PRIVI SPECIALITY CHEMICALS LIMITED Annual Report 2020-21

30 PRIVI SPECIALITY CHEMICALS LIMITED (Formerly known as Fairchem Speciality Limited) We have also examined compliance with the applicable clauses of (i) the Secretarial Standards issued by The Institute of Company Secretaries of India under the provisions of the Companies Act, 2013, and (ii) the Listing Agreements entered into by the Company with BSE Limited and The National Stock Exchange of India Limited. During the financial year under report, the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above. We further report that: The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. The changes in the composition of the Board of Directors that took place during the financial year under report were carried out in compliance with the provisions of the Act. Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting. None of the members have communicated dissenting views, in the matters / agenda proposed from time to time for consideration of the Board and its Committees, during the year under report, hence were not required to be captured and recorded part of the minutes. We further report that there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines. We further report that during the year under report, pursuant to the Composite Scheme of Arrangement and Amalgamation (‘Scheme’) under Section 230 to 232, Section 66 and other applicable provisions of the Companies Act, 2013 for: a. Demerger of Demerged Undertaking of Fairchem Speciality Limited (FSL or Demerged Company or Transferee Company) into Fairchem Organics Limited (FOL or Resulting Company); and b. Amalgamation of Privi Organics India Limited (Privi Organics or Transferor Company) with Fairchem Speciality Limited, the name of Fairchem Speciality Limited (the Company) has been changed to Privi Speciality Chemicals Limited. Except above, there were no event/actions which had a major bearing on the Company’s affairs in pursuance of the rules, regulations, guidelines, standards, etc. For RATHI & ASSOCIATES COMPANY SECRETARIES HIMANSHU S. KAMDAR PARTNER Date:14/05/2021 MEM No. FCS No. 5171 Place: Mumbai COP. No. 3030 UDIN: F005171C000310146 Note: This report should be read with our letter of even date which is annexed as Annexure- II and forms an integral part of this report.