<dhhead>DIRECTOR’S REPORT</dhhead>
TO THE MEMBERS,
Your Directors are presenting the 34th (Thirty
Fourth) Annual Report of the Company together with the Audited Accounts for the year ended
31st March 2023.
FINANCIAL HIGHLIGHTS
The Performance of the Company for the financial year ended 31st
March 2023 is summarized below:
|
STANDALONE |
PARTICULARS |
CURRENT YEAR (2022-23) |
PREVIOUS YEAR (2021-2022) |
Revenue & Other Income |
1033.50 |
436.06 |
Total Expenses |
916.40 |
507.55 |
Profit /(Loss) before exceptional item & Taxes |
117.10 |
(71.49) |
Exceptional Item |
- |
- |
Profit/(Loss) before Tax |
117.10 |
(71.49) |
Total Tax Expense |
42.96 |
5.86 |
Profit/(Loss) for the year |
74.14 |
(77.35) |
COMPANY’S PERFORMANCE
During the year under review, the Company has total revenues of
1033.50Lakhs as compared to 436.06 Lakhs during the previous year. The net profit/loss for
the year under review has been 74.14 Lakhs against profit/loss of (77.35) Lakhs during the
previous year. Your directors are continuously looking for avenues for future growth of
the Company in Hotel Industry.
DIVIDEND
No dividend is recommended for the financial year ended 31st
March, 2023.
TRANSFER TO RESERVES
The amount of profits of Rs. 74.14 Lakhs is proposed to be
carried to reserves during the period under review.
CHANGES IN SHARE CAPITAL
There has been no change in the Authorized and Paid-up share
capital of the Company during the year. Your Company has neither issued any equity shares
with differential rights nor granted any employees stock options/ sweat equity shares to
the Directors, Officers or employees of the Company during the year.
CHANGE IN NATURE OF BUSINESS
There was no change in the nature of business of the Company
during the financial year 2022-23.
DIRECTORS AND KEY MANAGERIAL PERSON
Pursuant to the provisions of section 149 of the Act, Mr. Rakesh
Kumar Agarwal, Mr. Ravi Kant Bansal and Mrs. Archana Jain are Non-Executive Independent
directors of the Company. They have submitted a declaration that each of them meets the
criteria of independence as provided in section 149(6) of the Act and Regulation 16 (b) of
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. There has been
no change in the circumstances which may affect their status as independent director
during the year.
In accordance with the provisions of the Companies Act, 2013 and
the Articles of Association of the Company, Mr. Nirvikar Nath Mittal, Director of the
Company, retires by rotation at the ensuing Annual General Meeting and being eligible,
have offered himself for re-appointment. The Board recommends his re-appointment for the
consideration of the Members of the Company at the Annual General Meeting.
During the year, the non-executive directors of the Company had
no pecuniary relationship or transactions with the Company, other than the sitting fees,
commission and reimbursement of expenses incurred by them for the purpose of attending
meetings of the Company.
Pursuant to the provisions of section 203 of the Act, the key
managerial personnel of the Company are –Mr. Nirankar Nath Mittal, Chairman &
Managing Director, Mr. Nirvikar Nath Mittal, Wholetime Director, Mr. Shri Kant Mittal,
Whole time Director & CFO, Mr. Shashank Mishra, Company Secretary.
Mrs. Archana Jain (DIN: 02420715) is proposed as an Independent
Director of the Company for a further period of Five years, starting from 11th February,
2024 and ending on 10th February, 2029 subject to the approval of the shareholders. in
ensuing Annual General Meeting. The Company has, in terms of Section 160(1) of the Act,
received in writing a notice from Member, proposing her candidature as Independent
Director.
The brief profile of Mr. Nirvikar Nath Mittal and Mrs. Archana
Jain along with details as regards their expertise, other directorships, membership in
committees of other companies and shareholding in the Company are annexed as Annexure - I
to the notice of AGM in accordance applicable provisions of SEBI Regulations and the
Companies Act, 2013.
The Board has carried out performance evaluation of all its
Independent Directors and is of the opinion that all the Independent Directors of the
Company are competent and eligible to continue as Independent Directors of the Company.
Pursuant to provisions of Sections 2(51) and 203 of the
Companies Act, 2013, read with Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, Mr. Nirankar Nath Mittal, Chairman and Managing Director, Mr.
Shrikant Mittal, Chief Financial Officer and Mr. Shashank Mishra, Company Secretary and
Compliance Officer are the Key Managerial Personnel of the Company.
Mr. Shashank Mishra was appointed as Company Secretary and
Compliance Officer of the Company in place of Mr. Mayank Mittal with effect from 24th
August, 2022. Mr. Mayank Mittal ceased to be the Company Secretary and Compliance Officer
of the Company with effect from close of business hours on 23rd August, 2022.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED
PARTIES
Particulars of contracts or arrangements with related parties
referred to in Section 188(1) of the Companies Act, 2013, in the prescribed form AOC-2,
are appended as Annexure - I to the Board’s Report.
All contracts / arrangements / transactions entered by the
Company during the financial year with related parties were in the ordinary course of
business and on an arm’s length basis. During the year, the Company had not entered
into any contract / arrangement / transaction with related parties which could be
considered material in accordance with the policy of the Company on materiality of related
party transactions. The Policy on materiality of related party transactions and dealing
with related party transactions as approved by the Board may be accessed on the
http://www.howardhotelsltd.com/reports/1434531522PolicyonMaterialityofRelatedPartyTransactionsandDealing.pdf
PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN
AND SECURITIES PROVIDED
Loans, guarantees and investments covered under Section 186 of
the Companies Act, 2013 form part of the notes to the financial statements provided in
this Annual Report.
ACCEPTANCE OF DEPOSITS
The Company has not accepted any deposits from public within the
meaning of Section 73 of the Companies Act, 2013, and the Companies (Acceptance of
Deposit) Rules, 2014, during the year under review.
ANNUAL RETURN
Pursuant to provisions of Section 92(3) and Section 134(3)(a) of
the Companies Act, 2013, the Annual Return of the Company is available on website of the
Company at https://www.howardhotelsltd.com.
SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES
The Company does not have any subsidiary, joint venture or
associate company.
MATERIAL CHANGES AND COMMITMENT AFFECTING FINANCIAL POSITION OF
THE COMPANY
There were no other material changes or commitments affecting
the financial position of the Company, which have occurred since the end of financial
year.
SECRETARIAL STANDARDS
The Company has complied with applicable Secretarial Standards
issued by the Institute of Company Secretaries of India, as amended from time to time.
BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT
As the company is not falling under the Top-1000 listed
entities, the provisions of regulation 34(2)(f) of the Listing Regulations pertaining to
the Business Responsibility and Sustainability Report (BRSR), are not applicable.
CODE OF CONDUCT
The Company’s Code of Conduct, as adopted by the Board of
Directors, is applicable to all Directors, Senior Management and Employees of the Company.
The Code of Conduct of the Company covers substantial development, disclosure of material
information, integrity of financial reporting, continuous improvement of the internal
control system and sound investor relations. The same can be assessed at http://
www.howardhotelsltd.com/reports/1434531313CodeofConduct.pdf
AUDITORS AND AUDITORS’ REPORT
M/s. B G G & Associates, Chartered Accountants (ICAI Firm
Registration No. 016874N), are appointed as the Statutory Auditors of the Company subject
to the approval of members, for a second term of subsequent five years commencing from the
financial year 2023-24, to hold office from the conclusion of the 34th Annual General
Meeting until the conclusion of the 39th Annual General Meeting, to be held in 2028, on
such remuneration plus service taxes, out-of-pocket expenses, etc. as may be mutually
agreed upon by the Board of Directors and the Auditors. The Auditors have confirmed that
they are eligible and not disqualified to continue as statutory auditors.
There is no Audit qualification for the year under review.
SECRETARIAL AUDITOR
Pursuant to the provisions of Section 204 of the Companies Act,
2013 and rules made thereunder, the Company has appointed M/s Satyendra Sharma &
Associates, a firm of Company Secretaries in Practice (C.P.No.4843) to undertake the
Secretarial Audit of the Company. The Secretarial Audit Report in Form MR-3 is annexed as Annexure-II
and forms an integral part of this report.
There is no secretarial audit qualification for the year under
review.
INTERNAL AUDITOR
The Company has appointed during the financial year 2022-23 M/s
Raj Singhal & Co., a reputed firm of Chartered Accountants as internal auditor of the
Company to test and review controls, appraisal of risks and business processes, besides
benchmarking controls with best practices in the industry.
EXPLANATIONS / COMMENTS BY BOARD OF DIRECTORS ON ADVERSE REMARK
MADE BY AUDITOR
The report on qualifications, reservations or adverse remarks or
disclaimers made by M/s. BGG & Associates, Chartered Accountants, Statutory Auditors,
in their Audit report and by Mr. Satyendra Sharma, Company Secretary in Practice, in his
Secretarial Audit Report are self-explanatory.
PARTICULARS OF EMPLOYEES
Disclosures pertaining to remuneration and other details as
required under Section 197(12) of the Act read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 are annexed herewith
marked as Annexure - III.
In terms of the provisions of Section 197(12) of the Act read
with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, during the year under review, no employee, whether employed for
the whole or part of the year, was drawing remuneration in excess of the limits set out in
the said rules. Hence the details required under the said Rules are not given.
Having regard to the provisions of the first proviso to Section
136(1) of the Act and as advised. The full Annual Report including the aforesaid
information is being sent electronically to all those members who have registered their
email addresses and is available on the Company’s website.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
The Management Discussion and Analysis of financial condition
and results of operation of the Company for the year under review, as required under
Regulation 34 of SEBI (LODR) Regulations, 2015, is given separately under the head “Management
Discussion & Analysis Report” in Annual Report as Annexure - IV.
CORPORATE GOVERNANCE
Pursuant to regulation 15(2) of Securities Exchange Board of
India (Listing Obligations & Disclosure Requirements) Regulations, 2015 provisions of
regulation 27 i.e. Corporate Governance and para C, D & E of Schedule V of SEBI (LODR)
Regulations, 2015 are not applicable to the Company.
POLICY ON DIRECTOR’S APPOINTMENT AND REMUNERATION
The current policy is to have an appropriate mix of executive
and independent directors to maintain the independence of the Board, and separate its
functions of governance and management. As on March 31, 2023, The Board consist of 6
members, three of whom are executive/ whole-time directors and three are independent
directors. The Board periodically evaluates the need for change in its composition and
size. The policy of the Company on director’s appointment and other matters provided
under sub section 3 of section 178 of the Companies Act, 2013 can be assessed at
http://www.howardhotelsltd.com/reports/1434531471PolicyforSelectionofDirectorsandDeterminingIndependence.pdf
DECLARATION BY INDEPENDENT DIRECTORS
The Company has received necessary declaration from each
independent director under Section 149(7) of the Companies Act, 2013, that he / she meets
the criteria of independence laid down in Section 149(6) of the Companies Act, 2013 and
Regulation 25 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
BOARD EVALUATION
The board of directors has carried out an annual evaluation of
its own performance, board committees and individual directors pursuant to the provisions
of the Act and the corporate governance requirements as prescribed by Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations
2015 (“SEBI Listing Regulations”).
The performance of the board was evaluated by the board after
seeking inputs from all the directors on the basis of the criteria such as the board
composition and structure, effectiveness of board processes, information and functioning,
etc.
The performance of the committees was evaluated by the board
after seeking inputs from the committee members on the basis of the criteria such as the
composition of committees, effectiveness of committee meetings, etc.
The board and the nomination and remuneration committee reviewed
the performance of the individual directors on the basis of the targets/ criteria such as
the contribution of the individual director to the board and committee meetings like
preparedness on the issues to be discussed, meaningful and constructive contribution and
inputs in meetings, etc. In addition, the chairman was also evaluated on the key aspects
of his role.
In a separate meeting of independent directors, performance of
non-independent directors, performance of the board as a whole and performance of the
chairman was evaluated, taking into account the views of executive directors and
non-executive directors. The same was discussed in the board meeting that followed the
meeting of the independent directors, at which the performance of the board, its
committees and individual directors was also discussed. Performance evaluation of
independent directors was done by the entire board, excluding the independent director
being evaluated.
The Company has devised a policy for performance evaluation of
Independent Directors, Board Committees and other Individual directors which includes
criteria for evaluation of the non-executive directors which can be accessed at
http://www.howardhotelsltd.com/reports/
1434531471PolicyforSelectionofDirectorsandDeterminingIndependence.pdf and
http://www.howardhotelsltd.com/reports/ 1435316045Nomination&RemunerationPolicy.pdf
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 134(3)(c) of the Companies Act, 2013, we
hereby state:
i). that in the
preparation of the Annual Accounts, the applicable accounting standards have been followed
along with proper explanation and that there are no material departures;
ii). that the
directors have 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 March 31, 2023 and of the profit and loss of
the Company for that period;
iii) that the directors have taken proper and sufficient
care for the maintenance of adequate accounting records in accordance with the provisions
of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing
and detecting fraud and other irregularities;
iv) that the
directors have prepared the Annual Accounts on a going concern basis.
v) that the
directors have laid down internal financial controls to be followed by the company and
that such internal financial controls are adequate and were operating effectively.
vi) that 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.
POLICY ON SEXUAL HARASSMENT OF EMPLOYEES
The Company has adopted a policy on prevention, prohibition and
redressal of sexual harassment at workplace in line with the provisions of the Sexual
Harassment of employees at Workplace (Prevention, Prohibition and Redressal) Act, 2013
(India) and the Rules thereunder. There is an Internal Complaints Mechanism where
is any wrongful conduct as regards sexual harassment or any other discrimination can be
reported. No complaints have been received & pending on Sexual Harassment of employees
during FY 2022-23.The policy can be assessed at http://
www.howardhotelsltd.com/reports/1434531591SexualHarrassmentPolicy.pdf
REGULATORY ACTIONS
There is neither any regulatory action initiated nor pending
under SEBI regulations or Company Law during the financial year 2022-23.
CASH FLOW ANALYSIS
The Cash Flow Statement for the year 2022-23 is annexed with the
Annual Accounts of the Company.
MEETINGS OF THE BOARD
During the financial year ended March 31, 2023, 05 (five)
meetings of the Board were held, as follows:
S. No. Dates of Board Meeting |
Board Strength |
No. of directors present |
01. 28.05.2022 |
6 |
6 |
02. 12.08.2022 |
6 |
5 |
03. 24.08.2022 |
6 |
4 |
04. 11.11.2022 |
6 |
4 |
| idth:153.6pt;padding:0in 5.4pt 0in 5.4pt> 05. 14.02.2023 |
6 |
4 |
*The maximum time gap between two meetings was not more than 120
days.
DISCLOSURES:
BOARD COMMITTEES:-
The Company has 3 Board Level Committees. All decisions and
recommendations of the Committees are placed before Board for information and approval.
The role and composition of these Committees, including the number of meetings held during
the financial year and the related attendance, are provided below:
A. Audit Committee
B. Nomination &
Remuneration Committee
C. Stakeholder’s
Relationship Committee.
A. AUDIT COMMITTEE
The composition, quorum, powers, role and scope are in
accordance with Section 177 of the Companies Act, 2013 and the provisions of Regulation 18
of the SEBI (LODR) Regulations, 2015. Mr. Rakesh Kumar Agarwal, Non –Executive
Independent Director is the Chairperson of the Audit Committee. The other members of the
Audit Committee include Mr. Ravi Kant Bansal and Mrs. Archana Jain. All the
recommendations made by the Audit Committee were accepted by the Board.
During the financial year ended March 31, 2023, 4 (Four) of the
Audit Committee were held, as follows:
S. No. Date |
Committee Strength |
No. of Members present |
01. 28.05.2022 |
3 |
2 |
02. 12.08.2022 |
3 |
2 |
03. 11.11.2022 |
3 |
2 |
04. 14.02.2023 |
3 |
2 |
B. NOMINATION & REMUNERATION COMMITTEE
The composition, quorum, powers, role and scope are in
accordance with Section 178 of the Companies Act, 2013 and the provisions of Regulation 19
of the SEBI (LODR) Regulations, 2015. Mr. Rakesh Kumar Agarwal, Non –Executive
Independent Director is the Chairperson of the Nomination & Remuneration Committee.
The other members of the Nomination & Remuneration Committee include Mr. Ravi Kant
Bansal and Mrs. Archana Jain.
During the financial year ended March 31, 2023, 1 (One) meeting
of the Nomination & Remuneration Committee was held as follows:
S. No. Date |
Committee Strength |
No. of Members present |
01. 28.05.2022 |
3 |
2 |
Moreover, the Company’s Nomination & remuneration
policy for Directors, Key managerial personnel and other employees is posted on the
website of the Company and can be accessed at http://www.howardhotelsltd.com/reports/
1435316045Nomination&RemunerationPolicy.pdf
C. STAKEHOLDERS’ RELATIONSHIP COMMITTEE
The composition, quorum, powers, role and scope are in
accordance with Section 178 of the Companies Act, 2013 and the provisions of Regulation 20
of the SEBI (LODR) Regulations, 2015. Mr. Ravi Kant Bansal, Non –Executive
Independent Director is the Chairperson of the Stakeholders’ Relationship Committee.
The other members of the Stakeholders’ Relationship Committee include Mr. Rakesh
Kumar Agarwal and Mrs. Archana Jain During the financial year ended March 31, 2023, 1
(One) meetings of the Stakeholders’ Relationship Committee were held as follows:
S. No. Date |
Committee Strength |
No. of Members present |
01. 28.05.2022 |
3 |
2 |
• There were no pending share transfers/ investors’
complaints as on March 31, 2023.
ATTENDANCE OF DIRECTORS
The detail of Director’s attendance in the Board Meeting
and their Committees during the F.Y. ended as on March 31, 2023 and in the last AGM of the
Company is as follows:
S.NO. Name of Director |
No. of Board Meeting attended out of 04 held during the year |
No. of audit Committee meetings attended |
No. of Nomination & Remuneration Committee meetings attended |
No. of Stakeholders Relationship Committee meetings attended |
Attendance at the last AGM |
01. Nirankar Nath Mittal |
5 |
- |
- |
- |
YES |
02. Nirvikar Nath Mittal |
5 |
- |
- |
- |
YES |
03. Shri Kant Mittal |
5 |
- |
- |
- |
NO |
04. Rakesh Kumar Agarwal |
5 |
4 |
1 |
1 |
YES |
05. Ravi Kant Bansal |
1 |
2 |
1 |
1 |
NO |
06. Archana Jain |
2 |
2 |
1 |
1 |
NO |
MEETINGS OF INDEPENDENT DIRECTORS
The Company’s Independent Directors meet at least once in
every financial year without the presence of Executive Directors or management personnel.
Such meetings are conducted informally to enable Independent Directors to discuss matters
pertaining to the Company’s affairs and put forth their views to the Lead Independent
Director. The Lead Independent Director takes appropriate steps to present Independent
Directors’ views to the Chairman and Managing Director. One meeting of Independent
Directors was held during the year i.e. on 14th February, 2023.
WHISTLE BLOWER POLICY & VIGIL MECHANISM COMMITTEE
The Company has adopted a Whistle Blower Policy and has
established the necessary vigil mechanism as defined under Regulation 22 of SEBI Listing
Regulations for directors and employees to report concerns about unethical behavior.
During the year under review, no employee was denied access to the Audit Committee. The
said policy has been also put up on the website of the Company and can be accessed at
http:// www.howardhotelsltd.com/reports/1432376932VIGILMECHANISMREPORT.pdf
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
Particulars required under Section 134 (3) (m) of the Companies
Act, 2013 read with Rule 2 of the Companies (Disclosure of Particulars in the Report of
Board of Directors) Rules, 1988 are given as under:
i. CONSERVATION OF ENERGY
I. Steps taken or impact on conservation of energy.
The company remains in constant pursuit to carry out its
activities in an environment friendly manner as well as to reduce the consumption of
energy. This is monitored regularly and suitable actions are implemented wherever needed
& feasible.
II. The steps taken by the company for utilizing alternate
source of energy.
The Company takes adequate measures in conserving energy in all
its activities.
III. Capital Investment on energy conservation equipment’s:
NIL
ii. TECHNOLOGY ABSORPTION
The Company strives continuously to use the updated technology
in all its activities.
iii. FOREIGN EXCHANGE EARNINGS AND OUTGO
Foreign Exchange Earning: NIL
Foreign Exchange Outgo: NIL
CORPORATE SOCIAL RESPONSIBILITY
The Company has not constituted the Corporate Social
Responsibility (CSR) Committee in accordance with Section 135 of the Companies Act, 2013
as the said provision is not applicable to the Company.
INDUSTRIAL RELATIONS
The industrial relations remained cordial and peaceful
throughout the year in the Company. The Directors wish to place on record their
appreciation for the contribution of the workers and officers of the Company at all level.
RISK MANAGEMENT COMMITTEE
The Company has not constituted the risk management committee in
accordance with Section 134 (3) (n) of the Companies Act, 2013 as the said provision is
not applicable to the Company.
REGISTRAR AND SHARE TRANSFER AGENT
Link Intime India Pvt. Ltd.
Noble Heights, 1st Floor, NH-2
C-1, Block LSC, Near Savitri Market,
Janakpuri, New Delhi – 110058
PREVENTION OF INSIDER TRADING
In compliance with the provisions of the Securities and Exchange
Board of India (Prohibition of Insider Trading) Regulations, 2015, as amended, the Company
has formulated and adopted the revised ‘Code of Conduct to regulate, monitor and
report trading by designated persons in Listed or Proposed to be Listed Securities’
of the Company (‘the Insider Trading Code’). The object of the Insider Trading
Code is to set framework, rules and procedures, which all concerned should follow, both in
letter and spirit, while trading. The Company has also adopted the Code of Practice and
Procedures for Fair Disclosure of Unpublished Price Sensitive Information (‘the Code’)
in line with the SEBI (Prohibition of Insider Trading) Amendment Regulations, 2018 and
formulated a Policy for determination of ‘legitimate purposes’ as a part of the
Code. The Code also includes policy and procedures for inquiry in case of leakage of
Unpublished Price Sensitive Information (‘UPSI’) and aims at preventing misuse
of UPSI.
The policy and the procedures are periodically reviewed and
Trading window closure is intimated to all concerned and to the Stock Exchanges in
advance. A digital platform is being maintained by the Company, which contains the names
and other prescribed particulars of the persons covered under the Insider Trading Code.
DETAIL OF APPLICATION MADE OR PROCEEDING PENDING UNDER IBC-2016
During the year under review, there was no application made or
proceeding pending in the name of the Company under IBC-2016.
DETAIL OF DIFFERENCES BETWEEN VALUATION AMOUNT ON ONE TIME
SETTLEMENT AND VALUATION WHILE AVAILING LOAN FROM BANKS AND FINANCIAL INSTITUTION
During the year under review, there has been no One Time
Settlement of loan taken from Banks and FIs.
DISCLOSURE OF AGREEMENT
There are no agreements which are required to be reported in
accordance with clause 5A of paragraph A of Part A of Schedule III of the SEBI
regulations.
ACKNOWLEDGEMENT
The Board acknowledges with gratitude the assistance,
co-operation and encouragement extended to the Company by Central Government, State
Government, Financial Institutions, SEBI, Stock Exchanges, Custodian, Regulatory/Statutory
Authorities, Registrars & Share Transfer Agent and other related Department of
Tourism. Your directors thank the customers, client, vendors, dealers, Company’s
bankers and other business associates for their continuing support and unstinting efforts
in the Company’s growth. The Board also wishes to place on record their deep
appreciation for the commitment displayed by all the executives, officers and staff,
resulting in successful performance during the year. The company has achieved impressive
growth through the competence, hard work, solidarity, cooperation and support of employees
at all levels. Your Directors is also thankful to the stakeholders, shareholder and
depositors for their continued patronage.
For & on behalf of Board of Directors of |
HOWARD HOTELS LIMITED |
Sd /- |
Nirankar Nath Mittal |
(Chairman & Managing Director) |
DIN: 01533102 |
Place: Agra |
Date: 12/08/2023 |
+91-9892691696
