Extra-Ordinary General Meeting Notice

01 CHASE BRIGHT STEEL LIMITED CIN: L99999MH1959PLC011479 Registered Office: R-237, TTC Industrial Area,MIDC, Rabale, Navi Mumbai 400701 Tel.: 022-27606679, Fax No.: 022-27690627 Email: chasebrightsteel@gmail.com, Website: www.chasebright.com Extra-Ordinary General Meeting Notice To The Members, Notice is hereby given that an Extra-Ordinary General Meeting (EOGM) of the Members of the Company will be held on Friday, 30 th September, 2016 at 12.30 P.M. at R-237, TTC Industrial Area, MIDC, Rabale, Navi Mumbai 400701 to transact the following business: SPECIAL BUSINESS To consider and if thought fit, to pass the following Resolution as an Ordinary Resolution: RESOLVED THAT pursuant to the provisions of Section 23 of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), the Report of Board of Directors of the Company to the shareholders on the erosion of more than 50% of the Peak Net Worth of the Company as at the end of the Financial year ended 31st March, 2016 in relation to its peak net worth during the immediately preceding four financial years, be and is hereby considered, approved and noted. RESOLVED FURTHER THAT Board of Directors of the Company be and is hereby authorised to take such steps as may be necessary including reporting of the fact of such erosion to the Board for Industrial and Financial Reconstruction (BIFR) in the prescribed form and in accordance with the provisions of Section 23(1)(a)(i) of SICA and to do all such acts, deeds and things as may be considered necessary, proper or desirable or expedient to give effect to the above resolution. RESOLVED FURTHER THAT the board be and is hereby authorized to delegate all or any of the powers herein conferred by this resolution to any director(s) of the company or to any authorized representative by the company. By Order of the Board Avinash Jajodia Date: 12 th August, 2016 (DIN 00074886) Place: Mumbai Chairman & Managing Director NOTES: 1. The relevant Explanatory Statement pursuant to Section 102 of the Companies Act, 2013 in respect of the special business set out to the Notice is annexed herewith. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT A PROXY TO ATTEND AND TO VOTE ON A POLL INSTEAD OF HIMSELF. THE PROXY NEED NOT BE A MEMBER OF THE COMPANY. A BLANK FORM OF PROXY IS ENCLOSED HEREWITH AND, IF INTENDED TO BE USED, IT SHOULD BE RETURNED DULY COMPLETED AT THE REGISTERED OFFICE OF THE COMPANY NOT

02 Chase Bright Steel Limited LESS THAN FORTY EIGHT HOURS BEFORE THE SCHEDULED TIME OF THE COMMENCEMENT OF EXTRA ORDINARY GENERAL MEETING. A PERSON CAN ACT AS PROXY ON BEHALF OF MEMBERS NOT EXCEEDING FIFTY IN NUMBER AND HOLDING IN THE AGGREGATE NOT MORE THAN 10% OF THE TOTAL SHARE CAPITAL OF THE COMPANY CARRYING VOTING RIGHTS. HOWEVER, A MEMBER HOLDING MORE THAN 10% OF THE TOTAL SHARE CAPITAL OF THE COMPANY CARRYING VOTING RIGHTS MAY APPOINT A SINGLE PERSON AS PROXY AND SUCH PERSON SHALL NOT ACT AS PROXY FOR ANY OTHER PERSON OR SHAREHOLDER. In terms of Sick Industrial Companies (Special Provisions) Act, 1985, the shareholders of the Company are required to take note of and / or approve the Report of Board of Directors on erosion of the 50% of the peak networthof the Company in the preceding four financial years by accumulated losses and causes for such erosion within sixty days of finalization of the audited accounts of the Company. The financial statements of the Company for F Y 2015-16 has been with the shareholders for quite some time and is also available on the Company s website www.chasebright.com. The Board of Directors of the Company, in order to avoid expenditure on dispatch of Notice and other expenses, has decided to convene and hold this EOGM of the shareholders of the Company after the conclusion of the Fifty-sixth Annual General Meeting ( AGM ) of the Company on the same day and at the same venue and accordingly the Notice convening this meeting of the shareholders of the Company is being sent to all the shareholders along with the Notice of the AGM. The meeting will be held at 12.30 p.m. or after the conclusion of the Annual General Meeting convened on the same day, whichever is later. All documents referred to in the notice and accompanying explanatory statement are open for inspection at the Registered Office of the Company on all working days, upto the date of EOGM. Members are requested to bring their attendance slips annexed with the Notice of EOGM dated 30th September, 2016. Pursuant to Listing Agreement with Stock Exchange and Sections 20 and 101 of the Companies Act, 2013, read with relevant rules made thereunder, the Companies can serve Notice for the meeting and other communications through electronic mode to those members who have registered their email address either with the Company or with the Depository. Accordingly, the Notice of EGM shall be sent electronically to all the members whose email address has been registered with the Company/Depository Participants unless any member has requested for a hard copy of the same. Even after registering for e-communication, members are entitled to receive such communication in physical form, upon receipt of request for the same, by post/courier, free of cost. The Board of Directors of the Company has appointed Mrs Leena Agrawal of M/s Leena Agrawal Co., Practicing Company Secretaries, as Scrutinizer for conducting the remote e-voting process and Postal Ballot voting process, in a fair and transparent manner and he has communicated his willingness to be appointed and will be available for the same purpose. VOTING THROUGH ELECTRONIC MEANS AND BALLOT: In compliance with regulation 44 of SEBI (LISTING OBLIGATION AND DISCLOSURE REQUIREMENT) 2015 entered into by the Company with the Stock Exchanges and Section 108 of the Companies Act, 2013 and Companies (Management and Administration) Rules, 2014, the Company will provide facility for voting by electronic means for the business to be transacted at the EOGM. In order to enable its Members, who do not have access to e-voting facility to send their assent or dissent in writing in respect of the resolutions as set out in the Notice, the Company is enclosing a Ballot Form with the Notice. The members who have not casted their vote through

03 remote e-voting or postal ballot process can vote at venue at the EOGM. A person, whose name is recorded in the Register of Members or in the Register of Beneficial Owners maintained by the depositories as on the cut-off date, i.e. 23rd September, 2016 shall be entitled to avail the facility of voting through e-voting/postal Ballot/Venue of the meeting. EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013 As per Section 23 of the Sick Industrial Companies (Special Provisions) Act, 1985 ( the Act), if the accumulated losses of an Industrial Company as at the end of any financial year have resulted in erosion of fifty percent or more of its peak net worth during the immediately preceding four financial years, the said Company falls within the definition of Potential Sick Company. In terms of requirement of Section 23 of the Act., Such Company is required: To report the fact of such erosion to the Board for Industrial and Financial Reconstruction and to hold an Extra Ordinary General Meeting of its shareholders for considering such erosion within sixty days from the date of adoption of its duly audited financial statements at the Annual General Meeting. As per the Audited Accounts of the Company for the financial year ended 31st March, 2016, which shall be laid before the members at the Annual General Meeting to be held on 30th September, 2016 and which the Board expects to be approved and adopted by the members at the said Annual General Meeting, the accumulated losses of your Company as at 31st March, 2016 amounting to Rs 1.09 crores has resulted in erosion of more than 50% of its peak net worth during the preceding four financial years immediately preceding the financial year ended on 31st March, 2016. Hence the Company will be defined as Potential Sick Company under the Act. In terms of requirement of Section 23 of the Act, the Board of Directors in their meeting held on 12th August, 2016, had also approved the Report to such erosion and revival measures being taken, which is explained in the enclosed Report of the Board of Directors forming part of the Notice. Accordingly, the said report of the Board of Directors on such erosion and revival measures being taken as per Section 23 of the Act is being placed before the members for their consideration and noting. The Board recommends consideration of the proposed resolution for your approval as an Ordinary Resolution. By Order of the Board Avinash Jajodia Date: 12 th August, 2016 (DIN 00074886) Place: Mumbai Chairman & Managing Director

04 Chase Bright Steel Limited Annexure to the Extra Ordinary General Meeting to be held on 30th September, 2016 REPORT OF BOARD OF DIRECTORS TO THE SHAREHOLDERS OF THE COMPANY UNDER SECTION 23(1)(b) OF THE SICK INDUSTRIAL COMPANIES (SPECIAL PROVISIONS) ACT, 1985 To The Members Chase Bright Steel Ltd. As required under Section 23(1)(b) of the Sick Industrial Companies (Special Provisions), Act, 1985 ( the Act ), a Report of the Board of Directors on the erosion of more than 50% of its peak net worth during the preceding four financial years immediately preceding the financial year ended on 31st March, 2016 and the causes and steps taken for revival thereof, is being submitted to the Members of the Company. The Board of Directors in its meeting on 24th May, 2016 had approved the audited financial statements of the Company for the year ended 31st March 2016. In terms of the provisions of the Act, the Company s accumulated losses (after setting of other reserves) stood at Rs1.09 crores, against the peak net worth of Rs. 1.74 crores in the immediately preceding 4 (four) financial years, Hence the Company will be defined as a Potential Sick Company under the Act. Reference to Board for Industrial and Financial Reconstruction (BIFR) On the basis of the audited accounts for the financial year ended 31st March, 2016, the accumulated losses (after setting off other reseves) up to that date stands at Rs.1.09 crores, thereby eroding the peak net worth of the Company by more than 50%. The Company, therefore, has to report this fact to BIFR under Section 23 of the Act. The Board of Directors in their meeting held on 12th August 2016 analyzed the various reasons for such erosion and has come to the conclusion that the situation is controllable and further erosion in the net worth of the Company may be avoided by the various remedial measures being taken by the management of the Company. The major causes of erosion of net worth and the remedial measures taken / to be taken are explained below: With accumulated losses of Rs. 1.09 crores at the end of the financial year, resulting in erosion of over 50% of peak net worth during the immediately preceding four financial years, we regret to inform that Your Company has become a Potential Sick Company within the meaning of Section 23 of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). The Board in its meeting held on 12th August, 2016 has reviewed the causes for such erosion and the reasons amongst others which adversely affected the company s performance are; 1. Weak demand for the products manufactured by the Company due to overall slowdown in the economy. 2. Weak export demand for the products manufactured by the Company 3. Crash in prices of Stainless Steel products due to heavy imports from China. 4. Additional demand for NMMC Cess and LBT of more than ` 75 lakhs 5. Slow recovery of amounts due from Debtors resulting into additional requirements of funds and additional interest costs. 6. Interest burden on secured loans. 7. Higher cost of production due to levy of Cess and LBT.

05 Steps Taken for Revival The Company is implementing various measures for improvement of the performance in consultation with all concerned parties which is expected to result in improved turnover and profitability. The Company is in the process to reduce the debt burden which will result in lower interest burden. Also the Company is in process to add more value added products in its product range and cater to OEM customers for better margins and profitability. The Board after considering the various steps implemented and/or to be undertaken for improvement of performance of the Company is confident/optimistic that the Company would be able to implement effective measures in normal course of business and revive the Company. Accordingly, the financial statements for the Financial Year 2015-16 has been prepared on a going concern basis. In the meanwhile, the shareholders are requested to note the fact of such erosion in the peak net worth. The Board of Directors of the Company is in the process of making a report of such erosion to the Board for Industrial & Financial Reconstruction in the prescribed Form C, in compliance with the provision of Section 23(1)(a)(i) of the above referred Act. Pursuant to Section 102(1) of the Act, the extent of shareholding of Directors, Key Managerial Personnel and their relatives in the Company is provided below: Name of the Director/KMP/Relative Extent of shareholding in the Company (%) Avinash Jajodia 59.88 Manjudevi Jajodia 0.03 Sonali Jajodia 2.63 Shamoli Malhotra 0.03 Swan Investment & Trading Pvt. Ltd. 6.32 Rose Investment Private Limited 2.69 Chase Enterprises Pvt. Ltd. 0.001 None of the Directors /Key Managerial Personnel of the Company/ their relatives are, in any way, concerned or interested, financial or otherwise, in the said resolution. By Order of the Board Avinash Jajodia Date: 12 th August, 2016 (DIN 00074886) Place: Mumbai Chairman & Managing Director

06 Chase Bright Steel Limited INSTRUCTIONS FOR E-VOTING The Business of this meeting may be transacted through electronic system and the Company is providing facility for voting by electronic means. i) The process and manner of voting by electronic means, the time schedule including the time period during which the votes may be cast and all other necessary instructions and information in this respect have been given in a separate sheet attached hereto forming part of this notice. ii) iii) iv) The company has appointed M/s. Leena Agrawal, Practising Company Secretary (FCS No. 6607 and CP No. 7030) as scrutinizer to the e-voting process in a fair and transparent manner. The Scrutinizer shall, within a period not exceeding three (3) working days from the conclusion of the e-voting period, unlock the votes in the presence of at least two (2) witnesses, not in the employment of the Company and make a Scrutinizer s Report of the votes cast in favour or against, if any, forthwith to the Chairman of the Company. In case of those members, who do not have access to e-voting facility they can be the assent / dissent form sent herewith or can be downloaded from our website www.chasebright.com and convey their assent/ dissent to each one of the items of business to be transacted at the ensuing EOGM and send the form to reach Smt. Leena Agrawal, Scrutinizer appointed by the Company. v) Members can choose either one of the two options, namely e-voting or voting through physical assent / dissent form. In case the votes are casted through both the formats, then votes casted through e-voting shall stand cancelled and those votes casted through physical assent /dissent form would be considered, subject to the assent /dissent form being found to be valid. vi) Subject to the receipt of sufficient votes, the resolution shall be deemed to be passed at the Extra Ordinary General Meeting of Company scheduled to be held on Friday, 30th September, 2016. At the said Extra Ordinary General Meeting, the Chairman shall declare the results of voting on the resolutions set out in the Notice. The results declared alongwith the Scrutiniser s Report shall be placed on the Company s website www.chasebright.com, within two days of the passing of the resolutions at the Extra Ordinary General Meeting of the Company and shall also be communicated to the Stock Exchange. By Order of the Board Avinash Jajodia Date: 12 th August, 2016 (DIN 00074886) Place: Mumbai Chairman & Managing Director

07 SHAREHOLDER INSTRUCTIONS FOR E-VOTING The instructions for shareholders voting electronically are as under: (i) The voting period begins on <27.09.2016 Start Time: 9.00A.M> and ends on <29.09.2016 End Time 5.00P.M>. During this period shareholders of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off date (record date) of <23.09.2016>, may cast their vote electronically. The e-voting module shall be disabled by CDSL for voting thereafter. (ii) Shareholders who have already voted prior to the meeting date would not be entitled to vote at the meeting venue. (iii) The shareholders should log on to the e-voting website www.evotingindia.com. (iv) Click on Shareholders. (v) Now Enter your User ID a. For CDSL: 16 digits beneficiary ID, b. For NSDL: 8 Character DP ID followed by 8 Digits Client ID, c. Members holding shares in Physical Form should enter Folio Number registered with the Company. (vi) Next enter the Image Verification as displayed and Click on Login. (vii) If you are holding shares in demat form and had logged on to www.evotingindia.com and voted on an earlier voting of any company, then your existing password is to be used. (viii) If you are a first time user follow the steps given below: PAN Dividend Bank Details OR Date of Birth (DOB) For Members holding shares in Demat Form and Physical Form Enter your 10 digit alpha-numeric PAN issued by Income Tax Department (Applicable for both demat shareholders as well as physical shareholders) Members who have not updated their PAN with the Company/Depository Participant are requested to use the first two letters of their name and the 8 digits of the sequence number in the PAN field. In case the sequence number is less than 8 digits enter the applicable number of 0 s before the number after the first two characters of the name in CAPITAL letters. Eg. If your name is Ramesh Kumar with sequence number 1 then enter RA00000001 in the PAN field. Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy format) as recorded in your demat account or in the company records in order to login. If both the details are not recorded with the depository or company please enter the member id / folio number in the Dividend Bank details field as mentioned in instruction (iv) (ix) After entering these details appropriately, click on SUBMIT tab.

08 Chase Bright Steel Limited (x) Members holding shares in physical form will then directly reach the Company selection screen. However, members holding shares in demat form will now reach Password Creation menu wherein they are required to mandatorily enter their login password in the new password field. Kindly note that this password is to be also used by the demat holders for voting for resolutions of any other company on which they are eligible to vote, provided that company opts for e-voting through CDSL platform. It is strongly recommended not to share your password with any other person and take utmost care to keep your password confidential. (xi) For Members holding shares in physical form, the details can be used only for e-voting on the resolutions contained in this Notice. (xii) Click on the EVSN for the relevant <Chase Bright Steel Limited> on which you choose to vote. (xiii) On the voting page, you will see RESOLUTION DESCRIPTION and against the same the option YES/ NO for voting. Select the option YES or NO as desired. The option YES implies that you assent to the Resolution and option NO implies that you dissent to the Resolution. (xiv) Cliick on the RESOLUTIONS FILE LINK if you wish to view the entire Resolution details. (xv) After selecting the resolution you have decided to vote on, click on SUBMIT. A confirmation box will be displayed. If you wish to confirm your vote, click on OK, else to change your vote, click on CANCEL and accordingly modify your vote. (xvi) Once you CONFIRM your vote on the resolution, you will not be allowed to modify your vote. (xvii) You can also take out print of the votes cast by clicking on Click here to print option on the Voting page. (xviii) If a demat account holder has forgotten the same password then Enter the User ID and the image verification code and click on Forgot Password & enter the details as prompted by the system. (xix) Shareholders can also cast their vote using CDSL s mobile app m-voting available for android based mobiles. The m-voting app can be downloaded from Google Ply Store. iphone and Windows phone users can download the app from the App Store and the Windows Phone Store respectively on or after 30th June 2016. Please follow the instructions as promoted by the mobile app while voting on your mobile. (xx) Note for Non Individual Shareholders and Custodians Non-Individual shareholders (i.e. other than Individuals, HUF, NRI etc.) and Custodian are required to log on to www.evotingindia.com and register themselves as Corporates. A scanned copy of the Registration Form bearing the stamp and sign of the entity should be emailed to helpdesk.evoting@cdslindia.com. After receiving the login details a compliance user should be created using the admin login and password. The Compliance user would be able to link the account(s) for which they wish to vote on. The list of accounts linked in the login should be mailed to helpdesk.evoting@cdslindia.com and on approval of the accounts they would be able to cast their vote. A scanned copy of the Board Resolution and Power of Attorney (POA) which they have issued in favour of the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify the same. (xxi) In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked Questions ( FAQs ) and e-voting manual available at www.evotingindia.com, under help section or write an email to helpdesk.evoting@cdslindia.com.