To The Members of Viaan Industries Limited
Your Directors are hereby to present at the 38th Annual Report on the
Business and operations of the Company together with the Audited Statement of Accounts for
the year ended 31st March, 2021.
COVID-19 PANDEMIC:
The COVID-19 pandemic has caused disruption creating an unprecedented impact on the
financial wellbeing of nations, corporations and individuals. A detailed discussion on
impact of COVID-19 on the operations of the Company is covered in the ‘Management
Discussion and Analysis.
CIRCULATION OF ANNUAL REPORTS IN ELECTRONIC FORM:
In view of the prevailing COVID-19 situation and consequent lockdown across the
country, the Ministry of Corporate Affairs (MCA) has exempted companies from circulation
of physical copies of Annual Report for FY 2020 - 2021. Accordingly, the Annual Report of
the Company for F.Y 2020 - 2021 is being sent only by email to the members, and all other
persons/entities entitled to receive the same. This Annual Report, along with other
documents, is also available on the Company’s website at www.v-ind.com
FINANCIAL RESULT:
The Company is into development of mobile based game applications, production of OTT
platform & trading activities in commodities; metals; electronics items & has
business activities in India during the F.Y 2020 - 2021.
The subsidiary of the Company based in Dubai, named, Viaan Industries DMCC, has stopped
its business operation due to non-viable business. The Viaan Industries DMCC has been
Liquidated during the F.Y 2020 - 2021.
The Company has suffered a loss of Rs. 166.40 lakh on standalone basis during the year
compared to loss of Rs. 2501.06 Lakh during F.Y 2019 - 2020. The Company has not
consolidated the financial statement of the Company with Viaan Industries DMCC due to
it’s liquidation.
The financial performance of your Company for the year ended March 31, 2021 is
summarized below
|
|
(Amount in Lakh) |
| Particulars |
2020 - 2021 |
2019 - 2020 |
| Revenue from Operations |
357.89 |
1161.23 |
| Other Income |
20.39 |
26.08 |
| Total Income |
378.28 |
1187.31 |
| Total Expenses |
534.41 |
3688.37 |
| Profit/(Loss) |
-156.13 |
-2501.06 |
| (-) Exceptional Items |
0.00 |
0.00 |
| Profit/(Loss)Before Tax |
-156.13 |
-2501.06 |
| Tax |
|
|
| (-) Current Tax |
0.00 |
0.00 |
| (-) Deferred Tax |
-10.27 |
0.00 |
| Net Profit After Tax |
-166.40 |
-2501.06 |
| (-) Extraordinary Items |
0.00 |
0.00 |
| Net Profit |
-166.40 |
-2501.06 |
DIVIDEND:
During the year your directors do not recommend any dividend due to loss incurred by
the Company.
UNPAID / UNCLAIMED DIVIDENDS:
In accordance with the provisions of Sections 124 and 125 of Companies Act, 2013 and
Investor Education and Protection Fund (Accounting, Audit, Transfer and Refund) Rules,
2016 (IEPF Rules) dividends not encashed / claimed within seven years from the date of
declaration are to be transferred to the Investor Education and Protection Fund (IEPF)
Authority.
The IEPF Rules mandate Companies to transfer shares of Members whose dividends remain
unpaid / unclaimed for a continuous period of seven years to the demat account of IEPF
Authority. The Members whose dividend / shares are transferred to the IEPF Authority can
claim their shares / dividend from the Authority. In accordance with the said IEPF Rules
and its amendments, the Company had sent notices to all the Shareholders whose shares were
due to be transferred to the IEPF Authority and simultaneously published newspaper
advertisement.
COMPLIANCE:
The Compliance Department of the Company is continued to play a pivotal role in
ensuring implementation of compliance functions in accordance with the directives issued
by regulators, the Company’s Board of Directors and the Company’s Compliance
Policy. The Audit Committee of the Board reviews the performance of the Compliance
Department and the status of compliance with regulatory/internal guidelines on a periodic
basis. New Instructions/Guidelines issued by the regulatory authorities were disseminated
across the Company to ensure that the business and functional units operate within the
boundaries set by regulators and that compliance risks are suitably monitored and
mitigated in course of their activities and processes.
DIVIDEND DISTRIBUTION POLICY:
In terms of Regulation 43A of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (“SEBI LODR”), the Board of Directors of the Company has
formulated and adopted ‘Dividend Distribution Policy’. The Dividend Distribution
Policy is available on the Company’s website at https://www.v-ind.com
RESERVES:
Negative balance of Rs. 243,443,803/- have been transferred from the Profit & Loss
account.
SHARE CAPITAL:
During the financial year 2020 - 21, there was change in the paid up Share Capital of
the Company.
The Company has issued 6,60,000 Equity Shares at an issue price of Rs. 5/- ( Rupees
Five only ) per Equity Shares (including premium of Rs. 4/-) on Preferential Basis to HT
Mobile Solutions Limited.
As on 31st March, 2021, the Company has paid up capital of Rs.
110,243,100.00/- divided into 110,243,100 Equity shares on Re. 1/- each.
The Company has neither issued shares with differential rights as to the dividend,
voting or otherwise nor issued sweat equity shares. There is no scheme for employee stock
option or provision of money for shares of the Company to the employees or Directors of
the Company.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
The Management Discussion & Analysis Report, which gives a detailed account of
state of affairs of Company operation forms part of this Annual Report.
CORPORATE GOVERNANCE:
Pursuant to the SEBI (LODR) Regulations, 2015, a separate section on Corporate
Governance forms part of the Annual Report. A declaration to this effect signed by the
Managing Director of the Company is contained in this Annual Report. The Managing Director
and CFO have certified to the Board with regard to the financial statements and other
matters as required under Regulation 17(8) of the SEBI (LODR), Regulations, 2015.
Certificate from the Practicing Company Secretary of the Company regarding compliance
of conditions of Corporate Governance is annexed to this Report.
BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP):
Composition:
The composition of the Board is in conformity with Section 149 of the Act and
Regulation 17 of the Listing Regulations. The Board comprise of 5 (five) Directors out of
which 1 (One) is Executive Directors, 2 (Two) Non Executive Director and 2 (are)
Non-Executive Independent Directors. The Chairman of the Board is a Non-Executive
Director.
Mr. Ripu Sudan Kundra, Non-Executive Director & Chairman,
Mr. Shaiju Nair, Managing Director,
Mr. Ganpati Chaudhary, Non-Executive Non Independent Director
Ms. Dolly Dhanresha, Independent Director,
Ms. Anita Sethia, Independent Director
Mr. Satyajit Kolay, Chief Financial Officer (CFO) and
Ms. Shraddha Bagwe Company Secretary & Compliance Officer are the Director and KMPs
of the Company as on the date of this report.
There is change in the composition of the Board of Directors and KMPs during the year
under review:
| Sr. No. Name |
Designation |
Nature of change |
| 1. Mrs. Shilpa Shetty Kundra |
Non-Executive Director |
(Resigned w.e.f 24.07.2020) |
|
Non- Independent Director |
|
| 2. Mr. Darshit Indravadan Shah |
Executive Director & CFO |
(Resigned w.e.f 31.12.2020) |
| 3. Mr. Nandanadan Mishra |
Independent Director |
(Resigned w.e.f 26.10.2020) |
| 4. Mr. Mahinderkumar Dayanand Wadhwa |
Independent Director |
(Resigned w.e.f 03.11.2020) |
| 5. Mr. Satyendra Mohanlal Sarupria |
Independent Director |
(Resigned w.e.f 05.11.2020) |
| 6. Ms. Dolly Dhanresha |
Independent Director |
(Appointed w.e.f. 08.09.2020) |
| 7. Ms. Anita Sethia |
Independent Director |
(Appointed w.e.f 10.11.2020) |
| 8. *Mr. Umesh Kamat |
Managing Director |
(Appointed w.e.f 19.12.2020) |
|
|
(Resigned w.e.f 23.04.2021) |
| 9. Mr. Sumit Mehra |
Managing Director |
(Appointed w.e.f 01.04.2021) |
|
|
(Resigned w.e.f 14.08.2021) |
| 10. Mr. Shaiju Sukumaran Nair |
anaging Director |
(Appointed w.e.f 27.08.2021) |
| 11. Mr. Ganpati Shankar Chaudhary |
Non-Executive Director Non- Independent Director |
(Appointed w.e.f 27.08.2021) |
*The Company has intimated to the Exchange on 9th February, 2021 that Mr.
Umesh Kamat, Managing Director of the Company has been suspended temporarily due to an
investigation going on regarding his personal matter and resigned w.e.f. 23/04/2021,
Independent Director:
Independent Directors have given written declarations to the Company confirming that
they meets the criteria of independence as mentioned under Section 149(6) of the Act and
Regulation 16(b) of SEBI LODR Regulations.
The Board is of the opinion that the Independent Directors of the Company possess
requisite qualifications, experience and expertise and that they hold highest standards of
integrity. The Independent Directors of the Company have undertaken requisite steps
towards the inclusion of their names in the data bank of Independent Directors maintained
with the Indian Institute of Corporate Affairs in terms of Section 150 of the Act read
with Rule 6 of the Companies (Appointment & Qualification of Directors) Rules, 2014.
Pursuant to Section 152 of the Companies Act, 2013 Mr. Shaiju Nair (DIN: 09305551), who
retires by rotation and, being eligible, offers herself for re-appointment. If
re-appointed, his term would be in accordance with the policy for directors of the
Company.
|
Particulars |
| DIN |
09305551 |
| Name |
Mr. Shaiju Sukumaran Nair |
| Fathers Name |
Mr. Sukumaran Nair |
| Date of Birth |
18.05.1983 |
| Date of Appointment |
27.08.2021 |
| Terms and condition of his appointment |
Given in the Agreement |
| Details of Remuneration |
Rs.80,000/- |
| Expertise in specific functional areas |
Management and Client Servicing. |
| Years of Experience |
More than 14 years |
| Qualification |
B. A. |
| Directorship in Other Companies |
|
| Number of Meetings of the Board attended during the year. |
Nil |
| Member/Chairman of the Committees |
Audit Committee |
| No. of shares held as on the date of this notice in own name or in the name of
relatives |
Stakeholders Relationship Committee |
|
Nil |
BOARD EVALUATION:
Pursuant to the provisions of the Companies Act, 2013 and Part D of Schedule II of SEBI
LODR, evaluation of every Director’s performance was done by Nomination and
Remuneration Committee. The performance evaluation of Non- Independent Directors and the
Board as a whole, Committees thereof was carried out by Independent Directors. Evaluation
of Independent Directors was carried out by the entire Board of Directors, excluding the
Director being evaluated. The performance evaluation of the Chairman of the Company was
also carried out by Independent Directors, taking into account the views of the Executive
Director and Non-Executive Directors.
Structured questionnaires were prepared in accordance with the SEBI Guidelines on Board
Evaluation 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. were circulated to the
Directors for the evaluation process. All Directors unanimously expressed that the
evaluation outcome reflect the overall engagement of the Board and its Committees with the
Company and its management and they are fully satisfied with the same.
The details of familiarization programme for Independent Directors have been disclosed
on website of the Company and are available at the link http://www.v-ind.com
Policy on appointment of Directors and Senior Management and Remuneration of Directors
and Policy on Remuneration of Key Managerial Personnel and Employees have been disclosed
on website of the Company and is available at the link http://www.v-ind.com
The Managing Director draws remuneration only from the Company and does not receive any
remuneration or commission from any of its subsidiary company.
NUMBER OF MEETING OF BOARD OF DIRECTORS:
During the year, Seven Board Meetings were convened and held, the details of which are
given in the Corporate Governance Report. The intervening gap between the meetings was
within the period prescribed under the Companies Act, 2013, the revised Secretarial
Standards 1 (SS-1) issued by the Institute of Company Secretaries of India and SEBI LODR.
All the Directors actively participated in the meetings and contributed valuable inputs on
the matters brought before the Board of Directors from time to time.
DISCLOSURES RELATED TO COMMITTEES & POLICIES:
1. Audit Committee:
The Audit Committee is constituted in conformity with the provisions of Section 177 of
the Act and Regulation 18 of the Listing Regulations. The details regarding the
composition, terms of reference, meetings and attendance of members of Audit Committee of
the Company are disclosed in the report of Corporate Governance, which forms part of this
Annual Report. During the year under review, the Board of Directors of the Company had
accepted all the recommendations of the Audit Committee.
2. Nomination & Remuneration Committee:
The Nomination & Remuneration Committee of Directors is constituted in accordance
with the requirements of Section 178 of the Act and Regulation 19 of the Listing
Regulations. The details regarding composition, term of references, powers, functions,
scope, meetings and attendance of members are included in Corporate Governance Report
which forms part of the Annual Report. Your Company has in place a nomination and
remuneration policy which lays down a framework in relation to remuneration of Directors,
Key Managerial Personnel and Senior Management of the Company. The policy also lays down
criteria for selection and appointment of Board Members.
3. Stakeholders Relationship Committee:
The Stakeholders Relationship Committee is constituted in accordance with the
provisions of Section 178 of the Act and Regulation 20 of the Listing Regulations. The
details regarding composition, term of references, powers, functions, scope, meetings and
attendance of members are included in Corporate Governance Report, which forms part of the
Annual Report.
4. Corporate Social Responsibility:
The Section 135 of the Companies Act, 2013 regarding Corporate Social Responsibility
Committee is not applicable to the Company as the Net Profit of the Company is below the
threshold limit prescribed by the Companies Act, 2013.
PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES:
Disclosures with respect to the remuneration of Directors, KMPs and employees as
required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are given in
Annexure I Report.
Details of employee remuneration as required under provisions of Section 197(12) of the
Companies Act, 2013 read with Rules 5(2) & 5(3) of Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 are available at the Registered Office
of the Company during working hours up to the date of the Annual General Meeting and shall
be made available to any shareholder on request. Such details are also available on your
Company’s website at: http://www.v- ind.com/
MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY:
There are no material changes and commitments affecting the financial position of the
Company which have occurred during the financial year of the Company to which the
financial statements relate and the date of this Boards’ Report.
AUDITORS:
a) Statutory Auditor:
In accordance with the provisions of Section 139 of the Companies Act, 2013, the
members at the 36th Annual General Meeting held on 30th September,
2019 had approved the appointment of M/s. Bansal Bansal & Company, Chartered
Accountants, Mumbai, (Firm Registration No: 100986W) for a term of 5 years, to hold office
till the conclusion of 40th Annual General Meeting, As per the provisions of
Section 139 of the Act, they have confirmed that they are not disqualified from continuing
as Auditors of the Company.
Auditor Report:
Auditors Report for the year under review forms the part of this Annual Report. The
Auditors has not reported any frauds to the Audit Committee under Section 143(12) of the
Companies Act, 2013. The observations and comments furnished by the Auditors in their
report read together with the notes to Accounts are self- explanatory and hence do not
call for any further comments under Section 134 of the Companies Act, 2013. The
Auditors’ Report does not contain any qualification, reservation or adverse remark.
b) Secretarial Auditor:
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board has
appointed Santoshkumar. K. Pandey (Practicing Company Secretaries), to conduct the
secretarial audit of the Company for the financial year(s) commencing on and from 1st
April, 2020. The Secretarial Audit report for the financial year ended 31st
March, 2021, is annexed herewith and marked as Annexure II to this Report. During the year
under review, the Secretarial Auditor had not reported any fraud under Section 143(12) of
the Act.
ANNUAL SECRETARIAL COMPLIANCE REPORT:
The Company has undertaken an audit for the financial year 2020 - 2021 for all
applicable compliances as per Securities and Exchange Board of India Regulations and
Circulars/Guidelines issued thereunder.
The Annual Secretarial Compliance Report has been submitted to the stock exchanges
within 60 days of the end of the financial year.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:
The Board of your Company has laid down internal financial controls to be followed by
the Company and that such internal financial controls are adequate and operating
effectively. Your Company has maintained a proper and adequate system of internal
controls. The Company has appointed M/s. Saraf Saraf & Associates, Chartered
Accountants, as an Independent Internal Auditors who periodically audits the adequacy and
effectiveness of the internal controls lay down by the management and suggests
improvements. This ensures that all Assets are safeguarded and protected against loss from
unauthorized use or disposition and that the transactions are authorized, recorded and
reported diligently. Your Company’s internal control systems commensurate with the
nature and size of its business operations. Internal Financial Controls are evaluated and
Internal Auditors’ Reports are regularly reviewed by the Audit Committee of the
Board.
RISK MANAGEMENT:
The Company has in place the risk assessment and minimization procedures. It has an
appropriate risk management system in place for identification and assessment of risks,
measures to mitigate them, and mechanisms for their proper and timely monitoring and
reporting. Presently, Regulation 21 of the SEBI LODR with respect to Risk Management
Committee is not applicable to your Company. The Management evaluated various risks and
that there is no element of risk identified that may threaten the existence of the
Company.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
The Company has a Policy on Materiality of Related Party Transaction and dealing with
Related Party Transaction which is uploaded on the Company’s website at
https://www.v-ind.com/
All related party transactions that were entered into during the FY 2020 - 2021 were on
an arm’s length basis and were in the ordinary course of the business. There are no
materially significant related party transactions made by the Company with Promoters, Key
Managerial Personnel or other designated persons which may have potential conflict with
interest of the Company at large. All related party Transactions are presented to the
Audit Committee. Omnibus approval is obtained for the transactions which are repetitive in
nature. A statement of all related party transactions is presented before the Audit
Committee on quarterly basis, specifying the nature, value and terms and conditions of
transactions.
The details of Related party transactions are provided in the accompanying financial
statements. Since all related party transactions entered into by the Company were in
ordinary course of business and were on an arm’s length basis, Form AOC 2 is not
applicable to Company.
VIGIL MECHANISM/ WHISTLE BLOWER POLICY:
The Company has established a Vigil Mechanism and Whistle Blower Policy for its
Directors and employees to report concerns about unethical behavior, actual or suspected
fraud, actual or suspected leak of UPSI or violation of Company’s Code of Conduct. It
also provides for adequate safeguards against the victimization of employees who avail of
the mechanism, and allows direct access to the Chairperson of the Audit Committee in
exceptional cases. The said policy has been posted on the website of the Company at the
web link https://www.v-ind.com/
PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS:
Particulars of Investment made/loan given under section 186 of the Companies Act, 2013
are provided in the financial statement.
DEPOSITS:
The Company has not accepted any Fixed Deposits from general public within the purview
of Section 73 of the Companies Act, 2013, during the year under review.
SUBSIDIARY:
The subsidiary of the Company based in Dubai, named, Viaan Industries DMCC has stopped
its business operation due to non-viable business. The Viaan Industries DMCC has been
Liquidated during the Financial year 2020 2021.
The Company does not have any other associate or joint venture or holding Company. The
policy for determining material subsidiaries is available on the Company’s website at
http://www.v-ind.com
EXTRACT OF ANNUAL RETURN:
Pursuant to Section 134(3)(a) of the Companies Act, 2013 read with Rule 12(1) of the
Companies (Management and Administration) Rules 2014, the extract of annual return is
annexed herewith and forming part of the report. (Annexure III)
DIRECTORS REMUNERATION POLICY:
The Board on the recommendation of the Nomination and Remuneration Committee has framed
a Remuneration policy, providing criteria for determining qualifications, positive
attributes, independence of a Director and a policy on remuneration for Directors, key
managerial personnel and other employees. The detailed Remuneration policy is placed on
the Company’s website www.v-ind.com
CONSOLIDATED FINANCIAL STATEMENT:
The subsidiary of the Company based in Dubai, named, Viaan Industries DMCC has stopped
its business operation due to non-viable business. The Viaan Industries DMCC has been
Liquidated in the Financial year 2020 2021. Therefore, the Company has not consolidated
the financial statement of the Company with Viaan Industries DMCC due to it’s
liquidation. Also, the Company does not have any associate or joint venture or holding
Company.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTIONS AND FOREIGN EXCHANGE EARNINGS AND OUTGO:
The information relating to the conservation of energy, technology absorption foreign
exchange earnings and outgo under provisions of 134(3) (m) of the Companies Act, 2013 is
not applicable to the Company, considering the nature of its business activities. Further
the Company has not earned nor spends foreign exchange during the year under review.
DIRECTORS’ RESPONSIBILITY STATEMENT:
To the best of their knowledge and belief and according to the information and
explanations obtained by them, your Directors make the following statements in terms of
Section 134(3) (c) of the Companies Act, 2013: a. in the preparation of the Annual
Accounts for the financial year ended March 31, 2021, the applicable accounting standards
have been followed. There are no material departures from the applicable accounting
standards;
b. the Directors have selected such accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the Company as on March 31, 2021 and of the profit 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 Act for safeguarding the
assets of the Company and for preventing and detecting fraud and other irregularities;
d. the Directors had prepared Annual Accounts on a going concern basis;
e. the Directors had laid down internal financial controls to be followed by the
Company and that such internal financial controls are adequate and were operating
effectively.
f. the Directors had devised proper system to ensure compliance with the provisions of
all applicable laws and that such systems were adequate and operating effectively.
GENERAL:
No fraud has been reported during the audit conducted by the Statutory Auditors,
Secretarial Auditors and Cost Auditors of the Company.
During the year under review, no revision was made in the previous financial statement
of the Company.
During the year ended on 31st March, 2021, there were no cases filed / reported
pursuant to the Sexual Harassment of women at workplace (Prevention, Prohibition and
Redressal) Act, 2013.
No significant or material orders were passed by the Regulators or Courts or Tribunals
which impact the going concern status and Company’s operation in future.
MANAGING DIRECTOR’S CERTIFICATE
A Certificate from the Managing Director in respect of the Financial Statements forms
part of the Annual Report.
PRESENTATION OF FINANCIAL STATEMENT:
The financial statements of the Company for the year ended 31st March, 2021 have been
disclosed as per the Companies Act, 2013.
STATUTORY DISCLOSURES
A copy of audited financial statements of the said Companies will be made available to
the members of the Company, seeking such information at any point of time. A cash flow
statement for the year 2020 - 2021 is attached to the Balance Sheet.
SUSPENSE ACCOUNT/UNCLIAMED SUSPENSE ACCOUNT:
The Company does not have any outstanding shares in the suspense account and is not
required to maintain any Suspense Account or Unclaimed Account as required under Schedule
V of SEBI (LODR).
GREEN INITIATIVE:
Your Company has adopted green initiative to minimize the impact on the environment.
The Company has been circulating the copy of the Annual Report in electronic format to all
those members whose email addresses are available with the Company. Your Company appeals
other Members also to register themselves for receiving Annual Report in electronic form.
ACKNOWLEDGEMENT
The Board of Directors places on record its sincere appreciation for the dedicated
services by the employees of the Company at all levels and the constructive co-operation
extended by them. Your Directors would also like to express their grateful appreciation
for the assistance and support by all Shareholders, Government Authorities, Auditors,
Bankers, Financial Institutions, Customers, Employees, Suppliers, other Business
Associates and various other stakeholders.
|
|
For and on behalf of the Board |
|
|
For Viaan Industries Limited |
|
Sd/- |
Sd/- |
|
Shaiju Sukumaran Nair |
Ganpati Shankar Chaudhary |
|
Managing Director |
Director |
|
DIN: 09305551 |
DIN: 07979103 |
| Date: 27.08.2021 |
|
|
| Place: Mumbai |
|
|
CAUTIONARY STATEMENT:
Statement in the Annual Report describing the Company’s objectives, projections,
expectations and estimates regarding future performance may be “Forward Looking
Statements” and are based on currently available information. The Management believes
these to be true to the best of its knowledge at the time of preparation of this Report.
However, these statements are subject to certain future events and uncertainties, which
could cause actual results to differ materially from those which may be indicated in such
statements.
+91-9892691696
