WEBVTT 1 00:00:06.740 --> 00:00:08.100 HPCL: Good afternoon. All. 2 00:00:08.230 --> 00:00:22.659 HPCL: I'm Hinashah, secretary of HpcL biofuels Limited. Joining this meeting from Mumbai. I'm able to see and communicate each one who has joined this meeting through Vc. And first of all, I'll thank you all for joining this meeting at short notice. 3 00:00:22.840 --> 00:00:30.400 HPCL: and the meeting is scheduled at 3, and we are close to 3, so, with your permission, can we commence with the proceedings? 4 00:00:31.560 --> 00:00:35.180 HPCL: As for Article 95 of the articles of association of the company. 5 00:00:35.510 --> 00:00:42.160 HPCL: The Chairman of the Board presides over the all general meetings of the shareholders as a chairman of the general meeting. 6 00:00:42.220 --> 00:01:01.539 HPCL: So we'll request Mr. S BHARATHAN to chair the meeting. Yeah. Good afternoon. All I am. S Bharathan, chairman of Board of Hpcl. Biofuels. Limited. Welcome all the shareholders to this Fourteenth Annual General meeting of the company. Now I'll request the Company Secretary to continue the proceedings of the meeting. 7 00:01:02.060 --> 00:01:08.399 HPCL: Dear shareholders, as you are aware. in line with the circular issued by Ministry of corporate affairs 8 00:01:09.630 --> 00:01:16.349 HPCL: to convene the genral meeting through video, conferencing, and other audio visual mode till 30th September 2023, 9 00:01:16.360 --> 00:01:27.409 HPCL: and therefore this meeting meeting is conveyed through video conferencing in accordance with the guidelines issued under the MCA circular. today. We have here Mr. Bharathan. 10 00:01:27.500 --> 00:01:31.859 HPCL: the chairman board, and the shareholder of the HPCL Biofuels limited. 11 00:01:31.890 --> 00:01:37.570 HPCL: We have Mr. R. Sridhar, who's a director and a shareholder 12 00:01:38.030 --> 00:01:42.939 HPCL: then we have Mr. Alok Gupta, who is representing HPCL. 13 00:01:43.370 --> 00:01:45.180 HPCL: The parent company. 14 00:01:45.540 --> 00:01:49.799 HPCL: We have Saurabh Maheshwari, who's shareholder. 15 00:01:49.960 --> 00:01:50.930 HPCL: We have. 16 00:01:51.120 --> 00:01:58.519 HPCL: Mr. K S Balaji shareholder, and we have Mr.Prakash kumar, CFO. 17 00:01:58.680 --> 00:02:07.869 HPCL: Now I request the participants who have joined through Vc. To introduce themselves one by one, and confirm that they are able to communicate with us. 18 00:02:09.009 --> 00:02:11.140 HPCL: Shuvendu, sir. 19 00:02:11.540 --> 00:02:21.390 Shuvendu Gupta: Good afternoon. I'm joining this meeting from Pathmeda Rajasthan. 20 00:02:21.540 --> 00:02:23.090 Shuvendu Gupta: I'm able to 21 00:02:23.140 --> 00:02:27.049 Shuvendu Gupta: see calls, and I'm able to communicate with all clearly. 22 00:02:27.380 --> 00:02:29.479 Shuvendu Gupta: I'm able to hear everything 23 00:02:29.660 --> 00:02:30.320 flap. 24 00:02:30.650 --> 00:02:33.529 HPC_PATNA_BIO-FUELS_CEO_OFFICE: Thank you, sir. Braniza. 25 00:02:34.580 --> 00:02:55.349 HPC_PATNA_BIO-FUELS_CEO_OFFICE: Good afternoon, everybody. I am Pranay Kumar. I have Join this meeting from patna along with me. Statutory auditor, Mr. Rajesh Kumar is present. Rajesh. Good afternoon. Everybody. I'm Rajesja from Thakur Bhuvnesh and associates, and I am able to hear Luo 26 00:02:57.070 --> 00:02:58.419 HPC_PATNA_BIO-FUELS_CEO_OFFICE: back to enough. 27 00:02:59.250 --> 00:03:01.080 HPCL: Thank you. Thank you all. 28 00:03:02.110 --> 00:03:12.099 HPCL: So we have quorum for the meeting. So we'll proceed with the business. Yeah the link for the notice, Directors Report and 29 00:03:12.150 --> 00:03:16.060 HPCL: as soon as the statement directed Report were already been sent to the members. 30 00:03:17.700 --> 00:03:20.850 HPCL: The statutory auditor is present at the meeting. 31 00:03:21.660 --> 00:03:29.349 HPCL: and Miss Sujata Londhe, the director. She is not able to join this meeting, due to personal exigency Mr. Goud Sridhar is on 32 00:03:30.260 --> 00:03:42.489 HPCL: is on official, tour, and sought Leave of absence from attending this meeting, the authorized representative of HPCL. Michella Gupta is present, representing 99 from 99% of shares 33 00:03:43.390 --> 00:03:49.940 HPCL: as per the Mca circular. As stated in the Northeast as well. No person is allowed to appoint proxy. 34 00:03:51.010 --> 00:03:58.230 HPCL: secretary, auditor, and cost auditor has requested for leave of absence due to their schedule official engagements. 35 00:03:58.820 --> 00:04:13.499 HPCL: The 11 documents relating to the proposed resolution, statutory register, and other 11 documents may be inspected via email to the company secretary during the continuation of the meeting. Since the notice of ATM Directors report 36 00:04:13.960 --> 00:04:22.820 HPCL: has already been circulated to the members. Shall we take the notice and direct this with report as read. Thanks, Jay. 37 00:04:23.010 --> 00:04:23.850 Yes. 38 00:04:25.880 --> 00:04:39.319 HPCL: Now presentation on the auditors report. So the statutory auditors report have no qualification or adverse remark. However, we have received a comment from Cnagi. I'll read that out. 39 00:04:41.120 --> 00:04:54.509 HPCL: Comment from Controller Auditor General of India under section 143 subsection, 6 B. Of the Company's act, 2,030. On the financial statement of Hpc. By first Limited for the year, ended 30 first March. 40 00:04:54.650 --> 00:05:06.569 HPCL: the preparation of financial statements of HTML, first Limited for the year, ended 30 first March 2,023, in accordance with the financial reporting framework prescribed under the Companies Act 41 00:05:06.770 --> 00:05:09.400 HPCL: is responsibility of the management of the Company. 42 00:05:09.810 --> 00:05:17.259 HPCL: The statutory auditors appointed by the Controller Auditor General of India under section 139, subsection. 5 of the act 43 00:05:17.420 --> 00:05:33.070 HPCL: are responsible for our expressing opinion on the financial statement under Section 143 of that based on the independent audit in accordance with the standards. On auditing prescribed under section 1, 43, subsection. 10 of that 44 00:05:33.840 --> 00:05:39.719 HPCL: this is stated to have done by them by their audit report, dated fifth May 2,023, 45 00:05:39.860 --> 00:05:52.620 HPCL: I. On behalf of CN. Ag. Have conducted supplementary audit of the financial statement of HP. Cl Biases, limited for the year ended 30 first March. 46 00:05:52.660 --> 00:06:14.260 HPCL: under section 1, 43, subsection, 6 e. Of that the supplementary audit has been carried out independently, without access to the working papers of the statutory auditors, and is limited primarily to inquiries of the statutory auditors and Company personal, and a selective examination of some of the accounting records 47 00:06:14.330 --> 00:06:16.449 based on my supplementary audit. 48 00:06:16.690 --> 00:06:33.829 HPCL: I would like to highlight the following significant matters, under section 1, 43, subsection, 6 b. Of that which have come to my attention, and which, in my view, are necessary for enabling a better understanding of the financial statement and related audit reports. 49 00:06:34.510 --> 00:06:44.780 HPCL: There are 2 comments, first, on comment on profitability. employee benefit expense, not 29 for 31 57 legs 50 00:06:45.170 --> 00:06:58.579 HPCL: double does not include areas of 6 57.54 lax on account of wage division of seasonal employees for the period, October 2,018, to March 2,023. 51 00:06:58.840 --> 00:07:01.740 HPCL: The areas where payable in accordance to the 52 00:07:02.160 --> 00:07:16.990 HPCL: government of Bihar memorandum, dated twentieth September, 2,022. Since memorandum was issued in September 22. Provision for areas on account of wage revision payable for the effective date was required to be made 53 00:07:17.140 --> 00:07:32.129 HPCL: non provision of wage revision areas payable to seasonal employees as resulted in understatement of employee, benefit expenses and loss by 6 57 lex point 56 67.54. Lex 54 00:07:33.480 --> 00:07:36.560 HPCL: command number 2 on disclosure. 55 00:07:38.490 --> 00:07:47.780 HPCL: remaining contract, contingent, laboratory and management, remuneration, etc. Claim against the company. Not acknowledges depth not 54 56 00:07:48.020 --> 00:08:10.410 HPCL: double does not include some of rupees, 1, 86, 1, 87. Lex. Towards the demand. Notice of certificate data received from certificate data during the year 2,02223. The demand notice of the certificate officer should be considered as claim, and the same should have been included in the claim against the company not acknowledges that 57 00:08:10.630 --> 00:08:22.269 HPCL: non inclusive of the above amount, has resulted in understatement of claims against the company not acknowledged as debt amount 1 86.87 legs 58 00:08:22.680 --> 00:08:30.370 HPCL: for and be for and on behalf of Con Controller, Auditor General of India. Us. Prashard, Deputy Director Audit, Steele. 59 00:08:30.380 --> 00:08:38.020 HPCL: Patna Ranchi Place Ranchi at Patna, 14 July 23, 60 00:08:38.309 --> 00:08:49.530 HPCL: and management response to the first command on Employee Benefit Expense Company is in process of assessing barriers on account of wage revision. 61 00:08:49.610 --> 00:08:54.219 HPCL: Once the assessment is completed, necessary counting fact will be taken in due course. 62 00:08:55.830 --> 00:09:00.300 HPCL: Next one. On remaining contracts and contingent liability 63 00:09:01.280 --> 00:09:04.090 HPCL: claim against the company or technology's debt. 64 00:09:04.270 --> 00:09:22.360 HPCL: The presentation has been given to the State Government through Bisma bihar Sugar Mills Association and relief has been shown through competent code method being subsidized and, if not withdrawn, will be disclosed the same in the financial year 2324 as contingent Library. 65 00:09:23.450 --> 00:09:35.889 HPCL: and which is covered in the as a part of directors report. And, Sir Secretary Auditor does not have any qualification or adverse remark. So with this. Can we take his auditors report as read. 66 00:09:36.240 --> 00:09:38.359 HPCL: Thank you. 67 00:09:40.500 --> 00:09:43.629 HPCL: No request. 68 00:09:44.250 --> 00:09:46.530 HPCL: Good afternoon. Once again, ladies and gentlemen. 69 00:09:46.540 --> 00:09:56.690 HPCL: it's a great honor and privilege for me to welcome you all on behalf of the Board of Directors to the Fourteenth Annual General Meeting of HP. L. Biofuels Limited. 70 00:09:56.970 --> 00:10:20.399 HPCL: During the year. The physical performance as a registered and overall improvement in terms of total crane crushed the total ethanol and power export as compared to the previous years. Income from operations increase to rupees, 2 98 crores from rupees 220 growth. Looking forward, we are going for a multi-feed distillery multi feedery project. 71 00:10:20.610 --> 00:10:31.319 HPCL: The operations will no go towards round the clock around the year. Operation hopefully, that will improve the finances of the company. Further 72 00:10:31.470 --> 00:10:39.819 HPCL: projects on pollution control related complaints are also in full swing. Your company has been able to retain 73 00:10:39.910 --> 00:10:46.100 HPCL: stable credit rating in credit evaluation done by India ratings and research Pitch Group Company. 74 00:10:46.290 --> 00:11:04.309 HPCL: Your company always laid special emphasis in conducting its business in a transparent manner. With the framework of policies. The focus is on good corporate governance practices, ethics, fairness, and accountability to enhance stakeholders value and to build an environment of trust and confidence. 75 00:11:04.490 --> 00:11:13.040 HPCL: Before I conclude on behalf of the Board of Directors of the Company, I would like to tang HPCL 76 00:11:13.140 --> 00:11:22.240 HPCL: State Bank of India, the various other stakeholders for their excellent support received during the year, and we look forward to your continued association. 77 00:11:22.470 --> 00:11:26.080 HPCL: I sincerely thank all our employees for their commitment. 78 00:11:26.110 --> 00:11:30.570 HPCL: hard work, and contribution to the Company's improved performance. 79 00:11:30.720 --> 00:11:36.220 HPCL: I also take this opportunity to thank my colleagues on the board for their mature counsel. 80 00:11:36.430 --> 00:11:42.069 HPCL: Mr. Vinod Shenoy, who ceases to be the director effective first October 2022. 81 00:11:42.270 --> 00:11:53.430 HPCL: With every challenge we have grown more resilient and determined to succeed with this words, I would like to extend you all good wishes for the year to come. Thank you. 82 00:11:56.850 --> 00:12:06.489 HPCL: So with this will commence with the business, given in the notice of AGM. We still now consider the various items set out in the notice convening the Fourteenth Annual General Meeting 83 00:12:06.510 --> 00:12:20.929 HPCL: Before I put the resolution to VOTE I would like to ask the members if they have any queries on financials of the company. For the year ended 30 bus 2,023 CEO. Cfo. Shall clarify the queries from the members. 84 00:12:21.890 --> 00:12:22.680 Yeah. 85 00:12:22.800 --> 00:12:26.130 HPCL: we 86 00:12:26.440 --> 00:12:33.230 HPCL: we now pick up the ordinary business number business. Item number one of the notice regarding adoption of Audited. 87 00:12:34.810 --> 00:12:36.610 HPCL: That's enough audit 88 00:12:36.730 --> 00:12:57.860 HPCL: financial statement of the company for the financial year ended 30 first March 2,023, together with the both report and report of the auditors thereon, and the commands of the Controller or Digital General of India in terms of Section 1, 46. Subtraction, 6 of the Company's act, 2,030. Now I request the members to propose, and second, the resolution, please. 89 00:12:57.870 --> 00:12:59.440 HPCL: I propose the resolution. 90 00:13:00.600 --> 00:13:02.799 HPC_PATNA_BIO-FUELS_CEO_OFFICE: I second the resolution. 91 00:13:04.140 --> 00:13:08.460 HPC_PATNA_BIO-FUELS_CEO_OFFICE: Those in favor of the resolution. Please raise their hands 92 00:13:09.620 --> 00:13:10.770 HPCL: so much 93 00:13:11.130 --> 00:13:18.439 HPCL: to us. Okay, now, I declare the resolution carried out unanimously as ordinary resolution. 94 00:13:19.540 --> 00:13:43.009 HPCL: We now take up item number 2 of the notice regarding reappointment of Ms. Sujata Londhe, who retires by rotation, and is eligible for reappointment as a director as per Article 122 of articles of Association of the company. Now I request the members to propose, and second, the resolution, please thank you. Those in favor of the resolution may please raise their hand. 95 00:13:46.040 --> 00:13:51.450 HPCL: Thank you. I now declare the resolution carried out unanimously. 96 00:13:52.570 --> 00:14:15.000 HPCL: We now take up the item number 3 of the ordinary business of the notice regarding authorizing the Board of directors to fix the remuneration of statutory auditors for the financial year 2,02425. Now I request the members to propose, and, second, that resolution, please thank you. Those in favor of the resolution may please raise their hand. 97 00:14:18.910 --> 00:14:20.000 HPCL: Reneezal. 98 00:14:21.530 --> 00:14:29.190 HPCL: Thank you. I now declare the resolution carried out unanimously as ordinary resolution. 99 00:14:29.600 --> 00:14:55.109 HPCL: Next item on the agenda, special business. Item number 4. Notice regarding regularization of additional director at the Agm. Gupta, who appointed by the Board as additional director of the company, with effect from Fourth October, 2,022, in terms of Section 1, 61 of the companies at 2,013, an article 121 of the article of Association of the Company, Mrs. Shawandu, Gupta hold's office 100 00:14:55.330 --> 00:15:08.430 HPCL: up to the date of this annual general meeting and Company has received a notice from a member in writing under Section 160 of the Companies Act 2,013, proposing his candidature for the office of director. 101 00:15:12.330 --> 00:15:19.849 HPCL: and is, he is eligible for appointment as a director of the company. I now request the members to propose, and second this resolution. 102 00:15:21.660 --> 00:15:22.510 the 103 00:15:23.150 --> 00:15:26.830 HPCL: voices. 104 00:15:27.320 --> 00:15:29.659 HPC_PATNA_BIO-FUELS_CEO_OFFICE: Sorry I what was there? A decision? 105 00:15:30.080 --> 00:15:31.290 HPC_PATNA_BIO-FUELS_CEO_OFFICE: Thank you. 106 00:15:31.850 --> 00:15:35.189 HPCL: Those in favor of the resolution may please raise their hands. 107 00:15:36.890 --> 00:15:38.090 HPCL: So, Nicola. 108 00:15:41.050 --> 00:15:42.430 HPCL: thank you. 109 00:15:42.530 --> 00:15:51.699 HPCL: Now, I declare the resolution carried out unanimously as ordinary resolution. Next item on the agenda is notice regarding 110 00:15:52.770 --> 00:15:57.670 HPCL: notice regarding regularization of Mr. Neelesh kuldhe Colby as a Director 111 00:15:57.910 --> 00:16:09.859 Mr. Keelesh Khulbe, who appointed by the Board as additional director of the Company back to twenty-seventh March, 2,023, in terms of Section 161 of the company is like 2,013, 112 00:16:09.870 --> 00:16:18.679 HPCL: Article 121 of the article of Association of the Company Office of Director, up to the date of this annual general meeting. 113 00:16:18.790 --> 00:16:32.750 HPCL: and the company has received a notice from a member in writing under Section 160, of the Company's act, 2,013, proposing his candidature for the office of director, and is eligible for appointment as a director of the company. 114 00:16:33.200 --> 00:16:38.510 HPCL: I now request the members to propose. And second, this resolution, please. 115 00:16:38.580 --> 00:16:39.859 HPCL: I propose this. 116 00:16:41.830 --> 00:16:46.089 HPCL: Thank you. Those in favor of the resolution may please raise their hands. 117 00:16:46.910 --> 00:16:48.559 HPCL: Thank you. 118 00:16:48.720 --> 00:16:52.780 HPCL: I declare the resolution carried out unanimously. 119 00:16:53.790 --> 00:17:06.870 HPCL: Next item next in the last item on the agenda ratification of payment of remanduration to cost auditors. That is, item number 6, of the notice regarding ratification of payment of remuneration 120 00:17:08.260 --> 00:17:16.119 HPCL: to cost about 55,000 to cost auditors. M/s. Deepak And associate cost accountant 121 00:17:16.450 --> 00:17:21.070 HPCL: for the financial year 2,02324. Now I request 122 00:17:21.730 --> 00:17:31.929 HPCL: members to propose, and second, the resolution please those in favor of the resolution may please raise their hands. 123 00:17:33.480 --> 00:17:37.800 HPCL: Thank you. I declare the resolution is carried out unanimously. 124 00:17:39.170 --> 00:17:43.620 HPCL: Thank you so much for getting out all the business now will request Mr. Pranay Kumar. 125 00:17:43.870 --> 00:17:45.970 HPCL: to express Vote of Thanks. 126 00:17:51.030 --> 00:17:57.010 HPC_PATNA_BIO-FUELS_CEO_OFFICE: Respected, sir, and Madam, on behalf of HPCL Biofuels Limited, and myself. 127 00:17:57.080 --> 00:18:08.830 HPC_PATNA_BIO-FUELS_CEO_OFFICE: I wish I wish to express our sincere thanks to board members for their enormous support and contribution in terms of time and effort to make things happen for HBL. 128 00:18:09.040 --> 00:18:20.060 HPC_PATNA_BIO-FUELS_CEO_OFFICE: And finally, I thank each and every shareholder present here for making it convenient to attend the Annual General meeting. Thank you all once again, and 129 00:18:23.310 --> 00:18:25.549 HPCL: I declare that the meeting is over. 130 00:18:25.940 --> 00:18:28.489 HPCL: Thank you, sir, thank you. 131 00:18:28.530 --> 00:18:29.770 HPCL: Thank you all. 132 00:18:34.420 --> 00:18:38.970 HPCL: Raney and Shwendu. Please continue.