To,
The Members,
Your Directors have pleasure in presenting the 6th Annual Report on the
business and operations of the Company, together with the audited standalone and
consolidated financial statements for the financial year ended March 31, 2023 ("FY
2022-23").
FINANCIAL RESULTS
The standalone and consolidated financial performance of the Company is summarised in
the table below:
(Rs. in Lakhs)
|
Consolidated |
Standalone |
Particulars |
Year ended March 31, 2023 |
Year ended March 31, 2022 |
Year ended March 31, 2023 |
Year ended March 31, 2022 |
| Revenue from Operations including other Income |
20,734.66 |
14,804.35 |
20,617.88 |
14,794.22 |
Less: Expenses |
|
|
|
|
| Cost of material consumed |
90.13 |
- |
- |
- |
| Purchase of Stock in Trade |
1,528.58 |
1,226.97 |
1,528.58 |
1,159.16 |
| Changes in Inventories of Stock in Trade |
121.69 |
292.24 |
165.44 |
351.96 |
| Employee Benefit Expenses |
4,450.02 |
3,379.64 |
4,343.52 |
3,374.66 |
| Finance Cost |
70.44 |
113.97 |
70.23 |
113.97 |
| Depreciation and Amortisation Expenses |
320.04 |
331.09 |
312.75 |
330.59 |
| Other Expenses |
9,769.30 |
7,951.16 |
9,744.36 |
7,947.09 |
Total Expenses |
16,305.20 |
13,295.07 |
16,164.88 |
13,277.43 |
Profit before exceptional and extraordinary items and tax |
4,429.46 |
1,509.28 |
4,453.00 |
1,516.79 |
| Exceptional and Extraordinary items |
- |
- |
- |
- |
Profit Before Tax |
4,429.46 |
1,509.28 |
4,453.00 |
1,516.79 |
| Tax Expenses |
1,077.21 |
389.89 |
1,078.56 |
389.55 |
Net Profit for the Year |
3,352.25 |
1,119.39 |
3,374.44 |
1,127.24 |
FINANCIAL PERFORMANCE STANDALONE:
During the current period, your company has shown an increase in total revenue of Rs.
20,617.88 Lakhs as against
Rs. 14,794.22 Lakhs in the previous year on standalone basis. The Company has earned a
net profit of Rs. 3,374.44 Lakhs as compared to a profit of Rs. 1127.24 Lakhs in the
previous year. The company will continue to pursue expansion in the domestic market, to
achieve sustained and profitable growth.
CONSOLIDATED:
Shuddhi Green Charcoal Private Limited was our subsidiary at the beginning of the
Financial Year 2022-2023. However, during the Financial Year it ceases to be our
subsidiary w.e.f. March 30, 2023. Further, pursuant to the provisions of section 129, 134
& 136 of the Companies Act, 2013 read with rules framed there under and pursuant to
Regulation 33 of SEBI (Regulations, 2015 your Company had prepared consolidated financial
statements of the Company and its subsidiary i.e., Shuddhi Green Charcoal Private Limited
(CIN: U37200HR2021PTC099839) which forms part of this annual report.
During the current period, your company has shown the consolidated total revenue of Rs.
20,734.66 Lakhs. The company has earned a net profit of Rs. 3,352.25 Lakhs.
As per Rule 8 of Companies (Accounts) Amendments Rules, 2016, a report on the
highlights of performance of subsidiaries, associates and joint venture companies and
their contributions to the overall performance of the company during the period under
report is attached as Annexure-1.
Any member intending to have a copy of Balance Sheet and other Financial Statement of
these Companies shall be made available on the website of the Company at www.jeenasikho.co.in.
It shall also be kept for inspection during business hours by any shareholder in the
registered office of the Company and the respective offices of its subsidiary companies.
SHARE CAPITAL
Authorised Share Capital
During the year under review, the Authorised Share Capital of the company as on March
31, 2023 is Rs. 15,00,00,000/-(Rupees Fifteen Crore Only) divided into 1,50,00,000 (One
Crore Fifteen lakh) Equity Shares of Rs. 10/- each.
Paid Up Share Capital
The paid-up share capital of the Company as on March 31, 2023 is Rs. 13,81,11,920/-
divided into 1,38,11,192 equity shares of Rs.10/- each ranking pari-passu in all respect
with the existing Equity shares of the Company.
LISTING WITH STOCK EXCHANGES
The equity shares of the company is listed on Emerge Platform of National Stock
Exchange of India Limited w.e.f. April 19, 2022 and the Company confirms that it has paid
the Annual Listing Fees for the year 2022-23 to NSE Limited.
DEMATERIALISATION OF EQUITY SHARES
All the Equity shares of the Company are in dematerialised form with either of the
depositories viz NSDL and CDSL. The ISIN No. allotted to the company is INE0J5801011.
DIVIDEND
During the year, the company has not declared any dividend to its shareholders.
However, for Financial Year 2022-23 the Board of directors of company in its Board Meeting
dated May 29, 2023, had concluded to recommend a dividend of Rs. 2/- (i.e., 20% percent
per equity share) on face value of Rs. 10/- (Rupees Ten only) each to its shareholders
which shall be subject to the approval of the shareholders in the ensuing Annual General
Meeting of the Company. The dividend payment is subject to approval of the members at the
6th Annual General Meeting, which will be paid, if declared, to the
shareholders within 30 days from the date of declaration.
TRANSFER TO GENERAL RESERVE
The Company has not transferred any amount to General Reserve during the year.
DEPOSITS
During the year under review, the Company has not accepted or renewed any deposit from
the public falling within the ambit of section 73 or section 74 of the Companies Act, 2013
and the Companies (Acceptance of Deposits) Rules, 2014.
CORPORATE GOVERNANCE
The Company is listed on SME Emerge Platform of NSE, by virtue of Regulation 15 of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the compliance
with the corporate governance provisions as specified in Regulation 17, 17A, 18, 19, 20,
21, 22, 23, 24, 24A, 25, 26, 27 clauses (b) to (i) and (t) of sub regulation 2 of
Regulation 46 and Para C, D and E of Schedule V are not applicable to the Company. Hence,
the Corporate Governance Report does not form part of this Annual Report.
SUBSIDIARIES/ASSOCIATES/JOINT VENTURE
The Company had One Subsidiary Company, namely Shuddhi Green Charcoal Private Limited
at the beginning of Financial Year 202-23. However, it ceases to be our subsidiary w.e.f.
March 30, 2023. Further as on the date of end of financial year i.e., w.e.f. March 31,
2023 your company does not have any subsidiaries/associate and/or joint venture.
However, pursuant to Section 129 (3) of the Act and Ind - AS 110 issued by the
Institute of Chartered Accountants of India, Consolidated Financial Statements presented
by the Company include the financial statements of its subsidiaries.
Further, a separate statement containing the salient features of the financial
statements of subsidiaries of the company in the prescribed form AOC-1 has been disclosed
in Annexure-1.
The Financial Statements, as required, of the subsidiary companies shall be available
on website of the Company at www.jeenasikho.co.in.
DIRECTORS
Pursuant to Section 149, 152 and other applicable provisions of the Companies Act,
2013, one-third of such of the Directors are liable to be retire by rotation, shall retire
every year and, if eligible, offer themselves for re-appointment at every AGM.
Consequently, Mrs. Bhavna Grover (DIN: 07557913), director of the company will retire by
rotation at the ensuing AGM, and being eligible, offers himself for re-appointment in
accordance with provisions of the Act.
With regard to integrity, expertise and experience (including the proficiency) of the
Independent Director appointed, the Board of Directors have taken on record the
declarations and confirmations submitted by the Independent Director and is of the opinion
that he is a person of integrity and possesses relevant expertise and experience and his
continued association as Director will be of immense benefit and in the best interest of
the Company. With regard to proficiency of the independent Director, ascertained from the
online proficiency self-assessment test conducted by the Institute, as notified under
Section 150(1) of the Act, the Board of Directors have taken on record the information
submitted by Independent Director that he has complied with the applicable laws.
Further, in the opinion of the Board, the independent directors appointed during the
financial year are the person of integrity and possesses relevant expertise and experience
(including the proficiency).
None of the Directors of the Company, except following, are related inter-se, in terms
of section 2(77) of the Act including rules made thereunder.
S No. |
Name of Director |
Relationship with another Director |
| 1. |
Manish Grover |
Spouse of Bhavna Grover |
|
|
Father of Shreya Grover |
| 2. |
Bhavna Grover |
Spouse of Manish Grover |
|
|
Mother of Shreya Grover |
| 3. |
Shreya Grover |
Daughter of Manish Grover |
|
|
and Bhavna Grover |
DECLARATION BY INDEPENDENT DIRECTORS
Mr. Suraj Prakash Choudhary and Mr. Karan Vir Bindra are independent directors of the
company. The Company has received declarations / confirmations from all the Independent
Directors of the Company at its first board meeting of the Financial Year 2022-23 as
required under Section 149(7) of the Companies Act, 2013, read with Rule 6 of the
Companies (Appointment and Qualification of Directors) Rules, 2014.
FAMILIARISATION PROGRAMME OF INDEPENDENT DIRECTORS
Periodic presentations are made at the Board and Committee meetings on business and
performance updates of the Company and business strategy. The Company has done various
programmes to familiarise Independent Directors with the Company, responsibilities in the
Company, nature of the industry in which the Company operates, business model of the
Company and other related matters.
Details of the familiarisation programme for Independent Directors are explained in the
Corporate Governance Report.
REMUNERATION OF DIRECTORS
The details of remuneration/Sitting fees paid during the financial year 2022-23 to
Executive Directors/ Non-Executive Directors of the Company is provided in Form MGT-9
which forms part of this report.
POLICY ON CODE OF CONDUCT FOR DIRECTORS AND SENIOR MANAGEMENT
The policy on appointment of Board members including criteria for determining
qualifications, positive attributes, independence of a director and the policy on
remuneration of directors, KMP and other employees is enclosed as "Annexure-2"
respectively to this report. The same are also available on the website of the Company at
www.jeenasikho.co.in at weblink https://www.jeenasikho.co.in/ policies.
CHANGE IN OBJECTS OF ISSUE FOR UTILISATION OF PROCEEDS OF INITIAL PUBLIC OFFERING (IPO)
The Board of directors of the company at its Board meeting dated November 29, 2022,
approved for change in object of issue for utilisation of the proceeds of the Initial
Public Offer (IPO) which shall subsequently also be approved by the shareholders of the
company by passing special Resolution at its meeting held on December 31, 2022.
COMMITTEES OF THE BOARD
The Committees of the Board focus on certain specific areas and make an informed
decisions in line with the delegated authority.
The following Committees constituted by the Board function according to their
respective roles and defined scope:
1. Audit Committee
2. Nomination and Remuneration Committee
3. Stakeholder relationship Committee
4. Corporate Social Responsibility Committee
During the year under review, all recommendations made by the various committees have
been accepted by the Board.
The Composition of the Said Committees are as Under:
Audit Committee:
As on date, the Audit Committee comprises of:
Name of Director |
Designation of Committee |
Nature of Directorship |
| Mr. Suraj Kumar Choudhary |
Chairperson |
Independent Director |
| Mr. Karan Vir Bindra |
Member |
Independent Director |
| Mr. Manish Grover |
Member |
Managing Director |
Our Company Secretary and Compliance officer will act as the secretary of the
Committee.
Nomination And Remuneration Committee:
As on date the Nomination and Remuneration Committee comprises of:
Name of Director |
Designation of Committee |
Nature of Directorship |
| Mr. Karan Vir Bindra |
Chairperson |
Independent Director |
| Mr. Suraj Kumar Choudhary |
Member |
Independent Director |
| Ms. Shreya Grover |
Member |
Non- Executive Director |
Our Company Secretary and Compliance officer will act as the secretary of the
Committee.
Stakeholders Relationship Committee:
As on date the Stakeholders‘ Relationship Committee comprises of:
Name of Director |
Designation of Committee |
Nature of Directorship |
| Mr. Suraj Kumar Choudhary |
Chairperson |
Independent Director |
| Mrs. Bhavna Grover |
Member |
Whole Time Director |
| Ms. Manish Grover |
Member |
Managing Director |
Our Company Secretary and Compliance officer will act as the secretary of the
Committee.
Corporate Social Responsibility Committee:
The Company has constituted CSR Committee. As on date CSR committee comprises of:
Name of Director |
Designation |
Nature of Directorship |
| Karan Vir Bindra |
Chairman |
Independent Director |
| Manish Grover |
Member |
Managing Director |
| Bhavna Grover |
Member |
Whole Time Director |
VIGIL MECHANISM / WHISTLE BLOWER POLICY:
Pursuant to the provisions of Section 177(9) & (10) of the Companies Act, 2013, a
Vigil Mechanism/Whistle Blower Policy for directors and employees to report their genuine
concerns has been established. The Vigil Mechanism / Whistle Blower Policy has been
uploaded on the website of the Company at https://www.jeenasikho.co.in/policies under
‘Investor Section.
The Policy is an extension of the Code of Conduct for Directors & Senior Management
Personnel and covers any unethical and improper actions or malpractices and events which
have taken place/suspected to take place:
As per the policy all Protected Disclosures should be addressed to the Vigilance
Officer / Company Secretary or to the Chairman of the Audit Committee in exceptional
cases.
RISK MANAGEMENT POLICY
The Company has in place a mechanism to identify, assess, monitor and mitigate various
risks to key business objectives. Major risks identified by the businesses and functions
are systematically addressed through mitigating actions on a continuing basis. Major
elements of risk/threats for Ayurveda Industry are regulatory concerns, consumer
perceptions and competition. These are discussed at the meetings of the Audit Committee
and the Board of Directors of the Company. The Board of Directors has adopted a risk
management policy for the company outlining the parameters of identification, assessment,
monitoring and mitigation of various risks which is available on the website of the
company.
AUDITORS & AUDITORS REPORT
The Company in its Annual General Meeting held on November 15, 2021, has appointed M/s
KRA & Co., Chartered Accountants (Firm Registration No. 020266N), holding a valid
certificate issued by the Peer Review Board (Certificate No. 012550) of the Institute of
Chartered Accountants of India (ICAI), as statutory auditors of the company from the
conclusion of 4th Annual General Meeting of the Company till the conclusion of
the 09th Annual General Meeting.
Accordingly, M/s KRA & Co., Chartered Accountants, have submitted their Report on
the Financial Statements of the Company for the FY 2022-23, which forms part of the Annual
Report 2022-23. There are no observations (including any qualification, reservation,
adverse remark or disclaimer) of the Auditors in the Audit Reports issued by them which
call for any explanation from the Board of Directors.
The Auditors have also confirmed that they have subjected themselves to the peer review
process of Institute of Chartered Accountants of India (ICAI) and hold a valid certificate
issued by the Peer Review Board of the ICAI.
The Auditors of the Company have not reported any fraud as specified under Section
143(12) of the Companies Act, 2013.
SECRETARIAL AUDITORS AND THEIR REPORT
As per section 204(1) of the Companies Act, 2013 read with rule 9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the company is
required to appoint secretarial auditor for conducting secretarial audit of the company.
Accordingly, the company has appointed M/s J Nain & Associates (Firm Registration no.
S2017DE478500), holding a valid certificate issued by the Peer Review Board (Certificate
No. 2846/2022) of the Institute of Companies Secretaries of India (ICSI), as secretarial
auditor of the company for the Financial Year 2022-23. Based on the carried out by
Secretarial Auditors, they have submitted their report(s), which are annexed herewith as Annexure-3.
MEETINGS OF BOARD OF DIRECTORS
During the financial year 2022-2023 18 (eighteen) Board Meetings were held.
The details of meeting & attendance are given hereunder. The intervening gap
between the Meetings was within the period prescribed under the Companies Act, 2013 and
the SEBI (LODR) Regulations, 2015 and pursuant to the relaxations provided. During the
financial year 2022-23, the Board of Directors of the Company met on the following dates.
S. No. |
Date of Board Meeting |
No. of Directors eligible to attend |
No. of Directors attended meeting |
| 1 |
25-07-2022 |
05 |
05 |
| 2 |
02-09-2022 |
05 |
04 |
| 3 |
05-09-2022 |
05 |
05 |
| 4 |
13-09-2022 |
05 |
04 |
| 5 |
07-10-2022 |
05 |
04 |
| 6 |
17-10-2022 |
05 |
04 |
| 7 |
14-11-2022 |
05 |
05 |
| 8 |
22-11-2022 |
05 |
04 |
| 9 |
29-11-2022 |
05 |
05 |
| 10 |
09-12-2022 |
05 |
04 |
| 11 |
20-12-2022 |
05 |
04 |
| 12 |
03-01-2023 |
05 |
04 |
| 13 |
14-01-2023 |
05 |
04 |
| 14 |
04-02-2023 |
05 |
05 |
| 15 |
15-02-2023 |
05 |
05 |
| 16 |
07-03-2023 |
05 |
04 |
| 17 |
22-03-2023 |
05 |
05 |
| 18 |
30-03-2023 |
05 |
05 |
Further, separate meeting of Independent Directors of the Company was held on August
25, 2022 where the prescribed items enumerated under Schedule IV to the Companies Act,
2013 and clause 25(4) of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 were discussed.
MEETING OF INDEPENDENT DIRECTORS
Pursuant to Secretarial Standard -1 relating to Board Meeting issued by the Institute
of Company secretaries of India, the independent directors shall conduct atleast One (1)
meeting in a Calendar Year to review the performance of Non-Independent Directors and the
Board as a whole; to review the performance of the Chairman and to assess the quality,
quantity and timeliness of flow of information between the company management and the
Board and its members that is necessary for the Board to effectively and reasonably
perform their duties.
Accordingly, your Independent Directors has conducted a meeting dated August 25, 2022
where they review the performance of all non-independent director of the company and the
board as a whole, also review the performance of the Chairman of the company and assess
the quality, quantity and timeliness of flow of information between the company management
and the Board.
The company secretary of the company Ms. Nikita Juneja* take part in convening and
holding of above meetings as required by the independent directors.
ANNUAL REPORT
Pursuant to Section 92 (3) read with Section 134 (3) of the Companies Act, 2013, the
Annual Return as on March 31st, 2023 is available on the Companys website on
https://www.jeenasikho.co.in/.
CSR COMMITTEE
The Company comes under the criteria as mentioned in section 135 of the Companies Act,
2013 i.e., Corporate Social Responsibility and accordingly the amount has been spent on
CSR activities in the financial year 2022-2023 to comply with the requirements of
necessary social expenditure which is Rs. 24,81,489 (Rupees Twenty-four lakh eighty-one
thousand four hundred and eighty nine only) i.e., (2% of the average net profit of the
immediate preceding three (3) financial years). The constitution of CSR Committee was
applicable for FY 2022-23, subsequently the CSR Committee is formulated and the
composition is also given. The CSR Report is annexed as
Annexure-4.
BOARD EVALUATION
Pursuant to the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, the Board has carried out an annual
performance evaluation of its own performance, the directors individually as well as
collectively and of the working of its committees.
The Directors has been satisfied with the performance of all directors and is of
opinion that all Independent Director is a person of integrity and possess relevant
experience and expertise.
NATURE OF BUSINESS
There has been no change in business of the Company.
Jeena Sikho has a diverse portfolio consisting of a number of brands and sub-brands
including "Shuddhi". The Company offers a variety of Ayurvedic Products and
services through Shuddhi clinics and HIIMS, all over the Country. The Company has presence
across various channels such as general groceries, chemists, organised retail and
ecommerce.
COMPANIES WHICH HAVE BECOME OR CEASED TO BE ITS SUBSIDIARIES DURING THE YEAR
During the financial year ended on March 31, 2023, Shuddhi Green Charcoal Private
Limited (CIN: U37200HR2021PTC099839) ceases to be our subsidiary w.e.f. March 30,
2023, the details of which is given in Annexure-1. However, there is no change with
respect to joint venture or associate of the company.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
A detailed review of operations, performance and future outlook of your company and its
businesses is given in the Management Discussion and Analysis Report, which forms part of
this report.
EXTRACT OF ANNUAL RETURN
As required under Section 92(3) of the Companies Act, 2013, an extract of Annual Return
in Form MGT-9 is provided as Annexure-5 and is also uploaded on the website of the
Company at www.jeenasikho.co.in.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186
The details of loans and Investments and guarantees covered under the provisions of
Section 186 of the Act are given in the Notes to the Financial Statements forming a part
of Annual Report.
Current borrowings of the company are compliant with Section 180(1)(c) of the Companies
Act, 2013.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
The particulars of contracts or arrangements entered into by the Company with related
parties referred to in sub section (1) of Section 188 of the Companies Act, 2013 including
certain arms length transactions under that proviso attached as Annexure-6 in Form
AOC-2 forms an integral part of this report. All related party transactions are presented
to the Audit Committee and the Board. Omnibus approval is obtained before the commencement
of the new financial year, for the transactions which are repetitive in nature and also
for the transactions which are not foreseen.
In line with the requirements of the applicable laws, the Company has formulated a
policy on related party transactions which is uploaded on the website of the Company at:
https://www.jeenasikho.co.in/policies.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
AND REDRESSAL) ACT, 2013
The Company has zero tolerance towards sexual harassment at the workplace and has
adopted a policy on prevention, prohibition and redressal of sexual harassment at
workplace in line with the provisions of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 and the Rules thereunder. As required
under law, an Internal Compliance Committee has been constituted for reporting and
conducting inquiry into the complaints made by the victim on the harassments at the
workplace.
During the year, no complaint of sexual harassment has been received by the Committee.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS
IMPACTING THE GOING CONCERNS STATUS AND COMPANYRs.S OPERATIONS IN FUTURE
The Company has not received any significant or material orders passed by any
regulatory authority, court or tribunal which shall impact the going concern status and
Companys operations in future, during the financial year. However, National Stock
Exchange of India Limited has imposed penalty as per SEBI circular no.
SEBI/HO/CFD/CMD/CIR/P/2022/12 dated January 22, 2020 (hereinafter to referred as SOP
Circular) for delaying the compliance as required under regulation 33 of the Securities
and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015. Further your Company has paid the said penalty as per the SOP circular and has also
complied the delayed compliance.
Further, During the year your company has passed a special resolution on March 23, 2023
for shifting of its registered office from the jurisdiction of ROC – Chandigarh to
ROC – Delhi (change of registered office from one state to another) and consequently
alteration of situation clause of memorandum of association.
The company has also made filings to the ROC or other authorities. However, shifting
office from one state to another is in process and the regulatory approval pertaining to
this is pending.
HUMAN RESOURCES
Your Company treats 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 Companys thrust is on the promotion of talent internally through
job rotation and job enlargement.
PARTICULARS OF EMPLOYEES
In terms of the provisions of Section 197 (12) of the Companies Act, 2013 read with
Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014, disclosure pertaining to remuneration and other details are provided in the Annexure-7
to this Report.
TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND
Your Company did not have any funds lying in unpaid or unclaimed dividend for a period
of seven years. Therefore, there were no funds which were required to be transferred to
Investor Education and Protection Fund (IEPF) under Section 124 of the Companies Act,
2013.
COMPLIANCE WITH SECRETARIAL STANDARDS
During the year under review, the Company was in compliance with the Secretarial
Standards. i.e., SS-1 and SS-2 relating to "Meetings of the Board of Directors"
and "General Meetings" respectively.
INDUSTRIAL RELATIONS
The Company maintained healthy, cordial and harmonious industrial relations at all
levels. The enthusiasm and unstinting efforts of employees have enabled the Company to
remain at the leadership position in the industry. It has taken various steps to improve
productivity across organisation.
REMUNERATION POLICY
The Board has on the recommendation of the Nomination & Remuneration Committee,
formulated criteria for determining, qualifications, positive attributes and independence
of directors and also a policy for the remuneration of directors, key managerial
personnel, and senior management. The policy is updated on the website of the company at
https://www.jeenasikho.co.in/.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the provisions under Section 134(5) of the Act, with respect to Directors
Responsibility Statement, the Directors confirm:
That in the preparation of the annual accounts, the applicable accounting standards
have been followed and no material departures have been made from the same;
That they had selected such accounting policies and applied them consistently, and made
judgements 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;
That they had taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act, 2013, for
safeguarding the assets of the Company and for preventing and detecting fraud and other
irregularities;
That they had prepared the annual accounts on a going concern basis;
That they 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
That they had devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.
ACKNOWLEDGMENTS
The Board places on record its appreciation for the continued patronage, support and
co-operation extended by its shareholders, customers, bankers and all Government and
statutory agencies with whose help, cooperation and hard work the Company was able to
achieve the results. Your directors would further like to record appreciation to the
efforts of all the employees for their valuable contribution to the Company.
+91-9892691696
