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Madhur Industries Ltd.1.\Cir i(io,ed Erpon Hous)

FORIVIIB

clausc 31 (a) otListingAg.eeme.t

FomotofLaverins lettelalthe on\uot.rdit.epatttobeiledwith thestock Exchonse

Nrnre ol the .oiipany MADHUR INDISTRIES I-IM ITED

i,r*,,r,r.,a, L q.. r rm--q,,.t r",lFrcqqrnrtqlgltlLltrrrM .occnon,Dri\,,nr.nii.n b rel.vantnot.sintheannualtin:o.ial Non CompLia.ce wirhstrtenefts and nranrgenrcnt Accountihgstandirdsr,.0u,..'orFqr.,rrn.'ui t ' a,.tt-ta ai,l 'l 1\

r rrr lr'rdto 5rPporr Btre[L

Response o, Managem€nt:The goa'd or D recrors trouldprc.Jut onrrl meaiu e\ to ivo !lquJlLn( run n iur!r.-

co'n.lcntrn'.n The R.rrd ot Drectors rod (nnrn(tccaudrt.o0rmiLt.c nenrbc.s \rould trke.orrcdive {cps to i!.id

.'' l.q"llr...rui 'r r.'

(MR vlur ?Alt {!LL -t /. -lr

(MR. vlNrT pARrX[l ]Iudit Conrnittco ichairmanl v D sh? t t)

(MR, VITTAL4 SHMTY](For,M/s. Y. s. MANWANI & co.)

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BFnd6:.r,APM.e*dN.1 P1D6ll vi!]l|tl/l/!nr,!|,!l)fud,

MADHUR INDUSTRIES LIMITED(CI : Ls19O9GJI973PLCO02252)

E4qlslDRDD o=4!leEf

MADIIAVPURA MARKET,

6HAHIBAC ROAD,

cojronarE!&4DllrrNlqa4uon94le:MADTIUR COMPLEX,

STADIUM CBOSS ROAD,

NAVRAIcPURTT,

AHMDDAAAD - 3AOOO9

ANNUAL REPORT

2014- 1s

MR VINIT PARI(H]V]R SI]ALIN PARIKIINIR NARENDRA CHAVDA :

NIR. VITTALA SIIETTY

NIRS BHAVNA MEH-TA

BOARp OF DIRECTORSI

MANAGINO DIRECTOR& CHIEF

INDEPENDENTI]IRECTOR

INDEFFN]]E\T I]IRECTOR

AUDITORSI

M/S.V.S.MANWANt&CO.C HAR] ti Rt D AC(:OU NTANTS [Nl No.:162129]:103 2,l aARiT COVPLE\NTAR ROC( ITECENCY IIOTEI-,

REGISTRAR &SHARN TA4XSII R AGENT:

M/S. LINX INTIMEINDIAPVT LTDuNlINO303,3])FLOORSHOPPERS PLATA OPP, MT'NICIPAL NIARI(FTAEHINDSIIOFPERS PLAzAlI,

ANCES WHERE THE SHARES OF THE COMP

1, THE BO MBAY STOCK EXCHAN CE LIMITED

25 TFLoOR,P j',tolvERs,DALAI,sTREET FORT

2, THEAHMEDABAD STOCK EXCHANCE LIMITED

IiAMDIF,NU COMPLEX,OPP SAHJANAN D COLLECE,I'AN]AILqPOLE, ANIBAWADI.AIl[lEDABAD 330015

!lr!r \!lir rii:\Lr,!

1 lL:!drr! i itrl,er(..d Ii., !r r. lnta5ritdr : :,' ..i l

i!..rLL

i\t \t)ilLR t\DllsRII:\ r.rMr Ir,r)

\o'lt( t

STECLAL BI]SINES!

5.

10 .onsnlsr aDd il thorght Ut to pass with .. Njthout nodrfication, thc followLng

rosolutjon as an Ordinary Resolution:

"RESOLVED THAT prmant to the prdvisiuns uf Se.tions 149 152 and other

appli..bleprovisronsrianyoftheConrpanjesAct,20l3rndthcrulest.rmcdthere

unde, 'ord

Nith S.hedul.ll to dre A.t, ar!mended frofi.nrc to time rdsubrelttd

approvrloithe inenrbers oithe Con,pany, MRS. BHAVNA NIEHTA (DlN:070026r51, a

DirlctoroftheConrfaDy who has subnrittcd a declarltron thrt slre nleets the .ritc a

for indepcn.len.e as proejded in Scction 149 [6] of the A.t and who ls eliSibld for

appoiftnent be apportrted as 3n lodeFerdeht Dlre.lor ol the conrlany \rith effect

n'.rn30LS.ptcnrber,2015lbrrconsecutivtpc.i.dorFivs[5]ananoaLye!6.ndn.t

liabLe to retne by rotation "

To .onsmer rnd ii thorght fit to pass \rith or \vithout modifi.ation, drc foLloLvinC

resolIioD as aD Ordinary Resolution:

"REsoLvED THAT DU(rant to nre pro!(rons oiSection 197 rnd Sc.tion ll oi Pa[ ll

dfS.hedrle V olthc CompanLes A.t,2013 and othor applicable provisi.ns and rules

hnmed thereurder, a|fr.vrl oa the ntcnrbers.l th. Coirp.ny be !nd is hereby

tr..oklrd ro pa! rhe Mrnaeerial Remunc'!u.n to N1R vlNlT PARIKH, Manrgihg

Di.edorof theCompJny(DIN: 004945211 of Rs 75,000/'pin orasmaybeButually

rgreed b.tween B.ard of Djre.roN ol the Company and Mr. Vrnit PaIkh \,.e1 1'r

MADHTIR INDUSRIES LIMITED

MADHUR INDUSRIES I,IMITED

"RESOLVED FURTHER THAT Ln th. clcnt dl any loss or iinde!ra.! dl rhe ptultb of

tfie ConDantr rn aDy lir)ancirlyear, th. rcD nreraroDasmenrionedLntherbovesttrted

resoLution dlall bc Datd as lvtinirnun nernun.ration ro Mr. Vinrt parikh in ttrc

r.inJ nins tcrnr ol hrs trppornrleDr rnd tIe srnr. sha lLc subjecr ro rhd tnn]tr:s set

our jD sc.ron ll ol P.ir Il .i s( ul( c ! ol dre conrpliies ]\.t 2013 mctLkljng aryrmc xl,.eDt, Drodih..ti!n !ari.ronor re..rucrnrentthcruof.'

"RESOLVED FURTHER THAT thc Board ol Dir..toN tre and is h.r.hy .urirorzed ro

tlo rl such rG, dce,ls and thlrgs as miy bc re!ui).cd ind to (leleEatc altor.i! otrspo\rrrs he,0rn n ier,r{ln):nv.ornmitne.t{Irc.toN r. Aile effer t to th. rror.s d

To .onsi.le. rDd if thorghr ljr to pass with or \vjthout mo.lifi.ation, the foltorv ne

rcsoLution N an 0r.linary Resolution:

'RESOLVED THAT pusuant to thc proviston:.iSecrioD 197 and Scclon of part II

ofSchedule V ol !he Conrpanie! A.t,2013 and orher .pplicatrLe provisions Jnd ruLes

tamcd thereunder rpproral oI t|r nNDbers ol rhe Company bc and is hereby

accordcd tdpaydre MaDaAcn!LReo Lnerationto MR StiALtN pARtKH, Directo.oitheComfany (DlN,00494506) of R\ 10,000/ pm o. as nray bo Drutu.lty agrccd

berweeh Board ol Directors oi rhe CoJnpany and Mr. shatin Pa.ikh w.e.i. 1.LApriL,

2015.',

"RESOLVED aURTHERTHAT Lr the event of an! loss or jn!.leqm.y oa rho profiB ofthe Coorfan, nr iU linaD.irl!d.n, drc remtrtrdIt on as Drcnrionsd in tLc!boye srtric.t

reintrlionshallL. prld as lujDiDuir Rerntrnerarj.. ro Mr. Shatin parkh a d rhe sanr0

nrall bc subje.i n) rhe lLm ts as \cr out rtr se..on rr of prtr lt or Schcdutc V ot the

Co t3tr cs Act,2013 iIcu{linr Jrv ahendDent, 'nodiii.arion

rnrtari. .r ft

MADHUR INDUSRIES LIMITED

-RESOLVED FURTHTR THAT rhe tror otD rcctox bc and rs hereby trrdr.nrcd ro

.lo allnL.h Jcts deed5 rDd rhmgs a\ ril, be requi ed nnd to doLegrrc aI oriD! ofirsporEb hcrejD.onter red t. in! conrDrittcs ofdirc.roi5 to eive effe.t nr are rtoresajd

BY THE ORDER OF THE BOARD OF DIRICTONS,

FOR, IlIADH U R INDUSTRI ES I-IM ITET)

(DIN:00494521)

NOTE5:

l A M.nber cnntled to nrtcnd atrd vore at the ahove nrsetinE is entitte.l to appoint,pr.lt to attend and voie inste.d orhj,nsef / heffetrrnd such pmxy need not be a

Dremb.r ol t|o.ompaiy. tfs[uDr.nt ot prox], ir ordor to bc effedtve mrt be

.cceLved hythecohrpany Dotless rhan 49 hotrN beroet[emectin8

2. A Stateh.nt puNUrnt to se.ti.n to2 (1l.frIe co.rpanics A.t,2013, reirtjDs ro theSp..r!LBusiness to bd t.!nsrct.d !tthe Nlcdtirre is annexed hercto

3. For Members lvhose coail IDs r.o fot regtstercd, physical.op)es otrtre Notice a.ebeins scnt by pcrhrttcd ilode. Thc Memb.rs olrhc conrpany rvho have registeredtheir cnuil addrcs r.e rts. entirLed to re.o ve L.h commu cation in physicaltbh, upon request

l. lnfo.mrtion rs requjred under .huse 49 (Vt ) (E) [1] or rhc Listins Atsreenrcht.cgardinErppointnrent/reappoLnhnent!rDire.roff are Jnncxe.lheret!.


P rsrant to Section 101 lnd Scctjon 136 of the conpanies Act, 2013 rcad lvith

r.lcvrit RuLds nude there trnder tIc Notice alonc $ith Explanatory State]nctrt is

bcirc sent ro all the meinbe$ rhose namos !prre3. in the Reghtcr of Memhe.s /Lrsi of Benen.ial olvnets, rcceivcd lrcD NsDL / cDsL as on c o.c ol business hors

on FRIDAY, 14,3 AUcUsT, 2015. The Non.e along \rith Explanatory staternent is

bernE seft to liJcnrDeE !r clcct,onl. forh ro d,c c.rJil rddresses rc8istered with

their Depost.i] PJ.cipants {rn .as. oi elc.tr.nl. sha.eholdinEl / the Companyt

Itcsht.ar and Sharc TrarstcrAscnts (in case ofphysGlshdreholdinsl.

lu'strant to thr f,o!annrs of Sertnn, 91 or ths C!mpnnies A.t, 2013 the Regjsr.r ol

NIc )cx atrd Slrar Trrn\rir Soolts ol th. CdDrprnJ tr lL ,cDrri .losed hom

Wedn.sdar 23,i ScpteDber, 2015 b WedDcsdar, 30rh SeDtoDDer, 2015 lbdrl,

nays incLusive) rn conoecnoD !vith ACv

7. As a nrcasu.e oleconoDry, AnnualREpo.t wjllnot be distdbuted at the Meeting So,

DrembeN are requested to hring dleir .opt ol Annual Repor! with them to the

Aonurl 0erenL lV.ctih8.

A Th. Noti.. of ACNI, AnnralReport and Attendd lce Shp are beirE seni ih ele.nori.

nrode to Members wlrose emarL add..ss rre re8kterod wLth the Company or the

DeFository Parlicipant(sl, unless the [4cDrbets havc re!kteredthcrr reqre{ forthe

hard copy ol the eme PhysLGl .!py ol the Notjce ol ACNL Annual Report and

AttendrDce Slip rrc being senr ro those ilcmhcrr rvho hrvc not registered thcjr

cinail address lvLth the complny or Dcposit.ry lartkipan(sl. MenrbeE rvhd hrve

recelred the Noti.e of ACM, Anrull Refo.t rnd Anendan.o SlLp in elec.otri. mode

are reqtrested to printdre Attendrnce SLjp rt dre Registation Counter at the ACM.

MADHIIR INDIJSRIES LIMITED

Itr conrpLian.e rvl$ the provisrons of Section 103 ofthe Comprnjcs Act,2013.ead

with Rule 20 oi the conpanies (Manascment and Adminisrrationl Arrendment

Rulcs,2015 and Clausc 353 of Listing Agreement, the Company k provrdinB E_

Votnl8ftr.ility to trlL tl,e meDrbers Nhose nxhes rppsrr il tlre RegisterolMembers /benefkral orvners as onthe Eut.ollnrte r e ZfIISEPTFMBER. 2 01s who maycas

tIen vote by elc..o.i. iroilc on al] resolutions in rospc.t ol business set forth rn

the lorice throush e votinE servrces Frovided by CDSL, throush their portal

htp:/Ar\vw.e!oti'rslulir..om in this re$rd, ne'nber 3.c notifitd drt Ii] the

conrpany has cornpleted the disp.tch of Notice dnorsh permitted nrodc to all the

nrcnrb.6.f rh..of1trn)l indtr du!LlyalofgvithrheexplaoltorynrtenrcDraDd

(iil Votitrs rhrcush.lcct.onic nrcans shall comnrence nom 9i00 4.I4. o! 2?lSEPTEMBER. 201S and.nd ar 5:00 P.M. on 29rtrSEP?EMBER.2015. Please nore

th.t e votins is opnonaL lr .ase a nicmber has voted throrsh e vontre facLlrty he/

nre is notnlloLred to votc ii thcAnnualCercrallleetins

The Nlenrber lyho nrnde$ his / her shnres belore the ctrt-ofl date i.e. ?a|!SEPTEMBER. 2o15, is hot elgible to vore to dre extent oI trrnsfer nrde bt hjnr/

her ontheRcsohrtions mentio,r.d iD thd N!ti.c

Anype.sonwh!rcqui.estheSharesofth.Conrpanyafterdlspat.hoftheNoticeoi

dre CeDerl Mc.iing and holdirg $e Sharus on the Cut.olT Darc i.c. 23!9

SEPTFT{BER, 2015. nray request to thc Compan} ob regktered mail ID of the

compaiyie.nrio(qoulllluitrltrnr$hr!ler!!!rrroobbjnihcUserlD&Passi,otrl.

The Rcsults oi E votins alone with nre s.rutihlzers Report shaLl bc d..larcd and

pla.rd on $e Comp.nys lvebsite and on thc website of CDSL

btlE\r/rrr rrqeli,sud@sol, on or bcfore 6:00 P,M. on 3oTHSEPTEMBER. 201s

trnd.onnnuni.akd t. $e BsE l,rnnredlvhoretheshares oilheCoJhFnt arelijed

tPLta,a ttu\.tnn tn2al tL.anttn n\cn2at3)

As required b! se.tion 102 oI the conryontes A.t, 2013 (fhe,Act), the lottowingENplonatory storenent sets out a htuterial |aets tulatins to the speciot Businesstuentioned undet Lem No. 1, 5 & 6 oJ the acnnponlins Notice:

EXPLANATORY STATEMENT

\i ll recrors x..or(liDg! rsonnretrd tof appoinrneDt ot l\4rs Bhavna Mehra as an

hdependent Dire.rorotthe coDlDny \! e t 3oi, septenrber,20ls as sot our jf the enabhDg

rcsolLtido at lter No.4 forthc approntot$e yenrLcrs.

To.onrpll, with thc provrsions ofCl.n'rc 49 !fthe LisnrgAgreenrcnr and Sectjcn 149.fthecoDrpxiies Act, 2013, thc Boad has r..oirhehdcd re appointment of tr1Rs. BHAVNA

lilEllTA (DlN:07002645) as rn tndepeh.tdht Dire.tor $,.c.t Septeriber 3O 2Ol5 ro

S.nteDrber 29,2020. NIrs. Bhrvna Nlehta has giv.n n d0clararion to the Board that she

meets the critera ofindspcndence as provLded n se.rion 1,19 [6] oftbe Act. h opinion ofthe Boa.d, Mrs Bhavna llehra fulfilLs the .onditnntr spe.ificd in rhe Act rnd thc ru es

n'rhr.d there under for apponrmcnt as lDdepend.ht Direcro. tn.or,plirn.e wtth the

provisj!ns olScctioh l49 readwirh SdredrLe L! olrIet.t, tlreappointment otME Bhavna

Nlehtr,s lndependcnt trtrector.is no\v b.ingflaced bolirre the Mcmbcrs lorthdt.app,ovat.The terhs and .ondjtions oi appoiftn].nt ot Mr. Bhavnr Mchra shall tre opeD tbr

rnspe.tionbythelvlcrbeffattlreRegistered0ttjceoftheComDanyduritrshoan!lbusness

houE on an], trorljne.l)y.

Non..lthetlird(or.orl(ct,MtrniteriilPer.nn.t((NIpl.,rhe&nnpantrorrheifktr!!.sr\L.pt Mrs. Bhrvnr Nlcrr i\ r.i.ernell .r iitsssr.d, fin.ud.nL! or othcn 5e, iI th.rcsohrtn , setortat lrctrr No 4


It.m No.5:

The recommeDdation ivrs toade to appreciateand to encouraBethe contribrtions demted

by dre Dn'ectoB bt thd wry otpayLng tbe remuner.tion to th.n lor the finan.ial year 2015'

t5 Ho\veler, due to iiad.qua.y.r Froft ths MlDaecnrent of Company nrtefned to adopt

thc S.hedule V olthe Companies A.1,2013 to pry the Remuneration to the Djrecto6 olthe

Thc froposrlwas Dradc to pay the ManagerialRenNne.ation ofRs.75,000/- F.nr. or as may

be mutually rgreed behveen Board of Dlrd.iors otdre Cornpantr and MR VtNtT PARIKtt,

M.na8ingDire.toroftheConrpanyID1N00494521)rv.e.itsApril,20t5Snrcethepront

of thE .onrpany is innrlicieDr for FayLng the remune.ation, rhe dis.ussion was made to

.omplywjrh the prcvnions otS.heduLe V dfthe Con,panies Act,2013 for thesame

MADHUR INDUSRIES I-IMITEI)

Yorr Dnedorr tr..o'd ngly re.oDrmeDd ior DayNent oI l\lriraEerial Reniunemnon of Rs.

7s000/. p.m. or as frry be mutualy agreed bet1leen Board orDirecto.s ofthe Conrpafy

.nd Mr VrDit Parikh \v.e f 1n April,2015 as ser oui in ilrc eDibliDg resoltrrio[ ]1 lle n No.5

n], ihe rDprov.l oidre \lcnrberf,

None olrhc Djre.ld6 o' (cy Manrserirl

er.ept l\1i Virit Parikh is ..nfurred

resoLurl.nsor!r tit lten) No.5

]'Ie re.ohinendrtion rvas nlrde to apprcciateatrd to encoura!e the contrLbutrons devorcd

by the DLrectors bytbe lvay oiraynlgthe rernunenti.n to thc,n for the financialyea.20ls.

16. Howdcr, d[e to inadcqua.y ofpronrrhe M]naSemeDr ofConrpary i cnd.d to adopt

rhe Schcdrlc V.fthe Conrlanjes A.t,2013 b pry the Remrneration to thc Dirc.toN ofrhe

feAonnel Ixr'lP] orrhe cornprny ortheir rel.lives

or ifi.restod, finan.lrly or othcrsNe h the


l he proposal was mad. ro paythe Manlgeial Remuneration ofRs 30 000/. p m..r rs maybe mrtualL! ag.oed bct1leen Bo!rd ol Directod otthc Cojnpany aDd MR. SHALTN pARIKH,

Difc.tor of the Company (DIN: 00494S06) \ve.t tn Aprit, Z0tS Since rhe prolir of thc.onrpany is innrfficicnt for patinE the remunsrrtion, the djscussion wrs nrade to cdmptyivith the provisions olschedute v ofthe companies Acr,2o13 forthcsanre.

lin r D re.to,s r.co.dingLI re.onrn,end tor paym.nt

30,000/. t m. or rs nay be mLtually agree(l bcnlt.nand Mr. shalir Pankh !!...1 1n ApriL, 2015 as set out iD

tor rhe aDrr ovat of the !tenrbcrs.

ol Managcl.l Remuneration of Rs

Board.f DrcctoB of th. aompany

theenabllne resolunon nrlt.m No 6

\o rt ol the Dire.toBorK.! tlt:rsSeratp.Ionnet(KNIp)otrhcaohrp.ryorthe], rc i.vesr\.ept N1r. Shrlin Parlkh rs .utr.r ned .r iNfle$od tfinoa h, !r ottretrlisc o th.resoLtL.h setortat kenr N. 6

DATI: 1.r/03/2015

BYTHE ORDEROF THE BOARD OF DIRECTORS,

FOR, MADHUR IN DUSTRIES LI MITEI)

MR. VINIT PARIKHMANAGING DIRICTOR

(DIN:00494521)

MADHIIR INDUSRIES LIMITED

, lnlormatron puhuant to Clau\e 4c ol the ListinS A8reemeht with reSard loDrreclor\ \eekrns appornrment / re.Jppointment ar lhe lorth(oming Annurl

: General Meetins:

; MR- SHALIN PARII(H lDlN: 00494S061 - DIRECTORI

llR. SHALIN PARIKH (D|Nr0049.15061is r D['ector ofdre conlpany hom 15 yeus andhas e\perience of 10 to 15 yerrs in the nnLcs reLated to adinLni't.rtivd $ork r.d h.sdegree ol Ba.holor ot CoDnnotc [Jr sha]m Pifkh is not berg dire.to. in atry odrer.onrpaDy and.haiDraD / nrember ol Boa|d CornDlittees ofotherconlpanics

,l".il ',d'1r r ru'.p", 1,00,914 FqurtL sh.rc\.

z MRs, BHAVNA MEHTA IDIN: 07002645)jXA[EXICUT.IyE!{OI!4!{ DlBlSIOfu

l\iRS. SHAVNA IUEHTA (DIN: 07002645), holds degree olcrrduate and has erpefiise inadnrinistrtrtile rvork. Belo{ is a list olotherc.mpanies in which MRs. BHAVNA MEJITAk n Dire.tor ard cIrir.rah / member ol Board Coi.mittecs ofotherconrpdnjes:

)r. Li{olorherdir.'ror\hrp (hair'nanshrp/Memh.r\hrpofa.mn rc.s nfrhe Rord ofother

I l\'IAIIHI,IICAPJTAI,ANDFINANCE NlembcrolNoininationrndLlt ll'IEl) Remu.cBttun Comnittec

Sh:'r 'ullljnt

j' ihc' in nri,'Nll.


THE lNSTRll(TIONS FOR E-VOTINGI

SECT!ONA. E.VOTINC PROCESS:

[r] The v.tiilg penod bogrs on 27 i SEPTEI4BER.2015 FROM 9:00 AM. T0 29 iSEPTEMaER 2015at5:00P.Nl Du'ing thG period shareholde.s ofthe Conrplny,

hokling share. either ir physi.al nnrn or h dehJte alized form, rs oh the .ut ofi

darc (rocord dltel of23Fp SEPTEMBER 2015 hray.ast rhci, v.tc ctc.noni.alty. The

c votingmoduld shtrllhc dsrhled by CDSI- for vorjDg rhereatter.

{ii) sharetiolders who haye alrcady vot.d prior to the meetirrs date rvould not be

cntit.d to uote ntdre mectinglenue.

[rn] Theshrrehdldcrs should loaon to the e voting \rcbsi!e \vw!v ev.tjnsind i.nnn

(iv) ClckohShrreholdcN.

lvl No$EDteryourUs.r ID.

, ForCt)SL: l6diglB Benefi.ifiI lJ),

b. For NSDL:3 Character DP lU iollorved by 3 Diejrs Client lD,

c. IlembeB holding a)!s rn Physical Fo.n should enrer Fo[o Number

regntered with the Cohpany

(vil NcxtentertheInrsdve t canon.sdLsplJyed aDd cli.kon Logi,r

(vi'l Ityou are holdirrsshares iD demar lonn md had logged on to Lvirw ev.nnsi!do(lr$and votd.n an e*lLer eotin! oianycoDrpany,th.nyourcxisting prs$lord is to he

MADHTIR INDTISRIES I,IMITET)

t\ ,l liyouarca Jirt.irc u.e. f!llos ihe sieps grvcn bclo$:

For M€mbers holdinEslnres in Dehat Form and Physical Fornr

Enter your 10 nisit .l a numeri. rPAN issued by ln.ome TayDepJiment (Apphc!hLe ror both demat shareholdeN as ryeLl as

Mcnrbe.s \1ro hare not updated thei. PAN with the

Company/Depository Pa icrpant are requested to use dre firstt1vo lettcrs of t[ejr nan]e rnd thc 8 digits of th. scquen.snumberinthe PAN 6eld.

ln case the sequence n0mbor 6less nlan 8 digts enter thE

.rplr.ah c iumlrer ol 0 s Lenrc tho nunrhe, 3ft e, thr llrst troch!mner oldre Dame iD CAPITAL leueb. Es,lfylur name rs

RJnresh Ktrmar with sequen.c numbe. r thdn enrsr

IDoB)

RAo00l)00{rl in rhePAN Fe d

Entcr dr. Drvldend B.nk Details or Date or Eirth (in ddlrnm/yyD,lonnat)ds re.orded irr your denratn..otrnt o: io theLonrprn,.eLd \

Il bofi drc d.biLs a.c not recorded reith Lhe deposirory orcomprny plcasc cnter the nrernber nl / lolio number rn theD:\ da'dBJr .1,' l.',1,1". rer(oFdrr r.,lrn..or.[.]

Nr Ani, r1,B te."n".i..,ppop""r.t).ii,,oh.JuB14tT -.b

0l MembeN holdnr,t sh:res ih lhys(aL lorh will then dn'o.tly reac[ the companyseledion scroen. However, nrcDbe.s holdrns s|arcs jD d.nrat lorn $ilL row Each'Passvord Creation'toeru wherern they are requned td.rand3torily rntor thei.L€n passlvord in th. nclv nassrvord Ue d Kindly rore rhar rhu prss\rord rs to beJLo uscd by the demrt holders forloting for r.solurjons ofany other.onrprhy oo

Nhi.h they arc eLigible to votc, provrdcd that compaDt opts for e.voting tlxo0ghCDSI, pLattomr It js i.otrgl! r'ecornnrerded not to share your passlvord !!itI anyother person and trke utordst carc to k!ep your Dasslvoln .onlide.tial.

i l{ivl click o. t[e "RESOLUTIoNS f'lLE LIN(" iryou sish to vrelv the eot re Reso]ution

(xi) For $lembei\ rrolding shrres in rhysi.aL fonn, the details.an be used only lbr e.

voting on thD.tsoLLtions c.ntri,r.d in thk Noticc

Iri]l Cli.k on thd EVSN i.e. "150425041" for thc r.l.v3nt CompJny Name i.e. l{ADHURINDUSTRIES Ll M lTEp on \vhich !ou choose to vote.

(ylill 0n thevotinB page,you lvill see'RESOLUTI0N DESCRIPTION'and agtriDstthe same

the option "YEs/N0' lor voang Select drc option YES or NO rs deslred. The opnonYES impLies th!t you assent to the Res!lution aDd oDtiotr NO impLies thrt you dhsentb dr. Rcso ur oi

Gv) Aft{ seledLns dre rcsoLntion }ou h.ve dc.ided td vote 0., . j.k o. 'sl,B[4lT A

.onfin,rtion bor L,i L he d nrl.yed. llyou \vish to .oniifln tour vote .I on '0( ,

elsetoclaD8cvorrv.te,click oi'CANCEL"lndaccordinsly Dodrfyy.urvote.

(xvil 0nce you'coNFlRll'your voto oD rhc resolution, you wLllhot be allolvod to modify

lrvjil Youmnahoiake!printoftrevotescsibycL!kreon aLick here to pri)t' .ptidnonnreVotingprAe.

(xv li) Ila deDrai account hold.r has lorgot.r th. LoCin passirord then Enterthe User lD

and thc inageve ll. idi.odrrnd.li.k oh FoBot Pas$lord & ent.r the det.jk as

prompted by dre s!idnr.

tlxl Note lorNon - Individual Sh.reholders.nd Custodiansl


r Non.lndivldu!l shareholders (i.e other than hrdividrals, HUF, NRI etcl and

cusro{liaD aF rcqu re.l to log on to u\!{!t!ns!r!u.!!!t drd regist.r nremselves

MADHIIR INDIISRIES I,IMITED

A scanned .opy ol thc Rc8khation Form beaing the strmp and siBn of the entity

shoukl he onalcd to hsh&Jss&rullddlndiM.

After rercivLns the los n detarls . conplLance User should b. created $inE tbe

adnrn login .nd prsslo.d -rhe coN|lrance User \louLd be able to hnk lhe

r..oun(, ror $hicI they wish to vote on

The llst of accounts linkcd iir thc Login sh.uld b. nraiLed to

helodesk.erotjns.m.{ls jtrdL.r.oh aDd on appro!dl ol the !ccounts ihcy lvould be

A scaDDcd copy of $e Boa Resolunon and Power oi Attomey [PoA] lvhL.h they

ha!e issued in favour of the Cu$.dian, ifahy, should be upLold8l in PDF fornlrt in

thesystem for the scrutinizerto vo ifyrhe srno.

lr .3se you have nD! (Lueries or issues

F'cquently Asked Qrestjons ('FAQs')LNwe!ohnPirrdi.r.onr, und.r holph.Lndosk ev.titrgra.(ldindia..nr

rcgardhrg .'votinE, you Draj refer $eand c'votinC manMl avrihble at

s..ti.n or rvrite an email to

SECTION B . COMMENCEMENT OT E VOTINC PERIOD AND OTHER E.VOTING

INSTRUCTIONS:

i,-lheE-Votnr8pe'iodconnnencesonzTrkSEPTEMBER.20lSl09:ooA.M.landend\

on 29rHsEP'IE BER.2015 (S:00 P.M.l Duirhg this leriod shareholdes .f rhe

Company, holding sha.es either in physicai rornr or in dcmate.ldLized rorn1, as on

ellLojfulat! je 23{0 SEPTEMBFR. 201s may cast their vore etectron(atly. The e

VotjDg moduleshallbc dls!bLed lor votilg thereatter. Once the vote on a rcsolution

h.a$ by the sh3rcholder, the shrr.holder slrall not be allowed to.hlngc it

MADHUR INDUSRIES I,IMITET)

Thc voting rlChts ofshareholders shallbe ir p.oportion ro thcirsharcs orrhc paid

t,pEquityShrrdCJpiralof tIeCooiprny.

cS Anish shah, Prr.tisins Coorpany Se.ret.ry (Monrbership No.: FCS 4713i CP No:

6560) (Addre$ D- 413, S[ironlniCoDp]ex,opp.ocean Park,5M. Road, S:rellite,

Ahnredabad - 380 015, cujaDt, Indl)l hrs been appointed as thc s.rtrtjnizer ro

scruuniTe rhe e.VobnE process

Thcs.rutinizershall, within a period Doter.eedinsth.ce (31rvorktnE.lays h.om the

.on.lusLon of the e'!oting penod, unblo.k the v.tes in the presence orat Least xvo

(21 lvitDsrs not n thc employnenr or the Company aDd maL(o a scrutinizers

Rcporl ot the uoi.s .ast rD frvor or against, rf any and submit torth with to rhe

Charmran of the coinpdny

The Results shall be de.lared alonB Iith the Scrutiirizefs Reporl stra]Lbo plsced oh

the conrpanys Nsbsite and on the w0bsitc.fCusL htrps //rvrs!.evoungindja..o.inon o' hclore 6100 P.M. on 30rH SEPTEMBER.20lS rnd .onrnruntcatcd ro the BSE

Limjtcd and National St..k Ex.hrngc of lndia Linritrd, where dre shares of rhe

iii.

vi. The resolLrtions shill be deenrcd ro bc passed on the date of the Annual ceneral

NlceI nB,subjed to re.e,lrt of nrllicient votes

vii.Forlilembe.sholdingara,esrtrphvsi.Jlfomr,thepassvordanddelaultnumber.an

b.!sedonLytire-Votingontheresolutronsgiveointhcnotice


viii. l.stitution3l Shareholde.s (j.c orher than individurls, HUF, NRt er..) a.e r.qui'cdro loB on to https //L,r:t!l!ott!rs!rr!l!!o.]i! 3nd reshrer thejnselves as coDorates,

Linkthcirr..ountrhich they\rirh rovorc on and rhcnclstthetr vote,Theyshou d

srbmrt a s.rnned copy olthe R.lhratioi Fonn benring the stamp and sLgn oftheentity t! |elldesl{ov.ting(D!!L!rrLl{qon. Theyshodd also uptoad ! !.anhed copy

olrhc Bor Rcsolution / Po\ver olAtroncy (PoAl whjch they have irsued r iavor

olthe CustorliJn,,f any, h PDF lo) nrltt iI tIe syiem fo. the scrutinizer to vctly dre

ix. You can ako updateyorr mobile n0mbdr rnd E mailtD jn rhe user pronle detatk ot

the lolio lvhr.h nray be used rorsendins.onnnu0icariortsl regardi.g cDsL c-t,.ting

srrstem in ruhL.e The sam. mlv be used rr crse rhc Member toryets the oa$wordand the sainE n.e,lstoh. r.\ei

x. The Memhors are .squcsted to pay attenrLon to tbe mrner th:t on.c hc / she has

exer.lsed hn / herr8ht rhen hc / she nraLlnot he aLtowed to chansc his / hervote

subsequeDay inrnycasc.

xi, lD.asc you havc any querics or hsues

Freqrently Asked QuEtions I rAQl)rvmv.evotnrgihdia.com unde' heLp

lrelskr[[email protected]!lirnlia.op

tgai(Lnc e voung, you may rerer the

xnd o-Votnr8 manml availablo ar

se.tion .r wriie

MADHTIR INDUSRIES LIMITED

MADEUR INDUSTRI ES LllttlTED

Registered O(ice, [4AUHAvPL RA MARKET,SHAHIBAC ROADAHNIEI)A3AI)

ro' porrrr a 4d'ninisrrJrion Ofhce: \'lDIlUR COI4I FX,STAD IUM CROSS ROADNAVR.ANCPURT\,AHNIEDABAD-33OOO9

{Tl 079. 26s'r3361!v\!rl.nradh! rdustricninrit.d..oinEmail:iDlo@rn hrlitrdusideslimite{l.omCIN: LSl909C)1973P1C002252

Name olthe Sole / First Named Member

Arldress ol sole / Fnst N:med l{ember

Registered Folio Numbe.

@Puûant to pr.vsions ol sccijon 108 ol the Companids Act, 2013 read with t[caonpso,cs (]!ianls.'nent and Adnrirnsn3donl Rules, 2014 trs ainended bl theCompa.res (Mana8cment& Adnrhisn'atio.l ADrendment Rules 2015, ahd Chusc 3sB oldre LisrlDg Agreetrrent, dre Conrpatry is pLeased to ofier remote e voting facility to thenrcmboB to.ast drea vores ele.rroni.rlly rs an aLternative to pa.ti.ipation !! rhe 42Annual Cendrul lUdenng oi drc Compant to be hold on 30rN SEPTEN{EER 2015 atMADHUR COMPLEX, STADl]]M

'ROSS ROAD. NAVRANCPURA AHMEDABAD 33OOO9.

The Comp.ny hN engaEed dre servi.es oi CentraL Depository Serriccs ll) Lirnited

i CDSL'l toprovideremote e.voting la.ilities. Remote e votingnieansdre fn.ility tocastvotes bya Member using ele.troni.voting systcm tiom, place other thdn the vetr 0olrhe AcM The rehote e-votirg ta.ihy is avaiLable at the linkh(0r t1!r-\\,.sotrrsLnd a c.r!.

?4

MADHIIR INDIJSRIES LIMITED

lhc elecnonic votine pdticulars rre set out b.low:

EVEN fE-votins Event Number) Password / sequence No.

Thc rcmote e.votins r!ci itylvrllbe avaLlable durins the lollowins votins Deriod:

COMMENCEM ENT O F REMOTE E.VOTING

I'h tcprnrba /Ul t (q 00 A l\ll

Plcasp ,e3d the rnst.uctions printed below before exerrisnrg tho vote.

Thcsc details a.d instn(tions f.rfr integrrl part of the Nuti.e for the ADnual CcrcmlMeetiDB ro be held on 3orir SEP-rEl\'lBER, 2015

NEMBERS ARE REQUESTED TO FOLLOW TIIE INS'IRUCTIONS FOR REMOTE E.VO|INA A5MENTION IN THE ANNUAL REPORT,

END OF REMOTE E.VOTING

2c. sepiernber.lul5 (5 nn P M.l


DIRECTORS' REPORT

MADHUR INDUSTRIES LIMITED

Your Dtrecn{s have pleasu.e Ln prcscnnng her&vl rheir,12-iAnnual Report on thebusincss and.tc'!tron of the Conpany toBerhe.rjth rh. Audited Statemens oiAc.ountsorthe (ornpaoy fortheycar ended on 31$ Niardr 2015.

1, PERFORMANCE OF THE COMPANY 'STANDALONEI:

Ej.ln Lacsl

Less: Expcnditurc ior dre yeJ.ex.ludnrBDepre.iation and Amorliz:..r EYp

(luoLltl

Lr\s Denrc.'arin rnd An urr.tLu' E\p (lB 441 i21.231Less. Er.epr u' J ltcn s (0 54Prolit or Loss after Depreci.tion andAno.tization Exp. But beforeTax

(0 rrl NLProrit or Loss After Tax

Thc aoDrpary h.se.nredatota Ln.ome olRs.l03l76 Li.sjn the .urreDt linancial yoar2014.15, dgainst total ir.omc oi Rs. 1009.54 La.s in the iormediJtely pre.edingtiDan.LiLyerr. Ihs net proit oltIc Company tbrthe yer. is Rs r.12 LJ.s as.ohprredto Rs, tr.22 Llcs nr the prcvlous yerr. The Cornpany willtry to achicve the p€.fo.m:n.ein t.rts ol profit in next ycar by nrnknrg nror. inltiatlvcs in the altivities or the

DMDENDI

Wlt| a viel, !o enlurge the busincss opcrations ofth. Conrproy, th. Di.c.t.i! d notre.onrhlcnd dividend fd thp aun'.niY.ir

3, DIRECTORSAND XEY MANAGERIAL PERSONNEL:

P!'ruant to the provisions se.tion ls2 (61 otPARI(H [DlN: 00.194506] Diredur of dreIonh.oming Annual CencraL Nleeting and

the Cornpaoies Act, l0lli, lvlli SIIALINCompany reti.e by rotatron at thebeing eligible, oii!rs hrmsell ior

Ptrrsuant to the provisions sectron 149 & 152 ol the c.npaniei a.t, 2013, MRsBIIAVNA MEHTA 0rN:070026451, a Dircctor of the Company, be appolnted !sIndependentD,rcctorlortetr.oiFjvcyeJsNLtheifecti.onr30,hScpt.nrbcr20l5

The terms of MaDaEeri.l ReDtrnc.ation paid ol NIR VINIT PAR|(H & MR. SHALINPARI(ll are revised as per as per the S.hedulc V as provided in the nelvly enacted

The interv.niigAap beftveenthe M.ctings Nrs within the period proscribed undortIe

PuEuaDr to the provisLons Sccaon 149 & 152 of rhe Companies Act, 2013, MR.NARENDRA CIIAVDA (DlN 023770551& NlR. VITTALA SHETTY (DtN: 023307351 haveb.en rppointed as an hrdepe.{lent Dn ccnrs fortenn oiFive years rvith efied n.om 30LiSeptenrber 2014. Furher, NR5. BHAyNA [IEHTA (DlN 07002645] has bEdn trppointedas Wonun Dire.tdr Lf ith elfect trcm 30o Seprembcr, 2014.

Thc company his .c.crved declararions arom all lhe lndependent Lrire.ros of theComFny coifirnnnE that they freet Lfith the citeria ol independence as pres.ribedundc, nLb{ection 6 olSe.tjon l49 of the Conrpanics Ad, 20l3 and under Clx se 49 ofthc ListingAEreerneht whi.h is hereLy enclosed as'Annextrre I'.

Als., MR VlNIT pARll(ll has been apponned ChjcfF[ranorLOh.er \vith effcd Irom 13n

4 MEETINCSI

Drring the y.ar, Flvc Board NIeeriDHs and Four Audit ConnnLttee MeetinEs were duly.ohvon.da0d held.The folLoNjngJretheddtes onrvli.hrhesrid Borrd l\'leerlngs hekl:

May 30.20r4 Aueust 13. 2014 N.venrher 14 2014 FebrLarv 11. 2015 & 24tr N1rr.h2015

MADHTJR INDIISRIES I,IMITED

5, (OMMITTEESI

The company h$ severaL conrmitteds whrch have beeo cstablished as a part of best

.orporatc EovernJh.e prx.ti.cs and are in .ompLia..e with the requi.ements ot rh.

relevinr provhlons ofapplicrblE lNs aDd statues.

The Board has constitute{l follolring Conrmitteei:

;, Nomrn!rlon and Ro,n u nehtioD Comrn ftee

. StrkchoLdersRel.rtionslnlCo,nmittee

- s6:.c T,,nsfPr (ifrntitt..

Tlre details Lvith.espd.t to the conrpositions, porves, rol.s, terns of.oference etc of

relev.nt .otumittees ar. giveD in detJil in the Rep.ft on corporate CoveNan.e' olthe

coinp!.y \{hi.h forns pJr ot rhis Af nunl Report

6, EXTtrACTS OFANNUAL RETURN:

Puruant to suh{edi!. 3 Gl ot section r34.id nLbie.tion (31 ofSe.ti.n 92 of the

coDrpanies Act 20r3, ,e:d \!nh Rrle 12 of the Companies (Manrgement and

Adinilktmtion) Rxlet, 20r4 the erna.ts ol the Anou, Rcturn as at lilardr 31,2015

iomipartoidrisreportas Annexur.:ll'

7. SI{I!]QAiAUO!TqBS &4UD]f-AEtOll

PursuaDt to thc provisions of Se.il.n 139 ol the Coinprnics Act, 2013, M/S, V. S

UA!!!4!I-&-!O. ahid.r.d i...rntaits, (NlembetshLp No.: 1621291, hive bcen

apponxcd as Statunny ,ltr{1rt.$ of thc .oirprny I.om the conclusion of dris Annurl

CeneDl [leetinE nll thc conc]usnm or Forty selexth Annudl Cenoal MeehnE of th.conpanv to be held lbrthe year20r9.20, fo.a consecutive period olFive (51financlal

yeaB Forthesdjd busiress, necessary rcsoh(ion is put to vote in thh AcNl,as statedin

the ltenr No. 3 ol rh. noti.e oi Annual Ccncral Meeti.E, thev ar eli8ible tor

appoiniment to conduct statuto.yiudk


ln thrs rcgard, thc Conrpary has re.eivcd a ccrliticatc liom the au(liloB to thc cfc.tthatiftheyarcapDoLntcdit\ouLdbclna.cordan.cvithtIcprovisLonsolScclioil,llol the Coirpanies

^ t, 2013 Au.tito,\ .onnnents oo your..mpany's a..ounts lor yerr

dndd Nlir.l 31, 2015 r r s!11 crplrnrt.ry id mhL,r trnd do not requne anyerpLtrmriDn ns pcr p, ovL!.ns.rs.cn.. 13,1 [3] (rl orthe con)f:nier

^.1,2013There followins qualLri.auon, rcsciaauo0 or advere rcin.rk or d6claimer mJde byStrtutory Auditor in rts r.Dort

1. Auounthts standard - 15 lor'Retirenent aenelits os the p.orision lororatuitt is not ba*d o actuariul valuation but on other rationale basis

white provisio" Ior other benelits st.h as Leove Encoshnenr hos not bunmode. rhe elJect olthe sante ca not be quantified, to the extentprclt lor the

teat an.l bolanc. oJ Plolit & Loss Account is overstated.

A, NTERNAL AUDIT &CONTROLS:

MADHIJR INDIJSRIES LIMITED

Your.ompany had lrd.loi!n set olstandrds, processes and sn'ucture whi.h enablesto implement i[e a] iiran.iiL .onko !.ross the organrzation dnd ehsure that dro

samr ar. adcquato aid operttinA eliecnvely.

Se.retaral Auditoro hJve qualified ihsi. rdport to dre Nlenrh.rs ol thc Comprny & rntIk .onne.tion; dre Boad olD]rectors of the Conrpany has discussed the same.t nrm'slength and agreed ro tJk.rhe corrective steps on toUowiDE Qualiiications

2,

rhe cotupdny isyettocomptywith claue47 (o) oILtsUng Agrem L

The Conpany is not in conpliance with Pursuont to section 203 l1l lii) of

9, SECRETARIAT AIIDITORSAND SECRETARIAL AUDIT REPORT:

PuNant to sectioD 2o,1olrhc Cofrparics A.t,2013, your.ohpany lrad appointed I4l!A. SHAH & ASSOCIATES, PrachsinB C.npany Secret.rjes, Ahnrcdlbrd, rs irsSe(et.ridlAu{lLtors to conduct the secrctaralArdit ofthe.ompany for F.Y.201415The Report oldrc Se.rctJraL Auditor lor the FY 2014-15 is anncrcd tot[is repofrrs'Annexurer III'to the Direto,s Ropod.

MADHUR INDUSRIES I-IMITET)

3. The conpan! is not in .ompliance with ctause 11 ( t) & 41 (vI) for tteFina.ialYear2011.1S.'rheCompanyis notin.ontpliancevith Clause 54 ol Listing Agreetueni

The co,npany is yet to conryty with ctause 41 (1) (h) with tugailt to Peer

6, The co,npany is let to conryly with the Section 138 ol the Componies A.t,

201i i,e, httcmat Auditorneeds tobe appointed toconduci the hnetuul audit

oI the fut.tions and activiti.s of the company.

7. The Compan! is also listed o Ahnedabad stock Exehange (AsE) but no

statubt! compltanee have bean done wtrh the Ahmedabad stock Exchanse

pu$uantt Lisrihq Agreement, Depositories Act and an! other cohplioh.easr.quirerlto be donewiththe sdid Stock Exchaige,

A. fhe Company is tot it .otnpliance with the Sertlon 197 & 198 of the

cotnpanies Act, 2013 with rcgards to tlE palnent oJ Manageridt

Remunetutio to the Dire.tots oI the con pan!,

9. The Conpary is not in eonptiance with Clause 49 oJ Lkting Agreement with

regards to rhe Contposition oI the Bood oI Dncaor.10.rhe Cotnpany is not in complioncewnh the Snction 1AO 4the ComponiesAct,

2013 with regtrds to 'Related Party Tmnsactions' as the suppofting

docuhents for the pa!,nent ol Rant to the Related Parties are not ptovided

by the Mon qg etne n t of th e contpa n!.

11,The CoDtpan! isnot in co,npliance with lhe Sectlon 135 of the Companies A.a

2013 with fegor.l. to th. LoansandAdvdnce granted to the Reloted Parties

se.etarLalAudjror Repoj't IMIt 3) rs selfexplan]t.ry and thcreforc do not cal rorany


lO,NOMINATION AND REMUNERATION POLICY:

The Soard lins on the rc.onnnendation of Nonrination and Remunerarjon /Co.rpcnstion Comnritt.e f.amed a poh.yon dire.tors' apporntnrent and rennmemtion

oI Dire ors jndud ng c.iterir L' LtetcrorinnrA quatii.arion, po$rne attnbures,

rndepenlence of dirr.tors and renruDcmtjoD for Drrectore, t(ey Manrgrriat Peronnel

andothe.cmployees -rheFohryisanDexcdtothn repofi as,Annexure: tV,.

lI,BOARD EVALUATION:

The Eortrl ol Djrectors has carried out an annurt evatuatioh of rts orvn pe omance,

Board.onnnrttees and ihd,vidual dire.toN pursuJnt to the provisions ofthe Coorpanies

Act, 2013 and the col]).nte goveDa.ce requir?olents as prcs.ribed by sccurities and

ExchanCe Board oflnrli. ( SEBl"l uh{lerClausc 49 olrho L$nn! Arreenrenr.

The pc ornan.e ofthc llo.rd was cvalujr.d by thc Board aftcr.scsk nB tnputs ir.om alt

the dire.toN on rhe basis olrhe.riteri: str.h as rhe Board composjtioh ahd structLrc,

ettedrveness ofb.rrd processes, jnlorhation and lun.tionins, dc Thc ncrtornr.nce oithe conrmittees \ias cvaluated by the board rfter seekinE inprts fron drc committee

nrnhe$ on tho hask .f thc criteria nr.h as rhe conrposition ol .ommiftees,

effc.tivcness.tLonnnitteeDreetin*..rc.

The aoard aDd the Nornination rhd RcmuneratioD Contuittee {,,NRc,l revrelvcd the

pefornance dr thc individtral dire.to.s on the basis ot thc criteria suct as the

.ortributio. ot the indLvldual di.o.tor to the Board and conmjttcc meetings lik.preprre{lnes on rhe rssues to bd djscu$ed, nreani.Erut and .onstnrctire .onuibutnand loputs in meetnrgr, er.. tn.ddjtjon, the Chatmran !vrs ak. eeaturted on the ke!

MADHUR INDUSRIES LIMITEI)

ln i srpirato nreenng of indeprndc.t Dir..tors, pe orn.nce of non rndependent

djre.tors, pefor'nance ofthe boa as a wholo and p.rfornrance olthe Chrtrhdn rds

evaluated taking irto i..otrnt thc vrelvs ot exe.urive dire.toB and non.drefuiv.

di.cctor. The s.me Lras drcussed in the board nrccting rhar foLlowed thc frccLing of

thc indcfendent DirectoN, at rvhich the perfonnance ofthe Board, its conrmittees and

individuaL dirc.tors \vas aho dlscussed.

12,FIXID DFPOSITS:

vour aompatry h.s Dot accepted any lxed deposits frotu the pubLi. r'ithin thc

provjsions of Sedior 73 to 76 !f dt Coolpanies A.t' 2013. HeD.r, rhe dk.lortros

require'lrpsRulell{51[v]&fviloldrccotrrpanies(A.coutslRules,20l4.eadwith

S.ction 73 to 76 ofthe Conrprnies A.t,2013 r.c not appli.ablo totourConrpatry.

I3.CORPORATE GOVERNANCE:

Thc Conrtany believes that good Corporate Co!ema..e is j.ontinrous pro.dss rnd it is

endoavor to r.hievc Houd governan.e, by way ol a.ons.ious and

cons.ienr otrs effort Lrhereby enrtrilg $e n.uth, n.anspa.ency, a.countability and

responsibiliryinall ourdedLnaswrthaLl ourstakeholdcrj

A sepai:te sccfon on Coryoratc covcrnance srJnda.ds follolvcd by your Conrrany, as

(ipulatcd under Cliusr 49 ot rhe Lisrin8 A8reement is encLosed !s Anherure to th s

ReportThcneportonCo+orateCovernance.ko.ontalns..itJlndis.lonLres.cquired

rnderCoq)aniesAct, 2013

A Certrficate i.on M./s. v. s. MANWANI & Co. Ctrarrerdd Accountants, (rlembership

No: 162129) Ah.rcdrbad, conior0rine comphan.e to the .oiditions df Cdrpdratc

cdr.rnah.e !s snpulatcd under ClJuse.l9 or thc Lkti€ &reement, is rnnered to $is


14. YLc tr UleEANtll!

ln pursuant to the provisroos orse.tion 177 {9) &ViBil Me.hanism for dr?ctors and emphy.es to

{10) oithe CohPrnles Act,2013, a

report gcnuine .oncems h3s been

1s. ENIIGYEIEqINqLQGYi

(al co.scNanon of enersv:

rhc{cp,L[rnur'mpadnr.on\ervJn,n.l

lhe steDs takon by tbe conrnanv for utilizjngaltci,rate sotrr.es ot encrEy

t,l thc GpitJl invesment on enersyconse,!ation

(bl TedmoloRyabso'pii.D

1 theeft! ri 'nJdet.rtrds te!hnoloErr

ab\o nlon(iil the hencnt! de.ived like p.oduct Ltotrovement,

cost reduction, produ.t dcvolopinent or inPort

{iirl ir cNe olinrportcd tc.hn.loey (irnportedduri.g dre lastthree yeJts re.koned nonr thebeginning of the liprnciaL yearl.

tdl n cdtLil,otiedrnology nporled

i.l \'hotIo tl]e technolosy bccn lully absorbed

(dl irndt n'llJ, absorbcd,.rers wh.reahsoiDtionhrs nor trker pl!cc,and rhe.etrsons

tnl the expenditure in.urred on Resefichand

The cffort! a.c being mrdeFuther,thecornplrydid noi

lbr .neBy c.nsewariotr to nerv and innovative meanshave rny irnpo,tcd t.chnoLogy duing rre Itran.lrLycar

MADHUR INDUSRIES LIMITET)

16- FOREICN EXCHANCE EARNINCS / olITCOl

'lhe Company Las earned thc Foreign Exchaned by the r.y olExport Sal.s to $e nfieolRs. 6,44,65,253/, durng thc ti.aDciat ye)' 201,1.1S

lT.PARTICULARS OF CONTRACTS OR ARRTINGEMENTS WITH RILATED PARTIES:

Al related talty t.ansr.rions those \vere .ntered durihg the finan.iat ye Ncre jn

o.dinary cousE ofthc busihess ot the.ompany lnd $cre on arn s lengrh basis. Tbere

rvere D. matenally sjEnifiGnt rel.ted pal1y trrnsactjons ente..d by the Company lvjrh

Itonrotcrs, Dire.to,i Key Nlanrge.al P.xonnet or other pe$oDs whi.r mry havc a

potef tral conrli.t with tho interd( of the conlprnt

ALI sudr Related P..ty Transr.nons are placed betore the Audit Connnrttee lor

The particria$ ot every conra.t or arrangerneD6 eitered iDro Ly the Cohrpany \rithrel.ted parues rcrlrred to the sub secnon [1) or sectron 1sB of thc C.,npriLes Acr2013, a.c disclosed ji Form No. A0C.2 Annexure: V, the snme fo.nr pa.r of this

report, purstrrnt to se.tion 134 (3) (|l ol thc Act read with rure 8[2] of the conpanies(AccouDtsl Rulcs,2014.

13, PAR'IICULAAS OF LOANS, GUARANTEES OR INVESTI\,IENTS UNDER SECTION IA6:

In tenhs ofprovisi.ns ofSe.tion 134 (31 td oftlE Conpanies Aci 2013, rhe p.rticulaN

ol Lorn., Cu.rant.os or t.vesnrents under Se.tion 186 is ann.xed h.rer. trs

'Annerure: vl' !nd ioDs farr otthisRepoft.


19.PARf ICUI,ARS OF E[IPLOYgES REMUNERATION:

A. The ratio of the .stou.e.rtiod ot each di.e.tor to the nredian empLoyees

rcmtrner.tion rnd other details in ternrs of mb sesion 12 oi S.ction 197 of the

C.mranes Act,2013 r?ad xith Rule s 0l ofthe cotoplnies lAppoiftnent and

Rernunemhon olNlanagerialPeBonncll Rules,2014, a.e lonnlne partofthis report

Js"Annexu.eVll"

B lhe statement coDtarnrns paticulars of cnrdoyees as rcqujrcd under section

l97i12l of the Conprnies A.t, 2013 rerd Lfith Rul. 5 {2) of nte Conrpanles

(Appointment !nd RentrDemtion of Matraserirl PeNonnell Rules, 201a is not

pr.vjdcd as no enployees is piid reilurerJtion ol Rs. 5 Lar Per Mon$ and Rs.60

Yorr Comprny tents its 'hunrtrn ,erour.e{ Js .n! of iis nDst \i8nlfi.ant assets The

ConrFny.onhnues its rocus on rctention th'ough enployee engagenrent,nitiati!cs rnd

provides a holistic cnvirunnlent rvhere cmDloyees get opportuni.cs to.ealize then'

potential. A number ot progmnx that proeide to.used people attentron are drrrentLy

urdenvay. Your Comprny th'ust is on the promotioD oitalent intenally throu8h job

rotJuon and job enlarsement. Thc conrpanys Health and saloty Polrcy coinnlits to

p.ovidc a healthy and sate $orkenvi.onmentto aU emplotees.

21,CHANCE IN NATU RE OF THE BUSINESS:

There has bee. no .han8r jn rh. hatrLr ol busiie$ of the compaDy dDrnE tho yesr

As p.r Clauss,l9 ol Lis!ing agreehenr rdLth the 5to.k Exchanges, a scpa.ate section on

Nianagcment DlscussjoD rnd Anrlysh outliring the bnriness.fthe Compary N sct out

iD Ann.xure fornrinB Drrt oathis Report.

23, SICNIFICANT OR MATERIAL ORD ERS ACAIXST COMPANY:

\o. "nrt. nl rn.l ro .r'l o"da. uee p,. ^.i b) r,-'i 9.. ror ortor . o''. L'nJ-

impa.rjngth. going .on..r n 5tatus and aomprny's operatjon in future

24, STATEMENT OF DI RECTORS' RESPONSI BI LITY:

Prtrrant to rcqujrchcnt under 134 [3] (!l ofthe conrpanres Act,2013 (Ac0, Uirc.tors,

(al ir thc prctaratLor oi the !nnuaL ..cou 1ts f!r dre yeir ended on 31.,Nlar.h, 2015,

the 3pplicJble Jccounnns stundr s reld NLth rcqurcincnt set out rnder Schedule

Ill to dre Act, h.!e been folLowed ird there rre no rnaterial depa lres lrom the

[b]the Dtredo$ have $lcctcd such a..ounting poli.ies ard applLcd them c!ntstenllyand Drade iudgme.ts and e(nrrtes that arc reasonrbLe atrd p.udent so rs to give a

true and fair vi.r ofth! statc (raffJi. ofth!.onrpany as Jt M:r.h 31,2015 and ofthe profi t of the Lomprny for thcycar en,led or thatdatc;

[.] the Di.edoE havc taken proper and suiticient care lor rhe Daintenance ofadequatcac.ouDrlnB rc.ords nr i..o,na'rcc \!ith tbe trovisjons olthe Act ior safc8uardrnE thcasscts oI the.oinprny and tor p,tveotins and detecuns fraud and othcr

(dJ th. Dnccto6 |ad prepared the annual accounts on a Boine conce.n b!sis:

'I



(e)th. Di.edors hrd laid down inte'nat finan.irt conn.ots ro be fo[o!,ed hy the.unrpJov and that strch intenaL nnanrirt conim s ,r. adequate and are operaing

(l The Dire.to's had devkcd propcr sysrems to ensure comptran.e !virI the provisionsotallrpplicable laws and that su.h systems a.e adequate and opcratiog ele.tively

25,ACXNOWLEDGEMENT:

Y' L,'.e.'or.Lvr 'r, ftr 01'c,o i.."rd ,h.o JlJ rn, 1, ipp,ir { ro.t.rss(taDce Jnd co-operaijon receive.tf'o'n dre fiDaiciat irsudtrions, banks, CovemnrEnt

autho.itles, crstouers, vendd.s 3nd nembc$ duriDg th!yea. under rcview.

Your Dird.t,s rLould Like to exprsss a profouo{t se.se .f lpDreciatioD tor thc.omnritment shorin by thd corptoyees iD suppo(ihg rhe Company in its coDtjtrLdd

'obust oerhrmaDce on allnrnh

DATE:14l03/2015

ON BEHALF OFTHE BOARO OF DIRECTORS,

FOR, MADHUR INDUSTRI ES I,IMITFI)

]\,ANACINC DIRECTOAIDrNi00494S21)

DP'I ARATIOXIIIIDEPENDENCE

MADHURINDUSTRIES LIMITED

Subiect Declnr.tion ofindadend€nce under.lause 49 ol tie Listins Aere€ment andsub.s€ction (61ofie.tiop r49 nrthe cnmpanics Act.2013-

l,l!RNARENDRACHAVDA,hereby.ertifythatla.raNonExecutivelndependenttlrrectoroi MADHUR INDUSTRIES LIMITED, resident of C A39, SHRMAN PAR(, SOCNOBALNCR,KUBEANCR, AHMEDABAD 3a0001 and conul, with all the .riteria of ihdependentdre.toras envisaged in CLause 49 ofrhe Lisring Agrecnrent and the CompanLes Act,2013

I possess relevant cxpeitise rod experien.e to be rn indepe.dent d[ector in the

I anvwas trot a promoter of the comprny or its holdin8, subsidirry or asso.jate

lanr rot related to promotcr / dirc.tors / pe60ns o.cupyins nranagenrent position.tthe board lcvel or leveL belorv tl,c board nr the comprnr, its holding, srbsi{liary or

Apart hoD receivins drrector slfthg fo.s / retouneBtion, lh:v./ha{l oo pe(nia+relJtionship / t3nsactions \iith the company, its prcn!ters, its drcctors, rts seniormanagcment or rts holdlrg, srbsidiJry or ass.crate conrpany, or their promoters ordre.tors drdDe dr. svo jhrtoedrately pre.ednrg fi.an.ial yenrs or durjng thd .trrrent

none ol ny relativer li.s or h.d any pe.rniary relrtionshiF or hnsa.tion with the.onpanI, its holdlng, subsidir.y or asso.iare.ohpany, orthen.promoter, or directoN,rnountinS to 20l. or more ofits 8.oss tu.nover or total income or Rs. 50 Lr.s or su.hh,Bhor anrount .s nry bc pfus.r bed, irhr.hevef rs lolve., durinE the t1vo innncdiateLyDre.ed nA fi naDcial vcaN or duirns tho cude.t hrancial veai

MADHIIR INDIISRIES I,IMITET)


. NcLthernre nor rny of.U relntivds:

al hoLds or lrns hdld the pusitioh !fa ket h3nage.altre.sonneldr h or has beenemployee/cxc.rtive or the conlfany or its h!ldtrrg, subsrdirry or aso.iatcconrpany in.ny ofthethree finJncirLyears i,nnrcdistcly p.e.eding the fihJn.ial

h) k o. has been rn empbyee or pn,prietor or a partner, in any ot the threelinan.jaLyoarsrfr 6edi.telypreccdrngthcfi.ancialyetrroij

cl a firm ol auditors or .ompany se.retarics rn practice or cost auditox .t thccompany orits holdinE, subsidiary orassociJte companyior

dl rny leEal ora consultine firm that has orhdd anytransadion \vith thecoinpaiy,its hoLding strbsidia.y.r 3ssociatc ronrpany amountinS to 10rlo or nrore ofthegm\s trnloverol su.h hrnr;

el holds toeether with Dry relxti!es 20l0 or nnne ofthe total votinB polver orthe

0 is a Chicl Erecutive or dLrector, br whatever nrne callcd, ol any nonprofitdrgrhizatbn that re.eives 25rlo orNore of its re.eipts lioDr dre company, rny oli6 !rohoters, drrcctors or its lroLding, subsldiJl .r )sso.iata .omprry or thathoids 2% or more olthc totalvotiire pow$oithe conpdnyror

'lamnotanraterialsupplicr,s$vi.eImvidoror.ustonreror.lessororlesseeolthe

. lam not ess than 21yeffs ola8e.

D€claration

I undedJke thai I shall seek prior approval ol dre Board it ard wh.n I have an, su.h

r.lauonship / tmnsactions, wherher haterirl or non material. rlt trilro do so l shallcease

to be an Ddependent dnector nom the date oi entering in to su.h reiations[ip /


i-itrhcr I do rereby d..trre rnd coDt|Dr thrt the rbove sr.l iDtormation,j arc true and.o,.e.t ro dre bcst ot my kn.\ytedce as on the dare ofrhjs de.taration oI indepehdcn.e 3ndI shall take

'esponsibiliry Ior its corrcctncs !nd shall be hablc ror ino ifany ihposed ontheConrpaDy, itsdi.ectots,rf rhesaD.fotrndw.ongorin.or.ectio tuxrre.

I aurthcr uDdertake tu irrirnatc imDedjatety uFon.hanges, iitrn, to lhe Cohpany for

MR, NARENDRA CHAVDAC 339, SHR]\']AN PARK

SOCNOBALNCR, KUBERNCR

{DINr 02377055)

DITLARATION OF INDEPENDENCE

MADHUR I NDUSTRIES LIMITEDMADHAVPI]RA MAR(FT

Subiect, Declaration oJ independen.e und.rrlause 49 of dre Listi.! Aa.eenent.ndsub section 16l ofsection 149 ofth€ComnaniesAct.2013,

MR VIT-IALA Sll ETTY, h.r.by.ertilythat I am a Non Executlv.lndependert Drre.to.ofMADHIIR INDUSTRIES LIMITED. residcnt of A 104. BLUEBELI, aO.OP. HSC SoC, EKSAR

RD, soRlvALl\\r, MUMBAI . 400092 !Dd compLy with all the critc.iJ or indepcrdent

dircctor as cnvEaEcd rn Clause49 ofthe ListingAgroomcnt and the Compani.sA.t,2013.

relevitrt expertise and crpcrien.e to bd rn irdepcndent dir.ctor i0 the

ol rhe .onrDaDv or its holdlns nLbsjdi.ry or rssoclte

lam not related to pronroters / dlrccto.s / penons oc.upyinE management positionatd1e board level or level below the boa in the company, jB hokliirE, suhsidirrt or

Aprrt Jroir rc.civirrE djre.tor sirtnrs tees / rcmuncratnm, I havc/had no pcfttrriaryrelationship / tmnsactions wlth the conpa.y, its pronroters, its dirccrors, its seni.rmanaSement or its hol.lng, subidify or assoctate company, or their lromdtere, ordirc.tore, dudDe the svo immediately preccdinB financial ycars or during the cur.en!

none ol nry re atrres has or had ary pe.uDirry .dlrtiohshjp o. transa.tro0 trlh the.onrpaDy,icIo]drns,srbsidrar'_vorasso.i!rcconp!ny,orthcirptumote$,ordrcctors,aDroutrtnrg b 2% or mord ol its Sross tumovcror total incoDe or Rs.50 La.s or sudrhighcr a,noLnt as mry be pres.ribed, r,hichever is lower, durihg ihe two innnediateLyprcccdiDEfin.ncialyear ordtrrngthecurrent tinancialyear



. Ncithorhenor rny olmy relatives:

al holds or has he d the position oI: key hlnasenalpeNonnelor is or has becnenpLoyee/exc.utjvc 01 the comp,ny or its hodnrg, subsidiary or associatccomp.ny jn Jny ofthc th,cc frrrancLalyerrs innnedjat.ly pr..eding rhc llDaD.ial

bl ls or has betn r. eorployee or propictor or a partner, in uny of the threefinancialycars Lm0rediatclyprecedinEthefi nancialyea.oll

.l a iran of arditors or .ompany ie..ct3.res ir pra.ticc o. .osr auditors .f ard.onip:ny or rts holdrnE, subsidiary orassociatc conpary; or

dl any legrlo' a.otrsultinsnrm drathtrs orhrd any transaction rvtth tire co.iDany,its holdirlg, subsidiary or asso.i:rc.ompany amotrntiDg to 10% or more oidreBross turnover olnL.h firhl

c) hoLds toeethc. \rj!h mrr reLahrcs 2% or hort orthe total votins polver olthe

! 6 a chiet Exe.utive o. dircdor, by wharever nanie callcd, ol any no.p.otiroBrization thitrc.eivcs 25% ormord ofits receipts ironr the.ompant,atry ofjts promoters, directors.r irs holding, strbsidiary or.ssociate .ompany or thatholds 2% orno.e ofthe total votine powfiofthe conpany, or

.Iannotanl3tc.ialsupplie|is.rviceprovLderorcrstomerorilessor.rless.cotdrc

. lam not lcss thrn 2l yorrs ofaEe.

Declaration

I underJke nilt I shall scok prior lpprolal of the Road ii and when I hrve any sLch

rolationshrp / transa.rions, $hether mar.rialor non matcriat. trr rJitto do so I shal cease

io bc an independcnt dircctor i.om the date oI enterng in ro such reLdnonshjp /


Frither, I do h..eby declare and .onfimr drat dre above sanl rfornranons aie true an{l

corre.t to the bcs ol n1y kiowledEe as o. thc date ofrhis de.lJ.ation olinddpen{len.e and

I shaLl t.ko responsibrhty lo. its cor.e.bress ind shall be liabLe for nne ilany imposed ou

the Company,lts dire.toB, ifthosanre found rvrong orincorrectin furure

I further undertake to intimate rmniediately up.n .hanges if.ny, ro the ConpaDy a.r

!41

MR,VITTALA SHETTYA 10,I, BLIJEBELLCO.OP IISC SO'

EI6AR RD BOR]VAIIWMUTIBAI.4()(l(l92(DlN:0233073s)

MADHIIR INDTJSRIES LIMITED

FOR]\4 NO, MGT 9

EXTRACT OF ANNUAL RETURN

As on rin.ncial Y.ar ended oi 31 /03 /2075

lPu.suant to section 92 (3) oJ the contpanies Aea 2013 and Rule 12 (1) oltheconpuay(tM on agenent & A d,tittistrotion ) Ru le s, 2 0 1 4l

I CtN 151909C11973P1C002252

3 Nane ol the Comprny MADHUR IN DTISTRIES LIMITED

4

A,

v

i"i,ci.I;;;f il

c

l.

crteEory Company hnited bysha, es

Sub.Gtegory:lndianNon.C.vernmentConrpany

REGISTERED OFFICE: MADHAVp URA l\IAR(ET,

CORPOR-ATE & ADMINISTMTION OFFICE:NIADIIIJRCO]\4FI,EX STADIUMCROSSROADNAVRANCPURA,AHMEDABAD 33OO09

cont.ctNo,: 079 26563361

Mail ID: inl.adroudhu' nrdtr$ricslrnnted.com6 Wh.thcrlnt.dco'npany

7 Name,Addres &contactdetarls ofthe Regjstrar &TDnderACeDr, iiJtry.

UNIT NO 3O3, 3 T! FLOOR,SHOPPERS PLATA OPP, MI' N ICI PAL MARKET,BEHIND SHOPPERS PI,AZA II,

Contrct No.:079 - 2646 5179

M/S, LINR INTIMI INDIA PVT-LTD,


I. PRINCIPAL BUSINESS ACTIVITIES.ontrib(tinE 10 % ornore ofthe t.tal

OF THE €OMPANY: (AlL the business adLvitiesturnoveroithe conrDanyshaLl be stated)

Namc and ijes. pt un uf ,o io totJltu' n!\cr,,fthcLurn Prodr s/,c^.es

II SHARE HOLDINC PATTERN [Equity Sharc Capital

A) CateAory wise Share HoldinBl

Breakup as Dercentaae ofTotal


MADHUR INDTISRIES I,IMITED

"roqs

-.rnii";


Bl Sha.eholdinE of Promoteri

"shrr.hoLd,ns at the bedin,lnt

ot thr y.rr [ason APril li2014 i.e. onthe basisofsHP

Sharehol.lLngrttheend oltheycar(asotrMarch31,201st.e.onthehasirolsHPof

100924


cl chanEe in Promoters' shareholdtns (Dle.se specifi ilthere is no.h.nsel:

NoTE| Th€r€ is No chang€' in the sh.reholdin8 of the Promot€rs or Promoters'GrouD during the currentfinancial y€ar.

D) Shareholding Pattern of top t€n Sharehold€rs (Other tha. Directors, Pror.ot€rs andHolders orcDRs and ADRsI:

t.-No.


rrlr/r0ii AttrearddI e

r/4/1014 Atrhebeshnins_ oldre)rar

lutrd' l!De, ltr,..rsc duc to


El Sh.reholding of Dire.tors.nd Xoy Mrnagerial Personnel:

..1

NIR,VINIT

, ., l!!l -

l1/l/201q Ar rhe eid ^rrhe


MADHIJR INDUSRIES LIMITED

Fl INDEBTEDNESS: In.rebtednoss ofthe ComP3ny in.lu{iing interest outstaDdinE / accrued

b(r notdue forpaynent

Indebtedness.ttho b.ginnine of the fi nancial year:

2,91,133 29,t)5,1J4

Torar(i+ii+iiD 2,91,134 29,O5,234 33,66,515

ch.ng€ i. lndebtedness du.ing the finan.ial year:

(30r3ql (s3,3301 (r,70,0931 0.0.l62l

[30,389) 11,01,240 (1,70,093) a,50,r58

h,dehr.dn.s$t the end otthe 6nanci.l vear:

42,17,273

11,60,120


IX. REMUNER,1TION OF DIRECTORS AND KEYMANAGERIAL PERSONNEf,:

A. Remuneration b ManaEiDg Diredor,Wtoleriine Dire.ro( and / or Marage.:

SN, N.me or MD/wTD/ Ivlanaqer

MR VINtT

(1\rDl

MR, SIIALIN

IDIRECTOR)t-i,t',1, ) ".p..r,,*,,. tk,,uooot l.ontJ nDd nse.lr.n t-{ltotthe ln.n e tJv A!t,1961

ltbl vatre;ip;rqu;ies uA| ^L-17[2] ltr.ome tayA.t, r961

l^"rdnytun17(rlr!ure

rr

!!!!jr!r}]!!!€j!!qfL N.A

is. 12,OOOooItA)

Rs,7r,229/-

The above sbtcd remunennonlimiba5 set otrt in rre Schodute

paid to Mr. Sh.liD Pa.ikh & Mr. vinrt Pa.rkh, k subie.ttoV olthe coDpanies A.t,20r3.

MADHTIR INDTJSRIES LIMITED

A, R[MUNERATION TO OTHER DIRECTORS:

1. lndependentDirectors:

4 TOTAL tB1]

2. oth€r Non-Executive Dirc.tors:

3

'5 TOTAL [82)ToTAL B = a(1) + B(zJTOTAL MANAGERIAI- REMII NERATION

OVERA LL CEI LINC AS PER ACT 1,123/-

MADHI]R INDTJSRIES LIMITED

C, REI\,IUNEMTION TO KEY MANACERIAL PERSONNEL OTHER THAN MANAGING

DIRECTOR / ITIANACER /WHOLE TIME DIRECTORI

Prrticularr ol Remnncr:tion Key Mrnagerial Personn€l

(.1saltrry!s perprovisions cont in.d nrsection l7[1) olthc Incohci,\ At,

(b) v:lne orp€rquisites uA 17{2)

(cl Pronrs in Ueu orsalary un.rcrse.tion17(31 Inconcrd ad, le6l


\ll. PH\ 4L fl fS / PUNtsHME\lTl COMpOUNDTNC OF OFFEN(ES:

lA;ihoitylIRD /

Giv.NCLT/

COURT]

Pcnrrry IPu.r.h-"ri

-

B, OIRECTORS:t__l

C, OTHER OFFICERS IN DF,FAIII,T:

DATEr 14l08/201s

ON BEHAI-FOF THE BOARD OF DIRECTORS,

FOR, MAD HUR INDUSTRIES LI MITED

MANAGINC DIRECTOR(DlNr 00494s21)

t\4R-3

SECRETARIALAUDIT R[PORT

[Pu5uantto s{tian 201(1) af the conpdnies A.t,201j und Rule 9 oltheConponies(Appot ntn ent o nd Rentun ercti on P ers.h ne t) R u tes, 2 a 1 4 l

We have exahhe{l dre hoo6, pipeE, minute b.oks tu.ms and retums fi ed and other

ocD ds nrarntarned by M/S. MADHUR INDUSTRIES LIIIITED forthe nnrno.lvear ende{l

df 31! NJAnCll,2015 r.co ingtodr.!rovkionsot

FORTHE FINANCIALYEAR ENDED ASON 319 MARCH,2015

MAD!UR I N DUSTRIES LIMITED

$I. have conducted thc Se.retarirl Audit ot thc complLance of applicable statutory

provkions Jnd thc adheren.e tocood.oryomte pEcrices by tvlls, MADHUR INDUSTRTES

I-IMITED(H.rcinalter.dllertthcconrpany).secrerJrialAuditxascoDdu.t!dinanranncr

thnt provided us a reasonable brsis for evaluating the corporate conducts/ sraruto.y

.ompiiances and exFresinE orropi.ion thereoD.

Bascd on ou. verificrtion ol thc M/S. ]IIADHUR |NDUSTRTES LtMTTED {books, p.pers,

nrLnure books,lo.nrs and retr|ns tjLed xnd other re.ods ,n3Lnt3incd by th..dmpany aod

rho the information F.ovided by the Company, its olli.c[, agents and atrdrorized

representatives durin8 thc conduct ol se.retairal audit, we hereby repofi that in my

oprnior, the company hJs, .lu.ing the audit perlod covelinE ihe finan.irl year ended on

31\r MAnCll, 2015 .oupIed 1rtrh the siatutory !rovErons isted hereunder and also that

dre Conrpatry his proper Boa.d Iro.esses and .ohpLiiocc-mcchanisor rn pLale to the

extent, in the manner and subiect to the reDortins made hereinilre.:

MADHT]R INDT]SRIES LIMITED


IL] ThecompanicsA,t, 2013 [theAct] andtherulcsmadethercundcri

(iil The se.o.ni15 Conlra.t5 {Rcsuhtionl A.t, 1956 (SCRA'l r.d rhe rules made

[rir]ThcDcpositoriesAct,l996anrltheReBuLruonsnndBye'ltrwslramedthercundcrl

Iit] The Foreign Ex.hrtrgc M!n!genrent Act, 1999 and tbe rules and.egulrtn,ns orade

thereunder to the extent oi For.ign Djre.t IDvcsthent, 0vetseas ULrect lnvostment and

ExtenrrL C0rnnrercial Boro\rirgsi

lvlTl'e rollo$ingRcBnLin,os 3nd Cuidelinespresc.ibed under. the se.uriiies and Exchanse

Bo3rd ot lndi! Act,1992 ( SEBI Act'):

(al Thc secuities afd Ex.hrngd Boid orlndir [substartialAcqui!itn orsh]res ahd

Takeo!eml Rogulatjo.s, 20111

(b) The se.urities Jn.l Ex.hanae Board or lndra (P.ohibinon oI lnsider T.ading)

G) Th. sc.urities and nxchanse Eoard of lndia lssue of Crpital and Disclosu.c

Requirdineotsl R.suLations, 2009;

(dl The se.drities rnd Erchanse Board or IndLa lEmployee Stock Optron Scheme and

Enrploye. Sto.k PurchAc Schemel CuideLincs, r999:(cl TIe secnrities nhd Ex.htrnss Boa'{] or lndia 0ssuc and Li{ins or Ddbt se.urjtiesl

[0 Thc se.r.itics and Ex.hrnge BoJrd of IndiJ lRegisttrB to rn k$r. aDd share

TrJhsrcr 4entsl Rcsulations, 1993 resardios the Companres Act and dealin8 with

[g] Thc se.unties and Fxchanse Board ollrrdia (Delistirg olEqLnty snare, Resulatiors,

[h] The se.rities ind Exch!trse Board or lrdia (Buyback ol se.ratie, ReEulations,

{vll Othcr specificaUyapDLicablelawstorhecompanyl

Altbe FadoriesAct, 1943

tsl The Payment of wJcds A.t, 1936


clTheMin nunwasesAct, 1943

DlTheEilployeestrovidentFnndsaDdMncellaneousProrisionsAct, 1952

E)ThoEmpLoyecs SLtelnsunn.eA.t 1943

Fl Thc Food Salety trnd stand..ds Act 2006

c) The Trademdrks Act 19e9

Wehavealsoex.mnred.onrpLjancesiththeapplrcableclausesofthefollowLng:

I Se.rctaaalstardirds lssued b.v Th.lDstitutc ofc.nrDany secret es oi lndia - Ndt

exahiDedasSe.retrrjilStandardslLc.cnotappllcablcinfinancialyefi20l4'15.

IL The Listine Agreeinents entered into hy the Conipany $ith BSE Lnnited Sto.k

DrrnrB the period unde, ,evielr ths C.mpahy h$.ohplied sith the provisLons of

the Act, Rtrles, ReEulations, Cuidelires, Standards, etc. niertionrd rbove subje.t to

the followirrs obse.vations:

1. Ihe compant is yet to ompty with clause 17 (a) ol Listing Agreement.

2, Ihe Co poty is not in conplianc? with Purstant to Section 203 (1) (ii) ol

Compant s Aca 2013.

3, The Con pon! is not in .o'npliance with clause 11 (1 ) & 41 (w) lor the

Finoncial Yedr 2014. 1 S.

4. The cotnpanJ is not it conelianee with Clause 54 ofLtsting AgreenenL

5, The contpont i5 let to cohpl! ||ith ctouse 41 {1) (h) with resurds to Peer

6. The con9xny is yet to .ompl! with the Section 134 ol the Cohponies Aca

2013 i,e, Internal Au.litor needs to be appoitrted lo crnduct the iltemol

audit ofthe lttctions and activities ofthe Cotnpan!.


Matority deckion rvas c!rric{l thrdrgh while the dissenting meinh.rs' vie\E arc crptured

!Dd rc.o ednspa olthe nrinutcs

7, The cotupany is also listed on Ah,nedabatl stock Exchange IASE) hut no

statutaty eo pliance hove b.en.lo"e ||ith the Ahm..labad stock E thange

pu5uant to Ltsring Agreet ena Depositories Act and on! othet .ohplionce

as require.l to be .lone vith the sdid Sto.k Erhange

a. The ComFon! is not in @hplionce with the sectlon 197 & 19A ol the

companies Act,2013 with regurds to the poyntent ol Manageriat

Rehunefltion to the Dircctors ol rhe conpanr-

9- The Con9any is not in compliance with Clause 19 ol Listlng Agreement with

rcsar.ls to the cotnpos ion oJ the Board ol Difectorc,

lO. rhe compant is notin conptiance with the section 1a3 olthe companies aea

2013 with regards to Relat d Parg Tranections' as the supporting

docu'nents lor the parmear olR.nt to the Retated Poft1es are not provided

tty the lqonogenent ol the companr,

11.The Compdny is not in conpliancewth the Seclion fis olthe Conpanies Act,

2013 with tesads the Loons and Advance granted to the Retated Parties of

the Compdny,

We further report that The Boa.d oi lrim.tors ol dre Conrpany is ,o. constituted wrrh

properbaLarceol Exe(tivc Dire.tots, Notr'Executive 0ire.tors and lndepcndent Directors.

The.hingcsirr theconrposition ofrre Board oiDirectox thattook Pl.r.. duringthe p. od

under revi.\vwere carried out Ln.omphan.e with the provhions of the Act

Ad.qurte noti.e !vrs givcn to.lldiiectors to (h.duLc the Board Mccti.ss, rgenda and

deiail.d ndtes on agenda wcrc scntat leastsevch days in advan.e, and a systeh exists lor

sceki0gandobtriningfurtherlntonnatioDandclanficationsonthcageDdriternsbcf.rethenreetingand fo. oredningful pJrti.ipation rt the ineeting.

MADHT'R INDUSRIES LIMITED

We rurth€r report $rt rhere lre adequlre systems and processes in the conrpany

.omnrensurale \4th the siz. and ope,3tions of the company to mon tor and ensure

.onplLanceLrithaptlicab el.r\s rules,regul.tjonsandauideLiDes

We furth€r r€port that {lu.ing the audit perod the company drorc has bccn no material(l(crtpancy ln the brsirless J.d no specificchanse in $c nature ofthe Busjness.

DATE: 14104/2015

FOR, A, SHAH & ASSOCIATES

MR.ANISHSHAH

Note: This report is to be reod wnh our terter ol even date whi.h is annexed as"ANNEXUREA andlolnsan intesrol partifthis report.

MADHUR INDUSTRI ES LI M ITID

0ur Repofiofeven date is to bc rcad rvith dris lettq:

1 [.{ajDten.n.e of Secret! ol re.ord Ls the responsib]ljty ol the mana8ement of theCompany OtrrrcsponsihItvjstoerpress!ropLniononthesese.reta.i!

'e.ordsbascd

2 U,c havc lollorved the.rdit prr.ti.es rnd pro.esses as $ere rpprcpriate to ohtaitrpasonlblo assurance about the.orre.tness ot the.ontents ofdre secretarial records.lhe verification was donc to tcsr basis to etrsure,1at correct hcts are relleded insecretnrirlre.ords. We belicvc that thc p'o.esses and practi.es, we followed provide,ilasonrble basis for our opinron.

:l lve have not veriffed dre con'..tncss and app.oprjateDu$ of linancial rc.ords andRooks olAc.oonts ofthe ConrFrny

,1 W[ercvcr ..quncd, \ve hrve obtaned the Nhnasenent Represenulion ab.ut dre.ompliso.o ofla\vs, r ules and.eEulations and happenirgofevents etc

:. The compliance of the provisions .J Corporate rnd other applicable laws, .ules,regulations, simduds is $e rcsponsibility oi nranagemeDt. 0u exainjnltjon waslimitcd to the verjfi.atjo. ofpro.ednres on test brsis.

6. The Secretarirl Ardit rcport is n.itlr.r an assn?n.e as to drc luture viability ol the.ompanyrorofth.efficacyorctJcctivencss!vith\rhichthenranagcrnenthls.ondu.tedthcaffairsoltheconipany

DATE:14l08/20r5

FOR, A, SHAH & ASSOCIATES

PRACTISINC COMPANY SECRETARIES

MR,ANISHSHAH

MADHTJR INDT]SRIES LIMITED

NOMINATION AND R[MUNERATION POUCY

INTRODUCTION:

ln pursurn.e ofthe CotuPrny's policy to.onsider l,uman res.ur.es 3s its i.vahrable assea,topaycquitahlc r.mun.ht on to.ll Diredo6, key rnaragcrlaL porsonnel and enrployees otthcconrp.ny, toharmonizedre:sptratroos ofhuman resou.ces conshtent with thcgoaLs ofthe.ompany and nr te s of thc pfl)vrsn[s oithe CoNp]njes A.t, 2013 and the ListingAgreemdnt lvith thc stock exchan8es (As rnrended ri.m trmc to tnncl, this poli.y ontrotrrjnaiion.id rernuneration of DirectoN, l(cy Nlanrge.ial Pe,sonnel (l([4P] and 5e.iorMrnaRc'ncrt has been lonntrlared ly thc Nomjnltion and Rehunerurion ComDrittcc['NRc') and app] oved by the Board orDire.totr orthe Co.rpany

CONSTITUTION OF COMM ITTEE:

The Board olDrectors olthe c0nrptrf! (tlrc Boardl coistinLte theconnnirtectob.kDownas the Nonrination aDd Remtrnerrtion committe. consBtirg oi three doh..re.urivedirccrotr out olwhich not less than oDe [alfare Lndopendent di.ector. Tl]e chanrnan ofthe c.mmittee is an lndependent Dirc.tor How.!er, the chairperson olthe.ompaDy(lvhether cxe.rtive or nonexe.utlvel ,nry bd appointed as a menrbcr orihe NominationaDd ReDNr.rationconinittee butsh.ll notchrirsu connnitrcc.

The Nomination and Renrunerarjotr coLnmittee and rhis lollcy shaLl bc hr compliance lvithSe.tion 173 ofthc Compnnies A.t, 2013 rexd along lvith the appli.nble rrles thercto andclau*,19 rnder drs ListLng ACreehent and Guidehnes ol Reserve Bark oi hrdia. Theobiechveofthis policy is to hy dolu a lramework in rclation to remrneEtion oldirectors,KMP scnior nranrgen.nt pe'$nnel lnd othe. cDployees Thc Kcy objeltiles ol the

1.1. To SdLde the Botr m relation to appoiDtment rnd.sfr.vil .l Djre.tors, KcyMtrhJr.rialPeEonnel.ndSenio.MaMAemeDrI2 Fonnuldte the .ntcria to. determinirg qurliticaiions, po5it,v. atributes andrndependence ol a dirc.tor lnd .e.ototrend to the aoard a poh.y rcanng to iheremunerationof Di.ecto.s keymanaCerialpersonnelandotheremployees.13 Forniulation ol.rj:e.ii for.valu3tion otlndeFendent Drroctor and the Aoard


'iiMADHUR INDUSRTES LIMITED

14. To ev.luate the pertornance of the mennrers or the Board and provide ne.essarlr eporttothe Board r.r turthcr cvaluation ofthe Bo!rd.1.5. To recomnrend to th. BoJdon Remrheration payabLe to the D rccio.s, Key llanage.ia]Personnol and Senior [4anageheD!16. To prcvide to Key Nlan€eri! Pe.sonnel and Senior llan.genront rewrrd liDked(lro Ly to thcn'cllb.t, pc ornrancc, dedic.ti.n and rchiEveto..t rclating to the ComPa.y's

1.7. To relrin, motivate.nd pronrote taLcnt and to ensuro long tenn sustainrbility oftaleDted maDaEedal peNons and .reate .onrpehhve adv tage.t.S.Todevelopn su..ession pLrh lorthe Board and to regu a yrcvrewthcphn.1.9. To.s${ ihe Board iir tulnlli.g rcspoDsibilitics 1.10-lo lmpleinent and n,onitorpoLi.i.s ahd pro.esses regJding pri..iples ol.o.por.te govemarce

a) Drrectos (Exccunve ann Non ExecunlelhlKcyManag.rialPc.soDrclcl Senior ManaB.nrent Pe'!onocl

DIFINITION:'A.t neans the Coinp.nLes Act 2013 lnd RuLcs frrored therc nnder, as amendcd from

"Board' nrcans Boa.d olDnc.t..s olthc Company.

"Directors' mean Djre.tors of the ConlraDy

"Key M.nrgerill Personn.l' meinsi. ManrEing Dtrector, or ChrefExe.utive 0i,lceror [{anag.r and in thcir abscn.e, r WhoLe

ii Chief Fnran.ial 0lilcor;iji.CompatrySe.rera.y; rndiv Su.h otherofn.erJr may bt p'?s.ribed.

"senior ManaBeoent' means Senio. Manascnrcrt mears the pcrsonnel ol the .onrpanyvho are menrbers ofits.o.c nranagcment team excludLng Bo.rd ofDire.tots.onrprsingalLilenrbets orfranacement one LerelbeLol, rho exe.utive directo6, in.ludins the lunctional[eads UnLess the context othenke requ]res, Nords and exprcssions us.d in this po[cynnd not dcfi..d hercin but detined in thc Conrp.nies Act, 2013 as mly b. amended n'om.m.to.nrcrhalLliavedre neanirgrespe.tivelyassiCnedto themtherein.

MADHI]R INDI]SRIES LIMITED

POLICY FOR APPOINTMENT AND REI{OVAI, Of DIRECTOR, KMP AND SENIOR

Appointment Criteria and Qnalifications:

rl The Conrm,ttce sh!li rd.ntrry and 3s.e.ttrh the intes.iiy, qraiifi.ahon, experrisc andcxfercncc olthe person forappoinnnent.s uircctoi (MP or !! senior Manasementlcveland ro.oDrme.dto the Boaftl his / herappointment.

bl A p.(on shouLd possoss adequate q!aljli.ation, enpetisc and experien.e ior dreposition h. / sh. Ls.on]dcred tor !ppontme.t The Co ontt.D has tlis.retion to dc.idenhethcr qualLfication,.xpertise and cxpenence possessed by, person is strfficient /satnfactory forthc con..' n.d tosition

An lndcpendent Dire.tor shalL hold olfice ior ! term up to five lonse.utivo y.ar on theBoard oi the Company and trill be elieible lor re appointnrent on passirrB of a spe.iJlresoLftio. bythe Conpanyand dis.losure ofsuch appointment in the Board s.eport.

No lndepcndent Dircctor sball hold ofiice lor more than tlro consecutivc terms ot uptoinaxinrun of 5 yerrs cach, butsu.h lrdependent Director shrll Le eLigible for.pportmentirt.r erfjry or three ye!rs ofceasrngto becom.3n lndeperdeilt Dtre.n! Provided thtrt.nlldependent Director shall not, drrinsthesard pc.iod oftLEe yeax, hc !ppo,ntdd in or he

asso.jatcd !dth thc conrpany iir.ny othcr cap..ity, either dne.tly or rndirectLy.

.l lhe company shalLnot appoiit or.onnnue the eDploynrent or any Person as wholetjme Dire.tor dro hxs attained the aee ol scvcnty years. Providcd that the term ol tho

D.rson hoLdirg this positi.n ,nay b. .rtcrded beyond dr. agc ol selenty years snh dr.rpp.oval of shJ.ehul.lcrs by passing a spe.ial resolution bJsed on thc explanatorysratefrentanner€drodreioticeforsuchfrorionindr.!iinEiheiustin.rtioDlorextensionofaPPoinnncnt bcyo.{i s.vcnty y23E

!l NI!nagjng Director/Whole.tihe Director: The conrpary shrll appoint or.e appoint arype$on rs its Executive ChrifmaD, lManrging Director or Executive Dircctor for J term notex.eeding llve years ar a tin.. No re.appointnleDt shall be rnade ea ier th.h one yearbelorethe expry ofternr

bl lndependentDrecnn:

At thc nDlp ol !ppointnrent ol lirdependent Djrcctor it should be ensu.ed that number olBoards on lvhich such hrdependent Dire.torseNes h rs{ri.ted to selen listed companies3s 3n lndependent Director rnd dnec Lkted.ompanies !s an lndependont Director in casesuch pcrson N seni.E.s a Wholeritue Dire.to. ofa lGtcd comp3ny o. su.h other ntrnber!s may be prescdbed underthcA.t.

MADHUR INDUSRIES LIMITf, D

ThE Conrmrttee shall .a..y ort dvJluation or pcrrormance of eve.y Di.ector, KMP andSenjorMrnrsementPcs.nnelatreAularrntervll[yeany]

1 Remuneration to Mnnaging/wnole tine / Executive / M.naging Dirertor, KMP andScnior Manasement Personnel

r) RcnrovaLDue to rersons br ant disqualLfication nrennorcd rn thc Actor un{le.anyotherapplicable Act, NLes .nd rdgulrticns the'e un{lei the comnitree nlay recornnrcnd, to thcSoard with reasons reco.dod rn !vriti.g, rernovalola Drredor, KMP or Scnror [{anagcmentPcNonneLsubie.tro thc piovisions a.d comphance oithe said A.t,.ulcs and resulations.

bl Reti,emcnt the Diredor, KMP and s.Dior l{aDagement Personnelshall renre as per theippli.rble provsions oftlre A.t rnd thc p.cvrilihg poli.y olthe Conpany the Board wjLlhnve the dis.retiotr t. rctiI the Di.ector, KNIP, Sen]o. Managenrenr Pe15onDcl jr drc samcposnion/.emun.raiion or other$ke even lfrer attaining the rciircmcnt asc, lor dr.

POLICY FOR REMUNEMTION TO DIRECTORS / KMP / SENIOR MANAGEMENT

T[e Rcmutreration / Compensation / connnrsion et.. to be paid to Dire.tor / ManagingDi.ector ci. shlll be soverned as per pmvkjons ol the CompJhres A.t, 2013 and ruLesmade there urder orant otherena.torcnt fo.thc tinre bejnE in lore.

2 RemunerationtoNon.tx.cutive/lndependentDirector:

No rcmuneEtion / coNpensation / .omm$ion are Eiven to the Non ExecutiveIIdcpeDde.t Dire.to. of the company.

MADHIJR INDUSRIES LIMITED

DUTIES IN RELATIONT0 N0MINATIoN lvlATTERs:

Theduries ol the Comnrittee in IeLanon to nommrnoi ma!1e6 iD.l!de:. Erstr.rnE that thcrc is an appropnlte indu.ho. h pLace for nerv Dne.to6 and

member olSenior Managenent and rcvie!viir8 rts cfri.tivenessi. Ensu.ng drat .n sppo ntment to the Borrd, Non-E\d. tive Diredors receiv. a

fornrallcttcr ofapporntnrent in accordr..e Lvith the Cuidelrnes ptuvided unde.rhc

. ldentifynrg:nd re.o.rmcndinB Diredore r,ho are b be prt foruard for renrement

. D.tcrminingtheapproprixtesize,diveNtyandcompositionoftheSoard

. Deeeloping a su..ession plrn lor the Board and Seni.r MaDaBement and egullnyEvie\{nrgtheflaDl

. EvaluatinE thc pc ornan.c oa drc Boa meDrbers and SeDior Manlgcn,cDt in the.ontext ofthe Con,pany 5 tcrf.,mrn.e h'otu busincss an{l.onlplirn.e pe$pe.trve;Mrking rc.onrmend3tions to the Borkl .on.c,niog 3ny natters relati0! to drecontinuation in ollicc ol r.y Djrcctor .t aDy timc rludiog the n6p.nsioD ort.mnration ot scNic. of an l\c.utive Dife.tor as an employee ol the Coolpanysubjc.t to the provision ofthe lr\v:hd then'servi.d.ontact.D.legating any of ic porveB to one or nore.f its hehbers or'thc Se.retrry oflhe

Reconrmcnd any necossa.y dianres to the BoaftL andconsidcrirE any othcrnrattcr, as mayte requcsted bythe Borrd.

DUTI[S IN RELATION TO REIlIUNERATION II,IATTERSI

Thc dutics ofthc Conr'.iticc in rclati.n to.emtrhermiuo 'nJtters

incLude:. Conside.nrg and deterniininE the Re.run.rition Policy, bxsed.n the pe ornrancc

Jnd also be.ring i'r nio{i thrt the renruDerrtion is.easonabLe.nd sulai.ient to.ttm.t retain and nronvate mernbers ol dre BoJr(l and nLcb other tactoE as thecommittee slall deem appropriate all elenrents ol the remuneratioh ortlre menrbers

Attrcving the rehund iloi ot thd Senior Mxnrg.ment hrclLrdrng key manlgerjalp.Bonrcl ol tlrc Conp!Dy ,n!dt!initr8 a baLatr.e bexrcdr fixed aDd jDcentivc payr.iccting short and lonE tern perlomraocc objectives appr opr Late to the !!orkiDE ofthc CoNpany DelcgatiDg any ot jts polve.s to onc or more ofits nenibcB or theSe.rctary oithe Cotrrmiitco Considerine any orher maters as nray he pque*ed by

MADHIJR INDIJSRIES LIMITED

REVIEWAND AMENDMENTS:

i TheNRCortheBoardinayrevielvthePo|cyasaDdwheDitdeemsnecessary

iL The NRC may issue the euideline, procedures, fomats, repodnB mech!orsnr rndnranualin supplcnent and better inrpLementation to this policy, ifit thi.ks nccessary.

iLi.Tht Policy oraybe ainended orsubstjtuted b, theNRC or by the Board and as rrhen.equrred and ako by the complian.o ofli.er rvhere rhere is nn, stitulory changenccessrtati.g tIe ch]nge i. thepolicy.

ON BEHALF OETHE BOARD OFDIRECTORS,

FOR, MADHUR INDUSTRIES LIMITED

MANAGING DIRECTOR(DIN:00494521)

MADHI]R INDIISRIES I,IMITEI)

FORIq NO.AOC -2

(Pursuantto.ta se {h) oI sub.section (3) oJsection 134 ofthe Act and Rutes(2) ofthecotupo htes (A..o unis) R ul es, 2 01 1 )

Form for Dis.loi,.c ofP3i ticul sofcontradshmnEementsenteredintobythecompanywith related pJities refei,ed to u sub section (1) ofsection 133 ofthe Companies A.t,2013ln.ludinsce.tain arms lenEth transrctioD trnder third Droviso there!o.

L r..il.ol o'.,.,r J','r'9.1c'( o r. 'r..ror.,.A.' l,nB.l b..'.

[ *i' I

Nanrc(sl olthe rel.ted pan)MRS, PTJsHPABEN IARI(II

Mr VinrtParikh N1D & CFO oftheCompany & Mrs Pushpaben Parikh-M.rl,Prnlvr vinirPrr kh

.mngements/ trnsr.tionDurJtion or thc.onh s/

Salie.t ter:ns olthe..nn'x.h.rI anacn enis orrr.Lns r un

s pateoiapprov4b t! !!ir! tL/20L46 Amountpridasadvln.es,ilan

Thc uh.re ntertjoned rclatctl pon! tansa.tion is rat n Lotnpliencewtth the pturitons afth.(:o parksAct 2A13.

ON BEHALF OF THE BOARD OF DIRECTORS,

FOR, MAD HUR INDUSTRIES LIMITED

MANACING DIRECTORIDIN:004945211

MADHT]R INDT]SRIES I-IMITEI)

z Detailsofl-o.trs

s;

. Dei.ilsotlnvcstments:

sR [rf

MADHTIR INDT]SRIES LIMITED

- Detrils olGuJantee / secunty Provid€d:

sR(il

t!q9!lpie

BEHALF OF TH E BOARD OFDIRECTOR'

EOR, MADHUR IN DUSTRIES LIMITED

MANAGINC DIRTCTOR(D1Nr004945211

MADI,IIiR INDTISRIES LIMITED

dnnexuer llX

DETAILS PERTAININC TO REMUNEMTION A5 REQUIRED UNDER SECTION 197(12)OF THE CO]IIPANIES ACT. 2OT3 READ WITH RULE 5(1) OF TIiE COMPANIES(APPOINTMENT AND REMUNERATION OF MANACERIAL PERSONNEL) RULES,2O14i

(il lhe percentaEe inoease in renrunerrtion ofe!ch Dire.b. & chiel Financla offLrerduringtheFinarcjarear20l4l5,ratiooftherenrunerationofca.hDirectortothenredjaD renruneratjon oldrc empLoyees oithe ConrpaDy ao. the Finrncial year 2014.r5 and thd ..hpari\on of renunerJtioD oI cr.h Kcy lUanaBerial Pe.sonnel (KlVPlrgiihst the perform!n.e of the C!mpany rre as ondcr:

l

MADHTIR INDIISRIES LIMITf, D

(iil The medirn ,en,uDc.ation or emplotees or ihc compaDy durns the iinlncialyear \{as Rs.4n.445l-.

(itrl ln thc Financial yc.r thcrc rks no increasc in thc medirn remuncration ol

(ivl l he.e were 2 rTwot permrnent enrpLoyees on dre rulls ofcompany 3s on Mar.h

[v] conrparison or Reinune.Jtion ur the Key M3nase'L3l P.rsonntl (, against thepedoNan.cof th.Conrta.y:

aJ varllrions in the ma.ket capih[zation ol the company The ilarketclpitalization N on yarch 30,2015w.s Rs.6,21,53,000/- fRs.322,09000/ ason [1arch31,2014]

bl Pri.e Earnirgs .Jtn, ofiho Comprny \{35 563 as at March 30, 2015 and uas100 rs Jt Mr'.h 31.2014

.l P{cent rnorasc ovd/ ded'ease rn the market qtrotarions oithe shares ofthecompany as compared to the rrte trt \rhi.h the comprny.dne.ut \!ith the lastpublic ofler in the year . The company had .omp out with lnitirl Publi. offer(lPO) in theyerr2000.The.losiuB pri.e of thc Comfany's equity drJres.h dleBsE Js on NIa'.h 30, 2015 r,as Rs. 1s.2/., rcpresentitrs ! 52 i,rrrerse (BSEJ

ovoi rhelP0 pri.eRs.10/. eiLh

[vi] Thor $as no averase percentaae dranse ir tbe salaries ofmanascrl3l pcrdnneland employees .the. than the managerial peronnel in the finan.ial ycar ie.2014.15.

[vLi] The Ley paranictcN tur tIe !]rirblc.onlpdnent dr,stuuberrtion availcd b, thcdire.tors ri! c.trrjd$cd bJ, dre Boi.d ol Drrectors bascd on tlrc.ecomme.dari.ns oftho Noorioation aod Renruneration Cornmrttco as por thcRenuoeotion Policy lor Dircdo$, Kcl,Manrge trl Pereonncl and other


lvi]il The mtio or the rcmuner?tjon ol rhe hishest paid dircctor to that ot theenploy.cs who are not directors but reccjve renureration in ex.css of theljEhest panl dirc.tordrrlng theysar - NotAppli.ablerand

iirl lt is hereby alfimred that the.cn reration paid is as per the as pe. theRenrlncEhon Poli.y for U rectors, Key MrnJgc.iaL Per5oonel and other

D A'tE-. 14 /04/20rS

ON BEHALF OF THE BOARD OFDIRECTORS

FOR. MADHUR INDUSTRIES LIMITED

(DlN;00494521)

REPORT OFTHE DIRECTORS ON CORPORATE GOVERNANCE

COMPANY'S PHILOSOPHY ON CODA OFCORPORATE COVERNANCE:

Corpo.ate Covernan.e helps ro cnhan.c stalcholde('vlLue hy io.usjng on lonErem!a ue creation \rithout .ompromi5rng .n iDt.gntv, socinl ohliBations and regulatory

TheConpanyb.llevesthatgood Coryoratc Covernan.e hi..ntinu.rs pro.essandjtkour.ontinuour c.dclvor to rchieve good golcrnrnce, bl \!ay of a cotrs.lous andcon{i.ntious etf.Lt rvhcrclry ers!rjng the h'urh, rnnsparrncy, a..ountability rndrcsponslbility in 3lL.Lrderlings with ourstak.holdErs, c![u]ners, ehployccs and tho

'the Bord ol Directors .epresenb the interest ol the Conrpany's stak.holde,a, lnloptinrizra LonE tern vrltr. bt rdJy of proriding neccssa.yEuidancc and sn.atcEic vrsLonto the Company. Thd Boa'd also cnsu,cs dut the Company's manr8ement andeDrployces opcraic wrrh the highest degr.c olethj.rlsuhdards

I, BOARDOF DIRECTORS:

A, BOARD OF DIRECTORSI

Tlrd hrnrer 3nd .ateEory ofDirectors on the Board, tliclr artcndan.e at the Boardnrcc.Dgs hel{l durinE the yeaI and rlso rt tbe l3st Annual ceneral Meeting, thentrhber ofD,,ectorships held b! them in other compdnies as oh 31i Mar.h,201S

' AppainLed w.! f 3a; S.n.n ber, 2A t 4

MADHIJR INDI]SRIES I,IMITEI)

N{rv lio 2014.lrgrst 13 2014 N.vcnrber r4 2014 Febn,arv rl.2015 & 24s[larch 2015.

The ne.essary quo'um was present for|llthc mootiirgs

Nonc of thc Directors of Board is a menber of nrore than 10 CommLttees and noDjrc.tor is the Chaimun of more thrn 5 .ommittees across aLl the comp3oies inwhi.h l,c is 3 Director The nc.cssary dk.l.sures regard rg ConrmLttee portionsItavc besn nrade by all tIc Directors The hnmhcr of DrrcctorshLps hcld hy thcm nlothcr comprnies as on 31r Nlarch, 20r5 ls C ven below:

Fivc Burd MeetinSs $ere held drrinBd Ll not exceed Onc Hundrcd T\retrty

NlE Bhavna lilehta

the year and thc gap botween No meetinssDays. The dtrtes on rvhi.h the said meeunEs

B- IND EPENDFNT DIRECTOR:

Noie of the Dnector oi rhe cofrpany js on rh. Board of rno.c than 7 listedcoDlparres as an Indcpondcnt Diro.!r'. F!rthe., none !l the Dtredor oi theCompany is a.tjne .s r $,holc Tlnrc Di.cctor ol my listed conpary as weLl ashdcpchdEnt Dirc.tor i. more t|an 3 |sted.oinFrhics.

None of the Dire.ins of Eoa.d is a menrber oi Norc than 10 Committees and noDire.tor ls the Chrirmin of n)ore than 5 .ohnritt.es across all the ..mprnies ih[hi.h he is ! Di.e.tor. The ne.essart dis.losups reEaftLng ConnnLttee poitionshrve been nade by allthe Dird.tors

PuNuantt.s.he{lulclVof nreCompaniesA,20l3lndtheRulethade$ereuhderand Clause 49 oi tbe Listing Agreement, all the irrdependent dn.ectors oi thecoDpant het once durnrg a year, r,jthoLt thc atterdance o, non indcFcrdcntdh'c.tors trnd meorbcrs ol dre Manaeenent.

MADHUR INDT]SRIES I-IMITED

on the brses !l perforinar.e evaluanol crteria laid no!vn by the Nomitration andRemtrne.:iion Comnnttee & PL,ru3ot to tho p'olnLons olth. aonpJnjes A.t, 2013and Clausc 49 of ihe l,BtLng Agreetoent, ovErall pedornrance ind ..nh'ibutioD oiin{tependent dnccro,i and bo!d as lvholc 6 evaluated by the boaid ofdirc.to.s oftb..otupany at its oreennE held on 11ih Feb.uary 2015 and tiaDed the opinionth3t 3lLthe independent dircctors as well exe.utjve and nonexecutiv. diredor havepclfomcd thejr drty sntisf:.torily Jnd makinE their best effo.ts fo. thcrdvtrncenrent.tdr. coirprn!,

D, CODEOFCONDUCT:

The Borrd has laid dorvl code of c.rdlct for all Boaftl Membero lnd Scniorl\4anagerial Personn.l of thc Co'nprny All Board Mernhe.s and Senio' Mrn3gerialPe(onnel have affirnicd comDLiance lvrth the code orc.nduct and a dcclaration tothrs eflectsisned b! the Chielrinan.ial ofi.cr (CFO) has bcen ohtaiD.d.

A lleclaration si{Ded by N{r. Vinli Parikh, Mana!ing DLrector ot rhc C.npanyaccordin3 complirn.e.t suh'Clause (ll) {El ofcldusc 49 ofthe Listing Agrccnr.Dr is

atta.hed [cr.with turtrinE pJrt of his Ahhudl Rcport

The AudLt clmnttee coniprkis ol3 members out olw[ich 2 a.e Non Execrtrve lrelDdepeDdent Dne.to( AccorditrgL.v, tle Cofrpany has complied rvith the.equi.enrents ofClause 49 (llll (Al ofthe Listirrs Asreeinent r elatiag to.omposition

Tl.'.rr uf.,nj 1 ( I l( a.n anr,or ce....l'nc rirl.rrrs

oversLght ol the company! nnancialrcporting p.ocess aDd the disclostrrc ol itsnnJn.ial nrfor.ration to ensure dratthe financialsrateineDt is correct, sulUcient

Re.ommendru hr at0oirtnretrt, renrunennon ahd ternls ol appoiDinront otaLdjroB of thr cornp!n!iApproval of paymcnt to statutory auditors f.r any other scrvi.es rendered by


MADHIJR INDTJSRIES LIMITED

. ReviewinC, Nith the manasemeD! thc annual financialstaiements and audjiortreport thereon hefuc nLbtuission to the board lor approval, rvith particulal

' luatteN requiiedto be rnclud.d in the Di.e.tor's ResporsibrlitySrat.mcnt tobe jn.hrded jn are Boar.l's rcporr iI tern* oi cl.rusc (.1 ol mb_sectron 3 Dr

scction 134 oathe CoDrprnresAct, 2013Chtrrges,it.ny,ln.ccorntiirgpol ciesandp.a.ticesdndreasonstorthesameMajor accountirs entries invoLving estinrates has.d on the exercise ofjLrdgmenr by D'anageneni

- sjgDili.aDr adjustments m.de itrthe finan.ialstatcmcnts arhin3 out oiaudit

conrplLan.e \rith littine.nd orh.r le8xl requlerncnts rclatjDg to finrncla

DLsclosurc olany rclatod party trrhsr.tion5Qualiffcations h the {lmft rudit .cpo.t.

, ReviewLng, $ith the manaeenlent, the quarterly finnncilL statemeDrs beforesubmksion to dre board iorapprovrLi

z Revierving, with rhe management, the st ement ot urs / application of fuhdsraised thro!g[ ,b 6sue (pubLic issue, righrs issuc, pr.tirential isue, etc.], drcstaterncni ol lunds utiliTed fo. purposes othe. dran thote rtJted in the offerdoflrment / pr.spedrs / noti.e and the report srLbnritted by the honLrorirlgaEency nronitofrna thc utilizatioh oi froceeds of a publi. oi riEhts issue, andmaknr8 approprirte re.ommendatiors to the Boa|d to take up steps in thk

- Revicw and nronitor the auditors independen.e and perfonnan.e, andcffectivencss of atrdit prc.essl

z App.ov.l or any s bsequeDt modifi.ation.f h'ansr.tions olthc co,npiny with

- S.rutinyolirtcr.ollo.atc loansandnrvestmentsl. \ralratiotr oiu.d.trakjn8s or assets oldre co.rpaDy, r!hereve. it tr ne.estr'y;- Evalu.tionofjntdrnalfin.n.ial.ontrolsandlskmanagcmentsystensi. Rcvi.\,ing, \!ith the nranagcmcnt, prdon.n.c ol stantolf and intcrraL

audit rs, adcquacy oftIc inte] nalconkol systcmsiz Revjelvingtheadeqna.yolinternalarditlunctioniianyincluliog$estru.tur.

ofrhe intern!l audjtdep!rtment, $alfin8 and soniorny oithe ofucialheadioB thedepartmentreportnrgstructulecovcragcand f'cquencyof inter.al ardit;

. 0k.ussio. L!ith iftemrlaudito.s ofanysignlfi.rnt findines and tolld! trp there

. lo r.v.aLr.l 6. "i

r o. r'no..',eW,'l,. Blo.\! n c Li.n

ReviofinS the findinEs !f antr irt.rnal in!cshSanons by rhe iDrernaL ardjrosint. mattcr whe'e rhcre r suspected fraud or n]egrlarity or a f:ilure ofi' crnal connol systems oi a m.rerial nantre aDd roporti.g the m!fier to the

Discussion with statutory audio.s belorc ihe audit conme.ces, abour thcnature rnd 5cope of ardit is rvellas pos!JUdrt discussion to as.orrain any area

To ook into the rcr$n5 for suhstrntiat detuuhs jn the plynrent to rhcd.fositoB, debennire hol.lcrs, sh!reIo]d.ts ( n cnsc ornon.p:,ym.Dr ofde.tareddividend, andcredit.rs;Carryjng out any othsr function as is nreitioned in the t.rms oi referencc ofthe

Approval ol appointnenr oi CF0 [ie,, rhe Nho]e.tirne Finance Dir.cior or anvorr.., liinl".oirg.--r'nJ1icIr,. 0 { di.., rg,Br-". rr1!(o,l .trprassessihB$eqrrlili.ari.ns 0xpctcDcerndba.kCrornd,et. of the.indrdatej

Expanitlu.(il:'lhetertrrielrtcdpary!r'nsaction{straDhJvethesamemexninBrs provrded in c ause,l9lvlll oithcLhnnrAlreenent.

Additionally, the Audit Comnriftc. shnlt nrrhdat.rily revie!v

. liJrnageircnt dis.ussioi and a.alysis ol ffnan.iat condition

. Statenrenr oi sieDifi.anr r.Lated pa t triin.tjons {as definsd by tre AudirCornnrittee), !trbDinted b! iidnaEenrentl

. Manaaement ktteN / ldteB of internat controt weakhesses jssucd bv the

- lnt.rnal auditrep.ns reLatingro jDrcrnrl.onh.ot werLn0sses; and. The appoinnnotrt, removal nnd t.'ns ol rcnruneranon ot thc Chiei imernll

iuditor shrll he subje.t to revie!L bythe Audit Commitree.

The Coinmittee nrel4 [Foul rinres durinE the year 2014 1s and the attehdance offrembers at ths .reetings rvas !s foltolvs:

rnmeol vcmber strru No ofM'etingtrltended/hetd

l\L Vitt LlJSherrv , .5 .,", 1/ 4Lr.jpP I I frllr. Nr, rio'r r ndv..

Independent

Ulnrlrq 11! ]



The Audrt Cornmrttcc [as reriewed tirarci.l condition .nd resuks of operanonsfornring part of the management disctrssioD and aDaLysis, statenent of srgnificantrelated party n.nsactjotrs .s submitted by the managenent, ard othe. inlonnationas mentioned ir pam Jll IE] otClause 49 olthe L stLnp Aereement.

Thc Channran oi $. Aulit Conrnrittee of dre Compa.y $ias prcsent at dre lastAnhrrlC.ne'al Meetinsoftlre ComDany held on SeDtember 30,2014.

.) To rorhuLate citeria lor detornirrg qrxlifi.ation, positive attributcs &lndependence oidirc.tor.

III, NOMI NATION AND REM IINERATION 'OMMITTEE:

hr .o'nfl an.e with Sc.rion r78 ot the ConlpJnr0s Act, 2013 and Clause 49 of theListtrrE Ag.eenrent, thc B!r.d ir its n,cchnB held on AuEust 13,2014 hasre.on*ituteddre"Nominarion dn{l RernuneranoD comnirtcc.'

The Nonrination xnd Reinunc,ation Conrmittee .omprises of 3 Non ExecutiveDircctoN out ofrvhi.h 2 are irdependent dire.tors. The Chairnnn dfthe ConmitteeG !n lndependent DiF.ror. A..ordinELy, the company has complLed wilh the.equirements otchu!c 49 [V] {A) ordr. LEtirBfurcement relrtinctocompositionoiNoiniratioD and Itehunerrt on Committee

The temx olrcf.ren!c ofthe ConrDnttee intcr alja, in.lude the lblLorvjnE

r) To identiiy pssons $ho are qualined to be.ome dire.tors and \yho may beappoihted in senior nranaEenrent in accordan.o \!jih rho .ritcria laid down,r?cohDrend to ihe soard their appojntmcnt Jnd rcmov:1.

bl To crr.yout cvaluation oleve;y dir{tofs pelior nan!e

dl To recomDend to board poli.y relatjng to renn'ncrztlon ior the dir.ctoH, (MP:nd

el NRcshallvhLlelornrulatineDoljcycn .e

The ldvel&.onrnosition olremuneration k r.aso.ahl. & suli.icDt to artHct,ret!fi & nlonvatcdiroctors otthc qualjty required to I ur the.o. su..cssfully

b. Rehtiushif ofremu.erationto pelfonnance is.lear aDd meets approp atepe.f o.man.o ben.hmr*s, ard

MADHTIR INDTISRIES I,IMITED

. Remrnemtion to directo.s, KIIP rnd senio. .ranaBement rnvoLve ba]an.cbct1leer lixed & in.entive pry reUectinC shoft and long term Der'lormanceobjectivoaDDroD.iatctoth.rvorLinsoltbe.o &itssoak.

n

3l

To dcvisc a policy on BoJrd divcrsityi

Topeform any other ntrrnons as m3y b. rssj8ned to Conmittee by the Bolrd from

The co'nn,ittcc oret on.c in the yea. 2014.15 and the atrendancss oi rn.nbcE atthe toeetinBs rrere as lolloNs:

t/r

t/1

NosittingloesareprjdtornyDire.tor.The.ohrnritteeh3dmctonTs0.tober,20l4to decide the remunsration of Mr Vihi! Pdrkh, [laniEins Director and Mr. ShalLnParikh, Dir ectorofthe CompaD!

STA(EHOLDERS' BELATIONSHIP CO]UMITTEE:

ln cornpliance with Se.tion 173 .i rhe Conrpanres Act, 20r3 and Clause ,19 of theListing AgreemeDt, t|. Board in its inc.tihg held on lilay 30, 2014 h!s c.nstituicdStakeholdere Rolati.nshrp Cotonrittee,

TheStakeholdeB' RelatjonshipConrniifi..cohprises olfollowingnetobeis:

- No, ofMeetir,as l

-

MADHIIR INDIISRIES I,IMITEI)

The r.le of tho Commrrt.. is to hcar the .onrdaiDt and gievanc.s of variotrssccu ics hoL.l..s so Jr cnsure d,Jt tlnel! relief n dxtended to sccurities holdeEnr.ludLng shareholders in rsspeci.i theh'conlplLant. Additiontrlly the Commntc.3Lsolooksnrtotheshareholdc.s.ompLi,ts,ifany,rcl3tedton.nre.eiptofbalan.esheet, non re.eipt ofdeclared d vrdend, revalidation ofdividend war.aDs et.. andredress the same expeditiously.

Thc Conrmlttee met Four times during the year 2014'15 and the attendance olnrcmbox at the meetintss rvls :r follors:

Nuo E^r(tnenq"p!r4!l

Mr NJren!l J Chr\dr ',n:::::J:[ l ,-,;Allinvcstoir conrpln$s dirccdy.eceived bythe company arc reco.ded on the srnedate olrEeipt and resoLved inrmo.liately

SHAREHOLDERS' TRANSFER COMIIITTIEI

ll,".or'po.''i"1 o"l J Jj J-'.-r' Ja'co' r' r'..\ .r r"ll \'.

Thr slar rc..ir,.d lor.rtrster is,fprovcd oD r5'h lnd 30 olt|. each month andarc siv.n cffc.t by thc tteshnar and S rarc'lransterAEent.

Nl/S.l-lNK lNll[{E INDIAPVT LTD lvas$cll as physical share trahsrer\ork.

Vt. CXNIRAI- BODY MEETINC:

appointe{l as.onrmon AEent foreLectronic as

'Ihe detarls of lar 3 Annu.l ceDeml Meethgs (AcM, ol the Company arc as

30/09/2011 09:1S A.[1 [4ADHURCOMPLEX STADIU[I

CROSS ROAO NAVRANCPURA,

0l

Resoluii0ns in I-ast 3 AeMs:

hel'l un Seplember 30,2014, Trro Specral Re\olution\ sere pas\ed a\

tL,l

To borrow nom rimc to timc $L.h sunr or sums of nronetr as they nraydeem ne.essary lor tho turpose of thc busiDcss ol the coDpany,notrvjthstindingthatthenroniertobeboflowedtosether$iththemoniesalready lronoried br the conrpany (apat rrom.nsh.redir in2ngement,.llsLotrDt,ns oi bills.Nl odrcr tenrporary Loans obtained a.om co0rpany!Bankes in the ordiu'y Lou6e drbusinesl rnd rernainirc ouhtrDdirE rtany pojnt otrlme \villexceed the agSregare olrhe Pnid.dp shrrec)pital orthe Company and rts Free Rese.ves, i.o. rcserves .ot set apart tor anyspecific purposer Frovid.d thJt the total amount up to $hich monies maybe boro\vcd by the Bo.rd of Djrc.tore and dri.h shall r.nralnotrtstrodurgat anyEiven poirtoitiine shaLlnoi.r...d th.sum olRs 100nores (R( pees HuDdrcd crorcr.'

To srve ary l.an to any sody Comorate(sl/Pe6onG), to sive ryguarantee orio provide ant se.unty rn connectjon lvith a lo.n to any 3o{lycorporateGl/Person(, ard to acquire by way ol $rbs.iption, ptrrchaseor.tIchv]se, se.urities ofany Body corporate[s] rmt td de.ide limit up toNhich such iDves.ncDts rnsocur.es/lo.ns/suarantees,thatm.ybe silenor mado, no$rrthsbndiog that any lorn Biven to any Bodycorpofte(syPe6onGl, any sua.ante. eiven or ant se.urity provjded nr.onne.tion LvitI a ]oan to any Eody corpohrcGl /Fryson Gl rd toa.qujEby rv.y oi subsc ption, ptrr.hrse or othervise, securities oI any BodycorporatGJ harr ex.eed 600,tr o1 the aSgrec,te of the paid.up sharecipitJland Fr ee Rese.ves rDdse.trliies Prehiuh A..ouht] or 100% ofitsFree Rcscw.s, \,hi.hev.r is highcr at ary point oftime horveler it shallnot er.ccd belond Rs 50 crores it any point oi tinlei on su.h t.rns rndco!drtiofs, is the Board Dtry thitrklii


In ACMheldonSepternher30,20l3,noSp€cialResolutionwrspassed,

ln ACltl held on septehber 2s,20l2, no Special Resolution uas passed.

VII, DISCLOSURESi

al Maoagement Discussion and Atralysis:Anoual RcIort has a detailed chapter .n IlJn.genrent Dis.ussions and

Rel.ted Party TransactioniTherc Nere no t,?nsact ons \!it[ relrted parlies, which are not in theordlnary c.utse olbusirress and not on arnf s le.gth bash

The.e rvere no nratcialt srgnificarl relntdd pany h'aDsa.ljons drat mayhave potdntial co.tli.t Lvith dre i[crcsrs of conpany ar larg., durinC the

bl

c)

dl

The Conr|aoy has received rcpresentatioD frcm Senior Managcnrentp.6onnel drat there \!as no r.aterl:l rignificrnt inan.ial :nd .ommer.ialunsactioD ertered Lito by then rlong lvrth thcir rclanve where they havepe.sonal itrtc,rst thir Dray have a potentirlcoDllid rvith the interest ofdre

The company has foLlowed d.counting neannentas prescr ibed in Ac.ountjngStandnr.l rFFli.rhlc to thc conrpaDy

Neitber aDt non..oi.pLjancc nor aDy pcnaLty, snicturcs $ere inrposed on theConrFroy hy stock exchanges or SEBI or any statutory authorty on Jnyhrtte. relatcd to capitalmrrkeh durinS the last threeyears.

whistle Blower Policy (Vigil M€.hun ism):

Tlre compan! cstablished the wh(de Blo!!er Poli.y (\,ieil Mechinisml.hljne rvith the bcst Corponte Coleman.c Practi.ds; rhd Company has put iD

placc a system throrsh rvhi.h the Dirc(o6 or ehplor.cs ray repotrconcerns about un.thi.al and improper practices or Allegod lv.onglulcondr.t, sithout fear oi replisal. The functioning olthe !isil nre.hanism is

beinA nonitored by t|e Ardrt Committce liom time to tinc

€)

MADHI]R INDTJSRIES LIMITED


VIII, MEANS OF COMMUNICATIOX:

IX,

The Results of the Complny rve.p submittcd tu thd Sto.k Exchanges after thc

.onclusion of the Eoard Meetilg Thc oificial ner* rdleases a.e being

sinultaneousLysent to Stock Exchanses where the shares ofthe Comprnya.e lkted.

GINI&!!.SEABItrOIDItrINIoau4I!!!!!

Annua! Ceneral Me€tnrg, Book Closure & Divid€nd Payment;

The infor.lrtion oI Ilnh.oming AnnuaL General Meeting Sook Closrre atrdDivjdcDd paymcnt doiails hav. h.cn providcd in thc Noti.e of Annual Crn.raLlUeetins en.l!sed alons trith this Annul nepo.t.

At prese.r, the equity s|arcs ofthecompanyare lkted oD ttie BSE Limited ahd ASE

Nanre olStock Exch.nae

MADHIIR INDTJSRIES LIMITED

Z MARKET PRICE DATA AT BOMBAY STOCI{ EXCHANGE LIMITED

MONTH HrcH (RS.l (RS.)

I'ly 2014

215

linutrry,20rs 2l

REGISTRARAND SHARE TRANSFERACENTI

]!I/S- LINI( INTIME INDIA PVT LTDUNITNO303,3T'FLOOR,SHOPPERS PLAZA, OPP, [{IJNICIPAI- NIAR(ET,BEHIND SHOPPEAS PLAZA Ii

CoDtactNo.: 079'26465179FAx:91.22-23591563

SHARETRANSFER SYSTEM

The sharc transler (o.k is handled by registrar and ttrnsf.r igent lor the .ompany.sharc TransleiJ are registered ahd d$pltched lvuhnr a period ofthidy days from thedatcofthe LodEnrentsiithetrrnsferdocunrents,recorrdctand valid ir all respelts.TheCompinyhas obtained thehalfyeirly.etincates froh a Conrpa.y Se.etary ir Pradiceror dDe.orhflL,n.e orsh!re trrnsler rorDaljri.s rs per rhe reqrir.ment ofclause 47 (ClolrrcLrsnnsAsrccmcftottheStockExchansesT|cseccrlincateshivebeensubmitted

MADHUR INDUSRIES LIMITEI)

- DISTRIBUTION PATTERN ASON THE 31qMARCH, ZOTS:

D6MATERIALIZATION OE SHARES AND LIQUIDITY:

33.95.900 Equity Shares constjiLLting a3.03on of total number of ,iares ol theCo'nFny arc in electroni. lonn as on Nlairh 3r, 2015.

IsrN No IFor Drmrtcr rlzed (hJ'Ps] :

The conrpany [as .o cDRs/ADRs/wa'Bnb/Convertible lDstrumeDB otrtstandina as

. Address lor Corrcspond€nreSTADIU]\'I CROSS ROAD,

AHITEDABAD :130009

DATEr 14l03/201s

BY ORDEROF THE BOARD Of DIRECTORS,

FOR, MAD HUR INDUSTRIES LIM ITED

]\4ANAGIN6 DIRECTOR(DINr00494521)

MADHIIR INDI]SRIES I,IMITET)

MANAGEMENT DIS'IISSION AND ANAI-YSIS

1. 0v.rallReview:

The ovenLl perloflnance durirE the fin:n.itrl ve,r 2n14l5 has not be.n

Totrlturnoverfortheyearended3lnMarc|,2015\,asRs 1031.75|a.s Thk iDcrease

lvrs nlainly on accourt ol implovcnie.t r techniques of mixing olvarious spi.es and

ih{:nt mixer:nd s!les pronrotion drive Betterrvo rinl capital managenrent was a so

.rc.l tho enphdsis on rhich properxeiBhtaecivas laid up.n.

Internal Control Svstem rnd th.i.rdeou..v:Considelins the siz. of thc.ompan!, y.ur.ompany

control to provrdc rcasonrble asuraD.e thar a$et\

fronr unauthorized trse or depositioD.

ha5 adequrte systcm oljntcmal

Jd safe8uarded and prote.ted

4, BusinessEnvironment:

TIe Perlor)an.c olthe company lor the yE!r under revie$ was sahsfa.tory.

S. RiskandCon.ern:

Th.fa.tory premLscs, plant and nrachrnery, vehi.le nnd io.ks oith. conrpany are


6. Cadionarvsiatement:

Statctents rn this report.n hanagemcnt Dhcussjon atrd analyrs mry be fo^vaftl

lookjng irt.nrents withil thc merning of app ic.ble se.uritl lJlvs or rcgul3rions

Thcse statemeDs are based on certairr asumptions and expe.rrrions ol luture

elents A.ilal renrlts could howevei differ DaterialLy lrom those expressed or

iniplied.lmpodant lactors that could m!ke a diferent to rhe Compantrs opemtioDs

indudc Elobal and dohesti. dcm.nd suppLy.onditions, tinislcd goods Frices, rarv

nraterial .o{ .nd avarlabi itt Jnd .han8es in Eovc.nmenr regulatjon and tax

stru.tu.c e.ononric developmert within lidia and the .ounties with rvhich the

.omFnv has btrsin.ss contacts and other tu.ro.s such as litiSarion and ihdus$iat

relations The Conrpany rssumcs no responsibittnEs rn rcspect ol foMard tookin8

stateDrents whi.h D3y be amendcd or uod fied iir fLtrure on the b3sis otsubsequent

dev.l.pnrcnts, iilornation of event.

DATET 14/oa/2015

BY ORDER OFTI{E BOARD Of DIRSCTORS,

FOR, MADHUR INDUSTRIES LIM ITED

MANACINC DIRECTOR(DIN:00494521)

I, MR VINIT PARI(H, ]VIANAgiI]C DiICCIOT & CFO OfthE MADHUR INDU5TRIES LIMITED

l. I h.ve rrvielved ihc rinarcial slatenrerts io. the yeir and drat to the best of ory

kno\!ledge and beljer:

CEO / CFO CERTIFICATION

MADHURINDUSTRIESLIMITED

a. Th.s. {3ten,ents do not contain any materially un.rue statenrent o' onrit rny

Draterial h.t or .ontain statemehts that nright be mislelding.

b. These statenents give a trud rnd frir vier! ofth. (ar. df:ffairs ofthe company and

oi the results ol .re.ations and cash flo\vs. Th. nnarcial siatements hrve been

p.epared hrconiornrity, in all material respeds,ryith the exisliDg generally ac.epted

accountirC pdDciples in.ludirrE A.counting St!ndards, applicable laNs and

2. ThesdJe,tothebciofou' knoivlcdgorhdbeli.f,not3ns3.tionsenterednrtobythe

.onrpany duriDC nre year whj.h are lraudrleDl illestrl or violative of drc .omFahy's

3. la..ept overallr.spoDsibility ior the compaDys internal.ontrolsystem and ljnancial

rcportjrg. Thls is nronitored b! the litemal ,trdit fL'h.tion rvhi.h enconlpasses the

csnrination and evaluation ot the adequacy and eflectn,ene$. lnternal audit Norks

with aLlihe l.vcls ofmanagement dnd sra$tory auditoB.nd reports signi,i.aDt issues

to theAudjrComtuitted oftho Board. The nrditors and audit.onrniitee are apprhed ol

any .orrecrive a.tion takon with rdgard to sjgniricant den.iencies and matcnal

MADHIIR INDIISRIES I,IMITET)


4, lindic.te tu rhe audito$ and to the!udit comnrittee:

a SigDifi.antchaIgesrnintenr]l.ont.oloverfinancialrepornrgdrringrheye!r,

b. Sisnllicant.hargcs,naccountingp.li.jcsdunnEtheye.r;

.lnstancesofsisnjfi.antfraudoflvhichlvehavcbecomeawareolaDdw[ichinvolve

manaE.ment o. other ehployees $ho havo signLficant.ole in the.omprny,srtcrnaL.ohrol system over linai.ral repo11ing.

JIoNever, durinBthe year there 1verc no such dDngps or instan.cs

DATE:14l08/20rS 5!LL

(DlN:00494S21)


DECLAMTIONBYTHECHAIRMAN&I{ANACINCDIRECTORABOUTCORPORATE COVERNANCE

l,l{R. VINIT PARIKH, Chaiuan & Manrgiog Dire.tor .f MADH u R INDUSTRTES LIMITEDhcrcbyconrirnpu15uantroclarse49[1][d] of ttreiktinsasreernent tlLar

1. The Board of Dire.t.rs of IIIADItUR TNDUSTRTES LItTflTED has trd doRn a code of.ondu.t has been pla.od oi thc.onrpanys lvebsne

2. All the mc,nbers ofthc bolrd as well as serior mana8ement personDeL have cohpliedwith th. s3,d.ode ol.ondu.t ior the vea.etrded 31n Nlarch 201S

DArEt14/oa/20ts

AYORDER OF THE BOARD OF DIRECTORS,

FOR, IlIAD H UR INDUSTRIES LIMITED

{DIN:00494521)

MADHIIR INDUSRItrS LIMITED

AUDITORS' CERTIFICATE ON CORPORATE COVERNANCE

MADHUR INDUSTRI ES LI MITEI)

IIIc have examined the compliah.c ofthc..ndnnnrs ol Colporarc Gov.rDan.. bv MADHIIRINDLSTRIES LIMITED ( tho Company ) fo. thc yea. ended i.hr.h 31, 2015 as stipuLated inlhuse49 olthe LjstinC ,^greeorenr ot the Conrpany Sto.k Er.hanges in lhdr!.

The conrpljance of .onditions of Corporate Covehan.e is the restotrsLbLlity of the,naragemeni Ou ox.tuLndtion Lrns hDited to J revie\v of thc pro.cdLr.5 andiniplemcntation there.f,:doftcd by the Company lor.nsLrjnC the coffpLirnce of theconditions olCorpoEtc Governince.lt is nclther an nudit no. rf, exp.cs\ oo ofthc opin,onon thc iiranclal sratenlents or the company.

lD our opinion and to the best oforr hrfomation and explanatjons gtvon to us,lve .ertilynr:l $e Company has complied lvith the .onditions ol Corporate Covc.nan.o ex.epr rlreCo'nposition ol Board of Dirc.to.s ofthe Company as *ipularcd in the ahovc mentioned

We nnth., stste drat nL.h.onplia ).e 6thr a.frprny nor oi thc cfijcien.y dr.ondr.tcd the alfair olthe corpaDy.

netrher an assu.ancc as to the hrture viability ofeffectivehcss wlth lvhich the manasement has

([1 No r62129]

I nd$endcnt Audilor\ R.port

\I lDH I R INI)I]STRIIiS LTD,

Rcport otr rhc Finrncinl S.aremcnls

\\e h.\c audiled rhe accom8nrir! tinrDci3l dxrrtuenr of llldhur lndurlrica

Limired. lh,cb.omprhc thc Brlan.. Shcct as xt Nlarch ll l0l5 xnd the

srareDreDl ol Prc,iland Ios\and cas| fl.u naleme Jor$e y.ar(henend.d. and!

nnmrn olsigniliuant ecountiie NLicies and other e\plana(n) inlomr.rlon

Ilnnag€'nsnt\ Rc\ponsibilit' ror lhe Financi,l Si,lcmcnx

Nianrsc,.cnr is resFonsiblc lor drc prep.r.rnh ol rh.\. lituDcial slal.men( rhll

giv. a.!. and llir \ie! ol $c nnancii posnian. nnxDcial perloman.c lDd C6h

ll$\! oa r[c (oirFi\ iI rc(\dad.c \irh th. Accounti]rg noh.ies gctrcrall]

....preJ in lndi.. nrcludnrs rhr \ru in-{ srxnd.rds sNcllied trddcr secrion 1llol rltr C.mparies Acl. 101: r the A("r r.dd \ith Rule 7 or lhe c.nrP.nies

(A!.ounls)Rulcs,201.r. lhis 'rsp.n.ibiir)

.h. incndes nuinrenancc ol adequtc

.ccourr ns reco s in accordance Nilh $e p isnns.lfic Acr 6r saicgurdinl

rhe ascrs ol lh. ti,npxD\ inJ firr nre\enlnrg ind deLecli,l! tiduls lnd .ther

ircguLirirics: sclc.litm inJ ip!lir.rirnr ol rpp,.fride x!cotrnril)B Doliries: toiling

judgn.ns .trd cninlres llur ar. rea\)nib]c rDn pnrdcnl: inJ d.sigr.

inrpletuenurion ind n)xintcndn.e oaodcqurtc iftsnrl linancial conuols.lhat \cre

opcrarirg ellerrnel\ tur enndn! thc .ccurc] ud conrplelcn.$ ol th. accouoling

Hords. Fle\ant lo rhe pr.arrilnnr anl pNsenr.rion ol thc tnun.irl iarcnrcnls lhll

sne r rft rd irn ri.\r xnd nrc lree lion mrleid mi*r!rc'.cD(. \hdncr duc h

.1. Auditort Rcsrionsibilitl

Ou Esponsibihr is ro e\pts tu oti'rian dn rh.sc firanciil $atnrens bascd .n

our xudn \\'c ha\c tltco irno u.counr drc pr.visions ofrIe ]\cr.lhc rrrotrDlin-i and

$. u uctd our iuiil u a.cord.nrc snh the Shndards on Audiling \ ciicd

trndcr s{lion l.l:l(10) ol rlrc Acr Th.s. Sttrd.trls cqui't (h \t comnl) \nh

dhicn! reqtrircncns dnd plin and tcrlnrnr rhc dlr () ohr.iD naarnxble rslrrnle

ubournhcrherthe 6Mnci.l nnl€inerls are liee lion marcrixlmnn emcnr

An rdn nnohes Frllm1i.g tmcedurc5 ro ohtain xLldir L\lde..c rbotrr th.

amorD(s inn drc dlscl{Nurb i drc tnr clll rar.i1.r6 lhe prcctJur.s s.l.cred

d.Dcnd on fie.ndit!'s j0dlDent. iIcluJi.g Ihe.s.ssncnl ol l][ risks olnralcrial

mLsn k'ncnt oirb. tnrancirl srdren.nrs. sheLher due N th d.iior lrr mlling

nros. risk assesnrents. thc rudn.r..ns es rrernaL hrancial ..nuol rlls\ror b

rc Co'rpin] s rir.nrmrior oi lhe rinan.i.l nalemenls thal rn€ a hc and lln \iew

ir o eL b dcsign xult( pturedur.s rhar re amraprillc in the .ircumnanc*. but

rol Inr $e ldtosc of.\ptlsshg in oPLnitn on \helhe. rl. Compan) h!\ ir pl.ce

an adequat ntcnr.l nDinc l conrroh J\i.u o\er llnrnciaL .sPori|-! ini lhc

of.h r-{ elllcrneness ol such cd.toLs Atr xldn i \) includ.s .rilrdir-r rh€

.pDroprideness oi Ili. i..otrDriI-! poLicics us.d and 'h€

rexsotriblen.ss ol lIc

accounliir-e cni,nric\ mrdc b! rhe conrtln)_s Dnecus. !s $li as ev.luarins lhe

o\.rall Frcs.trturnD ollhe fi Mncial n.brenls

audni.r i.nd!d\ and naners \hich 3re rcquircd lo he included in tlt ludir rcnon

undcr rhe pLor[tuns ol lh. Acr and lhe Rules Dlde Iher.url.r

\\. b.lie\e thxt rhe iudn e\ nl.Jt.t r.lra\c obtnrcd is \ullicie,n x.d inproflixl. r)

pio\ldc a bar \ rnr ou, lulil opl.idl

ln our opnrion lnd b thc bcn olonr intnmilior.nd iclo irrg b the e\planatnns

snen o us. rhe llnuriil iar.rn.drs gl\c lhe irnnmxrion Nqun.! hr $e Acr if the

nanncr $ kqtrnelL$J !i\e x tnc ind i \ies ii contumrn) \\n[ rhe!c..unrn]-q

prlncirLcs ,g$rrdLlt .cc.tr.d h lirlira) m rhe.,se otrhe Balance shccl. ollle sldle 01lll.ns ol rh. .(,Dpur as

Iurrdr 1l l0li rnd

b) in lhe casc ofrhc Sl0lcnrefl ,,1 Prfi1 ard l-os. ol rhe ptull!s Ior rhe Icar.rded

.) in rhc c.sc ofrhe Cash no\ Stat.nent. ol$e cash nors lor rhe tcar ended on

$'e did nol ludn fie ina cial sraremenhinlbmrarion ol VtL.lbai branches in.ludcd iD

rhe liD.ncirl satemcntsol1h. (ronpmr \Lhosc financirlialenlcnts tllecl llnaLa\sccoan\lRslaais9lrssilln\rrr.hl0l5rndroraltu\enuesofl{\69..1,11.77.1.7i1or$eIear erded on thar dat.. as conside.d ln the tinancial st.lcmenrs lh. tnrancial

{at.metrls ol lhese bnnchcs hare been 0udncd by dre hroch audnoN shos. rcponshr\. bc.n lurnisheJ ro us. ind our olinlon rn $ lar as n rl.res Io rhe smounls and

disclosuri nrludcd i. r.sp.cr olrhe branch. is bascd solcl) on rhe rcton ol suchbran.h

oiroFinio.isDornrodlr'lcd iirr.sDecrolthisn uer

Rcport on olher l-.a.1lnd Rrgnhtury Rcqnir.m.nls

As reqrnlrl b) lle CompiDies iAudinri: Rcpon) (nde. 2015 ( rlrc Ordei) issued

b\ lh. rcnt,l C.r$nDr.rt oa lndia in enns ol $b3se.irn (ll ).l secrion I ri or

tlrc A.r. $. gn. iD ti.,\nne\uE a itdcnrent on rh. nrrte^ sp..ificd ir Lhe

orn-luph r.nd.1olthe orJ$. ro thc c\lenr appLiclble.

'\sLequired brseclion 1.ll(l)olihc Acl. \t.etofl thrr:

\\. h.yc obliincd trll the inlnrinrlion md expllnadons. "hi.h

10 the hcs ol our

IDotrled-ie.ndb.lielrcrcn.cc$ar\ la] thepurI).\eol our.udill

l'r orr opnrion. pirpcr boolis ol Accounrs !s Equird b) law harc been lepl b) rlr

conpan! so 1ju .s appciN film our examinxlnr oi the\ebooks:

'Lhe R,lrce Sheer the SrxEnenr oi I'>rotir & l-.ss rnJ $e C!n, Fknr $atemcnt

tlerll rilh b) rhis r.Fo r. i'r.grccmen' \nh rhe books o1 Ac..!.t:

d) ln uur dpinion. rbe rloLes.id fiianciaL nrlenrunr\ comrlr $nh dle \ccourins

Srand.rds sFcificd rtrd.r Sedhr 133 ol lhe ^cr.

reld \rnh Rule 7 !f rc

(rdnprtries (Ar.ouB) Rules. l0l,r:

E\cept Ac(onnring Strrdrrd 15 on retirrmoni bcn.lits ,s provnion Ior

gr!tuil\ is not br!cd on !clu!rirl rrlu,tion Iur on orher ratn'n,lc basn nhile

prorisn,. for othrr brnefit\ such nr l.irc rnctuhm.nt hns noi besn nrd., Th.

efler. of.hr srhe crn nor l)t qtrrnrificd, to tlht orrcnt profir for rh. tcarandh,lrnr€ of Prnlit & Lo(,c.o',nt i\ nfd\lrtd.

e) On re hasis ofsitcn rcpresc nlion received lmnr the Direclo$ ollhc comljan].

.s rl lln lldch. l01t nnd laken on record b) the Board or l)nccttr. \e Epon

thrl rone ol rhe Dntd.rs is dlsqnnlifi.J as !n:lln lllarch. 1015. ti.n bein-q

rtpoi'n.d r\ ! Di,.cen i,r r.ms ols.c1io l6.l (l).1$cArrol(he Comlarics Acr.

t0lii uirh Es|ecl n, rhe orhei nDne$ tu be nrcluded ir rhe ludrror's RcFn itr

rrco rncc $ h ltL']. l1 o, lhc (i,nptdie\ (Audit a.d AudiroN) Rules. 1011. in

our.nlnnr lnd lo r]t ben olour intunnlrnD .rd acco ln-! t(i $e expLanari.fs

i) dre Comnanr l$ dk.los.dr1r iNprcr oaF.din! Lirigariotrs otr ns llDancial

posilnr in lNfinrr.i.l{.r. crls

,i) tlu ('onrp!trr lrar m.ne pLolision. as reqrnld under $e rpplicable la\ or

accounl ig landardr lnr rnderial loEseeahc losses. lanr. on long lernr

..nrr!G nrcludinp d.. \aiivc conlracts

iii) s inn)nn.d to !s. thc cohp,nr has nor &nslered unJ !,.ouD6. ro dr.

7. Emph.si3 olMane6(a) The b.nk t.ortrrs ofrhq.onnan! $n[ Vadhupufu NJetoanril. (o operari\e

B0nk {as nol olcrn e bec0useol.losureoabmk the linan.ill v.ar:001.01

& ul{ Do hd$.. enfiflnlrioi has hccn obr.ined lionr orher blnl (c\c!tl

Kvlll.0311100000667l) no onnni.n h.r b.cr nrad. ntr brnk brlrn.c.l'16.98..17:1. l)r) in ldnsn olRs ll.l72. doubllnl sundq debrors ol l\ ]:r091

lar & d.ubtfirl .d\an.e ol R: l9.ll lxc\ e\ceeJnl! six Drorrh lhe

!onsequenrill ell!.r dlnris G dd asccnxnnh.

rh) f,_ore in sc[.duLc rc]arnrgto non-Frorision oainkren on i\.dd.Fosil (lccepred

preliounr u,s 58 ol thc Com0ani.s ,\{.19t6) ,or lh. yoar cndins ll'r Varh.

201i and nrnlrLrdrercas[cd tix.d Deposns aor {hi.h .heques $.rc is cd

li..r sepir . blrk accounr lept lnr I:D brdre to susNnsn or \lvCB \.r.. dor ioaomrcd ol the tunhd ettecr

r.) The cfnrpan) hr\ i'r.{cd an rounx ol Rs. 11.6.r.092 iD rh. drarcs of

.ssocirtcs xnd .o Fo\nion is tuldc ror dnnnndon nr the \atu ol ntr.n'ncnt

thouxh there i\ othcr thrn renrporan dcclnre.

Contanr h.s nol prid s.nice rd{ und.r Re\eAe lharBc Vechanhm on

M.npolrcrSupplrSe icc.mlLegrlseîcesrotal.Drounring10Rs.620l'1.

I)uriDg lhe lcar co'npanr hls mid. Frmem lnr unclaimed dnidend ol pior

re.6.cheque\ remxin uDcler lor llt sNr..s of hrluc.sh.el aalc

Subi. b rhe !bo\. ln !u oPinntr ard ro dre besr.l our ininnnxiion 3nn

mcordinr 10 rhe.xthtrdions snrn b us. rc e lccounrs. Le.d in roliundnr

\ilh fic 5ignincrnt icconDrirrr policics (Nole-:5). \o(ts 1o finrncial Suenrenh

(Not I (, ll) lnc th. inl'omirion reqrn d hy thc Corntlnict ^cr.

l0l:r. in rhc

nrsnn.r $ .equired.nd gne a lrue ind liln \ie\ in connrnr] rirh lhe accolDring

Nli!,.s g.nerdlt n.replcd ir lnJir

sd.L

l) al Thc companv h.s mlinrlin.d ptuper Bcont\ sho{nrgqnorrirdrire dct.ils lnd si(uaron ol ix.d !\sels

b) ^s

p.r rlre lnliinnari.D & e\plailarnn, -qncn ro ni. the /\s.ts hr\c hcd phrsicrll)\crilied br nranlscnt durirr! rtsrlxr iirervlls nnd no n,xl.iiLdircreFnci.s \ercnoti.ed or nrch \enl.ri.n. hoserer dcrxils re!a1dnr! lhe sa.r. xre nol x\dilabl.

2) 0) As inlortoed b us. re ln\Nnttries havc bccr ph)sicall) \eificd br rhc

b) lD our opinion :nJ lcco,Jmg 1o r|. ilnnnilnr inJ dCla'tr ni rn.D ti us. 1[.p'o..durc tnr nhrsicd \eriricxtl.n ol enuries lnLld\cd bi t[. Dranale]t. t\rcrc rca$n$le.nd adequarc. in rcldionlo tu siz. olrlrc Coinp,nl and lhe naturc

.\nndurc ro Audiror\ ltsFrtLlt rDne\urc rclared ro ir our lndea.ndcnrludtr.''\ Ia.Fln olnrN,l,dl,nrl, unnes Ltd. oD lle inincLll nalcincnts 1orfie vear

.\en d.rc b tbc modbcts

lull plnicuhLs. inchLding

rcords. Nc are olrhc.Prmon rldol nncnn,r As .xflained hl

nori.ed on phrsic.l l.rili.dion ol'

.ov.r.d in lhe 8-sisr.r mrinranrcdlhc m.rinrum balJnce ouNandinr

!l On rhe basG or h,ud \eii.atnn.f iNenlor)rh. .onFr) ls manrlanrnlg ni.per r.co rrnanascm.Dr. \o mr(e .l di$E0aDcL- rereiNentory !s comprred r. b.ol r.cords

'Ihe comp.Dr has -lrantcd lorD ri si\ FnicstrndeisecrioD l8'rollhe(omprnies,\d. 20ll,lurnu rlt \.xrNxs Rs ll.ll.5l7

h our opnrion fie Dre ol itrr.r.( and olhcr tcms & coodilnrni of suuh lla r,!trnnx tlci.. preiudi.ial ro th. irtcrcd.alheconpanr.

l)uin-s lhelearilso neirlierlt. triNipal.monnl nor irne.esr has h.en recorcr.drh...Drpxnr lionr ll. px icscorureJ ud$npxir.srid rliner

lhere is a o\erdue lnNuil olLi,xtrs -{r.ntd c\cccdir-! otre h. nl case oilournxnicsxM $e .onrpanr is in proccs\,,r reco\cq oIdr. .mount lo rhe ldies covcrcd inl. '.- re' rx..r. 'rl'.lt4 | ll.(.'

' 'n '.. \':0.:

'1) lr ouo|i'riN lnd arlordir! u rhe infoandtun dnd e\pl dions si\en ro us lhcE o!xdequxt. i .rnal connrl focedures uomnNrru,rr! \nh $c size ofthc c.mpxnl lndlhe nll(c otns busincss. \irh reerJ D0rchosc olinvcnroics & li\ed asscls and lnr rht..'le...oo.'.Drn.r 11\ ' '. {! (..llilue ro c.tre.t major\c n.ss in intenrdl conrols

lhe coniplnr has nor acceplc! tu) JeF.sns liom publir e\cep! thc !,1\ancc nroneli...n.d atum the cuvomer esceedins:r6-i d.\s in the ordifar.r couê.atnle oi\hiriti lrnx nl \ Rr l6lrrlz

6) lh( rcfr.l Coremff..1 hxs nol plelcnbed drc Nainlerance .l.oi Nords undcr

i.rnr. I l8(l ) oll h. (\nnpmis {d. :0ll

Acstrdrng to nr.lDtun rion and txplaDaions snen h us rnd o.lhc hxsis oathcc\onrinarion ol th. hooks olAccounr- thc Companr has bu.n ge.crdll) reguln ltr

deposiliry the undispded $.tuto4 dues ntludtua lrovidcnl lund.limplolees nale

ir$trr.nce. In\eslor [ducaim & Ptulcdn)n Fund. Incotu. ra\. sal.s lax. scrhh t!\-e\cn. durr..nrom d!l\. Ce\! x.d aD\ odr.r nnlulor du€\ durin! the tcar $ilh rh.

As |!r the i.fonnarn,r dnd explanlrnns gncn lo ns. rnd dnails producld lnr\eiu.aiion- rhrr. nr dks of lrcoDre T!\ of Rs 6.7r.76: rhchhavcnorbeendepositcdaslhesaiddispureIacndnr!beloECl1 (App.!l)Arcordins ro rM inlnanilion and c\pLdxtions givcn to us lhe comPan) his ool

lunslercd any rnDunls 10 rh. irn.nor educ!tun and protcclnD linrd.

lI our oainion & acco nr-{ ro rhe lnto.nxlion & e\plan. rn -rnen tu us. lhe lompaD}htr\ nor i'rcuftd inr .Nh lo$cs du ir! the rinxnci,lr'.ar umler Eric* voto\cr'rhe$n|rn) hls accurntrl.t.d bsscs ol I( ]()I 13.132 al rhe end ollinancial ).ar.

Ac.ord Ds lo ncords ol .ontair e\amiDed b) us and on rhe b.sh ofinlnrlilion dd.\tldDarions -!iven 1o us. lhc romrrnr h,s hsucd .hcqtres ol Rs 1.10.1)7.8i1 - fro n i1\

.urcnr lccomr lor reFxtnlenr olrcfln loin ro lvldh.\tura Nler.anr L co op Il kl-rd. Rr \rr ol hnsld ol ti'nd!. \\'e dL. unible ro .xprcs\ our ofiirion becxrs.n..es{rl los0nr.ns are nor a\ailxble b) bark b us \h.rher srnr.lr.\c been cNdiled

lorhouroplnidr anll rrco'nios b ihfonnd n rnd e\plnnarion gnen ro us. ihc c. pinlhxs n.r gircD inr lururee lor rh. L.ins tten bl olhc6 ri{im b.nk or lnrdclll

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\c.ord rg b lDli'nnilion tnd .tllxndrnr !n.n Io us. no our€rial ti. !n.r b) dkc.iuht hxs bcernoriled orEfoncd duing 1[..orrec ofournudn

Chanc'!d Ac.ounrarls

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MADHUR INDUSTRIES tTDROsS ROAD, NAVRANGPI,'RA, AHMEOABAD-09

SAIANCE SHE'T AS AT 31ST MARCH,2015

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MADHUR INDUSTRIES LTDMADHUR COM PLEX, SIADIUM CROSS ROAD, NAVRANGPURA, ATIMEDABAD.O9

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f4!Iurl-dr:!r! !i!!r!!(Notos fornring plrl ol lin!tr.ill d,.emsrs lor lhctcar.trded on 3t'' u.ich 2015

1. Si,rnificantAccoutrtiry policics

i) lh. liddi.ixl Sr.reinetu rrc nrcnrred ii acuordan.e s th l rn Cen.rLl) A..ePr.d,\r.ounrin-efrincipe!rCAAP)onArrnL,lha!\,nrl.rlh.ll!.ririLC.((otr\cror& tu comtl] in xllmakrixL..\ncd \il[ rhe norifi.d l.lounrire \taft]ds P.e*rihgd 6)Se.fon lll ol the (onrFri.s A(. l0ll rcrd \irh ltu e 7 ol ComOrtries i,\rQufh)

ii) Tlrc flcn.rftof ofirafcia {arcmcDrs in cotrlooniq \ilh C.\,\P reqtrncs mai.senrer(N 'nal. enimlrei lnd nJumplions ll,d alled ttu rlpoftcd bxlan.er ol as.s rndll.hiLirie!. the di\.1*trr..l.onriige Lirbiln:e\ a\ rt thr drr. ollhc fiDdr.ii naEnenr.nd reponed.m.trd6 ol rn..nre xnd c\nenses Jtrrng rhc Nrod Dlflerenrc' h..\eei1[e uduul EsulB and eriindes rE rc.osnized ir r]re Niod i'r \hich rh. .esu s irc

l, \cd A$.ts mc {ftcd rh. r oi! tri C6r olxcqui:iriof .s rr( nr rkd d.t.r.1.'lhc($r.1fi\.dar\cFincnLd.ilri!hl 1r\r\ dri.sirdoir..ircidenlxL(\P.i\r\rclxl!dro{qulrilion aDd.tr! odDanr htrr.bl...n olbringing rc r$cr ro i1r \o(irg ordnior lo

D.preciitioD on fi\ed A$e[ hxs beeD pmvided otr Sta g[( LiDe llclhod orer the u\clnivcs olissc$ cn nrarcd hl \lair!cDcnr. Depi.c ft.tr lor r\lels ptrthxscd ni d d0rl1!.rpqi.dnfrop.n.norc\rho'SrdThc\l:nxgc.cnlcni xr.srlr.tr5clu n.siororh$li\cd

( .D|ulcr Fquifn.fr

lnren6^ olCoods ie

l..ng l.flniNc5rmen(reQred.t.o!.PrurisiotrolDim nuln r inrhc\ah,eol Lotrgr.rn nr.nmcnr is Dlrl.onlr il su.h dccl ne sorhcrrh renrl](hq i natue in'he

l) RAe ucRc.ognirn,n:silc olloods is re.ogtrized \hetr sign licMr ris[ ]nd r\ardr s kxnsltrrcd- dnotrnr ! n b.r.llaU) neasured rfd it s rrllnrrble to crpccr nlrl nIc collccrion luftn.r in. ts:tlcolsoods. sxlss ra\. xnd xdiuied lor r.luc iddcd h\ I'ncre{ ncome is rerogn 7.d or liineproNnion b.sn hktrg [o c.Dsido.rion rhe rmounr oubbndire and ue.ppli.abc.hner.(o0 ovcrduc in{xll ncrs dclauhs & Municipa la\ s aucounred on crnr bri s.

I'ro\ \. tur emplo\ec\ bc clir tc.xfuil\) 6 rnarlc oo rarionxle harn r'or grotu1l \hiepro\nion lhr oth.r h.neliI nrh ai e!\e !DcasLrDrctrl hrs nor been

'n!,je Thn xdc.trring

poLi.\ oJ comprir i: nol i'r conrtnlrc. \llh \S l: 'Lmpo)ee BeneliA" n\urd b) ThcfnitulcolCharlcr.d Acr!trDrnorsol hllii\hirhpr.\c.h.\Aclua,irl VxLonrioD

Pro\nioi lnr.urcnl1ar is,nrd. rltc.lallng inro cofsidemtiof beDcri6 idm sihl. r ndr. rfro\isioN olr[c ltrcoh. rr\ A.L 1961. Dc,rrcd th ]t$Llri'rg rion rnni'rs dialc...c"ber\een taMb e and accou0l ng i'trom. s o..ounle,l Lri,rg 1l,e lx\ d!\ ard la\s dr.l xr.eiaded o. {bQnivcll euqed as on the brlxn.c dr.cl dde. Deleire.l rx\.\*r i\rcoo-.trizcd rndcxnied loNrrdon] hrree\le rh rlrcr. s\ifurxlccni rl th$nfficicDrfururc to\ablc trcoN trill bc xrrihble xgri'Er \hich sucr d.rc' cJ h\ ascG.aD Lrc

\l trinrm illcrdile ra\ (\lA l) ntr d in &cordxtr.. \nh rhe hx l.ss. \h ch !i\.s risc roiitre e..n!fiic hcn.fts r ir. io . oru\ qedn x-griDj lnue ir.oDe h\ lrbiLnr. nrc.ogtriTedrs$r\erinrhe(ofnnddedBalaiccsh.ctiltlrcrcscoi\tr!ln!$dcnccrlmtlc con,prnr \i lpr\ nor ni rar ir lnrurc and Ue reJlriDl AseL. r be neritr.d rc hb \

i) l,royisn,nsj Conri pcnl Liabilities.nd Con tinedt Assc.s:ho\niotrsrr.rccosnizcd\hc ih..onpan! u\0re\enr!hlisnl.nrs.rcnrlroipric\cra.lnr \ ridr ir s probihlc drd.D.u o\.lr.s.u'.e\ snrhoJring.c.trom c bcicins \ilb.r.qtri'.rl o sc(e rh€ oblisxii.n rnd r reLixble cni'nal. c h. nadc f.r lrc rDrn'n ol Lhe

(onringefr l.iabi ilieslrt Ll $ oscd b) \.) olnot.s olxc..0i6ConriDgeDr Asscls a c ncirh.L Bosnized nordiscloslrl n r r ,inaiciaL etenreDrs.

B!5| elm nls n$ share xrc.xL.u dled h) dnid n! lhc rcr pr.fir . los lf the p.rioJdl!ihul!6lcloequi{tshrrchold.,s(rnc.dcJuctn,glrtibul!ble!a\.rb)rh.*.ighr.JN.rrgcnuDrber ol {ur) drarcs otrtstx Ling duri'rg the fetud lhe seighrsd rre.xge itrmh$ oIcqu r\ \lurcs orsl!fdi'rE durin! the p.rtud is dl tr{.J ,nr.\c s s0ch is borur i\sue. botrusclcrnc in r.lgh( n\ue. J[rr! !flil. ofdre!crse sharc sp ir (cotrsoldarion olnraren thd hrtdc[orled ]c runhcr .l equnr \hr.es oBlxndi'r8. \ithod r corcrpond ng drailc tr

k) \liscclkneous erpenditurcNlis..lhreoui e\p.ndntrrc i\ trrilren otf& rhe ltolir & .$.ccounl !s rnJ $h rhc\ rre

2. !.9!s!&I!!i!sJ3r!-cl-4s.qs!l!

1,r Thc.!npaiy d.cs nol h$e rlre poli.t oletrcrshnreDr ollea\c and hcnrc no Pr*itlonLs trule lor li,hilhi.s ol ,lrnotr.nr hcrefiN lhc eite( ol thc lime crn nol be

quanr lied. lo th.t d\r.nr Pr.iit tot (he )ca. rnd balarcc ol protir & 1G5 mouil i\

(h) lhe compu) hd in\e{eJ rn xil.unr ollis. 12.6{.0r2 in lhe !har.s o1 .$ociilcs 0nd

r pL.vision ismade lnrdLm n0rioi trthcralucoflNcshefl

(o \oprc\lsion h!5 bren made lo dotrblliLl\urdr! dchro\olli: ll09l lac & dotrbrltrlrJ\rm. ol l{:. lqll lxc\ e\.eedii! si\ nronhs xs rhc conrpan) 5 nrhcp(x.s!oliD I arir-r.raiLable rccourse rgiin$ rhe slid dchr.r and thc con,pan) n hopcii oflhe

() ln \ e\ 01 1[e non-!\i ]rbi il\ ol dr Mnk ialrmcnr ft, bxnt xccotrrl baLanle \i$6rn( !,r\ubied oconfirni(nnr & re.omilid on \iLlbc u.de o eccinr olrhe \xfre

(.) l{clarel l'r(! Disclo e:

1. ftr_ rtunneeri,l PeBonncli) Vilir R P.rlhi I sl,x i,i v Prrlkl,

,- Rclafir ofKcr Ilxnas.nrcnt PerosonelPtr fabcn Puikh

3- Trxns,.rbn \i.h rehtd p! ies

Puslrpaben Rs s1.000Vi',i!Porikh Rr l8-000

x ,\ddtnrni inl..ndnnr ptrAr.m 6 rhc pro\(ioi ol0 xJC&lDolPxdll ol'S! relule \ l!llhq (oNpxtriA l\d.2l)ll

toll i t0 t:l. t.li) Lic€DseJ alrpr.irl N A. N Aii) lnshlLed Caprci(! N.A N.A.

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Dchik regardin!{ockarcmadeTh," arnounr.em ned du. ng rhc

('ll \nlue ol i'nponr n \ll.E\p.nd trnt r lnr.isD rtr.oDrl

avaiLlbc h! lhe comp,njlear in lorcign cutunries on a.coutrt

Frmings ir forcigr.\drangc s l.Ots Rt.08.,165.158

PirlicDlrr\ of PrtdcDr nldc to Audito6:

P,rriculrr! 20lJ-15 2013J{]\od l!c.s 7i000' 58000

P3rricul!K of P!rmenl mrde to ar!n.h Audirors:

I'lrlictrlars 20ll 15Atrtlil Fecs lill.l '

.. Prrti.uhB or l'ar .nrn,d.r. Dirc.ronl

20t3-ll

i4.L

!0tJ-l,l

lor lrladhnr lnduslrics LiDitcd

sd/. sd/.

\ inir Pnrikh Sh,lin P,rilh

20r.r l5

lhc harnces slntr\n i'r drc BrLan.r sh.cr uder rhe head ol uis.orrcJ Loris.crcdir.6. Deblr and Lorrs .nd Ad\nces.rc cxch subjcct ro coniiflnallon flurespeclivc par es.nd xrt \ubi!( ro ld.i,'nrncft lraf). on rec.lI]iorconftmrlion

Ihe conrp.ny lms nor .e.ened an\ i i'ntuon f.o'n nLpnlic6 regodi,U ficn nrlusundcr NjcN rn,l \led 1 n Enrcfrnc Der.l.tnenr r\uL. 2006 rnd hen.c d \cnxtrr..lanJ_. rclar0g to ltu ruouia unprd xs r1 )eJ enJ tlgerhe. $ilh iitrcr

priJrpi\ihlc !s required 0trd;r1h. sriJ r\u hrvc ior b..n gncn.

The ligufts ol rh€ frevious rcar have heen rcamtrEcd ud.c3.orEd \herelercoDsiJercd treccssa^ $ a!ro$r,irh 6rh.ctrtrenr\elrclanl,iclion.

Dl:'r: 001915:l DIN 0lll).1i06Placc :1h'neJxbrd

Ditc : Nlal 10.l:015

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MADHUR INDUSTRIES LIMITED

REqistETCd OffiCEI MAD HAVPU RA MARJ(ET, SHAI I IBAC ROAD AHMEDANANcorporar€&administrationoffice; I{ADHURc0MpLEx,sTADlu[1 cRoss RoaD

NAVRANCPURT\,AHMEDABAD 33OOO9

ATTENDANCESLIP

Nanre olthe atte0ding Member (1D Blo.k t.ettErslFoLrn N./ DPID/C re tttrNanreolthe Proxy

[TobeiilLedin itheProxy.rttndsrnsteadotth.Nlenrtrcr]

I hereby rc.ord nry prese..c ar Annual Ccneral MeetinE oI thc Cornp.fy MADHURCOMPIEX, STAD]Ui\1 CROSS ROAD, NAVRANCPURA AII[4EDABAD - 3OO()l]9 ONiIIcdtresd.y, 30,d:yolSept.,nbe. 2015 andataiyadjournNdntnrcrcof

siAn,ture oisha.cholder / Prorv


Form No. MGT,1l

PROXYFORM

[Pu\uont ta edior 10s(6) al rhe a npantes An, 2al3 and tule19r3],/rrecompanjes[[4.n]scrneDt and Adnilistmtiorl Rutcs, 2014/

ctN 151909C11973PLCo02252

Nire of dre.ompanv MADHUR INDUSTRIES LIMTTED

Regisi€Ted oMce MAD HAVPU RA ]\1A II KET, sH,IH IBAc RoAD, AHM EDABAD

Corporrte & Adnrinisrarion office: lilADttUn COMpt,EX, STADTUM CROSS ROAD,NAVRA NCPU R]1, AH IiI EDABAD 33OOO9

&,r9 "l!r! rtr!-b!(!L 1t LR.gistered address

Fjllglllltjeit td _

I/wc, IciiCthenrcnrbe' [s] oi.. .. . shires ofrheabovc nrnred comp.ry, hercbv aDroijrl

2 Nare, . , .......... .....

Sigmtu.e: ...........

As my/our proxy to arerd an(lvote lon J lotrl fo. nF/us an.l on hylour behaltat AnnurtCEneral Mecting otthe aompaly, ro be hetd on wednesday,3o,h day otSeptember,20t5 At9:00A M at MADHUR COM pl,EX, STAD tul\'t CRoSS ROAD, NAVRANCpltRA, A!MEDABAD -330009 and at any !{ljouDmeht thercof in resped ol such r.esolurjons as are indi.Jted

MADHIIR INDIISRIES I,IMITEI)

RESOLUIION fOR AGAI\ST

Adoption ol Balan.c Shcct, Statcment ol Prolit and1. l,oss, Report of the Borkt ol Directors JnLt Auditors

!qrthe Inan.ialyear cndcd ]tiar.[ 31,20]tAtfonrt'nent of r director in ph.e ol MRPARIKH [nlN 004q]5001 \ho renres byand beinE eligible, seeks r!-appointnremApfonr'nent ofM/s v.s MANWANT&co. CharlsredA.countants (NlembershiF N! 162129) as theStrtutorv AtrditoB ofth. CoilDany tor a consocrtive

MRS, BHAVNA ]\4EIITA (DIN:lrdeDendeDt Dire.tor wcf 30tr,

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NY (DIN

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N .il,

Payment ofMinaEenal Rcmuneration to NiR. SHALINPARIKH, D rectoroithe company (DlN: 004945061 ofRs. 30,000/ pn o. rs mry bd

'nrtualLy aEre.d

LeNveen Boa .J Dire.tors or dr. aoinprny rnd I1R.SHALIN PABI(H w.e.t 1.:Ap' i1,2015

SLsned tl,ls dayof...... .,2015.

SiEDatrtr. ol Sharehol{ler

Sishaturc of Proxv holderGl

Note: This rorE of proxy in order to be efective s[ould be duly completed anddrposit€d at the Regist€red Omc€ oI the Company, not less tlran 4a hoursbefore thc coEnrencement of dre Meetins.


Form No. MCT- 12

polline paper

lthsuont ta sectia l0e(S)olthecotnpaniesAct,2013andRute21(1)@oftheConpanres[Man ao en ent o nn Ad ni ni stto ti.n ) R u I e5, 2 a 1 4 ]

NJrnc of ihe tompany: MADHUR INDUSTRIES LIt\4tTIDRcBiste.ed ollicc, MADIIAVPURA lljARKET, SHAHIBAC ROAD, AHMEDABAD

CoDorate&Arlniinistratjoh Officc: MADHURCOMPLEX,STADIUM CROSS ROAD,NAVRANCPUAA, AHMEDABAD - 3AOOO9

Nanre of the First Nanr.d Shrrphokler

Rcsistered foljo No. / lClient lD No

[lAppli.able to itrvcstors holdirsnrares in dcnrrterialLzed fo.n,

1.

I l.-Pby, 1,',e n.\ Lor-i1'c.pe!r { O' hr. r\ +ql Dc n, I'or.,en-n.p . e optoLub!", d '91j...,'.o'or.i r'.r,e..rdrp or."o..'

'0, t,tl, vrnl n rr 1

sr. Particulars ot lt€m rv.."r r-sfrr-rar*r ]No shares h€ld the rrom th€

by me resolution rcsulution

L AdoptioD of Balrncc Shedt,Pront and Loss, Report ofDnd.trs !nd Auditor\ fo'IdJr.rdcd Marc| 31,2015

2 Appointnrcnt ofa Dire.ior in place ol NIR.


L(DlN:07002645

NIRS BHAVNA MEHTA

5

the conrpany (DlN, ooaqas21l of Rs75,000/ pm or .s hry be nutuallylerc.d ben een Board ot DLrectors olrreLun p.,vrnd []n \lNll PAFthH n et t,Ap41,2015.

6 Prldcnt nl MJn.LC.r.r Rcmune'Jnnn t.MR. SHALIN PARI(H, Diredor of thecoinFJny (DIN: 00494s061 ol Rs30000/- !.m. or.s mxy be mutunllt.r3 .Ld hehrepn Bo rd oi Drrcftol I I rh.runrp n! rnd MR 5lllLlN PARI]{H \ .l1,April,2015

S Eniiure ofrhe shareholder

MADHIJR INDUSRIES I,IMITED

ROUTEMAPTOTHEVENUEOFAGM:

MAI'IIIlP INI'I]ITRlFS 1 'MITFNr\lAD URCOIllPLEX,

sl,10rLrM cRo55 RoAD\AVRANCPURA,AIIIIEDABAD 33OOO9

[Previously rcAistered as MADBUR FOOD PRODUaTSLIMTTEDT