The Members,
Your Directors have pleasure in presenting the Thirty Seventh (37th) Annual Report
together with the Standalone Financial Statements of the Company for the Financial Year
ended March 31, 2022
FINANCIAL HIGHLIGHTS
The standalone financial statements for the financial year ended March 31, 2022,
forming part of this Annual Report, have been prepared in accordance with the Indian
Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs.
The Company’s financial performance, for the year ended 31st March, 2022 and the
corresponding figures for the last year are summarized below:-
(Amount in Rupees)
| Particulars |
|
(Standalone) |
|
2021-22 |
2020-21 |
| Revenue from operations |
21,53,77,669 |
13,28,81,087 |
| Other Income |
60,24,774 |
1,26,56,733 |
| Total Income |
22,14,02,442 |
14,55,37,820 |
| Gross Expenditure |
20,92,93,666 |
13,00,48,492 |
| Less Finance Cost |
2,53,220 |
6,54,625 |
| Profit before Depreciation |
1,18,55,557 |
1,48,34,703 |
| Less Depreciation |
6,50,439 |
2,58,753 |
| Profit after depreciation and |
1,12,05,118 |
1,45,75,950 |
| Interest/Net Profit Before Tax |
|
|
| Less Exceptional items |
- |
- |
| Profit before extraordinary items and tax |
1,12,05,118 |
1,45,75,950 |
| Tax Expense |
4,55,399 |
1,79,524 |
| Net Profit/Loss after Tax |
1,07,49,719 |
1,43,96,426 |
| Other Comprehensive income for the year, net of tax |
6,34,023 |
25,37,928 |
| Total Comprehensive income/(loss) for the year |
1,13,83,742 |
1,69,34,354 |
| Earnings per Share (Basic) |
4.28 |
5.73 |
| Earnings per Share (Diluted) |
4.28 |
5.73 |
During the year under review, your Company has achieved a Total Revenue of Rs 2214.02
lakhs which is reflecting 52.13% growth over the corresponding previous financial
year’s total revenue of Rs. 1455.37 Lakhs. The Company’s EBIDTA stands at Rs.
121.08 lakhs. The Profit after Tax worked out to Rs.107.49 lakhs as compared to profit in
the previous year of Rs. 143.96 lakhs.
DIVIDEND
Your directors are pleased to recommend a dividend @ 1% i.e. Rs. 0.10 (Ten Paisa) per
share on 25,144,01 (Twenty-Five Lakhs Fourteen Thousand Four Hundred and One) Equity
Shares of Rs. 10/- each for the current financial year. The dividend if approved and
declared in the ensuing Annual General meeting to be held on 09th September, 2022. The
dividend would be payable to all the Shareholders whose names appear in the Register of
Members as on the Cut-off date i.e. 02.09.2022. The Register of Members and Share Transfer
books shall remain closed from Saturday, September 03, 2022 to Friday, September 09, 2022
(both days inclusive).
TRANSFER TO RESERVES
During the year under review, the Board of Directors of your Company, have decided not
to transfer any amount to the General Reserves of the Company.
FINANCIAL STATEMENTS
The Financial Statements of your Company have been prepared in accordance with Indian
Accounting Standards (IND-AS) issued by the Institute of Chartered Accountants of India
and Regulation 48 of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (hereinafter referred to as SEBI Listing
Regulations, 2015) for the financial year 2021-22 as applicable to the Company. The
estimates and judgments relating to the Financial Statements are made on a prudent basis,
so as to reflect in a true and fair manner, the form and substance of transactions and
reasonably present the Company’s state of affairs, profit and cash flow for the year
ended 31st March, 2022.
SHARE CAPITAL
During the year under review, the Authorized Share Capital of the Company stands at Rs.
5,40,00,000/- (Five Crore Forty Lakhs) divided into 54,00,000 (Fifty-Four Lakh) Equity
Shares of Rs. 10/- each. The Issued, Subscribed and Paid up Capital stands at 25,14,401
(Twenty-Five Lakh Fourteen Thousand Four Hundred and One) Equity Shares of Rs.10/-each
aggregating to Rs.2,51,44,010/ -(Tw o Crore, Fifty-One Lakhs, Forty-Four Thousand and Ten
rupees only).
RESERVES AND SURPLUS
Reserves and Surplus of the Company for the financial year 2021-22 stands at Rs. 919.60
Lakhs as against the Reserve and Surplus of Rs. 808.28 Lakhs in the previous financial
year 2020-21.
DEPOSITS
Your Company has not accepted any Deposits during the year in terms of Section 73 of
the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014. No
deposits remained unpaid or unclaimed as at the end of the year and there was no default
in repayment of deposits or payment of interest thereon during the year.
HUMAN RESOURCES
Your Company envisages 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. Your Company has continuously adopted structures that
help attract best external talent and provide internal talent to higher roles and
responsibilities. Your Company has an adequate pool of trained and competent human
resources which is highly capable to meet the challenges of growing quality perspective
and complex logistics requirement of the customers. In view of increased competition, the
human resources of the company are able and proved to deliver specialized services of
desired quality meet the competition and to satisfy customer requirements.
DIRECTORS AND KEY MANAGERIAL PERSONNEL
i) Retirement by Rotation:
Pursuant to the provisions of Section 152(6) and other applicable provisions, of the
Companies Act, 2013 and Articles of Association of the Company, Mrs. Anita Jalan (DIN:
00475635), Director of the Company, retires by rotation at the ensuing Annual General
Meeting and being eligible has offered for her re-appointment.
ii) Appointment & Resignation of Directors:
During the year under review, the shareholders at the Annual General Meeting of the
Company held on 20th September, 2021 had regularized Mr. jay Nandan Jha (DIN: 00531064))
as Independent Director of the Company, for a period of 5 (Five) years w.e.f. 18th
December, 2020 to 17th December, 2025. Your Board currently comprises of 5 Directors
including 2 Independent Directors.
| Name |
Appointment Date |
Cessation Date |
Remarks |
| Prakash Chand Jalan |
08.06.1990 |
- |
Director |
| Nishit Jalan |
19.12.2013 |
- |
Whole-Time Director |
| Anita Jalan |
01.09.1995 |
- |
Director |
| Nawal Kishore Choudhury |
02.03.2020 |
- |
Director (Independent) |
| Jay Nandan Jha |
18.12.2020 |
- |
Director (Independent) |
| Nishit Jalan |
18.06.2015 |
- |
Chief Executive Officer |
| Ankur Jalan |
18.06.2015 |
- |
Chief Executive Officer |
| Pooja Jain |
11.01.2019 |
- |
Company Secretary |
None of the Directors of the Company are disqualified as per section 164(2) of the
Companies Act, 2013 and Rules made thereunder or any other provisions of the Companies
Act, 2013. The Directors have also made necessary disclosures to the extent as required
under provisions of section 184(1) of the Companies Act, 2013. All members of the Board of
Directors and senior management personnel affirmed compliance with the Company’s Code
of Conduct policy for the FY 2021-22.
iii) Declaration by Independent Directors:
The Company has received declarations from all the Independent Directors of the Company
confirming that:
a) they meet the criteria of independence as prescribed under section 149 of the
Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations
2015; and
b) they have registered their names in the Independent Directors’ Data bank
pursuant to Sub-rule (1) and (2) of Rule 6 of the Companies (Appointment and
Qualifications of Directors) Rules, 2014 and amendments thereto.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to the provisions of section 134(3) (c) & 134 (5) of the Companies Act,
2013, your Directors to the best of their knowledge and ability hereby confirm that:
1. in the preparation of the annual accounts, the applicable accounting standards had
been followed along with proper explanation relating to material departures; 2. 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 at the end of the financial year and of the profit
and loss of the Company for that period; 3. the directors 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; 4. the directors had prepared the annual accounts on a
going concern basis;
5. the directors had laid down internal financial controls to be followed by the
Company and that such internal financial controls are adequate and were operating
effectively; and
6. 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.
Based on the internal financial control framework, audit procedure and compliance
system as established and maintained by the Company, the Board is of the opinion that the
Company’s internal financial controls were adequate and effective during the
financial year 2021-22
AUDITORS AND THEIR REPORTS
1. Statutory Auditors
At the Annual General Meeting held on 30th July, 2020, M/s. Doogar &
Associates., Chartered Accountants, (Firm Registration Number: 000561N), New Delhi were
appointed as Statutory Auditors of the Company to hold the office till the conclusion of
40th Annual General Meeting of the Company. In terms of the amended provisions
of Section 139(1) of the Companies Act, 2013, the appointment of statutory auditors need
not to be ratified at every Annual General Meeting.
The observations, if any, made by the Statutory Auditors in their Auditors Report
together with Notes to Accounts, as append thereto are self-explanatory and hence does not
call for any further explanation.
The Auditors’ Report does not contain any qualification, reservation, adverse
remark or disclaimer.
2. Cost Auditor or Cost Records
The provisions of Section 148 are not applicable on the Company. Consequently, the
company is not liable to maintain such cost records and appoint Cost Auditor.
3. Secretarial Auditors
Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with
corresponding Rules framed thereunder, M/s Narender & Associates, Company Secretaries;
continued to be Secretarial Auditors of the Company, to carry out the Secretarial Audit
for the year ended March 31, 2022. The Secretarial Audit Report given by the Secretarial
Auditors in Form No. MR-3 which is annexed with this Report as "Annexure A".
4. Internal Auditors:
Mr. Murari Kumar Jha continued to be the Internal Auditors of the Company under the
provision of Section 138 of the Companies Act, 2013 for conducting the internal audit of
the Company for the financial year 2021-22.
DETAILS RELATING TO REMUNERATION TO DIRECTORS, KEY MANAGERIAL PERSONNEL AND EMPLOYEES
The particulars and information of the Directors/employees as required under Section
197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules 2014 of your Company is attached as "Annexure-B"to
this report. None of the employees of the Company were in receipt of the remuneration
exceeding limits pursuant to the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014.
CHANGE IN THE NATURE OF BUSINESS, IF ANY
There was no change in the nature of business of the Company during the financial year
ended March 31, 2022.
FRAUD REPORTING
No such fraud was reported by the statutory auditors of the Company.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
Pursuant to the provisions of Section 135(1) of the Companies Act, 2013, Corporate
Social Responsibility is not applicable on your Company.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
The information pertaining to conservation of energy, technology absorption, foreign
exchange earnings and outgo as required under Section 134(3) (m) of the Companies Act,
2013 read with Rule 8(3) of the Companies (Accounts) Rules, 20 14 are as follows:
A. CONSERVATION OF ENERGY i. The steps taken or impact on conservation of energy: NIL
ii. The steps taken by the Company for utilizing alternate sources of energy: NIL
iii. The capital investment on energy conservation equipment: NIL
B. TECHNOLOGY ABSORPTION
I. Efforts made in technology absorption& Benefits derived: NIL
II. Benefits derived like product improvement, cost reduction, product development or
import substitution: NIL
III. In case of Imported Technology (imported during last 3 years reckoned from
beginning of the financial year): NIL
IV. The expenditure incurred on Research and Development: NIL
FOREIGN EXCHANGE EARNINGS AND OUTGO
During the year under review, details of foreign exchange earnings and outgo are as
follows: Earnings: NIL Outgo : NIL
INTERNAL AUDIT & CONTROLS
During the year under review, the Company continues to engage Internal Auditors and had
implemented their suggestions and recommendations to improve the control environment. The
Internal Auditors 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.
ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS
The Company has in place adequate internal financial controls as required under section
134(5)(e) of the Companies Act, 2013. During the year under review, such controls were
tested with reference to financial statements and no reportable material weakness in the
formulation or operations were observed.
CODE OF CONDUCT FOR PREVENTION OF INSIDER TRADING
In terms of the SEBI (Prohibition of Insider Trading) Regulations, 2015, your Company
has already adopted the Code of Conduct to regulate. Monitor and report trading by
designated persons towards prevention of Insider Trading. Further, in accordance with the
provisions of Regulation 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015, the
Board of Directors of the Company has duly approved and adopted the code of practices and
procedure for fair disclosure of Unpublished Price Sensitive Information and formulated
the code of conduct of the Company.
The code is applicable to Directors, Employees, Designated Person and other connected
persons of the Company. The aforesaid code of conduct for prevention of Insider Trading is
duly placed on the website of the Company at www.grovyindia.com. Pursuant to the Internal
Code of Conduct for Prevention of Insider Trading as framed by the Company under SEBI
(Prohibition of Insider Trading) Regulations, 2015 (as amended), the trading window
closure(s) are intimated in advance to all the designated person and during the said
period, the Board of Directors and concerned persons are not permitted to trade in the
securities of the Company.
DISCLOSURE AS PER APPLICABLE ACT, LISTING AGREEMENT/ SEBI (LODR) REGULATIONS, 2015
a) Related Party Transactions:
All transactions entered with related parties during the FY 2021-22 were on arm’s
length basis and were in the ordinary course of business and hence not falling under the
provisions of Section 188 of the Companies Act, 2013. There have been no materially
significant related party transactions with the Company’s Promoters, Directors and
others as defined in section 2(76) of the Companies Act, 2013, and Regulation 23 of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 which may have
potential conflict with the interest of the Company at large. Accordingly, disclosure in
Form AOC-2is not required.
b) Number of Board Meetings:
During the financial year under review, 4 (Four) Board Meetings were held The details
of Board Meetings are as below:
| Date |
Board Strength |
No. of Director present |
| 03rd June, 2021 |
5 |
4 |
| 04th August, 2021 |
5 |
5 |
| 02nd November, 2021 |
5 |
4 |
| 02nd February, 2022 |
5 |
5 |
c) Audit Committee:
The Board has constituted the Audit Committee under the applicable provisions of the
Companies Act,2013 and the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
Recommendation by Audit Committee: There were no such instances where the
recommendation of Audit Committee has not been accepted by the Board during the financial
year under review.
During the financial year under review, 4 (Four) Audit Committee Meetings were held.
The details of Meetings are as below:
| Date |
Members Strength |
No. of Members present |
| 03rd June, 2021 |
3 |
3 |
| 04th August, 2021 |
3 |
3 |
| 02nd November, 2021 |
3 |
3 |
| 02nd February, 2022 |
3 |
3 |
d) Nomination & Remuneration Committee:
The Board has constituted the Nomination & Remuneration Committee under the
applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
e) Stakeholders & Relationship Committee:
The Board has constituted the Stakeholders & Relationship Committee under the
applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
f) Extract of the Annual Return
Pursuant to Section 92(3) read with Rule 12 of the Companies (Management and
Administration) Rules, 2014 and Section 134(3)(a) of the Companies Act, 2013, the copy of
Annual Report in form MGT-7 is available at the official website of the Company
www.grovyindia.com
g) Risk Analysis
The Company has in place a mechanism comprising of regular audits and checks to inform
the Board members about the Risk assessment and mitigation plans and periodical reviews to
ensure that the critical risks are controlled by the executive management. Major risks
identified are systematically addressed through risk mitigation actions on a continuing
basis.
h) Loan, Guarantees & Investments
During the year under review, your Company has invested and deployed its surplus funds
in securities which were within the overall limit of the amount and within the powers of
the Board as applicable to the Company in terms of Section 179 and 186 of the Companies
Act, 2013. The details of loans, guarantees and investments made under Section 186 of the
Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014
are given in the notes to Financial Statements.
i) Material changes and commitments, if any, affecting the financial position between
the end of the financial year and date of the report:
The financials of the Company may be affected to the extent of ongoing COVID pandemic
2nd wave in the 1st quarter of financial year 2021-22 and as may occur in the rest of the
quarters. However, business activities is being normalised and not much of financial
impact is envisaged.
j) Subsidiaries, Associates or Joint Ventures:
Your Company does not have any subsidiaries, associates or joint ventures.
k) Vigil Mechanism (Whistle Blower Policy):
The Company strongly follows the conduct of its affairs in a fair and transparent
manner by adoption of high standards of professionalism, honesty, integrity and ethical
behavior and accordingly as per the requirement of the Companies Act, 2013 and the SEBI
(LODR) Regulations, 2015, your Company has framed its Whistle Blower Policy to enable all
the employees and the directors to report any violation of the Code of Ethics as
stipulated in the said policy. By virtue of Whistle Blower Policy, the directors and
employees of the Company are encouraged to escalate to the level of the Audit Committee
any issue of concerns impacting and compromising with the interest of the Company and its
stakeholders in any way. The Company is committed to adhere to highest possible standards
of ethical, moral and legal business conduct and to open communication and to provide
necessary safeguards for protection of Directors or employees or any other person who
avails the mechanism from reprisals or victimization, for whistle blowing in good faith.
l) Formal Annual Evaluation of the Performance of the Board, Its Committees and of
Individual Directors
In line with the statutory requirements enshrined under the Companies Act, 2013 and the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board
carried out a performance evaluation of itself, its Committees, the Chairman and each of
the other Directors. As in previous year, this was carried out on the basis of framework
approved by the Nomination and Remuneration Committee. The Committee had unanimously
consented for an ‘in-house’ review built on suggestive parameters. Based on the
suggestive parameters approved by the Nomination and Remuneration Committee, the following
evaluations were carried out:
Review of Board as a whole by all the Members of the Board.
Review of all Board Committees by all the Members of the Board.
Review of Individual Directors by rest of the Board Members except the Director being
evaluated.
m) Cost Records:
The provisions of Section 148 are not applicable on the Company. Consequently, the
company is not liable to maintain such cost records. n) Internal Complaint Committee:
The Company has complied with provisions relating to the constitution of Internal
Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013.
o) Disclosure relating to Material Variation:
As per Regulation 32(1) of SEBI (Listing Obligations and Disclosure Requirements)
Regulation, 2015, there is no significant material variances noted in the Company.
SECRETARIAL STANDARDS
Secretarial Standards, i.e. SS-I, SS-II and SS-III relating to ‘Meetings of the
Board of Directors’, ‘General Meetings’ and ‘Dividend’
respectively to the extent as applicable have been duly followed by the Company.
INDUSTRIAL RELATIONS
The Industrial relation during the year 2021-22 had been cordial. The Directors take on
record the dedicated services and Significant efforts made by the officers and Staff
towards overall progress of the Company
DISCLOSURES UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION,
AND REDRESSAL) ACT, 2013
The Company has zero tolerance for sexual harassment at workplace and has formulated
and adopted an Anti-Sexual Harassment Policy in line with the requirements of the Sexual
Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the
rules framed thereunder. All employees (permanent, contractual, temporary, trainees) are
covered under this Policy. The Policy is gender neutral. During the year under review, no
complaints with allegations of sexual harassment were received by the Company
COMPANY’S WEBSITE
The website of your Company, www.grovyindia.com has been designed to present the
Company’s businesses upfront on the home page. The site carries a comprehensive
database of information of all the services rendered including the Financial Results of
your Company, Shareholding pattern, Corporate profile, details of Board Committees,
Corporate Policies and business activities of your Company. All the mandatory information
and disclosures as per the requirements of the Companies Act, 2013, Companies Rules 2014
and as per Regulation 46 of SEBI (Listing Obligations & Disclosure Requirements)
Regulations, 2015 has been displayed.
CORPORATE GOVERNANCE REPORT
The Company’s philosophy of Corporate Governance aims at establishing and
practicing a system of good corporate governance which helps in achieving the goal of
maximizing value of Company’s stakeholders in a sustainable manner.
Your Company’s Governance structure is built on transparency, integrity, ethics,
honesty and accountability as core values, and the management believes that practicing
each of these creates the right corporate culture attaining the purpose of Corporate
Governance. Your Company strives to undertake best Corporate Governance practices for
enhancing and meeting stakeholders’ expectations while continuing to comply with the
mandatory provisions of Corporate Governance under the applicable framework of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015.
Further, as per regulation 15(2) of SEBI (LISTING OBLIGATION AND DISCLOSURE
REQUIREMENT) REGULATION 2015, certain Companies are exempted from mandatory compliance of
the provisions of Regulation 17 to 27 of SEBI (LISTING OBLIGATION AND DISCLOSURE
REQUIREMENT) REGULATION 2015. In terms of the said regulation, every listed Company which
has paid up equity share capital not exceeding Rs. 10 Crores and Net worth not exceeding
Rs. 25 Crores, as on the last day of the previous financial year, are exempted from
complying with the provisions of Corporate Governance regulations of listing agreement
entered with the stock exchange.
The certification by CEO i.e. Whole-Time Director of the Company & CFO as per
regulation 15(2)(b) of SEBI (Listing Obligation and Disclosure Requirements) Regulations,
2015 is attached and marked as
Annexure –‘C’.
MANAGEMENT DISCUSSIONS & ANALYSIS REPORT
Pursuant to Regulation34(2)(e) read with Schedule V of the Securities & Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,
Management Discussion & Analysis Report for the year under review forms the part of
this report and is marked as "Annexure D".
TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND
During the year under review, the Company has not transferred any amount in investor
Education and Protection Fund.
LISTING OF SECURITIES IN STOCK EXCHANGE
The shares of the Company are presently listed at BSE Ltd. w.e.f. 30th December 2015
with Scrip Code 539522 in the list of XT Group Securities. The Company is registered with
both NSDL & CDSL for holding the shares in dematerialized form and open for trading.
The Company has paid the Annual Listing Fees to BSE and Custodian fees to the
depositories.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS
IMPACTING THE GOING CONCERN STATUS AND COMPANY’S OPERATIONS IN FUTURE
There has been no significant &material order passed by the Regulators/ Courts/
Tribunals impacting the going concern status and Company’s operations in future.
CAUTIONARY NOTE
The statements forming part of the Directors’ Report may contain certain forward
looking statements within the meaning of applicable securities laws and regulations. Many
factors could cause the actual results, performances or achievements of the Company to be
materially different from any future results, performances or achievements that may be
expressed or implied by such forward looking statements.
ACKNOWLEDGEMENTS
Your Directors would like to express their grateful appreciation for the assistance and
co-operation received from the Financial Institutions, Banks, Government Authorities and
Shareholders during the year under review. Your Directors wish to place on record their
deep sense of appreciation to all the employees for their commendable teamwork, exemplary
professionalism and enthusiastic contribution during the year.
|
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS |
| SD/- |
SD/- |
| (Prakash Chand Jalan) |
(Nishit Jalan) |
| Director |
Whole-Time Director & CEO |
| DIN: 00475545 |
DIN: 002964239 |
| Date: 12.08.2022 |
|
| Place: New Delhi |
|
+91-9892691696
