Cravatex Ltd. — AGM Information 2019

Aug 14, 2019

Corporate Off Matulya Centre. 2nd Floor. Senapati Bapat Marg. Lower Parel (W). Mumbai - 400 013 GIN L93010MH1951PLC008546 T +91 22 6666 7474 F +91 22 2497 3210 E 1nfo@cravatex com W www cravalex com

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August 14, 2019

BSE Limited Department of Corporate Services (DCS-Listing) Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001

Company Code : 509472

Dear Sir,

Sub: Proceedings of 67'" Annual General Meeting (AGM)

Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

We wish to inform that the 67'" Annual General Meeting of the Company was held on Wednesday, August 14, 2019 at Textiles Committee Auditorium, P. Balu Road, Prabhadevi Chowk, Prabhadevi, Mumbai - 400 025 at 10:30 a.m.

22 Members were present in person and no Member was present through proxy as no proxy was received.

As the required quorum was present, Mr. Rajesh Batra, Chairman for the meeting, called the meeting to order and welcomed the Members to the AGM.

With permission of the Members, the notice convening the meeting was taken as read.

The Chairman then delivered his speech to the Members.

The Chairman then laid a) Standalone Financial Statement for the financial year 2018-19; b) Consolidated Financial Statement for the financial year 2018-19; c) Auditors' Report; and d) Secretarial Audit Report ("the said documents") before the meeting and informed the members that the said documents along with certain statutory registers were available for inspection during the meeting.

The Chairman then informed the members that the Statutory Auditors' Report did not contain any qualification or adverse remarks. The Secretarial Audit Report of the Company for the financial year 2018-19 contained two observations on page no. 20 of the Annual Report and the observation was adequately addressed in the Directors' Report on page number 15 of the Annual Report.

The Chairman thereafter invited the members to offer their views on resolutions before the meeting and also to ask any question that they may have. The members thereafter asked questions on businesses as well as accounts/operations of the Company before the meeting.

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Corporate Off Matulya Centre. 2nd Floor. Senapan Bapat Marg, Lower Pare! (W), Mumbai - 400 013 CIN L93010MH1951PLC008546 T +91226666 7474 F +91222497 3210 E info@cravatex com W www cravatex com

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The Chairman thereafter informed the members that the Company provided remote e­ voting facility for all four resolutions placed before the meeting and also informed that the members who have already cast their vote through remote e-voting were not eligible to vote at the meeting. He then requested the members who had not cast their vote through remote e-voting to cast their vote through ballot paper distributed to them.

He also informed the members that the Board of Directors had appointed Mr. Hemanshu Kapadia, Proprietor of Mis. Hemanshu Kapadia & Associates, Practicing Company Secretaries, Mumbai, as Scrutinizer, to scrutinize the votes cast through remote e-voting and ballot paper at the meeting in a fair and transparent manner.

The Chairman informed that the members present at the meeting had voted through ballot paper to the following resolutions :

• 1) Consider and adopt the (a) audited Financial Statements of the Company for the financial year ended March 31 , 2019 including audited Balance Sheet as at March 31, 2019 and the Statement of Profit and Loss, Cash Flow Statement for the year ended on that date together with Reports of the Directors and Auditors thereon; and (b) audited Consolidated Financial Statements of the Company for the financial year ended March 31 , 2019 together with Reports of the Auditors thereon.

• 2) Declaration of dividend of Rs.0.40 (4%) per share of Rs.10/- each on Non­ convertible Cumulative Redeemable Preference Shares for the financial year ended March 31 , 2019.

• 3) Declaration of dividend of Rs.2.00 (20%) per share of Rs. 10/- each on the Equity Shares for the financial year ended March 31 , 2019.

• 4) Re-appointment of Mr. Rajiv Batra (DIN 00748729) as a Director, liable to retire by rotation.

The Members were informed that the result of the voting along with remote e-voting will be declared within 48 hours of conclusion of the AGM by placing the same on Notice Board and Website of the Company.

The Meeting was concluded at 11.20 a.m. with a vote of thanks to the Chairman.

Please note that the results of the voting will be separately informed to the Stock Exchange.

Sudhanshu Nam Company Secretary'<::::=?'

Registered Office: Sahas 4th floor 414 I 2 Veer Savarkar Marg. Prabhadev, Mumbai - 400 025