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Pidilite Industries Ltd. — AGM Information 2020
Sep 30, 2020
61002_rns_2020-09-30_b2f2cf76-ef08-4ab0-ac3d-589a541fb432.pdf
AGM Information
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30[��] S��������, 2020
T�� S�����a�� T�� S�����a�� BSE L��. Na����a� S���� E���a��� �� I���a L��. C�����a�� R��a�������� D���., E���a��� P�a�a, P��� ��. C/1, G B����, 14[��] �����, P. J. T����, Ba���a-K���a C������, Da�a� S�����, F��� Ba���a (E), M���a� - 400 001 M���a� - 400 051 S�ock Code � 500331 S�ock Code - PIDILITIND
D�a� S��,
S�b: Ann�al Gene�al Mee�ing Min��e�
D�a� S��/Ma�a�,
P��a�� ���� �������� �������� ���� �� ��� M������ �� ��� ����������� �� ��� 51[��] A���a� G����a� M������ ���� �� 10[��] S��������, 2020 ��� ���� ������.
T�a����� Y��,
Y���� �a��������,
Fo� Pidili�e Ind����ie� Limi�ed
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P�nee� Ban�al Com�an� Sec�e�a��
E��� a� a����
CIN : L24100MH1969PLC014336
The min��e� of �he Fif�� Fi��� Ann�al Gene�al Mee�ing of �he Membe�� of M/�. Pidili�e Ind����ie� Limi�ed held �h�o�gh Video Confe�encing (VC)/ O�he� A�dio Vi��al Mean� (OAVM) on Th���da�, �he 10[�h] Sep�embe�, 2020. The mee�ing commenced a� 03.00 p.m. and concl�ded a� 04.23 p.m. The mee�ing �a� deemed �o be held a� �he Regi��e�ed office of �he Compan� a� Regen� Chambe��, 7[�h] Floo�, Jamnalal Bajaj Ma�g, 208, Na�iman Poin�, M�mbai 400 021.
PRESENT THROUGH VIDEO CONFERENCE / OTHER AUDIO VISUAL MEANS:
| Sh�i M. B. Pa�ekh | - Chai�man & Membe� |
|---|---|
| Sh�i A. B. Pa�ekh | - Whole Time Di�ec�o� & Membe� |
| Sh�i A. N. Pa�ekh | - Whole Time Di�ec�o� & Membe� |
| Sh�i Bha�a� P��i | - Managing Di�ec�o� & Membe� |
| Sh�i B. S. Meh�a | - Independen� Di�ec�o�, Membe� and Chai�man of A�di� |
| Commi��ee, Nomina�ion and Rem�ne�a�ion | |
| Commi��ee and Ri�k Managemen� Commi��ee | |
| Sh�i Debab�a�a G�p�a | - Whole Time Di�ec�o� |
| Sm�. Mee�a Shanka� | - Independen� Di�ec�o� |
| Sh�i N. K. Pa�ekh | - Vice Chai�man & Membe� |
| Sh�i Pi���h Pande� | - Independen� Di�ec�o� |
| Sh�i Sanjee� Aga | - Independen� Di�ec�o�, Membe� and Chai�man of |
| S�akeholde�� Rela�ion�hip Commi��ee | |
| Sh�i Uda� Khanna | - Independen�Di�ec�o� & Membe� |
| Sh�i Vinod Da�a�i | - Independen� Di�ec�o� |
| IN ATTENDANCE THROUGH VIDEO CONFERENCE/ OTHER AUDIO VISUAL | |
| MEANS: | |
| Sh�i P�adip Menon | - Chief Financial Office� |
| Sh�i P�nee� Ban�al | - Compan� Sec�e�a�� & Membe� |
| Sh�i S�nil B��de | - Vice P�e�iden� - Dome��ic Acco�n�� |
| Sm�. Mani�ha She��� | - Addi�ional Compan� Sec�e�a�� & Membe� |
| Sh�i Na�e�h Jain | - Pa��ne� of Deloi��e Ha�kin� & Sell� LLP, S�a���o�� |
| A�di�o�� | |
| Sh�i M M She�h and | - f�om M. M. She�h & Co., Sec�e�a�ial A�di�o� & |
| Sm�. Ami She�h | Membe� |
To�al 158 membe�� incl�ding �ho�e men�ioned abo�e �e�e p�e�en�.
Da�e of en��� in min��e� book 28-09-2020
Sh�i M B Pa�ekh, Chai�man, chai�ed �he mee�ing.
The Chai�man �elcomed all �he Di�ec�o�� and Membe�� p�e�en� a� �he 51[��] Ann�al Gene�al Mee�ing (AGM) of �he Compan�. He men�ioned �ha� �he AGM �a� being held fo� �he fi��� �ime �h�o�gh Video Confe�encing / O�he� A�dio Vi��al Mean� facili��. He al�o ��a�ed �ha� he �a� a��ending �he Mee�ing f�om M�mbai. The Chai�man �hen a�ked �he Compan� Sec�e�a��, Sh�i P�nee� Ban�al �o elabo�a�e on applicable legal p�o�i�ion� fo� holding �hi� AGM.
Sh�i P�nee� Ban�al, info�med �he Membe�� �ha� d�e �o �he con�in�ing COVID-19 pandemic, �he 51[��] Ann�al Gene�al Mee�ing (AGM) of �he Compan� �a� being cond�c�ed �h�o�gh Video Confe�encing (VC)/ O�he� A�dio Vi��al Mean� (OAVM) facili�� �i�ho�� �he ph��ical p�e�ence of �he Membe�� in acco�dance �i�h �he applicable p�o�i�ion� of Companie� Ac�, 2013 �ead �i�h �he R�le� i���ed �he�e�nde� and �he Sec��i�ie� and E�change Boa�d of India [SEBI] (Li��ing Obliga�ion� and Di�clo���e Req�i�emen��) Reg�la�ion�, 2015 and ci�c�la�� i���ed b� �he Mini���� of Co�po�a�e
Affai�� and SEBI f�om �ime �o �ime in �hi� �ega�d. The deemed �en�e of �hi� mee�ing �hall be �he Regi��e�ed Office of �he Compan�.
He al�o info�med �he Membe�� �ha� p����an� �o �he p�o�i�ion� of Sec�ion 108 of �he Companie� Ac�, 2013, R�le� i���ed �he�e�nde� and Reg�la�ion 44 of SEBI (Li��ing Obliga�ion� and Di�clo���e Req�i�emen��) Reg�la�ion�, 2015, �he Compan� had p�o�ided e-�o�ing facili�� �o �he membe�� �o e�e�ci�e �hei� �igh� �o �o�e on �he �e�ol��ion� p�opo�ed �o be pa��ed a� �he AGM �h�o�gh elec��onic �o�ing ����em p�o�ided b� Na�ional Sec��i�ie� Depo�i�o�� Limi�ed (NSDL), p�io� �o �he AGM (�emo�e e-�o�ing).
The �emo�e e-�o�ing pe�iod �hich had commenced on S�nda�, 6[�h] Sep�embe�, 2020 a� 9.00 a.m. ended on Wedne�da�, 9[�h] Sep�embe�, 2020 a� 5.00 p.m and �he Membe�� �ho had no� e�e�ci�ed �hei� �o�e ea�lie�, co�ld al�o �o�e d��ing �he AGM. He f���he� info�med �ha� �he Chai�man �ill anno�nce commencemen� of e-�o�ing pla�fo�m �hich �hall �emain open �n�il 15 min��e� af�e� clo���e of �he mee�ing. He in�i�ed Membe��� a��en�ion �o �he �pda�ed AGM no�ice elec��onicall� �en� �o all �he Membe�� of �he Compan� and al�o placed on �eb�i�e of S�ock E�change�, NSDL and Compan� �ega�ding mino� co��ec�ion� in �he e�plana�o�� ��a�emen� �o �e�ol��ion no. 8 fo� appoin�men� of Sh�i Debab�a�a G�p�a a� Whole-�ime Di�ec�o�.
He f���he� info�med �he Membe�� �ha� �he Compan� had �aken all fea�ible ��ep� �o en���e �ha� �he �ha�eholde�� �e�e p�o�ided an oppo���ni�� �o pa��icipa�e in �hi� AGM and �o�e. The de�ailed in����c�ion� fo� �peake�� and pa��icipan�� had been p�o�ided in �he no�ice of AGM. He al�o info�med �ha� �he facili�� of appoin�ing a p�o�� a� �he mee�ing �a� no� a�ailable a� pe� �he MCA Ci�c�la�. F���he�, he men�ioned �ha� �he Compan� had �ecei�ed ce��ified copie� of �e�ol��ion� f�om bod� co�po�a�e� �ho �e�e membe�� �/� 113 of �he Companie� Ac�, 2013 a��ho�i�ing �hei� �ep�e�en�a�i�e� �o a��end and �o�e a� �he mee�ing.
The�eaf�e� �he Compan� Sec�e�a�� �eq�e��ed �he Chai�man �o �ake cha�ge of �he p�oceeding� of �he mee�ing.
Af�e� confi�ma�ion of �he q�o��m, �he Chai�man in��od�ced all �he Di�ec�o�� �ho �e�e a��ending �he AGM �h�o�gh VC, ��a�ing �hei� �e�pec�i�e po�i�ion�/de�igna�ion� in �he Compan� and �he place f�om �he�e �he� �e�e a��ending �he AGM. He al�o men�ioned �ha� apa�� f�om Di�ec�o��, �he CFO, S�a���o�� A�di�o� and Sec�e�a�ial A�di�o�, �e�e al�o pa��icipa�ing in �he AGM �h�o�gh VC.
The Chai�man �he�eaf�e� anno�nced �he commencemen� of e-�o�ing a� �he AGM �hich had been p�o�ided b� NSDL.
He �hen ��a�ed �ha� �he No�ice con�ening �he mee�ing a� �ell a� Di�ec�o��� Repo��, �e�e being �aken a� �ead a� �he �ame had al�ead� been ci�c�la�ed �o all Membe��. Since �he�e �e�e no q�alifica�ion�/ ad�e��e �ema�k� in �he S�a���o�� A�di�o��� Repo�� and Sec�e�a�ial A�di�o��� Repo��, �he� �e�e al�o �aken a� �ead.
F���he�, he men�ioned �ha� �he �egi��e�� and doc�men��, a� �eq�i�ed �nde� �he p�o�i�ion� of �he Companie� Ac�, 2013 and ESOP ce��ifica�e i���ed b� S�a���o�� A�di�o��, had been made a�ailable fo� online in�pec�ion.
The Chai�man �hen add�e��ed �he Membe�� and deli�e�ed hi� �peech �hich incl�ded highligh�� on b��ine�� pe�fo�mance, financial�, o��look, e�c. Af�e� hi� �peech, �he Chai�man placed befo�e �he mee�ing �he follo�ing 10 �e�ol��ion� a� con�ained in �he No�ice da�ed 17[�h] J�ne, 2020 calling �he 51[��] Ann�al Gene�al Mee�ing fo� Membe�� app�o�al. He b�iefed �he membe�� abo�� �he objec�i�e� and implica�ion� of �he �e�ol��ion� a� ��a�ed in �he e�plana�o�� ��a�emen� a��ached �o �he AGM No�ice.
ORDINARY BUSINESS:
1. ORDINARY RESOLUTION FOR ADOPTION OF FINANCIAL STATEMENTS:
�RESOLVED THAT �he A�di�ed Financial S�a�emen�� con�i��ing of Balance Shee�, P�ofi� and Lo�� Acco�n�, S�a�emen� of Change� in Eq�i��, Ca�h Flo� S�a�emen� and no�e� fo�ming pa�� �he�eof �oge�he� �i�h �he �epo��� of Boa�d of Di�ec�o�� and A�di�o�� �he�eon fo� �he �ea� ended 31[��] Ma�ch, 2020 and al�o a�di�ed con�olida�ed financial ��a�emen�� of �he Compan� �oge�he� �i�h �he �epo�� of A�di�o�� fo� �he �ea� ended 31[��] Ma�ch, 2020, be and a�e he�eb� app�o�ed and adop�ed.�
2. ORDINARY RESOLUTION FOR CONFIRMATION OF INTERIM DIVIDEND ON EQUITY SHARES, AS FINAL DIVIDEND FOR THE FINANCIAL YEAR 2019-20:
�RESOLVED THAT �he in�e�im di�idend of R�. 7/- pe� eq�i�� �ha�e of Re.1/- each on 50,80,11,130 Eq�i�� Sha�e� of Re. 1/- each ab�o�bing R�. 355.61 c�o�e� (e�cl�ding di�idend di���ib��ion �a�) o�� of c���en� �ea��� p�ofi�, �hich �a� decla�ed and paid d��ing �he Financial Yea�, be and i� he�eb� con�ide�ed a� �he final di�idend fo� �he Financial �ea� 2019-20.�
3. ORDINARY RESOLUTION FOR RE-APPOINTMENT OF SHRI A B PAREKH AS A DIRECTOR:
�RESOLVED THAT Sh�i A B Pa�ekh (DIN: 00035317), a Di�ec�o� �ho �e�i�e� b� �o�a�ion and being eligible ha� offe�ed him�elf fo� �e-appoin�men�, be and i� he�eb� �e-appoin�ed a� a Di�ec�o� of �he Compan� liable �o �e�i�e b� �o�a�ion.�
4. SPECIAL RESOLUTION FOR RE-APPOINTMENT OF SHRI N K PAREKH AS A
DIRECTOR:
�RESOLVED THAT p����an� �o �he p�o�i�ion� of Sec�ion 152 and o�he� applicable p�o�i�ion� of �he Companie� Ac�, 2013 and �he R�le� f�amed �he�e�nde� and R�le 17(1A) of Sec��i�ie� and E�change Boa�d of India (Li��ing Obliga�ion� and Di�clo���e Req�i�emen��) Reg�la�ion�, 2015 (incl�ding an� ��a���o�� modifica�ion(�) o� �e-enac�men� �he�eof fo� �he �ime being in fo�ce) Sh�i N K Pa�ekh (DIN: 00111518), �ho �e�i�e� b� �o�a�ion a� �hi� mee�ing and being eligible, offe�� him�elf fo� �e-appoin�men�, be and i� he�eb� �e-appoin�ed a� a Di�ec�o� of �he Compan�, liable �o �e�i�e b� �o�a�ion.�
SPECIAL BUSINESS:
5. ORDINARY RESOLUTION FOR RE-APPOINTMENT OF SHRI BHARAT PURI AS THE MANAGING DIRECTOR OF THE COMPANY FOR A FURTHER PERIOD OF FIVE YEARS W.E.F. 10[th] APRIL, 2020.
�RESOLVED THAT p����an� �o �he p�o�i�ion� of Sec�ion� 196, 197 and 203 �ead �i�h Sched�le V and o�he� applicable p�o�i�ion�, if an�, of �he Companie� Ac�, 2013 (�he Ac�) and �he Companie� (Appoin�men� and Rem�ne�a�ion of Manage�ial Pe��onnel) R�le�, 2014 (incl�ding an� ��a���o�� modifica�ion(�) o� �e-enac�men� �he�eof fo� �he �ime being in fo�ce) and p����an� �o �he �ecommenda�ion of Nomina�ion and Rem�ne�a�ion Commi��ee, app�o�al of �he membe�� of �he Compan� be and i� he�eb� acco�ded �o �he �e-appoin�men� of Sh�i Bha�a� P��i (DIN: 02173566) a� �he Managing Di�ec�o� of �he Compan�, fo� a f���he� pe�iod of 5 (fi�e) �ea�� �i�h effec� f�om 10[�h] Ap�il 2020, on �he �e�m� and condi�ion� and pa�men� of �em�ne�a�ion a� �e� o�� in �he E�plana�o�� S�a�emen� a��ached �o �he No�ice.�
�RESOLVED FURTHER THAT Sh�i Bha�a� P��i, Managing Di�ec�o� be in cha�ge of �he gene�al managemen� of �he Compan� �i�hin �he p�o�i�ion� of A��icle� of
A��ocia�ion b�� ��bjec� �o ��pe�in�endence, con��ol and di�ec�ion of �he Boa�d of Di�ec�o��.�
�RESOLVED FURTHER THAT Sh�i Bha�a� P��i �ill be a Ke� Manage�ial Pe��onnel of �he Compan� a� pe� �he p�o�i�ion� of Sec�ion 203(1)(i) of �he Ac�.�
�RESOLVED FURTHER THAT Sh�i Bha�a� P��i �ill be a non �o�a�ional Di�ec�o� and �hall no� be liable �o �e�i�e b� �o�a�ion d��ing hi� �e�m a� �he Managing Di�ec�o�.�
�RESOLVED FURTHER THAT �he Managing Di�ec�o� �hall be en�i�led �o �eimb���emen� of all e�pen�e� inc���ed fo� �he p��po�e of �he b��ine�� of �he Compan� and �hall no� be en�i�led �o an� �i��ing fee� fo� a��ending mee�ing of �he Boa�d of Di�ec�o�� and Commi��ee(�) �he�eof.�
�RESOLVED FURTHER THAT �he Boa�d be and i� he�eb� a��ho�i�ed �o al�e� and �a�� �e�m� of appoin�men� and �em�ne�a�ion �o a� no� �o e�ceed �he limi�� �pecified in Sched�le V and o�he� applicable Sec�ion� of �he Ac� o� an� ��a���o�� modifica�ion� �he�eof a� ma� be ag�eed �o b� �he Boa�d of Di�ec�o�� and Sh�i Bha�a� P��i.�
�RESOLVED FURTHER THAT �he �o�al �em�ne�a�ion b� �a� of �ala��, pe�q�i�i�e�, allo�ance� and commi��ion pa�able �o Sh�i Bha�a� P��i, Managing Di�ec�o�, in an� Financial Yea� �hall no� e�ceed 5% of �he Ne� P�ofi� of �ha� Financial Yea� a� pe� Sec�ion 197, Sched�le V and o�he� applicable p�o�i�ion� of �he Ac�.�
�RESOLVED FURTHER THAT �he Boa�d be and i� he�eb� a��ho�i�ed �o do all ��ch ac��, deed� and �hing� and e�ec��e all ��ch doc�men��, in����men�� and ��i�ing� a� ma� be �eq�i�ed and �o delega�e all o� an� of i�� po�e�� he�ein confe��ed �o an� Commi��ee of Di�ec�o��.�
6. ORDINARY RESOLUTION FOR RE-APPOINTMENT OF SHRI A N PAREKH AS A WHOLE TIME DIRECTOR OF THE COMPANY FOR A FURTHER PERIOD OF FIVE YEARS W.E.F. 1[st] JULY 2020
�RESOLVED THAT p����an� �o �he p�o�i�ion� of Sec�ion� 196, 197, Sched�le V and o�he� applicable p�o�i�ion�, if an�, of �he Companie� Ac�, 2013 (�he Ac�) �ead �i�h Companie� (Appoin�men� and Rem�ne�a�ion of Manage�ial Pe��onnel) R�le�, 2014 (incl�ding an� ��a���o�� modifica�ion(�) o� �e-enac�men� �he�eof fo� �he �ime being in fo�ce) and p����an� �o �he �ecommenda�ion of Nomina�ion and Rem�ne�a�ion Commi��ee, app�o�al of �he membe�� of �he Compan� be and i� he�eb� acco�ded �o �he �e-appoin�men� of Sh�i A N Pa�ekh (DIN: 00111366), a� a Whole Time Di�ec�o� of �he Compan�, fo� a f���he� pe�iod of 5 (fi�e) �ea�� �i�h effec� f�om 1[��] J�l� 2020, �ho�e pe�iod of office i� liable �o de�e�mina�ion b� �e�i�emen� of Di�ec�o�� b� �o�a�ion, on �he �e�m� and condi�ion� and pa�men� of �em�ne�a�ion a� �e� o�� in �he E�plana�o�� S�a�emen� a��ached �o �he No�ice.�
�RESOLVED FURTHER THAT Sh�i A N Pa�ekh, Whole Time Di�ec�o� �hall �o�k �nde� �he ��pe�in�endence, con��ol and di�ec�ion of �he Boa�d of Di�ec�o��.�
�RESOLVED FURTHER THAT Sh�i A N Pa�ekh, Whole Time Di�ec�o� �hall be en�i�led �o �eimb���emen� of all e�pen�e� inc���ed fo� �he p��po�e of b��ine�� of �he Compan� and �hall no� be en�i�led �o an� �i��ing fee� fo� a��ending mee�ing� of �he Boa�d of Di�ec�o�� and Commi��ee(�) �he�eof.�
�RESOLVED FURTHER THAT �he Boa�d be and i� he�eb� a��ho�i�ed �o al�e� and �a�� ��ch �e�m� and condi�ion� of �e-appoin�men� and �em�ne�a�ion �o a� �o no� �o e�ceed �he limi�� �pecified in Sched�le V and o�he� applicable �ec�ion� of �he
Ac� o� an� ��a���o�� modifica�ion� �he�eof a� ma� be ag�eed �o b� �he Boa�d of Di�ec�o�� and Sh�i A N Pa�ekh.�
�RESOLVED FURTHER THAT �he �o�al �em�ne�a�ion b� �a� of �ala��, pe�q�i�i�e� and allo�ance� and commi��ion� pa�able �o Sh�i A N Pa�ekh, Whole Time Di�ec�o�, in an� Financial Yea� �hall no� e�ceed 5% of �he Ne� P�ofi� of �ha� Financial Yea� a� pe� Sec�ion 197, Sched�le V and o�he� applicable p�o�i�ion� of �he Ac�.�
�RESOLVED FURTHER THAT �he Boa�d be and i� he�eb� a��ho�i�ed �o do all ��ch ac��, deed� and �hing� and e�ec��e all ��ch doc�men��, in����men�� and ��i�ing� a� ma� be �eq�i�ed and �o delega�e all o� an� of i�� po�e�� he�ein confe��ed �o an� Commi��ee of Di�ec�o��.�
7. ORDINARY RESOLUTION FOR APPOINTMENT OF SHRI DEBABRATA GUPTA AS A DIRECTOR OF THE COMPANY
�RESOLVED THAT p����an� �o �he p�o�i�ion� of Sec�ion 152 and all o�he� applicable p�o�i�ion� if an�, of �he Companie� Ac�, 2013 (�he Ac�) and Companie� (Appoin�men� and Q�alifica�ion of Di�ec�o��) R�le�, 2014 (incl�ding an� ��a���o�� modifica�ion(�) o� �e-enac�men� �he�eof fo� �he �ime being in fo�ce) Sh�i Debab�a�a G�p�a (DIN: 01500784) �ho �a� appoin�ed a� an Addi�ional Di�ec�o� of �he Compan� p����an� �o �he �ecommenda�ion of Nomina�ion and Rem�ne�a�ion Commi��ee, in �e�m� of Sec�ion 161 of �he Ac� b� �he Boa�d of Di�ec�o�� �i�h effec� f�om 1[�� ] Ma�ch 2020 and hold� office �p�o �he da�e of �hi� Ann�al Gene�al Mee�ing and in �e�pec� of �hom �he Compan� ha� �ecei�ed a no�ice in ��i�ing f�om a membe� �nde� Sec�ion 160 of �he Ac� p�opo�ing hi� candida���e fo� �he office of Di�ec�o� of �he Compan�, be and i� he�eb� appoin�ed a� a Di�ec�o� of �he Compan�, �ho�e pe�iod of office �hall be liable �o de�e�mina�ion b� �e�i�emen� of Di�ec�o�� b� �o�a�ion.�
8. ORDINARY RESOLUTION FOR APPOINTMENT OF SHRI DEBABRATA GUPTA AS A WHOLE TIME DIRECTOR DESIGNATED AS “DIRECTOROPERATIONS� OF THE COMPANY FOR A PERIOD OF THREE YEARS W.E.F. 1[ST] MARCH 2020
�RESOLVED THAT p����an� �o �he p�o�i�ion� of Sec�ion� 196, 197 and Sched�le V and o�he� applicable p�o�i�ion�, if an�, of �he Companie� Ac�, 2013 (�he Ac�) �ead �i�h �he Companie� (Appoin�men� and Rem�ne�a�ion of Manage�ial Pe��onnel) R�le�, 2014 (incl�ding an� ��a���o�� modifica�ion(�) o� �e-enac�men� �he�eof fo� �he �ime being in fo�ce) and p����an� �o �he �ecommenda�ion of Nomina�ion and Rem�ne�a�ion Commi��ee, app�o�al of �he membe�� of �he Compan� be and i� he�eb� acco�ded �o �he appoin�men� of Sh�i Debab�a�a G�p�a (DIN: 01500784) a� a Whole Time Di�ec�o� of �he Compan� de�igna�ed a� �Di�ec�o�-Ope�a�ion�� of �he Compan�, fo� a pe�iod of 3 (�h�ee) �ea�� �i�h effec� f�om 1[�� ] Ma�ch 2020, �ho�e pe�iod of office �hall be liable �o de�e�mina�ion b� �e�i�emen� of Di�ec�o�� b� �o�a�ion, on �he �e�m� and condi�ion� and pa�men� of �em�ne�a�ion a� �e� o�� in �he E�plana�o�� S�a�emen� a��ached �o �he No�ice.�
�RESOLVED FURTHER THAT Sh�i Debab�a�a G�p�a, Whole Time Di�ec�o� �hall �o�k �nde� �he ��pe�in�endence, con��ol and di�ec�ion of �he Boa�d of Di�ec�o��.�
�RESOLVED FURTHER THAT �he �o�al �em�ne�a�ion b� �a� of �ala��, pe�q�i�i�e� and allo�ance� pa�able �o Sh�i Debab�a�a G�p�a, Whole Time Di�ec�o�, in an� Financial Yea� �hall no� e�ceed 5% of �he Ne� P�ofi� of �ha� Financial Yea� a� pe� Sec�ion 197, Sched�le V and o�he� applicable p�o�i�ion� of �he Ac�.�
�RESOLVED FURTHER THAT �he Boa�d be and i� he�eb� a��ho�i�ed �o �a�� and/ o� modif� �he �e�m� and condi�ion� of appoin�men� incl�ding �em�ne�a�ion and pe�q�i�i�e� pa�able �o Sh�i Debab�a�a G�p�a in ��ch manne� a� ma� be ag�eed �o be��een �he Boa�d and Sh�i Debab�a�a G�p�a �i�hin and in acco�dance �i�h �he limi�� p�e�c�ibed in Sched�le V �o �he Ac� o� in acco�dance �i�h �he change� �ha� ma� be effec�ed in �ha� Sched�le.�
�RESOLVED FURTHER THAT �he Boa�d be and i� he�eb� a��ho�i�ed �o do all ��ch ac��, deed� and �hing� and e�ec��e all ��ch doc�men��, in����men�� and ��i�ing� a� ma� be �eq�i�ed and �o delega�e all o� an� of i�� po�e�� he�ein confe��ed �o an� Commi��ee of Di�ec�o��.�
�RESOLVED FURTHER THAT Sh�i Debab�a�a G�p�a, Whole Time Di�ec�o� �hall f�nc�ion a� �Di�ec�o�-Ope�a�ion�� and apa�� f�om o�he� d��ie� �ha� a�e en�����ed �o him f�om �ime �o �ime, he �hall be in o�e�all cha�ge of all �he fac�o�ie� of �he Compan� (bo�h e�i��ing and �hich ma� be �e� �p in f����e) incl�ding fac�o�ie� �i��a�ed in �he S�a�e of Maha�a�h��a, G�ja�a�, Himachal P�ade�h, Telangana, A��am, Union Te��i�o�� of Daman o� an� o�he� S�a�e o� Union Te��i�o�� in India.�
9. SPECIAL RESOLUTION FOR RE-APPOINTMENT OF SHRI. SANJEEV AGA AS AN INDEPENDENT DIRECTOR FOR A SECOND CONSECUTIVE TERM OF FIVE YEARS UPTO 31[ST] MARCH, 2025.
�RESOLVED THAT p����an� �o �he p�o�i�ion� of Sec�ion� 149, 152 �ead �i�h Sched�le IV and all o�he� applicable p�o�i�ion�, if an�, of �he Companie� Ac�, 2013 and Companie� (Appoin�men� and Q�alifica�ion of Di�ec�o��) R�le�, 2014 and �he applicable p�o�i�ion� of �he Sec��i�ie� and E�change Boa�d of India (Li��ing Obliga�ion� and Di�clo���e Req�i�emen��) Reg�la�ion�, 2015 (incl�ding an� ��a���o�� modifica�ion(�), o� �e-enac�men� �he�eof fo� �he �ime being in fo�ce) and p����an� �o �he �ecommenda�ion b� Nomina�ion and Rem�ne�a�ion Commi��ee, Sh�i Sanjee� Aga (DIN: 00022065), �ho �a� appoin�ed a� an Independen� Di�ec�o� of �he Compan� fo� fi�e con�ec��i�e �ea�� f�om 46[�h] Ann�al Gene�al Mee�ing (AGM) �p�o �he concl��ion of 51[��] AGM and being eligible, be and i� he�eb� �e-appoin�ed a� an Independen� Di�ec�o� of �he Compan� �o hold office fo� a �econd con�ec��i�e �e�m commencing f�om �he concl��ion of 51[��] AGM �p �o 31[�� ] Ma�ch 2025 and he �hall no� be liable �o �e�i�e b� �o�a�ion.�
�RESOLVED FURTHER THAT �he Boa�d of Di�ec�o�� and/o� �he Compan� Sec�e�a�� be and a�e he�eb� a��ho�i�ed �o �e��le an� q�e��ion, diffic�l�� o� do�b� �ha� ma� a�i�e in gi�ing effec� �o �hi� �e�ol��ion and �o do all ��ch ac��, deed� and �hing� a� ma� be nece��a��, e�pedien� and de�i�able fo� �he p��po�e of gi�ing effec� �o �hi� �e�ol��ion.�
10. ORDINARY RESOLUTION FOR RATIFICATION OF PAYMENT OF REMUNERATION TO M/s V J TALATI & CO., COST AUDITORS:
�RESOLVED THAT p����an� �o �he p�o�i�ion� of Sec�ion 148 and all o�he� applicable p�o�i�ion�, if an�, of �he Companie� Ac�, 2013 and �he Companie� (A�di� and A�di�o��) R�le�, 2014 (incl�ding an� ��a���o�� modifica�ion(�) o� �eenac�men� �he�eof, fo� �he �ime being in fo�ce), �he Co�� A�di�o�� M/�. V J Tala�i & Co., Co�� Acco�n�an��, (Regi���a�ion No. 00213) appoin�ed b� �he Boa�d of Di�ec�o�� of �he Compan�, on �he �ecommenda�ion of A�di� Commi��ee, �o cond�c� �he a�di� of �he co�� �eco�d� of �he Compan� fo� �he financial �ea� ending 31[�� ] Ma�ch 2021, be paid �he �em�ne�a�ion a� �e� o�� in �he e�plana�o�� ��a�emen� anne�ed �o �he No�ice con�ening �hi� mee�ing and �he �ame i� he�eb� �a�ified and app�o�ed.�
�RESOLVED FURTHER THAT �he Boa�d of Di�ec�o�� of �he Compan� be and i� he�eb� a��ho�i�ed �o do all ��ch ac��, deed�, ma��e�� and �hing� and �ake all ��ch ��ep� a� ma� be nece��a��, p�ope� o� e�pedien� �o gi�e effec� �o �hi� �e�ol��ion.�
The�eaf�e�, �he Chai�man in�i�ed �he Membe�� �o a�k �hei� q�e��ion�.
The Compan� Sec�e�a�� anno�nced �he name� of �he �peake��, �ho had en�olled �hem�el�e�, �o e�p�e�� �hei� �ie��.
The Membe�� e�p�e��ed �hei� �ie�� and �ai�ed �a�io�� q�e��ion� �hich in�e� alia �e�e �ela�ing �o �he ope�a�ion� of �he Compan�, effec� of COVID, ��b�idia�ie� of �he Compan�, �e�en�e and ope�a�ion� and o�he� �ela�ed ma��e��. The� al�o app�ecia�ed �he CSR ac�i�i�ie� of �he Compan�, q�ali�� of Ann�al Repo�� e�c. The Chai�man and �he Compan� Sec�e�a�� �eplied �o �he q�e�ie� �ai�ed b� �he Membe��.
The Chai�man �hen info�med �he Membe�� �ha� Sh�i M. M. She�h, P�ac�i�ing Compan� Sec�e�a��, Sc���ini�e� �o�ld ��bmi� hi� Con�olida�ed Repo�� on �emo�e e-�o�ing and elec��onic �o�ing a� �hi� mee�ing �i�hin �he ��ip�la�ed �ime and he a��ho�i�ed Sh�i P�nee� Ban�al, Compan� Sec�e�a�� �o p�bli�h �he �e��l�� of �o�ing along�i�h Sc���ini�e��� Repo�� on �he �eb�i�e of �he Compan�, Na�ional Sec��i�ie� Depo�i�o�� Limi�ed and al�o in�ima�e �o BSE Limi�ed and Na�ional S�ock E�change of India Limi�ed.
He �hen info�med �ha� mee�ing �a� no� clo�ed and e-�o�ing �hall con�in�e fo� addi�ional 15 min��e� af�e� �he clo���e and �he�eaf�e� �he mee�ing �ill be concl�ded.
Sh�i P�nee� Ban�al, Compan� Sec�e�a��, p�opo�ed a �o�e of �hank� �o �he Chai�man, Di�ec�o�� and �he Membe��. A� �hi� j�nc���e, �he Di�ec�o�� and a��endee� logged off f�om �he mee�ing �hile �he Compan� Sec�e�a�� and �he Sc���ini�e� con�in�ed �i�h �he mee�ing fo� f���he� 15 min��e�.
A� �he end of 15 min��e�, �he mee�ing �a� decla�ed a� concl�ded b� �he Compan� Sec�e�a�� a� 04.23 p.m.
Summary of Scrutinizer�s Report :
Re��l� of �emo�e e-�o�ing and elec��onic �o�ing a� �he mee�ing on �he i�em� of O�dina�� B��ine�� and Special B��ine�� a� �he 51[��] Ann�al Gene�al Mee�ing of �he Compan� held on 10[�h] Sep�embe�, 2020.
On �he ba�i� of con�olida�ed Sc���ini�e��� Repo�� da�ed 11[�h] Sep�embe�, 2020 fo� �emo�e e-�o�ing and elec��onic �o�ing, all �he �e�ol��ion� fo� �he O�dina�� and Special B��ine�� a� �e� o�� a� I�em No�. 1 �o 10 of �he No�ice da�ed 17[�h] J�ne, 2020 con�ening �he 51[��] Ann�al Gene�al Mee�ing, ha�e been d�l� pa��ed b� �he Membe�� �i�h �eq�i�i�e majo�i��. The �e��l� of e-�o�ing a�e a� �nde�:
| Resolution Nos. as | Particulars of Votes cast | Particulars of Votes cast | Particulars of Votes cast | Particulars of Votes cast | Result |
|---|---|---|---|---|---|
| given in the notice of the 51st Annual General Meeting |
Remote Voting + Electronic Voting at the AGM |
Declared | |||
| Votes cast in favour of the resolutions |
Votes cast against the resolutions |
||||
| No. | % | No. | % | ||
| Ordinary Business | |||||
| 1. O�dina�� Re�ol��ion fo� Adop�ion of �he A�di�ed Financial S�a�emen�� of �he Compan� �oge�he� �i�h �he �epo��� of Boa�d of Di�ec�o�� and A�di�o��� �he�eon and a�di�ed |
43,52,67,457 | 100.00 | 7,023 | 0.00* | App�o�ed b� �eq�i�i�e majo�i�� |
| con�olida�ed financial ��a�emen�� of �he Compan� �i�h A�di�o��� Repo�� �he�eon fo� �he �ea� ended 31��Ma�ch, 2020. |
|||||
|---|---|---|---|---|---|
| 2. O�dina�� Re�ol��ion fo� confi�ma�ion of in�e�im di�idend on Eq�i�� Sha�e� a� final di�idend |
43,54,56,650 | 100.00 | 5,929 | 0.00* | App�o�ed b� �eq�i�i�e majo�i�� |
| 3. O�dina�� Re�ol��ion fo� �e-appoin�men� of Sh�i A B Pa�ekh a� a Di�ec�o�, �ho �e�i�e� b��o�a�ion. |
40,50,49,779 | 93.02 | 3,03,75,180 | 6.98 | App�o�ed b� �eq�i�i�e majo�i�� |
| 4. Special Re�ol��ion fo� �e-appoin�men� of Sh�i N K Pa�ekh a� a Di�ec�o�, �ho �e�i�e� b� �o�a�ion. |
41,22,03,280 |
94.78 | 2,26,88,432 | 5.22 | App�o�ed b� �eq�i�i�e majo�i�� |
| Special Business | |||||
| 5. O�dina�� Re�ol��ion fo� �e-appoin�men� of Sh�i Bha�a� P��i a� �he Managing Di�ec�o� of �he Compan�, fo� a f���he� pe�iod of fi�e �ea�� �.e.f. 10�h Ap�il, 2020. |
42,00,89,318 | 99.84 | 6,81,415 | 0.16 | App�o�ed b� �eq�i�i�e majo�i�� |
| 6. O�dina�� Re�ol��ion fo� �e-appoin�men� of Sh�i A N Pa�ekh a� a Whole Time Di�ec�o� of �he Compan�, fo� a f���he� pe�iod of fi�e �ea�� �.e.f. 1��J�l�, 2020 |
41,07,03,500 | 94.33 | 2,47,08,712 | 5.67 | App�o�ed b� �eq�i�i�e majo�i�� |
| 7. O�dina�� Re�ol��ion fo� appoin�men� of Sh�i Debab�a�a G�p�a a� a Di�ec�o� of �he Compan� |
41,61,95,380 | 95.58 | 1,92,66,831 | 4.42 | App�o�ed b� �eq�i�i�e majo�i�� |
| 8. O�dina�� Re�ol��ion fo� appoin�men� of Sh�i Debab�a�a G�p�a a� a Whole Time Di�ec�o� (de�igna�ed a� �Di�ec�o�- Ope�a�ion��) of �he Compan� fo� a pe�iod of �h�ee �ea�� �.e.f. 1�� Ma�ch, 2020 |
42,86,80,201 | 98.44 | 67,81,981 | 1.56 | App�o�ed b� �eq�i�i�e majo�i�� |
| 9. Special Re�ol��ion fo� �e-appoin�men� of Sh�i. Sanjee� Aga a� an Independen� Di�ec�o� of �he Compan� fo� a �econd con�ec��i�e �e�m of fi�e �ea�� �p�o 31�� Ma�ch, 2025. |
41,53,20,369 | 98.83 | 49,21,826 | 1.17 | App�o�ed b� �eq�i�i�e majo�i�� |
|---|---|---|---|---|---|
| 10. O�dina�� Re�ol��ion fo� �a�ifica�ion of pa�men� of �em�ne�a�ion �o M/�. V J Tala�i & Co., Co�� A�di�o��. |
43,54,67,798 | 100 | 2,262 | 0.00* | App�o�ed b� �eq�i�i�e majo�i�� |
- Negligible
Sd/Sd/-
PUNEET BANSAL M B PAREKH COMPANY SECRETARY CHAIRMAN OF THE MEETING MUMBAI