To,
The Members,
MUKTA AGRICULTURE LIMITED
Your Directors are pleased to present the 12 th Annual Report along with the
Audited Accounts for the Financial Year ended 31st March, 2023.
1. FINANCIAL PERFORMANCE OF THE COMPANY
|
|
(Rs. In Lakhs) |
| Particulars |
Year ended March 31, 2023 |
Year ended March 31, 2022 |
| Profit/(Loss) before interest, depreciation, tax and Extra Ordinary Items |
762.09 |
(462.94) |
| Less: Exceptional Items |
1571.05 |
|
| Less: Depreciation/amortization |
|
|
| Profit/(Loss) before interest, tax and Extra Ordinary Items |
(808.95) |
(462.94) |
| Less: Finance Costs |
- |
- |
| Profit/(Loss) before tax and Extra Ordinary Items |
- |
- |
| Less: Provision for taxes on income |
- |
|
| --Current tax |
- |
- |
| --Deferred tax liability / (asset) |
- |
- |
| --MAT Credit Entitlement |
- |
- |
| Profit/(Loss) before Extra-Ordinary Items |
(808.95) |
(462.94) |
| Extra Ordinary Items (Net of Tax) |
|
|
| Profit/ (Loss) for the year |
(808.95) |
(462.94) |
| Other Comprehensive Income |
(68.1) |
(16.51) |
| Total Comprehensive Income for the year |
(877.06) |
(29.77) |
2. STATE OF COMPANYS AFFAIRS
The liquidity position of the company has been strained due to the challenging
financial environment. Efforts to curtail costs have been undertaken across various
departments. The companys revenue streams have been adversely affected by the market
conditions.
During the year under review. The Company has recorded a total net loss of Rs.
80,895,724/- for the financial year ended 31st March 2023 as against Net loss of Rs.
4,629,454/- in the previous financial year. The Basic Earnings per Share for the financial
year ended 31st March 2023 is Rs. 3.73/- as against Rs. -0.21 /- for the corresponding
previous financial year ended 31st March 2022.
3. DIVIDEND & RESERVES
Your Directors do not recommend any dividend for the year ended 31st March,
2023 and no amount was transferred to Reserves.
4. SHARE CAPITAL
The paid up Equity Share Capital as on 31st March, 2023 is Rs.
21,68,17,710/- (Rupees Twenty-One Crore Sixty- Eight Lakhs Seventeen Thousand Seven
Hundred and Ten Only) divided into 2,16,81,771 (Two Crores Sixteen Lakhs Eighty-one
Thousands Seven Hundred and Seventy- One) Equity Shares of the face value of Rs. 10/-
each.
During the year under review, the Company has not issued any shares with or without
differential voting rights. It has neither issued employee stock options nor Sweat Equity
Shares and does not have any scheme to fund its employees to purchase the shares of the
Company.
5. DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP)
Director retires by rotation:
In accordance with the provisions of Section 152 of the Companies Act, 2013 and in
terms of Articles of Association of the Company, Mrs. Asha Krishan Khadaria, Non-Executive
Director of the Company, retires by rotation, at the forthcoming Annual General Meeting
(AGM) and, being eligible, offers herself for re-appointment. The Board of Directors on
the recommendation of the Nomination and Remuneration Committee ("NRC")
recommend her re-appointment. The brief resume of Mrs. Asha Krishan Khadaria and other
relevant details are given in the accompanying notice of AGM.
Appointment and cessation of Directors during the year:
• During the period under review, there were no changes in the composition of
Board of Directors of the Company.
Declaration by Independent Directors:
In terms of the provisions of sub-section (6) of Section 149 of the Act and Regulation
16 of SEBI Listing Regulations including amendments thereof, the Company has received
declarations from all the Independent Directors of the Company that they meet with the
criteria of independence, as provided in the Act and SEBI Listing Regulations. There has
been no change in the circumstances affecting their status as an Independent Director
during the year. Further, the Non- Executive Directors of the Company had no pecuniary
relationship or transactions with the Company.
The Board is of the opinion that the Independent Directors of the Company possess
requisite qualifications, experience and expertise and they hold highest standards of
integrity.
The Independent Directors have confirmed that they have registered their names in the
data bank maintained with the Indian Institute of Corporate Affairs (‘IICA). In
terms of Section 150 of the Act read with Rule 6(4) of the Companies (Appointment &
Qualification of Directors) Rules, 2014, the Independent Directors are required to
undertake online proficiency self assessment test conducted by the IICA within a period of
two year from the date of inclusion of their names in the data bank. The Independent
Directors to whom the provisions of proficiency test are applicable, will take the said
online proficiency self-assessment test in due course.
The Company have also received a declaration from all the Independent Directors under
Rule 6 sub-rule (3) of The Companies (Appointment and Qualifications of Directors) Rules,
2014, regarding inclusion of their name in Data Bank of Independent Director maintained by
the Indian Institute of Corporate Affairs at Manesar.
Appointment and Cessation of KMP during the year:
During the year under review, at the 11th AGM held on 29th September, 2022, Mr. Mohit
Khadaria (DIN: 05142395) was re-appointed as the Managing Director of the Company on
recommendation of Nomination and Remuneration Committee, in the Board-meeting held on 5th
September, 2022 for a further period of 5(five) years from the expiry of his present term,
i.e., with effect from 13th December, 2022.
Pursuant to Section 203 of the Act, the Key Managerial Personnel ("KMP") of
the Company as on March 31, 2023 are:
• Mr. Mohit Khadaria, Managing Director
• Mr. Rakesh Sahewal, Chief Financial Officer
• Mr. Aashish Garg, Company Secretary & Compliance Officer
Information regarding the directors seeking appointment/ re-appointment:
The Board of Directors at its meeting held on 28th July, 2023, based on the
recommendation of the Nomination and Remuneration Committee of the Company, approved the
appointment of Mr. Manaklal Agrawal (DIN: 10214780) as an Additional Director (in the
capacity of an Independent Director) of the Company for a term of five consecutive years
with effect from 28th July, 2023 to fill the casual vacancy (caused by the resignation
tendered by Mr. Narendra Gupta w.e.f. 18th May, 2023), and who has submitted a declaration
that he meets the criteria of independence under Section 149(6) of the Act and Regulation
16(1)(b) of the Listing Regulations and is eligible for appointment under the provisions
of the Act, the Rules made thereunder and the Listing Regulations, as an Independent
Director of the Company, not liable to retire by rotation, to hold office for a term of 3
(three) consecutive years commencing from, from 28th July, 2023 up to 27th July, 2026,
including the period from 28th June, 2024 when he shall attain 75 years of age.
In view the above, consent of the members for appointment of Mr. Manaklal Agrawal as an
Independent Director, is sought by way of Ordinary resolution, as set out in Item No. 3 of
the Notice to 12th AGM.
Pursuant to the provisions of the Companies Act, 2013, the members at the 7th AGM of
your Company held on 30th September, 2018 appointed Ms. Niraali Thingalaya (DIN:
08125213), as Independent Non-Executive Director of the Company to hold office for a term
of 5 consecutive years for a term upto 29th September, 2023. Ms. Niraali Thingalaya, is
eligible for re-appointment as an Independent Non-Executive Director for a second term of
5 consecutive years.Pursuant to the applicable statutory provisions and based on the
recommendation of the Nomination and Remuneration Committee, the Board recommends for the
approval of the members through a Special Resolution at the 12 th AGM of your Company, the
re-appointment of Ms. Niraali as in Independent Non-Executive Director for a second term
of 5 consecutive years w.e.f. 29th September, 2023 till 28th September, 2028.
The Resume/ Profile and other information regarding the directors seeking
appointment/re- appointment as required by the Regulation 36(3) of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 & SS-2 of ICSI have been
given in the Notice convening the 12 th AGM of the Company.
Familiarization Program:
In terms of Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulation, 2015, the Company periodically organizes a program in order to familiarize
Independent Directors with the Companys operations. The details of familiarization
programme have been posted on the website of the Company under the web link:
https://www.mukta-agriculture.com/investors.html
Key Managerial Personnel:
As on 31st March, 2023, Mr. Rakesh Sahewal, CFO, Mr. Mohit Khadaria,
Managing Director & Mr. Ashish Garg, Company Secretary are the KMPs of the Company.
None of the Directors are disqualified from being appointed as Directors as specified
in section 164 of Companies Act, 2013.
6. CHANGE IN NATURE OF BUSINESS
During the year, there was no change in the nature of business activities of the
Company.
7. COMPLIANCE WITH SECRETARIAL STANDARDS
The Company has complied with the applicable mandatory Secretarial Standards issued by
the Instituteof Company Secretaries of India.
8. DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 134 of the Act the Board of Directors, to the
best of their knowledge and ability, confirm that:
a) in the preparation of the annual accounts for the year ended 31st March,
2023, the applicable Accounting Standards had been followed and there is no material
departures from the same;
b) they have selected such accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a true and fair view
of the state of affairs of the Company at the end of the financial year and of the Loss of
the Company for that period;
c) they have taken proper and sufficient care for the maintenanceof adequate accounting
records in accordance with theprovisions of the Companies Act, 2013 for safeguarding the
assets of the Company and for preventing and detecting fraud and other irregularities;
d) they have prepared the annual accounts for the financial year ended 31st
March, 2023 on a going concern basis;
e) they have laid down internal financial controls to be followed by the Company and
that such internal financial controls are adequate and were operating effectively; and
f) they have devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems areadequate and operating effectively.
9. MEETINGS OF THE BOARD
During the year under review, 7 (Seven) meetings of the Board of Directors were held.
For details of the meetings of the board, please refer to the Corporate Governance Report,
which forms part of this report.
10. COMMITTEES OF THE BOARD
Pursuant to requirement under Companies Act, 2013 and SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the Board of Directors has constituted various
committees of Board such as:S
a) Audit Committee;
b) Nomination & Remuneration Committee; and
c) Stakeholders Relationship Committee.
The details with respect to the composition, powers, roles, terms of reference, number
of meetings held, attendance at the meetings etc. of statutory committees are given in
detail in the Corporate Governance Report, which forms part of this Report.
11. DETAILS OF SUBSIDIARY/JOINT VENTURES/ ASSOCIATE COMPANIES
Your Company does not have any subsidiary, Joint Ventures and Associate Company for the
year ended 31st March, 2023.
12. EMPLOYEE STOCK OPTION SCHEME
Presently, the Company does not have a scheme for grant of stock options to its
employees.
13. PARTICULARS OF EMPLOYEES
The information as per the provisions of Section 197(12) of the Companies Act read with
Rule 5(2) and 5(3) of Companies (Appointment & Remuneration of Managerial Personnel)
Rules, 2014 forms part of this Report. However, as per first proviso to Section 136(1) of
the Act and second proviso of Rule 5(2) of the Rules, the Report and Financial Statements
are being sent to the Members of the Company excluding the statement of particulars of
employees under Rule 5(2) and 5(3) of the Rules. Any Member interested in obtaining a copy
of the said statement may write to the Company Secretary at the Registered Office of the
Company or on the email address of the Company i.e. mukta.agriculture@gmail.com
The statement of Disclosure of Remuneration under Section 197(12) of the Act read with
the Rule 5 (1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014 ("Rules") is mentioned below.
Statement of Disclosure of Remuneration under Section 197 of Companies Act, 2013 and
Rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014:
1. The Ratio of the remuneration of each director to the median remuneration of the
employees of the company for the Financial Year 2022-23: Not applicable as your Company is
not providing any remuneration to the Directors of the company.
2. Percentage increase in remuneration of each Director, CFO and Company secretary :
During the year under review, no Sitting fees or remuneration was paid to the Directors
& percentage increase in the salary of CFO is 21.11%. There wa.s no increase made in
the salary of Company Secretary.
3. The percentage increase in the median remuneration of employees in the Financial
Year 2022-23: During the Financial Year under review, the median remuneration is Rs
2,50,567 p.a. and the percentage increase in Median Remuneration of employees is 12.07%.
4. The number of permanent employees on the rolls of company as on 31st
March, 2023: Five,
5. Average percentile increase already made in the salaries of employees other than the
managerial personnel in the last financial year and its comparison with the percentile
increase in the managerial remuneration and justification thereof and point out if there
are any exceptional circumstances for increase in the managerial remuneration: Average
percentile increase made in the salaries of employees other than the managerial personnel
in the last financial year is 24.45%. As compare to percentile increase in the managerial
remuneration which is 12.07% increase made in salaries of other employees. There are no
other exceptional circumstances for increase in the remuneration of key managerial
personnel and increase in remuneration has been in accordance with the Companys policies.
6. It is hereby affirmed that the remuneration paid during the year is as per the
Remuneration Policy of the Company.
14. SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION. PROHIBITION AND REDRESSAL)
ACT. 2013
Your Company has in place a formal policy for prevention of sexual harassment of its
women employees in line with "The Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013. The constitution of Internal Complaints
Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013 is not applicable on your Company and there were no complaint about
sexual harassment during the year under review.
15. CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
Since the Company is neither engaged in any manufacturing activity nor the Company has
any manufacturing unit, therefore there prescribed particulars with regards to compliance
of rules relating to conservation of Energy and Technology absorption pursuant to Section
134 (3) (m) of the Companies Act, 2013, read with Rule - 8 (3) of the Companies (Accounts)
Rules,
2014 are not applicable on your Company.
16. FOREIGN EXCHANGE EARNINGS AND OUT-GO
During the period under review there were no foreign exchange earnings or out flow.
17. DEPOSITS
During the year under review, your Company has not invited or accepted any deposits
from the public in terms of Chapter V of the Companies Act, 2013.
18. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
The details of loans and Investments covered under section 186 of the Companies Act,
2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014 for the
financial year 2022-23 are given in the Notes on financial statement referred to in the
Auditors Report.
19. RELATED PARTY TRANSACTIONS
All related party transactions entered into during the period under review were placed
before the Audit Committee and the Board for their approval, and the same are disclosed in
the financial statements of your Company. Further, in terms of the provisions of section
188(1) of the Act read with the Companies (Meetings of Board and its Powers) Rules, 2014
and regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, all contracts/ arrangements/transactions entered into by the Company
with its related parties during the year under review were in ordinary course of business
of the Company, on an arms length basis and in accordance with the policy on related
party transactions formulated by the Company and reviewed on a periodic basis.
In line with the requirements of the Act and SEBI (Listing Obligation and Disclosure
Requirements) Regulations, 2015, your Company has formulated a policy on related party
transactions which is available on Companys website at https://www.mukta-
agriculture.com/pdfs/Policy on Related Party Transaction.pdf.
The related party disclosures as specified in Para A of Schedule V read with Regulation
34(3) of the Listing Regulations are given in the Financial Statements.
20. STATUTORY AUDITORS & AUDITORS REPORT
M/s. Sunil Vankawala and Associates, Chartered Accountants (Registration No. 110616W)
were appointed as Auditors of the Company for a term of 5 (five) consecutive years, at the
Annual General Meeting held on 30th September, 2020 till the conclusion of the
14th AGM.
In accordance with the Section 40 of the Companies (Amendment) Act, 2017, the
appointment of Statutory Auditors is not required to be ratified at every AGM. Thus, M/s.
Sunil Vankawala and Associates will continue to hold office till the conclusion of 14 th
AGM. The Auditors have confirmed that they are not disqualified from continuing as
Auditors of the Company. The Notes on financial statement referred to in the Auditors
Report are self-explanatory and do not call for any further comments.
The Auditors Report on financial statements is a forming part of this Annual Report.
There has been no qualification, reservation, adverse remark or disclaimer given by the
Auditors in their Report. During the year, the Statutory & Internal Auditors had not
reported any matter under Section 143(12) of the Companies Act, 2013, therefore no detail
is required to be disclosed under Section 134(3)(ca) of the Companies Act, 2013.
21. SECRETARIAL AUDITORS & AUDITORS REPORT
Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, read with Regulation 24A of the Listing
Regulations, the Board of Directors of the Company had re-appointed M/s. Komal Khadaria
& Co., Practicing Company Secretary as Secretarial Auditors to undertake the
secretarial audit of the Company for the financial year 2022-23. The Secretarial Audit
Report is annexed herewith as ANNEXURE II, which forms an integral part of this report.
During the year, the Secretarial Auditors had not reported any matter under Section
143(12) of the Act, therefore no detail is required to be disclosed under Section 134(3)
(ca) of the Act.
There was nil observations made by the Secretarial Auditor in their report.
22. CORPORATE GOVERNANCE
In compliance with the Regulation 34 read with Schedule V of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, a detailed report on Corporate
Governance forms an integral part of this Annual Report. A Certificate from the statutory
auditors, M/s. Sunil Vankawala and Associates, confirming compliance of the conditions of
Corporate Governanceas stipulated under the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 is appended to the Corporate Governance Report. A
Certificate of the CEO/MD and CFO of the Company in terms of Regulation 17(8) of the
Listing Regulations is forming part of Corporate Governance Report as Annexure IV.
23. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS OTHER THAN THOSE WHICH ARE
REPORTABLE TO THE CENTRAL GOVERNMENT
The Statutory Auditors, Internal Auditor or Secretarial Auditor of the Company have not
reported any frauds to the Audit Committee or to the Board of Directors under Section
143(12) of the Companies Act, 2013 including rules made thereunder.
24. ANNUAL RETURN
Pursuant to the provisions of Section 92(3) and 134(3)(a) of the Companies Act, 2013
and amendments thereof and in compliance of the Companies (Amendment) Act, 2017, effective
August 28, 2020, the draft Annual Return for the financial year 2022-23 in prescribed form
MGT-7 is placed on the website of the Company at the following link: www.mukta-
agriculture.com.
This Annual Return is subject to such changes / alterations / modifications as may be
required to carry out subsequent to the adoption of the Directors Report by the
Shareholders at the 12 th Annual General Meeting and receipt of Certificate from
Practising Company Secretary (PCS) which the Shareholders agree and empower the Board /
Company and the copy of the final Annual Return as may be filed with the Ministry of
Corporate Affairs would be furnished on the website of the Company.
25. CORPORATE SOCIAL RESPONSIBILITIES INITIATIVES
The prerequisite in terms of Section 135 of the Companies Act, 2013 of corporate social
responsibility does not apply to the Company.
26. INTERNAL CONTROL SYSTEMS
The Company has adequate and robust Internal Control System, commensurate with the
size, scale and complexity of its operation. The Internal Control System is placed to
safeguard and protect from loss, unauthorized use or disposition of its assets. All the
transactions are properly authorized, recorded and reported to the Management. Internal
Audit is carried out in a programmed way and follow up actions were taken for all audit
observations. Your Companys Statutory Auditors have, in their report, confirmed the
adequacy of the internal control procedures.
27. MANAGEMENT DISCUSSION AND ANALYSIS REPORT
As required under Regulation 34 (3) of the SEBI (Listing Obligation and Disclosure
Requirements) Regulations, 2015, a detailed Management Discussion and Analysis Report have
been given separately as Annexure I forming part of the Annual Report.
28. VIGIL MECHANISM / WHISTLE BLOWER POLICY
Your Company has formed a Whistle Blower Policy for establishing a vigil mechanism for
directors and employees to report genuine concerns regarding unethical behavior and
mismanagement, if any. The said mechanism also provides for strict confidentiality,
adequate safeguards against victimization of persons who use such mechanism and makes
provision for direct access to the chairperson of the Audit Committee in appropriate
cases. No personnel have been denied access to the Audit Committeepertaining to the
Whistle Blower Policy.
The said Whistle Blower Policy has been disseminated on the Companys website at
https://www.mukta-agriculture.com/investors.html.
29. PERFORMANCE EVALUATION OF THE BOARD
Pursuant to the provisions of Section 134(3), Section 149(8) and Schedule IV of the Act
read with SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, Annual
Performance Evaluation of the Board, the Directors as well as Committees of the Board has
been carried out. The performance evaluation of all the Directors and the Board as a whole
was conducted based on the criteria and framework adopted by Nomination & Remuneration
Committee, details of which are provided in the Corporate Governance Report.
The performance evaluation of the Independent Directors was carried out by the entire
Board and the performance evaluation ofthe Non-Independent Directors was carried out bythe
Independent Directors in their separate meeting. The Board of Directors expressed their
satisfaction with the evaluation process.
30. RISK MANAGEMENT
The Board of Directors of the Company has made a Risk Management Policy which require
them to aware the shareholders of the Company regarding development and implementation of
risk management plan for the Company, including identification therein of elements of
risks, if any, which in their opinion might threaten the existence of the Company, the
management plan to mitigate the same and ensuring its effectiveness. The Audit Committee
has additional oversight in the area of financial risks and controls. The details of the
Policy have been posted on the Companys website www. mukta- agriculture .com
31. DIRECTORS APPOINTMENT AND REMUNERATION POLICY
The Board of Directors has framed a Policy which lays downa framework in relation to
remuneration of Directors, KMP and other employees of the Company.
The said Policy is available on the Companys website
http://www.mukta-agriculture.com/pdfs/N ominationRemunerationPolicy.pdf.
32. MATERIAL CHANGES AND COMMITMENTS
There are no material changes and commitments, affecting the financial position of the
Company, between the end of the financial year of the Company i.e. 31st March,
2023 and the date of this Report.
33. COST RECORDS AND COST AUDIT
In accordance with Section 148(1) of the Companies Act, 2013, the provision relating to
maintenance of cost records and requirement of cost audit are not applicable to the
Company during the year under review due to business activities carried out by the
Company.
34. SIGNIFICANT AND MATERIAL ORDERS PASSED BY REGULATORS /COURTS /TRIBUNALS
There are no significant or material orders passed by the Regulators or Courts or
Tribunals which impacts the going concern status of the Company and its future operations.
35. DETAILS OF RECOMMENDATIONS OF AUDIT COMMITTEE & BOARDS CONSIDERATION UPON IT:
The Audit Committee generally makes certain recommendation to the Board of Directors of
the Company during their meetings held to consider the financial results and such other
matters placed before the Audit Committee as per the Companies Act, 2013 and SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 from time to time. During the
year the Board has considered all the recommendations made by the Audit Committee and has
carried on the recommendations suggested by the Committee to its satisfaction. Thus, there
are no recommendations unaccepted by the Board during the year under review.
36. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR ALONGWITH THEIR STATUS AS AT THE END OF
THE FINANCIAL YEAR
During the year under review, there was no application made before National Company Law
Tribunal for initiation of insolvency proceeding against the Company nor any proceeding
were pending under the insolvency and bankruptcy code, 2016 (31 of 2016).
37. 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, the requirement of this clause was not applicable.
38. GENERAL
Your Directors state that no disclosure or reporting is required in respect of the
following items as there were no transactions on these items during the year under review:
i) Issue of equity shares with differential rights as to dividend, voting or otherwise.
ii) The Company does not have any scheme or provision of money for the purchase of its
own shares by employees/ Directors or by trustees for the benefit of employees/ Directors
iii) Issue of shares (including sweat equity shares) to employees of the Company.
iv) there were no foreign exchange earnings or out flow.
39. GREEN INITIATIVES
The Company supports and pursues the ‘Green Initiative" of the Ministry of
Corporate Affairs, Government of India. Members are requested to support green initiative
by registering their email id (a) in case of electronic / demat holding with their
respective Depository Participant and (b) in case of physical holding either with the RTA
by sending e-mail to info@bigshareonline .com or with the Company by sending e-mail to
mukta.agriculture@gmail.com by quoting name and folio number.
This initiative would enable the members to receive communication promptly besides
paving way for reduction in paper consumption and wastage. You would appreciate this
initiative taken by the Ministry of Corporate Affairs and your Companys desire to
participate in the initiative. If there is any change in e-mail id, shareholder can update
his / her e-mail id in same manner as mentioned above.
Further, pursuant to the MCA Circulars and SEBI Circular, in view of the prevailing
situation, owing to the difficulties involved in dispatching of physical copies of the
Notice of the 12th AGM and the Annual Report for the financial year 2022-23, are being
sent only by email to the Members. Members may note that this Notice and Annual Report
2022-23 will be available on the Companys website www.mukta-agriculture.com, websites of
the Stock Exchanges i.e. BSE Limited at www.bseindia.com.
40. SHARES:
a) Buy Back of Securities:
The Company has not bought back any of its securities during the year under review.
b) Sweat Equity:
The Company has not issued any Sweat Equity Shares during the year under review.
c) Bonus Shares:
No Bonus Shares were issued during the year under review.
d) Employees Stock Option Plan:
The Company has not provided any Stock Option Scheme to the employees.
e) Change in Share Capital:
There has been no change in the Share Capital of the Company during the year 2022-23.
41. ACKNOWLEDGEMENT
Your Directors express deep sense of appreciation to the members, investors, bankers,
service providers, customers, and other business constituents for their continued faith,
abundant assistance and cooperation extended to the Company. Your Directors would like to
make a special mention of the support extended by the various Departments of Government of
India, the State Governments, particularly, the Tax Authorities, the Ministry of Commerce,
Ministry of Corporate Affairs, Securities and Exchange Board of India and others and look
forward to their continued support in all future endeavors.
Your Directors also sincerely appreciate the high degree of professionalism, commitment
and dedication displayed by employees at all levels thereby contributing largely to the
growthand success of the Company.
|
By and on behalf of the Board |
|
For Mukta Agriculture Limited |
|
Sd/- |
Sd/- |
|
Krishan Khadaria |
Mohit Khadaria |
|
Director |
Managing Director |
|
DIN: 00219096 |
DIN: 05142395 |
| Registered Office: |
|
|
| 401/A, Pearl Arcade, Opp. P. K. Jewellers, |
|
|
| Dawood Baug Lane, Off J. P. Road, |
|
|
| Andheri (West), Mumbai - 400 058 |
|
|
| Place: Mumbai |
|
|
| Dated: 01st September, 2023 |
|
|
+91-9892691696
