Dear Members,
Board of Directors hereby present the 31st Annual Report on the business and
operations of Yogi Limited (Formerly known as Parsharti Investment Limited)
together with the Audited Statements of Accounts for the financial year ended 31st
March, 2023.
1. FINANCIAL HIGHLIGHTS:
The financial statements of the Company have been prepared in accordance with the
Indian Accounting Standards ("Ind AS") notified under Section 133 of the
Companies Act, 2013 ("Act") read with the Companies (Accounts) Rules, 2014.
The financial performance of the Company, for the Financial Year ended on 31st
March, 2023 is summarized below:
(Amount in Lakhs)
| Particulars |
Year ended 31.03.2023 |
Year ended 31.03.2022 |
| Revenue From Operations |
- |
114.07 |
| Other Income |
18.01 |
1.65 |
| Total Income |
18.01 |
115.72 |
| Profit before Interest, Depreciation and tax(EBIDTA) |
(40.25) |
13.82 |
| Less: Depreciation |
- |
- |
| Taxation |
|
|
| - Current Tax |
- |
0.15 |
|
|
(0.74) |
| - Previous Tax |
- |
|
| - Deferred Tax Asset |
10.04 |
7.64 |
| - MAT Credit Entitlement |
- |
7.00 |
| Profit After Tax |
(30.21) |
(0.23) |
| Other Comprehensive Income (net of tax) |
- |
(0.14) |
| Total Comprehensive Income for the year |
(30.21) |
(0.37) |
2. DIVIDEND
Since the company has incurred loss during the year, the Board does not recommend
declaration of any dividend for the FY 2022-23.
3. PERFORMANCE REVIEW
During the year under review, total income of the company has decreased to Rs. 18.01
lakhs against Rs. 115.72 lakhs in the previous year. The company has incurred losses of
Rs. 30.21 lakhs as against loss Rs. 0.37 lakhs in the previous year.
4. TRANSFER TO RESERVE
The Company has not transferred amount to reserves during the Financial Year 2022-23.
5. DEPOSITS
The Company has neither accepted nor renewed any deposits during the year within the
meaning of Section 73(1) of the Companies Act, 2013, and the rules made thereunder.
6. CHANGE IN NATURE OF BUSINESS
During the year under review, our company has change the main business activity in the
Extra Ordinary general meeting of the company held on 10th June, 2022.
7. DETAILS OF SUBSIDIARY, JOINT VENTURE AND ASSOCIATE COMPANIES
The Company has no subsidiary, Joint Venture and Associate companies.
No company has become or ceased to be the Companys subsidiaries, joint ventures or
associate companies during the year under review.
8. RAISING OF FUNDS BY ISSUANCE OF CONVERTIBLE WARRANTS ON PREFERENTIAL BASIS
AND CORRESPONDING CHANGE IN SHARE CAPITAL:
Pursuant to the shareholders approval received at Extra-ordinary General Meeting held
on 10th June, 2022 your Company has issued 1,00,00,013 convertible warrants on
preferential basis convertible into 1,00,00,013 equity shares of the company of the face
value of Rs.10/- each, at a price of Rs. 25/- each (at a premium of Rs. 15/-) to below
promoter and non-promoters, for cash consideration, by way of a preferential issue on a
private placement basis in terms of provisions of Section 42, 62 and such other applicable
provisions of the Act read with the rules made thereunder and Chapter V of the Securities
Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The company has also increased the authorized share capital from Rs. 5 crore to Rs. 15
crore.
| Sr No. Name of the allottee(s) |
No. of Equity shares allotted pursuant to conversion of warrants |
Date of allotment |
| 1 Mrs. Sanju Kumar Ranka |
4,00,000 |
07.09.2022 |
| 2 Mr. RajendraKumar Ranka |
4,00,000 |
07.09.2022 |
| 3 Mr. Paresh Nanjibhai Patel |
30,36,043 |
24.03.2023 |
| 4 Mr. Jitendrakumar P Ranka Mrs. Manjulata |
5,37,500 |
24.03.2023 |
| 5 RajendraKumar Ranka |
5,30,000 |
24.03.2023 |
9. SHARE CAPITAL
The details of Share capital of the Company is as under:
| Particulars |
As at 31st March, 2023 |
As at 31st March, 2022 |
|
Number of Shares |
Amount |
Number of Shares |
Amount |
| Authorised Capital: |
|
|
|
|
| Equity Shares of Rs 10/- each |
1,50,00,000 |
15,00,00,000 |
50,00,000 |
5,00,00,000 |
| Issued, Subscribed & Paid- Up Capital: |
82,60,843 |
8,26,08,430 |
33,57,300 |
3,35,73,000 |
| Equity Shares of Rs 10/- each |
|
|
|
|
The Company has neither issued any shares with differential rights as to dividend,
voting or otherwise nor issued any sweat equity shares during the year under review.
10. DIRECTORS AND KEY MANAGERIAL PERSONNEL
In accordance with the applicable provisions of Section 152 of the Act and the Articles
of Association of the Company Mr. Parth Shashikant Kakadiya, (DIN – 09545820),
Director of the company retires by rotation at the forthcoming Annual General Meeting and
being eligible, offer himself for the re-appointment.
There has been no change in the constitution of Board during the year under review i.e.
the structure of the Board remains the same.
11. MATERIAL CHANGES AND COMMITMENTS
No material changes and commitments affecting the financial position of the Company
occurred between the end of the financial year of the Company i.e. 31st March, 2023 to
which these financial statements relates and the date of this report.
However, the company has increased its authorized share capital from Rs. 15 crore to
Rs. 25 crore and issued 30,00,000 equity share to the investors on preferential basis in
the Extra Ordinary General meeting held on 19th July, 2023.
12. DECLARATION BY AN INDEPENDENT DIRECTOR(S)
In accordance with the provisions of Section 149(7) of the Act, Mr. Sachin Shivaji Wagh
and Mrs. Kinjal Bhavin Gandhi Independent Directors of the Company as on 31st
March, 2023 have given their declarations to the Board that they meet the criteria of
independence as laid down under Section 149(6) of the Act,
Regulation 16(1)(b) and Regulation 25 of the SEBI Listing Regulations and are qualified
to be Independent Directors pursuant to Rule 5 of the Companies (Appointment and
Qualification of Directors) Rules, 2014.
The Independent Directors are in compliance with the Code of Conduct prescribed under
Schedule IV of the Act.
Further, the Independent Directors have confirmed that they have included their names
in the Independent Directors data bank maintained by the Indian Institute of Corporate
Affairs in terms of Section 150 of the Act read with Rule 6 of Companies (Appointment and
Qualifications of Directors) Rules, 2014.
The Board is of the opinion that both the Independent Directors of the Company possess
requisite qualifications, experience and expertise in the fields of strategy, and
leadership, functional and managerial experience, legal and risk management, corporate
governance systems and practices, finance, banking and accounts and they hold highest
standards of integrity. During the financial year 2022-23 a separate meeting ofIndependentst
March, 2023, without the presence of executive directors or management representatives
and the following matters were discussed:
? the performance of non-Independent directors and the Board as a whole;
? the performance of the Chairman of the Company, taking into account the views of
executive directors and non-executive directors; and
? assess the quality, quantity and timeliness of flow of information between the
Company management and the Board that is necessary for the Board to effectively and
reasonably perform their duties.
13. ANNUAL EVALUATION OF BOARD, COMMITTEES AND INDIVIDUAL DIRECTORS
The annual evaluation process of the Board of Directors, individual Directors and
Committees was conducted in accordance with the provision of the Act and the SEBI Listing
Regulations.
The Board evaluated its performance after seeking inputs from all the directors on the
basis of criteria such as the Board composition and structure, effectiveness of board
processes, information and functioning, etc.
The performance of the Committees was evaluated by the Board after seeking inputs from
the committee members on the basis of criteria such as the composition of committees,
effectiveness of committee meetings, etc. The above criteria are as provided in the
Guidance Note on Board Evaluation issued by the Securities and Exchange Board of India.
The evaluation was done in accordance with the framework and criteria laid down by the
NRC. Further, at a separate meeting, the Independent Directors evaluated performance of
Non-Independent Directors, Board as a whole and of the Chairman of the Board.
14. AUDITORS: i) Statutory Auditors and Audit Report
Pursuant to the provisions of Section 139 of the Act, M/s. B.K.G & Associates,
Chartered Accountants (ICAI Firm Registration No. 114852W) were appointed as the Statutory
Auditors of the Company, as per their appointment at the 30th AGM of the Company held on
30th September, 2022, for a period of 5 (five) years.
The requirement of seeking ratification of members for continuing the appointment of
Statutory Auditors at every AGM was withdrawn by the Companies (Amendment) Act, 2017
w.e.f. 07th May, 2018.
M/s. B.K.G & Associates, Chartered Accountants have confirmed that they are
eligible and are in compliance with the provisions specified under Section 141(3)(g) of
the Act and they are not disqualified to act as Statutory Auditors in terms of the
provisions of Sections 139 and 141 of the Act and the Companies (Audit and Auditors)
Rules, 2014. The Report of the Statutory Auditor forming part of the Annual Report, does
not contain any qualification, reservation, adverse remark or disclaimer. The observations
made in the Auditors Report are self-explanatory and therefore do not call for any
further comments.
ii) Cost Auditors:
The Company is not required to keep cost records or appoint cost auditors.
iii) Secretarial Auditors and Secretarial Audit Report:
Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, the Board had appointed M/s. Nishant
Bajaj & Associates, a firm of Company Secretaries in Practice, to undertake the
Secretarial Audit of the Company for the financial year ended 31st March, 2023. The
Secretarial Audit Report for the financial year ended 31st March, 2023 is enclosed to this
report as "Annexure A".
The Secretarial Audit Report is self-explanatory and thus does not require any further
comments. The Secretarial Audit Report does not contain any qualification, reservation,
adverse remark or disclaimer. The Company is in compliance with the Secretarial Standards
issued by the Institute of Company Secretaries of India.
iv) Internal Auditor
The Board, upon the recommendation of the Audit Committee, has re-appointed M/s. Mohan
L Gupta & Associates, as the Internal Auditor of the Company for financial year
2023-2024.
15. MANAGEMENT DISCUSSION & ANALYSIS REPORT
The Management Discussion and Analysis of financial Company for the year under review
as required under Regulation 34(2)(e) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, is provided as a "Annexure B".
16. ANNUAL RETURN
Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, a copy of the Annual
Return as on 31st March, 2023 is available on the Companys website
www.yogiltd.com
17. PARTICULARS OF LOANS, GUARANTEES, INVESTMENTS AND SECURITIES:
Details of Loans, Guarantees and Investments covered under the provisions of Section
186 of the Act are given in the notes to the Financial Statement.
18. RELATED PARTY TRANSACTIONS
In accordance with the relevant provisions of the Act and rules framed thereunder and
Regulation 23 of the SEBI Listing Regulations, the Company has in place a Related Party
Transaction ("RPT") Policy. All related party transactions ("RPT")
entered into during the financial year 2022-23 were in accordance with the Companys RPT
Policy and on an arms length basis and in the ordinary course of business. All RPTs are
placed before the Audit Committee and the Board for approvals.
19. BOARD MEETING
During the year under review, the Board met Ten (10) times on 25th April,
2022, 27th May, 2022, 18th June, 2022, 21st June, 2022,
05th August, 2022, 30th August, 2022, 07th September,
2022, 09th November, 2022, 01st February, 2023, 24th
March, 2023, in accordance with the provisions of the Companies Act, 2013 and rules made
thereunder. There have not been any instances during the year when recommendations of the
Audit Committee were not accepted by the Board.
20. DIRECTORS RESPONSIBILITY STATEMENT
Based on the framework of internal financial controls and compliance systems
established and maintained by the Company, work performed by the internal, statutory and
secretarial auditors including audit of internal financial controls over financial
reporting by the statutory auditors and the reviews performed by
Management and the relevant Board Committees, including the Audit Committee, the Board
is of the opinion that the Companys internal financial controls were adequate and
effective during the financial year 2022-23.
Accordingly, pursuant to Section 134(3)(c) and 134(5) of the Companies Act, 2013, the
Board of Directors, to the best of their knowledge and ability, confirm that-
i. in the preparation of the annual accounts, the applicable accounting standards have
been followed and that there are no material departures;
ii. they have selected such accounting policies and applied them consistently and made
judgments and estimates that were 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
of the Company for the year;
iii. they have taken proper and sufficient care for the maintenance of adequate in
accordance with the provisions of the Act, for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities;
iv. they have prepared the annual accounts on a going concern basis;
v. they have laid down internal financial controls to be followed by the Company and
that such internal financial controls are adequate and are operating effectively;
vi. they have devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems are adequate and operating effectively
21. CORPORATE GOVERNANCE
In view of the provisions of Regulation 15(2) of the Securities and Exchange Board of
India (Listing Obligation and Disclosure Requirements), Regulations 2015, the provisions
related to Corporate Governance as specified in Regulations 17 to 27 and clauses (b) to
(i) and (t) of sub regulation (2) of Regulation 46 and para C, D and E of Schedule V are
not applicable to the Company, hence the same is not given in the Report. However, the
Company continues to adhere the best practices prevailing in Corporate Governance and
follows the same in its true spirit.
22. LISTING ON STOCK EXCHANGE
The Company shares are listed on the BSE Ltd and the Company has paid the listing fees
for the Financial Year 2022-23. The shares of the Company are traded at The BSE Ltd having
Nation-wide terminals.
23. VIGIL MECHANISM/ WHISTLE BLOWER POLICY
Your Company has in place a vigil mechanism for directors and employees to report
concerns about unethical behaviour, actual or suspected fraud or violation of your
Companys Code of Conduct.
Under the vigil mechanism of the Company, which also incorporates a Whistle Blower
Policy in terms of Regulation 22 of the SEBI Listing Regulations, protected disclosures
can be made by a whistle blower through an e-mail, or dedicated telephone line or a letter
to the Chairman of the Audit Committee. Adequate safeguards are provided against
victimization to those who avail of the vigil mechanism.
The Whistle Blower Policy is available on the Companys website at the www.yogiltd.com
24. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
ETC.
The Board has nothing to report under this. However, the company is taking adequate
steps to see that the energy used by the company is the minimum under the given
circumstance. The Board has nothing to report under the head technology absorption.
During the year, the total foreign exchange used was NIL (previous year Nil) and the
total foreign exchange earned was NIL (previous year Nil).
25. DETAILS OF UTILISATION OF FUNDS RAISED THROUGH PREFERENTIAL ALLOTMENT
During the year under review, the Company allotted 49,03,543 equity shares pursuant to
conversion of convertible warrants to Promoter & Non-Promoter Individual on
preferential basis at a price of Rs. 25 per equity share, amounting to Rs. 12,25,88,575
(Rupees Twelve Crores Twenty Five Lakhs Eighty Eight Thousand Five Seventy Five Only). The
said issue of convertible warrants on preferential basis was approved by the shareholders
of the Company in the Extra Ordinary General Meeting held on 10th June, 2022.
The funds were utilised by the Company for the purpose of strengthening the financial
position, to meet working capital requirements and to augment the financial resources of
the company or such other objects, as the
Board may from time to time decide in the best interest of the Company
26. INTERNAL FINANCIAL CONTROL SYSTEMS AND ADEQUACY
The internal financial controls with reference to the Financial Statements are
commensurate with the size and nature of business of the Company. During the year, such
control was tested and no reportable material weakness in the design or operation was
observed.
27. PARTICULARS OF EMPLOYEES AND MANAGERIAL REMUNERATION
Disclosures pertaining to remuneration and other details as required under Section
197(12) of the Companies Act, 2013, read with Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 are provided in the Annual Report and is
marked as "Annexure C" to this Report.
28. DISCLOSURE WITH RESPECT TO DEMAT SUSPENSE ACCOUNT/ UNCLAIMED SUSPENSE ACCOUNT
The Company does not have any of its securities lying in demat/unclaimed suspense
account arising out of public/bonus/right issues as at 31st March, 2023. Hence, the
particulars relating to aggregate number of shareholders and the outstanding securities in
suspense account and other related matters does not arise.
29. DISCLOSURES AUDIT COMMITTEE
The Audit Committee comprises of Three Directors viz. Mrs. Kinjal Bhavin Gandhi, Mr.
Sachin Shivaji Wagh and Mr. Ghanshyambhai Nanjibhai Patel. The constitution of the Audit
Committee meets the requirements of Section 177 of the Act and Regulation 18 of the
Listing Regulations, 2015.
The Terms of Reference, Composition and Meetings and Attendance is as below: i.
Terms of Reference/ Policy:
The terms of reference of the Audit Committee are in conformity with Section 177 of the
Act and Regulation 18 of the Listing Regulations, 2015. The brief terms of reference inter
alia are as follows
? Oversight of Companys financial reporting process and the disclosure of its
financial information to ensure that the financial statement is correct, sufficient and
credible.
? Recommend to the Board, the appointment, reappointment, remuneration and terms of
appointment of auditors of the Company and, if required, their replacement or removal.
? Approve payment to statutory auditors for any other services rendered by them.
? Review, with the management, the quarterly and annual financial statements and
auditors report thereon before submission to the Board for approval. qualifications, ?
ApproveappointmentofChiefFinancialOfficer background, etc. of the candidate.
? Review and monitor the auditors independence, performance and effectiveness of audit
process.
? Review the adequacy of internal audit function, including the structure of the
internal audit department, if any, staffing and seniority of the official heading the
department, reporting structure coverage and frequency of internal audit, etc. ii.
Meetings and Attendance:
During the Financial Year 2022-23, 8 (Eight) Meetings were held on 25th
April 2022, 27th May 2022, 21st July 2022, 05th August
2022, 30th August 2022, 07th September, 2022, 09th
November 2022 and 01st February 2023
| Sr No. Particulars |
Designation |
Category |
No. of Meeting attended |
| 1 Mr. Sachin Shivaji Wagh |
Chairman |
Non-Executive |
8 |
|
|
Independent Director |
|
| 2 Mrs. Kinjal Bhavin Gandhi |
Member |
Non-Executive |
8 |
| 3 Mr. Ghanshyambhai Nanjibhai Patel |
Member |
Independent Director |
|
|
|
Managing Director |
8 |
| 4 *Mr. Parth Shashikantbhai Kakadiya |
Member |
Non-Executive Director |
7 |
* During the year under review Mr. Parth Shashikantbhai Kakadiya resigned from the
committee w.e.f.
01st February, 2023
NOMINATION AND REMUNERATION COMMITTEE
The Nomination and Remuneration Committee comprises of three Non- Executive Directors,
viz. Mrs. Kinjal Bhavin Gandhi, Mr. Sachin Shivaji Wagh and Mr. Parth Shashikantbhai
Kakadiya. The constitution of the Committee meets the requirements of Section 178 of the
Act and Regulation 19 of the Listing Regulations, 2015.
i. Terms of Reference/Policy:
The terms of reference of the Nomination and Remuneration Committee are in conformity
with Section 178 of the Act and Regulation 19 of the Listing Regulations, 2015. The terms
of reference are as follows:
? The Company has framed a policy as per Section 178 of the Companies Act, 2013 for
selection and appointment of Directors, Senior Management and their remuneration same is
posted on the website of the company.
? Determine the compensation package of the Executive Directors, Secretary and other
senior management personnel.
? Formulate the criteria for determining qualifications, positive attributes and
independence of a Director and recommend to the Board a policy relating to the
remuneration of the Directors, Key Managerial Personnel and other employees.
? Formulate the criteria for evaluation of performance of Independent Directors and the
Board of Directors.
? Devise a policy on diversity of Board of Directors.
? Identify 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.
? Decide on whether to extend or continue the term of appointment of the Independent
Directors, on the basis of the performance evaluation report of Independent Directors. ii.
Meetings and Attendance:
During the Financial Year 2022-23, 3 (Three) Meetings were held on 25th
April 2022, 30th August, 2022 and 01st February, 2023.
| Sr No. Particulars |
Designation |
Category |
No. of Meeting attended |
| 1 Mr. Sachin Shivaji Wagh |
Chairman |
Non-Executive |
3 |
|
|
Independent Director |
|
| 2 Mrs. Kinjal Bhavin Gandhi |
Member |
Non-Executive |
3 |
|
|
Independent Director |
|
| 3 Mr. Parth Shashikantbhai Kakadiya |
Member |
Non-Executive Director |
3 |
STAKEHOLDERS RELATIONSHIP COMMITTEE
The Stakeholders Relationship Committee comprises of Four Directors viz Mrs. Kinjal
Bhavin Gandhi, Mr. Sachin Shivaji Wagh, Mr. Ghanshyambhai Nanjibhai Patel and Mr. Parth
Shashikantbhai
Kakadiya. Ms. Riddhi Dilip Sidhpura, Company Secretary is designated as the Compliance
Officer of the Company. The constitution of the Stakeholders Relationship Committee meets
the requirements of Section 178 of the Act and Regulation 20 of the Listing Regulations,
2015.
i. TERMS OF REFERENCE
The Committee inter alia oversees the redressal of Member and investor complaints /
requests for transmission of shares, sub-division and consolidation of share certificates,
issue of duplicate share certificates, requests for dematerialization and
rematerialization of shares, non-receipt of declared dividend and non-receipt of Annual
Report. It also recommends measures for improvement in investor services. The Committee
also keeps a close watch on the performance of Link Intime India Private Limited, the
Registrar & Share Transfer Agents (RTA) of the Company. The Committee also reviews
various measures and initiatives taken by the Company for reducing the quantum of
unclaimed dividends and ensuring timely receipt of dividend warrants/ annual reports /
statutory notices by the Members of the Company. The Committee meets as often as is
necessary for resolution of important matters within its mandate. ii. Meetings and
Attendance:
During the Financial Year 2022-23, 4 (Four) Meetings were held on 27th May
2022, 05th August, 2022, 09th November, 2022 and 01st
February, 2023
| Sr No. Particulars |
Designation |
Category |
No. of Meeting attended |
| 1 Mr. Sachin Shivaji Wagh |
Chairman |
Non-Executive |
4 |
|
|
Independent Director |
|
| 2 Mrs. Kinjal Bhavin Gandhi |
Member |
Non-Executive |
4 |
|
|
Independent Director |
|
| 3 Mr. Ghanshyambhai Nanjibhai Patel |
Member |
Managing Director |
4 |
| 4 Mr. Parth Shashikantbhai Kakadiya |
Member |
Non-Executive Director |
4 |
CORPORATE SOCIAL RESPONSIBILITY
During the FY 2022-23, Corporate Social Responsibility is not applicable to the
company.
SEXUAL HARASSMENT POLICY
As required under the Sexual Harassment of Women at Workplace (Prevention, Prohibition
and Redressal) Act, 2013 and Rules framed thereunder, the Company has implemented a policy
on prevention, prohibition and redressal of sexual harassment at workplace. This has been
widely communicated internally. Your Company has constituted ‘Internal Complaints
Committee to redress complaints relating to sexual harassment at its workplaces. The
Company has not received any complaints relating to sexual harassment during financial
year 2022-23.
CODE OF CONDUCT
Your Company has established a Code of Conduct and Code of Fair Disclosures for
Prohibition of Insider Trading ("Code of Conduct" or "Code") which is
applicable to the Employees, Directors, designated persons, immediate relatives of
designated persons and connected persons of the Company. The Code lays down the standard
of conduct, which is expected to be followed by the Directors and employees in their
business dealings, and in particular, on matters relating to integrity in the work place,
dealing with stakeholders and in business practices. All the Board Members and the Senior
Management employees have confirmed compliance with the Code. The Code is available on
website of the Company.
30. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
There are no significant material orders passed concern status and Companys operations
in future.
31. COMPLIANCE OF ACCOUNTING STANDARDS:
As per requirements of the SEBI Listing Regulations and applicable Accounting
Standards, your Company has made proper disclosures in the Financial Statements. The
applicable Accounting Standards have been duly adopted pursuant to the provisions of
Sections 129 and 133 of the Act.
32. COMPLIANCE OF SECRETARIAL STANDARDS
The Company has complied with all applicable mandatory Secretarial Standards issued by
the Institute of Company Secretaries of India.
33. DETAILS OF APPLICATION MADE OR PROCEEDING PENDING UNDER INSOLVENCY AND BANKRUPTCY
CODE, 2016
During the year under review, there were no application made or proceedings pending in
the name of the company under the Insolvency and Bankruptcy Code, 2016.
34. DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT IN ONE TIME SETTLEMENT AND VALUATION
WHILE AVAILING LOAN FROM BANKS AND FINANCIAL INSTITUTIONS
During the year under review, there has been no one time settlement of Loans
taken from Banks and Financial Institutions.
35. APPRECIATION
Your Directors take this opportunity to convey their deep sense of gratitude for
valuable assistance and Cooperation extended to the Company by all valued customers and
bankers of the Company.
Your Directors also wish to place on record their sincere appreciation for the valued
contribution, unstinted efforts by the employees at all levels which contributed, in no
small measure, to the progress and the high performance of the Company during the year
under review.
| Date : 09 th August, 2023 |
By Order the Board of Directors, |
| Place : Mumbai |
Sd/- |
| Registered Office: |
Riddhi Dilip Sidhpura |
| Yogi Limited |
Company Secretary & Compliance officer |
+91-9892691696
