Milestone Global Ltd Directors Report.

To the Members,

Your Directors are happy to present the 30th Annual Report together with the audited statements of Accounts for the period ended 31st March 2020.

1. THE FINANCIAL SUMMARY OR HIGHLIGHTS

(Rs. In Lakhs)
Year Ended 31-03-2020 Year Ended 31-03-2019
Income from operations 1200.97 1137.10
Other income 13.98 13.73
Total 1214.95 1150.83
Total Expenditure 1197.35 1136.63
Profit/(Loss) before Tax 17.61 14.21
Provision for Taxation 5.49 3.00
Profit/(Loss) after Tax 12.12 11.20

2. THE STATE OF THE COMPANYS AFFAIRS:

Financial Statement of the company has been prepared on standalone basis as prescribed in Rule 8(1) of the Companies Accounts Rules, 2014.

During the financial year 2019-2020, the Total Revenue of your Company has increased from Rs. 11,50,83,575/- to Rs. 12,14,95,980/-, an increase of 5.57%.

The Total Expenditure has also increased from Rs. 11,36,62,795/- to Rs. 11,97,34,775/-, an increase of 5.34%. The net profit of the Company is Rs.12,11,908/-

3. DIVIDEND AND TRANSFER TO RESERVES:

Your Directors are not recommending any Dividend on Equity Share Capital of the Company for the Current Financial year ending 31st March 2020. Hence, the amount to be transferred to any Reserve Account does not arise.

4. MATERIAL CHANGES AND COMMITMENTS, IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENT RELATE AND THE DATE OF THE REPORT:

No Material changes and commitments, affecting the financial position of the company has occurred between the end of the financial year of the company to which the financial statement relate and the date of the report.

5. THE CHANGE IN THE NATURE OF BUSINESS:

During the year under review, the Company added a new business activity to the Main Objects Clause of the Memorandum of Association (MOA) of the Company, in addition to the existing business activity.

A new business activity of providing a range of language services including translation, transcription and localization services to business wishing to expand in Asia region, has been added to the Main Objects Clause of the MOA, in addition to its existing business activity of manufacturing and exporting granite tombstones to Europe, North America and Australia.

The shareholders approval for the said new business activity was obtained by the Company in an

Extra Ordinary General Meeting held on 8th February, 2020. The Certificate of Registration of the Special Resolution confirming alteration of Object Clause was obtained from the ROC on 2nd March, 2020.

The Company has started the new business activity in April 2020 and has started getting few clients too. We are very optimistic about growth in this area of business activity in the coming years.

6. DIRECTORS OR KEY MANAGERIAL PERSONNEL:

The Independent Directors of the Company, Mr. Naveen Chawla, Mr. Mayank Bughani and Mr. Rajeev Kapoor were re-appointed as Independent Directors for a second term of 5 consecutive years in the Annual General Meeting held on 28th September, 2019, by way of a Special Resolution.

Ms. Nikita Agarwal who retires by rotation is eligible and offers herself for reappointment.

7. MEETINGS OF THE BOARD OF DIRECTORS:

The Board has met 5 times during the financial year under review on 30th May, 2019, 13th August, 2019, 13th November, 2019, 30th December, 2019 and 13th February, 2020.

8. SUBSIDIARIES, JOINT VENTURES:

As on March 31, 2020, your company has a Subsidiary whose details are as follows:

Milestone Global (UK) Limited, United Kingdom

Performance and Financial Position of the aforesaid subsidiary company as prescribed under the Rule 8(1) of the Companies Accounts Rules, 2014 have been furnished in Notes forming part of the Accounts.

9. DEPOSITS

The Company has not accepted any deposits; hence, the provisions with respect to the deposits, covered under Chapter V of the Act are not applicable.

10. THE DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE

REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN

STATUS AND COMPANYS OPERATIONS IN FUTURE:

No orders have been passed by the Regulators or Courts or Tribunals impacting the going concern status and companys operations in future.

11. THE DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS

WITH REFERENCE TO THE FIANCIAL STATEMENTS:

Adequate internal controls, systems, and checks are in place, commensurate with the size of the Company and the nature of its business.

Your Company has appointed Mr. Varun Bansal, Chartered Accountants, to conduct the internal audit, and the findings and recommendations of the Internal Auditors are placed before the Audit Committee of your Board regularly.

12. DIRECTORS RESPONSIBILITY STATEMENT AS PER SECTION 134(5) OF THE

COMPANIES ACT, 2013:

As required U/s 134 (5) of the Companies Act, 2013, your Directors state that:

a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b) the directors had 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 31st March 2020 and of the profit and loss of the company for that period;

c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

d) the directors had prepared the annual accounts for the period ending 31st March 2020 on a going concern basis; and

e) 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.

f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

13. A STATEMENT INDICATING THE MANNER IN WHICH FORMAL ANNUAL

EVALUATION HAS BEEN MADE BY THE BOARD OF ITS OWN PERFORMANCE AND THAT OF ITS COMMITTEES AND INDIVIDUAL DIRECTORS [section 134 (3) (p) and Rule 8(4) of the Companies (Accounts)Rules, 2014]:

Pursuant to the provisions of the Companies Act, 2013, the Board has carried out an annual performance evaluation of its own performance and that of individual Directors.

One of the Key functions of the Board is to monitor and review the Board evaluation framework. The Board works with the Nomination and Remuneration Committee to lay down the evaluation criteria for the performance of the Chairman, the Board, committees of the Board

14. A STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTORS UNDER

SUB-SECTION (6) OF SECTION 149:

The Board has received the declaration from all the Independent Directors as per the requirement of Section 149(7) and pursuant to Rule 6 sub rule 3 of Companies (Appointment and Qualifications of

Directors) Rules, 2014 and the Board is satisfied that all the Independent Directors meets the criterion of independence as mentioned in Section 149(6).

15. STATEMENT IS TO BE GIVEN ONLY IF THE COMPANY IS COVERED UNDER

SECTION 177 & 178:

1. Listed Co.,

2. Public Co. (Paid up Capital Rs.10 Cr/Turnover Rs.100 Cr/Borrowings Rs.50 Crs or more)

a. Audit Committee

Mr. Rajeev Kapoor Chairman
Mr. Naveen Chawla Member
Mr. Alok Krishna Agarwal Member

b. Nomination and Remuneration Committee

Mr. Naveen Chawla Chairman
Mr. Rajeev Kapoor Member
Mr. Mayank Bughani Member

c. Stakeholders Relationship Committee

Mr. Alok Krishna Agarwal Chairman
Mr. Mayank Bughani Member
Mr. Fiyaz Ahmed Member

Every Co (Net worth Rs.500 Cr / Turnover Rs.1000 Cr / Net Profit Rs.5 Cr or more)

d. Corporate Social Responsibility Committee

This is not applicable to the Company

16. AUDITORS:

M/s Gupta Vaish & Company, Chartered Accountants, (Firm Reg. No. 005087C) Kanpur, were appointed as Statutory Auditors in the 27th Annual General Meeting (AGM) of the Company held on 29th September, 2017, to hold office from the conclusion of that AGM till the conclusion of the AGM to be held in the year 2022. The requirement for annual ratification of auditors appointment at the

AGM has been omitted pursuant to Companies (Amendment) Act 2017 notified on 7th May, 2018. During the year, the Statutory Auditors have confirmed that they satisfy the independence criteria required under Companies Act, 2013 and the Codes of Ethics issued by the Institute of Chartered Accountants of India.

17. SECRETARIAL AUDIT REPORT :

A copy of the Secretarial audit report as provided by M/s. Akhilesh Singh & Associates, Practicing Company Secretaries, as required under Section 204(1) of the Companies Act, 2013 is annexed to this Report as "Annexure B"

18. EXPLANATIONS OR COMMENTS ON QUALIFICATION, RESERVATION OR ADVERSE

REMARK OR DISCLAIMER MADE BY THE AUDITORS:

a) Independent Auditors Report:

The Notes to Accounts forming part of Annual accounts are Self-Explanatory and need no further explanation. There are no qualifications/remarks raised in Auditors Report requiring clarification.

b) Secretarial Audit Report:

There are no qualifications/remarks raised in Secretarial Auditors Report requiring clarification.

19. STATEMENT OF DEVELOPMENT AND IMPLEMENTATION OF A RISK

MANAGEMENT POLICY:

Your Company has a well-defined Risk Management System in place, as a part of its good Corporate Governance practices.

20. CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION, FOREIGN

EXCHANGE EARNINGS & OUTGO - Rule 8(3) of the Companies (Accounts) Rules,2014

a) Conservation of energy- The plant installed by the Company is of latest technology and is energy efficient. Power consumption of the Company is very low.

b) Technology absorption- Company has not imported any technology. Effective pollution control system has already been installed in the factory. Total Quality Management System has already implemented. The company has achieved process development, cost reduction etc. There was no expenditure on Research and Development during the year under review.

c) Foreign Exchange Earnings and Outgo- 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 are as follows:

Foreign Exchange Earnings: Rs.12,10,24,333.99/-

Foreign Exchange Outgo: Rs. 78,98,207.49/-

21. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186

OF THE COMPANIES ACT, 2013:

The Company has not given any loans or guarantees in terms of Section 186 of the Companies Act, 2013, during the financial year under review.

22. THE PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED

PARTIES REFERRED TO IN SUB-SECTION (1) OF SECTION 188:

There are no materially significant related party transactions made by the Company with Promoters, Directors, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of the company at large and the transactions carried with related parties is in the ordinary course of business.

23. DISCLOSURES ABOUT CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY:

This is not applicable to the Company.

24. THE EXTRACT OF THE ANNUAL RETURN AS PROVIDED UNDER SUB-SECTION (3)

OF SECTION 92:

The extract of the annual return as provided under sub-section (3) of section 92 in form MGT 9 is annexed as Annexure A to this report.

25. DISCLOSURE IN RESPECT OF VOTING RIGHTS NOT EXERCISED DIRECTLY BY THE

EMPLOYEES IN RESPECT OF SHARES TO WHICH THE SCHEME RELATES [Section 67(3)]:

Not Applicable to the Company.

26. THE DETAILED REASONS FOR REVISION OF SUCH FINANCIAL STATEMENT OR

REPORT [Section 131(1)]:

Not Applicable to the Company

27. RE APPOINTMENT OF INDEPENDENT DIRECTORS:

This is not applicable during financial year under review. The term of the existing Independent Directors has not been completed yet.

28. THE REASONS FOR THE BOARD HAD NOT ACCEPTED ANY RECOMMENDATION OF

THE AUDIT COMMITTEE [Section 177 (8)]:

There are no such recommendations.

29. THE VIGIL MECHANISM [Section 177 (10)]:

The Management has sufficient vigil mechanism to handle the situation.

30. THE RATIO OF THE REMUNERATION OF EACH DIRECTOR TO THE MEDIAN

EMPLOYEES REMUNERATION [Section 197 (12) - Listed Company]:

SL. No Name Remuneration Ratio to Median Remuneration
1. Mr. Fiyaz Ahmed Ms. Nikita Agarwal (as Sales and Marketing Rs. 6,00,000 1.77:1
2. Head) Rs. 12,00,000 3.53:1

31. DETAILS OF DIRECTORS WHO IS IN RECEIPT OF ANY COMMISSION FROM THE

COMPANY AND WHO IS A MANAGING OR WHOLE-TIME DIRECTOR OF THE COMPANY [Section 197(14)]:

None of the Director is getting commission from the Company so this is not applicable to the Company.

32. UNDER THE HEADING "CORPORATE GOVERNANCE" [Schedule V Part II Section II-point IV]:

As required by SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, a separate section on Report on corporate governance practices followed by the Company, together with certificate from the Companys Auditors confirming compliance is attached.

33. THE ISSUE OF EQUITY SHARES WITH DIFFERENTIAL RIGHTS WAS COMPLETED

[Rule 4 of the Companies (Share Capital and Debentures) Rules, 2014]:

The Company has not issued any Equity shares with Differential Rights during the year so this clause is not applicable.

34. THE VOTING RIGHTS ARE NOT EXERCISED DIRECTLY BY THE EMPLOYEES IN

RESPECT OF SHARES TO WHICH THE SCHEME RELATES:

This clause is not applicable to the Company.

35. DETAILS OF ISSUE OF SWEAT EQUITY SHARES [Rule 8(13) of the Companies (Share

Capital and Debentures) Rules, 2014]:

The Company has not issued Sweat Equity shares during the year so this clause is not applicable.

36. DETAILS OF EMPLOYEES STOCK OPTION SCHEME [Rule 12 (9) of the Companies (Share

Capital and Debentures) Rules, 2014]:

The Company does not have Employees Stock Option Scheme so this clause is not applicable.

37. PARTICULARS OF EMPLOYEES:

Details of employee drawing remuneration in excess of that drawn by the Whole Time Director, in terms of Rule 5(2)(iii) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

Name of Employee Designation Educational Qualification Age Experience (in years) Date of Joining Gross Remuneration Paid Previous Employment
Alka Agarwal CEO BA LLB 52 17 yrs. 28.06.2003 15,00,000 NA

38. DISCLOSURE IN RELATION TO SEXUAL HARRASSMENT OF WOMEN AT

WORKPLACE:

The Company has taken adequate measures to ensure safety of women at work place and no incidence of sexual harassment of women at workplace was reported to the Company during the financial year under review.

Place: New Delhi Date: 13th July, 2020

For and on behalf of the Board of Directors

Sd/- Alok Krishna Agarwal Chairman

Form No. MGT-9

EXTRACT OF ANNUAL RETURN as on the financial year ended on 31st March 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:

I. CIN: - L93000KA1990PLC011082 II. Registration Date :23.07.1990

III. Name of the Company: MILESTONE GLOBAL LIMITED IV. Category / Sub-Category of the Company: Public Company

V. Address of the Registered office and contact details: :54-B, HOSKOTE INDUSTRIAL

AREA(KIADB), CHINTAMANI ROAD, HOSKOTE - VI. Whether listed company Yes

VII. Name, Address and Contact details of Registrar and Transfer Agent, if any :

Integrated Registry Management Services Pvt. Ltd, #30, Ramana Residency, 4th Cross, Sampige Road, Malleswaram, Bangalore-560003, Phone No. 080-23460815

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

All the business activities contributing 10 % or more of the total turnover of the company shall be stated: -

Sl. No. Name and Description of main products / services NIC Code of the Product/ service % to total turnover of the

company

1 Granite Sculpturing (Other Business activities) 74999 99.9

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

S. No. Name and Address of the Company CIN/GLN Holding/ Subsidiary/ Associate % of shares held Applicable Section
Milestone Global (UK) 1 Limited - Subsidiary 100% 2(87)

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

I. Category-wise Share Holding

No. of Shares held at the beginning of the year 1st April, 2019

No. of Shares held at the end of the year 31st March, 2020

Category of Shareholders Demat Physical Total % of Total Shares Demat Physical Total % of Total Shares % Change during the year
A. Promoters
1. Indian
a) Individual/HUF 29,93,685 - 29,93,685 59.66 2993685 - 2993685 59.66 0

 

b) Central Govt. or State Govt.
c) Bodies Corporate 6,82,110 - 6,82,110 13.59 6,82,110 - 6,82,110 13.59 0
d) Bank/FI - - - - - - - - -
e) Any other - - - - - - - - -
Sub Total (A)(1) 36,75,795 36,75,795 73.25 36,75,795 - 36,75,795 73.25 0
2. Foreign
a) NRI Individuals - - - - - - - - -
b) Other Individuals - - - - - - - - -
c) Bodies Corporate - - - - - - - - -
d) Banks/FI - - - - - - - - -
e) Any Other - - - - - - - - -
Sub Total (A)(2) - - - - - - - - -
Total Shareholding of Promoter 36,75,795 36,75,795 73.25 36,75,795 - 36,75,795 73.25 0
A= (A)(1)+(A)(2)
B. Public
Shareholding
1. Institutions
a) Mutual Funds 2,00,000 1,00,000 3,00,000 5.98 2,00,000 1,00,000 3,00,000 5.98 0
b) Banks/FI 33,300 66,600 99,900 1.99 33,300 66,600 99,900 1.99 0
c) Central Govt. -- - - - - - - - -
d) State Govt. - - - - - - - - -
e) Venture Capital Fund - - - - - - - - -
f) Insurance Companies - - - - - - - - -
g) FIIS - - - - - - - - -
h) Foreign Venture Capital Funds - - - - - - - - -
i) Others (specify) - - - - - - - - -
Sub Total (B)(1) 2,33,300 1,66,600 3,99,900 7.97 2,33,300 1,66,600 3,99,900 7.97 0
2. Non-Institutions
a) Bodies Corporate
I. Indian 2,39,502 12,900 2,52,4502 5.03 2,40,540 12,900 2,53,440 5.05 0.02
II. Overseas - - - - - - - - -
b) Individuals
III. Individual Shareholders holding nominal share capital upto Rs. 1 lakh 1,63,258 3,02,265 4,65,523 9.28 1,72,337 2,92,165 4,64,502 9.26 -0.02
IV. Individual Shareholders holding nominal share capital in excess of Rs. 1 lakh 33,157 1,10,200 1,43,357 2.86 33,157 1,10,200 1,43,357 2.86 0
c) Others (specify)
NRI 80,506 - 80,506 1.60 80,506 - 80,506 1.60 0
Clearing Member 17 - 17 0.00 0 - 0 0 0
Sub Total (B)(2) 5,16,440 4,25,365 9,41,805 18.77 5,26,540 4,15,265 9,41,805 18.77 -0.13
Total Public
Shareholding B= 7,49,740 5,91,965 13,41,705 26.74 7,59,840 5,81,865 13,41,705 26.74 0
(B)(1)+(B)(2)
C. Shares held by

custodian for ADRs

and GDRs

- - - - - - - - -
Grand Total (A)+(B)+(C) 44,25,535 591965 50,17,500 100 44,35,635 5,81,865 50,17,500 100

B. Shareholding of Promoters

Shareholding at the beginning of the year

Shareholding at the end of the Year
Sl No. Shareholders 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 % change in shareholding during the year
1 Alka Agarwal Ketki Investments and 29,90,285 59.59 - 29,90,285 59.59 - Nil
2 Consultancy Pvt.Ltd. 6,82,110 13.59 - 6,82,110 13.59 - Nil
3 Nikita Agarwal Total 3400 36,75,795 0.06 73.25 - - 3400 36,75,795 0.06 73.25 - - Nil Nil

C. Change in Promoters Shareholding (please specify, if there is no change)

Shareholding at the beginning of the year (1st April 2019)

Cumulative Shareholding during the year-31st March, 2020

Sl.No Name of the Shareholder No. of Shares % of total shares of the company Date Increase/Decrease in Shareholding Reason No. of Shares % of total shares of the Company
Alka 29,90,285 59.59 01.04.2019 No change during the year
1 Agarwal Ketki Investments and 31.03.2020 0 - 29,90,285 59.59
2. Consultancy Private Limited 6,82,110 13.59 01.04.2019 No Change during the year
Nikita 31.03.2020 0 6,82,110 13.59
3. Agarwal 3400 0.06 01.04.2019 No Change during the year
31.03.2020 0 - 3400 0.06

D. Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of

GDRs and ADRs):

Shareholding at the beginning of the year (1st April 2019)

Cumulative Shareholding during the year-31st March, 2020

S.No Name of the Shareholder No. of Shares % of total shares of the company Date Increase/Decrease in Shareholding Reason No. of Shares % of total shares of the Company
ABUZU Holdings 2,28,400 4.55 01.04.2019 No Change during the year
1. Private Limited 31.03.2020 0 2,28,400 4.55
Punjab National 1,00,000 1.99 01.04.2019 No Change during the year
2. Bank- Principal Trust SBI Magnum 31.03.2020 0 1,00,000 1.99
Global Fund 1,00,000 1.99 01.04.2019 No Change during the year
31.03.2020 0 1,00,000 1.99
Principal Multi Cap 1,00,000 1.99 01.04.2019 No Change during the year
31.03.2020 0 1,00,000 1.99

 

Growth Fund Karnataka 66,600 1.33 01.04.2019 No Change during the year
3. State Financial Corporation 31.03.2020 0 66,600 1.33
Mahendra 40,000 0.80 01.04.2019 No Change during the year
4. Kumar Khetshi Shah 31.03.2020 0 40,000 0.80
Premchand 40,000 0.80 01.04.2019 No Change during the year
Shah 31.03.2020 0 40,000 0.80
Ramesh Chandra 40,000 0.80 01.04.2019 No Change during the year
31.03.2020 0 40,000 0.80
Hemraj Shah Nimish Mahendra 40,000 0.80 01.04.2019 No Change during the year
31.03.2020 0 40,000 0.80
Kumar Shah
Karnataka State 33,300 0.66 01.04.2019 No Change during the year
5. Industrial and Infrastructure Development 31.03.2020 0 33,300 0.66
Hitesh C Shah 20,285 0.40 01.04.2019 No Change during the year
6. HUF 31.03.2020 0 20,285 0.40
Rekha N 18,200 0.36 01.04.2019 No Change during the year
7. Aggarwal 31.03.2020 0 18,200 0.36
12,922 0.26 01.04.2019 No Change during the year
8. Amit Jain 31.03.2020 0 12,922 0.26
Nari Dadlani 12,000 0.24 01.04.2019 No Change during the year
9. 31.03.2020 0 12,000 0.24
AFN 11,100 0.22 01.04.2019 No Change during the year
LANGRANA SHARE &
10. STOCK BROKERS PVT. LTD 31.03.2020 0 11,100 0.22

E. Shareholding of Directors and Key Managerial Personnel:

Shareholding at the beginning of the year

Cumulative Shareholding during theYear

S.No.For Each of the Directors and KMP No. of shares % of total shares of the company No. of shares % of total shares of the company
Alka Agarwal (CEO) At the beginning of the year 29,90,285 59.59
Transactions (purchase/ sale) from 1st April 2019 up to 31st March 2020) At the end of the year 29,90,285 59.59
Nikita Agarwal (Director) At the beginning of the year 3400 0.06
Transactions (purchase/ sale) from 1st April 2019 up to 31st March 2020) At the end of the year - 3,400 0.06

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 1,96,33,169 - - 1,96,33,169
(ii)Interest due but not paid - - - -
(iii)Interest accrued but not due - - - -
Total (i+ii+iii) 1,96,33,169 - - 1,96,33,169
Change in Indebtedness during the financial year
Addition 20,14,217 - - 20,14,217
Reduction - - - -
Net Change 20,14,217 - - 20,14,217
Indebtedness at the end of the financial year
(i)Principal Amount 2,16,47,386 2,16,47,386
(ii)Interest due but not paid - - - -
(iii)Interest accrued but not due - - - -
Total (i+ii+iii) 2,16,47,386 2,16,47,386

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

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

Sl. No. Particulars of Remuneration Name of MD/WTD/ Manager WTD-FIYAZ AHMED Total Amount (Rs.)
1. Gross salary 6,00,000 6,00,000
(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 - -
Commission - -
4. as % of profit others, specify
5. Others, please specify
Total (A) 6,00,000 6,00,000

 

Ceiling as per the Act In compliance with Schedule V of Companies Act 2013

B. Remuneration to other directors:

Particulars of Remuneration Name of Directors Total Amount
1. Independent Directors NIL -
Fee for attending board / committee meetings - -
Commission - -
Others, please specify - -
Total (1)
2. Other Non-Executive Directors NIL
Fee for attending board / committee meetings - -
Commission - -
Others, please specify - -
Total (2) - -
Total (B)=(1+2) - -
Total Managerial Remuneration - -
Overall Ceiling as per the Act - -

C. Remuneration to key managerial personnel other than md/manager/wtd:

Sl. no. Particulars of Remuneration

Key Managerial Personnel

CEO

Company Secretary

CFO

Total
1. Gross salary

15,00,000

3,82,500

2,64,000

21,46,500
(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

--

-

-

-
Commission

--

-

-

-
4. - as % of profit

--

-

-

-
- others, specify…

--

-

-

-
5. Others, please specify

--

-

-

-
Total

15,00,000

3,82,500

2,64,000

21,46,500

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

There are no PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES on the Company

Type Section of the Companies Act Brief Description Details of Penalty /Punishment/ Compounding fees imposed Authority [RD / NCLT / COURT] Appeal made, if any (give Details)
A. COMPANY NIL NIL NIL NIL NIL
Penalty NIL NIL NIL NIL NIL
Punishment NIL NIL NIL NIL NIL
Compounding NIL NIL NIL NIL NIL
B. DIRECTORS NIL NIL NIL NIL NIL
Penalty NIL NIL NIL NIL NIL
Punishment NIL NIL NIL NIL NIL
Compounding NIL NIL NIL NIL NIL
C. OTHER OFFICERS IN
NIL NIL NIL NIL NIL
DEFAULT
Penalty NIL NIL NIL NIL NIL
Punishment NIL NIL NIL NIL NIL
Compounding NIL NIL NIL NIL NIL

For and on behalf on the Board Sd/- Alok Krishna Agarwal Chairman

Place: New Delhi Date13th July, 2020