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Bijoy Hans Ltd.

BSE: 524723 Sector: Others
NSE: N.A. ISIN Code: N.A.
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Bijoy Hans Ltd. (BIJOYHANS) - Director Report

Company director report

To

The Members

BIJOY HANS LIMITED

Your Directors are pleased to present the 32nd Annual Report of your Companytogether with the Audited Statement of Accounts and the Auditor's Report for the financialyear ended 31st March 2017.

1. FINANCIAL RESULTS:-

PARTICULARS 2016-17 (Rs) 2015-16 (Rs)
Profit before depreciation & tax -579825 189920
Less: Depreciation 744759 742820
Less : Provision for income tax - -
Add : Deferred Tax Benefit -35753 14341
Profit for the year

(1360337)

(538559)

Add: Last year Balance 16981381 17519940
Less : Adjustment for Depreciation - -
Balance carried over to next year 15621044 16981381

2. DIVIDEND

In view of the planned business growth your Directors deem it proper to preserve theresources of the Company and therefore do not propose any dividend for the financial yearended 31st March 2017.

3. TRANSFER TO RESERVES

Since the Company has incurred a loss in the current financial year no amount has beentransferred to Reserve & Surplus Account.

4. STATE OF THE COMPANY'S AFFAIRS AND FUTURE OUTLOOK

The Company is engaged in the business of Pharmaceutical Medical and cosmetics goods.There has been no change in the business of the company during the financial year ended31st March 2017.

5. MATERIAL CHANGES AND COMMITMENTS

No material changes and commitments affecting the Financial position of the companyoccurred between the end of the Financial year to which this Financial statements relatesand the date of this report.

6. LOANS GUARANTEES AND INVESTMENTS

There was no loan guarantees or investments made by the Company under Section 186 ofthe Companies Act 2013 during the year under review and hence the said provision is notapplicable.

7. EXTRACT OF ANNUAL RETURN

The extract of Annual Return in Form No. MGT-9 as required under section 92(3) of theCompanies Act 2013 for the Financial Year ending March 31 2017 is annexed hereto asAnnexure-I and forms part of this report.

8. RELATED PARTY DISCLOSURE

All the related party transactions entered into during the financial year ended 31stMarch 2017 were on arm's length price and were in the ordinary course of business.Therefore the provisions of Section 188 of the Companies Act 2013 were not attracted.Further there was no materially significant related party transaction during the yearunder review made by the Company with Promoters Directors Key Managerial Personnel andother designated person which may have a potential conflict with the interest of theCompany at large. Thus disclosure in Form AOC-2 is not required.

9. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGSAND OUTGO:

The company does not attract the provisions of Section 134 (m) of the Companies Act2013. There was no foreign exchange inflow or Outflow during the year under review.

10. DIRECTORS AND KEY MANAGERIAL PERSONNEL

Pursuant to the provisions of section 152 of the Companies Act 2013 and in accordancewith the provisions of the Articles of Association of the Company Sri Ashok KumarPatawari Managing Director of the Company is liable to retire by rotation and beingeligible offers himself for reappointment.

Sri Ashok Kumar Patawari is not disqualified under section 164(2) of the Companies Act2013.

During the year under review Manisha Agarwala was appointed as the Company Secretaryof the Company with effect from 12th August 2016.

11. BOARD EVALUATION

Pursuant to the provisions of the Companies Act 2013 the Board has carried out anannual performance evaluation of its own performance the directors individually as wellas the evaluation of the working of its Audit and Compliance Committees. The manner inwhich the evaluation has been carried out has been explained in the Corporate GovernanceReport.

12. DECLARATION BY AN INDEPENDENT DIRECTOR(S) AND RE- APPOINTMENT IF ANY

The independent directors have submitted declaration that each of them meets thecriteria of independence as provided in Section 149(6) of the Companies Act 2013 andthere has been no change in the circumstances which may affect their status ofindependence.

13. MEETINGS

A calendar of Meetings is prepared and circulated in advance to the Directors. Duringthe year 8 Board Meetings and 4 Audit Committee Meetings were convened and held. Thedetails of which are given in the Corporate Governance Report. The intervening gap betweenthe Meetings was within the period prescribed under the Companies Act 2013.

14. SECRETARIAL AUDIT REPORT

Pursuant to Section 204 of Section 204 of the Companies Act 2013 and the Companies(Appointment and Remuneration of Management Personnel) Rules 2014 Ms Alpana AgarwalCompany Secretaries were appointed as Secretarial Auditor of the Company. The SecretarialAudit Report is annexed as Annexure II and forms part of this report.

15. DEPOSITS

The Company has not accepted any deposits during the year under review.

16. DETAILS OF SUBSIDIARY JOINT VENTURE AND ASSOCIATE COMPANY

The Company does not have any Subsidiary Joint Venture or an Associate Company.

17. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE TRIBUNAL COURTS ANDREGULATORS.

No significant and material orders have been passed by the Tribunals Courts andregulator impacting the going concern status and the Company's operations in future.

18. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS

The Company has in place adequate internal financial controls with reference tofinancial Statements. During the year under review such controls were tested and noreportable material weaknesses in the design or operation were observed.

19. RISK MANAGEMENT

The Company does not have any Risk Management Policy as the elements of riskthreatening the Company's existence are very minimal.

20. CORPORATE GOVERNANCE CERTIFICATE

The Compliance certificate from the auditors regarding compliance of conditions ofcorporate governance as stipulated in Clause 49 of the Listing agreement and as perrelevant provisions of Securities and Exchange Board of India (Listing Obligations andDisclosure Requirements) Regulations 2015 as referred to in Regulation 15(2) of theListing Regulations is annexed with the report.

21. DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITION& REDRESSAL) ACT 2013

The Company is committed to provide a safe and conducive work environment to itsemployees. During the year under review no case of sexual harassment was reported.

22. BOARD'S COMMENTS ON THE AUDITOR'S REPORT

The observations of the statutory auditors when read together with the relevant notesto the accounts and auditing policies are self-explanatory.

23. DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act 2013 the Board of Directors of theCompany confirms that-

1. In preparation of the Annual Accounts for the financial year ended 31stMarch 2017 the applicable Accounting Standards have been followed along with properexplanation to material departures;

2. The Directors have selected such Accounting Policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company at the end of the financial year and ofthe profit or loss of the Company for that period.

3. The Directors have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of this Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities.

4. The Directors have prepared the Annual Accounts on a going concern basis.

5. The Directors had laid down internal financial controls to be followed by theCompany and that such controls are adequate and operating effectively and

6. The Directors had devised proper system to ensure compliance with the provisions ofall applicable laws and that systems were adequate and operating effectively.

24. STATUTORY AUDITORS

As per the provisions of the Companies Act 2013 read with the Companies (Audit andAuditors) Rules 2014 M/s Mohanlal Sharma & Co. Chartered Accountants having heldoffice as Auditor for a period of more than 10 years prior to the commencement of theCompanies Act 2013 were eligible to be appointed as Auditors for a period of three moreyears and were accordingly appointed by the Members in the 29th Annual GeneralMeeting of the Company held on 30.09.2014 for a period of three more years i.e. untilthe conclusion of the 32nd Annual General Meeting of the Company. Accordinglythe Statutory Auditors of the Company M/s Mohanlal Sharma & Co. CharteredAccountants hold office till the conclusion of the ensuing Annual General Meeting of theCompany.

The Board of Directors of the Company has recommended the appointment of M/s Jain Patni& Associates Chartered Accountants (Registration No.328795E) as the StatutoryAuditors of the Company for a term of 5 (five) years (subject to ratification by membersat every Annual General Meeting) to hold office from the conclusion of the 32ndAnnual General Meeting until the conclusion of the 37th Annual General Meetingof the Company.

M/s Jain Patni & Associates Chartered Accountants have expressed theirwillingness to be appointed as Statutory Auditors of the Company. They have furtherconfirmed that the said appointment if made would be within the prescribed limit u/s141(3)(g) of the Companies Act 2013 and that they are not disqualified for appointment.Accordingly their appointment as Statutory Auditors of the Company from the conclusion ofthe 32nd Annual General Meeting until the conclusion of the 37thAnnual General Meeting of the Company is placed for your approval.

25. ACKNOWLEDGEMENTS

Your Directors would like to express their sincere appreciation for the assistance andcooperation received from the financial institutions banks Government authoritiescustomers vendors and members during the year under review. Your Directors also wish toplace on record their deep sense of appreciation for the committed services by theCompany's executives staff and workers.

For and on behalf of the Board of Directors of
BIJOY HANS LIMITED
Place: Guwahati Ashok Kumar Patawari Ashim Kumar Patawari
Date : 17th July 2017 Managing Director Director
DIN: 00154286 DIN: 01972489