ARI Consolidated Investments Pvt Ltd Directors Report

To.

The Members of

ARI Consolidated Investments Private Limited.

Your directors present their 79th Report with the Audited Accounts of the Company for the year ended March 31, 2022

1. FINANCIAL PERFORMANCE & STATE OF AFFAIRS:

FINANCIAL RESULTS (f )	2021-22 (Rs In 000)	2020-21 (RS in 000)
Turnover	72,628	45.339
Othei Income	243	1,019
Profit before Depreciation	64,503	36.125
Less: Depreciation	3,747	4,075
Profit before Tax	60,756	32,050
Less: Tax expenses	6,612	2.351
Profit / Loss for the year	54,144	29.699
Balance carried to Balance Sheet:
Transfer to general reserve	5.414	2,970
Transfer to reserve fund u/s 45 -iC of RB! Act. 1934	10.829	5.940

2. TRANSFER TO RESERVES:

Your directors have proposed to transfer 5,414 (Rs in "000) to the general reserves of the Company.

3. REVIEW OF OPERATIONS:

The Company registered pre-tax profit of 60,756 (Rs in 000) for the current year. Depreciation charge fortbe current year was at 3747 (Rs in OCO)

During the year under consideration the Company earned gross revenue of 72,871 (Rs in 000). Of this, Rs. 43.939 (Rs in CCOI were derived from the Undertaking carrying on the business of providing facility services from the Companys premises at Mumbai and by way of dividend and interest income from the assets including unquoted shares of its wholly owned subsidiary company, Inarco Prrvate Limited. The remaining income was derived from Capital Gains, dividend from quoted & listed Companies and interest and rent from other assets.

The Companys Accounts under consideration are being presented along with the Consolidated Accounts after receiving the Annual accounts of its wholly owned Subsidiary Company - Inarco Pnvate Limited.

Statement containing salient features of the financial statement of subsidlaries/assoclate compames/joint ventures Annexurc-C.

4. DIVIDEND

The Directors recommend dividend of ^ 40per Equity Share of Rs.100/ each.

5. DETAILS OF BOARD MEETING:

The Company has held the following Board meetings during the year under review. The maximum gap between any two Board Meetings was less than one Hundred and Twenty days

? No	Date of the Board Meeting	Names of directors who attended the meeting
1.	29 07-2021	H F Mehta, Arvind Bhandari, Rajiv Bhandari, Maya Bhandari
* 2.	29-09-2021	H T Mehta, Arvind Bhandari, Rajiv Bhandari, May a Bhandari
3.	24 01-2022	H F Mehta. Arvind Bhandari, Rajiv Bhandari, Maya Bhandari
4.	29 03-2022	H r Mehta. Arvind Bhandari. Rajiv Bhandari

6. AUDITORS:

M/s K. S. Aiyar & Company, Statutory Auditors of the company have resigned on 22"" September,2021. The Board in its meeting held on 24" January.2022 have appointed B.D Jokhakar & Co as the Statutory Auditors of the Company to fill the Casual Vacancy caused due to resignation of Existing Auditor and to conduct audit for the period ended 31/03/2022

The Shareholders in their Extra Ordinary General meeting held on 24" January ,2022 have approved the appointment of 8.D. Jokhakar & Co as statutory Auditors for the year ended on 31" March.2022

7. Details of Directors and Key Managerial Personnel

Ms. Neeta Arvind Bhandari was appointed as an additional Director on the Board of the Company in the Board meeting held on 29^b March,2022

8. Fraud Reporting (Required by Companies Amendment Bill, 2014)

There are no instances of fraud which have been reported to the 8oard

9. Details of Subsidiary, Joint venture, or associate companies

The Company has only one Subsidiary i.e. Inarco Private Limited. Performance of Subsidiary and their contribution to overall performance on company is attached herewith as Annexure C

10. Consolidated Financial statements

The Company have only one subsidiaries The consolidated financial statement for the F. Y. 2021-2022 are attached herewith the Board Report

11. DIRECTORS RESPONSIBILITY STATEMENT

Your Directors confirm that:

(a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(b) the directors had 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 and 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 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 devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

12. RELATED PARTY TRANSACTIONS:

During the financial year 2021-22, the Company has entered into transactions with related parties as defined under Section 2(76) of the Companies Act. 2013 read with Companies (Specification of Definitions Details) Rules, 2014, which were in ordinary course of the business and on arms length basis and in accordance with the provisions of the Companies Act.2013.

The details of the related party Transactions in Form AOC -2 as specified under section 134 (3)(h: of the Companies Act, 2013 arc attached as Annexure A

13. LOANS & DIVESTMENT:

Particulars of loans given by the Company as of 31st March, 2022 are given in the Notes Forming part of the Financial Statements.

14. EXTRACT OF ANNUAL RETURN

The Extracts of Annual return in Form MG T9 as specified in terms of section 92 (3) of the Companies Act, 2016 is attached as Annexure B.

15. DETAILS ON RISK MANAGEMENT POLICY & INTERNAL FINANCIAL CONTROLS:

The Company has adopted adequate measures to ensure internal checks and controls and there is a separate team to monitor the accounting data and information.

16. SIGNIFICANT /MATERIAL ORDERS PASSED BY THE REGULATORS:

There are no Significant/material orderspassed by RegulatorsorCourtsorTribunalsimpacting the going concern status of the Company and its operations infuture.

For and on behalf of Board of Dire/tors

Date: 0 5 SEP 2022 Place: Mumbai

H. F. Mehta Chairman OW. OCA0S52-4