Maharashtra Seamless Ltd. — Proxy Solicitation & Information Statement 2023

May 26, 2023

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E-Communication

MSL/SEC/SE/2023-24

26th May, 2023

BSE Limited National Stock Exchange of India Limited 25[th] Floor, P.J. Towers, Exchange Plaza, C-1, Block-G, Dalal Street, Mumbai-400001 Bandra - Kurla Complex Bandra (E), Mumbai-400051

Stock Code: 500265 Scrip Code: MAHSEAMLES

Sub: Postal Ballot Notice - Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 (“SEBI LODR”)

Dear Sir/Madam,

Pursuant to the Regulation 30 of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith a copy of the Postal Ballot Notice dated 26th May, 2023.

The Postal Ballot Notice, along with other relevant documents, have been sent electronically to the Shareholders whose names appear in the register of members/ beneficial owners received from the National Securities Depository Limited (”NSDL”) and Central Depository Services (India) Limited as on 19th May, 2023 ("Cut-off date”), seeking their approval as set out in the Postal Ballot Notice.

The Company has engaged the services of NSDL for the purpose of providing e—voting facility to all its members. The voting will commence from Sunday, 28th May, 2023 from 09.00 a.m. (IST) and ends at 05.00 p.m. (IST) on Monday, 26th June, 2023 .

The results of the postal ballot will be announced on or before 28th June, 2023 . The above information will also be made available on the website of the Company www.jindal.com.

Submitted for your information and record.

Thanking you, Yours faithfully,

For Maharashtra Seamless Limited

RAM JI Digitally signed by RAM JI NIGAM NIGAM Date: 2023.05.26 17:01:48 +05'30' Ram Ji Nigam Company Secretary

Encl.- As stated above

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MAHARASHTRA SEAMLESS LIMITED

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MAHARASHTRA SEAMLESS LIMITED

CIN: L99999MH1988PLC080545

Regd. Office: Pipe Nagar, Village- Sukeli, N.H. 17, B.K.G. Road, Taluka Roha, Distt. Raigad - 402 126, Maharashtra Phone: +91 2194 238511, 238512, 238516 Fax: +91 02194 238513 Corporate Office: Plot No. 30, Institutional Sector-44, Gurugram-122 003, Haryana Interim Corporate Office: Plot No. 106, Institutional Sector-44, Gurugram-122 003, Haryana Phone: +91 124 4624000, 2574326, 2575626 Fax: +91 124 2574327 E-mail: secretarial@mahaseam.com, Website: www.jindal.com

NOTICE OF POSTAL BALLOT

[Pursuant to Section 110 of the Companies Act, 2013 read with Rule 20 & 22 of the Companies (Management and Administration) Rules, 2014]

NOTICE is hereby given pursuant to the provisions of Section 110 and other applicable provisions, if any, of the Companies Act, 2013 (the "Act") read with the Companies (Management and Administration) Rules, 2014 ("Rules"), Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), Secretarial Standard on General Meetings (SS-2), as amended from time to time and in accordance with the guidelines prescribed by the Ministry of Corporate Affairs („MCA‟) for holding general meetings / conducting Postal Ballot process through e-voting vide General Circular Nos. 14/2020 dated 8th April 2020, 17/2020 dated 13th April 2020, 22/2020 dated 15th June 2020, 33/2020 dated 28th September 2020, 39/2020 dated 31st December 2020, 10/2021 dated 23rd June 2021, 20/2021 dated 8th December, 2021, 3/2022 dated 5[th] May, 2022 and 11/2022 dated 28[th] December, 2022 (collectively referred to as „MCA Circulars‟), that the resolution appended below is proposed to be passed by the members through Postal Ballot only by voting through electronic means (remote E-voting).

SPECIAL BUSINESS:

Item No. 1: To appoint and approve payment of remuneration to Mr. S. P. Raj (DIN-00520481) as Whole-time Director and in this regard to pass the following resolution as a Special Resolution.

“ RESOLVED THAT in accordance with the provisions of Sections 196, 197, 198 and 200 read with Schedule V and all other applicable provisions, if any, of the Companies Act, 2013, or any statutory modification(s) or re-enactment thereof, consent of the members of the Company be and is hereby accorded to the appointment of and payment of remuneration to Mr. S. P. Raj (DIN-00520481), as Whole-time Director of the Company, for a period of 3 (three) years with effect from 31st March, 2023 on the terms and conditions, as set out herein below, with liberty to the Board of Directors to alter and vary the terms and conditions and/or remuneration, subject to the same not exceeding the limits specified under Schedule V of the Companies Act, 2013, or any statutory modification(s) or re-enactment thereof for the time being in force or any amendments thereto as may be agreed to between the Board of Directors and Mr. S. P. Raj.

SALARY

Rs. 2,20,000 (Rupees Two Lakh Twenty Thousand only) per month with such increase as may be decided by the Board of Directors from time to time in the grade Rs.2,20,000 – Rs.4,00,000 per month.

MAHARASHTRA SEAMLESS LIMITED

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PERQUISITES

• I. The Whole-time Director shall be entitled to perquisites and benefits like furnished /non furnished accommodation or house rent allowance in lieu thereof, gas, electricity, water, medical reimbursement, leave travel concession for self & family, club fees, car with driver for business and personal use, facility of telephone installed at his residence, medical and personal accident insurance, education allowance, bonus/ex-gratia etc. as per rules of the Company. The value of perquisites shall be evaluated as per Income Tax Rules, wherever applicable.

• II. The Whole-time Director shall also be entitled for the following perquisites which shall not be included in the computation of the ceiling on remuneration:

• a) Company's contribution to Provident Fund, superannuation fund or annuity fund to the extent these either singly or put together are not taxable under the Income tax Act;

• b) gratuity payable at a rate not exceeding half a month‟s salary for each completed year of service; and

• c) encashment of leave at the end of the tenure.

MINIMUM REMUNERATION

In the event of loss or inadequacy of profits, the remuneration including the perquisites as mentioned above shall be paid in accordance with Schedule V and other applicable provisions of the Companies Act, 2013 as amended from time to time.

OTHER TERMS

1. The Whole-time Director shall not be paid any sitting fees for attending the meeting(s) of the Board of Directors or Committees thereof.

2. The Whole-time Director shall be entitled to reimbursement of entertainment, traveling and all other expenses incurred in the course of the Company‟s business.

By Order of the Board of Directors For Maharashtra Seamless Limited

Place: New Delhi Date: 26th May, 2023

Ram Ji Nigam Company Secretary M. No. ACS-18763

NOTES:

1. The Explanatory Statement for the proposed resolution pursuant to Section 102 of the Companies Act, 2013 (“Act”) read with Section 110 of the Act, setting out material facts is annexed herewith.

2. The Board of Directors of the Company has appointed Ms. Jyoti Sharma (FCS 8843), Proprietor M/s JVS Associates, Company Secretaries as the Scrutinizer for conducting the Postal Ballot through remote e-voting process in a fair and transparent manner.

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MAHARASHTRA SEAMLESS LIMITED

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1. As per MCA Circulars, the Company is sending this Notice in electronic form only to those Members whose e-mail addresses are registered with the Company/ Depositories. If your e-mail address is not registered with the Company/Depositories, please follow the process provided in the Notes to receive this Postal Ballot Notice. Accordingly, physical copy of the Notice along with Postal Ballot Form and pre-paid business reply envelope is not being sent to the Members for this Postal Ballot. The communication of the assent or dissent of the Members would only take place through the remote e-voting system.

2. The aforesaid Notice has been uploaded on the website of the Company i.e. www.jindal.com the same can also be accessed from the websites of the Stock Exchanges i.e. BSE Limited at www.bseindia.com and National Stock Exchange of India Limited at www.nseindia.com and is also available on the website of National Securities Depository Limited (NSDL) (agency providing the remote e-Voting facility) at www. evoting.nsdl.com.

3. In compliance with provisions of Section 108 and Section 110 and other applicable provisions of the Act read with the Companies (Management and Administration) Rules, 2014 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company is pleased to offer e-voting facility to all Members of the Company. For this purpose, the Company has entered into an agreement with National Securities Depository Limited (NSDL) for facilitating e-voting to enable the Members to cast their votes electronically.

4. Process for registration of email id for obtaining Postal Ballot Notice and user id/password for e-voting:

For Physical Holding : Send a request to the Registrar and Transfer Agents of the Company (RTA), at rta@alankit.com providing Folio No., Name of shareholder, scanned copy of the share certificate (front and back), PAN (self-attested scanned copy of PAN card), AADHAR (self-attested scanned copy of Aadhar Card) for registering e-mail address.

For Demat Holding : Please contact your Depository Participant (DP) and register your e- mail address in your demat account, as per the process advised by your DP. After successful registration of the e-mail address, a copy of this Postal Ballot Notice along with the remote e-voting user ID and password will be sent to your registered e-mail address, upon request received from the Members.

1. The Resolutions, if passed by requisite majority, will be deemed to have been passed on the last date of e-voting i.e. 26th June, 2023.

2. The Instructions for remote e-voting are as under:

3. i. In compliance with the provisions of Sections 108 and 110 of the Act, Rules 20 and 22 of the Rules, Regulation 44 of the SEBI Listing Regulations, MCA Circulars and SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated December 9, 2020 in relation to e-voting facility provided by Listed Entities, the Company has provided the facility of remote e-voting to all Members, to enable them to cast their votes electronically. The Company has engaged the services of NSDL to provide remote e-voting facility to its Members.

4. ii. Voting rights of the Members shall be in proportion to the shares held by them in the paid-up equity share capital of the Company as on 19th May, 2023 (“Cut-off date”). Only those Members whose names are recorded in the Register of Members of the Company or in the Register of Beneficial Owners maintained by the Depositories as on the Cut-off date will be entitled to cast their votes by remote e-voting. A person who is

MAHARASHTRA SEAMLESS LIMITED

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not a Member as on the Cut-off date should treat this Postal Ballot Notice for information purposes only. The remote e-voting period commences from 9.00 a.m. (IST) on Sunday, 28th May, 2023 and ends at 5.00 p.m. (IST) on Monday, 26th June, 2023. The e-voting module shall be disabled by NSDL thereafter.

Once the vote on the resolution is cast by the Member, he/she shall not be allowed to change it subsequently.

iii. The details of the process and manner for remote e-voting are explained herein below:

The way to vote electronically on NSDL e-voting system consists of “Two Steps” which are mentioned below:

Step 1: Access to NSDL e-voting system

A) Login method for e-voting for Individual shareholders holding securities in demat mode

Pursuant to SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated December 9, 2020 on “e-voting facility provided by Listed Companies”, e-voting process has been enabled to all the individual demat account holders, by way of single login credential, through their demat accounts/websites of Depositories/DPs to increase the efficiency of the voting process. Individual demat account holders would be able to cast their vote without having to register again with the e-voting service provider (“ESP”) thereby not only facilitating seamless authentication but also ease and convenience of participating in e-voting process. Shareholders are advised to update their mobile number and e-mail ID with their DPs to access e-voting facility.

Login method for Individual shareholders holding securities in demat mode is given below:

below:
Type of shareholders	Login Method
Individual Shareholders holding securities in demat mode withNSDL	1. ExistingIDeASuser can visit the e-Services website of NSDL Viz.https://eservices.nsdl.com either on a Personal Computer or on a mobile. On the e-Services home page click on the “Beneficial Owner”icon under“Login”which is available under„IDeAS‟section , this will prompt you to enter your existing User ID and Password. After successful authentication, you will be able to see e-Voting services under Value added services. Click on“Access to e-Voting”under e-Voting services and you will be able to see e-Voting page. Click on company name ore-Voting service provider i.e. NSDLand you will be re-directed to e-Voting website of NSDL for casting your vote during the remote e-Voting period. 2. If you are not registered for IDeAS e-Services, option to register is available athttps://eservices.nsdl.com. Select “Register Online for IDeAS Portal” or click at https://eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp 3. Visit the e-Voting website of NSDL. Open web browser by typing the following URL:https://www.evoting.nsdl.com/either on a Personal Computer or on a mobile. Once the home page of e-Voting system is launched, click on the icon “Login” which is available under „Shareholder/Member‟ section. A new

MAHARASHTRA SEAMLESS LIMITED

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screen will open. You will have to enter your User ID (i.e. your sixteen digit demat account number hold with NSDL), Password/OTP and a Verification Code as shown on the screen. After successful authentication, you will be redirected to NSDL Depository site wherein you can see e-Voting page. Click on company name or e-Voting service provider i.e. NSDL and you will be redirected to e-Voting website of NSDL for casting your vote during the remote e-Voting period.

1. Shareholders/Members can also download NSDL Mobile App “ NSDL Speede ” facility by scanning the QR code mentioned below for seamless voting experience.

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Shareholders	Shareholders	Shareholders		1. Existing users who have opted for Easi / Easiest, they can
holding		securities		login through their user id and password. Option will be made
in	Demat		mode	available to reach e-Voting page without any further
with	CDSL			authentication. The URL for users to login to Easi / Easiest are
				https://web.cdslindia.com/myeasi/home/login or
				www.cdslindia.com and click on New System Myeasi.
				2. After successful login of Easi/Easiest the user will be also able
				to see the E Voting Menu. The Menu will have links of e-
				Voting service provider i.e. NSDL. Click on NSDL to cast
				your vote.
				3. If the user is not registered for Easi/Easiest, option to register is
				available at
				https://web.cdslindia.com/myeasi/Registration/EasiRegistration
				4. Alternatively, the user can directly access e-Voting page by
				providing demat Account Number and PAN No. from a link in
				www.cdslindia.com home page. The system will authenticate
				the user by sending OTP on registered Mobile & Email as
				recorded in the demat Account. After successful
				authentication, user will be provided links for the respective
				ESP i.e. NSDL where the e-Votingis inprogress.
Individual				You can also login using the login credentials of your demat
Shareholders				account through your Depository Participant registered with
(holding		securities		NSDL/CDSL for e-Voting facility. upon logging in, you will be
in	demat mode)			able to see e-Voting option. Click on e-Voting option, you will be
login through their				redirected to NSDL/CDSL Depository site after successful
Depository				authentication, wherein you can see e-Voting feature. Click on
Participants				company name or e-Voting service provider i.e. NSDL and you
				will be redirected to e-Voting website of NSDL for casting your
				vote during the remote e-Voting period or joining virtual meeting
				& votingduringthe meeting.

MAHARASHTRA SEAMLESS LIMITED

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Important note: Members who are unable to retrieve User ID/ Password are advised to use Forget User ID and Forget Password option available at respective website.

Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login through Depository i.e. NSDL and CDSL

**Login type **	Helpdesk details
Individual Shareholders holding securities in Demat mode with NSDL	Members facing any technical issue in login can contact NSDL helpdesk by sending a request at evoting@nsdl.co.in or call at toll free no. 1800 1020 990 and 1800 22 44 30
Individual Shareholders holding securities in Demat mode with CDSL	Members facing any technical issue in login can contact CDSL helpdesk by sending a request at helpdesk.evoting@cdslindia.com or contact at 022- 23058738 and 22-23058542-43.

B) Login method for e-voting for shareholders other than Individual shareholders holding securities in demat mode and shareholders holding securities in physical mode.

How to Log-in to NSDL e-Voting website?

1. Visit the e-voting website of NSDL. Open web browser by clicking the URL: https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile.

2. Once the home page of e-voting system is launched, click on the icon “Login” which is available under „Shareholder/Member‟ section.

3. A new screen will open. You will have to enter your User ID, Password/OTP and a verification code as shown on the screen. Alternatively, if you are registered for NSDL eservices i.e. IDeAS, you can log-in at https://eservices.nsdl.com/ with your existing IDeAS login. Once you log-in to NSDL eservices after using your login credentials, click on e-voting and you can proceed to Step 2 i.e. Cast your vote electronically.

4. Your User ID details are given below:

Manner of holding shares i.e. Demat (NSDL or CDSL) or Physical	Your User ID is:
a) For Members who hold shares in demat account with NSDL.	8 Character DP ID followed by 8 Digit Client ID For example if your DP ID is IN300 and Client ID is 12 then your user ID is IN30012**.
b) For Members who hold shares in demat account with CDSL.	16 Digit Beneficiary ID For example if your Beneficiary ID is 12** then your user ID is 12**
c) For Members holding shares in Physical Form.	EVEN Number followed by Folio Number registered with the Company For example if folio number is 001 and EVEN is 101456 then user ID is 101456001

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1. Password details for shareholders other than Individual shareholders are given below:

2. a) If you are already registered for e-voting, then you can use your existing password to login and cast your vote.

3. b) If you are using NSDL e-Voting system for the first time, you will need to retrieve the „initial password‟ which was communicated to you. Once you retrieve your „initial password‟, you need to enter the „initial password‟ and the system will force you to change your password.

c) How to retrieve your „initial password‟?

• (i) If your e-mail ID is registered in your demat account or with the Company, your „initial password‟ is communicated to you on your e-mail ID. Trace the e-mail sent to you from NSDL from your mailbox. Open the e-mail and open the attachment i.e. a .pdf file. Open the .pdf file. The password to open the .pdf file is your 8 digit client ID for NSDL account, last 8 digits of client ID for CDSL account or folio number for shares held in physical form. The .pdf file contains your „User ID‟ and your „initial password‟.

• (ii) If your e-mail ID is not registered, please follow steps mentioned below in process for those shareholders whose e-mail IDs are not registered.

• If you are unable to retrieve or have not received the “Initial password” or have forgotten your password:

• a) Click on “Forgot User Details/Password ?”(If you are holding shares in your demat account with NSDL or CDSL) option available on www.evoting.nsdl.com.

• b) “Physical User Reset Password?” (If you are holding shares in physical mode) option available on www.evoting.nsdl.com.

• c) If you are still unable to get the password by aforesaid two options, you can send a request at evoting@nsdl.co.in mentioning your demat account number/folio number, PAN, name and registered address etc.

• d) Members can also use the OTP (One Time Password) based login for casting the votes on the e-voting system of NSDL.

• After entering your password, tick on Agree to “Terms and Conditions” by selecting on the check box.

• Now, you will have to click on “Login” button.

• After you click on the “Login” button, Home page of e-Voting will open.

Step 2: Cast your vote electronically on NSDL e-voting system.

How to cast your vote electronically on NSDL e-voting system?

After successful login at Step 1, you will be able to see all the companies “EVEN” in which you are holding shares and whose voting cycle.

Select “EVEN” of Company, which is 123978 for which you wish to cast your vote during the remote e-voting period.

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1. Now you are ready for e-voting as the voting page opens.

2. Cast your vote by selecting appropriate options i.e. assent or dissent, verify/modify the number of shares for which you wish to cast your vote and click on “Submit” and also “Confirm” when prompted.

3. Upon confirmation, the message “Vote cast successfully” will be displayed and you will receive a confirmation by way of a SMS on your registered mobile number from depository.

4. You can also take the printout of the votes cast by you by clicking on the print option on the confirmation page.

5. Once you confirm your vote on the resolution, you will not be allowed to modify your vote.

General Guidelines for Shareholders

1. Institutional/Corporate shareholders (i.e. other than individuals, HUF, NRI, etc.) are required to send scanned copy (PDF/JPG format) of the relevant Board Resolution/Authority letter etc. with the attested specimen signature of the duly authorized signatory(ies) who are authorized to vote, to the Scrutinizer by e-mail to legal2015js@gmail.com with a copy marked to evoting@nsdl.co.in

2. It is strongly recommended not to share your password with any other person and take utmost care to keep your password confidential. Login to the e-voting website will be disabled upon five unsuccessful attempts to key in the correct password. In such an event, you will need to go through the “Forgot User Details/Password?” or “Physical User Reset Password?” option available on https://www.evoting.nsdl.com to reset the password.

3. In case of any queries, you may refer the Frequently Asked Questions (“FAQs”) for Shareholders and e-voting user manual for Shareholders available at the download section of https://www.evoting.nsdl.com. For any grievances connected with facility for e-voting, please contact Ms. Pallavi Mhatre, Manager, NSDL, 4th Floor, „A‟ Wing, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai 400 013, e-mail: evoting@nsdl.co.in, toll free no: 18001020990/1800224430.

Other Instructions

The Scrutinizer shall after the conclusion of the e-voting on 26th June, 2023, submit their report to the Chairman or a person authorised by him in writing, who shall countersign the same and declare the result of the e-voting of the Postal Ballot forthwith. The resolutions, if passed by requisite majority, shall be deemed to have been passed on 26th June, 2023 being the last date of the remote e-voting.

Results of voting shall be declared on or before 28th June, 2023. The results along with scrutinizers‟ report would be intimated to the Stock Exchange where the securities of the Company are listed, Depositories and Registrar and Share Transfer Agent and will be displayed on the Company‟s website www.jindal.com and on the website of NSDL www.evoting.nsdl.com and at the registered office of the Company.

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EXPLANATORY STATEMENT (Pursuant to Section 102 read with Section 110 of the Companies Act, 2013)

Item Nos. 1

The Board of Directors of the Company has appointed Mr. S. P. Raj as Whole-time Director of the Company for a period of 3 years with effect from 31st March, 2023 on the terms and conditions, set out in the resolution.

Mr. S. P. Raj is not disqualified from being appointed as Whole-time Director in terms of Section 164 of the Act and not debarred or disqualified from being appointed as Whole-time Director of the Company by SEBI/Ministry of Corporate Affairs or such other statutory body.

Pursuant to the Companies Act, 2013, approval of the Members by way of a Special Resolution is necessary for appointment / continuation of appointment of any Executive Director who is attaining the age of 70 (Seventy) years.

Mr. S. P. Raj, a seasoned professional in the seamless pipe industry, is being appointed due to his extensive experience and widely respected expertise in product development. With over four decades of technical experience in the industry, he has made significant contributions to the seamless pipe industry, particularly in the area of product development. Mr. Raj's wealth of experience and mature perspective will likely bring new opportunities and innovative solutions to challenges faced by the Company. Therefore, his appointment is expected to contribute to the growth and success of the company in the seamless pipe industry.

Except Mr. S. P. Raj and his relatives who may be deemed to be interested in the resolution to the extent of their shareholding, if any, none of the other Directors/ Key Managerial Personnel and their relatives is interested financially or otherwise in the resolution.

The Board recommends the resolution as set out in item no. 1 of the accompanying Postal Ballot Notice for the approval of members of the Company.

By Order of the Board of Directors For Maharashtra Seamless Limited

Ram Ji Nigam Company Secretary M. No. ACS-18763

Place: New Delhi Date: 26th May, 2023

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Details pursuant to Regulation 36(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Secretarial Standards (SS-2) issued by the Institute of Company Secretaries of India]

Particulars	Mr.S. P. Raj
Age	69 years
Qualifications	B.E.(Mechanical)
Brief Profile Expertise in specific functional area	S. P. Raj aged about 69 years, an experienced professional in the seamless pipe industry, with over four decades of technical experience in this field. His expertise in product development is widely respected in the industry. With his wealth of experience, S. P. Raj has made significant contributions to the seamless pipe industry, particularly in the area of product development.
Terms and Conditions of appointment	To be appointed as Whole-time Director for 3 years with effect from 31stMarch, 2023
Remuneration last drawn	N.A.
Remuneration proposed to be paid	Disclosed in Postal Ballot Notice
Date of first appointment on the Board.	20thOctober, 2005
Shareholding in the Company as on March 31, 2023	1200 Equity Shares
Relationship with other Directors / Key Managerial Personnel	Not related to any Director/ Key Managerial Personnel
Number of meetings of the Board attended during the financial year (2022-23).	6
Directorships of other Boards as on March 31, 2023	Nil
Membership /Chairmanship of Committees of other Boards as on March 31, 2023.	NIL