Jindal Drilling & Industries Ltd. — AGM Information 2020

Sep 28, 2020

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BSE Ltd National Stock Exchange of India Limited 25[th] Floor, P.J. Towers, Exchange Plaza, C-1, Block-G Dalal Street, Mumbai-400 001 Bandra-Kurla Complex Bandra (E), Mumbai – 400 051 Security Code: 511034 Security Code: JINDRILL

Sub: Proceedings of Annual General Meeting held on September 28, 2020.

Dear Sirs,

We wish to inform that the 36[th] annual general meeting (AGM) of the Company was held today, viz. September 28, 2020 through video conferencing (VC)/other audio visual means (OAVM). In this regard, please find enclosed the Proceedings of the AGM in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Further, we wish to inform that the results of remote e-voting and voting done at the AGM shall be announced within stipulated time of 48 hours from the conclusion of meeting. The results will be displayed at the Registered Office of the Company and placed on the website of the Company, once they are declared. The results would also be placed on the website of CDSL and will be disseminated to the Stock Exchanges, i.e. BSE Limited and National Stock Exchange of India Limited and be made available on their respective websites.

This is for your information and records.

Thanking you,

For Jindal Drilling and Industries Limited

Saurabh Agrawal Company Secretary

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Summary of the Proceedings of the 36[th] Annual General Meeting of Jindal Drilling And Industries Limited:-

The 36[th] Annual General Meeting (AGM) of the members of the Company was held on Monday, 28[th] September, 2020 at 11:30 A.M. through video conferencing (VC)/ other audio visual means (OAVM). The meeting was held in compliance with Circular No. 14/2020 dated April 08, 2020, Circular No. 17 /2020 dated April 13, 2020 read with Circular No. 20/2020 dated May 05, 2020 issued by Ministry of Corporate Affairs (hereinafter collectively referred to as 'Circulars') and SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P /2020/79 dated May 12, 2020 and other applicable provisions of the Companies Act, 2013 read with rules made thereunder.

Shri D. P. Jindal, Non-Executive Chairman of the Company chaired to conduct the proceedings of the AGM.

The Company Secretary informed the Chairman that requisite quorum is there. Quorum being present, the meeting was called to order by the Chairman. The members were informed that the statutory registers under the Companies Act, 2013 were available for electronic inspection by the members till the conclusion of the meeting. The notice of AGM was taken as read with the permission of members present. The Chairman informed that the Independent Auditors’ Report on Standalone and Consolidated Financial Statements and Secretarial Audit Report which are circulated as part of the Annual Report, do not contain any qualification or adverse remark except qualification on consolidated financial statement. Afterwards the qualification in the Consolidated Financial Statement and management response to that qualification were read. Thereafter, the Chairman delivered his speech.

The Chairman addressed all the members present at the meeting and briefed the members about Company's operations, achievement and future outlook of the Company.

The Company had provided electronic voting facility (remote e-voting) to its members to vote on resolutions to be placed in the AGM. The remote e-voting facility was open between 25[th] September, 2020 (09.00 A.M.) and 27[th] September, 2020 (05.00 P.M). The shareholders further informed that the members who are present at the meeting and have not cast their vote by remote e-voting are allowed to cast their vote at the AGM.

The following items of businesses were transacted at the meeting:

S. No.	S. No.	Particulars of Business	Nature of resolution	Nature of resolution
Ordinary Business:
1.	Adoption of: a) TheAuditedFinancialStatementsoftheCompanyforthe financialyearended31st March, 2020, together with the Reports of theDirectors and Auditors thereon. b) The Audited Consolidated Financial Statementsof the Company for the financial year ended31stMarch, 2020, together with the Report ofthe Auditors thereon.			Ordinary
2.	DeclarationofDividendonequity sharesoftheCompany			Ordinary
3.	Appointment of Mr. Raghav Jindal, who retires by rotation and being eligible,offers himself for re-appointment			Ordinary
Special	Business:
4.	Appointment of Mr. Raj Kamal Aggarwal as a Director of the Company.			Ordinary
5.	To revise the remuneration of Mr. Raghav Jindal,ManagingDirector			Special

6.	Approval of related party transaction(s) with Discovery Drilling Pte. Ltd.	Ordinary
7.	Approval of relatedpartytransaction(s)with Jindal Pipes Ltd	Ordinary
8.	Approval of related party transaction(s) with Maharashtra Seamless Ltd.	Ordinary
9.	Approval of relatedpartytransaction(s)with Virtue DrillingPte. Ltd.	Ordinary

The members were invited to make their comments and raise queries. The queries rose with respect to the Operations, performance and future prospects of the Company were satisfactorily responded to the members present.

Further, the members were informed that Mr. Manish Baldeva, Practicing Company Secretary was appointed as Scrutinizer to scrutinize the remote e-voting and voting at AGM and the voting result on resolutions will be announced on receipt of consolidated Scrutiniser’s report within 48 hours from the conclusion of the meeting and simultaneously be disseminated to the stock exchanges and also be placed on the website of the Company and Central Depository Services (India) Limited (CDSL).

The Chairman then thanked the members present at the meeting and declared the meeting closed at 12:16 P.M.

You are requested to take the same as compliance under Regulation 30 of the Listing Regulations. Voting Results, in the format prescribed pursuant to Regulation 44(3) of the Listing Regulations, shall be submitted in due course.