Cravatex Ltd. — AGM Information 2022

Aug 31, 2022

Registered Office : Ground Floor (East Wing), Forbes Building, Charanjit Rai Marg, Fort, Mumbai – 400 001 CIN L93010MH1951PLC008546 Telephone No. : +91 22 6666 7474 Email : info@cravatex.com Website : http://cravatex.com/

August 31, 2022

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

Company Code : 509472

Dear Sirs,

Sub: Summary of Proceedings of 70[th] Annual General Meeting (AGM)

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

In terms of Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, we wish to inform you that the 70[th] Annual General Meeting (AGM) of the Members of Cravatex Limited (the Company) was held on Tuesday, August 30, 2022 at 3.30 p.m. through Video Conferencing (“VC”)/ Other Audio Visual Means (“OAVM”) of National Securities Depositories Limited (NSDL) in compliance with the Ministry of Corporate Affairs (MCA) Circular dated May 5, 2020 read with April 8, 2020, April 13, 2020, January 13, 2021 and May 5, 2022 and Securities and Exchange Board of India (SEBI) Circulars dated May 12, 2020, January 15, 2021 and 13[th] May, 2022 and other applicable provisions.

Mr. Rajesh Batra, Chairman of the Company, chaired the Meeting. He welcomed the Members and informed that live streaming of the Meeting was being broadcasted on NSDL website. He also informed that all the Board Members, Statutory Auditors & Secretarial Auditors were present for the AGM and welcomed them. He ascertained the presence of requisite quorum and called the Meeting to order.

The Chairman further informed that the Company has taken requisite steps to enable members to participate and vote electronically on the items specified in the Notice of the AGM. He also informed that the documents required to be kept for inspection during the AGM were available for the inspection of Members on the website of the Company and that the Notice of the AGM and Annual Report for the Financial Year 2021-22 were sent by e-mail to the Members whose e-mail addresses are registered with the Company or the Depository Participant(s).

The Chairman further informed that the Notice of the AGM, Report of Board of Directors and the Financial Statements (Standalone and Consolidated) for the financial year 2021-22 were taken as read as the same had already been circulated to the Members. As there were no qualifications in the statutory auditors report and secretarial auditor report for the Financial Year 2021-22 and the same is taken as read.

Registered Office : Ground Floor (East Wing), Forbes Building, Charanjit Rai Marg, Fort, Mumbai – 400 001 CIN L93010MH1951PLC008546

Telephone No. : +91 22 6666 7474 Email : info@cravatex.com Website : http://cravatex.com/

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The Chairman informed that the questions submitted in advance were replied to and any more further questions that the Members may have in the AGM would be replied in the next four working days by the CFO/Company Secretary of the Company.

The Chairman then delivered his speech and thereafter, the Members who had registered themselves as speakers were invited to express their views.

The Chairman thanked the Directors and Members for participating in the Meeting and wished everyone the best of health and safety in the year ahead.

The Chairman authorised Mr. Sudhanshu Namdeo, Company Secretary, to conduct e-voting and conclude the Meeting. Mr. Sudhanshu Namdeo, Company Secretary, took over the proceedings and stated e-voting to be conducted on the following items of business as set out in the Notice of the AGM:

Sr. No.

Particulars

Ordinary Business :

1. To consider and adopt (a) the Audited Financial Statements of the Company for the financial year ended March 31, 2022 including Audited Balance Sheet as at March 31, 2022 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) the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2022 including Audited Balance Sheet as at March 31, 2022 and the Statement of Profit and Loss, Cash Flow Statement for the year ended on that date together with Reports of the Auditors thereon (Ordinary Resolution).

2. To declare a final dividend on 4% Non-convertible Cumulative Redeemable Preference Shares for the financial year 2021-22 (Ordinary Resolution).

3. To declare a final dividend on the Equity Shares for the financial year 2021-22 (Ordinary Resolution).

4. To appoint a Director in place of Mr. Rajesh Batra (DIN 00020764) who retires by rotation and, being eligible, offers himself for re-appointment (Ordinary Resolution).

5. To consider the appointment of M/s. GPS & Associates, Chartered Accountants as Statutory Auditors of the Company to hold office for second term from the conclusion of 70th AGM till the conclusion of the 75th AGM of the Company (Ordinary Resolution).

6. To consider the re-appointment of Mr. Rajesh Batra as the Managing Director of the Company for a period of 3 years with effect from June 1, 2022 and payment of remuneration upto Rs.54 lakhs per annum (Ordinary Resolution).

 The remote e-voting facility was provided by the Company between Saturday, August 27, 2022 (9:00 A.M. IST) to Monday, August 29, 2022 (5:00 P.M. IST).

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Registered Office : Ground Floor (East Wing), Forbes Building, Charanjit Rai Marg, Fort, Mumbai – 400 001 CIN L93010MH1951PLC008546

Telephone No. : +91 22 6666 7474 Email : info@cravatex.com Website : http://cravatex.com/

• E-voting would be allowed to all those Members present at the AGM who have not cast their votes through remote e-voting. The Members may click on e-voting tab to cast their votes. The e-voting will be open for 15 minutes.

• The Company has appointed Ms. Hemanshu Kapadia & Associates, Practicing Company Secretaries, Mumbai as the Scrutinizer to scrutinize the e-voting process in a fair and transparent manner.

• Results of the e-voting will be announced within two working days and the same would be intimated to the Stock Exchange and uploaded on the website of the Company and NSDL.

The Company Secretary thereafter thanked all the Members who had participated in the meeting and co-operated with the Company in ensuring the smooth conduct of the AGM and thereafter evoting was kept open for 15 minutes and the AGM concluded at 4.17 p.m.

Thanking You, For Cravatex Limited,

Digitally signed by SUDHANSHU NAMDEO DN: c=IN, o=Personal,

SUDHANSH 2.5.4.20=925a3182dfaeb944aef04c218275696ed8797edcd95692041189f0d7dbd75b a8, postalCode=410218, st=Maharashtra, serialNumber=ed5747e3e6b898fec2d2218 U NAMDEO 61890d0b5acbfee35124932f1bd649a2993918105, cn=SUDHANSHU NAMDEO Date: 2022.08.31 12:18:48 +05'30'

Sudhanshu Namdeo

Company Secretary Membership No.A17132