REG - GAIL (India) Ltd - Proceedings of 39th AGM

GAIL (India)Announcement

23/08/2023 13:30

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RNS Number : 2436K  GAIL (India) Limited  23 August 2023

 

 

Proceedings of 39(th) Annual General Meeting of the GAIL (INDIA) LIMITED held
on 23.08.2023 through Video Conferencing Mode (VC) /Other Audio-Visual Means
(OAVM)

 

As per the requirement of Regulation 30(2) read with Para A of Part A of
Schedule III of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, please find attached herewith the summary of the
proceedings of 39(th) Annual General Meeting of the Company held on Wednesday,
the 23(rd) day of August, 2023 at 11:30 a.m. through Video Conferencing Mode
(VC) /Other Audio-Visual Means (OAVM).

PROCEEDINGS OF 39(TH) ANNUAL GENERAL MEETING OF THE COMPANY

 

39(th)  Annual General Meeting (AGM) of the members of GAIL (India) Limited
was held on Wednesday, the 23rd day of August, 2023  through Video
Conferencing Mode (VC)/ Other Audio-Visual Means (OAVM). The meeting commenced
at 11.30 a.m. and concluded at 01.00 p.m.

 

Summary of Proceedings:

 

Ø Shri Sandeep Kumar Gupta, Chairman & Managing Director (Chairman)
chaired the meeting.

 

Ø The Chairman informed that the Meeting was convened through VC/ OAVM in
line with the Circulars issued by the Ministry of Corporate Affairs and
Securities and Exchange Board of India. The Company also provided live Webcast
of the proceedings of the AGM.

 

Ø The Chairman then requested Company Secretary to explain the process of
remote                   e-voting. The Company Secretary
briefed the members about the process of e-voting.

 

Ø 178 members joined the meeting through virtual mode. The requisite quorum
being present, the Chairman called the Meeting to order.

 

Ø The Chairman also informed about the presence of Chairperson of Audit
Committee, Nomination and Remuneration Committee & Stakeholders
Relationship Committee and other Board members, Statutory Auditor(s) and
Secretarial Auditor(s).

 

Ø Chairman delivered the speech. With the consent of all the Members present,
the Board's Report, Auditor's Report, Audited Financial Statements etc. were
taken as read.

 

Ø Company Secretary informed the Members that pursuant to the Regulation 44
of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
and Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies
(Management and Administration) Rules, 2014; the Company offered remote
e-voting facility to its members for exercising their right to vote by
electronic means from Saturday, 19(th)  August, 2023 (9:00 am) (IST) and
ended on Tuesday, 22(nd) August, 2023 (5:00 pm) (IST). Further, the facility
for e-voting on the resolutions was also provided during the AGM and 15
minutes after conclusion of AGM to the members who participated in the AGM but
had not casted their votes through remote e-voting. Shri Sachin Agarwal,
Practicing Company Secretary was appointed as the Scrutinizer to scrutinize
the e-voting process in a fair and transparent manner.

 

Ø The Company Secretary informed the items proposed for approval of
shareholders and the Chairman explained the objective and implications, if
any, of the resolutions enlisted in the AGM notice. The business items
discussed during the AGM were as under:

 

 S.    Business Items Transacted during 39(th) AGM                                     Type of Resolution

 No.
       Ordinary/Special
 1     Adoption of Audited Standalone & Consolidated Financial Statements of the       Ordinary
       Company for the financial year ended 31(st) March, 2023 and Report of the
       Board of Directors and Auditors
 2     To confirm the payment of Interim dividend @ 40%                                Ordinary

       (Rs. 4.00/- per equity share) on the paid-up equity share capital of the
       Company already paid in the month of March, 2023
 3     Appointment of Shri Rakesh Kumar Jain, Director (Finance), who retires by       Ordinary
       rotation, and being eligible, offers himself for re-appointment
 4     Appointment of Shri Deepak Gupta, Director (Projects), who retires by           Ordinary
       rotation, and being eligible, offers himself for re-appointment
 5     Authorization to the Board of Directors to fix the remuneration of the          Ordinary
       Statutory Auditor(s) of the Company for the FY 2023-24 and for the future
       years effective from Financial Year 2024-25
 6     Approval for appointment of Shri Praveen Mal Khanooja as a Government Nominee   Ordinary
       Director of  the Company
 7     Approval for appointment of Shri Kushagra Mittal as a Government Nominee        Ordinary
       Director of the  Company
 8     Approval for appointment of Shri Sanjay Kumar as a Director (Marketing) of the  Ordinary
       Company
 9     Ratification of remuneration of Cost Auditors of the Company                    Ordinary
 10    Approval for Material Related Party Transactions with Petronet LNG Limited      Ordinary
 11    Approval for Material Related Party Transactions with Ramagundam Fertilizers    Ordinary
       and Chemicals Limited
 12    Approval for Material Related Party Transactions with Talcher Fertilizers       Ordinary
       Limited
 13    Approval for Material Related Party Transactions with Indraprastha Gas Limited  Ordinary
 14    Approval for Material Related Party Transactions with Mahanagar Gas Limited     Ordinary
 15    Approval for Material Related Party Transactions with Maharashtra Natural Gas   Ordinary
       Limited
 16    Approval for Material Related Party Transactions with Aavantika Gas Limited     Ordinary
 17    Approval for Material Related Party Transactions with Central U.P. Gas Limited  Ordinary
 18    Approval for Material Related Party Transactions with Green Gas Limited         Ordinary

 

Ø Chairman invited Shareholders for discussion/ to raise queries on the items
of business, which were suitably addressed. Further, Company Secretary
informed that the Company will separately disseminate the results of e-voting
to the stock exchanges and the same will also be hosted on the website of
Central Depository Services (India) Limited as well as that of the Company as
per the statutory requirements. The results will also be displayed on the
Notice Board of the Company at its Registered Office.

 

Ø Director (HR) offered vote of thanks to the Shareholders.

 

It is hereby confirmed that the meeting was called, convened, held and
conducted as per the provisions of the Companies Act, 2013; the rules notified
thereunder, SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 and Secretarial Standards on General Meetings issued by the
Institute of Company Secretaries of India.

 

 

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