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P.B.M. Polytex Ltd. — AGM Information 2022
Sep 28, 2022
61511_rns_2022-09-28_b51c8af5-e3ba-4417-888f-f97393790ef7.pdf
AGM Information
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PBM POLYTEX LTD. CIN :L17110GJ1919PLC000495 REGD. OFFICE: OPP. STATION, POST PETLAD – 388450, DIST: ANAND, GUJARAT, PHONE: 224001, 224003, STORES: 224005, SALES: 224006, FAX (02697) 224009, E-Mail: [email protected]
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THROUGH BSE.LISTING CENTRE
28.09.2022
To, The General Manager
M/s BSE Limited, Department of Corporate Services, Floor 25, P. J. Towers, Dalal Street, Mumbai – 400001
– Company Code: BSE Limited, Listing Code 514087
Sir / Madam,
SUB: PURSUANT TO REGULATION 30 OF SEBI (LODR) REGULATIONS, - 2015 PROCEEDINGS OF THE 103[RD] ANNUAL GENERAL MEETING OF THE COMPANY HELD ON 28[TH] SEPTEMBER, 2022
Pursuant to provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), we hereby submit the Proceedings of the 103[rd] Annual General Meeting (‘AGM') of the Company held on Wednesday, September 28, 2022 at 11:00 a.m. through Video Conferencing (‘VC’) / Other Audio Visual Means (‘OAVM’) ), in compliance with the MCA Circular No. 20/2020 dated 5[th] May, 2020 read with Circular Nos. 14/2020 dated 8[th] April, 2020, 17/2020 dated 13th April, 2020 and 02/2021 dated 13[th] January, 2021 and SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/79 dated 12th May, 2020, Circular No. SEBI/HO/CFD/CMD2/CIR/P/2021/11 dated 15[th] January, 2021 and SEBI/HO/CFD/CMD2/CIR/P/2022/62 dated 13[th] May, 2022.
The Company had provided the facility of voting through electronic means on all the resolutions contained in the notice convening the AGM, through the e-voting services provided by National Securities Depository Limited (‘NSDL’). The remote e-voting facilities were open from September 25, 2022 9:00 AM IST up to September 27, 2021 5:00 PM IST. Further, the Company had provided the e- voting facility to vote at the AGM and additional 15 (Fifteen) minutes after the conclusion of the AGM.
BARODA OFFICE: 8[TH] FLOOR, “RAMAKRISHNA CHAMBERS”, PRODUCTIVITY ROAD, ALKAPURI, BARODA – 390 007. TELEPHONE NO. : 2333587, 2320053, FAX NO. (0265) 2338979 E-Mail: [email protected], Website: www.pbmpolytex.com
PBM POLYTEX LTD. CIN :L17110GJ1919PLC000495 REGD. OFFICE: OPP. STATION, POST PETLAD – 388450, DIST: ANAND, GUJARAT, PHONE: 224001, 224003, STORES: 224005, SALES: 224006, FAX (02697) 224009, E-Mail: [email protected]
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Details of voting results as required under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 will be submitted separately.
You are requested to kindly take the same on record.
Thanking you, Yours faithfully, For PBM Polytex Limited
GOPAL Digitally signed by GOPAL PATODI PATODIA Date: A 2022.09.28 16:26:16 +05'30'
Gopal Patodia Managing Director (DIN: 00014247)
BARODA OFFICE: 8[TH] FLOOR, “RAMAKRISHNA CHAMBERS”, PRODUCTIVITY ROAD, ALKAPURI, BARODA – 390 007. TELEPHONE NO. : 2333587, 2320053, FAX NO. (0265) 2338979 E-Mail: [email protected], Website: www.pbmpolytex.com
PBM POLYTEX LTD. CIN :L17110GJ1919PLC000495 REGD. OFFICE: OPP. STATION, POST PETLAD – 388450, DIST: ANAND, GUJARAT, PHONE: 224001, 224003, STORES: 224005, SALES: 224006, FAX (02697) 224009, E-Mail: [email protected]
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Proceedings of 103[rd] Annual General Meeting of the Company held on 28[th] September, 2022
The 103[rd] Annual General Meeting (“the meeting”) of the members of PBM Polytex Limited was held on Wednesday, the 28[th] September, 2022 at 11:00 A. M. through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”).
- Directors present through Video Conference:
Shri Mohan Kumar Patodia Managing Director & C.F.O Shri Gopal Patodia Managing Director Shri Hari Prasad Siotia Non-Executive Director Shri Ashok Pandit Independent Director Shri Rakesh Todi Independent Director Shri Chirayush Patel Independent Director Ms. Amishal Modi Additional Director
- In Attendance:
| Shri Mohan Kumar Patodia | Chief Financial Officer |
|---|---|
| Shri Amit Patodia | Chief Executive Officer |
| Ms. Swati Sharda | Company Secretary |
| Shri Sushil Samdani | Secretarial Auditor & Scrutinizers for e-voting |
| (Samdani Shah & Kabra) | |
| Shri Rinkesh Shah | Statutory Auditor (M/s. Rinkesh Shah & Co.) |
| Shri Chirah Shah | Tax Auditor (M/s. M.N. Shah & Co.) |
| Shri Chirag Shah | (Proposed to be appointed as Statutory |
| Auditors) | |
| Shri Vikash Patodia | Senior President |
The Chairman, Shri Krishan Kumar Patodia, had sought leave of absence and therefore, on the proposal of shareholders, the Managing Director, Shri Gopal Patodia, occupied the Chair. The Chairman of Audit Committee and Stakeholders Relationship Committee, Shri Ashok Pandit, was also present.
The Company has 4672 shareholders holding 68,79,020 shares as on 16.09.2022 (Cut-off date for the purpose of entitlement of E-Voting facility). There being 33 members present in person, though VC, including representatives, if any, the quorum was in order. The Chairman informed that the Participation of Members through VC is being reckoned for the purpose of Quorum as per the Circulars issued by the Ministry of Corporate Affairs (MCA) and Section 103 of the Companies Act, 2013 (the Act).
BARODA OFFICE: 8[TH] FLOOR, “RAMAKRISHNA CHAMBERS”, PRODUCTIVITY ROAD, ALKAPURI, BARODA – 390 007. TELEPHONE NO. : 2333587, 2320053, FAX NO. (0265) 2338979 E-Mail: [email protected], Website: www.pbmpolytex.com
PBM POLYTEX LTD. CIN :L17110GJ1919PLC000495 REGD. OFFICE: OPP. STATION, POST PETLAD – 388450, DIST: ANAND, GUJARAT, PHONE: 224001, 224003, STORES: 224005, SALES: 224006, FAX (02697) 224009, E-Mail: [email protected]
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The Managing Director, Shri Gopal Patodia addressed the shareholders on Financial Performance of the Company, current economic situations and problems of Spinning Units and its impacts.
The Chairman thereafter declared that the copies of audited financial statements for the year ended March 31, 2022, Directors’ Report and Auditors’ reports had been emailed, to all the Members whose email ID are registered in the Company’s Records and that the original documents along with the Statutory Registers and Secretarial Auditors’ Report were available for inspection through electronic mode. The Chairman further informed the shareholders that e-voting facility had been provided to all Members to vote electronically, from 25[th] September, 2022 at 9:00 a.m. to 27[th] September, 2022 at 5:00 p.m., on all the resolutions set forth in the Notice of AGM and that there would be no voting by show of hands at the meeting. Members who were present at the AGM and had not cast their votes electronically prior to the date of AGM, were provided an opportunity to cast their votes electronically during the AGM. Members who have casted their vote by remote e-voting prior to the AGM, have attended the AGM but were not entitled to cast their vote again.
He further informed that M/s. Samdani Shah & Kabra, Practicing Company Secretaries, Vadodara were appointed as scrutinizer for the purpose of scrutinizing the remote e-voting process.
Thereafter, Chairman informed the Members that there were no qualifications, observations or comments on financial transactions or matters, which had any adverse effect on the functioning of the Company. Accordingly, no part of Auditor’s Reports including Secretarial Auditor’s Report were required to be read at the Meeting.
Thereafter, the Chairman informed the Members that the Notice convening 103[rd] AGM was already circulated to all the Members and the same can be taken as read with the permission of the members.
Thereafter, Shri Gopal Patodia, Chairman, invited the members to raise their queries, if any / on the financial results or any agenda item.
Thereafter, the following resolutions were put to vote electronically as ordinary resolution/special resolution.
BARODA OFFICE: 8[TH] FLOOR, “RAMAKRISHNA CHAMBERS”, PRODUCTIVITY ROAD, ALKAPURI, BARODA – 390 007. TELEPHONE NO. : 2333587, 2320053, FAX NO. (0265) 2338979 E-Mail: [email protected], Website: www.pbmpolytex.com
PBM POLYTEX LTD. CIN :L17110GJ1919PLC000495 REGD. OFFICE: OPP. STATION, POST PETLAD – 388450, DIST: ANAND, GUJARAT, PHONE: 224001, 224003, STORES: 224005, SALES: 224006, FAX (02697) 224009, E-Mail: [email protected]
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- Ordinary Resolution:
-
To receive, consider and adopt the Financial Statements including Audited Balance Sheets as at 31st March 2022, Statements of Profit and Loss (along with Audited Consolidated Financial Statements) and Cash Flow Statements for the year ended on that date together with the Directors’ Report and Auditors’ Reports thereon.
-
To declare dividend on equity shares for the Financial Year ended on 31st March, 2022.
-
To appoint a Director in place of Shri Hari Prasad Siotia (DIN: 00015103) as director who retires by rotation and being eligible, offers himself for reappointment.
-
To appoint a Director in place of Shri Mohan Kumar Patodia (DIN: 00035381) as director who retires by rotation and being eligible, offers himself for re-appointment
-
To appoint Statutory Auditors of the Company and to fix their remuneration
-
To ratify the remuneration payable to the Cost Auditor for the financial year 2022-23
- Special Resolution:
-
To approve revision in remuneration payable to Shri Amit Patodia, Senior President cum Chief Executive Officer
-
To reappoint Shri Ashok Pandit (DIN: 08132980) as an Independent Director of the Company for the second term of 5 consecutive years
-
To appoint Ms. Amishal Modi (DIN: 09661312) as an Independent Director of the Company to hold office for a term of five consecutive years
-
To approve the revision through increase in the remuneration payable to Shri Gopal Patodia (DIN: 00014247) as Managing Director of the company.
-
To approve the revision through increase in the terms of remuneration payable to Shri Mohan Kumar Patodia (DIN: 00035381) as a Managing director of the company.
BARODA OFFICE: 8[TH] FLOOR, “RAMAKRISHNA CHAMBERS”, PRODUCTIVITY ROAD, ALKAPURI, BARODA – 390 007. TELEPHONE NO. : 2333587, 2320053, FAX NO. (0265) 2338979 E-Mail: [email protected], Website: www.pbmpolytex.com
PBM POLYTEX LTD. CIN :L17110GJ1919PLC000495 REGD. OFFICE: OPP. STATION, POST PETLAD – 388450, DIST: ANAND, GUJARAT, PHONE: 224001, 224003, STORES: 224005, SALES: 224006, FAX (02697) 224009, E-Mail: [email protected]
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- ORDINARY BUSINESS:
-
To receive, consider and adopt the Financial Statements including Audited Balance Sheets as at 31st March 2022, Statements of Profit and Loss (along with Audited Consolidated Financial Statements) and Cash Flow Statements for the year ended on that date together with the Directors’ Report and Auditors’ Reports thereon.
-
To declare dividend on equity shares for the Financial Year ended on 31st March, 2022.
-
To appoint a Director in place of Shri Hari Prasad Siotia (DIN: 00015103) as director who retires by rotation and being eligible, offers himself for reappointment.
-
To appoint a Director in place of Shri Mohan Kumar Patodia (DIN: 00035381) as director who retires by rotation and being eligible, offers himself for re-appointment
-
To appoint Statutory Auditors of the Company and to fix their remuneration
- SPECIAL BUSINESS:
-
To ratify the remuneration payable to the Cost Auditor for the financial year 2022-23
-
To approve revision in remuneration payable to Shri Amit Patodia, Senior President cum Chief Executive Officer
-
To reappoint Shri Ashok Pandit (DIN: 08132980) as an Independent Director of the Company for the second term of 5 consecutive years
-
To appoint Ms. Amishal Modi (DIN: 09661312) as an Independent Director of the Company to hold office for a term of five consecutive years
-
To approve the revision through increase in the remuneration payable to Shri Gopal Patodia (DIN: 00014247) as Managing Director of the company.
-
To approve the revision through increase in the terms of remuneration payable to Shri Mohan Kumar Patodia (DIN: 00035381) as a Managing director of the company.
BARODA OFFICE: 8[TH] FLOOR, “RAMAKRISHNA CHAMBERS”, PRODUCTIVITY ROAD, ALKAPURI, BARODA – 390 007. TELEPHONE NO. : 2333587, 2320053, FAX NO. (0265) 2338979 E-Mail: [email protected], Website: www.pbmpolytex.com
PBM POLYTEX LTD. CIN :L17110GJ1919PLC000495 REGD. OFFICE: OPP. STATION, POST PETLAD – 388450, DIST: ANAND, GUJARAT, PHONE: 224001, 224003, STORES: 224005, SALES: 224006, FAX (02697) 224009, E-Mail: [email protected]
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The Chairman thanked all for attending the Meeting and the meeting then after was concluded at 11:25 A.M. on the same day.
The e-voting facility was kept open for the next 15 minutes after completion of the meeting to enable the members to cast their vote.
Kindly acknowledge.
Thanking you, Yours faithfully, For PBM Polytex Limited
GOPAL Digitally signed by GOPAL PATODIA PATODIA Date: 2022.09.28 16:26:54 +05'30'
(Gopal Patodia) Managing Director (DIN: 00014247)
BARODA OFFICE: 8[TH] FLOOR, “RAMAKRISHNA CHAMBERS”, PRODUCTIVITY ROAD, ALKAPURI, BARODA – 390 007. TELEPHONE NO. : 2333587, 2320053, FAX NO. (0265) 2338979 E-Mail: [email protected], Website: www.pbmpolytex.com