Ashima Ltd — AGM Information 2023

Aug 25, 2023

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25[th] August, 2023

To, BSE Limited Corporate Relationship Department, 25[th] Floor, P J Towers, Dalal Street, Fort, Mumbai – 400001 SECURITY CODE NO. 514286

To,

National Stock Exchange of India Ltd Exchange Plaza 5[th] Floor, Plot no. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 SECURITY CODE NO. ASHIMASYN

Dear Sir/ Madam,

Sub: Proceedings of the 40[th] Annual General Meeting of the Company

Pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the proceedings of the 40[th] Annual General Meeting of the Company held on Friday, 25[th] August, 2023 through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”).

This is for your information and records.

Thanking you,

Yours faithfully, For Ashima Limited

Digitally signed by SHWETA SULTANIA DN: c=IN, o=Personal, pseudonym=15E92D174FBF210DD1525EB2B4 SHWETA B54047AAE6E221, 2.5.4.20=3773c076ef0163b5656e1803e4086aa 591e270c11fb2ca81ccbc10ce9cc0b102, postalCode=380055, st=Gujarat, serialNumber=5988C6AC8A761CA9A45C62B8 SULTANIA D07A0E8CCD50129BC3A36104135D915AEB1FF57A, cn=SHWETA SULTANIA Date: 2023.08.25 15:22:33 +05'30'

Shweta Sultania Company Secretary & Compliance Officer

Encl: As above

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PROCEEDINGS OF THE 40[TH] ANNUAL GENERAL MEETING

The 40[th] Annual General Meeting (AGM) of the Company was held on Friday, 25[th] August, 2023 through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”) in compliance with the provisions of the Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, General Circular Nos. 14/2020 dated 8[th] April, 2020, 17/2020 dated 13[th] April, 2020, 20/2020 dated 5[th] May, 2020, 02/2021 dated 13[th] January, 2021, 02/2022 dated 5[th] May, 2022 and 10/2022 dated 28[th] December, 2022 issued by the Ministry of Corporate Affairs and Circular Nos. SEBI/HO/CFD/CMD1/CIR/P/2020/79 dated 12[th] May, 2020, SEBI/HO/CFD/CMD2/CIR/P/2021/11 dated 15[th] January, 2021, SEBI/HO/CFD/CMD2/CIR/P/2022/62 dated 13[th] May, 2022 and SEBI/HO/CFD/PoD2/P/CIR/2023/4 dated 5[th] January, 2023 issued by the Securities and Exchange Board of India.

Mr. Chintan N Parikh, Chairman & Managing Director of the Company presided over the meeting and welcomed the Members to the 40[th] AGM of the Company and ascertained the quorum of the meeting and called the meeting to be in order. It was noted that all the Board Members were present in the AGM through VC/OAVM and he recorded the attendance of Directors and Auditors present in the AGM.

The Chairman introduced the Board Members present in the meeting and stated that the Chairman of the Audit Committee, Nomination and Remuneration Committee and the Stakeholders Relationship Committee were present in the meeting.

The Statutory Auditor and the Secretarial Auditor of the Company were also present in the meeting through VC/OAVM.

Thereafter, the Chairman delivered his speech. Starting with his views on brief about the state of the economy, he analyzed the financial performance of the Company for the F.Y. 2022-23 including textile and investment activities. He also briefed the shareholders about the projects of the Real Estate Division and his outlook for the future.

Thereafter, the Chairman commenced the formal business of the 40[th] AGM.

The Chairman informed the Members that pursuant to the provisions of Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014, as amended and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended and the aforesaid MCA Circulars and SEBI Circulars, the Company has provided the remote e-voting facility to the Members of the Company to exercise and cast their

SHWETA SULTANIA

Digitally signed by SHWETA SULTANIA DN: c=IN, o=Personal, pseudonym=15E92D174FBF210DD1525EB2B4B54047AAE6E221, 2.5.4.20=3773c076ef0163b5656e1803e4086aa591e270c11fb2ca81ccbc10ce9cc0b102, postalCode=380055, st=Gujarat, serialNumber=5988C6AC8A761CA9A45C62B8D07A0E8CCD50129BC3A36104135D915AEB1FF57A, cn=SHWETA SULTANIA Date: 2023.08.25 15:23:04 +05'30'

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votes in proportion to their shareholding as on the cut-off date i.e. 18[th] August, 2023. Remote E- Voting was kept open from Tuesday, 22[nd] August, 2023 at 9:00 a.m. to Thursday, 24[th] August, 2023 till 5:00 p.m. Members who were present in the AGM through VC/OAVM and have not cast their votes through remote e-voting facility were provided an opportunity to cast their votes during the meeting through e-voting system made available during the AGM.

The Company has appointed Mr. Tapan Shah, Practising Company Secretary, as a scrutinizer for conducting the remote e-voting process and e-voting system on the date of AGM, in a fair and transparent manner.

With the permission of the Members present in the meeting, the Notice convening the AGM and the Directors Report forming part of 40[th] Annual Report- 2022-23 as sent by electronic mode to all Members whose email addresses are registered with the RTA of the Company/ Depository Participant(s) and also available on the Company’s website www.ashima.in were taken as read. The Independent Auditors Report on Financial Statements and Secretarial Audit Report forming part of 40[th] Annual Report-2022-23 which were also circulated as above, did not contain any qualifications or adverse remarks and therefore the same was not required to be read.

The following items of business as set out in the Notice of 40[th] AGM were transacted in the AGM:

ItemNo.	Agenda Item	Type ofResolution
Ordinary Business :
1.	To receive, consider and adopt the Audited Financial Statements of theCompany for the financial year ended March 31, 2023 and the Reportsof the Board of Directors and the Auditors thereon.	Ordinary
2.	To appoint a Director in place of Mr. Krishnachintan Parikh, ExecutiveDirector (DIN: 07208067), who retires by rotation and being eligible,offers himself for re-appointment.	Ordinary
Special Business :
3.	Revision in Remuneration of Mr. Shrikant Pareek (DIN: 02139143),Director (Operations) of the Company.	Special
4.	Re-appointment of Mr. Shrikant Pareek (DIN: 02139143) as a Whole-time Director, designated as “Director (Operations)” of the Company.	Special
5.	Re-appointment of Mr. Sanjay S. Majmudar (DIN: 00091305) as anIndependent Director of the Company.	SpecialSHWETADigitally signed by SHWETA SULTANIADN: c=IN, o=Personal,pseudonym=15E92D174FBF210DD1525EB2B4B54047AAE6E221,2.5.4.20=3773c076ef0163b5656e1803e4086aa591e270c11fb2ca81ccbc10ce9cc0b102,postalCode=380055 st=Gujarat
		SULTANIA, ,serialNumber=5988C6AC8A761CA9A45C62B8D07A0E8CCD50129BC3A36104135D915AEB1FF57A, cn=SHWETA SULTANIADate: 2023.08.25 15:23:25 +05'30'

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6.	Re-appointment of Mrs. Koushlya V. Melwani (DIN: 01575110) as anIndependent Director of the Company.	Special
7.	Ratification of remuneration of Cost Auditor.	Ordinary
8.	Approval for Material Related Party Transaction.	Ordinary

Thereafter, the Chairman requested the CFO to proceed with the Question and Answer session. The CFO then took over the session and announced the names of the members one by one who have registered as speakers and requested them to ask questions/ express their views. The questions/ queries raised by the members were suitably responded and clarifications were provided.

The combined results of the remote e-voting as well as e-voting during the AGM would be announced within two working days from the conclusion of the AGM and the voting results along with the Scrutinizer’s Report would be intimated to Stock Exchanges where the shares of the Company are listed and shall also be uploaded on the Company’s website www.ashima.in and on the website of the agency www.evotingindia.com

The Chairman then thanked all the members, directors and auditors for attending and participating in the AGM through VC.

The AGM commenced at 11:35 a.m. and concluded at 12:05 p.m. with a vote of thanks to the Chairman.

Thanking you,

Yours faithfully, For Ashima Limited

Digitally signed by SHWETA SULTANIA DN: c=IN, o=Personal, pseudonym=15E92D174FBF210DD1525EB SHWETA 2B4B54047AAE6E221, 2.5.4.20=3773c076ef0163b5656e1803e408 6aa591e270c11fb2ca81ccbc10ce9cc0b102, postalCode=380055, st=Gujarat, serialNumber=5988C6AC8A761CA9A45C62 SULTANIA B8D07A0E8CCD50129BC3A36104135D915 AEB1FF57A, cn=SHWETA SULTANIA Date: 2023.08.25 15:23:56 +05'30'

Shweta Sultania Company Secretary & Compliance Officer

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