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Polychem Ltd — AGM Information 2023
Aug 29, 2023
62149_rns_2023-08-29_f9f6cfea-bf9f-4f7a-b98b-64d403f8d6f5.pdf
AGM Information
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POLYCHEM LIMITED
CIN: L24100MH1955PLC009663
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REGD. OFFICE: 7. JAMSHEDJI TATAROAD. CHURCHGATE RECLAMATION. MUMBAI-400 020 Ph: 022 - 2282 0048, E-mail: [email protected] , Website: www.polychemltd.com
Date: 29.08.2023
To Head Listing Compliance Bombay Stock Exchange Ltd. Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001
Company Code – 506605
Dear Sir/Ma'am,
Sub: Proceedings of the 66[th] Annual General Meeting (“AGM”) of the members of Polychem Limited (“Company”)
Pursuant to Regulation 30 read with Schedule III and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit the proceedings of the 66[th] Annual General Meeting (“AGM”) of the Company held on Tuesday, 29[th] August, 2023 at 11.00 a.m. through Video Conferencing (VC) / Other Audio Video Means (OAVM).
Yours faithfully,
For Polychem Limited
DEEPALIBE Digitally signed by DEEPALIBEN N VISHAL VISHAL CHAUHAN Date: 2023.08.29 CHAUHAN 15:43:47 +05'30'
(Deepali V Chauhan) Company Secretary & Compliance Officer Mem No. A38273
POLYCHEM LIMITED
CIN: L24100MH1955PLC009663
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REGD. OFFICE: 7. JAMSHEDJI TATAROAD. CHURCHGATE RECLAMATION. MUMBAI-400 020 Ph: 022 - 2282 0048, E-mail: [email protected] , Website: www.polychemltd.com
SUMMARY OF PROCEEDINGS OF THE 66[th] ANNUAL GENERAL MEETING OF POLYCHEM LIMITED
The 66[th ] Annual General Meeting of the members of the Company was held on Tuesday, 29[th] August, 2023 at 11:00 a.m. through Video Conferencing (VC) / Other Audio Video Means (OAVM) in compliance with MCA General Circulars. The following Directors, other Senior Officials and Auditors were present:
Mr. Parthiv T. Kilachand - Managing Director Mr. Atul H. Mehta - Deputy Managing Director Mr. Nandish T. Kilachand - Non – Executive Director Mr. Vinayak V. Sahasrabudhe - Independent Director and Chairman of the Audit, Stakeholder Relationship Committee and NRC Committee Mr. Yogesh S. Mathur - Independent Director Ms. Nirmala S. Mehendale - Independent Director Ms. Kanan V. Panchasara - Chief Financial Officer Ms. Deepali V. Chauhan - Company Secretary Mr. K. Y. Narayan - Partner, Nayan Parikh & Co., Statutory Auditor Ms. Ragini Chokshi - Partner, Ragini Chokhi & Co., Secretarial Auditor
Mr. Parthiv T. Kilachand, Managing Director of the Company extended a warm and hearty welcome to everyone present at the meeting and took the Chair and presided the meeting.
The Company Secretary announced that the requisite quorum was present and the meeting was called to order.
The Chairman informed the Members that pursuant to the provisions of the Companies Act, 2013 ("the Act"), the documents which were required to be kept open for inspection were made available for inspection by the Members through electronic mode during the AGM.
Thereafter with the permission, the Notice of the 66[th] AGM dated 17[th] May, 2023 and Auditors Report was taken as read.
The Chairman apprised the members about the financial performance of the company and its future prospects and invite the members who have registered themselves as speakers for their suggestions and queries which were replied by the Chairman.
POLYCHEM LIMITED
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CIN: L24100MH1955PLC009663
REGD. OFFICE: 7. JAMSHEDJI TATAROAD. CHURCHGATE RECLAMATION. MUMBAI-400 020 Ph: 022 - 2282 0048, E-mail: [email protected] , Website: www.polychemltd.com The Chairman then informed the Members that pursuant to the provisions of the Act and SEBI Listing Regulations, the Company had provided facility to all the Members whose names appeared in the Register of Members / Beneficial Owners as on 22[nd] August, 2023 (“Cut-off Date") to exercise their votes on the items of business given in the Notice through remote electronic voting system (“e-voting system”) provided by the NSDL. The remote e-voting period remained open from Friday, 25[th] August, 2023 at 9:00 A.M. and ended on Monday, 28[th] August, 2023 at 5:00 P.M. Further, the facility for voting through e-voting system was made available during the AGM and till 15 minutes after conclusion of AGM for Members who had not already cast their vote prior to the Meeting.
Further, the Chairman informed that M/s. Ragini Chokshi & Co., Practicing Company Secretary, was appointed as the Scrutinizer for remote e-voting and voting at AGM and the combined results of remote e-voting and e-voting at AGM will be announced within 48 hours of the conclusion of this AGM and the same will be forwarded to BSE Limited and uploaded on Company’s website.
The following items of business as per the Notice of the 66[th] AGM were recommended for Members consideration and approval through e-voting system:-
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Item Agenda Resolution (Ordinary/
No Special)
Ordinary Business
1. A. To receive, consider and adopt the Standalone Ordinary
financial statements of the Company for the year
ended 31st March, 2023, including the audited
Standalone Balance Sheet as at 31st March,
2023, the Statement of Profit and Loss and Cash
Flow Statement, for the year ended on that date
and the reports of the Board of Directors (the
Board) and Auditors thereon.
B. To receive, consider and adopt the
Consolidated financial statements of the
Company for the year ended 31st March, 2023,
including the audited Consolidated Balance
Sheet as at 31st March, 2023, the Statement of
Profit and Loss and Cash Flow Statement, for the
year ended on that date and the reports of the
Board of Directors (the Board) and Auditors
thereon.
2. To declare a dividend of Rs 20/- per equity share Ordinary
(i.e. 200%) of Rs 10/- each.
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POLYCHEM LIMITED
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CIN: L24100MH1955PLC009663 REGD. OFFICE: 7. JAMSHEDJI TATAROAD. CHURCHGATE RECLAMATION. MUMBAI-400 020 Ph: 022 - 2282 0048, E-mail: [email protected] , Website: www.polychemltd.com
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3. To appoint a Director in place of Mr. T. R. Ordinary
Kilachand (DIN: 00006659), who retires by
rotation, and being eligible, offers himself for re-
appointment.
4. To appoint a Director in place of Mr. N. T. Ordinary
Kilachand (DIN: 00005530), who retires by
rotation, and being eligible, offers himself for re-
appointment.
Special Business
5. Re-appointment of Mr. P. T. Kilachand as Special
Managing Director for a period of three years
w.e.f. 1st April, 2023.
6. Re-appointment of Mr. A. H. Mehta as Dy. Special
Managing Director for a period of three years
w.e.f. 5 [th] June, 2023.
7. Payment of Commission not exceeding 1% of net Ordinary
profit to Non-Executive Directors of the
Company for three years.
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The Chairman thanked the Members and declared the Meeting as closed. The Meeting commenced at 11:00 a.m. (IST) and concluded at 11:30 a.m. (IST).
You are requested to kindly take this on record.
Yours faithfully, For Polychem Limited
DEEPALIB Digitally signed by DEEPALIBEN EN VISHAL VISHAL CHAUHAN Date: 2023.08.29 CHAUHAN 15:43:22 +05'30' (Deepali V Chauhan) Company Secretary & Compliance Officer Mem No. A38273