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Bloom Dekor Ltd.

BSE: 526225 Sector: Others
NSE: N.A. ISIN Code: INE253C01013
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OPEN 64.50
CLOSE 59.25
VOLUME 550
52-Week high 84.90
52-Week low 36.20
P/E
Mkt Cap.(Rs cr) 43
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Bloom Dekor Ltd. (BLOOMDEKOR) - Director Report

Company director report

To the Members(s)

The Board of Directors hereby submits the report of the business and operations of yourCompany (‘the Company’ or ‘Bloom’) along with the audited financialstatements for the financial year ended March 31 2017.

Financial Results: (Amt in Rs)

Particulars F.Y. 2016-17 F.Y. 2015-16
Revenue from operations 684807948 619516478
Other Income 4912112 4019167
Total Income 689720060 623535645
Operating expenditure before Finance cost depreciation and 652867445 569599483
amortization
Earnings before Finance cost depreciation and amortization 53936162 53936162
(EBITDA)
Less: Finance costs 42001208 53752664
Depreciation and amortization expense 23484660 24882239
Profit before tax (28633253) (24698741)
Less: Tax expense (4229159) (5766319)
Profit for the year (PAT) (24404094) (18932422)
Balance brought forward from previous year 39340937 58273359
Balance carried to balance sheet 14936846 39340937

YEAR AT A GLANCE: Financial Performance:

The Net revenue from operations increased to Rs 6848.08 lakh as against Rs 6195.16 Lakhin the previous Year showing escalation of 10.54% due to increase in domestic sales oflaminates& door by 15.63%.

The loss before Tax for the current year is Rs 286.33 lakh as against the loss beforetax of Rs 246.99 lakh in the previous year resulted into loss after tax of Rs 244.04 Lakhcompared to loss after tax of previous yearRs 189.32 Lakh.

The reason for going down in the profit after tax is increase in the employment costand raw material consumption cost as well due to increase in price of raw Material in thefinancial year 2016-17.

During the financial year 2016-17 the company’s major loss is attributed to theInvestments made to lay the foundation for a revenue enhancement strategy along withsustainable growth to enter the 100 crores league in terms of top line. Strategic andcalculated decisions have been taken to enhance the business model in order to competewith the market leaders in terms of product delivery and service. As part of thisstrategy the company has opened up its own depots carrying full stock at various newlocations thereby afiecting the inventory in the short term but giving it a hugecompetitive advantage in the longer run.

Dividend:

In view of loss during the financial year 2016-17 your Directors regret to declare anydividend for the financial year 2016-17 (previous year Nil).

The details of total amount lying in the unclaimed Dividend account of the Company ason March 31 2017 are given below;

Financial year Date of declaration of dividend Amount per Equity share Dividend payment (%) Due date for claiming Dividend
(in Rs.)
2014-15 August 11 2015 0.60 6% August 10 2022
2012-13 September 28 2013 0.80 8% September 27 2020

The Details of Shareholders whose Dividend is unpaid or unclaimed are uploaded on theWebsite of the Company at www.bloomdekor.com.

Amount transferred to reserve:

During the year the Company has not apportioned any amount to other reserve. The lossincurred during the year has been adjusted against the carry forward credit balance ofProfit and Loss account.

Change in Nature of Business:

During the year your Company has not changed its business or object and continues tobe in the same line of business as per main object of the Company.

BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL: Constitution of Board:

The Board of the Company comprises five Directors out of which two are PromoterExecutive Directors one is promoter non-executive Director and two are non-promoterIndependent Directors. As on the date of this report the Board comprises followingDirectors;

Name of Director Category Cum Designation Date of Appointment at current Term & designation Total Directorship~ No. of Committee^ No. of Shares held as on
in which in which
Director is Members Director is Chairman March 31 2017
Dr. Sunil Gupta Managing Director September 1 2017 3 - - 2184908
(Promoter) Equity Shares
Mr. Karan Gupta Executive Director April 1 2017 2 2 - 344704
(Promoter Group) Equity Shares
Mrs. Brinda Gupta Non-Executive Director September 1 2017 1 - - 32500 Equity
(Promoter Group) Shares
Mr. Mayur Parikh$ Non-Executive September 27 2014 7 3 5 -
Independent Director
Mr. Ashok Gandhi Non-Executive Independent Director September 27 2014 5 7 1 -

^ Committee includes Audit Committee and Shareholders’ Grievances Committee acrossall Public Companies.

~ excluding Section 8 Company & struck ofi Company and includes Bloom Dekor Limited$ acting as the Chairman of the Company.

The composition of Board complies with the requirements Section 149 of the CompaniesAct 2013. Further in pursuance of Regulation 15(2) of SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 ("Listing Regulations") the Companyis exempted from requirement of having composition of Board as per Listing Regulations.

None of the Directors of Board is a member of more than ten Committees or Chairman ofmore than five committees across all the Public companies in which they are Director. Thenecessary disclosures regarding Committee positions have been made by all the Directors.

Board Meeting:

Regular meetings of the Board are held at least once in a quarter inter-alia toreview the quarterly results of the Company. Additional Board meetings are convened asand when require to discuss and decide on various business policies strategies and otherbusinesses. The Board meetings are generally held at corporate Office of the Company.

During the year under review Board of Directors of the Company met 4 times viz May17 2016 August 13 2016 November 14 2016 and February 11 2017.

The details of attendance of each Director at the Board Meeting and Annual GeneralMeeting are given below;

Name of Director Dr. Sunil Mr. Karan Mrs. Brinda Mr. Mayur Mr. Ashok
Gupta Gupta Gupta Parikh Gandhi
No. of Board Meeting held 4 4 4 4 4
No. of Board Meeting attended 4 4 4 4 4
Presence at the previous AGM Yes Yes Yes Yes Yes

During the year the Board of Directors has also passed certain resolutions throughcirculation in compliance of Section 175 of the Companies Act 2013. All such resolutionspassed through circulation have been noted in subsequent Board Meeting and form part ofminutes of such meetings.

Independent Directors:

In terms of Section 149 of the Companies Act 2013 and rules made there under theCompany has two Non-Promoter Independent Directors in line with the Companies Act 2013. Aseparate meeting of Independent Directors was held on February 11 2017 to review theperformance of Non-Independent Directors and Board as whole and performance of Chairpersonof the Company including assessment of quality quantity and timeliness of fiow ofinformation between Company management and Board. The terms and conditions of appointmentof Independent Directors and Code for Independent Director are incorporated on the websiteof the Company at www.bloomdekor.com.

The Company has received necessary declaration from each independent director underSection 149 (7) of the Companies Act 2013 that they meet the criteria of independencelaid down in Section 149 (6) of the Companies Act 2013.

Information on Directorate:

During the financial year 2016-17 Mrs. Rupal Gupta whose term of Office had expiredon April 30 2016 has resigned from the Board. The Board of Directors in their Meetingheld on May 17 2016 has appointed Mrs. Brinda Gupta as an Additional (Executive)Director w.e.f. May 1 2016. Further in terms of Section 161 she was eligible to holdOffice as such up to the date of ensuing Annual General Meeting. The Members of theCompany has appointed Mrs. Brinda Gupta as Whole-Time Director designed as ExecutiveDirector of the Company for a period of 3 years w.e.f. September 23 2016. In additionher designation has been changed to Non-Executive Directors cum Chief Financial Officerw.e.f. September 1 2017.

Further the Members of the Company in their Annual General Meeting held on September27 2014 have reappointed Dr. Sunil Gupta as Managing Director of the Company for aperiod of 3 years w.e.f. September 1 2014. In the same manner Mr. Karan Gupta was alsoappointed as Executive Director of the Company for a period of 3 years w.e.f. April 12014. The tenure of appointment of Mr. Karan Gupta and Dr. Sunil Gupta expired andtherefore the Board of Directors has proposed re-appointment of them for further period of3 years. The resolutions to that efiect have been proposed for the approval of theMembers. The Board of Directors recommends their reappointment on the Board of theCompany.

Further in accordance with the provisions of the Articles of Association and Section152 of the Companies Act 2013 Mr. Karan Gupta retires by rotation at the ensuing annualgeneral meeting. He being eligible has ofiered himself for re-appointment as such. TheBoard of Directors recommends his re-appointment on the Board.

The relevant details as required under Regulation 36 (3) of SEBI (Listing Obligationsand Disclosure Requirements) Regulations 2015 ("SEBI Listing Regulations") ofthe person seeking re-appointment/ appointment as Director are also annexed to the Noticeconvening the annual general meeting.

None of the Director of the Company is serving as a Whole-Time Director in any ListedCompany and is holding position of Independent Director in more than 3 Listed Company andnone of the Director of the Company is holding position as Independent Director in morethan 7 Listed Company. Further none of the Directors of the Company is disqualified forbeing appointed as Director as specified in Section 164 (2) of the Companies Act 2013.

Key Managerial Personnel:

In accordance with Section 203 of the Companies Act 2013 the Company has Dr. SunilGupta who is acting as Managing Director of the Company. Further the Company hasappointed Mr. Tushar Donda as the Company Secretary and Compliance Officer of the Company.Moreover Mrs. Brinda Gupta has been appointed as Non-Executive Directors cum ChiefFinancial Officer.

During the year Mr. Prakash Daga who was appointed as Chief Financial Officer of theCompany w.e.f. May 1 2016 has resigned from the post w.e.f. March 31 2017. The Board ofDirectors places appreciation to Mr. Prakash Daga for his contribution to the managementof the Company.

Moreover Ms. Shivangi Gajjar who was acting as Company Secretary of the Company hasresigned from the post w.e.f. January 31 2017 and the Board has in place has appointedMr. Tushar Donda as Company Secretary and Compliance Officer of the Company.

Performance Evaluation:

The Board of Directors has carried out an annual evaluation of its own performanceboard committees and individual directors pursuant to the provisions of the Act.

o The performance of the board was evaluated by the board after seeking inputs fromall the directors on the basis of the criteria such as the board composition andstructure efiectiveness of board processes information and functioning etc.

o The performance of the committees was evaluated by the board after seeking inputsfrom the committee members on the basis of the criteria such as the composition ofcommittees effectiveness of committee meetings etc.

o The board and the nomination and remuneration committee reviewed the performance ofthe individual directors on the basis of the criteria such as the contribution of theindividual director to the board and committee meetings like preparedness on the issues tobe discussed meaningful and constructive contribution and inputs in meetings etc.

o In addition the chairman was also evaluated on the key aspects of his role.

Separate meeting of independent directors was held to evaluate the performance ofnon-independent directors performance of the board as a whole and performance of thechairman taking into account the views of executive directors and non-executivedirectors. The same was discussed in the board meeting that followed the meeting of theindependent directors at which the performance of the board its committees andindividual directors was also discussed. Performance evaluation of independent directorswas done by the entire board excluding the independent director being evaluated.

Directors’ Responsibility Statement:

Pursuant to section 134(5) of the Companies Act 2013 the board of directors to thebest of their knowledge and ability confirm that:

a) In preparation of annual accounts for the year ended March 31 2017 the applicable accounting standards have been followed and that no material departures have been made from the same;
b) The Directors had 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 afiairs of the Company at the end of the financial year and of the profit or loss of the Company for that year;
c) The Directors had taken proper and suficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
d) The Directors had prepared the annual accounts for the year ended March 31 2017 on going concern basis.
e) The Directors had laid down the internal financial controls to be followed by the Company and that such Internal Financial Controls are adequate and were operating efiectively; and
f) The Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating efiectively.

COMMITTEES OF BOARD:

The Board of Directors in line with the requirement of the act has formed variouscommittees details of which are given hereunder.

A. Audit Committee:

The Company has formed audit committee in line with the provisions Section 177 of theCompanies Act 2013. Audit Committee meeting is generally held one in quarter for thepurpose of recommending the quarterly/half yearly/ yearly financial result and the gapbetween two meetings did not exceed one hundred and twenty days. Additional meeting isheld for the purpose of reviewing the specific item included in terms of reference of theCommittee. During the year under review Audit Committee met 4 (Four) times on May 172016 August 13 2016 November 14 2016 and February 11 2017.

The composition of the Committee and the details of meetings attended by its membersare given below:

Name Designation

Number of meetings during the financial year 2016-17

Held Attended
Mr. Mayur Parikh Chairman 4 4
Mr. Ashok Gandhi Member 4 4
Mr. Karan Gupta Member 4 4

The Statutory Auditors and Internal Auditors of the Company are invited in the meetingof the Committee wherever requires. Chief Financial Officer of the Company is a regularinvitee at the Meeting. Further the Company Secretary of the Company is acting asSecretary to the Audit Committee.

Mr. Mayur Parikh the Chairman of the Committee had attended last Annual GeneralMeeting of the Company held on September 23 2016.

Recommendations of Audit Committee have been accepted by the Board wherever given.

Vigil Mechanism:

The Company has established a vigil mechanism and accordingly framed a Whistle BlowerPolicy. The policy enables the employees to report to the management instances ofunethical behavior actual or suspected fraud or violation of Company’s Code ofConduct. Further the mechanism adopted by the Company encourages the Whistle Blower toreport genuine concerns or grievances and provide for adequate safe guards againstvictimization of the Whistle Blower who avails of such mechanism and also provides fordirect access to the Chairman of the Audit Committee in exceptional cases. Thefunctioning of vigil mechanism is reviewed by the Audit Committee from time to time. Noneof the Whistle blowers has been denied access to the Audit Committee of the Board. TheWhistle Blower Policy of the Company is available on the website of the Company atwww.bloomdekor.com.

B. Nomination and Remuneration Committee:

The Company has formed Nomination and Remuneration committee in line with theprovisions of Section 178 of the Companies Act 2013. Nomination and RemunerationCommittee meetingsare generally held for identifying the persons who are qualified tobecome Directors and may be appointed in senior management and recommending theirappointments and removal. During the year under review Nomination and RemunerationCommittee met 3 (Three) times on May 17 2016 August 13 2016 and February 11 2017.

The composition of the Committee and the details of meetings attended by its membersare given below:

Name Designation

Number of meetings during the financial year 2016-17

Held Attended
Mr. Mayur Parikh Chairman 3 3
Mr. Ashok Gandhi Member 3 3
Mr. Karan Gupta Member 3 3

Further the Board of Directors has changed constitution of the Committee w.e.f.September 1 2017 by inducting Mrs. Brinda Gupta as member of the Committee in plance ofMr. Karan Gupta.

Nomination and Remuneration Policy:

Nomination and Remuneration Policy in the Company is designed to create a highperformance culture. It enables the Company to attract motivated and retained manpower incompetitive market and to harmonize the aspirations of human resources consistent withthe goals of the Company. The Company pays remuneration by way of salary benefitsperquisites and allowances to its Managing Director and the Executive Directors. Annualincrements are decided by the Nomination and Remuneration Committee within the salaryscale approved by the members and are efiective from April 1 of each year.

Key points of the Nomination and Remuneration Policy are; a. Policy on Appointmentof Directors Key Managerial Personnel and Senior Management Personnel:

o The policy is formulated to identify and ascertain the integrity qualificationexpertise and experience of the person for appointment as Director Key ManagerialPersonnel and Senior Management personnel and recommend to the Board for his / herappointment.

o A person should possess adequate qualification expertise and experience for theposition he/ she is considered for appointment.

o In case of appointment of Independent Director the Committee shall satisfy itselfwith regard to the independent nature of the Director vis--vis the Company so as toenable the Board to discharge its function and duties efiectively.

b. Policy on remuneration of Director KMP and Senior Management Personnel:

The Company’s remuneration policy is driven by the success and performance ofDirector KMP and Senior Management Personnel vis--vis the Company. The Company’sphilosophy is to align them with adequate compensation so that the compensation is used asa strategic tool that helps us to attract retain and motivate highly talented individualswho are committed to the core value of the Company. The Company follows mixed of fixedpay benefits and performance based variable pay. The Company pays remuneration by way ofsalary benefits perquisites and allowance. The remuneration and sitting fees paid by theCompany are within the salary scale approved by the Board and Shareholders. The Nominationand Remuneration Policy as adopted by the Board of Directors is placed on the website ofthe Company at www.bloomdekor.com.

Remuneration of Directors:

The details of remuneration/sitting fees paid during the financial year 2016-17 toManaging Director/ Executive Director/Director of the Company is provided in Form MGT-9which is the part of this report. C. Stakeholder’s Grievance & RelationshipCommittee: The Company has constituted Stakeholder’s Grievance & RelationshipCommittee mainly to focus on the redressal of Shareholders’ / Investors’Grievances if any like Transfer / Transmission / Demat of Shares; Loss of ShareCertificates; Non-receipt of Annual Report; Dividend Warrants; etc. During the year underreview Stakeholder’s Grievance & Relationship Committee met 4 (Four) times onMay 17 2016 August 13 2016 November 14 2016 and February 11 2017.

The composition of the Committee and the details of meetings attended by its membersare given below:

Name Designation

Number of meetings during the financial year 2016-17

Held Attended
Mr. Mayur Parikh Chairman 4 4
Mr. Ashok Gandhi Member 4 4
Mr. Karan Gupta Member 4 4

Company Secretary and Compliance Officer of the Company provides secretarial support tothe Committee.

PUBLIC DEPOSITS:

The Company has not accepted any deposits from Shareholders and Public falling withinthe ambit of Section 73 of the Companies Act 2013 and rules made there under. There wereno deposits which were claimed and remained unpaid by the Company as on March 31 2017.

SHARE CAPITAL:

The Paid up Equity Share Capital as at March 31 2017 stood at Rs 685 Lakh. During theyear under review the Company has not issued any Share Capital.

PARTICULARS OF LOANS GUARANTEES AND INVESTMENTS

Details of Loans Guarantees and Investments covered under the provisions of Section186 of the Companies Act 2013 are given in the notes to the Financial Statement.

TRANSACTIONS WITH RELATED PARTIES:

The Company has entered into transaction with our KMP’s which are falling withinthe purview of Section 188 of the Act for which requisite approval of Board is taken.However transaction entered with Companies wherein Directors are interested is atarm’s length basis and in ordinary course of business hence no approval from theBoard or Shareholders is required. Information on transactions with related partiespursuant to section 134 (3) (h) of the Act read with rule 8 (2) of the Companies(Accounts) Rules 2014 are given in Annexure I in Form AOC-2 and the same formspart of this report.

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The details on Internal Financial Control and their adequacy are provided in ManagementDiscussion and Analysis Report.

MATERIAL CHANGES AND COMMITMENT:

There are no material changes and commitments afiecting the financial position of theCompany have occurred between the ends of financial year of the Company i.e. March 312017 to the date of this Report.

PARTICULAR OF EMPLOYEES:

In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3)of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 astatement showing the names and other particulars of the employees drawing remuneration inexcess of the limits set out in the said rules will be available for inspection at theRegistered Office of the Company during working hours and any member interested inobtaining such information may write to the Company Secretary and the same will befurnished on request.

Having regard to the provisions of the first proviso to Section 136(1) of the Act andas advised the Annual Report excluding the aforesaid information is being sent to themembers of the Company. Disclosures relating to remuneration and other details as requiredunder Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment andRemuneration of Managerial Personnel) Rules 2014 are provided as an "Annexure– II" which forms part of this Report.

EXTRACT OF ANNUAL RETURN:

As provided under section 92(3) of the Act the extract of annual return is given in AnnexureIII in the prescribed Form MGT-9 which forms part of this report.

SEXUAL HARASSMENT OF WOMEN AT WORKPLACE:

To foster a positive workplace environment free from harassment of any nature we haveinstitutionalized the Anti-Sexual Harassment Initiative (ASHI) framework through which weaddress complaints of sexual harassment at the all workplaces of the Company. Our policyassures discretion and guarantees non-retaliation to complainants. We follow agender-neutral approach in handling complaints of sexual harassment and we are compliantwith the law of the land where we operate. We have also constituted an Internal ComplaintsCommittee (ICC) to consider and address sexual harassment complaints in accordance withthe Sexual Harassment of Women at Workplace (Prevention Prohibition and Redressal) Act2013. During the year under review there were no incidences of sexual harassmentreported.

RISK MANAGEMENT

A well-defined risk management mechanism covering the risk mapping and trend analysisrisk exposure potential impact and risk mitigation process is in place. The objective ofthe mechanism is to minimize the impact of risks identified and taking advance actions tomitigate it. The mechanism works on the principles of probability of occurrence andimpact if triggered. A detailed exercise is being carried out to identify evaluatemonitor and manage both business and non-business risks.

ENERGY CONSERVATION TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

Information on conservation of energy technology absorption foreign exchange earningsand outgo as required to be disclosed under section 134 (3) (m) of the Act read with theCompanies (Accounts) Rules 2014 are provided as an Annexure IV.

CORPORATE GOVERNANCE:

Your Company strives to incorporate the appropriate standards for corporate governancealthough the Company is not required to follow certain Regulations of Listing Regulationsas the Company is fulfilling the exemption criteria provided in Regulation 15 (2) of theListing Regulation.

However Company is complying with few of the exempted regulations voluntarily anddetails of same are provided in this report under the respective heading.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

Management Discussion and Analysis Report for the year under review as stipulatedunder Schedule V of the Listing Regulations is presented in a separate section formingpart of this Annual Report.

STATUTORY AUDITOR AND THEIR REPORT:

Members of the Company in their 24th annual general meeting have appointedM/s. Dharmendra Shah & Co. Chartered Accountants Ahmedabad (FRN: 102474W0) as theStatutory Auditors of the Company to hold Office for a term five consecutive yearssubject to ratification of appointment at every annual general meeting. However M/s.Dharmendra Shah & Co. Chartered Accountants Ahmedabad (FRN: 102474W0) have expressedtheir unwillingness to be re-appointed and tendered resigation vide their letter datedAugust 16 2017.

Your Company has received letter M/s. Parikh & Majmudar Chartered Accountants(Firm Registration No. 107525W) expressing their willingness to be appointed and to theefiect that their appointment if made would be within the prescribed limits undersection 141(3)(g) of the Companies Act 2013 and that they are not disqualified forappointment. The matter will be placed for consideration of members in Annual GeneralMeeting. The Audit Committe and Board of Directors have recommended their appointment asStatutory Auditor to hold Office from the conculsion 26th Annual General Meeting till theconclusion of 31st Annual General Meeting subject to ratification of appointment at everysubsequent Annual General Meeting.

The Audit for the financial year 2016-17 has been carried out by M/s. Dharmendra Shah& Co. Chartered Accountants Ahmedabad. The Auditors’ Report for financial year2016-17 is self explanatory and does not contain any qualification reservation or adverseremark. The Auditors’ Report is enclosed with the financial statements in this AnnualReport.

REPORTING OF FRAUD:

The Auditors of the Company have not reported any fraud as specified under Section143(12) of the Companies Act 2013.

SECRETARIAL AUDITOR AND THIEIR REPORT:

The Company has appointed Mr. Anand Lavingia Practicing Company Secretaries toconduct the secretarial audit of the Company for the financial year 2016-17 as requiredunder Section 204 of the Companies Act 2013 and Rules thereunder. The Secretarial AuditReport for the financial year 2016-17 is annexed to this report as an Annexure V.The secretarial audit report contains remark that the Company needs one more non executivedirector to have a proper balance of executive and non executive directors. The Board ofDirectors states that the Company was identifying suitable person for appointment as nonexecutive directors. In fact the Board of Directors has appointed Mrs. Brinda Gupta as NonExecutive Director cum Chief Financial Officer.

GENERAL DISCLOSURE:

Your Directors state that the Company has made disclosures in this report for the itemsprescribed in section 134 (3) of the Act and Rule 8 of The Companies (Accounts) Rules2014 and other applicable provisions of the act and listing regulations to the extent thetransactions took place on those items during the year. Your Directors further state thatno disclosure or reporting is required in respect of the following items as there were notransactions on these items during the year under review;

(i) Issue of Equity Shares with difierential rights as to dividend voting or otherwise;
(ii) Issue of shares (including sweat equity shares) to employees of the Company under any scheme save and
ESOS;
(iii) Annual Report and other compliances on Corporate Social Responsibility;
(iv) There is no revision in the Board Report or Financial Statement;
(v) No significant or material orders were passed by the Regulators or Courts or Tribunals which impact the
going concern status and Company’s operations in future;
(vi) Information on subsidiary associate and joint venture companies.

ACKNOWLEDGEMENT:

Your Directors wish to place on record their sincere appreciation for significantcontributions made by the employees at all levels through their dedication hard work andcommitment enabling the Company to achieve good performance during the year under review.Your Directors also take this opportunity to place on record the valuable co-operation andsupport extended by the banks government business associates and the shareholders fortheir continued confidence reposed in the Company and look forward to having the samesupport in all future endeavors.

For and on behalf of Board of Directors
Bloom Dekor Limited
Dr. Sunil Gupta Karan Gupta
Place : Ahmedabad Managing Director Executive Director
Date : September 1 2017 DIN 00012572 DIN 03435462