INDUSTRY STRUCTURE & DEVELOPMENT
India is one of the fastest growing markets in the world. Our Company is engaged in the
aviation industry mainly in the field of Passenger transport. The civil aviation sector
has played an important role in Indias economy. It provides fast and reliable mode of
transport across the Globe and is particularly important for many areas / places which are
not still connected by Rail or Road. With increasing globalization, this sector will play
a more significant role in integrating the Indian economy with the rest of the world.
The scene has changed drastically. The Indian middle class consumer is now dazzled by
an array of airlines offering lower fares and new aircraft and striving for better
services. The increase in demand for air transport depends on a number of factors, which
include rate of growth of the economy and fall in real prices of air services. The
Airlines operate at competitive margins. The utilization of capacity becomes another
important factor for determining the viability of air operators. The Air Transport plays
its role in accordance with its comparative advantage and it is necessary to remove the
bottlenecks affecting the Aviation Sector. Fuel is the largest component of cost of
Airline Sector.
Domestic Air Travel has turned costlier for Passengers in India. The recent wave of Air
Fare hikes happened with Indian Oil increasing aviation turbine fuel prices. The fare
hikes in many routes, even though the pricing of Aviation Turbine Fuel (ATF) is now on
import parity basis, the rate applicable for domestic operations continue to be
significantly higher than that of international operations. The high ATF cost for domestic
air transport increases the cost of operation and makes it unlivable even in areas where
it has comparative advantage over other modes of transport. Any hike in aviation turbine
fuel prices immediately impacts airline operations.
OPPORTUNITIES
The company is having experience and infrastructure in Aviation business
CHALLENGE & COMPETITION
Jagson Airlines Limited faces normal market competition from Public sector Airlines.
The Public Sector Airlines Companies are taking advantage of network in whole country and
the benefits available from the Government. Company is also facing challenges and
competition from new entrance from Private Sector, who may introduce Aircrafts with bigger
capacities. However Company is gearing up its operation to deal with the risks involved in
this Sector.
ENERGY CONSERVATION
Company is paying full attention for conserving of fuel and its utilization rate in the
aircrafts. Consumption rate of fuel in aircrafts are maintained near to rates prescribed
by manufacturers of aircraft and prevailing for aircrafts flown worldwide.
FOREIGN EXCHANGE EARNED
During the period under review, your Company has not earned any Foreign Exchange.
HUMAN RESOURCES
Industrial Relations were cordial & peaceful during the year. The Directors wish to
place on record the contribution and cooperation made by all Employees to deal with a
difficult period, its Customers and other Persons, Institutions for making their favorable
support associated with the Company had passed through last year.
POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION
The current policy is to have a balanced mix of executive and non-executive Independent
Directors to maintain the independence of the Board, and separate its functions of
governance and management. As on 31/03/2018, the Board comprises of 4 Directors, of which
1 is Chairman cum Managing Director, 2 are independent Directors and 1 is Executive/Women
and Promoter-Director
The policy of the Company on directors appointment, including criteria for determining
qualifications .positive attributes and other matters as required by the sub-section (3)
of Section 178 of the Companies Act,2013. The remuneration paid to the Directors is in
accordance with the remuneration policy of the Company.
DECLARATION BY INDEPENDENT DIRECTORS
The Company has received necessary declaration from each of the Independent Directors,
under Section 149(7) of the Companies Act, 2013 and Regulation 25 of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015.
BOARD EVALUATION
The Board carried out an annual performance evaluation of its own performance, the
Independent Directors individually as well as the evaluation of the working of the
Committees of the Board. The performance evaluation of all the Directors was carried out
by the Nomination and Remuneration Committee. The performance evaluation of the Chairman
and Non- Independent Directors was carried out by the Independent Directors.
SECRETARIAL AUDITOR
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company had
appointed M/s. Bibhabasu Chakraborty & Co, a firm of Company Secretaries in Practice
to undertake the Secretarial Audit of the Company. The report of the Secretarial Audit
carried out is annexed herewith as Annexure - VI. The report does not contain any
observation or qualification requiring explanation or comments from the Board under
Section 134(3) of the Companies Act, 2013.
RELATED PARTY TRANSACTIONS
All related Party Transactions (RPT) that were entered into during the financial year
were on arms length basis and in the ordinary course of business. The details of the same
has been annexed as Annexure - III with this report.
CHANGE IN ACCOUNTING POLICIES
Previous year figures have been re-arranged/re-grouped/re-cast, whenever it was
necessary, so that figure of the current year may become comparable with the previous year
figures.
Management Discussion and Analysis forms part of the Directors Report which is posted
to the Members of the Company.
CAUTIONARY STATEMENT
Statements made in Management Discussion and Analysis stating Companys projection
estimate may please be read as statements made within applicable Laws and Regulations and
actual results may differ from those expressed. The actual results depends on different
factors like prevailing economic situation in world economy and its impact on Indian
Economy, Inflation, Government Policies, Market and Supply Conditions, Tax Laws &
other Statutes, which may be applicable from time to time.
For & on behalf of the Board of Director of JAGSON AIRLINES LIMITED
Jagdish Pershad Gupta
Chairman
Place: New Delhi Date: 4th December, 2020
CERTIFICATE OF MANAGING DIRECTOR ON CODE OF CONDUCT AS PER CLAUSE D OF SCHEDULE V OF
SEBI (Listing Obligations and Disclosure Requirements), REGULATIONS, 2015
As provided under Regulation 26(23) of the SEBI (Listing Obligations and Disclosure
Requirements), REGULATIONS, 2015, the Board member and the senior management personnel
have confirmed compliance with the Code of Conduct for the coming years.
For & on behalf of the Board of Director of JAGSON AIRLINES LIMITED
Jagdish Pershad Gupta
Chairman
Place: New Delhi Date: :4th December, 2020
AUDITORS CERTIFICATE ON COMPLIANCE WITH THE CONDITIONS OF CORPORATE GOVERNANCE UNDER AS
PER CLAUSE E OF SCHEDULE V OF SEBI(Listing Obligations and Disclosure Requirements),
REGULATIONS,
To,
The Members of Jagson Airlines Limited,
1. We have examined the compliance of conditions of Corporate Governance by Jagson
Airlines Limited for the year ended on 31st March, 2017 as stipulated
Regulation 27(2) of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 of the said Company with the stock exchanges in India.
2. The Compliance of conditions of Corporate Governance is the responsibility of the
management. Our examination was limited to procedures and implementation(s) thereof,
adopted by the Company for ensuring the compliance of the conditions of the Corporate
Governance. It is neither an audit nor an expression of opinion on the financial
statements of the Company.
3. In our opinion and to the best of our information and according to the explanations
given to us, we certify that the Company has complied with the conditions of Corporate
Governance as stipulated in the above mentioned Listing Agreement.
4. We state that no investor grievances are pending for a period exceeding one month
against the company as per the records maintained by the Investors Grievance Committee.
5. We further state that such compliance is neither an assurance as to the future
viability of the Company nor the efficiency or effectiveness with which management has
conducted the affairs of the company.
For MADAN JHA & ASSOCIATES Chartered Accountants Firm Registration No.:
016288N) Madan Jha
Proprietor (Membership No.: 097041)
Place: New Delhi Date: 29/05/2020C
Annexure I FORM NO. MGT 9 EXTRACT OF ANNUAL RETURN As on financial year ended on
31.03.2018
Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the Company
(Management & Administration) Rules, 2014.
I. REGISTRATION & OTHER DETAILS:
| 1. CIN |
L63040HP1994PLC019011 |
| 2. Registration Date |
03/01/1994 |
| 3. Name of the Company |
JAGSON AIRLINES LIMITED |
| 4. Category/Sub-category of the Company |
Aviation Industry |
| 5. Address of the Registered office & contact details |
18B SDA COMPLEXKASUMPTI, SHIMLA, HIMACHAL PRADESH-171009 |
| 6. Whether listed company |
Yes |
| 7. Name, Address & contact details of the Registrar & Transfer Agent, if any. |
RCMC Share Registry P. Ltd. RCMC Share Registry P. Ltd. B-25/1, Okhla
Industrial Area, Phase-2,Near Rana Motors, Delhi -110020 |
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY (All the business activities
contributing 10 % or more of the total turnover of the company shall be stated)
| S. No. Name and Description of main products / services |
NIC Code of the Product/service |
% to total turnover of the company |
| 1 Aviation |
99642410 |
0.00 |
III. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY (All the business activities
contributing 10 % or more of the total turnover of the company shall be stated)
| SN Name and Description of main products / services |
NIC Code of the Product/service |
% to total turnover of the company |
| 1 Nil |
- |
0.00 |
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
(A) Category-wise Share Holding
| Category of Shareholders |
No. of Shares held at the beginning of the year[As on
31-March-2020] |
No. of Shares held at the end of the yearfAs on 31-
March-2019] |
% Change during the year |
|
Demat |
Physical |
Total |
% Of Total Share s |
Demat |
Physical |
Total |
% Of Total Shares |
|
| A. Promoters |
|
|
|
|
|
|
|
|
|
| (1) Indian |
|
|
|
|
|
|
|
|
|
| a) Individual/ HUF |
4,39,169 |
100 |
4,39,169 |
99.97 |
4,39,069 |
100 |
4,39,169 |
02.18 |
0.00 |
| b) Central Govt |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| c) State Govt(s) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| d) Bodies Corp. |
1,39,82,366 |
4500 |
1,39,86,866 |
99.96 |
1,39,82,366 |
4500 |
1,39,86,866 |
69.35 |
0.00 |
| e) Banks / FI |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| f) Anv other |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| Total shareholding of Promoter (A) |
1,44,21,435 |
4600 |
1,44,26,035 |
99.96 |
1,44,21,435 |
4600 |
1,44,26,035 |
71.53 |
0.00 |
| B.Public Shareholding |
|
|
|
|
|
|
|
|
|
| 1. Institutions |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| a) Mutual Funds |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| b) Banks /FI |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| c) Central Govt |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| d) State Govt(s) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| e) Venture Capital Funds |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| f) Insurance Companies |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| a) Fils |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| h) Foreign Venture Capital Funds |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| i) Others (specify) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| Sub-total (B)(1):- |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0.00 |
| 2. Non-Institutions |
|
|
|
|
|
|
|
|
|
| a) Bodies Corp. |
161790 |
23,200 |
184990 |
0.92 |
2,48,843 |
23,200 |
2,, 11,509 |
01.05 |
1.15 |
| i) Indian |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
| ii) Overseas |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
| b) Individuals |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
| i) Individual shareholders holding nominal share capital up to Rs. 2 lakh |
3035823 |
1313664 |
4349487 |
21.57 |
29,94,097 |
13,74,564 |
43,97,548 |
21.50 |
-0.11 |
| ii) Individual shareholders holding nominal share capital in excess of Rs 2 lakh |
832766 |
0.00 |
832766 |
4.13 |
679314 |
0.00 |
7,32,414 |
3.63 |
0.00 |
| c) Others (specify) |
|
|
|
|
|
|
|
|
|
| Non Resident Indians |
151231 |
223900 |
375131 |
01.86 |
1,46,534 |
2,32,400 |
3,82,7814 |
01.90 |
-1.32 |
| Overseas Corporate Bodies |
0 |
0.00 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
| Foreign Nationals |
0 |
0.00 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
| Clearing Members |
71 |
0.00 |
71 |
0 |
43,493 |
0 |
18,193 |
0.9 |
0.00 |
| Trusts |
500 |
0.00 |
500 |
0 |
500 |
0 |
500 |
0.00 |
0 |
| Foreign Bodies - D R |
0 |
0.00 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
| Sub-total (BX2):- |
40,99,081 |
16,43,864 |
57,42,945 |
71.37 |
41,12,781 |
16,27,164 |
57,42,945 |
28.47 |
-0.24 |
| Total Public Shareholding (B)=(B)(1)+(B)(2) |
40,99,081 |
16,43,864 |
57,42,945 |
71.37 |
41,12,781 |
1627,164 |
57,42,945 |
28.47 |
-0.24 |
| C. Shares held by Custodian for GDRs & ADRs |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Grand Total (A+B+C) |
1,85,20,516 |
16,48,464 |
2,01,68,980 |
91.82 |
1,85,34,216 |
16,34,764 |
2,01,68,980 |
100.00 |
-0.07 |
B) Shareholding of Promoter-
| S N Shareholders Name |
Shareholding at the beginning of the year |
Shareholding at the end of the year |
% change in sharehold ing during the year |
|
No. of Shares |
% of total Shares of the company |
%of Shares Pledged / encumbered to total shares |
No. of Shares |
% of total Shares of the company |
%of Shares Pledged / encumbered to total shares |
| 1 JagdishPershad Gupta |
4,24,729 |
2.94 |
0.00 |
4,24,729 |
2.94 |
0.00 |
0.00 |
| 2 Jagson International Limited |
4,500 |
0.03 |
0.00 |
4,500 |
0.03 |
0.00 |
0.00 |
| 3 Jagson International Limited |
1,39,82,366 |
96.92 |
0.00 |
1,39,82,36 6 |
96.92 |
0.00 |
0.00 |
| 4 Pradeep Gupta |
100 |
0.0006 |
0.00 |
100 |
0.0006 |
0.00 |
0.00 |
| 5 Ravinder Hora |
14,340 |
0.099 |
0.00 |
14,340 |
0.099 |
0.00 |
0.00 |
(C) Change In Promoters Shareholding (please specify, If there Is no change)
| SI. No. Particulars |
Shareholding at the beginning of the year |
Cumulative Shareholding during the year |
|
No. of shares |
% of total shares of the company |
No. of shares |
% of total shares of the company |
| At the beginning of the year |
14426035 |
71.53 |
14426035 |
71.53 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the
reasons for increase / decrease (e.g. allotment /transfer / bonus/ sweat equity etc.): |
Nil |
Nil |
Nil |
Nil |
| At the end of the year |
14426035 |
71.53 |
14426035 |
71.53 |
D) Shareholding Pattern of top ten Shareholders:(Other than Directors, Promoters and
Holders of GDRs and ADRs): (E) Shareholding Pattern of top ten Shareholders (other than
Directors, Promoters and Holders of GDRs and ADRs):
| SI No. For Each of the Top 10 Shareholders |
|
Shareholding at the beginning of the year |
Cumulative Shareholding during the year |
|
|
No. Of Shares |
% of total shares of the company |
No. of Shares |
% of total shares of the company |
| 1 RACHHPAL KAUR BAINS |
|
|
|
|
|
| At the beginning of the year -01/04/2017 |
|
195349 |
0.97 |
195349 |
0.97 |
| At the end of the year -31/03/2018 |
|
|
|
195349 |
0.97 |
|
|
|
|
|
|
| 2 SOMANI STOCK BROKING PVT.LTD. |
|
|
|
|
|
| At the beginning of the year -01/04/2017 |
|
68975 |
0.34 |
68975 |
0.34 |
| At the end of the year -31/03/2018 |
|
|
|
68975 |
0.34 |
|
|
|
|
|
|
| 3 ANIUIT SINGH |
|
|
|
|
|
| At the beginning of the year -01/04/2017 |
|
65975 |
0.33 |
65975 |
0.33 |
| At the end of the year -31/03/2018 |
|
|
|
65975 |
0.33 |
|
|
|
|
|
|
| 4 SABINA SRIVASTAVA |
|
|
|
|
|
| At the beginning of the year -01/04/2017 |
|
65852 |
0.33 |
65852 |
0.33 |
| At the end of the year -31/03/2018 |
|
|
|
65852 |
0.33 |
|
|
|
|
|
|
| 5 ArunParapovil |
|
|
|
|
|
| At the beqinninq of the year -01/04/2017 |
|
58000 |
0.29 |
58000 |
0.29 |
| 12/08/2018 |
Transfer |
981 |
0 |
58981 |
0.29 |
| 24/03/2017 |
Transfer |
3000 |
0.01 |
61981 |
0.31 |
| 31/03/2017 |
Transfer |
2510 |
0.01 |
64491 |
0.32 |
| At the end of the year -31/03/2018 |
|
|
|
64491 |
0.32 |
|
|
|
|
|
|
| 6 RAMESH KUMAR SOMANI |
|
|
|
|
|
| At the beqinninq of the year -01/04/2017 |
|
50000 |
0.25 |
50000 |
0.25 |
| At the end of the year -31/03/2018 |
|
|
|
50000 |
0.25 |
|
|
|
|
|
|
| 7 SEEMA DEVI BANSAL |
|
|
|
|
|
| At the beqinninq of the year -01/04/2017 |
|
48525 |
0.24 |
48525 |
0.24 |
| At the end of the year -31/03/2018 |
|
|
|
48525 |
0.24 |
|
|
|
|
|
|
| 8 OPTIMA SECURITIES INDIA PVT LTD |
|
|
|
|
|
| At the beqinninq of the year -01/04/2017 |
|
46790 |
0.23 |
46790 |
0.23 |
| At the end of the year -31/03/2018 |
|
|
|
46790 |
0.23 |
|
|
|
|
|
|
| 9 Ajay Gupta |
|
|
|
|
|
| At the beqinninq of the year -01/04/2017 |
|
42700 |
0.21 |
42700 |
0.21 |
| 12/08/2016 |
Transfer |
8597 |
0.04 |
51297 |
0.25 |
| 02/09/2016 |
Transfer |
100 |
0 |
51397 |
0.25 |
| 23/09/2016 |
Transfer |
250 |
0 |
51647 |
0.26 |
| 02/12/2016 |
Transfer |
50 |
0 |
51697 |
0.26 |
| 09/12/2016 |
Transfer |
3 |
0 |
51700 |
0.26 |
| At the end of the year -31/03/2018 |
|
|
|
51700 |
0.26 |
| 10 SIRISHA D A |
|
|
|
|
|
| At the beqinninq of the year -01/04/2016 |
|
39701 |
0.2 |
39701 |
0.2 |
| At the end of the year -31/03/2017 |
|
|
|
39701 |
0.2 |
|
|
|
|
|
|
F) INDEBTEDNESS -Indebtedness of the Company including interest
outstanding/accrued but not due for payment.
|
Secured Loans excluding deposits |
Unsecured Loans |
Deposits |
Total Indebtedness |
| Indebtedness at the beginning of the financial year |
|
|
|
|
| i) Principal Amount |
0 |
0 |
0 |
0 |
| ii) Interest due but not paid |
0 |
0 |
0 |
0 |
| iii) Interest accrued but not due |
0 |
0 |
0 |
0 |
| Total (i+ii+iii) |
0 |
0 |
0 |
0 |
| Change in Indebtedness during the financial year |
|
|
|
|
| * Addition |
0 |
0 |
0 |
0 |
| * Reduction |
0 |
0 |
0 |
0 |
| Net Change |
0 |
0 |
0 |
0 |
| Indebtedness at the end of the financial year |
|
|
|
|
| i) Principal Amount |
0 |
0 |
0 |
0 |
| ii) Interest due but not paid |
0 |
0 |
0 |
0 |
| III) Interest accrued but not due |
0 |
0 |
0 |
0 |
| Total (i+ii+iii) |
0 |
0 |
0 |
0 |
V. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL-
A. Remuneration to Managing Director, Whole-time Directors and/or Manager: I. From
Jagson Airlines Limited- for F.Y. 2019-20
| SN. Particulars of Remuneration |
Name of MD/ WTD/ Manager |
WTD/Women Director |
Manager |
Total Amount |
|
Mr. JagdishPershad Gupta, Chairman &Managing Director |
Ms. Ravinder Kaur Hora |
Nil |
|
| 1 Gross salary |
00 |
00 |
00 |
00 |
| (a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 |
00 |
00 |
00 |
00 |
| (b) Value of perquisites u/s 17(2) Income-tax Act, 1961 |
00 |
00 |
00 |
00 |
| (c) Profits In lieu of salary under section 17(3) Income- tax Act, 1961 |
00 |
00 |
00 |
00 |
| 2 Stock Option |
00 |
00 |
00 |
00 |
| 3 Sweat Equity |
00 |
00 |
00 |
00 |
| 4 Commission |
00 |
00 |
00 |
00 |
| - as % of profit |
|
|
|
|
| - others, specify... |
|
|
|
|
| 5 Others, please specify - Insurance |
00 |
00 |
00 |
00 |
| Total |
00 |
00 |
00 |
00 |
| Ceiling as per the Act |
00 |
00 |
00 |
00 |
Remuneration to other directors - for F.Y. 2019-20
| SN Particulars of Remuneration |
Name of Directors |
Total Amount |
| Independent Directors |
Mr.Sardar Singh Mudgal |
Mr. Bhuvl Kant |
- |
| 1 Fee for attending board committee meetings |
00 |
00 |
00 |
| 2 Commission |
00 |
00 |
00 |
| 3 Others- Consultancy Fees |
00 |
00 |
00 |
| Total |
00 |
00 |
00 |
| Total Managerial Remuneration |
00 |
00 |
00 |
| Overall Ceiling as per the Act |
00 |
00 |
00 |
II. FromJagson International Limited (Holding Company):- for F.Y. 2019-20
| SN. Particulars of Remuneration |
Name of MD/ |
WTD/Women Director |
Manager |
Total Amount |
|
Mr. JagdishPershad Gupta, Chairman &Managing Director |
Ms. Ravinder Kaur Hora |
Nil |
|
| 1 Gross salary |
3,00,00,000 |
19,99,344 |
00 |
3,19,99,344 |
| (a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 |
3,00,00,000 |
19,99,344 |
00 |
3,19,99,344 |
| (b) Value of perquisites u/s 17(2) Income-tax Act, 1961 |
00 |
00 |
00 |
00 |
| (c) Profits in lieu of salary under section 17(3) Income- tax Act, 1961 |
00 |
00 |
00 |
00 |
| 2 Stock Option |
00 |
00 |
00 |
00 |
| 3 Sweat Equity |
00 |
00 |
00 |
00 |
| 4 Commission |
00 |
00 |
00 |
00 |
| - as % of profit |
|
|
|
|
| - others, specify... |
|
|
|
|
| 5 Others, please specify - Insurance |
00 |
2,00,000 |
00 |
2,00,000 |
| Total |
3,00,00,000 |
21,99,344 |
00 |
3,21,99,344 |
| Ceiling as per the Act |
00 |
00 |
00 |
00 |
Remuneration to other directors - for F.Y. 2017-18
| SN Particulars of Remuneration |
Name of Directors |
Total Amount |
| Independent Directors |
Mr.Sardar Singh Mudgal |
Mr. Bhuvi Kant |
- |
| 1 Fee for attending board committee meetings |
00 |
00 |
00 |
| 2 Commission |
00 |
00 |
00 |
| 3 Others - Consultancy Fees |
00 |
10,35,000 |
10,35,000 |
| Total |
00 |
00 |
00 |
| Total Managerial Remuneration |
00 |
10,35,000 |
10,35,000 |
| Overall Ceiling as per the Act |
00 |
00 |
00 |
Note:-
1. Managerial remuneration ceiling as per the section 197 of the Companies Act, 2013 is
5%.
2. The salaries and fees paid to every director are for their services for business
group as a whole.
3. Therefore, the ceiling limits do not apply in this case.
B. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD - FOR F.Y.
2017-18
| SN Particulars of Remuneration |
Key Managerial Personnel |
|
CEO |
cs |
CFO |
Total |
| 1 Gross salary |
00 |
3,00,000 |
00 |
3,00,000 |
| (a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 |
00 |
00 |
00 |
00 |
| (b) Value of perquisites u/s 17(2) Income-tax Act, 1961 |
00 |
00 |
00 |
00 |
| (c) Profits in lieu of salary under section 17(3) Income-tax Act, 1961 |
00 |
00 |
00 |
00 |
| 2 Stock Option |
00 |
00 |
00 |
00 |
| 3 Sweat Equity |
00 |
00 |
00 |
00 |
| 4 Commission |
00 |
00 |
00 |
00 |
| - as % of profit |
00 |
00 |
00 |
00 |
| Others specify... |
00 |
00 |
00 |
00 |
| 5 Others, please specify |
00 |
00 |
00 |
00 |
| Total |
00 |
3,00,000 |
00 |
3,00,000 |
VI. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:
| Type |
Section of the Companies Act |
Brief Description |
Details of Penalty / Punishment/ Compounding fees Imposed |
Authority [RD / NCLT/ COURT) |
Appeal made, if any (give Details) I |
| A. COMPANY |
|
|
|
|
|
| Penalty |
Nil |
Nil |
Nil |
Nil |
Nil |
| Punishment |
Nil |
Nil |
Nil |
Nil |
Nil |
| Compounding |
Nil |
Nil |
Nil |
Nil |
Nil |
| B. DIRECTORS |
|
|
|
|
|
| Penalty |
Nil |
Nil |
Nil |
Nil |
Nil |
| Punishment |
Nil |
Nil |
Nil |
Nil |
Nil |
| Compounding |
Nil |
N |
Nil |
Nil |
Nil |
| C. OTHER OFFICERS IN DEFAULT |
|
|
|
|
| Penalty |
Nil |
Nil |
Nil |
Nil |
Nil |
| Punishment |
Nil |
Nil |
Nil |
Nil |
Nil |
| Compounding |
Nil |
Nil |
Nil |
Nil |
Nil |
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