CRISIL Limited
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August 4, 2020 National Stock Exchange of India Ltd. Listing Department Exchange Plaza, 5th floor BSE Limited Plot No. C/1, G Block P J Towers Bandra-Kurla Complex Dalal Street Bandra (East), Mumbai 400 051 Mumbai 400 001 Dear Sirs, Sub.: Annual Report including the revised Notice of 33rd Annual General Meeting This is further to our letter dated July 21, 2020 wherein the Company had informed that the 33rd Annual General Meeting of the Company (“AGM”) is scheduled to be held on Friday, August 28, 2020 at 4.00 p.m through Video Conferencing (VC) and other audio visual means (OAVM) in accordance, with the relevant circulars issued by Ministry of Corporate Affairs and Securities and Exchange Board of India (SEBI). Please find enclosed herewith Annual Report of the Company for the financial year ended December 31, 2019 including the revised Notice of 33rd AGM. The revised Notice of the 33rd AGM and the Annual Report are also being uploaded on the website of the Company at www.crisil.com. Kindly acknowledge receipt and inform your members accordingly. In case of queries, you may send an email to [email protected] or call on +91-22-33423595. Yours faithfully, For CRISIL Limited Minal Bhosale Company Secretary ACS 12999 Encl.: a/a CRISIL Limited Corporate Identity Number: L67120MH1987PLC042363 Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai - 400076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 www.crisil.com CRISIL Limited Revised Notice of the 33rd AGM CRISIL Limited Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai 400 076 Corporate Identification Number (CIN): L67120MH1987PLC042363 Tel.: 022-33423000; Fax: 022-33423001; Website: www.crisil.com; e-mail: [email protected] The original notice of the 33rd Annual General Meeting dated February 11, 2020 has been superceded entirely with the issuance of this Revised Notice dated July 21, 2020 and should therefore not be referred to for e-voting or any other meeting related procedures. NOTICE is hereby given that the 33rd Annual General Meeting SPECIAL BUSINESS: (“AGM”) of the Company will be held on Friday, August 28, 2020 4. Appointment of Mr. Martin Fraenkel as a Non- at 4.00 p.m. IST, through Video Conferencing (VC) and or other Executive Director, liable to retire by rotation audio visual means (OAVM), without the in-person presence of shareholders. To consider, and if thought fit, to pass the following resolution as an Ordinary Resolution: In view of the continuing Covid-19 pandemic, the Ministry of Corporate Affairs (“MCA”) by way of circulars dated “RESOLVED THAT Mr. Martin Fraenkel (DIN 08410263), April 8, 2020, April 13, 2020 and May 5, 2020 and Securities who was appointed as an Additional Director of the and Exchange Board of India (“SEBI”) vide circular dated Company with effect from April 18, 2019 by the Board of May 12, 2020 (hereinafter referred to as “Circulars”) permitted Directors of the Company pursuant to Section 161(1) of companies to hold their general meetings through video the Companies Act, 2013 and the Articles of Association conferencing (VC) or other audio visual means (OAVM) for the of the Company and in respect of whom, the Company year 2020. In keeping with government advisories on Covid-19 has received a notice in writing under Section 160 of and considering the current extra-ordinary circumstances, the Companies Act, 2013 from a member proposing which are not conducive to a safe conduct of the AGM with his candidature for the office of Director, be and is physical attendance of stakeholders, the Board of Directors hereby appointed as a Director of the Company, liable to has approved conduct of the 33rd Annual General Meeting retire by rotation.” through Video Conferencing and other audio visual means 5. Re-appointment of Ms. Ashu Suyash as Managing (OAVM) (hereinafter referred to as “VC/OAVM”) Director & Chief Executive Officer and approving the In view of the several updates to the procedure for conduct terms and conditions of the re-appointment of the AGM through VC/OAVM, change of the Event number To consider, and if thought fit, to pass the following (EVEN) for e-voting and introduction of an additional Item No. resolution as an Ordinary Resolution: 6 for approval, under the Special Business, the Board deems fit to issue this Revised Notice which replaces the original “RESOLVED THAT in accordance with the provisions of AGM notice dated February 11, 2020, in its entirety. Sections 196, 197 and 203 read with Schedule V and other applicable provisions of the Companies Act, 2013 Notice is hereby given that the following business will be and the Companies (Appointment and Remuneration transacted at the AGM : of Managerial Personnel) Rules, 2014 (including any statutory modification(s) or re-enactment(s) thereof, for ORDINARY BUSINESS: the time being in force) (hereinafter referred to as ‘Act’), 1. Adoption of Financial Statements and the Company’s Articles of Association, approval of the members be and is hereby accorded to, re-appoint To receive, consider and adopt: Ms. Ashu Suyash, (DIN 00494515) as the Managing a. the Audited Financial Statements of the Company Director (MD) & Chief Executive Officer (CEO) of the for the year ended December 31, 2019, together Company for a period of five years, with effect from June 1, with the Reports of the Board of Directors and the 2020, on the terms and conditions specified hereunder : Auditors thereon; and (a) Nature of Duties: Ms. Ashu Suyash shall carry out b. the Audited Consolidated Financial Statements of such duties as may be entrusted to her subject the Company for the year ended December 31, 2019, to the supervision and control of the Board together with the Report of the Auditors thereon. from time to time. 2. Declaration of dividend (b) Base Pay: Ms. Ashu Suyash shall be entitled to receive a minimum salary of Rs. 390 lakh per year, To declare final dividend on equity shares of Rs. 13 per subject to such annual increments, as may be equity share and to approve and confirm the declaration decided by the Board of Directors of the Company and payment of three interim dividends aggregating Rs. on the recommendation of the Nomination and 19 per equity share for the year ended December 31, 2019. Remuneration Committee or any other Committee 3. Re-appointment of Mr. Ewout Steenbergen constituted by it from time to time. The base pay includes salary, allowances, reimbursements and To appoint a Director in place of Mr. Ewout Steenbergen retirement benefits. She would be allowed to fix (DIN 07956962), who retires by rotation and, being various components of salary within the overall eligible, seeks re-appointment. 1 CRISIL Limited Revised Notice of the 33rd AGM limit as stated above and also to avail / encash RESOLVED FURTHER THAT where in any financial year, the benefits in accordance with the schemes and during the currency of tenure of Ms. Ashu Suyash as rules of the Company for its staff as applicable MD & CEO, the Company incurs a loss or its profits are from time to time. inadequate, the Company shall pay to Ms. Ashu Suyash, the above remuneration by way of base pay, variable pay, (c) Variable Pay: Ms. Ashu Suyash shall be entitled, in stock options, perquisites, allowances and other benefits each year, to variable pay at a percentage of Base as a minimum remuneration, after complying with the Pay based on the level of performance which will be limits and obtaining necessary approvals as specified decided by the Board of Directors of the Company in Schedule V of the Act, or such other limits as may be on the recommendation of the Nomination and prescribed by Central Government from time to time as Remuneration Committee or any other Committee minimum remuneration. constituted by it from time to time. RESOLVED FURTHER THAT the Board of Directors be (d) Perquisites: In addition to the remuneration, and is hereby authorised to take all such steps as may Ms. Ashu Suyash would also be eligible to perquisites necessary for obtaining any approvals – statutory, in the form Company car with driver, Group Medical contractual or otherwise, in relation to the above, and health cover and leave encashment. to do all the acts, deeds, matters and things which are (e) Other benefits: Ms. Ashu Suyash would be eligible necessary, proper, expedient and incidental for giving to benefits under any Long Term Incentive Plan, effect to this resolution.” Employee Stock Option Plan, excess contribution, 6. Appointment of Ms. Shyamala Gopinath as an life insurance and other benefits in accordance with Independent Director of the Company the schemes and rules of the Company for its staff as applicable from time to time. To consider, and if thought fit, to pass the following resolution as a Special Resolution: (f) Other terms and conditions: Perquisites and allowances shall be evaluated, wherever applicable, “RESOLVED THAT pursuant to the provisions of Sections as per the provisions of Income Tax Act, 1961 or any 149, 152 and other applicable provisions, if any, of the rules thereunder or any statutory modification(s) or Companies Act, 2013 and the rules framed thereunder, re-enactment(s) thereof; in the absence of any such read with Schedule IV to the Act, as amended from rules, perquisites and allowances shall be evaluated time to time, Ms. Shyamala Gopinath (DIN: 02362921), at actual cost. a non-executive Director of the Company, who has submitted a declaration that she meets the criteria for (g) Termination: The employment may be terminated by independence as provided in Section 149(6) of the Act either party giving to the other party three months’ and Regulation 16 (1)(b) of the Securities and Exchange notice or gross salary in lieu thereof.