Dear Shareholders,
Your Directors have pleasure in presenting the 31st Annual Report together with the audited statement ofAccounts for the year ended 31st March, 2024.
OPERATIONS
The Summarized financial highlights of the Company are as under
Particulars |
For the year ended 31.03.2024 | For the year ended 31.03.2023 | For the year ended 31.03.2022 |
Income from operation |
- | - | - |
Other Income |
- | - | - |
Total Income |
- | - | - |
Total expenditure |
4989638.44 | 10330930 | 4315572.98 |
Operating Profit / (Loss) |
-4989638.44 | -10330930 | -4315572.98 |
Depreciation |
- | - | - |
Provision for taxation |
- | - | - |
Profit / (Loss) after tax |
-4989638.44 | -10330930 | -4315572.98 |
Balance Carrier Forward from Last year |
-18281480.84 | -7950550.84 | (36,34,977.86) |
Reduction of Paid up Capital as per NCLT |
- | - | - |
Balance Carried to Balance Sheet |
(2,32,71,119.28) | -18281480.84 | -7950550.84 |
PERFORMANCE IN THE YEAR UNDER REVIEW
Your Companys Trading businesses have reported an encouraging performance for the year ended 31st March 2024. During the financial year 2023-24, your company wants able to run full trading business at fullest capacity. The Company was issued 71500000 equity shares investors via allotment of conversion of convertible warrants.
DIVIDEND
To strengthen the financial position of the Company and to augment working capital the directors of the company regret to declare any dividend in the financial year under review.
RESERVESAND SURPLUS
The current year loss of Rs 49.89 lakhs has been added to the Surplus at the beginning of the year of Rs. (182.81) lakhs and the Surplus aggregates to Rs. (232.71) lakhs at the end of the year.
FIXED DEPOSITS
The Company has no public deposits as of date and will not accept any deposits without prior approval of the StatutoryAuthorities concerned.
INTERNAL CONTROL SYSTEMSAND THEIRADEQUACY
The Company has in place adequate internal financial controls with reference to financial statements. Such internal financial controls over financial reporting are operating effectively and the Statutory Auditor has also expressed their opinion on the same in the Annexure to the Auditors Report.
WHISTLE BLOWER POLICY:
The Company has a Whistle Blower Policy (the "WB Policy") with a view to provide vigil mechanism to Directors, Employees and other Stakeholders to disclose instances of wrongdoing in the workplace and report instances of unethical behavior, actual or suspected fraud or violation of the Company‘s code of conduct or ethics policy. The WB Policy also states that this mechanism provides for adequate safeguards against victimization of Director(s)/ Employees who avail of the mechanism and also provides for direct access to the Chairman of the Audit Committee in exceptional cases. The WB Policy has been posted on the website of the Company and the details of the same are provided in the ‘Report on Corporate Governance‘forming part of thisAnnual Report.
During the year under review, pursuant to the SEBI (Prohibition of Insider Trading) Amendment Regulations, 2018 (the "Insider Trading Amendment") dated December 31, 2018 (together, the "Insider Trading Regulations"), the said policy got modified to the effect of insertion of leakage of Unpublished Price Sensitive Information (UPSI).
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITIONAND REDRESSAL)ACT, 2013:
The Company has a ‘Prevention of Sexual Harassment Policy‘ in force in compliance with the requirements of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The objective of this Policy is to ensure a safe, secure and congenial work environment where employees deliver their best without any inhibition, threat or fear. The Company has Zero Tolerance to any form of harassment especially if it is sexual in nature. The complaints filed under the Policy are reported to the Audit Committee at its quarterly meetings with details of action taken thereon.
BOARD OF DIRECTORS:
Arpit Ashok Khemani (DIN: 07891404) has offered himself for appointment at the ensuing Annual General Meeting ("AGM"); and all the other the provisions of Section 149 of the Companies Act, 2013, Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been complied with and the information on the particulars of the Directors proposed for appointment has been given in the Notice of theAnnual General Meeting.
Tirth Tapan Mazumdar (DIN: 07891495) has offered himself for appointment at the ensuing Annual General Meeting ("AGM"); and all the other the provisions of Section 149 of the Companies Act, 2013, Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been complied with and the information on the particulars of the Directors proposed for appointment has been given in the Notice of theAnnual General Meeting.
Deepa Kishor Piplikar (DIN: 07941295) has offered herself for appointment at the ensuing Annual General Meeting ("AGM"); and all the other the provisions of Section 149 of the Companies Act, 2013, Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been complied with and the information on the particulars of the Directors proposed for appointment has been given in the Notice of theAnnual General Meeting.
Ms Gauri Bhagat (DIN: 06950001) and Pradeep Kishangopal Mundra (DIN : 06947188) Director retired from Directorship of Company as they Competed Two Tenure as independent Director therefore the board accept her Resignation/retirement with effect from September26, 2024( 31st AGM).
Board andAudit Committee Meetings:
During the FY 2023-24, the following FIVE (5) Board Meetings and Audit Committee Meetings were held on:
? 30TH May 2023
? 11thAugust, 2023
? 9th November 2023
? 6th January 2024
? 14th February 2024
Time gap between any two meetings was not more than one hundred twenty (120) days. The full details of the said meetings are given in the ‘Report on Corporate Governance‘ forming part of this Annual Report.
Appointment criteria and qualifications:
? The Nomination and Remuneration Committee shall identify and ascertain the integrity, qualifications, expertise and Experience of the person for appointment as Director, Key Managerial Personnel ("KMP") or at Senior Management level and recommend the same to the Board for appointment, if found suitable;
? A person should possess adequate qualifications, expertise and experience for the position he/ she is considered for appointment. The Committee has discretion to decide whether qualifications, expertise and experience possessed by a person are sufficient/ satisfactory for the concerned position; and
? The Company shall not appoint or continue the employment of any person as Managing Director/ Whole time Director who has attained the age of seventy years, provided that the term of the person holding this position may be extended beyond the age of seventy years with the approval of shareholders by passing a special resolution based on the explanatory statement annexed to the notice or such motion indicating the justification for extension of appointment beyond seventy years.
Meeting of Independent Directors:
There should be at least one meeting of Independent Directors in a year, without the attendance of non-independent Directors and members of the Management.
The Independent Directors in the meeting:
? Review the performance of non-independent Directors including Managing Director & CEO and the Board as a whole;
? Review the performance of the Chairperson of the Company, taking into account the views of executive Directors and Non-executive Directors; and
? Assess the quality, quantity and timeliness of the flow of information between the Company‘s management and the Board that is necessary for the Board to effectively and reasonably perform its duties.
Policy of DirectorsAppointment and Remuneration
Companys policy on Directors appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under section 178(3) of the Act are covered under Nomination and Remuneration Policy. Further, information about elements of remuneration package of individual directors is provided in the extract ofAnnual Return as provided under Section 92(3) of theAct, in prescribed form MGT-9 annexed with this report and forms part of this Report.
Board Evaluation
(i) Performance Evaluation of the Independent Directors and Other Individual Directors:
The Company has framed a policy for Appointment of Directors and Senior Management and Evaluation of Directors‘ Performance ("Board Evaluation Policy"). The said policy sets out criteria for performance evaluation of Independent Directors, other Non- Executive Directors and the Executive Directors. Pursuant to the provisions of the Act and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), the Board carries out the performance evaluation of all the Directors (including Independent Directors) on the basis of recommendation of the Nomination and Remuneration Committee and the criteria mentioned in the Board Evaluation Policy. The Board decided that the performance evaluation of Directors should be done by the entire Board of Directors excluding the Director being evaluated and unanimously agreed on the following assessment criteria for evaluation of Directors‘performance:
? Attendance and active participation in the Meetings;
? Bringing one‘s own experience to bear on the items for discussion;
? Governance coveringAwareness and Observance; and
? Value addition to the business aspects of the Company.
(ii) Performance Evaluation of Executive Director:
The performance of the Managing Director & CEO is evaluated on the basis of achievement of performance targets/ criteria given to him by the Board from time to time.
(iii) Performance Evaluation by the Board of its own performance and its Committees:
The performance of the Board is evaluated by the Board in the overall context of understanding by the Board of the Company‘s principle and values, philosophy and mission statement, strategic and business plans and demonstrating this through its action on important matters, the effectiveness of the Board and the respective Committees in providing guidance to the management of the Company and keeping them informed, open communication, the constructive participation of members and prompt decision making, level of attendance in the Board meetings, constructive participation in the discussion on the Agenda items, monitoring cash flow, profitability, income & expenses, productivity & other financial indicators, so as to ensure that the Company achieves its planned results, effective discharge of the functions and roles of the Board etc. The performance of the Committees is evaluated by the members of the respective Committees on the basis of the Committee effectively performing the responsibility as outlined in its Charter, Committee meetings held at appropriate frequency, length of the meetings being appropriate, open communication & constructive participation of members and prompt decision-making, etc.
Declaration by Independent Directors
Independent directors of the Company have submitted a declaration that each of them meets the criteria of independence as provided in Sub-Section (6) of Section 149 of the Act. Further, there has been no change in the circumstances which may affect their status as Independent director during the year.
Evaluation of Individual and Independent Director
The performance of the Independent Directors as well as Individual Directors including the Chairman of the Board were evaluated based on the evaluation criteria laid down under the Nomination and Remuneration Policy and the Code of Conduct as laid down by the Board.
The Board and the Nomination and Remuneration Committee reviewed the performance of individual directors on the basis of criteria such as the contribution of the individual director to the board and committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings, etc.
In a separate meeting of independent directors, performance of non-independent directors, of the board as a whole and performance of the Chairman was evaluated, taking into account the views of executive directors and non-executive directors. The same was discussed in the board meeting that followed the meeting of the independent directors, at which the performance of the board, its committees, and individual directors were also discussed. Performance evaluation of independent directors was done by the entire board, excluding the independent director being evaluated.
DIRECTOR’S RESPONSIBILITY STATEMENT
The Board of Directors acknowledges the responsibility for ensuring compliance with the provisions of section 134(3)(c) read with section 134(5) of the Companies Act, 2013 in the preparation of the annual accounts for the year ended on March 31, 2024 and state that :
a. In the preparation of annual accounts for the financial year ended 31stMarch 2024, the applicable accounting standards have been followed;.
b. The Director‘s 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 the financial year and of the profit and loss of the Company for the year under review; c. The Director‘s has taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
d. The Director‘s has prepared the annual accounts for the financial year ended 31st March 2024, on a going concern basis;
e. The Director‘s has laid down internal financial controls to be followed by the Company and such internal financial controls are adequate and were operating effectively and
f. There is proper system to ensure compliance with the provisions of all applicable laws and such systems were adequate and operating effectively.
STATUTORYAUDITORS
M/s. R. K. Malpani & Associates, Chartered Accountants, Mumbai, were the Statutory Auditors of the Company for FY 2023-24. However, the Second Tenure of 5 year tenure of M/s R. K. Malpani & Associates, Chartered Accountants gets over with the conclusion of this annual general meeting and the Board of Directors have approved and recommended M/s Rahul Gupta & Associates, Chartered Accountants, Nagpur (Firm Registration No:- 131447W ) as the Statutory Auditors of the company, for a term of five(5) years commencing from the conclusion of the 31st Annual General Meeting of the Company till the conclusion of the 36th Annual General Meeting to be held in the year 2029.
Your Directors place on record the valuable services rendered by M/s R. K. Malpani & Associates, CharteredAccountants during their tenure as the StatutoryAuditors of the Company.
M/s Rahul Gupta & Associates, Chartered Accountants, have confirmed their independent status and eligibility for the said appointment. The Company has received confirmation from them to the effect that their appointment, if made, will be in accordance with the limits specified under theAct and that the firm satisfies the criteria specified in Section 141 of the Act read with Rule 4 of Companies (Audit &Auditors) Rules,2014.
The Board is of the opinion that appointment of M/s. Rahul Gupta & Associates, Chartered Accountants, as Statutory Auditors will be in the best interests of the Company and recommends to the members to consider their appointment as Statutory Auditors of the Company, for term of five years, from the conclusion of the ensuing AGM, till the AGM to be held in the calendar year 2029, at such remuneration mutually agreed and approved by the Board.
INDEPENDENTAUDITORS REPORT
There is no qualification in the Independent Auditors Report has pointed out. Your directors wish to state that due to cash flow constraints, there are some disqualifications, reservations or adverse remarks or disclaimers inAuditors Report.
SECRETARIALAUDIT
Pursuant provisions of section 204 of the Companies Act 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the company has appointed M/s Rupa Gupta, Practicing Company Secretary in practice to undertake the Secretarial Audit of the Company.
SECRETARIALAUDITORS REPORT
The Company appointed M/s Rupa Gupta, Practicing Company Secretaries as Secretarial Auditors to conduct Secretarial Audit of the Company for the financial year 2023-24. The report of the Secretarial Audit for the financial year 2023-24 in FORM MR-3 is annexed to this report herewith as "Annexure -5" and forms part of this report. There are No disqualifications, reservations or adverse remarks or disclaimers in SecretarialAuditors Report.
COSTAUDIT REPORT
Cost Audit Report for the FY 2023-24 is not mandatory, as a best Corporate Governance practice, Board on the recommendation of theAudit Committee, internal auditors is also conduct work as Cost Auditor of the Company for the FY 2023-24.
AUDIT COMMITTEE
Details of Composition of Audit Committee are covered under Corporate Governance Report annexed with this report and forms part of this report. Further, during this year all the recommendations of theAudit Committee have been accepted by the Board.
ESTABLISHMENT OF VIGIL MECHANISM
The Company has set up vigil mechanism viz. Whistle Blower Policy to enable the employees and Directors to report to the Audit Committee Chairman, genuine concerns, unethical behavior and irregularities, if any, noticed by them in the Company, which could adversely affect company‘s operations. It is posted on the website of the Company. The same is reviewed by the Audit Committee from time to time. No concerns or irregularities have been reported by employees/directors till date. The policy has been uploaded on the Company‘s website www.rajasthangasesltd.com
REPORTING OF FRAUDS
There have been no instances of fraud reported by the Statutory Auditors under Section 143(12) of theAct and Rules framed there under either to the Company or to the Central Government.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGSAND OUTGO
The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the CompaniesAct, 2013 read with Rule 8 (3) of the Companies (Accounts) Rules, 2014 is annexed herewith as "Annexure-1"
SUBSIDIARY,ASSOCIATEAND JOINT VENTURE COMPANIES
There were no other changes in the subsidiary, associate and joint venture companies which were reported earlier as "Annexure-2"
RELATED PARTY TRANSACTIONS
All the contracts/ arrangements/ transactions that were entered into by the Company during the financial year with related parties were on an arm‘s length basis and in the ordinary course of business. During the year, the Company had not entered into any contract/arrangement/ transaction with related parties which could be considered material, requiring approval of the Board/shareholders, in accordance with the policy of the Company on materiality of related party transactions. All Related Party Transactions are placed before the Audit Committee for approval. The policy on Related Party Transactions as approved by the Board is available on the website of the Company. None of the Directors of the Company has any pecuniary relationships or transactions vis-?-vis the Company. The requisite details are given in Form AOC 2 is annexed herewith as "Annexure -3".
EXTRACT OFANNUAL RETURN
The details forming part of the extract of the Annual Return in Form MGT – 9 has been annexed with this report and forms part of this report as "Annexure-4" and the same is available on the Company‘s website.
PARTICULARS OF EMPLOYEES
The information required under section 197 of the Act and rules made there-under with subsequent amendments thereto, in respect of employees of as shown below: a. Employed throughout the year and in receipt of remuneration aggregating to Rs.1,02,00,000 or more - Nil
b. Employed for part of the year and in receipt of remuneration of Rs.8,50,000 or more per month - Nil
Note: Remuneration includes salary and value of perquisites and nature of employment is Contractual.
MANAGERIAL REMUNERATION
Statistical Disclosures pursuant to Rule 5 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (with subsequent amendments thereto) is annexed with this report and forms part of this report as "Annexure-6"
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186 OF THE COMPANIESACT, 2013
Details of loans, guarantees and investments covered under the provisions of Section 186 of the CompaniesAct, 2013 are given in notes to the financial statements.
PREVENTION OF INSIDER TRADING
The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated employees of the Company. The Code requires pre-clearance for dealing in the Company‘s shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company and during the period when the Trading Window is closed. The Board is responsible for implementation of the Code.
All Board Directors and the designated employees have confirmed compliance with the Code.
GREEN INITIATIVE
The Ministry of Corporate Affairs had taken the Green Initiative in Report on Corporate Governance by allowing paperless compliances by Companies through electronic mode. Your Company supports the Green Initiative and has accordingly decided to send necessary communications to its Shareholders to their respective registered E-mail addresses. Your Company appeals its Shareholders, who are yet to register the E-mail addresses that they take necessary steps for registering the same so that you can also become a part of the initiative and contribute towards a Greener environment.
CORPORATE GOVERNANCE
Your company reaffirms its commitment to good corporate governance practices. The company complies with corporate governance requirements specified in regulation 17 to 27 and clauses (b) to (i) of sub-regulation (2) of regulation 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Pursuant to Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Report on Corporate Governance which forms a part of this Report has been annexed herewith as "Annexure-7"
The Managing Director cum Chief Financial Officer have certified to the Board with regard to the financial statements and other matters as required under Regulation 17 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
MANAGEMENT DISCUSSIONANDANALYSIS
The core business of the company is Trading and developers sector. The management discussion and analysis given below discusses the key issues of the Trading and developers sector. The Report on Management Discussion and Analysis which forms a part of this Report has been annexed herewith as "Annexure-8".
SHARE CAPITAL Authorized Capital:
During the year under review, there was no change in theAuthorized share capital of your Company. The Authorized Share Capital of your Company is Rs. 60,00,00,000/- (Rupees Sixty Crore Only) divided into 60000000 (Six Crore Only) Equity Shares of Rs. 10/- (Rupees Ten Only) each. Is repaced by 200000000 (Twenty Crore Only) Equity Shares of Rs. 3/- (Rupees Three Only) each.
Issued, Subscribed & Paid-Up Capital:
? During the year under review, the following change took place in the Issued, Subscribed & Paid-Up Capital of the Company:
1. The Board of Director of your Company in their meeting held on January 06, 2024 have approved issue & allotment of 71500000 (Seven Crore Fifteen Lacs Only) Equity Shares of Rs. 10 (Rupees Ten Only) each fully paid up is replaced by on a preferential basis at an issue price of Rs. 4/- (Rupees Four Only) per Equity Share including Security Premium of Rs. 1 (Rupees One -One only) per Equity Share due convertible warrants (Warrants) at a conversion price of Rs.4 /- per warrant (including Rs. 1/- as security premium) to the proposed allottees under Non Promoter category (Public).
These shares were get listing approval on March 27, 2024 by BSE Limited and trading approval for the shares was received on May 10, 2024.
? The present Paid-up Share Capital of the Company is Rs. 23,06, 21,460/- (Rupees Twenty Three Crore Six Lacs Twenty One Thousand Four Hundred Only) divided into 76873800 (Seven Crore Sixty Eight Lakh Seventy Three Thousand Eight Hundred Only) Equity Shares of Rs.3/- (Rupees Three Only) each.
UTILIZATION OF FUNDS RAISED THROUGH PREFERENTIAL ISSUE OF EQUITY SHARES:
The Company raised funds of Rs. 21, 45,00,000 (Rupees Twenty One Crore Forty Five Lakh Only) through Preferential Issue of Equity Shares. The gross proceeds of preferential issue have been utilized in the following manner:
No |
Original Object |
OriginalAllocation | Funds Utilized till March 31, 2024 |
1 |
Acquisition of Equity Shares |
1650.00 | 1650.00 |
2 |
Repayment of Loan |
500.00 | 495.00 |
| 2150.00 | 2145.00 |
TRANSFER OFAMOUNTS TO INVESTOR EDUCATIONAND PROTECTION FUND
Your Company did not have any funds lying unpaid or unclaimed for a period of Seven years. Therefore there were no funds which were required to be transferred to investor Education and Protection Fund (IEPF).
SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS
No significant or material orders have been passed against the Company by the Regulators, Courts or Tribunals, which impacts the going concern status and company‘s operations in future.
INFORMATION PURSUANT TO SECTION 134(3) OF THE COMPANIESACT, 2013
The information required pursuant to rule 5 (2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 forms a part of this report. However, as per the first proviso to section 136(1) and second proviso of rule 5 (2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the report and the financial statements are being sent to the members of the Company excluding statement of particulars of employees under rule 5 (2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. If any member is interested in obtaining the copy of the said statement may write to the Company Secretary in advance.
? Familiarization Program of the Independent Directors
Periodic presentations are made by Senior Management, Statutory and Internal Auditors at the Board/Committee meetings on business and performance updates of the Company, global business environment, business risks and its mitigation strategy, impact of regulatory changes on strategy etc. Updates on relevant statutory changes encompassing important laws are regularly intimated to the Independent directors.
The Company has no public deposits as of date and will not accept any deposits without prior approval of the StatutoryAuthorities concerned
? Prevention Of Insider Trading
The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated employees of the Company. The Code requires pre-clearance for dealing in the Company‘s shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company and during the period when the Trading Window is closed. The Board is responsible for implementation of the Code.All Board Directors and the designated employees have confirmed compliance with the Code.
? Development in Human Resources / Industrial Relations
The Company recognizes that the Employees are the most valuable resource and endeavors to empower its employees to meet business excellence while meeting their career aspirations. It continues to focus on progressive employee relation, policies and building high performance culture with the growth mindset where employees are engaged, productive and efficient. Industrial relations were cordial throughout the year.
? Cautionary Statement
Management Discussion and Analysis forming part of this Report is in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and such statements may be "forward-looking" within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Companys operations include economic conditions affecting demand / supply and price conditions in the domestic and overseas markets in which the Company operates, changes in the Government regulations, tax laws and other statutes and other incidental factors.
? Adoption On INDAS
These are the Company‘s first Financial Statement prepared in accordance with INDAS. The Company has adopted INDAS as notified by the Ministry of Corporate Affairs w.e.f 1st April, 2017. The adoption of INDAS has been carried out in accordance with INDAS 101, "First Time Adoption of IndianAccounting Standards".
? Annexure to this Report
The following are the annexure to this report:
i. Conservation of energy, technology absorption, Research and development and foreign exchange earnings and outgo inAnnexure -1.
ii. Statement containing salient features of the financial statement of associate company (Form AOC – 1) inAnnexure -2.
iii. FormAOC - 2 inAnnexure - 3. iv. Extract ofAnnual Report (Form MGT-9) inAnnexure - 4. v. SecretarialAudit Report (Form MR-3) inAnnexure -5. vi. Particulars of Remuneration inAnnexure -6 vii. Corporate Governance Report inAnnexure-7 viii. Management DiscussionAndAnalysisAnnexure -8
ACKNOWLEDGMENT
The Board takes this opportunity to express its sense of gratitude to all the Customers, Shareholders, Government Departments, Bankers and Suppliers of the Company. The Board also wishes to pay tribute to all the employees of the Company for their splendid commitment and dedication.
On behalf of the Board of Directors |
||
Sd/- |
Sd/- |
|
Nikhilesh Khandelwal |
Gauri Bhagat |
|
Managing Director |
Director |
|
DIN : 06945684 |
DIN : 06950001 |
|
Place: Mumbai |
||
Dated: 14.08.2024 |
||
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
Download The App Now
Follow us on
2025, IIFL Capital Services Ltd. All Rights Reserved
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
