To
The Members,
The Directors present the 30th Annual Report together with
Audited Financial Statements of the Company for the financial year ended on March 31,
2023.
FINANCIAL HIGHLIGHTS
The Company?s financial performance for the year under review
along with previous year figures is given here under:-
| Particulars |
Financial Year |
|
2022-23 |
2021-22 |
| Revenue from Operations |
67.60 |
83.81 |
| Other Income |
12.30 |
0 |
| Total Revenue |
79.90 |
83.81 |
| Operating Profit (Before Finance Cost and Depreciation &
Amortisation) |
18.05 |
2.75 |
| Less: Finance Cost |
0.67 |
0 |
| Profit before Depreciation & Amortisation |
17.38 |
2.75 |
| Less: Depreciation & Amortisation |
1.18 |
0 |
| Profit before Exceptional and Extraordinary item and Tax |
16.20 |
2.75 |
| Less: Exceptional items |
0 |
0 |
| Profit before Tax |
16.20 |
2.75 |
| Less/(Add): Current Tax |
4.17 |
0.75 |
| Less/(Add): MAT credit Entitlement |
0 |
0 |
| Less/(Add): Deferred Tax Expense/Credit |
(0.06) |
0 |
| Less/(Add): Prior period tax Adjustment |
0 |
0 |
| Profit after Tax |
12.09 |
2.00 |
| Earnings per Share:- |
|
|
| (i) Basic |
0.14 |
0.05 |
| (ii) Diluted |
0.14 |
0.05 |
DIVIDEND
The Directors do not recommend any dividend on the equity shares for
the year ended on March 31, 2023. TRANSFER TO RESERVE
The net profit of the company for F.Y. 2022-23 is Rs. 12.09 Lakhs has
been transferred to the surplus account. CHANGE IN THE NATURE OF BUSINESS
During the year under review, the Company has changed it main business
activities to manufacturing, sales and distribution of precision gauges, thread gauges ,
API gauges , special gauges , fixtures , multi gauging ,electronic gauging ,measuring
instruments used in Oil and Gas industry , all tools such as dial gauges and accessories.
COMPANY?S PERFORMANCE REVIEW
The total revenue from operations from such activities and other income
for the F.Y. 2022-23 amounts to Rs. 79.90
lalcliQ aQ acrainQt Re R1 lakliQ in flip nrpvimiQ vpar
Net profit after Depreciation and taxes has been Rs. 12.09 lakhs as
against Rs.2 lakhs during the previous year. Earnings per Share for the FY 2022-23 is
Rs.0.14 as against Rs. 0.05 during the previous year.
The Directors are expecting to provide better performance and results
in the upcoming year to the shareholders.
MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF
THE COMPANY
There have been no material changes and commitments, affecting the
financial position of the Company which occurred during the reporting financial year.
Whereas, after the completion of the financial year to which the
financial statements relates, the Company has incorporated a subsidiary company in the
name of "PROTO D TECHNOLOGY PRIVATE LIMITED" with the shareholding of fifty one
percent.
CHANGE IN STATUS OF THE COMPANY
The status of the Company has not changed in the reporting financial
year.
MAJOR EVENTS THAT OCCURRED DURING THE YEAR
The major events that have occurred due to change in management and
Promoters of the Company during the reporting year are mentioned below:
1. The name of the Company has changed from "MEWAT ZINC
LIMITED" to "SIZEMASTERS TECHNOLOGY LIMITED" w.e.f. November 24, 2022 and
January 20, 2023 by the Registrar of Companies and Bombay Stock Exchange respectively.
2. The Registered Office of the Company has shifted within the state to
S. No. 4873/5 SF Phatak Namak Hauz Qazi Delhi Central Delhi DL 110006 IN w.e.f. July 04,
2022.
As there has been change in the management of the Company most of the
Directors of the Company are residing in Pune and the business activities and day to day
operations of the Company are proposed to be carried out from Pune, in the State of
Maharashtra. Thus, the Company is under the process of shifting its registered office from
National Capital Territory of Delhi to State of Maharashtra, Pune.
3. Pursuant to the Takeover via. Open Offer made collectively by Mr.
Gopal Zanwar, Mr. Kiran Shamsundar Zanwar & Mr. Mayur Shrikant Zanwar under SEBI
(Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the existing
promoter(s) and person acting in concert (PAC) of the Company named Mr. J.P. Gupta along
with Mrs. Neena Gupta and Jai Prakash Gupta (HUF) have changed to Mr. Gopal Zanwar, Mr.
Kiran Shamsundar Zanwar & Mr. Mayur Shrikant Zanwar.
4. The Company has altered its main object and has adopted new set of
Memorandum of Association and Articles of Association as per Companies Act, 2013 at its 29th
Annual General Meeting held on September 30, 2022.
SHARE CAPITAL
During the year under review, the Company has increased its share
capital the details are as given below:
1. The Authorised Equity Share Capital of the Company has increased
from INR. 5,00,00,000/- (Indian Rupees Five Crore Only) to INR. 10,50,00,000/- (Indian
Rupees Ten Crore and Fifty Lakhs Only) and subsequently the Paid-up Equity Share Capital
has increased from INR. 4,00,00,000/- (Indian Rupees Four Crore Only) to INR.
10,00,00,000/- (Indian Rupees Ten Crore Only) by means of Issue of equity shares on
preferential basis.
The shareholders to whom shares were allotted on preferential basis on
October 20, 2022 are listed below:
| Name of the Allottee |
Category (Promoter/ Non-promoter) |
Number of shares allotted |
| 1 Gopal Ramcharndra Zanwar |
Promoter |
3500000 |
| 2 Sarika Krishnakumar Dhoot |
Non-Promoter |
200000 |
| 3 Sonal Arun Gattani |
Non-Promoter |
150000 |
| 4 Premchand Nandkishor Sarda |
Non-Promoter |
250000 |
| 5 Arun Shrikisanji Modani |
Non-Promoter |
200000 |
| 6 Amol Purushottam Palod |
Non-Promoter |
150000 |
| 7 Ritesh Ramesh Baheti |
Non-Promoter |
200000 |
| 8 Archana Abhijeet Shende |
Non-Promoter |
400000 |
| 9 Sudhanshu Rajesh Baldawa |
Non-Promoter |
300000 |
| 10 Runal Govardhan Jaju |
Non-Promoter |
100000 |
| 11 Nitin Satyanarayan Toshnival |
Non-Promoter |
300000 |
| 12 Sachin Shrikrishna Rathi |
Non-Promoter |
250000 |
During the year under review, the Company has not issued any shares
with differential voting rights nor granted stock options nor sweat equity.
DEPOSITS FROM PUBLIC
The Company has not accepted any deposits from public and as such, no
amount on account of principal or interest on deposits from public was outstanding as on
the date of the balance sheet as per section 73 and 76 of the companies Act, 2013 read
with Companies (Acceptance of Deposits) Rules, 2014.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
The Company has not provided any loans, guarantees or made investment
covered under the provisions of section 186 of the Companies Act, 2013 during the year
2022-23.
MANAGEMENT DISCUSSION AND ANALYSIS
As required under Regulation 34 of the Securities Exchange Board of
India (Listing Obligations and Disclosure Requirement) Regulations, 2015 ("Listing
Regulations") the Management Discussion and Analysis of the Company for the year
under review is presented in a separate section forming the part of the Annual Report is
attached here with as Annexure I.
THE STATE OF AFFAIRS OF THE COMPANY
Pursuant to the Takeover and change in the management of the company,
the state of affairs of the Company is on the improvement track. The Management is on the
path to improve and expand the business of the Company. The
Directors are hopeful that in the coming years the financial strength
will improve further.
RELATED PARTY TRANSACTIONS
All related party transactions that were entered into during the
financial year were on an arm?s length basis and were in the ordinary course of
business. There are no materially significant related party transactions made by the
company with related parties which may have potential conflict with the interest of the
company at large. Your Directors draw your attention to notes to the financial statements
for detailed related parties? transactions entered during the year. Accordingly, as
per third proviso to Section 188(1) of the Act, required approvals of the Board or Members
/ Shareholders has been obtained for such transactions. However, as part of good corporate
governance, all related party transactions covered under Section 188 of the Act are
approved by the Audit committee.
The FORM AOC- 2 is attached as Annexure - II with this report
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED IMPACTING THE GOING
CONCERN STATUS AND COMPANYS OPERATIONS IN FUTURE
There are no significant and material orders passed by the Regulators/
Courts which would impact the going concern status of the Company and its future
operations.
LISTING OF SHARES
The Equity Shares of the Company are listed with the BSE Ltd., and the
Calcutta Stock Exchange Limited. The Company has paid the annual listing fees to the BSE
Limited for the year 2022-23.
The Company is suspended from Calcutta Stock Exchange Limited.
INTERNAL CONTROLS AND THEIR ADEQUACY
The Company implemented suitable controls to ensure its operational,
compliance and reporting objectives. The Company has adequate policies and procedures in
place for its current size as well as the future growing needs. These policies and
procedures play a pivotal role in the deployment of the internal controls. They are
regularly reviewed to ensure both relevance and comprehensiveness and compliance is
ingrained into the management review process.
Ms. Bharti Jadhav is the internal auditor of the Company, who conducts
Internal audit and submit reports to the Audit Committee. The Internal Audit is processed
to design to review the adequacy of internal control checks in the system and covers all
significant areas of the Companys operations. The Audit Committee reviews the
effectiveness of the Companys internal control system.
SHARE TRANSFER SYSTEM
The request regarding physical share transfers and share certificates
should be addressed to Registrar and Transfer Agent. Such requests are processed within
stipulated time from the date of receipt provided documents meet the stipulated
requirement of statutory provisions in all respect. The share certificates duly endorsed
are returned immediately to the shareholder by RTA. The details of transfer and
transmission are placed before the Stakeholders Relationship Committee, Share Transfer
Committee from time to time and the Board for noting and confirmation.
BOARD OF DIRECTORS, KEY MANAGERIAL PERSONNELS
(i) Details of Directors or KMP appointed/ re-appointed/ resigned
during the financial year.
The Companys Board is duly constituted and is in compliance with the
requirements of the Companies Act, 2013, SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as applicable on the Company and provisions of the
Articles of Association of the Company. The Companys Board has been constituted with
requisite diversity, wisdom and experience commensurate to the business of the Company.
During the year under review, changes in composition of Board of
Directors and Committees of Board of the Company have taken place and the Directors on the
Board have experience in the field of finance, legal, statutory compliance, mechanical
engineering and accounts.
None of the Directors are disqualified under the provisions of
Companies Act, 2013 and SEBI (LODR) Regulations, 2015 as at March 31, 2023.
The current board comprises of four Directors details are mentioned
below:
| SR. NAME NO. |
DESIGNATION |
DIN/PAN |
| 1. Gopal Ramcharndra Zanwar |
Managing Director |
09537969 |
| 2. Kiran Shamsundar Zanwar |
Director (Non-executive Director) |
09653402 |
| 3. Rajvirendra Singh Rajpurohit |
Independent Director |
06770931 |
| 4. Sysha Suresh Kumar |
Independent Women Director |
01670699 |
| 5. Shantaram Ankam |
Chief Financial Officer |
AHJPA9890J |
| 6. Aishwarya Parwal |
Company Secretary and Compliance Officer |
DXAPP9487G |
* Mr. Jai Prakash Gupta, Mrs. Neena Gupta, Mr. Virendra Goel, Ms.
Purnima Aggarwal and Mr. Ashok Agarwal ceased to hold the position of Directorship of the
Company w.e.f. July 04, 2022 on their resignations.
* Ms. Varsha Joshi resigned from her designation of Company Secretary
and Compliance Officer due to change in the Management w.e.f. July 04, 2022.
(ii) Retirement by rotation
In accordance with the applicable provisions of the Companies Act, 2013
and Articles of Association of the Company, Mr. Gopal Zanwar retires by rotation and is
eligible to offer himself for re-appointment.
(iii) Board Meetings
During the Financial year 2022-23, Six (6) Board Meetings were convened
and held. The interval between any two meetings was well within the maximum allowed gap of
120 days.
|
Board Meeting Attendance |
|
5 |
|
5 |
|
4 |
|
4 |
|
4 |
|
4 |
INDEPENDENT DIRECTORS
(i) Declarations by Independent Directors and re-appointment, if any
All Independent Directors have provided declarations that they meet the
criteria of independence as laid down under
Section 149 (6) of the Companies Act, 2013 and Regulation 16(1) (b) of
SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015
(ii) Independent Directors Meeting
During the year under review, the Independent Directors met on
04/04/2022 inter alia, to:
i. consider, note and recommend the open offer to the shareholders
under regulation 26 (7) of the SEBI (Substantial Acquisition Of Shares And Takeovers)
Regulations, 2011.
Further, the Independent Directors met on and 30/03/2023 to evaluate:
i. the performance of Non-Independent Directors and the Board of
Directors as a whole,
ii. the performance of the Chairman of the Company taking into account
the views of the executive and non-executive Directors;
iii. the quality, content and timeliness of the flow of information
between the management and Board which is necessary for the Board to perform its duties
respectively.
All the Independent Directors were present in the meeting.
COMMITTEES OF THE BOARD
Matters of policy and other relevant and significant information are
furnished regularly to the Board. To provide better Corporate Governance &
transparency, currently, your Board has four (4) Committees viz., Audit Committee,
Remuneration & Nomination Committee, Stakeholder Relationship Committee and Shares
Transfer Committee to investigate various aspects for which they have been constituted.
The Board fixes the terms of reference of Committees and delegate powers from time to
time.
AUDIT COMMITTEE
The Audit Committee comprises of non-executive and Independent Director
as its Member. The Chairman of the committee is Independent Director.
During the Financial year 2022-23, five (5) meeting of audit committee
held on 23/05/2022, 04/07/2022, 05/09/2022, 11/11/2022 and 10/02/2023.
The Composition of Audit Committee as on the end of the financial year
is given below:
| Name of the Director |
Status in the Committee |
Nature of Directorship |
| Rajvirendra Singh Rajpurohit |
Chairman of |
Non-Executive Independent |
|
committee |
Director |
| Sysha Suresh Kumar |
Member |
Non-Executive Independent Woman Director |
| Kiran Shamsundar Zanwar |
Member |
Non-Executive Director |
(i) Recommendations by the Audit Committee which were not accepted by
the Board along with reasons
All the recommendations made by the Audit Committee are accepted and
implemented by the Board of Directors.
NOMINATION AND REMUNERATION COMMITTEE
The Nomination and Remuneration Committee comprises of non-executive
and Independent Director as its Member. The Chairman of the committee is Independent
Director.
During the Financial year 2022-23, one (1) meeting of nomination and
remuneration committee held on 04/07/2022. The Composition of Nomination and Remuneration
Committee as on the end of the financial year is given below:
| Name of the Director |
Status in the Committee |
Nature of Directorship |
| Sysha Suresh Kumar |
Chairman of committee |
Non-Executive Independent Woman Director |
| Rajvirendra Singh Rajpurohit |
Member |
Non-Executive Independent Director |
| Kiran Shamsundar Zanwar |
Member |
Non-Executive Director |
STAKEHOLDER RELATIONSHIP COMMITTEE
The stakeholder relationship committee comprises of non-executive and
Independent Director as its Member. The Chairman of the Committee is a Non-executive
Director.
During the Financial year 2022-23, one (1) meeting of Stakeholder
Relationship Committee were held on 10/02/2023. The Composition of stakeholder
relationship committee as on the end of the financial year is given below:
| Name of the Director |
Status in the Committee |
Nature of Directorship |
| Kiran Shamsundar Zanwar |
Chairman of committee |
Non-Executive Director |
| Rajvirendra Singh Rajpurohit |
Member |
Non-Executive Independent Director |
| Sysha Suresh Kumar |
Member |
Non-Executive Independent Woman Director |
SHARE TRANSFER COMMITTEE
The share transfer committee comprises of Executive, non-executive and
Independent Director as its Member. The Chairman of the Committee is an Executive
Director.
During the Financial year 2022-23, two (2) meeting of Share Transfer
Committee were held on 10/10/2022 and 11/11/2022.
The Composition of share transfer committee as on the end of the
financial year is riven below:
| Name of the Director |
Status in the Committee |
Nature of Directorship |
| Gopal Ramchandra Zanwar |
Chairman of committee |
Executive Director |
| Rajvirendra Singh Rajpurohit |
Member |
Non-Executive Independent Director |
| Kiran Shamsundar Zanwar |
Member |
Non-Executive Director |
COMPANY POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION
The Company has formulated a remuneration policy which provides the
manner of selection of Board of Directors, KMP and their remuneration. In case of
appointment of independent Directors, the Nomination and Remuneration Committee shall
satisfy itself with regard to independent nature of the Directors viz-a-viz the company so
as to enable the Board to discharge its performance and duties effectively.
The Policy is also available on the website of the company i.e.
www.mewatzinc.com
Member?s attention is drawn to Financial Statements wherein the
disclosure of remuneration paid to Directors is given during the year 2022-23. Details of
sitting fees paid to the Non-executive directors are disclosed in the financial
statements.
STATEMENT INDICATING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT
POLICY OF THE COMPANY
The provisions of Regulation 21 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 are not applicable to the company. However, at
present the Company has not identified any element of risk in the Company.
DIRECTORS RESPONSIBILITY STATEMENT
To the best of their knowledge and belief and according to the
information and explanations obtained by them, your Directors make the following
statements in terms of the section 134(3)(c) of the Companies Act, 2013:
(i) That in the preparation of the annual financial statements for the
year ended March 31, 2023 the applicable accounting standards have been followed along
with proper explanation relating to material departures, if any;
(ii) That such accounting policies, as mentioned in the Notes to the
Financial Statements, have been selected and applied consistently and judgments and
estimates have been made 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 of the
Company for the year ended on that date;
(iii) That proper and sufficient care has been taken 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 annual financial statements have been prepared on a going
concern basis;
(v) That proper internal financial controls were in place and that the
financial controls were adequate and were operating effectively;
(vi) That proper systems to ensure compliance with the provisions of
all applicable laws were in place and were adequate and operating effectively.
ESTABILISHMENT OF VIGIL MECHANISM
Your Company has framed a Whistle Blower Policy to deal with instances
of fraud and mismanagement, if any. The Vigil Mechanism has been available on the website
of the Company i.e. www.mewatzinc.com
AUDITORS
STATUTORY AUDITORS
At the 29th AGM held on September 30, 2022 the Members had approved
appointment of M/s Joshi Loya & Co. Chartered Accountants, Pune (Firm Registration No.
139767W) as Statutory Auditors of the Company to hold office for a period of five years
from the conclusion of that AGM till the conclusion of the 34th AGM.
REVIEW OF AUDITORS REPORT
There were no frauds, qualification, reservation or adverse remark
reported by the statutory auditor to the audit committee or the board as per section 143
of the act.
The observations made in the auditors report read together with
relevant notes thereon are self-explanatory and hence do not call for any further comments
from the Directors under section 134 (3) (f) of the Companies Act, 2013.
SECRETARIAL AUDITOR
The Board of directors pursuant to Section 204 of the Companies Act,
2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, has appointed Giriraj A. Mohta & Co., Practicing Company
Secretary, Pune (C.P.No:18967) as Secretarial Auditor of the Company to conduct the
Secretarial Audit as per the provisions of the said Act for the
Financial Year 2022-23 and onwards.
A Secretarial Audit Report for the Financial Year 2022-23 is annexed
herewith as Annexure-III in Form MR-3.
INTERNAL AUDITOR
The Company has appointed Ms. Bharti Jadhav as internal auditors of the
company pursuant to section 138 of the Companies Act, 2013 read with Rule 13 of Companies
(Accounts) Rules, 2014. The Internal Auditor conducts the internal audit of the functions
and operations of the Company and reports to the Audit Committee and Board from time to
time
COST AUDIT
Maintenance of Cost Records and Cost Audit as per Section 148(1) the
Companies Act, 2013 read with applicable rules is not applicable to the Company for the
Financial Year 2022-23
SUBSIDIARY, JOINT VENTURES OR ASSSOCIATES COMPANIES
The company does not have any subsidiary, joint venture or associate
company.
COMPLIANCE WITH THE CODE OF CONDUCT OF BOARD OF DIRECTORS
The Board of Directors of the Company have complied with the Companys
Code of Conduct applicable to Board of Directors.
DETAIL OF FAMILIARIZATION PROGRAMME OF THE INDEPENDENT DIRECTORS
During the year under review one familiarization Programme was
conducted for the independent Directors of the Company. The details are available at
http://mewatzinc.com/data/documents/Code-of-Conduct-for-Board-Members-
and-Senior-Management.pdf
CORPORATE GOVERNANCE REPORT
As per regulation 15(2) of the Listing Regulation, the Compliance with
the Corporate Governance provisions shall not apply in respect of the following class of
the Companies:
a. Listed entity having paid up equity share capital not exceeding Rs.
10 Crore and Net worth not exceeding Rs. 25 Crore, as on the last day of the previous
financial year;
b. Listed entity which has listed its specified securities on the SME
Exchange.
Since, our Company falls in the ambit of aforesaid exemption (a); hence
compliance with the provisions of Corporate Governance shall not apply to the Company and
it does not form the part of the Annual Report for the financial year 2022-23.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS & OUTGO
Information in accordance with the provisions of Section 134(3) (m) of
the Companies Act, 2013, read with Rule 8 of the Companies (Accounts) Rules, 2014,
regarding conservation of energy, technology absorption and foreign exchange earnings and
outgo are under:
| Sr. Particulars No. |
Comments |
| (A) Conservation of energy |
|
| (i) the steps taken or impact on conservation of energy; |
Energy conservation is very important for
the company and therefore, energy conservation measures are undertaken wherever
practicable in its plant and attached facilities. The |
| (ii) the steps taken by the Company for utilizing alternate
sources of energy; |
Company is making every effort ensure the
optimal use of energy, avoid waste and conserve energy by using energy efficient
equipment?s with latest technologies. Impact on conservation of energy was that the
electricity load expenses reduced. |
| (iii) the capital investment on energy conservation equipment |
Nil |
| (B) Technology absorption |
Nil |
| (i) the efforts made towards technology absorption |
Company firmly believes that adoption and
use of technology is a fundamental business requirement for carrying out business
effectively and efficiently. While the industry is labour intensive, we believe that
mechanization of development through technological innovations is the way to address the
huge demand supply gap in the industry. We are constantly upgrading our technology to
reduce costs and achieve economies of scale. |
| (ii) the benefits derived like product improvement, cost
reduction, product development or import substitution; |
Nil |
| (iii) in case of imported technology (imported during the
last three years reckoned from the beginning of the financial year : |
Nil |
| (a) the details of technology imported |
Nil |
| (b) the year of import |
Nil |
| (c) whether the technology been fully absorbed |
Nil |
| (iv) (d) if not fully absorbed, areas where absorption has
not taken place, and the reasons thereof; and the expenditure incurred on Research and
Development |
Nil |
|
Nil |
| (C) F oreign exchange earnings and Outgo |
Inflow (Rs. In Lakhs) |
Outflow (Rs. In Lakhs) |
| The Foreign Exchange earned in terms of actual
inflows during the year and the Foreign Exchange outgo during the year in terms of actual
outflows |
13.90 |
0 |
ANNUAL RETURN
Pursuant to the requirement under section 134(3)(a) and 92(3) of the
Companies Act, 2013 (‘the Act?), the Annual Return as on March 31, 2023, will be
available on the Company?s website on www.mewatzinc.com after AGM.
SEBI COMPLAINTS REDRESS SYSTEM (SCORES)
The investor complaints are processed in a centralized web-based
complaints redress system. The salient features of
this system are centralized database of all complaints, online upload
of Action Taken Reports (ATRs) by the concerned companies and online viewing by investors
of actions taken on the complaint and its current status. Your Company has been registered
on SCORES and makes every effort to resolve all investor complaints received through
SCORES or otherwise within the statutory time limit from the receipt of the complaint. The
Company has not received any complaint on the SCORES during financial year 2022-23.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
During the year under review the company has not received any complaint
as per the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)
Act, 2013.
PARTICULARS OF EMPLOYEES
The provisions of Section 197 read with rule 5(2) & (3) of the
Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 requiring
particulars of the employees to be disclosed in the Report of Board of Directors are not
applicable to the Company as none of the employees was in receipt of remuneration in
excess of Rs. 1.20 Crore per year during the financial year 2022-23.
SECRETARIAL STANDARDS
The directors state that the applicable secretarial standards, i.e.
SS-1 and SS-2 relating to "Meetings of Board of Directors and General Meetings",
respectively have been duly followed by the Company.
CORPORATE SOCIAL RESPONSIBILITY
At present the provisions are not applicable to the company. As and
when these provisions become applicable, necessary steps will be taken to comply with the
same.
THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE
INSOLVENCY AND BANKRUPTCY CODE, 2016 AND THEIR STATUS AS AT THE END OF THE FINANCIAL YEAR
During the year under review this provision is not applicable on our
Company.
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 this provision is not applicable on our
Company.
STATEMENT OF DEVIATION(S) OR VARIATION
As per the report submitted to the Bombay Stock Exchange on May 25,
2023 there is no deviation or variations observed in the utilization of funds raised.
ACKNOWLEDGEMENT
The Directors of the Company wish to thank all the concerned agencies,
bankers and the employees for the cooperation, assistance and support. The Directors also
duly acknowledge the trust and confidence the shareholders and investors have reposed in
the Company.
By the order of the Board
For SIZEMASTERS TECHNOLOGY LIMITED (Formerly known as MEWAT ZINC
LIMITED)
GOPAL ZANWAR
CHAIRMAN & MANAGING DIRECTOR DIN: 09537969
Date: August 14, 2023 Place: Pune
+91-9892691696
