Atul Ltd 2016-17

83 The applicants requested the Company to reclassify them as public shareholders on account of the following reasons: 1. They and persons acting in concert with them do not hold more than 0.01% shares in the Company. 2. They do not have any special rights in the Company through formal or informal arrangements. 3. They do not directly or indirectly, exercise control over the affairs of the Company. 4. They have neither any representation on the Board of the Company nor have any veto | special rights as to voting power or control over the Company. 5. They will not act as Key Managerial Personnel of the Company. In view of the explanations given by the applicants as detailed above and in accordance with the conditions stipulated in Regulation 31A of the Listing Regulations, the Board of Directors of the Company at their meeting held on May 05, 2017, recommended to the Members for reclassification of the applicants from the ‘promoters and promoter group category’ to ‘public category’. The Board recommends the passing of the Resolution in Item number 07 of the Notice as an Ordinary Resolution. Memorandum of interest None of the Directors or Key Managerial Personnel of the Company and their relatives are concerned or interested, financially or otherwise, in the said Resolution. Item number 08 In pursuance of Section 148(3) of the Companies Act, 2013 and Rule 14 of the Companies (Audit and Auditors) Rules, 2014, the appointment of the Cost Auditors and their remuneration as recommended by the Audit Committee requires approval by the Board of Directors (Board). The remuneration also requires ratification by the Members. On the recommendation of the Audit Committee, the Board considered and approved appointment of the Cost Auditors, R Nanabhoy & Co, Cost Accountants, for conducting Cost Audit of the applicable products in the category of Bulk Drugs, Chemicals, Insecticides, Inorganic Chemicals, Organic Chemicals and their derivatives and Polymers at a remuneration of ` 2.69 lakhs plus taxes as applicable and reimbursement of actual travel and out of pocket expenses for the financial year ending March 31, 2018. The Board seeks ratification of the aforesaid remuneration by the Members and accordingly requests their approval of the Ordinary Resolution. Memorandum of interest None of the Directors or Key Managerial Personnel of the Company and their relatives are concerned or interested, financially or otherwise, in the said Resolution. Registered office: By order of the Board of Directors Atul House G I Patel Marg (L P Patni) Ahmedabad 380 014, Gujarat Company Secretary and Chief Compliance Officer India CIN: L99999GJ1975PLC002859 May 05, 2017 CIN: Company Identification Number CPN: Certificate of Practice Number DIN: Director Identification Number FRN: Firm Registration Number