Director and Company Secretary of the Company, be and are hereby severally authorized to perform all the acts, deeds and things and to execute documents and to file necessary e forms with the Registrar of Companies of NCT of Delhi & Haryana and other statutory authorities, as may be necessary to give effect to the above-mentioned resolution and to take all such steps as may be necessary.”

ITEM:2 TO INCREASE THE AUTHORIZED SHARE CAPITAL

To Consider and if thought fit to pass with or without the modification the following resolution as Special Resolution: - “RESOLVED THAT pursuant to the provisions of Section 61 read with Sections 13,64 and all the other applicable provisions, if any, of the Companies Act, 2013, and the rules made thereunder (including any statutory modification(s) or re-enactment(s) thereof for the time being in force), the authorized share capital of the Company be and is hereby increased from Rs 19,62,00,000 /- (Rupees Nineteen Crores Sixty Two Lacs Only) divided into 1,96,20,000 (One Crore Ninety Six Lacs and Twenty Thousand Only) equity shares of Rs. 10/- (Rupees Ten Only) each to Rs. 125,00,00,000/- (Rupees One Hundred and Twenty-Five Crores Only) divided into 12,50,00,000 (Twelve Crores Fifty Lacs Only) Equity shares of Rs. 10/- (Rupee Ten only) each by addition of 10,53,80,000 (Ten Crore Fifty-Three Lacs Eighty Thousand Only) Equity shares of Rs. 10/- (Rupee Ten only) each.”

RESOLVED FURTHER THAT the clause V of the Memorandum of Association be replaced by the following new clause.

V. The Share Capital of the Company is Rs. 125,00,00,000/- (Rupees One Hundred and Twenty-Five Crores Only) comprising 12,50,00,000 (Twelve Crores Fifty Lacs Only) equity shares of Rs. 10/- (Rupees Ten) each.

RESOLVED FURTHER THAT any Director and Company Secretary of the Company be and are hereby severally authorized to perform all the acts, deeds and things and execute all such deeds, documents and writings, as he may in his absolute discretion deem necessary or incidental and do filings with the Registrar of Companies of NCT of Delhi & Haryana and other statutory authorities, as may be necessary to give effect to the above resolution and to take all such steps as may be necessary.”

ITEM:3 CHANGE IN CONVERSION RATIO OF COMPULSORILY CONVERTIBLE DEBENTURES(CCDs) ISSUED IN SHARK TANK SERVICES INDIA PRIVATE LIMITED AND XYZ RESTAURANTS PRIVATE LIMITED

To Consider and if thought fit to pass with or without the modification the following resolution as Special Resolution: - “RESOLVED THAT pursuant to the approved composite scheme of arrangement, consent of the shareholders of the Company be and is hereby accorded to transfer the Compulsory Convertible Debentures issued by SHARK TANK SERVICES INDIA PRIVATE LIMITED AND xyz RESTAURANTS PRIVATE LIMITED to the Company and to change the conversion ratio of such CCDs as per Fair Market Value of equity shares of the transferee Company.

“RESOLVED FURTHER THAT any Directors of the Company and Mr. Anshul, Director Finance be and are hereby are authorized to get the revised ratio approved by the debenture holders and get the necessary documents executed including but not limited to debenture agreements and to issue fresh Debenture certificates to the CCD holders.

ITEM: 4 TO ALIGN MEMORANDUM OF ASSOCIATION OF COMPANY AS PER COMPANIES ACT, 2013

To Consider and if thought fit to pass with or without the modification the following resolution as Special Resolution: - “RESOLVED THAT pursuant to the provisions of section 13(1) and other applicable provisions of the Companies Act, 2013 if any, (with or without modification(s), enactment(s) or re-enactment(s) thereof for the time being in force), alignment of sections of Companies Act, 1956 as per Companies Act,2013 as tabled before the meeting and initialed by the Chairman for identification, be and is hereby approved and adopted.

RESOLVED FURTHER THAT any Director and Company Secretary of the Company be and are hereby authorized to perform all the acts, deeds and things, execute documents and make all the filings with the Registrar of Companies and other statutory authorities, as may be necessary to give effect to the above resolution and to take all such steps for giving any such direction as may be necessary.”

ITEM:5 TO ALTER/ADOPT NEW SET OF ARTICLES OF ASSOCIATION OF COMPANY AS PER COMPANIES ACT, 2013.

To consider if thought fit to pass with or without the modification the following resolution as Special Resolution: -

“RESOLVED THAT pursuant to the provisions of Section 14(1) and other applicable provisions of the Companies Act, 2013, if any, (with or without modification(s), enactment(s) or re-enactment(s) thereof for the time being in force), altered set of Articles of Association of the Company to bring it in consonance with the provisions of Companies Act, 2013, as tabled before the meeting and initialed by the Chairman for identification, be and is hereby approved and adopted.