Form 6-K DR REDDYS LABORATORIES For: Jul 31

 

 

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

July 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		Press Release, “Dr. Reddy’s Laboratories announces the launch of Omeprazole and Sodium bicarbonate capsules in the U.S. Market”, July 18, 2016.
99.2		Notice to Exchanges regarding Outcome of 32nd Annual General Meeting and Voting results, July 27, 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: August 3, 2016				By:		/s/ Sandeep Poddar
						Name: Sandeep Poddar
						Title:  Company Secretary

Exhibit 99.1

 

 

		CONTACT
DR. REDDY’S LABORATORIES LTD. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500034. Telangana, India.		INVESTOR RELATIONS		MEDIA RELATIONS
		KEDAR UPADHYE [email protected] (Ph: +91-40-66834297)		CALVIN PRINTER [email protected] (Ph: +91-40- 49002121)

 

Dr. Reddy’s Laboratories announces the launch of
Omeprazole and Sodium bicarbonate capsules in the U.S. Market
Hyderabad, India, July 18, 2016		For Immediate Release

Hyderabad, India and Princeton, NJ, USA. July 18, 2016—Dr. Reddy’s Laboratories Ltd (BSE: 500124, NSE: DRREDDY, NYSE: RDY) announced today that it has launched Omeprazole and Sodium bicarbonate capsules, 20mg/1100mg and 40mg/1100mg, a therapeutic equivalent generic version of ZEGERID^® (omeprazole/sodium bicarbonate) capsules in the United States market, having been approved by the U.S. Food & Drug Administration (USFDA).

The Zegerid^® brand and generic had U.S. sales of approximately $306.7 million MAT for the most recent twelve months ending in May 2016 according to IMS Health*.

Dr. Reddy’s Omeprazole and sodium bicarbonate capsules 20 mg/1100 mg and 40 mg/1100 mg are available in bottle count size of 30.

Zegerid^® is a registered trademark of Santarus, Inc. a wholly owned subsidiary of Salix Pharmaceuticals, Inc.

 

*IMS	National Sales Perspectives: Retail and Non-Retail MAT May 2016

RDY-0716-129

About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastro-intestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy’s operates in markets across the globe. Our major markets include – USA, Russia & CIS and India. For more information, log on to: www.drreddys.com

Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the management’s current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency exchange rates , interest rates , persistency levels and frequency / severity of insured loss events (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization , including related integration issues.

The company assumes no obligation to update any information contained herein.

Exhibit 99.2

 

		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

July 27, 2016

BSE Limited

National Stock Exchange of India Limited

New York Stock Exchange

Dear Sir/Madam,

Ref.: Scrip Code: 500124 (BSE), DRREDDY (NSE), RDY(NYSE)

Sub.: Outcome of 32^nd Annual General Meeting & Voting results.

This is with reference to our earlier letter dated July 1, 2016 regarding the 32^nd Annual General Meeting (AGM) of the Company held today i.e. July 27, 2016.

In accordance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), this is to inform you that the Members of the Company transacted the business as stated in the Notice of 32^nd AGM, dated June 17, 2016.

 

SI. no.

Description

Particulars

A

Date of AGM

July 27, 2016

B

Total no. of Shareholders on record (cut-off) date (June 24, 2016)

107,625(1)

C

No. of shareholders present in meeting either in person or through proxy

210

D

Shareholders

Present in person and proxy

Equity Shares

% to capital

Promoter & Promoter group

11

43,649,762

26.36

Public

199

34,323,714

20.73

Total

210

77,973,476

47.09

E

No. of shareholders attended the meeting through video conferencing: Promoter & Promoter group: Not applicable Public: Not applicable

 

(1)	The cut-off date for purpose of determining the shareholders eligible to vote was Wednesday July 20, 2016.

The agenda-wise disclosure of voting details is enclosed as Annexure-A. The Report of Scrutinizer on remote e-voting & voting at AGM (by electronic means) is enclosed as Annexure - B.

 

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Further, pursuant to Regulation 30 of the Listing Regulations, summary of the 32^nd AGM proceedings is enclosed as Annexure – C.

We would also like to inform you that Mr. Ravi Bhoothalingam, Independent Director of the Company has ceased to be a Director of the Company w. e. f. July 27, 2016 on completion of his term.

With regards,

Sandeep Poddar

Company Secretary

Encl: a/a

CC: National Securities Depositary Limited (NSDL)

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Annexure - A

DR. REDDY’S LABORATORIES LIMITED - 32nd AGM VOTING RESULTS IN FORMAT UNDER REGULATION 44 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIRMENTS) REGULATIONS, 2015

 

Resolution no. 1		Consolidated (Remote E-Voting + Voting at AGM)
Ordinary Resolution- Approval of the financial statements (standalone and consolidated) of the Company for the year ended 31 March, 2016, including audited Balance Sheet as at 31st March, 2016 and the Statement of Profit and Loss of the Company for the year ended on that date along with the reports of the Board of Directors and Auditors thereon.		Promoter/Public			No. of shares held (1)				No. of votes polled (2)				% of votes polled on outstanding shares (3)				No. of votes - in favour (4)				No. of Votes- against (5)				% of votes in favour on votes polled (6)				% of votes against on votes polled (7)
		Promoter & Promoter Group			43649762				43649762				100.00				43649762				0				100.00				0.00
		Public - Institutional holders			106638290				76921615				72.13				76918853				2762				100.00				0.00
		Public - Others			15295423				116799				0.76				116655				144				99.88				0.12
		Total			165583475				120688176				72.89				120685270				2906				100.00				0.00
Resolution no. 2		Consolidated (Remote E-Voting + Voting at AGM)
Ordinary Resolution- Declaration of dividend on the equity shares for the financial year 2015-16.		Promoter/Public			No. of shares held (1)				No. of votes polled (2)				% of votes polled on outstanding shares (3)				No. of votes - in favour (4)				No. of Votes- against (5)				% of votes in favour on votes polled (6)				% of votes against on votes polled (7)
		Promoter & Promoter Group			43649762				43649762				100.00				43649762				0				100.00				0.00
		Public - Institutional holders			106638290				77062297				72.27				77013314				48983				99.94				0.06
		Public - Others			15295423				116858				0.76				116719				139				99.88				0.12
		Total			165583475				120828917				72.97				120779795				49122				99.96				0.04
Resolution no. 3		Consolidated (Remote E-Voting + Voting at AGM)
Ordinary Resolution- Re-appointment of Mr. K Satish Reddy (DIN : 00129701), who retires by rotation, and being eligible offers himself for the re-appointment.		Promoter/Public			No. of shares held (1)				No. of votes polled (2)				% of votes polled on outstanding shares (3)				No. of votes - in favour (4)				No. of Votes- against (5)				% of votes in favour on votes polled (6)				% of votes against on votes polled (7)
		Promoter & Promoter Group			43649762				43649762				100.00				43649762				0				100.00				0.00
		Public - Institutional holders			106638290				76168028				71.43				75647306				520722				99.32				0.68
		Public - Others			15295423				116793				0.76				116255				538				99.54				0.46
		Total			165583475				119934583				72.43				119413323				521260				99.57				0.43

 

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Resolution no. 4 Ordinary Resolution- Appointment of M/s. S R Batliboi & Associates LLP, Chartered Accountants as Statutory Auditors and fix their remuneration.		Consolidated (Remote E-Voting + Voting at AGM)
		Promoter/Public			No. of shares held (1)				No. of votes polled (2)				% of votes polled on outstanding shares (3)				No. of votes - in favour (4)				No. of Votes- against (5)				% of votes in favour on votes polled (6)				% of votes against on votes polled (7)
		Promoter & Promoter Group			43649762				43649762				100.00				43649762				0				100.00				0.00
		Public - Institutional holders			106638290				77057842				72.26				76604276				453566				99.41				0.59
		Public - Others			15295423				116843				0.76				116092				751				99.36				0.64
		Total			165583475				120824447				72.97				120370130				454317				99.62				0.38
Resolution no. 5 Ordinary Resolution- Re-appointment of Mr G V Prasad (DIN:00057433) as Whole-time Director designated as Co-Chairman, Managing Director and Chief Executive Officer.		Consolidated (Remote E-Voting + Voting at AGM)
		Promoter/Public			No. of shares held (1)				No. of votes polled (2)				% of votes polled on outstanding shares (3)				No. of votes - in favour (4)				No. of Votes- against (5)				% of votes in favour on votes polled (6)				% of votes against on votes polled (7)
		Promoter & Promoter Group			43649762				43649762				100.00				43649762				0				100.00				0.00
		Public - Institutional holders			106638290				76941927				72.15				74825230				2116697				97.25				2.75
		Public - Others			15295423				116809				0.76				115844				965				99.17				0.83
		Total			165583475				120708498				72.90				118590836				2117662				98.25				1.75
Resolution no. 6 Ordinary Resolution- Appointment of Mr. Bharat Narotam Doshi (DIN:00012541) as an Independent Director in terms of Section 149 of the Companies Act, 2013.		Consolidated (Remote E-Voting + Voting at AGM)
		Promoter/Public			No. of shares held (1)				No. of votes polled (2)				% of votes polled on outstanding shares (3)				No. of votes - in favour (4)				No. of Votes- against (5)				% of votes in favour on votes polled (6)				% of votes against on votes polled (7)
		Promoter & Promoter Group			43649762				43649762				100.00				43649762				0				100.00				0.00
		Public - Institutional holders			106638290				77051974				72.26				76793720				258254				99.66				0.34
		Public - Others			15295423				116851				0.76				115106				1745				98.51				1.49
		Total			165583475				120818587				72.97				120558588				259999				99.78				0.22

 

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Resolution no. 7 Ordinary Resolution- Appointment of Mr. Hans Peter Hasler (DIN:07535056) as an Independent Director in terms of Section 149 of the Companies Act, 2013.		Consolidated (Remote E-Voting + Voting at AGM)
		Promoter/Public			No. of shares held (1)				No. of votes polled (2)				% of votes polled on outstanding shares (3)				No. of votes - in favour (4)				No. of Votes- against (5)				% of votes in favour on votes polled (6)				% of votes against on votes polled (7)
		Promoter & Promoter Group			43649762				43649762				100.00				43649762				0				100.00				0.00
		Public - Institutional holders			106638290				77051479				72.25				76835181				216298				99.72				0.28
		Public - Others			15295423				116842				0.76				116039				803				99.31				0.69
		Total			165583475				120818083				72.97				120600982				217101				99.82				0.18
Resolution no. 8 Ordinary Resolution- Remuneration to Directors other than the Managing/Whole-time Directors.		Consolidated (Remote E-Voting + Voting at AGM)
		Promoter/Public			No. of shares held (1)				No. of votes polled (2)				% of votes polled on outstanding shares (3)				No. of votes - in favour (4)				No. of Votes- against (5)				% of votes in favour on votes polled (6)				% of votes against on votes polled (7)
		Promoter & Promoter Group			43649762				43649762				100.00				43649762				0				100.00				0.00
		Public - Institutional holders			106638290				77028094				72.23				76957343				70751				99.91				0.09
		Public - Others			15295423				116732				0.76				111665				5067				95.66				4.34
		Total			165583475				120794588				72.95				120718770				75818				99.94				0.06
Resolution no. 9 Ordinary Resolution- Ratification of remuneration payable to Cost Auditors, M/s Sagar & Associates, Cost Accountants, for the financial year ending 31 March, 2017.		Consolidated (Remote E-Voting + Voting at AGM)
		Promoter/Public			No. of shares held (1)				No. of votes polled (2)				% of votes polled on outstanding shares (3)				No. of votes - in favour (4)				No. of Votes- against (5)				% of votes in favour on votes polled (6)				% of votes against on votes polled (7)
		Promoter & Promoter Group			43649762				43649762				100.00				43649762				0				100.00				0.00
		Public - Institutional holders			106638290				77051772				72.26				77042923				8849				99.99				0.01
		Public - Others			15295423				116749				0.76				115963				786				99.33				0.67
		Total			165583475				120818283				72.97				120808648				9635				99.99				0.01

 

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Annexure - B

 

				R & A.Associates
				T 202, Technopolis, 1-10-74/B Above Ratnadeep Super Market Chikoti Gardens, Begumpet Hyderabad - 500016. India +91 40-4003 2244 - 47
				[email protected] | www.RnA-cs.com

CONSOLIDATED SCRUTINIZER’S REPORT

(Pursuant to Section 108 of the Companies Act, 2013 and Rule 20 of the Companies

(Management and Administration) Rules, 2014 as amended)

To

The Chairman

Dr. Reddy’s Laboratories Limited

8-2-337, Road No.3, Banjara Hills

Hyderabad 500 035

32nd Annual General Meeting of the Members of Dr. Reddy’s Laboratories Limited held on Wednesday, 27 July 2016 at 9.30 AM IST at the Kavari Ball Room, Hotel Trident, HITEC City, Madhapur, Hyderabad 500081, Telangana, India.

Dear Sir,

I, G Raghu Babu, Company Secretary in whole-time practice, Partner, R & A Associates, Company Secretaries, Hyderabad was appointed as Scrutinizer by the Board of Directors of the Dr. Reddy’s Laboratories Limited (the Company) for the purpose of scrutinizing the remote e-voting and voting process for the 32nd Annual General Meeting (AGM) of the Company, pursuant to Section 108 of the Companies Act, 2013 (the Act) read with Rule 20 & 21 of the Companies (Management and Administration) Rules, 2014 as amended (the Rules), on the resolutions contained in the Notice of the 32nd AGM of the members of the Company, held on Wednesday, 27 July, 2016 at 9.30 AM IST and also for ascertaining the requisite majority for the resolutions proposed therein.

The management of the Company is responsible to ensure the compliance with the requirements of the Act and the Rules relating to remote e-voting and voting process for the resolutions contained in the Notice of the 32nd AGM of the members of the company. Our responsibility as a Scrutinizer is to ensure that remote e-voting and voting process is carried out in a fair and transparent manner and to make a consolidated scrutinizer’s report on remote e-voting and voting at the AGM venue. The Company has engaged the services of National Securities Depository Limited (NSDL) for voting by electronic means (both for remote e-voting and voting at the AGM venue).

In accordance with the Notice of the 32nd AGM sent to the members and the ‘Advertisement’ published pursuant to Rule 20 of the Companies (Management and Administration) Rules, 2014 as amended, the remote e-voting period was open from 9.00 AM IST on Saturday, 23 July 2016 and was closed at 5.00 PM IST on Tuesday, 26 July 2016.

 

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Continuation sheet

The equity shareholders holding shares as on Wednesday, 20 July 2016, “cut off date”, were entitled to vote on the resolution stated in the Notice of the 32nd AGM of the Company.

The voting at the AGM venue was allowed with our assistance by using an electronic voting system on the resolutions on which the voting is to be held. The said voting system was provided to all those members who were present at the AGM venue but have not cast their votes by availing the remote e-voting facility. As per the information provided by NSDL, the name of the shareholders who had voted through remote e-voting facility had been blocked.

After the conclusion of the voting at the AGM venue, the votes cast thereat were counted. Thereafter, the votes on remote e-voting were unblocked on Wednesday, 27 July 2016 at 11.30 AM, in the presence of two witnesses who were not employees of the Company and the e-voting results/list of equity shareholders who have voted for and against were downloaded from the e-voting website of NSDL.

The combined results of the remote e-voting and voting at the AGM venue are given as Annexure ‘A’ to this report. Based on combined results, we report that, all the resolutions as per the Notice of the 32nd AGM of the Company stands passed with requisite majority.

The electronic data and all other relevant records relating to the remote e-voting and voting at the AGM venue are under my safe custody until the Chairman approves and sign the Minutes of the 32nd AGM and thereafter will be handed over to the Company Secretary of the Company for safe preservation.

Thanking you,

 

				For R & A Associates
				(G. Raghu Babu)
Place: Hyderabad				Partner
Date: 27 July, 2016				CP No. 2820

 

Witness - 1:				Witness - 2:
Signature:				Signature:
Name:		P. SURYA PRAKASH		Name:		ASHOK SHETTY

 

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Dr Reddy’s Laboratories Limited - 32nd Annual General Meeting held on held on Wednesday, 27 July, 2016 at 09:30 AM at the Kaveri Ball Room, Hotel Trident, HITEC City, Madhapur, Hyderabad 500081.

 

Combined Results (remote e-Voting and voting at AGM venue)		Annexure-A

 

Item number of Notice and type of resolution		Description		Particulars of Business		Total no. of votes cast				Votes in favour of the resolution								Votes against the resolution								Invalid Votes
										No’s				% age				No’s				% age				No’s				% age
1 - Ordinary Resolution		Approval of the financial statements (standalone and consolidated) of the Company for the year ended 31 March, 2016, including audited Balance Sheet as at 31st March, 2016 and the Statement of Profit and Loss of the Company for the year ended on that date along with the reports of the Board of Directors and Auditors thereon.		remote e-voting			10,31,90,741				10,31,90,598				100.00	%			143				0.00	%			0.00				0.00	%
				voting at the AGM venue			1,74,97,435				1,74,94,672				99.98	%			2,763				0.02	%			0.00				0.00	%
				Total			12,06,88,176				12,06,85,270				100.00	%			2,906				0.00	%			0.00				0.00	%
2 - Ordinary Resolution		Declaration of dividend on the equity shares for the financial year 2015-16.		remote e-voting			10,33,24,520				10,33,24,381				100.00	%			139				0.00	%			0.00				0.00	%
				voting at the AGM venue			1,75,04,397				1,74,55,414				99.72	%			48,983				0.28	%			0.00				0.00	%
				Total			12,08,28,917				12,07,79,795				99.96	%			49,122				0.04	%			0.00				0.00	%
3 - Ordinary Resolution		Re-appointment of Mr. K Satish Reddy (DIN : 00129701), who retires by rotation, and being eligible offers himself for the reappointment.		remote e-voting			10,24,90,960				10,24,39,654				99.95	%			51,306				0.05	%			0.00				0.00	%
				voting at the AGM venue			1,74,43,623				1,69,73,669				97.31	%			4,69,954				2.69	%			0.00				0.00	%
				Total			11,99,34,583				11,94,13,323				99.57	%			5,21,260				0.43	%			0.00				0.00	%
4 - Ordinary Resolution		Appointment of M/s. S R Batliboi & Associates LLP, Chartered Accountants as Statutory Auditors and fix their remuneration.		remote e-voting			10,33,24,505				10,33,02,322				99.98	%			22,183				0.02	%			0.00				0.00	%
				voting at the AGM venue			1,74,99,942				1,70,67,808				97.53	%			4,32,134				2.47	%			0.00				0.00	%
				Total			12,08,24,447				12,03,70,130				99.62	%			4,54,317				0.38	%			0.00				0.00	%
5 - Ordinary Resolution		Re-appointment of Mr G V Prasad (DIN:00057433) as Whole-time Director designated as Co-Chairman, Managing Director and Chief Executive Officer.		remote e-voting			10,33,24,471				10,21,81,885				98.89	%			11,42,586				1.11	%			0.00				0.00	%
				voting at the AGM venue			1,73,84,027				1,64,08,951				94.39	%			9,75,076				5.61	%			0.00				0.00	%
				Total			12,07,08,498				11,85,90,836				98.25	%			21,17,662				1.75	%			0.00				0.00	%
6 - Ordinary Resolution		Appointment of Mr. Bharat Narotam Doshi (DIN:00012541) as an Independent Director in terms of Section 149 of the Companies Act, 2013.		remote e-voting			10,33,24,532				10,30,86,946				99.77	%			2,37,586				0.23	%			0.00				0.00	%
				voting at the AGM venue			1,74,94,055				1,74,71,642				99.87	%			22,413				0.13	%			0.00				0.00	%
				Total			12,08,18,587				12,05,58,588				99.78	%			2,59,999				0.22	%			0.00				0.00	%
7 - Ordinary Resolution		Appointment of Mr. Hans Peter Hasler (DIN:07535056) as an Independent Director in terms of Section 149 of the Companies Act, 2013.		remote e-voting			10,33,24,504				10,31,13,717				99.80	%			2,10,787				0.20	%			0.00				0.00	%
				voting at the AGM venue			1,74,93,579				1,74,87,265				99.96	%			6,314				0.04	%			0.00				0.00	%
				Total			12,08,18,083				12,06,00,982				99.82	%			2,17,101				0.18	%			0.00				0.00	%
8 - Ordinary Resolution		Remuneration to Directors other than the Managing/Whole-time Directors.		remote e-voting			10,33,15,081				10,33,10,187				100.00	%			4,894				0.00	%			0.00				0.00	%
				voting at the AGM venue			1,74,79,507				1,74,08,583				99.59	%			70,924				0.41	%			0.00				0.00	%
				Total			12,07,94,588				12,07,18,770				99.94	%			75,818				0.06	%			0.00				0.00	%
9 - Ordinary Resolution		Ratification of remuneration payable to Cost Auditors, M/s Sagar & Associates, Cost Accountants, for the financial year ending 31 March, 2017.		remote e-voting			10,33,24,470				10,33,23,808				100.00	%			662				0.00	%			0.00				0.00	%
				voting at the AGM venue			1,74,93,813				1,74,84,840				99.95	%			8,973				0.05	%			0.00				0.00	%
				Total			12,08,18,283				12,08,08,648				99.99	%			9,635				0.01	%			0.00				0.00	%

 

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Annexure C

SUMMARY OF PROCEEDINGS OF THE 32^nd ANNUAL GENERAL MEETING

The 32^nd Annual General Meeting (AGM) of the members of Dr. Reddy’s Laboratories Limited (‘the Company’) was held on Wednesday, 27 July 2016 at 9.30 AM at Kaveri Ball Room, Hotel Trident, HITEC City, Madhapur, Hyderabad – 500081, India. The following Directors were present:

Directors Present:

 

1. Mr. K Satish Reddy		Chairman and Member
2. Mr. G V Prasad		Co-Chairman, Managing Director & CEO and Member
3. Mr. Anupam Puri		Independent Director
4. Dr. Ashok S Ganguly		Independent Director and Member
5. Mr. Bharat N Doshi		Independent Director and Member
6. Dr. Bruce L A Carter		Independent Director
7. Mr. Hans Peter Hasler		Independent Director
8. Ms. Kalpana Morparia		Independent Director and Member
9. Dr. Omkar Goswami		Independent Director and Member
10. Mr. Ravi Bhoothalingam		Independent Director and Member
11. Mr. Sridar Iyengar		Independent Director

In attendance

 

Mr. Saumen Chakraborty		President & Chief Financial Officer and member
Mr. Sandeep Poddar		Company Secretary and member
Mr. Rajani Chander		Representative of M/s. B S R & Co. LLP, Statutory Auditors
Mr. G Raghu Babu		Partner, M/s. R & A Associates (Scrutinizer)

Members Present:

In person & by proxy, 210 representing 77,973,476 shares

Pursuant to Article 70 of Articles of Association of the Company, Mr. K Satish Reddy, the Chairman of the Board took the chair and conducted the proceedings of the Meeting. The requisite quorum being present, the meeting was called to order. The Company Secretary read the Auditors’ Report. The Chairman delivered his speech followed with the address by the Co-Chairman, Managing Director & CEO.

The shareholders were informed that the copies of audited financial statements for the year ended March 31, 2016, Board’s and Auditor’s report had been posted/emailed as the case may be, to all the Members and that the original documents along with the statutory registers are available for inspection. The shareholders were further informed that the Company had provided the Members the facility to cast their vote electronically, on all resolutions set forth in the Notice. Members who were present at the AGM and had not cast their votes electronically were provided an opportunity to cast their votes at the end of the meeting and that there will be no voting by show of hands at the meeting.

 

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Members sought certain clarifications/informations, which were appropriately responded to.

The following items of business, as per the Notice of the 32^nd AGM dated 17 June, 2016 were transacted at the meeting:

 

1.

Adoption of audited Financial Statements (both Standalone and Consolidated Financial Statements) for the financial year ended March 31, 2016 and reports of the Board of Directors and the Auditors thereon (Ordinary Resolution).

2.

Declaration of Dividend for the financial year 2015-16 (Ordinary Resolution).

3.

Re-appointment of Mr. Satish Reddy who retires by rotation, and being eligible, offers himself for the re-appointment (Ordinary Resolution).

4.

Appointment of M/s. S R Batliboi & Associates LLP, Chartered Accountants as Statutory Auditors and fix their remuneration (Ordinary Resolution).

5.

Re-appointment of Mr. G V Prasad as Whole-time Director designated as Co-Chairman, Managing Director and Chief Executive Officer (Ordinary Resolution).

6.

Appointment of Mr. Bharat Narotam Doshi as an Independent Director in terms of Section 149 of the Companies Act, 2013 (Ordinary Resolution).

7.

Appointment of Mr. Hans Peter Hasler as an Independent Director in terms of Section 149 of the Companies Act, 2013 (Ordinary Resolution).

8.

Remuneration to Directors other than the Managing / Whole-time Directors (Ordinary Resolution).

9.

Ratification of remuneration payable to Cost Auditors, M/s. Sagar & Associates Cost Accountants, for the financial year ending 31 March 2017 (Ordinary Resolution).

The Chairman informed the shareholders that Mr. G Raghu Babu, Partner of M/s. R & A Associates, Practicing Company Secretary, Hyderabad was appointed as the Scrutinizer for the voting and remote e-voting process in a fair and transparent manner and to report on the voting results for the items as per the notice of the 32^nd AGM. The Chairman also authorised the Company Secretary on behalf of the Board, to declare the results of voting. The Scrutinizers’ Report was received and accordingly all the resolutions as set out in the Notice of the 32^nd AGM were declared as passed by requisite majority.

 

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