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Dollar Industries Limited — Proxy Solicitation & Information Statement 2023
Mar 2, 2023
61028_rns_2023-03-02_a71e89d8-f805-4c83-bb2b-9fd64476f2fd.pdf
Proxy Solicitation & Information Statement
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Date: 02nd March 2023
| The Secretary NSE Limited Exchange Plaza, C-1, Block ‘G’ Bandra- Kurla Complex, Bandra (E) Mumbai– 400 051 Symbol- DOLLAR |
The Secretary BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai– 400 001 Scrip Code :541403 |
|---|---|
Dear Sir / Ma’am,
Sub: Notice of Postal Ballot and E-voting
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith a copy of the Postal Ballot Notice dated 14th February 2023.
The aforesaid Postal Ballot Notice is being sent electronically to the members whose name appear in the Register of Members/ List of Beneficial Owners as on the cut-off date being Friday, 24th February 2023, on their registered e-mail address.
The Company has engaged Central Depository Services (India) Limited (‘CDSL’) to offer e-voting facility to all its members to enable them to cast their votes electronically.
The e-voting period will commence on Monday, 06th March 2023 at 9:00 am (IST) and will end on Tuesday, 04th April 2023 at 5:00 pm (IST).
The Postal Ballot Notice will also be available on the Company’s website at https://www.dollarglobal.in/news-highlight and CDSL’s website at www.cdslindia.com.
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This may please be taken on record and kindly inform to all the members of your Stock Exchanges.
Thanking You.
Yours Sincerely, For Dollar Industries Limited
Digitally signed by Mamta Jain Date: 2023.03.02 10:24:30 +05'30'
Mamt
a Jain 2023.03.02 10:24:30 +05'30' Mamta Jain Company Secretary and Compliance Officer
Encl: As above
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POSTAL BALLOT NOTICE
[Pursuant to Section 110 of the Companies Act, 2013, read with the Rule 22 of the Companies (Management and Administration Rules, 2014)]
To
All Members,
DOLLAR INDUSTRIES LIMITED
NOTICE is hereby given that pursuant to the provisions of Section 108, Section 110 and other applicable provisions, if any, of the Companies Act, 2013 (the “Act”) read with Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014 (the “Rules”), including any statutory amendment(s), modification(s), variation(s) or re-enactment(s) thereto, for the time being in force and in accordance with the guidelines prescribed by the Ministry of Corporate Affairs (the “MCA”) for holding general meetings / conducting postal ballot through e-voting vide General Circular Nos. 14/2020 dated 8[th] April 2020; 17/2020 dated 13[th] April 2020; 22/2020 dated 15[th] June 2020; 33/2020 dated 28[th] September 2020 and 39/2020 dated 31[st] December, 2020 General Circular No. 10/2021 dated 23[rd] June 2021, General Circular No. 20/2021 dated 8[th] December 2021 and General Circular No. 3/2022 dated 5[th] May 2022 and and Circular No. 10/2022 dated 28[th] December, 2022 (the “Relevant Circulars”), the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”), Secretarial Standard- 2 on General Meetings (“SS-2”) issued by the Institute of Company Secretaries of India and other applicable laws and regulations, if any, including any statutory amendment(s), modification(s), variation(s) or re-enactment(s) thereto, for the time being in force to transact the below mentioned proposed special business by the members of the Dollar Industries Limited (“the Company”) by passing resolutions through Postal Ballot (“Postal Ballot”) only through remote e-voting.
In view of the current extraordinary circumstances due to COVID-19 pandemic requiring social distancing, Ministry of Corporate Affairs, Government of India (the “MCA”) in terms of the MCA Circulars, has advised the companies to take all decisions requiring members approval, other than items of ordinary business or business where any person has a right to be heard, through the mechanism of postal ballot / e-voting in accordance with the provisions of the Act and Rules made thereunder, without holding a general meeting that requires physical presence of members at a common venue. MCA has clarified that for companies that are required to provide e-voting facility under the Act, while they are transacting any business(es) only by postal ballot up to September 30, 2023, the requirements
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provided in Rule 20 of the Rules as well as the framework provided in the MCA Circulars will be applicable mutatis mutandis. Further, the Company will send Postal Ballot Notice by email to all its members who have registered their email addresses with the Company or depository / depository participants and the communication of assent / dissent of the members will only take place through the remote e-voting system. This Postal Ballot is accordingly being initiated in compliance with the MCA Circulars.
Hence, in compliance with the requirements of the MCA Circulars, hard copy of Postal Ballot Notice along with Postal Ballot Forms and pre-paid business reply envelope will not be sent to the members for this Postal Ballot and members are required to communicate their assent or dissent through the remote e-voting system only.
The Board of Directors of the Company proposes to obtain the consent of the members by way of Postal Ballot for the matters as considered in the resolution appended below. The Explanatory Statement pursuant to Section 102 of the Act pertaining to the said Resolution setting out material facts and the reasons for the Resolution is also annexed.
You are requested to peruse the proposed Resolution along with their respective Explanatory Statement and thereafter record your assent or dissent by means of remote e-voting facility provided by the Company.
SPECIAL BUSINESS:
1. Appointment of Mr. Sandip Kumar Kejriwal (DIN: 00004333) as an Independent Director of the Company
To consider, and, if thought fit, to pass, with or without modification(s), the following resolution as a Special Resolution:
“RESOLVED THAT pursuant to the provisions of Sections 149, 150 read with Schedule IV and any other applicable provisions, if any, of the Companies Act, 2013 (hereinafter referred as “the Act”) and the Companies (Appointment and Qualification of Directors) Rules, 2014 and the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred as “SEBI Listing Regulations”) (including any statutory modification(s) or re-enactment thereof for the time being in force), Mr. Sandip Kumar Kejriwal (DIN:00004333)
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be and is hereby appointed as an Independent Director of the Company to hold office for 5 (Five) consecutive years w.e.f. 14th February 2023 upto 13th February, 2028.
FURTHER RESOLVED THAT the Board of Directors be and is hereby authorized to do all such acts and things as may be necessary and expedient to give effect to the above resolution, on behalf of the Company.”
Notes:
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The Explanatory statement pursuant to Sections 102 and 110 of the Act read with Regulation 36 of Listing Regulations and Secretarial Standard- 2 on General Meetings (“SS-2”) stating all material facts and the reasons for the proposals set out in resolutions is annexed herewith and forms a part of the Notice.
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The Postal Ballot Notice is being sent to /published/displayed for all the Members, whose names appear in the Register of Members/ List of Beneficial Owners as received from Depositories i.e. National Securities Depository Limited (“NSDL”) / Central Depository Services (India) Limited (“CDSL”) as on Friday, 24th February 2023 (“Cut-off date”) in accordance with the provisions of the Companies Act, 2013, read with Rules made thereunder and Ministry of Corporate Affairs, Government of India’s General Circular No. 17/2020 dated 13th April 2020.
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In terms of Sections 108, 110 and other applicable provisions of the Companies Act, 2013, as amended, read together with the Companies (Management and Administration) Rules, 2014 and in compliance with Regulation 44 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as the ‘Listing Regulations’) as amended from time to time, the MCA Circulars and Secretarial Standard- 2 on General Meetings (“SS-2”), Company is pleased to offer remote e-voting facility to all the members of the Company. The Company has appointed Central Depository Services (India) Limited (hereinafter referred to as “CDSL”) for facilitating e-voting to enable the members to cast their votes electronically (hereinafter referred to as the “Remote e-voting”).
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The Postal Ballot Notice has been uploaded on the websites of the Company (www.dollarglobal.in), CDSL (www.cdslindia.com), Bombay Stock Exchange of India and (www.bseindia.com) National Stock Exchange of India Limited (www.nseindia.com), in compliance with the relevant circulars.
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Due to non-availability of postal and courier services, on account of threat posed by COVID19 pandemic situation, the Company is sending Postal Ballot Notice in electronic form only and express its inability to dispatch hard copy of Postal Ballot Notice along with Postal Ballot Form and pre-paid business reply envelope to the members for this Postal Ballot. To facilitate such members to receive this notice electronically and cast their vote electronically, the Company has made special arrangement for registration of email addresses in terms of the MCA Circulars. The process for registration of email address is as under:
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a) For voting in the resolution proposed in the Postal Ballot through remote e-voting, members who have not registered their email address may get their email address registered by sending an email to the Company’s Share Transfer Agent at [email protected]. Member(s) may also intimate the same to the Company by writing an email at [email protected].
The members shall provide the following information in the email–
Full name : No of shares held: Folio number (if shares held in physical) and PAN: Share certificate number (if shares held in physical) and PAN: DP ID & Client ID (if shares are held in demat):
Email id to be registered and Mobile no.:
- b) Post successful registration of the email, the member would get soft copy of the notice and the procedure for e-voting along with the User ID and Password to enable e-voting for this Postal Ballot. In case of any queries, member may write to [email protected] or [email protected].
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c) It is clarified that for permanent registration of email address, members are required to register their email addresses, in respect of electronic holdings with their concerned Depository Participants and in respect of physical holdings, with the Company’s Share Transfer Agent Niche Technologies Private Limited, by following due procedure.
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Resolutions, if passed by the Members through postal ballot are deemed to have been duly passed on the last date specified for the e-voting i.e. Tuesday, 4th April 2023in terms of Secretarial Standard- 2 on General Meetings (“SS-2”) issued by the Institute of Company Secretaries of India.
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A member cannot exercise his vote by proxy on Postal Ballot.
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As required by Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014 read with the MCA Circulars and the SEBI Listing Regulations, the details pertaining to this Postal Ballot will be published in one English national daily newspaper circulating throughout India (in English language) and one regional daily newspaper circulating in Kolkata.
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Voting rights will be reckoned on the paid-up value of shares registered in the name of the Members on Friday, 24th February 2023 (Cut-off date) . Only those Members whose names are recorded in the Register of Members of the Company or in the Register of Beneficial Owners maintained by the Depositories as on the Cut-off date will be entitled to cast their votes electronically.
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In compliance with Sections 108 and 110 of the Companies Act, 2013 and the Rules made thereunder, the Company has provided the facility to the Members to exercise their votes electronically and vote on all resolutions through the e-voting service facility arranged by CDSL. The instructions for electronic voting are given in this Notice. E-voting will commence on Monday, 06th March 2023 at 9:00 am (IST) and will end on Tuesday, 04th April 2023 at 5:00 pm (IST) . E-Voting shall not be allowed beyond the said time and date.
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The Board of Directors has appointed Mr. Santosh Kumar Tibrewalla, (Membership No. FCS. 3811, C.P No 3982) Practicing Company Secretary, as a Scrutinizer to scrutinize the postal ballot process in a fair and transparent manner.
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The Scrutinizer shall after the receipt of assent or dissent of the Members on or before Tuesday, 04th April 2023 , shall, after the completion of his Scrutiny, submit his report to the Managing Director of the Company or any other person authorised by him on Wednesday, 05th April 2023 . The result shall be announced by the Managing Director of the Company on Wednesday, 05th April 2023 at Company’s Registered Office and the resolution will be taken as passed effectively on the last date on which the company received duly completed postal ballot form as per Secretarial Standard- 2 on General Meetings (“SS-2”) issued by the Institute of Company Secretaries of India i.e. Tuesday, 04th April 2023 will be taken to be date of passing the resolution.
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The results of the postal ballot will be placed on the Company’s website at www.dollarglobal.in and CDSL at www.cdslindia.com immediately after the result is declared. The Company shall simultaneously forward the results to the Stock Exchanges where the shares of the Company are listed i.e. NSE & BSE in accordance with the provisions of SEBI Listing Regulations.
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The Resolution, if passed by the requisite majority through Postal Ballot, will be deemed to have been passed on the last date specified for remote e-voting i.e. Tuesday, 04th April 2023.
VOTING THROUGH ELECTRONIC MEANS
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I. The instructions for members for voting electronically are as under:
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a) The remote e-voting period commences on Monday, 06th March 2023 at 9:00 am (IST) and ends on Tuesday, 04th April 2023 at 5:00 pm (IST). During this period members of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off date i.e. on Friday, 24th February 2023 , may cast their vote by remote e-voting. The remote e-voting module shall be disabled by CDSL for voting thereafter. Once the vote on a resolution is cast by the member, the member shall not be allowed to change it subsequently.
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b) The Members should log on to the e-voting website www.evotingindia.com.
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c) Click on “Members” tab.
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d) Now Enter your User ID
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1) For CDSL: 16 digits beneficiary ID,
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2) For NSDL: 8 Character DP ID followed by 8 Digits Client ID,
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3) Members holding shares in Physical Form should enter Folio Number registered with the Company.
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e) Next enter the Image Verification as displayed and Click on Login.
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f) If you are holding shares in Demat form and had logged on to www.evotingindia.com and voted on an earlier voting of any company, then your existing password is to be used.
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g) If you are a first time user follow the steps given below:
| For Members holding shares in Demat Form and Physical Form | |
|---|---|
| PAN | Enter your 10-digit alpha-numeric *PAN issued by Income Tax Department (Applicable for both demat Members as well as physical Members) Members who have not updated their PAN with the Company/Depository Participant are requested to use the first two letters of their name and the 8 digits of the sequence number in the PAN Field. In case the sequence number is less than 8 digits enter the applicable number of 0’s before the number after the first two characters of the name in CAPITAL letters. Eg. If your name is Ramesh Kumar with sequence number 1 then enter RA00000001 in the PAN field. |
| Dividend Bank Details or Date of Birth (DOB) |
Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy format) as recorded in your demat account or in the company records in order to login. If both the details are not recorded with the depository or company, please enter the Member id / folio number in the Dividend Bank details field as mentioned in instruction(v) |
h) After entering these details appropriately, click on “SUBMIT” tab.
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i) Members holding shares in physical form will then directly reach the Company selection screen. However, Members holding shares in Demat form will now reach ‘Password Creation’ menu wherein they are required to mandatorily enter their login password in the new password field. Kindly note that this password is to be also used by the Demat holders for voting for resolutions of any other company on which they are eligible to vote, provided that company opts for e-voting through CDSL platform. It is strongly recommended not to share your password with any other person and take utmost care to keep your password confidential.
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j) For Members holding shares in physical form, the details can be used only for e-voting on the resolutions contained in this Notice.
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k) Click on the EVSN for the relevant “Dollar Industries Limited” on which you choose to vote.
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l) On the voting page, you will see “RESOLUTION DESCRIPTION” and against the same the option “YES/NO” for voting. Select the option YES or NO as desired. The option YES implies that you assent to the Resolution and option NO implies that you dissent to the Resolution.
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m) Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution details.
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n) After selecting the resolution, you have decided to vote on, click on “SUBMIT”. A confirmation box will be displayed. If you wish to confirm your vote, click on “OK”, else to change your vote, click on “CANCEL” and accordingly modify your vote.
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o) Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify your vote.
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p) You can also take a print of the votes cast by clicking on “Click here to print” option on the Voting page.
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q) If a Demat account holder has forgotten the login password, then Enter the User ID and the image verification code and click on Forgot Password & enter the details as prompted by the system.
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r) Note for Non–Individual Members and Custodians:
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Non-Individual Members (i.e. other than Individuals, HUF, NRI etc.) and Custodian are required to log on to www.evotingindia.com and register themselves as Corporates.
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A scanned copy of the Registration Form bearing the stamp and sign of the entity should be emailed to [email protected].
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After receiving the login details a Compliance User should be created using the admin login and password. The Compliance User would be able to link the account(s) for which they wish to vote on.
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The list of accounts linked in the login should be mailed to [email protected] and on approval of the accounts they would be able to cast their vote.
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A scanned copy of the Board Resolution and Power of Attorney (POA) which they have issued in favour of the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify the same.
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s) The Scrutinizer shall after the conclusion of voting, count the votes cast through remote e- voting in the presence of at least two witnesses not in the employment of the Company and shall submit his consolidated scrutinizer’s report of the total votes cast in favor or against, if any, to the Chairman or a person authorized by him in writing, who shall countersign the same and declare the result of the voting forthwith.
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t) The Results declared along with the report of the Scrutinizer shall be placed on the website of the Company www.dollarglobal. in and shall intimate the same to the BSE & NSE.
In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked Questions (“FAQs”) and e-voting manual available at www.evotingindia.com, under help section or write an email to [email protected] .
Registered Office: Om Tower, 15th Floor, By Order of the Board of Directors 32, J. L. Nehru Road, Kolkata- 700 071 sd/CIN: L1729WB1993PLC058969 Mamta Jain Company Secretary and Compliance Officer Date: 14th February 2023 Place: Kolkata
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EXPLANATORY STATEMENT PURSUANT TO SECTION 102(1) OF THE COMPANIES ACT, 2013:
Item No. 1 - Appointment of Mr. Sandip Kumar Kejriwal (DIN: 00004333) as an Independent Director of the Company.
The Board of Directors, on the recommendation of Nomination and Remuneration Committee in their respective meetings held on Tuesday 14th February 2023, appointed Mr. Sandip Kumar Kejriwal, as an Additional Director designated as Non Executive Independent Director of the Company, with effect from 14th February 2023, under Section 149, 150 of the Companies Act, 2013 and Articles of Association of the Company subject to the approval of Members in the general meetings and any other approval as may be required from time to time.
Pursuant to amendment (effective from 1st January 2022) to Regulation 17(1C) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, Mr. Sandip Kumar Kejriwal shall hold office upto the date of next General Meeting or for a period of three months from the date of appointment, whichever is earlier.
The Company has received a declaration from Mr. Sandip Kumar Kejriwal, confirming his eligibility for appointment as an Independent Director and has also furnished his consent in writing to act as an Independent Director in Form DIR-2 pursuant to Rule 8 of the Companies (Appointment & Qualification of Directors) Rules, 2014. He is not disqualified from being appointed as Director in terms of Section 164 of the Companies Act, 2013.
The Company has also received a declaration from Mr. Sandip Kumar Kejriwal confirming the criteria of Independence as prescribed under Section 149(6) of the Companies Act, 2013, under the Regulation 16(b) of the SEBI Listing Regulations, confirming that he do not have any interest in any member and fiduciary relationship with any of the shareholders of the Company and do not have any interested positions in commercial contracts and financial affairs of the Company.
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Mr. Sandip Kumar Kejriwal is a Central Council Member of The Institute of Company Secretaries of India (ICSI), New Delhi and is currently serving in various committees of ICSI. He has an extensive experience and exposure in various fields like Company Law, NCLT, and Finance etc and is Practicing Company Secretary for more than 20 years. He is an empaneled Mediator at 'Calcutta High Court Mediation Committee'. He brings with him an in-depth working in the above fields and provides advisory and professional services to various clients. He is a qualified Insolvency Professional and has been practicing in IBC area for more than 7 years. He is the past Chairman of Eastern India Regional Council (EIRC), Kolkata in the year 2016 and has been associated with various NGO’s.
Given his background and vast experience, his association would be very beneficial to the Company and it is desirable to appoint him as an Independent Director. With his exceptionally distinguished record of accomplishments, Mr. Sandip Kumar Kejriwal is well poised to add significant value and strength to the Board. His prior experience shall enables him to provide the Board with valuable insights on a broad range of business, social and governance issues that are relevant to the organisation.
A copy of the draft Letter of Appointment for Independent Directors is available for inspection through electronic mode, basis the request being sent on [email protected]
Except Mr. Sandip Kumar Kejriwal, being an appointee, none of the Directors or Key Managerial Personnel of the Company or their relatives is concerned or interested, financially or otherwise, in the resolution as set out in the Notice.
The Board of Directors based on the recommendations of the Nomination and remuneration Committee considered the appointment of Mr. Sandip Kumar Kejriwal as an Independent Director in the interest of the Company and recommends the Special Resolution as set out in the Notice for approval of Members.
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Disclosure under Regulation 36(3) of the Listing Regulations and Secretarial Standard- 2 on General Meetings (“SS-2”) -2 issued by the Institute of Company Secretaries of India are set out in the Annexure to the Explanatory Statement. This Explanatory Statement may also be regarded as an appropriate disclosure under the Listing Regulations.
Registered Office: Om Tower, 15th Floor, By Order of the Board of Directors 32, J. L. Nehru Road, Kolkata- 700 071 sd/CIN: L1729WB1993PLC058969 Mamta Jain Company Secretary and Compliance Officer
Date: 14th February 2023 Place: Kolkata
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ANNEXURE TO THE EXPLANATORY STATEMENT
Additional Information on Director recommended for appointment/re-appointment as required under Regulation 36(3) of SEBI Listing Regulation, and Secretarial Standard- 2 on General Meetings (“SS-2”) as prescribed by the Institute of Company Secretaries of India.
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Sl. Particulars Details
No.
1. Name of Director Mr. Sandip Kumar Kejriwal
2. DIN 00004333
3. Date of Birth 13.02.1969
4. Age 54 years
5. Date of first appointment on 14th February 2023 as an Additional Director
the Board designated as Non Executive Independent Director.
6. Qualifications M.Com , Company Secretary (CS)
7. Experience and expertise in Company Law, NCLT, and Finance
specific functional Area
8. Terms and conditions of As placed on the Company’s website
appointment or re- www.dollarglobal.in
appointment
9. Details of remuneration Sitting fee for attending Board and Committee
sought to be paid meetings of the Company.
10 Details of remuneration last NIL
drawn
11 Attendance at Board,
Board Meetings Committee Annual General
Committee & General
Meetings Meeting
Meetings held from the date of One out of One Not applicable Not applicable
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his appointment and Postal
Ballot Notice
12 Number of Shares held in Nil
Equity Capital of the
Company
13 Directorship held in other None
Indian Listed Companies
14 Chairman/Member of None
Committees of Board of
Director of other Listed
Companies
15 Disclosure of relationships None
between Directors/KMP inter-
se
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Registered Office: Om Tower, 15th Floor, By Order of the Board of Directors 32, J. L. Nehru Road, Kolkata- 700 071 sd/CIN: L1729WB1993PLC058969 Mamta Jain Company Secretary and Compliance Officer Date: 14th February 2023 Place: Kolkata
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