The Board of Directors hereby submits the report of the Business and operations of your
Company (‘the Company’ or ’QVC’), along with the audited financial
Statements, for the financial year ended March 31, 2018. The consolidated performance of
the Company and its subsidiaries has been referred to wherever required.
1. Financial Results:
All amounts in lakhs
| Particulars |
Year ended March 31, 2018 |
Year ended March 31, 2017 |
|
Consolidated |
Standalone |
Consolidated |
Standalone |
| Profit before taxes |
1,038.61 |
1,101.58 |
557.45 |
682.10 |
| Profit after taxes |
766.17 |
829.31 |
351.31 |
475.95 |
| Balance brought forward |
1,680.02 |
1,646.60 |
1,991.54 |
1817.13 |
| Transfer to Capital Redemption Reserve |
10.73 |
10.73 |
18.38 |
18.38 |
| Balance carried over to Balance Sheet |
1,863.57 |
1,903.19 |
1,670.12 |
1,646.60 |
2. Consolidated Operations:
Revenue from consolidated operations for the financial year ended 31st March 2018 was
Rs. 5,151.48 Lakhs as against Rs. 4,087.39 Lakhs during the previous year, resulting in
profit before tax of Rs. 1038.61 Lakhs and profit after tax of Rs. 766.17 Lakhs against
Rs. 557.45 Lakhs and Rs. 351.30 Lakhs respectively in the previous year. The performance
of Subsidiaries/ Associates / Joint Ventures as required u/s. 129(3) of the Companies Act
2013 read with Companies (Accounts) Rules 2014 is provided in the prescribed format AOC-1
is appended as Annexure I to this report.
3. Standalone Operations:
Revenue from standalone operations during the year was Rs. 5,111.15 Lakhs as against
Rs. 3,765.34 Lakhs in the previous year. Profit before tax was Rs. 1101.58 Lakhs against
Rs. 682.10 Lakhs and profit after tax was Rs. 829.31 Lakhs against Rs. 475.95 Lakhs in the
previous year.
The Financial summary as required u/s. 134(3) of the Companies Act 2013 read with
Companies (Accounts) Rules 2014 is provided in the prescribed format AOC - 3 in Annexure
II to this report.
4. Dividend:
Your Directors do not recommend any dividend on the Equity Shares of the Company with a
view to plough back the profits. However, payment of the fixed dividend of 0.001% P.A.
payable on the Preference Shares issued by the Company is declared for the financial year
2017-18 amounting to Rs.392/-,including dividend tax of Rs. 66/-.
5. Share Capital:
During this year 2017-18, the Company redeemed 1,07,335 Optionally Redeemable
Preference Shares (ORPS) ofRs.l0/-each at a premium of Rs. 523.58 aggregating to Rs.
5,61,98,459/-. Transfer to Capital Redemption Reserve Rs. 10,73,350 was made out of the
profits as statutorily required.
6. Material Changes and Commitments Affecting the Financial Position of the Company:
There have been no material changes or commitments, 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 this reporting.
7. State of affairs of the Company:
QVC Realty Co. Limited (Formerly known as QVC Realty Co. Private Limited) having CIN:
L45208KA2007PLC041581, PAN: AAACQ1477G having its registered office at 619, Aceron
Tervezo, First Floor, 6th B Main, Indiranagar, 2nd Stage, Bengaluru
560038 (Formerly No. 89/1, Raja Ikon Building, 2nd Floor, Marathahalli Ring
Road, Bengaluru, Karnataka 560037) is engaged in the business of Real estate development
activities. On June 4, 2014, the Company has been accorded approval for conversion from a
Private Limited to Public Limited and listed on Small and Medium Enterprises (SME)
Platform of the National Stock Exchange.
The SME Platform of the Exchange is intended for small and medium sized Companies with
high growth potential. The SME platform of the Exchange shall be open for SMEs whose post
issue paid up capital shall be less than or equal to Rs. 25 Crores. The Platform is
expected to offer a new and alternate asset class to informed investors having longer
investment horizon. The Platform shall allow new, early stage ventures and small quality
companies to raise much needed growth capital as they grow, mature and transit to the
Exchanges main board.
The Company also has a office in Gurgaon at Technopolis, Tower B, 1st Floor,
Golf Course Road, Sector 54, Gurgaon 122022.
8. Listing:
Equity shares of your Company continue to be listed in the Institutional Trading
Platform of SME segment of the National Stock Exchange of India Limited, SME EMERGE ITP,
Exchange Plaza, 5th Floor, Plot No. C/l, G Block, Bandra-Kurla Complex, Bandra (East),
Mumbai- 400 051 effective October 21, 2014.
9. Auditors:
Pursuant to the provisions of section 139, 142 and other applicable provisions of the
Act, the Board of Directors have recommended the appointment of M/s. RCE & Co,
Chartered Accountants (Firm Registration 009141S) as the statutory auditors of the Company
to hold office from the conclusion of the ensuing annual general meeting till the
conclusion of the annual general meeting to be held in the year 2019, subject to
ratification of their appointment at every intervening annual general meeting and at such
remuneration as may be mutually agreed between Board of Directors of the Company and the
Auditors.
A confirmation has been received from M/s. RCE & Co, Chartered Accountants that
their appointment, if confirmed by the members in the forthcoming general meeting, would
be w ithin the limits specified in the applicable provisions of the Companies Act, 2013.
Secretarial Auditor:
As required under Section 204 of the Companies Act, 2013 and rules there under, the
Board has appointed Mr. K Jayarama, Practicing Company Secretary, as a Secretarial Auditor
of the Company.
Pursuant to provisions of Section 204 of the Companies Act, 2013 your Company has
engaged the services of Mr. K Jayarama, Company Secretary in Practice, Bengaluru to
conduct the Secretarial Audit of the Company for the financial year ended March 31,2018.
The Secretarial Audit Report (in Form MR - 3) is attached as Annexure III - to
this Report.
10. Subsidiaries/ Associates / Joint ventures:
Agrim Realtech Private Limited, Niwas Realtech Private Limited and Shakti Buildwell
Private Limited continue to be wholly-owned subsidiaries of your Company. Spark Town
Planners Private Limited continue to be .TV Company. The performance of Subsidiaries/
Associates / Joint Ventures as required u/s. 129(3) of the Companies Act 2013 read with
Companies (Accounts) Rules 2014 is provided in the prescribed Format AOC-1 is appended as
Annexure I to this report.
11. Particular Employees:
Particulars of employees, who drew remuneration in excess of the limits specified under
Section 197 of Companies Act, 2013 and Rule 5 (Appointment and Remuneration of Managerial
Personnel) amendment Rules, 2016 as amended pertaining to the information of the employees
of the Company to whom the said rules are aonlicable and who is emoloved throughout the
vear:
| Name |
Prakash Gurbaxani |
| Age |
57 |
| Designation |
Managing Director |
| Remuneration received |
Rs. 1,75,28,215 |
| Qualification |
B.E (Civil Engineering) & M.S |
|
(Construction Management) |
| Experience |
33 years |
| Date of Commencement of employment |
25.01.2007 |
| Last employment |
TSI Ventures (India) Private Limited |
| Nature of employment (Permanent or Contractual) |
Permanent |
| Months worked in FY 2017-18 |
12 Months |
12. Remuneration Policy of the Company:
The Remuneration policy of the Company comprising the appointment and remuneration of
the Directors, Key Managerial Personnel and Senior Executives of the Company including
criteria for determining qualifications, positive attributes, independence of a Director
and other related matters has been provided in the Corporate Governance Report which is
attached as to this Report.
13. Directors responsibility statement:
The financial statements are prepared in accordance with Indian Generally Accepted
Accounting Principles (GAAP) under the historical cost convention on accrual basis except
for financial instruments which are measured at fair values. GAAP comprises mandatory
accounting standards as prescribed under Section 133 of the Companies Act, 2013
(‘Act’) read with rule 7 of the Companies (Accounts) Rules, 2014, the provisions
of the Act (to the extent notified) and guidelines issued by the Securities and Exchange
Board of India (SEBI). Accounting policies have been consistently applied except where a
newly issued accounting standard is initially adopted or a revision to an existing
accounting standard requires a change in the accounting policy hitherto in use.
The Directors confirm that:
• In preparation of the annual accounts for the financial year ended March 31,
2018, the applicable accounting standards have been followed and there are no material
departures.
• The Directors have selected such accounting policies and applied them
consistently and made reasonable and prudent judgments and estimates, 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 Profit & Loss of the Company for that period.
• The Directors took proper and sufficient care for the maintenance of proper and
adequate accounting records in accordance with the provisions of the Act for safeguarding
the assets of the Company and for preventing and detecting fraud and other irregularities.
• The Annual Accounts are prepared on a "going concern" basis.
• The Company has laid down internal financial controls and that such internal
financial controls are adequate and were operating effectively.
• The Company has devised proper system to ensure compliance with the provisions
of all applicable laws and such systems were adequate and operating effectively.
14. Conservation of Energy, R& D and Technology Absorption:
• Conservation of Energy:
The Company has taken energy savings measures, viz., The buildings are ergonomically
designed to consume less power and to include more natural light and ventilation. Use of
major materials in construction which are certified by IGBC (Indian Green Building
Council)lmplementing rain water harvesting system and Sewage Treatment Plants (STP) in the
projects. Use of treated water for landscaping and flushing. Use of LED and Solar power
for street lighting and common areas to save power. As the Company is not a manufacturing
one, R & D activities are not applicable.
• Technology Absorption:
Company works on a mechanized process to reduce cost and increase the efficiency of the
operations. By appointing architects, consultants technology up-gradation has been brought
to the projects. The Sewage Treatment Plants (STP) - latest technology has been adopted,
which is more efficient and energy savings.
15. Deposits:
The Company has not accepted any deposits in terms of the provisions of Section 73 of
the Companies Act, 2013during the year under review.
16. Particulars of Loans, Guarantees Investments as required u/s section 186 of the
Companies Act:
The Company has provided counter guarantee to Axis bank Limited to tune of Rs. 1.57
Crores on behalf the Joint Venture Entity M/s. Spark Town Planners Private Ltd. Details of
related party transactions forming part of the financials attached separately.
17. Particulars of Contracts & arrangements with related parties as required
u/s section 188 of the companies act:
The Particulars of contracts or arrangements with related parties referred to in
Section 188(1) of the Companies Act, 2013, in prescribed Form AOC 2, is appended as
Annexure IV to this report.
18. Foreign Exchange Outflows:
The Particulars, as prescribed under sub-section (3)(m) of Section 134 of the Companies
Act, 2013, read with the Companies (Accounts) Rules, 2014:
Amount in Lakhs
| S. No |
Particulars |
Amount |
| 1 |
Foreign exchange earnings |
Nil |
| 2 |
Foreign exchange expenditure |
Nil |
19. Corporate Governance:
Your Company has complied with all the requirements of corporate governance stipulated
under clause 42 of the SME listing agreement entered into the National Stock Exchange of
India Limited. A report on Corporate Governance forms part of this report.
The practicing Company Secretary have examined the requirements of corporate governance
stipulated under clause 42 of the SME listing agreement and have certified the compliance.
The certificate is reproduced in the corporate governance report attached as Annexure V
to this report.
20. Corporate Social Responsibility (CSR):
Pursuant to Section 135 of the Act read with Companies (Corporate Social Responsibility
Policy) Rules, 2014, the Board has constituted a CSR committee and based on the
recommendation of the Committee the CSR policy has been approved by the Board of Directors
of the Company.
During the year under review, the Company contributed the sum of Rs. 6 Lakhs towards
its CSR activities as against statutorily required i.e. 2% of the average net profit for
three preceding financial years amounting to Rs. 13.581akhs, for want of identification of
the relevant activities. In the near future, the Company will increase its contributions
to CSR activities as the Company is committed to contribute towards the betterment of the
Communities where we have our projects.
The Company has contributed an amount of Rs. 29.75 lakhs in the month of April 2018.
The CSR Report is attached as Annexure VI to this Report.
21. Risk Management Policy:
A statement indicating development and implementation of a risk management policy for
the company including identification therein of elements of risk, if any, which in the
opinion of the Board may threaten the existence of the company.
22. Vigil Mechanism:
The Company has established a vigil mechanism and overseas through the committee, the
genuine concerns expressed by the employees and other Directors. The Company has also
provided adequate safeguards against victimization of employees and Directors who express
their concerns. The Company has also provided direct access to the chairman of the Audit
Committee on reporting issues concerning the interests of co employees and the
Company."
23. Extract of Annual Return:
In accordance with Section 134(3)(a) of the Companies Act, 2013, an extract of the
annual return in the prescribed format is appended as Annexure VII to this Boards
Report. This has been published at Company’s Website : www.qvcrealtv.com
24. Directors:
Following persons constituted the Board of Directors of the Company during the
financial year under review:
| s. No |
Name of the Director |
Designation |
| 1 |
Mr. Prakash Gurbaxani |
Managing Director |
| 2 |
Mr. Anantkumar Srinivasarao Kulkarni |
Independent Director |
| 3 |
Mr. Vinode Thomas |
Director |
| 4 |
Mr. Anand Sadashiv Kapre |
Independent Director |
|
Mr. Sheshagiri Kulkarni |
Independent Director |
| 6 |
Mrs. Monica Gurbaxani |
Additional Director |
• Mr. Venkatachalam Narayanan appointed as a Company Secretary with effect from
November 01,2017 and Mrs. Monica Gurbaxani appointed as an Additional Director ofthe
Company with effect from March 22, 2018.
• Mr. Sheshagiri Kulkami reappointed as a Director of the Company liable to retire
by rotation consent to act as director received from them for record.
The Company has received declarations from all Independent Directors confirming that
they meet the criteria of independence as prescribed under the Companies Act, 2013.
25. Acknowledgements:
The Directors take this opportunity to place on record their sincere thanks to the
investors, bankers, auditors and all the employees for their support.
| Place: Bengaluru, |
Prakash Gurbaxani |
| Date : May 28, 2018 |
Managing Director |
|
DIN:00255401 |
Annexure -I
Form AOC-I
(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of
Companies (Accounts) Rules, 2014
Statement containing salient features of the financial statement of
subsidiaries/associate companies/joint ventures
Part "A": Subsidiaries
Amounts in INR
| Name of the Company |
Agrim Realtech Private Limited |
Niwas Realtech Private Limited |
Shakti Buildwell Private Limited |
| Reporting period for the subsidiary concerned, if different from the holding
company’s reporting period |
Nil |
Nil |
Nil |
| Reporting currency and Exchange rate as on the last date of the relevant Financial
year in the case of foreign subsidiaries |
NA |
NA |
NA |
| Share Capital |
1,00,000 |
1,00,000 |
1,00,000 |
| Reserves & Surplus |
-6,99,784 |
8,47,144 |
-7,00,985 |
| Total assets |
0 |
28,67,14,591 |
45,289 |
| Total Liabilities |
0 |
28,67,14,591 |
45,289 |
| Investments |
0 |
0 |
0 |
| Turnover |
0 |
1,75,000 |
0 |
| Profit before taxation |
-1,21,300 |
52,997 |
-94,213 |
| Provision for taxation |
0 |
13,650 |
0 |
| Profit after taxation |
-1,21,300 |
39,347 |
-94,213 |
| Proposed Dividend |
0 |
0 |
0 |
| % of shareholding |
99.99% |
99.99% |
99.99% |
Notes: The following information shall be furnished at the end of the statement:
• Names of subsidiaries which are yet to commence operations: NIL
• Names of subsidiaries which have been liquidated or sold during the year: NIL
Part "B": Associates and Joint Ventures
Statement pursuant to Section 129 (3) of the companies Act, 2013 related to Associate
Companies and Joint Ventures
| SI. No. |
Name of Associates/Joint Ventures |
Spark Town Planners Private Limited |
| 1. |
Latest audited Balance Sheet Date |
31.03.2018 |
| 2. |
Shares of Associate/Joint Ventures held by the company on the year end |
5050 Equity shares of Rs.l0/-each |
| 3. |
Amount of Investment in Associates/Joint Venture |
Rs. 1,00,000 |
|
Extend of Holding % |
50% |
| 4. |
Description of how there is significant influence |
Being one of the two promoters |
| 5. |
Reason why the associate/joint venture is not consolidated |
Consolidated |
| 6. |
Net worth attributable to our shareholding as per latest audited Balance Sheet |
(23,18,867/-) |
| 7. |
Profit / Loss for the year Considered in Consolidation |
(60,88,808/-) |
• Names of associates or Joint Ventures which are yet to commence operations: NIL
• Name of associates or Joint Ventures which have been liquidated or sold during
the year: NIL
Annexure II
FORM AOC-3
(Pursuant to first proviso to sub-section (1) of section 136 of the Act and Rule 10 of
Companies (Accounts) Rules, 2014)
Statement containing salient features of Balance Sheet and Profit and Loss Account Form
of Abridged Financial Statements Name of the Company: QVC Realty Co. Limited. (Standalone)
Abridged Balance Sheet as at 31.03.201&4/wow/ in INR
| SI. no. |
|
Particulars |
Figures at the end of Current reporting period 31st March
2018 |
Figures at the end of Previous reporting period 31st March
2017 |
| (I) |
|
EQUITY AND LIABILITIES |
|
|
|
(1) |
Shareholders’ Funds |
|
|
|
|
(a) Paid-up Share Capital |
|
|
|
|
i) Equity |
77,16,950 |
77,16,950 |
|
|
(ii)Preference |
3,25,98,000 |
3,36,71,350 |
|
|
(b) Reserves and surplus |
|
|
|
|
|
|
|
|
|
(i) Capital Reserves(including Revaluation reserve, if any) |
|
|
|
|
(ii) Revenue Reserves |
8,73,24,050 |
8,62,50,700 |
|
|
(iii) Surplus |
19,03,19,383 |
16,46,60,398 |
|
|
( c ) Money received against share warrants |
|
|
|
(2) |
Share application money pending allotment |
|
|
|
(3) |
Non-current liabilities |
|
|
|
|
(a) Long-term borrowings |
|
- |
|
|
(b) Deferred tax liabilitiesfNet) |
|
|
|
|
(c) Other Long-term liabilities |
|
- |
|
|
(d) Long-term provisions |
45,94,444 |
38,80,121 |
|
(4) |
Current liabilities |
|
|
|
|
(a) Short-term borrowings |
|
- |
|
|
(b) Trade Payables |
3,07,99,980 |
1,39,72,424 |
|
|
(c) Other Current Liabilities |
5,82,34,41,250 |
5,60,59,47,781 |
|
|
(d) Short term provisions, |
1,39,405 |
1,40,86,694 |
|
|
Total of (I) to (4) |
6,17,69,33,462 |
5,93,01,86,418 |
Abridged Balance Sheet as at 31.03.2018
INR
| SI. no. |
|
Particulars |
Figures at the end of Current reporting period 31st March
2018 |
Figures at the end of Previous reporting period 31st March
2017 |
|
|
ASSETS |
|
|
|
(5) |
Non-Current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets (Original cost less Depreciation |
65,67,676 |
83,96,232 |
|
|
(ii) Intangible assets (Original cost less depreciation/amortization |
|
|
|
|
(iii) Capital work-in-Progress |
|
|
|
|
(iv) Intangible assets under development. |
|
|
|
|
(b) Non-Current Investments |
13,42,360 |
13,42,360 |
|
|
(c) Deferred tax assets |
11,41,749 |
7,68,681 |
|
|
(d) Long-term loans advances |
62,24,576 |
77,24,678 |
|
|
(e) Other Non-current assets |
|
|
|
(6) |
Current Assets |
|
|
|
|
Current Investments |
35,79,47,308 |
4,91,68,838 |
|
|
Inventories |
2,60,27,62,398 |
2,86,09,39,818 |
|
|
Trade Receivables |
27,05,027 |
43,73,008 |
|
|
Cash and Bank Balances |
31,12,28,442 |
10,10,11,746 |
|
|
Short-term Loans and Advances |
1,71,12,14,934 |
1,76,51,24,352 |
|
|
Other Current Assets |
1,17,57,98,993 |
1,131,336,704 |
|
|
Total of (5) to (6) |
6,17,6933,462 |
5,93,01,86,418 |
|
|
|
|
|
Note: Complete Balance Sheet, Statement of Profit and Loss Account other Statements and
notes thereto prepared as per requirements of Schedule III to the Act are available at the
Company’s website at www.qvcrealty.com
Abridged Profit and Loss Account for the vear ended on 31.03.2018 Amount in INR
| Sr. No |
Particulars |
Figures for the current reporting period March 31, 2018 |
Figures for the Previous reporting period March 31, 2017 |
| I |
Income |
Nil |
Nil |
|
Revenue from operations |
51,11,15,417 |
37,65,34,088 |
| II |
Other Income |
2,30,37,974 |
1,09,09,294 |
| III |
Total Income (I+H) |
53,41,53,391 |
38,74,43382 |
| IV |
Expenditure |
Nil |
Nil |
| (a) |
Cost of materials consumed |
20,49,67,153 |
14,85,68,814 |
| (b) |
Purchase of stock-in-trade |
Nil |
Nil |
| (c) |
Changes in inventories of finished goods, work-inprogress and stock-in-trade |
16,47,91,977 |
14,46,64,320 |
| (d) |
Employee benefit expense |
1,50,83,356 |
1,16,66,907 |
| (e) |
Finance costs |
12,07,130 |
2,29,811 |
| (f) |
Depreciation and amortization expenses |
21,47,973 |
22,39,321 |
| (g) |
Other Expenses |
3,57,97,683 |
1,18,64,142 |
|
Total Expenditure (a to g) |
42,39,95,272 |
31,92,33,315 |
| V |
Profit before exceptional and extraordinary items and tax (1II-IV) |
11,01,58,119 |
6,82,10,067 |
| VI |
Exceptional Items |
Nil |
Nil |
| VII |
Profit before extraordinary items and tax (V-VI) |
11,01,58,119 |
6,82,10,067 |
| VIII |
Extraordinary Items |
Nil |
Nil |
| IX |
Profit/(loss) before tax (VII-VIII) |
11,01,58,119 |
6,82,10,067 |
| X |
Tax Expense |
2,76,00,000 |
2,10,00,000 |
|
Deferred Tax |
(3,73,067) |
(3,85,462) |
| XI |
Profit/(Loss) after tax for the period from continuing operations (IX-X) |
8,29,31,186 |
4,75,95,529 |
| XII |
Profit/(loss) from discontinued operations |
Nil |
Nil |
| XIII |
Tax expenses of discontinued operations |
Nil |
Nil |
| XIV |
Profit/(loss) from discontinued operations (after tax) (XII-XIII) |
Nil |
Nil |
| XV |
Profit/(Loss) for the year (XI+XIV) |
8,29,31,186 |
4,75,95,529 |
| XVI |
Earnings per equity share: |
|
|
|
Basic |
107.47 |
61.68 |
|
Diluted |
20.71 |
11.75 |
Details of Revenue from Operations
| Sr. No |
Particulars |
Figures for the current reporting period March 31,2018 |
Figures for the Previous reporting period March 31,2017 |
| I |
Sale of Products manufactured |
Nil |
Nil |
| 11 |
Sale of goods traded |
Nil |
Nil |
| III |
Revenue from services provided |
51,11,15,417 |
37,65,34,088 |
| IV |
Other Operational Revenue |
2,30,37,974 |
1,09,09,294 |
Abridged Cash Flow Statement for the year ended on March 31, 2018 An
| Sr. No |
Particulars |
Figures for the current reporting period March 31,2018 |
Figures for the Previous reporting period March 31,2017 |
| 1. |
Cash flows from Operating Activities |
55,48,08,860 |
15,37,84,957 |
| 2 |
Cash flows from Investing activities |
(28,61,12,822) |
12,11,86,688 |
| 3 |
Cash flows from Financing activities |
(5,84,79,343) |
(248430458) |
| 4 |
Net increase/(decrease) In cash and cash Equivalents |
21,02,16,695 |
2,65,41,187 |
| 5 |
Cash and cash equivalents At the beginning of period |
10,10,11,746 |
7,44,70,559 |
| 6 |
Cash and cash equivalents At the end of period |
31,12,28,442 |
10,10,11,746 |
FOR OVC REALTY CO. LIMITED
|
Prakash Gurbaxani |
|
Managing Director |
|
DIN: 0255401 |
| Place: |
Bengaluru |
| Date: |
May 28, 2018 |
Annexure -IV
Form AOC-2
(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of
the Companies (Accounts) Rules, 2014)
Form for disclosure of particulars of contracts/arrangements entered into by the
company with related parties referred to in sub-section (1) of section 188 of the
Companies Act, 2013 including certain arms length transactions under third proviso thereto
• Details of contracts or arrangements or transactions not at arm’s length
basis: NIL
• Details of material contracts or arrangement or transactions at arm’s
length basis:
| (a) |
Name(s) of the related party and nature of relationship: |
Shakti Buildwell Private Limited |
Agrim Realtech Private Limited Subsidiaries |
Niwas Realtech Private Limited |
QVC Star Realty Private Limited |
Cigam Ventures Private Limited |
Spark Town Planners Private Limited |
Mr. Prakash Gurbaxani, Managing Director |
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Subsidiari es |
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Subsidiaries |
Enterprise under the common control |
Enterprise under the common control |
Joint Ventures |
KMP |
| (b) |
Nature of contracts/arran gements/transa ctions: |
Expenses incurred by the Company Rs.97,700/- |
Expenses incurred by the Company Rs. 1,15,800/- |
Expenses incurred by the Company Rs. 1,30,070/- |
Expenses incurred by the Company Rs. Nil |
Expenses incurred by the Company Rs. 5,30,758/- |
Share of Revenue earned by the Company Rs. 8442983 |
Managerial Remunerat ion Rs. 17528215/ |
| (C) |
Duration of the contracts / arrangements/t ransactions: |
April 1 2017 to March 31, 2018 |
April 1 2017 to March 31,2018 |
April 1 2017 to March 31, 2018 |
April 1 2017 to March 31, 2018 |
April 1 2017 to March 31, 2018 |
April 1 2017 to March 31,2018 |
April 1 2017 to March 31, 2018 |
| (d) |
Salient terms of the contracts or arrangements or transactions |
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including the value, if any : |
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| (e) |
Date(s) of approval by the Board: |
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| (0 |
Amount paid as advances, if any: |
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Prakash Gurbaxani
Managing Director
DIN:0255401
Date: May 28,2018
Place: Bengaluru
+91-9892691696
