To the Members,
The Directors have pleasure in presenting their Seventy-Seventh Directors’ Report
of Modern Engineering and Projects Limited ("the Company") along with the
Audited Financial Statements for the year ended March 31, 2023.
1. FINANCIAL HIGHLIGHTS:
The financial performance of the Company during the financial year ended March 31,
2023, as compared to previous financial year are summarized below:
( In Lacs)
| Particulars |
March 31, 2023 |
March, 31 2022 |
| Income |
|
|
| Revenue from Operations |
6779.89 |
133.90 |
| Other Income |
163.45 |
7.03 |
| Total Income |
6943.34 |
140.93 |
| Profit before Tax |
(281.22) |
(308.45) |
| Profit after Tax |
(264.88) |
(299.31) |
| Other Comprehensive Income |
0 |
0 |
| Total Comprehensive Income |
(264.88) |
(299.31) |
2. STATE OF COMPANY’S AFFAIRS
O During the year under Revenue from operation of the Company has been increased from
Rs. 133.90 Lakhs to Rs. 6779.89 Lakhs as compared to previous year and other income has
been increased from Rs. 7.03 lakhs to Rs.163.45 lakhs. as compared to the previous year.
O The Company has booked loss of Rs. 264.88 Lakhs in financial year 2022-23.
3. DIVIDEND
Considering the loss incurred in the current financial year, your directors have not
recommended any dividend for the financial year under review.
4. TRANSFER TO RESERVES
Considering the loss incurred in the current financial year, your directors are not in
a position to recommend any amount to transfer in to the reserves.
5. SHARE CAPITAL AND CHANGES THEREIN
There was no change in the Authorized share capital of the Company during the financial
year. As on March 31, 2023, the paid-up equity share capital of your Company was
Rs.3,09,00,000 divided into 30,90,000 equity shares of Rs.10/- each.
6. ANNUAL RETURN
As required under section 92 of the Companies Act, 2013 (the "Companies Act")
the Annual Return for the financial year ended March 31, 2023 is available on the website
of the Company and can be accessed at www.mep.ltd
7. DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) of the Companies Act, 2013 the Board of Directors to the
best of their knowledge and ability confirms that: i. In the preparation of the annual
accounts for financial year ended March 31, 2023, the applicable accounting standards have
been followed along with proper explanation relating to material departures; ii. 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 financial year and of the Loss for that period;
iii. Have 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; iv. Have prepared
the annual accounts for financial year ended March 31, 2023 on a ‘going concern’
basis; v. Had laid down internal financial control to be followed by the Company and that
such internal financial controls are adequate and have been operating efficiently; and vi.
Have devised proper systems to ensure compliance with provisions of all applicable laws
and that such systems were adequate and operating effectively.
8. DEPOSITORY SYSTEM
Your Company’s Equity Shares are available for dematerialization through National
Securities Depository Limited (NSDL) and Central Depository Services (India) Limited
(CDSL). As on March 31, 2023, 99.34% of the Equity Shares of your Company were held in
dematerialized form.
9. Number of Meetings of the Board
During the financial year, the Board of Directors met 15 (Fifteen) times on May 30,
2022; July 28, 2022; August 06, 2022; August 13, 2022; August 26, 2022; August 30, 2022;
September 16, 2022; September 27, 2022; September 30, 2022; October 07, 2022; November 14,
2022; December 08, 2022; December 27, 2022; February 06, 2023 and March 20, 2023.
10. Committees of the Board A. Audit Committee Composition:
The Audit Committee of the Company comprises of Two Non-executive Director and one
Independent Directors as on March 31, 2023. The Audit Committee comprised of three members
i.e. Mr. Siddhant Singh, (Independent Director), Mr. Shashikant Bhoge (Non-Executive
director) and Ms. Vaishali Mulay, (Non-executive Director). The Board of Directors is in
process to appoint new Independent Director on the Board of the Company, after appointment
Board will reconstitute the Audit Committee in alignment with the provisions of Section
177 of Companies Act, 2013.
Terms of Reference:
The terms of reference of the Audit Committee approved by the Board as per the
provisions of section 177 of the Companies Act, 2013.
The primary objective of the Audit Committee is to monitor and provide effective
supervision of the management’s financial reporting progress with a view to ensuring
accurate timely and proper disclosures and transparency, integrity and quality of
financial reporting. The Committee oversees the work carried out by the management,
internal auditors, statutory auditors on the financial reporting process and the
safeguards employed by them. The Recommendation by the Audit Committee as and when made to
the Board has been accepted by it.
No. of Meetings:
During the financial year, members of the Audit Committee met 6 (Six) times on May 30,
2022; August 13, 2022; November 14, 2022; December 08, 2022; December 27, 2022 and
February 06, 2023.
B. Nomination & Remuneration Committee Composition:
The Nomination & Remuneration Committee of the Company comprises of Two
Non-executive Director and one Independent Directors as on March 31, 2023. The Nomination
& Remuneration Committee comprised of three members i.e. Mr. Siddhant Singh,
(Independent Director), Mr. Shashikant Bhoge (Non-Executive director) and Ms. Vaishali
Mulay, (Non-executive Director). The Board of Directors is in process to appoint new
Independent Director on the Board of the Company, after appointment Board will
reconstitute the Nomination & Remuneration Committee in alignment with the provisions
of Section 178 of Companies Act, 2013
Terms of Reference:
The terms of reference of the Nomination & Remuneration Committee approved by the
Board as per the provisions of section 178 of the Companies Act, 2013 are as follows: a.
Formulation of the criteria for determining qualifications, positive attributes and
independence of a director and recommend to the board of directors a policy relating to,
the remuneration of the directors, key managerial personnel and other employees; b.
Formulation of criteria for evaluation of performance of independent directors, Board, its
committee and individual directors; c. Devising a policy on diversity of board of
directors; d. Identifying persons who are qualified to become directors and who may be
appointed in senior management in accordance with the criteria laid down, and recommend to
the board of directors their appointment and removal; e. Whether to extend or continue the
term of appointment of the independent director, on the basis of the report of performance
evaluation of independent directors; f. Recommend to the Board, all the remuneration, in
whatever form, payable to senior management. g. Formulate detailed ESOS Plan and the terms
and conditions thereof including but not limited to determination of the Exercise Price,
Exercise Period, Lock in period, consequence of failure to exercise option, method of
valuation, accounting policies, disclosures, etc and matters related thereto
Number of Meetings
During the financial year, the members of the Nomination & Remuneration Committee
met 8 (Eight) times on July 28, 2022, August 06, 2022; August 26, 2022; August 30, 2022;
September 27, 2022; October 07, 2022; December 08, 2022 and December 27, 2022.
C. Stakeholders Relationship Committee
The scope of the Stakeholders Relationship Committee is to review and address the
grievances of the shareholders in respect of share transfers, transmission, issue of
duplicate/consolidated share certificates, allotment and listing of shares, non-receipt of
annual report, non- receipt of balance sheet, non-receipt of dividend etc. and other
related activities. In addition, the Committee also looks into matters that can facilitate
better investor’s services and relations.
Composition:
Composition of Stakeholders Relationship Committee is in alignment with the provisions
of Section 178 of Companies Act, 2013.
Terms of Reference:
The scope of the Stakeholders Relationship Committee is to review and address the
grievances of the shareholders in respect of share transfers, transmission, issue of
duplicate/consolidated share certificates, allotment and listing of shares, non-receipt of
annual report, non- receipt of balance sheet, non-receipt of dividend etc. and other
related activities. In addition, the Committee also looks into matters that can facilitate
better investor’s services and relations.
Status of Investor Complaints for the Financial Year ended March 31, 2023:
| Complaints outstanding as on April 01, 2022 |
0 |
| Complaints received during the financial year ended March 31, 2023 |
0 |
| Complaints resolved during the financial year ended March 31, 2023 |
0 |
| Complaints outstanding as on March 31, 2023 |
0 |
No. of Meetings
During the financial year, members of the Stakeholders Relationship Committee
does not meet.
11. POLICY ON DIRECTORS’ AND KEY MANAGERIAL PERSONNEL’S APPOINTMENT AND
REMUNERATION
The policy on appointment and remuneration including criteria for determining
qualifications, positive attributes, independence of Directors’ and Key Managerial
Personnel and other matters provided under Section 178(3) of the Companies Act, is
appended as Annexure I to this Report and also is available on the website of the Company
at www.mep.ltd
12. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
The details of loans given, Investments made and guarantees given and securities
provided by the company during the financial year ended March 31, 2023 have been provided
in the notes to the Financial Statements provided in this Annual report.
13. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
All contracts / arrangements / transactions entered by the Company during the financial
year under review with related parties as defined under the Companies Act, 2013, were in
the ordinary course of business and on an arm’s length basis. During the year, the
Company had not entered into any contract / arrangement / transaction with related parties
which could be considered material. Accordingly, the disclosure of Related Party
Transactions as required under Section 134(3) of the Companies Act in Form AOC-2 is not
applicable.
Attention of the members is drawn to the disclosures of transactions with the related
parties as per Indian Accounting Standard (IND AS) 24 is set out in Notes to Accounts
forming part of the financial statement forming part of Annual report.
14. 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 between the end of the financial year and the date of this report other than
those disclosed in this report.
15. PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNINGS AND OUTGO
Conservation of Energy
Your Company has taken necessary steps and initiative in respect of conservation of
energy to possible extent to conserve the energy resources.
Technology Absorption
Your Company is not engaged in any manufacturing activity, the particulars of
technology absorption as required under Section 134(3)(m) of the Companies Act, 2013 read
with the Companies (Accounts) Rules, 2014 are not applicable.
Foreign Exchange Earnings and Outgo
During the period under review, the Company had not earned any foreign exchange nor
incurred any outflows in foreign exchange.
16. RISK MANAGEMENT
Your Company is aware of the risks associated with the business. It regularly analyses
and takes corrective actions for managing/mitigating the same. Your Company has
institutionalized the policy/process for identifying, minimizing and mitigating risk which
is reviewed. The key risks and mitigation actions are placed before the Audit Committee.
17. CORPORATE SOCIAL RESPONSIBILITY
In terms of Section 135 of the Companies Act, 2013, provisions of Corporate Social
Responsibility are not applicable to the Company during the year under review.
Accordingly, company discontinue to maintain Corporate Social Responsibility (CSR)
Committee.
18. ANNUAL EVALUATION ON PEFORMANCE OF THE BOARD
The Board adopted a formal mechanism for evaluating performance of the Board, its
committees and individual Directors, including the Chairman of the Board pursuant to the
provisions of the Companies Act, 2013. The exercise was carried out through an evaluation
process as formulated by Nomination & Remuneration Committee (NRC) covering various
aspects of the Board’s functioning such as composition of the Board & committees,
experience & competencies, performance of specific duties & obligations,
contribution at the meetings and otherwise, independent judgement, governance issues etc.
All Directors participated in the evaluation. Evaluation was carried out on
individually excluding the Director being evaluated.
19. CHANGE IN THE NATURE OF BUSINESS
During the financial year ended March 31, 2023, there was no change in the nature of
business of the Company.
20. DIRECTORS AND KEY MANAGERIAL PERSONNEL a) Appointment/ resignation of Director:
The Board of Director, upon the recommendation of Nomination & Remuneration
Committee, appointed Mr. Sitaram Dhulipala (DIN: 03408989) as an Additional Whole-Time
Director and Mr. Sidhant Singh as an Additional Independent Director (DIN: 07769031) on
the Board of the Company with effect from August 06, 2022 and August 26, 2022
respectively. Appointment was approved by the members at 76th Annual General
Meeting of the Company held on September 30, 2022.
The Board of Director, upon the recommendation of Nomination & Remuneration
Committee, appointed Mr. Suraj Samat (DIN: 00587940) as an Additional Non-executive
Director with effect from October 07, 2022. His appointment was approved by the members at
Extra-ordinary General Meeting held on January 05, 2023.
Subsequent to the end of financial year, the Board of Director upon the recommendation
of Nomination & Remuneration Committee, appointed Dr. Pandit Sawant (DIN: 06581946) as
an Additional Non-executive Independent Director on the Board of the Company with effect
from May 30, 2023.
During the financial year under review, Mr. Jaipal Singh (DIN 03613609) due to
pre-occupation and Mr. Sukhdeep Singh (DIN: 07722411) due to personal reason has tender
his resignation from the post of director of the company with effect from September 27,
2022 and October 29, 2022 respectively. There is no other material reason for resignation.
Subsequent to the end of financial year Mr. Sidhant Singh (DIN: 07769031) due to
un-avoidable circumstance has tender his resignation from the post of director of the
company with effect from June 23, 2023. There is no other material reason for resignation.
b) Appointment/ resignation of Key Managerial personnel:
During the year under review Ms. Nidhi Kumari has resigned from the post of Company
Secretary & Compliance Officer of the Company with effect from July 28, 2022. Board of
Director of the Company on the recommendation of Nomination & Remuneration Committee
appointed Ms. Beena Khandelwal as a Company Secretary & Compliance officer of the
Company with effect from July 28, 2022.
During the year under review Mr. Subhas Chandra Bose has resigned from the post of
Chief financial officer of the Company with effect from December 15, 2022. Board of
Director of the company on the recommendation of Nomination & Remuneration Committee
appointed Mr. Naresh Sasanwar as Chief Financial officer of the company with effect from
December 27, 2022.
21. DECLARATION BY INDEPENDENT DIRECTOR
Independent Director of the Company have submitted the declarations of independence as
required under Section 149(7) of the Companies Act, 2013 confirming that they meet the
criteria of independence under section 149(6) of the Companies Act, 2013 and Regulation 16
of Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations 2015. 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.
The Board is also of the opinion that the Independent Directors of the Company possess
requisite qualifications, experience and expertise in the field of finance, strategy,
auditing, tax, risk advisory, financial services, infrastructure and real estate industry
and they hold the highest standards of integrity.
In compliance with rule 6(1) of the Companies (Appointment and Qualification of
Directors) Rules, 2014, all the Independent Directors have included their names in the
data bank of Independent Directors maintained by the Indian Institute of Corporate
Affairs.
22. FAMILARISATION PROGRAMME FOR INDEPENDENT DIRECTORS
The details of familiarization Programme to Independent Director, their roles, rights,
responsibilities in the Company, nature of the industry in which the Company operates,
business model of the Company and related matters is uploaded on the website of the
Company at the link www.mep.ltd.
23. COMPLIANCE WITH SECRETARIAL STANDARDS
The Company complies with Secretarial Standards on Meetings of the Board of Directors
(SS-1) and General Meetings (SS-2) issued by the Institute of Company Secretaries of
India.
24. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES
As at March 31, 2023, the company does not have subsidiary company, Joint venture
Company and Associate Company.
Further as on March 31, 2023 the company have 1(one) Joint venture in the form of
Association of person (AOP) with MEP Infrastructure Developers Limited namely
"MEPIDL-MCL JV" Further subsequent to the end of financial year company has
entered into Join Venture with Aquatech Solutions Private Limited namely
"Aquatech-MEPL JV" in the form of AOP for jointly execution of contract of
Khopoli Municipal Sewerage Scheme.
Further during the financial year ended March 31, 2023 no company become or ceased to
be its Subsidiaries, Joint Venture or Associate company of the company.
25. DETAILS RELATING TO DEPOSITS, COVERED UNDER CHAPTER V OF THE COMPANIES ACT, 2013
The Company has not accepted any Deposits within the purview of Section 73 to 76 of the
Companies Act, 2013 read with The Companies (Acceptance of Deposits) Rules, 2014. Further
no amount on account of principal or interest on public deposits was outstanding as on
March 31, 2023.
Further as on March 31, 2023 outstanding amount of Loan from Director is Rs.
2,54,91,782/- (Rupees Two Crores Fifty-four Lakhs Ninety-one Thousand Seven Hundred and
Eighty-two Only).
26. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS
There are no significant material orders passed by the regulators/Courts/ tribunals
which would impact the going concern status of the Company and its future operations.
27. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH RESPECT TO FINANCIAL STATEMENTS
The Company has an internal financial control system commensurate with respect to its
financial statements which provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements. The Audit Committee has
in place a mechanism to identify, assess, monitor and mitigate various risks to key
business objectives. The Audit Committee has a process for timely check for compliance
with the operating systems, accounting procedures and policies. Major risks identified by
the businesses and functions are systematically addressed through mitigating action on
continuing basis.
28. STATUTORY AUDITORS AND AUDITORS’ REPORT
The members of the Company at their Extra-ordinary General Meeting held on January 5,
2023 had appointed M/s. K K A B & Co. LLP, Chartered Accountants, Mumbai, (FRN:
0132029W/ W-10024) as the Statutory Auditor to fill casual vacancy caused due to
resignation of Auditor who shall hold office upto the date of ensuing Annual General
Meeting.
On the recommendation of Audit Committee Board of Directors of the company recommended
the appointment of M/s. S k Patodia & Associates, Chartered Accountant having Firm
Registration No. 112723W as a Statutory Auditors of the Company for a period of five
consecutive years i.e from the conclusion of this 77thAnnual General Meeting of
the Company till the conclusion of the 82nd Annual General Meeting of the
Company to be held in the year 2028.
The Report issued by M/s. K K A B & Co. LLP on the financial statements of the
Company for the financial year ended March 31, 2023 forms part of the Annual Report. There
are no qualifications, reservations or adverse remarks or disclaimers made by M/s. K K A B
& Co. LLP, Statutory Auditors, in their report.
29. SECRETARIAL AUDITORS AND AUDITORS’ REPORT
The Board of Directors of the Company has appointed M/s. Ramesh Chandra Mishra &
Associates, Practicing Company Secretary as Secretarial Auditor to conduct the Secretarial
Audit and his Report for the financial year ended March 31, 2023 is appended to this
Report as ANNEXURE II.
There are no other qualifications, reservations or adverse remarks or disclaimers made
by M/s. Ramesh Chandra Mishra & Associates, Practicing Company Secretary, in their
Secretarial Audit Report except the following observations:
1. The Company has not complied with the Section 149(4) of the Companies Act, 2013, as
the Company has only one Independent Director on the Board. Thus, the Board does not have
proper composition.
2. Section 177(2) of the Companies Act of 2013 states that the audit committee must
have a minimum of three directors, with independent directors constituting a majority. The
Company has not complied with the Section 177(2) of the Companies Act, 2023 with the
composition of the audit committee also.
3. Company has also not complied with the Section 178(1) of the Companies Act, 2013,
which states that the Nomination and Remuneration Committee consisting of three or more
non-executive directors out of which not less than one-half shall be independent director.
Management Reply:
1. The Board is in process to identify a suitable person to be appointed as an
Independent Director on the Board.
2. Once Independent director is appointed on the Board of the Company, the Board will
re-constitute both the Committees i.e. Audit Committee and Nomination & Remuneration
Committee in compliance with the Section 177 and 178 of the Companies Act, 2013
30. MAINTENANCE OF COST RECORDS & COST AUDIT
Maintenance of cost records and requirement of cost audit as prescribed under the
provisions of Section 148 of the Act, are not applicable upon the company during the
financial year ended March 31, 2023.
31. INSTANCES OF FRAUDS, IF ANY REPORTED BY AUDITORS
During the financial year under review, the Statutory Auditors and Secretarial Auditor
has not reported any instance of frauds committed in the Company by its officers or
employees to the Audit committee or to the central Government under Section 143(12) of the
Companies Act, details of which needs to be mentioned in this Report.
32. WHISTLE BLOWER POLICY/ VIGIL MECHANISM
The Company has a Whistle Blower Policy in line with the provisions of the Section 177
of the Companies Act, 2013. This policy establishes a vigil mechanism for directors and
employees to report their genuine concerns, actual or suspected fraud or violation of the
Company’s code of conduct.
The said mechanism also provides for adequate safeguards against victimisation of the
persons who use such mechanism and makes provision for direct access to the chairman of
the Audit Committee.
The administration of the vigil mechanism is being done through Audit Committee. We
confirm that during the financial year ended March 31, 2023. no employee of the Company
was denied access to the Audit Committee. The said Whistle Blower Policy is available on
the website of the Company at www.mep.ltd
33. DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
& REDRESSAL) ACT, 2013
Your Company is committed to creating and maintaining an atmosphere in which employees
can work together, without fear of sexual harassment, exploitation and intimidation. Your
Company has complied with the provisions relating to the constitution of Internal
Complaints Committee under the Sexual Harassment of Women at the Workplace (Prevention,
Prohibition & Redressal) Act 2013. Internal Complaints Committee (ICC) was set up to
redress complaints received regarding sexual harassment.
The following is a summary of sexual harassment complaints received and disposed of
during the year:
| No. of Complaints received |
Nil |
| No. of Complaints disposed off |
Nil |
34. REPORT ON CORPORATE GOVERNANCE
In terms of Regulation 15(2) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended from time to time, the compliance of
provisions of the Corporate Governance under Regulation 27(2) of the Listing Regulations
is not applicable to the Company as paid up equity share capital of the Company is not
exceeding Rs. 10 Crores and net worth is not exceeding Rs. 25 Crores, as on the last day
of previous financial year.
Pursuant to the provisions of the Listing Regulations, your Company has taken adequate
steps to ensure that all mandatory provisions of Corporate Governance as prescribed under
the Listing Regulations are complied with.
35. MANAGEMENT’S DISCUSSION AND ANALYSIS REPORT
The Management’s Discussion and Analysis Report for the financial year ended March
31, 2023, as stipulated under Regulation 34(2) of SEBI Listing Obligation and Disclosure
Requirements) Regulation, 2015, is appended as ANNEXURE III to this report.
36. PARTICULARS OF EMPLOYEES
Disclosures with respect to the remuneration of directors and employees as required
under Section 197(12) of the Companies Act and Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 as amended has been appended as ANNEXURE
IV to this Report.
As per the second proviso to Section 136(1) of the Companies Act and the second proviso
of Rule 5 of the Companies (Appointment and Remuneration) Rules, 2014 the Directors’
Report and Financial Statements are being sent to the Members of the Company excluding the
statement of particulars of employees under Rule 5(2) of the Companies (Appointment and
Remuneration) Rules, 2014. If any Member is interested in obtaining a copy thereof, the
Member may write to the Company Secretary, whereupon a copy would be sent to such Member.
37. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR ALONG WITH THEIR STATUS AS AT THE
END OF THE FINANCIAL YEAR
There are no applications made or any proceeding pending against the Company under
Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the financial year.
38. 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 financial year under review, there were no instances of one-time settlement
with any bank or financial institution.
39. DISCLOSURES WITH RESPECT TO DEMAT SUSPENSE ACCOUNT / UNCLAIMED SUSPENSE ACCOUNT
The Company does not have any shares lying in its Demat Suspense Account / Unclaimed
Suspense Account.
40. AGREEMENTS RELATING TO THE COMPANY
There are no agreements with any party which impact the management or control of the
Company or impose any restriction or create any liability upon the Company.
41. ACKNOWLEDGEMENT
The Directors wish to place on record their appreciation and sincere thanks to the
State Governments, Government agencies, Banks & Financial Institutions, joint venture
partners, shareholders, vendors and other related organizations, who through their
continued support and co-operation have helped, as partners in your Company’s
progress. The Directors, also acknowledge the hard work, dedication and commitment of the
employees for the growth of the Company and look forward to their continued involvement
and support.
|
For and on behalf of the Board of Directors of |
|
|
Modern Engineering and Projects Limited |
|
|
Jashandeep Singh |
Sitaram Dhulipala |
| Place: Mumbai |
Managing Director |
Whole-time Director |
| Date: August 10, 2023 |
DIN: 02357390 |
DIN: 03408989 |
+91-9892691696
