Outlook:
As you all know, Shri Krishna Prasadam Limited (hereinafter refer to as "SKPL" or "Company") is listed public company incorporated on 28.05.2009 under the provision of Companies Act, 1956, with the object of the dealing in rudraksha, beeds, tulsi, gems, diamonds, jewellers and precious stone. Later on, the company has changed its main object to trading in agriculture products and Real Estate business.
SKPL was under Corporate Insolvency Resolution Process (CIRP?). Hon?ble NCLT, New Delhi bench approved resolution plan of M/s Shri Krishna Prasadam Limited vide its order dated July 14, 2023. This will help Corporate Debtor to utilize all the existing resources of the resolution applicant and ultimately to start the business with the experience and expertise of Resolution Applicant and their Promoters.
I would like to inform you that the company from last 2 years, have taken various steps towards the implementation of the resolution plan and start the trading of the company and make the company compliant with the applicable provisions
Internal Controls Systems and their adequacy:
The company taking various steps to establish internal control systems to ensure operational efficiency, protection and conservation of resources, accuracy and promptness in financial reporting and compliance of law and regulations. The internal control system is supported by the internal audit process. The Internal Auditor reviews and ensures that the audit observations are acted upon. The Audit Committee of the Board reviews the Internal Audit reports and the adequacy and effectiveness of internal controls.
Human Resources:
The relationship with the employees continues to be cordial. The Company recognizes the importance and contribution of its employees for its growth and development and constantly endeavors to train nurture and groom its people. The Company puts emphasis on attracting and retaining the right talent. The company places emphasis on training and development of employees at all levels and has introduced methods and practices for Human Resource Development.
Cautionary Statement:
Statements in this Management Discussion and Analysis describing the company?s objectives, projections, estimates and expectations may be forward looking statement within the meaning of applicable laws and regulations. Actual results might differ materially from those either expressed or implied.
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