Simbhaoli Sugars Ltd — AGM Information 2019

Oct 11, 2019

LI

Ref: AGM/SE/2019.,20 October 10,.2019

Simbhaoli Sugars Limited CIN-l, 15122UP2011PLC044210 (An FSSC 22000: 2011, ISO 9001: 2008 & 14001 : 2004 Certified Company) Corporate Office A-112, Sector-63, Noida-201307 (Delhi NCR) INDIA Tel. : +91-120�480 6666 Fax : +91-120-2427166 E-mail : info@simbhaolisugars.com www.simbhaolisugars.com GSTIN: 09AAPCS7569A 1 ZV

To,

Bombay Stock Exchange Ltd. PhirozeJeejeebhoy Towers Dalal Street, Fort Mumbai 400 001

The National Stock Exchange of India Limited Exchange Plaza, Bandra-Ktirla Complex, Mumbai-400051

Ref: Scrip Code: NSE: SIMBHALS BSE: 53972 Sub: Minutes of the 8[th ] Annual General Meeting of the Company

Dear Sir / Madam,

We are enclosing herewith the copy of the Minutes of the proceedings of the 8[th ] Annual General Meeting of the Company held at 10.00 a.m. on Wednesday, September 25, 2019 at the registered office of the Company at Officers' Club, sugar mill complex, Simbhaoli245207, Distt. Hapur, Uttar Pradesh.

This is for your information and record.

Thanking you, Yours faithfully, For Simbhaoli Sugars Limited

al S:imtani ( Company Secretary) F-5140

*Mis Simbhaoli Spirits Limited known as Mis SimbhaiJli Sugars Limited in pursuance to Scheme of Amalgamation, as sanctioned by the Hon 'ble High Court of Judicature at AllaJ1abad

Potable Alcohol

Specially Sugars

Ethanol

Power

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MII\IUTE B·OOK

Simbhaoli Sugars Limited

"'""½i REGO

MINUTES OF THE 8TH ANNUAL GENERAL MEETING OF THE MEMBERS OF SIMBHAOLI SUGARS LIMITED HELD ON WEDNESDAY, SEPTEMBER 25, 2019, AT 10:00 A.M. AT REGISTERED OFFICE OF THE COMPANY AT SIMBHAOLI -245 207, DISTRICT HAPUR, UTT AR PRADESH

Members Present:

Mr. Kamal Samtani, Company Secretary of the Company submitted the attendance report of the members, present at the Meeting in perso� and through proxy. He stated that necessary quorum is present as per the record of attendance, with 38 members,present in person and 4 members through their valid proxies at the Meeting. The quorum was present throughout the meeting. Proxies represented by 4186771 shares.

Chairperson

Mr. Gurmit Singh Mann, Chairperson, occupied the Chair. He informed that Ms. Gursimran Kaur Mann, Managing Director, Mr. Gurpal Singh, Mr.SK Ganguli and Justice C K Mahajan (Retd), the Directors have expressed their inability to attend the gu, Annual General Meeting.·

Directors Present:

1. Mr. GurmitSingh Mann

2. Mr. Sanjay Tapriya

3. Mr. H P Kain, Chairperson, Audit Committee and Nomination and Remuneration Committee and Stakeholders Relationship Committee

Invitees:

1. Mr. S N Garg, representing M/ s Mittal Gupta and Company, Chartered Accountants, Statutory Auditors and M/ s Amit Gupta & Associates, the Secretarial Auditors of the Company.

Proceedings

The 8th Annual General Meeting (ACM) of the members of the Company was convened and held at 10:00 am on Wednesday, September 25, 2019 at the Registered Office of the Company at the Officers' Club, Sugar Mill Complex, Simbhaoli-245 207, District Hapur, Uttar Pradesh.

The Meeting was attended by Mr. Gurmit Singh Mann, Chairperson, Mr. HP Kain, Chairperson, Audit Committee and Nomination and Remuneration Committee, and Mr. Sanjay Tapriya, Directors of the Company.

Company Secretary requested the Chairperson to proceed with the business of the meeting as per Notice of AGM dated August 14, 2019, read with the Explanatory Statement annexed to the Notice, forming part of the 8th Annual Report 2018-19.

He informed that the copies of annual report for the financial year ended on March 31, 2019 have been circulated and with the permission of members, the same was considered as read. The qualifications, observations, comments, remarks on the financial transactions as mentioned in Independent Audit R t and Selretarial Audit Report were read at the meeting. , 01.\G4'l'.s, 1 "' \< - � ...... ..'"..�.. - �· .?.) ):::_ '1� \:,' . f . �'.t/;j.Y

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Company Secretary informed the members that in compliance with Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014 and the provisions of Regulation 44 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the E-Voting Facility was provided to the members of the Company from National Securities Depository Ltd., to cast their votes for business items to be transacted at the Annual General Meeting. The remote e-voting opened at 10:00 am on Saturday, September 21, 2019 and closed'at 5:00 pm on Tuesday, Septembet 24, 2019. He also informed that in the form MGT-11, as annexed to tl).e 8th Annual Report for the financial year 2018-19, at item no. 8, the word 'Chief financial Officer' to be read as 'Chief Operating Officer'. There is no change in the respective resolution under item No 8 of the said Notice.

He further informed that the details of e-voting including the EVEN number, User Id and password along with the detailed instructions for e-voting were provided in the Notice of AGM. The Company had appointed Mr. Sandeep Joshi, (Practicing . . Company Secretary No. 20884) as the Scrutinizer to scrutinize the e-voting and poll process as per applicable law. With the permission of the Chairperson and after obtaining the consent of the Members of the Company, Ms. Suman Kapoor an individual shareholder and Mr. Rahul Sharma representing a corpor�re shareholder, under the public category, present at the meeting were nominated as witnesses of the meeting to assist the scrutinizer for the completion of the poll process and submission of the report to the Chairperson of the Company.

The Chairperson invited the Members to raise questions, offer comments or seek clarifications on the Annual report and financial statements or any of the items stated in Notice of the 8[th ] AGM of the Company. Upon the members completing their submission, the Chairpersoh furnished requisite· clarifications to all the relevant queries raised by them.

All the 9 (Nine) resolutions required to be passed were prop_osed and seconded by the members. Thereafter, the Chairperson ordered a Poll to be taken at the AGM venue by way of physical ballot for those members who could not cast their vote through e-voting. He announced his nature of interest in Item No 3 and 7 of Notice of AGM.

Ballot papers were distributed to the members/proxy present at the meeting. The business items as per Notice of AGM were transacted and resolutions were put to vote through Ballot.

The Company Secretary announced that the voting results shall be submitted to the Stock exchanges in the prescribed format and the said results along-with Scrutinizer's Consolidated Report shall also be placed on the Company's website at www.simbhaolisugars.com. He also stated that the voting results shall �,i'o be placed on the Notice Board of the Company at its Registered Office. ''

A R_M�ALS N'S---<� •• �

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Simbhaoli Susrars Limited

"""½i REGO

Thereafter, the physical ballot exercise was conducted in a fair and transparent manner. Mr. Sandeep Joshi, Scrutinizer then conducted the poll and after closing the poll process at 10:45 hrs, tool, the custody of the ballot boxes.

The remote e-voting results and Ballot boxes were unblocked on the NSDL E-voting platform by Mr. Sandeep Joshi, Scrutinizer in the presence of Ms. Suman Kapoor and Mr. Rahul Sharma. The resolutions were put to the vote and on the basis of Consolidated Scrutinizer Report, the aggregated results of the voting through e-voting and Poll conducted at the AGM is given below:

Ordinary businesses:

ITEMN0.1

To receive, consider and adopt (a) the audited financial statements of the Company comprising of the balance sheet as on March 31, 2019 and the statement of profit and loss along with cash flow statement for the financial year ended on March 31, 2019 and the reports of the Board of Directors and Auditors thereon; and (b) the audited consolidated financial statements of the Company for the financial year ended on March 31, 2019 and the report of the Auditors_ thereon and, to consider and pass, with or without modification(s), the following resolution as an Ordinary Resolution:

"Resolved that, the audited financial statements of the Company comprising of the balance sheet as on March 31, 2019 and the statement of profit and loss along with cash flow statement for the financial year ended on that date and the reports of the Board of Directors and Auditors thereon laid before the 8th Annual General Meeting of the members of the Company, be and are hereby received, considered and adopted."

"Resolved further that, the audited consolidated financial statements of the Company comprising of the balance sheet as on March 31, 2019 and the statement of profit and loss along with cash flow statement for the financial year ended on A ual March 31, 2019 and the report of Auditors thereon laid before the 8[th ] n General Meeting of the members of the Company, be and are hereby received, considered and adopted."

"Resolved further that, the Board of Directors of the Company be and is hereby authorized to do, perform and execute all such acts, deeds and things and to settle any question, difficulty or doubt, that may arise and to do all such ad;ll, deeds, matters and things as may be required and to sign and execute all docinnents or writings as may be deemed necessary, proper or expedient including to delegate for matters concerned therewith or incidental thereto for the., : .• - @ giving effect to this resolution." 3 \�(., , " � l \'?, ltj,P� �� ' �,�•·/ --,,._��"""'-"'

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Simbhaoli Sugars Limited

Voting results

Paiculas	Number of Votes Contained in	Number of Votes Contained in	Number of Votes Contained in	Percentage
	RemoteE votes	Poll though Physical Ballots at AGM	Total
Assent	2971	19844575	19847546	99.999
Dissent	26	0	26	0.001
Absti/Invald	0	0 .	0	0
Total	3207	198457	19847782	100
Outcome	Passed as an Ordina Resolution ,,

The resolution was passed with requisite majority.

ITEMN0.2

To consider and approve the appointment of a director in place of Mr. Sanjay Tapriya who retires by rotation and being eligible has offered himself for reappointment and to consider, and if thought fit, to pass, with or without modif cation (s), the following resolution, as an Ordinary Resolution:

"Resolved that, Mr. Sanjay Tapriya (DIN- 00064703),who retires by rotation' under Section 152 and other applicable provisions, if any, of the Companies Act, 2013 and the Rules made thereunder read with the Articles of Association of the Company, at the conclusion of 8[111 ] Annual General Meeting of the members of the Company, and being eligible, has offered himself for re-appointment, be and is hereby reappointed as a Director to the Board of the Company, whose period of office shall be liable to retire by rotation."

•'

"Resolved further that, the Board of Directors of the Company be and is hereby authorized to do, perform and execute all such acts, deeds and things ,and to settle any question, difficulty or doubt, that may arise and to do all such acts, deeds, matters and things as may be required and to sign and execute all documents or writings as may be deemed necessary, proper or expedient including to delegate for matters concerned therewith or incidental thereto for the purpose of giving effect to this resolution."

Voting results

RMAN'S TIALS

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Voting results
Paiculas	Nuber of Votes Contained in Perentage
	RemoteE votes		Poll though Physica Ballots at AGM Total
Asset	2971 1984575			1987546 9.9
Di ent	26 0			26 . 0.001
Abstn/Invald		0 0		0 / 0
Totl		3207 198475
Outcome
Te resoluton was passed wit requisite majority. ,' ' 4 ,,,� ·, ': - 1 \,,,-,, I�" e �V;'I � } ;,~-; , /·"'" � ,,,,; _.,,,; ., / . rr3�:>"'

The resolution was passed with requisite majority. � ,' ' 4

MINUTE BOOK Sirnbhaoli Su ars Limited

Special Business:

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"EGO
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ITEMN0.3

To consider and approve the continuation of appointment of Mr. Gurmit Singh Mann, as a Director of the Company with effect from April 1, 2019, who has completed the age of 75 years, and to consider, and it;_ thought fit, to pass, with or without modification (s), the following resolution, as a Special Resolution

"Resolved that, under the provisions of Section 152 and other applicable provisions, if any, of the Companies Act, 2013 and the Rules made there under read with the Articles of Association of the Company and Regulation No 17 (lA) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time, Mr. Gurmit Singh Mann (DIN- 00642094), who has attained the age of 75 years, continue to act as a Director to the Board of the Company with effect from April 1, 2019, whose period of office shall be liable to retire by rotation."

"Resolved .furt:her that, the Board of Directors of the Company be and is hereby authorized to do, perform and execute all such acts, deeds and things and to settle any question, difficulty or doubt, that may arise and to do al such acts;· deeds, matters and things as may be required and to sign and execute all documents or writings as may be deemed necessary, proper or expedient including to delegate for matters concerned therewith or incidental thereto for the purpose of giving effect to this resolution."

Voting results

Particulars	NuberofVotes Contained in Percentage
	RemoteE Poll through Total ' votes Physical Ballots at AGM
Assent	2971 1984575 198754 9.9
Di ent	26 0 26 0.001
Abst/Invad	0 0 0 0
Tot	3207 198457 1984782 100
Outome	Passed as a Speca Resoluton

The resolution was passed with requisite majority.

ITEMNO.4

To consider and approve the continuation of appointment of Mr. S K Ganguli, as a Director of the Company with effect from April 1, 2019, who has com.rleted the age of 75 years, and to consider, and if thought fit, to pass, witq/or without' modif cation (s), the following resolution, as a Special Resolution

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f[cable provisions, ] er read with the

"Resolved that, under the provisions of Section 152 if any, of the Companies Act, 2013 and the Rules

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Articles of Association of the Company and Regulation No 17 (IA) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time, Mr. SK Ganguli (DIN- 00058198), who has attained the age of 75 years, continue to act as an independent director to the Board of the Company with effect from April 1, 2019, till the unexpired period of his appointment upto November 8, 2020 as per resolution passed at 5[th] Annual General Meeting of the members of the Company held on Monday, Sept 26, 2016."

"Resolved further that, the Board of Directors of the Company be and is hereby authorized to do, perform and execute all such acts, deeds and things and t; settle any question, difficulty or doubt, that may arise and to do all such acts, deeds, matters and things as may be required and to sign and execute all documents or writings as may be deemed necessary, proper or expedient including to delegate for matters concerned therewith or incidental thereto for the purpose of giving effect to this resolution."

Voting results

Paculas	Nube of Votes Contained in		Percentage
	RemoteE Poll thug	Tota
	votes Phsical Baots at AGM
Assent Dissent	2971 198575 26 0	198754 26	9.9 0.001
Abst/Ivad Totl Outcome	0 0 3207 198457 Passed as a Special Resoluton	0 1984782	0 10

The resolution was passed with requisite majority.

IMN0.5

To consider and approve the continuation of appointment of Justice (Retd.) C K Mahajan, as a Director of the Company with effect from April 1, 2019, who has completed the age of 75 years, and to consider, and if thought fit, to pass, with or without modification (s), the following resolution, as a Special Resolution

RMAN'S TIALS

/ .

"Resolved that, pursuant to the provisions of Section 149, and 152 and other applicable provisions, if any, of the Companies Act, 2013 and rules made there under, read with Regulation No 17 (lA) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including any statutory modification(s) or re-enactment thereof for the time being in force, Justice (Retd.) C K Mahajan (DIN : 00039060), continue to act as an Independent Director to the Board of the Company with effect from April 1, 2019, till the unexpired peri)ii of his appointment upto November 8, 2020, as per resolution passed at efth Annual General Meeting of the members of the Company held on Monday, Sept 26, 2016." /,'Q--�-\ <:-(. -·-,., Ir-. 6 ·./ :! · ' \ ' I . 0,1-,. \ 1'•'·· !;: . /:,-�'c- . . ,,. :· . . . .-· . � / t :;-, i

MINUTE B·OOK

Simbhaoli Su ars Limited

REGO

"Resolved further that,. the Board of Directors of the Company be and is hereby authorized to do, perform and execute all such acts, deeds and things and to settle any question, difficulty or doubt, that may arise and to do all such acts, deeds, matters and things as may be required and to sign and execute all documents or writings as may be deemed necessary, proper or expedient including to delegate for matters concerned therewith or incidental thereto for the purpose of giving effect to this resolution."

Voting rcisults

Particulars	Number of Votes Contained in		Percentage
	RemoteE Poll through	Total
	votes Physical Ballots atAGM
Assent Dissent	2971 1984 575 236 0	19847546 236	99.999 0.001
Abstain/Invalid Total Outcome	0 0 3207 19844575 Passed as a Special Resolution	0 19847782	0 100

The resolution was passed with requisite majority.

ITEMN0.6

To consider and approve the appointment of Mr. H P Kain as a Director and to consider, and if thought fit, to pass, with or without modification (s), the following resolution, as an Ordinary Resolution:

"Resolved that, pursuant to the provisions of Sections 149, 150, 152 and any other applicable provisions of the Companies Act, 2013 (the Act) and the Companies (Appointment and Qualification of Directors) Rules, 2014 (including any statutory modification(s) or re-enactment thereof for the time being in force) read with Schedule N to the Act and Regulation 16(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), Mr. H P Kain (DIN: 08277248), who was appointed as an Additional Director of the Company by the Board of Directors with effect from November 14, 2018 in terms of Section 161(1) of the Act and Article 127 of the Articles of Association of the Company and whose term of office expires at the ensuing Annual General Meeting and who has submitted a declaration that he meets the criteria for independence as provided in the Act and Listing Regulations, be and is hereby appointed as an Independent Non-Executive Director to the Board of the Company to hold office for a term of five consecutive years with e f ect from November 14, 2018 to November 13, 2023." ., .,/

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Simbhaoli Sugars Limited

writings as may be deemed necessary, proper or expedient including to delegate for matters concerned therewith or incidental thereto for the purpose of giving effect to this resolution."

Voting results

	Particulars Number of Votes Contained in -Percentage RemoteE Poll through Total votes Physical Ballots atAGM Assent , 2971 19844575 19847546 99.,9
	Dissent 236 0 236 0.001 Abstain/Invalid 0 0 0 0 Total 3207 19844575 19847782 100 Outcome Passed as an Ordinary Resolution

The resolution was passed with requisite majority.

ITEMN0.7

To consider and approve the appointment of Ms. Gursimran Kaur Mann as the Managing Director and to consider, and if thought fit, to pass, Mth or without modification(s), the following resolution, as a Special Resolution:

"Resolved that, pursuant to the provisions of Sections 196, 197 and 198 read with Schedule V and other applicable prov i s ons, if any, of the Companies Act, 2013 (hereinafter refe r ed as the Act) and rules made thereunder, including any statutory modification(s) or re-enactment thereof for the time being in force, the consent of the members of the Company be is hereby accorded to the appointment of Ms. Gursimran Kaur Mann (DIN- 00642094) as the M a n ging Director of the Company with effect from February 14, 2019 to August 1, 2020 with a liberty to the Board of Directors (hereinafter referred to as the Board, which term sha l be deemed to include any Committee(s) constituted or to be constituted by the Board to exercise its powers including the powers conferred by this Resolution) for variation of the terms and conditions as set out in the explanatory statement, subject to the restrictions, if any, contained under the applicable prov i s ons of the Act or otherwise as may be applicable in law as follows:

Designation: Managing Director

Period: From February 14, 2019 to August 1, 2020

• I. Basic Salary: Rs. 4,00,000 per month with such increments as may be decided by the Board of Directors of the Company from time to time within the permi s ible limits under the provisions of the Act.

1RMAN'S TIALS

• II. Family Allowance: Rs. 2,00,000 per month with such increase � may be decided by the Board of Directors of the Company from time to l:in:}ef within the permissible limits under the provisions of the Act.

III. Bonus: The amount to be paid as per rules as applicable to the s m_ "::;::,.. employees of the Company. I .:.c'?."7. In,�� 8 IS·il� .' b,1 l,:I) ' .\ � �,9'·�!\ ··-. "/",� . ,, ,;-',;_:;c\;' ,>

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Simbhaoli Su ars Limited

REGO

IV. Perquisites: In addition to the Basic Salary and Family Allowanee,, she shall also be entitled to the following perquisites and allowances as may be decided by the Board of Directors of the Company from time to time within the permissible
limits under the provisions of the Act:
1. Housing:
a) Residential accommodation or House Rent Allowance to the extent of 60% of Basic Salary. ,,_ b) Expenses pertaining to gas, electricity, water and other utilities will be '1:Jome/ reimbursed by the Company. ,, c) The Company shall provide such furniture and furnishing as may be required by the Managing Director at her residence as per the rules of the
Company.
ii. Leave Travel Concession: Reimbursement of all the expenses (like travel fare, lodging, boarding, conveyance and other expenses) incurred for self and her family during leave travel periods, wherever undertaken, whether in India or abroad as per the rules of the Company. iii. Medical Reimbursement: Reimbursement of actual medical expenses incur ed in India and/ or abroad and including hospitalization, nursing home and surgical charges for self and her family. In case of any medical tre!ltment abroad, the travelling, boarding and lodging expenses for patient and one attendant will also be payable as per the rules of the Company. iv. Oub Memberships: Subscription or reimbursement of membership fe s for clubs in India and/ or abroad, including admission and life membei,ship fees as per the rules of the Company. v. Entertainment Expenses: Reimbursement of entertainment expenses incurred in the course of business as per the rules of the Company. vi. Personal Accident Insurance: Personal accident insurance policies in accordance with the Scheme applicable to senior grade employees as per the rules of the Company.
Explanation: Perquisites shall be evaluated as per Income Tax Rules, wherever applicable and in the absence of any such rule, perquis tes shall be evaluated at the cost on actual basis.
V. Commission:Commission at the rate of 1 % (one per cent) of the net profits of the Company for each financial year as may be computed, while approving the fina cial statements for the respective financial year by the Board and payable after adoption of the same at the Annual General Meeting of the members of the Company.

VI. Others:

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ii. Contribution to Superannuation Fund: Company's contribution to Superannuation Fund equivalent to 5% of Basic Salary or up to such amount, as may be decided by the Board of Directors of the Company from time to time within the permissible limits under the law. iii. Gratuity: Gratuity at the rate of one month's basic salary for each completed year of service subject to the Company's rules in this regard. iv. Leave Entitlement: As per the rules of the Company. However, encaslunent of the un-availed leave may be allowed by the Board at the end of the tenure. --

• v. Conveyance: Company's chauffeur driven car(s) for the business as per the rules of the Company.

• vi. Communication Facilities: The Company shall provide telephone, mobile handsets, telefax and other communication facilities to the Managing Director's at her residence as may be required for the Business of the Company.

• vii. Assistance: Managing· Director may also be provided assistance at her residence as may be required for the Business of the Company."

"Resolved further that, in case the Company has, in any financial year, no profits or if its profits are inadequate anytime during the period of appointme�t, the Managing Director shall be paid the aforesaid remuneration as the minimum remuneration, with the liberty to the Board of Directors to revise, amend, alter and vary the terms and conditions relating to the remuneration payable to the Managing Director in such manner as may be permitted in accordance with the provisions of Section II of Part II of Schedule V to the Companies Act, 2013 including any statutory modification(s) or re-ehactment thereof, as may be agreed to by and between the Board and the Managing Director."

"Resolved further that, the aforesaid appointment shall be subject to the following terms and conditions:

• of the Board and/ or Committe (s) thereof;

• i. Managing Director shall not be entitled to any sitting fee for attending me tings

• ii. The appointment may be terminated by either party giving the other party three months' notice or paying three months' salary in lieu thereof;

• iii. ff at any time the Managing Director ceases to be a director of the Company for any reason whatsoever, she shall cease to be the Managing Director of the Company; and

• iv. The office of the Managing Director will be subject to retirement by rotation."

IRMAN'S TIALS

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"Resolved further that, pursuant to the proVIS10ns of Section 197 and other applicable provisions, if any, of the Companies Act 2013 read with Schedule V ' thereto (including any amendment(s), statutory modification(s)or r�ctment(s) � thereof for the time being in force), Companies (Appointment and Remuneration of Remuneration Committee of the Board of Directors of the Company, the cons� Managerial Personnel) Rules 2014, and in recommendation of the Nomination �s t}�G the members of the Company be and is hereby accorded in case required need'� 'O!D,4 (U. 10 . ,

M I N UTE 8.0 0 K

Simbhaoli Sugars Limited

REG[)

to waive off the recovery of minimum remuneration paid or payable to the aforesaid Whole Time Director of the Company within the limits of the Schedule V to the Companies Act, 2013"

"Resolved further that, the Board of Directors of the Company be and is hereby authorized to alter and/ or vary the terms and conditions of the said appointment and/ or enhance, enlarge, alter or vary the scope �d quantum of remuneration, .. perquisites, benefits and amenities payable to Ms. Mann in accordance with the provisio� of the Act and rules made thereunder including any sra..tutory modification(s) or re-enactment thereof, for the time being in force and to do, perform and execute all such acts, deeds and things and to settle any question, di f culty or doubt, that may arise and to do all such acts, deeds, matters and things as may be required and to sign and execute all documents or writings as may be necessary, proper or expedient and for matters concerned therewith or incidental thereto for the purpose of giving effect to this resolution."

Voting results

Particulars	Number of Votes Contained in	Number of Votes Contained in		Percentage
	RemoteE	Poll through	Total	<
	votes	Physical Ballots at AGM
Assent	2971	19844575	19847546	99.999
Dis ent	236	0	236	0.001
Abstain/Invalid Total Outcome	0 0 3207 19844575 Passed as a Special Resolution		0 19847782	0 100

The resolution was passed with requisite majority.

ITEMN0.8

To consider and approve the Appointment of Mr. Sachchida Nand Misra as the Whole Time Director and Chief Operating Officer and to consider, and if thought fit, to pass, with or without modification(s), the following resolution, as a Special Resolution:

"Resolved that, pursuant to the provisions of Sections 196, 197 and 198 read with Schedule V and other applicable provisions, if any, of the Companies Act, 2013 . (hereinafter referred as 'the Act') and rules made there under, including any statutory modification(s) or re-enactment thereof for the time being in force, the consent of the members of the Company be and is hereby accorded for the appointment of Mr. S N Misra (DIN : 06714324) as the Whole Time Director of the Company, with effect from February 14, 2019 to September 17, 2020 wi� liberty to the Board of Directors (hereinafter referred to as the Board, which t�rm shall be deemed to include any Committee(s) constituted or to be COil§. t i d by the Board to · exercise its powers including the powers conferred/&� fhY,p� �olution) for variation of the terms and conditions as set out in the exp11f,� �•i\li,Wtali!fl\ent, subject 11 : 'U � r '':" \�-P.J � '/ "-:--'1� �w "-y t .. .'t '-' � ,�fa��-

CHAIRMAN'

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Simbhaoli Sugars 1:imited

to the restrictions, if any, contained under the applicable provisions of the Act or otherwise as may be applicable in law as follows:

Designation: Chief Operating Officer

Period: From February 14, 2019 to September 17, 2020

• I. Basic Salary: Rs. 2,12,000 per month, with such increments as may be decided by the Board of Directors of the Company fr0!11 time to time within the permissible limits under the provisions of the Act.

• II. Family Allowance: Rs.1,95,800 per month with such increase as may be decided by the Board of Directors of the Company from time to time within the permissible limits under the prov i s ons of the Act.

• Ill. Bonus: The amount to be paid as per rules as applicable to the senior grade

• employees of the Company.

• IV. Other emoluments, benefits and the perquisites as per service rules of the Company, as may be approved by the Board of Directors of the Company from time to ti..."'Ile.

Apart from the above, he shall also be entitled to the following benefits which shall not be included in computation of the aforesaid remuneration:

• i) Car fac i l ties for the business of the Company. The type make and m�del of the car shall be decided by the Board from time to time.

• ii) Reimbursement of travelling, boarding, lodging, hotel and other expenses incurred for the business of the Company as per the travelling policy of the Company.

• iii) Telephone/internet connection (s) to be 'used for the business of the Company.

• iv) Company's contribution to the provident fund, as per rules, presently to the extent of 12% of the Basic Salary.

• v) Gratuity payable at the rate not exceeding half a month's salary for each completed year of service in the Company subject to the Company's rules in this regard."

"Resolved further that, the aforesaid appointment shall be subject to the following terms and conditions:

• i) Chief Operating Officer shall not be entitled to any sitting fee for attending meetings of the Board and/ or Committee(s) thereof;

• ii) The appointment may be terminated by either party giving the other party two months' notice or paying two months' salary in lieu thereof;

• iii) If at any time the Chief Operating Officer ceases to be a director of the Company for any reason whatsoever, he may continue to act as the Chief Operating Officer on such terms and conditions as may be decided by the Board of Directors of the Company; and /" ,,

• iv) The office of the Chief Operating O f icer will be subject to retirement by

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,,, �

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IRMAN"S TIALS

12

Simbhaoli Sugars Ieimited

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REGD
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"Resolved further that, in case the.Company has, in any financial year, no profits or if its profits are inadequate anytime during the period of appointment, the Whole Time Director shall be paid the aforesaid remuneration as the minimum remuneration, with the liberty to the Board of Directors to revise, amend, alter and vary the terms and conditions relating to the remuneration payable to the Whole Time Director in such manner as may be permitted in accordance with the provisions of Section II of Part II of Schedule V � the Companies Act, 2013 .. including any statutory modification(s) or re-enactment thereof, as may be agreed .- to by and between the Board and the Whole Time Director."

"Resolved further that, pursuant to the provis10ns of Section 197 and other applicable provisions, if any, of the Companies Act 2013 read with Schedule V thereto (including any amendment(s), statutory modification(s)or re-enactment(s) thereof for the time being in force ), Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014, and in recommendation of the Nomination and Remuneration Committee of the Board of Directors of the Company, the consent of the members of the Company be and is hereby accorded that if necessary, to waive off the recovery of minimum remuneration paid or payable to the aforesaid Whole Time Director of the Company within the limits of the Schedule V to the Cozn,panies Act, 2013"

"Resolved further that, the Board of Directors of the Company be and are hereby authorized to alter and/ or vary the terms and conditions of the said appointment and/ or enhance, enlarge, alter or vary the scope and quantum of remuneration, perquisites, benefits and amenities payable to Mr. Misra in accordance with the provisions of the Act and rules made thereunder including any statutory modification(s) or re-enactment thereof, for the time being in force and to do, perform and execute all such acts, deeds and things and to settle any question, di f culty or doubt; that may arise and to do all such acts, deeds, matters and things as may be required and to sign and execute a l documents or writings as may be necessary, proper or expedient and for matters concerned therewith or incidental thereto for the purpose of giving effect to this resolution."

Voting results

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Particulars Number of Votes Contained in Percentage
RemoteE Poll through Total
votes
Physical Ballots at AGM
Assent 2971 . 19844575 19847546
Dissent 236 0 236 0.001
0 . 0 0 0
Abstain/Invalid
Total 3207 19844575 19847782 � [100 ]
Outcome Passed as a Special Resolution f ,
99.999
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The resolution was passed with requisite majority.

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CHAIRMAN'

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13

MINUTE BOOK

Simbhaoli Sugars Limited

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ITEMN0.9

To consider and approve the remuneration to be paid to Mr. Satnam Singh Saggu as the cost auditor and to consider, and if thought fit, to pass, with or without modification (s), the following resolution, as an Ordinary Resolution:

"Resolved that, pursuant to the provisions of Secti�n 148 and other applicable provisions, if any, of the Companies Act, 2013 .,;,d rules made there under including any statutory modification(s) or re-enactment thereof for the �-being in force, the consent of the members of the Company, be and is hereby accorded for the payment of remuneration of Rs 3 lakh plus other out of pocket expenses as may be incurred on the concerned assignment for the financial year 2019-20, as may be approved by the Board, to Mr. Satnam Singh Saggu, Cost Accountant (Membership Number 10555), who has been re-appointed as the Cost Auditors for audit of the cost accounting records of the Company."

"Resolved further that, the Board of Directors of the Company be and is hereby authorized to do, perform and execute all such acts, deeds and things and to settle any question, di culty or doubt, that may arise and to do all such acts, deeds, matters and things as may be required and to sign and execute all documents or writings as may be necessary, proper or expedient including to delegate for matters concerned therewith or incidental thereto for the purpose of giving e ect to this resolution."

Voting results

Par	ticuas	Number of Votes Contained in Percentage RemoteE Poll through Total votes Physical Ballots at AGM
Assent		297 1984457 19847546 9.99 236 0 236 0.001
Dissent
Abstai/Invad		0 0 0 0
Tot		3207 19857 19847782 100
Outome		Passed as an Ordnar Resolution

The resolution was passed with requisite majority.

Vote of thanks

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