Tulasee Bio Ethanol Ltd Management Discussions.
1. INDUSTRY STRUCTURE & DEVELOPMENT
The chemical industry did perform well. However, the Company has started its operation Afresh and need to work on many areas to re-gain its position in the competitive market.
2. SEGMENT WISE OF PRODUCT WISE PERFORMANCE
The company has is planning afresh to make optimum utilization of its resources and expected to turn around its resources will to get right opportunity.
Looking promising on the coming years and would like to perform up to the mark.
4. OPPORTUNITIES, THREATS AND FUTURE OUTLOOK
There is no doubt that Chemical Industry has a bright future and the country has a potential to become leader in the steel sector. The axis of growth is gradually shifting from the developed economies to developing economies in Asia. India is well placed to meet future growing demand because of its high competitiveness.
5. RISK AND CONCERN
In view of the Company having not undertaken any activity, the risk & concern factor has not been of much significance.
6. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Company has clearly laid down policies, guidelines and procedures that form a part of the internal control systems.
7. FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONS, ETC
There have been not been much operations during the year.
8. MATERIAL DEVELOPMENT IN HUMAN RESOURCE:
Since the Company was not in operation, there were not much human resources required during the year.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
|Kapil Lalitkumar Nagpal||Kritika Nagpal Lalit|
|Date: 25th May, 2019||Managing Director||Director|
|Place: Mumbai||DIN:01929335||DIN: 00020901|
EXECUTIVE DIRECTOR AND CFO CERTIFICATION
I the undersigned, in my capacity as Executive Director of Tulasee Bio-Ethanol Limited ("the Company") to the best of my knowledge and belief certify that:
a. We have reviewed financial statements and the cash flow statement for the financial year ended 31st March, 2019 and that to the best of our knowledge and belief, we state that:
i. these statements do not contain any materially untrue statement or omit any material fact or contain any statements that might be misleading;
ii. these statements together present a true and fair view of the Companys affairs and are in compliance with existing accounting standards, applicable laws and regulations.
b. We further state that to the best of our knowledge and belief, there are no transactions entered into by the Company during the year, which are fraudulent, illegal or violative of the Companys Code of Conduct.
c. We hereby declare that all the members of the Board of Directors and Executive Committee have confirmed compliance with the Code of Conduct as adopted by the Company.
d. We are responsible for establishing and maintaining internal controls for financial reporting and that we have evaluated the effectiveness of internal control systems of the Company pertaining to financial reporting of the Company and have disclosed to the Auditors and Audit Committee, deficiencies in the design or operation of internal controls, if any, of which we are aware and the steps we have taken or proposed to take to rectify these deficiencies.
e. We have indicated, based in our most recent evaluation, wherever applicable, to the Auditors and the Audit Committee:
i. significant changes, if any, in internal control over financial reporting during the year;
ii. significant changes, if any, in the accounting policies during the year and that the same has been disclosed in the notes to the financial statements; and
iii. instances of significant fraud of which we have become aware and the involvement therein, if any, of the management or an employee having significant role in the Companys internal control system over the financial reporting.
FOR AND ON BEHALF OF TULASEE BIO-ETHANOL LIMITED
Kapil Lalitkumar Nagpal