Bedmutha Industries Limited — AGM Information 2018

Sep 25, 2018

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Date: 25/09/2018

To To Department of Corporate Services, Listing Department, BSE Ltd National Stock Exchange of India Limited Phiroj Jeejibhoy Towers, Dalal Street, C-1, G-Block, Bandra-Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 0051

Scrip Code: 533270, Scrip Symbol: BEDMUTHA

Dear Sir / Madam,

Sub: Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Please be informed that at the 28[th] Annual General Meeting of the Company held today i.e. on Tuesday, the 25[th] day of September, 2018 at 12:00 Noon at Hotel Saiways, F-4, Sinnar- Shirdi Road, STICE, Sinnar, Nashik- 422 103, the members of the Company inter alia considered the following:

ORDINARY BUSINESS:

1. Adoption of Audited Standalone & Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2018.

2. Appointment of Director in place of Mr. Vijay Vedmutha (DIN: 00716056), who retires by rotation and being eligible offers himself for re-appointment.

3. Ratification of the appointment of the Statutory Auditors of the Company and to fix their remuneration in this regard.

SPECIAL BUSINESS:

1. Ratification of the remuneration to be paid to the Cost Auditors for the Financial Year ending 31[st] March, 2019:

2. Re-appointment of Mr. Vijay K. Vedmutha (DIN: 00716056) as Managing Director of the Company.

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1. Re-appointment of Mr. Ajay K. Vedmutha (DIN: 01726879) as Managing Director of the Company.

2. Approval of Related Party Transaction under Section 188 of the Companies Act, 2013.

3. Modification of the Related Party Transaction(s) under Section 188 of the Companies Act, 2013.

4. Authority for sale of non-core assets of the Company.

5. Holding office or place of profit under Section 188 of the Companies Act, 2013.

The Voting results of the 28[th] Annual General Meeting of the Company along with the Scrutinizer’s Report thereon will be shared shortly .

The Summary of Proceedings of the 28[th] Annual General Meeting of the Company is attached.

We request you to kindly take the above information on record.

Thanking You

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Place: Sinnar Date: 25[th] September, 2018

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Summary of Proceedings of 28[th] Annual General Meeting of the Company

1. Date, time and venue of the Meeting:

The 28[th] Annual General Meeting of the Company was held on Tuesday, the 25[th] day of September, 2018 at 12:00 Noon at Hotel Saiways, F-4, Sinnar- Shirdi Road, STICE, Sinnar, Nashik- 422 103.

2. Proceedings in brief:

• Mr. Vijay Vedmutha, Chairman and Managing Director of the Company, took the Chair.

• The Chairman welcomed the Members, Directors, Auditors, and other stakeholders present at the 28[th] Annual General Meeting of the Company.

• All the Directors were present at the meeting except Mrs.Vandana Sonwaney, Independent Director of the Company.

• Mr. Anil D. Kulkarni, Proprietor of M/s A. D. Kulkarni & Co., Statutory Auditors and Mr. Ved Prakash, Designated Partner of Mr. S. Anantha & Ved LLP, Company Secretaries, Secretarial Auditors of the Company were present at the meeting.

• He confirmed that the Chairman of the Audit Committee, Nomination and Remuneration Committee and the Stakeholders Relationship Committee were present at the meeting, to respond to the shareholders’ query if any.

• The Company Secretary informed the members that the requisite quorum was present at the meeting.

• The Company Secretary further informed the members that the Register of Members, Register of Directors’ shareholding, were kept open for inspection by the shareholders at the meeting venue and the same were accessible throughout the continuance of the meeting.

• The requisite Quorum being present, the Chairman called the Meeting to order.

• The Chairman addressed the shareholders and delivered his speech.

• The Chairman requested Mr. Ajay Vedmutha, Managing Director of the Company to give the presentation and brief the shareholders about the future prospects of the Company.

• The Company Secretary informed the members that the Company had provided remote e- voting facility to the shareholders of the Company in respect of all businesses mentioned

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in the notice. The remote e-voting facility was kept open from Saturday, September 22, 2018, 9:00 AM to Monday, September 24, 2018, 5:00 PM. During this period, shareholders of the Company holding shares as on the Cut-Off Date i.e., Tuesday, September 18, 2018 were able to cast their votes electronically. The facility for voting, had also been made available at the venue of this meeting. The members attending the AGM, who had not cast their vote through remote e-voting could exercise their voting rights at the AGM. Mr. Ved Prakash, Designated Partner of M/s. S. Anantha & Ved LLP, Practicing Company Secretaries had been appointed as the scrutinizer for conducting the voting process in a fair and transparent manner.

• The notice of AGM, Board’s Report and Auditor’s Report, containing therein the observations made by the Auditors on the financial statements and the explanation/ comments given by the Board of Directors thereon were taken as read by the shareholders of the Company.

• The following items of business as set out in the Notice convening 28[th] AGM were placed for members’ consideration and approval.

ORDINARY BUSINESS:

1. Adoption of Audited Standalone & Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2018.

2. Appointment of Director in place of Mr. Vijay Vedmutha (DIN: 00716056), who retires by rotation and being eligible offers himself for re-appointment.

3. Ratification of the appointment of the Statutory Auditors of the Company and to fix their remuneration in this regard.

SPECIAL BUSINESS:

1. Ratification of the remuneration to be paid to the Cost Auditors for the Financial Year ending 31[st] March, 2019:

2. Re-appointment of Mr. Vijay K. Vedmutha (DIN: 00716056) as Managing Director of the Company.

3. Re-appointment of Mr. Ajay K. Vedmutha (DIN: 01726879) as Managing Director of the Company.

4. Approval of Related Party Transaction under Section 188 of the Companies Act, 2013.

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1. Modification of the Related Party Transaction(s) under Section 188 of the Companies Act, 2013.

2. Authority for sale of non-core assets of the Company.

3. Holding office or place of profit under Section 188 of the Companies Act, 2013.

4. No query was raised by the members at the meeting.

5. The Chairman requested the Members present at the meeting who had not cast their votes electronically to cast their votes through Ballot papers handed over to them. The members accordingly cast their votes through Ballot Papers.

6. The members were informed that the results of e-voting and Ballot shall be disseminated to the Stock Exchanges on or before 27[th] September, 2018, after receipt of Scrutinizer Report and will also be uploaded on the website of the Company www.bedmutha.com and website of CDSL www.evoting.com.

7. The Chairman presented the Vote of Thanks to everyone present at the meeting and the meeting concluded at 1.00 P.M.

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Place: Sinnar Date: 25[th] September, 2018