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Avantel Ltd.

BSE: 532406 Sector: Telecom
NSE: N.A. ISIN Code: INE005B01019
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VOLUME 17
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P/E 49.03
Mkt Cap.(Rs cr) 46.07
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OPEN 106.50
CLOSE 107.00
VOLUME 17
52-Week high 165.00
52-Week low 94.50
P/E 49.03
Mkt Cap.(Rs cr) 46.07
Buy Price 104.60
Buy Qty 10.00
Sell Price 113.75
Sell Qty 8.00

Avantel Ltd. (AVANTEL) - Director Report

Company director report

Dear Members

Your Directors have pleasure in presenting herewith the 25th Annual Report on thebusiness of Your Company together with the Audited Accounts for the financial year ended31st March 2015.

FINANCIAL SUMMARY:

(Rs. In Lakhs)

Particulars Financial Year 2014-15 Financial Year 2013-14
Total Revenue 2607.75 1318.91
Expenses 2121.34 1122.84
Operating Profit 486.41 196.07
Depreciation 188.66 198.99
Financial Expenses 176.40 112.27
Profit/ (Loss) before Tax (PBT) 121.34 (115.19)
Provision for Taxation
Current Tax 29.36 11.82
Profit after Tax 89.33 (103.37)
Brought forward from previous year 880.68 984.05
Profit available for appropriation 896.82 880.68
Provision for proposed Dividend 60.81 -
Provision for Dividend Tax 12.38 -
Balance Carried to Balance Sheet 896.82 880.68

There are no material changes and commitments affecting the financial position of theCompany which have occurred between the end of the financial year of the company to whichthe financial statements relate and the date of this report.

COMPANY PERFORMANCE:

Your Company posted good financial results during the year under review. Turnover ofthe Company has increased from Rs. 1300.53 Lakhs to Rs. 2524.39Lakhs and the Company hasmade a net profit of Rs. 89.33 Lakhs in the year under review when compared to a loss ofRs. 103.37 Lakhs in the previous year.

DIVIDEND:

Your Directors recommended a dividend of Rs. 1.50/- i.e. 15% per equity share of Rs.10/- each for the financial year

2014-2015. The dividend payout is subject to the approval of the members at the ensuingAnnual General Meeting.

The Dividend will be paid to members whose names appear in the register of members ason 11.09.2015 and in respect of shares held in dematerialized form it will be paid to themembers whose names are furnished by NSDL and CDSL as beneficial owners as on that date.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

The Board of Directors appointed Shri Raghu Prasad Pidikiti as an Additional Directorof the Company who holds office till the ensuing Annual General Meeting. The Board basedon the recommendation of Nomination and Remuneration Committee considered the appointmentof Shri Raghu Prasad Pidikiti as the Director subject to approval of shareholders. Inaccordance with the provisions of Section 152 of the Companies Act 2013 ShriSubramanaiya Balakrishnan Director of the Company retires by rotation and being eligiblehas offered himself for re-appointment.

Maj Gen. Dr. Rajinder Kumar Bagga AVSM (Retd) resigned from the office of the Directorw.e.f 9th December 2014. Ms. Sona Rajora Associate member of the Institute of CompanySecretaries of India New Delhi. (Membership No. A35468) was appointed as the CompanySecretary and Compliance Officer of the Company by the Board of Directors of the Companyon 14.05.2014.

Ms. Sona Rajora resigned as the Company Secretary and Compliance Officer of theCompany with effect from close of business hours of 25th March 2015.

Mr. Lokesh Agarwal Associate member of the Institute of Company Secretaries of IndiaNew Delhi. (Membership No. A35764) was appointed as the Company Secretary and ComplianceOfficer of the Company by the Board of Directors of the Company on 29th April 2015.

A Brief Profile of the Directors of the Company is annexed herewith as "Annexure-I"to this report.

STATUTORY AUDITORS:

At the Annual General Meeting (AGM) held on September 25 2014 M/s. Ramanatham &Rao Chartered Accountants were appointed as Statutory Auditor of the Company to holdoffice from the conclusion of AGM till the conclusion of the 29th AGM (subject toratification of the appointment by the members at every AGM held after this AGM) at suchremuneration as may be decided by the Board of Directors. In terms of the first proviso toSection 139 of the Companies

Act 2013 the appointment of the auditor shall be placed for ratification at everyAnnual General Meeting. Accordingly the appointment of M/s. Ramanatham & RaoChartered Accountants as statutory auditors of the Company is hereby placed forratification by the shareholders. In this regard the Company has received a certificatefrom the auditors to the effect that if they are reappointed it would be in accordancewith the provisions of Section 141 of the Companies Act 2013.

INTERNAL AUDITORS:

The Board of Directors based on the recommendation of the Audit Committee hasre-appointed M/s. Ramesh & Co. Chartered Accountants Hyderabad as the InternalAuditors of your Company. The Internal Auditors are submitting their reports on quarterlybasis.

SECRETARIAL AUDITORS:

M/s. P. S. Rao & Associates Practising Company Secretaries were appointed tocarry out the Secretarial Audit of the Company for the financial year 2014-15 as requiredunder Section 204 of the Companies Act 2013 and Rule 9 of Cpmpanies (Appointment andRemuneration of Managerial personnel) Rule 2014. The secretarial audit report for FY2014-15 forms part of this Report as Annexure-II.

CORPORATE SOCIAL RESPONSIBILITY (CSR):

The Company as part of its Corporate Social Responsibility (CSR) initiative adopted ZPHSchool with a strength of 2000 students at Chandrampalem Madhurawada Visakhapatnam. Ithad remodeled the school with various basic facilities and amenities. A report on CSRActivities as required under Rule 9 of the Companies (Corporate Social Responsibility)Rules 2014 is enclosed herewith as Annexure – III.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE OUTGO:

Information required under section 134(3)(m) of the Companies Act 2013 read with Rule8 of the Companies (Accounts) Rules 2014 is enclosed herewith as Annexure-IV.ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITHREFERENCETOTHEFINANCIALSTATEMENTS:

The Company has in place an Internal Control System commensurate with the size scaleand complexity of its operations. During the year such controls were tested and noreportable material weaknesses in the design or operation were observed.

SUBSIDIARIES:

The Company has no subsidiaries as on 31st March 2015.

NOMINATION AND REMUENRATION POLICY:

A committee of the Board named as "Nomination and Remuneration Committee" hasbeen constituted to comply with the provisions of section 178 Schedule IV of theCompanies Act 2013 and Clause 49 of the Listing Agreement and to recommend a policy ofthe Company on directors’ appointment and remuneration including criteria fordetermining qualifications positive attributes independence of a director and othermatters and to frame proper systems for identification appointment of Directors &KMPs fixing of Remuneration and Evaluation of their performance and to recommend the sameto the Board from time to time. The policy is also posted in the investors section of theCompany’s website.

FIXED DEPOSITS:

Your Company has not accepted any fixed deposits during the financial year 2014-15 andas such no principal or interest was outstanding as on the date of the Balance sheet.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS:

Details of the Loans guarantees and investments covered under Section 186 of theCompanies Act 2013 are given in the notes to the financial statements pertaining to theyear under review.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 134 (5) of the Companies Act 2013 Your Directors’ confirmthat:

i) In preparation of annual accounts for the financial year ended 31st March 2015 theapplicable Accounting Standards have been followed along with proper explanation relatingto material departures;

ii) The Directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give true andfair view of the state of affairs of the Company at the end of the financial year ended31st March 2015 and of the profit and loss of the Company for the year;

iii) The Directors have taken proper and sufficient care for their maintenance ofadequate accounting records in accordance with the provisions of the Companies Act forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities;

iv) The Directors had prepared the annual accounts on a ‘going concern’basis;

v) The directors had laid down internal financial controls to be followed by theCompany and that such internal financial controls are adequate and were operatingeffectively; and

vi) The directors had devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems are adequate and operating effectively.

VIGIL MECHANISM:

The Company has a Whistle Blower Policy framed to deal with instance of fraud andmismanagement if any in the Company. The details of the Policy are explained in theCorporate Governance Report and also posted on the website of the Company www.avantel.inon the following link http://www.avantel.in/inversteinfo.php

RELATED PARTY TRANSACTIONS:

Related party transactions entered during the financial year under review are disclosedin Note No. 2.36 to the Financial Statements of the Company for the financial year ended31st March 2015. The transactions entered were at arm’s length basis and were in theordinary course of business. There were no material significant related party transactionswith the Company’s Promoters Directors Management or their relatives which couldhave had a potential conflict with the interests of the Company. Form AOC-2 containingthe note on the aforesaid related party transactions is enclosed herewith as Annexure–V.

The Policy on the Related Party Transactions as approved by the Board is uploaded onthe website of the Company.

EXTRACT OF ANNUAL RETURN:

The details forming part of the extract of the Annual Return in Form MGT-9 is annexedherewith as Annexure -VI. MANAGEMENT DISCUSSION AND ANALYSIS:

Pursuant to the provisions of Clause 49 of the Listing Agreement a report onManagement Discussion & Analysis is herewith annexed as Annexure- VII.

PARTICULARS OF EMPLOYEES:

The information required pursuant to Section 197 read with Rule 5 of The Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 in respect of employeesof the Company is herewith annexed as Annexure- VIII. CORPORATE GOVERNANCE REPORT:

Your Company has complied with the requirements of Clause 49 of the Listing Agreemententered with the Stock Exchange. Report on Corporate Governance including Auditor’sCertificate on compliance with the Code of Corporate Governance specified under the saidclause is enclosed as Annexure- IX.

HUMAN RESOURCES:

Your Company considers its Human Resources as the key to achieve its objectives.Keeping this in view your Company takes utmost care to attract and retain qualityemployees. The employees are sufficiently empowered and such work environment propels themto achieve higher levels of performance. The unflinching commitment of the employees isthe driving force behind the Company’s vision. Your Company appreciates the spirit ofits dedicated employees.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS:

There are no significant material orders passed by the Regulators / Courts which wouldimpact the going concern status of the Company and its future operations.

ACKNOWLEDGMENTS:

Your Directors take this opportunity to express their sincere appreciation to theshareholders customers bankers suppliers and other business associates for theexcellent support and co-operation extended by them. Your Directors gratefully acknowledgethe ongoing cooperation and support provided by the Central and State Governments StockExchange SEBI RBI and other Regulatory Bodies.

For Avantel Limited
Place : Hyderabad Y. Kishore
Date : 29.07.2015 Chairman of the Meeting

ANNNEXURE-I

DIRECTORS PROFILE

1. SHRI DR. A. VIDYASAGAR:

Name Dr. A. Vidyasagar
DIN 00026524
Designation Managing Director
Age 55 years
Date of appointment on the Board of the Company 01.08.1992
No. of Shares of Rs. 10/- each held as on date 806720
Relationship between Directors inter se Husband of Mrs. A. Sarada (Director and CFO)

Dr. A. Vidyasagar is an Engineering Master Graduate. He did his B. Tech from JNTUKakinada Andhra Pradesh from 1977 to 1981 and also did his Master of Engineering fromIIT Kharagpur from 1981 to 1983. He also did Master of Business Administration fromOsmania University Hyderabad during the year 1989-1991. He also received Doctorate fromJNTU Hyderabad for his outstanding work on E- Learning.

Dr. A. Vidyasagar promoted Avantel Ltd. in the year 1990. Avantel now has world-classinfrastructure for design manufacture and development of Wireless Products for DefenceSatellite Communications and Export Markets.

Dr. A. Vidyasagar is a dedicated and committed personality with rich experience of morethan 26 years in the telecommunications software and satellite communication sectors.

Following are few of his career achievements:

• Designed Circuits and Micro Electronic Modules for Fighter Aircrafts andElectronic Warfare Systems.

• Designed Communications Equipment for Ground-to-Air and Air-to-AirCommunications in Fighter Aircrafts.

• Project Appraisal for Techno-Economic feasibility of Technology driven SMEs inthe areas of Electronics Telecom Information Technology and Medical Services SoftwareDevelopment and Project Management.

2. SHRI YALAMANCHILI KISHORE:

Name Yalamanchili Kishore
DIN 01633048
Designation Independent Director
Age 56 Years
Date of appointment on the Board of the Company 30.04.2011
No. of Shares of Rs. 10/- each held as on date Nil
Relationship between Directors inter se N.A

Shri Yalamanchili Kishore has done his B. Tech in Electronics and CommunicationEngineering and also M. Tech in Controls and Instrumentation from IIT Bombay.

He possesses around 29 years of experience spanning all aspects of software productsdelivery - Presales Consulting Implementation Engineering and Support – to globalcustomers. Currently he is associated with SEEC Technologies Asia Pvt Ltd. Hyderabad asa Sr. Vice President - Product Development.

Some of the notable achievements of Shri Y. Kishore are successful in setting up ofoff-shore product development team for SEEC Composite Application Suite and in deliveringquality products on time using offshore delivery model. He was also involved in setting upof software engineering practices monitoring and improvement of quality processes.

3. SHRI NAVEEN NANDIGAM:

Name Naveen Nandigam
DIN 02726620
Designation Independent Director
Age 53 Years
Date of appointment on the Board of the Company 30.10.2010
No. of Shares of Rs. 10/- each held as on date Nil
Relationship between Directors inter se N.A

Shri Naveen Nandigam is a fellow member of Institute of Chartered Accountants of India(ICAI) and has been in practice since 1990.

In the year 1993 having a passionate interest in making a difference to the studentcommunity he started DIGVIJAY Coaching Center at Hyderabad to provide professionalcoaching to students pursuing CA CS CWA courses in India. Over the past 21 years hiscommitted passion with his team of faculties has produced more than 1000 CA CS and CWAfully qualified professionals in India.

Shri Naveen Nandigam balances CA profession as well as his coaching assignments witheach other.

4. SMT. A. SARADA:

Name A. Sarada
DIN 00026543
Designation Director & CFO
Age 51 Years
Date of appointment on the Board of the Company 14.05.2014
No. of Shares of Rs. 10/- each held as on date 219449
Relationship between Directors inter se Wife of Dr. A. Vidyasagar (M.D)

Mrs. A. Sarada has done Bachelor of Communication and Journalism from PadmavatiUniversity and Masters in Business Administration from Madhurai Kamraj University. She wasassociated and served the Company from 1992 to 2008 as Director (Accounts). During these16 years of her journey she made significant contributions to the growth of the Company.

She is presently serving the Company as the Whole-time Director and Chief FinancialOfficer of the Company.

5. SHRI MAJ. GEN (RETD) S. BALAKRISHNAN VSM:

Name Maj. Gen (Retd) S. Balakrishnan VSM
DIN 00026612
Designation Director
Age 78 Years
Date of appointment on the Board of the Company 31.10.2013
No. of Shares of Rs. 10/- each held as on date Nil
Relationship between Directors inter se N. A.

Major General S. Balakrishnan VSM is an engineering graduate of 1959 batch. Later in1977 he did his M. tech with distinction. He has also done PTSC from IAT Pune withhonors. He had done PGDIE&M from JNTU Hyderabad. He is also a fellow of the IndianInstitute of Engineers (India).

Maj Gen S Balakrishnan VSM belongs to the Corps of Electrical and Mechanical Engineers(EME) of the Indian Army and was responsible to maintain all equipments / systems likeWireless sets Radars Vehicles Instruments and Armaments held by the Army.

For the good work done by him he received the Prestigious Awards namely theCommendation of the Chief of Army Staff (Twice) and the distinguished Vasist Seva Medal(VSM) from the President of India in 1993.

6. SHRI RAGHU PRASAD PIDIKITI:

Name Raghu Prasad Pidikiti
DIN 01660157
Designation Additional Director
Age 58 Years
Date of appointment on the Board of the Company 25.10.2014
No. of Shares of Rs. 10/- each held as on date Nil
Relationship between Directors inter se N.A.

Shri Raghu Prasad Pidikiti is a B. Tech (Civil Engg) from JNTU college of engineeringKakinada in the year 1979. He was a Managing Partner of M/s. Westcoast ConstructionCompany from 1980 to 1994.

He also promoted with industry professionals a trading Company M/s. DCS Trading &Services Pvt. Ltd (name changed to DCS TECHNO SERVICES PVT LTD in 2013) which is thedistributor for KENNAMETAL USA for their construction and mining tools for the entiresub-continent apart from representing promoting and marketing various construction andmining related attachments consumables spares and building construction related equipmentlike tower cranes hoists etc.

He is presently serving the Company as the Additional Director and now the resolutionis put for his appointment as Independent director of the Company.

Shri Raghu Prasad Pidikiti is a B. Tech (Civil Engg) from JNTU College of engineeringKakinada in the year 1979. He was a Managing Partner of M/s. Westcoast ConstructionCompany from 1980 to 1994. During this period the Partnership firm executed various civilengineering projects like dams pre-stressed concrete structures in Goa water supplyschemes for Coimbatore and Madurai and Railway guage conversion works between Bangaloreand Mysore. He then promoted a limited Company M/s. Delta Construction Systems Limited in1994 (name changed to D C S Limited in 2013) with his brothers and friends and undertookvarious projects mostly in the hydro-electric and irrigation sectors like tunnels shaftspower houses and lift irrigation projects in various states in India industrial projectslike captive power plant and substation works urban infrastructure projects like metroworks in Delhi metro and Chennai Metro underground works.

Diversified during this period into mining related works and the Company wasinstrumental in introducing various innovative and leading methods in mining like:

• Introduction of eco-friendly mining methods in coal and limestone using surfaceminers and mega rock breakers

• Blind pumping of concrete for construction of underground water dams to depthsof 200m and lengths of more than 700m in Singareni Collieries

• Promoting introducing and transferring technology for highwall mining of coalto extract locked up coal for which the Company was awarded "TECHNOLOGY AWARD FORPHYSICAL SCIENCES INCLUDING ENGINEERING – 2011" by Council of Scientific &Industrial Research for implementing the technology for Extraction Design of Locked-UpCoal by Highwall Mining in India

He has promoted DCS Limited (formerly Delta construction system Limited) in the year1994 which is involved in construction of heavy civil and underground mininginfrastructure works. Currently he is the Managing Director of DCS Limited.

He also promoted with industry professionals a trading Company M/s. DCS Trading &Services Pvt. Ltd (name changed to DCS TECHNO SERVICES PVT LTD in 2013) which is thedistributor for KENNAMETAL USA for their construction and mining tools for the entiresub-continent apart from representing promoting and marketing various construction andmining related attachments consumables spares and building construction related equipmentlike tower cranes hoists etc.

ANNEXURE –II

SECRETARIAL AUDIT REPORT

For the Financial Year ended March 31 2015

[Pursuant to Section 204(1) of the Companies Act 2013 and Rule No.9 of the Companies

(Appointment and Remuneration Personnel) Rules 2014]

To

The Members

Avantel Limited

Sy No.141Plot No.47/P APIIC Industrial Park

Gambheeram(V) Anandapuram (M)

Vishakhapatnam Andhra Pradesh-531163

We have conducted the secretarial audit of the compliance of applicable statutoryprovisions and the adherence to good corporate practices by Avantel Limited (hereinaftercalled the Company). Secretarial audit was conducted in a manner that provided us areasonable basis for evaluating the corporate conducts / statutory compliances andexpressing our opinion thereon.

Based on our verification of the Company’s books papers minutes books forms andreturns filed and other records maintained by the Company and also the informationprovided by the Company its officers agents and authorized representatives during theconduct of secretarial audit we hereby report that in our opinion the Company hasduring the audit period covering the financial year ended on 31st March 2015 compliedwith the statutory provisions listed hereunder and also that the Company has properBoard-processes and compliance mechanism in place to the extent in the manner and subjectto the reporting made hereinafter:

We have examined the books papers minute books forms and returns filed and otherrecords maintained by the Company for the financial year ended on 31st March 2015 interms of the provisions of: i. The Companies Act 2013 (the Act) and the rules madethereunder. ii. The Securities Contracts (Regulation) Act 1956 (‘SCRA’) and therules made thereunder; iii. The Depositories Act 1996 and the Regulations and Bye-lawsframed thereunder; iv. Foreign Exchange Management Act 1999 and the rules and regulationsmade thereunder to the extent of Foreign Direct Investment and Overseas Direct Investment.(Not applicable to the Company during the audit period.) v. The followingRegulations and Guidelines prescribed under the Securities and Exchange Board of IndiaAct 1992 (‘SEBI Act’):

(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares andTakeovers) Regulations 2011; (b) The Securities and Exchange Board of India (Prohibitionof Insider Trading) Regulations 1992; (c) The Securities and Exchange Board of India(Issue of Capital and Disclosure Requirements) Regulations 2009 ( Not applicable tothe Company during the audit period);

(d) The Securities and Exchange Board of India (Employee Stock Option Scheme andEmployee Stock Purchase Scheme) Guidelines 1999 (Not applicable to the Company duringthe audit period);

(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities)Regulations 2008; ( Not applicable to the Company during the audit period)

(f) The Securities and Exchange Board of India (Registrars to an Issue and ShareTransfer Agents) Regulations 1993 regarding the Companies Act and dealing with client;(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations2009 (Not applicable to the Company during the audit period); and (h) TheSecurities and Exchange Board of India (Buyback of Securities) Regulations 1998; vi.Other specifically applicable laws to the Company:

* Telecom Regulatory Authority of India Act 1997;

* The Trade Marks Act 1999;

We have also examined compliance with the applicable clauses of the following: i.Listing Agreements entered into by the Company with Stock Exchange(s) and ii. SecretarialStandards issued by the Institute of Company Secretaries of India (Not notified duringthe audit period and hence not applicable).

During the period under review the Company has complied with the provisions of the ActRules Regulations Guidelines Standards etc. mentioned above.

We further report that:

* During the year under review the Company has bought back 128507 equity shares ofRs. 10/- each which represents 59.56% of the Buyback Size of Rs. 180.00 Lakhs We furtherreport that: * there are adequate systems and processes in the Company commensurate withthe size and operations of the Company to monitor and ensure compliance with applicablelaws rules regulations and guidelines.

* there were no such specific events / actions in pursuance of the above referred lawsrules regulations etc. having a major bearing on the Company’s affairs.

For P. S. Rao & Associates
Company Secretaries
P. S. Rao
Partner
Place : Hyderabad M. No. : 9769
Date : 25.05.2015 C.P. No.: 3829

ANNEXURE –III

REPORT ON CSR ACTIVITIES

The CSR is being reported from 1st April 2014 to 31st March 2015.

A Brief outline of the Company’s CSR policy including overview of projects orprogrammes proposed to be undertaken and a reference to the web-link to the CSR policy andprojects or programmes:

(A) CSR POLICY:

CSR Vision Statement & Objective:

CSR Vision:

As a socially responsible corporate citizen the Company will continue to enhance valuecreation in the society and community in which it operates. Through its conduct servicesand CSR initiatives it will strive to promote sustained growth in the surroundingenvirons.

Objective:

The objective of the policy is to actively contribute to the social environmental andeconomic development of the society in which we operate.

Resources:

2% of the average net profits of the Company made during the three immediatelypreceding financial years; Surplus arising out of CSR activities.

Company will engage in the activities mentioned in the CSR Policy of the Companyindependently or in such manner that it will complement the work being done by localauthorities wherever necessary in such a manner that the work executed by Company willoffer a multi fold benefit to the community.

Implementation Process:

A CSR Cell will be formed at Factory and at Corporate Office to identify the variousprojects/programmes suitable as per the policy of the Company. These identifiedprojects/programmes will be scrutinized by the CSR Committee and select forimplementation.

Monitoring:

The coordinators periodically inspect & report the progress of work commissionedevery quarter and submit a report to CSR Committee.

(B) COMPOSITION OF THE CSR COMMITTEE:

The CSR Committee of the Company consists of the following persons:

a) Smt. A. Sarada (Chairperson)

b) Shri N. Naveen (Member)

c) Shri Y. Kishore (Member)

d) Shri B. V. K. Durga Prasad (Member)

(C) AVERAGE NET PROFIT OF THE Company FOR LAST THREE FINANCIAL YEARS:

Rs. 38972914/- (Rupees Three crors eight nine lakhs seventy two thousand and ninehundred forteen only)

(D) PRESCRIBED CSR EXPENDITURE (2% OF THE AMOUNT AS IN ITEM (C) ABOVE):

2% Average net profit of the Company for last three financial yearsis Rs. 779458/-.

(E) DETAILS OF CSR SPENT DURING THE FINANCIAL YEAR:

a) Total amount to be spent for the financial year : Rs. 963519/-.
b) Amount unspent if any : Nil

c) Manner in which the amount spent during the financial year is detailed below:

Sl. No. CSR project or activity identified Sector in which the project is covered Projects or rogramme (1) Local area or other state and district where projects or programs was undertaken Amount outlay (budget) project or programs wise Amount spent on the project or programme (1) Direct expenditure on projects or programmes (2)Overheads Cumulative expenditure up to the reporting period Amount Spent direct or through implemen- ting agency
1 The Company has adopted ZPH School with a strength of 2000 students Literacy Chandrampalem Madhurawada Visakhapatnam (Andhra Pradesh) 779458 963519 963519 By the Company
Total 779458 963519 963519

ANNEXURE- IV

PARTICULARS OF ENERGY CONSERVATION TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGSAND OUTGO AS REQUIRED UNDER THE COMPANIES (ACCOUNTS) RULES 2014

A. Conservation of Energy:

(i) In line with the Company’s commitment towards conservation of energy theCompany continued with their efforts to the possible extent through conservation ofinstallation of energy saving devices.

• LED fixtures for Registered Office.

(ii) The steps taken by the Company for utilizing alternate source of energy is hereunder

• 25 KVA Grid connected Solar Power Plant installed at Visakhapatnam.

(iii) The Capital investment on energy conversation equipment during the financial year2014-15 is 21.77 lakhs

B. Particulars with respect to absorption of Technology Research and Development (R& D) specific areas in which R & D was carried out by the Company:

a. Technology Absorption Adoption and Innovation:

The Company develops products with in-house technology.

The Company has installed and commissioned CNC Machine centers for precisionmanufacturing of mechanical assemblies for defence applications.

b. Research and Development:

The Company’s Research and Development center is recognized by the Department ofScientific and Industrial Research(DISR) Ministry of Science and Technology Governmentof India.

c. Specific areas in which R & D was carried out by the Company:

• Development of UHF Satcom System for MR class Aircrafts

• Development of MSS Transceivers for Helios.

• Development of 1KW HF Power Amplifier & Antenna Tuning Unit

• Development of MSS Transceiver terminal with Antenna Tracking Unit.

• Development of MSS transceiver for submarines.

• Development of Real Time Train Tracking Information System for Indian Railways

• Development of MSS transceivers for MARCOS

d. Benefits derived as a result of the above R & D:

The Company could offer indigenous customized strategic solutions to Indian defenceservices including Indian Navy Indian Coast Guard and ISRO. e. Future plan of Action:

• Development of UHF Satcom System for Helios.

• Development of UHF Satcom Radios for Submarines.

• Development of MSS Terminals for Next Generation Satellite.

• Development of 1KW HF System for Indian Navy.

• Development of 4KW SSPAs RADAR applications.

f. Expenditure on Research & Development:

Rs. in Lakhs

Capital 1.07
Recurring 452.12
Total 453.19
Total R & D expenditure % as of Turnover 17.38

C. Foreign Exchange Earnings and Outgo:

The foreign exchange earnings and outgo during the year under review are as follows:

Foreign exchange earnings : NIL
Foreign exchange outgo : Rs. 448.00 Lakhs

ANNEXURE – V

FORM NO. AOC-2

(Pursuant to clause (h) of sub-section (3) of section 134 of the act and Rule 8(2) ofthe Companies (Accounts) Rules 2014)

Disclosure of particulars of contracts/arrangements entered into by the Company withrelated parties referred to in subsection (1) of section 188 of the Companies Act 2013including certain arm’s length transactions under third proviso thereto.

1. Details of contracts or arrangements or transactions not at arm’s lengthbasis:

The Company has not entered into any contract or arrangement or transaction which isnot at arm’s length basis during the year under review.

2. Details of contracts or arrangements or transactions at arm’s lengthbasis:

Name(s) of the related party and nature of relationship Nature of contracts/ arrangements/ transactions Duration of the contracts / arrangements/ transactions Salient terms of the contracts or arrangements or transactions including the value if any: Date(s) of approval by the Board if any: Amount in Rs.
Dr. Abburi Vidyasagar Managing Director Husband of A. Sarada Remuneration & perquisites 3 Years w.e.f. 1st April 2013 N.A 31.01.2013 1800000
Smt. Abburi Sarada Director & CFO Wife of Dr. Abburi Vidyasagar Remuneration 3 Years w.e.f. 14.05.2014 N.A 14.05.2014 793548
Smt. Abburi Sarada Director & CFO Wife of Dr. Abburi Vidyasagar Rent Ongoing N.A 30.10.2009 444000

ANNEXURE- VI

FORM NO. MGT 9

EXTRACT OF ANNUAL RETURN

As on financial year ended on 31.03.2015

[Pursuant to Section 92 (3) of the Companies Act 2013 and Rule 12(1) of the Companies

(Management & Administration) Rules 2014]

I. REGISTRATION & OTHER DETAILS:

1 CIN L72200AP1990PLC011334
2 Registration Date 30/05/1990
3 Name of the Company AVANTEL LIMITED
4 Category/Sub-category of the Company Company limited by Shares
Indian Non - Government Company
5 Address of the Registered office & contact details Sy. No.141 plot no.47/P
APIIC Industrial Park Gambheeram(v)
Anandapuram (m) Vishakhapatnam
Andhra Pradesh India - 531163
Phone: +91 - 891 – 6698000.
6 Whether listed Company Yes
7 Name Address & contact details of the Registrar & Transfer Agent if any. M/.s Karvy Computershare Pvt. Ltd
Karvy Selenium Tower B Plot 31-32 Gachibowli
Financial District Nanakramguda
Hyderabad - 500 032
Phones: 040 - 6716 1565
Email: einward.ris@karvy.com

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:

(All the business activities contributing 10 % or more of the total turnover of theCompany shall be stated)

Sl. No. Name and Description of main products / services NIC Code of the Product/service % to total turnover of the Company
1 Telecom Equipment 6190 100

III. PARTICULARS OF HOLDING SUBSIDIARY AND ASSOCIATE COMPANIES:

Sl. No. Name and address of the Company CIN/GLN Holding/ Subsidiary/ Associate % of shares held Applicable Section
1 N.A. N.A. N.A. N.A. N.A.

IV. SHARE HOLDING PATTERN:

(Equity share capital breakup as percentage of total equity)

(i) Category-wise Share Holding:

No. of Shares held at the beginning of the year No. of Shares held at the end of the year
Category of Shareholders Demat Physical Total % of Total Shares Demat Physical Total % of Total Shares % Change during the year
A. Promoters
(1) Indian
a) Individual/ HUF 1666064 - 1666064 39.83 1585215 - 1585215 39.10 -0.73
b) Central Govt - - - 0.00 - - - 0.00 0.00
c) State Govt(s) - - - 0.00 - - - 0.00 0.00
d) Bodies Corp. - - - 0.00 - - - 0.00 0.00
e) Banks / FI - - - 0.00 - - - 0.00 0.00
f) Any other - - - 0.00 - - - 0.00 0.00
Sub Total (A) (1) 1666064 - 1666064 39.83 1585215 - 1585215 39.10 0.73
(2) Foreign
a) NRI Individuals - - - 0.00 - - - 0.00 0.00
b) Other Individuals - - - 0.00 - - - 0.00 0.00
c) Bodies Corp. - - - 0.00 - - - 0.00 0.00
d) Any other - - - 0.00 - - - 0.00 0.00
Sub Total (A) (2) - - - 0.00 - - - 0.00 0.00
TOTAL 1666064 - 1666064 39.83 1585215 - 1585215 39.10 0.73
(A)= A(1)+A(2)
B. Public
Shareholding
1. Institutions
a) Mutual Funds - - - 0.00 - - - 0.00 0.00
b) Banks / FI - - - 0.00 - - - 0.00 0.00
c) Central Govt - - - 0.00 - - - 0.00 0.00
d) State Govt(s) - - - 0.00 - - - 0.00 0.00
e) Venture Capital - - - 0.00 - - - 0.00 0.00
Funds
f) Insurance - - - 0.00 - - - 0.00 0.00
Companies
g) FIIs - - - 0.00 - - - 0.00 0.00
h) Foreign Venture - - - 0.00 - - - 0.00 0.00
Capital Funds
i) Others (specify) - - - 0.00 - - - 0.00 0.00
Sub-total (B)(1): - - - 0.00 - - - 0.00 0.00
2. Non-Institutions
a) Bodies Corp.
i) Indian 286003 400 286403 6.85 354244 400 354644 8.75 1.90
ii) Overseas - - 0.00 - - - 0.00 0.00
b) Individuals
i) Individual shareholders holding nominal share capital upto Rs. 1 lakh 1146679 96244 1243923 29.71 1086669 93944 1180613 29.12 0.59
ii) Individual shareholders holding nominal share capital in excess of Rs 1 lakh 939489 - 939489 22.46 890482 - 890482 21.96 0.50
c) Others (specify)
Non Resident 41756 - 41756 1.00 40484 - 40484 1.00 0.00
Indians
Overseas - - - 0.00 - - - 0.00 0.00
Corporate Bodies
Foreign Nationals - - - 0.00 - - - 0.00 0.00
Clearing Members 6365 - 6365 0.15 3055 - 3055 0.08 0.08
Trusts - - - 0.00 - - - 0.00 0.00
Foreign Bodies- - - - 0.00 - - - 0.00 0.00
D R
Sub-total (B)(2):- 2420292 96644 2516936 60.17 2374934 94344 2469278 60.90 0.73
Total Public ;(B) 2420292 96644 2516936 60.17 2374934 94344 2469278 60.90 0.73
C. Shares held by Custodian for GDRs & ADRs - - - 0.00 - - - 0.00 0.00
Grand Total (A+B+C) 4086356 96644 4183000 100.00 3960149 94344 4054493 100.00 0.00

(ii) Shareholding of Promoter:

Sl. No. Shareholder’s Name Shareholding at the beginning of the year March 2014 Shareholding at the end of the year March 2015
No. of shares % of total shares of the Company % of shares pledged/ encumbered to total shares No. of shares % of total shares of the Company % of shares pledged / encumbered to total shares % change in share holding during the year
1 Abburi Vidyasagar 846720 20.24 0 806720 19.90 0 -0.34
2 Abburi Sidhartha Sagar 294849 7.05 0 274000 6.76 0 -0.29
3 Abburi Sarada 245396 5.87 0 245396 6.05 0 0.18
4 Abburi Sailaja 242479 5.80 0 222479 5.49 0 -0.31
5 Abburi Venkateswara Rao 36620 0.88 0 36620 0.90 0 0.02
Total 1666064 39.84 0 1585215 39.10 0 0.73

(iii) Change in Promoters’ Shareholding (please specify if there is no change):

Sl. No. Particulars Date Shareholding at the beginning of the year Cumulative Shareholding during the year
No. of shares % of total shares No. of shares % of total shares
At the beginning of the year 01.04.2014 1666064 39.83% - 0.00%
29.10.2014 -9285.00 -0.22% 1656779 40.86%
30.10.2014 -12373.00 -0.30% 1644406 40.56%
31.10.2014 -18342.00 -0.44% 1626064 40.11%
25.11.2014 -5959.00 -0.14% 1620105 39.96%
Changes during the year 26.11.2014 -14041.00 -0.34% 1606064 39.61%
28.11.2014 -1301.00 -0.03% 1604763 39.58%
01.12.2014 -5063.00 -0.12% 1599700 39.45%
02.12.2014 -7737.00 -0.18% 1591963 39.26%
03.12.2014 -6748.00 -0.16% 1585215 39.10%
At the end of the year 31.03.2015 0.00% 1585215 39.10%

(iv) Shareholding Pattern of top ten Shareholders:

(Other than Directors Promoters and Holders of GDRs and ADRs)

Sl. No. For each of the top ten shareholders Date Shareholding at the beginning of the year Cumulative Shareholding during the year
No. of shares % of total shares No. of shares % of total shares
1 K Swapna
At the beginning of the year 01.04.2014 282048 6.74
Changes during the year 21.11.2014 17952 0.43 300000 7.40
At the end of the year 31.03.2015 300000 7.40
2 K. Satish
At the beginning of the year 01.04.2014 102759 2.46
Changes during the year 21.11.2014 -17952 -0.43 84807 2.09
At the end of the year 31.03.2015 84807 2.09
3 Hindustan Candle MFG Co. Pvt. Ltd
At the beginning of the year 01.04.2014 70286 1.68 -
Changes during the year N.A. - 0.00 70286 1.73
At the end of the year 31.03.2015 70286 1.73
4 Rajiv Garg*
At the beginning of the year 01.04.2014 - 0.00 -
Changes during the year 09.05.2014 3000 0.00 3000 0.07
23.05.2014 2000 0.00 5000 0.12
20.06.2014 2500 0.00 7500 0.18
30.06.2014 1812 0.00 9312 0.23
04.07.2014 1715 0.00 11027 0.27
11.07.2014 8679 0.00 19706 0.49
18.07.2014 1296 0.00 21002 0.52
29.08.2014 1498 0.00 22500 0.55
05.09.2014 2780 0.00 25280 0.62
30.09.2014 3667 0.00 28947 0.71
03.10.2014 100 0.00 29047 0.72
10.10.2014 2543 0.00 31590 0.78
17.10.2014 6206 0.00 37796 0.93
24.10.2014 2954 0.00 40750 1.01
31.10.2014 250 0.00 41000 1.01
07.11.2014 6 0.00 41006 1.01
23.01.2015 2620 0.00 43626 1.08
30.01.2015 875 0.00 44501 1.10
13.02.2015 499 0.00 45000 1.11
27.02.2015 2000 0.00 47000 1.16
13.03.2015 3000 0.00 50000 1.23
27.03.2015 337 0.00 50337 1.24
31.03.2015 663 0.00 51000 1.26
At the end of the year 31.03.2015 51000 1.26
5 Girish Gulati HUF*
At the beginning of the year 01.04.2014 - 0.00 -
Changes during the year 04.04.2014 6686 0.00 6686 0.16
18.04.2014 141 0.00 6827 0.17
25.04.2014 2755 0.00 9582 0.24
02.05.2014 2447 0.00 12029 0.30
09.05.2014 5793 0.00 17822 0.44
30.05.2014 20029 0.00 37851 0.93
06.06.2014 4318 0.00 42169 1.04
25.07.2014 180 0.00 42349 1.04
01.08.2014 20049 0.00 62398 1.54
08.08.2014 -3000 0.00 59398 1.46
15.08.2014 -500 0.00 58898 1.45
22.08.2014 -3450 0.00 55448 1.37
29.08.2014 -1624 0.00 53824 1.33
21.11.2014 -2107 0.00 51717 1.28
05.12.2014 -1100 0.00 50617 1.25
12.12.2014 -50 0.00 50567 1.25
31.12.2014 -100 0.00 50467 1.24
31.03.2015 -1500 0.00 48967 1.21
At the end of the year 31.03.2015 48967 1.21
6 Nagendra Babu Nagabhyarva
At the beginning of the year 01.04.2014 48000 1.15 -
Changes during the year N.A. - 0.00 48000 1.18
At the end of the year 31.03.2015 48000 1.18
7 Vasudhaiva Kutumbakam Consultancy &
Broking Pvt. Ltd
At the beginning of the year 01.04.2014 47378 1.13 -
Changes during the year 21.11.2014 -2378.00 -0.06 45000 1.11
At the end of the year 31.03.2015 45000 1.11
8 Bilkis Zubair Hawa#
At the beginning of the year 01.04.2014 46700 1.12 -
Changes during the year 09.01.2015 -4660 -0.11 42040 1.04
23.01.2015 -14606 -0.35 27434.00 0.68
30.01.2015 -19139 -0.46 8295.00 0.20
06.02.2015 -8295 -0.20 0.00 0.00
At the end of the year 31.03.2015 0.00 0.00
9 NDA Securities Limited*
At the beginning of the year 01.04.2014 - 0.00 -
Changes during the year 14.11.2014 2000 0.05 2000 0.05
28.11.2014 9300 0.22 11300 0.28
05.12.2014 5550 0.13 16850 0.42
12.12.2014 4170 0.10 21020 0.52
19.12.2014 3370 0.08 24390 0.60
31.12.2014 1300 0.03 25690 0.63
02.01.2015 950 0.02 26640 0.66
09.01.2015 2350 0.06 28990 0.72
16.01.2015 2186 0.05 31176 0.77
13.01.2015 1700 0.04 32876 0.81
30.01.2015 2064 0.05 34940 0.86
06.02.2015 18236 0.44 53176 1.31
13.02.2015 -1050 -0.03 52126 1.29
20.02.2015 -7636 -0.18 44490 1.10
27.02.2015 1934 0.05 46424 1.15
06.03.2015 -200 0.00 46224 1.14
13.03.2015 -3354 -0.08 42870 1.06
20.03.2015 3515 0.08 46385 1.14
27.03.2015 -10500 -0.25 35885 0.89
31.03.2015 8565 0.20 44450 1.10
At the end of the year 31.03.2015 44450 1.10
10 Nilakshi Sodhi
At the beginning of the year 01.04.2014 38210 0.91 -
Changes during the year N.A. - 0.00 38210 0.94
At the end of the year 31.03.2015 38210 0.94
11 Shivani T. Trivedi*
At the beginning of the year 01.04.2014 0 0.00
Changes during the year 13.06.2014 8053 0.19 8053 0.20
20.06.2014 494 0.01 8547 0.21
30.06.2014 147 0.00 8694 0.21
25.07.2014 849 0.02 9543 0.24
08.08.2015 22466 0.54 32009 0.79
15.08.2014 4858 0.12 36867 0.91
At the end of the year 31.03.2015 36867 0.91
12 Vijaylakshmi Jujjavarapu#
At the beginning of the year 01.04.2014 34000 0.81 0
Changes during the year 30.09.2014 -2000 -0.05 32000 0.79
10.10.2014 -1000 -0.02 31000 0.76
31.10.2014 -12648 -0.30 18352 0.45
14.11.2014 -12000 -0.29 6352 0.16
21.11.2014 -3000 -0.07 3352 0.08
At the end of the year 31.03.2015 3352 0.08
13 Jujjavarapu Shruti#
At the beginning of the year 01.04.2014 30000 0.72 0
Changes during the year 30.09.2014 -2000 -0.05 28000 0.69
10.10.2014 -1000 -0.02 27000 0.67
31.10.2014 -3100 -0.07 23900 0.59
At the end of the year 31.03.2015 23900 0.59
14 Ashok Atluri
At the beginning of the year 01.04.2014 28300 0.68 0.00
Changes during the year N.A. 0 0.00 28300 0.70
At the end of the year 31.03.2015 0.00 28300 0.70

* Marked shareholders were not present in the list of top ten shareholders as on01.04.2014 and are reflecting in the above list since they are in the top ten list as on31.03.2015.

# Marked shareholders ceased to be in the list of top ten shareholders as on31.03.2015 however they are reflected in the above list since they were present in thetop ten list as on 01.04.2014

(v) Shareholding of Directors and Key Managerial Personnel:

Shareholding of each
Sl. No. Directors and each Date Shareholding at the beginning of the year Cumulative Shareholding during the year
Key Managerial Personnel No. of shares % of total shares No. of shares % of total shares
1 Dr. Abburi Vidyasagar
At the beginning of the year 01.04.2014 846720 20.24
Changes during the year 29.10.2014 -9285.00 -0.22 837435 20.65
30.10.2014 -12373.00 -0.30 825062 20.35
31.10.2014 -18342.00 -0.44 806720 19.90
At the end of the year 31.03.2015 806720 19.90
2 Abburi Sarada
At the beginning of the year 01.04.2014 245396 5.87
Changes during the year N.A. - 0.00 245396 6.05
At the end of the year 31.03.2015 0.00 245396 6.05
3 Subramanaiya Balakrishnan
At the beginning of the year 01.04.2014 - 0.00 0.00
Changes during the year N.A. - 0.00 - 0.00
At the end of the year 31.03.2015 0.00 - 0.00
4 Naveen Nandigam
At the beginning of the year 01.04.2014 - 0.00 0.00
Changes during the year N.A. - 0.00 - 0.00
At the end of the year 31.03.2015 0.00 - 0.00
5 Yalamanchili Kishore
At the beginning of the year 01.04.2014 - 0.00 0.00
Changes during the year N.A. - 0.00 - 0.00
At the end of the year 31.03.2015 0.00 - 0.00
6 Raghu Prasad Pidikiti
At the beginning of the year 01.04.2014 - 0.00 0.00
Changes during the year N.A. - 0.00 - 0.00
At the end of the year 31.03.2015 0.00 - 0.00
7 Lokesh Agarwal
At the beginning of the year 01.04.2014 - 0.00 0.00
Changes during the year N.A. - 0.00 - 0.00
At the end of the year 31.03.2015 0.00 - 0.00
8 Dr. R. K. Bagga#
At the beginning of the year 01.04.2014 - 0.00 0.00
Changes during the year N.A. - 0.00 - 0.00
At the end of the year 31.03.2015 0.00 - 0.00
#Resigned w.e.f 09.12.2014

V. INDEBTEDNESS:

Indebtedness of the Company including interest outstanding/accrued but not due forpayment.

(Amt. Rs.)

Particulars Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount 105325584 NIL NIL 105325584
ii) Interest due but not paid
iii) Interest accrued but not due
Total (i+ii+iii) 105325584 - - 105325584
Change in Indebtedness during the financial year
* Addition -
* Reduction 12454104 12454104
Net Change (12454104) - - (12454104)
Indebtedness at the end of the financial year
i) Principal Amount 92871480 92871480
ii) Interest due but not paid - -
iii) Interest accrued but not due - -
Total (i+ii+iii) 92871480 - - 92871480

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

A. Remuneration to Managing Director Whole-time Directors and/or Manager:

Sl. No. Particulars of Remuneration Name of MD/ WTD/Manager Total
Name Dr. Abburi Vidyasagar Mrs. Abburi Sarada Amount (In Rs.)
1 Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act 1961 1800000.00 793548.00 2593548.00
(b) Value of perquisites u/s 17(2) Income-tax Act 1961 - - -
(c) Profits in lieu of salary under section 17(3) Income- tax Act 1961 - - -
2 Stock Option - - -
3 Sweat Equity - - -
4 Commission - - -
- as % of profit - - -
- others specify - - -
5 Others please specify - - -
Total (A) 1800000.00 793548.00 2593548.00
Ceiling as per the Act 4200000 .00 4200000 .00 8400000.00

Note:

a) Dr. Abburi Vidyasagar has been re-appointed as Managing Director vied specialresolution passed at 23rd Annual General Meeting of the Company held on 27th July 2013at a remuneration of Rs. 150000/- per month present to the provision of Section 198269 309 and 311 read with schedule XIII and other applicable provision if any of theCompanies Act 1956.

b) Smt. A. Sarada has been appointed has whol-Time Director vide special resolutionpassed at 24th Annual General Meeting of the Company held on 25th September 2014 at aremuneration of Rs. 75000/- per month present to the provison of Section 196 197 and 203read with schedule V and other applicable provision if any of the Companies Act 2013.

B. Remuneration to other Directors:

Sl. No. Particulars of Remuneration Name of Directors Total Amount (Rs.)
1 Independent Directors Shri Y. Kishore Shri N. Naveen Shri Raghu Prasad Pidikiti Shri Subramanaiya Balakrishnan Dr. R. K. Bagga
Fee for attending board committee meetings 87750 108000 7500 N.A 45000 248250.00
Commission - - - - - -
Others please specify - - - - - -
Total (1) 87750 108000 7500 N.A 45000 248250.00
2 Other Non-Executive Directors - - - 45000 - 45000.00
Fee for attending board committee meetings - - - - - -
Commission - - - - - -
Others please specify - - - - - -
Total (2) -
Total (B)=(1+2) 87750 108000 7500 45000 45000 293250.00
Total Managerial Remuneration 2886798
Overall Ceiling as per the Act 12100000

C. Remuneration to Key Managerial Personnel other than MD/Manager/WTD:

Sl. No. Particulars of Remuneration Name of Key Managerial Personnel Total Amount (in Rs)
Name Abburi Sarada Sona Rajora
Designation CEO CFO CS
1 Gross salary - 793548 220000 1013548
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act 1961 - - - -
(b) Value of perquisites u/s 17(2) Income-tax Act 1961 - - - -
(c) Profits in lieu of salary under section 17(3) Income- tax Act 1961 - - - -
2 Stock Option - - - -
3 Sweat Equity - - - -
4 Commission - - - -
- as % of profit - - - -
- others specify - - - -
5 Others please specify - - - -
Total - 793548 220000 1013548

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Type Section of the Companies Act Brief Description Details of Penalty / Punishment/ Compounding fees imposed Authority [RD / NCLT/ COURT] Appeal made if any (give Details)
A. Company
Penalty
Punishment
Compounding
B. DIRECTORS
Penalty

NIL

Punishment
Compounding
C. OTHER OFFICERS IN DEFAULT
Penalty
Punishment
Compounding

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