To
The Members,
Informed Technologies India Limited
Your Directors take pleasure in presenting the 65th (Sixty Fifth) Annual
Report of Informed Technologies India Limited along with the summary of Standalone and
Consolidated Financial Statements for the financial year ended March 31, 2023.
1. FINANCIAL PERFORMANCE:
The Companys financial performance (standalone and consolidated) for the year ended
March 31, 2023 is summarized below:
|
Standalone |
Consolidated |
Particulars |
2022-23 |
2021-22 |
2022-23 |
2021-22 |
Revenue from operations |
249.91 |
264.22 |
249.91 |
264.22 |
Other Income |
80.98 |
218.84 |
80.98 |
218.84 |
Total Revenue |
330.89 |
483.06 |
330.89 |
483.06 |
Profit/(Loss) before Finance Cost, Depreciation and Tax |
(25.05) |
223.12 |
(16.27) |
228.16 |
Less: Finance Cost |
5.19 |
4.53 |
5.19 |
4.53 |
Profit before Depreciation & Tax |
(30.24) |
218.59 |
(21.46) |
223.63 |
Less: Depreciation and Amortisation Expense |
31.71 |
25.79 |
31.71 |
25.79 |
Profit/ (Loss) before Tax |
(61.95) |
192.80 |
(53.17) |
197.84 |
Less: Tax Expense |
(8.16) |
46.48 |
(8.16) |
46.48 |
Profit/ (Loss) after tax for the year |
(53.79) |
146.32 |
(45.01) |
151.36 |
Total other comprehensive income (net of tax) |
17.42 |
53.25 |
17.42 |
53.25 |
Total comprehensive income for the year |
(36.37) |
199.57 |
(27.59) |
204.61 |
Earning Per Share |
|
|
|
|
Basic (in INR) |
(1.29) |
3.51 |
(1.08) |
3.63 |
Diluted (in INR) |
(1.29) |
3.51 |
(1.08) |
3.63 |
2. STATE OF COMPANYS BUSINESS AND FINANCIAL REVIEW:
STANDALONE:
The Company has posted a revenue from operations for the current year (F.Y. 2022-23) at
INR 249.91 Lakhs which was INR 264.22 Lakhs in F.Y. 2021-22. The Loss during the F.Y.
2022-23 was at INR 53.79 Lakhs as compared to Profit of INR 146.32 Lakhs in F.Y. 2021-22
translating to Basic Earnings Per Share at INR (1.29) for the F.Y. 2022-23 as against INR
3.51 in F.Y. 2021-22.
CONSOLIDATED:
The Company recorded operational revenue of INR 249.91 Lakhs during the F.Y. 2022-23 as
compared to INR 264.22 Lakhs in F.Y. 2021-22. The Loss during the F.Y. 2022-23 was at INR
45.01 Lakhs as compared to Profit of INR 151.36 Lakhs in F.Y. 2021-22 translating to Basic
Earnings Per Share at INR (1.08) for the F.Y. 2022-23 as against INR 3.63 in F.Y. 2021-22.
3. DIVIDEND:
In order to conserve capital for future investment plan, the Board of Directors does
not recommend any dividend for the financial year 2022-23.
4. TRANSFER TO RESERVES:
During the year under review, no amount was required to be transferred to General
Reserve.
5. CHANGE IN NATURE OF BUSINESS:
There was no change in nature of business during the year under review.
6. HOLDING/SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES:
Khandelwals Limited, a Company based in London, United Kingdom was the Holding Company
of our Company holding 64.24% shareholding in the Company. During the year Khandelwals
Limited got merged with Zeppelin Investments Private Limited (an Indian Entity) resulting
in transfer of shares to Zeppelin Investments Private Limited. Now, Zeppelin Investments
Private Limited is the holding Company of our Company.
The Company has One Associate Company "Entecres Labs Private Limited". The
Company does not have Subsidiary Companies /Joint Ventures. During the year no Company has
become or ceased to be subsidiary or associate of the Company.
7. PERFORMANCE OF ASSOCIATE:
Entecres Labs Private Limited, associate of the Company generated a revenue from
operations of INR 826.72 Lakhs in the year under review. The profit during the F.Y.
2022-23 was at INR 31.88 Lakhs as compared to Profit of INR 18.25 Lakhs in F.Y. 2021-22.
8. CONSOLIDATED FINANCIAL STATEMENTS:
A statement containing the salient features of the Financial Statements including the
performance and financial position of Entecres Labs Private Limited, Associate as per the
provisions of the Companies Act, 2013 (the "Act"), is provided in the prescribed
Form AOC-1 which is annexed as "Annexure A".
9. DEPOSITS:
In terms of the provision of Sections 73 and 74 of the Companies Act, 2013 read with
the relevant rules, the Company has not accepted any public deposits during the year under
review.
10. SHARE CAPITAL:
During the year, the Company has not issued shares with differential voting rights, nor
has granted any stock options or sweats equity, no bonus shares were issued by the
Company. There was no provision made by the Company for purchase of its own shares by
employee or by the trustee. As on March 31, 2023, none of the Directors of the Company
hold instruments convertible into equity shares of the Company. During the year, there was
no change in the Share Capital of the Company. As on March 31, 2023, the issued,
subscribed and paid-up share capital of your Company stood at INR 4,16,91,000/- comprising
41,69,100 Equity shares of INR 10/- each.
11. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
The Management Discussion and Analysis Report on the operations of the Company, as
required under the Listing Regulations forms an integral part of this Report, which is
annexed as "Annexure B".
12. CORPORATE GOVERNANCE:
As per regulation 15 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 provisions of regulation 27 and para C of Schedule V of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 shall not apply to the Company.
As such there is no requirement to attach the corporate governance report.
13. BUSINESS RESPONSIBILITY REPORT:
Our Company is not covered under top one thousand listed entities based on market
capitalization, hence Business Responsibility Report is not applicable to the Company.
14. ANNUAL RETURN:
Pursuant to the provisions of section 92 (3) of Companies Act, 2013, the Annual Return
of the Company as on 31 March, 2023, will be made available on the Companys Website after
the ensuing Annual General Meeting and can be accessed at the web link:
https://informed-tech.com/investors/annual-returns/ .
15. DIRECTORS AND KEY MANAGERIAL PERSONNEL:
The Company is well supported by the knowledge and experience of its Directors and Key
Managerial Personnel.
In accordance with the Articles of Associations of the Company and the provisions of
Section 152 of the Companies Act, Ms. Sia Khandelwal (DIN: 09281195) will retire by
rotation at the ensuing AGM and being eligible, has offered herself for re-appointment.
The resolution seeking Members approval for her re-appointment forms part of the AGM
Notice. The Board of Directors of your Company has recommended her appointment at the
ensuing AGM.
The Nomination and Remuneration Committee, on the basis of performance evaluation of
the Independent Director and taking into account the external business environment, the
business knowledge, experience and the contribution made by Mr. Virat Mehta during his
tenure, has recommended to the Board to re-appoint Mr. Virat Mehta as an Independent
Director of the Company for the second term. The board recommends his re-appointment as a
NonExecutive, Independent Director of the Company.
During the year, Ms. Tara Khandelwal was appointed as an Additional Non-Executive
Director of the Company w.e.f. 30th August, 2022, by the Board of Directors at
the board meeting held on 30th August, 2022, to hold office up to the date of
64th Annual General Meeting and was subsequently re-appointed as Non-Executive
Director at the 64th Annual General Meeting held on 23rd September,
2022.
During the year, Ms. Anita Pagare was appointed as Company Secretary and Compliance
Officer of the Company w.e.f. 9th August, 2022. She resigned from the post
w.e.f. 27th January, 2023.
All the Directors of the Company have confirmed that they are not disqualified from
being appointed as Directors in terms of Section 164 of the Companies Act, 2013 and not
debarred or disqualified by the SEBI / Ministry of Corporate Affairs or any such statutory
authority from being appointed or continuing as Director of the Company or any other
Company where such Director holds such position in terms of Regulation (10)(i) of Part C
of Schedule V of Listing Regulations.
The Company has following persons as Key Managerial personnel as on the date of this
report:
Sr. No. |
Name of the person |
Designation |
1 |
Mrs. Roshan DSouza |
Chief Financial Officer |
2 |
Mr. Nilesh Mohite |
Manager |
3 |
Ms. Neha Rane |
Company Secretary and Compliance Officer |
16. DECLARATION OF INDEPENDENCE:
The Independent Directors of the Company have submitted the declaration of independence
as required under Section 149(7) of the Companies Act, confirming that they meet the
criteria of independence under Section 149(6) of the Companies Act and Regulation 16 of
SEBI LODR Regulations. In the opinion of the Board, the Independent Directors fulfill the
conditions specified in these regulations and are independent of the management. There has
been no change in the circumstances affecting their status as Independent Directors of the
Company.
In the opinion of the Board, the independent directors possess the requisite integrity,
expertise, experience (including proficiency) and qualifications.
In compliance with rule 6(1) of the Companies (Appointment and Qualification of
Directors) Rules, 2014, the Independent Directors of the Company have registered
themselves with the Independent Directors databank maintained by the Indian Institute of
Corporate Affairs.
17. FAMILIARIZATION PROGRAM:
Your Company has been regularly familiarizing the Independent Directors on its Board on
the Company operations, strategic business plans. Apart from above, Independent Directors
are also familiarized through various regulatory developments, changes in laws.
18. BOARD EVALUATION:
Pursuant to the provisions of the Companies Act, 2013 and applicable provision of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, a structured
questionnaire was prepared as per the requirement of the act which included various
aspects of Boards and Committees functioning, Composition of the Board and its Committees,
functioning of the Individual directors, board diversity. The aspects covered in the
evaluation included the contribution to and monitoring of corporate governance practices
and the fulfillment of Directors obligations and fiduciary responsibilities, including
but not limited to, active participation at the Board and Committee meetings.
The evaluation of all directors, committees chairman of the board and the board as
whole was conducted based on the criteria and framework and the board expressed their
satisfaction with the evaluation process.
19. COMMITTEES:
A. AUDIT COMMITTTE
The Audit Committee acts as an interface between the Statutory and Internal Auditors,
the Management and the Board of Directors. It assists the Board in fulfilling its
responsibilities of monitoring financial reporting processes, reviewing the Companys
established systems and processes for internal financial controls and governance and
reviews the Companys statutory and internal audit processes. The Committee is governed by
its defined scope as per Companies Act & Listing Regulations, which is in line with
the regulatory requirements mandated by the Act and the Listing Regulations.
Table below provides the composition of the Audit Committee:
Composition of Audit Committee
Sr.
No. |
Name of Director |
Designation |
1 |
Mr. Nimis Sheth |
Chairman |
2 |
Mr. Gautam Khandelwal |
Member |
3 |
Mr. Virat Mehta |
Member |
The Chairperson of the Audit Committee was present at the Annual General Meeting to
answer members queries.
Ms. Neha Rane, the Company Secretary serves as the Secretary to the Audit Committee.
B. STAKEHOLDER RELATIONSHIP COMMITTEE:
The Stakeholders Relationship Committee looks into redressal of the grievances of
shareholders including investor complaints relating to transfer of shares, issue of
duplicate share certificates, non-receipt of annual reports, nonreceipt of dividends
declared and other matters related to securities of the Company.
Mr. Nimis Sheth, Independent Director is the Chairperson of Committee. The composition
of Committee as at March 31,2023 is as under:
Composition of Stakeholders Relationship Committee
Sr. No. |
Name of Director |
Designation |
1 |
Mr. Nimis Sheth |
Chairman |
2 |
Mr. Gautam Khandelwal |
Member |
3 |
Mr. Virat Mehta |
Member |
Mr. Nimis Sheth, Chairperson of the Committee was present at the Annual General Meeting
of the Company held on September 23, 2022 for answering the queries by the shareholders.
Ms. Neha Rane, Company Secretary of the Company acts as the Compliance Officer to
oversee the redressal of the investor grievances.
C. NOMINATION AND REMUNERATION COMMITTEE
The constitution, scope and powers of the Nomination & Remuneration Committee of
the Board of Directors, are in accordance with the provisions of Section 178 of the Act
and Regulation 19 of Listing Regulations. The Nomination & Remuneration Committee
observes the requirements pertaining to the appointment and remuneration of the Managing
Director & Chief Executive Officer, executive directors, Key Managerial Personnel.
The composition of the Nomination & Remuneration Committee is given in Table below:
Composition of Nomination & Remuneration Committee
Sr. No. |
Name of Director |
Designation |
1 |
Mr. Nimis Sheth |
Chairman |
2 |
Mr.Gautam Khandelwal |
Member |
3 |
Mr. Virat Mehta |
Member |
Mr. Nimis Sheth, Chairperson of the Committee was present at the last Annual General
Meeting of the members of the Company to answer the queries of shareholders.
Ms. Neha Rane, Company Secretary of the Company acts as the Secretary to the Nomination
& Remuneration Committee.
D. RISK MANAGEMENT COMMITTEE:
As the Company is not covered under Top One Thousand (1000) listed entities as per
market capitalization, the provisions of Regulation 21 of Listing Regulations are not
applicable to the Company.
20. MEETINGS:
A. BOARD MEETINGS
During the year, the Board of Directors met 5 (Five) times. The gap between two
meetings did not exceed 120 days. Details of Board Meetings are as follows:
Sr. No. |
Date of Meetings |
No. of Directors attended the Meeting |
1 |
20/05/2022 |
4/4 |
2 |
09/08/2022 |
4/4 |
3 |
30/08/2022 |
4/4 |
4 |
14/11/2022 |
5/5 |
5 |
13/02/2023 |
4/5 |
Mr. Gautam Khandelwal, Mr. Virat Mehta and Mr. Nimis Sheth have attended all the
meetings during the year. B. COMMITTEES MEETINGS OF THE BOARD AND ATTENDANCE AT LAST AGM:
The details of committee meetings attended as on March 31,2023 are as under:
Name
of
Director(s) |
Audit Committee |
Stakeholder Relationship
Committee |
Nomination and
Remuneration
Committee |
Attendance at Last AGM |
|
No. of Meetings attended/ Out of |
No. of Meetings attended/ Out of |
No. of Meetings attended/ Out of |
|
Mr. Nimis Sheth |
4/4 |
4/4 |
3/3 |
Yes |
Mr. Gautam Khandelwal |
4/4 |
4/4 |
3/3 |
Yes |
Mr. Virat Mehta |
4/4 |
4/4 |
3/3 |
Yes |
Notes:
The Audit Committee met 4 (Four) times during the year i.e. on 20th May,
2022, 9th August, 2022, 14th November, 2022 and 13th
February, 2023. The gap between two meetings did not exceed 120 days.
The Stakeholders Relationship Committee met 4 (Four) times during the year i.e. on 20thMay,
2022, 9th August, 2022, 14th November, 2022 and 13th
February, 2023.
Nomination and Remuneration Committee met 3 (Three) times during the year i.e. on 20th
May, 2022, 9th August, 2022 and 30th August, 2022.
C. GENERAL MEETINGS:
Annual General Meeting of the Company was held on September 23, 2022. No Extra-Ordinary
General Meetings was held during the period under review.
D. MEETING OF INDEPENDENT DIRECTORS:
During the year, the Independent Director meeting was held on 13th February, 2023 as
required by regulation 25 of SEBI (LODR) Regulations, 2015.
21. NOMINATION AND REMUNERATION POLICY:
The policy of the Company on directors appointment and remuneration, including
criteria for determining qualifications, positive attributes and independence of a
Directors, Key Managerial Personnel and Senior Management and other matters provided under
of Section 178(3) of the Companies Act, 2013 is adopted by the Board and may be accessed
on Companys website at the link: https://informed-tech.com/investors/corporate-
governance/ . We affirm that the remuneration paid to the directors is as per the terms
laid out in the nomination and remuneration policy of the Company. Further, the Nomination
and Remuneration Committee devises the policy on Board diversity to provide for having a
broad experience and diversity on the Board.
22. LOANS, GUARANTEES OR INVESTMENTS:
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.
23. INTERNAL FINANCIAL CONTROLS:
The details in respect of internal financial control and their advocacy are included in
the management discussion and analysis which forms part of this Annual Report.
24. STATUTORY AUDITORS, THEIR REPORT AND NOTES TO FINANCIAL STATEMENTS:
M/s. Parekh Sharma and Associates, Chartered Accountants (Firm Registration No.
129301W) were appointed as the Statutory Auditors of the Company as per the provisions of
Section 139 of the Companies Act, 2013 to hold office from the conclusion of the 64th
Annual General Meeting (AGM) held on September 23, 2022 until the conclusion of the 69th
AGM of the Company to be held in the year 2027.
The Audit Committee reviews the independence of the Auditors and the effectiveness of
the Audit process. For the financial year 2022-23, the total fees paid by the Company to
the Auditors for all the services provided by them was INR 4,25,000/- (Indian Rupees Four
Lacs Twenty-Five Thousand Only).
The Notes on financial statement referred to in the Auditors Report are
self-explanatory and do not call for any further comments. The Auditors Report does not
contain any qualification, reservation or adverse remark.
25. INTERNAL AUDITORS:
In terms of Section 138 of the Companies Act, 2013 and the rules made there under, M/s.
M. V. Ghelani & Co., Chartered Accountants (ICAI Registration No. 119077W) are
Internal Auditors of the Company. The audit committee of the Board of Directors in
consultation with the Internal Auditors, formulates the scope, functioning, periodicity
and methodology for conducting the internal audit.
26. SECRETARIAL AUDITOR AND REPORTS:
The Board of Directors of the Company has appointed M/s. DSM & Associates,
Practicing Company Secretaries, to conduct the Secretarial Audit and their Report on
Companys Secretarial Audit is appended to this Report as "Annexure C". There
are no qualifications, reservations or adverse remarks or disclaimers made by M/s. DSM
& Associates, Company Secretary in practice, in their Secretarial Audit Report for the
financial year 2022-23.
27. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS:
During the year under review, the Statutory Auditors and Secretarial Auditor have not
reported any instances of frauds committed in the Company by its officers or Employees to
the Audit Committee or to Central Government under section 143(12) of the Companies Act,
2013, details of which needs to be mentioned in this Report.
28. COMPLIANCE OF SECRETARIAL STANDARDS:
The Company has complied with Secretarial Standards issued by the Company Secretaries
of India on Board Meetings and Annual General Meetings.
29. RELATED PARTY TRANSACTIONS:
There have been no materially significant related party transactions between the
Company and the Directors, the management, the key managerial personnel or their relatives
except for those disclosed in the financial statements.
Accordingly, particulars of contracts or arrangements with related parties referred to
in Section 188(1) along with the justification for entering into such contract or
arrangement in Form AOC-2 does not form part of the report.
The policy on Related Party Transactions as approved by the Board is uploaded on the
Companys website and can be accessed at the Web link:
https://informed-tech.com/investors/corporate-governance/.
30. VIGIL MECHANISM AND WHISTLE BLOWER POLICY:
The Company has adopted a Vigil Mechanism and Whistle Blower Policy to provide a
mechanism for the directors and employees to report genuine concerns about any unethical
behaviour, actual or suspected fraud or violations of the Companys Code of Conduct. The
provisions of this policy are in line with the provisions of Section 177 (9) of the Act.
The policy can be accessed on the companys website at following link https://informed-
tech.com/investo rs/co rporate-governan ce/ .
31. RISK MANAGEMENT:
The Company is aware of the risks associated with the business. The Senior Managements
regularly analyses and takes corrective actions for managing / mitigating the same. In
terms of the requirement of the Act, the Company has authorized Senior Management to
manage, monitor and report on the principal risks and uncertainties that can impact the
ability to achieve the Companies strategic objectives. The Senior Management periodically
informs the board on various issues along with its recommendations and comments for
Boards review and necessary action.
32. CORPORATE SOCIAL RESPONSIBILITY (CSR):
Since the CSR norms are not applicable to the Company hence, the disclosures as per
Rule 9 of the Companies (Corporate Social Responsibility Policy) Rules, 2014 are not
required to be made.
33. IEPF SHARE TRANSFER AND NODAL OFFICER:
As per Companies act, 2013 the Company has transferred 15,427 Equity shares to Investor
Education and Protection fund. Further, Ms. Neha Rane, Company Secretary and compliance
officer is the Nodal Officer for IEPF.
34. PARTICULARS OF EMPLOYEES:
In accordance with the requirements of Section 197(12) read with Rule 5 of The
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended
from time to time, the disclosures with respect to the remuneration of directors and
employees has been appended as "Annexure D"to this Report.
35. CEO AND CFO CERTIFICATION:
In accordance with the requirements of Regulation 17(8) of SEBI (Listing Obligation and
Disclosure Requirements) Regulations, 2015, CEO and CFO have given appropriate
certifications to the Board of Directors and the same has been appended as "Annexure
E"to this Report.
36. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS:
There were no significant material orders passed by the regulators or courts or
tribunals which may impact the going Concern status and Companies operations.
37. MATERIAL CHANGES AND COMMITMENTS:
There were no material changes and commitments affecting the financial position of the
Company, which have occurred between the end of the financial year of the Company to which
this report relates and the date of the report except as otherwise mentioned in this
director report, if any.
There had been no changes in the nature of Companies business. To the best of
information and assessment there has been no material changes occurred during the
financial year, generally in the classes of business in which the Company has an interest
except as otherwise mentioned in this director report, if any.
38. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGO:
Disclosures pertaining to conservation of energy, technology absorption are not
applicable to the Company during the year under Review.
The Company has not undertaken any R&D activity in the current year.
The Company has not imported any technology during the year.
During the year, the foreign Exchange outgo was INR NIL (Previous year - Nil). The
Foreign Exchange earning was INR 249.91 Lakhs (Previous year INR 264.21 Lakhs).
39. COST RECORD:
Maintenance of cost records as specified under Section 148(1) of the Act is not
applicable to your Company.
40. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013:
The Company has in place Prevention of Sexual Harassment at Workplace Policy in line
with the requirements of the Sexual Harassment of Women in the Workplace (Prevention,
Prohibition & Redressal) Act, 2013 ("POSH"). Internal Complaints Committee
(ICC) has been set up to redress complaints received regarding sexual harassment. All
employees (permanent, contract, temporary, trainees) are covered under this policy.
Following is a summary of Sexual Harassment Complaints received and disposed off during
the year 2022-2023.
No. of Complaint received |
No. of Complaints disposed off |
No. of Complaints pending |
NIL |
NIL |
NIL |
41. DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 134 (3) (c) and 134 (5) of the Companies Act, 2013, the Board of
Directors, to the best of their knowledge and ability, confirm that:
i) in the preparation of the annual accounts, the applicable accounting standards have
been followed and that there are no material departures;
ii) they 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 at the end of the financial year and of the loss of the Company for that
year;
iii) they have taken proper and sufficient care to the best of their knowledge and
ability, for the maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities;
iv) the annual accounts have been prepared on a going concern basis;
v) they have laid down internal financial controls to be followed by the Company and
such internal financial controls are adequate and operating effectively; and
vi) they have devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.
42. DEMATERIALIZATION OF SHARES:
Your Companys equity shares are available for dematerialisation through National
Securities Depository Limited and Central Depository Services (India) Limited. As on March
31, 2023, 95.83% of the Companys paid-up equity share capital is in dematerialized form
and balance 4.17% is in physical form. The Companys Registrar and Share Transfer Agent is
M/s. Link Intime India Pvt. Ltd. having office at C-101,247 Park, LBS Marg, Vikhroli -
(W), Mumbai - 400083.
43. INTEGRITY, EXPERTISE AND EXPERIENCE (INCLUDING THE PROFICIENCY) OF THE INDEPENDENT
DIRECTORS APPOINTED DURING THE YEAR:
No Independent Director was appointed during the year under review.
44. PROCEEDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016:
There is no proceeding pending under the Insolvency and Bankruptcy Code, 2016 during
the year under review.
45. THE DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE
TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL
INSTITUTIONS ALONG WITH THE REASONS THEREOF:
During the year under review, there were no instances of onetime settlement with any
Bank or Financial Institution.
46. DISCLOSURE WITH RESPECT TO DEMAT SUSPENSE ACCOUNT/UNCLAIMED SUSPENSE ACCOUNT:
The Company does not have any Shares lying in Demat Suspense Account or Unclaimed
Suspense Account.
ACKNOWLEDGEMENTS:
Your Board of Directors wishes to place on record their appreciation for the
whole-hearted cooperation received by the Company from the Shareholders, various
Government departments, Business Associates, Company/s Bankers and all the employees
during the year.
|
For and on Behalf of Board of Directors of |
|
Informed Technologies India Limited |
|
sd/- |
|
Gautam Khandelwal |
Place: Mumbai |
Non-Executive Chairman |
Date: August 07, 2023 |
DIN: 00270717 |
+91-9892691696
