IEC Education Ltd Directors Report.

Your Directors take pleasure in presenting to you the 26th Annual Report together with the Audited Accounts of the Company covering the Financial Year ended March 31, 2020.

Financial Highlights

The Financial highlights of the Company for the Financial Year ended March 31, 2020 are as follows:

(Rs. In Lakhs)

Title Year Ended March 31,2020 Year Ended March 31,2019
Revenue from Operations - -
Other Income - -
Total Expenditure except Depreciation and Finance Cost 52.06 43.16
Interest 0.00 0.12
Depreciation and Amortization 1.63 50.74
Profit/Loss before Tax (53.69) (94.02)
Provision for Tax (adjusted) 0 0
Profit/Loss for the year (53.69) (94.02)

Operational Review / State of Companies Affairs

The Company has not carried any business activity during Financial Year ended March 31, 2020. Profit before taxation was Loss of Rs.53.69 Lakhs, as against Loss of Rs. 94.02 Lakhs in the previous year. The net Loss of the Company is Rs.53.69 Lakhs as against Loss of Rs. 94.02 Lakhs in the Previous Year. During the year, your Company has explored and evaluated various options in education sector for reviving and revitalizing business activities. However due to Corona pandemic, these plans could not be initiated in the current year so far. We are in talks with one of the renowned educational institutes in UK for running their online programs in India under IEC brand. We have also entered into an MOU with a renowned Chennai based company for running various educational programs on line. It is also proposed to explore the various areas for providing managerial consultancy to a number of educational institutes in the years to come. Announcement of national educational policy has opened new horizons in the education field. Your Company is also evaluating various facets of the policy before taking a plunge in the market with great hope and aspirations. We expect that the last quarter of the current year may see a new beginning for your company.

Consolidated Financial Results

In compliance with Regulation 33 and Regulation 34 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, Financial Statements are prepared in accordance with the Accounting Standards notified under section 133 of the Companies Act, 2013 read with rule 7 of Companies (Accounts) Rules, 2014. The Consolidated Financial Statements illustrate the financial resources, assets, liabilities, income, profit and other details of the company and its subsidiaries as a single entity. The Consolidated Financial Statements together with Auditors report there on from part of the annual report.

Share Capital

The paid-up equity capital of the Company as on March 31, 2020 was Rs. 1526 Lakhs. During the year under review, the Company has not issued any equity share, preference share or any other security.

Reserves

The reserves of the Company stood at Rs. 1675.03 Lakhs as against Rs.1717.62 Lakhs in the last Financial Year.

Dividend

Your directors had not recommended any dividend for the financial year ended March 31, 2020.

Public Deposits

Your Company has not accepted any deposit within the meaning of section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 2014. During the year under review, there were no outstanding deposits.

Directors

During the year under consideration, Mr. Sunil Kumar Joined as an independent director and Mrs. Anita Menon also joined the board as a non-executive director. Mrs. Shalini Gupta resigned from the position of Director on April 30, 2019. During the Financial year ended March 31, 2020, the meeting of Directors of your Company held 9 times on 30.05.2019, 1.08.2019, 14.08.2019, 4.11.2019, 13.11.2019, 20.12.2019, 3.01.2020, 5.02.2020 and 14.02.2020.

Key Managerial Personnel

The Key Managerial Personnel of IEC Education Limited are:

1. Dr. Naveen Gupta - Managing Director

2. Mr. Chander Veer Jain CEO and Company Secretary

3. Mr. Bhishma Prasad Yadav - Chief Financial Officer

Auditors

M/s Rakesh Varshney resigned as Statutory Auditor of the Company w.e.f. July 03, 2019 due to his other preoccupations. The Board of Directors at their Meeting held on August 01, 2019 has proposed the appointment of M/s Karan Khanna, Chartered Accountants (Membership No. 532004) as Statutory Auditor of the Company for a period of Five years beginning with Financial Year 2019 20. In the last AGM of the company M/s Karan Khanna Chartered Accountants (Membership No. 532004) has been appointed as statutory auditors of the company for a period of 5 years. The Company has received necessary certificate from them under section 139 and 141 of the Companies Act, 2013 to the effect that they satisfy the conditions under the said Act and the rules made there under for their appointment.

Auditors Report

Auditors submitted their report on the financials of the Company for the year ended March 31, 2020. The report was subjected to the following observations by the Auditor:

OVERDUE LOANS AND ADVANCES

The company has Loans & Advances with related parties which are long outstanding.

Managements Response:

The major amount includes the recovery from Vocational Education Foundation and Vocational Education Trust. The amount was given to the trusts in previous years for execution of the Educational Projects. We were expecting starting of recovery from these societies and trust from current year onwards. Though we have been successful in recovering some amount, still a major portion is due for recovery. We observe that due to sharp fall in higher education activities, immediate recovery of all the dues from them is not possible. Even using legal means may not fetch the desired results as the legal process is always very lengthy and it may rather delay our recovery chances. Our Board has been working on a formula under which we may recover the amount from them over a period of few years. We are confident that we would be in a position to recover the entire amount from them on regular basis in next few years.

NON-RECOVERY OF SUNDRY DEBTORS (590.90 LAKHS) The company has Sundry Debtor those are Long Outstanding

Managements Response:

The Company was awarded "Computer Education Project" by Delhi Government and "Rajasthan School and College Project" by Rajasthan Government during year 2000 and year 2003 respectively. The Company successfully completed both the projects however the payment was disputed by then Delhi Government and Rajasthan Government. The matter is subject to Arbitration between Delhi Government and the Company. Regular correspondences are made with Rajasthan Government for recovery of the amount due. The management is confident that the money will be received from both the Governments. In fact, our settlement proposal is pending with the Delhi Government in one of the cases under arbitration. We are expecting that to be settled in the current year only. For other case also we are in talks with Delhi Government and hope that it will also be resolved amicably soon. Though there has been delay due to legal cases but we are hopeful to get the cases settled in our favor soon and expect full recovery of our dues.

GOING CONCERN AND BANK TRANSACTIONS

Investment in subsidiaries whose net worth is either 100% eroded or 50% eroded & are not doing any business, their valuation is not substantiated.

Managements Response:

Revival of business has always been a huge task particularly when the business is down for more than 2 years. All these years, management has explored various options to start long lasting and profitable educational business activities. We have been working on a winning formula that supports our vision. During the year we have tied up with 361DM a company into on line education business to run their courses under the banner of IEC. Similarly we are talking to OBS a UK based company for running their programs on line under our brand name. We are also in talks with some of the educational institutes to provide them admission and management consultancy. However due to COVID pandemic the implementation of our activities have been delayed and we expect them to start immediately after normalization of situation in the country. Efforts towards revival of our franchisees are also bearing fruits. We expect that year 20-21 shall be a year that will see revival of our company as well as our subsidiaries as business operations of the Company shall be shared amongst the subsidiaries depending upon the objects of the Companies and further the same shall be subject to approval by Board of Directors. Bank accounts will also be active on start of the business in the company.

STATUTORY DUES

The company is not paying its statutory dues.

Managements Response:

All the statutory dues that are pending shall be paid during the current financial year and as per the prevailing legal framework.

Extract of Annual Return

The details forming part of Annual Return in form MGT-9 is annexed herewith as Annexure A.

Directors Responsibility Statement

In terms of section 134(5) of the Companies Act, 2013, the directors would like to state that:

1) In the preparation of the Annual Accounts for the period ended as on 31st March, 2020 the applicable Accounting Standards have been followed and no material departure has been identified.

2) Accounting Policies have been consistently applied in a reasonable and prudent manner so as to give true and fair view of the state of affairs of the Company for the financial year ended 31st March, 2020 and of the Statement of Profit and Loss ended that date for the financial year ended 31st March, 2020.

3) Proper and sufficient care has been taken for the maintenance of adequate records in accordance with the applicable provisions of the Companies Act, 2013 for safeguarding the Assets of the Company and for preventing and detecting fraud and other irregularities.

4) The Annual Accounts for the Financial Year ended 31st March, 2020 have been prepared on 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.

6) The directors had devised proper system to ensure compliance with the provisions of all applicable laws and that such system was adequate and operating effectively.

Details of Fraud reported by Auditors

No fraud as required under section 143 of the Companies Act, 2013 has been reported by the Auditors for the Financial Year ended March 31, 2020.

Details of Material Orders Passed by Regulators

No Material Order has been passed by any regulator affecting the business operations of the Company except the penalties imposed by Bombay Stock Exchange for late compliance of Regulation 31 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Also, the trading in the shares of the Company has been suspended on account of the same. The Company has complied with all the regulatory requirements and has been filing all compliances on time. We are in the process of filing the application for removal of suspension of trading and expect a favorable decision in the matter soon.

Declaration by Independent Directors

? All independent Directors have given declaration that they meet the criteria of -independence as laid down under section 149(6) of the Companies Act, 2013.

? Independent Directors considered / evaluated the performance of the non - independent Directors at a meeting without anyone from the non - independent Directors and Management.

? The Board subsequently evaluated performance of the Board, the Committees and Independent Directors (without participation of the relevant director).

Nomination and Remuneration Policy

The Board, on the recommendation of the Nomination and Remuneration Committee has already framed a policy for selection and appointment of Directors, Senior Management and their remuneration. The Companys policy on appointment and remuneration including criteria for determining qualifications, positive attributes, and independence are provided in the Corporate Governance Report forming Part of the Annual Report. The detailed policy is available on the website of the Company at https://iecgroup.in/wp-content/uploads/2019/12/Nomination-and-Remuneration-Policy.pdf

Secretarial Audit

Pursuant to section 204 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors has appointed M/s Kajal Goyal and Associates to undertake the Secretarial Audit of the Company for Financial Year 2019-20. The Secretarial Audit Report is annexed herewith as

Annexure B.

The following are the observations made by the Secretarial Auditor in their report:

The Companys financial assets constitute more than 50% of the total assets thus the company is carrying out NBFI Activity without having registration certificate as required under section 45(ia) of RBI Act.

Managements Response: The Company was carrying Educational Business Activity from past so many years and the fact is also evident from the previous year financials and income from main business was much higher than financial income. However as of now there is no business in the company and company is the process of restructuring it business model.

Delayed filing of some of the intimations and eforms.

Management Response: The Company is a law abiding Company and has always endeavored to file the requisite filings with the authorities and now, shall ensure timely reporting of all intimations and eForms with the requisite authorities.

Further, rest of the comments/observations made by the Secretarial Auditor of the Company is self-explanatory and needs no explanation thereof.

Particulars of Loans, Guarantees or Investments

The company has not given any loans or guarantees of investments covered under the provisions of section 186 of the Companies Act, 2013.

Material Changes occurred between the end of financial year and date of report.

No material changes have occurred between the end of Financial year and the date of the Report.

Related Party Transaction

No new related party transaction was entered into during the current financial year. There are no materially significant related party transactions made by the company with Promoters, Key Managerial Personnel or other designated persons which may have potential conflict with interest of the company at large. The related party transaction policy is available on the Companys website at https://iecgroup.in/wp-content/uploads/2019/12/Related-Party-Transaction-Policy.pdf Form AOC-2 has been attached as Annexure C to Directors Report.

Conservation of Energy

a) Company ensures that its operations are conducted in the manner whereby optimum utilization and maximum possible saving s of energy is achieved.

b) No specific investment has been made in reduction in energy consumption.

c) As the impact of measures taken for conservation and optimum utilization of energy are not quantitative, its impact on cost cannot be stated accurately.

Technology Absorption

The present global scenario your Company strives to maintain and improve quality of its services and takes appropriate measures to keep pace with fast changing technological innovation.

Foreign Exchange Earnings and Out-Go

During the period under review there was no foreign exchange earnings or out flow.

Internal Control Systems and Their Adequacy / Risk Management

The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. To maintain its objectivity and independence, the Internal Audit function reports to the Chairman of the Audit Committee of the Board and to the Chairman & Managing Director. The Internal Audit Department monitors and evaluates the efficacy and adequacy of internal control system in the Company, its compliance with operating systems, accounting procedures and policies at all locations of the Company. Based on the report of internal audit function, process owners undertake corrective action in their respective areas and thereby strengthen the controls. Significant audit observations and recommendations along with corrective actions thereon are presented to the Audit Committee of the Board.

Corporate Social Responsibility

Company do not fall under the mandatory limits set for mandatory corporate social responsibility committee formation and contribution, but company ensures that being part of the society it is duty to give back to the society and take efforts to do it.

Performance of Subsidiaries / Joint Ventures and Associates

As per the provisions of first proviso of sub section (3) of section 129 of the Companies Act, 2013, read with rule 5 of Companies (Accounts) Rules, 2014, statement containing salient features of the financial Statement of Subsidiary Companies are given along with Consolidated Accounts in Form AOC - I. The Annual Accounts of Subsidiaries are prepared in accordance with applicable accounting standards and forms part of this Annual Report and accounts. The Annual Accounts of the Subsidiaries along with related detailed information will be made available to the Members of the Company / Subsidiary Company seeking such information at such point of time. The Annual Accounts of the Company are also available for inspection for any Member during the business hours at the Registered Office of the Company and Subsidiary Companies can the same can be accessed from the website of the Company http://iecgroup.in. In compliance with Regulation 24 of the SEBI (LODR) Regulations, 2015, the company has formulated Policy on Material Subsidiaries. The policy can be accessed at https://iecgroup.in/wp-content/uploads/2019/12/Policy-on-Material-Subsidiary.pdf

At present the company has three subsidiaries:

1. IEC Learning and Management Limited

2. IEC Education and Infrastructure Limited

3. IEC Leasing and Capital Management Limited

The company does not have any material subsidiary as of now and none of the company holds revenue of more than 10% of the revenue of their Holding Company. None of the subsidiary companies holds any major loans or investment.

Vigil Mechanism

Pursuant to the provisions of proviso to sub-section 10 of section 177 of the Companies Act, 2013, the Company has a vigil mechanism named Vigil Mechanism-Whistle Blower Policy to deal with instance of fraud and mismanagement, if any. In staying true to our values of Strength, Performance and Passion and in line with our vision of being one of the most respected companies in India, the Company is committed to the high standards of Corporate Governance and stakeholder responsibility. The Policy can be accessed on the website of the company https://iecgroup.in/wp-content/uploads/2019/12/Vigil-Mechanism-Whistle-Blower-Policy.pdf.

Particulars of Employees

As per the provisions of section 13 of the Companies Act, 2013, the Report of Accounts are being sent to all members of the Company excluding the information relating to Employees to be given under section 197(12) of the Companies Act, 2013 read with rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel), Rules, 2014. The said information would be available for inspection by the members at the Corporate Office of the Company i.e. E-216, East of Kailash, New Delhi - 110065 during business hours on working, up to the date of ensuing Annual General Meeting. If any member is interested in inspecting the same, such members may write to the Company Secretary in advance.

Code of conduct

As per regulation 17(5) of SEBI (LODR) Regulations, 2015, the Company has laid down Code of Conduct for all Board Members of the Company as well as Senior Management and same has been posted on website of the Company. Annual Compliance Report for the Year ended 31st March, 2020 has been received from all the Board Members and Senior Management of the Company regarding compliance of all the Provisions of Code of Conduct. Further pursuant to schedule V of SEBI (LODR) Regulations, 2015 declaration regarding compliance by Board members and senior management personnel with the Companies Code of Conduct is hereby attached as Annexure D to this report. Additionally, company has also adopted code of conduct for Independent Directors of the Company in accordance with Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

Report on Corporate Governance and Management Discussion and Analysis

The essence of existence of Corporate lies in good Corporate Governance Practice. Your Company has always adhered itself towards best governance practice. Your Company has maintained high level of integrity and transparency towards compliance of all laws, regulations, rules, guidelines whether provided by any enactment or issued by SEBI. As required under Regulation 34 of SEBI (LODR) Regulations, 2015 read with Schedule V to the said regulations, a report on Corporate Governance and Management Discussion and Analysis Report are annexed to this Annual Report and forms part of it. Further pursuant to Schedule V of SEBI (LODR) Regulations, 2015, a certificate from M/s Karan Khanna & Associates, Chartered Accountants, Delhi, the Statutory Auditors of the Company confirming compliance of conditions of Corporate Governance is annexed as Annexure E to this report.

Registrar and Share Transfer Agents

M/s Alankit Assignments Ltd., in the capacity of Registrar and Share Transfer Agents of your Company, is looking after all the matters relating to shares in transfer and dematerialization. Members are hereby requested to send their correspondence regarding transfer of shares, Demat of shares and other queries to Registrar and Share Transfer Agents Alankit Assignments Ltd. , 2E/21, Alankit House, Jhandewalan Ext., New Delhi - 110 055

Statutory Disclosure

None of the Directors of your Company is disqualified as per the provisions of section 164 of the Companies Act, 2013. The Directors of your Company has made necessary disclosure as required under various provisions of Companies Act, 2013 and Listing Agreement.

Listing of Shares

The shares of your Company are listed at Bombay Stock Exchange, Phirozee Jeejeebhoy Tower, 25th floor, Dalal Street, Mumbai-400001

Acknowledgment

Your Directors wish to place on record their gratitude in receipt of continued support and co-operation from various stakeholders including and not limiting to Shareholders, Customers, institutions, Governmental and Semi-Governmental Agencies, Consultants other business Associates and Employees of the Company.

Form No. MGT-9

Extract of Annual Return as on Financial Year ended March 31, 2020

[Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014]

I. Registration and other details

CIN L74899DL1994PLC061053
Registration Date 23.08.1994
Name of the Company IEC Education Limited
Category / Sub-Category of the Company Company Limited by Shares
Address of the Registered office and contact details M- 92,Connaught Place, New Delhi 110001
Whether listed company Yes / No Yes
Name, Address and Contact details of Registrar and Transfer Agent, if any Alankit Assignments Ltd, 2E/8, First Floor, Jhandewalan Extension, New Delhi 110055

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

S.No. Name and Description of main products / services NIC Code of the % Product/ service to total turnover of the company
No business activity carried during FY 2019-20

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

S.No. Name and Address of the Company CIN /GLN Holding / Associate / Subsidiary %age of Shares held Applicable Section
1. IEC Education and Infrastructure Limited U74120DL2008PLC173513 Subsidiary 51% 2 (87) (ii)
2. IEC Learning and Management Limited U74120DL2008PLC173540 Subsidiary 51% 2 (87) (ii)
3. IEC Leasing and Capital Management Limited U67120DL1997PLC084423 Subsidiary 99.72% 2 (87) (ii)

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)

i. Category wise Shareholding

Category of Shareholders

No. of Shares at the beginning of the year

No. of Shares at the end of the year

%age chang e during the year
Demat Physical Total %age of Shares Demat Physical Total %age of Shares
Promoter
Indian
Individual / HUF 10186350 10186350 66.75% 10186350 - 10186350 66.75% Nil
Central Govt. - - - - - - - - -
State Govt.(s) - - - - - - - - -
Bodies Corp. - - - - - - - - -
Bank / FI - - - - - - - - -
Any other -
Sub total (A1) 10186350 10186350 66.75% 10186350 - 10186350 66.75% Nil
Foreign
NRI - - - - - - - - - -
Individual
Other Individuals - - - - - - - - -
Bodies Corporate - - - - - - - - -
Bank / FI - - - - - - - - -
Any other - - - - - - - - -
Public Shareholding Institutions
Mutual Funds - - - - - - - - -
Bank / FI 100 - 100 0.00 100 - 100 0.00 Nil
C.G. - - - - - - - - -
S.G. (s) - - - - - - - - -
Venture Capital Funds - - - - - - - - -

 

Insurance Companies - - - - - - - - -
FIIs - - - - - - - - -
Foreign Venture Capital Funds - - - - - - - - -
Others (Specify) - - - - - - - - -
Subtotal (B1) 100 - 100 0.00 100 - 100 0.00 Nil
Non Institutions Bodies Corporate -
Indian 1286957 2300 1289257 8.45 1283476 2300 1285776 8.43 (.02)
)Overseas Individuals - - - - -
Individuals holding nominal share capital upto 2 Lakh 1350178 218602 1568780 10.27 1407085 216802 1623887 10.64 .36
Individual 1374079 400 1374479 9.00 1449714 400 1450114 9.50 0.50
Shareholders holding nominal share capital in excess of 2 Lakh
Others Specify 100 - 100 0.00 100 - 100 0.00 -
Clearing Members
HUF 127381 - 127381 0.83 2028 - 2028 0.01 (0.82)
NRI 129953 583600 713553 4.68 128045 583600 711645 4.66 (.02)
Subtotal(B1+B2) 4268748 804902 5073650 33.25 4270548 803102 5073650 33.25 -
Shares held by - - - - - - - - -
Custodian for GDRs & ADRs
Grand Total (A+B+C) 14455098 804902 15260000 100 14456898 803102 15260000 100 Nil

ii. Shareholding of Promoters

S.No. Shareholders

Shareholding at the beginning of the year

Share holding at the end of the year

% change in share holding during the year
Name No. of Shares % of total Shares of the company %of Shares Pledged / encumbered to total shares No. of Shares % of total Shares of the company %of Shares Pledged / encumbered to total shares
1. Naveen Gupta 4865815 31.89% 0.00 4865815 31.89% 0.00 0
2. R.L. Gupta 2255595 14.78% 0.00 2255595 14.78% 0.00 0
3. Sagrika Gupta 279366 1.83% 0.00 279366 1.83% 0.00 0
4. Shalini Gupta 2167835 14.21% 0.00 2167835 14.21% 0.00 0
5. Dheeraj Mangal 204192 1.34% 0.00 204192 1.34% 0.00 0
6. Neetu Mittal 25000 0.16% 0.00 25000 0.16% 0.00 0
7. Sneh Gupta 106905 0.70% 0.00 106905 0.70% 0.00 0
8. Sonia Gupta 240000 1.57% 0.00 240000 1.57% 1.00 0
9. Pushpa Mangal 41642 0.27% 41642 0.27% 0.00 0
Total 10186350 66.75% 0.00 10186350 66.75% 0.00 0

iii. Change in Promoters Shareholding

Name of Promoter

Shareholding at the beginning of the year

Date Increase / During during the year Reasons Cumulative Shareholding during the year
No. of Shares % of total Shares of the company No. of Shares % of total Shares of the company
No Change

iv. Shareholding pattern of top ten Shareholders (other than Directors, Promoters and holders of GDRs & ADRs)

S.No. Name of Shareholder

Shareholding at the beginning of the year

Date Increase / During during the year Reasons Cumulative Shareholding during the year
No. of Shares % of total Shares of the company No. of Shares % of total Shares of the company
1. Prem Khanna 580000 3.80 - - - 580000 3.80
2. Neeraj Singh 0 0.00 - 145000 - 145000 0.95
3. Evergreen Business 930000 6.09 - - - 930000 6.09
4. Religare Finvest Ltd. 221750 1.45 - - - 221750 1.45
5. Ajay Kumar Jain 121891 0.80 - 80000 - 201891 1.32
6. K.L. Gola 112006 0.73 - - - 112006 0.73
7. Sujit Mishra 127916 0.84 - - - 127916 0.84
8. Pardeep Kumar 211914 1.39 - - - 211914 1.39
9. Abhijit Kumar 155235 1.02 - - 155235 1.02
10. Girish Kumar Gupta 0 0.00 - 165000 - 165000 1.08

v. Shareholding pattern of Directors and KMP

S.No. Name of Director /KMP

Shareholding at the beginning of the year

Date Increase / During the year Reasons Cumulative Shareholding during the year
No. of Shares % of total Shares of the company No. of Shares % of total Shares of the company
1. Naveen Gupta 4865815 31.89% - - - 4865815 31.89%
2. Bijoy Kumar Pandit - - - - - - -
3. Sunil Kumar - - - - - - -
4. Anita Menon - - - - - - -
5. Jaideep Kumar Bhola - - - - - - -
6. Chander Veer Jain - - - - - - -
7. Bhishma Prasad Yadav 40880 0.27% - - - 40880 0.27%

V. INDEBTEDNESS

Indebtedness of the Company including interest outstanding/accrued but not due for payment

Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount - 168.19 - 168.19
ii) Interest due but not paid - - - -
iii) Interest accrued but not due - - - -
Total 168.19 168.19
Change in Indebtedness during the financial year
Addition - - - -
Reduction - - - -
Net change - - - -
Indebtedness at the end of the financial year
i) Principal Amount - 168.19 - 168.19
ii) Interest due but not paid - - - -
iii) Interest accrued but not due - - - -
Total (i+ii+iii) - 168.19 - 168.19

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

a. Remuneration to Managing Director, Whole-time Directors and/or Manager:

S.No. Particulars of Remuneration Name of MD/WTD/ Manager Dr. Naveen Gupta Total Amount
1. Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 - -
(b) Value of perquisites u/s 17(2) Income-tax Act, 1961 - -
(c) Profits in lieu of salary under section 17(3) Income- tax Act, 1961 - -
2. Stock Option - -
3. Sweat Equity - -
4. Commission
As %age of Profit - -
others specify - -
5. Others, Please Specify - -
6. Total - -

 

7. Ceiling as per the Act As per the provisions of section V of the Companies Act, 2013

b. Remuneration to other Directors

S.No. Fee for attending Board / Committee Meeting Commission Others Total
1. Independent Directors - - - -
Total (1) - - - -
2. Other Non Executive - - - -

 

Directors Overall ceiling as per the Act Not Applicable

Remuneration to Key Managerial Personnel Managing Director, Whole-time Directors and/or Manager:

S.No. Particulars of Remuneration CEO CEO & Company Secretary CFO Total
- 18,00,000 (Consolidated) 6,00,000 (Consolidated) 24,00,000
1. Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 - - - -
(b) Value of perquisites u/s 17(2) Income-tax Act, 1961 - - - -
(c) Profits in lieu of salary under section 17(3) Income- tax Act, 1961 - - - -
2. Stock Option - - - -
3. Sweat Equity - - - -
4. Commission
As %age of Profit - - - -
others specify - - - -
5. Others, Please Specify - -
6. Total - 18,00,000 6,00,000 24,00,000

VII. PENALTIES / PUNISHMENT / COMPOUNDING OF OFFENCES

Type Section of the Companies Act Brief description Details of Penalty / Punishment / Compounding fees imposed Authority (RD / NCLT / Court) Appeal made, if any
Company
Penalty - - - - -
Punishment - - - - -
Compounding - - - - -
Directors
Penalty
Punishment -
Compounding
Other Officers in Default
Penalty - - - - -
Punishment - - - - -
Compounding - - - - -