i Power Solutions India Ltd. — AGM Information 2020

Dec 24, 2020

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Dated 24[th] December 2020

BSE Limited Corporate Services Department Phiroze JeejeebhoyTowers DalalStreet, Mumbai—400001

Scrip Code: 512405

Dear Sir

• Sub: Proceedings of 35th Annual General Meeting of the members of M/s. iPower Solutions India Limited

We would like to inform you that the 35[th] Annual General Meeting of (AGM) of Members of iPower Solutions India Limited was held on Thursday, 24[th] December 2020 at 2.30 PM (IST) through Video conference (VC)/ other audio visual means (OAVM)..

In accordance with the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) read with Para A of Part A of Schedule III to the Listing Regulations and SEBI Circular having reference no. CIR/CFD/CMD/4/2015 dated September 09, 2015, the proceedings of the AGM is enclosed herewith.

The voting results as required under Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 will be disclosed to the Stock Exchanges separately.

The above information will be made available on the Company's website www.ipwrs.com

It is for your information and records please.

Thanking you, Yours faithfully, For iPower Solutions India Limited

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V PARANDHAMAN Managing Director DIN: 00323551

Encl: As above

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PROCEEDINGS OF 35TH ANNUAL GENERAL MEETING OF THE MEMBERS OF M/S. iPOWER SOLUTIONS INDIA LIMITED

The 35" Annual General Meeting (“AGM”) of the Members of the iPower Solutions India Limited (“the Company”) was held on Thursday, December 24, 2020 at 2.30 P.M. IST through video conferencing (“VC”) / other audio visual means (“OAVM”).

Mr V PARANDHAMAN, Chairman and Managing Director of the Company presided over the AGM Following Directors, Officers and Representatives attended the AGM from their respective places:

1. Mr. V Parandhaman, Chairman and Managing Director

2. Mr. D.Ravichandra Babu, Independent Director

3. K.Bhaskaran, Independent Director

4. R.Jayaprakash, Independent Director

5. Ramasubramaniam Gurusamy, Chief Financial Officer

6. CS Saimathy – Secretarial Auditor and Scrutinizer

7. V.R.Sridharan – Internal Auditor

8. 25 Members were present in the AGM through VC / OAVM. Since the quorum was present,

V Parandhaman, the Managing Director and Chairman on behalf of the Company called the AGM to order. The Chairman briefed the members about the business and operations of the Company, its performance during the financial year ended March 31, 2020, and future way forward of the Company.

The following documents were open and accessible electronically for inspection during the AGM:

1. Register of Directors and Key Managerial Personnel and their shareholding;

2. Register of Contracts or Agreements in which Directors are interested;

3. Audited financial statements for the financial year ended March 31, 2020;

4. Independent Auditor’s Report on the audited financial statements for the financial year ended March 31, 2020;

5. Secretarial Audit Report:

6. Draft letters of Appointment of Independent Directors;

7. Memorandum and Articles of Association of the Company

The compliance with the applicable provisions of the Companies Act, 2013 and rules made thereunder, applicable provisions of the Secretarial Standard on General Meeting (SS-2) issued by the Institute of Company Secretaries of India under Section 118(10) of the Companies Act, 2013, Ministry of Corporate Affairs General Circular No. 20/2020 dated May 05, 2020 read with General Circular No. 14/2020 dated April 08, 2020 and General Circular No. 17/2020 dated April 13, 2020, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular dated May 12, 2020, with respect to calling, convening and conducting this AGM was confirmed.

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The members were informed that the Company has extended to its members the facility to exercise their right to vote by electronic means through remote e-voting. The remote e-voting period began on Monday, December 21, 2020 at 9.00 a.m. and ended on Wednesday, December 23, 2020 at 5.00 p.m. Further, the facility for voting through e-voting system at AGM, was also available for all those members, who were present in the AGM and did not cast their votes by remote e-voting and otherwise not barred from doing so. Members, who have already cast their votes through remote e-voting were not entitled to vote again and vote, if any, cast at the AGM shall be treated as invalid. CS Saimathy, Practising Company Secretary, has been appointed by the Board of Directors as Scrutinizer to scrutinize the remote e-voting and e-voting at the AGM.

Thereafter, the members were explained in detail the provisions of the applicable law and the underlying resolutions to be moved. The members who have registered themselves as speakers upon having sent their request as such in advance as per the procedure prescribed in the Notice of the AGM were invited to ask questions, seek clarification and/or otherwise offer their view / comments related to any item of business of the AGM..

After that, the business of the AGM as per Notice of the AGM were taken up. All the Three (3) resolutions were moved for consideration and approval of the members. The resolutions, briefly, related to:

Ordinary Business:

Resolution No. 1: Ordinary Resolution

Adoption of the audited Financial Statements of the Company for the financial year ended 31“ March, 2020 and the Reports of the Board of Directors and Auditors thereon.

Resolution No. 2: Ordinary Resolution

Appointment of Director in the place of Mr.V Parandhaman (DIN : 00323551) who retires by rotation and being eligible offers himself for re-appointment

Special Business:

Resolution No. 3: Special Resolution

Appointment of Mrs. Namagiripettai Ramachandran Alamelu (DIN: 02138648) as an Independent Director of the Company for a second term of five consecutive years, in terms of Section 149 of the Companies Act, 2013

Thereafter, members, who were present in the AGM and did not cast their votes by remote e-voting and otherwise not barred from doing so, were informed to cast their votes through e-voting system. The members were also informed that the voting will be allowed till 15 (fifteen) minutes after the conclusion of the AGM.

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The members were informed that based on consolidated Scrutinizer’s Report, the combined result of remote e-voting and e-voting at the AGM will be declared on December 28, 2020 and will be placed on the Company’s website (www.ipwrs.com) and on the website of Central Depository Services (India) Limited (www.evotingindia.com).

The Meeting concluded at 2.50 PM . with a vote of thanks by Mr. V Parandhaman, Managing Director of the Company.

The Chairman thanked the members for their participation in the meeting.

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Chennai Date: 24/12/2020

Chairman cum Managing Director