To,
The Members,
Your Directors have pleasure in presenting their 41st Annual
Report on the business and operations of the Company and the accounts for the Financial
Year ended March 31, 2023.
1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY.
Your Board is pleased to present the highlights of the Standalone &
Consolidated financial statement of your company for the financial year 2022-23 and 2021
22 as under:
|
STANDALONE |
|
(Rupees in Hundred) |
Particulars |
2022-2023 |
2021-2022 |
| Profit Before Interest & Depreciation. |
13278.59 |
10172.37 |
| Less : Depreciation & Amortization |
25.59 |
46.62 |
| Less : Finance Cost |
8.12 |
6.27 |
| Profit Before Tax |
13244.88 |
10119.48 |
| Provision For Tax |
3322.66 |
0.12 |
| Amount Transferred to Reserves |
9922.22 |
10119.36 |
| Transfer to contingent provisions |
0.00 |
0.00 |
| against standard assets |
|
|
| Share of Profit of Associates |
- |
- |
| Profit & Loss for the year |
9922.22 |
10119.36 |
| Balance as per last balance sheet |
188481.13 |
176521.76 |
| Surplus carried to balance sheet |
9922.22 |
10119.36 |
2. BRIEF DESCRIPTION OF THE COMPANYS WORKING DURING THE YEAR /
STATE OF
COMPANYS AFFAIR
The profit of the company (PAT) for the year under review is Rs
9922.22/- as against profit of Rs 10119.36 /- in the previous year.
3. CHANGE IN THE NATURE OF BUSINESS
Your Directors are please to inform you that there was no change in the
nature of business of our Company during the Financial Year under review.
4. DIVIDEND
Your Directors decided and declare to plough back the profits for the
year under review into the growth opportunities which shall create value for the
shareholders and therefore does not recommend any dividend for the year under review.
5. RESERVES
Your company has not transferred any amount to the reserves of the
company.
6. CHANGE OF NAME
Your companys name is CONSECUTIVE INVESTMENTS & TRADING
COMPANY LIMITED and there is no change in its name during the year under review.
7. SHARE CAPITAL
Your Directors further ensures that during the year under review your
company has not bought back any of its securities or issued any Sweat Equity Shares or
issued any Bonus Shares or provided any Stock Option Scheme to the employees.
8. DIRECTORS AND KEY MANAGERIAL PERSONNEL a) Retire by rotation.
Ms. Smita Murarka (DIN : 07448865), who retire by rotation at the
ensuing general meeting pursuant to section 152 of the Companies Act, 2013 and being
eligible offer herself for reappointment. Your Director recommends his re- appointment.
The details are given in Annexure I forming part of the Board Report.
9. DECLARATION BY INDEPENDENT DIRECTOR
Your Company has received declaration from all the Independent
Directors of the company, pursuant to the provisions of Section 149(7) of the Companies
Act, 2013 stating that they meet the criteria of Independence as laid down under section
149(6) of the Companies Act, 2013.
10. PARTICULARS OF EMPLOYEES
Your Directors ensures that none of the employees of your company is in
receipt of salary and / or remuneration in excess of the threshold limit, pursuant to the
provisions of Rule 2 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014.
11. MEETING a) Board Meetings
A calendar of Meetings is prepared and circulated in advance to the
Directors. During the Financial Year 2022-2023 Four (4) Board Meetings were held, the
dates of the meeting being 30/05/2022, 13/08/2022,14/11/2022 and 01/02/2023. The
intervening gap between any two meetings held during the year was not more than one
hundred and twenty days. b) Audit Committee Meeting
A calendar of Audit Committee Meetings is prepared and circulated in
advance to the Members of the Committee. During the Financial Year 2022-23 four (4)
meeting of the Committee was held, the date of the meetings was 30/05/2022, 13/08/2022,
14/11/2022 and 01/02/2023. c) Nomination & Remuneration Committee.
A calendar of Nomination and Remuneration Committee Meeting is prepared
and circulated in advance to the Members of the Committee. During the Financial Year 2022
23 five (4) meeting of the Committee was held, the date of the meeting was 21/05/2022,
30/08/2022, 02/12/2022 and 22/02/2023. d) Shareholders Grievance Committee Meeting.
A calendar of Shareholders Grievance Committee Meeting is prepared and
circulated in advance to the Members of the Committee. During the Financial Year 2022 23
four (4) meeting of the Committee was held, the date of the meeting were 21/05/2022,
22/07/2022., 02/12/2022 and 14/03/2023 e) Risk Management Committee Meeting.
A calendar of Risk Management Committee Meeting is prepared and
circulated in advance to the Members of the Committee. During the Financial Year 2022-23
four (4) meeting of the Committee was held, the date of the meeting were 26/05/2022,
30/08/2022, 25/11/2022 and 24/03/2023
12. COMPOSITION OF BOARD OF DIRECTORS AND COMMITEES.
BOARD OF DIRECTORS
The Board of the company is headed by Mr. Vijay Kumar Jain of
the company, an eminent person of high credentials and of considerable professional
experience who actively contributed in the deliberation of the Board. As on close of
business hours of March 31, 2023 the Board comprised of four directors as mentioned below:
| Sl. No Name |
DIN |
Category |
Designation |
| 1. VIJAY KUMAR JAIN |
01376813 |
Executive |
Managing Director |
| 2. SMITA MURARKA |
07448865 |
Non-Executive |
Director |
| 3. KANTA BOKARIA |
09278050 |
Non-Executive |
Independent Director |
| 4. SUBODH KUMAR JAIN |
02564952 |
Non-Executive |
Independent Director |
AUDIT COMMITTEE
The chairman of the Audit Committee of the Company constituted under
Section 177 of the Companies Act, 2013 by the Board is headed by the Mrs. Kanta Bokaria,
(DIN: 09278050) Independent Director of the company. She is an eminent lady of high
credentials and of considerable professional experience. As on close of business hours of
March 31, 2023 the Board of Audit Committee comprised of four directors as mentioned
below.
| SL.NO NAME |
DIN |
DESIGNATION |
| 1. VIJAY KUMAR JAIN |
01376813 |
Managing Director |
| 2. SUBODH KUMAR JAIN |
02564952 |
Independent Director |
| 3. KANTA BOKARIA |
09278050 |
Independent Director |
NOMINATION & REMUNERATION COMMITTEE
The chairman of the Nomination and Remuneration Committee of the
Company constituted under Section 178 of the Companies Act, 2013 by the Board is headed by
Mrs. Kanta Bokaria (DIN:
09278050) Independent Director of the company. She is an eminent lady
of high credentials and of considerable professional experience. As on close of business
hours of March 31, 2023, the Board of Nomination and Remuneration Committee comprised of
three directors as mentioned below.
| Sl. No. Name |
DIN |
Designation |
| 1. SMITA MURARKA |
07448865 |
Non-Executive Director |
| 2. SUBODH KUMAR JAIN |
02564952 |
Independent Director |
| 3. KANTA BOKARIA |
09278050 |
Independent Director |
SHAREHOLDERS GRIEVANCE COMMITTEE
This committee was headed by Mrs. Kanta Bokaria (09278050), Independent
Director of the company. She is an eminent person of high credentials and of considerable
professional experience. As on close of business hours of March 31, 2023 the Board of
Shareholders Grievance Committee comprised of three directors as mentioned below.
| Sl. No Name |
DIN |
Designation |
| 1. SMITA MURARKA |
07448865 |
Non-Executive Director |
| 2. SUBODH KUMAR JAIN |
02564952 |
Independent Director |
| 3. KANTA BOKARIA |
09278050 |
Independent Director |
RISK MANAGEMENT COMMITTEE
The chairman of the risk Management Committee of the Company is headed
by Mrs. Kanta Bokaria (DIN: 09278050) Independent Director of the company. She is an
eminent lady of high credentials and of considerable professional experience. As on close
of business hours of March 31, 2023, the Board of Risk Management Committee comprised of
four directors as mentioned below.
| Sl. No. Name |
DIN |
Designation |
| 1. VIJAY KUMAR JAIN |
01376813 |
Managing Director |
| 2. SMITA MURARKA |
07448865 |
Non-Executive Director |
| 3. SUBODH KUMAR JAIN |
02564952 |
Independent Director |
| 4. KANTA BOKARIA |
09278050 |
Independent Director |
13. DETAILS OF SUBSIDIARY/JOINT VENTURES / ASSOCIATE COMPANIES
Pursuant to the provisions of section 129 of the Companies Act, 2013
and the rules framed there under, if any, the statement containing the salient feature of
the financial statement of a companys subsidiary or subsidiaries, associate company or
companies and joint venture or ventures as forming part of this report. Your Director is
please to inform you that as on the close of the 31st March, 2023 your company has no
subsidiary/joint venture/associate company.
14. VIGIL MECHANISM AND WHISTLE BLOWER POLICY
Your directors are pleased to inform you that the company has adopted a
vigil mechanism which comprises whistle blower policy for directors, employees, and
vendors of the company. This policy provides a formal mechanism for Directors employees
and vendors to approach the chairman of Audit committee to report concerns about
unethical, actual or suspected fraud or violation of company code of conduct and thereby
ensuring that activities of the company are conducted in a fair and transparent manner.
The policy is also available at the company website.
15. STATUTORY AUDITORS AND THEIR REPORT
M/s B M Chatrath & Co LLP, Chartered Accountants, (FRN:
301011E/E300025) was appointed as an Statutory Auditors of the Company at the 39th
Annual General meeting of the Company for a term of five years to hold office till the
conclusion of 44th Annual general meeting. The company has received certificate
from the Auditors to the effect that the appointment is in accordance with the limit
specified under section 139(9) of the Companies Act, 2013.
The Auditors Report for the financial year 2022-2023 does not contain
any qualifications, reservations or any adverse remarks.
16. SECRETARIAL AUDIT REPORT
Your Directors has appointed Mr. Anurag Fatehpuria, a Practicing
Company Secretary, as Secretarial Auditor pursuant to the provisions of section 204 of the
Companies Act, 2013 and Rule 9 of the Companies (Appointment and Remuneration of
Managerial Person) Rules, 2014, to undertake the secretarial audit of the company for the
financial year 2022-23. The Secretarial Audit Report in form MR 3 is given as Annexure
III forming part of this report.
The Secretarial Auditors Report for the financial year 2022 23 does
not contain any qualification, reservation or adverse remark. Notes to Accounts and
Auditors remark in their report are self - explanatory and do not call for further
comments.
17. INTERNAL AUDIT & CONTROL
The Company continues to engage M/s Udai Pathak & Co, Chartered
Accountants (Membership No: 420760) as its Internal Auditor for the financial year
2022-2023. During the year, the Company continued to implement their suggestions and
recommendations to improve the control environment. 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. Internal Auditors findings are discussed with the process owners and suitable
corrective actions taken as per the directions of Audit Committee on an ongoing basis to
improve efficiency in operations.
18. INTERNAL FINANCIAL CONTROL (IFC) SYSTEM AND ADEQUECY.
The Board of Directors of the company is responsible for ensuring the
IFC have been laid down in the company and that such control is adequate and operating
effectively. Your directors ensure final IFC framework has been laid down in your company
and it is commensurate with the size scale and complex of its operation.
19. EXTRACTS OF ANNUAL RETURN.
In accordance with the companies Act, 2013, the annual Return in the
prescribed format is available on the website of the company at
www.consecutiveinvestments.com .
20. MATERIAL CHANGES & COMMITMENTS
Your Director ensures that no material changes occurred subsequent to
the close of the financial year of the Company to which the balance sheet relates and the
date of the report that affecting the financial position of the company.
21. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS
There were no significant and material orders passed by the Regulators
or Courts or Tribunals during the year impacting the going concern status of the company
and its future business and operations.
22. DEPOSITS
Your Company has not accepted any Deposits from public within the
meaning section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposit)
Rules, 2014 during the year under review.
23. DISCLOSURE OF SEXSUAL HARASSMENT OF WOMEN AT WORK PLACE
In order to prevent sexual harassment of women at work place a new act
"The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)
Act, 2013" has been notified with effect from 9th December, 2013. As per section 4
read with section 6 of the act applies to companies having 10 employees or more and such
companies shall be required to constitute internal complaint committee.
Your Directors are pleased to inform you that as the number of
employees in your company is below the threshold limit, hence, it is not required to
constitute such committee.
Your directors are also pleased to inform you that there is no such
case has been reported during the year under review.
24. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION.
Your directors are also pleased to inform you that your company has not
made any investment through more than two layers of investment companies during the year
under review
25. RISK MANAGEMENT COMMITTEE
The Board of Directors of the Company has formed a Risk Management
Committee for identification, evaluation and mitigation of External and Internal Material
Risk. The Committee shall establish a framework for the Companys risk management
process and to ensure its implementation. The Committee shall periodically review the risk
management process and practices of the Company and establish procedure to mitigate risks
on a continuing basis.
26. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES.
The particulars of every contract or arrangements entered into by the
Company with related parties including certain arms length transactions thereto shall be
disclosed in AOC 2. The details are annexed herewith and marked as Annexure V
27. CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of
corporate governance and adhere to the corporate governance requirements set out by SEBI.
Your Company has also implemented several best corporate governance practices as prevalent
globally. The Company Corporate governance ensuring transparency, accountability,
integrating in all its relations with all the stakeholders (i.e. Investors, Suppliers,
Shareholders, Customers, Government) with a view to increase the value of all of them.
28. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO.
Pursuant to the provisions of section 134 of the Companies Act, 2013
the details of conservation of energy, technology absorption, foreign exchange earnings
and outgo are as follows:
| Conservation of energy |
NIL |
| Technology absorption |
NIL |
| Foreign exchange earnings and |
NIL |
| Outgoing |
|
29. HUMAN RESOURCES
Your Company treats its "Human Resources" as one of its most
important assets. Your Company continuously invests in attraction, retention and
development of talent on an ongoing basis. 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.
30. DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to section 134(5) of the Companies Act, 2013, the Board of
Directors, to the best of their knowledge and ability, confirms 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. They 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. They 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. They had prepared the annual accounts on a going concern basis;
They had devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and operating
effectively.
31. TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND.
Pursuant to the provisions of the Investor Education Protection Fund
(IEPF) and the rules framed there under, your directors ensure that there was no
unpaid/unclaimed dividend declared and paid last year, the provisions of Section 125 of
the Companies Act, 2013 does not apply.
32. LISTING ON STOCK EXCHANGES.
The Equity Shares of the Company are listed in Bombay stock Exchange
Ltd. (BSE) & Calcutta Stock Exchange Limited (CSE) and necessary Listing Fees paid
upto date.
33. ACKNOWLEDGEMENT
Your Board would like to record its appreciation for the co operation
and support received from its employees, shareholders and all other stakeholders.
Your Board wishes to place on record its deep appreciation of the
Independent Directors and Non-Executive Directors of the Company for their great
contribution by way of strategic guidance, sharing of knowledge, experience and wisdom
which help your company to take the right decision in achieving its goals.
|
For and on Behalf of the Board of
Directors |
|
Sd/- |
Date: 29/05/2023 |
Vijay Kumar Jain |
Place: Kolkata |
(Chairman) |
Registered Office: |
|
| 23, Ganesh Chandra Avenue, |
|
| 3rd Floor |
|
| Kolkata-700013 |
|
PROFILE OF THE DIRECTOR BEING RE-APPOINTED
| Name of the Director |
Mrs. Smita Murarka |
| DIN |
7448865 |
| Designation |
Non-Executive Director |
| Date of Birth |
12/08/1982 |
| Date of Appointment |
11/03/2016 |
| Qualifications |
B.Com graduate, MBA |
| Name of the Company in which he holds |
CONSECUTIVE INVESTMENTS & |
| directorship |
TRADING CO LIMITED |
Name of the other Companies in which he NONE |
| holds chairman/ |
|
| Membership of Committees of Boards |
|
| Relationship with other Directors |
Sister of Managing Director |
Dated: 14th August, 2023
Registered Office: By order of the Board of Directors 23,
Ganesh Chandra Avenue, Sd/- Kolkata-700013 Nabin Kumar Samanta
West Bengal (Company secretary & Compliance Officer)
ANNEXURE-II FORM NO. MR-3 SECRETARIAL AUDIT REPORT FOR THE FINANCIAL
YEAR ENDED 31.03.2023
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of
the Companies (Appointment and Remuneration Personnel) Rules, 2014]
To
The Members
CONSECUTIVE INVESTMENTS & TRADING COMPANY LIMITED
23, Ganesh Chandra Avenue, 3rd Floor Kolkata 700013.
1. I have conducted the Secretarial Audit of the compliance of
applicable statutory provisions and the adherence to good corporate practices by M/s.
Consecutive Investments & Trading Company Limited [CIN: L67120WB1982PLC035452]
(hereinafter called the company). Secretarial Audit was conducted based on records made
available to me, in a manner that provided me a reasonable basis for evaluating the
corporate conducts/statutory compliances and expressing my opinion/understanding thereon.
2. Based on my verification of the Companys books, papers, minute
books, forms and returns filed and other records maintained by the Company and made
available to me and also the information provided by the Company, its officers, agents and
authorized representatives during the conduct of secretarial audit, I, on strength of
those records, and information so provided, hereby report that in my opinion and
understandings, the Company has, during the audit period covering the financial year ended
on March31, 2023, appears to have complied with the statutory provisions listed hereunder
and also in my limited review, that the Company has proper and required Board-processes
and compliance-mechanism in place to the extent, in the manner and subject to the
reporting made hereinafter.
I have examined the books, papers, minutes book, forms and
returns filed and other records maintained by the Company and made available to me, for
the financial year ended on March 31, 2023 according to the applicable provisions of:
i. The Companies Act, 2013 (the Act) and the rules made there under ii.
The Securities Contracts (Regulation) Act, 1956(‘SCRA) and the rules made there
under; iii. The Depositories Act, 1996 and the Regulations and Bye-laws framed there
under; iv. Applicable provisions of Foreign Exchange Management Act, 1999 and the Rules
and
Regulations made there under. - Not applicable since the company does
not have any overseas transactions during the year. v. The following Regulations and
Guidelines prescribed under the Securities and
Exchange Board of India Act, 1992 (‘SEBI ACT): - a. The
Securities and Exchange Board of India (Substantial Acquisition of Shares and
Takeovers) Regulations, 2011; b. The Securities and Exchange Board of
India (Prohibition of Insider Trading)
Regulations,2015; c. The Securities and Exchange Board of India (Issue
of Capital and Disclosures
Requirements) Regulations, 2009; Not Applicable as the Company did not
issue any security during the financial year under review. d. The Securities and Exchange
Board of India (Employee Stock Option Scheme and
Employee Stock Purchase Scheme) Guidelines, 1999/ Securities and
Exchange Board of India (Share Based Employee Benefits) Regulations 2014; - Not Applicable
as the Company does not have Employee Stock Option Scheme for its employees; e. The
Securities and Exchange Board of India (Issue and Listing of Debt Securities)
Regulations, 2008; Not applicable as the Company has not issued any
debt securities during the financial year under review; f. The Securities and Exchange
Board of India (Registrars to an Issue and Share
Transfer gents) Regulations, 1993 regarding the Companies Act and
dealing with client to the extent of securities issued. g. The Securities and Exchange
Board of India (Delisting of Equity Shares)
Regulations,2009; Not applicable as the Company has not delisted its
equity shares from any stock exchange during the financial year under review; and h. The
Securities and Exchange Board of India (Buyback of Securities) Regulations,
1998; - Not Applicable as the Company has not done any buyback of its
securities during the financial year under review. i. The Securities and Exchange Board of
India (Listing Obligation and Disclosure
Requirement) Regulations, 2015 as amended till date. vi. Other Laws
specifically applicable to the Company as under:
I have also examined compliance with the applicable clauses of the
following: Secretarial Standards issued by The Institute of Company Secretaries of India;
The Listing Regulations/Agreements entered into by the Company with
Bombay Stock Exchange Limited and Calcutta Stock Exchange Limited pursuant to the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015;
During the period under review the Company has complied with the
provisions of the Act, Rules, Regulations, Guidelines, Standards etc. mentioned above.
I further report that:
The Board of Directors of the Company is duly constituted with proper
balance of Executive Directors, Non-Executive Directors and Independent Directors. There
is no change in the composition of the Board of Directors during the period under review.
Adequate notice is given to all Directors to schedule the Board
Meetings. Agenda and detailed notes on agenda were sent at least seven days in advance,
and a system exists for seeking and obtaining further information and clarifications on
the agenda items before the meeting and for meaningful participation at the meeting.
There were no dissenting views on any decisions of the Board, as
recorded in the Minutes of Board meetings.
I further report that based on review of compliance mechanism
established by the Company and on the basis of the Compliance Certificate(s) issued by the
Company Secretary and taken on record by the Board of Directors at their meeting(s), I am
of the opinion that the management has adequate systems and processes commensurate with
its size and operations, to monitor and ensure compliance with all applicable laws, rules,
regulations and guidelines; and
There are no other specific events/actions in pursuance of the above
referred laws, rules, regulations guidelines etc., having a major bearing on the
Companys Affairs.
I further report that during the audit period there were no instances
of:
j. Public/Right/Preferential issue of shares / debentures/sweat equity;
ii. Redemption / buy-back of securities; iii. Foreign technical collaborations.
I further report that my Audit is subjected only to verifying adequacy
of systems and procedures that are in place for ensuring proper compliance by the Company
and I am not responsible for any lapses in those compliances on the part of the Company.
|
Anurag Fatehpuria |
Place: KOLKATA |
Company Secretary |
Date: 16.08.2023 |
Membership No 34471 |
|
Cop No 12855 |
|
P.R CERTIFICATE NO: 3367/2023 |
|
UDIN: A034471E000797387 |
Annexure A
To
The Members,
CONSECUTIVE INVESTMENTS & TRADING COMPANY LIMITED
23, Ganesh Chandra Avenue, 3rd Floor Kolkata 700013.
Our report of even date it to be read along with this supplementary
testimony.
1. Maintenance of secretarial record is the responsibility of the
management of the Company. My responsibility is to express an opinion on these secretarial
records based on my audit.
2. I have followed the audit practices and process as were appropriate
to obtain reasonable assurance about the correctness of the contents of the secretarial
records. The verification was done on test basis to ensure that correct facts are
reflected in secretarial records. I believe that the processes and practices, I followed
provides a reasonable basis for my opinion.
3. I have not verified the correctness and appropriateness of financial
records and Books of Accounts of the Company.
4. Where ever required, I have obtained the Management representation
about the compliance of laws, rules and regulations and happening of events etc.
5. The compliance of the provisions of Corporate and other applicable
laws, rules, regulations, standards is the responsibility of the management. My
examination was limited to the verification of procedures on test basis.
6. The Secretarial Audit Report is neither an assurance as to the
future viability of the Company nor of the efficacy or effectiveness with which the
management has conducted the affairs of the Company.
7. I further report that, based on the information provided by the
Company, its officers, and authorized representatives during the conduct of the audit and
also on the review of quarterly compliance report issued by the respective departmental
heads/ Company Secretary/Managing Director & CEO, and taken on record by the Board of
the Company, in my opinion adequate systems and process and control mechanism exist in the
Company to monitor compliance with applicable general laws like Labour Laws &
Environment Laws.
8. I further report that the Compliance by the Company of applicable
Financial Laws like Direct & Indirect Tax Laws has not been reviewed in this audit
since the same has been subject to review by the statutory financial auditor and other
designated professionals.
|
Anurag Fatehpuria |
|
Company Secretary |
Place: Kolkata |
Membership No 34471 |
Date: 16.08.2023 |
Cop No 12855 |
|
P.R CERTIFICATE NO: 3367/2023 |
|
UDIN: A034471E000797387 |
ANNEXURE - III
Particulars of contracts/arrangements made with related parties
(pursuant to Clause (h) of sub-section (3) of Section 134 of the Companies Act, 2013 and
Rule 8(2) of the Companies (Accounts) Rules 2014 AOC (2)
The form pertains to the disclosure of particulars of
contracts/arrangements/transactions entered into by the Company with related parties
referred to in sub-section (1) of Section 189 of the Companies Act, 2013 including certain
arms length transactions under third proviso thereto. Details of contracts or
arrangements or transactions not at arms length basis.
The contracts or arrangements or transactions entered into during the
year ended March 31, 2023 which were not at arms length basis is NIL.
Details of contracts or arrangement or transactions at arms length
basis.
The details of material contracts or arrangement or transactions at
arms length basis for the year ended March 31, 2023 is NIL
B. TRANSACTIONS WITH RELATED PARTIES; |
31-March 2023 |
31-March 2022 |
|
(Rupees in Hundred) |
Contribution |
|
|
| Big Shop |
- |
- |
Withdrawal |
|
|
| Big Shop |
6,500.00 |
7,000.00 |
Share in profit of partnership firm |
|
|
| Big Shop |
20,722.00 |
16,868.00 |
Reimbursement of expenses |
|
|
| P.S. Synthetics (p) Ltd |
- |
- |
Reimbursement of KMP |
|
|
| Nabin Kumar Samanta |
1,490.00 |
1,440.00 |
C. BALANCE OUTSTANDING AT THE YEAR END |
|
|
Investment in equity share |
|
|
| Mod Mind Consultancy (p) Ltd |
- |
- |
Investment in partnership firm |
|
|
| Big Shop |
4,76,211.18 |
4,51,989.18 |
Trade Payables |
|
|
| P.S. Synthetics (P) Ltd |
- |
- |
| Maheshwari Datamatics Pvt. Ltd. |
- |
17.70 |
Trade Receivable |
|
|
| P.S. Synthetics (P) Ltd |
970.12 |
1,688.23 |
+91-9892691696
