To,
The Members,
Eiko LifeSciences Limited
(Formerly known as Narendra Investments (Delhi) Limited)
604, Centrum, Opp. TMC Office, Near Satkar Grande Hotel, Wagle Estate Thane 400604
Your directors have pleasure in presenting the 46th Annual Report together
with the audited statement of accounts for the year ended 31st March 2023.
1. FINANCIAL RESULTS
| Particulars |
Audited |
|
|
202223 |
202122 |
| Profit before Interest, Depreciation and Tax |
180.93 |
196.87 |
| Finance Cost |
15.03 |
46.42 |
| Depreciation and Amortization |
63.28 |
56.24 |
| Profit/(Loss) Before Tax |
102.62 |
94.20 |
| Provision for taxation |
25.74 |
23.63 |
| Profit/(Loss) After Tax |
76.88 |
70.57 |
| Other Comprehensive Income |
2.40 |
(1.64) |
| Total Comprehensive Profit for year |
79.28 |
68.94 |
| Earnings per Share (Basic & Diluted) |
0.92 |
0.90 |
2. OPERATIONS:
The total revenue of the Company for the financial year ended 31st March
2023 has been 19,17,61,877/
The EBIDTA from normal operation for financial year 202223 was 1,80,93,040/ as compared
to 1,96,86,721/ in the previous year. However, Total Comprehensive Profit for year ended
31st March 2023 has been increased by 15% to 79,27,810/ as against
68,93,525/ for the previous year.
3. DIVIDEND:
In view of the fact that, the Company is considering business expansion in the field of
Speciality and fine Chemical in the near future, the Company shall retain earnings for
funding further growth. The Company is also desirous to exploit the opportunities to
undertake suitable projects. Therefore, the Board of Directors (hereinafter referred to as
"the Board") has decided not to declare any dividend for the financial year
under review.
4. CHANGES IN SHARE CAPITAL:
The paidup share capital of your Company as on 31st March 2023 was
8,31,62,670/ (Rupees Eight Crore ThirtyOne Lakh SixtyTwo Thousand Six Hundred and Seventy
only). During the year under review the company has not made any fresh issue of shares.
However, post review period, In accordance with (i) the Letter of Offer dated July 07,
2023, and (ii) the Basis of Allotment finalised in consultation with the Registrar to the
Issue and BSE Limited, (the Designated Stock Exchange for the Rights issue), the Rights
Issue Committee of the Board of Directors of the Company has, at in its meeting held on
August 02, 2023, approved the allotment of 55,44,156 partly paidup
Equity Shares of face value of 10/ each on a rights basis, at an issue price of 45 per
Equity Share (including premium of 35 per Equity Share) to the eligible applicants. The
amount of 13.50 per Rights Equity Share (including premium of 10.50) paid on
Application. Balance to be paid in not more than two calls as determined by our Board
at its sole discretion from time to time.
5. TRANSFER OF UNPAID/ UNCLAIMED DIVIDEND: The Company does not have any amount of
Unpaid/Unclaimed Dividend which is required to be transferred to the Investors Education
& Protection fund as required under Section of the Companies Act 2013. There is no
other statutory amount like outstanding unpaid Refund Amount on Share Applications, unpaid
interests or principal of Deposits and Debentures, etc. lying with the company which are
required to be transferred to Investors Education and Protection Fund.
6. TRANSFER TO RESERVES:
The Board of Directors have not appropriated and transferred any amount to any reserve
and the Board has decided to retain the entire amount in the profit and loss account.
7. DEPOSITS:
The Company has not accepted or renewed any amount falling within the purview of
provisions of
Section 73 of the Companies Act 2013 ("the Act") read with the Companies
(Acceptance of Deposit) Rules, 2014 during the year under review. Hence, the requirement
for furnishing of details relating to deposits covered under Chapter V of the Act or the
details of deposits which are not in compliance with the Chapter V of the Act is not
applicable.
8. LOANS FROM DIRECTORS
During the financial year under review, the Company has borrowed the following
amount(s) from Directors and the respective director has given a declaration in writing to
the Company to the effect that the amount is not being given out of funds acquired by him
by borrowing or accepting loans or deposits from others.
9. COMPLIANCE WITH THE LISTING AGREEMENT:
Companys shares are listed on BSE Ltd. w.e.f. 13th December 2016 and
Company has complied with the mandatory provisions of Corporate Governance as stipulated
in the Listing Agreement with the Stock Exchange.
10. REPORT ON PERFORMANCE OF SUBSIDIARIES,
ASSOCIATES AND JOINT VENTURE COMPANIES: During the year under review, your Company did
not have any subsidiary, associate, and joint venture.
11. SIGNIFICANT OR MATERIAL ORDER PASSED BY
REGULATORS/ COURTS:
During the year under review, there were no significant or material orders passed by
the regulators or court or tribunals impacting the going concern status and Company
Operations in future.
12. MATERIAL CHANGES AND COMMITMENT AFFECTING
FINANCIAL POSITION OF THE COMPANY:
There are no material changes and commitments, affecting financial position of the
Company which has occurred between the end of the financial year of the Company i.e.,
March 31, 2023, and the date of the director report.
13. CORPORATE GOVERNANCE:
As per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the
Corporate
Governance Report with the Auditors Certificate thereon are attached and form part of
this Report.
14. MANAGEMENT DISCUSSION AND ANALYSIS:
Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, the Management Discussion and Analysis is attached hereto and forms part of this
Report.
15. RELATED PARTY TRANSACTION:
Your Company has historically adopted the practice of undertaking related party
transactions only in the ordinary and normal course of business and at arms length as
part of its philosophy of adhering to highest ethical standards, transparency, and
accountability. All related party transactions that were entered with your Company, during
the financial year were on arms length basis and were in the ordinary course of the
business. In terms of the Act, there were no materially significant related party
transactions entered into by your Company with its Promoters, Directors and Key Managerial
Personnel, or other designated persons, which may have a potential conflict with the
interest of your Company at large, except as stated in the Financial Statements. Hence,
the disclosure of related party transactions as required under Section 134(3)(h) of the
Companies Act, 2013 in Form AOC 2 is not applicable to your Company.
As per the policy on Related Party Transactions as approved by the Board of Directors,
your Company has entered into related party transactions based upon the omnibus approval
granted by the Audit
Committee of your Company. On quarterly basis, the Audit Committee reviews such
transactions, for which such omnibus approval was given. The policy on Related Party
Transactions was revised in view of amendments in applicable rules.
The policy on Related Party Transactions as amended and approved by the Board of
Directors, is accessible on your Companys website at www.eikolifesciences.com
16. DISCLOSURE OF INFORMATION AS REQUIRED UNDER
SECTION 134 (3)(M) OF THE COMPANIES ACT, 2013 (ACT) READ WITH THE COMPANIES (ACCOUNTS)
RULES, 2014: The information on conservation of energy, technology absorption and foreign
exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies Act, 2013
read with Rule 8 of The Companies (Accounts) Rules,2014, is annexed hereto and marked as
Annexure "A".
17. ANNUAL RETURN
Pursuant to Section 134(3)(a) of the Act read with Section 92(3) of the Act and Rule 12
of the Companies (Management and Administration) Rules, 2014,
Annual Return is published on the Companys website at www.eikolifesciences.com. The
final Annual Return shall be uploaded in the same web link after the said Return is filed
with the Registrar of Companies, Mumbai within the statutory timelines.
18. AUDITORS & REPORTS: a. Statutory Auditors:
Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the Companies
(Audit and Auditors) Rules, 2014, M/s. Thanawala & Co, Chartered Accountants, the
Statutory Auditors of the Company have been appointed for a term of 5 years and they
continue to be the Statutory Auditors of the Company.
The observations made by the Statutory Auditors in their report for the financial year
ended 31st March 2023 read with the explanatory notes therein are
selfexplanatory and therefore, do not call for any further explanation or comments from
the Board under Section 134(3) of the Companies Act, 2013 b. Secretarial Audit:
The Board on the recommendation of the Audit Committee appointed M/s Shravan A. Gupta
& Associates; Company Secretaries in Practice, Mumbai, as Secretarial Auditor to
conduct Secretarial Audit of the Company for the Financial Year 202223 and report issued
by him in the prescribed form MR3 is annexed hereto and marked as Annexure "B"
The secretarial audit report for FY 202223 does not contain any qualification,
reservation or adverse remark or disclaimer made by the secretarial auditor.
In addition to the above and pursuant to SEBI circular dated February 8, 2019, a report
on secretarial compliance by M/s Shravan A. Gupta & Associates for FY 202223 is being
submitted to stock exchanges. There are no observations, reservations or qualifications in
the said report.
c. Cost Audit:
Pursuant to the provisions of Section 148 of the Companies Act, 2013 read with the
Companies (Cost Records and Audit) Rules, 2014, as amended from time to time, the Company
is not required to maintain Cost Records under said Rules.
d. Internal Auditors of the Company:
The Company has adopted an internal control system, commensurate with its size. The
Company had appointed M/s NP Rajput & Co. chartered accountant as the Internal Auditor
of the Company for Financial Year 202223.
There are no adverse remarks by Internal Auditor in the report issued by them for the
financial Year end 31st March 2023.
e. Reporting of frauds by statutory auditors:
There were no incidences of reporting of frauds by Statutory Auditors of the Company
under Section 143 (12) of the Act read with Companies (Accounts) Rules, 2014.
f. Code for prevention of Insider Trading:
As per Securities and Exchange Board of India (Prohibition of Insider Trading
Regulations), 2015, your Company has adopted an amended Code of Conduct to regulate,
monitor and report trading by Designated Persons and their Immediate Relatives under the
Securities and Exchange Board of India
(Prohibition of Insider Trading) Regulations, 2015. This Code of Conduct also includes
code of practices and procedures for fair disclosure of unpublished price sensitive
information and has been made available on the Companys website.
19. UPDATION OF EMAIL IDS FOR RECEIVING NOTICES /
DOCUMENTS IN ELECTRONIC MODE:
Shareholders who have not registered their email addresses with the Company are
requested to register their email addresses with the Company to enable the Company to
deliver notices /documents through emode. Shareholders holding their shares in demat mode
also have an option to register their email addresses with their depository, through their
depository participant.
20. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY: The Company maintains adequate
internal control systems, which provide, amongst other things, adequate support to all its
operations and effectively handle the demands of the Companys financial management
systems. The Company has in place effective systems safeguarding the assets and interest
of the Company and ensuring compliance with law and regulations. The Companys internal
control systems are supplemented by an extensive program of internal audit conducted by an
external auditor to ensure adequate system of internal control.
21. DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to the provisions of Section 134 (5) of Companies Act, 2013, as amended, with
respect to the
Directors Responsibility Statement, it is hereby confirmed that:
i. In the preparation of the accounts for the financial year ended 31st
March 2023, the applicable Accounting Standards have been followed along with proper
explanation relating to material departures.
ii. The Directors 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 as of 31st March 2023 and of
the profit and loss of the Company for the year ended 31st March 2023.
iii. The Directors have taken proper and enough care for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act for safeguarding
the assets of the Company and for preventing and detecting fraud and other irregularities.
iv. The Directors have prepared the annual accounts for the financial year ended 31st
March 2023 on a going concern basis.
v. 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.
vi. 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.
22. SECRETARIAL STANDARDS OF ICSI:
Your Company is in compliance with the 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 and approved by the Central Government.
23. COMMITTEES OF BOARD OF DIRECTORS OF THE
COMPANY:
Following are the Committees of Board of Directors of the Company. The Composition of
the following Committees are hosted on the website of the Company and details of the
following committees has been mentioned in the Corporate Governance Report.
i. Audit Committee:
The Audit Committee of Directors was constituted as per Regulation 17 of SEBI (LODR)
Regulation 2015. The composition of the Audit Committee and its meetings during the
Financial Year 202223 is in conformity with the provisions said above regulations.
The details of number of meetings held by the Audit committee in the year under review
and other related details are given in the Corporate Governance Report.
During the year under review, Board has accepted all the recommendation made by the
committee
ii. Nomination and Remuneration Committee:
The Nomination and Remuneration Committee was constituted pursuant to the provision of
section 178 of the Act, 2013 and Regulation 19 of SEBI (LODR) Regulation, 2015
The terms of reference of the Committee, inter alia, includes formulation of criteria
for determining qualifications, positive attributes and independence of a director,
recommendation of persons to be appointed to the Board and senior management, devising a
Policy on Board diversity, specifying the manner for effective evaluation of performance
of Board, its Committees, Chairperson and individual directors, recommendation of
remuneration policy for directors, key managerial personnel and other employees,
formulation of criteria for evaluation of performance of independent directors and the
Board, etc. The Committee also reviews the remuneration of the senior management team.
More details on the terms of reference of the Committee are placed on Company website
www.eikolifesciences.com
iii. Stakeholders Relationship Committee:
The Stakeholders Relationship Committee was constituted pursuant to the provisions of
Section 178 of the Act, 2013 and Regulation 20 of SEBI (LODR) Regulation, 2015.
iv. Corporate Social Responsibility:
With the enactment of the Companies Act, 2013 and the Companies (Corporate Social
Responsibility) Rules, 2014 read with various clarifications issued by the Ministry of
Corporate Affairs, every Company having the net worth of 500 crores or more or turnover of
1000 crores or more net profit of 5 crores during any financial year have to spend at
least 2% of the average net profit of the Company made during the three immediately
preceding financial years. Accordingly, the provision of CSR activities under Companies
Act, 2013 do not apply to company.
24. BUSINESS RESPONSIBILITY AND SUSTAINABILITY
REPORT:
The Company was not in the Top 1,000 companies as per Market Capitalisation as on March
31, 2023, at both the Stock Exchanges, where it is listed namely BSE Limited and National
Stock Exchange of India Limited. Accordingly, the Company is not required to submit a
Business Responsibility and Sustainability Report (which replaces the earlier requirement
of a Business Responsibility report) in view of Regulation 34 read with Regulation 3(2) of
the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015
25. BOARD OF DIRECTORS AND KEY MANAGERIAL
PERSONS:
RETIREMENT BY ROTATION:
The Company in total has 6 directors 3 independent directors and 2 nonexecutive,
nonindependent directors and 1 Wholetime Director (WTD).
As per the provisions of Act, at least two thirds of the total number of directors
(excluding independent directors & WTD) shall be liable to retire by rotation. Amongst
the said 2 directors, Mr. Laxmikant Kabra have been longest in office since his last
appointment and he is liable to retire by rotation and being eligible, offer himself for
reappointment.
Your Directors recommend his approval in accordance with the provisions of the Act and
the said Director is not disqualified from being reappointed as a Director of a Company as
per the disclosure received from him pursuant to Section 164(2) of the Act.
Brief details of Mr. Laxmikant Kabra, Director, who is seeking re appointment, are
given in the notice of AGM.
CHANGES IN KMP
There is no change in KMP, however, Mr. Avi Mundecha, Company Secretary and compliance
officer have resigned from the office post review period.
CHANGE IN DESIGNATION:
During the year under review, there was no change in designation of the directors
26. MATTERS RELATED TO DIRECTORS:
i. Independent Directors Declaration:
The independent Directors have submitted a declaration of independence, stating that
they meet the criteria of independence as stipulated under the Act, as amended, and SEBI
Listing Regulations. The independent directors have also confirmed compliance with the
provisions of rule 6 of Companies (Appointment and Qualifications of Directors) Rules,
2014, as amended, relating to inclusion of their name in the databank of independent
directors. Pursuant to the Companies (Appointment and Qualification of Directors) Rules,
2014, the Independent Directors are registered with MCA
Independent Directors Databank.
The Board took on record the declaration and confirmation submitted by the independent
directors regarding them meeting the prescribed criteria of independence, after
undertaking due assessment of the veracity of the same in terms of the requirements of the
SEBI Listing Regulations.
ii. Board Evaluation:
In a separate meeting of Independent Directors, performance of nonindependent
directors, performance of the Board as a whole and performance of the Chairman was
evaluated, taking into account the views of executive director. The same was discussed in
the Board meeting held subsequently to the meeting of the independent directors, at which
Board of Directors carried out an annual evaluation of its own performance, board
committee and individual directors pursuant to the provisions of the Act and the Corporate
Governance requirements as prescribed by Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015. The performance of committee
was evaluated by the board after seeking inputs from all the directors on the basis of the
criteria such as the board composition and structure, effectiveness of board processes,
information and functioning etc.
The Board subsequently evaluated its own performance, the working of its Committees
(Audit, Nomination and Remuneration and Stakeholders Relationship Committee) and
independent Directors (without participation of the relevant Director).
iii. Remuneration Policy:
The Board of Directors has on recommendation of the Nomination & Remuneration
Committee framed policy for selection and appointment of Directors, Senior Management and
their remuneration which is stated in the Corporate Governance Report.
iv. Number Of Board Meetings:
The Board met 8 (Eight) times during the financial year ended 31st March
2023 in accordance with the provisions of the Act, the details of which are given in the
Corporate Governance Report.
27. PARTICULARS OF LOANS, GUARANTEES OR
INVESTMENTS BY THE COMPANY:
Pursuant to the provisions of Section 186 of the Act read with The Companies (Meetings
of Board and its Powers) Rules, 2014, Loans, guarantees and investments has been furnished
in the Notes No. 5 &
6 to Audited financial statement which forms part of the financials of the Company.
28. PARTICULARS OF THE EMPLOYEES:
Pursuant to Section 197(12) of the Companies Act, 2013 and Rule 5(1) of the Companies
(Appointment and Remunerations of Managerial Personnel) Rules, 2014, the relevant details
for financial year 2022 23 are annexed as Annexure "C" to this Report.
It is hereby affirmed that the remuneration paid is as per the Remuneration Policy of
your Company. Further, as per Sec 197(12) of Companies Act, 2013 read with Rule 5(2) and
Rule 5(3) of the aforesaid Rules, the Statement containing names and details of the top
ten employees in terms of remuneration drawn during the financial year 202223 forms part
of this report. This Report is sent to the members excluding the aforesaid Statement. This
Statement is open for inspection at the Registered Office of the Company during working
hours, and any member interested in obtaining such particulars may write to the Company
Secretary at the Registered Office of the Company.
29. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF
WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013: Your Company
strongly believes in providing a safe and harassment free workplace for each and every
individual working for the Company through various interventions and practices. It is the
continuous endeavour of the Management of the Company to create and provide an environment
to all its employees that is free from discrimination and harassment including sexual
harassment. The Company has adopted a policy on prevention, prohibition and redressal of
sexual harassment at workplace in line with the provisions of the Sexual Harassment of
Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules
thereunder. The Company arranged various interactive awareness workshops in this regard
for the employees in the Corporate Office during the financial year.
Following is a summary of sexual harassment complaints received and disposed of during
the year:
No. of complaints received: Nil
No. of complaints disposed: Nil
30. ESTABLISHMENT OF VIGIL MECHANISM:
Pursuant to the provisions of Section 177 (9) of the Act read with Rule 7 of the
Companies (Meetings of Board and its Powers) Rules, 2014, and Regulation 22 of SEBI (LODR)
Regulations 2015, the Company already has in place "Vigil Mechanism Policy"
(Whistle Blower Policy) for Directors and employees of the Company to provide a mechanism
which ensures adequate safeguards to employees and Directors from any financial statements
and reports, etc.
The employees of the Company have the right/option to report their concern/grievance to
the Chairman of the Audit Committee. The Company is committed to adhere to the highest
standards of ethical, moral and legal conduct of business operations. The details of the
same are mentioned in the Corporate Governance Report.
The policy has been hosted on the Companys website www.eikolifesciences.com
31. LEGAL AND REGULATORY:
Compliance with laws and regulations is an essential part of your Companys business
operations. We are subject to laws and regulations in diverse areas as product safety,
product claims, trademarks, copyright, patents, competition, employee health and safety,
the environment, corporate governance, listing and disclosure, employment, and taxes.
Frequent changes in legal and regulatory regime and introduction of newer regulations
with multiple authorities regulating same areas lead to complexity in compliance. We
closely monitor and review our practices to ensure that we remain complaint with relevant
laws and legal obligations.
32. SYSTEM AND INFORMATION:
Your Companys operations are increasingly dependent on IT systems and the management
of information. Increasing digital interactions with customers, suppliers and consumers
place even greater emphasis on the need for secure and reliable IT systems and
infrastructure, and careful management of the information that is in our possession.
The cyberattack threat of unauthorised access and misuse of sensitive information or
disruption to operations continues to increase. To reduce the impact of external
cyberattacks impacting our business we have firewalls and threat monitoring systems in
place, complete with immediate response capabilities to mitigate identified threats. Our
employees are trained to understand these requirements.
33. GENERAL DISCLOSURES:
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:
a. The Company has not issued any shares with differential rights and hence no
information as per provisions of Section 43(a)(ii) of the Act read with Rule 4(4) of the
Companies (Share Capital and Debenture) Rules, 2014 is furnished.
b. The Company has not issued any sweat equity shares during the year under review and
hence no information as per provisions of Section 54(1)(d) of the Act read with Rule 8(13)
of the Companies (Share Capital and Debenture) Rules, 2014 is furnished.
c. The Company has not issued any equity shares under
Employees Stock Option Scheme during the year under review and hence no information as
per provisions of Section 62(1)(b) of the Act read with Rule 12(9) of the Companies (Share
Capital and Debenture) Rules, 2014 is furnished.
d. During the year under review, there were no instances of nonexercising of voting
rights in respect of shares purchased directly by employees under a scheme pursuant to
Section 67(3) of the Act read with Rule 16(4) of Companies (Share Capital and Debentures)
Rules, 2014.
34. CAUTIONARY STATEMENT:
Statements in the Boards Report and the
Management Discussion & Analysis describing the
Companys objectives, expectations or forecasts may be forwardlooking within the
meaning of applicable securities laws and regulations. Actual results may differ
materially from those expressed in the statement. Important factors that could influence
the
Companys operations include global and domestic demand and supply, input costs,
availability, changes in government regulations, tax laws, economic developments within
the country and other factors such as litigation and industrial relations.
35. REPORT ON CORPORATE GOVERNANCE
As required by Regulation 34 of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations), a
detailed Report on Corporate
Governance is included in the Annual Report
36. OTHER STATUTORY DISCLOSURES:
There has been no change in business of the Company.
There was no instance of onetime settlement with any Bank or Financial Institution.
During the year under review, there were no proceeding made nor were any pending under
the Insolvency and Bankruptcy Code, 2016
37. SHARE TRANSFER SYSTEM:
Share transfers and related operations for the
Company are processed by the Companys RTA viz.,
Bigshare Services Private Limited, share transfer is normally affected within the
maximum period of 15 days from the date of receipt, if all the required documentation is
submitted.
Securities and Exchange Board of India (SEBI) vide its notification dated June 8, 2018,
has notified Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) (Fourth Amendment) Regulations, 2018 (Listing Regulations) and SEBI
(Registrars to an Issue and Share Transfer Agents) (Amendment) Regulations 2018 (RTA
Regulations) and amendment to Regulation 40 of the Listing Regulations and Clause 5(c) of
Schedule III of the RTA Regulations. These amendments have mandated that the transfer of
securities would be carried out only in dematerialized form.
Accordingly, attention of all the shareholders holding shares in physical form is
brought to the following:
Request for effecting transfer of securities shall not be processed by the Company or
Bigshare Services Private Limited, Registrar and Share Transfer Agents (RTA) of the
Company, unless the securities are held in dematerialized form with effect from 01 April
2020.
MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE
COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE F.Y. OF THE COMPANY TO WHICH THE
FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:
In accordance with (i) the Letter of Offer dated July 07, 2023, and (ii) the Basis of
Allotment finalised in consultation with the Registrar to the Issue and BSE Limited, (the
Designated Stock Exchange for the Rights issue), the Rights Issue Committee of the Board
of Directors of the Company has, at in its meeting held on August 02, 2023, approved the
allotment of 55,44,156 partly paidup Equity Shares of face value of 10/ each on a rights
basis, at an issue price of 45 per Equity Share (including premium of 35 per Equity Share)
to the eligible applicants. The amount of 13.50 per Rights Equity Share (including premium
of 10.50) paid on
Application. Balance to be paid in not more than two calls as determined by our Board
at its sole discretion from time to time.
ISIN NO:
The Companys Demat International Security
Identification Number (ISIN) for its equity shares in NSDL and CDSL is INE666Q01016.
ACKNOWLEDGEMENT:
Your directors would like to express their deep appreciation to employees at all levels
for their hard work, dedication, and commitment.
The Board also places on record its appreciation and gratitude for the continued
cooperation and support received by your Company during the year from shareholders,
investors, bankers, financial institutions, customers, business partners, all regulatory
and government authorities, and other stakeholders.
For and On Behalf of the Board of Directors |
| Eiko LifeSciences Limited |
|
| Laxmikant Ramprasad Kabra |
|
| Chairman |
Date: 30.08.2023 |
| DIN: 00061346 |
Place: Thane |
+91-9892691696
