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Eldeco Housing and Industries Limited
Your Directors have pleasure in presenting the 33rd Annual Report of your Company together with the Audited Financial Statements for the financial year ended 31st March, 2018.
The summarized financial results for the year ended 31st March, 2018 and for the previous year ended 31st March, 2017 are as follows:
|(Rs. in Lacs)|
|31st March, 2018||31st March, 2017||31st March, 2018||31st March 2017|
|1) Revenue from operations||7435.48||7270.28||10898.30||16908.95|
|2 ) Other Income||352.76||157.06||465.02||540.73|
|1) Cost of material consumed, construction and other related project cost||5646.92||3031.79||8005.05||10732.08|
|2) Changes in inventories of finished goods, project in progress||(2315.10)||1474.14||(2110.94)||1248.05|
|3) Employee benefit Expense||414.43||313.82||455.16||414.16|
|4) Finance cost||170.84||558.16||196.86||301.59|
|5) Depreciation and amortization expense||24.44||36.05||27.10||50.54|
|6) Other expenses||1065.65||604.86||1133.97||1009.50|
|Profit before Tax (PBT)||2781.05||1408.52||3656.12||3693.76|
|1) Current tax||961.51||479.44||1205.95||1275.87|
|2) Deferred tax||(77.85)||19.40||(80.41)||17.44|
|3) Earlier year Taxes||-||-||(4.32)||29.15|
|Total Tax Expenses||883.66||498.84||1121.23||1322.46|
|Profit after Tax||1897.39||909.68||2534.89||2371.30|
|Total Other comprehensive income||0.35||0.55||0.35||0.55|
|Total comprehensive income for the year||1897.75||910.24||2535.24||2371.85|
STATE OF COMPANYS AFFAIRS
During the year under review, your Company recorded on consolidated basis total revenue of Rs. 11363.32 lacs including other income of Rs. 465.02 lacs as against total revenue of Rs. 17449.67 lacs including other income of Rs. 540.73 lacs of the previous financial year ended 31st March, 2017.There is a growth in the profit for the year ended 31st March, 2018 amounting to Rs. 2535.24 lacs as compared to the previous financial year profit ended 31st March, 2017 amounting to Rs. 2371.85 lacs. Further, your Company recorded on Standalone basis total revenue of Rs. 7788.24 lacs including other income of Rs. 352.76 lacs as against total revenue of Rs. 7427.34 lacs including other income of Rs. 157.06 lacs of the previous financial year ended 31st March, 2017. There is a growth in the profit for the year ended 31st March, 2018 at Rs. 1897.75 lacs as compared to the financial year profit ended 31st March, 2017 at Rs. 910.24 lacs.
The operational performance of the Company has been comprehensively covered in the Management Discussion and Analysis Report.
Pursuant to the provisions of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) 2015, the Board has carried out the annual performance evaluation of its own performance, the directors individually as well as the evaluation of its committees. The performance of the Board was evaluated by the Board after seeking inputs from all the directors on the basis of criteria, such as, board composition and quality, understanding business and risks, effectiveness of board processes and procedures, oversight of financial reporting process including internal controls and audit functions, ethics and compliance and monitoring activities, etc.
The performance of the committees were evaluated by the Board after seeking inputs from the committee members on the basis of criteria, such as, composition of committee, effectiveness of committee meetings, etc.
The performance of individual directors was evaluated on parameters as defined by the Board and the Nomination and Remuneration Committee, inter-alia, such as regularity, preparatory, participation at the Board meetings, timely execution of action items, recommendations and their periodic update to the Board, effective and successful relationships and communication with fellow Board members and senior management quality and value of their contributions at Board Meetings, adherence to the Companys policies and resolutions, devoting time and efforts to understand the company and its business etc.
In a separate meeting of Independent Directors, the performance of Non- Independent Directors, performance of Board as a whole and the performance of Chairman was evaluated, taking into account views of Executive and Non- executive Directors. Performance evaluation of Independent Directors was carried out by the entire Board, excluding the respective Independent Director being evaluated.
MATERIAL CHANGES AND COMMITMENT
Except as disclosed elsewhere in this report, no material changes and commitments affecting the financial position of the Company have occurred between the end of the financial year of the Company to which the Financial Statements relate and the date of this report.
Your Directors in its meeting held on 25th May, 2018 have recommended a final dividend at the rate of Rs. 12.50 per equity share, i.e 125% of the paid up Equity Share Capital for the financial year ended March 31, 2018 (previous year Rs. 12.50 per equity share, i.e 125% of the paid up Equity Share Capital). The recommendation is subject to the approval of shareholders at the ensuing Annual General Meeting (AGM) to be held on 28th September, 2018.
The dividend shall be paid to members whose names appear in the Register of Members as on 21st September, 2018 and in respect of shares held in dematerialized form, it shall be paid to members whose names are furnished by National Securities Depository Limited and Central Depository Services (India) Limited, as beneficial owners as on that date.
TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND (IEPF)
Pursuant to Section 124 of the Companies Act, 2013 read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (" the Rules"), all unpaid or unclaimed dividends are required to be transferred by the Company to the IEPF established by the Central Government, after the completion of seven years. Further, according to the Rules, the shares in respect of which dividend has not been paid or claimed by the shareholders for seven consecutive years or more shall also be transferred to the demat account created by the IEPF Authority. Accordingly, the Company has transferred the unclaimed and unpaid dividends. Further, the corresponding shares have also been transferred as per the requirements of the IEPF rules.
FRAUDS REPORTED UNDER SUB SECTION 12 OF SECTION 143 BY THE AUDITOR
During the year under review, no frauds under section 143(12) of the Companies Act, 2013 were reported to the Board by the Auditor.
CHANGE IN THE NATURE OF BUSINESS
During the year under review, there were no changes in the nature of business of the Company.
TRANSFER TO RESERVES
It is not proposed to transfer any amount to reserves during the financial year 2017-2018.
STATEMENT INDICATING DEVELOPMENT AND IMPLEMENTATION OF A RISK MANAGEMENT POLICY FOR THE COMPANY INCLUDING IDENTIFICATION THEREIN OF ELEMENTS OF RISK, IF ANY, WHICH IN THE OPINION OF THE BOARD MAY THREATEN THE EXISTENCE OF THE COMPANY
The Board of the Company has taken all necessary steps for identifying the potential risks of your Company and their mitigation plans. The Board of Directors reviews the business plan at regular intervals for proper identification, analysis and mitigation of all material risks, both internal and external.
DISCLOSURES U/S 197(12) OF THE COMPANIES ACT, 2013 WITH RESPECT TO RATIO OF THE
REMUNERATION OF EACH DIRECTOR TO THE MEDIAN EMPLOYEES REMUNERATION
During the year under review, directors have not been paid remuneration except for the sitting fees to the Non-executive directors; therefore, it was not possible to determine the ratio of the remuneration of each Director to the median employees remuneration.
The paid-up Equity Share Capital as on 31st March, 2018 was Rs. 196.66 lacs. During the year under review, the Company has neither issued Shares with Differential Voting Rights nor granted Stock Options nor Sweat Equity. As on 31st March, 2018 none of the Directors of the Company held Shares or Convertible instruments of the Company except Mr. Pankaj Bajaj, Chairman cum Managing Director who holds 10,68,267equity shares.
No fresh/renewal of deposits was accepted during the financial year 2017-18 from the Public, Shareholders and Employees.
There was no unclaimed deposit as at 31st March, 2018, therefore no amount was outstanding as of the Balance Sheet date.
DIRECTORS & KEY MANAGERIAL PERSONNEL
a) Changes in Directors
There was no change in the composition of Board of Directors during the year under review.
Also, in terms of the provisions of the Companies Act, 2013, Mr. Shrikant Jajodia, Director (DIN 00602511) of the Company is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, has offered himself for re-appointment. The Board recommends his re-appointment.
Brief resume of the Directors seeking reappointment along with the other details as stipulated under Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 are provided in the Report on Corporate Governance forming part of the Annual Report.
All the Independent Directors have given declarations that they meet criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements ) Regulations, 2015.
b) Changes in Company Secretary
Ms. Naina Tandon, Company Secretary had resigned from the Company on 15th day of June, 2017.The Board vide Resolution dated 27th June, 2017 appointed Ms. Chandni Vij as Company Secretary of the Company with effect from 16th day of June, 2017.
DIRECTORS RESPONSIBILITY STATEMENT
In terms of provisions of Section 134(5) of the Companies Act, 2013 your Directors confirm that: a. in the preparation of the annual accounts for the year ended 31st March, 2018, the applicable accounting standards have been followed along with proper explanation relating to material departures; b. the directors 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 as at 31st March, 2018 and of the Profits of the Company for the year ended on that date; c. the directors had 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 had prepared the annual accounts on a going concern basis; e. the directors ,in case of listed company had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively; f. the directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.
AUDITORS & THEIR REPORTS
a) Statutory Auditors
Pursuant to the provisions of Section 139 of the Companies Act, 2013, M/s B S D & Co., Chartered Accountants (Firm Registration Number: 000312S) were appointed as Statutory Auditors of your Company at the Annual General Meeting held on 29th September, 2017, for a term of five consecutive years till the conclusion of Thirty Seventh (37th) Annual General Meeting to be held in the year 2022 subject to ratification of their appointment by the Members at every Annual General Meeting, if so required under the Companies Act, 2013.
In accordance with the Companies Amendment Act, 2017, enforced on 7th May, 2018 by the Ministry of Corporate Affairs, the requirement of ratification of appointment of Statutory Auditors by members at every Annual General Meeting is no longer required.
Further, the Auditors have confirmed that they are not disqualified from continuing as Auditors of the Company.
The Report given by the Auditors is a part of this Report. The Notes on the Financial Statements and observations of the Auditors in their Report on the Accounts of the Company are self-explanatory and therefore do not call for any further comments. The Auditors Report annexed with this Annual Report, does not contain any qualification, reservation or adverse remarks.
b) Secretarial Auditors
Pursuant to the provisions of Section 204 of the Companies Act, 2013, the Board appointed M/s R K Tandon & Associates, Practicing Company Secretary, as the Secretarial Auditor of the Company for the Financial Year 2017-2018. The report in respect of the Secretarial Audit carried out for the Financial Year 2017-2018 in Form MR-3 forms part of this Report as "Annexure A" and does not contain any qualification, reservation or adverse remarks.
c) Internal Auditor
M/s Seth & Associates, Chartered Accountants, Lucknow (Firm Registration Number: 001167C) represented by Mr. Dhruv Seth (Membership No. 404028) performs the duties of internal auditors of the Company and their report is reviewed by the Audit Committee from time to time.
As on date of this report there are following subsidiaries of the Company:
1. Aaj Constructions Private Limited
2. Artistry Construction Private Limited*
3. Carnation Realtors Private Limited
4. Conviction Constructions Private Limited*
5. Dua Constructions Private Limited*
6. Deepjyoti Constructions Private Limited
7. Erudite Constructions Private Limited*
8. Facility Constructions Private Limited
9. Fixity Constructions Private Limited 10. Flourish Constructions Private Limited 11. Frozen Constructions Private Limited* 12. Garv Constructions Private Limited
13. Heather Buildcon Private Limited* 14. Iris Realtors Private Limited 15. Khwahish Constructions Private Limited 16. Neo Realtors Private Limited 17. Neptune Infracon Private Limited 18. Numerous Constructions Private Limited 19. Omni Farms Private Limited** 20. Perpetual Constructions Private Limited 21. Placate Constructions Private Limited* 22. Primacy Constructions Private Limited 23. Samarpit Constructions Private Limited 24. Shivaye Constructions Private Limited 25. Suniyojit Constructions Private Limited 26. Sushobhit Constructions Private Limited 27. Swarajya Builders Private Limited* 28. Swarg Constructions Private Limited 29. Swarnim Nirman Private Limited 30. Turbo Realtors Private Limited* 31. Utsav Constructions Private Limited* 32. Villa Constructions Private Limited 33. Yojna Constructions Private Limited
*Became wholly owned subsidiaries of the Company pursuant to the order dated March 27, 2018 which was received by the Company on April 2, 2018 from the Honble National Company Law Tribunal ("NCLT order"), Allahabad bench approving the Scheme of Amalgamation of Eldeco City Limited into and with Eldeco Housing and Industries Limited. The appointed date of the Scheme is April 1, 2017.
**During the Financial Year 2017-18, the Company along with its wholly owned subsidiary, Eldeco City Limited was holding 83% of Equity Share Capital of Omni Farms Private Limited. After receiving the aforesaid NCLT order, the Company alone holds 83% of Equity Share Capital of Omni Farms Private Limited. The appointed date of the Scheme is April 1, 2017.
In accordance with the general circular No. 2 and 3 dated 8th February, 2011 and 21st February, 2011 issued by the Ministry of Corporate Affairs, Government of India, the Balance Sheet, Profit and Loss Account and other documents of the subsidiary companies are not being attached with the Balance Sheet of the Company. However the financial information of the subsidiary companies is disclosed in the Annual Report in compliance with the said circular. The Company will make available the Annual Accounts of the subsidiary companies and the related detailed information to any member of the Company who may be interested in obtaining the same. The annual accounts of the subsidiary companies will also be kept open for inspection at the Registered Office of the Company. The Consolidated Financial Statements of the Company includes the financial results of its subsidiary companies.
REPORT ON THE PERFORMANCE AND FINANCIAL POSITION OF EACH OF THE SUBSIDIARY COMPANY INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT
Performance and financial position of each of the subsidiaries is provided in a separate statement attached pursuant to first proviso to Section 129(3) of the Companies Act, 2013 in Form AOC-1.
CONSOLIDATED FINANCIAL STATEMENTS
Pursuant to applicable Accounting Standards on Consolidated Financial Statements and Financial Reporting of Interest in Joint Ventures issued by the Institute of Chartered Accountants of India and as prescribed by Securities and Exchange Board of India (SEBI), Consolidated Financial Statements, which includes the financial information of the subsidiaries, are enclosed and forms part of this Annual Report.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
Pursuant to Section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy) Rules, 2014 and with various clarifications issued by the Ministry of Corporate Affairs, every Company having the net worth of Rs.500 crores or more or turnover of Rs.1000 crores or more or net profit of Rs.5 crore or more during any financial year have to spend at least 2% of the average net profit of the Company made during the three immediately preceding financial years. Accordingly, the Company has to spend an amount of Rs. 18.17 lacs on CSR Activities based on the average profits of the three preceding financial years.
The CSR activities carried/to be carried out by the Company is driven by the expertise of the management. Additionally, the Company gives preference to the local area(s) of its operations for CSR activities. The Company believes that the CSR should be in the field(s) which have substantial social impact and which co-relate with the philosophy of the Company to improve the quality of life. During the Financial year 2017-18, the Company has spent Rs. 2.56 lacs through Bal Sewa Kendra towards Mid-day meals for the poor section of the society and through Sports Development Society for sponsorship fees for holding 17th Eldeco Cup Tennis Championship Services for CSR activities for the F.Y. 2017-18.
However, for the balance amount, the Company could not identify relevant projects, and hence the entire spending prescribed towards CSR could not be made. Annual Report on CSR activities as required under the Companies(Corporate Social Responsibility Policy) Rules forms part of this Report and is attached as "Annexure B". The terms of reference of the CSR Committee is provided in the Corporate Governance Report. Your Company has formulated a Corporate Social Policy (CSR Policy) which is available on the website of the Company at www.eldecogroup.com
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
The Management Discussion and Analysis Report for the year under review, as stipulated under Regulation 34(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is appended to this Report.
Your Company is committed to maintaining the highest standards of Corporate Governance and adhering to the Corporate Governance requirements as set out by Securities and Exchange Board of India. The Report on Corporate Governance as stipulated under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, forms part of the Annual Report along with the Certificate from the Practicing Company Secretary confirming compliance with the conditions of Corporate Governance as stipulated under Schedule V of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and applicable provisions forms part of the Corporate Governance Report.
OTHER DISCLOSURES UNDER COMPANIES ACT, 2013
a) Extracts of Annual Return
Pursuant to the provisions of Section 92(3) of the Companies Act, 2013, extract of the Annual Return for the financial year ended March 31, 2018 forms part of this Report and is attached as "Annexure C". The Annual Return shall also be made available on the Companys website at www.eldecogroup.com.
The Board of Directors met 8 (Eight) times during the financial year ended March 31, 2018 in accordance with the provisions of the Companies Act, 2013 and rules made there under. Details of number of meetings of Board and various Committees are disclosed in the Corporate Governance Report forming part of this Annual Report.
c) Composition of Audit Committee
The Board has constituted an Audit Committee, which comprises of Mr. Anil Tiwari as the Chairman and Mr. Pankaj Bajaj, Mr. Ranjit Khattar and Mr. Ashish Jain as the Members. Other details about the Committee are disclosed in the Corporate Governance Report forming part of this Annual Report.
d) Related Party Transactions
During the year, the Company has entered into contracts/arrangement /transactions with its related parties as per Section 188(1) of the Companies Act, 2013 in the ordinary course of business and on arms length basis. None of the transactions with any of related parties were in conflict with the Companys interest. Suitable disclosure has been made in the notes to the financial statements.
All related party transactions are negotiated on arms-length basis and are in the ordinary course of business. Therefore, the provisions of Section 188(1) of the Companies Act, 2013 are duly complied with. Disclosure as required under Section 134(3)(h) read with Rule 8(2) of the Companies(Accounts) Rules, 2014 are given in "Annexure D" in Form AOC-2 as specified in Companies Act, 2013. Kindly refer the financial statements for the transactions with related parties entered during the year under review.
e) Particulars of Loans, Guarantees and Investments
The details of Loans, Guarantees and Investments covered under the Provisions of Section 186 of the Companies Act, 2013 have been provided in the Financial Statements which form a part of this Annual Report.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
During the period under review, the company received the following orders: a) Order received from the Regional Director, Northern Region, Ministry of Corporate Affairs, New Delhi dated October 16, 2017 in respect of the shifting of Registered Office from the State of Haryana to the State of Uttar Pradesh. b) Order received from the Honble National Company Law Tribunal, Allahabad Bench dated March 27, 2018 sanctioning the Scheme of Amalgamation of Eldeco City Limited, wholly owned subsidiary of the Company into and with Eldeco Housing and Industries Limited. The Appointed Date of the Scheme is April 1, 2017. The Scheme came into effect from April 11, 2018. c) Order received from the Honble High Court of Punjab & Haryana at Chandigarh and Honble National Company Law Tribunal, Allahabad Bench sanctioning the Scheme of Amalgamation of Halwasiya Agro Industries Limited & M A K
Sales Private Limited, wholly owned subsidiaries of the Company into and with Eldeco Housing and Industries Limited.
The Appointed Date of the Scheme is April 1, 2015. The Scheme came into effect from September 11, 2017.
INTERNAL FINANCIAL CONTROL
The Company has an internal control system commensurate with size, scale and complexity of its operations. A detailed note is
given under Management Discussion and Analysis Report.
Fraud-free and corruption-free work culture has been the core of the Company functioning. In view of the potential risk of fraud and corruption due to rapid growth and geographical spread of operations, the company has put even greater emphasis to address this risk.
To meet this objective, the Company has established sufficient Vigil Mechanism for the Directors and employees of the Company in compliance of the provisions of Section 177(9) of the Companies Act, 2013.
The Vigil Mechanism Policy has been shared with all the concerned and has also been placed on the website of the Company namely www.eldecogroup.com
DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,PROHIBITION AND REDRESSAL) ACT, 2013
Sexual Harassment Committee ("Committee") has been set up to redress the complaints regarding sexual harassment and adequate system for Prevention of Sexual Harassment of Women at Workplace. There were no complaint received during the financial year 2017-18 and hence no complaint is outstanding as on March 31, 2018 for redressal.
PARTICULARS OF EMPLOYEES
During the financial year under review, none of the Companys employees was in receipt of remuneration as under section 134(3)(q) of the Companies Act, 2013 read with Rule 5(2) & (3) of the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 and hence no particulars are required to be disclosed in this Report. The Company in total has 50 (Fifty) employees on roll as on 31st March, 2018.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
Pursuant to Section 134(1)(m) of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014 are given as under:
1. Conservation of Energy: Your Company is conscious about energy consumption and environmental issues related with it. It is continuously making sincere efforts towards conservation of energy and optimizing its usage in all aspects of operations.
2. Technology Absorption: The Company is taking advantage of the latest developments and advancements in the Construction Industry. The Company is using indigenous technology which is well established in the Country and no foreign technology/ know how was purchased. The Company has not incurred any R & D expenditure during the year.
3. Export Activities: There was no export activity in the Company during the year under review. The company is not planning any export in the near future, as well.
4. Foreign Exchange Earnings and Outgo: There was no Foreign Exchange Earning and Outgo during the year under review.
The Equity shares of the Company are presently listed at BSE Limited. The Company has already paid listing fees of Bombay Stock Exchange for the financial year 2018-2019.
Your Directors take this opportunity to place on record their sincere appreciation for the co-operation and assistance the Company has received from the Bankers and various Government Departments. The Board also places on record its appreciation of the devoted services of the employees; support and co-operation extended by the valued business associates and the continuous patronage of the customers of the Company.
|For &on behalf of the Board|
|Eldeco Housing and Industries Limited|
|Date: August 14, 2018||Pankaj Bajaj|
|Place: New Delhi||Chairman cum Managing Director|
Form No. AOC-2
Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 including certain arms length transactions under third proviso thereto
(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules,2014)
1. Details of contracts or arrangements or transactions not at arms length basis: N.A
2. Details of contracts or arrangements or transactions at arms length basis:
|Name(s) of the related party and nature of relationship||Nature of contracts/ arrangement/ transactions||Duration of the contracts / arrangements/ transactions||Salient terms of the contracts or arrange- ments or transactions including the value, if any:||Date(s) of approval by the Board, if any:||Amount paid as advances, if any:|
|Mrs. Asha Bajaj is a related party. She is mother of Mr. Pankaj Bajaj, Chairman cum Managing Director.||Lease deed||The Lease commenced from 1st December, 2017 for a period of 9 years.||Lease deed was entered between Mrs. Asha Bajaj and Eldeco Housing and Industries Limited to use the premise Eldeco Corporate Chamber I, 2nd floor, Vibhuti Khand (Opp. Mandi Parishad), Gomti Nagar-226010, Lucknow Uttar Pradesh as the Registered Office of the Company.||27th October, 2017||N.A|
|For &on behalf of the Board|
|Eldeco Housing and Industries Limited|
|Date: August 14, 2018||Pankaj Bajaj|
|Place: New Delhi||Chairman cum Managing Director|