Annual report 2019 - National Report 2018-2019.pdf · PDF file Shri Arihant Parakh...

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Transcript of Annual report 2019 - National Report 2018-2019.pdf · PDF file Shri Arihant Parakh...

  • Thirtieth Annual Report

    2018-2019

  • NATIONAL PLASTIC TECHNOLOGIES LTD

    Board of Directors : Shri Sudershan Parakh

    Managing Director

    Shri Alok Parakh

    Joint Managing Director

    Shri Arihant Parakh

    Wholetime Director

    Shri Sudhir K Patel

    Shri Ajit Kumar Chordia

    Smt Manju Parakh

    Registered Office : Thiru Complex, II Floor,

    69, (Old No.44), Pantheon Road,

    Egmore, Chennai 600 008.

    Tel : 4340 4340 , 2855 3456.

    Email: [email protected]

    www.nationalplasticsgroup.com

    Registrars & Share : Cameo Corporate Services Ltd.,

    Transfer Agents Subramanian Building,

    No.1 , Club House Road,

    Chennai 600 002.

    Tel : 2846 0390 Fax : 2846 0129.

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  • NATIONAL PLASTIC TECHNOLOGIES LTD NOTICE TO THE SHAREHOLDERS

    Notice is hereby given that the Thirtieth Annual General Meeting of the Members of the Company will be held on Wednesday, the 11th September, 2019 at The Hall of Ragaas, 47, First Avenue, Sastri Nagar, Adyar, Chennai-600 020 to transact the following business:

    ORDINARY BUSINESS:

    1) To receive, consider and adopt the Audited Profit and Loss Account for the year ended 31st March, 2019, Balance Sheet as at that date and the Directors' Report.

    2) To appoint a Director in the place of Smt Manju Parakh (DIN: 01417349) who retires by rotation and being eligible, offers herself for reappointment.

    SPECIAL BUSINESS

    3) To consider and if thought fit, to pass with or without modification, the following resolution as Special Resolution:

    Reappointment of Shri Sudhir K Patel as Independent Director:

    “RESOLVED THAT pursuant to the provisions of Sections 149, 152 and other applicable provisions, if any, of the Companies Act, 2013 (“Act”) and the Rules framed thereunder as read with Schedule IV to the Act, and SEBI Regulations, as amended from time to time, Shri Sudhir K Patel (DIN:00943032), a non-executive Director of the Company,

    who has submitted a declaration that he meets the criteria for independence as provided in Section 149(6) of the Act and who is eligible for appointment and not liable to retire by rotation, be and is hereby reappointed as an Independent Director of the Company, for a period of 5 years with effect from 24th September, 2019 upto 23rd September, 2024.

    RESOLVED FURTHER THAT the Board of Directors be and is hereby authorised to do all acts and take all such steps as may be necessary, proper or expedient to give effect to this resolution.”

    4) To consider and if thought fit, to pass with or without modification, the following resolution as Special Resolution:

    Reappointment of Shri Ajit Kumar Chordia as Independent Director:

    “RESOLVED THAT pursuant to the provisions of Sections 149, 152 and other applicable provisions, if any, of the Companies Act, 2013 (“Act”) and the Rules framed thereunder as read with Schedule IV to the Act, as amended from time to time, Shri Ajit Kumar Chordia (DIN:00049366), a non-executive Director of the Company, who was appointed as Independent Director and who holds office as an Independent Director upto 23rd September, 2019 and in respect of whom the Company has received a notice in writing under Section 160 of the Act from a member proposing his candidature for the office of Director and who has submitted a declaration that he meets the criteria for independence as provided in Section 149(6) of the Act and who is eligible for appointment , be and is hereby reappointed as an Independent Director of the Company, 24th September, 2019 upto 23rd September, 2024.

    who was appointed as Independent Director and who holds office as an Independent Director upto 23rd September, 2019 and in respect of whom the Company has received a notice in writing under Section 160 of the Act from a member proposing his candidature for the office of Director and

    and SEBI Regulations,

    and not liable to retire by rotation for a period of 5 years with effect from

    RESOLVED FURTHER THAT the Board of Directors be and is hereby authorised to do all acts and take all such steps as may be necessary, proper or expedient to give effect to this resolution.”

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  • NATIONAL PLASTIC TECHNOLOGIES LTD 5) To consider and if thought fit, to pass with or without modification, the following resolution as Special Resolution:

    Reappointment of Shri Alok Parakh, as Joint Managing Director for a period of 3 years:

    “RESOLVED THAT in accordance with the provisions of Sections 196, 197 and 203 read with Schedule V and all other applicable provisions of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (including any statutory modification(s) or re-enactment thereof, for the time being in force), approval of the Company be and is hereby accorded to the reappointment of Shri Alok Parakh (DIN: 01417398) as Joint Managing Director of the Company, for a period of 3 (three) years with effect from October 01, 2019, on the terms and conditions including remuneration as set out in the Statement annexed to the Notice convening this Meeting, with liberty to the Board of Directors (hereinafter referred to as “the Board” which term shall be deemed to include the Nomination and/or Remuneration Committee of the Board) to alter and vary the terms and conditions of the said reappointment and / or remuneration as it may deem fit and as may be acceptable to Shri Alok Parakh, subject to the same not exceeding the limits specified under Schedule V to the Companies Act, 2013 or any statutory modification(s) or re-enactment thereof.

    RESOLVED FURTHER THAT the Board be and is hereby authorised to do all acts and take all such steps as may be necessary, proper or expedient to give effect to this resolution.”

    NOTES

    1. A member entitled to attend and vote at the Meeting is entitled to appoint a proxy to attend and vote instead of himself and the proxy need not be a member of the Company. A person can act as proxy on behalf of members not exceeding fifty (50) and holding in the aggregate not more than ten percent of the total share capital of the Company. A member holding more than ten per cent of the total share capital of the Company carrying voting rights may appoint a single person as proxy and such person shall not act as a proxy for any other person or shareholder.

    2. Corporate Members intending to send their authorized representatives to attend the meeting are requested to send a certified copy of the Board Resolution to the Company or upload it on e-voting portal, authorizing their representative to attend and vote or their behalf at the meeting.

    3. The instrument appointing the proxy, duly completed, must be deposited at the Registered Office of the Company not less than 48 hours before the commencement of the meeting. A proxy form for the AGM is enclosed.

    4. During the period beginning 24 hours before the time fixed for the commencement of the AGM and until the conclusion of the meeting, a member would be entitled to inspect the proxies lodged during the business hours of the Company, provided that not less than three days of notice in writing is given to the Company.

    5. Members/Proxies/authorized representatives should bring the duly filled attendance slip sent herewith to attend the Meeting.

    6. The Register of Directors and Key Managerial Personnel and their shareholding maintained under Section 170 of the Companies Act, 2013 ('the ACT'), and the Register of Contracts or Arrangements in which the Directors are interested, maintained under Section 189 of the Act, will be available for inspection by the members at the AGM.

    7. Members seeking any information with respect to financials or any other information are requested to write to the Company at the earliest so as to enable the Company to provide appropriate reply.

    8. The Register of Members and Share Transfer Books will remain closed from 7th September, 2019 to 11th September, 2019 (both days inclusive).

    and SEBI Regulations

    3

  • NATIONAL PLASTIC TECHNOLOGIES LTD 9. Members wishing to claim dividends that remain unclaimed are requested to correspond with the Registrar and Share Transfer Agents as mentioned above, or the Company Secretary at the Company's registered office. Members are requested to note that dividends that are not claimed within seven years from the date of transfer to the Company's Unpaid Dividend Account will, as per Section 124 of the Act, be transferred to the Investor Education and Protection Fund (IEPF), shares on which dividend is unclaimed for seven consecutive years will be transferred to the IEPF as per Section 124 of the Act, and the applicable rules.

    10. Members holding shares in single name and in physical form are advised to make nomination in respect of their shareholding in the Company by submitting Form SH-14.

    11. Members holding shares in physical form are requested to intimate the Company regarding any change in their address/bank mandates to enable the Company to address future communications to their correct addresses. Members holding shares in electronic/dematerialised form are requested to inform the Depository Participant (DP) with whom they hold their demat account, about the changes in their address/bank details for necessary updates.

    12. The SEBI has mandated the submission of the Permanent Account Number (PAN) by every participant in the securities market. Members holding shares in elect