Ashima Ltd — AGM Information 2024

Aug 17, 2024

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17[th] August, 2024

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

To,

National Stock Exchange of India Ltd Exchange Plaza 5th 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 41[st] 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 41[st] Annual General Meeting of the Company held on Saturday, 17[th] August, 2024 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 JAYESH JAYESH CHAMPAKLAL BHAYANI CHAMPAKL Date: 2024.08.17 17:42:39 +05'30' AL BHAYANI Adobe Acrobat version: 11.0.23 Jayesh C. Bhayani Chief Financial Officer

Encl.: As above

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PROCEEDINGS OF THE 41[st] ANNUAL GENERAL MEETING

The 41[st] Annual General Meeting (AGM) of the Company was held on Saturday, 17[th] August, 2024 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, 10/2022 dated 28[th] December, 2022 and 09/2023 dated 25[th] September, 2023 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, SEBI/HO/CFD/PoD2/P/CIR/2023/4 dated 5[th] January, 2023 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2023/167 dated 7[th] October, 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 41[st] AGM of the Company and ascertained the quorum of the meeting and called the meeting to be in order.

Mr. Jayesh Bhayani, Chief Financial Officer (CFO) of the Company, recorded the attendance of Directors and Auditors present in the AGM. It was noted that all the Board Members except Dr. Bakul Dholakia (Independent Director) were present in the AGM through VC/OAVM. He 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.

The CFO 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 votes in proportion to their shareholding as on the cut-off date i.e. 10[th] August, 2024. Remote E-Voting was kept open from Wednesday, 14[th] August, 2024 at 9:00 a.m. to Friday, 16[th] August, 2024 till 5:00 p.m. Members who were present in the AGM

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through VC/OAVM and have not cast their votes through remote e-voting facility were provided an opportunity to cast their votes during and 15 minutes after the conclusion of 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.

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. 2023-24 including textile, real estate and investment activities. He also briefed the shareholders about the projects of the Real Estate Division and his outlook for the future.

Thereafter, the CFO commenced the formal business of the 41[st] AGM.

With the permission of the Members present in the meeting, the Notice convening the AGM and the Directors Report forming part of 41[st] Annual Report - 2023-24 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 41[st] Annual Report-2023-24 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 41[st] AGM were transacted in the AGM:

AGM:
Item No.	Agenda Item	Type of Resolution
Ordinary	Business:
1.	To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2024 and the Reports of the Board of Directors and the Auditors thereon.	Ordinary
2.	Appointment of a Director in place of Mr. Chintan N. Parikh, Chairman and Managing Director (DIN: 00155225), who retires by rotation and being eligible, offers himself for re-appointment.	Ordinary

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Special Business:

Special Business:	Special Business:	Special Business:
3.	Appointment of Mr. Nilesh Bansilal Mehta (DIN: 00199071) as an Independent Director of the Company.	Special
4.	Approval of payment of remuneration to Independent Directors of the Company.	Special
5.	Ratification of remuneration of Cost Auditor	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 by the Chairman.

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 11:36 a.m. and concluded at 11:57 a.m. with a vote of thanks by the Chairman.

Thanking you,

Yours faithfully,

For Ashima Limited

Digitally signed by JAYESH JAYESH CHAMPAKLAL BHAYANI CHAMPAKL Date: 2024.08.17 17:43:11 +05'30' AL BHAYANI Adobe Acrobat version: 11.0.23

Jayesh C. Bhayani

Chief Financial Officer

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