Notice of 4th AGM & Resolutions for Deepak Houseware & Toys Ltd (Urban Tots)

​

Notice is hereby given that the 04th Annual General Meeting (“AGM”) of the members of Deepak Houseware & Toys Limited will be held on Saturday, November 30, 2024, at 02:00 p.m. (IST), through Video Conferencing/Other Audio Visual Means (“VC/OAVM”) to transact the following business:

Ordinary Resolution:

• Adoption of Financial Statements: The resolution seeks the members' approval to adopt the audited financial statements for the year ending March 31, 2024, including the balance sheet, profit and loss statement, and related notes. This is a routine item that ensures transparency and compliance in financial reporting.
• Reappointment of Mr. Deepak Chaudhary as Director: Mr. Chaudhary, retiring by rotation, is up for reappointment. This resolution, required by company law, is intended to confirm continuity in leadership, leveraging his experience to guide the company further.

• Appointment of Mr. Luv Chawla as Director: Mr. Luv Chawla, initially appointed as an Additional Director, is proposed for a regular appointment as a Non-Executive Director. This resolution formalizes his position on the board, bringing his financial expertise to enhance governance.

• Appointment of Mr. Karan Bhatia as Director: This resolution confirms Mr. Bhatia’s appointment as a Director, transitioning him from an Additional Director role. His background in sales and marketing is expected to contribute to the company’s growth strategies and market positioning.

• Appointment of Mr. Anmol Arora as Director: This resolution confirms Mr. Arora’s appointment as a Director, transitioning him from an Additional Director role. His background in sales and marketing is expected to contribute to the company’s growth strategies and market positioning.

Special Resolution:

• Approval of Borrowing Limits: This resolution grants the board the authority to borrow funds beyond the company’s paid-up capital and free reserves up to ₹50 crores. It enables the company to secure additional financing for expansion or operational needs.
  
• Appointment of Mr. Ankit Mittal as Whole-Time Director: With Mr. Mittal's experience as Operations Head, this appointment ensures strong operational oversight and management efficiency. His role is crucial to daily operations, helping the company achieve smoother workflows and higher productivity.
  
• Revision in Remuneration for Mr. Deepak Chaudhary: The resolution addresses a revision in remuneration for Mr. Chaudhary, reflecting his increased contributions as Executive Director. It aligns his compensation with his strategic role in the company’s development and expansion efforts.
  
• Designation of Mr. Deepak Chaudhary as Chairman & Managing Director: This appointment formalizes Mr. Chaudhary’s leadership position, reinforcing his role in guiding strategic initiatives and operational oversight. His experience is vital for maintaining growth momentum in the houseware and toys sector.
  
• Appointment of Mr. Anmol Arora as Whole-Time Director: Mr. Arora’s appointment is intended to strengthen management with his extensive sales and marketing experience. This resolution allows the company to benefit from his customer-centric approach, aimed at enhancing market reach and operational effectiveness.
  
• Appointment of Mr. Luv Chawla as Director: Appointing Mr. Chawla as a non-executive director, this resolution emphasizes strengthening governance with his expertise in finance, enhancing strategic decision-making at the board level.
  
• Appointment of Mr. Karan Bhatia as Whole-Time Director: The resolution proposes Mr. Bhatia's appointment as a Whole-Time Director for three years, with specific remuneration and terms. This supports sustained operational management, leveraging his market knowledge and experience.
  
• Creation of Charge/Mortgage on Company’s Assets: To secure financing, this resolution allows the creation of charges on the company's assets. This is critical for accessing larger loans while adhering to regulatory requirements.