Voltas Ltd. — AGM Information 2024

Jul 10, 2024

10[th] July, 2024

BSE Limited National Stock Exchange of India Limited Department of Corporate Services Listing Department 1[st] Floor, Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Bandra-Kurla Complex, Bandra (East) Mumbai 400 001 Mumbai 400 051 Scrip Code: 500575 NSE Symbol: VOLTAS

Dear Sir,

Sub: Summary of proceedings of the 70[th] Annual General Meeting of the Company held on 10[th] July, 2024

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As per the requirement of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the summary of proceedings of the 70[th] Annual General Meeting of the Company held on 10[th] July, 2024.

Thanking you,

VOLTAS LIMITED

VARUN Digitally signed by VARUN PRAKASH PRAKASH MALHOTRA MALHOTRA Date: 2024.07.10 22:16:00 +05'30'

V. P. Malhotra Head- Taxation, Legal & Company Secretary

Enc.

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Summary of the Proceedings of the 70[th] Annual General Meeting of the Company

The 70[th] Annual General Meeting (AGM / Meeting) of Voltas Limited (the Company) was held on Wednesday, 10th July, 2024 at 3.00 p.m. through Video Conferencing (‘VC’) / Other Audio Visual Means (‘OAVM’) pursuant to Circular No. 09/2023 dated 25th September, 2023 issued by the Ministry of Corporate Affairs (MCA) and Circular dated 7[th] October, 2023 issued by the Securities and Exchange Board of India (SEBI).

The Company Secretary welcomed the Members to the Meeting and explained them the procedural/technical points relating to the participation at the Meeting and also informed that the Company had provided its Members, the facility to cast their vote electronically through the National Securities Depository Limited (NSDL) system before the Meeting. He further informed that the e-voting facility was also made available during the AGM for the benefit of Members who were present during the Meeting and had not cast their votes earlier through remote e-voting.

Mr. Noel N. Tata, Chairman of the Company chaired the Meeting. Mr. Noel N. Tata is also the Chairman of Shareholders’ Relationship Committee and Corporate Social Responsibility Committee, respectively. Mr. Pradeep Bakshi, Managing Director & CEO attended the Meeting along with Mr. Noel N. Tata from the same venue. The Chief Financial Officer and all other Directors, except Mr. Zubin Dubash, attended the Meeting through VC from their respective locations including Mr. Bahram N. Vakil, Chairman of the Nomination & Remuneration Committee. Mr. Jayesh Merchant duly authorized by Mr. Zubin Dubash, Chairman of the Audit Committee and Risk Management Committee attended the Meeting on his behalf. In terms of the MCA Circulars and SEBI Circular, the requirement of appointing proxies was not applicable. The requisite quorum being present, the Chairman called the Meeting to order. The Registers as required under the Companies Act, 2013 were available for inspection.

Ms. Aruna Kumaraswamy, Partner of SRBC & Co LLP, Statutory Auditors and Mr. Bhaskar Upadhyay, Partner of M/s. N. L. Bhatia & Associates, Secretarial Auditors were also present at the Meeting through VC.

With the consent of the Members, the Notice convening the 70[th] AGM was taken as read. As the Auditors Report on the Financial Statements (Standalone and Consolidated) for the year ended 31st March, 2024, had no qualifications, reservations, observations, adverse remarks or disclaimer, the same was not read by the Company Secretary.

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The Chairman made his opening remarks, including on the business operations and financial performance of the Company.

The Chairman informed that the Board had appointed Mr. Bhaskar Upadhyay of M/s. N. L. Bhatia & Associates, Practicing Company Secretaries as the Scrutinizer to scrutinize the remote e-voting process as well as e-voting at the AGM in a fair and transparent manner and he was present at the Meeting.

The Chairman then requested the Members to express their views, ask questions and seek clarifications, if any. The Chairman suitably responded to the questions asked by the Members at the Meeting.

The following Resolutions set out in the Notice dated 7[th] May, 2024 convening the 70[th] AGM were put to vote by remote e-voting and e-voting during the Meeting:

Sr. No.	Items	Resolution
Ordinary Business:
1	To receive, consider and adopt the Audited Stand-alone Financial Statements of the Company for the financial year ended 31st March, 2024 together with the Reports of the Board of Directors and the Auditors thereon.	Ordinary
2	To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2024 together with the Report of the Auditors thereon.	Ordinary
3	To declare a dividend on Equity Shares for the financial year ended 31st March, 2024.	Ordinary
4	To appoint a Director in place of Mr. Pradeep Kumar Bakshi (DIN: 02940277), who retires by rotation and being eligible offers himself for re-appointment.	Ordinary
5	To appoint a Director in place of Mr. Vinayak Deshpande (DIN: 00036827), who retires by rotation and being eligible offers himself for re-appointment.	Ordinary
Special Business:
6	Revision in terms of remuneration of Mr. Pradeep Kumar Bakshi, ManagingDirector & CEO of the Company.	Ordinary
7	Ratification of Cost Auditor’s Remuneration for the financialyear ending31stMarch, 2025.	Ordinary

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The Chairman thanked the Members for attending and participating in the Meeting and stated that the e-voting facility would be kept open for the next 15 minutes to enable the Members to cast their vote. The Chairman authorized Mr. V. P. Malhotra, Company Secretary to carry out the voting process and conclude the Meeting. Mr. Malhotra was also authorized to declare the consolidated voting results of the remote e-voting and e-voting at the AGM.

The Chairman informed the Members that the consolidated voting results of the remote e-voting and e-voting at the AGM along with Scrutinizer’s Report would be submitted to the Stock Exchanges and also made available on the websites of the Company and NSDL within 2 working days of the conclusion of the Meeting.

The e-voting facility remained available until 15 minutes after the conclusion of the Meeting’s proceedings allowing Members to cast their votes. Upon completion of the e-voting process, the Company Secretary declared the Meeting as closed at 5.18 p.m.

The Scrutinizer’s Report was received after conclusion of the Meeting on 10th July, 2024 and as set out therein, all the aforesaid Resolutions were declared passed with requisite majority.

10.7.2024

VOLTAS LIMITED

VARUN Digitally signed by VARUN PRAKASH PRAKASH MALHOTRA MALHOTRA Date: 2024.07.10 22:16:28 +05'30'

V. P. Malhotra Head- Taxation, Legal & Company Secretary

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