To,
The Members,
ATLANTA DEVCON LIMITED
Your Directors have pleasure in presenting their 28th Annual Report on the
business and operations of the Company and the accounts for the Financial Year ended March
31, 2023.
1. FINANCIAL SUMMARY OF THE COMPANY
The summarized Audited Standalone Financial Performance of your Company for the
Financial Year 202223 and the previous Financial Year 202122 is tabled below:
PARTICULARS |
202223 |
202122 |
| Revenue from Operations |
0 |
0 |
| Other income |
0 |
0 |
Total Income |
0 |
0 |
| Profit/loss before Depreciation, Finance |
2.133 |
2.281 |
Costs, Exceptional items and Tax Expense |
|
|
| Less: Depreciation |
0 |
0 |
| Profit/loss before Finance Costs, |
2.133 |
2.281 |
| Exceptional items and Tax Expense |
|
|
| Less: Finance Cost |
0 |
0 |
| Profit/loss before Exceptional items and |
2.133 |
2.281 |
| Tax Expense |
|
|
| Less: Exceptional Items |
0 |
0 |
| Profit / (Loss) Before Tax |
2.133 |
2.281 |
| Provision for Tax & Deferred Tax |
0 |
0 |
| Profit / (Loss) After Tax |
2.133 |
2.281 |
2. PERFORMANCE OF THE COMPANY:
The Company has not carried any commercial activities during the financial year 202223.
However, the Company has incurred some unavoidable fixed expenditure like employee benefit
expenses and miscellaneous expenses during the financial year 202223. The company will try
to achieve the performance in terms of turnover well as profit in next year by making more
initiative in the activities of the company.
3. STATE OF COMPANY AFFAIRS:
The main business activity of the company is Development of land. However, the company
has not carried out business activities during the financial year 202223.
SEGMENTWISE POSITION OF BUSINESS AND ITS OPERATIONS: The Company has not carried
out business activities during the financial year 202223. Accordingly there are no
segments of business activity of the Company.
CHANGE IN STATUS OF THE COMPANY: The status of the company has not been changed
during the financial year 202223.
KEY BUSINESS DEVELOPMENTS; Not applicable
CHANGE IN THE FINANCIAL YEAR: The Company has not changed its financial year
during the year.
CAPITAL EXPENDITURE PROGRAMMES: Not Applicable
DETAILS AND STATUS OF ACQUISITION, MERGER, EXPANSION MODERNIZATION AND
DIVERSIFICATION: Not Applicable
DEVELOPMENTS, ACQUISITION AND ASSIGNMENT OF MATERIAL INTELLECTUAL PROPERTY RIGHTS: Not
Applicable
ANY OTHER MATERIAL EVENT HAVING AN IMPACT ON THE AFFAIRS OF THE COMPANY:. No
material events have occurred during the financial year 202223 which impact on the affairs
of the Company.
4. DIVIDEND:
Due to accumulated losses in the Company, the directors did not recommend any Dividend
for the Financial Year under review.
5. THE AMOUNTS, IF ANY, WHICH IT PROPOSES TO CARRY TO ANY RESERVES:
Due to loss in the current financial year 202223, the company is not required to
transfer any amount to Reserves account.
6. DIRECTORS AND KEY MANAGERIAL PERSONNEL:
Your Company is having dynamic, qualified, experienced, committed and versatile
professionals in the Management of the Company. The Composition of Board of Director
during the financial year 202223 under review is as follows:
NAME OF DIRECTOR |
DESIGNATION |
| Mr. Aswin kumar Bagdai |
Managing Director & CFO |
| Mr. Dharmesh Solanki |
Independent Director |
| Mr. Pradeep Swain* |
NonExecutive Director |
The Board of Directors of your Company are fully committed to steering the organization
for longterm success through setting of strategies, delegating responsibilities and
providing an overall direction to the business, while effectively managing risks and
ensuring high quality of governance by keeping the Company on the path of Sustainable
growth and development.
*In accordance with the provisions of Section 152(6) of the Companies Act, 2013 and in
terms of the Memorandum and Articles of Association of the Company, Mr. Pradeep Swain
(DIN: 05116867), NonExecutive Director of the Company retires by rotation at this ensuing
Annual General Meeting and has offered himself for reappointment.
Further, all the Directors of the Company have confirmed that they are not disqualified
from being appointed as Directors in terms of Section 164 of the Companies Act, 2013.
During the year under review, the nonexecutive directors of the Company had no
pecuniary relationship or transactions with the Company, other than sitting fees,
commission and reimbursement of expenses incurred by them for the purpose of attending
meetings of the Board/Committee of the Company.
The Company has received declarations from all the Independent Director of the Company
confirming that they meet with the criteria of independence as prescribed under subsection
6 of Section 149 of the Companies Act, 2013 and under Regulation 16 (b) of SEBI (Listing
Obligations and Disclosure Requirements) Regulation 2015 and complied with the Code for
Independent Directors prescribed in Schedule IV to the Act.
7. MEETINGS:
During the year Six (6) Board Meetings and Four (4) Audit Committee Meetings were
convened and held. The dates on which the said Board meetings were held:
BOARD MEETING |
AUDIT COMMITTEE MEETING |
NRC |
SRC |
| 1 30.05.2022 |
30.05.2022 |
10.08.2022 |
30.06.2022 |
| 2 15.06.2022 |
10.08.2022 |
|
30.09.2022 |
| 3 10.08.2022 |
14.11.2022 |
|
31.12.2022 |
| 4 27.08.2022 |
14.02.2023 |
|
31.03.2023 |
| 5 14.11.2022 |
|
|
|
| 6 14.02.2023 |
|
|
|
The intervening gap between the Meetings was within the period prescribed under the
Companies Act, 2013.
8. COMMITTEES:
The company has several committees which have been established as a part of best
corporate governance practices and are in compliance with the requirements of the relevant
provisions of applicable laws and statues.
The Board has constituted following Committees.
Audit Committee
Nomination and Remuneration Committee
Stakeholders Relationship Committee
The details with respect to the compositions, powers, roles, terms of reference etc. of
relevant committees are given in detail in the ‘Report on Corporate Governance of
the company which forms part of this Annual Report.
9. EXTRACTS OF ANNUAL RETURN:
The Annual Return of the Company as on March 31, 2023 is available on the Companys
website and can be accessed at (https://www.atlantadevcon.com/).
10.STATUTORY AUDITORS:
Pursuant to the provisions of Section 139 of the Companies Act, 2013, M/S.V B L
& ASSOCIATES, Chartered Accountants, (F.R.NO.148158W), has been appointed as a
statutory auditor of the Company at the AGM held on 28th September, 2019 to
hold office till the conclusion of AGM of financial year 202324.
The Auditors comments on your companys accounts for year ended March 31, 2023 are
selfexplanatory in nature and do not require any explanation as per provisions of Section
134(3)(f) of the Companies Act, 2013.
Following qualifications, reservation or adverse remark or disclaimer made by Statutory
Auditor in its report:
1. The confirmation statements of balances outstanding in the financial
statements relating to the advances given for Land Development, Purchase of Land, Purchase
of Property as well as loans given to other parties have not been made available.
As a result of this matter, I was unable to determine whether any adjustments might
have been found necessary in respect of recorded or unrecorded transactions and loans
& advances accounts in the Balance Sheet and the corresponding elements making up the
Statement of Profit and Loss and Cash Flow Statement.
The Board has undertaken to take corrective steps for the abovementioned qualification
and remarks.
11.DISCLOSURE OF REPORTING OF FRAUD BY AUDITORS UNDER SECTION 143(12):
During the financial year 202223, the Statutory Auditor has not reported to the audit
committee any instance of fraud committed against the Company by its employees or officers
under section 143(12), the details of which need to be reported in Boards Report.
12.COST RECORDS:
Pursuant to Section148 (1) of the Companies Act, 2013 read with Rule 3 of Companies
(Cost Records and Audit) Rules, 2014, Company does not fall under the criteria for
maintaining cost record for the financial year 202223.
13.SECRETARIAL AUDITORS AND SECRETARIAL AUDIT REPORT:
Pursuant to Section 204 of the Companies Act, 2013, your company had appointed M/s. A.
Shah & Associates, Practicing Company Secretaries, Ahmedabad, as its Secretarial
Auditors to conduct the Secretarial Audit of the company for F.Y.202223. The Report of the
Secretarial Auditor for the F.Y.202223 is annexed to this report as "Annexure
I".
The Board of Directors of the Company has discussed the remarks as mentioned in
Secretarial Audit Report at arms length. The qualification raised by the Secretarial
Auditor in its report and the justification of Board of Directors on the same are as
follows:
Qualifications |
Justification by Board |
1 The company has not appointed Internal Auditor in the Company as per
Section 138 of the Companies Act, 2013. |
The Board assures to appoint Internal Auditor in the current financial
year 202324. |
2 The company has made delay in submission of AOC4 XBRL for financial
year 202122 |
The Company will Comply with the same in future. |
3 The company has not filed form MGT15 report on AGM to ROC for 202122 |
The Company will Comply with the same in future. |
4As per Reg. 6(2) of SEBI (LODR) Regulations, 2015 the company has not
appointed Company Secretary as a Compliance Officer. |
The Company is yet to comply with the regulation of appointment of
Company Secretary as a compliance officer of the company. |
5 The company had not submitted Regulation 7(3) Compliance Certificate
certifying maintaining electronic transfer facility for year ended 31st March, 2023 |
The company had not complied with the same due to nonreceipt of data
from RTA. The Company will Comply with the same in future. |
6The company had not submitted Regulation 13(3) to BSE for all the
quarters. |
The Company will Comply with the same in future. |
7 As per Reg. 14 of SEBI (LODR) Regulations, 2015 the company had Not
Paid Annual Listing Fees. |
The Company has not paid Annual Listing Fees to the stock Exchange with
in prescribed time due to liquidity crunch. |
8 Noncompliance with respect to Composition of Board of
Director, Audit Committee, Nomination and Remuneration committee and Stakeholder
Relationship committee for the year ended on 31st March, 2023. |
The Composition of the Board of Directors, Audit
Committee, Nomination and Remuneration committee and Stakeholder Relationship committee of
the Company was not as per the requirement of Regulation 17,18,19,20 of SEBI (LODR)
Regulations, 2015 due to not having adequate number of Independent Director and woman
Director on the Board of the Company. The Company is in process of appointment of new
directors on the Board of the Company. |
9 Regulation 30 of SEBI (LODR) Regulations, 2015 Delay in submission
of the outcome of the Board Meeting held on 30.05.2022 for the quarter ended 31.03.2022 |
The company has taken corrective steps to not repeat the same in future. |
10 Regulation 31 The company had not submitted Shareholding Pattern on
BSE for the all quarters for financial year 202223. |
The company had not submitted Regulation 31 Shareholding Pattern to BSE
due to nonreceipt of data from RTA. The Company will Comply with the same in future. |
11 Reg 31(2) of SEBI (LODR) Regulations, 2015 100% (Hundred percent)
shareholding of promoter and promoter group is not held in Dematerialized Form. |
The Company has taken steps to ensure that the physical shares held by
promoter or promoter group are fully converted into DEMAT. However, still three
shareholders of promoter group are holding shares in physical. |
12 Regulation 33 The Company has made Delay in submission of Financial
results XBRL for the quarter ended on September 2022. |
The company has complied with the said regulation but after completion
of prescribed time specified. |
13 Regulation 33(d) of SEBI (LODR) Regulations, 2015 The Auditor of
the Company is not peer reviewed. |
It has been observed that the statutory auditor of the Company who is
issuing Limited Review Report and Audit Report on a quarterly and yearly basis is not peer
reviewed by ICAI. The Company is in process to appoint a new auditor having peer review
certificate. |
14 Regulation 34 of SEBI (LODR) Regulations, 2015 the company has not
provided soft copies/hard copies of annual report for the financial year 2021 22 to the
shareholders. |
The company is still not able to comply with the said regulation. |
15 Regulation 36 of SEBI (LODR) Regulations, 2015 Dispatch of Notice
of AGM and Annual Report to shareholders. |
The Company is yet to provide proof of dispatch of Notice of AGM and
Annual Report to shareholders for the Financial Year 202122. |
16 Regulation 40(9) PCS certificate on share transfer, transmission
with in time to BSE for year ended 31st March, 2023 |
The Company has not submitted Regulation 40(9) to BSE for the year ended
on 31st March 2023. |
17 Regulation 44 of SEBI (LODR) Regulations, 2015 & Section 108 of
the Companies Act, 2013 E voting facilities to shareholders. |
The company has not provided evoting facility to its shareholders of the
company at AGM. The company will comply with the said requirements from the current
financial year 202223. |
18 The Company is yet to comply with Regulation 46 of The Securities
and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation,
2015 regarding maintaining a Functional Website for disseminating information to
shareholders |
It has been observed that the Company has maintained a website of the
Company. However, it has not been updated by the Company as per the requirement of
Regulation 46 of SEBI(LODR) Regulations, 2015. |
19 Regulation 47 of SEBI (LODR) Regulations, 2015 Publication of
Advertisement in Newspaper for intimation of Board meeting, financial Results, and Notice
of AGM, Book Closure and E voting pursuant to section 91 of Companies Act, 2013. |
The Company had not complied with the requirement of Regulation 47 of
SEBI (LODR) Regulations, 2015 with respect to publication of newspaper advertisement with
respect to intimation of Board meeting, publication of quarterly financial Results, Notice
of AGM, Book Closure and E voting. The Company will Comply with the same in future. |
20 Non Submission of Regulation 74(5) 1996 for all the quarters of
financial year 202223. |
The Company has not complied with Regulation 74(5) of SEBI (DP)
Regulation, 1996 for all the quarters of financial year 202223. |
21 Non submission of Regulation 76 of SEBI (DP) Regulation, 1996 for
all the quarters of financial year 202223. |
The Company has not complied with Reg 76 of SEBI (DP) Regulation, 1996
and Reg 74(5) due to nonreceipt of data from RTA. |
22 Non submission of Initial and Annual Disclosure to be made by an
entity identified as a Large Corporate |
The company has not complied with the requirement of the SEBI circular
LIST/COMP/59/201920 dated 26th November, 2018 regarding disclosure of large
corporate. |
23 LIST/COMP/54/201920 DATED 2001 2020: Details of Statutory Auditor
is not updated on BSE through Management details tab on BSE Listing center |
The Company is yet to update details of Statutory Auditor of the Company
through BSE Listing Centre. |
24 As per regulation 3(5) & 3(6) of SEBI (Prohibition of Insider
Trading) Regulations, 2015, Company has not filed Structured Digital Database Compliance
Certificate for the quarter ended 30th September 2022, 31st December 2022, and 31st March,
2023. |
Due to nonappointment of Company Secretary (Compliance Officer), the
company has not complied with the same. |
25 The company had been suspended for trading in equity shares by BSE
w.e.f. January 2, 2020 due to noncompliances of certain Regulation of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015. BSE has sent several reminder
mails to company however The company has not taken any effective steps in the matter. |
The company is yet to comply with the same. |
The trading activity is still under suspension. |
|
26 The Independent director has not registered himself under ID
Databank which is required as per rule 6 of the Companies (Appointment and Qualifications
of Directors) Rules, 2014. |
The Independent directors of the company are yet to be registered under
the ID Databank. |
14.INTERNAL FINANCIAL CONTROLS:
During the year, the Company continued to implement their suggestions and
recommendations to improve the control environment. Their scope of work includes review of
processes for safeguarding the assets of the Company, review of operational efficiency,
effectiveness of systems and processes, and assessing the internal control strengths in
all areas.
15.BOARD EVALUATION:
The Board of Directors has carried out an annual evaluation of its own performance,
Board committees and individual directors pursuant to the provisions of the Companies Act,
2013 and the corporate governance requirements as prescribed by Securities and Exchange
Board of India ("SEBI") under Regulation 17 to 27 and clauses (b) to (i) of
subregulation (2) of regulation 46 and para C, D and E of Schedule V of SEBI (Listing
Obligation and Disclosure Requirement) Regulation 2015.
The performance of the Board was evaluated by the Board after seeking inputs from all
the directors on the basis of the criteria such as the Board composition and structure,
effectiveness of board processes, information and functioning, etc.
The performance of the committees was evaluated by the board after seeking inputs from
the committee members on the basis of the criteria such as the composition of committees,
effectiveness of committee meetings, etc.
The Board and the Nomination and Remuneration Committee ("NRC") reviewed the
performance of the individual directors on the basis of the criteria such as the
contribution of the individual director to the Board and committee meetings like
preparedness on the issues to be discussed, meaningful and constructive contribution and
inputs in meetings, etc. In addition, the Chairman was also evaluated on the key aspects
of his role.
In a separate meeting of independent Directors, performance of nonindependent
directors, performance of the board as a whole and performance of the Chairman was
evaluated, taking into account the views of executive directors and nonexecutive
directors. The same was discussed in the board meeting that followed the meeting of the
independent Directors, at which the performance of the Board, its committees and
individual directors was also discussed.
16. DEPOSITS:
Your company has not accepted any fixed deposits from the public within the provisions
of Section 73 to 76 of the Companies Act, 2013. Hence, the disclosures required as per
Rule 8(5)(v)&(vi) of the Companies (Accounts) Rules, 2014, read with Section 73 to 76
of the Companies Act, 2013 are not applicable to your Company.
17.CORPORATE GOVERNANCE:
The Company believes that good Corporate Governance is a continuous process and it is
our continuous endeavor to achieve good governance, by way of a conscious and
conscientious effort whereby ensuring the truth, transparency, accountability and
responsibility in all our dealings with all our stakeholders.
A separate section on Corporate Governance Standards followed by your company, as
stipulated under Regulation 34(3) read with Schedule V of SEBI (Listing Obligation and
Disclosure Requirement) Regulation 2015 is enclosed as Annexure to this Report. The Report
on Corporate Governance also contains certain disclosures required under Companies Act,
2013.
A Certificate from M/S. A. SHAH & ASSOCIATES, Practicing Company Secretaries,
conforming compliance to the conditions of Corporate Governance as stipulated under
Regulations 17 to 27 and clauses (b) to (i) of subregulation (2) of regulation 46 and
paraC, D and E of Schedule V of SEBI (Listing Obligation and Disclosure Requirement)
Regulation 2015, is annexed to this Report.
18.VIGIL MECHANISM:
In pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013,
and Regulation 22 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations,
2015, a Vigil Mechanism for directors and employees to report genuine concerns has been
established.
19.CONSEVATION OF ENERGY & ABSORTION TECHNOLOGY:
(a)Conservation of energy
| (i) the steps taken or impact on conservation of energy |
N.A |
| (ii) the steps taken by the company for utilizing alternate sources of
energy |
N.A |
| (iii) the capital investment on energy conservation equipments |
N.A |
(b) Technology absorption
| (i) the efforts made towards technology absorption |
N.A |
(ii) the benefits derived like product improvement, cost reduction,
product development or import substitution |
N.A |
(iii) in case of imported technology (imported during the last three
years reckoned from the beginning of the financial year) |
N.A |
| (a) the details of technology imported |
N.A |
| (b) the year of import; |
N.A |
| (c) whether the technology been fully absorbed |
N.A |
(d) if not fully absorbed, areas where absorption has not taken place,
and the reasons thereof |
N.A |
| (iv) the expenditure incurred on Research and Development |
N.A |
20.FOREIGN EXCHANGE EARNINGS /OUTGO:
As the Company has not carried out any activities relating to the export and import
during the financial year. There is no foreign exchange expenses and foreign income during
the financial year.
21.NOMINATION AND REMUNERATION POLICY:
The Board has on the recommendation of Nomination and Remuneration / Compensation
Committee framed a policy on directors appointment and remuneration of Directors
including criteria for determining qualification, positive attributes, independence of
directors and remuneration for Directors, Key Managerial Personnel and other employees.
The policy is annexed to this report as "Annexure II".
22.PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
During the financial year 202223 there were no contract and arrangement done with the
related parties. The policy on material Related Party Transactions and also on dealing
with Related Party Transactions is approved by the Audit Committee and the Board of
Directors.
The details of every contract or arrangements entered into by the Company with related
parties as required under subsection (1) of section 188 of the Companies Act, 2013 is
disclosed in Form No. AOC2. "Annexure III".
23.PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:
In terms of provisions of Section 134(3)(g), there was no Loans, Guarantees Or
Investments provided by company as per section 186 of the companies act, 2013. The
Particulars of Loans, Guarantees or Investments under Section 186, is annexed hereto as "Annexure
IV" and forms part of this Report.
24.PARTICULARS OF EMPLOYEES REMUNERATION:
A. The ratio of the remuneration of each director to the median employees remuneration
and other details in terms of subsection 12 of Section 197, of the Companies Act, 2013
read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, are forming part of this report as "Annexure V".
B. The statement containing particulars of employees as required under Section 197(12)
of the Companies Act, 2013 read with Rule 5(2) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 is not provided as no employees is paid
remuneration of Rs. 8.5 Lac Per month and Rs. 1.02 Cr. Per Annum.
25. HUMAN RESOURCES:
Your Company treats its "human resources" as one of its most significant
assets. The Company continues its focus on retention through employee engagement
initiatives and provides a holistic environment where employees get opportunities to
realize their potential. A number of programs that provide focused people attention are
currently underway. Your Company thrust is on the promotion of talent internally through
job rotation and job enlargement. The Companys Health and Safety Policy commits to
provide a healthy and safe work environment to all employees.
26.CORPORATE SOCIAL RESPONSIBILITY (CSR)
The company does not fall under the purview of the section 135 of the Companies Act,
2013 which requires formulating a Corporate Social Responsibility Committee and adopting
any activities as specified in Schedule VII.
27.SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,PROHIBITION AND REDRESSAL) ACT,
2013:
1. Disclosure under Section 22 of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013:
Pursuant to Section 22 of the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 every company having 10 or more employees engaged in
the company during the financial year is required to set up an Internal Complaints
Committee to look into complaints relating to sexual harassment at workplace received from
any women employee.
There are only one employee is working in the Organization. Hence, there is no need to
constitute committee and formulate policy in accordance with the section 22 of the Sexual
Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
However, during the year no complaints were received by the Internal Complaints committee
for sexual harassment from any of the women employees of the company.
28. SHAREHOLDING PATTERN:
The shareholding pattern as on 31st March, 2023:
|
No. of Shares held at the end of the financial year:
31/03/2022 |
No. of Shares held at the end of the financial year
:31/03/2023 |
|
Category of Shareholder |
Demat |
Physical |
Total Shares |
Total % |
Demat |
Physical |
Total Shares |
Total % |
% Change |
Indian |
|
(A) |
Shareholding of Promoter and Promoter Group |
|
|
1. INDIVIDUAL / HUF |
362427 |
1206000 |
1568427 |
11.15 |
362427 |
1206000 |
1568427 |
11.15 |
|
Total Shareholding |
362427 |
1206000 |
1568427 |
11.15 |
362427 |
1206000 |
1568427 |
11.15 |
|
|
|
|
(B) Public shareholding |
|
|
|
|
2. BODIES CORPORATE |
|
|
|
|
|
|
|
|
|
3. INDIVIDUAL |
|
|
|
|
|
|
|
|
|
4. INDIAN |
3957185 |
24428 |
3981613 |
28.3106 |
2754850 |
24428 |
2779278 |
19.7616 |
8.5490 |
5. (CAPITAL UPTO TO Rs. 1 Lakh) |
923232 |
375197 |
1298429 |
9.2323 |
946611 |
375127 |
1321738 |
9.3980 |
0.1657 |
6. (CAPITAL GREATER THAN Rs. 1 Lakh) |
5888219 |
61670 |
5949889 |
42.3057 |
7082776 |
61670 |
7144446 |
50.7994 |
8.4937 |
7. ANY OTHERS (Specify) |
|
|
|
|
|
|
|
|
|
8. NBFC |
1000 |
|
1000 |
0.0071 |
|
|
|
|
0.0071 |
9. HINDU UNDIVIDED FAMILY |
1232310 |
0 |
1232310 |
8.7621 |
1237730 |
0 |
1237730 |
8.8007 |
0.0386 |
8. CLEARING MEMBER |
26540 |
0 |
26540 |
0.1887 |
7989 |
0 |
7989 |
0.0568 |
0.1319 |
9. NON RESIDENT INDIANS (NRI) |
|
|
|
|
|
|
|
|
|
10. NON RESIDENT INDIANS (REPAT) |
5792 |
|
5792 |
0.04 |
4392 |
|
4392 |
0.0312 |
0.01 |
11. IEPF |
|
|
|
|
|
|
|
|
|
Total Public Shareholding |
12034278 |
461295 |
12495573 |
88.8476 |
12034348 |
461225 |
12495573 |
88.8476 |
|
GRAND TOTAL |
12396705 |
1667344 |
14064049 |
100.00 |
12396775 |
1667274 |
14064049 |
100.00 |
|
* As the data has not been provided by RTA. Hence, we are providing data as available.
29. DETAILS OF SUBSIDIARY JOINT VENTURE AND ASSOCIATES COMPANY
During the year under review there is no Company which have become or ceased to be
Subsidiaries, joint ventures or associate companies.
30.CHANGE IN NATURE OF THE BUSINESS:
There has been no change in the nature of business of the company during the year under
review.
31.MANAGEMENT DISCUSSION AND ANALYSIS:
As per corporate governance norms, a separate section on Management Discussion and
Analysis outlining the business of the Company is set out in Annexure forming part of this
Report.
32.SIGNIFICANT OR MATERIAL ORDERS AGAINST COMPANY:
No significant and material orders were passed by the regulators or courts or tribunals
impacting the going concern status and Companys operation in future.
33. SIGNIFICANT OR MATERIAL EVENT OCCURRED AFTER BALANCE SHEET DATE: No Event has
occurred after the balance sheet dates that representing the material changes and
commitment that affecting the financial position of the company.
34. RISK MANAGEMENT
Your Company has adopted and implemented a Risk Management Policy voluntarily which
includes identification of elements of risk, if any, which in the opinion of the Board may
threaten the existence of the Company.
35. DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to requirement under 134(3)(c) and Section 134 (5) of the Companies Act, 2013
(Act), Directors, confirm that:
(a) In the preparation of the annual accounts for the year ended on 31st
March, 2023, the applicable accounting standards read with requirement set out under
Schedule III to the Act, have been followed and there are no material departures from the
same;
(b) The Directors 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 as at March 31, 2023 and of the profit of
the company for the year ended on that date;
(c) The Directors have taken proper and sufficient care for the maintenance of 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;
(d) The Directors had prepared the annual accounts on a going concern basis;
(e) The Directors, had laid down internal financial controls to be followed by the
company and that such internal financial controls are adequate and are operating
effectively and
(f) The Directors had devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems are adequate and operating effectively.
36. ACKNOWLEDGEMENT:
Your Directors wish to place on record their gratitude and sincere appreciation for the
assistance and cooperation received from the financial institutions, banks, Government
authorities, customers, vendors and members during the year under review.
Your Directors would like to express a profound sense of appreciation for the
commitment shown by the employees in supporting the Company in its continued robust
performance on all fronts.
PLACE: AHMEDABAD |
BY ORDER OF THE BOARD OF DIRECTORS, |
DATE: 12.08.2023 |
FOR, ATLANTA DEVCON LIMITED |
|
SD/ |
SD/ |
|
MR. PRADIP SWAIN |
MR. ASHWIN BAGDAI |
|
DIRECTOR |
MANAGING DIRECTOR |
|
(DIN: 05116867) |
(DIN: 03614681) |
+91-9892691696
