Akash Infra-Projects Limited — AGM Information 2019

Mar 2, 2019

Ph.: +91-79-23227006 Fax: +91-79 23231006 E-mail : info@akashinfra.com Web : www.akashinfra.com

Regd. Office: 2, G.F., Abhishek Building, Opp. Hotel Haveli, Sector-11, Gandhinagar-382011, Gujarat. (INDIA)

CIN: L45209GJ1999PLC036003

Date: 2nd March, 2019

To, National Stock Exchange of India Limited (SME) Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051 SYMBOL: AKASH

Dear Sir,

SUB: SUBMISSION OF MINUTES OF THE EXTRA ORDINARY GENERAL MEETING.

With reference to the above, please find enclosed herewith the Minutes of the Extra Ordinary General Meeting of the Company held on Thursday, 28th February, 2019 at 4.00 p.m. at Hotel Pathikashram, Nr. S.T.Depo., GH-3 Circle, GH Road, Sector-11, Gandhinagar, Gujarat 382007.

Kindly take the same on records.

Thanking you,

Yours faithfully,

FOR AKASH INFRA-PROJECTS LIMITED

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UPASNA PATEL COMPANY SECRETARY

AKASH INFRA-PROJECTS LIMITED

Minutes of the Extra Ordinary General Meeting of the members of the Company held on Thursday, 28th February, 2019 at 4.00 p.m. at "Pathikashram Hotel" Nr. S.T. Depo, GH-3 Circle, GH Road, Sector-11, Gandhinagar - 382 011.

Directors present:

	Mr. Yoginkumar H. Patel1.Mr. Ambusinh P. Gol2.Mr. Dineshkumar H. Patel3.Mr. Premalsinh P. Gol4.Mrs. Monika Shekawat5.Mr. Bhanuchandra Bhavsar6.	Chairman & Managing DirectorJt. Managing DirectorWhole Time DirectorWhole Time DirectorDirectorDirector
	In presence of:
	Mrs. Upasna Patel1.Mr. Sujit Padhi$\mathbf{2}$ .	Company SecretaryChief Financial Officer
	Chairman	Mr. Yoginkumar Patel, Chairman occupied the Chair and announcedthat the quorum for the meeting was present and declared the meetingto be in order. Mrs. Bhavana Gol and Mr. Ashwinkumar Jani, Directorsof the Company showed their inability to attend the meeting due topreoccupation.The Chairman further informed that auditor is exempted to attendExtra Ordinary General Meeting.
	Members Present	Members were present as per Attendance Register.
	Announcement of	The Company Secretary announced that no proxies were received.
	Proxies
	Documents and Registers	It was announced that required documents and statutory registers wereremained open and accessible for inspection to the members during thecontinuance of the meeting.
	Reading of Notice	The Chairman welcomed the members and briefed on the Company'sactivities and the rationale behind issuance of bonus shares.
		The Chairman than invited Company Secretary of the Company to readout the Notice of Extra Ordinary General Meeting and corrigendum andwith the consent of the members present, the notice convening themeeting was taken as read.
The Chairman then proceeded with the business of the Meeting.
	SPEICAL BUSINESSES:

To Increase Authorised Share Capital Of The Company. Item No. 1

Mr. Pradeep Shah proposed the following resolution as a Special Resolution.

RESOLVED THAT pursuant to the provisions of Section 61 of the Companies Act,

Chairman's Initial

2013 and Companies (Share Capital & Debentures) Rules, 2014, and any other applicable provisions, if any, of the Companies Act, 2013, the Authorised Share Capital of the Company be and is hereby increased from Rs. 16,00,00,000/- (Rupees Sixteen Crore only) divided into 1.60.00.000 (One Crore Sixty Lakh) Equity Shares of Rs. 10/-(Rupees Ten only) each to Rs.17,00,00,000/- (Rupees Seventeen Crore only) divided into 1,70,00,000(One Crore Seventy Lakh) Equity Shares of Rs. 10/- (Rupees Ten only) each.

RESOLVED FURTHER THAT pursuant to the provisions of Section 13 and all other applicable provisions, if any, of the Companies Act, 2013, the existing clause V of the Memorandum of Association of the Company be and is hereby substituted by the following new clause "V":

The Authorised Share Capital of the Company is Rs.17,00,00,000/- (Rupees V Seventeen Crore only) divided into 1,70,00,000 (One Crore Seventy Lakh) Equity Shares of Rs. 10/- (Rupees Ten only) each.

Mr. Ambusinh Gol seconded the resolution.

Thereafter the queries and comments were invited on the proposed resolution, however no questions were raised and the resolution was put to vote by Show of Hands and same was passed unanimously as a Special Resolution.

The Chairman being interested in the next item of business, Mrs. Monika Shekawat, Director of the Company was requested to take the chair. Accordingly she occupied the chair

Item No. 2 To Issue Bonus Shares.

an's Initial

Mr. Dineshbhai H. Patel proposed the following resolution as a Special Resolution.

RESOLVED THAT pursuant to Section 63 and other applicable provisions, if any, of the Companies Act, 2013 read with the relevant rules framed thereunder (including any statutory modifications or reenactments thereof for the time being in force), the relevant provisions of the Articles of Association of the Company and on the recommendation of the Board of Directors of the Company (herein after referred to as "The Board" which expression shall include the committee of the Directors duly authorized in this behalf, if any) and subject to the regulations and guidance issued by the Securities and Exchange Board of India (SEBI) including SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (as amended from time to time), SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR') and other applicable regulations and guidelines issued by SEBI, as amended from time to time and subject to such approvals, consents, permissions, conditions and sanctions as may be considered necessary from appropriate authorities and the terms and conditions, if any, as may be specified while according such approvals and subject to such terms and conditions, if any, consent of members be and is hereby accorded to the Board, for capitalization of a sum not exceeding Rs. 8,43,12,670 (Rupees Eight Crore Forty Three Lakh Twelve Thousand Six Hundred Seventy), from amount standing to the credit of the retained earnings / securities premium account, and / or any other permitted reserves / surplus of the Company as at March 31, 2018, be transferred to Share Capital Account and that such sum shall be applied for allotment of New Equity Shares of the Company of Rs. 10 (Rupees Ten Only) each as fully paidup Bonus Shares to the persons who, on the Record Date (to be determined by the

Board), shall be holders of the existing Equity Shares of Rs. 10 (Rupees ten Only) each of the Company, in the proportion of 1 (One) New Equity Share for every 1 (One) existing Equity Share held by such persons, on the footing that they become entitled thereto for all purposes as capital upon allotment of New Equity Shares.

RESOLVED FURTHER THAT the Equity Shares proposed to be issued and allotted as fully paid bonus shares shall rank pari - passu with the existing Equity Shares of the Company in all respects including as to dividend and shall be subject to relevant provisions of the Memorandum and Articles of Association of the Company.

RESOLVED FURTHER THAT for the purpose of giving effect to this resolution, the Board be and is hereby authorized to do all such acts, deeds, matters and things as it may in its absolute discretion deem necessary, desirable and expedient, including but without limitation to making application to Stock Exchange for obtaining in-principle approval, listing of shares, filing of requisite documents with the Registrar of Companies. National Securities Depository Limited (NSDL), Central Depository Services (India) Limited (CDSL) and/ or such other authorities as may be necessary for the purpose, to resolve and settle any questions and difficulties that may arise in the bonus issue and signing of all deeds and documents as may be required without being required to seek any further consent or approval of the shareholders and to do all the necessary incidental things as may be required to give effect to the proposed issue.

RESOLVED FURTHER THAT the Board be and is hereby authorized to do all such acts, deeds, matters and things as also to execute such documents, writings, etc. as may be necessary to give effect to the aforesaid resolution and delegate all or any of the powers herein conferred by above resolution to any Director or to any Committee of Directors or any other executive(s) / officer(s) of the Company or any other person at it may think fit.

Mr. Premalsinh Gol seconded the resolution

The Chairman of the Company invited the questions / queries from the members and the same were replied appropriately / satisfactorily and the resolution was put to vote by Show of Hands and same was passed unanimously as a Special Resolution.

Thereafter Mrs. Monika Shekawat, Director handed over the Chair back to Mr. Yoginkumar H. Patel, and accordingly he again took the chair.

Vote of Thanks: There being no other business to conduct, the meeting was concluded at 4.50 p.m.

Entered On: 1st March, 2019