Several ordinary business regarding adoption of audited balance sheet, declaration of dividend, appointment and re-appointment

Question 21
Fifth Annual General Meeting of the shareholders of Devrishi Limited was held on 20
August, 2009 at its registered office at Mumbai. 55 shareholders attended the meeting in
person and 6 shareholders in proxy. Several ordinary business regarding adoption of
audited balance sheet, declaration of dividend, appointment and re-appointment of
directors and auditors were transacted at the meeting.Draft the minutes of the Fifth
Annual General Meeting of the shareholders Devrishi Limited. (November-2009)
Answer
15. Minutes of the 5th Annual General Meeting
Fifth Annual General Meeting of Devrishi Ltd. held on 2oth Sepember,2009 at 11 A. M. at
25 Devrishi Apartment, Andheri East, Mumbai,
Present:
1. Shri Devrishi M. D. in the chair
2. Shri X Director
3. Shri Y Director
4. Shri Z Director
5. Shri T Director
6. Shri R Director
7. Shri Alok, representative of Alok & Co. Chartered Accountants
8. Shri S., Secretary of the company
55 shareholders attended the meeting in person and 6 shareholders in proxy.
1. Notice:
The notice convening the meeting was read by the Secretary of the company.
2. Directors’ Report and Accounts:
With the consent of the members present, the Director’s Report and Accounts having
already been circulated to the members were taken as read.
3. Auditors’ Report:
The Auditors’ Report was read.

4. Adoption of Directors’ Report, etc.:
The chairman explained the progress achieved by the company during the year under
review. The Chairman thereafter invited queries from the members present on Directors’
report, Annual Accounts and Auditor’s Report. All the questions raised by the members
were suitably replied by the chairman. Thereafter, the Chairman proposed the following
resolution which was seconded by Mr. X and Mr. Y.
“Resolved that the Directors’ Report, Audited Balance Sheet as on 31st March, 2008 and
Profit and Loss Account for the year ended 31st March, 2008 and Auditors’ Report
thereon be and the same are hereby received, considered and adopted.”
Carried unanimously.
5. Dividend:
Proposed by Shri Devrishi M.D and Seconded by Mr. X and Mr. Y Directors.
“Resolved that the Dividend as recommended by the Board of Directors for the year ended
31st March, 2009 at the rate of Rs. 5/- per share on the equity share capital of the
company, subject to deduction of tax at source be and is hereby declared for payment to
those eligible shareholders whose names appear on the Register of Members as on
……………. 2009, the record date for payment of dividend.”
Carried unanimously.
6. Directors:
Proposed by Mr. X and Seconded by Mr.Y.
“Resolved that Shri Z who retires by rotation and is eligible for re-appointment to and is
hereby re-appointed a director of the company.”
Carried unanimously.

7. Auditors:
Proposed by X Director of the Company.
Seconded by A, B Shareholders of the Company.
“Resolved that M/s Alok & Company Chartered Accountants, be and are hereby appointed
Auditors of the Company to hold office from the conclusion of this meeting until the
conclusion of the next Annual General Meeting at a remuneration of Rs. 50,000/-“
Carried unanimously.
The meeting closed with a vote of thanks to the Chair.
Dated: 20th Sepember, 2009                                                             Sd/
                                                                                                   Chairman