Deer 5hare holders.
Your Board of Directors are oleased to present the 401fl Annual Report on
the business and operations oF Cma? Autos Limited Ttne Company"/"^max"),
togetner with the Audited Financial Statements for the flnancW yuat ended SI"-1
March, 2021.
FINANCIAL SUMMARY
The Summary of the financial performance of the Company for the financial year ended
2V March, 20Z3 as compared to the previous financial year is as below:
Particulars |
2022-23 |
2021-22 |
Revenue from operations and other income |
31,561 |
25,377 |
Depreciation and Amortnation expenses |
2.320 |
1,522 |
profit / loss before exceptional items |
(1,341] |
(3,724) |
Cash profit / loss beFore Exceptional Items |
479 |
(2.202) |
exptional iteams gain / loss |
- |
5,554 |
Profit/iLPSSl before Tax |
(1.3411 |
2,2 70 |
Total tax expenses |
593 |
(77) |
profit /loss For the period |
|
|
Other Comprehenxive income/loss |
|
- |
Total Comprehensive income/ loss |
(2,439] |
2,34 b |
Earnings per share (FPS: |
(11) |
11 |
TRANSFER TO RESERVE
No amount is transferred to (he Gen erg I Reserve of the Companv for the financial year
Z022-23.
DIVIDEND
Your Directors do not recommend any dividend during/For the Financial year 2022-23,
MATERrAt CHANGES AND COMMITMENTS IF ANY, AFFECTING THE FINANCIAL POSHTON OF THE COMPANY
BETWEEN THE END OF THE FINANCIAL YEAR UNDER REVIEW TO WHICH THE FINANCIAL STATEMENTS
RELATE AND THE DATE OF THIS REPORT.
in opinion uf r/ii.- Boord, there hove been no material changes and commitments
affcc\tng the financial position of the Company Lv.hjch .hrno ocoarreci between the end
of the financial year under review to which the finandbl storemens relate ontf the date of
fins Ffsport
CHANGE FN THE NATURE Of &U5FNESS
During the year under review, there has been no change In the nature oi business of the
Company. The main business activity oF the Company primarily continues to be manufacturing
CHANGE IN THE NATURE OF BUSINESS
Pitring the year under review, there has been no Change- in the nature nf business of
the Company. The main business activity of the Company primarily continues to be
manufacturing end supply of sheet metal components. Tha Cocgpany is continuously exploring
the possibility of venturing into new business areas to minimize its business risks.
STATE OF THE COMPANYS AFFAIRS. OPERATIONS AND FUTURE PROSPECTS During the financial
year 202223. the total ravenue of the Company was Rs, 31561,20 lacs as compared to total
revenue of Rs. 25377,26 lacs of previous year. The Company has faced less fur the year
under review Rs. (1641.06) Jacs as against the profit of Rs.2269.8T lacs for the previous
financial year. The profit from year 2021- 22 included o one time exceptional gain of Rs
5994 lacs pertaining to the sale of land If we look at the profit from regular operations
without exceptional income, the company is cosh positive from ope rations in 2022-23 as
compared to each negative In 2021-22.
SHARE CAPITAL
The Authorized Shaje Capital of the Company is Rs. 30,00.00,009 (RupeesThirty Crores
Only} divided in1d 2,05.00X00 equity shares of Rs. 10 each; 20,00,COO equity shares with
differential voting rights of Rs. 10 each and 1,50,000 Optionally Convertible Cumulative
Preference Shores (12%) of Rs. 100 each. The pard up share capital of the Company, as on
31st March, 2022, was Rs. 21,38,82,130 divided into 2,13,06,210 equity shares of Rs. 10
each.
The Company has rot issued any sweat equity shares. As on 31s! March, 2923.
none of the Directors Of your Company hold instrument convertible inio equity Share of the
Company.
During the year under review, there was no change in the share capital of the Company
from the last financial year.
The shares are actively traded on BSE end NSE and have not been suspended from trading.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
In terms of Regulation 34(2 )(e) of SEBJ (Listing Obligations and Disclosure
Requirements) Regulations, 2015, the Mar ago me nt Discussion and Analysis Report has been
appended separately, which forms part of the Annual Report.
CORPORATE GOVERNANCE
Corporate Governance is me application cf best Management Practices, Compliance Of Laws
in true letter arid spirit and adherence to ethical standards for effective management and
distribution of wealth and discharge of social responsibility for sustain a bJe
development of all stakeholders i.e. shareholders, management, employees, customers,
vendors, regulators and the community at large. Your Company places prime importance on
reliable financial information, integrity, transparency, empowerment and comp I.an ce with
the law. In letter and spirit.
The rcg viators have also emphasised on Ihe nequirnmenl of good cdrpQESt&
governance practices m corporate management. Your Company also takes proactive approach
and revisits Us governance practices from time to time so as to meet business and
regulatory requirements.
The provisions of SEBt (Listing Obligations 3rd Dsdpsure Requirements) Regulations,
20IS with respect to the Corporate Governance for the year 2022-23 has been provided in
the Corporate Governance Report, which is attached here separately along with a
Certificate from Practicing Company Secretary on compliance with corpora to governance
norms, and forms part of the Annual Report.
DIRECTORS AND KEY MANAGERIAL PERSONNEL
The Board of Directors of I he Company has optimum combination of executive and
nonexecutive directors including independent directors and woman directors in compliance
with the provisions of the Companies Act, 2013 ("the Act") and SEEI (Listing
Obligations and Disclosure Requirements) Regulations. 2015 ("Listing
Regulations")
During the year under review, the fblowing changes were taken place in the Directors
and Key Managerial Personnel of I he Company-
Mrr Oevashi&h Mehta was appointed as the Chief Financial Officer of the
Company w.e.L 23rd January, 2023,
Mr. Nipun Khurnna was appointed as the Non-executive Independent Director w.e,f. OS1"
August 2022,
- The tenure ship of 2 consecutive terms of 5 years of Dr. R a mesh Chandra Vaish &
Dr. Triloki Nath Kapoor got over at the Annual General Meeting held on 301
September 2022 and that they were not associated with the Company w.e f.Or1
October, 2022.
in terms of the provisions of the Act end Article of Association of the Company, Mr,
Tavinder Singh (DIN: 01175243), shall retire by rotation at the ersuing Annual General
Meeting and being eligible, have offered himself for re-appointment. The Board recommends
for this re-appoinluiem in the ensuing Annual Genera! Meeting of the Company.
The Company has received declarations from alE the Independent Directors of (he Company
confirming that they continue to meet the criteria of independence, as presen bed under
Section 149 of the Act read with rules made there under and Regulations 16 & ?5 of
the Listing Regulations, fie Independent DirecLuis have also confirmed that Ihey have
complied with the Companys cede uf conduct, fn the opinion of the Board of Directors cf
(he Company, all Independent Directors of the Company have integrity, expertise, expcnence
as prescribed under the Companies (Appointment and Disquafification of Directors) Rules.
2014 read with the Companies (Accounts) Rules, 2014 (including amendment thereof).
Ail Directors of the Company have also given declarations that they am net debarred
from holding the office of Director by virtue of any SERI order or any other such
statutory authority as required under the Circular dated 20"1 June, 201fi
issued by BSE Limited and National Stock Exchange of India Limited.
Board Diversity and Policy on Directors Appointment and Remuneration The Company
believes that building a diverse and inclusive culture is integra: to its success. A
diverse Board will be able to leverage different skills, qualifications, professional
experiences perspectives and backgrounds, which is necessary tor achieving sustainable and
balanced development. The Board has adopted a policy on Nomination and Remuneration for
selection and appointment of Directors, Senior Management including Key Managerial
Ptersoniiels and other Senior Management and their remuneration, which sets out the
criteria for determining qualifications, positive attributes and independence of a
Director, The Salient features of the policy ere mentioned in the Corporate Governance
Report which forms part of this report.
The detailed policy is available on the Companys website at hltflc ://www.offlaxauto
com/Coties-PoliCBS asps .
Annual Board Evaluation and Familiarization Programme tor Board Members The Nomination
and Remo deration CammlLLee has pul In place a framework for evaluation of the performance
of the Board Board Committees and individual Directors inducing Chairperson. Customized
forms were circulated, responses were analyzed and the results wars subsequently discussed
by the Board. Recommendations arising from this entire process were deliberated updo by
the Board to be used constructively to Further enhance its effectiveness A detailed update
on the Performance Evaluation is pruvded in the report on Corporate Governance which forms
pad of this repod
A note on the familiarization programme adopted by the Company for orieruatfon and
training of tie Directors and the Board evaluation process undertaken in compliance vwtfi
the provisions of the Act and the Listing Regulations is provided in the Report on
Comnrate Gnvemance, which forms pad of this Report
Commitee, of Bo.irdr MumkjDr of Moptingf. of the.in Board Committees Dunng
the year under review, 6 {Six) meetings of the Board of Directors were held respectively
on 09/05/2022, 30/05/2022, 00/03/2022. 31/05/2022. 10/11/2022 a 23/01/2023
Dunng the financial year Ended 31s1 March, 2023, all the recommendations
of/submissions by ihe Committees which were mandatory required, were accepted by the Board
l he Committees of the Board are as follow:-
a) Aud it Committee
b} Nomination and Remuneration committee c) Stakeholders Relationship Committee d}
Executive Committee
Details cf Board Meetings and Committee Meetings and attendance thereof is disclosed in
the Corporate Governance Report attached separately to this report
DIRECTORS RESPONSIBILITY STATEMENT
In terms of the provisions of the Companies Act, 2013 the Board of Directors of your
Company confirm thal
(a) in the preparation pf the annual accounts for the Financial year ended March 31,
2023. the applicable accounting standards had Peon totlowed along with proper explanation
relating to material departures, though there is no material departure; (b}tha directors
had selected such accounting policies and app:ied them consistently and made judgments and
esl mates that are reasonable and prudent so as to give a treat and fair view of the stale
of affairs of the company at the end of the financial year ended March 31.2023 and of the
profits loss) of the company for that period;
(c) the directors had taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of this Acl for safeguarding the
assets of the company and for preventing and detecting fraud and other irregularities;
id} the directors had prepared the annual accourtls for the Financial year ended March
31. 2023 on a going concern basis:
(olthc ci re dors, had laid down internal financial controls tc bo followed by tha
company and toal such internal financial riontrols are adequate and were operating
effectively; and
(f) the directors had devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems were adequate and operating effectively.
VIGIL MECHANISM
The Company is committed to adhere lo the highest standards of elhicah moral and legal
conduct of business operations The Company has established a vigil mechanism and has
adopted the "Vigil Meehanism/Whistle Blower Policy". As per the poiicy
objective, the Company encourages its employees who have concerns about suspected
misconduct, to come forward and express these concerns without fear of punishment or
unfair treatment. A vigil mechanism provides a channel to the employees and directors to
report to the management concerns a Pout unetnical behavior, actua: or suspected Jraud or
violation of Ihe Codes of conduct or policy. I he mechanism provides for adequate
safeguards against victimization of employees and directors to avail the mechanism and a
so provide for direct access tn (he Managing Directnr.Chairnnan ofthe Audit Committee to
oxoeplional cases. Such policy is available on the wobsitc of lho Company
. https;/iwww .omaxauto.comrCodes -Pol icies asp.
During the financial year under review, person has been denied access to the Managing
Director, Chairman of the Audit Committee.
CORPORATE SOCfAL RESPONSIBILITY INITIATIVES
As a good corporate citizen, the Company understands the significance of inclusive
growth and wellbeing of all stakeholders, including the society at large. Your Company has
been taking initiatives under Corporate Social Responsibility {CSR) for solely at targe,
well before it was prescribed under the Acl. The Company has a well-defined Policy on CSR
as per the requirement of Sachem 135 of the Act which covers tha activities as prescribed
under Schedule VII of the Act.
During tne year under review, due to loss suffered by the Company in the previous year,
the re i s no habil i ty on the com pan y to spen d on Corpora ts Soci af Re spo nsi bil i
ty Acti vities, But to mention that the CSR is not application Ihe Company for FY 2022-23
DEVELOPMENT AND IMPLEMENTATION OF A RISK MANAGEMENT POLICY
The Board of Directors of :he Company has, adopted 3 policy a the Risk Manage tree t
Policy of the Company with main objective (o ensure sustainable business growth with
stability and to promote a pro-active; approach in :oporling, evaluating and resolving
risks associated wth the business. The Board continuously identifies various risks to
which the Company is subject to and which in the opinion of the Board may threaten the
existence of ihe Company.
The implementation and mon-taring of (bis policy is currently assigned to the Audit
Committee of the Board. Though ihe Board is striving to identify various elements of risk,
however, in the op nion of ihe Board, there has beer no element of risk which may threaten
the existence of the Company.
AUDITORS
Statutory Auditor
In terms of the provisions of Section 139 of the Companies Act, ?013, M/s. BGJC
Associates LLP, Chartered Accountants {Firm Registration No. OQ3304N), were re- a ppoi
nied as Stati itory Auditor of the Compa ny at the 39"1 An nt& I
Genera! Meeti ng [ AGM) to hold office till the condu&ion of 44lh AGM gf
the Company.
Ms. BGJC Associates LLP, Chartered Accountants (firm Registration No. G03U04N), are
eligible to continue as the Statutory Auditors of the company for another term in accordan
ce wi th lh e provi sion a o f the Act read with njl e s made the reur der and app lica
ble laws Accordingly, Ihe Board of Directors ol the Company has recommended the
reappointment of M/s. BGJC Associates LLP. Chartered Accourtlants as Statutory Auditors of
the Company.
Secretarial Auditor
tn terms of Section 204 of the Act read with the rules made thereunder, and upon the
recommendation of the Audit Committee, the Board of Directors has appointed MNK Associates
& LLP-the Secretariat Auditors for the financial year 2022-23 at the Board Meeting
held on 23(J January. 2023.
Further ft has been proposed that for FY 2023-24 also MNK Associates & LLF-rrte
Secretarial Auditors will be appointed to conduct Secretarial Audit for FY 2023-24.
Internal Auditors
In terms of Section 133 of the Companies Act. 2013 mad with Companies (Accounts) Rules,
2014, (he Board of Directors, on recommendation of the Audit Committee, nas appointed
M/&. Mis. Singhi Chugh & Kumar. Chartered Accountants, having FRN; 013S13N and
M/s. JHS & Associates LLP (previously known N. Kochhar & Co.), having FRN:
1332BBW. Chartcrod Accountants as Internal Auditors of the Company for the financial
year?023-24.
Cost Auditors
During the year under review, the turnover of the Company was more than the threshold
as prescribed uncer SEctien 14& of ihe Arrt and rules made thereunder. For the
Financialyear 2112324, the Company is required to make and maintain the Cost records as
specified by the Central Government under sub-secticm (1) of section 148 of the Act,
The Board of Directors of rho Company, on the recommendations marls by the Audit
Committee, has appointed M/&. JSN & Co,, Coat Accountants (Firm Registration No,
0CQ455) as the Cost Auditor of the Company to conduct the audit of the cost records for
the financial year 2022-23. The remuneration proposed to be paid to the Cost Auditor,
subject to ratification by the sharehodersef the Company at the ensuing 40lh
AGM, would not exceed Rs. 1,20,000 (One Lakh twenty thousand only) excluding (axes and out
of pocket e xpenieS, i F any
The Company has received conseni from Mis. JSN & Co., Cost Accountants, (Firm
Registration No, 000455} to act as the Cost Auditor for conducting audit of the cost
records for the financial year 2023-24 along with a certificate confirming Lheir
independence and arms length relationship.
AUDITORS REPORT
Statutory Audit Report
M/s, BGJC Associates LLP, Chartered Accountants (Firm Registration No, GO03O4N}t Statutory
Auditors of the Company have submitted their reports on the financial state mento of the
Company for the financial at year ended 31st March. 2023. There has been no
observation commonly while adverse effect on the functioning of the company; further,
there is also no qualification reservation or adverse remarks in the Auditors Reports on
the financial statement of the Company for the financial year ended 31^ March, 2023,
Further, the auditors have not reported any fraud under Secton 143(12) of the Act tor
the financial year 2022-23,
Secretarial Audit Report
!n terms Of Section 204(1) Of the Act, a Secretarial Audit Report, given by M/s. MNK
Associates & LLP the Secretarial Auditor of the Company, m prescribed form has been
annexed as Annexure-2 hereto and forms pert of this Report. It is clan tied as mentioned
in Iheir report for the financial year ended 315t March, 2023:
1. M&. Sakshi Kaura, Joint Managing Directorname is appearing under thecategory
-defaulting status at the Ministry of Corporate Affairs (MCA}. Registrar of Companies
(ROC) website at www.mca.qftv.in
Reply: Name of Ms. Sakshi Kaura, Joint Managing Director is appearing under defaulting
status as apparent that the Annual filing (Form 8 and 11) of Mis SKM & Associates, LLP
was not done for 3 continuous Financial Years i.e. (FY 2019-20, 2020-21 & 2021-22).
This is to apprise that the annual filing of the 3 finarctal years have been riowcompieted
on April 27. 2023 but the satos is yet to be updated on MCA portal.
2. Identifying and approving the list of Company Officers as part of Senior Management
Reply: The matter of the identification of the Senior Management has already been the
part of the Minutes of the 199^ Board Meeting of the Company where the matter is
considered in case of Performance Evaluation for FY 2015-16.
But further suggestion, the Company Has started to take at the list should the updated
every time there is any change in the approved list and recommend it to the Board for its
approval
3. Recoomdation of the re constitution of the commities by the respective commities to
the Board.
Reply the authority to approve & reconstitute to commitee is only with the board
and further we wish
to inform that all the respective commite members of the board as well and in most of
the cases the agenda iteams of the commitee are also considared as the agenda iteams of
the board meetings.
Further, the auditors have not reported any fraud under Section 143(12) of Ihe Act for
ttie financial year 2022-23.
Cost Audit Report
M/s. JSN S Co., Cost Accountants (Firm Registration Mo. 000455), Cost Auditors of the
Company have submitted their reports on the cost ^cords of the Company for the financial
year ended 3lil March, 2023. There has been no qualification., reservation or
adverse remarks in the Auditors Reports on the cost records of the Company for the
financial year ended 3lfl1 March, 2023
Further, the auditors have flOt reported any fraud under Section 143(12) of the Act for
the financial year 2022-23.
SUBSIDIARIES. JOINT VENTURES AND ASSOCIATE COMPANIES The Company does not have any
subsidiary company or joint venture or associate company. There was no company which had
be come or teased to be the subsidiary, jonl venture or associate company of the Company
during the year tinder review.
DEPOSITS
During the year under review, the Company had not invited or accepted any deposits
from- public under Chapter v of the Act and the Rules made thereunder. Further, no
deposits are outstanding on the end of financial year 2022-23.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS/ COURTS/ TRIBUNALS
There has been no significant and material order passed by ary regulator, courts or
tribunals impacting the going concerr stains and operations of rhe Company in future.
INTERNAL FINANCIAL CONTROLS
The Company has established 3 framework for internal financial controls. The Company
has in place adequate controls, procedures and policies, ensunng orderly and efficient
conduct of its business, including adherence to the Companys polices, safeguarding of its
assets, prevention and detection of frauds and errors accuracy and completeness of
accounting records any timeIy preparation of reliable financial information. During the
year under review, such controls were assessed and no reportage material weaknesses <n
the design or operation were observed. Accordingly, the Board is of the opinion that ihe
Companys internal Financial controls were adequate and effective during financial year
2022-23,
LOANS, GUARANTEES AND INVESTMENT
During the financial year under review the Company has nol g ven any oan or guarantee
or security in connection with a loan or made any investment in terms of Section 1S6 of
the Companies Act, 2013.
RELATED PARTY TRANSACTIONS
During the year under review, the Company has entered into- transactions with related
parties falling under the purview of Section 106 of the Act. Ali the transactions with the
related parties were in ordinary course or business and on arms length basis, therefore
die Company is not required to g:ve details of related party transactions in Form AOC-2.
Al: transactions with related parties were duly reviewed by Ihe Audit Committee of the
Board.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE OUTGO
in terms of Section 134(3 Km) of the Act read with Rule S of Companies (Accounts)
Rules, 2014, a statement containing detail of conservation of energy technology
absorption, foreign exchange earnings and outgo, in the manner as prescribed under the
Companies (Accounts) Rules, 2314. is given in Annexure - 3 hereto and forms pan of this
Report.
DISCLOSURE OF PRESCRIBED DETAILS OF DIRECTORS REMUNERATION VI5- A VfS EMPLOYEES
REMUNERATION
In terms of Section 197(12) or the Act read with Rule 5(1 )h 5(2} and 5(3}
of the Companies (Appointment and Remuneration of Managerial Personnel} Rules, 2014 the
ratio of the remuneration or each director to the median employees remuneration and such
other details as are regained under such rules are attached separately as Annexure - 4,
which forms part of this -report.
ANNUAL RETURN
Pursuant to Section 92(3} read with Sectior 134(3Xa) of the Act, the Annual Return in
Form MGT-7 as on March 31, 2D 23 is aval able on the Companys websde.
SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESS AL) ACTr
2013
The Company has in place a Policy on Prevention of Sexual Harassment at the Workplace
in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention,
Prohibition &. Rcdrossal) Act, 2013 ("POSH"). The Company has constituted an
Internal Coniplants Committee to redress complaints received regarding sexual harassment
at the workplace
ENVIRONMENT HEALTH AND SAFETY (EHS)
Yout Company is committed for adhering to best Environmental, Safely & Health
Practices during its manufacturing processes. It targets to achieve 10C% Environmental
Lega i cu mpl i a r i ce s wi lb 100% cus turners sa Lisfa etion alar rg with contir; uo
us traini r i gs and
awareness programs on different Environmental Burning Issues from time to time. In
order to ensure effective imptementation of OMAXs EHS Policy, the same is systomalicaLly
communicated across all the levels and the employees are trained from time to time to not
only build commlmenl at their levels but also encourage them to be effective promoters of
this philosophy and take EHS as one of their key roles in day to day functioning.
Environment. Health and Safety programs in the organization is the prime fOCU$ of top
management fa make safe and healthy work environment. The EHS pfogrerns protect
the environment, conserve the natural resources, provide safe end healthy conditions for
work, and comp y with applicable raws and regulations.
The Company is committed for adopting Zero Incident free work envronmentby following
continuous workplace and classrooms trainings, work permit systems, third party safety
audits and stringent safety standards in me workplace. Safety and health compliances,
start from cur gates and occupy the topmost position In the y&orty goals of the
Company
The Company largets to ma-ntain nurimum Zero Severity Rate and Frequency Rate to
achieve Zero injury. All safety compliances being monitored via In-tiouse and third parly
monthly safety audits to know r^ast non-conformance to ensure our 100% safely compliances
for our employees, associates and machinery to improve productivity A dedicated EHS team
is available in each unit under guidance of corporate E=H3 on day- to-day basis.
AI EHS activities fire monitored by monthly EHS MfS review mechanism with allocation of
s lJ fi ci ent resou nces under separate cost centre for be tter a-cca unta btl i ty. T he
C o mpa n y is also dedicated to save our precious natural resources with conservation of
water by recycling our effluent after treatment by installing Reverse Osmosis Plants. For
conlnuous monitoring and to operate our a-I ETPs at hgh&&t efficiency, we have
established decicated ETP Labs at all major locations with dedicated ETP Chemists to
achieve and fulfil our commitment towards Zero Liquid Discharge. The Companys strength is
Employee engagement and under this, celebrations of Environment and Safety Day Fire &
Mock Drills, EHS awareness training programs covering all employees and associates under
scheduled classroom and floor level (wring are conducted EHS Legal Compliance training
programs are organized fo all sen or and middle management for betier understanding
throughout the year to create more vibrant environment amongst Ihe employees 3a that each
& every employee takes the resparisiLTIities & guices others about non polluted
environment, T he Company also ensure^ 1Ub% disposal of fill generated Hazardous wastes as
per Pollution Control guidelines. The Company has also started d spasm of E-waste to
authorized re-cyclers
PROCEEDING UNDER INSOLVENCY AND BANKRUPTCY CODE. 2016 The Company nas not made atiy
application or any proceed ng pending under the Insolvency and Bankruptcy Code. 2015 (31
of 2016) ("IBC Code") during the year. Further, at the end of the year, Company
does not have aiy proceed ngs related to fBC Code.
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 THEREOF
During the year under review, the Company has nol made one time settlement therefore,
the same is net applicable.
WE0UWK TO IMPORTANT DOCUMENTS^! INFORMATION:
The Company has hosted certain policiesWocurnents/ information, including inter atia,
Policy for determining Material Subsidiaries Policy on dealing with Related Party
Transactions, Famfliarizatinn programmes for Independent Directors etc. as per the
requirement of law or otherwise.
Following lint; oould be used for accessing such polices/ docurrtents/iriforiTiation: h
/(p$<a ufo. d ftvQHfts-Poffcies, aspx
For Regulation 46: https:f/w\MA/. omaxauto. com/reauiation 4 S.asox For Regulation 30:
https://mm\ oinaxauto. com/reguiatlon 30. asm
COMPLIANCE OF SECRETARIAL STANDARDS ISSUED BY ICSt During the financial year 2022-23.
the Directors have devised proper systems io ensure compliance with the provisions of all
applicable Secreta-ial Standards and that the best efforts are being taken [fiat such
systems being adequate and operated effectively.
ACKNOWLEDGEMENT APPRECIATION
The Directors wish to convoy their appreciation to business associates tor their
support nnd contribution durng the year. The Directors woutd also Ike to thank the
employees, shareholders, customers, suppliers, alliance partners, bankers and government
agencies Tor the continued support given by them to the Company and their confidence
reposed in the management We look forward for your continued support in the future.
|
|
For Oman Autos Limited |
|
tdr- |
Sd |
|
tavindar singh |
DevaBhish Mehta |
|
whole time Director |
(CFO cum Manpgtng Director) |
Place: Gurugram Date: 25n July, 2023 |
IN: 01175243 |
DIM: 07175312 |
+91-9892691696
