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Avanti Feeds ltd. AGM Information 2020
62448_rns_2020-08-29_78eb7256-47c6-4a78-9118-06264232aee3.pdf
AGM Information
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Aiding Sustainability & Reliability to Aquaculture
Ref: AFL/BSE & NSE/2020-21/
The Deputy General Manager BSE Limited 1st Floor, New Trading Ring Rotunda Building, P.J. Towers Dalal Street, Mumbai - 400 001
BSE Code: 512573
29th August, 2020
The Manager (Listing Compliance) National Stock Exchange India Ltd. Exchange Plaza Bandra (East) Mumbai - 400 051.
NSE Code: AVANTIFEED
Dear Sir.
- Sub: Avanti Feeds Limited Proceedings of 27th Annual General Meeting (AGM) held on 29.08.2020 - Reg.
- Ref: Our letter No: AFL/BSE & NSE/2020-21, dated 04th August, 2020.
Kindly refer to our letter dated August 4, 2020, intimating that the 27th Annual General Meeting of the members of the Company would be held through Video Conference (VC) / Other Audio Visual Means (OAVM) on August 29, 2020.
We are to inform that the 27th Annual General Meeting of the Company, was held on Saturday, August, 29, 2020, through VC/OAVM in compliance with Circulars issued by Ministry of Corporate Affairs and other applicable provisions of the Companies Act, 2013 and circulars issued by the Securities and Exchange Board of India.
In pursuance of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith Summary of proceedings of 27th AGM of the Company as Annexure-1.
We request you to take above information on your record.
Thanking you,
Yours faithfully. for Avanti Feeds Limited
ameChande
C. Ramachandra Rao Joint Managing Director, Company Secretary & CFO
Encl: As above.
Corporate Office: G-2, Concorde Apartments, 6-3-658, Somajiguda, Hyderabad-500082, Telangana State, India. € +91 (40) 23310260 /61 4 +91 (40) 23311604 @ www.avantifeeds.com
Registered Office: Flat No.103, Ground Floor, R Square, Pandurangapuram, Visakhapatnam - 530003, Andhra Pradesh, India. CIN: L16001AP1993PLC095778
Summary of Proceedings of 27 1hAnnual General Meeting held on 29th August. 2020
The 27th Annual General Meeting (AGM) of the Shareholders of Avanti Feeds Limited was convened at 11.00 AM. on Saturday, the 29th August 2020 through Video Conferencing (VC)/ Other Audio Visual Means (OAVM) in compliance with Circulars issued by Ministry of Corporate Affairs and other applicable provisions of the Companies Act, 2013 and circulars issued by the Securities and Exchange Board of India.
Sri K Rajasekhar, Manager from the Registered Office welcomed all the shareholders and handed over the proceedings to Sri C. Ramachandra Rao, Joint Managing Director (JMD), Company Secretary (CS) and Chief Financial Officer (CFO) of the Company to continue the proceedings.
Sri C. Ramachandra Rao, JMD, welcomed the Shareholders and announced that quorum is present. Then he explained the procedure for participation in the AGM, instructions for Shareholders, and announced that the Chat Box option has been enabled to the shareholders for posting their queries during the AGM. Thereafter, he introduced the directors, participating in the meeting from the Corporate Office and through Video Conference (VC)/ Other Audio Visual Means (OAVM). He informed that the Statutory Auditors and Secretarial Auditors were present online.
He also informed that in view of the Pandemic COVID-19 this AGM of the Company is being conducted through VC/OAVM pursuant to the guidelines of the Ministry of Corporate Affairs and Securities Exchange Board of India. The live streaming of the AGM for Shareholders, was also webcasted by the KFin Technologies Pvt. Ltd. (KFinTech). The Company had taken requisite steps to allow Shareholders to cast their vote on the business to be transacted at the AGM and handed over to Sri A Indra Kumar, Chairman & Managing Director for further proceedings.
Sri A. Indra Kumar, Chairman & Managing Director of the Company chaired the meeting and continued the proceedings informing that Notice of AGM along with Annual Report has already been sent to all the shareholders and registers as required under Companies Act, are open for inspection. The Notice of the Meeting was taken as read with the permission of the Shareholders.
The Chairman, in his speech gave an overview of the economic scenario, impact of COVID-19, steps taken by the Company to ensure safety and health of the employees, assistance provided to the community as part of CSR initiatives, and the financial performance of the Company for the year ended March 31, 2020 and future plans. He then handed over the proceedings to Sri C Ramachandra Rao, JMD.
Corporate OHice: G-2, Concorde Apartments, 6-3-658, Somajiguda, Hyderabad-500082, Telangana State, India. � +91 l4oJ 23310260 /61 a +91 l4DJ 23311604 ;@ www.avantifeeds.com ';D avantihofaavantifeeds.com
Registered Office: Flat No.103, Ground Floor, R Square, Pandurangapuram, Visakhapatnam - 530003, Andhra Pradesh, India. 1 CIN: L 16001AP1993PLC09577B
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Sri C Ramachandra Rao, informed that the facility provided by the Company and e-voting was commenced on 25.08.2020 at 9.00 PM (IST) and completed on 28.08.2020 at 5.00 PM (IST) and handed over the proceedings to Sri A Indra Kumar, Chairman & Managing Director.
The Chairman requested the Shareholders to ask questions or seek clarifications on the agenda items. The queries raised by the Shareholders were replied. He handed over the proceedings to Sri C Ramachandra Rao, JMD to conduct the e-voting procedure at the AGM.
Sri C. Ramachandra Rao, JMD informed the Shareholders that the following are the Ordinary Business to be transacted at this meeting:
Item No.1 - Ordinary Resolution:
To receive, consider and adopt:
- a. the Audited Financial Statements of the Company for the year ended 31st March, 2020, the Board's Report and the Report of the Auditors thereon.
- b. the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March,2020 and the Report of the Auditors thereon.
Item No.2 - Ordinary Resolution:
To confirm the payment of Interim Dividend of Rs.5/- (Rupees Five only) per equity share of Re. 1/- each fully paid and declare Final Dividend of Rs.0.10 Ps (Ten paise only) per equity share of Re.1/- each fully paid, for the Financial Year 2019-20.
Item No.3 - Ordinary Resolution:
To appoint a Director in place of Mr. Bunluesak Sorajjakit, (DIN:02822828) who retires by rotation and, being eligible, offers himself for re-appointment.
Item No.4 - Ordinary Resolution:
To appoint a Director in place of Sri N. Ram Prasad (DIN: 00145558), who retires by rotation and being eligible, offers himself for re-appointment.
The Shareholders were further informed that the Company had provided the Shareholders the facility to cast their vote electronically (remote e-voting) on all resolutions set forth in the Notice. Shareholders who were present at the AGM and had not cast their votes electronically through remote e-voting were provided an opportunity to cast their votes through a-voting during the meeting and also the e-voting facility shall be open for 15 Minutes after the conclusion of AGM.
It was informed to the shareholders that Sri V. Bhaskara Rao, Practicing Company Secretary has been appointed as the Scrutinizer who would report on the combined voting results of evoting and voting at the AGM.
Further, he informed that combined results of thee-voting and voting at the AGM would be declared on or before 3181 August, 2020 and that the results would be placed on the website of the Company and informed to Bombay Stock Exchange and National Stock Exchange.
The JMD concluded the AGM by proposing vote of thanks to the shareholders for participating in the AGM through VC/OAVM and making it a success.
The meeting concluded at 12.20 P.M. on 29th August, 2020.
The Scrutinizers Report was received on 29th August, 2020 and as set out there in all the aforesaid four (4) Resolutions was declared passed with requisite majority.
This is for your information and record.
For Avanti Feeds Limited
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JOINT MANAGING DIRECTOR, COMPANY SECRETARY & CFO
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