Maharashtra Scooters Ltd. — AGM Information 2024

Jul 22, 2024

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22 July 2024

Corporate Relations Department BSE Limited DCS - CRD Phiroze Jeejeebhoy Towers Dalal Street, Mumbai 400 001	Corporate Listing Department National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor Plot No.C-1, G Block Bandra-Kurla Complex Bandra (East), Mumbai 400 051
BSE Code: 500266	NSE Code: MAHSCOOTER

Subject: Disclosure of events pursuant to Regulation 30(2) - Schedule III – Part A Para A(13) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015

Ref: Summary of proceedings of the 49th Annual General Meeting held on Monday, 22 July 2024

Dear Sir/Madam,

The 49th Annual General Meeting (AGM) of the members of Maharashtra Scooters Limited was held on Monday, 22 July 2024 at 3:45 p.m. at Hotel Hyatt Regency, Viman Nagar, Pune - 411014.

• Shri Sanjiv Bajaj, Chairman of the Company, chaired the meeting.

• 93 members attended the meeting.

• The requisite quorum, being present, Chairman called the meeting to order.

• The Chairman informed the Members that the Company has provided the facility of Oneway live webcast of the proceedings of this AGM which could be viewed live by the Members by logging on to the website of the Registrar, KFin Technologies Limited (KFin)

• The Chairman introduced the Directors and Key managerial personnel (CFO, CS and CEO) present on the Dais.

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www.mahascooters.com

Corporate Office: 6th Floor, Bajaj Finserv Corporate Office, Off Pune - Ahmednagar Road, Viman Nagar, Pune - 411 014, Maharashtra, India | Tel: +91 20 7157 6066 | Fax: +91 20 7150 5792 Registered Office: C/o Bajaj Auto Limited Complex, Mumbai - Pune Road, Akurdi, Pune - 411 035, Maharashtra, India Factory: C-1, MIDC, Satara 415 004 | Tel: +91 2162 244668 | Corporate ID No.: L35912MH1975PLC018376 | Email ID: investors@msls.co.in

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• The Chairman informed the members that Ms. Lila Poonawalla will be completing her first term as an Independent Director on 24 July 2024. Ms. Poonawalla has conveyed that she would not like to consider seeking re-appointment as an Independent Director of the Company, for a second term of five years, due to her other professional commitments.

• The Chairman also informed the Members that Shri Yogesh Shah and Shri Naresh Patni, as well, will be completing their tenure as Independent Directors of the Company on 12 October 2024 and that all the three Independent Directors on the dais are attending their last AGM of the Company.

• The Chairman further informed the Members regarding the recommendation of Board on the candidature of Jasmine Arish Chaney as an Independent Director of the Company for a consecutive period of 5 years with effect from 24 July 2024. On behalf of the board, the Chairman extended a warm welcome to Jasmine.

• The Chairman then introduced Shri Soorej Kombaht, Partner, KKC & Associates LLP, Chartered Accountants (Registration No. 105146W/W100621), Statutory Auditors of the Company and Shri Shyamprasad Limaye, the Secretarial Auditor and Scrutiniser appointed by the Company to scrutinise the e-voting process on the resolutions proposed in the notice of the said meeting, who were in attendance.

• The Chairman further informed the members about the documents available for inspection.

• The Chairman then informed the members that since the auditors’ report on the financial statements and the secretarial audit report for the financial year ended 31 March 2024 do not contain any adverse remark, qualification or disclaimer, the same were not being read out.

• The Chairman then informed the members regarding the details of proxies and resolution resolutions received under Section 113 of the Companies Act, 2013 received from Authorised representatives.

• The Chairman then delivered his formal address, inter alia, on some of the key updates about the Company.

• The Chairman, thereafter, informed the members that the Company had provided the members the facility to cast their votes electronically through remote e-voting on all the resolutions set forth in the notice.

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www.mahascooters.com

Corporate Office: 6th Floor, Bajaj Finserv Corporate Office, Off Pune - Ahmednagar Road, Viman Nagar, Pune - 411 014, Maharashtra, India | Tel: +91 20 7157 6066 | Fax: +91 20 7150 5792 Registered Office: C/o Bajaj Auto Limited Complex, Mumbai - Pune Road, Akurdi, Pune - 411 035, Maharashtra, India Factory: C-1, MIDC, Satara 415 004 | Tel: +91 2162 244668 | Corporate ID No.: L35912MH1975PLC018376 | Email ID: investors@msls.co.in

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• The Chairman informed the members that the facility for voting through e-voting system was made available during the AGM for Members who had not cast their vote prior to the meeting.

• The Chairman then briefed the members about the following items of business as per the Notice of 49[th] Annual General Meeting were transacted at the meeting for members’ consideration and approval:-

Ordinary Business

• (i) To consider and adopt the audited financial statements of the Company for the financial year ended 31 March 2024, together with the Directors’ and Auditors’ Reports thereon.

• (ii) To declare a dividend of Rs. 60 per equity share of face value of Rs. 10, for the financial year ended 31 March 2024.

• (iii) To appoint a director in place of Anish Amin (DIN: 00070679), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment.

Special Business

• (iv) Appointment of Jasmine Arish Chaney (DIN: 07082359) as a Non-Executive, Independent Director of the Company for a term of five consecutive years with effect from 24 July 2024

• On the invitation of the Chairman, Members made their comments, put up their queries, and sought clarifications on matters related to the Company.

• Clarifications were provided by Shri Sanjiv Bajaj, Chairman, Shri Anish Amin, NonExecutive Director, Shri Anant Marathe, CFO and Shri Sriram Subbramaniam, Company Secretary to the queries raised by the members.

• The Chairman then authorised Shri Sriram Subbramaniam, Company Secretary and Shri Shyamprasad Limaye, Scrutiniser to coordinate for an orderly conduct of the e-voting process

• The Chairman informed members that the e-voting results along with consolidated Scrutiniser’s Report shall be informed to the stock exchanges and also be placed on the website of the Company and KFin.

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www.mahascooters.com

Corporate Office: 6th Floor, Bajaj Finserv Corporate Office, Off Pune - Ahmednagar Road, Viman Nagar, Pune - 411 014, Maharashtra, India | Tel: +91 20 7157 6066 | Fax: +91 20 7150 5792 Registered Office: C/o Bajaj Auto Limited Complex, Mumbai - Pune Road, Akurdi, Pune - 411 035, Maharashtra, India Factory: C-1, MIDC, Satara 415 004 | Tel: +91 2162 244668 | Corporate ID No.: L35912MH1975PLC018376 | Email ID: investors@msls.co.in

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• The Chairman thanked all the members for their participation at the AGM and concluded the meeting.

• The meeting commenced at 3:45 p.m. and concluded at 4:29 p.m. (including time allowed for e-voting at AGM).

Kindly take the same on your record.

Thanking you,

Yours truly,

For Maharashtra Scooters Limited SRIRAM Digitally signed by SRIRAM SUBBRAMANIAM DN: c=IN, st=Maharashtra, 2.5.4.20=c83bd06986b0e5b17e4b1d879bed0 a48aa37d59197be8d8b3d454e47c81877c0, postalCode=400080, street=B-406 DHAIVAT VAISHALI NAGAR MULUND WEST, SUBBRAM pseudonym=b35c03116c61c7b64ef177da3cbb9a7f, serialNumber=fab56a2595022ebf5cc3e54d02 aecccf88998ea6c165b46ee1693ea45fa2cd7a, ANIAM o=Personal, cn=SRIRAM SUBBRAMANIAM Date: 2024.07.22 19:37:01 +05'30' Sriram Subbramaniam Company Secretary

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www.mahascooters.com

Corporate Office: 6th Floor, Bajaj Finserv Corporate Office, Off Pune - Ahmednagar Road, Viman Nagar, Pune - 411 014, Maharashtra, India | Tel: +91 20 7157 6066 | Fax: +91 20 7150 5792 Registered Office: C/o Bajaj Auto Limited Complex, Mumbai - Pune Road, Akurdi, Pune - 411 035, Maharashtra, India Factory: C-1, MIDC, Satara 415 004 | Tel: +91 2162 244668 | Corporate ID No.: L35912MH1975PLC018376 | Email ID: investors@msls.co.in