sunitee chemicals ltd share price Directors report

Your Directors present their Twenty Fourth report together with the Audited Financial Statement of your Company for the year ended 31st March, 2016.

Financial Highlights:

(Amount in Rs.)

Particulars	2015-2016	2014-2015
Total Income	523631	6109755
Total expenditure	490061	14245082
Profit before Taxation	33570	(8135327)
Provision for Tax	6400	00
Add: Deferred Tax Liability Reversal	00	00
Profit after Taxation	27170	(8135327)

Dividend & Reserve

No Dividend was declared for the current financial year due to loss incurred by the Company.

Transfer of Unclaimed Dividend to Investor Education and Protection Fund

Since there was no unpaid/unclaimed Dividend declared and paid last year, the provisions of Section 125 of the Companies Act, 2013 do not apply.

Share Capital

During the year under the review there is no change in the Issues, Subscribe and Paid up Share Capital for the company.

Employee Stock Options Scheme

During the year under the review the company has not issued any Shares pursuant to the Employee Stock Options Scheme.

Holding Company / Subsidiary Company

During the year under the review the company didnt have any Holding Company, Subsidiary, Associate and Joint Venture Company.

REPORT ON CORPORATE GOVERNANCE & MANAGEMENT DISCUSSION & ANALYSIS:

Pursuant to Regulation 34(3) read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Company has taken adequate steps to ensure that all mandatory provisions of Corporate Governance as prescribed under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are complied with, a separate section titled Report on Corporate Governance together with a Certificate from the Practicing Company Secretary forms part of this Report.

A detailed Management Discussion & Analysis forms part of this Report.

Environment Protection

The Company is doing only the trading activities. It does not generate any Water or Air Pollution. Hence, the law and regulations relating to the Pollution Control and Environment Protection are not applicable to the Company.

Corporate Social Responsibility (CSR)

The Company has not developed and implemented any Corporate Social Responsibility initiatives as the said provisions are not applicable.

Directors and Key Managerial Personnel

Mr. Dhaval Solanki (DIN: 02127298) and Mr. Sagar Soni (DIN: 07047446) Director of the Company are retires by rotation at the ensuing Annual General Meeting and being eligible, offer himself for reappointment.

Ms. Nupoor Mandowara was appointed as the Company Secretary of the Company with effect from November 10, 2015 and Ms. Nupoor resigned from the post of Company Secretary with effect from December 14, 2015.

Board Evaluation

Pursuant to the provisions of the Companies Act, 2013 and SEBI (LODR) Regulation, 2015, evaluation of every Directors performance was done by Nomination and Remuneration Committee. The performance evaluation of Non-Independent Directors and the Board as a whole, Committees thereof and Chairperson of the Company was carried out by the Independent Directors. Evaluation of Independent Directors was carried out by the entire Board of Directors, excluding the Director being evaluated. A structured questionnaire was prepared after circulating the draft forms, covering various aspects of the evaluation such as adequacy of the size and composition of the Board and Committee thereof with regard to skill, experience, independence, diversity; attendance and adequacy of time given by the Directors to discharge their duties; Corporate Governance practices etc. The Directors expressed their satisfaction with the evaluation process. The details of familiarisation programme for Independent Directors have been disclosed on website of the Company.

Declaration of Independent Directors

The Independent Directors have submitted their disclosures to the Board that they fulfill all the requirements as stipulated in Section 149(6) of the Companies Act, 2013 so as to qualify themselves to be appointed as Independent Directors under the provisions of the Companies Act, 2013 and the relevant rules.

Meetings

A calendar of Meetings is prepared and circulated in advance to the Directors. A total of Six Board Meetings were held during the year 2015-2016 on the following dates: April 09, 2015, May 19, 2015, August 13, 2015, September 04, 2015, November 11, 2015 and February 02, 2016. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013 and the SEBI (LODR) Regulation, 2015.

Performance Evaluation of Independent Directors

The Board has formulated a questionnaire for performance Evaluation of Independent Directors. The questionnaire has among others basically captured the following points:

• Key attributes of the Independent Director

• Level and quality of participation in the Board and Committee Meetings

• Inputs provided by the Independent Director based on his knowledge, skills and experience

• Independence in Judgment

• Knowledge of Companys Business.

Separate Meeting of the Independent Directors

The Independent Directors held a Meeting on February 02, 2016 without the attendance of Non-Independent Directors and Members of Management. All the Independent Directors were present at such meeting and at the Meeting they have: i. Reviewed the performance of non-independent directors and the Board as a whole; ii. Assessed the quality, quantity and timelines 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 Present Independent Directors holds a unanimous opinion that the Non-Independent Directors bring to the Board constructive knowledge in their respective field. All the Directors effectively participate and interact in the Meeting. The information flow between the Companys Management and the Board is satisfactory.

Training of Independent Directors

The company shall provide suitable training to independent directors to familiarize them with the company, their roles, rights, responsibilities in the company, nature of the industry in which the company operates, business model of the company, etc.

Directors Responsibility Statement

The Directors Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, shall state that:

a) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation by way of notes to accounts relating to material departures;

b) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 or loss of the Company for that period;

c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

e) Directors have prepared the accounts on a "going concern basis".

f) 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.

Internal Financial Controls

The Company has in place adequate internal financial controls with reference to the financial statements. The Audit Committee of the Board periodically reviews the internal control systems with the management, Internal Auditors and Statutory Auditors and the adequacy of internal audit function, significant internal audit findings and follow-ups thereon.

Composition of Audit Committee

In compliance with the provisions of Section 177 of the Companies Act, 2013, the Company has constituted a Committee of the Board of Directors knows as the Audit Committee which comprises Mr. Sagar Soni, Managing Director and Mr. Rajeshbhai Desai and Mr. Shailesh Kumar Gupta. Mr. Rajeshbhai Desai was appointed as Chairman of the Committee.

All members of the Audit Committee possess strong knowledge of accounting and financial management. Financial Controller, the Internal Auditors and Statutory Auditors are regularly invited to attend the Audit Committee Meetings. The Internal Auditor reports to the Chairman of the Audit Committee. The significant audit observations and corrective action taken by the management are presented to the Audit Committee.The Board has accepted all recommendations, if any, of the Audit Committee made from time to time.

Vigil mechanism / Whistle Blower Mechanism

The Company has established a vigil mechanism by adopting a Whistle Blower Policy for Directors and employees to report genuine concerns in the prescribed manner. The vigil mechanism is overseen by theAudit Committee and provides adequate safeguards against victimization of employees and Directors. Whistle Blower Policy is a mechanism to address any complaint(s) related to fraudulent transactions or reporting intentional non-compliance with the Companys policies and procedures and anyother questionable accounting/operational process followed.

It provides a mechanism for employees to approach the Chairman of Audit Committee or Chairman of the Company or the Corporate Governance Cell. During the year, no such incidence was reported and no personnel were denied access to the Chairman of the Audit Committee or Chairman of the Company or the Corporate Governance Cell. The Whistle Blower Policy of the Company is available at website of the company.

Risk Management

The Company has in place the procedure to inform the Board about the risk assessment and minimization procedures. Your Company has appropriate risk management systems in place for identification and assessment of risks, measures to mitigate them, and mechanisms for their proper and timely monitoring and reporting. Audit Committee has been assigned the task of ensuring Risk Management, for monitoring andreviewing of the risk assessment, mitigation and risk management plan from time to time. The Board periodically reviews implementation and monitoring of the risk management plan for the Company including identification therein of elements of risks, if any, which in the opinion of the Board may threaten the existence of the Company.

Auditors and Auditors Report

M/S. DHVANISH SHAH & ASSOCIATES, CHARTERED ACCOUNTANTS, AHMEDABAD (FRN 139838W), in respect of whom the company has received a Special Notice under section 140(4) of the Act, proposing their appointment in the place of retiring auditors M/s. Anam & Associates, Chartered Accountants, Baroda and hold office until the conclusion of the ensuing Annual General Meeting and are eligible for reappointment.

The notes of the financial statements 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 or adverse remark.

Secretarial Audit and Secretarial Auditors Report

Pursuant to provisions of section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the Company has appointed M/s. Rathod Jankiben & Associates, Company Secretaries in practice to undertake the Secretarial Audit of the Company. The Secretarial Audit report in the prescribed Form No MR-3 is annexed herewith.

Qualification in Secretarial Audit Report and Explanations by the Board

Certain event based E Forms have not been filed by the company in time which were required to be filed with ROC during the audit period.

• The company will take necessary steps to comply with the same.

The company has not published Notice of Board Meeting, Notice of AGM, quarterly results.

• The company will take necessary steps to comply with the same.

Particulars of loans, guarantees or investments under Section 186 of the Companies Act, 2013

There was no guarantees given or security provided or investments made by the Company under Section 186 of the Companies Act, 2013 during the year under review. Particulars of loans given are provided in the financial statement (Please refer to Note no. 8 to the financial statement). All the loans were given the purpose of business of the recipients.

Contracts and Arrangements with Related Parties

There was no contract or arrangements made with related parties as defined under Section 188 of the Companies Act, 2013 during the year under review.

Particulars of Remuneration of Employees and Other Required Disclosures

No Directors/ Key Managerial Personnel are drawing any remuneration. Hence, the information required pursuant to Section 197 read with Rule 5 (1) (i) of The Companies (Appointment and Remuneration) Rules, 2014 in respect of ratio of remuneration of each director to the median remuneration of the employees of the Company for the Financial year is not given.

Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo

The provisions of Section 134(m) of the Companies Act, 2013 do not apply to our Company. There was no foreign exchange inflow or Outflow during the year under review.

Extract of Annual Return

The details forming part of the Extract of the Annual Return in Form MGT-9, as required under Section 92 of the Companies Act, 2013 is included in this Report and forms part of this Report.

General

During the year under review, no revision was made in the financial statement of the Company. During the year ended March 31, 2016, there were no cases filed / reported pursuant to the Sexual Harassment of women at workplace (Prevention, Prohibition and Redressal) Act, 2013.

No penalties/strictures were imposed on the Company by Stock Exchanges or SEBI or any statutory authority on any matter related to capital market since the listing of the Companys equity shares. No significant or material orders were passed by the Regulators or Courts or Tribunals which impact the going concern status and Companys operation in future.

Cautionary statement

Certain statements in the Directors Report 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 from those expressed or implied. Important factors that could make a difference to the Companys operations include labour and material availability, and prices, cyclical demand and pricing in the Companys principal markets, changes in government regulations, tax regimes, economic development within India and other incidental factors.

Acknowledgment

The Directors would like to thank all shareholders, customers, bankers, contractors, suppliers and associates of your Company for the support received from them during the year. The Directors would also like to place on record their appreciation of the dedicated efforts put in by the employees of the Company.

	For and on Behalf of the Board
	For, SUNITEE CHEMICALS LIMITED
	SAGAR SONI	RAJESHBHAI DESAI
Date: 13.08.2016	CHAIRMAN & MANAGING DIRECTOR	DIRECTOR
Place: AHMEDABAD	DIN: 07047446	DIN: 07047426

Annexure to Director Report

Form No. MR-3

SECRETARIAL AUDIT REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2016

[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies

(Appointment and Remuneration Personnel) Rules, 2014]

To,

The Members,

SUNITEE CHEMICALS LIMITED

Ahmedabad

We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by M/s. SUNITEE CHEMICALS LIMITED (hereinafter called the company). Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing our opinion thereon.

Based on our verification of the Companys books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, We hereby report that in our opinion, the Company has, during the audit period covering the financial year ended on March 31, 2016 complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year ended on March 31, 2016 according to the provisions of: i) The Companies Act, 2013 and the rules made thereunder; ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA) and the rules made there under; iii) The Depositories Act, 1996 and the Regulations and Bye-law framed hereunder; iv) Foreign Exchange Management Act, 1999 and the rules and regulations made there under;

v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act):• a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011; b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992 (upto 14th May 2015) and Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 (effective 15th May 2015); c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 • Not applicable as the Company has not issued any shares during the year under review; d) The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 / Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 (effective 28th October 2014) • Not applicable as the Company has not issued any shares/options to directors/employees under the said guidelines / regulations during the year under review;

e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008

• Not applicable as the Company has not issued any debt securities which were listed during the year under review;

f) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with client; • Not applicable as the Company is not registered as Registrar to Issue and Share Transfer Agent during the year under review;

g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 – Not applicable as the Company has not delisted / propose to delist its equity shares from any Stock Exchange during the year under review; and

h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 – No applicable as the Company has not bought back or propose to buy-back any of its securities during the year under review. vi) Based on representation made by the Company and its officers, the Company has adequate system and process in place for compliance under the other applicable Laws, Acts, Rules, Regulations, Circulars, Guidelines and Standards.

We have also examined compliance with the applicable clauses of the following:

(i) Secretarial Standards with respect to Meetings of Board of Directors (SS-1) and General Meetings (SS-2) issued by The Institute of Company Secretaries of India and made effective 1st July, 2015).

(ii) The Listing Agreement entered into by the Company with Stock Exchange and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (effective 1st December, 2015).

We further report that We have not reviewed the applicable financial laws, direct and indirect tax laws since the same have been subject to review and audit by the Statutory Auditors of the company.

During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above above subject to the following qualifications:

• The company has not complied with certain regulation of SEBI (LODR) Regulations, 2015 as regards publication of Notice of Board Meeting, Notice of AGM, quarterly results.

• Certain event based E Forms have not been filed by the company in time which were required to be filed with ROC during the audit period.

We further report that the Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act.

As per the information received from the company Adequate notice is given to all the directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting. Majority decision is carried through while the dissenting members views are captured and recorded as part of the minutes.

We further report that there are adequate systems and processes in the company commensurate with the size and operations of the company to monitor and ensure compliance with applicable Laws, Rules, Regulations and guidelines. We further report that during the audit period the Company has not passed any Special / Ordinary Resolutions which are having major bearing on the Companys affairs in pursuance of the above referred laws, rules, regulations, guidelines, standards etc.

We further report that during the audit period, there were no instances of:

1. Public/Rights/Preferential issue of Shares/debentures/ sweat equity.

2. Redemption/buy-back of securities.

3. Merger/ amalgamation/ reconstruction etc.

4. Foreign technical collaborations.

We further report that during the audit period no prosecution initiated against the Company and the company has also not received any show cause notice during the year.

	For, Rathod Jankiben & Associates
	Company Secretaries
	[Jankiben Sisodiya]
PLACE: ANAND DATE: 13.08.2016	Partner
	ACS No: 36702
	C. P. NO.: 13728

This report is to be read with our letter of even date which is annexed as Annexure-A and forms an integral part of this report.

ANNEXURE-A

To,

The Members,

SUNITEE CHEMICALS LIMITED

Ahmedabad

Our report of even date is to be read along with this letter.

1. Maintenance of secretarial records is the responsibility of management of the company. Our responsibility is to express an opinion on these secretarial records based on our audit.

2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in secretarial records. We believe that the processes and practices, We followed provide a reasonable basis for our opinion.

3. We have not verified the correctness and appropriateness of financial records and books of accounts of the company.

4. Wherever required, We have obtained the Management Representation about the compliance of laws, rules and regulations and happening of events, etc.

5. The compliance of the provisions of corporate and other applicable laws, rules and regulations, standards is the responsibility of the management. Our examination was limited to the verification of procedures on test basis.

6. The Secretarial Audit Report is neither an assurance as to the future viability of the company nor of the efficacy or effectiveness with which the management has conducted the affairs of the company.

	For, Rathod Jankiben & Associates
	Company Secretaries
	[Jankiben Sisodiya]
PLACE: ANAND DATE: 13.08.2016	Partner
	ACS No: 36702
	C. P. NO.: 13728

Annexure to Director Report

Form No. MGT-9

EXTRACT OF ANNUAL RETURN As on the financial year ended on 31st March, 2016

[Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014]

I REGISTRATION AND OTHER DETAILS:

CIN	L24110GJ1992PLC017164
Registration Date	25/02/1992
Name of the Company	SUNITEE CHEMICALS LIMITED
Category / Sub-Category of the Company	Public Company Limited by Shares
Address of the Registered office and contact	24, LAXMI CHAMBERS, NAVJEEVAN PRESS ROAD, OPP. OLD GUJARAT
details	HIGH COURT, AHMEDABAD-380014, GUJARAT, INDIA.
	Tel. : 079 – 55300551 E mail: sunitteechemicals@rediffmail.com
Whether listed company	Yes
Name, Address and Contact details of	Purva Sharegistry (India) Pvt. Ltd.
Registrar and Transfer Agent, if any	No-9, Shiv Shakti Industrial Estate, Ground Floor, J.R.Borich Marg, Opp.
	Kasturba Hospital, Lower Parel, Mumbai • 400011.
	Email : busicomp@vsnl.com
	Phone : 022 2301 6761/ 022 2301 8261
	Fax : 040-2300 1153 Toll Free No. : 1800 345 4001

II PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:

All the business activities contributing 10 % or more of the total turnover of the company shall be stated:•

Sr. No.	Name and Description of main products/ services	NIC Code of the Product/ service	% to total turnover of the company
01	Interest Income	661	100

III PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:

Sr. No.	Name & Address of the Company	CIN/GLN	HOLDING/ SUBSIDIARY/ ASSOCIATE	% OF SHARES HELD	APPLICABLE SECTION
			NA

IV SHARE HOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL EQUITY): i) Category-wise Share Holding pattern:•

Category of Shareholders	No. of Shares held at the beginning of the year as on 01.04.2015				No. of Shares held at the end of the year as on 31.03.2016				%
	Demat	Physical	Total	% of Total Shares	Demat	Physical	Total	% of Total Shares	Change during the year
A) Promoters
1. Indian
(a) Individual/	1487360	-	1487360	2.86	1487360	-	1487360	2.86	-
HUF
2. Foreign	-	-	-	-	-	-	-	-	-
Total shareholding of Promoter (A) = 1+2	1487360	-	1487360	2.86	1487360	-	1487360	2.86	-
B. Public
Shareholding
1. Institutions	-	-	-	-	-	-	-	-	-
2. Non-Institutions
a) Bodies	2424409	-	2424409	4.66	2270003	-	2270003	4.37	(0.29)
Corporate
b) Individuals
i) Individual shareholders holding nominal share capital up to Rs. 1 Lakh	18322117	252800	18574917	35.72	23015675	315800	23331475	44.87	9.15
ii) Individual shareholders holding nominal share capital in excess of Rs 1 lakh	27272793	130000	27402793	52.70	22736675	68000	22804675	43.85	(8.85)
c) Others (specify)
Clearing Members	2000	-	2000	0.00	5000	-	5000	0.01	0.01
Trusts	5000	-	5000	0.01	5000	-	5000	0.01	-
NRI	142295	-	142295	0.27	115501	-	115501	0.22	(0.05)
HUF	1962226	-	1962226	3.77	1981986	-	1981986	3.81	0.04
B) = (B) (1) + (B) (2) + c	50130840	382800	50513640	97.14	50129840	383800	50513640	97.14	-
C. Shares held by	-	-	-	-	-	-	-	-	-
Custodian for
GDRs & ADRs
Grand Total (A+B+C)	51618200	382800	52001000	100	51617200	383800	52001000	100	-

ii Shareholding of Promoters:•

Sl. No.	Shareholders Name	Shareholding at the beginning of the year			Shareholding at the end of the Year
		No. of Shares	% of total Shares of the Company	% of Shares Pledged/ encumbered to total shares	No. of Shares	% of total Shares of The Company	% of Shares Pledged / encumbered to total shares	% change in share holding During the year
01	Brijmohan Liladhar Saraf	1487360	2.86	-	1487360	2.86	-	-
	Total	1487360	2.86	-	1487360	2.86	-	-

iii CHANGE IN PROMOTERS SHAREHOLDING (SPECIFY IF THERE IS NO CHANGE):• There is no change in the shareholding of promoter between 01-04-2015 to 31-03-2016.

(iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters & Holders of GDRs & ADRs):

Sl. No.	Shareholders Name	Shareholding at the beginning of the year 01.04.2015		Cumulative Shareholding during the year 31.03.2016
		No. of Shares	% of total Shares of The Company	No. of Shares	% of total Shares of The Company
1	NEHAL RAJNIKANT CHANDURA
	Opening Balance	1650000	3.17
	Shares Bought during the period			0	0.00
	Shares sold during the period			0	0.00
	Closing Balance			1650000	3.17
2	ANKIT JAIN
	Opening Balance	1200000	2.31
	Shares Bought during the period			0	0.00
	Shares sold during the period			0	0.00
	Closing Balance			1200000	2.31
3	JAI PRAKASH WASWANI
	Opening Balance	1000000	1.92
	Shares Bought during the period			0	0.00
	Shares sold during the period			0	0.00
	Closing Balance			1000000	1.92
4	BHANU GUPTA
	Opening Balance	889919	1.71
	Shares Bought during the period			0	0.00
	Shares sold during the period			0	0.00
	Closing Balance			889919	1.71
5	MANISH PATIDAR
	Opening Balance	700000	1.35
	Shares Bought during the period			0	0.00
	Shares sold during the period			0	0.00
	Closing Balance			700000	1.35
6	POOJA NEHAL CHANDURA
	Opening Balance	500000	0.96
	Shares Bought during the period			0	0.00
	Shares sold during the period			0	0.00
	Closing Balance			500000	0.96
7	DAKSHA MAHAJAY PATANI
	Opening Balance	470000	0.90
	Shares Bought during the period			0	0.00
	Shares sold during the period			0	0.00
	Closing Balance			470000	0.90
8	MANOJ K SINGH
	Opening Balance	464726	0.89
	Shares Bought during the period			0	0.00
	Shares sold during the period			0	0.00
	Closing Balance			464726	0.89
9	MONU PATIDAR
	Opening Balance	371000	0.71
	Shares Bought during the period			0	0.00
	Shares sold during the period			0	0.00
	Closing Balance			371000	0.71
10	PREMLATA PATIDAR
	Opening Balance	500000	0.96
	Shares Bought during the period			0	0.00
	Shares sold during the period			0	0.00
	Closing Balance			500000	0.96

(v) Shareholding of Directors and Key Managerial Personnel: None of the director and key Managerial personnel holds any shares in the company.

V. INDEBTEDNESS:

Indebtedness of the Company including interest outstanding/accrued but not due for payment

Secured Loans excluding deposits	Secured Loans excluding deposits	Unsecured Loans	Deposits	Total Indebtedness
Indebtness at the beginning of the financial year
i) Principal Amount	00	00	00	00
ii) Interest due but not paid	00	00	00	00
iii) Interest accrued but not due	00	00	00	00
Total (i+ii+iii)	00	00	00	00
Change in Indebtedness during the financial year
Additions	00	00	00	00
Reduction	00	00	00	00
Net Change	00	00	00	00
Indebtness at the end of the financial	year
i) Principal Amount	00	00	00	00
ii) Interest due but not paid	00	00	00	00
iii) Interest accrued but not due	00	00	00	00
Total (i+ii+iii)	00	00	00	00

VI REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

A. REMUNERATION TO MANAGING DIRECTOR, WHOLE-TIME DIRECTORS AND/OR MANAGER: NIL

Dhaval Solanki• Managing Director and Sagar Soni• Managing Director & CFO

B. REMUNERATION TO OTHER DIRECTORS NIL C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD NIL

VII PENALTIES/PUNISHMENT/COMPOUNDING OF OFFENCES:

Type	Section of the Companies Act	Brief Description	Details of Penalty/ Punishment/ Compounding Fees imposed	Authority (RD/NCLT/ Court)	Appeal made, if any (give details)
A. Company
Penalty
Punishment			NONE
Compounding
B. Directors
Penalty
Punishment			NONE
Compounding
C. Other officers	in default
Penalty
Punishment			NONE
Compounding

 

Date: 13.08.2016	For and on Behalf of the Board
Place: AHMEDABAD	For, SUNITEE CHEMICALS LIMITED
SAGAR SONI	RAJESHBHAI DESAI
CHAIRMAN & MANAGING DIRECTOR	DIRECTOR
DIN: 07047446	DIN: 07047426