SOBHA MYKONOS SUB COMMITTEE

Minutes of Annual General Meeting 2019

The Sobha Mykonos Sub Committee AGM was held Saturday, 03-August-2019 10:30 AM at MPH2, Sobha
City. Due to lack of quorum at the scheduled time 10:30 AM, the President adjourned the meeting by 30
minutes. The meeting was called to order only after the Secretary proposed and sought the approval of the
General Body to commence the meeting with those members present at the meeting. The General body
approved this. The meeting began at 11:00 AM with 47 members signing up. The list of attendees is
provided as addendum to these minutes.

Achievement Summary for the year 2018-19

The meeting commenced with the President, Mr. Mohandas Nair and Secretary, Mr. Vincent Chandy,
providing the accomplishments of the Sobha Mykonos Sub Committee as follows:

• Migration to KAOA 1972 and completion of opening bank accounts.

• Completion of long-awaited security cabin which then resulted in completion of the CCTV project
• Completion of drilling new bore well and repair of 2 bore wells
• Migration to BIG, FMD service provider from Sobha limited.
• AMC issued to all our important assets like lifts, DG’s, fire and safety.
• Regular collection of maintenance charges.
• Installation of Big Basket vending machines for the convenience of residents.
• Collection of monthly facilitation charges from vendors like ACT, Tata SKY for using our premises

The President and the Secretary thanked the Mykonos FMD team and the respective MCs for their efforts
and contribution for the year.

Achievements of the Green House Team

Ms. Sahana outlined the achievements of the Green House team as follows:

• Waste Segregation at source: Wet, Dry & Reject as per BBMP guidelines.
• 2BIN1BAG implemented.
• Integration of waste management guidelines as part of move-in process.
• Certified vendor (Medicare) for disposal of Bio medical waste.
• Dry waste vendor (Greentrees) for disposal dry waste and e-waste.
• E-waste collection drive on regular basis.

She also provided the expectations from the community residents and owners as follows:

• Follow the waste segregation (2Bin-1Bag) process beyond basics

• Refrain from using plastic bags/covers (Banned by BBMP). Carry reusable ones for all your shopping
• Re-use the RO UV reject water for watering plants, mopping, bathroom flushing, car washing
• Take extra effort to save our precious water
• Help to keep Sobha City clean from littering
• Embrace sustainable models to address sanitary issues
• Disposal of pet waste is your responsibility
• Be supportive to our HK staff because they clean our mess
• Do not pour used cooking oil in the kitchen drain

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Achievements of the Security Team

Mr. Sanjeev Kittur gave a brief of the achievements of the Security team as follows:

• Reviewed the headcount and cost of existing security and worked on a cost sharing model with
Santorini and Aristos
o Cost reduced ~Rs. 50,000 p.m
o Better service at no revision in cost from Jul 2017
• For better Traffic and Security management MAS was introduced
• MyGate was implemented to monitor and control the vendor/visitor/daily help movement
• ERT (Lift/Fire) training was conducted.
• CCTV is being monitored by the existing security independently.
• Quick response and resolution to security lapses.
• Working closely with FMD to ensure Move-In/Move-out process happens smoothly
• Monthly reviews with G4S team

Mr. Ravinath (4093) suggested if we could follow an automated process like Casa Serenita and reduce the
cost of the security.

Mr. Ravinath also mentioned that the signages in the basement and ground floor are not apt and need to be
improved. He has also agreed to provide his inputs/help as required.

A few concerns on security not allowing vendors to visit households were brought forward as below:

- Mr. Suresh (6103) – Vendors not allowed on Saturday and Sunday

- Mr. Satyanarayan (6101) – ROUV water equipment man was allowed only without tools
- Ms. Anitha (1101), Shelly (7124) – Airtel people not allowed even though individuals are making
payment for respective subscriptions with common dish.
- Bharat (4112) – Furniture vendor was not allowed to bring a new wooden cot

Mr. Sanjeev mentioned that the issues have been resolved and instructions have been provided to prevent
recurrence.

Mr. Surajit (3032) mentioned that these guidelines and rules should be clearly written and place with
security and also circulated.

Mr. Shelly (7124) also mentioned that communication on the location of Fire Drill was not clear. He also
mentioned that we should take a call on reinstating the security at the entrance from the main road.

To a question from Mr.Sudhir (4054) on what level of access the security has to the CCTV footage, Mr.
Sanjeev mentioned that security staff could only view and admin access is only with selected MCs.

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Annual Financial Report for Financial Year 2018-19

Ms. Vidhya Srinivasan, Treasurer provided the Annual Financial Report for the year 2018-19.

Ms. Vidhya provided an update on the Finance teams achievements as follows:

• Taking over all expenses from Sobha Limited and creating a reduction of 15% on FMD charges
• Control on spend as every expense is reviewed and scrutinized before payment.
• Focus on reducing expenses and increase in income resulting in reducing maintenance charges

Update on the Corpus Fund

Initial Corpus Fund (Rs. 2 L x 448) Rs. 8.96 Cr

Corpus Fund with Sobha Limited as of 31.03.18 Rs. 7.54 Cr
Corpus Fund with Sobha Limited as of 31.07.19 Rs. 5.80 Cr
FD with the Banks Rs. 2.63 Cr
Maintenance Receivables Rs. 19 L
Bank Balance Rs. 57 L
Total Approximate Rs. 9.19 Cr

Ms. Vidhya showed the members the email received from Balaji of Sobha Limited which mentions that the
process of returning the Corpus to Mykonos will begin in September 2019. Mr. Vincent mentioned that the
Mykonos MC has been intensely following up with Sobha Limited on this. Some members expressed their
doubts on the email from Sobha Limited.

Focus Areas for upcoming months:

Vidhya provided the focus areas for the finance team as follows:

• Corpus Fund from SL to Mykonos Account.

• Virtual Account to be opened for maintenance.
• Apna Complex – Gateway payment to be enabled.
• Increase the Revenues and Reduce the Expenditure, sustain the maintenance cost.

Mr. Vijay (5042) offered to provide help on the Virtual Account as required.

Statement of Accounts for FY 2018-19

The Audited Statement of Accounts for the year 2018-19, that included the Income and Expenditure
statement and Balance Sheet was shared with the owners a few weeks back and no specific questions were
brought up.

Ms. Vidhya explained the Income and Expenditure statement of the Association for the year 2019-20.

There were questions of how we can reduce income tax of around 25 lakhs. Mr. Srinivasan (4012) explained
that the Income tax is based on the TDS deducted against our earning from FD Interest and cannot be
reduced.

The Balance Sheet was displayed and there was a change to the Balance Sheet proposed. The Corpus
Amount Receivable (amounting to Rs. 5.83 Cr) shown under Current Assets was removed from the Balance
Sheet. This was to provide the flexibility to move this amount to the 1972 account as the above statement
belongs to 1960.

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Ms. Pushpa (3021) had a question as to why our bank account was not with a nationalized bank as required
by the bye-laws. The secretary clarified that the KSRA 1960 Bye laws permitted FD's in Nationalized or
Scheduled Banks under the RBI.

Proposed Budget for FY 2019-20

Vidhya presented the proposed budget for the coming year to the members present.

The Budget reflected an amount of Rs. 36 Lakhs as provision to Common Area Electricity. Ms. Pushpa (3021)
had a question on how the figure was arrived at and mentioned that the amount should not be paid to
Sobha Ltd. Ms. Vidhya explained that this was based on estimated only. Mr. Vincent explained that Sobha
Limited had been mentioning that they will back charge based on a 3-month average, it did not mean we
will pay them, but we still need to provision the same.

Mr. Ravinath (4093) was keen to know on the process followed to shortlist BIG as a vendor for our
Housekeeping and other services. Secretary agreed to show him the documents at the office at a mutually
convenient time.

Ms. Swathi (5042) enquired about steps taken to implement Rain Water Harvesting (RWH) in Mykonos, to
which Mr. Vincent responded that Mykonos does have RWH implemented and the tank capacity is around 1
lakh litres.

Appointment of Auditor for FY 2019-20

The proposal to appoint M/s. ANRV Associates was brought forward and discussed. M/s. ANRV Associates
are our current auditors and are willing to continue for the Accounting Year 2019-20 on a remuneration of
Rs. 44,000. An additional remuneration of Rs.15,000 will be paid for the audit conducted for the year 2019-
20 for the KSRA 1960 entity.

Ratification of CCTV and Borewell expenses

Mr. Vincent explained to the members of how the need to have a CCTV was considered and these have been
discussed in previous meetings with the members. The cost incurred was about 25 lakhs.

RESOLVED THAT the General Body hereby approves the expenditure incurred for the supply, installation and
commissioning of CCTV system to an extent of Rs 24.17 Lakhs.

Proposed by: Mr.Shelly (7124) ; Seconded by Mr. Himangka (1094)

The committee also spent around 4 lakhs to dig a borewell. To a question that this borewell was not yielding
any water, Mr. Vincent clarified that out of 6 borewells only 2 are not functional and the remaining 4,
including the new one, are yielding.

RESOLVED THAT the General Body hereby approves the expenditure incurred for the Borewell digging to an
extent of Rs 3.79 Lakhs.

Mr. Ravinath (4093) brought up a concern on how this committee formed under the 1960 KSRA could
continue to operate under KAOA 1972. After discussions, Mr. Himangka (4094) proposed that the existing
committee continue as such and this was seconded by Jino (1112). This was put to vote, and the General
Body approved the same with vote count of 24 – in favour and 14 – not in favour

RESOLVED THAT the General Body hereby approves the existing Managing Committee of KSRA 1960 to
continue under KAOA 1972 until the end of its term.

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Resolution of the statement of Accounts, Budget and Appointment of Auditor:

The following resolutions were approved by the General Body.

RESOLVED THAT the Audited Statements of the Association for the year ended on 31st March 2018 along
with the reports of the Managing Committee and the Auditors thereon, be and they are hereby received and
approved.

RESOLVED THAT the Budget of the Association for the period April 2019 – March 2020, including the
Estimates of Receipt and Expenditure be and they are hereby approved and adopted.

RESOLVED THAT M/s. ANRV ASSOCIATES hereby appointed as Statutory Auditors of the Association for the
year 2019-20.

Proposal for Painting and Tiling

Mr. Vincent put forward to the General Body a proposal to carry out painting and Tiling for the major areas
in the basement, Ground Floor and 1st Floor. This was proposed at a cost of Rs. 12 Lakhs.

Mr. Vijay (5042) asked if we had received quotes for same and Mr. Vincent clarified that these were only an
estimate.

The General Body was of the opinion to that the committee should get three or more quotes in this regard
and then get back to the AGM for approval.

Proposal for installation of Water Meters

Mr. Dinesh explain the proposal for implementation of water meters. The proposal covered advantages of
having to measure the usage of water and charge as per usage and implementation on an average of 3
meters per household coming to about 37 lakhs for installation of meters. There would be an additional Rs.
40 per meter every month for each household as service charges.

Mr. Vijay (5042) asked if we could work with the vendor to get a “gain share” proposal – Sure, will check.

Mr. Surajit (3032) enquired if this would reduce the maintenance charges – Yes, as the water charges are
currently part of maintenance.

Mr. Nithin (8054) asked if we had other competitive quotes – No, just this proposal at this time.

Mr. Ravinath (4093) mentioned that Serenita tried to implement the water meters but could not due to high
cost and mentioned that this was not a viable option.

The General Body required that we get more quotations and options in the water meter implementation
and get back.

Request for Playground for Kids

Mr. Suresh (6103) brought up the topic of providing a playground for the kids of Mykonos. Some members
mentioned that this was not in the original plan and hence not necessary to be considered. A few other
members were concerned that having kids play area in the Mykonos space will be a serious safety issue to
passersby. Vincent explained that Lt.Gen Mathew Mammen pointed out that the area was common to all of
Sobha City and hence could not be converted or changed. After much deliberation on this topic, members

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have requested the MC to look at the visitor’s car park area close to the OWC which can be converted into a
playground for children.

Other discussion points:

Mr. Ravinath (4093) mentioned that the communication should be improved by the committee. He also
mentioned that we should increase the head count of the committee and divide into sub-groups for better
management.

Mr. Srinivas (1014) brought up the topic on why the committee was following bye-laws are per the KAOA
1972 Act. Based on the discussions that followed, Mr. Vincent clarified that the General Body had just
approved that the MC can continue. Mr. Ravinath mentioned that when Serenita went into 1972, all the
non-registered owner members had quit the committee and any such members on the current committee
should do the same. Mr. Vincent clarified that he took this position as a secretary based on the committee’s
request since Sanjay had resigned. Mr. Ranjith (2114) mentioned that the current committee be dissolved
and come up with fresh elections. Secretary asked the members to point out a single reference in the DOD
bye laws or in the Act & Rules that mentions "reconstitution of the MC".

Mr. Karthikeyan (6042) mentioned that the General Body had just 38 people and it is not apt that we cannot
pass resolutions.

The meeting concluded with thanks from the President.

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List of Attendees:

B-1014 Mr. Srinivasa Rao Talla D-4074 Mr. Venugopal Perumbilavil

C-1021 Mr. L N Srinivasan C-4093 Mr. Ravinath Manhacheri
D-1022 Mr. Sanand M N C-4112 Mr. Bharat Agarwal
C-1041 Mr. Raghuveer Thirunakarasu D-4141 Mrs. Anita Sahoo
D-1052 Mr. Satya Prakash Singh D-5041 Mrs. Anima Sahoo
C-1081 Mr. Uday Vasant Mannur C-5042 Mr. Vijay Iyer
D-1083 Mr. Tabraz Shariff C-5043 Mr. Channakeshav. Nagarhalli
D-1093 Mr. Vincent Paul Chandy C-5053 Mr. Harikumar Sasidharan
C-1094 Mrs. Kuntala Goswami D-5054 Mr. Hitesh Soni
C-1101 Mr. Shridhar K Algudkar C-5113 Mr. Purushothaman N
D-1103 Mr. Dibash Moni Das D-6043 Mr. P Karthikeyan
D-1122 Mr. Jino Philip Joseph D-6052 Mrs. Seema Deepak Prabhu
D-1123 Mrs. Shobhana Dhruvakanth Shenoy D-6053 Mr. Arojit Roychowdhury
B-2013 Mr. Trilok C Gangwar D-6063 Mrs. Rekha Rani Pattanakandi
D-2114 Mr. K P Ranjith C-6091 Mr. Roshan Lawrence
C-3021 Mr. Arvind Kapanayya Virupakshappa C-6101 Mr. Sathyanarayanan R
D-3032 Mr. Surajit Mazumder D-6103 Mr. Suresh Mahadev Khadakbhavi
C-3104 Mr. Sanjeev Kittur C-6121 Mr. Mohandas Chundakadu
D-3143 Mrs. Mythyly Bisa C-6124 Mrs. Sapna Ajay Singh
A-4012 Mrs. Lalitha Srinivasan C-6133 Mrs. Bibha Rani
C-4032 Mr. A Dinesh Premchandran C-7043 Mr. Ajay Kumar Jain
C-4043 Mr. Sanjeev Swarup Agarwal C-7112 Mr. Chundakat Santosh Kumar
D-4054 Mr. Sudhir Kumar D-7124 Mr. Shelly Garg
D-4064 Mr. Sanjay Gopal Menon E-8034 Mr. Kiran Kumar B.K
D-4071 Mr. Johns Davis D-8053 Mr. Ramakanth Nayak
C-4073 Mr. Ramanath V Pai C-8054 Mr. Nitin Madaan