Servotech Renewable Power System Limited — AGM Information 2024

Sep 27, 2024

27[th] September, 2024

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To,

National Stock Exchange of India Limited Exchange Plaza, Plot no. C/ 1, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai - 400 051, Maharashtra

Trading Symbol: SERVOTECH

Sub.: Proceedings of the 20[th] Annual General Meeting of the Company held on Friday, 27[th] September, 2024 pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations")

Dear Sir/Madam,

In accordance with the provisions of Regulation 30 read with Para A of Part-A of Schedule Ill of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 “Listing Regulations”, please find enclosed herewith a summary of proceedings of 20[th] Annual General Meeting of the Company marked as 'Annexure 1' , duly convened on Friday, 27[th] September, 2024 at 11:00 A.M. at the 806, 8th Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi 110085 through video conferencing ("VC")/other Audio Video Means ("OAVM").

It is hereby informed that the voting results in the format prescribed under Regulation 44 of the Listing Regulations are being filed with NSE separately.

You are requested to take the aforesaid information on records.

Kindly acknowledge receipt.

Thanking You,

FOR SERVOTECH POWER SYSTEMS LIMITED

Rupind Digitally signed by Rupinder Kaur Date: 2024.09.27 er Kaur 16:08:17 +05'30'

RUPINDER KAUR COMPANY SECRETARY AND COMPLIANCE OFFICER ICSI MEM. NO.: A38697

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ANNEXURE‐1

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SUMMARY OF THE PROCEEDINGS OF THE 20[TH] ANNUAL GENERAL MEETING OF SERVOTECH POWER SYSTEMS LIMITED

The 20[th] Annual General Meeting (“AGM”) of the Members of Servotech Power Systems Limited ("the Company") was held on Friday, 27[th] September, 2024 at 11:00 A.M (IST) through Video Conferencing (VC) and Other Audio-Visual Means (OAVM).

Directors in attendance:

1. Mr. Raman Bhatia, Managing Director, joined over VC from Delhi

2. Ms. Sarika Bhatia, Whole-time Director, joined over VC from Delhi.

3. Mr. Anupam Gupta, Independent Director, joined over VC from Delhi

4. Mr. Sampat Rai, Independent Director and also Chairman of Nomination and Remuneration Committee, is joining this AGM from Delhi.

5. Meenakshisundaram Kolandaivel, Independent Director and also chairman of Audit and stakeholder’s Relationship committee is joining this AGM from Chennai.

All the Directors were present in the meeting, except Dr. Rajesh Mohan Rai, Non Independent Director and chairman of CSR Committee, due to some technical issues.

Other Representative(s):

1. Mr. Rohit Jain, Partner KC Jain & Co., Chartered Accountants, Statutory Auditors, joined over VC from Delhi.

2. Mr. Debabrata Deb Nath, Partner M/s. R&D Company Secretaries, joined over VC from Delhi

3. Mr. Vikas Bhatia, Chief Financial Officer, joined over VC from Delhi.

4. Ms. Rupinder Kaur, Company Secretary, joined over VC from Delhi.

Mr. Vikas Bhatia, Chief Financial Officer welcomed all the members and informed that this AGM is being held through video conference. He then introduced the Directors, Key Managerial Personnel and Senior Management attending the meeting. He requested Mr. Raman Bhatia, Managing Director to chair the meeting.

Thereafter, he requested Ms. Rupinder Kaur, Company Secretary to brief them about certain important points regarding video conferencing. Accordingly, the Company Secretary informed the Members that this AGM is being held through video conference in accordance with the circulars issued by the Ministry of Corporate Affairs and SEBI. The members were informed that the requisite registers and other documents referred to in the notice of Meeting were available for inspection during the Meeting. The Chairman was then requested to deliver his speech.

Thereafter, the Company Secretary informed the Members that the notice convening this AGM, Audited Financial Statements of the Company for the year ended 31[st] March, 2024 and the Director's Reports had already been emailed to all shareholders and were taken as read. Since this meeting was held through VC and following resolutions were put to vote through e-voting poll during the meeting, the practice of proposing and seconding of resolutions was dispensed with.

With the permission of members, the Notice convening the Meeting, the Directors Report and the Auditors Report for the financial year ended 31[st] March, 2024 was taken as read. The members were also informed that there were no qualification remarks reported by the Statutory Auditors and Secretarial Auditors of the Company in their respective reports.

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Thereafter, Members were explained the procedure of voting on the resolutions as mentioned in the Notice dated 24[th] August, 2024. They were informed that the remote e-voting facilities had been arranged by the Company through a platform provided by National Security Depository Limited ("NSDL"), pursuant to Section 108 of the Companies Act, 2013 ("Act") read with Rule 20 of the Companies (Management and Administration) Amendment Rules, 2015 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 which commenced from Monday, 23[rd] September, 2024 from 09:00 A.M. (IST) and ended on Thursday, 26[th] September, 2024 at 05:00 P.M. (IST). She further informed the Members present, that subsequent to the Ministry of Corporate Affairs ("MCA") circular of 8[th] April 2020, the facility to appoint proxy to attend and cast vote for the members is not available for this AGM. She also informed that joining AGM opened 30 minutes before the scheduled time of the commencement of the meeting, which is 11:00 P.M. and it remained open for another 15 minutes after the end of the meeting. Members, who have not voted during the e-voting can cast their vote during that period.

Thereafter, the Company Secretary announced for voting to be taken electronically (remote e-voting) and had appointed Mr. Debabrata Deb Nath, M/s R&D Company Secretaries, Practicing Company Secretary (ICSI Membership No. 7775 and C.P. No. 8612), was appointed as Scrutinizer to scrutinize the remote e-voting processes at the meeting in a fair and transparent manner.

Considering non-receipt of any query from Members, the Company did not hold any question/answer session.

Thereafter, the following items of business as per the Notice of the AGM dated 24[th] August, 2024 were transacted at the Meeting:

Sl. No.	Resolution(s)
Ordinary Business
1.	To receive, consider and adopt a) The Audited Standalone Financial Statements of the Company for the financial year ended 31stMarch, 2024, together with the Reports of the Board of Directors and the Auditors thereon; and b) The Audited Consolidated Financial Statements for the financial year ended 31st March, 2024, together with the Reports of the Auditors thereon.(As Ordinary Resolution)
2.	To appoint a Director in place of Mr. Rajesh Mohan Rai (DIN: 09050751), who retires by rotation and being eligible, offers himself for re-appointment.(As Ordinary Resolution)
3.	To declare Final Dividend on Equity Shares of Rs. 0.05/- (Five Paisa Only) per Equity Share of face value of Rs. 1/- of the Company as recommended by Board for the financial year 2023-24. (As Ordinary Resolution)
Special Business
4.	To approve there-appointment of Mr. Sampat Rai, (DIN: 07710412) as the Non-Executive Independent Director of the Company for a second term of 3 consecutive years.(As Special Resolution)
5.	To ratify the remuneration of Cost Auditors for the financial year 2024-25(As Ordinary Resolution)

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The Members were further informed the members that the Voting Results of the AGM shall be declared within 48 hours from the closure of the Meeting and shall be placed on the website of the Company as well as on the website of NSDL and will also be displayed on the Notice Board at the Registered office of the Company and be simultaneously forwarded to National Stock Exchange of India ("NSE"), where the share of the Company are listed.

The meeting concluded with a vote of thanks to the chair at 11.45 a.m.

You are requested to take the aforesaid information on records.

Thanking You,

FOR SERVOTECH POWER SYSTEMS LIMITED

Rupind Digitally signed by Rupinder Kaur er Kaur Date: 2024.09.27 16:08:38 +05'30' RUPINDER KAUR COMPANY SECRETARY AND COMPLIANCE OFFICER ICSI MEM. NO.: A38697

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