To The Members,
Your Directors have pleasure in presenting the 13th Annual Report of your
Company together with the Audited Statements of Accounts for the year ended March 31,
2023.
| Financial Results |
Year Ended 31.03.2023 |
Year Ended 31.03.2022 |
| Revenue for the year |
126.15 |
45.89 |
| Profit/(Loss) before Tax (PBT) |
10.90 |
17.26 |
| Less: Financial Expenses |
- |
- |
| Profit/(Loss) before Depreciation/Amortization (PBDT) |
10.90 |
17.26 |
| Less: Depreciation |
14.45 |
1.93 |
| Net Profit/(Loss) before Taxation (PBT) |
(3.55) |
15.33 |
| Less: Provision for Taxation (including Deferred Tax) |
(0.78) |
3.61 |
| Add: Extra-ordinary Items (Excess Provisioning) |
- |
- |
| Profit/(Loss) after Tax & Extra-ordinary Items |
(2.77) |
11.72 |
| Less: Provision for Dividend |
- |
- |
| Less: Transfer to General / Statutory Reserves |
- |
- |
| Add/(Less) Other Comprehensive Income |
- |
- |
| Profit/(Loss) available for Appropriation |
(2.77) |
11.72 |
| Add: Profit/(Loss) brought forward from Previous Year |
12.54 |
4.82 |
| Less: Profit utilized for issue of Bonus Equity Shares |
- |
(4.00) |
| Balance of Profit/(Loss) carried forward |
9.77 |
12.54 |
OVERALL PERFORMANCE
Total revenue for the year stood at 126.15 lakh in comparison to last years revenue of
45.89 lakh. In term of Profit/(Loss) before taxation, the Company has earned/incurred a
profit/(loss) of (3.55) lakh in comparison to last years profit of 15.33 lakh.
Profit/(Loss) after Tax and Extra-Ordinary Items stood at (2.77) lakh in comparison to
last financial years profit of 11.72 lakh. The Company is in to the business of running
hotels, resorts, restaurants and cafe and other allied touristic activities.
DIVIDEND AND RESERVES
In view of losses and in order to conserve resources and to meet financial requirements
to implement its future plans, your Directors do not propose any dividend for the year
under review. During the year under review Nil was transferred to General Reserves.
SHARE CAPITAL
The paid up Equity Share Capital as on March 31, 2023 was 7.853 Crore consisting of
78,53,000 Equity Shares of 10/- each. During the year under review, the Company has not
issued any share with differential voting rights; nor granted stock options nor sweat
equity. As on March 31, 2023, none of the Directors and/or Key Managerial Person of the
Company hold instruments convertible in to Equity Shares of the Company.
Equity Shares with Differential Voting Rights
The Company has not issued any equity shares with differential voting rights.
FINANCE AND ACCOUNTS
As mandated by the Ministry of Corporate Affairs, the financial statements for the year
ended on March 31, 2023 has been prepared in accordance with the Indian Accounting
Standards (IND AS) notified under Section 133 of the Companies Act, 2013 read with the
Companies (Accounts) Rules, 2014. The estimates and judgements relating to the Financial
Statements are made on a prudent basis, so as to reflect in a true and fair manner, the
form and substance of transactions and reasonably present the Companys state of affairs,
profits and cash flows for the year ended March 31, 2023. Accounting policies have been
consistently applied except where a newly issued accounting standard, if initially adopted
or a revision to an existing accounting standard requires a change in the accounting
policy hitherto in use. Management evaluates all recently issued or revised accounting
standards on an ongoing basis. The Company discloses standalone financial results on a
quarterly basis which are subjected to limited review and publishes standalone audited
financial results on an annual basis. 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. There is no audit
qualification in the standalone financial statements by the statutory auditors for the
year under review.
BUSINESS SEGMENT
The company is into the business of running Hotels, Resorts, Restaurants and cafes and
other allied touristic activities.
PARTICULARS OF LOANS, GUARANTEES & INVESTMENTS
Details of Loans, Guarantees and Investments, if any, covered under the provisions of
Section 186 of the Companies Act, 2013 are given in the notes to the Financial Statements.
SUBSIDIARY COMPANY
The Company does not have any material Subsidiary, Associate or Joint Venture Company
whose net worth exceeds 20% of the consolidated net worth of the holding company in the
immediately preceding accounting year or has generated 20% of the consolidated income of
the Company during the previous financial year. Accordingly, a policy on material
subsidiaries has not been formulated. During the year, no Company has ceased to be
Subsidiary, Associate or Joint Venture Company.
POLICY FOR DETERMINING MATERIAL SUBSIDIARY COMPANIES
The Company has formulated a “Policy for determining material Subsidiary
Companies” of the Company. This policy is available on your Companys website
https://www.silverpearlhospitality.com/companypolicies.htm
MATERIAL CHANGES AFFECTING THE COMPANY
There have been no material changes and commitments affecting the financial position of
the Company between the end of the financial year and date of this report. There has been
no change in the nature of business of the Company.
CHANGE IN NATURE OF BUSINESS, IF ANY
There are no changes in the nature of business in the financial year 2022-23.
RELATED PARTY TRANSACTIONS
All transactions entered into with related parties as defined under the Companies Act,
2013 during the financial year, were in the ordinary course of business and on an arms
length pricing basis and do not attract the provisions of Section 188 of the Companies
Act, 2013. There were no materially significant transactions with the related parties
during the financial year, which were in conflict with the interest of the Company. The
requisite details under Form AOC-2 in Annexure III have been provided elsewhere in this
Report. Suitable disclosure as required by the Accounting Standard (Ind-AS 24) has been
made in the notes to the Financial Statements. All Related Party Transactions are placed
before the Audit Committee for approval. Omnibus approval was obtained on a yearly basis
for transactions which are of repetitive nature. Transactions entered into pursuant to
omnibus approval are verified by the Risk Assurance Department and a statement giving
details of all Related Party Transactions are placed before the Audit Committee and the
Board for review and approval on a quarterly basis. None of the Directors has any
pecuniary relationships or transactions vis-a-vis the Company The Company has put in place
a mechanism for certifying the Related Party Transactions Statements placed before the
Audit Committee and the Board of Directors from an Independent Chartered Accountant Firm.
The Policy on materiality of and dealing with Related Party Transactions as approved by
the Board is uploaded on the website of the Company and is accessible at the website of
the Company. None of the Directors has any pecuniary relationship or transactions
vis-a-vis the Company except remuneration and sitting fees. In accordance with the
provisions of the SEBI Listing Regulations, the Company has in place the Policy on dealing
with Related Party Transactions which is available on its website at the link:
https://www.silverpearlhospitality.com/companypolicies.htm
SECRETARIAL STANDARDS
The Directors state that applicable Secretarial Standards, i.e. SS-1 and SS-2, relating
to ‘Meetings of the Board of Directors and ‘General Meetings, respectively,
have been duly complied with.
MANAGEMENT DISCUSSION & ANALYSIS
The Management Discussion and Analysis on the operations of the Company as prescribed
under Part B of Schedule V read with regulation 34(3) of the Listing Regulations, 2015 is
provided in a separate section and forms part of the Directors Report.
BOARD EVALUATION
The Board of Directors has carried out an annual evaluation of its own performance,
board committees and individual directors pursuant to the provisions of the Act and SEBI
Listing Regulations. The performance of the Board was evaluated by the Board 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 broadly based on the
Guidance Note on Board Evaluation issued by the Securities and Exchange Board of India on
January 5, 2017.
In Compliance with Section 149 (7) read with Schedule IV of the Companies Act, 2013 and
Regulations 25(3) of the SEBI LODR Regulations, 2015, a separate Board Meeting of
Independent Directors of the Company was held on March 1, 2022 wherein, the following
items in agenda were discussed: reviewed the performance of Non-Independent Directors and
the Board as a whole. reviewed the performance of the Chairperson of the company, taking
into account the views of Executive Directors and Non-Executive Directors; Assessed 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. The Board evaluates its composition to ensure that the Board has the appropriate
mix of skills, experience, independence and knowledge to ensure their continued
effectiveness. In the table below, the specific areas of focus or expertise of individual
Board members have been highlighted.
Matrix setting out the skills/expertise/competence of the Board of Directors
| No. Essential Core skills/expertise/competencies required for the Company |
Core skills/expertise/competencies of all the Directors on the Board of the Company |
| 1 Strategic and Business Leadership |
The Directors and especially the Managing Director have many years of experience. |
| 2 Financial expertise |
The Board has eminent business leaders with deep knowledge of finance and business. |
| 3 Governance, Compliance and Regulatory |
The presence of Directors with qualifications and expertise in Law and Regulatory
affairs lends strength to the Board. |
| 4 Knowledge and expertise of Trade and Technology |
The Directors have profound knowledge of economic Affairs, trade and technology
related matters. |
NUMBER OF MEETINGS OF THE BOARD
The details of the Board Meetings and other Committee Meetings held during the
financial year 2022-23 are given in the separate section of Corporate Governance Report.
BOARD COMMITTEES
All Committees of the Board of Directors are constituted in line with the provisions of
the Companies Act, 2013 and applicable regulations of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
DIRECTORS
There is no change in the composition of Board of Directors of the Company during the
current financial year. The details of programme for familiarization of Independent
Directors with the Company, nature of the business segments in which the Company operates
and related matters are uploaded on the website of the Company. Further, none of the
Directors of the Company are disqualified under sub-section (2) of Section 164 of the
Companies Act, 2013.
INDEPENDENT DIRECTORS & KMPs
As per provisions of Section 149 of the 2013 Act, independent directors shall hold
office for a term up to five consecutive years on the board of a company, but shall be
eligible for re-appointment for another term up to five years on passing of a special
resolution by the company and disclosure of such appointment in Boards Report. Further
Section 152 of the Act provides that the independent directors shall not be liable to
retire by rotation in the Annual General Meeting (‘AGM) of the Company.
As per requirements of Regulation 25 of Listing Regulations, a person shall not serve
as an independent director in more than seven listed entities: provided that any person
who is serving as a whole time director in any listed entity shall serve as an independent
director in not more than three listed entities. Further, independent directors of the
listed entity shall hold at least one meeting in a year, without the presence of
non-independent directors and members of the management and all the independent directors
shall strive to be present at such meeting. In the opinion of the Board, the Independent
Directors possess the requisite expertise and experience and are the persons of high
integrity and repute.
They fulfil the conditions specified in the Companies Act, 2013 and the Rules made
thereunder and are independent of the management. The Independent Directors have confirmed
that they have complied with the Companys Code of Business Conduct & Ethics. Neither
there was a change in the composition of Board, nor in the employees from KMP category
during the current financial year.
DETAILS OF KMP APPOINTED AND RESIGNED DURING THE YEAR/DURING CURRENT PERIOD
| Sl. No. Name |
Designation |
Date of Appointment |
Date of Resignation |
| 1. None |
- |
- |
- |
DECLARATION BY INDEPENDENT DIRECTOR(S) AND RE-APPOINTMENT, IF ANY
The Independent Directors of the Company have confirmed compliance of relevant
provisions of Rule 6 of the Companies (Appointments and Qualifications of Directors)
Rules, 2014. The Nomination and Remuneration Committee had adopted principles for
identification of Key Managerial Personnel, Senior Management including the Executive
Directors. Further, all the Independent Directors have submitted their disclosures to the
Board that they fulfil all the requirements as stipulated in Section 149(6) of the
Companies Act, 2013 and Regulation 16(1)(b) of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, so as to qualify themselves to be appointed as
Independent Directors under the provisions of the Companies Act, 2013 and the relevant
rules.
In terms of Regulation 25(8) of Listing Regulations, they have confirmed that they are
not aware of any circumstance or situation which exists or may be reasonably anticipated
that could impair or impact their liability to discharge their duties. Based on the
declaration received from Independent Directors, the Board of Directors have confirmed
that they meet the criteria of Independence as mentioned under Section 149 of the
Companies Act, 2013 and Regulation 16(1)(b) of Listing Regulations and they are
independent of the management.
EVALUATION OF DIRECTORS, BOARD AND COMMITTEES
The Nomination and Remuneration Committee (NRC) of the Company has devised a policy for
performance evaluation of the individual directors, Board and its Committees, which
includes criteria for performance evaluation. Pursuant to the provisions of the Act and
the Listing Regulations and based on policy devised by the NRC, the Board has carried out
an annual performance evaluation of its own performance, its committees and individual
directors. The Board performance was evaluated based on inputs received from all the
Directors after considering criteria such as Board composition and structure,
effectiveness of Board and information provided to the Board, etc.
The performance of the committees was evaluated by the Board of Directors based on
inputs received from all the committee members after considering criteria such as
composition and structure of committees, effectiveness of committee meetings, etc.
Pursuant to the Listing Regulations, performance evaluation of independent directors was
done by the entire board, excluding the independent director being evaluated. A separate
meeting of the Independent Directors was also held for the evaluation of the performance
of non-independent Directors, performance of the Board as a whole and that of the Chairman
of the Board.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, TRIBUNALS OR COURTS
There are no significant and material orders passed by the Regulators/Courts that would
impact the going concern status of the Company and its future operations.
MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN THE END OF THE
FINANCIAL YEAR AND DATE OF REPORT
There have been no material changes and commitments affecting the financial position of
the Company between the end of Financial Year and date of the report.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 134(5) of the Companies Act, 2013 the Board of
Directors confirms that:
1. In the preparation of the annual accounts, for the year ended 31st March
2023, all the applicable accounting standards prescribed by the Institute of Chartered
Accountants of India have been followed along with proper explanation relating to material
departures, if any;
2. 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 as at March 31, 2023 and of the profit of
the Company for the year ended on that date;
3. that the Directors have 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;
4. that the Directors had prepared the annual accounts on a going concern basis;
5. that 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; and
6. that 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.
STATEMENT FOR DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY
As per Regulation 21 of Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulation, 2015 the top 100 listed entities needs to adopt Risk
Management Policy. Therefore, the Company is not required to adopt Risk Management Policy.
INTERNAL AUDIT AND INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY
Based on the framework of internal financial controls and compliance systems
established and maintained by the Company, the work performed by the internal, statutory
and secretarial auditors and external consultants, including the 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 FY 2023.
NOMINATION, REMUNERATION AND BOARD DIVERSITY POLICY
The Board of Directors has framed a policy which lays down a framework in relation to
remuneration of Directors, Key Managerial Personnel and Senior Management of the Company.
The Policy broadly lays down the guiding principles, philosophy and the basis for payment
of remuneration to Executive and Non-executive Directors (by way of sitting fees and
commission), Key Managerial Personnel, Senior Management and other employees. The policy
also provides the criteria for determining qualifications, positive attributes and
Independence of Director and criteria for appointment of Key Managerial Personnel / Senior
Management and performance evaluation which are considered by the Nomination and
Remuneration Committee and the Board of Directors while making selection of the
candidates. The above policy has been posted on the website of the Company.
VIGIL MECHANISM / WHISTLE BLOWER POLICY
In Compliance of the Companies Act, 2013 and Regulation 22 of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, the Company has adopted a Whistle Blower
Policy / Vigil Mechanism and has established the necessary vigil mechanism for Directors,
Employees and Stakeholders of the Company to report genuine concerns about unethical
behavior, actual or suspected fraud or violation of the Companys code of conduct or
ethics policy.
INFORMATION TECHNOLOGY
Innovation and Technology are synonymous with the Company. The investment in technology
acts as a catalyst and enables the Company to be innovative.
AUDITORS Statutory Auditors
Messrs Choudhary Choudhary & Co., Chartered Accountants, Kolkata (FRN 002910C) were
appointed as Statutory Auditors of the Company for a period of five consecutive years at
the Extra-Ordinary General Meeting (EOGM) of the Members held on December 27, 2021 on a
remuneration mutually agreed upon by the Board of Directors and the Statutory Auditors.
Their first term of 5 years will be completed in the 17th AGM which will be
held in September 2025. The Report given by M/s. Choudhary Choudhary & Co. on the
financial statement of the Company for the FY 2022-23 is part of the Annual Report. The
Notes on financial statement referred to in the Auditors Report are self-explanatory and
do not call for any further comments. The Auditors Report does not contain any
qualification, reservation, adverse remark or disclaimer. During the year under review,
the Auditors had not reported any matter under Section 143 (12) of the Act, therefore no
detail is required to be disclosed under Section 134 (3) (ca) of the Act.
Secretarial Auditors
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has
re-appointed Mrs. Kriti Daga, Company Secretaries in Practice (C. P. No. 14023) to
undertake the Secretarial Audit of the Company. The Report of the Secretarial Audit Report
in the prescribed Form MR-3 is annexed in this Annual Report as Annexure II. The same does
not contain any qualification, reservation or adverse remark. During the year, your
Company has complied with applicable Secretarial Standards i.e. SS-1 and SS-2, relating to
“Meetings of the Board of Directors” and “General Meetings”,
respectively. In addition to the above and pursuant to SEBI circular dated 8 February
2019; a report on secretarial compliance (Regulation 24-A of SEBI LODR Regulations, 2015)
by Mrs. Kriti Daga for the FY2022-23 has been submitted with stock exchanges. There are no
observations, reservations or qualifications in the said report.
Internal Auditors
Your Company has an effective internal control and risk-mitigation system, which are
constantly assessed and strengthened with new/revised standard operating procedures. The
Companys internal control system is commensurate with its size, scale and complexities of
its operations. The internal and operational audit is entrusted to M/s P R Shukla &
Associates, Chartered Accountant Firm, Kolkata (FRN - 327763E). The main thrust of
internal audit is to test and review controls, appraisal of risks and business processes,
besides benchmarking controls with best practices in the industry. The Audit Committee of
the Board of Directors actively reviews the adequacy and effectiveness of the internal
control systems and suggests improvements to strengthen the same. The Company has a robust
Management Information System, which is an integral part of the control mechanism.
The Audit Committee of the Board of Directors, Statutory Auditors and the Key
Managerial Personnel are periodically apprised of the internal audit findings and
corrective actions taken. Audit plays a key role in providing assurance to the Board of
Directors. Significant audit observations and corrective actions taken by the management
are presented to the Audit Committee of the Board. To maintain its objectivity and
independence, the Internal Audit function reports to the Chairman of the Audit Committee.
EXTRACT OF ANNUAL RETURN
In terms of Section 92(3) of the Companies Act, 2013 and Rule 12 of the Companies
(Management and Administration) Rules, 2014, the Annual Return of the Company is attached
as Annexure III to this report.
DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
& REDRESSAL) ACT 2013 READ WITH RULES
Pursuant to the requirements of Section 22 of Sexual Harassment of Women at Workplace
(Prevention, Prohibition & Redressal) Act 2013 read with Rules thereunder, this is to
certify and declare that there was no case of sexual harassment during the year under
review. Neither there was a case pending at the opening of Financial Year, nor has the
Company received any Complaint during the year.
STATUTORY INFORMATION AND OTHER DISCLOSURES
Since the Company is into the hospitality business; the information regarding
Conservation of Energy, Technology Absorption, Adoption and Innovation, as defined under
section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies
(Accounts) Rules, 2014, is reported to be NIL.
The Disclosure required under Section 197(12) of the Act read with the Rule 5(1) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is annexed
as Annexure ‘V and forms an integral part of this Report.
A statement comprising the names of top employees in terms of remuneration drawn and
every persons employed throughout the year, who were in receipt of remuneration in terms
of Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014 is annexed as Annexure ‘VI and forms an integral part of this annual
report.
The above Annexure is not being sent along with this annual report to the members of
the Company in line with the provisions of Section 136(1) of the Act. Members who are
interested in obtaining these particulars may write to the Company Secretary at the
Registered Office of the Company.
The aforesaid Annexure is also available for inspection by Members at the Registered
Office of the Company, 21 days before and up to the date of the ensuing Annual General
Meeting during the business hours on working days. None of the employees listed in the
said Annexure is a relative of any Director of the Company. None of the employees hold (by
himself or along with his spouse and dependent children) more than two percent of the
Equity Shares of the Company.
BUSINESS RESPONSIBILITY REPORT
As the Company is not among top 500 or 1000 Companies by turnover on Stock Exchanges,
the disclosure of Report under of Regulation 34(2) of the Listing Regulations is not
applicable to the Company for the year under review.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The Company has not earned or used foreign exchange earnings/outgoings during the year
under review.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted any deposit from the public
falling within the ambit of Section 73 of the Companies Act, 2013 and The Companies
(Acceptance of Deposits) Rules, 2014.
MAINTENANCE OF COST RECORDS
The maintenance of cost records for the services rendered by the Company is not
required pursuant to Section 148(1) of the Companies Act, 2013 read with Rule 3 of
Companies (Cost Records and Audit) Rules, 2014.
STATUTORY AUDITORS AND AUDITORS REPORT
The Notes on Financial Statement referred in the Auditors Report are self-explanatory
and do not call for any further comments. The Auditors Report does not contain any
qualification, reservation, adverse remark or disclaimer for the Financial Year 2022-23.
REPORTING OF FRAUDS BY AUDITORS
During the year under review, the Statutory Auditors and the Secretarial Auditors have
not reported any instances of frauds committed in the Company by its officers or employees
of Audit Committee under Section 143(12) of the Companies Act, 2013, details of which
needs to be mentioned in this Report.
REPORT ON CORPORATE GOVERNANCE
Our Company is listed on SME Exchange of BSE, and thus the provision of Regulations 17,
14[17A,] 18, 19, 20, 21, 22, 23, 24, 15[24A,] 25, 26, 27 and clauses (b) to (i) of
sub-regulation (2) of regulation 46 and para C , D and E of Schedule V of the SEBI LODR
Regulations, 2015. However the Company is voluntarily complying with the above
Regulations. A separate section on corporate governance practices followed by the Company,
together with a certificate from the Companys Auditors confirming compliance forms an
integral part of this Report.
GENERAL
Your Directors state that during Financial Year 2022-23:
The Company has not issued any Equity Shares with differential rights as to Dividend,
Voting or otherwise. The Company has not issued any Sweat Equity Shares during the year.
There are no significant or material orders passed against the Company by the Regulators
or Courts of Tribunals during the year ended March 31, 2023 which would impact the going
concern status of the Company and its future operations. The Central Government has not
prescribed the maintenance of cost records for any of the products of the Company under
sub-section (1) of Section 148 of the Companies Act, 2013 and the Rules framed there
under. There is no change in nature of business of the Company during the year.
CAUTIONARY STATEMENT
Statements in this Directors Report and Management Discussion and Analysis describing
the Companys objectives, projections, estimates, expectations or predictions may be
“forward-looking statements” within the meaning of applicable securities laws
and regulations. Actual results could differ materially from those expressed or implied.
APPRECIATION
Your Directors place on record their sincere appreciation for the assistance and
guidance provided by the Reserve Bank of India, the Ministry of Corporate Affairs, the
Securities and Exchange Board of India, government and other regulatory Authorities, stock
exchanges, other statutory bodies, Companys bankers, Members and employees of the Company
for the assistance, cooperation and encouragement and continued support extended to the
Company. Your Directors also gratefully acknowledge all stakeholders of the Company viz.
customers, members, dealers, vendors, banks and other business partners for the excellent
support received from them during the year. Our employees are instrumental in helping the
Company scale new heights, year after year. Their commitment and contribution is deeply
acknowledged. Your involvement as shareholders is also greatly valued. Your Directors look
forward to your continuing support.
| Kolkata, May 26, 2023 |
By order of the Board |
|
For Silver Pearl Hospitality & Luxury Spaces Limited |
|
S/d- |
| Registered Office : |
Rajesh Kumar Negi |
| 3B, Lal Bazar Street, Sir RNM House, 5th Floor, |
DIN: 08131019 |
| Room No. 2, Kolkata 700001 (West Bengal) |
Chairman & Managing Director |
+91-9892691696
