ABC India Ltd. — AGM Information 2021

Sep 2, 2021

+.

Date: 02.09.2021

Date: 02.09.2021
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street. Fort. Mumbai — 400 001 Scrip Code: 520123	The Calcutta Stock Exchange Ltd. 7, Lyons Range. Kolkata —700 001. Scrip Code : 10011146

Dear Sir/ Madam.

Reg: Newspaper Publication of Notice to the Members for the Annual General Meeting (AGM) to be held through video conferencing (VC) / other audio video Mean

Enclosed please find the copy of Newspaper Publication in Business Standard (All Edition) in English and Ei Somoy — Kolkata in Bengali Newspapers on 2"4 September, 2021 in respect to the Annual General Meeting of the Company scheduled to be conducted via Video Conferencing (VC)/ Other Audio Video Means (OAVM), on Friday, 24" September, 2021.

The copies of the said publication are also available on the website of the Company at www.abcindia.com.

Please inform the same to all the concerned.

Thanking You.

Yours faithfully.

For ABC India Limited

S ozone Ag wu pal

Sanjay Agarwal Company Secretary & Compliance Officer

Encl: As stated

6 ECONOMY & PUBLIC AFFAIRS

Coupon set at7.72% in 1st domestic issue after new norms

ABHIJIT LELE Mumbai, 1September

State Bank of India (SBD said on Wednesday that it has raised %4,000 crore through additional tier-1 (AT1) bonds. The issue received overwhelming response, SBI said, and the coupon was fixed at 7.72 per cent.

SBI raises ~4,000 cr via perpetual bonds

Based on the response, the bank decided to accept 74,000 crore at a coupon of 7.72 per cent. This is the lowest pricing offered on such debt issued by any Indian bank since the implementation of Basel-HI capital rules in 2013.

SBI executives said the

capital is being raised to replace AT1 bonds (about %7,000-8,000 crore) that are maturing over the coming months. It is looking to raise up to 14,000 crore through

AT1 bonds. About raising the rest of the amount, SBI said it wil] take a call based on market conditions.

Its capital adequacy ratio (CAR) stood at 13.66 per cent with tier-I of 11.32 per cent at the end June. The common

This is the first such issue in the domestic market since the Securities and Exchange Board of India (Sebi) introduced valuation norms in April. The issue garnered overwhelming response from investors with bids in excess of %10,000 crore received against a base issue size of %1,000 crore, SBI said.

of its dollar-denominated additional tier-| bonds (ATI bonds) at 4.1 per cent, 30 basis points lower than its initial guidance of 4.4 per cent, and has raised about \$600 million through the issue. This is the second ATI

bond offering in the international market by an Indian bank within a fortnight. Recently, HDFC Bank raised \$1 billion via ATI bonds priced at 3.7 percent.

equity tier-l (CET1) was 9.91 per cent and ATI was 1.41 per cent in June. Its stock rose marginally to 429.7 per share on the BSE Sensex.

AT1 bonds are perpetual and can be called back by the issuer after five years or any anniversary date thereafter.

ABC INDIA LIMITED

CIN: L63011WB1972PLC217415 Regd. Office: P-10, New C.I.T. Road, Kolkata — 700 073 Corporate Office: 40/8, Ballygunge Circular Road, Kolkata-700019 Phone: (033) 22371745, 24614156, Fax: (033) 24614193, Email: vrmd@abcindia.com Website: www.abcindia.com

Members may please note that:-

NOTICE TO MEMBERS

Act, 2013. Members can attend and participate in the AGM through the VC/ OAVM ONLY. The detailed instructions with respect to such participations have been provided in the Notice convening the Meeting. Attendance of the members through VC/OAVM will be counted for the purpose of reckoning the quorum under section 103 of the Companies

NOTICE is hereby given that 48t Annual General Meeting (AGM) of the members of the Company for the financial year 2020-21 will be held through Video Conferencing (VC) or other Audio Visual Means (OAVM) on Friday, the 24th day of September, 2021 at 3:00 P.M. (IST) pursuant to circular dated January 13, 2021 read with circulars dated April 8, 2020, April 13, 2020 and May 5, 2020 (collectively referred to as "MCA Circulars") and the Securities and Exchange Board of India (LODR) Regulations, 2015 ("SEBI Listing Regulations") to transact the business as set forth in the Notice convening the AGM. The VC/OAVM facility is being availed by the Company from Central Depository Services (India) Ltd (CDSL).

• will be sent to any Members. 1. The Notice of 484 AGM, Annual Report and other reports/documents (AGM documents) have been sent through electronic mode only to such Members whose e-mail addresses are registered with their respective Depository Particlpants (DPs) or the Company's Registrar and Share Transfer Agent (RTA) viz. M/s. MCS Share Transfer Agent Limited. In compliance with the SEBI Circular, no physical copies of AGM documents
• 1. The AGM related documents would be made available on the websites of the Company at www.abclindla.com, the website of CDSL at www.cdslindia.com, the Stock Exchanges viz., Bombay Stock Exchange of India Limited at www.bseindia.com and CSE Ltd. at www.cseindia.com.
• 1. Pursuant to Regulation 44 of the SEBI Listing Regulations and Section 108 of the Companies Act, 2013 and the Rules framed thereunder, the Company is providing e-voting facilities to the Members of the Company holding shares either in physical or in dematerialized form as on the cut-off date i.e. 17" September, 2021 to cast their vote electronically through e-voting services provided by Central Depository Services (India) Ltd. (CDSL) on all resolutions set out in the Notice of the AGM. Please also note that:
• time. a. The Remote e-voting period shall commence on Tuesday, 21%t September, 2021 at 9.00 A.M. (IST) and shall end on Thursday, 23 September, 2021 at 5.00 P.M. (IST). The remote e-voting module shall be disabled thereafter and voting through electronic mode shall not be allowed beyond the said date and
• b. Cut-off date: Friday, 174 September, 2021
• Pursuant to section 91 of the Companies Act, 2013 and Reg the Register of Members shall be closed from Saturday, 18" September, 2021 to Friday, 24th September, 2021 (both days inclusive) for the purpose of the AGM & payment of Dividend. ulation 42 of SEBI (LODR) Regulations, 2015,
• vrmd@abcindia.com. d. Any person, who acquires shares of the Company and become member of the Company after dispatch of the notice and holding shares as on the cut-off date i.e. 27!h August, 2021, may obtain the login-ID and sequence number by sending a request to RTA at messta@rediffmail.com or to the Company at

However, if the member is already registered with CDSL for e-voting then such member can use his/her existing User ID and password for casting his/her vote.

e. Members attending the AGM who has not casted their votes by remote e-voting shall be eligible to cast their vote through e-voting during the AGM. Members who have casted their votes through remote e-voting shall be eligible to attend the AGM, however, shall not be eligible to vote again at the meeting. f. In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked Questions ("FAQs") and e-voting manual available at www.evotingindia.com under help section or write an email to helpdesk.evoting@cdsllndla.com or contact them at 022 23058542.

• manner. 7. The Company has appointed Mr. Santosh Kumar Tibrewalla, Practicing Company Secretary as Scrutinizer to scrutinize both the electronic voting process and voting process at the venue of AGM in fair and transparent
• 1. Manner of registering mandate of receiving Dividend electronically: Members holding shares in physical form and whose bank account details are not yet registered with the Company can provide a request letter informing the bank account number, name of bank, branch along with self-attested copies of PAN, proof of address, cancelled cheque and share certificate(s) to the Company at vrmd@abclindla.com or to the RTA at messta@rediffmail.com to enable direct credit of dividend into their bank accounts in a secured manner.
• respective DPs. 9. For shares held in dematerialized form, Members are required to update the bank account particulars with their
• 1. In view of the amendment to the Income Tax Act, 1961 vide the Finance Act, 2020 making the dividends taxable in the hands of the shareholders effective from 1° April 2020, Members are requested to update the details of their residential status, PAN & category as per Income Tax Act, 1961 with the Company at vrmd@abcindia.com in case of shares held in physical form and with your DP in case of shares held in demat form.
• moloyb@cdslindia.com 11. In case of any query or grievances connected to e-voting, please contact Mr. Moloy Biswas, Regional Manager (CDSL), Kolkata at Phone (033) 2282-1376 or e-mail : helpdesk.evoting@cdslindia.com or

4. Manner of registering/updating e-mail addresses:

vrmd@abcindia.com. For any clarification regarding the AGM documents or participation in the AGM, you may contact us at

	For ABC India Limited Sd/-
Place: Kolkata Date: 01.09.2021	Sanjay Agarwal Company Secretary

to consume, the lack of supply impacted consumption. Despite the presence of these restrictions, | consumption grew at about 20 per cent, which is noteworthy.

• *« Members holding shares in dematerialized mode and who have not registered their e-mail addresses are requested to register their e-mail addresses and mobile numbers with their respective DPs to enable the Company/RTA to mail the Annual Report in future.
• ¢« Members holdings shares in physical mode who have not updated their e-mail addresses with the Company/RTA are requested to update their e-mail addresses by writing to the Company/RTA at vrmd@abcindia.com or at messta@rediffmail.com along with the scanned signed copy of the request letter providing their e-mail address, mobile number along with self-attested copies of PAN, proof of address and share certificate(s) by to enable the Company/ RTA to mail the Annual Report in future.
• * Post updation of email ids, Members holding shares as on the cut-off date may request Company/ RTA for a copy of the Annual Report for the F.Y. 2020-21.

5. Manner of casting vote through e-voting:

• ¢ Members whose name is recorded in the register of members or the register of beneficial owners maintained by the depositories as on the cul-off date only will be provided with the facility to cast their votes electronically, through the e-voting services provided by Central Depository (India) Services Ltd. (CDSL) on all resolutions set forth in the Notice through remote e-voting as well as e-voting during the AGM.
• ¢ The login credentials for casting the votes through e-voting would be provided to the Members at their e-mail addresses registered for this purpose in the manner prescribed above.
• « The detailed instructions to the Members for participating in the 48!" AGM through VC/OAVM including the manner of participation and voting would be set out in the Notice of AGM.
• 1. Shareholders may please note that the Board of Directors of the Company at their meeting held on 29" June, 2021 has recommended Dividend of 5% i.e. ¥ 0.50 per equity shares (face value ¥ 10/- each). The dividend, subject to the approval of Members, will be paid to the Members whose names appear in the Register of Members, as on the cut-off date i.e. Friday, 17th September, 2021 through various online transfer mechanisms to the shareholders who have updated their bank details.

For the Shareholders who have not updated their bank account detalls, dividend warrants/ demand drafts/cheques as permitted under the law will be sent to the registered addresses once the postal facility is normalised.

'Low base not sole contributor

to GDP growth in June quarter'

If the third Covid wave is muted, there's likely to be a growth in consumption like in the

January-March quarter, chief economic adviser KRISHNAMURTHY SUBRAMANIAN said in a conversation with Shrimi Choudhary. He pointed out that if there was no second wave and mobility indicators had continued to rise the way they did in Q4, the numbers would have been far higher. Edited excerpts:

Demand is still subdued at 55.8 per cent of GDP against 56.9 per cent a year ago and 59.2 per cent in Q4 of FY21.

recovery in the economy? Consumption in Ql was

impacted by the restrictions, especially in retail activity. For most of May and June, shopping malls, shops, and bazaars were closed. The mobility was restricted in many states. As a result, even if people wanted

When do you expect demand the restrictions have been lifted, the demand should come back. And since vaccination is proceeding strongly, contact intensive sectors too will revive.

indicators' move- adviser ment is much better in the ongoing second quarter (July-August) mainly because restrictions have been lifted significantly. Despite the devastating second wave, the consumption activity grew by 20.1 per cent — that too, despite the

Do you think the momentum will continue? Economists have cautioned that the low base effect is set to wear offin the coming quarters. KRISHNAMURTHY SUBRAMANIAN

state-level restrictions. It's not just enough to say that this is happening due to a low base. It's happening even though we had such an intense second wave. As we saw in Q2, Q3 and Q4 of FY21, when the pandemic was slightly muted, the consumption had ramped up, and this time around, we should expect the same.

The growth is down 17 per

cent sequentially and more than 9 per cent from Q1 of 2019-20. Can we really say we are ona robust growth path? This recovery has happened, despite an intense second

All high-frequency Chief economic

wave. If you look at the google mobility indicators, they started falling April onwards, and recovered back to the previous

Last year and Q1 of this year, the impact is primarily because of the restrictions required by the pandemic; last year, Ql was impacted by the first wave of the pandemic and this year Q1 growth was lower than otherwise because of the second wave-induced restrictions. As the restrictions were placed at the state level in Q1 this year, the recovery has continued. In fact, if the second wave had not happened and mobility indicators had continued to rise the way they were doing in Q4, the numbers would have been far higher. Therefore, when you assess recovery, you have to take the economic fundamentals into account, which is reflecting in growth number despite the intense second wave. But as

levels only in mid-July. So the entire Ql, both retail and grocery activity indicators were significantly down, and as they peaked in mid-May, they were actually 70 per cent down compared to the March 31 level. So, _ despite significant restrictions at the state level, the con-

sumption had grown 20 per cent and so has investment by 55 per cent, of course from a lower base.

The decline and the subsequent recovery was not reflecting anything about the fundamentals of the economy. It is only reflecting the economic restrictions that were placed or removed. The restrictions in Q1 last year led to the decline, the recovery since then in Q2, Q3 and Q4 reflected the reduction of the restrictions. Now, the continued recovery in Qi this year has manifested due to the restrictions at the state level instead of the national level.

The GDP growth has clearly

6© THE DECLINEAND THE SU BSEQUENT RECOVERY WAS NOT REFLECTING ANYTHING ABOUT THE FUNDAMENTALS OFTHE ECONOMY. ITIS ONLY REFLECTING THE ECONOMIC RESTRICTIONS THAT WERE PLACED OR REMOVED"

gone up after declining 24.4 per cent. When you plot the growth, — 75 per cent for Q2, 0.4 per cent for Q3, 1.6 per cent for Q4 and 20.1 per cent for Q1 now — all you see is a 'V'. You don't see any other alphabet in the shape there.

question about recovery in sec-

tors.... Some sectors, particularly the contact-sensitive ones, have been most impacted for sure. For instance, after the global financial crisis, manufacturing got impacted far more than services. Therefore, I think that kind of difference always persists. But at the macro-economic level, which is captured by GDP growth, the perform ance has been a V-shaped one.

Experts say this is a K-shaped recovery, with informal sector and small companies not doing well. Is thata correct assessment?

75°%o EMPLOYEES NOW WANT TO GO BACK TO OFFICE, SAYS REPORT

Last year, around this time, when I had said this, no one believed it. Now, when all the macroeconomic numbers have indeed manifested, people have changed the goalpost and a

With the Covid-19 pandemic forcing people indoors last year, the work-from-home (WFH) culture had taken the front seat. One and half years later, however, the trend seems to be reversing. Alatest survey by JLL shows nearly 75 per cent of the employees are now willing to start visiting offices and optfor a hybrid model, which will include WFH and office visits. There is also a decline in the share of people who believe that productivity at home is higher. Employees seem to be losing faith in their current employers and consider a hygienic and secure office environmentto be the most crucial.

COMPILED BY ARNAB DUTTA

BACK TO OFFICE

75% want to go to office vs 52% last year

2020 2021 (in%)

Want

to start visiting —E office 5

Prefer a hybrid model*

Prefer to work from thirdparty set-ups like coworking, cafes, etc. *included WFH & office visits

a 2 64

92 89

6

FLEXIBLE WORKING HOURS

Most want flexibility Able to choose flexible working hours

69

ee 9!

Switching to 4-day work

week a ⁷³

⁸⁶

Living far away & going to

office when necessary a 61

82

PRODUCTIVITY DECLINING Fewer people feel more productive at home now

JOB SATISFACTION

Fewer people satisfied with current employer

Code of conduct for CoCs may lead to litigation, say industry experts

RUCHIKA CHITRAVANSHI New Delhi1September

With the Insolvency and Bankruptcy Board of India (IBBI) proposing a code of conduct for the committee of creditors (CoCs), industry experts feel that it is not required since most entities under the CoC are well regulated already. Such a code could lead to litigation and may affect decision making of the committee, cautioned the experts. Last week, the insolvency

regulator invited suggestions on its discussion paper, suggesting a code of conduct for CoCs, whose actions sometimes, as IBBI puts it, have been detrimental to the objectives of the code.

IBBI has said that the CoC functions in an unregulated environment. It has also proposed restrictions on requestfor-resolution plans and use of Swiss challenge in corporate insolvency resolution process (CIRP).

"Given that CoCs typically consist of well-regulated entities such as banks, NBFCs (non-banking financial companies) and mutual funds, there doesn't appear to be a need for a code of conduct. The job vested with the CoC requires a high level of analysis where it has to balance the interest of stakeholders, maximise value and work towards a resolution. Such tasks don't adhere to prescriptive solutions," said Bikash Jhawar,

partner, Saraf & Partners.

Legal experts also point out that Section 240 (2) (r) read with Section 24 (8) empowers the IBBI to prescribe the manner in which the meetings of CoCs shall be conducted. Therefore, the

board is empowered to prescribe the manner of conducting the meeting that can include code of conduct for

the CoC members. "Given that CoC members have tremendous power of decision making, it would be prudent to introduce a code of conduct which the CoC members need to follow while participating in a meeting," Anoop Rawat, partner, Insolvency & Bankruptcy at Shardul Amarchand

Mangaldas & Co said. The 32nd report of the Parliamentary Standing Committee on Finance had recommended the same, stating, "There is an urgent need to have a professional code of conduct for the CoC, which will define and circumscribe their decisions, as these have larger implications for the efficacy of the code."

Many experts feel that a code of conduct would open the CoC decisions to multiple claims and counterclaims from different persons, whether their grievance is genuineor otherwise, and hamper decision making significantly. "CoC has been given commercial freedom by the

Supreme Court itself and that is where the buck should stop," Jhawar added. IBC practitioners are also awaiting clarity on the working

of Swiss challenge under CIRP. Swiss challenge is a bidding process where the original bidder makes an unsolicited bid to the auctioneer. Once approved, the auctioneer then seeks counter proposals against the original bidder's proposal and chooses the best among all options. The original bidder in most cases is granted the "right to first refusal."

Nothing to hide: AU SFB on top-level resignations

Jaipur-based AU Small Finance Bank (AU Bank) on Wednesday tried to allay investors' and depositors' concerns on the top-level resignations in recent months, saying that it is a "simple HR issue" that it is trying to resolve.

In an early morning investor call, Sanjay Agarwal, managing director and chief executive officer, said the bank has "nothing to hide" and there is nothing on the "governance issue".

On Tuesday, the bank had said that its Chief Audit Officer Sumit Dhir has expressed his desire to move back to his hometown Delhi, due to changes in his personal circumstances following the Covid-19 second wave.

Agarwal said: "As per the RBI regulation, we disclose anything within 24 hours if there is anything. We have already completed three years of our audit from the RBI and if we haven't published anything, you can rest assured that there was nothing really alarming or material to be disclosed, for that is governed by the regulation."

Shares of the company witnessed a sharp decline of 12.64 per cent on Tuesday even as the broader market ended with significant gains. However, its gained 2.16 per cent on Wednesday, ending the day at 21,155.15 apiece.

A prospective investor during the call raked up the Reserve Bank of India's (RBI's) audit issue.

$512112$

$11 - 14 - 21$

এই সময়, পাঁশকুড়া: কনকপুরে

রেললাইনের ধার থেকে এক যুবকের

এবিসি ইন্ডিয়া লিমিটেড

CIN: L63011WB1972PLC217415

ব্রেজিস্টার্ড অফিসঃ পি-১০, নিউ সি.আই.টি. রোড, কলকাতা-৭০০০৭৩

কর্পোরেট অফিস ঃ ৪০/৮, বালিগঞ্জ সার্কুলার রোড, কলকাতা-৭০০০১৯

ফোন ঃ (০৩৩) ২২৩৭১৭৪৫, ২৪৬১৪১৫৬, ফ্যাক্সঃ (০৩৩) ২৪৬১৪১৯৩, ই-মেল ঃ vrmd@abcindia.com

s श्वयनांदेंगे : www.abcindia.com

এবিসি ইন্ডিয়া লিমিটেড-এর তরফে স্থাঃ

ন্তান ঃ কলকাতা তারিখঃ ০১.০৯.২০২১

সঞ্জয় আগরওয়াল কোম্পানি সেক্রেটারি

Chairperson Board of Administrators Bankura Municipality

$Sd$

concerned

HWH-97/2021-22