Dear Shareholder,
Your Directors have pleasure in presenting the 35th Annual Report and the audited
financial statements of your company for the year ended 31st March, 2023.
FINANCIAL HIGHLIGHTS:
Your Companys financial performance for the financial year ended 31st March 2023, is
summarized below:
(Rs. In Lacs)
| Particulars |
2022-23 |
2021-22 |
| Revenue from Operation |
24269.43 |
23460.97 |
| Other Income |
13.54 |
47.19 |
| Gross Receipts |
24282.97 |
23508.16 |
| Total Expenses |
23308.89 |
22833.16 |
| Profit before Tax |
974.08 |
675.01 |
| Tax Expenses |
233.83 |
186.00 |
| Profit after Tax |
740.25 |
489.01 |
| Comprehensive Income |
- |
- |
| Total Comprehensive Income |
740.25 |
489.01 |
| Paid up Equity Share Capital |
965.29 |
965.29 |
| Reserves excluding revaluation reserve |
7182.62 |
6442.37 |
| Earnings per share |
7.67 |
5.07 |
OVERVIEW AND STATE OF THE COMPANYS AFFAIRS:
During the financial year under review, revenue from operations of the Company was Rs.
24269.43 lacs as compared to Rs. 23460.97 lacs in the previous financial year 2022. The
company has earned a net profit of Rs. 740.25 lacs as against net profit of Rs. 489.01
lacs in the previous financial year.
CHANGE IN NATURE OF BUSINESS
No change in nature of business has taken place during the year under review.
DIVIDEND
The Board regrets its inability to recommend any dividend and propose to plough back
profits of the Company for the growth of business of the Company.
DETAILS OF SUBSIDIARIES. JOINT VENTURES OR ASSOCIATE COMPANIES
The Company has no Subsidiary, Joint Venture or Associate Company. No Company has
become or ceased to be Subsidiary, Joint Venture or Associate Company during the financial
year under review.
SHARE CAPITAL
During the year under review, the Company has neither issued any shares not granted any
stock options or sweat equity. As on 31st March, 2023, the Company had no outstanding
convertible instruments.
RESERVE
During the Financial year 2022-23, the Company has proposed no amount transfer to
reserves.
FINANCE:
Cash and cash equivalents and bank balances as at March 31, 2023 was Rs. Rs. 93.58
lakhs. The Company continues to focus on judicious management of its working capital,
Receivables, inventories and other working capital parameters were kept under strict check
through continuous monitoring.
DEPOSITS
During the year under review, your Company has not accepted any deposits covered under
chapter V of the Companies Act, 2013 & section 73 of the Companies Act, 2013, read
with the Companies (Acceptance of Deposits) Rules, 2014. The Company has no deposit which
is not in compliance with the provisions the Companies Act, 2013.
PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS
During the year under review, the Company has not made any loans, guarantees and
investments which are governed by the provisions of section 186 of the Companies Act,
2013.
MATERIAL CHANGES AND COMMITMENTS. IF ANY. AFFECTING THE FINANCIAL POSITION OF THE
COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH
THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT
No material changes and commitments have occurred which may affect the financial
position of the Company after the close of the Financial Year till the date of this
report.
CREDIT RATING DURING YEAR
CRISIL Ratings had reaffirmed the rating of BBB / Negative / A3+for the bank loan
facilities of Rs 76.5 Cr of Riba Textiles Limited on 16th May 2022.
THE DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANYS OPERATIONS IN FUTURE
There are no significant and material orders passed by the Regulators/Courts which
would impact the going concern status of the Company and its future operations.
INTERNAL AUDITORS
Pursuant to the recommendation of the Audit Committee M/s Midha & Khurana were
appointed Internal Auditors of the Company by the Board of Directors in their meeting held
on 19th January, 2022 to conduct the internal audit. The Internal Audit Reports received
from the Internal Auditors, were reviewed by the Audit Committee from time to time.
INTERNAL FINANCIAL CONTROL
The Company has in place adequate internal financial controls with reference to
financial statements, which is commensurate with the size, scale and complexity of its
operations. During the year, such controls were tested and no material weakness was
observed. The Company also has Budgetary Control System and Management Information System
which are backbone of the Company for ensuring that your Companys assets and interests
are safeguarded.
CORPORATE SOCIAL RESPONSIBILITY INITIATIVES
In accordance with Section 135 of the Companies Act, 2013 read with Companies
(Corporate Social Responsibility) Rules, 2014, as amended, the Company had constituted a
Corporate Social Responsibility (CSR) Committee and approved Corporate Social
Responsibility Policy.
A detail about the CSR policy is available on our website, http://www.ribatextiles.com/.
The annual report on our CSR activities is appended as Annexure II to the
Boards report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
The particulars of Conservation of Energy, Technology Absorption and Foreign Exchange
Earnings and Outgo as required under Section 134(3) (m) of the Companies Act, 2013 read
with Rule 8(3) of the Companies (Accounts) Rules, 2014, are annexed herewith marked as Annexure
I to this Report.
INDUSTRIAL RELATIONS:
During the year under review, your Company enjoyed cordial relationship with workers
and employees at all levels.
DIRECTORS AND KEY MANAGERIAL PERSONNEL
Mr. Prem Singh Paliwal (DIN: 005253533) Independent Directors of the Company resigned
w.e.f. 01st April, 2022 due to some personal reasons. Company has received
confirmation from Mr. Prem Singh Paliwal that there are no material reasons for his
resignation other than those mentioned in his resignation letter.
Mr. Randhir Singh (DIN: 06939267) Independent Directors of the Company resigned w.e.f.
29th April, 2023 due to some personal reasons. Company has received confirmation from Mr.
Randhir Singh that there are no material reasons for his resignation other than those
mentioned in his resignation letter.
At present, The Board of Directors consists of members, comprising of Three independent
directors and three promoter directors. Other than above during the year under review, no
changes have taken place in the Directors and Key Managerial Personnel.
As per the provisions of Section 152(6) of the Companies Act, 2013, Mr. Nitin Garg
(DIN: 00202179) Whole-time Director, retires by rotation at the ensuing Annual General
Meeting and being eligible has offered himself for reapp ointment.
Mrs. Asha Garg (DIN: 06987609) Chairperson & Whole-time Director, Mr. Amit Garg
(DIN No. 00202171), Managing Director and Mr. Nitin Garg (DIN No. 00202179) Whole-time
Director, Mr. Rajnish Mittal, Chief Financial Officer and Ms. Neha Dubey, Company
Secretary, are the Key Managerial Personnel of the Company.
None of the Directors of your Company is disqualified as per provisions of Section
164(2) of the Companies Act, 2013. All the Independent Directors of the Company have given
declarations that they meet the criteria of independence as prescribed under Section
149(6) of the Act and Regulation 16(1)(b) of the Listing Regulations and that they are not
aware of any circumstance or situation which exist or may be reasonably anticipated that
could impair or impact their ability to discharge duties with an objective independent
judgment and without any external influence. The said declarations were taken on record by
the Board after assessing due veracity of the same.
Pursuant to Rule 6 of Companies (Appointment and Qualification of Directors) Rules
2014. All Independent Directors of the Company are already registered in Databank and Mr.
Navnish Mittal and Mr. Shyam Sunder Miglani is exempted from passing of the proficiency
test. However, the other directors including newly appointed Directors are in the process
of registration in the same and will also go through the proficiency test in the
Independent Directors databank maintained with the Indian Institute of Corporate Affairs
(IICA).
In the opinion of the Board of Directors of the Company all Independent Directors
possess high integrity expertise and experience including the proficiency required to
discharge the duties and responsibilities as Directors of the Company
CORPORATE GOVERNANCE REPORT AND MANAGEMENT DISCUSSION & ANALYSIS
The Corporate Governance Report and Management Discussion & Analysis, which form
part of this Report, are set out as Annexure VI & Annexure VII, together with
the Certificate from the auditors of the Company regarding compliance of conditions of
Corporate Governance as stipulated in Schedule V of Regulation 34(3) of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015.
NUMBER OF BOARD MEETING
The Board of Directors met 07 (Seven) times during the year, the details of which are
provided in the Corporate Governance Report.
BOARD LEVEL PERFORMANCE EVALUATION
Pursuant to the provisions of the Companies Act, 2013 and Listing Regulations and SEBI
LODR, 2015, annual evaluation of Board, Independent Directors, Non-Executive Directors,
Executive Directors, and Committees was made. Performance of the Board was evaluated after
seeking inputs from all the Directors on the basis of the criteria such as adequacy of its
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 composition of committees, terms of
reference of committees, effectiveness of the committee meetings, participation of the
members of the committee in the meetings etc.
The Board and the Nomination and Remuneration Committee also carried out evaluation of
the performance of individual directors on the basis of criteria such as attendance and
effective participation and contributions at the meetings of the Board and its committees,
exercise of his/her duties with due 8s reasonable care, skill and diligence, etc.
In a separate meeting of the Independent Directors of the Company held on 31.03.2023,
performance of the nonindependent Directors, performance of the Board as a whole and
performance of the Chairman were evaluated. The Chairman of the Meeting of the Independent
Directors apprised the Board about the evaluation carried by it.
DIRECTOR S RESPONSIBILITY STATEMENT
In Compliance with section 134(5) of the Companies Act, 2013, the Board of Directors to
the best of their knowledge and hereby confirm the following:
(a) In the preparation of the annual accounts, the applicable accounting standards had
been followed along with proper explanation relating to material departures;
(b) The directors had 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 profit and loss of the company for that period;
(c) The directors had taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of this Act for safeguarding the
assets of the company and for preventing and detecting fraud and other irregularities;
(d) The directors had prepared the annual accounts on a going concern basis;
(e) The Directors had laid down internal financial controls to be followed by the
Company and that such internal financial controls are adequate and operating effectively.
(f) The directors have devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems are adequate and operating effectively.
Based on the framework of internal financial controls and compliance systems
established and maintained by the Company, work performed by the internal, statutory
auditors and external consultants 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.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
All Related Party Transactions that were entered during the financial year were on an
arms length basis and in the ordinary course of business and is in compliance with the
applicable provisions of the Act and the Listing Regulations. There were no materially
significant Related Party Transactions made by the Company during the year that required
shareholders approval under Regulation 23 of the Listing Regulations. Details of
transactions with related parties as required under Section 134(3) (h) of the Act read
with Rule 8(2) of the Companies (Accounts) Rules, 2014 are provided in Annexure III in
Form AOC-2 and forms part of this Report.
The policy on Related Party Transactions as approved by the Board has been uploaded on
the Companys website www. ribatextiles. com. There are no materially significant
related party transactions that may have potential conflict with interest of the Company
at large.
The details pertaining to transaction with person or entity belonging to the
promoter/promoter group in the Company is mentioned in the Standalone Financial Statement.
FAMILIARIZATION PROGRAMME FOR THE INDEPENDENT DIRECTORS
In compliance with the Listing Regulations, the Company has put in place a
familiarization program for the Independent Directors to familiarize them with their role,
rights and responsibility as Directors, the working of the Company, nature of the industry
in which the Company operates, business model etc. The details of the familiarization
programmes are explained in the Corporate Governance Report.
It can be accessed on Companys website www.ribatextiles.com.
CODE OF CONDUCT:
The Code lays down the standard procedure of business conduct which is expected to be
followed by the Directors and the designated employees in their business dealings and in
particular on matters relating to integrity in the work place, in business practices and
in dealing with stakeholders. The Code gives guidance through examples on the expected
behavior from an employee in a given situation and the reporting structure.
The Company has complied with the requirements about the Code of Conduct for Board
members and Senior Management Personnel. A compliance certificate by the Managing Director
is annexed as and forms part of this Annual Report.
WHISTLE BLOWER POLICY
The Company has a Whistle Blower Policy, including vigil mechanism to report genuine
concerns of grievances, providing direct access to the Chairperson of the Audit Committee
in appropriate and exceptional cases. The Whistle Blower Policy has been posted on the
website of the Company http: / /www.ribatextiles.com/.
AUDITORS AND AUDITORS REPORT
1. STATUTORY AUDITORS
Pursuant to the provisions of Section 139 of the Act and the rules framed thereunder,
Ashwani k. Sindwani 8s co., (Firm Registration No. 021529N), Chartered Accountants, were
appointed as statutory auditors of the Company from the conclusion of the Thirty fourth
AGM of the Company held 2022.
In terms of the provisions of Section 139 (1) of the Companies Act, 2013 the Statutory
Auditor has confirmed that they are not disqualified from continuing as Auditor of the
Company. The financial statement of the Company for the year 2022-23 is part of Annual
Report.
The Auditors Report does not contain any qualification, reservation or adverse remark
calling for further explanation. During the year under review, the Statutory Auditors have
not reported any incident related to fraud to the Audit Committee or the Board under
Section 143(12) of the Act.
2. 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 of Directors of the Company
had appointed M/s. KJ & Associates, Practicing Company Secretary to undertake the
Secretarial Audit of the Company for the financial year ended on 31st March, 2023. The
Secretarial Audit Report is annexed as Annexure IV.
In line with the Circular dated February 08, 2019 issued by the Securities and Exchange
Board of India, Annual Secretarial Compliance Report for the year ended 31st March, 2023
confirming compliance of all applicable SEBI Regulations, Circulars and Guidelines, by the
Company was issued by M/s KJ 8s Associates, Practicing Company Secretaries and filed with
the Stock Exchanges on 30th May, 2023.
The Secretarial Auditors Report for the financial Year 2022-23, does not contain any
qualification, reservation or adverse remark. This report is self-explanatory and doesnt
require any comment.
MAINTENANCE OF COST RECORDS
The Directors state that the company is export oriented, accordingly exempted to
maintain such accounts and records by the Company, as specified by the Central Government
under Section 148(1) of the Companies Act, 2013.
CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS
A certificate from M/s. KJ 8& Associates. Company Secretaries, to the effect that
none of the Directors of the Company have been debarred or disqualified from being
appointed or continuing as Directors of the Company by the Board/Ministry of Corporate
Affairs or any such statutory authority is attached at the end of this report.
EXTRACT OF ANNUAL RETURN
In accordance with section 134(3) (a) of the Companies Act, 2013, an extract of the
annual return in the prescribed format is enclosed herewith as Annexure "V" to
the Boards report. Extract of Annual Return is also available on our website, www.ribatextiles.com.
RISK MANAGEMENT
The Company has a Risk Management framework which enables it to take certain risks to
remain competitive and achieve higher growth, and at the same time mitigate other risks to
maintain sustainable results. Under the framework, the Company has laid down a Risk
Management Policy, which defines the process for identification of risks, its assessment,
mitigation measures, monitoring and reporting. While the Company, through its employees
and Executive Management, continuously assess the identified Risks, the Committee reviews
the identified Risks and its mitigation measures annually.
COMPANYS POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION
The Board has on the recommendation of the Nomination & Remuneration Committee,
framed a policy for selection and appointment of Directors, Key Managerial Personnel and
Senior Management and their remuneration. The Remuneration Policy is explained in the
Corporate Governance Report forming part of this Report.
PARTICULARS OF EMPLOYEES
PARTICULARS PURSUANT TO SECTION 197(121 AND THE RELEVANT RULES
In accordance with the provisions of Section 197(12) of the Companies Act, 2013 and
Rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014,
the names and other particulars of employees are as follows:
i. The ratio of the remuneration of each Director to the median remuneration of the
employees of the Company for the year 2022-23:
| SI No. |
Name |
Nature of Directorship |
Ratio |
| 1 |
Mrs. Asha Garg |
Chairman & Whole-time Director |
45.45:1 |
| 2 |
Mr. Amit Garg |
Managing Director |
49.07:1 |
| 3 |
Mr. Nitin Garg |
Whole-time Director |
48.10:1 |
ii. The percentage increase in remuneration of each Director, Chief Financial Officer,
Chief Executive Officer, Company Secretary in the financial year 2022-23:
| SI No. |
Name |
Nature of Directorship |
% Increase |
| 1 |
Mrs. Asha Garg |
Chairman & Whole-time Director |
88.68% |
| 2 |
Mr. Amit Garg |
Managing Director |
7.96% |
| 3 |
Mr. Nitin Garg |
Whole-time Director |
5.83% |
| 4 |
Mr. Rajnish Mittal |
CFO |
2.44% |
| 5 |
Ms. Neha Dubey |
CS |
2.44% |
iii. The percentage increase in the median remuneration of employees in the financial
year 2022-23: 2.61%.
iv. The number of permanent employees on the rolls of Company: 304 as on 31st March,
2023.
v. The explanation on the relationship between average increase in remuneration and
Company performance:
The Turnover for the financial year ended 31st March, 2023 Increased by 3.44% whereas
the increase in median remuneration is 2.61%. The average increase in median remuneration
was in line with industry benchmark and performance of the Company.
vi. comparison of the remuneration of the key managerial personnel against the
performance of the Company:
The Turnover for the financial year ended 31st March, 2023 increased by 3.44% whereas
there increase in remuneration of Key Managerial Personnel was 2.44%. The increase in
remuneration was in line with industry benchmark and performance of the Company.
vii. Affirmation that the remuneration is as per the Remuneration Policy of the
Company: Yes
viii. Percent increase over/ decrease in the market quotations of the shares of the
company as compared to the rate at which the company came out with the last public offer
in the year: The Company has not made any public offer after initial public offer.-
ix. Average percentile increase already made in the salaries of employees other than
the managerial personnel in the last financial year was 10% and its comparison with the
percentile increase in the managerial remuneration was 8%. There is no exceptional
circumstance for increase in the managerial remuneration.
x. Comparison of each remuneration of the Key Managerial Personnel against the
performance of the Company:
| Name |
CTC (Rs. In lakhs) |
PAT (Rs. In: lakhs) |
PAT Increase/ (Decrease) in % |
| Mrs. Asha Garg |
150.00 |
740.25 |
51.38 % (Increase) |
| Mr. Amit Garg |
161.94 |
|
|
| Mr. Nitin Garg |
158.74 |
|
|
| Mr. Rajnish Mittal |
8.40 |
|
|
| Ms Neha Dubey |
4.20 |
|
|
xi. The key parameters for any variable component of remuneration availed by the
Directors: There was no variable component paid to the Managing Director.
xii. The ratio of the remuneration of the highest paid Director to that of the
employees who are not Directors but receive remuneration in excess of the highest paid
Director during the year:
There was no employee who received remuneration in excess of the remuneration of
highest paid director.
xiii. During the year under report the Company had no employee employed for the whole
or the part of the year who was in receipt of remuneration prescribed under rule 5(2) of
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
HUMAN RESOURCE
Your Company firmly believes that human resources are its most valuable asset and
growth wheel with focus on nurturing and retaining talent, the Company provides avenues
for learning and development through functional, behavioral and leadership training
programs, knowledge exchange conferences, communication channels for information sharing.
Currently, your Company is managing a pool of 304 people across all the locations.
DETAILS OF NUMBER OF CASES FILED. IF ANY, AND THEIR DISPOSAL IN TERMS OF SECTION 22 OF
THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION. PROHIBITION AND REDRESSAL! ACT.
2013
The Company has always provided a congenial atmosphere for work to all the employees
that is free from discrimination and harassment including sexual harassment.
The company has complied with provisions relating to the constitution of Internal
Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013. The Company has also framed policy on
‘Prevention of Sexual Harassment at the workplace. We follow a gender-neutral
approach in handling complaints of sexual harassment and we are compliant with the law of
the land wherever we operate.
During the year ended March 31, 2023, No cases/complaints of Sexual Harassment of Women
at Workplace (Prevention, Prohibition and Redressal) Act, 2013 were reported to the Board.
COMMITTEES OF THE BOARD
Currently, the board has four Committees: the Audit Committee, the Nomination &
Remuneration Committee, the Corporate Social Responsibility Committee and the Stakeholders
Relationship Committee. The majority of the members of these committees are Independent
and non-executives.
A detailed note on the composition of the board and other committees is provided in the
corporate governance report section of this annual report.
CEO AND CFO CERTIFICATION
Pursuant to the Listing Regulations, CFO certification is attached with the Annual
Report. The Managing Director 8s the Chief Financial Officer also provide quarterly
certification on financial results while placing the financial results before the Board in
terms of the Listing Regulations.
COMPLIANCE WITH SECRETARIAL STANDARDS AND INDIAN ACCOUNTING STANDARDS
The Board of Directors affirms that during the Financial Year 2022-23, the Company has
complied with the applicable Secretarial Standards issued by the Institute of Company
Secretaries of India and approved by the Central Government under Section 118(10) of the
Companies Act, 2013. In the preparation of the Financial Statements, the Company has also
applied the Indian Accounting Standards (Ind AS) specified under Section 133 of the
Companies Act, 2013, read with Companies (Indian Accounting Standards) Rules, 2015.
LISTING OF EQUITY SHARES
The equity shares of your company are listed on Bombay Stock Exchange Limited (BSE).
The Annual Listing Fees for the year 2022-23 was paid within the scheduled time to the
Bombay Stock Exchange.
TRANSFER OF SHARES
As notified under Regulation 40(1) of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, except in case of transmission or transposition of
securities, requests for effecting transfer of securities shall not be processed unless
the securities are held in the dematerialized form with a depository.
TRANSFER OF UNCLAIMED/UNPAID AMOUNT TO INVESTOR EDUCATION AND PROTECTION FUND
Pursuant to provisions of the Act read with the Investor Education and Protection Fund
Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, as amended,
(‘Rules), the dividend which remains unclaimed or unpaid for a period of seven years
from the date of transfer to the Unpaid Dividend Account of the Company and shares on
which dividend are unclaimed or unpaid for a consecutive period of seven years or more are
liable to be transferred to IEPF: The Company was not required to transfer any amount /
securities to IEPF.
DETAILS IN RESPECT OF FRAUDS (OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL
GOVERNMENT! REPORTED BY THE AUDITORS UNDER SECTION 1431121 OF THE COMPANIES ACT
No frauds were reported by auditors under sub-section (12) of Section 143 of the
Companies Act, 2013.
DETAILS OF APPLICATION / ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY
CODE. 2016
Neither any application was made nor any proceeding pending under the Insolvency and
Bankruptcy Code, 2016 (31 of 2016) during the financial year.
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
The Company has not done any one-time settlement during the year under review.
ACKNOWLEDGEMENTS
The Board of Directors would like to express their sincere appreciation for the
assistance and co-operation received from Companys employees, customers, vendors,
investors and academic institutions for their continuous support.
The directors also thank the government of various countries, government of India, the
governments of various states in India and concerned government departments / agencies for
their co-operation.
The directors appreciate and value the contributions made by every member of the
Company.
By order of the Board of Directors
For Riba Textiles Limited
|
Sd/- |
| Place : Panipat |
Asha Garg |
| Date : 05.09.2023 |
Chairperson & Whole-time Director |
|
DIN: 06987609 |
+91-9892691696
