During the year under review, your Company has not recorded any operational income. As you are aware those during the year under review, your Company was engaged in the business areas of marketing, distributing, and trading of lifestyle products and due to various factors the Company is not able to carry out its business activities effectively. Hence, your Company has opted for complete diversification its business operations by venturing into biotechnology and/or pro-biotic sector by passing a special resolution on 2nd August 2017.
CORPORATE GOVERNANCE REPORT:
During the year under review, the paid-up equity share capital and net worth of the Company is not exceeding Rs. 10 Crores and 25 Crores respectively. Hence, the provisions of Para C, D & E of Schedule V of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, are not applicable to the Company.
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 annexed herewith as Annexure II to this report.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS:
None of the orders passed by the Any Regulator / Courts which would impact the future operations / going concern status of the Company.
Your Directors take this opportunity to record their appreciation for the continuous support and co-operation extended by the customers and bankers. The Directors also acknowledge the confidence reposed by the investors and shareholders in the Company.
|By Order of the Board|
|Hyderabad, 16th August 2017||Sd/-|
|K Ratnakara Rao|
|Chairman of the Meeting|