Nova Agritech Limited — AGM Information 2024

Sep 20, 2024

Registered Office: Sy.No.251/A/1., Singannaguda Village Mulugu Mandal, Medak, Siddipet - 502279, Telangana, India

+91 84 5425 3446 • cs@novaagri.in

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CIN : L01119TG2007PLC053901

20[th] September, 2024

To

BSE Limited , National Stock Exchange of India Limited Listing Department, P J Towers, Listing Department, Exchange Plaza, Dalal Street, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 544100 Trading Symbol: NOVAAGRI

SUB: OUTCOME/ PROCEEDINGS OF THE 17[TH ] ANNUAL GENERAL MEETING

Ref: Regulation 30 read with Para 13 of Part A of Schedule III of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Dear Sir/Madam,

With reference to the above-cited subject, we hereby intimate that the 17[th] Annual General Meeting of the Company, was held today, i.e., Friday, 20[th] September, 2024 at 4:15 P.M. (16:15 Hours), through video conferencing (VC) / other audio-visual means (OAVM), in accordance with the General Circular Nos. 14/2020 dated 8 April 2020, 17/2020 dated 13 April 2020, 20/2020 dated 5 May 2020, 02/2021 dated 13 January 2021, 02/2022 dated 5 May 2022, 10/2022 dated 28 December 2022 and 09/2023 dated 25 September 2023, respectively, issued by the Ministry of Corporate Affairs (“MCA”) read with Circular No. SEBI/HO/CFD/PoD-2/P/CIR/2023/4 dated 5 January 2023 and other relevant circulars issued by the Securities and Exchange Board of India (“SEBI”), and relevant provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In this regard, please find enclosed summary of proceedings as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13[th] July, 2023.

Please take the same on record and suitably disseminate it to all concerned.

Thanking you!

For Nova Agritech Limited

NEHA Digitally signed by NEHA SONI Date: 2024.09.20 SONI 18:18:51 +05'30'

Neha Soni

Company Secretary & Compliance Officer

Encls as above

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SUMMARY OF PROCEEDINGS OF THE 17[TH] ANNUAL GENERAL MEETING OF NOVA AGRITECH LIMITED, CONVENED AT 4:15 P.M. (16:15 HOURS) IST ON FRIDAY, 20[TH] SEPTEMBER, 2024, THROUGH VIDEO CONFERENCING (VC)/ OTHER AUDIO-VISUAL MEANS (OAVM).

Directors & KMP present at the meeting:

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S. No. Name Designation
1. Mr. Adabala Seshagiri Rao Chairperson & Independent Director
2. Mr. Ramesh Babu Nemani Independent Director
3. Mr. Kiran Kumar Adapa Independent Director
4. Mrs. Swapna Kandula Independent Director
5. Mrs. Malathi Siripurapu Whole-Time Director
6. Mr. Rajesh Cherukuri Whole-Time Director
7. Mr. Kiran Kumar Atukuri Managing Director
8. Mr. Srinivasa Rao Mandalapu Chief Executive Officer
9. Mr. Kamoji Srinivas Gunupudi Chief Financial Officer
10. Ms. Neha Soni Company Secretary & Compliance Officer
Other Attendees:
S. No. Name Representing
1. Mr. P. S. Rao P. S. Rao & Associates
Secretarial Auditors
2. Mr. M. Ramana Reddy P. S. Rao & Associates
Scrutinizer
3. Mr. P. Venkat Ratnam N S V R & Associates LLP
Statutory Auditors
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Members

Total 36 members were present in the video conference including 4 persons belonging to Promoter and Promoter Group.

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Date, time and venue of the Annual General Meeting (AGM)

The 17[th] Annual General Meeting of the Company was held on Friday, 20[th] September, 2024, through video conferencing (VC) / other audio-visual means (OAVM), deemed to be held at the registered office of the Company, at Sy.No.251/A/1., Singannaguda Village Mulugu Mandal, Medak, Siddipet - 502279, Telangana, India.

The Meeting commenced at 4:15 P.M. (16:15 Hours) IST and concluded at 5:00 P.M. (17:00 Hours) IST.

Brief details of items deliberated

• a) Ms. Neha Soni, Company Secretary & Compliance Officer of the Company welcomed the Shareholders, Board Members and other invitees of the Company to the 17[th] AGM of the Company.

• b) The Company Secretary, apprised the attendees that the Meeting is being held through VC/ OAVM, in compliance with the circulars issued by the Ministry of Corporate Affairs, Government of India, and the Securities and Exchange Board of India and briefed on the e-Voting and voting during the AGM.

• c) Mr. Adabala Seshagiri Rao, Chairperson of the Company, chaired the Meeting. The requisite quorum being present, the Chairperson called the Meeting to order.

• d) The Chairperson addressed the members in the 17[th] AGM of the Company.

• e) Mr. Kiran Kumar Atukuri, Managing Director of the Company, presented a brief insight on the company’s performance and updated the shareholders on the future plans & operational outlook of the Company.

• f) The Board’s Report & Auditors’ Report along with the notice of the Annual General Meeting with annexures, which was already circulated, was taken as read, with permission of the members.

• g) The Company Secretary read out the agenda items of the Notice for the information of the members.

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• h) The following items of business, as set out in the Notice convening the 17[th] Annual General Meeting, were recommended to members for consideration and approval.

Ordinary Business –

Item No. 1: Adoption of Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended 31[st] March, 2024 and the reports of the Board of Director and Auditors thereon.

Item No. 2: To appoint a Director in place of Mr. Kiran Kumar Atukuri (DIN: 08143781) who retires by rotation and being eligible offers himself for re-appointment.

Special Business –

Item No. 3: Re-appointment of Mr. Kiran Kumar Atukuri (DIN: 08143781) as Managing Director of the Company for a period of 3 years.

Item No. 4: Re-appointment of Mrs. Swapna Kandula (DIN: 08719208) as a Non-Executive Independent Director of the Company for a second term of 5 years.

Item No. 5: Approval for payment of Managerial Remuneration to Executive Directors who are Promoters of the Company.

Item No. 6: Ratification of Nova Agritech Limited Share Based Employee Benefit Scheme – 2022 (“the scheme”) and grant of options/SARs/other benefits under the scheme.

Item No. 7: Ratification of extension of benefits under Nova Agritech Limited Share Based Employee Benefit Scheme – 2022 (“the scheme”) to the employees of group company including subsidiary company(ies) or associate company of the Company.

Item No. 8: Ratification of approval for grant of options /SARs/shares/other benefits to the identified employee(s) during any one year, equal to or exceeding one percent of the issued capital of the company at the time of grant under the Scheme.

Item No. 9: Ratification for implementation of “Nova Agritech Limited Share Based Employee Benefit Scheme – 2022” through trust route.

Item No. 10: Ratification of approval of provisioning of money to trust by the Company for implementation of Nova Agritech Limited Share Based Employee Benefit Scheme – 2022.

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Item No. 11: Ratification of Remuneration of Cost Auditors.

Item No. 12: Approval of Material Related Party Transactions for the Year 2024-25.

Item No. 13: Approval of Material Related Party Transactions of the material subsidiary(ies) of the Company for the Year 2024-25.

Manner of approval and results thereof, etc.

• i) The Company Secretary further informed the members, that pursuant to the provisions of Section 108 of the Companies Act, 2013 read with Companies (Management and Administration) Rules, 2014, as amended, and Regulation 44 of the SEBI Listing Regulations, 2015, the Company has arranged the e-voting facility to its members in respect of all the businesses to be transacted at the 17[th] AGM.

• j) The remote e-Voting commenced at 9:00 A.M. on 17[th] September, 2024 and concluded at 5:00 P.M. on 19[th] September, 2024.

• k) The Company Secretary advised the members, who have not cast their vote through remote e-voting facility, may cast their votes in respect of all the resolutions proposed in the notice during the AGM. It was informed that e-voting facility would remain open for next fifteen minutes, to enable those members who have not casted their votes but would like to cast their vote in the additional time.

• l) Further, the attendees were informed that Mr. M Ramana Reddy (CP No. 18415), Practicing Company Secretary from P. S. Rao & Associates, was appointed as the Scrutinizer, to scrutinize the voting through electronic means (i.e., remote e-Voting and voting at the meeting by using electronic system).

• m) The members were informed that the results of e-voting along with the Scrutinizer’s Report shall be submitted to the Stock Exchange and the same shall be placed on the website of the Company and CDSL website as well.

• n) Thereafter, the shareholder(s) who has registered as speakers asked their respective queries in the AGM.

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• o) Then the shareholder(s) queries were attended and answered by Mr. Kiran Kumar Atukuri, Managing Director of the Company.

• p) Thereafter, the meeting concluded with a vote of thanks by Mr. Kiran Kumar Atukuri, Managing Director of the Company, to all the shareholders, Directors and attendees for their participation in the Meeting.

The meeting concluded at 5:00 P.M. (17:00 Hours) IST. The e-voting facility was kept open for next fifteen minutes to enable those members who have not casted their votes but would like to cast their vote in the additional time.

For Nova Agritech Limited

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KIRAN Digitally signed by KIRAN KUMAR
KUMAR ATUKURI
ATUKURI Date: 2024.09.20 18:18:27 +05'30'
Kiran Kumar Atukuri
Managing Director
DIN: 08143781
Date: 20 [th] September, 2024
Place: Singannaguda
Note:
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• The Company will separately intimate the results of e-Voting to the stock exchange within the prescribed time.

• This document does not constitute minutes of the Annual General Meeting of the Company.

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