To,
The Members,
ATLANTA INFRASTRUCTURE & FINANCE LIMITED
Your Directors have pleasure in presenting their 29th Annual Report on the business and
operations of the Company and the accounts for the Financial Year ended March 31, 2022.
1. STATE OF COMPANY AFFAIRS:
The main business activity of the company is Infrastructure and Development of land.
However, the company has not carried out business activities during the financial year
2021-22.
• SEGMENT-WISE POSITION OF BUSINESS AND ITS OPERATIONS: The company has not
carried out business activities during the financial year 2021-22. Accordingly there is 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 2021-22.
• 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 2021-22 which impact on the
affairs of the Company.
2. FINANCIAL SUMMARY OF THE COMPANY (Standalone)
The Boards Report is to be prepared based on the standalone financial statements of
the company.
|
|
(Rs. in lacs) |
| PARTICULARS |
2021-22 |
2020-21 |
| Revenue from Operations |
0 |
0 |
| Other income |
0 |
0 |
| Total Income |
0 |
0 |
| Profit/loss before Depreciation, Finance Costs, Exceptional items and Tax Expense |
-3.008 |
-2.904 |
| Less: Depreciation |
0 |
0 |
| Profit/loss before Finance Costs, Exceptional items and Tax Expense |
-3.008 |
-2.904 |
| Less: Finance Cost |
0 |
0 |
| Profit/loss before Exceptional items and Tax Expense |
-3.008 |
-2.904 |
| Less: Exceptional Items |
0 |
0 |
| Profit / (Loss) Before Tax |
-3.008 |
-2.904 |
| Provision for Tax & Deferred Tax |
0 |
0 |
| Profit / (Loss) After Tax |
-3.008 |
-2.904 |
| Other Comprehensive income (net of tax effect) |
0 |
0 |
| Total Comprehensive income |
-3008 |
-2.904 |
| Add : Balance as per last Financial Statement |
128.827 |
131.73 |
| Disposable Surplus |
0 |
0 |
| Less : Transfer to General Reserve |
0 |
0 |
| Dividend Paid (2018-19) |
0 |
0 |
| Dividend Paid (2017-18) |
0 |
0 |
| Dividend Distribution Tax (2018-19) |
0 |
0 |
| Dividend Distribution Tax (2017-18) |
0 |
0 |
| Balance carried forward |
125.820 |
128.827 |
3. PERFORMANCE OF THE COMPANY:
The Company has not carried any commercial activities during the financial year 202122.
However, the Company has incurred some unavoidable fixed expenditure like employee benefit
expenses and miscellaneous expenses during the financial year 2021-
22. 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.
4. DIVIDEND:
Due to loss making situation of the Company, the directors did not recommend any
Dividend for the Year under review.
5. THE AMOUNTS. IF ANY. WHICH IT PROPOSES TO CARRY TO ANY RESERVES:
The company has not transferred any amount to reserves during the financial year
2021-22.
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 2021-22 under review is as follows:
| NAME OF DIRECTOR |
DESIGNATION |
| MR. SURESH MAVANI |
INDEPENDENT DIRECTOR |
| MRS. BHAVNA ASHAR (*) |
NON-EXECUTIVE WOMAN DIRECTOR |
| MR. MANISH ASHAR |
INDEPENDENT DIRECTOR |
The Board of Directors of your Company are fully committed to steering the organization
for long-term 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, MRS. BHAVNA ASHAR
(DIN: 02258407), Woman 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 non-executive 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
sub-section 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 four (5) Board Meetings and four (4) Audit Committee Meetings were
convened and held. The dates on which the said Board meetings were held are shown in the
table:
| SR. NO. BOARD MEETING |
AUDIT COMMITTEE MEETING |
SRC |
NRC |
| 1 11.06.2021 |
11.06.2021 |
30.06.2021 |
11-06.2021 |
| 2 14.08.2021 |
14.08.2021 |
30.09.2021 |
13.11.2021 |
| 3 08.09.2021 |
13.11.2021 |
31.12.2021 |
- |
| 4 13.11.2021 |
12.02.2022 |
31.03.2021 |
- |
| 5 12.02.2022 |
- |
- |
- |
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, 2022 is available on the Companys
website and can be accessed at (https://kadvanigroup.com/).
10. STATUTORY AUDITORS:
The board of Directors of the Company has proposed to appoint M/S. V B L &
ASSOCIATES, Chartered Accountants, (F.R.NO. 148158W), as a statutory auditor of the
Company to hold office for the term of five consecutive financial years and till the
conclusion of Annual General Meeting for the financial year 2024-25 subject to the
approval of shareholders at the forthcoming AGM.
Auditors comments on your companys accounts for year ended March 31, 2022 are
self-explanatory in nature and do not require any explanation as per provisions of Section
134 (3) (f) of the Companies Act, 2013.
There were following qualifications, reservation or adverse remark or disclaimer made
by Statutory Auditor in its report:
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 undertakes to take corrective steps for the above mentioned qualification in
current financial year.
11. DISCLOSURE OF REPORTING OF FRAUD BY AUDITORS UNDER SECTION 143(12):
During the financial year 2021-22, 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 Section-148 (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 2021-22.
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 FY 2021-22. The Report of the
Secretarial Auditor for the F.Y. 2021-22 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:
| Sr. No. Deviations |
Justification by Board |
| 1 Regulation 6 (2) of The Securities and Exchange Board of India (Listing Obligation
and Disclosure Requirement) Regulation, 2015 - Not appointed Company Secretary as a
Compliance Officer of the Company |
The Company is yet to comply with the regulation of appointment of Company Secretary
as a compliance officer of the company. The company will comply with the same in the
current financial year. |
| 2 Company is yet to comply with the section 138 of the Companies Act, 2013 i.e.
Internal Auditor needs to be appointed to conduct the internal audit of the functions and
activities of the company. |
The Company will appoint Internal Auditor in the Current financial year. |
| 3 Non-compliance with respect to Composition of Board of Director, Audit Committee,
Nomination and Remuneration committee and Stakeholder Relationship committee. |
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 on the Board of the Company. The Company is
in process to appoint new directors on the Board of the Company. |
| 4 Company is not in compliance with the Section 108 of the Companies Act, 2013
Regulation 44 of The Securities and Exchange Board of India (Listing Obligation and
Disclosure Requirement) Regulation, 2015 for not providing E-voting facilities to all the
member of the company. |
The Company assures to provide e voting facility to the shareholders from the current
financial year. |
| 5 The Company has not complied with Section 136 and Section 101 of the Companies Act,
Regulation 36 of The |
The Company will comply with the requirement of Dispatch of Annual Report from current
financial year and |
| Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement)
Regulation, 2015 regarding sending the annual report of 2020-21 to every member of the
Company. |
will provide supporting proof for the same. |
| 6 Company has not provided Newspaper advertisement of book closure, E voting and AGM
notice pursuant to section 91 of Companies Act, 2013. |
The Company assures to comply with Regulation 47 of SEBI (LODR) Regulations, 2015 in
the current financial year and will provide newspaper advertisement as per the requirement
of the Act. |
| 7 The company had not submitted Regulation - 7(3) Compliance Certificate certifying
maintaining physical & electronic transfer facility and Regulation 40(9) of SEBI(LODR)
Regulations, 2015 to BSE for the quarter ended of March, 2022. |
The company had not submitted Regulation -7(3) Compliance Certificate certifying
maintaining physical & electronic transfer facility to BSE due to non-receipt of data
from RTA. |
| 8 The company has made delay in submission Regulation - 13(3) to BSE for statement of
Investor Complaints for June 2021 and not submitted Regulation - 13(3) to BSE for
September 2021, December 2021 and March 2022. |
The company had not submitted Regulation - 13(3) to BSE due to non-receipt of data
from RTA. |
| 9 The Company has not paid Annual Listing Fees to the stock Exchange with in
prescribed time. |
The Company will pay all the outstanding fees with in due course. |
| 10 The Company had not submitted of Regulation- 31 Shareholding Pattern of Securities
and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation,
2015 on BSE for all the quarter of F.Y. 2021-22. |
The company assures to comply with the same with in prescribed time in future. |
| 11 The company has made delay in submission of financial results in XBRL for the
quarter ended on September 2021 and December 2021. |
The company has submitted financial results in XBRL for the quarter ended on September
2021 and December 2021 after the due date of submission of financial results. |
| 12 The Company is yet to comply with Regulation 33 (d) of The Securities and Exchange
Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015 regarding
submission of quarterly/yearly basis financial results by auditor who holds valid peer
review certificate issued by Institute of Chartered Accountants in India. |
The Company is in process to appoint a statutory auditor of the Company who holds
valid peer review certificate issued by Institute of Chartered Accountants in India. |
| 13 The Company has made Delay in submission of Regulation 34 of Securities and
Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015
submission of Annual Report for the financial year 2020-21. |
The Company has made delay in submission of Annual Report to BSE. However, the Company
has submitted Annual Report in XBRL with in prescribed time. |
| 14 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. |
The Company will comply with the said regulation in current financial year and will
maintain functional website of the Company. |
| 15 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 of financial year
2021-22. |
The Company assures to comply with Regulation 47 of SEBI(LODR) Regulations, 2015 in
the current financial year and will provide newspaper advertisement as per the requirement
of the said regulation. |
| 16 The Company is yet to update details of Statutory Auditor of the Company through
BSE Listing Centre. |
The company assures to comply with the same in current financial year. |
| 17 The company has not complied with the requirement of the SEBI circular
LIST/COMP/59/2019-20 dated 26th November, 2018 regarding disclosure of initial and Annual
Disclosure to be made by an entity identified as a Large Corporate. |
The company assures to comply with the same in current financial year. |
| 18 The Company has not complied with Regulation 76 of Securities and Exchange Board of
India (Depository Participant) Regulation, 1996 and Regulation 74(5) Disclosure regarding
timely dispose of transfer and transmission request for all the quarter of financial year
2020-21. |
The company assures to comply with the same in current financial year. |
| 19 The Independent director has not registered himself under ID Databank. |
The Company will comply with the same in current financial year |
| 20 The company has not filed form MGT-15 report on AGM to ROC for 2020-21. |
The Company will Comply with the same in future. |
Your company had laid down set of standards, processes and structure which enables to
implement internal financial control across the organization and ensure that the same are
adequate and operating effectively. 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
sub-regulation (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 non-independent
directors, performance of the board as a whole and performance of the Chairman was
evaluated, taking into account the views of executive directors and non-executive
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. However, the company has accepted
unsecured loan from Director of the Company which is exempt as per Section 73 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.
An outstanding amount of unsecured loan as on 31st March, 2022 was Rs. 19,60,000/-
Details regarding an Unsecured Loan Taken and Repaid during the year are given below:
| SR. NO NAME OF DIRECTO R |
OPENING BALANCE AS ON 01/04/2021 |
LOAN TAKEN (Rs.) |
LOAN REPAID (Rs) |
OUTSTANDING AS ON 31/03/2022 |
| 1. Mrs. Bhavna Ashar |
14,80,000/- |
4,80,000/- |
|
19,60,000/- |
| TOTAL |
14,80,000/- |
4,80,000/- |
- |
19,60,000/- |
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
Regulation 17 to 27 and clauses (b) to (i) of sub-regulation (2) of regulation 46 and para
C, 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,
a Regulation 22 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations,
2015 Vigil Mechanism for directors and employees to report genuine concerns has been
established.
19. CONSEVATION OF ENERGY & TECHNOLOGY ABSORTION:
(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:
There were no materially significant related party transactions entered by the Company
with Promoters, Directors, Key Managerial Personnel or other persons which may have a
potential conflict with the interest of the company.
The policy on materiality of Related Party Transactions and also on dealing with
Related Party Transactions as approved by the Audit Committee and the Board of Directors
has been approved by the board.
However, the Disclosure for Related Party Transaction as required under Section 134 of
the Companies Act, 2013 regarding the particulars of every contract or arrangements
entered into by the Company with related parties referred to in subsection (1) of section
188 of the Companies Act, 2013 is disclosed in Form No. AOC-2 in "Annexure III".
23. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:
In terms of provisions of Section 134 (3) (g), 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 sub-section 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 if employed for part of the year and Rs. 1.02 Crore
Per Annum if employed for the whole year.
25. 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.
26. 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.
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 work place received
from any women employee.
There were only three employees were 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. BRIEF OF SHAREHOLDING PATTERN:
The shareholding pattern for the financial year 2021-22, is as follows:
| SR NO |
No. of Shares held at the beginning of the year:
01/04/2021 |
No. of Shares held at the end of the year :31/03/2022 |
|
| Category of Shareholder |
Demat |
Physical |
Total Shares |
Total % |
Demat |
Physica l |
Total Shares |
Total % |
% Change |
| (A) (Shareholding of Promoter and Promoter Group |
| Indian |
| 1. INDIVIDUAL / HUF |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Total Shareholding |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
(B) Public shareholding |
|
|
|
|
| 2. BODIES CORPORATE |
22044631 |
21000 |
22065631 |
19.1044 |
22207081 |
21000 |
22228081 |
19.2451 |
0.1407 |
| 3. INDIVIDUAL |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| 4. (CAPITAL UPTO TO Rs. 1 Lakh) |
3671451 |
4406300 |
8077751 |
6.9937 |
3684961 |
440630 0 |
8091261 |
7.0054 |
0.0117 |
| 5. (CAPITAL GREATER THAN Rs. 1 Lakh) |
70297210 |
340000 |
70637210 |
61.1578 |
70513500 |
340000 |
70853500 |
61.3450 |
0.1872 |
| 6. ANY OTHERS (Specify) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| 7. NBFC |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| 8. HINDU UNDIVIDED FAMILY |
14327072 |
|
14327072 |
12.40 |
14327072 |
|
14327072 |
12.40 |
|
| 8. CLEARING MEMBER |
392250 |
- |
392250 |
0.33 |
0 |
- |
0 |
0 |
-0.33 |
| 9. NONRESIDENT INDIANS (NRI) |
86 |
|
86 |
0.00 |
86 |
|
86 |
0.00 |
|
| 10. NONRESIDENT INDIANS (REPAT) |
|
|
|
|
|
|
|
|
|
| 11. IEPF |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Total Public Shareholding |
110732700 |
4767300 |
115500000 |
100.00 |
110732700 |
476730 0 |
115500000 |
100.00 |
0.000 |
| GRAND TOTAL |
110732700 |
4767300 |
115500000 |
100.00 |
110732700 |
476730 0 |
115500000 |
100.00 |
0.000 |
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 the
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. However companys
trading is been suspended on Bombay Stock Exchange from January, 2015 as a surveillance
measure.
33. SIGNIFICANT OR MATERIAL EVENTS OCCURRED AFTER BALANCESHEET DATE:
No Event has occurred after the balance sheet date that representing the material
changes and commitment that affecting the Financial position of the company.
34. RISK MANAGEMENT
Your Company has developed and implemented a Risk Management Policy which includes
identification of elements of risk, if any, which in the opinion of the Board, may
threaten the existence of the Company. Your Company has a risk identification and
management framework appropriate to the size of your Company and the environment under
which it operates. The process involves identifying both external and internal risks and
the readiness to respond to extreme risks like calamities and disasters. Risks are being
continuously identified in relation to business strategy, business continuity/contingency
plans, operations and transactions, statutory / legal compliance, financial reporting,
information technology system, cyber security and overall internal control framework.
35. STATEMENT OF DIRECTORS RESPONSIBILITY:
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, 2022,
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, 2022 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 co-operation 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: RAJKOT |
BY ORDER OF THE BOARD OF DIRECTORS, |
| DATE: 27/08/2022 |
FOR, ATLANTA INFRASTUCTURE & FINANCE LIMITED |
|
SD |
SD |
|
MR. SURESH MAVANI |
MR. MANISH ASHAR |
|
DIRECTOR |
DIRECTOR |
|
(DIN:01556518) |
(DIN-02406252) |
+91-9892691696
