Dear Members,
The Directors are pleased to present the Hundred and Twelfth (112th)
Annual Report of the Company together with Standalone Audited Financial Statements of the
Company for the financial year ended on March 31, 2023.
1. Financial Results
The summarized Financial position of the Company are given in the table
below:
(Rs in Lakhs)
| Particulars |
Standalone |
|
FY 2022-23 |
FY 2021-22 |
| Revenue from Operations |
7629.14 |
7517.24 |
| Profit before taxation |
(322.82) |
838.16 |
| Tax Expense |
(72.68) |
105.84 |
| Profit for the year |
(250.14) |
732.32 |
| Other Comprehensive Income (Net of Tax) |
(33.01) |
70.29 |
| Total Comprehensive Income |
(283.15) |
802.61 |
| Other Equity at year end |
6004.11 |
6396.35 |
Note: The above figures are extracted from the Standalone Financial
Statements prepared under IND AS (Indian Accounting Standards) for the Financial Year
ended on 31st March, 2023 and 31st March, 2022.
2. REVIEW OF PERFORMANCE
The year under review was extremely challenging from every front
starting from natural vagaries in form of draught in initial part of the year followed by
incessant rains in the month of June followed by severe pest infestation damaging crop for
the entire year. In addition to that cost of major inputs like coal, chemicals and
fertilizers shot up drastically having a major impact on overall economy of the Tea
Estates. Over and above that wage increase of 30/- was final nail in the coffin for the
tea industry. Overall market conditions continued to be sluggish however price
differential between quality and non-quality gardens continue to widen. With our cautious
approach towards quality making our average price realization for the year was higher by
10/- which went up to 245/- when compared to 235/- last year.
Due to inclement weather conditions followed by excessive pest attack
throughout the season our own production was low at 30,23,748 kgs when compared to
32,34,042 kgs last year.
The only grace during the year was that our average price realization
was higher than last year in spite of lower average price realization of the district.
Your company could not overcome the challenge posed by extremely high cost scenario
coupled with lower crop. As such the company posted a loss of 250.14 crore against
profit of & 732.32 crore last year.
3. PROSPECTS
Current year looks equally challenging for the tea industry as cost of
production continues to spiral upwards in form of higher wages (which has been increased
again from 232/- to 250/-) by Government of West Bengal, together with other cost of
inputs.
Market sentiments are drifting down due to oversupply situation
majority of which is coming from unorganized sector and average price realization
continues to be under severe pressure. Orthodox tea has seen major price corrections due
to Iran payment crisis compelling producers to produce more CTC thus increasing the
availability of the same in the Indian Market. This has further dampened market
sentiments. However, demand for quality tea and widening price gap between quality and
non-quality tea continues to be there.
Inspite of severe headwinds of high cost coupled with challenging
market conditions your company is hopeful of passing this turbulent phase with the backing
of our high yielding gardens and over all focus on producing better quality of tea.
4. CHANGE IN NATURE OF BUSINESS, IF ANY
There has been no change in the nature of business and the Company
continues to concentrate on their own business.
5. TRANSFER TO RESERVES
The Directors transferred 250.00 Lakhs out of General Reserves to
retained earnings to meet up the deficit.
6. DIVIDEND
Due to making loss during the financial year, the Board of
Directors have not recommended any dividend for the Financial Year 2022-23.
7. DETAILS OF BOARD MEETINGS
During the Financial Year, Four (4) Board meetings were held,
details of which are given below:
| Date of the meeting |
No. of Directors attended the meeting |
| 27.05.2022 |
5 |
| 10.08.2022 |
5 |
| 11.11.2022 |
4 |
| 10.02.2023 |
4 |
8. SHARE CAPITAL
During the financial year ended 31st March, 2023 there has been no
change in the issued and subscribed capital of the Company. The Issued, Subscribed &
paid up Share capital as on 31st March, 2023 is 749.55 Lakhs comprising of 1,49,91,000
equity shares of 5/- each.
9. EXTRACT OF ANNUAL RETURN ee
In accordance with the Companies Act, 2013, the annual return in the
prescribed format can be accessed at https://www.dianatea.in/finance.shtml
10. COMMITTEES OF BOARD
The details of composition of the Committees of the Board of Directors
are as under:-
a. Audit Committee
| Sl. No. Name |
Chairman/ Members |
| 1. Mr. H.M. Parekh |
Chairman |
| 2. Mr. SandeepSinghania |
Member |
| 3. Mr. Gautam Bhalla |
Member |
| 4. Mr. Kiran Nanoo Desai |
Member |
The Terms of Reference of the Audit Committee has been provided in the
Corporate Governance Section forming part of this Report. During the financial year, the
Committee had met 4 times as on 27th May, 2022, 10th August, 2022, 11th November, 2022 and
10th February, 2023.
Recommendation by audit committee:
There was no such recommendation of audit committee which has not been
accepted by the Board during the said financial year.
Vigil Mechanism/ Whistle Blower Policy
The Company has formulated the codified Vigil Mechanism/Whistle Blower
Policy incorporating the provisions relating the Vigil Mechanism in terms of Section
177(9) & (10) of the Companies Act, 2013 and Regulation 22 of SEBI (Listing Obligation
& Disclosure Requirements) Regulations , 2015 and SEBI (Prohibition of Insider
Trading) (Amendment) Regulations, 2018 , in order to encourage Directors and Employees of
the Company to escalate to the level of the Audit Committee any issues of concern
impacting and compromising with the interest of the Company and the Stakeholders in any
way and to prevent leak of Unpublished Price Sensitive Information The Company has also
made provisions for adequate safeguards against victimization of its employees and
Directors who express their concerns.
The Chairman of Audit Committee can be accessed directly by any
employee for reporting issues which need to be brought to the notice of the Board. The
Vigil Mechanism / Whistle Blower Policy of the Company has been uploaded on the website of
the Company chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/ https://www.dianatea.in/20190301_Whistle_Blower.
pdf b. Nomination & Remuneration
| Sl. No. Name |
Chairman/ Members |
| 1. Mr. H.M Parekh |
Chairman |
| 2. Mr. Gautam Bhalla |
Member |
| 3. Mr. Kiran Nanoo Desai |
Member |
• The Terms of Reference of the Committee has been provided in the
Corporate Governance Section forming part of this Report. During the financial year, the
Committee had met 3 times on 10th August, 2022, 11th November 2022 and 10th February,
2023.
c. StakeholdersRelationship Committee
| Sl. No. Name |
Chairman/Members |
| 1. Mr. Gautam Bhalla |
Chairman |
| 2. Mr. Sandeep Singhania |
Member |
| 3. Mrs. Sarita Singhania |
Member |
| 4. Mr. Kiran Nanoo Desai |
Member |
The Terms of Reference of the Committee has been provided in the
Corporate Governance Section forming part of this Report. During the financial year, the
Committee had met 5times on 27th May, 2022, 10th August, 2022, 11th November 2022, 24th
November, 2022 and 10th February, 2023.
11. MANAGEMENT DISCUSSION AND ANALYSIS
As per SEBI (Listing Obligations & Disclosure Requirements)
Regulations 2015, Management Discussion and Analysis Report is attached as
Annexure "A" forming part of this report.
12. CORPORATE SOCIAL RESPONSIBILITY (CSR)
The Company considers Corporate Social Responsibility as an important
aspect of doing business. As a good corporate citizen, the Company initiated appropriate
action towards various social causes as soon as the provision become applicable to the
Company during the Financial Year 2022-2023.
Pursuant to MCA Notification dated 28.09.2020, where the amount to be
spent by a company under section 135(5) of the Companies Act 2013 does not exceed fifty
lakh rupees, the requirement under section 135(1) of the Companies Act 2013 for
constitution of the Corporate Social Responsibility Committee shall not be applicable and
the functions of such Committee provided under this section shall, in such cases, be
discharged by the Board of Directors of such company. Accordingly the said function is
discharged by the Board of Directors of the Company. The Corporate Social Responsibility
Policy of the Company as adopted by the Board of Directors is available on Companys
websites https://www.dianatea.in/20220802_CSR-Policy-
DTCL-2021.pdf
During the year ended 31st March, 2023, your Company has spent 9.98
Lakhs on various CSR activities as defined under schedule VII of the Companies Act 2013.
The Report on Corporate Social Responsibility (CSR) Activities / Initiatives is attached
as Annexure "B" forming part of this report.
13. DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the provisions of clause (c) of sub-section (3) and
sub-section (5) of Section 134 of the Act, the Board of Directors of the Company hereby
confirm that:
i) in the preparation of the annual accounts, for the financial year
ended 31st March, 2023, the applicable accounting standards had been followed along with
proper explanation relating to material departures except gratuity liability being
accounted for, as and when paid/payable;
ii) we have selected such accounting policies and applied 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, 2023 and of the profit of
the Company for the year ended on March 31, 2023;
iii) we 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 preventing for and detecting fraud and other irregularities;
iv) we have prepared the annual accounts for the financial year ended
on March 31, 2023 on a going concern basis;
v) we have laid down internal financial controls and the same have been
followed by the Company and that such internal financial controls are adequate and were
operating effectively; and
vi) we have devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and operating
effectively.
14. CORPORATE GOVERNANCE
The Company attaches considerable significance to good Corporate
Governance as an important step towards building investor confidence, improving
investors protection and maximizing long term shareholders value. The certificate of
the Auditors confirming compliance of conditions of Corporate Governance as stipulated
under Regulation 34 read with Schedule V(E) of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015 of the Stock Exchange
is annexed as Annexure "C".
15. RELATED PARTY TRANSACTIONS
The related party transactions entered during the year were in ordinary
course of business and also on arms length basis in compliance with the applicable
provisions of the Companies Act, 2013 and SEBI Listing Regulations, 2015. There are no
materially significant related party transactions made by the Company with Promoters,
Directors or Key Managerial Personnel etc. which may have potential conflict of the
interest with the Company at large. All related party transactions are presented to the
Audit Committee and the Board, if required, for approval. Omnibus approval is obtained for
the transactions which are foreseen and repetitive in nature. The Revised Policy on
Related Party Transactions as approved by the Board is uploaded on the Companys web
link: https://www.dianatea. in/20220222_RPT_Policy_2022.pdf.
16. DETAILS OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN
EXCHANGE EARNINGS AND OUTGO
The particulars as prescribed under sub-section (3)(m) of the Section
134 of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules,
2014, are given at Annexure "D" to the Directors Report.
17. PARTICULARS OF EMPLOYEES
The ratio of the remuneration of each Director to the median
employees remuneration and other particulars or details of employees pursuant to
Section 197(12) of the Companies Act, 2013 read with Rule 5(1)of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended are attached
to this Report as Annexure "E".
The details of employees prescribed under Rule 5(2) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 forms part of this
report.
There were no directors who is in receipt of any commission from the
company as well as from its holding company as per section 197 (14) of the Companies Act,
2013.
18. ANNUAL EVALUATION OF BOARDS PERFORMANCE
During the financial year, the Board evaluated its own performance as
well as that of its Committees and individual Directors. The exercise was carried out
covering various aspects of the Boards functioning such as composition of the Board &
committees, qualification, experience & competencies, performance of specific duties
& obligations, governance issues etc. Separate exercise was carried out to evaluate
the performance of Non-Independent Directors. The performance of Independent Directors has
been evaluated based on the guidelines as provided under Schedule IV of the Act. The
evaluation of the Independent Directors was carried out by the entire Board except by the
Director being evaluated. The directors were satisfied with the evaluation results, which
reflected the overall engagement of the Board and its Committees with the Company.
19. AUDITORS
Statutory Audit
M/s. B. Nath & Co., Chartered Accountants having registration
number FRN No. 307057E were appointed as statutory Auditors of the Company in the 107th
Annual General Meeting to hold office for a term of 5(Five) years from the conclusion of
107th Annual General Meeting till the conclusion of the 112th Annual General Meeting.
Therefore, their tenure expires this ensuing AGM. The Board proposes to re-appoint M/s.
B. Nath & Co. as the Statutory Auditors of the Company, subject to
approval of the shareholders at the ensuing AGM, for a second term of five years to hold
office from the conclusion of 112th Annual General Meeting till the conclusion of 117th
Annual General Meeting on such remuneration plus taxes and reimbursement of out of pocket
expenses as may be incurred by them in connection with audit of accounts of the Company,
as may be mutually agreed upon between the Board of Directors and the Statutory Auditors.
The Statutory Auditors hold a valid peer review certificate as prescribed under Regulation
33(1)(d) of SEBI Listing Regulations, 2015.
Further, the report of the Auditors along with notes to Schedules is
enclosed to this report. The Company is in the regime of unmodified opinions on financial
statements. Further, the Statutory Auditors have not reported any incident of fraud during
the year under review to the Audit Committee of your Company.
Secretarial Audit
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. MR & Associates, a firm of Company Secretaries in Practice,
to undertake the Secretarial Audit of the Company for the financial year ending 31st
March, 2023. The Secretarial Audit Report for the financial year ended 31st March, 2023 is
annexed herewith as Annexure "F" to this Report.
The Secretarial Audit Report is self-explanatory and does not contain
any adverse qualification, reservation or remark except that they mentioned that the
company is non-compliant regarding provision of listing of equity shares listed with the
Calcutta Stock Exchange (CSE) and payment of listing fee to CSE as the company is
suspended from trading in CSE. Regarding this the management response is that the company
had applied for voluntarily delisting with the approval of shareholder in the year 2004.
However, no response has been received from the Calcutta Stock Exchange since then. The
company is regularly following up for completion of the delisting process and will pay the
amount of the listing fee.
Cost Audit
As per Section 148 of the Companies Act 2013 read with Rule 4 of
Companies (Cost Records and Audit) Rules, 2014, the Company is required to maintain cost
records for the financial year 2022-2023 and accordingly such accounts and records are
made and maintained. However the Company is not required to appoint Cost Auditor to
conduct the audit of cost records for the financial year 2022-2023.
20. HUMAN RESOURCES
The Company treats its "human resources" as one of its most
important assets.
The Company has a large work force employed at the tea estates. There
were no major disruptions of work at the garden or any other establishment of the Company
during the period under review. The correct recruitment practices are in place to attract
best talent. Industrial Relations at all the units remained satisfactory.
21. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL
POSITION
No material changes and commitments have occurred during the financial
year 2022-2023 which might affect the financial position of the company.
22. DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013
The Company is committed to provide a work environment which ensures
that every woman employee is treated with dignity, respect and equality. There is
zero-tolerance towards sexual harassment and any act of sexual harassment invites serious
disciplinary action.The Company has adopted a policy in line with the provisions of the
Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013
and the Rules made thereunder.
The Company hereby declares that it has complied with provisions
relating to the constitution of Internal Complaints Committee of Woman at Workplace
(Prevention, Prohibition and Redressal) Act, 2013. No complaint has been brought to the
notice of the Management during the financial year ended on 31st March, 2023.
23. RISK MANAGEMENT
In terms of the requirement of the Companies Act, 2013 and SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has
developed and implemented the Risk Management Policy. The Company has taken adequate
measures to mitigate various risk encountered. In the opinion of the Board there is no
such risk which may threaten the present existence of the Company
24. DECLARATION BY INDEPENDENT DIRECTORS
Necessary declarations have been obtained from all the Independent
Directors 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 SEBI (Listing and Disclosure
Requirements) Regulations, 2015 (including any statutory modification(s) or
re-enactment(s) thereof for the time being in force).
25. REMUNERATION POLICY
The remuneration policy of the Company aims to attract, retain and
motivate qualified people at the Board levels. The remuneration policy seeks to employ
people who not only fulfill the eligibility criteria but also have the attributes needed
to fit into the corporate culture of the company.The remuneration policy is consistent
with the ‘pay-for-performance principle. The Company has formulated Criteria
for making payment to Non Executive Directors which is available in Companys
weblink: https://www.dianatea.in/Criteria%20of%20making%20payment%20to%20 non-
20directors_6.pdf
Non-Executive
The Nomination and Remuneration Committee takes into account
experience, and prevailing industry practices before giving its recommendation to the
Board. On recommendation of the Nomination and Remuneration Committee, the Board decides
remuneration to be paid to Executive Directors, subject to approval of shareholders in
terms of provisions of the Companies Act, 2013, read with Schedule V thereof. The
Committee aims towards rewarding, on the basis of performance and reviews on a periodical
basis.
The Company has formulated Criteria for making payment to Non Executive
Directors which is available in Companys weblink :
https://www.dianatea.in/Criteria%20of%20making%20payment%20to%20
executiv non- 20directors_6.pdf .
As per the criteria, Non-Executive Directors are paid sitting fees for
attending the meetings of the Board of Directors and Committees.
26. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE
REGULATORS/ COURTS/ TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND THE COMPANYS
OPERATIONS IN FUTURE.
There were no significant and material orders passed by the regulators
or courts or tribunals that would impact the Going concern Status and or will have any
bearing on Companys Operations in future. Details of contingent liabilities and
commitments (to the extent not provided for) are disclosed in Notes to the financial
statements for the financial year ended 31st March, 2023.
27. TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND
The Company has, subsequent to year end, transferred a sum of 71,233
/- to Investor Education and Protection Fund, in compliance with the provisions of Section
124, 125 and other applicable provisions of the Companies Act, 2013 read with Investor
Education and Protection Fund Authority (Accounting, Audit,Transfer and Refund) Rules,
2016. However, due to some technical glitch in the MCA portal the approval of the form
filed is still pending for approval and the payment of the same has been made.
The said amount represents dividend for the year 2013 which remain
unclaimed for a period of 7 years from its due date of payment. The details of unpaid
dividend and shares transferred to the IEPF are available at the following websites: (http://www.dianatea.in/IEPF.
shtml)
28. INTERNAL FINANCIAL CONTROLS SYSTEMS WITH REFERENCE TO THE FINANCIAL
STATEMENT
The Company has adequate Internal Financial Control System at all
levels of Management and they are reviewed from time to time. The Internal Audit is
carried out in house as well as by firm of Chartered Accountants. The Audit Committee of
the Board looks into Auditors review which is deliberated upon and corrective action
taken, wherever required.
29. SUBSIDIARIES, JOINT VENTURE OR ASSOCIATE COMPANIES
The Company continues to be the Subsidiary of Diana Capital Limited.
Further, the Company has no subsidiary, joint venture and associates for the financial
year ended 31st March, 2023 therefore, the Statement in Form AOC-1 containing the salient
features of the financial statement of the Companys subsidiaries pursuant to first
proviso to Section 129(3) of the Companies Act, 2013 (Act) read with Rule 5 of the
Companies (Accounts) Rules, 2014, forms part of the Annual Report, is not applicable to
the company during the financial year.
30. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS
The particulars of loans, guarantees or investments made under section
186 of the Companies Act 2013 are covered in the notes to accounts of the Financial
Statement for the year ended 31st March, 2023 forming part of this Annual Report.
31. DIRECTORS & KEY MANAGERIAL PERSONNEL
Directors
As per provisions of Section 152 of the Companies Act, 2013 read with
Companies (Appointment and Qualifications of Directors) Rules, 2014, Mr. Sandeep Singhania
(DIN 00343837) is liable to retire by rotation at the forthcoming Annual General Meeting
and being eligible, offers himself for re-appointment. The Board recommends him
re-appointment as a Director liable to retire by rotation.
Pursuant to regulation 36 of SEBI (LODR) Regulation 2015, a brief
resume / details relating to Directors who are proposed to be appointed/re-appointed and
the details of the director liable to retire by rotation is furnished in the Notice of the
ensuing Annual General Meeting (AGM) of the Company.
The Independent Directors have confirmed that they have registered
their names in the data bank maintained with The Indian Institute of Corporate Affairs
(‘IICA). In terms of Section 150 of the Act read with Rule 6(4) of the
Companies (Appointment & Qualification of Directors) Rules, 2014, the Independent
Directors are required to undertake online proficiency self-assessment test conducted by
the IICA within a period of two year from the date of inclusion of their names in the data
bank. All the Independent Director of the
Company to whom the provisions of proficiency test is applicable, shall
undertake the said online proficiency self-assessment test in due course within the time
limit prescribed under the said rule.
The Board of Directors of the Company is of the opinion that the
Independent Director appointed during the year under review possess the requisite
expertise and experience (including proficiency) and are the persons of high integrity and
repute. They fulfill the conditions specified in the Companies Act, 2013 and the Rules
made thereunder and are independent of the management.
Key Managerial Personnel
Pursuant to the provisions of sub-section (51) of Section 2 and Section
203 of the Act read with the Rules framed thereunder, the following persons are the Key
Managerial Personnel of the Company as on March 31, 2023:
1. Mr. Sandeep Singhania, Managing Director;
2. Mrs. Sarita Singhania, Whole-Time Director and Chief Financial
Officer (appointed as CFO w.e.f 29.05.2023);
3. Mr. Ramesh Kumar Jhunjhunwala, Chief Financial Officer (appointed on
10.08.2022 and resigned on 11.11.2022 as compliance officer and resigned as CFO w.e.f.
10th February, 2023)
4. Mrs. Anushree Biswas, Company Secretary (resigned w.e.f. 10th
August, 2022)
5. Ms. Kriti Jain, Company Secretary cum Compliance officer (appointed
w.e.f. 11.11.2022 resigned w.e.f. 30.06.2023)
During the year under review, the changes made in the Key Managerial
Personnel of the Company were duly complied as per the provision of the Companies Act,
2013.
32. DEPOSITS
The Company has not accepted any deposits within the meaning of
sub-section (31) of Section 2 and Section 73 of the Companies Act, 2013 ("the
Act") and the Rules framed thereunder. As on March 31, 2023, there were no deposits
lying unpaid or unclaimed.
33. BUSINESS RESPONSIBILITY & SUSTAINABILITY REPORT
Regulation 34(2)(f) of the Securities and Exchange Obligations Board of
India (Listing and Disclosure Requirements) Regulations, 2015 was not applicable to the
Company during the year under review, based on the market capitalization.
34. CREDIT RATING
CRISIL has assigned the Credit rating of "BBB-/ Stable" and
"A3" respectively to the Company for the working capital and term loan
facilities availed by the Company. There has been no/ revision in the credit rating during
the year under review.
35. INSOLVENCY AND BANKRUPTCY CODE, 2016
No application or proceeding was made or pending against the Company
under the Insolvency and Bankruptcy Code, 2016 during the year under review.
36. VARIATION IN VALUATION
During the year under review, there was no instance of one-time
settlement with any bank or financial institution necessitating disclosure or reporting in
respect of difference in valuation done by the Company.
37. COMPLIANCE OF SECRETARIAL STANDARDS
The Company complies with all applicable Secretarial Standards as
mandated by the Institute of Company Secretaries of India.
38. ACKNOWLEDGEMENT
The Directors take this opportunity to thank the Central and State
Government Departments, Organizations and Agencies for their continued support and
co-operation. The Directors are also thankful to all valuable stakeholders viz.,
customers, vendors, suppliers, banks, financial institutions, joint venture partners and
other business associates for their continued co-operation and excellent support provided
to the Company during the year. The Directors acknowledge the unstinted commitment and
valuable contribution of all employees of the Company. The Directors also appreciate and
value the trust reposed in them by Members of the Company.
|
For and on behalf of the Board |
|
| Registered Office : |
Sd/- |
Sd/- |
| 3B, Lalbazar Street |
Sandeep Singhania |
Sarita Singhania |
| Kolkata - 700 001 |
Managing Director |
(Whole-time Director) |
| Date : 10th August, 2023 |
(DIN: 00343837) |
(DIN: 00343786) |
+91-9892691696
