G. G. Dandekar Properties Limited — Call Transcript 2023

May 6, 2023

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Transcript of the Extra-Ordinary General Meeting No. 1 of Financial Year 2023-24 of G. G. Dandekar Machine Works Limited

• Company Secretary: (Ms. Ashwini Paranjape)

Good morning everyone. It is 11.52 A.M. I welcome you all to the Extra-Ordinary General Meeting No. 1 of Financial Year 2023-24 of the Company. As there is no regular Chairperson appointed of the Board of Directors, it is required that one of the directors be elected as Chairperson for this meeting. The Directors have mutually agreed and suggested that Mr. Pranav Deshpande should occupy the Chair and be elected as Chairman. I now request Mr. Pranav Deshpande Chairman of the Company to please proceed.

Chairman:

(Mr. Pranav Deshpande)

On behalf of the Board of Directors, I extend a hearty welcome to all of you at the Extra-Ordinary General Meeting (EOGM) of the Company.

The requisite quorum being present, I call the meeting to order. Since the year 2020, due to the Covid-19 pandemic, the general meetings of the members are being held through Video Conferencing facility in compliance with the circulars issued by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI) from time to time.

The Registers, Documents and Records as required by law are open for inspection by the Members electronically during the EOGM at NSDL e-voting portal.

We regret the absence of Mr. Pawan Rathi, Non-Executive Independent Director and Mrs. Smita Raichurkar Non-Executive Director due to other preoccupations and commitments. They have requested that leave of absence be granted to them.

I would like to introduce to you the Board of Directors,

• -- I am, Pranav Deshpande –Executive Director

• -- Mr. Sanket Deshpande - Independent Director

• -- Mr. Rahul Kothari – Independent Director

I would like to inform you that the following KMP are also attending this meeting,

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-- Ms. Ashwini Paranjape – Company Secretary

-- Mr. Pankaj Parkhi – Chief Financial Officer

-- Ms. Bageshri Kulkarni – Partner, M/s. Kulkarni Soman & Associates, Statutory Auditors

-- Mr. Mahesh Athavale – Partner, Kanj & Co LLP, Secretarial Auditors

The Notice calling the EOGM has already been circulated to the members vide email and are also available at the website of the Company and BSE Limited.

With the consent of the Members; the same are considered as read.

During FY 2022-23, your company has purchased 3.5 floors in the pre-leased commercial property situated at Erandwane, Pune – Suma Center- for the consideration of approximately Rs. 44 Crores. The Company is currently earning lease rental income on the same.

During Q4 of FY 2022-23, the Company decided to discontinue manufacturing activities at the Butibori factory in Nagpur. The Company has completed formalities regarding the same in the due course of time.

With this, I thank you for your presence here today, and for your continued support and goodwill that is critical for the success of your Company.

As the Company has not received registration for Speaker Shareholder, I will now provide details about e-voting:

• The Remote e-voting period commenced on Tuesday, 02 May 2023 at 9.00 a.m. (IST) and ended on Thursday, 04 May 2023 at 5.00 p.m. (IST).

• The facility for e-voting is available to those Members, who are present at the EOGM and have not cast the votes by remote e-voting. The e-voting will come to end after 15 minutes of the conclusion of this meeting.

• Mr. Mahesh Athavale, Practicing Company Secretary has been appointed as the Scrutinizer to scrutinize the e- voting process in a fair and transparent manner and to provide the report thereto.

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• The Scrutinizer’s report will be submitted to the stock exchange within forty-eight hours from conclusion of annual general meeting and will also be uploaded at the website of the Company and NSDL.

• I am grateful to all shareholders for taking the initiative to join the meeting through Video Conferencing facility.

• Proceedings of the Extra-Ordinary general meeting will conclude at the end of e-voting period.

With your permission, Members of the Board of Directors will log off now from the EOGM. Thank you!

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