To,
The Members,
Your directors have pleasure in presenting the 40th Annual Report together
with audited statement of accounts of the Company for the year ended on 31st
March 2023.
FINANCIAL RESULTS:
The financial performance of your Company for the year ended March 31, 2023 is
summarized below: -
Particulars |
31stMarch 2023 (Amount in Lakhs) |
31st March 2022 (Amount in Lakhs) |
Revenue from Operations |
412.16 |
1200.890 |
Other Income |
50.57 |
3.130 |
Total Revenue |
462.73 |
1204.03 |
Total Expenses |
455.99 |
1173.420 |
Profit before tax |
6.74 |
30.600 |
Profit after tax |
2.27 |
28.840 |
BUSINESS PERFORMANCE AND SEGMENT REPORTING:
During the financial year ended 31st March 2023, the Company has recorded
total revenue of Rs. 462.73 Lakhs and incurred net Profit of Rs. 2.27 lakhs.
Your Company continues carrying on trading activities in textiles products, which is
major source of segment in the Company.
OPERATIONS AND STATE OF COMPANY AFFAIRS
During the year under review, your Company has recorded total revenue of Rs. 462.73
Lakhs against Rs. 1204.03 Lakhs in the previous year. Profit before Taxation for the
financial year ended 31st March, 2022 was Rs. 6.74 Lakhs as compared to a Profit of Rs
30.600 Lakhs in the previous year. Profit after Tax is Rs. 2.27 Lakhs as compared to Rs.
28.840 Lakhs in the previous year.
INDUSTRY OVERVIEW:
As stated in Management Discussion and Analysis Report.
BUSINESS OVERVIEW:
As stated in Management Discussion and Analysis Report.
SHARE CAPITAL:
Equity Share Capital:
The authorized Share Capital of the Company as on the date of Balance sheet is Rs.
11,00,00,000/- divided into 11,00,00,000equity shares of Rs. 1/- each.
The Paid-up share Capital of the Company as on the date of Balance Sheet is
Rs.10,26,90,000/- divided into 10,26,90,000 equity shares of Rs. 1/- each.
During the financial year 2022-23, there was no change in the Share Capital of the
Company. The Company has neither issued any shares nor has granted neither any stock
Options nor any Sweat Equity Shares during the year.
TRANSFER TO RESERVES:
The Board of Directors of your Company have not transferred any amount to the reserves
for the financial year under review.
BSE LISTING
The Company is listed on Bombay Stock Exchange (BSE) with effect from 21st December,
2018.
ADEQUACY OF INTERNAL CONTROL:
Adequate internal controls, systems, and checks are in place, commensurate with the
size of the Company and the nature of its business. The management exercises financial
control on the operations through a well-defined budget monitoring process and other
standard operating procedures.
HUMAN RESOURCE DEVELOPMENT:
The Company recognizes the importance of Human Resource as a key asset instrumental in
its growth. The Company believes in acquisition, retention and betterment of talented team
players. With the philosophy of inclusive growth, the Company has redefined its
performance management system. The new system focuses on progression of individual
employees together with organizational goals. Under the new system increased thrust will
be on job rotation and multiskilling.
SEGMENT-WISE PERFORMANCE:
The Company is into single reportable segment only.
COMPLIANCE:
The Compliance function of the Company is responsible for independently ensuring that
operating and business units comply with regulatory and internal guidelines. The
Compliance Department of the Company is continued to play a pivotal role in ensuring
implementation of compliance functions in accordance with the directives issued by
regulators, the Companys Board of Directors and the Companys Compliance Policy. The
Audit Committee of the Board reviews the performance of the Compliance Department and the
status of compliance with regulatory/internal guidelines on a periodic basis
DIVIDEND:
Keeping in mind the overall performance and outlook for your Company, your Board of
Directors are not declaring dividends as the company require funds for its ongoing
project.
Your Directors do not recommend any dividend for the year ended 31st March, 2023
JOINT VENTURES/ASSOCIATE/SUBSIDIARY COMPANIES:
The Company does not have any Joint Ventures/Associate/Subsidiary Companies.
ACCEPTANCE OF FIXED DEPOSITS:
The Company has not accepted any Fixed Deposits from general public within the purview
of Section 73, of the Companies Act, 2013, read with the Companies (Acceptance of Deposit)
Rule, 2014, during the year under review.
EXTRACT OF ANNUAL RETURN:
Pursuant to Section 92(3) read with Section 134(3) (a) of the Companies Act, 2013 the
Annual Return as on March 31, 2023 is available on the Companys website and accessible
through web link at http://ninecolours.com/
PARTICULARS OF CONTRACT OR ARRANGEMENT WITH RELATED PARTY:
During the year under review, the transactions entered into by the Company with related
parties as defined under the Act and the Listing Regulations, were in the ordinary course
of Business and on arms length basis. Particulars of contracts or arrangements with
related parties as required under Section 134(3)(h) of the Act, in the prescribed Form
AOC-2 is given in Annexure I of this Report. Disclosure of transactions with
related parties as required under the applicable Accounting Standards have been made in
the notes forming part of the financial statements. The policy on Related Party
Transactions as approved by the Board is available on the Companys website.
MANAGEMENT DISCUSSION AND ANALYSIS:
The Management Discussion and Analysis Report for the Financial Year under review as
stipulated under -Regulation 34 of the SEBI (Listing Obligations and Disclosure
Requirements), Regulations, 2015, is attached and forms a part of this Report.
LOANS, INVESTMENT AND GUARANTEES BY THE COMPANY:
Particulars of loans given, investments made, guarantees given and securities provided
under Section 186 of the Companies Act, 2013, wherever applicable will form part of the
Notes to the Financial Statements.
INTERNAL FINANCIAL CONTROLS:
The Internal Financial Controls with reference to financial statements as designed and
implemented by the Company are adequate. The Internal Auditor continuously monitors the
efficiency of the internal controls/ compliance with the objective of providing to Audit
Committee and the Board of Directors, an independent, objective and reasonable assurance
of the adequacy and effectiveness of the organisations risk management, control and
governance processes. This system of internal control facilitates effective compliance of
Section 138 of the Act and the Listing Regulations.
During the year under review, no material or serious observations has been received
from the Auditor of the Company for inefficiency or inadequacy of such controls.
BOARD OF DIRECTORS:
The Company is managed by well-qualified professionals. All directors are suitably
qualified, experienced and competent. The members of the Board of Directors are persons
with considerable experience and expertise in Audit, Accounts, Finance, Administration and
Marketing. The Company is benefitted by the experience and skills of the Board of
Directors. The Independent Directors have made disclosures to the Board confirming that
there is no material, financial and/or commercial transactions between them and the
company which could have potential conflict of interest with the company at large.
Appointment and Resignation of Directors and Key Managerial Person:
Pursuant to Section 152 of the Companies Act, 2013 (“the Act”), Mr. Priyesh
Shantilal Jain (DIN: 00741595) is liable to retire by rotation and being eligible, has
offered himself for re-appointment.
Based on the confirmations received from Directors, none of the Directors are
disqualified from appointment under Section 164 of the Companies Act, 2013.
The following are the List of Directors and KMP of the Company during the year:
SR NO CATEGORY/ DESIGNATION |
NAME OF THE DIRECTOR |
I) PROMOTER AND EXECUTIVE DIRECTOR |
|
1 Chairman and Managing Director |
Mr. Bhavin Shantilal Jain |
2 Executive Director |
Mr. Mitesh Ajit Thakkar |
II) PROMOTER AND NON-EXECUTIVE DIRECTOR |
|
1 Non-Executive Director |
Mr. Priyesh Shantilal Jain |
III) INDEPENDENT DIRECTOR |
|
1 Independent Director |
Mrs. Gayathri Muttur Nagaraj |
2 Independent Director |
Mr. Dinesh Jamnadas Shah |
3 Independent Director |
Mr. Vithal Ashokrao Mahajan |
he Composition of Key Managerial Personnel as on 31 st March, 2023 is as below:
SR DESIGNATION |
NAME OF KMP |
NO |
|
1 Company Secretary and Compliance Officer |
Mr. Ashish Kumar Vijay # |
2 Chief Financial Officer |
Mr. Mitesh Thakkar |
3 Managing Director |
Bhavin Shantilal Jain |
# Mr. Ashish Kumar Vijay resigned from the post of Company Secretary & Compliance
Officer w.e.f 7th July, 2023 and Avinash Manganu Jha has been appointed as
Company Secretary & Compliance Officer w.e.f 13th July, 2023
The members of the Board of Directors of the Company are of proven competence and
integrity. Besides having financial literacy, experience, leadership qualities and the
ability to think strategically, the Directors have a significant degree of commitment to
the Company and devote adequate time for the meetings, preparation and attendance.
MEETINGS OF THE BOARD OF DIRECTORS:
During FY 2022-23, Six meetings of the Board of Directors were held on the following
dates:
• 28th May, 2022
• 13th August, 2022
• 5th September, 2022
• 14th November, 2022
• 1st February, 2023
• 13th February, 2023
Name of Director |
DIN |
Category |
1 Board Meetings Held Attended |
Mr. Bhavin Shantilal Jain |
00741604 |
Managing Director |
6 |
6 |
Mr. Priyesh Shantilal Jain |
00741595 |
Non-Executive Non-Independent Director |
6 |
6 |
Mrs. Gayathri Muttur Nagaraj** |
06742638 |
Woman Independent Director |
6 |
3 |
Mr. Dinesh Jamnadas Shah |
02377709 |
Independent Director |
6 |
4 |
Mr. Mitesh Ajit Thakkar## |
06994888 |
CFO & Executive Director |
6 |
6 |
Mr. Vithal Ashokrao Mahajan |
07358366 |
Independent Director |
6 |
3 |
Ms. Prajakta Ashok Patil* |
07805324 |
Woman Independent Director |
6 |
1 |
Mr. Jigar Balmukand Agarwal # |
06494120 |
Executive Director |
6 |
2 |
*Ms. Prajakta Ashok Patil resigned from the post of Woman Independent Director w.e.f 24th
June, 2022 ** Mrs. Gayathri Muttur Nagaraj has been appointed as Woman Independent
Director w.e.f 13th August, 2022 #Mr. Jigar Balmukand Agarwal resigned from the
post of Executive Director w.e.f 29th August, 2022.
# #Mr. Mitesh Thakkar has been appointed as Executive Director w.e.f 5th
September, 2022
The intervening gap between the meetings was within the period prescribed under section
173 of the Companies Act, 2013, read with Companies (Meetings of Board and its Powers)
Rules, 2014, relevant circulars, notifications, orders and amendments thereof.
DIRECTORS REMUNERATION POLICY:
The Board on the recommendation of the Nomination and Remuneration Committee has framed
a Remuneration policy, providing criteria for determining qualifications, positive
attributes, independence of a director and a policy on remuneration for Directors, key
managerial personnel and other employees. The details of this policy are given in the
Corporate Governance Report which forms part of this Report.
PARTICULARS OF EMPLOYEES
The information required under section 197 of the Companies Act, 2013 read with rule
5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
is presented in a separate section forming part of this Annual Report as ANNEXURE II.
STANDALONE FINANCIAL STATEMENT:
The audited Standalone financial statement of the Company prepared in accordance with
relevant Accounting Standards (AS) issued by the Institute of Chartered Accountants of
India forms part of this Annual Report. The Compliance Officer will make these documents
available upon receipt of a request from any member of the Company interested in obtaining
the same. These documents will also be available for inspection at the Registered Office
of your Company during working hours up to the date of the Annual General Meeting.
INDEPENDENT DIRECTORS:
A separate meeting of the independent directors (“Annual ID Meeting”) was
convened, which reviewed the performance of the Board (as a whole), the Non-Independent
Directors and the Chairperson. Post the Annual ID Meeting, the collective feedback of each
of the Independent Directors was discussed by the Chairperson with the Board covering
performance of the Board as a whole, performance of the Non-Independent Directors and
performance of the Board Chairman.
All Independent Directors have given declarations that they meet the criteria of
independence as laid down under Section 149(6) of the Companies Act, 2013 and Regulation
16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
and there is no change in their status of Independence. As required under Section 149(7)
of the Companies Act, 2013.
DECLARATION BY INDEPENDENT DIRECTORS:
During the financial year 2022-23, all the Independent Directors of the Company have
given necessary declarations regarding their Independence to the Board as stipulated in
Section 149(6) & 149(7) of the Act read with Rule 6 of the Companies (Appointment and
Qualification of Directors) Rules, 2014 and Regulation 16(1) (b) and 25(8) of the SEBI
Listing Regulations
In the opinion of the Board, all the Independent Directors fulfil the conditions
specified in the Act with regard to integrity, expertise and experience (including the
proficiency) of an Independent Director and are independent of the management.
AUDITORS:
• Statutory Auditors:
ADV & Associates., Chartered Accountants, Mumbai, having FRN: 128045W, Auditors of
the Company have submitted their Independent Auditors Report on the Financial Statements
of the Company for the year ended 31st March, 2023 and they have given an unmodified
opinion(s) report on the Financial Statements for the year under review. The Auditors have
confirmed that they comply with all the requirements and criteria and are qualified to
continue to act as Auditors of the Company. No frauds have been reported by the Auditors
under Section 143(12) of the Act.
• Secretarial Auditor:
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has
appointed M/S Jaymin Modi & Co, Company Secretaries to undertake the Secretarial Audit
of the Company. The Report of the Secretarial Auditor is annexed herewith as “Annexure
III”.
AUDITORS REPORT:
The observations and comments furnished by the Auditors in their report read together
with the notes to Accounts are self- explanatory and hence do not call for any further
comments under Section 134 of the Companies Act, 2013.
DIRECTORS RESPONSIBILITY STATEMENT:
In accordance with the requirement of Section 134 of the Companies Act, 2013, the Board
of Directors of the Company confirms:
1. In the preparation of the annual accounts for the financial year ended 31st March,
2023 the applicable accounting standards have been followed along with proper explanation
relating to material departures.
2. That 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 and loss of the Company for the year ended 31st
March, 2023.
3. That the Directors have taken sufficient and proper care for the maintenance of
adequate accounting records in accordance with the provisions of the Companies Act, 2013
for safeguarding the assets of the Company and for preventing and detecting material fraud
and other irregularities.
4. That the Directors have prepared the Annual Accounts on a going concern basis.
5. There are no material changes & commitments, if any, affecting the financial
position of the company which have occurred between the end of the financial year of the
company to which the financial statements relate & the date of the report.
6. There are proper systems which have been devised to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and operating
effectively.
7. That the Directors had laid down internal financial controls to be followed by the
Company and that such internal financial controls are adequate and were operating
effectively.
ANNUAL EVALUATION BY THE BOARD OF ITS OWN PERFORMANCE, ITS COMMITTEES AND INDIVIDUAL
DIRECTORS:
Pursuant to the provisions of Section 134(3)(p) of the Companies Act, 2013 and the
Listing Regulations, the Board has carried out an annual performance evaluation of its own
performance, of individual Directors as well as the evaluation of the working of its all
Committees.
a. Independent Directors
The performance of each independent director was evaluated by the entire Board of
Directors (in the absence of the director getting evaluated) on various parameters like
engagement, leadership, analysis, decision making, communication, governance, interest of
stakeholders, etc. The Board was of the unanimous view that every Independent Director was
a reputed professional and brought his rich experience to the deliberations of the Board.
The Board also appreciated the contribution made by all Independent Directors in guiding
the management to achieving higher growth and continuance of each independent director on
the Board will be in the interest of the Company.
b. Non-Independent Directors
The performance of all the non-independent directors was evaluated by the Independent
Directors at their separate meeting. Further, their performance was also evaluated by the
Board of Directors. The various criteria considered for the purpose of evaluation included
leadership, engagement, transparency, analysis, decision making, functional
knowledge, governance, stakeholders etc. The Board was of the unanimous view that all
the non-independent directors were providing good business and people leadership.
DETAILS OF THE COMMITTEES OF DIRECTORS
Details of Audit Committee of Directors, Nomination and Remuneration Committee of
Directors and Stakeholders Relationship/Grievance Committee of Directors as required under
the Companies Act, 2013 are provided in Corporate Governance Report and forming part of
the report. The recommendation by the Audit Committee as and when made to Board has been
accepted by it
RISK MANAGEMENT:
During the year, Management of the Company evaluated the existing Risk Management
Policy of the Company to make it more focused in identifying and prioritizing the risks,
role of various executives in monitoring & mitigation of risk and reporting process.
Its aim is to enhance shareholders value and provide an optimum risk-reward trade off. The
Risk Management Policy has been reviewed and found adequate to the requirements of the
Company, and approved by the Board. The Management evaluated various risks and that there
is no element of risk identified that may threaten the existence of the Company.
CORPORATE GOVERNANCE:
Your Company has incorporated the appropriate standards for corporate governance.
Pursuant to Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, Company is filing Corporate Governance Report to stock exchange
quarterly. However, as per Regulation 34(3) read with Schedule V of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 company is giving report on
corporate governance report in annual report of the company. Corporate Governance Report
is as per Annexure - 1. The requisite certificate from the Auditors of the Company
confirming compliance with the conditions of Corporate Governance is attached in the
report on Corporate Governance.
CORPORATE SOCIAL RESPONISIBILITY:
During the period under review Corporate Social Responsibility in accordance with the
provisions of section 135 of the Companies Act, 2013 wasnt applicable to the Company.
CODE OF CONDUCT
Regulations 17(5) of the SEBI (LODR) Regulations, 2015, requires listed Companies to
lay down a Code of Conduct for its Directors and Senior Management, incorporating duties
of Directors as laid down in the Companies Act, 2013. The Board has adopted a Code of
Conduct for all Directors and Senior Management of the Company and the same has been
placed on Companys website.
DIRECTORS INTEREST IN THE COMPANY
Sometime, the Company does enter into contracts with companies in which some of the
Directors of the Company are interested as director or member. However, these contracts
are in the ordinary course of the Companys business without giving any specific weightage
to them. Directors regularly make full disclosures to the Board of Directors regarding the
nature of their interest in the companies in which they are directors or members. Full
particulars of contracts entered with companies in which directors are directly or
indirectly concerned or interested are entered in the Register of Contracts maintained
under Section 189 of the Companies Act, 2013 and the same is placed in every Board Meeting
for the noting
secretarial standards
During the year under review, the Company has complied with Secretarial Standards on
meetings of the Board of Directors (“SS-1”) and on General Meetings
(“SS-2”) as amended and issued from time to time by the Institute of Company
Secretaries of India in terms of Section 118(10) of the Companies Act, 2013.
DISCLOSURE AS REQUIRED UNDER SECTION 22 OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:
The Company has in place an Anti-Sexual Harassment Policy in line with the requirements
of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act
2013. Internal Complaints Committee has been set up to redress complaints received
regarding sexual harassment. All employees (permanent, contractual, temporary &
trainees) are covered under the policy.
The following is a summary of sexual harassment complaints and disposed of during the
year 2022-23
a) No. of complaints received: NIL
b) No. of complaints disposed NIL
Further the Company has also set up an Internal Complaint Committee as required to be
formed under Section 4 of the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 and Rules made thereunder. The members of the
committee are the female employees of the Company and they directly report to the
management of the Company.
During the financial year 2022-23, the Committee submitted its Annual Report as
prescribed in the said Act and there was no complaint as regards sexual harassment
received by the Committee during the year.
CHANGE IN THE NATURE OF BUSINESS
There is no change in the nature of the business of the Company during the year.
MATERIAL CHANGES AND COMMITMENTS, IF ANY AFFECTING THE FINANCIAL POSITION OF THE
COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH
THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE
REPORT:
There are no Material changes and commitments affecting financial position between end
of the financial year and the date of the report is given as hereunder.
WHISTLE BLOWER POLICY AND VIGIL MECHANISM:
To create enduring value for all stakeholders and ensure the highest level of honesty,
integrity and ethical behaviour
in all its operations, the Company has formulated Vigil Mechanism Policy. This policy
aspires to encourage all employees to report suspected or actual occurrence of illegal,
unethical or inappropriate events (behaviour or practices) that affect Companys
interest/image.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:
The Additional information required under the provisions of Section 134(3)(m) of the
Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 and forming part of the
Report is reproduced herewith:
(A) CONSERVATION OF ENERGY
i) The steps taken or impact on conservation of energy: NIL
ii) The steps taken by the company for utilizing alternate sources of energy: NIL
iii) The capital investment on energy conservation equipments: NIL
(B) TECHNOLOGY ABSORPTION
i) The efforts made towards technology absorption: NIL
ii) The benefits derived like product improvement, cost reduction, product development
or import substitution:
> Better economy, reduction in emission & clean operation
> Optimum efficiency
iii) In case of imported technology (imported during the last year reckoned from the
beginning of the financial year): NIL
> The details of technology imported: NIL
> The year of import: NIL
> Whether the technology fully absorbed: NIL
> If not fully absorbed, areas where absorption has not taken place, and the reasons
thereof; and: NIL
iv) The expenditure incurred on Research and Development: NIL
(b) Foreign Exchange earnings and outgo:
i) Total foreign exchange inflow: NIL
ii) Total foreign exchange outflow: NIL
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANYS OPERATIONS:
There is no significant and material order passed by the Regulators or Courts or
Tribunals impacting the going concern status and Companys operations.
DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016 (IBC) DURING THE YEAR ALONG WITH THEIR STATUS AS AT THE END OF THE
FINANCIAL YEAR
Not applicable as the Company has not made or received any application under the IBC
during the financial year.
DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME
SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL
INSTITUTIONS ALONG WITH THE REASONS THEREOF
The Company has not entered into any one-time settlement and thus, this clause is not
applicable.
CAUTIONARY STATEMENT:
Investors are cautioned that this discussion contains statements that involve risks and
uncertainties. Words like anticipate, believe, estimate intend, will, expect and other
similar expressions are intended to identify “Forward Looking Statements”. The
company assumes no responsibility to amend, modify or revise any forward looking
statements, on the basis of any subsequent developments, information or events. Actual
results could differ materially from those expressed or implied.
GREEN INITIATIVE
Corporate Affairs, Government of India, enabling electronic delivery of documents
including the Annual Report etc. to Members at their e-mail address registered with the
Depository Participants (“DPs”) and RTAs. To support the ‘Green
Initiative, Members who have not registered their email addresses are requested to
register the same with the Companys Registrar and Share Transfer Agent
(“RTAs”)/ Depositories for receiving all communications, including Annual
Report, Notices, Circulars, etc., from the Company electronically. Pursuant to the MCA
Circular No. 10/2022 dated 28 December 2022 and SEBI Circular dated 05 January 2023, the
Annual Report of the Company for the financial year ended 31 March 2023 including therein
the Audited Financial Statements for the financial year 2022-23, are being sent only by
email to the Members.
ACKNOWLEDGEMENT:
Your directors place on record their appreciation for the contribution made by the
employees at all levels enabling the Company to achieve the performance during the year
under review.
Your directors wish to place on record their sincere appreciation for the continued
support and cooperation extended to the Company by its bankers, customers, vendors,
suppliers, dealers, investors, business associates, all the
their faith in the Company
Registered Office:
NIVAKA FASHIONS LIMITED Aa-47, Salt Lake City Sec: 1, Bl-Aa Kolkata Kolkata- 700064
By order of the Board For Nivaka Fashions Limited
Place: Kolkata
Date: 7th September, 2023
Sd/- |
Sd/- |
Bhavin Shantilal Jain |
Priyesh Shantilal Jain |
Managing Director |
Director |
DIN- 00741604 |
DIN-00741595 |
+91-9892691696
