NOTICE TO THE SHAREHOLDERS
NOTICE is hereby given that 51st Annual General Meeting of the Membersof Satellite Engineering Limited, will be held on Monday, the 30th September,2013 at 12.00 Noon at the Registered office of the Company at 404, Swagat Building, C.G.Road, Ellisbridge, Ahmedabad- 380006 to transact the following business:
1. To receive, consider and adopt the Audited Balance Sheet as at 31st March 2013 andProfit & Loss Account for the year ended on that date together with theDirectors Report and Auditors Report thereon.
2. To appoint a Director in place of Mr. Aniket Shah, who retires by rotation and beingeligible, offers himself for reappointment.
3. To appoint Auditors of the Company and fix their remuneration.
4. To consider and if thought fit, to pass with or without modification, thefollowing resolution as a Special Resolution:
To Re-appoint Mr. Anand Shah, Managing Director of the Company with revision inremuneration terms
"RESOLVED THAT pursuant to Section 198, 269,309,310 and other applicableprovisions, if any of the Companies Act,1956, read with and in accordance with theconditions specified in Schedule XIII of the said Act and as recommended by theRemuneration Committee, the approval of the Members be and is hereby accorded forre-appointment of Mr. Anand Shah as Managing Director of the Company with effect from 1stApril, 2013 for a period of 3 years or till the Managing Director resigns from the officeof Directorship, with the revision in remuneration terms, as set out in the ExplanatoryStatement annexed hereto."
"RESOLVED FURTHER THAT, Board of Directors be and are hereby authorised totake such steps as may be necessary to give effect to this resolution".
5. To consider and if thought fit, to pass with or without modification, the followingresolution as an Ordinary Resolution:
"RESOLVED THAT Mr. Amit N. Shah, who was appointed by the Board of Directorsas an Additional Director of the Company w.e.f. February 14, 2013 and who holds officeupto the date of this Annual General Meeting of the Company in terms of Section 260 of theCompanies Act, 1956 ("the Act") and in respect of whom the Company has receiveda notice in writing from a Member under Section 257 of the Act, proposing his candidaturefor the office of the Director of the Company, be and is hereby appointed as a Director ofthe Company pursuant to Section 255 and other applicable provisions of the Companies Act,1956, whose period of office shall be liable to retire by rotation."
A member entitled to attend and vote at the meeting is entitled to appoint aproxy to attend and vote instead of himself and such proxy need not be a member of thecompany. Under the provisions of Companies Act, 1956, voting is by show of hands unless apoll is demanded by a member or members present in person, or by proxy, holding at leastone-tenth of the total shares entitled to vote on the resolution or by those holdingpaid-up capital of at least Rs. 50,000/-.
Explanatory Statement under section 173(2) of the Companies Act, 1956 isenclosed.
The Proxies should be deposited at the Registered office of the Company notless than 48 hours before the commencement of the meeting.
The Register of Members and Share Transfer Books of the Company shall remainclosed from Saturday, the 28th September, 2013 to Monday, the 30th September,2013 (both days inclusive).
At the ensuing Annual General Meeting, Mr. Aniket Shah, retire by rotationand being eligible offer himself for re-appointment. Mr. Anand Shah also proposed to bereappointed as Managing Director of the Company. Mr. Amit N. Shah was appointed as anAdditional Director and proposed to be appointed as Director in ensuing General Meeting.The information or details pertaining to them to be provided in terms of clause 49 of theListing Agreement with the Stock Exchange is furnished in the statement of CorporateGovernance published elsewhere in this Annual Report.
The Companys shares are listed at Mumbai Stock Exchange. The Companyhas paid listing fees to Mumbai Stock Exchange Limited for financial year 2013-2014.Presently, trading of shares is under suspended category and process of revocation ofsuspension is going on.
Important Communication to Members
The Ministry of Corporate Affairs has taken a "Green Initiative in the CorporateGovernance" by allowing paperless compliances by the companies and has issuedcircular stating that service of notice/documents including Annual Report can be sent bye-mail to its members. To support this green initiative of the Government, members whohave not registered their e-mail address, so far, are requested to get their e-mailaddresses, in respect of electronic holding with Depository through their concernedDepository Participants. Members who hold shares in Physical form, are requested to gettheir shares dematerialized.Please also note that you will be entitled to be furnishedfree of cost, with a copy of the Annual Report of the Company and all other documentsrequired by law to be attached thereto, upon receipt of a requisition from you, any time,as a member of the Company. Such a requisition may be sent to the Registered Office of theCompany at the address given below.
|Date: 30.05.2013 ||For Satellite Engineering Limited |
|Registered Office : || |
|404, Swagat Building, || |
|C.G. Road, Ellisbridge, ||Anand A. Shah |
|Ahmedabad - 380 006. ||Managing Director |