Vama Industries Limited — AGM Information 2021

Oct 1, 2021

VAMA INDUSTRIES LIMITED S

Registered Office: Ground Floor, 8-2-248/1/7/78/12,13, Block -A, Lakshmi Towers, Nagarjuna Hills, Punjagutta, Hyderabad - 500 082, Telangana, India. Ph : +91-.40-6684 5534, 6661 9919, 6661 5534, Fax: +91-40-23355821. CIN: L72200TG1985PLC041126, E-mail: services@vamaind.com, Website: www.vamaind.com

Date: 015t October 2021

To The Department of Corporate Services SSE Limited, PhirozeJeejebhoy Towers, Dalal Street, Mumbai - 400 001.

Dear Sir

Sub: proceedings of the 36th Annual General Meeting

Ref: Scrip Code: 512175 - Varna Industries Limited

We refer to the above captioned subject, we herewith submit to you proceedings of the 36th AGM of the company held on 30th September, 2021.

This is for your information and necessary records.

Thanking You,

Yours Truly

For Varna Industries Limited

¥.Atc-L,.".L.. L £1

v. Atchyuta Rama Raj Chairman & Managing Director (DIN: 00997493)

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VAMA INDUSTRIES LIMITED ^A

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.. S Registered Office: Ground Floor, 8-2-248/1/7/78/12, 13, Block -A, Lakshmi Towers, Nagarjuna Hills, Punjagutta, Hyderabad - 500 082, Telangana, India. Ph : +91-40-6684 5534, 6661 9919, 6661 5534, Fax: +91-40-2335 5821. CIN: L72200TG1985PLC041126, E-mail: services@vamaind.com, Website: www.vamaind.com

SUMMARY OF THE PROCEEDINGS OF 36TH ANNUAL GENERAL MEETING OF VAMA INDUSTRIES LIMITED HELD AT OS.40'P.M. ON THURSDAY, 30TH DAY OF SEPTEMBER, 2021 THROUGH VIDEO CONFERENCING (VC)I OTHER AUDIO-VISUAL MEANS (OAVM).

PRESENT THROUGH VIDEO CONFERENCING/OTHER AUDIO VISUAL MEANS

DIRECTORS:

• 1. Mr. V. Atchyuta Rama Raju
• 1. Mr. V. Srinivas
• 1. Mr. M. Satish
• 1. Mr. S. B. V Subrahmanyam Alumolu
• 1. Mrs. R. Rama Sravanthi

6. Mrs. Parvathi Vegesna

ALSO PRESENT:

BY INVITATION:

• Managing Director (In the Chair)
• Independent Director
• Independent Director
• Independent Director
• Non-Executive Director
• Executive Director
• 1. Mr. G. Siva Chief Financial Officer
• 1. CA V.N.S Srinivasarao Proprietor, VNSS & Associates, Statutory Auditors
• 1. CS Vikas Sirohiya Scrutinizer

Total members attended for the meeting: 43

The meeting commenced at 05.40 P.M. and concluded at 06.40 P.M.

Mr. Vikas Sirohiya, extended a warm welcome to one and all, who registered their presence at the 36th Annual General Meeting (AGM) of the Company. Having done so, he apprised the participants that in view of the pandemic Covid 19, the instant AGM is being conducted through Video Conferencing/Other Audio Visual Means (VC), in compliance with applicable provisions of the Companies Act, 2013 read with relevant circulars issued by the Ministry of Corporate Affairs (MCA).

He sought the permission of the Chair in providing assistance for conducting the Meeting. After the formal appraisal, Mr. Vikas Sirohiya extended a warm welcome to all the Directors present in the Meeting including Mr. V. Srinivas, the Chairman of Audit Committee and Mr. S. B. V Subrahmanyam Alumolu, Chairman of Nomination and Remuneration Committee and Stake Holders Relationship Committee as required and in' compliance with the provisions of the Companies Act, 2013. He also noted the presence of Statutory Auditors in the Meeting. Further, he apprised the participants of key points regarding the participation at the meeting. Further, he

informed that the Registers as required under Companies Act 2013 are open for inspection. Subsequent upon the said, he apprised the participants with the e voting facility being provided at theAGM.

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The Scrutinizer briefed the members about his-appointment as such and informed the members that pursuant to the provisions of the Companies Act, 2013 and other applicable r.ules and regulations, the Company has arranged for e-voting facility to its members in respect of all the businesses to be transacted at the 36thAGM of-the~'Company. He further mentioned that the remote e-voting commenced on 27th Septembe'r,' 2021 (9:00 hours) and ended on 29th September, 2021 (17:00 hours) ..

Further, he informed that the members could opt for only one mode of voting i.e., either through remote e-voting or by venue voting. Members who did not already cast their vote by remote evoting could exercise their right at the Meeting.

Subsequent upon the said, Mr. Vikas Sirohiya requested the Chairman, Mr. V. A Rama Raju, to take over the proceedings of the Meeting.

Mr. V. Atchyuta Rama Raju, commenced the proceedings of the Meeting. He welcomed the shareholders and others to the 36thAnnual General Meeting of the Company.

He announced the presence of requisite quorum and called the Meeting to order,

He, then announced that since the Annual Report has already been circulated, the same is being taken as read.

The Chairman commenced his ceremonial address enquiring about the good health and wellbeing of the shareholders. He briefed the membE(rs about the Business Operations And Outlook of the Company. He mentioned that VAMA is a System Integrator providing solutions to Space and Defence customers and has started supporting Cloud Projects. He, further mentioned that Varna has started supporting High Performing Computing Services and cloud services which are in high demand globally, which have tremendous growth prospects in the future. Further, he mentioned that VAMA has been implementing projects all over India for Defence, Space, C-DAC, sectors and is taking up turnkey projects.

Further, he apprised the members of the Future Outlook of the Company vis a vis Covid -19.

Further, he also apprised the members of the performance of the Company during the first quarter of the current FY (i.e., FY 2021-22).

Further, he expressed that the management is all geared up to face any challenge and overcome any contingency with absolute resilience.

Subsequently, the Statutory Auditor was requested to read out his Report. The Statutory Auditor read out the key excerpts from his Report and was then taken as read.

The forum was thrown open to the members for their queries I clarifications and address.

The names of the speakers, who had already registered as such, were read out in serial order.

The members, turn by turn, expressed their views, sought additional clarifications on various matters concerning the business operations of the Company, and offered their suggestions. However, owing to poor audio quality, there was lack of clarity in their speech.

Mr. V. Atchyuta Rama Raju, provided clarifications to the satisfaction of members. ,

Members also expressed their good wishes for the future of the Company.

It was assured that the detailed clarifications would be provided by way of mail, if required.

In order to avoid repetition and to save the shareholders precious time, the draft resolutions, forming part of Notice of AGM, a copy of which was circulated well in advance and was also available with them, were taken as read. The items of business were read out before the Meeting in the chronological order as laid in the Notice, as follows:

Ordinary Business

Proposed as ordinary resolution(s):

• Item 1: Adoption of Financial Statements (Standalone & Consolidated) for the FY ended 31st March, 2021.
• Item 2: Re-appointment of Mrs. V ..parvathi, to the Office of Director retiring by rotation.

SPECIAL BUSINESS:

• Item 3: Re-Appointment of Mr. Vegesna Atchyuta Rama Raju (DIN: 00997493), to the office of Managing Director
• Item 4: Appointment of Mr. S. B.V. Subramanyam Alumolu (DIN: 07483603), to the office of Independent Director of the Company
• Item 5: Appointment of Mr. Satish Marlapudi (DIN: 09115483), to the office of Independent Director of the Company

He, further informed that e voting facility will remain open for next fifteen minutes, to enable those members who have not casted their votes but would like to caste their vote in the additional time.

The members were informed that the results of e-voting along with the Scrutinizer's Report shall be submitted to the Stock Exchanges and the same shall be placed -on the website of the Company.

The resolutions, if passed, shall be considered as passed effective 30th September, 2021.

Then the meeting concluded with vote of thanks.

The e-voting facility was kept open for the members.

For Varna Industries Limited

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V. Atchyuta Rama Raju Chairman & Managing Director DIN: 00997493