TO
THE MEMBERS,
The Directors of your Company are delighted to present the 30th
Annual Report along with the audited financial statements for the financial year ended
March 31, 2023. The consolidated performance of the Company and its subsidiaries has been
referred to wherever required.
1. FINANCIAL PERFORMANCE
Key highlights of standalone and consolidated financial performance for
the year ended March 31, 2023, are summarized as under:
(Amount in INR lakhs)
|
Standalone |
Consolidated |
| Particulars |
2022-23 |
2021-22 |
2022-23 |
2021-22 |
| Revenue from operations |
954.49 |
909.37 |
16,305.26 |
7,950.18 |
| Other Income |
150.69 |
2,819.64 |
128.68 |
92.96 |
| Total Income |
1,105.18 |
3,729.01 |
16,433.94 |
8,043.14 |
| Profit before depreciation, finance cost, tax expenses and |
139.88 |
3,062.57 |
653.73 |
1,048.85 |
| exceptional items |
|
|
|
|
| Less: Depreciation and Amortization expenses |
102.22 |
108.31 |
298.60 |
239.46 |
| Less: Finance cost |
16.69 |
16.70 |
171.91 |
70.86 |
| Profit before exceptional items and tax |
20.97 |
2,937.56 |
183.22 |
738.53 |
| Exceptional income/ (expense) |
2,091.57 |
-- |
2,091.57 |
-- |
| Profit/Loss before tax |
2,112.54 |
2,937.56 |
2,274.79 |
738.53 |
| Less: Tax expenses |
|
|
|
|
| a) Current tax |
334.89 |
108.42 |
334.89 |
108.42 |
| b) Deferred tax |
53.29 |
(73.11) |
65.68 |
(408.39) |
| c) Adjustment of tax of earlier years |
(49.72) |
6.90 |
(49.72) |
6.90 |
| Profit/Loss after Tax |
1,774.08 |
2,895.35 |
1,923.94 |
1,031.60 |
| Other Comprehensive Income (Net of tax) |
3.45 |
(2.32) |
(29.37) |
(13.68) |
| Total Comprehensive Income |
1,777.53 |
2,893.03 |
1,894.57 |
1,017.92 |
| Earnings Per Share (INR) |
17.79 |
27.59 |
19.29 |
9.90 |
Note: The standalone and consolidated financial statements of the
Company for the financial year ended March 31, 2023, have been prepared in accordance with
the Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs
and as amended from time to time.
2. STATE OF COMPANYS AFFAIRS
2.1 Review of Standalone Financial Results
The revenue from operations of the Company for the year ended March 31,
2023 stood at INR 954.49 lakhs as against INR 909.37 lakhs in the previous
financial year. The total Income stood at INR 1,105.18 lakhs for the year ended March 31,
2023 as compared to INR 3,729.01 lakhs in the previous financial year.
The standalone profit before tax decreased by INR 825.02 lakhs to INR
2,112.54 lakhs. The profit after tax stood at INR 1,774.08 lakhs as compared to INR
2,895.35 lakhs in the previous financial year. This includes an exceptional gain to the
tune of INR 2,091.57 lakhs on account of sale of land by the company.
2.2 Review of Consolidated Financial Results
The consolidated revenue from operations of the Company for the year
ended March 31, 2023 stood at INR 16,305.26 lakhs as against INR 7950.18 lakhs in the
previous financial year. The total Income stood at INR 16,433.94 lakhs for the year ended
March 31, 2023 as compared to INR 8,043.14 lakhs in the previous financial year.
The consolidated profit before tax increased by INR 1,536.26 lakhs to
INR 2,274.79 lakhs. The profit after tax stood at INR 1,923.94 lakhs as compared to
INR 1,031.60 lakhs in the previous financial year. This includes an exceptional gain to
the tune of INR 2,091.57 lakhs on account of sale of land by the company.
3. DIVIDEND
Your Directors have not recommended any dividend for the current
financial year due to conservation of profits and continued investment in the business.
4. TRANSFER TO RESERVES
Your Board of Directors has transferred an amount of INR 354.82 lakhs
to the Statutory Reserve maintained under Section 45 IC of the RBI Act, 1934 for the FY
2022-23.
5. SHARE CAPITAL
The Paid-up Equity Capital of the Company as on March 31, 2023 stood at
INR 1,99,50,000/- consisting of 99,75,000 Equity Shares of INR 2/- each. The Company has
not issued shares with differential voting rights, employee stock options and sweat equity
shares. The Company has paid Listing Fees for the FY 2022-23 to each of the Stock
Exchanges, where its equity shares are listed.
6. ANNUAL RETURN
As provided under Section 92(3) and Section 134(3)(a) of the Companies
Act, 2013, the Annual Return for FY 2022-23 is uploaded on the website of the Company and
can be accessed at https://www.smartlinkholdings.com/investor-relations.
7. MEETINGS
The Board meets at regular intervals to discuss and decide on the
Company/business policy and strategy apart from other Board business.
During the year, 6 (Six) Board Meetings and 5 (Five) Audit Committee
Meetings were held. The details of the same are given in the Corporate Governance Report
which forms part of this report. The intervening gap between the Meetings was within the
period prescribed under the Companies Act, 2013 and Regulation 17 of the SEBI (Listing
Obligations and Disclosure Requirement) Regulation, 2015.
Pursuant to provisions of part VII of the Schedule IV of the Companies
Act, 2013 and Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirement)
Regulation, 2015, one meeting of Independent Directors was held on May 06, 2022 for
transacting the business enumerated under the said provisions.
8. PARTICULARS OF LOANS / ADVANCES / GUARANTEE / INVESTMENTS
OUTSTANDING DURING THE FINANCIAL YEAR
The Company has provided Guarantees to its wholly owned subsidiaries in
compliance with section 186 of the Companies Act, 2013. During the year the company has
given guarantees of INR 5,000 lakhs to Digisol Systems Limited and INR 1,570 lakhs to
Synegra EMS Limited.
9. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
All Related Party Transactions (RPTs) that were entered into during the
financial year were on arms length basis and in the ordinary course of business.
These RPTs did not attract provisions of Section 188 of the Companies Act, 2013 and were
also not material RPTs under Regulation 23 of the Listing Regulations. None of the
transactions with related parties falls under the scope of Section 188(1) of the Act.
All RPTs are placed before the Board for approval. The Company has
developed a RPT Policy for the purpose of identification and monitoring such transactions.
The disclosures as required under IND-AS have been made in Note 37 to
the Standalone Financial Statements. The particulars of contracts or arrangements entered
by the Company with related parties pursuant to Section 134(3)(h) of the Act read with
Rule 8(2) of the Companies (Accounts) Rules, 2014 are given in Annexure – J in Form
AOC-2 and the same forms a part of this report. The Policy on RPT as approved by the Board
of Directors of the Company is available on the Companys website at https://www.smartlinkholdings.com/wp-content/uploads/2021/05/Related-Party-Transactions-Policy-Smartlink-2021.pdf.
10. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION
OF THE COMPANY
There was no material change/ commitment affecting the financial
position of the Company during the period from the end of the financial year on March 31,
2023 to the date of the Report.
11. CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY
ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
Your Company being a Non-Banking Finance Company, has no activities
involving conservation of energy and adoption of any specific technology.
Foreign Exchange earnings and outgo is given in note No. 25 of the
standalone Financial Statements of the Company forming part of this report.
12. DETAILS OF SUBSIDIARY COMPANIES
The Company has two subsidiaries, namely Digisol Systems Limited and
Synegra EMS Limited as on March 31, 2023. The board of Directors at its meeting held on
August 17, 2022 approved the Scheme of amalgamation of Telesmart SCS Limited (‘Telesmart),
subsidiary with Digisol Systems Limited (‘Digisol), wholly owned
subsidiary of the Company. Telesmart was engaged in the business of manufacturing wide
range of passive Networking (SCS) products and manufacturing of copper and fiber range of
cabling products. Digisol is a brand product company that caters to sales, marketing,
service and support of the ‘Digisol brand of active and passive (structured
cabling) products and solutions.
The amalgamation was done to enable consolidation of the business and
operations of Telesmart and Digisol which will provide significant impetus to growth by
permitting pooling of resources, enable synergies, reduce operational costs, achieve
economies of scale, increase operational efficiencies and greater focus and provide
expansion opportunities in a consolidated and compliant manner. The amalgamation will
enable optimum utilisation of various resources to your Company.
The Honble National Company Law Tribunal (‘NCLT)
approved the Scheme of amalgamation vide order dated March 03, 2023. The financial
statements of the Company are prepared in accordance with Section 129(3) of the Companies
Act, 2013. Further, a statement containing salient features of the financial statements of
our subsidiaries in prescribed format AOC-1 is appended as Annexure – I to the
Directors Report. The statement also provides the details of performance and
financial position of each subsidiary. In accordance with Section 136 of the Companies
Act, 2013, the audited financial statements, including consolidated financial statements
will be available on our website www.smartlinkholdings.com. The Company would provide the
annual accounts of the subsidiaries and the related detailed information to the
shareholders of the Company on specific request made to it in this regard. The same will
also be available at the Registered Office and corporate office of the Company for
inspection during office hours. Digisol Systems Limited and Synegra EMS Limited are
unlisted Material Subsidiaries of the Company. The Company has formulated a Policy on
Material Subsidiary as required under Listing Regulations and the policy is uploaded on
the website of the Company at
https://www.smartlinkholdings.com/wp-content/uploads/2020/03/Subsidiary-Policy-2019-amended.pdf.
13. RISK MANAGEMENT
Pursuant to section 134(3)(n) of the Companies Act, 2013, the Company
has a Risk Management (RM) framework to identify, evaluate Business risks and
opportunities. This framework seeks to create transparency, minimize adverse impact on the
business objectives and enhance the Companys competitive advantage.
The risk framework defines the risk management approach across the
enterprise at various levels including documentation and reporting. The framework helps in
identifying risk trend, exposure and potential impact analysis at a Company level.
The Risk Management policy formulated by the Company has identified the
key business risks and also the plans to mitigate the risks.
14. DIRECTORS AND KEY MANAGERIAL PERSONNEL
a. Key Managerial Personnel
Mr . Kamalaksha Naik, Executive Chairman, Mr. K. G. Prabhu, Chief
Financial Officer and Ms. Urjita Damle, Company Secretary have been designated as Key
Managerial Personnel in accordance with the provisions of Section 203 of the Companies
Act, 2013. There was no change in the Key Managerial Personnel during the year under
review.
b. Re-appointment of Directors
Ms. Arati Naik (DIN 06965985), Executive Director of the company, who
retired by rotation in terms of Section 152(6) of the Companies Act, 2013 was re-appointed
as Director of the Company at the Annual General Meeting of the Company held on September
23, 2022.
Ms. Arati Naik was reappointed as a Wholetime Director designated as
Executive Director of the Company for a period of 5 years with effect from April 01, 2022.
Mr. Kamalaksha Rama Naik (DIN: 00002013) retires by rotation and being eligible, offers
himself for re-appointment.
The Business item seeking shareholders approval for his
re-appointment forms part of the AGM Notice.
The Company has devised a Policy for performance evaluation of the
Board, Committees and other individual Directors (including independent directors) which
includes criteria for performance evaluation of Non-Executive Directors and Executive
Directors. The evaluation process inter-alia considers attendance of the Directors at
Board and Committee meetings, effective participation, domain knowledge, compliance with
code of conduct, vision and strategy, etc.
During the year under review, the Non-Executive directors of the
Company had no pecuniary relationship or transactions with the Company, other than sitting
fees, commission and reimbursement of expenses incurred by them for the purpose of
attending meetings of the Board/Committee of the Company.
c. Declaration by Independent Director
P ursuant to sub-section (7) of Section 149 of the Companies Act, 2013
read with the rules made thereunder, all the Independent Directors of the Company have
given the declaration that they meet the criteria of independence as laid down in
sub-section (6) of section 149 of the Act and Regulation 16(1)(b) of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015.
15. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
There were no significant material orders passed by the Regulators /
Courts which would impact the going concern status of the Company and its future
operations.
16. INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Company has an Internal Financial Control System, commensurate with
the size, scale and complexity of its operations. The Management evaluates the efficacy
and adequacy of internal control system in the Company, its compliance with operating
systems, accounting procedures and policies of the Company.
17. DEPOSITS FROM PUBLIC
The Company has neither invited nor accepted any deposits from the
public during the FY 2022-23. The Company does not intend to invite or accept any deposits
during FY 2023-24 as such no amount on account of principal or interest on deposit from
public was outstanding as on the date of the balance sheet.
18. SECRETARIAL AUDITOR AND AUDITORS REPORT
Pursuant to the provisions of Section 204 of the Act and the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has
appointed Mr. Shivaram Bhat, Company Secretary in Practice (ACS No. 10454, Certificate of
Practice No. 7853), to carry out the Secretarial Audit of the Company. The Report of the
Secretarial Auditor for FY 2022-23 is attached herewith as Annexure - B. There are no
qualifications, observations or adverse remarks or disclaimer in the said report. Pursuant
to Regulation 24A of Listing Regulations read with SEBI Circular No. CIR/CFD/CMD1/27/2019
dated February 08, 2019, the Secretarial Audit Report of Material unlisted Subsidiaries of
the Company namely Digisol Systems Limited and Synegra EMS Limited is annexed as Annexure
– C and Annexure – D respectively.
The Annual Secretarial Compliance Report of the Company is uploaded on
the website of the company at https://www.smartlinkholdings.com/wp-content/uploads/2023/05/Annual-Secretarial-Compliance-Report-31-03-2023.pdf
19. CORPORATE SOCIAL RESPONSIBILITY (CSR)
Pursuant to Section 135 of the Companies Act, 2013 read with rules made
thereunder, the Company has formulated a Corporate Social Responsibility Policy (‘CSR
Policy) indicating the activities to be undertaken by the Company, which has been
approved by the Board. The CSR Policy of the Company may be accessed on the Companys
website at https://www.smartlinkholdings.
com/wp-content/uploads/2020/03/3.-Corporate-Social-Responsibility-Policy.pdf Under Section
135 of the Act, the Company was required to spend INR 7.40 lakhs (2%) of the average
qualifying net profits of the last three financial years on CSR activities in the FY
2022-23. During the year under review the Company has spent INR 7.65 lakhs on CSR
activities. The Board of Directors at their meeting approved the same. The requisite
details on CSR activities pursuant to Section 135 of the Act and the Companies (Corporate
Social Responsibility Policy) Rules, 2014 are annexed as Annexure – H to this Report.
20. AUDIT COMMITTEE
The composition of the Audit Committee is in line with the provisions
of Section 177 of the Act read with Regulation 18 of SEBI Listing Regulations. The
Chairman of the Audit Committee is an Independent Director. The details of the composition
of the Audit Committee are given in the Corporate Governance Report which is part of this
report. During the year, all the recommendations of the Audit Committee were accepted by
the Board.
Further, in terms of section 177(8) of the Companies Act, 2013, it is
stated that there were no such instances where the Board of Directors have not accepted
the recommendations of the Audit Committee during the FY 2022-23.
21. ANNUAL EVALUATION OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL
DIRECTORS
The Company has devised a Policy for performance evaluation of the
Board, Committees and other individual Directors (including independent directors) which
includes criteria for performance evaluation of Non-Executive Directors and Executive
Directors. The evaluation process inter-alia considers attendance of the Directors at
Board and Committee meetings, effective participation, domain knowledge, compliance with
code of conduct, vision and strategy, etc.
Pursuant to the provisions of the Companies Act, 2013 and the Listing
Regulations, the Board has carried out an annual performance evaluation of its own
performance, the directors individually as well as the evaluation of the working of its
Audit, Nomination & Remuneration and other Committees.
a) Observations of board evaluation carried out for the year - There
were no observations in the Board Evaluation carried out during the financial year;
b) Previous years observations and actions taken - There were no
observations of the Board for the last financial year;
c) Proposed actions based on current year observations - Not
applicable.
The manner in which the evaluation has been carried out has been given
in the Corporate Governance Report.
22. NOMINATION AND REMUNERATION COMMITTEE
The Board has, on recommendation of the Nomination & Remuneration
Committee framed a policy for selection and appointment of Directors, Senior Management
and their remuneration. The details of Remuneration Policy are stated in the Corporate
Governance Report.
The Companys remuneration policy is driven by the success and
performance of the individual employees, senior management, Executive Directors of the
Company and other relevant factors including the following criteria:
a) The level and composition of remuneration is reasonable and
sufficient to attract, retain and motivate Directors of the quality required to run the
Company;
b) Relationship of remuneration to performance is clear and meets
appropriate performance industry benchmarks; and
c) Remuneration to Directors, Key Managerial Personnel and Senior
Management involves a balance between fixed and incentive pay reflecting short and
long-term performance objectives appropriate to the working of the Company and its goals.
It is affirmed that the remuneration paid to Directors, Key Managerial
Personnel and all other employees is as per the Remuneration Policy of the Company.
The composition of the Nomination and Remuneration Committee (NRC) is
in line with Section 178 of the Act read with Regulation 19 of SEBI Listing Regulations.
The details of meetings and their attendance are included in the Corporate Governance
Report.
23. STAKEHOLDERS RELATIONSHIP COMMITTEE
The composition of the Stakeholders Relationship Committee (SRC) is in
line with Section 178 of the Act read with Regulation 20 of SEBI Listing Regulations. The
details of the composition of the Stakeholders Relationship Committee are given in the
Corporate Governance Report which is part of this report.
24. VIGIL MECHANISM / WHISTLE BLOWER POLICY
Pursuant to the provisions of section 177 of the Companies Act, 2013
read with rules made thereunder, the Company has established a vigil mechanism for
Directors and employees to report genuine concerns about unethical behavior, actual or
suspected fraud or violation of code of conduct which provides for adequate safeguards
against victimization of director(s) / employee(s) and also provides for direct access to
the Chairman of the Audit committee in exceptional cases. The Audit Committee and the
Board of Directors have approved the Whistle Blower Policy and the details are available
on the website of the Company under the weblink
https://www.smartlinkholdings.com/wp-content/uploads/2020/03/Whistle-Blower-Policy-Final-2019.pdf.
During the year under review, the Company through Audit Committee has
not received any complaints relating to unethical behavior, actual or suspected fraud or
violation of companys code of conduct from any employee or director.
25. CORPORATE GOVERNANCE
As required under Schedule V of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the Report on Corporate Governance as well as
the Auditors Certificate regarding compliance of Conditions of Corporate Governance
forms a part of Annual Report as Annexure – E and Annexure – F respectively.
26. STATEMENT OF PARTICULARS OF APPOINTMENT AND REMUNERATION OF
MANAGERIAL PERSONNEL
The information required under section 197 of the Act read with Rule
5(1)(i) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014 in respect of employees of the Company and Directors is enclosed as Annexure – G
to this report.
27. DIS CLOSURES AS PER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND
REDRESSAL) ACT, 2013
As per provisions of Section 4 of the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013, your Company has constituted
an Internal Complaints Committee for redressal of complaints against sexual harassment.
There were no complaints relating to sexual harassment, pending at the beginning of
financial year, received during the year and pending as at the end of the FY 2022-23.
28. REPORTING OF FRAUDS
There have been no instances of fraud reported by the Auditors under
Section 143(12) of the Act and Rules framed thereunder either to the Company or to the
Central Government.
29. STATUTORY AUDITOR AND AUDIT REPORTS
M/s Shridhar & Associates, Chartered Accountants (having FRN
134427W) were appointed as Statutory Auditors of the Company for the period of four years
of the first term, commencing from Financial Year 2022-23. The Statutory Auditors have
given a confirmation to the effect that they are eligible to be appointed and not
disqualified from continuing as the Statutory Auditors. During the year under review, the
auditors have not reported any matter under Section 143(12) of the Companies Act, 2013.
The statutory auditors report does not contain any qualifications, reservations, or
adverse remarks or disclaimer.
30. COST AUDIT
During the relevant period for the purpose of Section 148 of the
Companies Act, 2013 read with the rules made thereunder, maintenance of cost records and
requirement of cost audit are not applicable for the business activities carried out by
the Company.
31. MANAGEMENT DISCUSSION AND ANALYSIS REPORT
The Management Discussion and Analysis including the result of
operations of the Company for the year, as required under Schedule V of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, is appended to the Annual
Report as Annexure - A.
32. DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) of the Act, the Board of Directors, to the
best of its knowledge and ability, hereby state and confirm that:
a) in the preparation of annual accounts for the financial year ended
March 31, 2023, the applicable accounting standards have been followed and that no
material departures have been made from the same;
b) appropriate accounting policies have been selected and applied
consistently and judgments and estimates have been made 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 the profit/loss of the Company for that period;
c) proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the Act, for safeguarding
the assets of the Company and for preventing and detecting frauds and other
irregularities;
d) the annual accounts have been prepared on a ‘going
concern basis;
e) proper internal financial controls were in place and that the
financial controls were adequate and were operating effectively; and
f) that systems to ensure compliance with the provisions of all
applicable laws were in place and were adequate and operating effectively.
33. INVESTOR EDUCATION AND PROTECTION FUND (IEPF)
a) Transfer of unclaimed dividend
P ursuant to the applicable provisions of the Companies Act, 2013, read
with IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (‘the
Rules), all unpaid and unclaimed dividend are required to be transferred to the IEPF
established by the Government of India, after completion of seven years. Accordingly,
Dividend of INR 1.42 lakhs for the FY 2014-15 which remained unpaid or unclaimed was
transferred to the IEPF Authority in the FY 2022-23.
b) Transfer of Shares to IEPF
According to the provisions of section 124 of the Companies Act, 2013
and Rules made thereunder, the shares on which dividend has not been paid or claimed by
shareholders for seven consecutive years or more shall be transferred to Demat account of
IEPF Authority. Accordingly, 6,507 shares were transferred as per the requirements of IEPF
Rules during FY 2022-23. The following table provides the details of unclaimed dividend
and their corresponding shares that would become due to be transferred to the IEPF on the
dates mentioned below:
| Financial Year Ended |
Date of declaration of dividend |
Last date for claiming unpaid dividend |
Due date for transfer to IEPF |
| 31.03.2017 |
12.08.2017 |
11.09.2024 |
10.10.2024 |
34. PREVENTION OF INSIDER TRADING
The Company has adopted a Code of Conduct for Prevention of Insider
Trading in compliance with SEBI (Prohibition & Insider Trading) Regulation, 2015 duly
amended and approved at its board meeting with a view to regulate trading in securities by
the designated persons of the Company.
35. SECRETARIAL STANDARDS
The Institute of Company Secretaries of India has currently mandated
compliance with the Secretarial Standards on board meetings and general meetings. During
the year under review, the Company has complied with the applicable Secretarial Standards.
36. GREEN INITIATIVE
As part of our green initiative, the electronic copies of this Annual
Report including the Notice of the 30th AGM are sent to all members whose email
addresses are registered with the Company / Registrar / Depository Participant(s). The
Company welcomes and supports the ‘Green Initiative undertaken by the Ministry
of Corporate Affairs, Government of India, enabling electronic delivery of documents
including the Annual Report, quarterly and half-yearly results, amongst others, to
Shareholders at their e-mail address previously registered with the DPs and RTA.
The requirement of sending physical copies of Annual Report to those
shareholders who have not registered their email addresses is dispensed with for Listed
Entities who would be conducting their AGMs upto September 30, 2023 vide SEBI circular
SEBI/HO/CFD/PoD-2/P/CIR/2023/4 dated January 05, 2023. In this respect the physical copies
are not being sent to the shareholders. The copy of the same would be available on the
website of the Company at www.smartlinkholdings.com. However, the Shareholders of the
Company may request physical copy of the Notice and Annual Report from the Company by
sending a request at company.secretary@smartlinkholdings.com in case they wish to obtain
the same. The Company is providing e-voting facility to all its members to enable them to
cast their votes electronically on all resolutions set forth in the Notice. This is
pursuant to Section 108 of the Companies Act, 2013 and Rule 20 of the Companies
(Management and Administration) Rules, 2014. The instructions for e-voting are provided in
the Notice.
37. ACKNOWLEDGEMENT
The Directors wish to convey their deep appreciation to all the
customers, vendors, dealers, distributors, resellers, bankers, investors, Goa Industrial
Development Corporation, State Industries, Electricity and other Government departments
for their sincere and dedicated services as well as their collective contribution to the
Companys performance.
The Directors also take this opportunity to thank the employees for
their dedicated service throughout the year.
| For and on behalf of the Board of Directors |
|
| K. R. Naik |
Arati Naik |
| Executive Chairman |
Executive Director |
| DIN: 00002013 |
DIN: 06965985 |
| Place: Mumbai |
Place: Mumbai |
| Date: May 17, 2023 |
Date: May 17, 2023 |
+91-9892691696
