Ref. No.: GIC-HO/BOARD/SE-5-AGM/170/2024-25 | Date: 26th September 2024 | |
To, | ||
The Manager | The Manager | |
Listing Department | Listing Department | |
BSE Limited | The National Stock Exchange of India Ltd | |
Phiroze Jeejeebhoy Tower, | Exchange Plaza, 5th Floor, Plot C/1, | |
Dalal Street | G Block, Bandra Kurla Complex, | |
Mumbai - 400001 | Mumbai - 400051 |
Scrip Code: (BSE - 540755/ NSE - GICRE)
Sub: SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations')
Regulation 30: Proceedings of the 52nd Annual General Meeting (52nd AGM) held on 26th September 2024
Dear Sir/Madam,
Pursuant to Regulation 30 read with Schedule III Part A of the SEBI (Listing Regulations) please find enclosed herewith proceedings of the 52nd AGM of the Corporation held on Thursday, 26th September 2024 at 3:00 p.m. through Video Conferencing (VC)/ Other Audio-VisualMeans (OAVM) for the Financial Year 2023-24.
You are requested to take note, the above information on record.
Thanking You,
Yours Sincerely
For General Insurance Corporation of India
Suresh
Kanubhai
Savaliya
Digitally signed by Suresh Kanubhai Savaliya
Date: 2024.09.26 17:23:56 +05'30'
Suresh Savaliya
Company Secretary &
Compliance Officer
Encl.: A/A
(भारत सरकार की कं पनी) | 'सरक्षाु ', १७०, जे. टाटारोड, चचचगेट, मबईुं ४०००२० |
General Insurance Corporation of India | ''SURAKSHA'', 170, J. Tata Road, Churchgate, |
(Government of India Company) | Mumbai 400020. INDIA Tel: 91-22-22867000 |
CIN: L67200MH1972GOI016133 IRDA REG NO.: 112 | FAX Server: 91-22-229899600, www.gicre.in |
E-mail: info@gicre.in |
PROCEEDINGS OF THE 52ND ANNUAL GENERAL MEETING (AGM) OF THE CORPORATION UNDER REGULATION 30 OF THE SEBI (LISTING OBLIGATION AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
The 52nd Annual General Meeting (AGM) of Members of the General Insurance Corporation of India was held on Thursday, September 26, 2024 at 3:00 p.m. (IST) through Video Conferencing (VC) / Other AudioVisual Means (OAVM).
Shri Ramaswamy Narayanan, Chairman and Managing Director of the Corporation chaired the proceedings of the meeting. He welcomed the Members attending the meeting through VC/OAVM.
The Chairman informed that the requisite quorum was present and declared the meeting to be in order. Members of the Board and other Senior Management who had joined the meeting through VC introduced themselves and the Chairman informed that Key Managerial Personnel, Nominee of President of India and representatives of Joint Statutory Auditors, Secretarial Auditor and Scrutinizer were also present through Video conferencing.
On Chairman's request, Mr. Suresh Savaliya, Company Secretary, informed the Members about regulatory provisions and with the permission of the Members, the notice of AGM was taken as read.
The Company Secretary further informed that there was no qualification in the Statutory Auditors' Report on the annual financial statements of the Company and in the Secretarial Audit Report for the financial year ended 31st March 2024, the same were taken as read with the permission of the Members present.
It was informed to the Members that the Statutory Registers and other relevant documents were available in electronic form for inspection during the meeting.
The Chairman then delivered the speech covering inter-alia, prevailing challenges faced by global economy including pandemic and geopolitical tensions, financial performance of the Corporation, opportunities, risks, strategies, macroeconomic and industry overview, future outlook etc.
Thereafter, on the Chairman's request, the Company Secretary read out the Comments of Comptroller and Auditor General of India (C&AG) and Management's Reply to the same.
The Chairman further continued with the proceedings of the meeting. The following business were transacted at the 52nd Annual General Meeting:
Item | Particulars | Type |
No. | ||
Ordinary Business | ||
1. | To receive, consider and adopt the Audited Financial Statements | Ordinary |
(Standalone & Consolidated) of the Corporation for the financial year ended | Resolution | |
31st March 2024 and the reports of the Board of Directors and the Auditors | ||
thereon. | ||
2. | To declare dividend of ₹10/- per equity share for the financial year 2023-24, | Ordinary |
as recommended by the Board of Directors. | Resolution |
(भारत सरकार की कं पनी) | 'सरक्षाु ', १७०, जे. टाटारोड, चचचगेट, मबईुं ४०००२० |
General Insurance Corporation of India | ''SURAKSHA'', 170, J. Tata Road, Churchgate, |
(Government of India Company) | Mumbai 400020. INDIA Tel: 91-22-22867000 |
CIN: L67200MH1972GOI016133 IRDA REG NO.: 112 | FAX Server: 91-22-229899600, www.gicre.in |
E-mail: info@gicre.in |
- To authorize the Board of Directors to fix the remuneration of the Joint Ordinary Statutory Auditors appointed by the Comptroller and Auditor General of Resolution India (C&AG) for the financial year 2024-25.
- To appoint a Director in place of Shri Ramaswamy Narayanan, Chairman Ordinary and Managing Director (DIN:10337640), who retires by rotation and being Resolution eligible, offers himself for reappointment.
Special Business
5. Appointment of Shri Hitesh Rameshchandra Joshi (DIN: 09322218) as Ordinary
Executive Director of the Corporation. | Resolution | |
6. | Appointment of Ms. Radhika C. S. (DIN:10703999) as Executive Director of | Ordinary |
the Corporation. | Resolution |
The Company Secretary then informed the members about the commencement of e-voting. On invitation of the Company Secretary, Members who had registered themselves as speakers spoke during the AGM and raised queries including performance of the Company, future outlook, prospects etc.
The Chairman noted the suggestions and replied to queries of the Speakers and reminded the Members about availability of the facility of e-voting upto 15 minutes after the conclusion of the meeting for the members who have not cast their vote through remote e-voting.
The Chairman further authorized the Company Secretary to receive the Scrutinizer's Report and to declare the results on the resolutions put forth in the notice convening the AGM. The Chairman also informed that the consolidated voting results would be disseminated to the Stock Exchanges and subsequently be available on the Corporation's website and NSDL's e-voting website within stipulated timeline.
The Chairman proposed vote of thanks and then announced that the meeting was concluded. Accordingly, the meeting was concluded at 04:18 p.m. (IST).
For General Insurance Corporation of India
Suresh
Kanubhai
Savaliya
Digitally signed by Suresh Kanubhai Savaliya Date: 2024.09.26 17:24:10 +05'30'
(Suresh Savaliya)
Company Secretary &
Compliance Officer
(भारत सरकार की कं पनी) | 'सरक्षाु ', १७०, जे. टाटारोड, चचचगेट, मबईुं ४०००२० |
General Insurance Corporation of India | ''SURAKSHA'', 170, J. Tata Road, Churchgate, |
(Government of India Company) | Mumbai 400020. INDIA Tel: 91-22-22867000 |
CIN: L67200MH1972GOI016133 IRDA REG NO.: 112 | FAX Server: 91-22-229899600, www.gicre.in |
E-mail: info@gicre.in |