MANAGEMENT DISCUSSION AND ANALYSIS
1. INDUSTRY STRUCTURE AND DEVELOPMENT:
Due to the direction of the Gujarat High Court Dt. 23rd September, 2021, the Ahmedabad Municipal Corporation (AMC) has disconnected water and drainage connection of the company. Hence, the operations of the company are dosed with effective from 261 November, 2021 due to commercial unviability. The company has not carried on any new business during the year under review.
2. OPPORTUNITIES AND THREATS:
As the operation of the company had been stopped, the management of the company is also evaluating various options including starting new line of business and shall inform shareholders regarding the same as and when a decision is arrived at. Considering the present condition of the Company, there is no threats to company.
The Company had discontinued its operation and Net-worth for the period under review was negative.
3. INTERNAL CONTROL SYSTEMS:
The Company has an adequate internal control system commensurate with the size of the Company.
4. HUMAN RESOURCES:
Employee relations continued to be cordial. Further during the year, the Company reached a compensation settlement with majority of the permanent employees of the Company through a Voluntary Retirement Scheme. The Company recognizes the key role played by the people and we would like to thank each and every member of the Soma Textiles family for their role and contribution towards the company over the years.
5. CAUTIONARY STATEMENT
Certain statements in the "Management Discussion and Analysis" section may be forward looking and are stated as required by applicable laws and regulations. Many factors may affect the actual results, which could be different from what the Directors envisage in terms of future performance and outlook.
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.