To the Members,
Your Companys Directors have pleasure in presenting before you the 61st Annual Report
of the Company together with the Audited Financial Statements for the Financial Year (FY)
ended 31st March, 2023.
FINANCIAL SUMMARY
Standalone Financial Performance for the year ended March 31, 2023 is summarized below:
Particulars |
Rs. in lakhs |
Rs. in lakhs |
|
Financial year ended March 31, 2023 |
Financial year ended March 31, 2022 |
Revenue from Operations |
196.46 |
-- |
Other Income (net) |
2410.33 |
370.87 |
Total Income |
2606.79 |
370.87 |
Less: Operating Expenditure (Employee benefit expenses) |
(97.89) |
(50.37) |
Less: Finance costs |
(1239.38) |
(352.59) |
Less: Depreciation & amortization expense |
(281.82) |
(78.47) |
Less: Other expenses (net) |
(2070.67) |
(148.68) |
Profit/ (Loss) before exceptional and Extraordinary items and tax |
(1082.97) |
(259.24) |
Exceptional Items |
-- |
- |
Profit/ (Loss) before Extraordinary items and tax |
(1082.97) |
(259.24) |
Extraordinary Items |
-- |
- |
Profit / (Loss) before tax |
(1082.91) |
(259.24) |
Tax expenses |
(274.56) |
9.98 |
Profit / (Loss) after tax |
(808.35) |
(249.26) |
Total Comprehensive Income for the period (Comprising profit/loss
from ordinary activities after tax and other comprehensive income for the period) |
1481.26 |
(249.26) |
DISCLOSURE UNDER COMPANIES ACT 2013:
Pursuant to the Section 134 of Companies Act, 2013 read with Companies (Accounts
Rules), 2014, the Company has complied with requirements and the details of which are as
disclosed here under:
(i) Annual Return
As provided under Section 92(3) and 134(3)(a) of Companies Act, 2013, the Annual Return
in form MGT-7 for the financial year 2022-2023 is available on the website of the Company
at www.arunahotels.com
(ii) Number of meetings of the Board
The Board of Directors met 6 (six) times during the financial year 2022-2023. The
details of the Board meetings and the attendance of the Directors are given in the
Corporate Governance Report, which forms part of this Annual Report.
(iii) Directors Responsibility Statement
Pursuant to Section 134(5) of the Companies Act, 2013, Board of Directors confirms
that:
a) in the preparation of the annual accounts for the financial year ended 31st March,
2023, the applicable accounting standards have been followed and that no material
departures have been made from the same;
b) they have selected such accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a true and fair view
of the state of affairs of the Company at the end of the financial year and of the profits
of the Company for that period;
c) they had taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of the Companies Act, 2013 for safeguarding the
assets of the Company and for preventing and detecting fraud and other irregularities;
d) they have prepared the annual accounts on a going concern basis;
e) they have laid down internal financial controls to be followed by the Company and
ensured that such Internal financial controls are adequate and were operating effectively;
and
(iv) Details in respect of frauds reported by the auditors:
During the year under review, the Auditors have not reported to the audit committee,
under Section 143 (12) of the Companies Act, 2013, any instances of fraud committed
against the Company by its officers or employees, the details of which would need to be
mentioned in the Boards report.
(v) A statement on declaration given by Independent Directors:
The Company has received necessary declarations from every independent Director under
Section 149(7) of the Companies Act, 2013, that he / she meets the criteria of
independence laid down in Section 149(6) of the Companies Act, 2013 and Regulation 25 of
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
(vi) Companys policy on Directors appointment and Remuneration:
Companys policy on directors appointment and remuneration including criteria for
determining qualifications, positive attributes and independence of a director and other
matters as per Section 178(3) of the Act has been disclosed in the Corporate Governance
Report, which forms part of the Boards Report and also is disclosed on Companys website
www.arunahotels.com
(vii) Explanation of Board on qualification of Statutory Auditors and Secretarial
Auditors, if any
The Auditors Report for the financial year 2022-2023 does not contain any
qualification, reservation or adverse remark. The Report is enclosed with the financial
statements in this Annual Report.
As required by the Listing Regulations, the Practicing Company Secretarys certificate
on Corporate Governance for the financial year 2022-2023 is enclosed as Annexure to this
Annual report. The certificate does not contain any qualification, reservation or adverse
remark, except that of few observations.
The Secretarial Auditors Report for the financial year 2022-2023 does not contain any
qualification, reservation or adverse remarks, except that of few observations. The
Secretarial Auditors Report is enclosed as Annexure to this Annual report.
(viii) Particulars of loans, guarantees or investments given or made by the Company
During the year under review, Company has not given any loan, guarantee or provided any
security and made any investments pursuant to section 186 of the Companies Act, 2013.
Also, the Company is engaged in the business of providing ‘Infrastructural
facilities(under Schedule VI of Companies Act, 2013), the provisions of Section 186 of
the Companies Act, 2013 pertaining to provision of Loans, Guarantees or Investments shall
not be applicable to the Company.
(ix) Related Party Transactions
In line with the requirements of the Act and the SEBI Listing Regulations, as amended,
the Company has formulated a policy on Related Party Transactions for identifying,
reviewing, approving and monitoring of Related Party Transactions and the same can be
accessed on the Companys website at www.arunahotels.com.
The related party transactions entered into with related parties during the year under
review were in the ordinary course of business and at arms length basis and in compliance
with the applicable provisions of the Companies Act, 2013 and SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015. All transactions entered into with the
related parties were approved by the Audit Committee.
None of the transactions with related parties are material in nature or fall under the
scope of Section 188 (1) of the Companies Act, 2013. The information on transactions with
related parties pursuant to Section 134(3)(h) of the Act read with Rule 8(2) of the
Companies (Accounts) Rules, 2014, as amended, in Form AOC-2 is not applicable to the
Company for the financial year 2022-2023 and hence the same is not provided.
(x) State of Affairs
During the year under review, Profit before tax was Rs. (1082.97) lakhs as against Rs.
(259.24) lakhs in the previous year. Also, during the year under review, the Company has
started its hotel operations under the name of “Pharos Hotels” which is a unit
of Aruna Hotels Limited with effect from November 30, 2022. The Company is in the process
of stabilizing its operations which might take a few quarters to post healthier numbers.
(xi) Transfer to Reserves
Due to Loss, the Company has not transferred or proposed to transfer any amount to the
Reserves for the year under review.
(xii) Dividend
As the Company has incurred loss in the year under review, after considering the
relevant circumstances, the Board of Directors has decided that it would be prudent, not
to recommend Dividend to its shareholders.
(xiii) Material changes and commitments, if any, affecting the financial position of
the company which have occurred between the end of the financial year of the company to
which the financial statements relate and the date of the report
There are no material changes and commitments affecting the financial position of the
Company between the end of the financial year i.e., 31st March, 2023 and the date of this
report.
(xiv) Conservation Of Energy, Technology Absorption, Foreign Exchange Earnings and
Outgo
1. Conservation of Energy
Considering the nature of activities in which the Company operates, energy consumption
is in accordance to the normal business practices and does not require any specific
installations. In its regular course of business, the Company is always vigilant to
conserve the resources and continuously implements measures required to save energy.
2. Technology Absorption
The business activities of the Company are not specific to any technology requirements.
Hence disclosures pertaining to conservation of energy and technology absorption are not
applicable to your Company during the year under review.
3. Foreign Exchange Earning and Outgo
There were no foreign exchange inflows or outflows during the year under review.
(xv) Risk Management Policy
Internal compliance and control policies and procedures of the Company and policies for
monitoring and evaluation of risk management systems to assess the effectiveness of those
systems in minimizing risks that may impact adversely on the business objectives of the
Company were established. At present, the Company has not identified any element of risk
which may threaten the existence of the Company. However, the Constitution of a Risk
Management Committee as per Regulation 21 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, is not applicable to the Company.
(xvi) Corporate Social Responsibility (CSR):
During the year under review, the provisions of Section 135 of the Companies Act, 2013
pertaining to the Corporate Social Responsibility are not applicable to the Company.
(xvii) Board Evaluation
Your Company has a structured framework for evaluation of the Individual Directors,
Chairperson and Board as a whole and its Committees. The Independent Directors at their
Meeting held on 13.02.2023 evaluated the performance of Non-Independent Directors, Board
as a whole, Chairperson and assessed the quality, quantity and timeliness of flow of
information between the Company Management and the Board that is necessary for the Board
to effectively and reasonably perform their duties.
The Board of Directors at their Meeting held on 12.08.2022 evaluated the performance of
all Independent Directors and the Board as a whole and its Committees and assessed the
quality, quantity and timeliness of flow of information between the Company Management and
the Board through circulation of questionnaires, to assess the performance on select
parameters relating to roles, responsibilities and obligations of the Board and
functioning of the Committees. The evaluation criteria were based on the participation,
contribution and guidance offered and understanding of the areas etc., which are relevant
to the Directors in their capacity as Members of the Board/Committees.
(xvii) Change in the nature of Business:
There is no change in the nature of Business during the year under review.
(xix) Directors and Key Managerial Personnel:
Directors:
The Board of Directors of Aruna Hotels Limited currently comprises of 5 (five)
Directors with a balanced combination of a. Executive, b. Non-Executive (Non-Independent)
and c. Independent Directors.
All the Independent Directors have furnished necessary declaration under Section 149(7)
of the Act and under Regulation 25(8) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015. As per the said declarations, they meet the criteria of
Independence as provided in Section149 (6) of the Act and the SEBI Listing Regulations.
All of them have confirmed that they have registered themselves with the Indian Institute
of Corporate Affairs under Rule 6 of Companies (Appointment and Qualification of Directors
) Rules, 2014 as amended.
(i) During the financial year 2021-2022, Mr. Suyambu Narayanan (DIN: 07718798) was
re-appointed as Independent Director of the Company (not liable to retire by rotation) to
hold office for a second term of five (5) consecutive years commencing from 10.02.2022 to
09.02.2027. The approval of shareholders was obtained through Postal ballot by means of
remote e-voting facility on 15.04.2022.
(iii) During the financial year 2021-2022, Mr. Radhaswamy Venkateswaran (DIN: 09532159)
was appointed as Managing Director of the Company for a period of 5 (five) consecutive
years commencing from 10.03.2022 to 09.03.2027 and the Shareholders of the Company have
given their approval through Postal Ballot by means of remote e-voting facility on
15.04.2022
(iv) During the year under review, Mr. R Rajkumar (DIN: 09702043) was appointed as an
Additional Director (Nonexecutive & Non-Independent) by the Board of Directors at
their meeting held on 12.08.2022 on recommendation of Nomination and Remuneration
Committee and the regularization of his appointment as Director (Non-Executive,
Non-Independent) of the Company was approved in the shareholders meeting (AGM 2022) held
on 23.09.2022.
(v) During the year under review, Mr. Rajakumar Kumaravelayetha Nadar (DIN: 05187894)
resigned from the post of Director (Non-Executive Non-Independent) with effect from
12.08.2022.
(vi) In accordance with provisions of Section 152 (6) of the Companies Act, 2013 and
the Articles of Association of the Company, Mr. R Muralidharan, Director (DIN: 07092976)
of the Company, retires by rotation at the ensuing Annual General Meeting and being
eligible, offers himself for re-election.
Key Managerial Personnel:
Pursuant to the provisions of Section 203 of the Companies Act, the Key Managerial
Personnel of the Company as on March 31, 2023 are:
a. Mr. Nagaraj P, Chief Financial Officer (CFO)
b. Ms. K. Lakshmi, Company Secretary
(xx) Statement regarding opinion of the Board with regard to integrity, expertise and
experience of the Independent Directors appointed during the year During the year
under review, no Independent Directors were appointed
(xxi) Subsidiary, Associates and Joint Ventures
Your Company has no subsidiary during the year or at any time after the closure of the
year and till the date of this report. Hence, a statement containing the salient features
of financial statements of the Companys subsidiaries in Form AOC-1 is not applicable.
Associates and Joint Ventures
Your Company has no Associates or Joint Ventures during the year or at any time after
the closure of the year and till the date of this report.
(xxii) Deposits
The Company has not invited or accepted any deposits during the year under review and
there are no deposits covered under Chapter V of the Companies Act, 2013 during the year
2022-2023, the details of which are required to be furnished.
(xxiii) Details of significant and material orders passed by the regulators or courts
or tribunals impacting the going concern status and companys operations in future:
During the year under review and as on date of the Report, the following are/were the
material orders passed by the Regulators and fine(s) that was/were imposed on the Company:
No impact on the going concern status and companys operations in future.
• During the year under review, Securities Appellate Tribunal (SAT) Review
Application No.86 of2022 and Miscellaneous Application No.1758 of 2022, Mumbai had been
dismissed vide order dated February 14, 20023
• As on the date of this report, the following shareholders of the Company were
alleged to have violated provisions of Regulation 3(2) read with Regulation 13 (1),
Regulation 29 (2) read with 29(3) and Regulation 10(5), 10(6) and 10(7) ofSEBI
(Substantial Acquisition of Shares and Takeover) Regulations, 2011 (SAST Regulations).
1. Balasubramanian Sivanthi Adityan
2. Sri Devi Agencies Private Limited
3. Chandramohan R
4. Anita Kumaran
5. Jayanthi Natarajan
6. Gay Travels Private Limited
7. Subasri Realty Private Limited
8. Rani Printers Private Limited
9. Sovereign Media Marketing Private Limited
10. Chithan V
The Said shareholders had availed the benefit of settlement process with SEBI in
respect of the Show Cause Notice issued dated 20.09.2022 under Rule 4(1) of SEBI
(Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 in the matter of Aruna
Hotels Limited by the Chief and General Manager & Adjudicating Officer, SEBI.
In relation thereto, the Company had submitted disclosures under Regulations 10(5),
10(6), 29(1) and 29(2) ofSEBI SAST Regulations for the inter se transfer as per Memorandum
of Compromise among the Promoters pertaining to the financial year 2015-2016.
Referring to the Application for availing settlement in terms of SEBI (Settlement
Proceedings) Regulations, 2018, SEBI on 23.05.2023 accepted the settlement proposal which
was filed by the said shareholders. The said application along with the Revised Settlement
Terms proposed by the said shareholders were examined by the Independent High Powered
Advisory Committee (HPAC) and recommended the specified proceedings be settled upon
payment of Rs.2,32,05,000/-. Upon consideration of the recommendation of the HPAC, SEBI
has in principle agreed to accept the terms of settlement recommended by the HPAC.
In acceptance thereof by SEBI, the shareholder M/s Subasri Realty Private Limited on
its behalf and on behalf of the other shareholders has accordingly paid amount of
Rs.2,32,05,000/- (Rupees Two Crores Thirty Two Lakhs and Five Thousand only) towards
Settlement fees.
In this regard, SEBI vide its Settlement order dated June 07, 2023 passed an Order such
that, in view of acceptance of the settlement terms and receipt of the Settlement amount
as above by SEBI, an instant adjudication proceedings initiated against the Applicants (as
above mentioned) vide SCN dated September 20, 2022 is disposed off in terms of Section
15JB of the SEBI Act read with Regulation 23(1) of the Settlement Regulations on the basis
of the settlement terms.
(xxiv) Internal Financial Control
The Company has a proper and adequate internal control system to ensure that all the
assets of the Company are safeguarded, to prevent and detect frauds and any other
irregularities, proper application of appropriate accounting policies and procedures to
ensure completeness of the accounting records, compliance with policies, rules and
regulations, timely preparation of reliable financial information and prevention or timely
detection of unauthorized acquisition, use or disposition of the Companys assets that
could have material effect on the financial statements
The Company has engaged a firm of external consultants for the internal audit function
to continuously monitor the effectiveness of internal controls.
(xxv) Maintenance of Cost Records
Maintenance of cost records and the requirement of Cost Audit under the provisions of
Section 148 (1) of the Companies Act, 2013 are not applicable to the Company.
(xxvi) Internal Complaints Committee
The Company has constituted an Internal Complaints Committee to prevent and prohibit
any form of sexual harassment at workplace and provide redressal for woman employees as
required under Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013. During the year, there was no event affecting any of the women
employees on account of any sexual harassment at the work place.
(xxvii) Proceedings under Insolvency and Bankruptcy Code, 2016
As on date of this report, Appeal vide Comp App (AT) (CH) (Ins) No. 68/2023 under
Insolvency and Bankruptcy Code 2016 is pending before the National Company Law Appellate
Tribunal (NCLAT)
(xxviii) the details of difference between amount of the valuation done at the
time of one time settlement and the valuation done while taking loan from the Banks or
Financial Institutions along with the reasons there of.] - Not applicable
(xxix) Capital Structure
During the financial year 2022-2023, there was no change in the Authorised Share
Capital of the Company and stood at Rs. 75 Crores divided into 6,70,00,000 (Six crores
seventy lakhs) equity shares of face value of Rs.10/- each and 8,00,000 (Eight lakhs)
Preference shares of Rs.100/- each constituting Redeemable Preference share capital of the
Company.
Paid Up Share Capital
During the financial year under review 2022-2023, the paid-up share capital of the
Company is Rs. 36,94,00,000 (Rupees Thirty Six Crores Ninety Four Lakhs Only) comprising
of 3,39,00,000 equity shares of Rs.10/- each and 3,04,000 Redeemable Preference Shares of
Rs.100/- each.
During the year under review, the Company has transferred a sum of Rs. 6,00,000/-
(Rupees Six Lakhs), being redemption amount of preference shares that remained unclaimed
to the Investor Education and Protection Fund (IEPF) Account. The Company has sent out
confirmations to preference shareholders and has received responses from few parties.
Preferably, the Company will be redeeming the share capital to the persons from whom it
had received confirmation. The Redemption amount of preference shares remaining unpaid or
unclaimed from parties will be transferred to Investor Education and Protection Fund under
section 205 of Companies Act, 2013.
During the year under review, the Company has neither issued any shares with
differential voting rights nor issued any sweat equity shares.
(xxx) Meetings of the Board
During the financial year under review, 6 (Six) Board Meetings were held and the gap
between two meetings did not exceed one hundred and twenty days. The said meetings were
held on 27.05.2022, 11.08.2022, 12.08.2022, 26.08.2022, 12.11.2022 and 13.02.2023.
Necessary quorum was present for all the meetings. Other details including the composition
of the Board and the Committee Meetings thereof held during the year under review (FY
20222023) are given in the Corporate Governance Report forming part of this Report.
Meeting of the Independent Directors:
During the year, one Meeting of Independent Directors was held on 13.02.2023. All the
Independent Directors were present.
Committees of the Board
A detailed note on the composition of the Board and its committees is provided in the
Corporate Governance Report section which forms part of this Annual Report.
(xxxi) Familiarization Programs for Independent Directors
In accordance with the requirements of Listing Regulations, 2015 and Schedule IV of the
Act, as amended, the Company has a programme to familiarize the Independent Directors of
the Company including in relation to the nature of industry in which the Company operates
and the roles, rights and responsibilities of the Independent Directors.
The Programme aim at enabling the Independent Directors to understand and keep them
updated on an ongoing basis about the significant changes which occur in the industry. Due
to this familiarization programs, it was concluded that the Board is able to take active
participation in the decision-making process and is equally involved in the affairs of the
Company.
Remuneration ratio of the directors / Key Managerial Personnel (KMP) / employees.
The information required pursuant to Section 197 read with Rule 5 of The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Companies
(Particulars of Employees) Rules, 1975, in respect of employees of the Company and
Directors is furnished hereunder:
S.No. |
Particulars |
Ratio |
1. |
the ratio of the remuneration of each director to the median
remuneration of the employees of the company for the financial year (i) Mr. Radhaswamy
Venkateswaran |
0.52:1 |
2. |
the percentage increase in remuneration of each director, Chief
Financial Officer, Chief Executive Officer, Company Secretary, or Manager, if any, in the
financial year |
10% |
3. |
the percentage increase in the median remuneration of employees in the
financial year |
Nil |
4. |
the number of permanent employees on the rolls of the company |
15 employees |
5. |
average percentile increase already made in the salaries of employees
other than the managerial personnel in the last financial year and its comparison with the
percentile increase in the managerial remuneration and justification thereof and point out
if there are any exceptional circumstances for increase in the managerial remuneration |
Nil |
*The ratio of the remuneration of Mr. Radhaswamy Venkateswaran, Managing Director to
the median remuneration of the employees calculated for a period of 12 months during the
FY 2022-2023
It is affirmed that the Remuneration is as per the Remuneration policy for the
Directors, Key Managerial Personnel and other employees adopted by the Company.
(xxxii) Policy on Vigil Mechanism (Whistleblower Policy)
The Company has formulated and established the necessary Vigil Mechanism (Whistleblower
Policy) for employees including Directors of the Company in confirmation with Section
177(9) of the Act and Regulation 22 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 to report genuine concerns about unethical behaviour. The
details of the policy have been disclosed in the Corporate Governance Report, which is a
part of this report and is also available on the website at www.arunahotels.com
(xxxiii) Auditors:
(a) Statutory Auditors:
At the 58thAGM held on 21st day of September, 2020, the members approved
appointment of M/s Bala & Co., Chartered Accountants, Chennai (Firm Registration No.:
000318S) as Statutory Auditors of the Company to hold office for a term of five years from
the conclusion of 58thAGM till the conclusion of 63 rd AGM (AGM 2025). The Statutory
Auditors Report for the financial year 2022-2023 on the financial statement of the
Company, forms part of this Annual Report.
The Statutory Auditors Report on the financial statements of the Company for the
financial year 2022-2023 does not contain any qualifications, reservations or adverse
remarks or disclaimer.
During the year under review, the Statutory Auditors of the Company have not reported
any fraud as specified under Section 143(12) of the Companies Act, 2013
(b) Internal Auditors:
In accordance with the provisions of Section 138 of the Companies Act, 2013 M/s. GSPU
& Associates, chartered Accountants (FRN :011266S), were appointed as the Internal
Auditors of the company for the financial year 2022-2023.
(c) Secretarial Auditors:
M/s J.Jothi & Associates, Practicing Company Secretaries (CPNo.17899), Chennai,
were appointed as secretarial auditors of the Company for the financial year 2022-2023, as
required under Section 204 of the Companies Act, 2013 to conduct the Secretarial Audit of
records and documents of the Company for financial year 2022-2023. The Secretarial Audit
Report in form no. MR-3 issued by the Secretarial Auditor for the financial year 2022-2023
is annexed hereunder.
For the financial year 2022-2023, the Company does not have any material unlisted
Indian subsidiaries. As such the requirement to attach secretarial audit reports of
material unlisted Indian subsidiaries pursuant to Regulation 24A (1) of SEBI Listing
Regulations is not applicable to the Company.
(xxxiv) Compliance with Secretarial Standards:
The Company has devised proper systems to ensure compliance with the provisions of all
applicable mandatory Secretarial Standards issued by the Institute of Company Secretaries
of India (ICSI) and that such systems are adequate and operating effectively.
(xxxv) Listing Requirements
Your Companys Equity shares are listed on the BSE Limited, Mumbai. Listing fees have
been paid to this Stock Exchange for the financial year 2022-2023.
(xxxvi) Dematerialization of Shares
The Companys shares are compulsorily traded in dematerialized form on the BSE Stock
Exchange. Equity Shares of the Company representing 91.44% of the Companys equity share
capital are dematerialized as on March 31, 2023. Under the Depository system, the
International Securities Identification Number (ISIN) allotted to the Companys shares is
INE957C01019.
(xxxvii) Corporate Governance
As per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the
Corporate Governance Report with Auditors Certificate thereon and Management Discussion
and Analysis Report are attached, which form part of this report.
(xxxviii) Management Discussion & Analysis Report
Management Discussion & Analysis Report for the year under review, as stipulated
under Regulation 34(2) of SEBI (Listing Obligations and Disclosure Requirements)
Regulations 2015 is annexed as annexure to this report. Acknowledgement
Your Directors take this opportunity to express their gratitude to Companys Bankers,
Suppliers, Government Departments and other business associates for their unstinted
support extended to the Company. Your Directors wish to place on record, their
appreciation of the efficient and dedicated services rendered by the employees at all
levels across the Company. We are sincerely grateful to all the shareholders for their
confidence, faith and support in the endeavours of the Company.
Date: 11.08.2023 |
On behalf of the Board of Directors |
Place: Chennai |
Sd/- |
Sd/- |
|
R Venkateswaran |
Suyambu Narayanan |
|
Managing Director |
Director |
|
DIN: 09532159 |
DIN: 07718798 |
+91-9892691696
