PSP Projects Limited — AGM Information 2022

Sep 27, 2022

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Ref No: PSPPROJECT/SE/51/22-23 Corporate Relations Department BSE Limited Floor 25, P.J. Towers, Dalal Street, Mumbai- 400 001 Scrip code: 540544

September 27, 2022 Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051 Scrip Symbol: PSPPROJECT

Dear Sir/Madam,

Subject: Summary of Proceedings of the 14[th] Annual General Meeting (AGM) of the company held on September 27, 2022

Pursuant to Regulation 30(2) read with Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, please find enclosed herewith a summary of the proceedings of the 14[th] Annual General Meeting of the members of the company held today, i.e. September 27, 2022 at 11:00 A.M. through Video Conferencing.

Kindly take the same on your record.

Thanking You,

Yours faithfully,

For PSP Projects Limited

PATEL Digitally signed by PATEL KENAN KENAN Date: 2022.09.27 15:00:12 +05'30' Kenan Patel Company Secretary and Compliance Officer

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SUMMARY OF PROCEEDINGS OF THE 14[TH] ANNUAL GENERAL MEETING OF THE MEMBERS OF PSP PROJECTS LIMITED (‘THE COMPANY’)

A. Date, time and venue of the 14[th] Annual General Meeting (AGM):

The 14[th] Annual General Meeting (“AGM”) of the members of the company was held on Tuesday, September 27, 2022 through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”).

The meeting commenced at 11:00 A.M. and concluded at 11.31 A.M.

B. Attendees of the Meeting:

The meeting was attended by the following:

Sr.no	Names of the Attendees	Designation
Directors:
1.	Mr. Prahaladbhai S. Patel	Chairman, Managing Director & CEO (Chairman of Risk Management Committee and Authorised Representative of Corporate Social ResponsibilityCommittee)
2.	Ms. Pooja P. Patel	Whole time Director
3.	Mr. Sagar P. Patel	Executive Director
4.	Mr. Vasishtha P. Patel	Independent Director (Chairman of Audit Committee & Stakeholders RelationshipCommittee)
5.	Mrs. Achala Patel	Independent Director (Chairperson of Nomination and Remuneration Committee)
Key Managerial Personnels:
6.	Mrs. Hetal Patel	Chief Financial Officer
7.	Mr. Kenan Patel	Company Secretary and Compliance Officer
Other	Representatives:
8.	Mr. Jinal Patel	Partner (Representative) - M/s. Kantilal Patel & Co., Joint StatutoryAuditor
9.	Ms. Riddhi Sheth	Proprietor - M/s. Riddhi P. Sheth & Co., Joint StatutoryAuditor

10.	Ms. Koushalya Melwani	Proprietor – M/s. K. V. Melwani & Associates, Cost Auditor
11.	Mr. ChiragShah	M/s. ChiragShah & Associates,Secretarial Auditor
12.	Mr. Rohit Dudhela	Scrutinizer

C. Proceedings in brief:

Mr. Prahaladbhai S. Patel, Chairman, Managing Director & CEO chaired the proceeding of the Meeting.

The Company Secretary, on the instruction of the Chairman, provided general instructions to the members regarding participation and e-voting at the meeting. He informed the members that this meeting has been convened and being conducted through VC in accordance with the circulars issued by Ministry of Corporate Affairs and Securities and Exchange Board of India (SEBI).

He stated that the e-voting commenced on September 24, 2022 at 9:00 AM and ended on September 26, 2022 at 5:00 PM.

Thereafter, the Chairman welcomed all the attendees and shareholders joined through VC and requested Board Members attending the AGM through VC to introduce themselves.

All the directors present through VC introduced themselves after which the Chairman informed that alongwith him, the Company Secretary & Compliance officer and Chief Financial Officer of the Company were attending the meeting from the Registered Office of the company. He informed that One of the Director Mr. Sandeep Shah was unable to attend the meeting due to his other important commitments.

The Chairman thereafter, informed the members that the representative of M/s. Kantilal Patel & Co and M/s. Riddhi P. Sheth, Joint Statutory Auditors, M/s. K. V. Melwani & Associates Cost Auditor, M/s. Chirag Shah & Associates, Secretarial Auditors and Mr. Rohit S. Dudhela, Scrutiniser of the meeting were also present at the meeting through VC.

On requisite quorum being present, the Chairman called the meeting in order and commenced the proceedings of the meeting.

The Chairman then addressed the members on the topic “Building for India” and briefed on the performance and progress of the Company during the financial year 2021-22, recent developments and future prospects of the company.

The detailed Chairman’s speech delivered at the 14[th] Annual General Meeting shall be available on the website of the Company as well as of BSE Limited and National Stock Exchange of India Limited.

Thereafter, the notice of the 14[th] AGM and the Board’s Report were taken as read. The Chairman informed the Members that the Auditors’ Reports on the standalone and consolidated financial statements and the Secretarial Audit Report of the Company for the financial year ended March 31, 2022 forming part of the Annual Report do not contain any qualification, reservation, adverse remark or disclaimer, which have any adverse effect on the functioning of the company. Accordingly, the Reports were not required to be read out, as provided in the Companies Act, 2013.

Thereafter the Chairman took up the following seven resolutions as set forth in the Notice convening the 14[th] AGM.

Ordinary Business:

1. To receive, consider and adopt –

2. a. the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2022, together with the Reports of the Board of Directors and the Auditors thereon;

3. b. the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2022, together with the Reports of Auditors thereon. (Ordinary Resolution)

4. To declare a Final Dividend of ₹5/- per fully paid equity share for the financial year ended March 31, 2022. (Ordinary Resolution)

5. To appoint a director in place of Mr. Prahaladbhai S. Patel (DIN: 00037633), who retires by rotation and being eligible, offers himself for reappointment. (Ordinary Resolution)

Special Business:

1. To appoint Mrs. Achala M. Patel (DIN: 00914990) as Non-Executive Independent Director. (Special Resolution)

2. To revise the terms of Remuneration payable to Ms. Pooja P. Patel (DIN: 07168083), Whole-Time Director of the company. (Special Resolution)

3. Revision in the terms of Remuneration payable to Mr. Sagar P. Patel (DIN: 07168126), Executive Director of the company. (Special Resolution)

4. Ratification of Cost Auditors’ remuneration. ( Ordinary Resolution)

Thereafter, the chairman answered the questions of speaker shareholder. The Company Secretary informed the members that the NSDL platform for e-voting will remain open for 15 minutes after the conclusion of the meeting. He stated that the Company had appointed Mr. Rohit S. Dudhela, Practising Company Secretary, as the Scrutinizer to supervise the e-voting process.

He further added that the consolidated results of e-voting will be declared within 48 hours from the conclusion of the meeting and shall be placed on the website of the company (www.pspprojects.com) as well as of BSE Limited (www.bseindia.com) and National Stock Exchange of India Limited (www.nseindia.com) and National Securities Depository Limited (www.evoting@nsdl.com).

53 (Fifty-Three) members attended the meeting through VC.

The Chairman then thanked the members present for sparing their time to attend the meeting and declared the meeting as closed at 11:31 a.m.

Note: This document does not constitute minutes of the proceedings of the 14[th] Annual General meeting of the Company.

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