Atul Ltd 2019-20

89 Notice Explanatory statement The following explanatory statement, as required by Section 102 of the Companies Act, 2013, sets out material facts including the nature and concern or interest of the Directors in relation to the item of Special business under item number 4 mentioned in the accompanying Notice: Item number 4 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 ` 3.10 lakhs plus taxes as applicable and reimbursement of actual travel and out of pocket expenses for the financial year ending March 31, 2021. 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 Corporate identification number: L99999GJ1975PLC002859 May 14, 2020