Shareholder Meeting / Postal Ballot-Outcome of AGM

• Security Code: 500365
• Company: WELSPLSOL

Proceedings of 36th Annual General Meeting

With reference to Regulation 30(6) read with Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit herewith brief proceedings of the 36th Annual General Meeting (AGM) of the Company held on Monday, September 24, 2018 at 12.30 pm at the Registered Office of the Company at Plot No.1, GIDC Industrial estate, Valia Road, Jhagadia, Dist. Bharuch, Gujarat - 393110, the meeting concluded at 2.00 pm:

1. Members by an ordinary resolution have approved and adopted the audited annual accounts of the Company for the financial year ended March 31, 2018 together with Auditors' Report and Directors' Report thereon.
2. Members by an ordinary resolution have approved re-appointment of Mr. Anuj Burakia (DIN: 02840211) who was retiring by rotation.
3. 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 2018-19.
4. Members by an ordinary resolution have appointed Mr. Balkrishan Goenka (DIN: 00270175) as the Director (non- executive) of the Company, not liable to retire by rotation.
5. Members by an ordinary resolution have appointed Mr. Prakash Tatia (DIN: 06559106) as the Director (non- executive) of the Company, liable to retire by rotation.
6. Members by an ordinary resolution have appointed Mr. Myneni Narayana Rao (DIN: 00577494) as the Independent Director of the Company, not liable to retire by rotation, for a period of three years i.e. upto August 27, 2021.
7. Members by a special resolution have approved re-appointment of Mr. Anuj Burakia (DIN: 02840211) as Whole Time Director for a period of 3 years w.e.f. July 29, 2018.
8. Members by a special resolution have approved the proposal to borrow money upto Rs.300 Crore, over and above the limits specified U/s. 180(1)(c)..
9. Members by a special resolution have approved the proposal to create charge, hypothecation, mortgage of aggregate value not exceeding Rs.300 Crore, for securing Company's borrowings.
10. Members by special resolution have approved the proposal to borrow by way of issue of securities including secured/ unsecured redeemable debentures on private placement basis in one or more tranches within the overall borrowing limit of Rs.300 Crore.
11. Since Item no.11 was already dropped by the Board from the agenda, it was not taken up.
12. Members by a special resolution have approved reclassification of Saraf Group viz. Mr. Rajendra Saraf and the persons listed in the table given in the Notice of AGM from the promoter category to the public category.

13. Members by a special resolution have approved reclassification of Widescreen Holdings Pvt Ltd from the promoter category to the public category.