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Metropolitan Stock Exchange Shares

Annual Report: 2024

Year: 2024

Annual Report Summary

The Metropolitan Stock Exchange of India Limited (MSE) will hold its 16th Annual General Meeting (AGM) on December 19th, 2024, through video conferencing to address several key business matters.

Ordinary Business:

  • Adoption of Financial Statements: Shareholders will review and adopt the audited financial statements, including consolidated statements, for the fiscal year ending March 31, 2024. This also includes the reports from the Board of Directors and the auditors.
  • Re-Appointment of Non-Independent Director: Mr. Manoj Kunkalienkar (DIN: 00019200), who is a Non-Independent Director retiring by rotation, is offering himself for re-appointment, subject to SEBI approval.
  • Appointment of Auditors: M/s R Kabra & Co LLP, Chartered Accountants (FRN: 104502W/W100721) are proposed to be appointed as the Statutory Auditors for a five-year term, concluding at the 21st AGM. Their remuneration and out-of-pocket expenses will be mutually agreed upon with the Board of Directors.
  • Appointment of Independent Director: Mr. Ashok Kumar Dogra (DIN: 07074297) is proposed for appointment as a (Independent Director) Public Interest Director w.e.f. January 16, 2024 for 3 consecutive years commencing from January 16, 2024 upto January 15, 2027, not liable to retire by rotation, and who meets the criteria for independence as provided in Section 149(6) of the Act.

Special Business:

The notice includes an Explanatory Statement detailing the items of business to be transacted at the AGM, and outlines procedures for participation, e-voting, raising questions, and more, emphasizing remote e-voting and e-voting during the AGM, with NSDL providing the e-voting facility.

Key Notes and Procedures:

  • Physical attendance is not required. Members can attend via video conferencing (VC) or other audio-visual means (OAVM).
  • The facility to appoint a proxy is not available for this AGM. Body corporates may appoint authorized representatives.
  • Members can join the AGM VC/OAVM mode 15 minutes before and after the scheduled time, with limited slots (first come, first served, but with exceptions).
  • Attendance through VC/OAVM will count towards quorum.
  • Remote e-voting is available. The company has an agreement with NSDL for facilitating e-voting.
  • The AGM proceedings will be deemed to be conducted at the Registered Office.
  • Members are encouraged to register their email addresses with their DP.
  • SEBI has mandated PAN submission.
  • Nomination facility is available.
  • Members can express their views during the AGM.
  • The remote e-voting period is defined, and the process for remote e-voting and e-voting during the AGM is detailed, including login methods for various types of shareholders (demat with NSDL/CDSL, physical).
  • Instructions for attending the AGM through VC/OAVM and remote E-Voting are provided.
  • Mr. Ramakant Kini is appointed as the scrutineer. Voting results will be displayed on the company website and NSDL website.

Explanatory Statement Highlights:

  • SEBI approved the appointment of Mr. Ashok Kumar Dogra as Public Interest Director of the Exchange
  • The Board of Directors recommends the Resolution for his appointment as an Independent Director.
  • None of the Directors are concerned or interested financially with this resolution except Mr. Dogra.

The notice also includes details of the directors seeking appointment or re-appointment at the AGM as per regulatory guidelines. The date of birth, experience, qualification and expertise in various areas of function are detailed.

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