Shri. M. H. Kulkarni, Managing Director & CEO welcomed the shareholders to the meeting. He informed the shareholders that in terms of the Articles of the Association of the Company, in the absence of the Chairman, the Chairman for the meeting could be elected amongst the Directors present.
Shri. K. P. S. Dagur then proposed the name of Shri. S. Ravi as the Chairman of the meeting. Shri. A. K. Goyal seconded the same. The motion was put for voting. The motion was carried out unanimously. Shri. S. Ravi assumed the Chair as Chairman of the meeting and called the meeting to order.
The Chairman then directed the Company Secretary to inform the provisions relating to the quorum and whether the requisite quorum was present for the commencement of the meeting. Shri. Madhusudan Parkhi, Company Secretary informed the Chairman that the following members were present:
Sr. No. |
Name of the Shareholders |
Shareholding |
1. |
IDBI Bank Ltd. (IDBI) ** |
16,49,76,820 |
2. |
IDBI Jt. – Shri. A. K. Goyal |
1 |
3. |
IDBI Jt. – Shri. Suman Kumar |
1 |
4. |
IDBI Jt. – Shri. Rajinder Kumar |
1 |
5. |
IDBI Jt. – Shri. K. P. S. Dagur |
1 |
** Represented by Shri. K. P. S. Dagur under Section 187 of the Companies Act, 1956 |
The Company Secretary informed that 4 members jointly holding 1 Equity Share each with IDBI Bank Ltd. were personally present while representation under Section 187 of the Companies Act, 1956 was received from IDBI Bank Ltd. authorising Shri. K. P. S. Dagur as its authorised representative.
In view of the same, in terms of the provisions of Companies Act, 1956 and the Articles of Association of the Company, the requisite quorum was present. The members present as above together hold 16,49,76,824 Equity Shares of the Company which represents nearly 100% of the Paid-up Share Capital of the Company.
The Company Secretary also informed that the 10th Annual General Meeting was convened at a shorter notice and the company had obtained the consent from all the shareholders for the same.
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