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Atishay Ltd.

BSE: 538713 Sector: IT
NSE: N.A. ISIN Code: INE011R01013
BSE LIVE 15:21 | 28 Nov 50.00 0.25
(0.50%)
OPEN

50.00

HIGH

50.00

LOW

50.00

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 50.00
PREVIOUS CLOSE 49.75
VOLUME 2000
52-Week high 52.20
52-Week low 40.80
P/E 21.55
Mkt Cap.(Rs cr) 54.90
Buy Price 47.00
Buy Qty 2000.00
Sell Price 50.00
Sell Qty 2000.00
OPEN 50.00
CLOSE 49.75
VOLUME 2000
52-Week high 52.20
52-Week low 40.80
P/E 21.55
Mkt Cap.(Rs cr) 54.90
Buy Price 47.00
Buy Qty 2000.00
Sell Price 50.00
Sell Qty 2000.00

Atishay Ltd. (ATISHAY) - Director Report

Company director report

TO

THE MEMBERS

ATISHAY LIMITED

Your Directors have pleasure in presenting the 16th Annual Report of Atishay Limited(Formerly known as Atishay Infotech Limited) along with the Statement of Accounts for theyearended March 312016.

FINANCIAL HIGHLIGHTS

Our Company's financial performance forthe year under review has been encouraging andis summarized below:

Particulars 2015-16(Rs in lakhs) 2014-15 (Rs in lakhs)
Total Revenue 1960.40 2018.56
Less: Expenditure & Depreciation 1532.53 1549.14
Profit before exceptional and 427.87 469.42
extraordinary items and tax
Less: Prior period items 11.26 0.00
Profit before Tax (PBT) 416.61 469.42
Less: Tax (including deferred tax) 116.76 127.89
Profit After Tax (PAT) 299.85 341.52

REVIEW OF OPERATIONS

The Company's profit after tax for the financial year ended March 31 2016 decreased by41.67 lakhs as compared to last year.

TRANSFER TO RESERVES

The Company has transferred current year's profit of Rs 299.85 lakhs to the GeneralReserves.

CHANGE IN NATURE OF BUSINESS

There has been no change in the nature of the business of the Company. The Company hasstarted its Hotel business in the month of April 2016.

CHANGE IN NAME OF COMPANY

The name of the Company has been changed from "Atishay Infotech Limited "to"Atishay Limited" with effect from 6th January2016 as per Fresh Certificate ofIncorporation issued by the Ministry of Corporate Affairs.

AWARDS AND ACCOLADES

During the year under review the Company received awards and honours the details ofwhich are mentioned herein below:-

• The Company has been appraised at Capability Maturity Model Integration CMMI-SVC1.3 Level 3. This assessment validates Atishay's process capability based on the CMMIstandardsthat measure process and services improvements.

• The Company has been recognized by Indian Achievers forum for its contributiontowards responsible business practices and has been awarded with "Indian AchieversAward for Best Business Practices"

• The Company has been certified as one of the top 5 performers on BSE -SMEPlatform for the Year-2014-15.

HOTEL ATISHAY

The Company Atishay Limited is a Public Limited company which is headquartered inBhopal. It has diversified its business and entered into the hotel and hospitalityindustry. It has recently started with the operation of its Hotel named Hotel Atishaywhich isa unit of Atishay Limited.

Hotel Atishay is situated in MP Nagar which is the commercial hub of Bhopal and hassome interesting tourist spots in the close vicinity like - Moti Masjid Taj-ul MasjidBharat Bhavan Birla Mandir Museum of Man Van Vihar Bhimbetka and Sanchi.

Hotel Atishay is Bhopal's delightful property and is an ideal blend of consummatefacilities and faultless services which is best suited for leisure as well as corporatetravelers due to its proximity to commercial and pleasure areas.

Brief Description:

Hotel Atishay is one of the best Business Hotels of Bhopal. It has 47 luxurious roomswhich offers a very plush surrounding with modern amenities. It has a Vegetarian fine dinemulticuisine restaurant (Urban Chulha) together with a distinguishing Sky Lounge (Sky55).It is an ideal place to unwind customers with the bite of their favourite delicacies. Ithas three a full service catering banquet halls distinguished by names Ruby Emerald andSapphire which serves delicious vegetarian meals from around the globe.

It is an ideal place for conducting conferences receptions and exhibitionsmeetingsand seminars.

The hotel also has facilities like- gymnasium and Jacuzzi that offers the guestsultimate relaxation.

DEPOSIT

The Company has not accepted deposit from the public falling within the ambit ofSection 73 of the Companies Act 2013 and The Companies (Acceptance of Deposits) Rules2014.

SHARE CAPITAL

During the year under review there has been no change in the capital structure of theCompany.

HUMAN RESOURCES

Our vision is to become an employer of choice by providing a compelling employee valueproposition.

We strive to attract the best talent and ensure employees' development retention andcontribution to the Company's success. Our HR policies and practices are focused oncreating a Happy Engaged and Productive workforce. We continue to invest in leadershipdevelopment employee engagement training and employee assistance programs. We continueto design and deliver training &development programs that focus on enhancing ouremployee productivity and performance while also enabling employees' personal andprofessional development. We foster a meritocratic culture which also forms the basis forvarious talent management initiatives. Our focus continues to be to attract develop andretain talent besides harnessing the true potential of our people - our greatest assets.

STATUTORY AUDITORS

M/s Tasky Associates Chartered Accountants was appointed as Statutory Auditor of theCompany at the Annual General Meeting held on 28th May2015 upto the Annual GeneralMeeting to be held in calendar year of 2017 subject to ratification by the Members inevery Annual General Meeting . Therefore ratification of appointment of M/s TaskyAssociates as Statutory Auditor for the financial year 2016-17 is being sought from theMember of the Company at the ensuing Annual General Meeting.

AUDITORS' REPORT

The observations of Auditors in their report read with notes to the accounts are self-explanatory.

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 hasappointed M/s. Prajakta V. Padhye 8< Co Practising Company Secretary to conductSecretarial Audit for the financial year 2015-2016.

The Secretarial Audit Report for the financial year ended 31st March 2016 is annexedherewith as Annexure 'A' of the Director's Report.

DIRECTORS:

Changes in Directors and Key Managerial Personnel

During the year -Mr. Akhilesh Jain continued to remain as the Chairman & ManagingDirector of the Company and Mr. Archit Jain continued to remain as the Whole-timeDirector of the Company.

Mrs. Rekha Jain resigned from the position of Whole Time Director due to some personalreasons and certain pre occupation and continue to remain as Non- Executive Director ofthe Company from 1st April 2015.

Mr. Kavindra Singh Mrs. Poonam Pritam Issrani and Mr. Arvind V Lowlekar continued toremain appointed as Non-Executive and Independent Director of the Company.

During the year -Mr. Ranveer Singh Chandel and Miss Iti Tiwari continued to remain asthe Chief Financial Officer and the Company Secretary and Compliance Officer of theCompany.

RETIREMENT BY ROTATION

In accordance with the provisions of Companies Act 2013 and the Articles ofAssociation of the Company Mrs.Rekha Jain (DIN : 01886897 ) Director of the

Company retires by rotation at the forthcoming Annual General Meeting and beingeligible has offered herself for reappointment. The Board recommends reappointment of Mrs.Rekha Jain (DIN : 01886897) as Director ofthe Company in the ensuing Annual GeneralMeeting of the Company.

SUBSIDIARY COMPANY

The Company does not have any subsidiary company

CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of Corporate Governance.Accordingly your Company has taken adequate steps to ensure compliance with theprovisions of Corporate Governance as prescribed under the Listing Agreement with theStock Exchange.

VIGIL MECHANISM/WHISTLE BLOWER POLICY

The Company has put in place a mechanism of reporting illegal or unethical behaviourthrough its Whistle Blower Policy. Employees and Directors are free to report violationsof laws rules regulations or unethical conduct. The report if any in this regard asreceived from any person will be reviewed by the Audit Committee of the Company. It isaffirmed that no person has been denied access to the Audit Committee of the Company inthis respect. It is also ensured that confidentiality of such reporting is strictlymaintained and that Whistle Blowers are not subjected to any discriminatory practice orharassment. The Whistle Blower policy is duly uploaded on the Com pany's website:www.atishay.com

LISTING

The Shares of your Company are listed on the Bombay Stock Exchange Limited (SMEPlatform). Further the Company has paid Annual Listing Fee for the year 2016-17 to theBombay Stock Exchange Limited.

SIGNING OF NEW LISTING AGREEMENT

The Company has executed and signed with a fresh listing agreement with Bombay StockExchange within six months of the date of notification of Securities and Exchange Board ofIndia (Listing Obligations and Disclosure Requirements) Regulations 2015.

B DISCLOSURE UNDER SEXUAL HARRASMENT OF WOMEN AT WORKPLACE (PREVENTIONPROHIBITION AND REDRESSAL) ACT 2013

The Company has in place an Anti-Sexual Harassment Policy in line with the requirementof The Sexual Harassment of Women at the workplace

(Prevention Prohibition & Redressal) Act 2013. All employees (permanentcontractual temporary trainees) are covered underthis policy.

There were no complaint(s) received from any employee during the financial year2015-2016.

POLICIES FRAMED UNDER LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS 2015

As per the requirement of Regulation 9 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 the Company has formulated a Policy on preservation ofdocuments of the Company.

The said Policy classified documents into two categories i.e documents whosepreservation shall be permanent in nature while for all other documents the preservationof whose shall not be less than eight years after completion of the relevant transactions.

Also as per the requirement of Regulation 30 of the SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 Company has formulated a Policy fordetermining materiality of event . This Policy is relevant for making disclosures of anyEvents or Information which in the opinion of the Board of Directors is material.

The Company has authorized Officials for the purpose of determining materiality of anevent or information and for the purpose of making appropriate disclosure(s) to the StockExchange as and when required pursuant to the requirement of Regulation 30(5) of the SEBI(Listing Obligations and Disclosure Requirements) Regulations2015. The detailed policiesframed is available on the Company's website www.atishay.com.

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