MCX Multi Commodity Exchange of India : Transcript of the Eighteenth Annual General Meeting held on August 31, 2020

MULTI COMMODITY EXCHANGE OF INDIA LIMITED

Transcript of the 18th Annual General Meeting

Held on August 31, 2020

11:30 A.M (IST) to 01:12 P.M (IST)

CORPORATE PARTICIPANTS:

Mr. Saurabh Chandra

Chairman, Public Interest Director

Mr. Amit Goela

Shareholder Director

Mr. Basant Seth

Public Interest Director

Dr. Bhartendu Kumar Gairola

Public Interest Director

Mr. Chengalath Jayaram

Shareholder Director

Dr. Deepali Pant Joshi

Public Interest Director

Mr. Hemang Raja

Shareholder Director

Ms. Madhu Vadera Jayakumar

Shareholder Director

Ms. Padma Raghunathan

Shareholder Director

Ms. Pravin Tripathi

Public Interest Director

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Mr. Shankar Aggarwal

Public Interest Director

Mr. P.S. Reddy

Managing Director and Chief Executive Officer

Mr. Ajay Puri

Company Secretary

Mr. Satyajeet Bolar

Chief Financial Officer

Other Key Executives and Senior Management and

Shareholders

WELCOME ADDRESS BY COMPANY SECRETARY:

Moderator:

I request you to unmute yourself sir, Thank you.

Company Secretary:

Dear Shareholders, Good Morning, I am Ajay Puri, Company Secretary, attending this meeting from New Delhi. I welcome you all to the 18th Annual General Meeting of Multi Commodity Exchange of India Limited, being electronically convened because of this Covid-19. I hope all is well at family and family members. I wish you all a safe health and good health. Now I would request our Chairman Mr. Saurabh Chandra, attending the meeting from Noida, to take the Chair, and proceed with the meeting. Thank you.

WELCOME ADDRESS BY CHAIRMAN:

Moderator:

I request Chairman sir to kindly unmute his audio.

Chairman sir, we request you to unmute your audio and video, Thank you.

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Chairman:

I welcome you all to the 18th Annual General Meeting of the Company. As the requisite quorum is present, I now call the meeting to order. In view of the outbreak of the COVID-19 pandemic across the globe and with the continuing restrictions on the movement of persons at several places in the Country, the Ministry of Corporate Affairs and SEBI have issued circulars/ guidelines/ notifications, whereby Companies are permitted to hold their Annual General Meeting through Video Conferencing/ Other Audio Visual Means and send the Annual Report and the Notice convening the Annual General Meeting electronically to the shareholders. Members may kindly note that the Company is in compliance with the aforesaid circulars/ guidelines/ notifications. Considering the health and safety of all our stakeholders and in particular the shareholders, the 18th Annual General Meeting of the Company is being conducted through Video Conferencing mode. The soft copy of the Annual Report for the Financial Year 2019-20, along with the Notice convening this AGM, has been sent to all the Shareholders of the Company, whose e-mail addresses are registered with the RTA or with the Depository Participants. Further, your Company had also provided a temporary facility of registering the email address with the RTA to facilitate attendance at the AGM and e-voting, as well as, to receive the Notice and Annual Report of the Company.

Let me introduce you, to the Directors of the Company attending the meeting through Video Conference.

• Mr. Amit Goela, Shareholder Director, attending from Mumbai;
• Mr. Basant Seth, Public Interest Director, attending from Kanpur;
• Dr. Bhartendu Kumar Gairola, Public interest Director, attending from Gurgaon;
• Mr. Chengalath Jayaram, Shareholder Director, attending from Mumbai;
• • (Good Morning)
• Dr. Deepali Pant Joshi, Public Interest Director, attending from Prayagraj;
• • (Good Morning, Thank you Sir)
• Mr. Hemang Raja, Shareholder Director, attending from Mumbai;
• • (Good Morning to all and welcome)
• Ms. Madhu Vadera Jayakumar, Shareholder Director, attending from Mumbai;
• • (Hello)
• Ms. Padma Raghunathan, Shareholder Director, attending from Mumbai;
• • (Good Morning to all)
• Mr. Shankar Aggarwal, Public Interest Director, attending from San Francisco, USA;
• • (Good Morning everyone)
• Ms. Pravin Tripathi, Public Interest Director, attending from Delhi;
• • (Good Morning to all)
• Mr. P.S. Reddy, Managing Director and Chief Executive Officer, attending from Mumbai.
• • (Good Morning)

The profile of the respective Directors is provided in the Annual Report, which has already been sent, I hope you had a chance to go through it. In accordance with the provisions of the Companies Act, 2013 and SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the Chairperson/ representatives of the Audit Committee, Stakeholders Relationship Committee and Nomination and

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Remuneration Committee are present to answer shareholders' queries. The Statutory Auditors, the Secretarial Auditors of the Company and the Scrutinizer are also present at the meeting.

REGISTERS AT THE MEETING:

Chairman:

The relevant documents/certificates related to the Annual Report 2019, can be viewed on this e-meeting portal. Members seeking to inspect the Statutory Registers required under the relevant provisions of the Companies Act, 2013 and the Rules made thereunder may make a formal request to the Company Secretary by giving their folio number/ DP ID on [e-mail] [e-mail]. Further, since the meeting is being held electronically, the proxy related procedures have been dispensed with, which is in line with the regulatory requirements.

NOTICE CONVENING THE MEETING:

Chairman:

As the Notice convening the Annual General Meeting dated July 25, 2020 along with the Annual Financial Statements and the Report of the Directors along with their Annexures already been circulated, with your permission, I would like to take them as read.

THE AUDITORS' REPORT / SECRETARIAL AUDIT REPORT:

Chairman:

Further, the Auditors' Report, as well as, the Secretarial Audit Report form part of the Annual Report 2019- 20, which has already been circulated. The Auditors' Report does not have any qualifications or observations or comments on the financial transactions, or matters as having any adverse effect on the functioning of the Company. With your permission, I would like to take the Auditors' Report along with the Annexures, as well as, the Secretarial Audit Report as read.

CHAIRMAN'S SPEECH:

Before we take up the business in the Notice, I would like to give a brief overview of the economy and Company's performance.

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