Welspun Corp Limited — AGM Information 2021

Sep 1, 2021

September 1, 2021

WCL /SEC/2021

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To,

( (	BSE Ltd. Listing Department, P. J. Towers, Dalal Street, Mumbai – 400 001. Scrip Code: Equity - 532144), NCD– 948505, 960468, 960491 and 973309)	National Stock Exchange of India Ltd. Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051. (Symbol: WELCORP, Series EQ)

Dear Sir / Madam,

Sub.: Compliance of Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In compliance with the Regulation 30(6), Part-A of Schedule-III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit herewith the brief proceedings of the 26[th] Annual General Meeting (AGM) of the Company held on Tuesday, August 31, 2021 at 12:30 p.m. through video conferencing and concluded at 13:13 p.m.

The following directors were present during the meeting:

1.	Mr. B.K. Goenka	Chairman & Non-Executive Director
2.	Mr. K.H. Viswanathan	The Lead Independent Director and the Chairman of the Audit Committee, the Stakeholders and Investor Grievance Committee, the ESG & CSR Committee and the Nomination & Remuneration Committee
3.	Ms. Amita Misra	An independent director and the Chairperson of the Risk Management Committee
4.	Mr. Desh Raj Dogra	An Independent Director and Chairman of the Finance & Administrative Committee
5.	Ms. RevathyAshok	Independent Director
6.	Ms. Dipali Goenka	Non-Independent,Non-Executive Director
7.	Mr. Rajesh Mandawewala	Non-Independent,Non-Executive Director
8.	Mr. Vipul Mathur	ManagingDirector & CEO

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Following were also present during the meeting:

1. Mr. Percy Birdy – Chief Financial Officer

2. Mr. Pradeep Joshi – Company Secretary and Compliance Officer

3. Ms. Mansi Damania – Scrutinizer

4. Representatives of the Statutory Auditors

Total Members Present: 49

Brief proceedings of the meeting are as under :

1. Mr. B. K. Goenka, occupied the chair and welcomed the members, Directors and other participants present in the meeting.

2. The requisite quorum being present, the Chairman called the meeting to order.

3. Statutory registers, certificates and other documents were kept digitally available for inspection by the members.

4. The Chairman then addressed to the members and briefly explained the performance of the Company and current scenario.

5. The Secretary explained the resolutions to the members and voting process and mentioned that pursuant to the provisions of Companies Act, 2013, all Members had been provided the facility to vote by remote e-voting which commenced at 09:00 a.m. on Saturday, August 28, 2021 and ended at 05:00 p.m. on Monday, August 30, 2021. He further mentioned that those Members who could not vote by remote e-voting may cast their votes electronically during the meeting.

6. The Resolutions as mentioned in the Notice of AGM were transacted at the meeting as follows:

7. (i) Members by an ordinary resolution have approved and adopted the audited standalone financial statements of the Company for the financial year ended March 31, 2021 together with the Auditor’s Report and the Directors’ Report thereon.

8. (ii) Members by an ordinary resolution have approved and adopted the audited consolidated financial statements of the Company for the financial year ended March 31, 2021 together with the Auditor’s Report and the Directors’ Report thereon.

9. (iii) Members by an ordinary resolution have declared a dividend @Rs. 5/- (subject to applicable tax) per equity share of face value of Rs.5/- each (i.e.100%) on 260,949,395 equity shares aggregating to Rs.1,304,746,975/-.

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• (iv) Members by ordinary resolution have approved re-appointment of Mr. Rajesh Mandawewala (DIN: 00007179) as a director, liable to retire by rotation.

• (v) Members by a special resolution have approved the appointment of Ms. Dipali Goenka as non-executive, non-independent director, liable to retire by rotation.

• (vi) Members by a special resolution have approved re-appointment of Mr. Desh Raj Dogra as an Independent Director of the Company for four consecutive years w.e.f. February 10, 2022.

• (vii) Members by a special resolution have approved the payment of remuneration by way of commission @1% of the consolidated Net Profits of the Company to Mr. B.K. Goenka, NonExecutive Chairman for a period of five financial years commencing from April 1, 2021.

• (viii) Members by an ordinary resolution have ratified the remuneration to M/s. Kiran J. Mehta, Cost Accountants as Cost Auditors of the Company for the Financial Year 2021-22.

• (ix) Members by a special resolution have approved borrowings not exceeding Rs.500 crores, by issue of securities on a private placement basis.

• (x) Members by a special resolution have approved granting loan, giving guarantee or providing security in respect of specified loans to Welspun Steel Limited and / or Welspun Specialty Solutions Limited.

• The queries raised by the members were responded by the Company.

The Chairman then thanked the Members and other attendees for participating in the meeting and informed that combined results of remote e-voting and voting during the AGM will be announced and made available on the website of the Company and will also be submitted to the stock exchanges as per the requirements under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Thanking you.

Yours faithfully,

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