The outbreak of the COVID-19 pandemic in the last quarter of 2019-20 and the measures adopted by governments in countries worldwide to mitigate the pandemic’s spread have significantly impacted the business and people lives. 2020 witnessed unprecedented disruptions in the lives and livelihoods of millions of people in India and across the world. There were partial and full lockdowns announced by the Government at different stages and time. Therefore, Management immediately took steps for safety measures of employees and work from home facilities was provided to the employees.
During the first quarter of Financial Year 2020- 21, when the economy has begun to show growth in several core sectors, India has seen re- surge in Covid cases more particularly as ‘second wave’ which has again impacted lives people in drastic manner and as well as on economy.
There is uncertainty over how the outbreak will impact the business in future period.
The Company has adequate internal controls commensurate to the size of the Company.
Significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and Company’s operations in future:
There are no significant and material orders passed by the Regulators or Courts or Tribunals which may impact the going concern status and Company’s operations in future.
Disclosure under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013:
The Company has in place an Anti -Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013. All employees are covered under this policy and during the year no complaints have been received from them.
Risk Management Policy and Identification of Key Risks:
The Management of the Company has framed risk management policy and identified the key risks to the business and its existence. There are no risks identified that may threaten the existence of the Company.
Maintenance of Cost Records:
The Central Government has not specified maintenance of cost records, for any of the products of the Company, under Section 148(1) of the Act.
Your directors wish to express their grateful appreciation to the continued co-operation received from the Banks, Government Authorities, Customers, Vendors and Shareholders during the year under review. Your directors also wish to place on record their deep sense of appreciation for the committed service of the Executives, Staff and Workers of the Company.