Dear Members,
Your Directors have pleasure in presenting the 7th Annual Report of the AA
PLUS TRADELINK LIMITED along with the Audited Financial Statements for the financial year
ended 31st March, 2023.
1. DISCLOSURE OF ANNUAL RETURN UNDER SECTION 134r3Hal
The extract of Annual Return, pursuant to the provisions of Section 92(3) of the
Companies Act, 2013 and Rule 12 of the Companies (Management and administration) Rules,
2014, for the financial year ended 31st March, 2023, is disclosed on the
website of the company.
2. MEETINGS OF BOARD OF DIRECTORS UNDER SECTION 1341311b!
During the year 2022-23, the Board of Directors met 5 times.”
24.05.2022, 30.05.2022, 18.08.2022, 14.11.2022,16.02.2023.
3. DIRECTORS RESPONSIBILITY STATEMENT UNDER SECTION 134(3IIc)
Pursuant to Section 134[3][c] read with Section 134(5) of the Companies Act, 2013, the
Board of Directors, to the best of their knowledge and ability, confirm that:
a. in the preparation of the annual accounts, the applicable accounting standards have
been followed and in case of any material departures, proper explanations have been given
for the same in the accounts itself;
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 at the end of the financial year and of
the profit/loss of the Company for that period;
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 have prepared the annual accounts on a going concern basis;
e. the directors have devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems were adequate operating effectively;
f. Being an unlisted company, the directors were not required to lay down internal
financial controls under Section 134[5][e] of the Companies Act, 2013.
4. DETAILS UNDER SECTION 134r311CAl OF THE COMPANIES ACT. 2013 IN RESPECT OF FRAUDS
REPORTED BY AUDITORS UNDER SUB-SECTION (12) OF SECTION 143 OTHER THAN THOSE WHICH
ARE REPORTABLE TO THE CENTRAL GOVERNMENT
No frauds were reported by the Companys Statutory / Cost / Internal / Secretarial
Auditors during the year under review.
5. DECLARATION BY INDEPENDENT DIRECTORS UNDER SECTION 134131 Idl
All Independent Directors have submitted their disclosures to the Board that they
fulfill all the requirements as stipulated in Section 149(6) of the Companies Act, 2013
read with SEBI Listing Regulations so as to qualify themselves to be appointed as
Independent Directors under the provisions of the Companies Act, 2013 and SEBI Listing
Regulations.
6. COMPOSITION OF AUDIT COMMITTEE UNDER SECTION 177(21
The Board had constituted an Audit Committee comprising of Mrs. Nilam Himanshu kumar
Soni, Independent Director as the Chairman; Mr. Jay Vijaykumar Mehra, Independent Director
and Mr. Rajkumar Mahendra Singh as the self-evaluation framework.
7. DISCLOSURES PERTAINING TO THE AUDITORS AND THE AUDIT REPORT UNDER SECTION 134131111
A. Observations of Statutory Auditors i.e. M/s Jain Anil & Associates, Chartered
Accounts, on Financial Statement for the financial year ended 31st March, 2023
The observation made by the Statutory Auditors in their report for the financial year
ended 31st March, 2023 read with the explanatory notes therein are
self-explanatory, and therefore do not call for any further explanation or comments.
B. Observations of Secretarial Auditors i.e. M/s H Choudhary & Associates, Company
Secretary, on Corporate compliance for year ended 31st March, 2023
The Report of the Secretarial Auditor is enclosed herewith as Annexure - in to
this Report. The Secretarial Audit Report does not contain any qualification, reservation
or adverse remark hence does not require any clarification or explanation of the Board.
8. PARTICULARS OF LOANS. GUARANTEES AND INVESTMENTS UNDER SECTION 186 UNDER SECTION
134131 fel
During the year under review, the Company has not given any loans or guarantees or made
investments under Section 186 of the Companies Act, 2013.
9. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES UNDER SECTION
134r3Uhl READ WITH RULE HI21 OF THE COMPANIES [ACCOUNTSl RULES. 2014
No contracts / arrangements were entered into with related parties as envisaged under
Section 188[1] of the Companies Act, 2013.
10. STATE OF COMPANYS AFFAIRS UNDER SECTION 134[3][i] AND FINANCIAL SUMMARY UNDER RULE
8[5][i] OF THE COMPANIES [ACCOUNTS] RULES. 2014
During the year under review, the Company has achieved a turnover of Rs.
17,17,29,552/—. The net Profit after tax during the year has been Rs.20,53,789/-as
against the net profit of Rs. 18,58,147/-in the previous year.
11. DISCLOSURES RELATED TO TRANSFER TO RESERVES UNDER SECTION i34r3im
During the financial year under review, Rs. .20,53,789/- transferred to the general
reserves.
12. DISCLOSURES RELATED TO DIVIDEND UNDER SECTION 134[3][k]
With a view to conserve resources, the Board of Directors does not recommend any
dividend for the financial year ended 31st March, 2023.
13. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY
BETWEEN THE END OF THE FINANCIAL YEAR AND THE DATE OF THTS REPORT UNDER SECTION 134[3][1]
There were no material changes and commitments affecting the financial position of the
company between the end of the financial year and the date of this report.
14. DETAILS OF CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE EARNINGS
AND OUTGO AS REOUIRD UNDER SECTION 134[3][m] READ WITH RULE 8[3] OF THE COMPANIES [ RULES.
2014
The particulars as required under the provisions of Section 134(3) (m) of the Companies
Act, 2013 read with the Rule 8 of the Companies (Account) Rules, 2014 in respect of
Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo etc are
furnished below:
(A) Conservation of energy:
Steps taken or impact on conservation of energy |
NIL |
Steps taken by the Company for utilizing alternate sources of energy |
NIL |
Capital Investment in energy conservation equipments |
NIL |
(B) Technology Absorption:
| Efforts made towards technology absorption |
NIL |
| Benefits derived like product improvement, cost reduction, product
development or import substitution |
|
| In case of imported technology (imported during the last three years
reckoned from the beginning of the financial year): |
|
| Details of technology imported |
NIL |
| Year of import |
NA |
| Whether technology has been fully absorbed |
|
| If not fully absorbed, areas where absorption has not taken place, and
the reasons thereof |
|
| Expenditure incurred in Research and Development |
NIL |
(C) Foreign Exchange Earnings and Outgo:
During the year under review, the Company has neither earned nor used any foreign
exchange.
15. DISCLOSURE FOR DEVELOPMENT AND IMPLEMENTATION OF THE RISK MANAGEMENT POLICY UNDER
SECTION 134[3][n]
Risks are events, situations or circumstances which may lead to negative consequences
on the Companys business. Risk management is a structural approach to manage uncertainty.
A formal approach to Risk Management is being adopted by the Company and key risk will now
be managed within unitary framework. The Risk Management process in our business,
operations, over the period of time will become embedded into the Companys business
systems processes, such that our responses to risks remain current and dynamic.
16. DISCLOSURES RELATING TO CORPORATE SOCIAL RESPONSIBILTY UNDER SECTION 134[3][0]
The provisions of Section 135 of the Companies Act, 2013 are not applicable to the
Company for the year under review.
17. A REPORT ON THE HIGHLIGHTS OF PERFORMANCE OF SUBSIDIARIES. ASSOCIATES AND JOINT
VENTURE COMPANIES AND THEIR CONTRIBUTION TO THE OVERALL PERFORMANCE OF THE COMPANY DURING
THE PERIOD UNDER REVIEW UNDER SECTION 134[3][q] OF THE COMPANIES ACT. 2013 READ WITH RULE
801 OF THE COMPANIES RULES. 2014
The Company does not have any Subsidiaries, Associates and Joint Venture Companies.
18. CHANGE IN NATURE OF BUSINESS DURING THE YEAR UNDER SECTION 134[3] [q] READ WITH
RULE 8[5][iii] OF THE COMPANIES accounts RULES. 2014
There has been no change in the nature of the business of the Company during the year
under the review.
19. MATTERS RELATED TO DIRECTORS AND KEY MANAGERIAL PERSONNEL UNDER SECTION 134[3Hal
READ WITH RULE 8[5][iii] OF THE COMPANIES [ACCOUNTS] RULES. 2014
Ms. Purnima Badola was appointed as the Company Secretary of the Company on 7th February,
2022.
20. DISCLOSURES ON DEPOSITS UNDER SECTION 134[3] [a] OF THE COMPANIES ACT. 2013 READ
WITH RULE 8[5][v] OF THE COMPANIES [ACCOUNTS! RULE. 2014
The Company did not accept or renew any deposits under section 73 of The Companies Act,
2013
21. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
TRIBUNALS UNDER SECTION 134[34][3] OF THE COMPANIES ACT. 2013 READ WITH RULE
8r[5][vii][vii] OF THE COMPANIES ACCOUNTS RULE. 2014
No orders have been passed by any Regulator or Court or Tribunal which can have impact
on the going concern status and the Companys operations in future.
22. INTERNAL FINANCIAL CONTROL SYSTEM UNDER SECTION 134[3Ual OF THE COMPANIES ACT. 2013
READ WITH RULE 8r5irviiil OF THE COMPANIES rACCOUNTSl RULE. 2014. READ WITH SECTION 148111
OF THE COMPANIES ACT. 2013
The Company has in place adequate systems of internal financial control commensurate
with its size and nature of operations. The system of internal controls ensures that all
activities are monitored and controlled against any unauthorized use or disposition of
assets and that the transactions are authorized and reported correctly.
23. A DISCLOSURE. ON COST RECORD SUNDER SECTION 134r3Hal OF THE COMPANIES ACT. 2013
READ WITH RULE 8r5Hixl OF THE COMPANIES accounts RULE. 2014. READ WITH SECTION 148H1 OF
THE COMPANIES ACT. 2013
The company was not required to maintain cost records under section 148[1] of the
Companies Act, 2013.
24. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PROHIBITION.
PREVENTION AND REDRESSAL) ACT. 2013
As the number of employees are less than 10, there is no need for the company to form a
Sexual Harassment Committee under POSH Act.
25. DISCLOSURE OF PROVIDING VIGIL MECHANISM
The provisions of Section 177[9] and proviso to Section 177[10] of the Companies Act,
2013 read with Rule 7 of the Companies (Meetings of the Board and its Powers) Rules, 2013
is applicable to the Company. The Company has established a vigil mechanism and to that
effect formulated the Whistle Blower Policy to deal with instances of fraud and
mismanagement, if any.
26. PARTICULARS OF EMPLOYEES
There were no employees of the Company during the financial year ended 31st
March 2023, and therefore the Company need not disclose the details required to be
mentioned under Section 197 of the Act read with rule 5(2) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014.
27. DISCLOSURE UNDER SECTION 197(12) OF THE COMPANIES ACT. 2013 AND OTHER DISCLOSURES
AS PER RULE 5 OF COMPANIES (APPOINTMENT & REMUNERATION) RULES. 2014
The Company got listed on 22nd July. 2021 on SME Platform of Bombay Stock
Exchange (BSE). The Company confirms that it has paid the Annual Listing Fees for the year
2022-23 to Bombay Stock Exchange (BSE) where the Companys Shares are listed.
The Company is in the process of migration to main board from SME Board.
Thus, the remuneration paid to the directors is Rs NIL.
28. SECRETARIAL STANDARDS:
During the year under review, the Company has complied with the applicable Secretarial
Standards.
29. ACKNOWLEDGEMENTS
Your Directors would like to express their grateful appreciation for the assistance and
support extended by all the stakeholders.
FOR AA PLUS TRADELINK LIMITED
RAJ KUMAR SINGH |
ASHOK SHAH |
DIN: 08670982 |
DIN: 07427185 |
DIRECTOR |
DIRECTOR |
DATE: 09.09.2023 |
|
PLACE: Mumbai |
|
+91-9892691696
