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Rishi Laser Ltd.

BSE: 526861 Sector: Engineering
NSE: N.A. ISIN Code: INE988D01012
BSE 16:01 | 22 May 19.20 -0.80
(-4.00%)
OPEN

20.10

HIGH

20.10

LOW

18.60

NSE 05:30 | 01 Jan Rishi Laser Ltd
OPEN 20.10
PREVIOUS CLOSE 20.00
VOLUME 3599
52-Week high 31.00
52-Week low 18.15
P/E 5.36
Mkt Cap.(Rs cr) 18
Buy Price 18.70
Buy Qty 250.00
Sell Price 19.20
Sell Qty 70.00
OPEN 20.10
CLOSE 20.00
VOLUME 3599
52-Week high 31.00
52-Week low 18.15
P/E 5.36
Mkt Cap.(Rs cr) 18
Buy Price 18.70
Buy Qty 250.00
Sell Price 19.20
Sell Qty 70.00

Rishi Laser Ltd. (RISHILASER) - Chairman Speech

Company chairman speech

ANNEXURE

EXPLANATORY STATEMENT UNDER SECTION 102 OF THE COMPANIES ACT 2013

Item No. 3 (Read with Item No. 5)

The Company at its 25th Annual General Meeting held on 20th September 2017 appointedM/s. B. D. Jokhakar & Co. Chartered Accountants Mumbai (FRN: 104345W) as theStatutory Auditors of the Company for a term of 5 financial years commenced from financialyear 2017-2018 and to hold office from the conclusion of 25th Annual General Meeting tillthe conclusion of the 30th Annual General Meeting.

M/s. B.D.Jokhakar & Co. Chartered Accountants Mumbai (FRN: 104345W) vide letterdated 06th August 2018 conveyed to the Company that due to their preoccupation with otherprofessional work they are unable to continue as Statutory Auditors and have thereforeresigned. The Company received the said letter on 08th August 2018.

Pursuant to the provisions of Section 139(8)(i) of the Companies Act 2013 any casualvacancy in the office of an auditor shall be filled by the Board of Directors withinthirty days from the date of resignation of an auditor subject to the approval of theshareholders of the company within three months of the recommendation of the Board andsaid auditor shall hold office till the conclusion of the next Annual General Meeting.Accordingly the Board of Directors at their meeting held on 14th August 2018 appointedM/s. Shah Mehta and Bakshi Chartered Accountants Vadodara (FRN:103824W) as StatutoryAuditors to fill the casual vacancy. The Board is mandated by law to seek approval ofmembers at the general meeting to be held within three months from the date ofrecommendation for appointment of auditors to fill the casual vacancy. As the Company isliable to convene its Annual General Meeting for the financial year 2017-2018 by 29thSeptember 2018 the resolution for approving the casual vacancy to the office of theauditors is placed herewith.

M/S. Shah Mehta and Bakshi Chartered Accountants Vadodara (FRN:103824W) who wereappointed to fill the casual vacancy are also eligible to act as the Statutory Auditorsfor the term of 5 financial years and to hold office from the conclusion of this AnnualGeneral Meeting till the conclusion of 31st Annual General Meeting of the Company. TheBoard of Directors have obtained necessary certificates conf irmations pursuant toprovisions of Section 139 (1) and the rules made thereto from M/s. Shah Mehta and BakshiChartered Accountants Vadodara (FRN : 103824W) and recommends to the members theirappointment.

The members may further delegate authority to the Board to determine in consultationwith the auditors remuneration payable to them alongwith the applicable taxes levies andreimbursement of travelling and other out-of-pocket expenses after taking intoconsideration the volume of work involved.

The Board of Directors recommends an Ordinary Resolution set out in item no. 3 underSpecial Business and Item No. 5 under Ordinary Business of the Notice for approval of theMembers.

No Director or Key Managerial Personnel of the Company or their relatives are in anyway concerned or interested in the said resolution.

Item No. 4

The Board of Directors on the recommendation of Audit Committee has approved theappointment and remuneration of Rs. 125000/- to the Cost Auditor M/s Pranab Chatterjee& Co. to conduct the audit of the cost records of the Company for financial yearending 31st March 2019.

In accordance with the provisions of Section 148 (3) of the Companies Act 2013 readwith the Rule 14 (a) (ii) of the Companies (Audit and Auditors) Rules 2014 theremuneration payable to the Cost Auditor has to be ratified by the shareholders of theCompany. Accordingly consent of the members is sought for passing an Ordinary Resolutionas set out at Item No. 4 of the Notice for ratification of the remuneration payable to theCost Auditor for the financial year ending 31st March 2019.

No Director or Key Managerial Personnel of the Company or their relatives are in anyway concerned or interested in the said resolution.

Date: 14-Aug-2018
Place : Mumbai
Registered Office: - By Order of the Board
612 Veena Killedar Industrial estate 10-14 Pais Street For Rishi Laser Ltd.
Byculla (W) Mrs. Supriya Joshi
Mumbai 400011. Company Secretary