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Godrej Industries Limited

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Godrej Industries Limited GODREJ INDUSTRIES LIMITED CIN: L24241MH1988PLC097781 Registered Office: Godrej One, Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai - 400 079, Maharashtra, India Tel No.: 022 – 2518 8010; Fax No.: 022- 2518 8066; Email: [email protected]; Website: www.godrejindustries.com POSTAL BALLOT NOTICE [Pursuant to Section 110 of the Companies Act, 2013 read with Rule 22 of the Companies (Management and Administration) Rules, 2014] Dear Member(s), Notice is hereby given that pursuant to Section 110 and other applicable provisions of the Companies Act, 2013, if any, read with the Rules framed thereunder, the Board of Directors of the Company at its Meeting held on Thursday, February 13, 2020, approved the business, as set out in this Notice and the accompanying Postal Ballot Form, for approval of the Members of the Company through Postal Ballot. Accordingly, the proposed resolutions and the explanatory statement thereto are annexed herewith along with a Postal Ballot Form for your consideration. Mr. Kalidas Vanjpe, Practicing Company Secretary, (Membership no. FCS 7132) or failing him Mr. Ashok Ramani, Practicing Company Secretary (Membership no. FCS 6808) of M/s. A. N. Ramani & Co., Company Secretaries have been appointed as the Scrutinizers to scrutinize the Postal Ballot and E-voting process in a fair and transparent manner. You are requested to read the instructions printed in the accompanying Postal Ballot Form and return the same along with assent (FOR) or dissent (AGAINST), in the enclosed self-addressed postage pre-paid Business Reply Envelope so as to reach the Scrutinizer before the close of working hours (5:00 p.m.) on Thursday, March 26, 2020. Please note that any Postal Ballot Form(s) received after the said date and time will be treated as not having been received. No other form or photocopy thereof is permitted. Only Members entitled to vote are entitled to fill in the Postal Ballot Form and send it to the Scrutinizer or vote under the e-voting facility offered by the Company, and any other recipient of the Notice who has no voting rights should treat this Notice as an intimation only. Members may note that, in accordance with the provisions of Sections 108 and 110 of the Companies Act, 2013 and Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014, and the Secretarial Standards issued by the Institute of Company Secretaries of India read with Regulation 44 of the Securities and Exchange Board of India (Listing Regulations and Disclosure Requirements) Regulations, 2015, the Company is pleased to provide its Members the facility to exercise their right to vote by electronic means and the business may be transacted through e-voting services provided by Central Depository Services (India) Limited (“CDSL”). The e-voting facility will be available from 9.00 a.m. on Wednesday, February 26, 2020 to 5.00 p.m. on Thursday, March 26, 2020. The e-voting module shall be disabled by CDSL for voting thereafter. During this period, Members of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off date, Friday, February 7, 2020 may cast their vote electronically. Please read and follow the instructions on e-voting enumerated in the notes to this Notice. The Scrutinizer will submit his report to the Chairman / any other Director / Key Managerial Personnel as may be authorized by the Chairman after completion of the e-voting and scrutiny of Postal Ballot Forms. The combined results of the e-voting and Postal Ballot will be declared on or before Saturday, March 28, 2020 at the Registered Office of the Company. The declaration / announcement of the results as stated above shall be treated as declaration of results at a Meeting of the Members as per the provisions of the Companies Act, 2013 and applicable Rules framed thereunder. The Results declared along with the Consolidated Scrutinizer’s Report shall be placed on the website of the Company, viz., www.godrejindustries.com immediately after the Results are declared and will simultaneously be communicated to the Stock Exchanges, viz., BSE Limited and the National Stock Exchange of India Limited, where the Equity Shares of the Company are listed. 1 PROPOSED RESOLUTIONS – SPECIAL BUSINESS: 1. Approval for re-appointment of and remuneration payable to Mr. Nadir B. Godrej as the “Managing Director” of the Company for a period of 3 years, w.e.f. April 1, 2020 to March 31, 2023 To consider, and if thought fit, to pass the following Resolution as a Special Resolution: “RESOLVED THAT pursuant to the provisions of Sections 196, 197, 198 and 203 read with Schedule V and other applicable provisions, if any, of the Companies Act, 2013 (“the Act”) and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, Regulation 17(6)(e) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) [including any statutory modification(s)/ amendment(s) / re-enactment(s) thereof], and on the basis of the recommendation of the Nomination and Remuneration Committee and the Board of Directors of the Company, the approval of the Members of the Company be and is hereby accorded to the re-appointment of and terms of remuneration payable to, including increase in remuneration and / or waiver of refund of excess remuneration and / or the remuneration to be paid in the event of loss or inadequacy of profits in any financial year during the tenure of appointment of Mr. Nadir B. Godrej (DIN: 00066195) as the “Managing Director” of the Company, for a period of 3 (three) years starting from April 1, 2020 to March 31, 2023 on the terms and conditions as set out in the Explanatory Statement annexed to the Notice and as set out in the agreement to be entered into between the Company and Mr. Nadir B. Godrej, with liberty to the Board of Directors / Nomination and Remuneration Committee to alter and vary the terms and conditions of the said appointment in such manner as may be agreed between the Board of Directors and Mr. Nadir B. Godrej. RESOLVED FURTHER THAT in terms of the provisions of Section 196 read with Schedule V to the Act and other applicable provisions, if any, Mr. Nadir B. Godrej shall continue to hold office of the “Managing Director” of the Company upon attaining age of 70 (seventy) years during the tenure of his appointment. RESOLVED FURTHER THAT the remuneration payable to Mr. Nadir B. Godrej for a period of 3 (three) years from April 1, 2020 to March 31, 2023 may exceed Rs.5 Crore (Rupees Five Crore) or 2.5% of the net profits, whichever is higher or the aggregate annual remuneration of all Executive Directors taken together may exceed 5% of the net profits of the Company in any financial year, in terms of the provisions of Regulation 17(6)(e) of the Listing Regulations. RESOLVED FURTHER THAT the Board of Directors of the Company (including Nomination and Remuneration Committee of the Board of Directors) be and is hereby authorised to take such steps as may be necessary for obtaining necessary approvals (statutory, contractual or otherwise), in relation to the above and to settle all matters arising out of and incidental thereto and to sign and execute deeds, applications, documents and writings that may be required, for and on behalf of the Company and generally to do all such acts, deeds, matters and things as may be necessary, proper, expedient or incidental for giving effect to this Resolution”. 2. Approval for remuneration payable to Mr. Nadir B. Godrej, Managing Director of the Company in terms of Regulation 17(6)(e) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the Financial Year 2019-20 To consider and if thought fit, to pass the following Resolution as a Special Resolution: “RESOLVED THAT pursuant to the provisions of Regulation 17(6)(e) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018, read with the provisions of Sections 196, 197, 198 and other applicable provisions of the Companies Act, 2013 (“the Act”) and the Rules framed thereunder read with Schedule V to the Act (including any statutory modification(s) / amendment(s) / re-enactment(s) thereof), the consent of the Members be and is hereby accorded for payment of remuneration to Mr. Nadir B. Godrej (DIN: 00066195), “Managing Director” of the Company, at such terms and conditions as approved by Members at the 28th (Twenty Eight) Annual General Meeting of the Company held on August 11, 2016, notwithstanding that the annual aggregate remuneration payable to Mr. Nadir B. Godrej, may exceed Rs. 5 Crore (Rupees Five Crore) or 2.5% of the net profit of the Company, whichever is higher or the aggregate annual remuneration of all Executive Directors taken together may exceed 5% of the net profits of the Company for the Financial Year 2019-20. RESOLVED FURTHER THAT all the existing terms and conditions of remuneration including salary, perquisites and commission as per Special Resolution passed in 28th (Twenty Eight) Annual General Meeting held on August 11, 2016 shall remain unchanged. 2 RESOLVED FURTHER THAT the Board of Directors (including Nomination and Remuneration Committee of the Board of Directors) of the Company be and is hereby authorized to do all acts, deeds, matters and things as may be necessary, proper or desirable or expedient to give effect to the above Resolution.” 3. Approval for Remuneration payable to Ms. Tanya Dubash, Whole Time Director (Executive Director & Chief Brand Officer) of the Company in terms of Regulation 17(6)(e) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for a period of 3 years, w.e.f.
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