Aarvi Encon Limited — AGM Information 2021

Jul 29, 2021

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AEL/NSE/2021-22/18

Date: July 29, 2021

To,

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400051

Kind Attention: Head – Listing Symbol: AARVI

Sub: Gist of proceedings of the 33[rd] Annual General Meeting of the Company.

Dear Sir/Madam,

Please find the attached Gist of the proceedings of 33[rd] Annual General Meeting (AGM) of the Company held on July 29, 2021, Thursday at 11:00 A.M. through Video Conferencing / Other Audio Visual Means (VC/OAVM) mode as required under Schedule III read with Regulation 30 of SEBI (LODR) Regulations, 2015.

This document does not constitute minutes of the proceedings of the 33[rd] Annual General Meeting of the Company.

This is for your information, record and dissemination purpose.

Thanking You,

Yours Faithfully,

For Aarvi Encon Limited

LEELA Digitally signed by LEELA BISHT Date: BISHT 2021.07.29 16:20:17 +05'30'

Leela Bisht

Company Secretary & Compliance Officer Membership No.: A59748

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Gist of Proceedings of the 33[rd] Annual General Meeting (Fourth AGM Post – IPO of the Company) of Aarvi Encon Ltd.

1. Date, time and venue of the Meeting:

The 33[rd] Annual General Meeting (Fourth AGM Post IPO of the Company) was held on Thursday, July 29, 2021 via Video Conferencing (VC) or Other Audio Visual Means (OAVM).

The Meeting commenced at 11:00 A.M. and concluded at 11:35 A.M.

2. Proceedings in brief:

●Mr. Virendra D. Sanghavi, Managing Director of the Company, chaired the proceedings of the meeting. The requisite quorum being present, the chairman called the Meeting to order.

●19 Members present in person to conduct the proceedings of this meeting.

●The Chairman apprised the members about the performance of the Company during the F.Y. 2020-21. The Chairman also informed that the facility for remote e-voting commenced at July 26, 2021 at 10.00 A.M. and ended on July 28, 2021 at 05.00 P.M. Further, the facility to vote on resolutions through electronic voting system at the AGM was made available to the members who participated in the AGM and had not cast their votes through remote e-voting. The AGM was in compliance with the Circulars issued by the Ministry of Corporate Affairs, Government of India and Securities and Exchange Board of India.

●On Invitation by the Chairman, some members raised queries on various matters, have asked the queries in the Meeting, which were duly addressed by the Mr. Jaydev Sanghavi, Executive Director & CFO to their satisfaction.

●The 33[rd] AGM held through Video Conference Mode and Other Audio/Visual Means and the resolution mentioned in the notice convening this AGM have been put to vote through remote e- voting.

The following items of business were transacted at AGM:

Ordinary Business:

1. Adoption of:

• a) Audited Standalone Financial Statement of the Company for the Financial Year ended March 31, 2021 and the reports of the Board of Directors and Auditors thereon; and

• b) Audited Consolidated Financial Statement of the Company for the Financial Year ended March 31, 2021 and the report of Auditors thereon.

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1. Appointment of a Director in place of Mr. Virendra D. Sanghavi (DIN: 00759176), Managing Director of the Company, who retires by rotation and being eligible, offers himself for reappointment.

2. Declaration of Dividend @15% i.e. Re. 1.5/- per Equity Share of Rs. 10 each for the financial year ended on 31[st] March, 2021.

Special Business:

1. Re-appointment of Dr. Padma V. Devarajan (DIN: 08064987) as a Non-Executive Independent Director of the company for a second term of five consecutive years.

2. Approval of remuneration of Mr. Jaydev V. Sanghavi (DIN: 00759042), Executive Director & CFO of the company for the Financial Year (FY) 2020-21 and 2021-22.

3. Approval of Remuneration payable to Executive Directors under Reg. 17 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

●The Chairman informed the members that Bhatt & Associates Company Secretaries LLP has been appointed as scrutinizer for the purpose of scrutinizing remote e-voting and electronic voting at the AGM process in a fair and transparent manner.

●The Chairman, thereafter, thanked all the members for their participation at the AGM and for their constructive suggestions and observations. The Chairman informed the Members that the results of e-voting incl. remote e-voting shall be disseminated to the stock exchange and also uploaded on the websites of the Company within 48 hours of the Conclusion of the Meeting.

Notes:

1. This document does not constitute minutes of the proceedings of the Annual General Meeting of the Company.

2. The Dividend declared at the Meeting will be credited to the members on or before August 20, 2021.