Form 6-K DR REDDYS LABORATORIES For: Apr 05

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

April 2016

Commission File Number 1-15182

 

 

DR. REDDY’S LABORATORIES LIMITED

(Translation of registrant’s name into English)

 

 

8-2-337, Road No. 3, Banjara Hills

Hyderabad, Telangana 500 034, India

+91-40-49002900

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  x             Form 40-F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ¨

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ¨

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  ¨             No  x

If “Yes” is marked, indicate below the file number assigned to registrant in connection with Rule 12g3-2(b): 82-                        .

 

 

 

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EXHIBITS

 

Exhibit Number		Description of Exhibits
99.1		Notice to Stock Exchanges of Results of Postal Ballot, April 2, 2016.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

				DR. REDDY’S LABORATORIES LIMITED (Registrant)
Date: April 5, 2016				By:		/s/ Sandeep Poddar
						Name: Sandeep Poddar
						Title: Company Secretary

Exhibit 99.1

 

		Dr. Reddy’s Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, India. CIN : L85195TG1984PLC004507   Tel :+91 40 4900 2900 Fax :+91 40 4900 2999 Email: [email protected] www.drreddys.com

April 2, 2016

BSE Limited

National Stock Exchange of India Limited

Dear Sir/Madam,

 

Ref.:

Scrip Code: 500124 (BSE), DRREDDY (NSE)

Sub.:

Results of Postal Ballot pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Voting result.

This is in reference to our letter dated March 1, 2016 wherein we have enclosed the postal ballot notice along with the statement annexed thereto. The postal ballot was conducted for seeking approval of Members of the Company for buyback of equity shares by the Company.

In accordance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Special Resolution for buyback of equity shares by the Company, has been approved by the Members of the Company with requisite majority. The approval is deemed to have been received on the last date for receipt of duly completed postal ballot forms and e-voting i.e April 1, 2016.

The summarized voting result of the postal ballot process (through e-voting and postal ballot), in the prescribed format, along with a copy of the Scrutinizer’s Report are enclosed herewith.

With regards,

 

/s/ Sandeep Poddar

Sandeep Poddar Company Secretary

Encl: a/a

 

CC:	New York Stock Exchange (For information)-Stock code: RDY

National Securities Depositary Limited (NSDL)

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DETAILS OF VOTING RESULTS

AS PER REGULATION 44(3) OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

 

Date of AGM/EGM/Declaration of Voting Result of Postal Ballot		April 2, 2016
Record Date/Cut Off date		February 19, 2016
Total Number of Shareholders as on Record Date/Cut off date		108,967
Number of Shareholders who casted their votes     1.   Promoters and Promoter Group     2.   Public		11 1,641
Resolution required		Ordinary/Special
Summary of Resolution		Approval for Buyback of its equity shares by Dr. Reddy’s Laboratories Limited
Whether Promoter/Promoter group are interested in the agenda/resolution?		No

 

				No. of shares held				No. of votes polled				% of Votes Polled on outstanding shares				No. of Votes-in favour				No. of Votes - against				% of Votes in favour on votes polled				% of Votes against on votes polled
Category		Mode of Voting		(1)				(2)				(3)=[(2)/(1)]*100				(4)				(5)				(6)=[(4)/(2)]*100				(7)=[(5)/(2)]*100
Promoter and Promoter Group		E-Voting			43,649,762				43,649,762				100.00				43,649,762				0				100.00				0.00
		Poll			NA				NA				NA				NA				NA				NA				NA
		Postal Ballot			43,649,762				0				0				0				0				0				0
		Total			43,649,762				43,649,762				100.00				43,649,762				0				100.00				0.00
Public — Institutional holders		E-Voting			111,676,705				59,610,757				53.38				59,587,232				23,525				99.96				0.04
		Poll			NA				NA				NA				NA				NA				NA				NA
		Postal Ballot			111,676,705				15,985,502				14.31				15,963,029				22,473				99.86				0.14
		Total			111,676,705				75,596,259				67.69				75,550,261				45,998				99.94				0.06
Public-Others		E-Voting			15,281,186				118,822				0.78				115,333				3,489				97.06				2.94
		Poll			NA				NA				NA				NA				NA				NA				NA
		Postal Ballot			15,281,186				82,693				0.54				71,329				11,364				86.26				13.74
		Total			15,281,186				201,515				1.32				186,662				14,853				92.63				7.37
Total					170,607,653				119,447,536				70.01				119,386,685				60,851				99.95				0.05

The number of votes polled in favor of the Special Resolution are 119,386,685 (99.95 % of the total valid votes). Thus, the Special Resolution has been approved by shareholders with requisite majority.

 

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April 2, 2016

The Chairman

Board of Directors

Dr. Reddy’s Laboratories Limited

8-2-337, Road No. 3

Banjara Hills, Hyderabad-500034

Telangana

Dear Sir,

Sub: Postal ballot – Scrutinizer’s Report

Pursuant to the resolution passed by the Board of Directors of Dr. Reddy’s Laboratories Limited (Company) on February 17, 2016, I was appointed as “Scrutinizer” to receive, process and scrutinize the postal ballot process in a fair and transparent manner pursuant to Section 110 of the Companies Act, 2013 (Act) read with the Companies (Management and Administration) Rules, 2014 and in accordance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015 in respect of special resolution for Buyback of equity shares of the Company through Postal Ballot.

I HEREBY SUBMIT MY REPORT AS UNDER:

 

Date of Declaration of result		April 2, 2016
Total no. of shareholders on record date February 19, 2016		108,967 (One lakh eight thousand nine hundred and sixty seven)

SEBI Polling Reports:

Special resolution for Buyback of equity shares of the Company

 

		No. of shares held				No. of votes polled				% of Votes Polled on outstanding shares				No. of Votes - in favour				No. of Votes- against				% of Votes in favour on votes polled				% of Votes against on votes polled
Promoter / Public		(1)				(2)				(3)=[(2)/(1)]*100				(4)				(5)				(6)=[(4)/(2)]*100				(7)=[(5)/(2)]*100
Promoter and Promoter Group			43,649,762				43,649,762				100.00				43,649,762				0				100.00				0.00
Public – Institutional holders			111,676,705				75,596,259				67.69				75,550,261				45,998				99.94				0.06
Public-Others			15,281,186				201,515				1.32				186,662				14,853				92.63				7.37
Total			170,607,653				119,447,536				70.01				119,386,685				60,851				99.95				0.05

 

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Continuation Sheet

 

I submit my report as under:

 

1.

The Company has on March 2, 2016 completed the dispatch/sending of emails of Notice of Postal Ballot dated February 17, 2016, Postal Ballot Form along with postage prepaid business reply envelope to its members whose names appeared on the Register of Members / List of Beneficiaries as received from the National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) as on February 19, 2016 “cutoff date”.

 

2.

The E-voting commenced on Thursday, March 3, 2016 (9.00 AM IST) and ended on Friday, April 1, 2016 (6.00 PM IST) for physical ballot as well as e-voting.

 

3.

The e-voting facility was provided by National Securities Depository Limited (NSDL) and necessary technical support was provided by Bigshare Services Private Limited, Hyderabad, the Registrar and Share Transfer Agent of the Company, for processing Postal Ballot Forms.

 

4.

Particulars of the Postal Ballot Forms received including the votes casted through e-voting from/by the members have been entered in a Register separately maintained for the purpose.

 

5.

The Postal Ballot Forms were kept under my safe custody in sealed and tamper-proof ballot boxes before commencing the scrutiny of such Postal Ballot Forms.

 

6.

At 6.30 PM on April 1, 2016, I have downloaded the e-Voting Report from the National Securities Depository Limited (NSDL) website viz., www.evoting.nsdl.com.

 

7.

The Ballot Boxes were opened at 6:15 PM on April 1, 2016 in my presence.

 

8.

The Postal Ballot Forms were duly opened in my presence and scrutinized. The Ballot papers received were reconciled with the records maintained by the Company/RTA and authorizations/power of attorney etc. The shareholding was also scrutinized for the purpose of eliminating duplicate voting, i.e. on e-voting as well as by physical voting.

 

9.

All ballot forms received/votes cast up to 6.00 PM on April 1, 2016 being the last date and time fixed by the Company for receipt of the forms/e-voting were considered for scrutiny.

 

10.

No envelope containing the Postal Ballot Forms/E-votes were received after 6.00 PM on April 1, 2016.

 

11.

Envelopes containing the Postal Ballot Forms returned undelivered were not opened and they were kept separately.

 

12.

I did not find any defaced or mutilated ballot papers / forms.

 

13.

Invalid ballots were marked and segregated.

 

14.

Summary of the Postal Ballot Forms/Electronic Votes received are as follows:

 

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Continuation Sheet

 

Special Resolution for Buyback of equity shares of the Company

 

Assent/Dissent		Number of ballots received				Number of votes cast by them				% of total number of valid votes cast				Remarks
(i)Voted in favour of the Resolution														Passed with requisite Majority.
Physical Voting			266				16,034,358				13.42
E-voting			1,290				103,352,327				86.53
Total (A)			1,556				119,386,685				99.95
(ii) Voted against the Resolution
Physical Voting			27				33,837				0.03
E-voting			69				27,014				0.02
Total (B)			96				60,851				0.05
Grand Total (A)+(B)			1,652				119,447,536				—
(iii) Invalid vote			24				12,835				—

Results:

As the number of votes casted in favor of the resolution i.e. 99.95% is more than 3 (three) times the number of votes casted against i.e. 0.05%, I report that, Special resolution for approval of Buyback of equity shares by the Company under Section 110 of Companies Act, 2013 read with Companies (Management and Administration) Rules, 2014 as set out in the Notice of Postal Ballot has been passed by the Members of Dr. Reddy’s Laboratories Limited with requisite majority.

 

15.

The Postal Ballot Forms and other related papers/registers and records were handed over to the Company Secretary for the safe custody.

 

16.

You may accordingly declare the result of the Postal Ballot exercise.

Thanking you,

 

				For R & A Associates
				/s/ G. Raghu Babu (G. Raghu Babu) Partner FCS No. 4448, CP No. 2820
Place: Hyderabad
Date: April 2, 2016

 

 

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