Bharat Forge Ltd — AGM Information 2020

Sep 24, 2020

September 24, 2020

BHARAT FORGE

To,

BSE Limited, 1st Floor, New Trading Ring, Rotunda Building, P.J. Towers, Dalal Street, Fort, Mumbai - 400 001 BSE SCRIP CODE - 500493

National Stock Exchange of India Ltd., 'Exchange Plaza', Bandra-Kurla Complex, Bandra (East) Mumbai- 400 051 Symbol: BHARATFORG Series: EQ

Dear Sirs,

Sub: Proceedings of 59[th ] Annual General Meeting of the Company held on Wednesday, September 23, 2020 pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 30, Part A of Schedule - Ill of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith brief proceedings of the 59[th ] Annual General Meeting (AGM) of the Company held on Wednesday, September 23, 2020 through Video Conferencing ["VC"]/Other Audio Visual Means ["OAVM"].

This is for your information and records.

Thanking you,

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Company Secretary ACS No. 18907

Encl: As above

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KALYANI GROUP COMPANY

BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA. PHONE : +91 20 6704 2777 FAX : +91 20 2682 0699 (Export). 2682 2387 (Sales/Mktg) 2682 2163 (Materials) Website : www.bharatforge.com CIN'No. l25209PN 1961 PLC012046

BHARAT FORGE

Summary of proceedings of the 59[th ] Annual General Meeting

The 59[th ] Annual General Meeting (AGM) of the Members of Bharat Forge Limited ('the Company') was held on Wednesday, September 23, 2020 commenced at 11:00 A.M. {I.S.T.) through Video Conferencing ["VC"]/Other Audio Visual Means ["OAVM"].

Ms. Tejaswini Chaudhari, Company Secretary of the Company welcomed the shareholders and briefed on certain points regarding the participation in the meeting through VC. It was informed that there was no proxy facility available for this meeting, as it was dispensed by Ministry of Corporate Affairs ("MCA") while other statutory registers were available for inspection electronically.

After that Mr. B. N. Kalyani, Chairman and Managing Director of the Company, chaired the Meeting. The Chairman informed the Members that in view of the continuing COVID-19 pandemic, and to ensure social distancing norms, the Annual General Meeting of the Company was convened through Video Conferencing or Other Audio-Visual Means, in accordance with various circulars issued by MCA in this regard and in compliance with the applicable provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The requisite quorum being present, the Chairman called the Meeting to order. All the directors present in the meeting introduced themselves and informed the location from where they are attending the meeting.

The Chairman thereafter informed that the representatives of Statutory Auditors, Secretarial Auditors and Cost Auditors of the Company were also present through VC.

With the consent of the Members, the Notice convening the 59th AGM was taken as read. The Chairman informed the members that there being no qualifications, observations and comments on financial transactions or matters in the Auditors Report, the same was taken as read with their consent.

The Chairman commenced his speech and summarized the business operations and financial performance of the Company. Additionally he spoke in brief about the different segments of business, preparedness of the Company for the future opportunities and shed light on the measures taken in light of the present COVID-19 conditions.

The Chairman further informed the shareholders that pursuant to Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company had provided Members the facility to cast their vote electronically in respect of all businesses set forth in the Notice. The remote e-voting facility was kept open for the period of 3 (three) days i.e. between Sunday, September 20, 2020 (9:00 A.M.[) ] to Tuesday, September 22, 2020 (5:00 P.M.}.

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KALYANI

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PHONE

BHARAT FORGE

Members who were present in the AGM through VC/OAVM facility and had not cast their vote through remote e-voting were provided an opportunity to cast their votes electronically during the AGM through the NSDL platform.

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Resolution
Agenda Item
Type
To consider and adopt:
a. the Audited Standalone Financial Statements of the
Company for the Financial Year ended March 31,
2020 and the reports of the Board of Directors and Ordinary
1
, , l.11rlitnrc thoronn· :::,nrl __ , ... , . ... , , . . , ., . . _ Resolution
b. the Audited Consolidated Financial Statements of
the Company for the Financial Year ended March
31, 2020 and the report of Auditors thereon.
To confirm the interim dividends paid during the Ordinary
2
Financial Year 2019-20. Resolution
To appoint a Director in the place of Mr. G. K. Agarwal
Ordinary
3 [DIN: 00037678]; who retires by rotation and being
Resolution
eligible, offers himself for re-appointment.
To appoint a Director in the place of Mr. S. E. Tandale
Ordinary
4 [DIN: 00266833], who retires by rotation and being
Resolution
eligible, offers himself for re-appointment.
Re-appointment of Mr. K. M. Saletore [DIN: 01705850], Ordinary
5
as an Executive Director of the Company Resolution
Ordinary
6 Ratification of remuneration of the Cost Auditors
Resolution
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The Chairman then invited members to ask their queries. The Chairman responded satisfactorily to the queries/suggestions raised by the members.

Post the Q&A session, the Chairman informed the members that the e-Voting facility was kept open for the next 15 minutes to enable the Members to cast their vote. The Board of Directors has appointed Mr. S.V. Deulkar failing him Mr. Sridhar Mudaliar, Partners of M/s. SVD &

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KALYANI
GROUP COMPANY
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BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA. PHONE +91 20 6704 2777 FAX: +91 20 2682 0699 (Export), 2682 2387 (S0les/Mk1g) 2682 2163 (Maleria s Websile : www.bharalforge.com CIN'No. L25209PN1961 PLC012046

BHARAT FORGE

Associates, Company Secretaries, Pune, as the Scrutinizer to scrutinize the e-voting and remote e-voting process in a fair and transparent manner. The Chairman authorized the Company Secretary to declare the results of the voting and place the results on the website of the Company at the earliest. The Chairman also informed that the results of voting will be declared on ieceipt of Scwtinizei's Repoit vvithin 48 houis of conclusion of AG�v1.

To mark the closure of the meeting the Chairman thanked all the members for their active participation and co-operation.

The AGM concluded at 12:15 PM (1ST) (including the time allowed for e-voting at the AGM).

This is for your information and records.

Yours Faithfully,

Company Secretary ACS No. 18907

September 24, 2020

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KALYANI GROUP COMPANY

BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA. PHONE: +91 20 6704 2777 FAX: +91 20 2682 0699 (Export), 2682 2387 (Sales/Mktg) 2682 2163 (Materials) Website : www.bharatforge.com CIN'No. l25209PN 1961 PLC012046