Ashoka Refineries Ltd Management Discussions.

ANNEXURE-3

MANAGEMENT DISCUSSION AND ANALYSIS

FORWARD- LOOKING STATEMENT

This report contains forward-looking statements based on certain assumptions and expectations of future events. The Company, therefore, cannot guarantee that these assumptions and expectations are accurate or will be realized. The Company’s actual results, performance or achievements can thus differ materially from those projected in any such forward-looking statements. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent developments, information or events.

SERVICES

Company is engaged in Cargo handling services. Due to removal of restriction on import, this is excellent field to provide services to the importers. The size of the Company needs to be expanded to enter this industry on a large scale for which Directors are concentrating their attention.

BUSINESS OVERVIEW

During the year under review, the Company could not operate due to non-renewal of business. The total turnover and other income of the Company was Rs. 1.75 lacs as against Rs.565.00 during the previous financial year. The Company recorded a net loss of Rs.8.71 lacs during the year under review.

Your Directors deeply regret for the poor performance of the company due to reasons beyond their control. The economic condition continues to be bad and the Company is planning for a take-off in the next year.

MARKETING

The Company is making all efforts to revamp its marketing in new areas.

SWOT

Our strength is our determination, weakness is the low equity base, opportunities are multiples and threats are practically none.

The financial highlights are as under:-

Fig. in lacs

Turnover for the year 2016-17 0.00
Provision for taxation 0.00
Profit/Loss after tax (8.71)
Paid-up Equity Share Capital as on 31st March’2017 340.19

INTERNAL CONTROL

The Company has an internal control system, commensurate with the size of its operations, adequate records and documents were maintained as required by laws. The Company’s audit Committee reviewed the internal control system. All efforts are being made to make the internal control system more effective.

SEGMENT WISE REPORTING

During the year under review, Company has commenced no activity.

RISK AND CONCERNS

In any business, risks and prospects are inseparable. As a responsible management, the Company’s principal endeavor is to maximize returns. The Company continues to take all steps necessary to minimize losses through detailed studies and interaction with experts.

(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 arm’s length transactions under third proviso thereto.

1. Details of contracts or arrangements or transactions not at arm’s length basis:

Sr. No Particulars Details
(a) Name(s) of the related party and nature of relationship Nil
(b) Nature of contracts/arrangements/transactions Nil
(c) Duration of the contracts / arrangements/transactions Nil
(d) Salient terms of the contracts or arrangements or transactions including the value, if any Nil
(e) Justification for entering into such contracts or arrangements or transactions Nil
(f) date(s) of approval by the Board Nil
(g) Amount paid as advances, if any: Nil
(h) Date on which the special resolution was passed in general meeting as required under first proviso to section 188 Nil

2. Details of material contracts or arrangement or transactions at arm’s length basis

Name of the Related Party Nature of relationship Duration of Contract Salient Terms of the Amount Contract
NIL

 

SD/-
DATED: 30.06.2017 (Shabir Memon)
PLACE: RAIPUR (C. G.) Managing Director
DIN 02023147

ANNEXURE 5

ASHOKA REFINERIES LIMITED

ANNEXURE TO DIRECTORS REPORT EXTRACT OF ANNUAL RETURN (Form No. MGT-9) as on the financial year ended on 31.03.2017 [Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014]

I. REGISTRATION AND OTHER DETAILS:

i) CIN:- L15143CT1991PLC006678
ii) Registration Date 01/10/1991
iii) Name of the Company ASHOKA REFINERIES LIMITED
iv) Category / Sub-Category of the Company CompanyLimited By Shares
INDIAN NON-GOVERNMENT COMPANY
v) Address of the Registered office and contact details SHYAM COMPLEX RAM SAGAR PURA RAIPUR,
CHHATTISGARH-492001Telephone No. 0771- 4036578
Email Address: arlraipur@yahoo.com
vi) Whether listed company Yes / No YES
vii) Name, Address and Contact details of Registrar and Transfer Agent, if any BEETAL Finance & Computer Services (P) Limited
BEETAL HOUSE, 3rd Floor, 99 Madangir, Behind LSC,
Near Dada Harsukhdas Mandir, Delhi – 110062
Telephone :011- 29961281
Email Address : beetalrta@gmail.Com

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

All the business activities contributing 10 % or more of the total turnover of the company shall be stated:-

SR. NO. Name and Description of main products / services NIC Code of the Product/ service % to total turnover of the company

NO INCOME DURING THE YEAR

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES -

Sl. No. NAME AND ADDRESS OF THE COMPANY CIN/GLN HOLDING/ SUBSIDIARY/ ASSOCIATE % of shares held Applicable Section
NIL

4. SHARE HOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL EQUITY) i) CATEGORY WISE SHAREHOLDING

CATEGORY OF SHAREHOLDERS

NO. OF SHARES AT THE BEGINNING OF THE YEAR

NO. OF SHARES AT THE END OF THE YEAR

%
DEMAT PHYSICAL TOTAL % OF TOTAL SHARES DEMAT PHYSICAL TOTAL % OF TOTAL SHARES CHANGE DURING THE YEAR
A. Promotors
(1) Indian
(a) Individual/ HUF 973800 181100 1154900 33.95% 973800 181100 1154900 33.95% 0.00%
(b) Central Govt 0 0 0 0.00% 0 0 0 0.00% 0.00%
(c) State Govt. 0 0 0 0.00% 0 0 0 0.00% 0.00%
(d) Body Corporate 0 0 0 0.00% 0 0 0 0.00% 0.00%
(e) Banks/ FI 0 0 0 0.00% 0 0 0 0.00% 0.00%
(f) Any other 0 0 0 0.00% 0 0 0 0.00% 0.00%
Subtotal (A) (1) :-

973800

181100

1154900

33.95%

973800

181100

1154900

33.95%

0.00%

(2) Foreign
(a) NRI Individual 0 0 0 0.00% 0 0 0 0.00% 0.00%
(b) Other Individual 0 0 0 0.00% 0 0 0 0.00% 0.00%
(c) Body Corporate 0 0 0 0.00% 0 0 0 0.00% 0.00%
(d) Banks/ FI 0 0 0 0.00% 0 0 0 0.00% 0.00%
(e) Any other 0 0 0 0.00% 0 0 0 0.00% 0.00%
Subtotal (A) (2) :- 0 0 0 0.00% 0 0 0 0.00% 0.00%
Total Shareholding of 973800 181100 1154900 33.95% 973800 181100 1154900 33.95% 0.00%
Promotors (A) =
(A)(1)+(A)(2)
B. Public Shareholding
(1) Institutions
(a) Mutual Fund 0 0 0 0.00% 0 0 0 0.00% 0.00%
(b) Banks/ FI 0 10000 10000 0.29% 0 10000 10000 0.29% 0.00%
(c) Central Govt 0 0 0 0.00% 0 0 0 0.00% 0.00%
(d) State Govt (s) 0 0 0 0.00% 0 0 0 0.00% 0.00%
(e) Venture Capital Fund 0 0 0 0.00% 0 0 0 0.00% 0.00%
(f)Insurance Companies 0 0 0 0.00% 0 0 0 0.00% 0.00%
(g) FII 0 0 0 0.00% 0 0 0 0.00% 0.00%
(h) Foreign Venture Capital 0 0 0 0.00% 0 0 0 0.00% 0.00%
(i) Funds other (Specify) 0 0 0 0.00% 0 0 0 0.00% 0.00%
Subtotal (B) (1) :-

0

10000

10000

0.29%

0

10000

10000

0.29%

0.00%

(2)Non-Institutions
(a) Body Corporate
i) Indian 14400 7500 21900 0.64% 14700 7500 22200 0.65% 0.01%
ii) Overseas 0 0 0 0% 0 0 0 0% 0.00%
(b) Individuals
i) holding nominal shares capital upto 1 lakh 21800 320100 341900 10.05% 126700 1708500 1835200 53.95% 43.90%
ii) holding nominal shares capital in excess of 1 lakh 104500 1742700 1847200 54.30% 10200 332300 342500 10.07% -44.23%
(c) Others
(i) NRI - REPARTIABLE 0 26000 26000 0.76% 0 26000 26000 0.76% 0.00%
(ii) Clearing Member 0 0 0 0.00% 11100 0 11100 0.33% 0.33%
Subtotal (B) (2) 140700 2070300 2237000 65.76% 162700 2074300 2237000 65.76% -0.33%
Total Public Shareholding (B) 140700 2080300 2247000 66.05% 162700 2084300 2247000 66.05% -0.33%
= (B)(1)+(B)(2)
C. Shares held by Costodian for GDRs & ADRs 0 0 0 0.00% 0 0 0 0.00% 0.00%
Grand Total (A+B+C) 111450 2261400 3401900 100.00% 1136500 2265400 3401900 100.00% -0.33%

II. SHAREHOLDING OF PROMOTERS

SR. NO SHAREHOLDER’S NAME SHAREHOLDING AT THE BEGINNING OF THE YEAR SHAREHOLDING AT THE END OF THE YEAR % CHANGE
NO. OF SHARES % OF TOTAL SHARES OF THE COMPANY %OF SHARE S PLEDG ED / ENCU MBER ED TO TOTAL SHARE NO. OF SHARES % OF TOTAL SHARES OF THE COMPANY %OF SHARES PLEDGED / ENCUMBER ED TO TOTAL SHARES IN SHARE HOLDING DURING THE YEAR
1 SRI MAHESH KODWANI 30000 0.88 0 30000 0.88 0 0.00
2 MAHESH KODWANI(H.U.F.) 31300 0.92 0 31300 0.92 0 0.00
3 SHRI BHARTI DEVI 30500 0.90 0 30500 0.90 0 0.00
KODWANI
4 SUDHIR SINGH MOURYA 30700 0.90 0 30700 0.90 0 0.00
5 RAVI VASWANI 30000 0.88 0 30000 0.88 0 0.00
6 PRAMOD VASWANI 28600 0.84 0 28600 0.84 0 0.00
7 ALOK CHOUDHARI 29300 0.86 0 29300 0.86 0 0.00
8 NILESH N BUDHBHATTI 30000 0.88 0 30000 0.88 0 0.00
9 AVDHESH KUMAR JAIN 32900 0.97 0 32900 0.97 0 0.00
10 AJAY CHOUDHARY 33000 0.97 0 33000 0.97 0 0.00
11 ALOK AWADHIYA 31400 0.92 0 31400 0.92 0 0.00
12 HIMMAT LAL SAHU 29200 0.86 0 29200 0.86 0 0.00
13 SATYAPRAKASH AGRAWAL 30800 0.91 0 30800 0.91 0 0.00
14 UMESH KUMAR SAHU 32800 0.96 0 32800 0.96 0 0.00
15 MANSOOR AHMED 7500 0.22 0 7500 0.22 0 0.00
16 KISHORE ATLANI 109500 3.22 0 109500 3.22 0 0.00
17 RAJESH ATLANI 110000 3.23 0 110000 3.23 0 0.00
18 SANA RAJESH ATLANI 124900 3.67 0 124900 3.67 0 0.00
19 ARUN KUMAR TAMRAKAR 32000 0.94 0 32000 0.94 0 0.00
20 YEWAN KUMAR SAHU 10000 0.29 0 10000 0.29 0 0.00
21 GANESH KUMAR YADAV 2900 0.09 0 2900 0.09 0 0.00
22 GOKUL PRASAD SHARMA 30600 0.90 0 30600 0.90 0 0.00
23 SURENDRA SINGH SANDHU 30000 0.88 0 30000 0.88 0 0.00
24 VISHWAJEET SINGH 32000 0.94 0 32000 0.94 0 0.00
THAKUR
25 HIMMATLAL SAHU & SONS 30000 0.88 0 30000 0.88 0 0.00
26 REETA ATLANI 141000 4.14 0 141000 4.14 0 0.00
27 SHABIR MEMON 8000 0.24 0 8000 0.24 0 0.00
28 SUDHIR DIXIT 25000 0.73 0 25000 0.73 0 0.00
29 K S N MURTHY 31000 0.91 0 31000 0.91 0 0.00
TOTAL PROMOTER SHAREHOLDING 1,154,900 33.95 0 1,154,900 33.95 0 0.00
TOTAL SHARE CAPITAL 3401900 100.00% 0 3401900 100.00% 0 0.00

III. CHANGE IN PROMOTERS’ SHAREHOLDING (PLEASE SPECIFY, IF THERE IS NO CHANGE)

PARTICULARS SHAREHOLDING AT THE BEGINNING OF THE YEAR CUMULATIVE SHAREHOLDING DURING THE YEAR
NO. OF SHARES % OF TOTAL SHARES OF THE COMPANY NO. OF SHARES % OF TOTAL SHARES OF THE COMPANY
AT THE BEGINNING OF THE YEAR 1154900 33.95% 1154900 33.95%
Date wise Increase / Decrease in Promoters Share holding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc): 0 0.00% 0 0.00%
AT THE END OF THE YEAR 1154900 33.95% 1154900 33.95%

IV. SHAREHOLDING PATTERN OF TOP TEN SHAREHOLDERS (OTHER THAN DIRECTORS, PROMOTERS AND HOLDER OF GDRS & ADRS):

PARTICULARS SHAREHOLDING AT THE BEGINNING OF THE YEAR CUMULATIVE SHAREHOLDING DURING THE YEAR
NO. OF SHARES % OF TOTAL SHARES OF THE COMPANY NO. OF SHARES % OF TOTAL SHARES OF THE COMPANY
AT THE BEGINNING OF THE YEAR
SURYAKANT TAMRAKAR 33500 0.98 33500 0.98
SRI VIKRAM SINGH TAMRAKAR 33400 0.98 33400 0.98
RAMESH SINGH THAKUR 32800 0.96 32800 0.96
HARISH CHANDRA VERMA 31000 0.91 31000 0.91
SANJAY TAMRAKAR 30600 0.90 30600 0.90
AJAY TAMRAKAR 29500 0.87 29500 0.87
SHAIK MOHAMMED HUSSAIN 26000 0.76 26000 0.76
SHAIK JAHANGIR 17000 0.50 17000 0.50
SHRUTI D. KARIKAR 16900 0.50 16900 0.50
SANJAY LUNAWAT 16100 0.47 16100 0.47
266800 7.84 266800 7.84
AT THE END OF THE YEAR
SURYAKANT TAMRAKAR 33500 0.98 33500 0.98
SRI VIKRAM SINGH TAMRAKAR 33400 0.98 33400 0.98
RAMESH SINGH THAKUR 32800 0.96 32800 0.96
HARISH CHANDRA VERMA 31000 0.91 31000 0.91
SANJAY TAMRAKAR 30600 0.90 30600 0.90
AJAY TAMRAKAR 29500 0.87 29500 0.87
SHAIK MOHAMMED HUSSAIN 26000 0.76 26000 0.76
SHAIK JAHANGIR 17000 0.50 17000 0.50
SHRUTI D. KARIKAR 16900 0.50 16900 0.50
SANJAY LUNAWAT 16100 0.47 16100 0.47
266800 7.84 266800 7.84

V. SHAREHOLDING PATTERN OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

PARTICULARS SHAREHOLDING AT THE BEGINNING OF THE YEAR SHAREHOLDING AT THE END OF THE YEAR
NO. OF SHARES % OF TOTAL NO. OF SHARES % OF TOTAL SHARES OF
SHARES OF THE COMPANY THE COMPANY
Shabir Memon 8000 0.24% 8000 0.24%
Sudhir Dixit 25000 0.73% 25000 0.73%
NO CHANGE IN THE ABOVE SHAREHOLDING DURING THE FINANCIAL YEAR
V. INDEBTEDNESS
INDEBTEDNESS OF THE COMPANY INCLUDING INTEREST OUTSTANDING/ACCRUED BUT NOT DUE FOR PAYMENT
PARTICULARS Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount 0 15,00,000.00 0 15,00,000.00
ii) Interest due but not paid 0 0 0 0
iii) Interest accrued but not 0 0 0 0
Total(i+ii+iii) 0 15,00,000.00 0 15,00,000.00
Change in Indebtedness during the financial year
- Addition 0 0 0 0
- Reduction 0 0 0 0
Net Change 0 0 0 0
Indebtedness at the end of the
financial year
i) Principal Amount 0 15,00,000.00 0 15,00,000.00
ii) Interest accrued but not due 0 0 0 0
iiI) Interest due but not paid 0 0 0 0
Total (i+ii+iii) 0 15,00,000.00 0 15,00,000.00

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. REMUNERATION TO MANAGING DIRECTOR, WHOLE-TIME DIRECTORS AND/OR MANAGER:

NO REMUNERATION HAS BEEN PAID

B. REMUNERATION TO OTHER DIRECTORS:

NO REMUNERATION HAS BEEN PAID

C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD:

Sr. no. Particulars of Remuneration Key Managerial Personnel
CEO Company Secretary CFO Total
1 Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act,1961 0 164,000 0 164000
(b)Value of perquisite/s 17(2)Income-tax Act,1961 0 0 0 0
(c)Profits in lieu of salary under section 17(3) Income-tax Act,1961 0 0 0 0
2 Stock Option 0 0 0 0
3 Sweat Equity 0 0 0 0
4 Commission - as % of profit -others, specify… 0 0 0 0
5 Others, please specify 0 0 0 0
6 TOTAL 0 1,64,000.00 0 1,64,000.00

 

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES

DURING THE YEAR, THERE WERE NO PENALTIES/ PUNISHMENT/ COMPOUNDING OF OFFENCE UNDER COMPANIES ACT, 2013

DATE: 30.06.2017 (Shabir Memon)
PLACE: RAIPUR Managing Director