r~r~3 - midhani-india.in
Transcript of r~r~3 - midhani-india.in
MDN/CS/SE/COMPLIANCE/SCR/21
To,
BSE Limited,P.i. Towers, V~ Floor,Dalal Street
Mumbai- 400001
National Stock Exchange of India Limited,Exchange Plaza, C/i, G BlockBandra Kurla Complex, Bandra (East),Mumbai —400051
Scrip Code: 541195 Trading Symbol: MIDHANI
Sub: Submission Annual Secretarial Compliance Report in compliance of Regulation 24A 0the Securities and Exchange Board of India (Usting Obligations and DisclosureRequirements) Regulations, 2015 (“SEBI LODR”)
Dear Sir/Madam,
In terms of SEBI Circular bearing no. CIR/CFD/CMD1/27/20i9 dated 8th February, 2019and Regulation 24A of the SEBI LODR, please find enclosed Annual Secretarial ComplianceReport of Mishra Dhatu Nigam Limited for the financial year ended 3l~ March, 2021.
This is for your information and records.
Thanking You,
Encl:a/a
Yours Faithfully,ishra Dha
ul Anto
Compart~5 cretary & Compliance Officere-mail: [email protected]
jtfar tT9 f~’m r~r~3 MISHRA DHATU NIGAM LIMITED(‘ma ~n wi ~m) (A Govt. of India Enterprise)
*kl~a ~i4ig: taft. ~ ~q~igig, ~iiy.ii -500058 Registered Office: RO. Kanchanbagh, Hyderabad, Telangana-500058q~p~ Telephone: 040-24184000, ~ Fax: 040-24340039
rtim~ qnm t CIN: L14292TG1973G01001660~gtii~e Website: www.midhani-india.in
I
June 28, 2021
R&A Assocletes T 202, Technopolls, 1 10-74/B
Ld Above Ratnede -1074/B
Chlikoti Garde e Market Hyderabad. 500014 +91 40-4003 2244.47
[email protected] www.RnA-cs.com Hyderabud i GMOon ChennaiI MumbalAmarovol
Secretarial Compliance Report of Mishra Dhatu Nigam Limited for the year ended 31st March, 2021.
We have examined:
(a) all the documents and records made available to us and explanation provided by MISHRA DHATU NIGAM LIMITED ("'the listed entity"),
(b) the filings/ submissions made by the listed entity to the Stock Exchanges,
(c)website of the listed entity,
(d) any other document/ filing, as may be relevant, which has been relied upon to make this certification,
For the year ended 31st March, 2021 ("Review Period") in respect of compliance with the
provisions of:
(a) the Securities and Exchange Board of India Act, 1992 ("SEBI Act") and the Regulations, circulars, guidelines issued there under; and
b) the Securities Contracts (Regulation) Act, 1956 ("SCRA"), rules made there under and the Regulations, circulars, guidelines issued thereunder by the Securities and Exchange Board of India ("SEBI");
The speciic Regulations, whose provisions and the circulars/ guidelines issued there under, have been examined, include:
(a) Securities and Exchange Board of India (Listing Obligations and DisclosureRequirements) Regulations, 2015, as amended;
(b) Securities and Exchange Board of India (Issue of Capital and Disclosureequirements) Regulations, 2018; (Not Applicable to the Company during the
review period)
(c) Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 as amended;
(d) Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018; (Not Applicable to the Company during the review period)
(eSecurities and Exchange Board of India (Share Based Employee Benefits) Regulations,2014; (Not Applicable to the Company during the review period)
Hyd-16 Cretarie Secte mpany
R&A AssoclatesT 202, Technopolls, 1 10 74/8
Above Ratnadoep Super Market Chikotl Gardens, BegumpetHyderabad 500016. Indla
+91 40-4003 2244 . 47 [email protected] I www.RnA-cs.com Hyderstad iGugnon Chenat Mumbai I Amoravati
( Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008; (Not Applicable to the Company during the review period)
(g) Securities and Exchange Board of India (lssue and Listing of Non- Convertible and
Redeemable Preference Shares) Regulations, 2013; (Not Applicable to the Company during the review period)
(h) Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations,
2015, as amended;
() Securities and Exchange Board of India (Depositories and Participants) Regulations,2018;
G) Securities and Exchange Board of India (Debenture Trustee) Regulations, 1993; (Not Applicable to the Company during the review period);
circulars/ guidelines issued thereunder;
And based on the above examination and considering the relaxations granted by the Ministry of Corporate Affairs and Securities and Exchange Board of India warranted due to the spreadof the COVID-19 pandemic, we hereby report that, during the Review Period:
(a) The listed entity has complied with the provisions of the above Regulations and circulars/ guidelines issued thereunder, except in respect of matters specified below:
Deviations Compliance Requirement (Regulations/ Circulars/Guidelines
including Specific Clause)
Observations/ Remarks of the Practicing Company
Secretary
Sr. No.
Regulation 17(1)(a) of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015:
As on 31st March, 2021,the Board of Directors
As on 31st March, 2021, the
Listed Entity is not meeting the requirement specified under Regulation 17(1)(a) of SEBI (ListingObligations and Disclosure
Requirements) Regulations, 2015.
1
of the Listed Entity does not have at least Board of Directors shall have an one Woman Directoroptimum combination of executive
and non-executive Directors with at on their Board and the Composition of the Board of Directors does
least One Woman Director and not less than 50% of the Board of Directors shall comprise of Non- Executive directors.
not comprise of at least 50% of the Directors as Non-Executive Directors.
Proviso to Regulation 17(1)(a) of the SEBI (Listing Obligations and Disclosure Requirements)
The Listed Entity being one of the top 500
Listed Entity does not
2. As on 31st March, 2021, the Listed Entity is not meeting the requirement
Hyd16 Cretari
any o
R &A Assoclates
T202, Technopolis, 1-10-74/B ADOve Ratnadeep Super Market
Chlko Gardens, Begumpet Hyderabad- 500016. Indla
+91 40-4003 2244 47 Hyderatbad non Chonnei i Mumb 1 Anaravat ntooRnA-cs.com www.RnA-cs.com
Sr. Compliance Requirement (Regulations/ Circulars/ Guidelines
including Specific Clause)
Deviations Observations/ Remarks of the Practicing Company
Secretary No.
Regulations, 2015: have at least one specified under proviso to Regulation 17(1)(a) to of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015..
The Board of Directors of the top 500 listed entities shall have at least one
Independent WomanDirector on the Board.
Independent Woman Director by April 1, 2019 and the Board of Directors of the top 1000 listed entities shall have at least one
Independent Woman Director by April 1, 2020.
3. Regulation 17(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
Since, the Chairman of the Listed Entity is an Executive Director, the
As required underRegulation 17(1)(b) of the SEBI (Listing Obligations and Disclosure Where the listed entity does not have
a regular Non Executive Chairperson at least half of the Board of Directors
Listed entity shall have at least have at least Requirements)
Regulations, 2015, the Listed Entity does not have at least half of the
half of the Board of Directors as shall comprise of Independent
Directors. Independent Directors. Board of Directors as
However, as on 31st March, 2021 the Listed Entity does not have
any Independent Directors on their
Board.
Independent Directors.
Regulation 17(1)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
As on 31st March, 2021
the Listed Entity have only 3 Directors on their Board.
As required under
Regulation 17(1)(©) of the SEBI (Listing Obligations and Disclosure
The Board of Directors of the top 1000 listed entities (with effect from April 1, 2019) shall comprise of not less than 6 Directors.
Requirements)Regulations, 2015, the Listed Entity does not have at least 6 Directors on their Board.
5. Regulation 17 (2A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: The quorum for every meeting of the
The Listed Entity has As on 31st March, 2021 the Listed Entity does not have any
convened the Board Meetings held on 11th
1A Hyte Tetaries
Secrepany
R&A Assoclates
d T 202, Technopolls, 1-10 74/B
Above Ratnadeep Super Market
Chikoti Gardens, Begumpet Hyderabad 500016. Indla
+91 40-4003 2244-47 [email protected] I www.RnA-cs.com Hyderabnd Gurgeon I Chernoi 1 Mumbal Amaravoti
Observation/ Remarks of the Practicing Company
Secretaryy
Deviations Compliance Requirement (Regulations/Circulars/ Guidelines
including Specific Clause)
Sr. No.
board of directors of the top 1000
listed entities with effect from April1, 2019 and of the top 2000 listed entities with effect from April 1, 2020 shall be one-third of its total strength or three directors, whichever is
Independent Director on their Board.
November 2020, 17th December 2020, 12th February 2021 and 15th March 2021 without the presence of Independent
Directors as the Listed Entity does not have any Independent Directors on their Board with effect
higher, including at least oneIndependent Director.
from 08th October, 2020.
Regulation 18(1)(a) &(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
As on 31st March, 2021,the Listed Entity does not have any Independent Director
As on 31st March, 2021, Audit Committee of the
6.
listed entity is not meeting with the requirements specified under
Regulation 18(1)(a) and (b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Every listed entity shall constitute Independent Audit Committee with minimum 3 Directors as its members
on their Board.
and with Two-thirds of its membersas the Independent Directors.
Regulation 18(2) (a) &(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
7. The audit committee As required under Regulation 18(2) (a) of the SEBI (Listing Obligations and Disclosure
didn't meet atleast four times in a year and the quorum for such Meetings did not comprise of at least two Independent Directors.
The audit committee shall meet at least four times in a year and not more than one hundred and
Requirements) Regulations, 2015, the Audit Committee of the
twenty days shall elapse between two meetings.
Listed Entity has not met at least four times in a year and the quorum for the Audit Committee
The quorum for audit committee meeting shall either be two members or one third of the members of the audit committee,whichever is greater, with at least two independent directors.
Meetings held on 30th June 2020 and 11h September, 2020 is not in line with Regulation 18(2) (b) of the SEBI (Listing Obligationsand Disclosure
CIA Requirements)Regulations.
Hd-16
mpany eCretari
R&A Assoclates T 202. Technopolis, 1-10-74/B
Above Ratnadeep Super Marke Chikot Gardens, BegumpetHyderabad 500016. Indla
+91 40-4003 2244 - 47
[email protected] I www.RnA-cs.com Hyderabnd 1 Gurgaon ChenmaiIMumbal1 Amaravati
DeviationsCompliance Requirement(Regulations/Circulars/ Guidelines
including Specific Clause)
Observations/ Remarks of the Practicing Company
Secretary
Sr. No.
Regulation 19(1)(a) & (b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
As on 31st March, 2021, the Listed Entity has only 1 Non-Executive Director and no
8. As on 31st March, 2021, the NRC of the Listed Entity is not meeting with
requirements specified under Regulation 19(1)(a) and (b) of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Board of Directors shall Independent Director on their Board. constitute the Nomination &
Remuneration Committee (NRC) comprising minimum 3 Directors and all of them shall be non-executive
directors.
9 Regulation 19(1)(¢) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
As on 31st March, 2021, the Listed Entity does not have any Independent Directoron their Board.
As on 31st March, 2021, the NRC of the Listed Entity is not meeting with
requirements specified under Regulation 19(1)(©)of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015.
The Nomination & Remuneration
Committee shall have at least 50% of the Directors as Independent Directors.
Regulation 19 (3A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
10. During the periodunder review, there
As required under
Regulation 19 (3A) of the SEBI (Listing Obligations and Disclosure
was no Nomination &
Remuneration Committee Meeting(s) Requirements)
Regulations, 2015, the NRC has not met at least
The Nomination & Remuneration held. Committee shall meet at least once in
a year.
once in a year.
Regulation 20 (2A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
As on 31st March, 2021, the Listed Entity does not have any Independent Director on their Board.
11. As on 31st March, 2021, the
Stakeholders Relationship Committee of the Listed
The Stakeholders Relationship
Committee shall comprise of at least three directors, with at least one being an independent Director.
Entity does not meet with the requirement specified
under Regulation 20 (2A) of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015. OC
Hyd-16
mpanyCreta
Compliance Requirement(Reguiations/Circulars/Guidelines
including Specific Clause)
Deviations Observations/ Remarks of the Practicing Company
Secretary No.
12 Regulation 20(3A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
During the review period, there was no Stakeholders
As required underRegulation 20 (3A) of the SEBI (Listing Obligations
Relationship Committee Meeting(s)
and Disclosure The Stakeholders Relationship Committee shali meet at least once in
Requirements) Regulations. 2015, the
Stakeholders Relationship Committee has not met at
held.a year.
least once in a year.
13. Regulation 21(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
As on 31st March 2021, the As on 31 March, 2021,
the Risk Management Committee does not
Risk Management Committee does not meet the requirement specified under Regulation 21 (2) of the SEBI (ListingObligations and Disclosure Requirements)
Regulations, 2015
have majority of its members as membersThe majority of members of Risk
Management Committee shall consist of members of the Board of Directors
of Board of Directors.
Regulation 25 (3) and (4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
The Independent Directors of the
listed entity shall hold at least one
meeting ina year, without the presence of non-independent directors and members of the
14. As on 31st March, 2021,the Listed Entity does not have any
Independent Director on their Board and
As required under Regulation 25 (3) and (4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, there was no separate Meetingof Independent Directors was held during the year and there was no review
there was separateMeeting of Independent Directors was held. management
The Independent Directors in such meeting shall inter alia review the performance of the non-
Independent Directors, Chairperson and the Board of Directors as whole and assess the
of performance of the
Non-Independent Directors, Chairperson and the Board of Directors as whole.
quality and quantity and timeliness of flow of information between management and the Board.
ASSO
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Compllanee Requlrement (Negulatlona/Clreularm/ Guldellnen
tneludng Spelfle Clause)
Devlation Observation Remarks of the Practicing Company
Secretaryy No
Regulatlon 2(6) of the SBI (LUstlng Obligatlona and Diuclosure Requlrementa) Regulations, 201:
As on 31 March, 2021 the Company is yet to replace New
Independent Directorfrom the date of
As required under Regulation 25 (6) of the SEBI (Listing Obligations and Disclosure
An ndependent Director who resigns (r) is renmoved from the Noand of Directors of the listed enttyshall be rplaced by a new Independent Director by listed entity at the earliest but not later than the
Requirements) Regulations, 2015, the vacancy caused upon completion of tenure of 1 Independent Directors on 08th October, 2020 was not
vacancy i.e. October 8, 2020.
filled within a period of 3 immediate next meeting of the Boardof Directors or three months from the months.
datr of such vacaney, whichever is
later
(b) The listed entity has maintained proper records under the provisions of the aboveRegulations and circulars/ guidelines issued there under in so far as it appears fromn our examination of those records
()The following are the action taken against the listed entity its-premeters/ direetorstmateriat-subsidiaries-either-by-SEBl-er by the Stock Exchanges (including under the Standard Operating Procedures issued by SEBI through various circulars) under the aforesaid Acts/ Regulations and circulars/ guidelines issued there under:
Sr. taken by
Details of violation Action Details of action taken Observations remarks of the warning Practicing Company Secretary, if No E.g
letter, debarment, etc. Fine of Rs. 1,01,480 including GST imposed Stock exchanges on the said matter on the Company for the | stating that the Company is a
quarter ended 31st March, 2020 vide email
fines, any.
BSE Reg 19(1)/ 19(2) Non- compliance with the constitution of Nomination
Listed Entity had replied to the Limited
&RemunerationCommittee. Defence Public Sector Unit (DPSU) under the administrative control of
dated 08th July, 2020. Ministry of Defence, Department of Defence Production,
Regulation 17(1) Non compliance with the requirement pertaining to the composition of the Board | quarter ended31
including failure to appoint
Fine of Rs. 2,64,320 including GST imposed on the Company for the Since, the listed entity is a DPSU
Government of India.
AS SOC EHy 16
the appointments of Directors on March, 2020 vide email the Board are taken care by
Cretar Secte
R&A Assoclates 202. Technopoiis, 1-1074/8 Above Ratradeep Super Market
Chiko Garders. Begumpet
Hyderabad-500016. Indis 404003 22A4 - 47
[email protected] www.RNACS.com Hyaernbod Gurgaon Chenisi1 Aumpni Arnarwti
dated 08th September, Ministry of Defence (MoD) Department of Defence Production
woman director.
2020. Regulation 18(1) Non- compliance with the constitution of Audit
The term of the 3 independent Directors ie., Shri L. V. Sarma, Dr. Jyoti Mukhopadhyay and Dr. Usha Ramachandra (Woman Independent Director) ended on
Committee.
Regulation 17(1) Non compliance with the requirement pertaining to the composition of the Board| email dated 17th including failure to appoint woman director.
Fine of Rs. 7,59,920
including GST imposed | 30th November, 2019.
on the Company vide Further, the term of the Shri Surendra Sinh, Independent Director was ended on 08th
November, 2020.
October, 2020.Regulation 18(1) Non- compliance with the
constitution of AuditConsequent to aforementioned vacations, the composition of
Listed Entity Board and its
committees is not in line with
applicable provisions SEBI (Listing
Committee.
Reg 19(1)/(2) Non- compliance with the
Exchange constitution of Nomination
&&Remuneration Committee
. National Fine of Rs. 1,01,480
including GST imposed Obligations and Disclosure
on the Company for the | Requirements), 2015 (SEBI Listing
quarter ended 31s*
March, 2020 vide email
dated 02nd July, 2020. Fine of Rs. 7,51,660
Stock
Regulations) Accordingly, the Listed Entity has informed this matter to the
Limited
Regulation 17(1) Non- compliance with the requirement pertaining to the composition of the Board quarter ended 31st including failure to appoint
Administrative Ministry i.e.
including GST imposed Ministry of Defence well in
on the Company for the advance for appointment of
requisite Independent Director on the Board of the Company throughMarch, 2020 vide email
dated 20th August, 2020.
woman director. various correspondences
Regulation 18(1) Non compliance with the
constitution of Audit
The process of appointment of Directors by MoD is followed by multi-level approvals and the Listed Entity has no role apart from timely intimation to MoDp
Committee. Regulation 17(1) Non- compliance with the requirement pertaining to
the composition of the Board including failure to appoint woman director.
Fine of Rs. 2,64,320
including GST imposed regarding vacancies.
on the Company for the quarter ended 31s*
March, 2020 vide email dated 08th September, 2020.
As the Listed Entity is not
responsible for appointment of
directors, it has requested for the
waiver of the penalty imposed by both Stock Exchanges. Regulation 18(1) Non-
compliance with the SSOA
Hyd 16
Ompany retarie
Secre
R&A T 202, Techn clates
Ld 202. Technopolis, 1-10-74/B
Chikoti C uper Market
Hyderabad. 500 et +91 40-4003 2244.47
yderabad 1 Gueeon CheieMumbai 1 Anarovati [email protected] I www.RnA-cs.com
constitution of Audit Accordingly, the said matter was placed before the respective committees of the Stock
Exchanges.
Committee. Regulation 17(1) Non- compliance with the requirement pertaining to the composition of the Board including failure to appoint woman director.
Fine of Rs. 7,59,9200 including GST imposedon the Company for the quarter ended 31st
March, 2020 vide email dated 17th November, Entity's representation is yet to 2020.
The Committees after considering the facts of the case and the Listed
decide on the waiver of the fines Regulation 18(1) Non- compliance with the constitution of Audit
levied for non-compliance under SEBI Listing Regulations.
Committee. | Non Compliance of the
Regulation 17(1), 17 (2A), 18, 19 of the SEBI (ListingObligations and Discdosure Requirements), 2015
Accordingly, National Stock Exchange of India Limited vide in its Letter dated November 13, 2020
Fine of Rs. 10,00,640 including GST imposedon the Company vide email dated 15th
waived off the fine of Rs. 1,48,000/- for non-compliance under Regulation 19(1)/ (2) of SEBI Listing Regulations.
February, 2020.
BSE Limited vide their email dated April 19, 2021 waived off the fine amounting to Rs. 7,59,000/- for the quarter ended September 2020 and has not levied fine for the quarter ended December 2020o.
SSOC H16
pany Cretar Secre
R&A Associates T202, Tecmopotis, 1-10 74/B
Above Ratnredeep SupeManet Clo Garders. BeamoeHyderabed 500016 Indie 91 404003 2244 - 47
foRAaom(wa RnA-scomydes atsup Cemraithusb art
(d) The listed entity has taken the following actions to comply with the observations made in previous reports:
Sr. Observations of the
No Practicing Company Secretary in the
previous reports
Commentsof the Practicing Company Secretary on the actions taken by the listed
entity
Actions taken by the listed entity, if any
The Company did not have| The Listed Entity is a Defence We were informed that Listed Entity is a Defence Public Sector Unit (DPSU) under the administrative
1
at least one independent woman director on the
Public Sector Unit (DPSU) under the administrative control of Ministry of Defence, Government of India.
Board of Directors as control of Ministry of Defence,Government of India and the
required under proviso to Regulation 17(1)(a) of the
LODR Regulations; appointments of Directors on
the Board are taken care by Govt of India, acting through
Ministry of Defence (MoD) -
Department of Defence
Since, the listed entity is a
DPSU, the appointments of 2 As the Chairman of the Board is an Executive Directors on the Board are Chairman, half of the taken care by Ministry of
Defence (MoD) - Department Production. Board of Directors of the
Company did not comprise of Defence Production.
of Independent Directors, as required underRegulation 17(1)(b) of the
LODR Regulations; The Company beinga Top 1000 Listed Entity, the
Board of Directors of the
The process of appointment of Directors by MoD is followedby multi-level approvals and the Listed Entity has no role apart from timely intimation to
Usha Ramachandra ended on | MoD regarding vacancies.
The term of the 3
Independent Directors i.e.,Shri I. V. Sarma, Dr. Jyoti Mukhopadhyay and Dr.
3.
30th November, 2019.
However, the Listed Entity has been actively pursuing with its Administrative Ministry for the appointment of Directorsso as to ensure compliance with all applicable SEBI
Regulations
Company do not comprise of not less than 6 Directors
Further, the term of the Shri.Surendra Sinh, Independent Director was ended on 08th (ie. it has only 4 Directors)
as required under
Regulation 17(1)(¢) of the
LODR Regulations The Composition of the Audit committee do not
October, 2020.
Consequent to aforementioned vacations,
4. the composition of Listed Entity Board and its committees was not in line
with applicable provisions of SEBI Regulations.
have two-thirds of its
members as Independent Directors as required
under Regulation 18(1)(b) of LODR Regulations;
5. The composition of Accordingly, the Listed Entity has informed this
Hyd16
mpany retarie
Sec
d R&A Aseoclates ..
T202. Technopolis. 110 74/8 Above Ratnedeeo 3uper Maet
Chikot Gardens, Begumpe Hyderabad 500016. Indla
91 40-4003 2244 -47 [email protected] t www.RNA-Cs.com
Nomination and matter to the AdministrativeMinistry I.e. Ministry of Defence well in advance for
Remuneration is not in line with O Regulation 19(1) (b)
LODR Regulations; On resignation of Shri Sanjeev Singhal, Director(Finance) from the Board w.e.f. 07th January, 2020, the majority of members of the Risk Management
Committee as on 31lst
appointment of requisite Independent Director on the Board of the Company through various
correspondences.
The process of appointment of Directors by MoD is followed by multi-level approvals and the Listed Entity has no role apart from timely intimation to MoD regarding vacancies.
March, 2020 do not consist of Board members in terms
of Regulation 21(2) of
LODR Regulations. As required under
Regulation 25 (6) of the LODR Regulations, the vacancy caused upon completion of tenure, of 3 Independent Directors on
30th November, 2019, were
not filled, as per the timelines prescribed underRegulation 25(6) of LODR Regulations i.e. within a
period of 3 Months
The Listed Entity has been actively pursuing with its Administrative Ministry for the appointment of Directors so as to ensure compliance
with all applicable SEBI
Regulations.
For R&A Associates, Company Secretaries
h sAAS ASSC
Hyd-16 CS R Ramakrishna Gupta,
mpanySenior Partner eCretarie
FCS No:#5523 COP No.: #6696
Place: Hyderabad, Date: 26th June, 2021
UDIN: FO05523C000506861