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Tata Power's 105th Annual General Meeting: Summary of Proceedings and Voting Results

Date: July 16, 2024

Key Points:

• Tata Power Company Limited held its 105th Annual General Meeting (AGM) on July 16, 2024, at 3:00 p.m. (IST) through video conferencing (VC) and other audio-visual means (OAVM).
• The meeting was chaired by Mr. N. Chandrasekaran and included all directors, senior leadership, and representatives from SRBC & CO. LLP, Makarand M. Joshi & Co., and Parikh and Associates.
• The AGM included presentations on the company’s financial performance, strategic initiatives, and sustainability efforts.
• The meeting concluded at 6:13 p.m. (IST), and the voting results were announced shortly thereafter.

Summary of AGM Proceedings:

Opening Remarks:

• The meeting was called to order by the Chairman, Mr. N. Chandrasekaran, after establishing the requisite quorum.
• The Company Secretary, Mr. Vispi S. Patel, welcomed all members and provided guidelines for participation through VC/OAVM.

Key Presentations:

• The Chairman and CEO, Dr. Praveer Sinha, presented the company's financial performance, business highlights, and future strategies.

Agenda Items:

• The following resolutions were discussed and voted on:
  1. Adoption of Audited Financial Statements for the year ended March 31, 2024.
  2. Adoption of Audited Consolidated Financial Statements for the year ended March 31, 2024.
  3. Declaration of dividend on Equity Shares for the financial year ended March 31, 2024.
  4. Re-appointment of Mr. N. Chandrasekaran as Director.
  5. Appointment of Mr. Tarun Bajaj as a Director and Independent Director.
  6. Ratification of Cost Auditor’s Remuneration.

Voting Results:

• All resolutions were passed with the requisite majority.
• Detailed voting results:
  1. Resolution 1: Adoption of Audited Financial Statements
     • Votes in Favor: 2,17,69,08,610 (99.95%)
     • Votes Against: 10,46,268 (0.05%)
  2. Resolution 2: Adoption of Audited Consolidated Financial Statements
     • Votes in Favor: 2,17,69,06,815 (99.95%)
     • Votes Against: 10,45,878 (0.05%)
  3. Resolution 3: Declaration of Dividend
     • Votes in Favor: 2,17,69,02,530 (99.94%)
     • Votes Against: 12,02,404 (0.06%)
  4. Resolution 4: Re-appointment of Mr. N. Chandrasekaran
     • Votes in Favor: 2,09,62,45,096 (96.24%)
     • Votes Against: 8,18,58,756 (3.76%)
  5. Resolution 5: Appointment of Mr. Tarun Bajaj
     • Votes in Favor: 2,17,72,02,778 (99.96%)
     • Votes Against: 8,95,689 (0.04%)
  6. Resolution 6: Ratification of Cost Auditor’s Remuneration
     • Votes in Favor: 2,17,80,75,665 (100.00%)
     • Votes Against: 21,647 (0.00%)

Conclusion: