Black Opal Consultants Ltd Directors Report

The Shareholders,

BLACK OPAL CONSULTANTS PRIVATE LIMITED

Your directors have pleasure in presenting to you the Annual Report on the business and operations-of the Company together with the audited statement of accounts for the year ended 31st March 2024 and the auditors report thereon,

BRIEF DESCRIPTION OF THE COMPANDS WORDING DURING THE YEAR.

The Company is engaged in the business of Real Estate Activities.

PERFORMANCE & FINANCIAL RESULT:

During the year the company has earned a net profit of Rs. 5,79,49,814.30 (before tax) (previous year Profit of Rs. 1,98,34,581.66)

DIVIDEND

No dividend is declared to the equity shareholders keeping in view of the financial requirement of the company, your directors have not recommended any payment of dividend for the year 2023-24.

RESERVES:

No amount is proposed to be transferred in general reserve by the board of the company. CHANGE IN THE NATURE OF BUSINESS:

There is no Change in the nature of the business activity during the Year.

PUBLIC DEPOSITS.

The company has not accepted any fixed deposits from the public during the concerned period

MATERIAL CHANGES AND COMMITMENT, AFFECTING FINANCIAL POSITION BETWEEN THE END OF THE FINANCIAL YEAR AND THE DATE OF THE REPORT:

No material changes and commitments have occurred affecting the Financial Position between the end of the financial year and the date of the report.

DETAILS OF SIGNIFICANT AND MATERIAL ORDER:

There are no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and companys operations in future.

DETAILS OF SUBSIPIARY/JOINT VENTURES/ASSOCI ATE COMPANIES:

AUDITORS:

M/s. JPMG & ASSOCIATES LLP, Chartered Accountants, Delhi was appointed as Statutory, Auditors of the company to hold office until the conclusion of Annual General Meeting to be held in. the calendar year 2026 in the annual general meeting held on 30^th July, 2021.

Accordingly, the appointment of JPMG & ASSOCIATES LLP, Chartered Accountants, as Statutory Auditors of the company, is placed for ratification by the Shareholders. In this regard, the company has received a certificate from the auditors to the effect that if they are reappointed, it would be in accordance with the provisions of section 141 of the Companies Act, 2013.

AUDITORS REPORT:

The Notes on the financial statements referred to in the Auditors Report are self-explanatory and do not call for any further comments. The Auditors Report does not contain any qualification, reservation, or adverse remark.

SHARE CAPITAL:

During the year there is no change in the share capital of the company.

EXTRACT OF ANNUAL RETURN:

In accordance, with Section 134(3)(a) of the Companies Act, 2013, an extract of the annual return in Form MGT-9 is appended to this report.,

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The information required under Section 134 (3) (m) of the Companies Act, 2013, read with Companies (Accounts) Rules, 2014 are as under:

(1) Part A and B pertaining to conservation of energy and technology absorption are not applicable to the Company.

(2) Foreign Exchange Earnings and Outgo:

a. foreign exchange earnings	Rs. Nil
b. foreign exchange outgo	Rs. Nil

CORPORATE SOCIAL RESPONSIBILITY (CSR):

Provisions of Companies Act, 2013 In respect of the Corporate Social Responsibility are not applicable to the Company

DIRECTORS:

During the year no change took place in the Board of Directors.

MEETING OF THE BOARD OF DIRECTORS:

The Board met 6 (Six) times during the financial year, details of which are given are as per attachment.

LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:

There are no loans, guarantees or investment made u/s 186 of the Companies Act, 2013 during the year.

CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

During the Financial Year, the Company has not entered any contract/ arrangements or transactions with any related party. Further, Your Directors draw the attention of the members to Note 26(vi) to the financial statement which sets out related party disclosures.

PARTICULARS OF EMPLOYEES:

The provisions of Rule 5(2) of the Companies (Appointment and Remuneration Of Managerial Personnel) Rules, 2014 are not applicable to the company as no employee was in receipt of remuneration to the extent laid down therein.

RISK MANAGEMENT POLICY:

The management of the company does not foresee any significant risk which may threaten the existence of the company.

INTERNAL FINANCIAL CONTROL:

The company has in place adequate internal financial controls with reference to financial statements. During the year, such controls were tested and no reportable material weaknesses in the design or operation were observed.

DIRECTORS RESPONSIBILITY STATEMENT:

As required under clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, the Directors state that:

a. In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanations relating to material departures.

b. The directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent 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 of the company for that year.

c. The directors have taken proper and sufficient 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 fraud and other irregularities.

d The Directors have prepared the accounts for the year ended 31st March, 2024 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,.

ACKNOWLEDGEMENTS:

Your Directors take this opportunity to place on record their gratitude for the confidence reposed by the clients, banks and shareholders.