SHETRON LIMITEDshetrongroup.in/pdf/AGM Notice 2015.pdf · shetron limited board of directors: ......

SHETRON LIMITED

BOARD OF DIRECTORS : Mr. Diwakar S. Shetty Executive Chairman : Mr. Kartik Nayak Managing Director : Mr. B.S. Patil Independent Director : Dr. M. Mahadeviah Independent Director : Dr. P P Shastri Independent Director : Mrs. Yashoda Diwakar Shetty Non-Executive Director

COMPANY SECRETARY : Mr. Naveen S D

SHARES OF THE COMPANY ARE LISTED AT : Bombay Stock Exchange Ltd Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

STATUTORY AUDITORS : PAL & SHANBHOGUE Chartered Accountants 24, 4th Main, Malleswaram, Bangalore - 560 003

BANKERS : COSMOS CO-OPERATIVE BANK LIMITED STATE BANK OF INDIA BANK OF INDIA

REGISTRAR AND TRANSFER AGENT : INTEGRATED INDIA ENTERPRISES (INDIA) LIMITED, No.30,Ramana Residency, 4th Cross, Sampige Road, Malleswaram, Bangalore - 560 003

REGISTERED OFFICE : Plot No.1, Bommasandra Industrial Area, Hosur Road, BANGALORE - 560 099

FACTORIES : i. Plot No.1, Bommasandra Industrial Area Hosur Road, BANGALORE - 560 099

ii. Mumbai-Nasik Highway, Post Vasind, Taluk Shahapur, Dist. Thane, MAHARASTRA - 421 604

35th Annual Report 2014-15

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NOTICENotice is hereby given that the 35th Annual General Meeting of the members of M/s Shetron Limited will be held on Wednesday, 16th September, 2015 at 10.00 A.M. at Koramangala Club, 6th Cross, CA 17, 6th Block, Bangalore – 560 095 to transact the following business :

ORDINARY BUSINESS :

1) Adoption of Financial Statements :

ToconsiderandadopttheStandaloneandConsolidatedAuditedFinancialStatementofProfitandLossforthe year ended 31st March, 2015 and the Audited Balance Sheet as at that date together with the Cash Flow Statement and the reports of the Board of Directors and Auditors thereon.

2) RatificationofappointmentofStatutoryAuditors:

Toconsiderandifthoughtfittopasswithorwithoutmodification(s)thefollowingresolutionasanOrdinary Resolution :

“RESOLVED THAT pursuant to Section 139, 142 and other applicable provisions of the Companies Act, 2013 andtheRulesmadethereunder,asamendedfromtimetotime,theCompanyherebyratifiestheappointmentofM/sPal&Shanbhogue,CharteredAccountants,Bangalore(FirmRegistrationNo.2528S)astheAuditorsoftheCompanytoholdofficefromtheconclusionofthisAnnualGeneralMeetingtilltheconclusionofthe36thAnnualGeneralMeetingoftheCompany,ataremunerationasmaybemutuallyagreedbetweentheBoard of Directors and the Auditors.”

SPECIAL BUSINESS :

3) Appointment of Dr. P P Shastri as an Independent Director :

Toconsiderandifthoughtfit,topasswithorwithoutmodification(s),thefollowingresolutionasanOrdinary Resolution :

“RESOLVED THATDr.PPShastri(holdingDIN02199254),whowasappointedbytheBoardofDirectorsasanAdditionalDirectoroftheCompanywitheffectfrom2ndFebruary2015andwhoholdstheofficeuptothedateofthisAnnualGeneralMeetingofthecompanyintermsofSection161(1)oftheCompaniesAct,2013(“theAct”)andwhoiseligibleforappointmentandinrespectofwhomtheCompanyhasreceivedanoticeinwritingunderSection160(1)oftheActfromaMemberproposinghiscandidaturefortheofficeofDirector,beand is hereby appointed as Director of the Company.”

“RESOLVED FURTHER THAT pursuant to the provisions of Sections 149, 152 and other applicable provisions,ifany,oftheAct,andtheRulesframedthereunderreadwithScheduleIVtotheAct,asamendedfromtimetotime,appointmentofDr.PPShastri(whomeetsthecriteriaforindependenceasprovidedinSection149(6)oftheAct)asanIndependentDirectoroftheCompanytoholdofficeforoneyearforatermuptotheconclusionofthe36thAGMoftheCompanybeandisherebyapproved.”

4) Appointment of Mrs. Yashoda Diwakar Shetty as Director :

Toconsiderandifthoughtfit,topasswithorwithoutmodification(s),thefollowingresolutionasanOrdinary Resolution :

“RESOLVED THATMrs.YashodaDiwakarShetty(holdingDIN00798116),whowasappointedbytheBoardof Directors as an Additional Director of the Company with effect from 2nd February 2015 and who holds theofficeuptothedateofthisAnnualGeneralMeetingoftheCompanypursuanttoprovisionsofSection161(1)oftheCompaniesAct,2013(‘theact’)andwhoiseligibleforappointmentandinrespectofwhomtheCompanyhasreceivedanoticeinwritingunderSection160(1)oftheActfromaMemberproposinghercandidaturefortheofficeofDirector,beandisherebyappointedaDirectoroftheCompanywhoseofficewillbe determined by retirement by rotation.”

SHETRON LIMITED

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5) RatificationofCostAuditors’remuneration:

Toconsiderandifthoughtfittopasswithorwithoutmodification(s)thefollowingresolutionasanOrdinary Resolution :

“RESOLVED THAT pursuant to Section 148 and other applicable provisions, if any, of the CompaniesAct,2013andtherulesmadethereunder,asamendedfromtimetotime,theCompanyherebyratifiestheremuneration of ` 75,000/-plusservice taxandout-of-pocketexpensespayable toMr.VishwanathBhat,Proprietor,Bhat&Co,(MembershipNo. :22986)whohavebeenappointedbytheBoardofDirectorsasthe Cost Auditor of the Company, to conduct the audit of Cost Records maintained by the Company for the FinancialYear2015-16.”

6) Borrowing Powers of the Company :

Toconsiderandifthoughtfit,topasswithorwithoutmodification(s),thefollowingresolutionasaSpecial Resolution:

“RESOLVED THAT in supersession of all the earlier resolutions passed in this regard under Companies Act, 1956(earlierinforce)andpursuanttotheprovisionsofSection180(1)(c)andotherapplicableprovisions,ifany, of the Companies Act, 2013 and the Rules made thereunder, as amended from time to time, the consent of the Company be and is hereby accorded to the Board of Directors of the Company to borrow money on behalf of the Company, from time to time, any sum or sums of monies which together with the monies already borrowedbytheCompany(apartfromtemporaryloansobtainedfromtheCompany’sbankersintheordinarycourseofbusiness)mayexceedtheaggregatepaid-upsharecapitaloftheCompanyanditsfreereserves,(thatistosayreservenotsetapartforanyspecificpurpose)providedthatthetotalamountsoborrowedbytheBoardshallnotatanytimeexceedthelimitof` 200Crores(RupeesTwoHundredCroresonly)ortheaggregate of the paid up capital and free reserves of the Company, whichever is higher.”

“RESOLVED FURTHER THAT the Board be and is hereby authorized to do all such acts, deeds and things, toexecuteallsuchdocuments,instrumentsandwritingsasmayberequiredtogiveeffecttothisResolution.”

7) Creation of Charges :

Toconsiderandifthoughtfit,topasswithorwithoutmodification(s),thefollowingresolutionasaSpecial Resolution:

“RESOLVED THAT in supersession of all the earlier resolutions passed in this regard under Companies Act, 1956(earlierinforce)andpursuanttotheprovisionsofSection180(1)(a)andotherapplicableprovisions,ifany, of the Companies Act, 2013, as amended from time to time, consent of the Company be and is hereby given to the Board of Directors of the Company to create such charges, mortgages and hypothecations in additiontotheexistingcharges,mortgagesandhypothecationscreatedbytheCompany,onsuchmovableandimmovableproperties,bothpresentandfuture,andinsuchmannerastheBoardmaydeemfit,togetherwithpowertotakeoverthesubstantialassetsoftheCompanyincertaineventsinfavourofbanks/financialinstitutions, other investing agencies and trustees for the holders of debentures/bonds/other instruments to securerupee/foreigncurrencyloansand/ortheissueofdebentureswhetherpartly/fullyconvertibleornon-convertibleand/orsecurities linkedtoOrdinaryShares/ ‘A’OrdinarySharesand/orrupee/foreigncurrencyconvertible bondsand/or foreign currencybondsand/or bondswith sharewarrantsattached (hereinaftercollectivelyreferredtoas“Loans”)providedthat thetotalamountofLoanstogetherwith interest thereon,additionalinterest,compoundinterest,liquidateddamages,commitmentcharges,premiumonpre-paymentoronredemption,costs,charges,expensesandallothermoniespayablebytheCompanyinrespectofthesaidLoansforwhichthechargeistobecreated,shallnot,atanytimeexceed` 200Crores(RupeesTwoHundredCroresonly)ortheaggregateofthepaidupcapitalandfreereservesoftheCompany,whicheverishigher.”

“RESOLVED FURTHER THAT the Board be and is hereby authorized to do all such acts, deeds and things, toexecuteallsuchdocuments,instrumentsandwritingsasmayberequiredto give effect to this Resolution.”


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8) Amendments to Articles of Association of the Company :

Toconsiderand if thoughtfit topasswithorwithoutmodification(s) the followingresolutionasaSpecial Resolution:

“RESOLVED THAT pursuant to the provisions of Section 14 and all other applicable provisions of the CompaniesAct,2013(statutorymodification(s)orre-enactmentthereof,forthetimebeinginforce),thenewdraft Articles as contained in the Articles of Association submitted to this meeting be and are hereby approved andadoptedinsubstitution,andtotheentireexclusionoftheregulationscontainedintheexistingArticlesofAssociation of the Company.

“RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorized to do all actsandtakeallsuchstepsasmaybenecessary,properorexpedienttogiveeffecttothisresolution.”

By the order of the BoardFor SHETRON LIMITED

Place : Bangalore DIWAKAR S SHETTYDate : 29th May, 2015 Chairman

NOTES :

1) Therelevantdetailsofthepersonsseekingre-appointment/appointmentasDirectorunderItemNo.3and4above,pursuanttoClause49oftheListingAgreemententeredintowiththeStockExchangeisannexedhereto.

2) Amemberentitledtoattendandvoteatthemeetingisentitledtoappointoneormoreproxiestoattendandvoteonapollinsteadofhimself/herselfandsuchaproxy/proxiesneednotbeamemberofthecompany.

3) Proxiesinordertobeeffectivemustbereceivedatthecompany'sregisteredofficenotlessthan48hoursbefore the meeting.

4) ApersoncanactasproxyonbehalfofMembersnotexceedingFifty(50)andholdingintheaggregatenotmorethan10%ofthetotalsharecapitaloftheCompany.IncaseaproxyisproposedtobeappointedbyaMember holding more than 10% of the total share capital of the Company carrying voting rights, then such proxyshallnotactasaproxyforanyotherpersonorshareholder.

5) Incaseofjointshareholdersattendingthemeeting,onlysuchjointholderwhoishigherintheorderofnameswill be entitled to vote.

6) CorporateMembersarerequestedtosendtotheCompanyadulycertifiedcopyof theBoardResolutionpursuant to Section 113 of the Companies Act, 2013 authorizing their representative to attend and vote at the AnnualGeneralMeeting.

7) TheExplanatoryStatementpursuanttoSection102oftheCompaniesAct,2013inrespectoftheSpecialBusinessunderItemNo.3toItemNo.8oftheNotice,isannexedhereto.

8) TheRegister ofMembers and ShareTransfer bookswill be closed from 10th September, 2015 to 16thSeptember,2015(boththedaysinclusive).

9) Memberdesiringinformationasregardsaccountsisrequestedtowritetothecompanyatanearlydatesoasto enable the management to keep the information ready.

10) Membersholdingsharesinphysical formarerequestedtonotifypromptlyanychangeintheiraddresstotheRegistrarandShareTransfer(RTA)agentsofthecompanyM/sIntegratedEnterprises(India)Limited,Bangalorequoting theirmembershipnumbersbesideschanges ifany in thedividendmandatesgivenbythem and those holding shares in electronic form may communicate the above information to their respective depository participants.

SHETRON LIMITED

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11) ProxyformandAttendanceSlipareattachedtothisAnnualReport.

12) Sofar,about96%ofthetotalnumberofsharesintheequitycapitalofthecompanyhasbeendematerialized.Inviewoftheadvantagesofthedepositorysystemandforeasytradingoftheshares,membersarerequestedto opt for dematerialization of the shares of the company through any of the depository participant of their choice.

13) MembersholdingsharesinDematformarerequestedtoincorporatetheDPIDnumberandclientIDnumberintheattendanceslip/proxyformforeasyidentificationofattendanceatthemeeting.

14) ElectroniccopyoftheAnnualReportfortheyear2014-15isbeingsenttoalltheMemberswhoseE-mailIDsareregisteredwiththeCompany/DepositaryParticipant(s).ThephysicalcopiesoftheAnnualReportisalsobeing sent in the permitted mode to all members of the company.

15) Unpaid/unclaimedDividendfortheyear2007-08isduefortransferon15thSeptember,2015totheInvestorEducation&ProtectionFundoftheCentralGovernment.Memberswhohavenotyetencashedtheirdividendwarrantsforthesaidyear,arerequestedtoclaimthedividend(s)bywritingtotheCompany’sRegistrar&TransferAgents,M/sIntegratedEnterprises(India)LimitedNo:30RamanaResidency,4thCross,SampigeRoad,Malleshwaram,Bangalore-560003.

16) TheSecuritiesandExchangeBoardofIndia(SEBI)hasmandatedthesubmissionofPermanentAccountNumber (PAN)byeveryparticipant in securitiesmarket.Membersholding shares inelectronic formare,therefore, requested tosubmit theirPAN to theirDepositoryParticipantswithwhom theyaremaintainingtheir demataccounts.Membersholdingshares inphysical formcansubmit theirPAN to theCompany’sRegistrar&TransferAgents,M/s IntegratedEnterprises (India) LimitedNo : 30RamanaResidency, 4thCross,SampigeRoad,Malleshwaram,Bangalore-560003.

17) TheformatoftheRegisterofMembersprescribedbytheMinistryofCorporateAffairsundertheCompaniesAct, 2013 requires the Company/ Share Registrars and Transfer Agents to record additional details ofMembers, including their PAN details, email address, bank details for payment of dividend, etc. A form for capturing the additional details is appended at the end of this Annual Report. Members holding shares in physicalformarerequestedtosubmitthefilledinformtotheCompanyoritsShareRegistrarsandTransferAgents.MembersholdingsharesinelectronicformarerequestedtosubmitthedetailstotheirrespectiveDepository Participants.

18) Tosupportthe“GreenInitiative”,MemberswhohavenotregisteredtheirE-mailaddressesarerequestedtoregisterthesamewiththeCompany’sShareRegistrarsandTransferAgents/theirDepositoryParticipants,inrespect of shares held in physical/ electronic mode respectively.

19) AspertheprovisionsoftheCompaniesAct,2013,facilityformakingnominationsisavailabletothemembersinrespectofthesharesheldbythem.NominationformscanbeobtainedfromtheCompany’sRegistrarsandTransfer Agents by Members holding shares in physical form. Members holding shares in electronic form may obtain Nomination forms from their respective Depository Participant.

20) Voting through Electronic means :

I. In compliance with provisions of Section 108 of the Companies Act, 2013 and Rule 20 of theCompanies(ManagementandAdministration)Rules,2014asamendedbyCompanies(ManagementandAdministration)AmendmentsRules,2015andClause35BoftheListingAgreement,theCompanyispleasedtoprovideMemberswithafacilitytoexercisetheirrighttovoteatthe35thAnnualGeneralMeeting(AGM)byelectronicmeansandthebusinessmaybetransactedthroughElectronicVoting(e-Voting)Services.ThefacilityforcastingthevotesbythemembersusinganelectronicvotingsystemfromaplaceotherthanvenueoftheAGM(“remotee-voting”)willbeprovidedbyCentralDepositoryServicesLimited(CDSL).


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II. The facility for voting through ballot paper shall bemade available at theAGMand themembersattendingthemeetingwhohavenotcasttheirvotebyremotee-votingshallbeabletoexercisetheirright at the meeting through ballot paper.

III. Thememberswhohavecasttheirvotebyremotee-votingpriortotheAGMmayalsoattendtheAGMbutshallnotbeentitledtocasttheirvoteagain.However,incasemembershavecasttheirvotesviaphysicalballotande-voting,thene-votingshallprevailandthevotedonethroughthephysicalballotshall be treated as invalid.

IV. The instructions for shareholders voting electronically are as under :

(i) Thevotingperiodbeginson13thSeptember,2015at9:00amandendson15thSeptember,2015at5:00pm.Duringthisperiodshareholders’oftheCompany,holdingshareseitherinphysicalformorindematerializedform,asonthecut-offdate(recorddate)of9thSeptember,2015,maycasttheirvoteelectronically.Thee-votingmoduleshallbedisabledbyCDSLforvotingthereafter.

(ii) Theshareholdersshouldlogontothee-votingwebsitewww.evotingindia.com.

(iii) ClickonShareholders.

(iv) NowEnteryourUserID

a. ForCDSL:16digitsbeneficiaryID, b. ForNSDL:8CharacterDPIDfollowedby8DigitsClientID, c. Members holding shares in Physical Form should enter Folio Number registered with the

Company.

(v) NextentertheImageVerificationasdisplayedandClickonLogin.

(vi) Ifyouareholdingsharesindematformandhadloggedontowww.evotingindia.comandvotedonanearliervotingofanycompany,thenyourexistingpasswordistobeused.

(vii) Ifyouareafirsttimeuserfollowthestepsgivenbelow:

For Members holding shares in Demat Form and Physical Form

PAN Enteryour10digitalpha-numeric*PANissuedbyIncomeTaxDepartment(Applicableforbothdematshareholdersaswellasphysicalshareholders)

• Members who have not updated their PAN with the Company/ DepositoryParticipantarerequestedtousethefirsttwolettersoftheirnameandthe8digitsofthesequencenumberinthePANfield.

• Incasethesequencenumberislessthan8digitsentertheapplicablenumberof0’sbeforethenumberafterthefirsttwocharactersofthenameinCAPITALletters.Eg.IfyournameisRameshKumarwithsequencenumber1thenenterRA00000001inthePANfield.

DOB EntertheDateofBirthasrecordedinyourdemataccountorinthecompanyrecordsfor the said demat account or folio in dd/mm/yyyy format.

Dividend Bank Details

EntertheDividendBankDetailsasrecordedinyourdemataccountorinthecompanyrecords for the said demat account or folio.

•PleaseentertheDOBorDividendBankDetailsinordertologin.Ifthedetailsarenot recorded with the depository or company please enter the member id / folio numberintheDividendBankdetailsfieldasmentionedininstruction(iv).

SHETRON LIMITED

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(viii) Afterenteringthesedetailsappropriately,clickon“SUBMIT”tab.

(ix) Members holding shares in physical form will then directly reach the Company selection screen.However,membersholdingsharesindematformwillnowreach‘PasswordCreation’menuwhereintheyarerequiredtomandatorilyentertheirloginpasswordinthenewpasswordfield.Kindlynotethatthis password is to be also used by the demat holders for voting for resolutions of any other company onwhichtheyareeligibletovote,providedthatcompanyoptsfore-votingthroughCDSLplatform.Itisstrongly recommended not to share your password with any other person and take utmost care to keep yourpasswordconfidential.

(x) ForMembersholdingsharesinphysicalform,thedetailscanbeusedonlyfore-votingontheresolutionscontained in this Notice.

(xi) ClickontheEVSN(E-VotingEventNumber)150805012.

(xii) On thevotingpage,youwillsee “RESOLUTIONDESCRIPTION”andagainst thesame theoption

“YES/NO” forvoting.Select theoption “YESorNO" as desired. The option “YES" implies that you

assent to the Resolution and option “NO" implies that you dissent to the Resolution.

(xiii) Clickonthe“RESOLUTIONSFILELINK”ifyouwishtoviewtheentireResolutiondetails.

(xiv) Afterselectingtheresolutionyouhavedecidedtovoteon,clickon“SUBMIT”.Aconfirmationboxwillbedisplayed.Ifyouwishtoconfirmyourvote,clickon“OK”,elsetochangeyourvote,clickon“CANCEL”andaccordinglymodifyyourvote.

(xv) Onceyou“CONFIRM”yourvoteontheresolution,youwillnotbeallowedtomodifyyourvote.

(xvi) Youcanalsotakeoutprintofthevotingdonebyyoubyclickingon“Clickheretoprint”optionontheVotingpage.

(xvii) IfDemataccountholderhas forgotten thesamepassword thenEnter theUser IDand the imageverificationcodeandclickonForgotPassword&enterthedetailsaspromptedbythesystem.

(xviii) NoteforNon–IndividualShareholdersandCustodians

• Non-Individual shareholders (i.e. other than Individuals, HUF, NRI etc.) and Custodian arerequiredtologontowww.evotingindia.comandregisterthemselvesasCorporates.

• Ascannedcopyof theRegistrationFormbearingthestampandsignof theentityshouldbeemailed to [email protected].

• Afterreceivingthelogindetailsacomplianceusershouldbecreatedusingtheadminloginandpassword.TheComplianceuserwouldbeabletolinktheaccount(s)forwhichtheywishtovoteon.

• Thelistofaccountsshouldbemailedtohelpdesk.evoting@cdslindia.comandonapprovaloftheaccounts they would be able to cast their vote.

• AscannedcopyoftheBoardResolutionandPowerofAttorney(POA)whichtheyhaveissuedin favour of the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify the same.

(xix) In case you have any queries or issues regarding e-voting, youmay refer theFrequentlyAskedQuestions(“FAQs”)ande-votingmanualavailableatwww.evotingindia.com,underhelpsectionorwrite an email to [email protected].


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V. Thevotingrightsofmembersshallbeinproportiontotheirsharesofthepaid-upequitysharecapitaloftheCompanyasonthecut-offdateof09thSeptember,2015.

VI. Anyperson,whoacquiressharesoftheCompanyandbecomememberoftheCompanyafterdispatchofthenoticeandholdingsharesasofthecut-offdatei.e.9thSeptember,2015,mayobtaintheloginIDandpasswordbysendingrequesttohelpdesk.evoting@cdslindia.com.

However,ifyouarealreadyregisteredwithCDSLforremotee-votingthenyoucanuseyourexistinguserIDandpasswordforcastingyourvote.Ifyouforgotyourpassword,youcanresetyourpasswordbyusing“ForgotUserDetails/Password”optionavailableonwww.evotingindia.com.

VII. A person, whose name is recorded in the Register of Members or in the register of beneficial ownersmaintainedbythedepositoriesasonthecut-offdatei.e.9thSeptember,2015onlyshallbeentitledtoavailthefacilityofremotee-votingaswellasvotingattheAGMthroughballotpaper

VIII. Ms.GauriBalankhe,PracticingCompanySecretary(MembershipNo.FCS7786)hasbeenappointedastheScrutinizerforprovidingfacilitytothemembersoftheCompanytoscrutinizethevotingandremotee-votingprocess in a fair and transparent manner.

IX. TheChairmanshall,attheAGM,attheendofdiscussionontheresolutionsonwhichvotingistobeheld,allowvotingwiththeassistanceofscrutinizer,byuseof“BallotPaper”forallthosememberswhoarepresentattheAGMbuthavenotcasttheirvotesbyavailingtheremotee-votingfacility.

X. TheScrutinizershallaftertheconclusionofvotingatthegeneralmeeting,willfirstcountthevotescastatthemeetingandthereafterunblockthevotescastthroughremotee-votinginthepresenceofatleasttwowitnesses not in the employment of the Company and shall make, not later than three days of the conclusion of theAGMa consolidated scrutinizer’s report of the total votes cast in favour or against, if any, to theChairman or a person authorized by him in writing, who shall countersign the same and declare the result of the voting forthwith.

XI. TheResultsdeclaredalongwiththereportoftheScrutinizershallbeplacedonthewebsiteoftheCompanyatwww.shetrongroup.comandon thewebsiteofCDSL immediatelyafter thedeclarationof resultby theChairman or a person authorised by him in writing. The results shall also be immediately forwarded to the BSE(BombayStockExchange).

XII. Resolutionsassentedtobytherequisitemajorityofthemembersbymeansofe-votingshallbedeemedtohavebeendulypassedattheAnnualGeneralMeeting.

XIII. Subjecttoreceiptofrequisitenumberofvotes,theResolutionsshallbedeemedtobepassedonthedateofthe Meeting, i.e. 16th September, 2015.



SHETRON LIMITED

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Explanatory Statement(Pursuant to Section 102 of the Companies Act, 2013)

As requiredbySection102of theCompaniesAct,2013 (Act), the followingexplanatorystatementsetsoutallmaterialfactsrelatingtothebusinessmentionedunderItemNo.2toItemNo.8oftheaccompanyingNotice:

ItemNo.2-RatificationofappointmentofStatutoryAuditors:

ThisStatementisprovidedthoughstrictlynotrequiredasperSection102oftheAct.

M/s Pal & Shanbhogue, CharteredAccountants, Bangalore (Firm Registration No.2528S), were appointed astheStatutoryAuditorsof theCompany foraperiodof threeyearsat the34thAnnualGeneralMeetingheldonSeptember 29, 2014.

AsperprovisionsofSection139(1)oftheAct,theirappointmentfortheabovetenureissubjecttoratificationbyMembersateveryAGM.

Accordingly,ratificationoftheMembersisbeingsoughtfortheproposalcontainedintheresolutionsetoutatItemNo. 2 of the accompanying Notice.

NoneoftheDirectorsandKeyManagerialPersonneloftheCompanyortheirrelativesareconcernedorinterestedfinanciallyorotherwise,intheresolutionsetoutatitemNo.2.

TheBoardrecommendstheresolutionsetforthinItemNo.2fortheapprovalofthemembers.

Item No. 3 - Appointment of Dr. P P Shastri as an Independent Director :

Dr. P P Shastri was appointed as an Additional Director of the Company with effect from 2nd February 2015 by the BoardofDirectorsunderSection161oftheCompaniesAct,2013.IntermsofSection161(1)oftheCompaniesAct,2013,Dr.PPShastriholdsofficeonlyuptothedateoftheforthcomingAGMbutheiseligibleforappointmentas a Director.

The Nomination and Remuneration Committee and the Board of Directors have recommended appointment of Dr.PPShastriasIndependentDirectoroftheCompany;whohasgivenadeclarationtotheBoardthathemeetsthecriteriaofindependenceasprovidedunderSection149(6)oftheCompaniesAct,2013.IntheopinionoftheBoard,theDirectorfulfilstheconditionsspecifiedintheCompaniesAct,2013andRulesmadethereunderforhisappointmentasanIndependentDirectoroftheCompanyandheisindependentofthemanagement.TheDirectorisnotdisqualifiedfrombeingappointedasaDirectorintermsofSection164oftheCompaniesAct,2013andhehasgivenhisconsenttoactasaDirector.Noticehasbeenreceivedfrommember(s)signifyingtheirintentiontopropose appointment of the Director.

AbriefprofileofIndependentDirectortobeappointed,includingnatureofhisexpertiseandotherdisclosuresasrequiredunderClause49oftheListingAgreement,isprovidedinannexuretothisNotice.

TheBoardconsidersthathiscontinuedassociationwouldbeofimmensebenefittotheCompanyanditisdesirabletocontinuetoavailtheservicesofDr.PPShstriasanIndependentDirector.

ExceptDr.PPShastri,noneoftheDirectorsandKeyManagerialPersonneloftheCompanyortheirrespectiverelativesareconcernedorinterestedintheresolutionatItemNo.3oftheaccompanyingNotice.

TheBoardrecommendstheresolutionsetforthinItemNo.3fortheapprovalof the members.


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Item No. 4 - Appointment of Mrs. Yashoda Diwakar Shetty as Director :

Mrs. Yashoda Diwakar Shetty was appointed as an Additional Director of the Company with effect from 2nd February 2015bytheBoardofDirectorsunderSection161oftheCompaniesAct,2013.IntermsofSection161(1)oftheCompaniesAct,2013,Mrs.YashodaDiwakarShettyholdsofficeonlyuptothedateoftheforthcomingAGMbutsheis eligible for appointment as a Director.

AnoticeunderSection160(1)oftheCompaniesAct,2013hasbeenreceivedfromaMembersignifyingitsintentionto propose Mrs. Yashoda Diwakar Shetty as a Director.

AspertheprovisionsoftheCompaniesAct,2013andtherevisedListingAgreement,allthelistedcompanyshouldhave minimum of one Woman Director on the Board. Accordingly, the Board recommends the resolution in relation to appointment of Mrs. Yashoda Diwakar Shetty as a Director, for the approval by the shareholders of the Company.

OtherthanMrs.YashodaDiwakarShetty,Mr.DiwakarSShettyandMr.KartikNayak,noneoftheDirectorsandKeyManagerial Personnel of the Company or their respective relatives are concerned or interested in the resolution at ItemNo.4oftheaccompanyingNotice.

TheBoardrecommendstheresolutionsetforthinItemNo.4fortheapprovalofthemembers.

Item No. 5 - Payment of Remuneration to the Cost Auditors :

PursuanttoSection148oftheCompaniesAct,2013,theCompanyisrequiredtohavetheauditofitscostrecordsconducted by a Cost Accountant in Practice. On the recommendation of the Audit Committee, the Board of Directors hasapprovedtheappointmentofMr.VishwanathBhat,ProprietorBhat&Co,(MembershipNo.:22986)astheCost Auditor of the Company to conduct audit of cost records of the Company for the products covered under the Companies(CostRecordsandAudit)Rules,2014fortheFinancialYear2015-16,ataremunerationof` 75,000/-plusservicetaxandreimbursementofout-of-pocketexpenses.

Mr.VishwanathBhathasfurnishedacertificateregardingtheireligibilityforappointmentasCostAuditorsoftheCompany.HehasvastexperienceinthefieldofcostauditandhasconductedtheauditofthecostrecordsoftheCompany for the previous years.

InaccordancewiththeprovisionsofSection148oftheActreadwithCompanies(CostRecordsandAudit)Rules,2014, the remuneration payable to the Cost Auditors as recommended by the Audit Committee and approved by the BoardofDirectorshastoberatifiedbythemembersoftheCompany.

Accordingly,theconsentofthemembersissoughtforpassinganOrdinaryResolutionassetoutatItemNo.5oftheNoticeforratificationoftheremunerationpayabletotheCostAuditorsfortheFinancialYear2015-16.

NoneoftheDirectorsandKeyManagerialPersonneloftheCompanyortheirrespectiverelativesareconcernedorinterestedintheresolutionatItemNo.5oftheaccompanyingNotice.

The Board recommends the resolution set forth in ItemNo.5fortheapprovalofthemembers.

Item No. 6 & 7 – Borrowing Powers of the Company and Creation of Charges :

UndertheerstwhileSection293(1)(d)oftheCompaniesAct,1956,theBoardofDirectorsofaCompanycould,with the consent of the Members obtained by an Ordinary Resolution, borrow moneys, apart from temporary loans obtainedfromtheCompany’sBankersintheordinarycourseofbusiness,inexcessoftheaggregateofthepaid-upcapitalandfreereservesoftheCompany,thatistosay,reservesnotsetapartforanyspecificpurpose.

Also,undererstwhileSection293(1)(a)oftheCompaniesAct,1956,theBoardofDirectorsofaCompanycould,with the consent of the Members obtained by an Ordinary Resolution, create charge/ mortgage/ hypothecation on theCompany’sassets,bothpresentand future, in favourof the lenders/trustees for theholdersofdebentures/bonds,tosecuretherepaymentofmoneysborrowedbytheCompany(includingtemporaryloansobtainedfromtheCompany’sBankersintheordinarycourseofbusiness).

SHETRON LIMITED

10

UndertheprovisionsofSection180(1)(c)andSection180(1)(a)oftheCompaniesAct,2013,theabovepowerscanbeexercisedbytheBoardonlywiththeconsentoftheMembersobtainedbyaSpecialResolution.Assuch,it is necessary to obtain fresh approval of the Members by means of a Special Resolution, to enable the Board of DirectorsoftheCompanytoborrowmoneys,apartfromtemporaryloansobtainedfromtheCompany’sBankersintheordinarycourseofbusiness,inexcessoftheaggregateofthepaid-upsharecapitalandfreereservesoftheCompanyandtocreatecharge/mortgage/hypothecationontheCompany’sassets,bothpresentandfuture, infavour of the lenders/trustees for the holders of debentures/bonds, to secure the repayment of moneys borrowed by theCompany(includingtemporaryloansobtainedfromtheCompany’sBankersintheordinarycourseofbusiness).

Itis,therefore,necessaryforthememberstopassaSpecialResolutionunderSection180(1)(c)readwithSection180(1)(a)andotherapplicableprovisionsoftheCompaniesAct,2013,assetoutatItemNo.6&7oftheNotice.

NoneoftheDirectorsandKeyManagerialPersonneloftheCompanyortheirrespectiverelativesareconcernedorinterestedintheresolutionatItemNo.6&7oftheaccompanyingNotice.

TheBoardrecommendstheresolutionSetfourthinItemNo.6&7fortheapprovalofthemembers.

Item No. 8 – Amendments to Articles of Association of the Company :

TheexistingArticlesofAssociation(AoA)basedontheCompaniesAct,1956andseveralregulationsintheexistingAoAcontainreferencestospecificsectionsoftheCompaniesAct,1956andsomeregulationsintheexistingAoAare no longer in conformity with the Companies Act, 2013.

Considering that substantive sections of the Companies Act, 2013 which deals with the general working of the Companiesstandnotified.ItisproposedtoamendtheexistingArticlesofAssociationtoalignitwiththeprovisionsofCompaniesAct,2013includingtheRulesframedthereunderandadoptionofspecificsectionsfromTable“F”toScheduleItotheCompaniesAct,2013whichsetsoutthemodelArticlesofAssociationforacompanylimitedbyshares.

Whilesomeof theArticlesof theexistingArticlesofAssociationof theCompanyrequirealterationordeletions,material changes that are proposed in the new draft Articles of Association are given below for ease of reference to shareholders.CertainprovisionsofexistingArticlesofAssociationhavebeensimplifiedbyprovidingreferencetorelevant Sections to the Companies Act, 2013 and the Rules framed thereunder, to avoid repetition in its entirety.

Pursuant to Section 14 of the Companies Act, 2013, the consent of the members of the Company by way of a SpecialResolutionisrequiredforadoptionofanewsetofArticlesofAssociationoftheCompany.

A copy of the new set of Articles of Association of the Company proposed to be adopted together with the propose alterationswould be available for inspection by themembers at theRegistered office of theCompany duringbusiness normal hours.

NoneoftheDirectorsandKeyManagerialPersonneloftheCompanyortheirrespectiverelativesareconcernedorinterestedintheresolutionatItemNo.8oftheaccompanyingNotice.

TheBoardrecommendstheresolutionsetforthatItemNo.8forapprovalofthemembers.




11

ANNEXURE TO NOTICE

APPOINTMENT OF DIRECTORS

Details of Directors seeking appointment/ re-appointment/retiring by rotation (In pursuance of Clause 49 of the listing agreement) :

1. Name Dr. P P Shastri

2. Date of Birth and Age May10,1948andAge:67Years

3. Date of Appointment 02.02.2015

4. Expertiseinspecificfunctionalareas He has wide range of Financial, Administrative, Research and Training experience.

5. Qualification Ph.D

6. NumberofSharesheldintheequitycapitalofthecompany Nil

7. Directorship held in other public companies 1.NRCLimited2.SVCSuperchemLimited

8. Committee/Executivepositionsheldinothercompanies Nil

1. Name Mrs. Yashoda Diwakar Shetty

2. Date of Birth and Age 11th July, 1951 and Age : 64 years

3. Date of Appointment 02.02.2015

4. Expertiseinspecificfunctionalareas Shehaswideexperienceinadministration.

5. NumberofSharesheldintheequitycapitalofthecompany 3,08,840EquityShares

6. Directorship held in other public companies 1.FibreFoilsLimited

2.KonjalMachinesPrivateLimited

3.ShetronEnterprisesPrivateLimited

4.BuntsPropertiesPrivateLimited

5.FibreBoardsLimited

7. Committee/Executivepositionsheldinothercompanies Nil

DearShareholder(s),

AsperthenewCompaniesAct,2013everyCompanyisrequiredtomaintainitsRegisterofMembersinnewformatfullyupdated.Inviewofthisnewrequirement,werequestyoutoprovidethedetailsassoughtbelowdulyfilledandsigned to our Registrar & Share Transfer Agents:

INTEGRATED INDIA ENTERPRISES (INDIA) LIMITED,No. 30, Ramana Residency, 4th Cross, Sampige Road,

Malleswaram,Bangalore-560003__________________________________________________________________________________________

Important note: Theshareholders holding shares in demat formare requested to update their details to theirDepository Participant where they have opened their Demat Account.

Dear Sir/Madam,

I/WewishtofurnishthefollowingdetailsforupdatingintheCompany’sRegisterofMemberspursuanttoSection88oftheCompaniesAct,2013andRule3(1)oftheCompanies(Management&Administration)Rules,2014.

Sl. No. Particulars Details

1 Folio Number

2 NameoftheShareholder(s)3 Father’s/Mother’s/SpouseName4 Occupation

5 Nationality

6 AddressoftheShareholder(s) (Pleaseencloseaddressproof–selfattestedcopyofPassport/DrivingLicense/BankPassBook/TelephoneBill/BankPassBook/AadharCard)

7 CIN (IncasetheshareholderisaCompany)

8 E-mailIDtowhichthedocuments/noticescanbeservedelectronically

9 Whether you wish to received Annual Reports in hard copy via Speedpost/RegisteredPost/CourierorsoftcopyviaE-Mail

10 PAN(Ifavailable) (Pleaseencloseselfattestedcopy)

11

A. Bank Name

B. Full Address of the Bank

C. 9 digit account code number of the Bank & Branch appearingontheMICRchequeissuedbytheBank. (Pleaseattachthephotocopyofachequeorablank cancelledchequeissuedbyyourBankforverifyingthe accuracyofthecodenumber)D.AccountType(SB/Current)E.BankAccountNumberF.IFSCCode

Place :

Date :

(SignatureoftheShareholder)

SHETRON THE NAME BEHIND THE NAMES

Regd.Office:PlotNo.1,BommasandraIndustrialAreaHosurRoad,Bangalore-560099PP : Tel :+91 80 27832290/92; Fax : +91 80 27832293

CIN : L21014KA1980PLC003842

AffixRevenue

Stamp



CIN : L21014KA1980PLC003842

FORM NO. MGT - 11 PROXY FORM[Pursuant to Section 105(6) of the Companies Act, 2013 and Rule 19(3) of the Companies (Management and Administration) Rules, 2014]

Name of the member(s)

Registered address E-mail IdFolio No/ Client IdDPID

I/We, being the member (s) of ……........................................................................……. shares of the above named company, hereby appoint

1. Name: ………….......................……………………..............................................………………….……………….....................…….............. Address: ………..........................……………………..............................................………………….……………….....................……........... E-mail Id : ………........................................................... Signature: ……...…………………...............................…….............. or failing him



asmy/ourproxytoattendandvote(onapoll)forme/usandonmy/ourbehalfatthe35thAnnualGeneralMeetingofthecompany,tobeheldontheWednesday,the16thSeptember2015at10:00AMatKoramangalaClub,6thCross,CA17,6thBlock,Bangalore–560095andatanyadjournmentthereofinrespectofsuchresolutionsasareindicated below:

Resolution No. Description of Resolution Special/Ordinary Optional

Ordinary Business : For Against1 Adoption of Financial Statements for the year ended March 31, 2015 Ordinary2 Ratification of appointment of Statutory Auditory Ordinary

Special Business :3 Appointment of Dr. P P Shastri as an Independent Director Ordinary4 Appointment of Mrs. Yashoda Diwakar Shetty as Director Ordinary5 Ratification of Cost Auditors’ Remuneration Ordinary6 Borrowing Powers of the Company Special7 Creation of Charges Special8 Amendments to Articles of Association of the Company Special

Signed this...............................day of .....................2015

Signature of Shareholder : .........................................................................................

Signature of Proxy holder(s) : .........................................................................................

Note :1. This form of proxy in order to be effective should be duly completed and deposited at the Registered Office of the Company, not less than 48 hours before

the commencement of the Meeting. 2. It is optional to put a “X” in the appropriate column against the Resolutions indicated in the box. If you leave the ‘For’ or ‘Against’ column blank any or all

Resolutions, your proxy will be entitled to vote in the manner as he / she thinks appropriate.3. Please complete all details of Member(s) in the above box before submission.

ATTENDANCE SLIP

35th ANNUAL GENERAL MEETINGDate: 16th September, 2015; Time: 10.00 a.m

Place: Koramangala Club, 6th Cross, CA 17, 6th Block, Bangalore – 560095

Note:

G AMember/Proxywishing toattend theMeetingmustcomplete thisAttendanceSlipbeforecoming to theMeeting and hand it over at the entrance.

G Bodies Corporate, whether a company or not, who are members, may attend through their authorised

representatives appointed under Section 113 of the Companies Act, 2013. A copy of authorisation should be

deposited with the Company.

G Incaseofsharesheldindemat/electronicform,thesignatureoftheBeneficialOwnerisliableforverificationwiththerecordfurnishedtotheCompanybyNSDL/CDSL.

G IfyouintendtoappointaProxy,pleasecompletetheProxyFormanddeposititattheCompany’sRegisteredOffice,atleast48 hours before the Meeting.

The Electronic Voting particulars are set out below:

EVSN (Electronic Voting

Sequence Number)PAN No./SEQ No. USER ID PASSWORD

150805012 ReferAGMNotice

PleaserefertoNoticeforinstructionsone-voting.

Remote E-Voting facility is available during the following period:

Commencement of remote E-Voting End of remote E-Voting

September13,2015(9.00A.M.) September15,2015(5.00P.M.)



CIN : L21014KA1980PLC003842

Form No. MGT - 12

Polling Paper[Pursuant to Section 109(5) of the Companies Act, 2013 and Rule 21(1)(c) of the Companies

(Management and Administration) Rules, 2014]

BALLOT PAPER

35th Annual General Meeting on 16th September, 2015, Wednesday, 10.00 am

Sl. No Particulars Details

1 Name of the First Named Shareholder (Inblockletters)

2 Postal address

3 RegisteredfolioNo./*ClientIDNo. (*Applicabletoinvestorsholdingsharesindematerializedform)

4 Class of Share Equity

I/Weherebyexercisemy/ourvoteinrespectofOrdinary/Specialresolutionenumeratedbelowbyrecordingmy/our assent or dissent to the said resolution in the following manner:

Sl. No. Item No.No. of shares held by me

I assent to the Resolution

I dissent from the

resolution

Ordinary Business :

1 Adoption of Financial Statements for the year ended March 31, 2015

2 RatificationofappointmentofStatutoryAuditor

Special Business :

3 AppointmentofDr.PPShastriasanIndependentDirector

4 Appointment of Mrs. Yashoda Diwakar Shetty as Director

5 RatificationofCostAuditors’Remuneration

6 Borrowing Powers of the Company

7 Creation of Charges

8 Amendments to Articles of Association of the Company

Place :

Date :

(SignatureoftheShareholder/AuthorizedRepresentative)



CIN : L21014KA1980PLC003842

INSTRUCTIONS

1. This ballot paper is for the members who havevotedthroughe-votingfacility.AMembercanoptforonlyone

modeofvotingi.e.eitherthroughe-votingorbyballotpaper.IfaMembercastsvotesinboththemodes,then

votecastthroughe-votingshallprevailandballotpapershallbetreatedasinvalid.

2. Votingrightsshallbereckonedonthepaidupvalueofthesharesregisteredinthenameoftheshareholders

asonthecut-offdatei.e.,9thSeptember,2015.

3. Thevoteshouldbecasteitherinfavouroragainstbyputtingtick(√)markinthecolumnprovidedforassent

or dissent. Ballot paper bearing tick marks in both the columns will be treated as invalid. Please do not use

Pencil.

4. This formshouldbecompletedandsignedby theMember/Proxyholderasper thespecimensignatures

registeredwiththeCompany/Depository.Incaseofjointholding,thisformshouldbecompletedandsigned

bythefirstnamedmember.

5. Anycutting/overwritingonthisBallotpapershouldbesignedbytheshareholder/Proxyholder.

6. TherewillbeonlyoneBallotFormforeveryFolio/DPIDClientIDirrespectiveofthenumberofJointHolders.

7. Unsigned,incomplete,improperlyorincorrectlytickmarkedBallotpaperwillberejected.

8. Toavoidfraudulenttransactions,theidentity/signatureoftheMembersholdingsharesinelectronic/demat

formisverifiedwiththespecimensignaturesfurnishedbyNSDL/CDSLandthatofMembersholdingshares

inphysicalformisverifiedaspertherecordsoftheShareTransferAgentoftheCompanyi.e.IntegratedIndia

Enterprises(India)Limited.Membersarerequestedtokeepthesameupdated.

9. Where the Ballot Form has been signed by an authorized representative of the body corporate/ trust/ society,

etc.acertifiedcopyoftherelevantauthorisation/boardresolutiontovoteshouldaccompanytheBallotForm.

10. ThedecisionofScrutinizeronthevalidityoftheballotpaperandanyotherrelatedmattershallbefinal.

11. TheScrutinizerwillcollatethevotesdownloadedfrome-VotingsystemandvotescastthroughBallotPaper

todeclarethefinalresultforeachoftheresolutionsenumeratedabove.

12. The results shall be declared after date ofAGM of the Company. The results declared along with the

ScrutinizershallbeplacedontheCompany’swebsite:www.shetrongroup.comandonthewebsiteofCDSL

www.evoting.csdl.com.withinthree(3)daysofpassingoftheresolutionsattheAGMoftheCompanyand

communicatedtoBombayStockExchange.

G G G

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