Amal Ltd | Annual Report 2021-22 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 items of special business under item numbers 3, 4, 5, and 6 mentioned in the accompanying Notice: Item number 3 Deloitte Haskins & Sells LLP, Chartered Accountants (DHS) were appointed as the Statutory Auditors of the Company at the 43rd Annual General Meeting (AGM) held on June 30, 2017, until the conclusion of the 48th AGM. The first term of five years of DHS is expiring at the ensuing AGM. Pursuant to Section 139 of the Companies Act, 2013 and Rules made thereunder, the Company can reappoint DHS for second term of five years. Accordingly, based on the recommendation of the Audit Committee, the Board at its meeting held on April 22, 2022, recommended the reappointment of DHS, as the Statutory Auditors of the Company for second term of five years. DHS will hold the office for a further period of five consecutive years from the conclusion of the 48th AGM of the Company till the conclusion of the 53th AGM to be held in the year 2027. DHS has given their consent to act as the Auditors and confirmed its eligibility for appointment and eligibility certificate to that effect that, their reappointment, if made, would be in compliance with the applicable laws. The proposed remuneration to be paid to DHS for the first year of second term is ` 9.04 lakhs excluding taxes and out of pocket expenses. The remuneration to be paid to DHS during insert the remaining four years of the second termwill be mutually agreed between the Board of Directors and Statutory Auditors, from time to time. DHS is registered with the Institute of Chartered Accountants of India, firm registration number: 117366W | W-100018. The Firm has around 4,000 professionals and staff. DHS has offices in Ahmedabad, Bangalore, Chennai, Coimbatore, Delhi, Goa, Hyderabad, Jamshedpur, Kochi, Kolkata, Mumbai and Pune. The size, quality of audit services and volume of operations of DHS is commensurate with the size and audit requirements of the Company. 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. Item number 4 Subject to approval of the shareholders, the Board reappointed Mr Rajeev Kumar as a Managing Director for five years effective March 24, 2022. His brief résumé is given below: Name Mr Rajeev Kumar Date of birth July 01, 1972 Brief résumé Mr Rajeev Kumar is the Managing Director of the Company since March 24, 2017. Mr Kumar holds a graduate degree in Biotechnology (Pulp and Paper Engineering) from IIT, Roorkee and a postgraduate degree in Business Administration (Marketing) from IGNOU.
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