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Kitex Garmenets Ltd. — AGM Information 2024
Sep 28, 2024
63734_rns_2024-09-28_44782045-1ad7-4e49-af2b-16813c6030f7.pdf
AGM Information
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Kitex Garments Limited
(CIN: L18101KL1992PLC006528)
Regd. Office: Building No. VI/496, Kizhakkambalam, Vilangu P.O., Aluva, Ernakulam – 683561, Kerala Phone: 91 484 2585000, Fax: 91 484 2680604 Email: [email protected] Website: www.kitexgarments.com
Ref: KGL/SE/2024-25/SEP/12
September 28, 2024
To,
BSE Limited National Stock Exchange of India Ltd 1[st] Floor, New Trading Ring, ‘Exchange Plaza’, 5[th] Floor, Rotunda Building, P J Towers, Plot No.C/1, G Block, Dalal Street, Fort Mumbai, Bandra - Kurla Complex, Bandra (E), Maharashtra – 400 001 Mumbai, Maharashtra – 400 051. Scrip Code : 521248 Scrip Symbol : KITEX
Dear Sir/ Ma’am,
Sub: PROCEEDINGS OF 32[ND] ANNUAL GENERAL MEETING OF THE COMPANY HELD ON SEPTEMBER 28, 2024
Pursuant to Regulation 30, Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the brief proceedings of 32[nd] Annual General Meeting (AGM) of the Company held on Saturday, September 28, 2024 at 11:00 AM through Video Conferencing (VC)/ Other Audio Visual Means (OAVM).
Kindly request you to take above information on record and treat this as compliance with SEBI Listing Regulations.
Thanking you
Yours faithfully,
For Kitex Garments Limited
Dayana Digitally signed by Dayana Joseph Date: 2024.09.28 Joseph 23:26:41 +05'30'
Dayana Joseph
Company Secretary & Compliance Officer
Enclosure: As above
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Kitex Garments Limited
(CIN: L18101KL1992PLC006528) Regd. Office: Building No. VI/496, Kizhakkambalam, Vilangu P.O., Aluva, Ernakulam – 683561, Kerala Phone: 91 484 2585000, Fax: 91 484 2680604 Email: [email protected] Website: www.kitexgarments.com
SUMMARY OF PROCEEDINGS OF 32[ND] ANNUAL GENERAL MEETING
Pursuant to the Regulation 30 read with Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that the 32[nd] Annual General Meeting of the Company was duly held on Saturday, September 28, 2024 through Video Conferencing (VC)/ Other Audio Visual Means (OAVM) at 11.00 A.M.
The Company Secretary of the Company welcomed the shareholders and informed the members that the 32[nd] AGM was convened through Video Conferencing as per the circulars issued by the Ministry of Corporate Affairs and Securities and Exchange Board of India, from time to time. VC facility for conducting the AGM and remote e-voting as well as e-voting at the time of AGM was provided by the Central Depository Services (India) Limited. She also briefed on certain points regarding the participation in the meeting through VC.
Mr. Sabu M. Jacob, Chairman and Managing Director of the Company, chaired the meeting. The Company Secretary on behalf of chairman called the meeting to order as requisite quorum was present and she introduced the directors and all invitees present at the meeting.
CA Geetha Jeyakumar, Partner of M/s. MSKA & Associates, Chartered Accountants, Chennai, Statutory Auditor, CS Vincent P.D., Managing Partner and CS Jayan K, Partner, representing SVJS & Associates, Company Secretaries, Kochi being the Secretarial Auditor and Scrutinizer were also present through VC.
It was informed that there was no proxy facility available for this meeting and the Statutory Registers and other documents related to the Ordinary and Special Businesses were made available for inspection.
With the consent of the members present at the meeting, the notice convening the Annual General Meeting along with Audited Accounts for the year ended March 31, 2024 together with the Report of Board of Directors were taken as read. The Chairman and Managing Director of the Company addressed the shareholders and briefed about the performance of the Company and the awaiting opportunities . He explained the future initiatives which were commenced during the year under review, the expansion project at Telangana etc.
The Company Secretary has read out the qualification in the Independent Auditor’s Report on Standalone Financial Statements. She informed the Members that there being no qualifications, observations and comments in the Independent Auditor’s Report on Consolidated Financial Statements, the same was not
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Kitex Garments Limited
(CIN: L18101KL1992PLC006528) Regd. Office: Building No. VI/496, Kizhakkambalam, Vilangu P.O., Aluva, Ernakulam – 683561, Kerala Phone: 91 484 2585000, Fax: 91 484 2680604 Email: [email protected] Website: www.kitexgarments.com
required to be read. She also informed that the observations given in the Secretarial Audit Report were self-explanatory and the explanations were given by Board of Directors in their Report which does not have any material adverse effect on the functioning of the company.
The following businesses were placed by the Company Secretary and transacted at the AGM.
| 1 | Detail of the Agenda: Resolution Required: Mode of voting: |
Adoption of audited financial statements (including the Consolidated financial statements) of the Company for the year ended March 31, 2024 together with the Report of the Board of Directors and Independent Auditors report thereon Ordinary Resolution Remote E-votingand byE-votingat the AGM. |
|---|---|---|
| 2 | Detail of the Agenda: Resolution Required: Mode of voting: |
Declaration of a Final Dividend of Rs. 1.50 per equity share for the financial year ended March 31, 2024. Ordinary Resolution Remote E-votingand byE-votingat the AGM. |
| 3 | Detail of the Agenda: Resolution Required: Mode of voting: |
Appointment of Director in place of Mrs. Sindhu Chandrasekharan (DIN: 06434415), who retires by rotation and being eligible offers herself for re-appointment Ordinary Resolution Remote E-votingand byE-votingat the AGM. |
| 4 | Detail of the Agenda: Resolution Required: Mode of voting: |
Appointment of Mr. A K Mathew (DIN: 02437778) as an independent director Special Resolution Remote E-votingand byE-votingat the AGM |
| 5 | Detail of the Agenda: Resolution Required: Mode of voting: |
Approval to advance any loan or give guarantee or provide security under Section 185 of the Companies Act, 2013 Special Resolution Remote E-votingand byE-votingat the AGM. |
| 6 | Detail of the Agenda: Resolution Required: Mode of voting: |
Re-appointment of Mrs. Sindhu Chandrasekharan (DIN: 06434415) as Whole-Time Director Ordinary Resolution Remote E-voting and by E-voting at the AGM. |
|---|---|---|
| 7 | Detail of the Agenda: Resolution Required: Mode of voting: |
Approval for Material Related Party Transactions with Kitex Apparel Parks Limited Ordinary Resolution Remote E-votingand byE-votingat the AGM. |
| 8 | Detail of the Agenda: Resolution Required: Mode of voting: |
Approval for Material Related Party Transactions with Kitex Childrenswear Limited Ordinary Resolution Remote E-votingand byE-votingat the AGM. |
| 9 | Detail of the Agenda: Resolution Required: Mode of voting: |
Approval for Material Related Party Transactions with Kitex USA LLC Ordinary Resolution Remote E-votingand byE-votingat the AGM. |
| 10 | Detail of the Agenda: Resolution Required: Mode of voting: |
Material Related Party Transaction(s) of identified subsidiary of the company, viz, Kitex Apparel Parks Limited (KAPL) with Kitex Building Systems L.L.C-FZ, related parties of the company Ordinary Resolution Remote E-votingand byE-votingat the AGM. |
| 11 | Detail of the Agenda: Resolution Required: Mode of voting: |
Material Related Party Transaction(s) of identified subsidiary of the company, viz, Kitex Apparel Parks Limited (KAPL) with Kitex Childrenswear Limited, related parties of the company Ordinary Resolution Remote E-votingand byE-votingat the AGM. |
The Company Secretary informed that the remote e-voting commenced on Wednesday, September 25, 2024 at 9:00 A.M. and ended on Friday, September 27, 2024 at 5:00 P.M. (both days inclusive). She further informed the members that the facility for e-voting was made available during the meeting for members who had not cast their vote through remote e-voting.
The Company had appointed CS. Jayan K, of M/s. SVJS & Associates, Company Secretaries, Kochi as the scrutinizer for the purpose of scrutinizing the process of remote e-voting and e-voting process at the AGM.
Kitex Garments Limited
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(CIN: L18101KL1992PLC006528) Regd. Office: Building No. VI/496, Kizhakkambalam, Vilangu P.O., Aluva, Ernakulam – 683561, Kerala Phone: 91 484 2585000, Fax: 91 484 2680604 Email: [email protected] Website: www.kitexgarments.com
The Company Secretary announced that the e-voting results along with the Scrutinizer report shall be informed to the stock exchanges within 2 working days of conclusion of AGM and also be placed on the website of the Company.
Members who had registered as speaker shareholder within the prescribed timeline were requested to ask queries. Thereafter, the voting module was extended for another 15 minutes to enable the members to cast their votes.
The AGM concluded at 11.35 A.M (IST) (including the time allowed for e-voting at the AGM)
Kindly take this intimation on record.
Thanking you
Yours faithfully
For Kitex Garments Limited
Dayana Digitally signed by Dayana Joseph Date: 2024.09.28 Joseph 23:28:26 +05'30'
Dayana Joseph
Company Secretary & Compliance Officer