Power Mech Projects Limited — AGM Information 2024

Sep 27, 2024

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Date: September 27, 2024

To Listing Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001 Scrip Code - 539302

To Listing Department National Stock Exchange of India Ltd., Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Symbol - POWERMECH

Dear Sir / Madam,

Sub: Proceedings of the 25[th] Annual General Meeting

***

Pursuant to Regulation 30 read with schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, please find enclosed the proceedings of 25[th] Annual General Meeting (AGM) of the Company, held today (i.e., September 27, 2024) through Video Conferencing (VC) /Other Audio Visual Means (OA VM) at 10:00 a.m. (IST).

The video recordings of the aforementioned AGM will be made available on the Company's website in due course at: https://powermechprojects.com/announcements/

Kindly take the same on record and acknowledge the receipt.

Thanking you.

For Power Mech Projects Limited

MOVVA Digitally signed by MOVVA RAGHAVENDRA RAGHAVENDRA PRASAD Date: 2024.09.27 18:29:59 PRASAD +05'30' M. Raghavendra Prasad Compliance officer ICSI M. No. A41798

Encl: as above

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SUMMARY OF THE PROCEEDINGS OF 25[th] ANNUAL GENERAL MEETING

The 25[th] Annual General Meeting (AGM) of the members of Power Mech Projects Limited was convened on Friday, September 27, 2024, at 10:00 a.m. (IST) through Video Conferencing ("VC") / Other Audio-Visual Means ("OAVM").

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Directors present through Video Conferencing (“VC”) / Other Audio-Visual Means (“OAVM”):

Mr. Kishore Babu Sajja	:	Chairman and Managing Director- from Hyderabad
Mrs. Lakshmi Sajja	:	Director- from Hyderabad
Mr. Rajiv Kumar Motihari	:	Director and Chaiman of Stakeholders Relationship Committee – from Delhi
Mr. Vivek Paranjpe	:	Independent director and Chairman of Nomination and Remuneration Committee - from Mumbai
Mr. Jayarama Prasad Chalasani	:	Independent director and Chairman of Audit and Risk Management Committees - from Hyderabad
Mrs. Lasya Yerramneni	:	Independent woman director- from Hyderabad

All the Directors of the Company were present at this meeting.

In attendance (through Video Conference):

Mr. M. Raghavendra Prasad : Compliance Officer

Invitees Present through Video Conference:

Mr. Rohit Sajja	:	President of the Company
Mr. Nani Aravind Nallamothu	:	Chief Financial Officer of the Company (CFO)
Mr. M. Gopi Krishna	:	StatutoryAuditors,from KS Rao and Co,Chartered Accountants
Mr. P.S. Rao	:	Secretarial Auditors,form P.S.Rao and Associates
Mr. D.S. Rao	:	Scrutinizer for the remote e-voting& e-votingduringthe AGM

Members Present:

Total no. of shareholders participated in AGM through VC or OAVM : 47

The Compliance Officer welcomed the Shareholders, Directors, Auditors and other Stakeholders to the Company’s 25[th] AGM. After ensuring that the requisite quorum was present, he requested Mr. Kishore Babu Sajja, Chairman and Managing Director, to commence the proceedings of the meeting.

Mr. Kishore Babu Sajja, Chairman and Managing Director of the Company, Chaired the meeting and conducted the proceedings of the meeting. Thereafter, both Mr. Kishore Babu Sajja, Chairman and Managing Director, and Mr. Rohit Sajja, President of the Company, individually delivered their speeches. Their addresses covered key areas including the Company’s performance, its positioning within the industry, strategic initiatives for the upcoming years, and other broad aspects of the Company’s offerings.

Thereafter, the Compliance Officer informed the members that the statutory registers such as register of Directors and Key managerial personnel and their shareholding (as per Section 170 of the Companies Act, 2013, (the Act)) and register of Contracts (as per Section 189 of the Act) were made available electronically for inspection during the AGM.

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Notice of the AGM along with the Annual Report, since already circulated, was taken as read and the Compliance Officer informed the members that the Reports of statutory auditors and Secretarial Auditor did not contain any qualifications.

As part of the proceedings, shareholders noted the following:

• The Company engaged National Securities Depository Limited to provide remote e-voting facility to the members to exercise their vote in respect of business proposed in this AGM. The remote e-voting commenced on September 24, 2024, at 9:00 a.m. (IST) and ended on September 26, 2024, at 5:00 p.m. (IST).

• Shareholders who could not exercise their vote through remote e-voting were given an opportunity to cast their vote during AGM and within 15 minutes even after conclusion of the meeting.

• Mr. D.S. Rao, Practicing Compliance Officer was appointed as the Scrutinizer for the remote e-voting and e-voting done during the AGM.

• The results along with scrutinizer report will be uploaded on the website of the Company and also be submitted to the stock exchanges, i.e., NSE and BSE well within the timelines as prescribed in the Act and the Listing Regulations.

The following items of business as set out in the Notice convening the 25[th] AGM were commended for shareholders’ consideration and approval:

Item No.	Resolution	**Resolution type **
1	Adoption of Financial Statements.	OrdinaryResolution
2	Declaration of dividend on the equityshares	OrdinaryResolution
3	Re-appointment of Mr. M. Rajiv Kumar,Director retiringbyrotation.	OrdinaryResolution
4	Appointment of statutoryauditors for the first term of fiveyears	OrdinaryResolution
5	Ratification of remuneration payable to Cost Auditors for the financial year 2024-25.	Ordinary Resolution
6	Payment of remuneration to Mr. M. Rajiv Kumar, Non-Executive Director bywayof consultancyfees.	Special Resolution
7	Revision in remuneration payable to Mr. Rohit Sajja, President of the Company.	Ordinary Resolution
8	BorrowingPowers and Creation of Security.	Special Resolution
9	Related Party Transactions with identified subsidiaries of the Company/Joint Ventures and/ or their subsidiaries.	Ordinary Resolution
10	Increase of Authorized Share Capital of the Company and amendment in the Capital Clause in the Memorandum of Association of the Company.	Ordinary Resolution
11	Issue of Bonus shares	OrdinaryResolution

Shareholders who have registered as speakers were invited one by one to seek clarifications, if any, on the resolutions as set out in the Notice of AGM dated August 22, 2024, or otherwise. Members appreciated the performance of the Company during FY 2023-24 and sought few clarifications.

Mr. Rohit Sajja, President of the Company, and Mr. Nani Aravind, CFO, provided clarifications to all the queries of the members.

Thereafter, the Chairman authorized the Compliance Officer to declare the results of the voting and place the results on the website of the Company at the earliest besides submitting to Stock Exchanges.

The Compliance Officer announced that all the business set out in the Notice of this AGM had been concluded and a time period of 15 minutes was made available for e-voting / insta poll.

The meeting concluded at 10:36 a.m. (IST) with vote of thanks followed by the insta poll.

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