Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

 

 

 

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, 2024

 

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

[phone]

 

(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-________.

 

 

 

 

 

 

EXHIBITS

 

Exhibit Number		Description of Exhibits
99.1		Intimation on Outcome of 40th AGM dated July 29, 2024

 

2

 

 

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: July 29, 2024	By:	/s/ K Randhir Singh
		Name:	K Randhir Singh
		Title:	Company Secretary

 

3

  

 

Exhibit 99.1

 

Dr. Reddy’s Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, India. CIN : L85195TG1984PLC004507   Tel       : [phone] Fax      : [phone] Email  : [e-mail] www.drreddys.com

 

July 29, 2024

 

National Stock Exchange of India Ltd. (Stock Code: DRREDDY-EQ)

BSE Limited (Stock Code: 500124)

New York Stock Exchange Inc. (Stock Code: RDY)

NSE IFSC Ltd. (Stock Code: DRREDDY)

 

Dear Sir/Madam,

 

Sub.: Outcome of 40th Annual General Meeting and Voting results

 

This is with reference to our earlier letters dated May 07, 2024 and July 2, 2024, regarding the 40th Annual General Meeting (AGM) of the Company, held on July 29, 2024.

 

In accordance with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations), this is to inform you that the Members of the Company transacted the business as stated in the Notice of 40th AGM, dated May 07, 2024, through video conferencing facility.

 

In this regard, please find enclosed the following:

 

1.

Pursuant to Regulation 30 of the SEBI Listing Regulations, summary of the 40th AGM proceedings is enclosed as Annexure - A.

2.

The consolidated Report of Scrutinizer on remote e-voting & e-voting during the AGM is enclosed as Annexure - B.

3.

The agenda-wise disclosure of voting details is enclosed as Annexure - C.

 

The above are also being uploaded on the Company's website www.drreddys.com and on the website of National Securities Depository Limited www.evoting.nsdl.com.

 

The video recording of the proceedings of the AGM will be available on the Company's website at www.drreddys.com.

 

For Dr. Reddy’s Laboratories Limited

 

K Randhir Singh

Company Secretary, Compliance Officer and Head-CSR

 

Encl: As above

 

CC: National Securities Depositary Limited (NSDL)

 

 

 

 

Dr. Reddy’s Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, India. CIN : L85195TG1984PLC004507   Tel       : [phone] Fax      : [phone] Email  : [e-mail] www.drreddys.com

 

DR. REDDY’S LABORATORIES LIMITED

 

Summary of proceedings of the 40th Annual General Meeting (AGM) of the members of Dr. Reddy’s Laboratories Limited (‘the Company’) held on Monday, July 29, 2024 at 11.00 AM (IST) through Video Conferencing (VC) /Other Audio Visual Means (OAVM).

 

Directors Present through VC:

 

1.	Mr. K Satish Reddy	Chairman and Member, participated from Hyderabad, India
2.	Mr. G V Prasad	Co-Chairman and Managing Director and Member, participated from Hyderabad, India
3.	Ms. Kalpana Morparia	Independent Director and Member, participated from Mumbai, India
4.	Mr. Leo Puri	Independent Director, participated from Singapore
5.	Ms. Shikha Sharma	Independent Director, participated from Mumbai, India
6.	Dr. K P Krishnan	Independent Director, participated from Mumbai, India
7.	Ms. Penny Wan	Independent Director, participated from Pennsylvania, USA
8.	Mr. Arun M Kumar	Independent Director, participated from Bangalore, India
9.	Dr. Claudio Albrecht	Independent Director, participated from Austria
10.	Ms. Alpna Seth	Independent Director, participated from Delhi, India
11.	Mr. Sanjiv Mehta	Independent Director, participated from Paris, France

 

In attendance through VC, participated from Hyderabad, India:

 

1.	Mr. Erez Israeli	Chief Executive Officer
2.	Mr. Parag Agarwal	Chief Financial Officer
3.	Mr. K Randhir Singh	Company Secretary, Compliance Officer and Head-CSR

 

Other representatives through VC:

 

1.

Representatives of M/s. S.R. Batliboi & Associates LLP, Statutory Auditors, participated from Hyderabad, India

2.

Mr. Atul Mehta, Scrutinizer, Founding Partner, M/s. Mehta & Mehta, Practicing Company Secretaries, participated from Hyderabad, India

 

Members Present:

Total 179 members holding 8,13,44,475 shares, attended the meeting through VC/OAVM.

 

Pursuant to Article 70 of the 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.

 

 

 

 

 

 

Thereafter, the Company Secretary informed the members that the meeting is being held through Video Conferencing/ Other Audio Visual Means (OAVM) in compliance with the applicable Circulars issued by the Ministry of Corporate Affairs (MCA) and Securities Exchange Board of India (SEBI). The Company Secretary further stated that since the Integrated Annual Report for FY2024 containing the Notice of the 40th AGM and the Auditor’s Report was circulated to the members through electronic mode, the Notice convening the meeting and the Auditor’s Report are taken as read. Thereafter, the Chairman delivered his speech followed with the address by the Co-Chairman and Managing Director.

 

The members were informed that the Integrated Annual Report for FY2024 containing the Audited Financial Statements (both Standalone and Consolidated) for the year ended March 31, 2024, Board’s and Auditor’s report had been sent through electronic mode to all the members whose e-mail addresses were registered with the Company/ Depository Participant(s)/ Registrar and Transfer Agent. The members were also informed that the original documents, as referred to in the Integrated Annual Report, along with the statutory registers were made available for inspection before the 40th AGM and were also available during the AGM for inspection in electronic mode.

 

Further, the Members were invited to come forward and seek clarifications/information on the operational and financial performance of the Company. In addition to certain queries on financial statements, the members sought clarifications on key financial/operational matters. These queries were adequately responded to by the Management

 

The members were further informed that the Company had provided to the members facility to cast their votes electronically, on all resolutions set forth in the Notice of the 40th AGM through remote e-voting provided by NSDL. The remote e-voting facility was open from Thursday, July 25, 2024 (9.00 AM IST) to Sunday, July 28, 2024 (5.00 PM IST). Members who attended the AGM and had not cast their votes through remote e-voting prior to the meeting were provided an opportunity to cast their votes during the AGM through the e-voting facility provided by NSDL.

 

The following items of business, as per the Notice of the 40th AGM dated May 07, 2024 were transacted at the meeting:

 

Ordinary Business

1.

Adoption of Audited Financial Statements (Standalone and Consolidated) of the Company for the year ended March 31, 2024, together with the Reports of the Board of Directors and Auditors thereon (Ordinary Resolution).

 

2.

Declaration of dividend of Rs. 40 per equity share for the FY2024 (Ordinary Resolution).

 

3.

Re-appointment of Mr. K Satish Reddy (DIN: 00129701), as a Director, who retires by rotation, and being eligible offers himself for re-appointment (Ordinary Resolution).

 

Special Business

4.

Approval of the appointment of Mr. Vishal Reddy, a related party, as an entry level employee in Dr. Reddy’s Laboratories Inc, USA, a wholly owned subsidiary of the Company (Ordinary Resolution).

 

5.

Approval of the remuneration payable to Cost Auditors, M/s. Sagar & Associates, Cost Accountants, for the financial year ending March 31, 2025 (Ordinary Resolution).

 

 

 

 

 

 

The Chairman informed the members that Mr. Atul Mehta (Membership No. F5782 and COP No. 2486), Founding Partner, M/s Mehta & Mehta, Company Secretaries, was appointed as the Scrutinizer for scrutinizing the processes of remote e-voting prior to the meeting and e-voting during the AGM in a fair and transparent manner and to report on the voting results for the items as per the Notice of the 40th AGM. The Chairman also informed the members that the Company Secretary is authorised on behalf of the board, to declare the results of the voting.

 

The meeting started at 11:00 a.m. and concluded at 1:16 p.m. (including 30 minutes time allowed for e-voting during AGM).

 

The Scrutinizer’s Report was received, and accordingly all the resolutions as set out in the Notice of the 40th AGM were declared as passed by requisite majority.

 

For Dr. Reddy’s Laboratories Limited

 

 

K Randhir Singh

Company Secretary, Compliance Officer and Head-CSR

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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