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SBI Life INSURANCE with Us SBI Life INSURANCE With Us. You're Sure August 1, 2019 SBIL/F&A-CS/NTC/1920/204 General Manager, Vice President, Listing Department, listing Department, BSE limited, National Stock Exchange of India limited, Phiroze Jejeebhoy Towers, Exchange Plaza, Dalal Street, Mumbai - 400001 Sandra East, Mumbai- 400051 Sub: Notice of 19th Annual General Meeting & Annual Report for the FY ended 2018-19 Dear Sir/ Madam, This is in continuation to our letter dated July 23, 2019 bearing reference no. SBILJF&A­ 1 CS/NSE-BSE/1920/184 regarding the 19 h Annual General Meeting ('AGM') of the Company to be held on Friday, August 23, 2019 at 10.30 a.m. at SBI Auditorium, State Bank Bhavan, Corporate Centre, Madam Cama Road, Nariman Point, Mumbai - 400 021 and pursuant to Regulation 34(1) of Securities Exchange Board of India (listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations'), we are submitting herewith the Annual Report of the Company along with the Notice of AGM for the FY 2018-19 which is being despatched I sent to the members by the permitted mode(s). The Annual Report and the Notice of AGM is also uploaded on the Company's website www .sbilife.co. in You are requested to take note of the above and arrange to bring this to the notice of all concerned. Thanking you, Vinod Koyande Company Secretary ACS No. 33696 SBI Life Insurance Company Limited Registered & Corporate Office : Natraj, M. V. Road & Western Express Highway Junction, Andheri (East), Mumbai - 400 069. !I.: 022 6191 0000/3968 0000 Fax.: 022 6191 0517 Website: www.sbilife.co.in IRDAI Regn. No. 111 CIN: L99999MH2000PLC129113 SBI LIFE INSURANCE COMPANY LIMITED Registered & Corporate Office: “Natraj”, M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai – 400069 CIN: L99999MH2000PLC129113; Tel: 022-6191 0000; Fax: 022-6191 0517 Website: www.sbilife.co.in; Email – [email protected] NOTICE OF 19TH ANNUAL GENERAL MEETING NOTICE is hereby given that the 19th Annual General Meeting (“AGM”) of the members of SBI Life Insurance Company Limited (“Company”, and such members, the “Members”) will be held on Friday, August 23, 2019 at 10:30 A.M. at SBI Auditorium, State Bank Bhavan, Corporate Centre, Madam Cama Road, Nariman Point, Mumbai – 400 021, to transact the following business: ORDINARY BUSINESS 1. To receive, consider and adopt the Revenue Account, Profit and Loss Account and the Receipts and Payments Account for the financial year ended March 31, 2019 and the Balance Sheet of the Company as at March 31, 2019, together with the reports of the Board of Directors’ of the Company (“Board”), report of the Statutory Auditors of the Company (“Auditors”) and comments of the Comptroller and Auditor General of India (“CAG”). 2. To confirm interim dividend declared by the Company on March 26, 2019 as final dividend for the financial year ended March 31, 2019. 3. To consider, and if thought fit, to pass the following resolution as an Ordinary Resolution for fixation of remuneration of the Statutory Auditors of the Company in accordance with the section 142 of the Companies Act, 2013, as yet to be appointed by the Comptroller and Auditor General, for the financial year 2019-20 in furtherance of its powers embodied within Section 139 of Companies Act, 2013, as amended and read with applicable notifications issued thereunder : “RESOLVED THAT in accordance with Section 142 of Companies Act, 2013, as amended and read with the applicable notifications issued thereunder (“Companies Act, 2013”) and applicable notifications of the Comptroller and Auditor General of India (“CAG”), the remuneration payable to the Statutory Auditors of the Company (“Auditors”) for the financial year 2019-20, is affixed at Rs. 44 lakhs (Rs. 22 lakhs each) for annual audit and Rs. 13 lakhs (Rs. 6.5 lakhs each) for half year audit plus applicable taxes and reimbursement of out of pocket expenses incurred by the Auditors, if any, in connection with the audit of the accounts of the Company for the financial year 2019-20 be and is hereby approved”. SPECIAL BUSINESS 4. To consider and if thought fit, to pass the following resolution, as aSpecial Resolution of the Members for the re-appointment of Ms. Joji Sekhon Gill (DIN 05310881) as an Independent Director of the Company; “RESOLVED THAT in furtherance of the recommendation of the Nomination and Remuneration Committee and approval of the Board of Directors, Ms. Joji Sekhon Gill (DIN 05310881) whose current term shall expire on September 6, 2019 be and is here-by re-appointed as an Independent Director of the Company pursuant to sections 149, 150, 152 of Companies Act 2013, as amended and read with applicable notifications issued thereunder (“Companies Act, 2013”) read with the Companies (Appointment and Qualification of Directors) Rules, 2014, as amended and read with applicable notifications issued thereunder (“Appointment and Qualification of Directors Rules”) and the Securities and Exchange Board 1 of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended and read with applicable notifications issued thereunder (“Listing Regulations”). Such re-appointment shall be for a term of two years upto September 6, 2021, and shall commence with effect from September 07, 2019. RESOLVED FURTHER THAT the Board of Directors (including its Committee thereof) and / or the Chief Financial Officer of the Company and / or the Company Secretary of the Company, be and is / are hereby authorised to do all such acts, deeds, matters and things, as they may consider necessary, expedient or desirable for giving effect to the foregoing resolution.” 5. To consider, and if thought fit, to pass the following resolution as aSpecial Resolution for continuation of Directorship of Mr. Raj Narain Bhardwaj as an Independent Director of the Company: “RESOLVED THAT in furtherance of the recommendation of the Nomination and Remuneration Committee and approval of the Board of Directors and pursuant to Regulation 17(1A) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended and read with applicable notifications issued thereunder, applicable provisions of the Companies Act 2013, as amended and read with applicable notifications issued thereunder, approval of members of the Company be and is hereby accorded for continuation of Mr. Raj Narain Bhardwaj (DIN: 01571764) as an Independent Director of the Company on attaining the age of seventy five years on May 8, 2020, upto September 6, 2020 (being the date of expiry of his current term as an Independent Director). RESOLVED FURTHER THAT the Board of Directors (including its Committee thereof) and / or the Chief Financial Officer of the Company and / or the Company Secretary of the Company, be and is / are hereby authorised to do all such acts, deeds, matters and things, as they may consider necessary, expedient or desirable for giving effect to the foregoing resolution.” 6. To consider, and if thought fit, to pass the following resolution as an Ordinary Resolution for revision in the remuneration of Mr. Sanjeev Nautiyal (DIN: 08075972), Managing Director and Chief Executive Officer of the Company: “RESOLVED THAT in furtherance of the recommendation of the Nomination and Remuneration Committee and approval of the Board of Directors, and pursuant to Section 34A of the Insurance Act, 1938 , as amended and read with applicable notifications issued thereunder (“Insurance Act”), and other applicable provisions of the Insurance Act, if any, applicable Guidelines issued by the Insurance Regulatory and Development Authority of India (“IRDAI”) from time to time and other applicable provisions of the Companies Act, 2013 (the “Act”), as amended and read with the applicable notifications issued thereunder (the “Companies Act, 2013”) and provisions of the Articles of Association of the Company and approval of the IRDAI, the revised remuneration of Mr. Sanjeev Nautiyal (DIN: 08075972), Managing Director and Chief Executive Officer, be and is hereby approved as under with effect from April 1, 2019: Particulars Amount (` p.a. in millions) Basic 1.53 Allowances / Perquisites* 2.11 Retiral benefits 0.49 * excluding perquisites such as furnished house, vehicle etc. provided by the Company and Performance bonus (maximum) of 35% of Gross salary. RESOLVED FURTHER THAT the Board of Directors of the Company, or Nomination & Remuneration Committee or any Committee thereof be and / or the Chief Financial Officer and / or the Company Secretary of the Company is/ are hereby authorised to do all such acts, deeds, matters and things, as they may consider necessary, expedient or desirable for giving effect to the foregoing resolution, and to settle any question or doubt that may arise in relation thereto.” 2 7. To consider, and if thought fit, to pass the following resolution as a Special Resolution for increase in foreign portfolio investment limits in the Company: “RESOLVED THAT pursuant to applicable provisions of the Foreign Exchange Management Act, 1999, as amended and read with applicable notifications issued thereunder, the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 as amended and read with applicable notifications issued thereunder, the Consolidated Foreign Direct Investment Policy notified by the DIPP under D/o IPP F. No. 5(1)/2017-FC-1 dated August 28, 2017, applicable provisions of the Companies Act, 2013, as amended and read with applicable notifications issued
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