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Coral India Finance & Housing Ltd.

BSE: 531556 Sector: Financials
NSE: CORALFINAC ISIN Code: INE558D01013
BSE LIVE 15:40 | 23 Mar 167.05 1.70
(1.03%)
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168.95

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NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 166.00
PREVIOUS CLOSE 165.35
VOLUME 115026
52-Week high 182.20
52-Week low 52.00
P/E 19.65
Mkt Cap.(Rs cr) 166.72
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 166.00
CLOSE 165.35
VOLUME 115026
52-Week high 182.20
52-Week low 52.00
P/E 19.65
Mkt Cap.(Rs cr) 166.72
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Coral India Finance & Housing Ltd. (CORALFINAC) - Director Report

Company director report

Dear Member(s)

Your Directors have pleasure in presenting the 22nd Annual Report together with theAudited Financial Statements for the year ended 31st March 2016.

FINANCIAL RESULTS

The performance during the period ended 31st March 2016 has been as under:

(Rupees in Lacs)

Particulars 2015-16 2014-15
Income 1176.00 1937.00
Expenditure 390.66 635.95
Earning before Tax 785.33 1301.04
Provision for Tax 153.27 270.00
Provision for Deferred Tax 2.43 1.10
Less: Income Tax Adjustments of earlier years 0.12 NIL
Earnings after Tax 634.36 1032.14
Less: Proposed Dividend Tax on Dividend and Adjustment related to Fixed Assets 120.07 119.03
Balance Brought forward 6201.46 5288.35
Balance carried forward to Balance Sheet 6715.75 6201.46

DIVIDEND:

Your Directors are pleased to recommend dividend for the financial year 2015-2016 onthe Equity Shares of the Company of face value of Rs.10.00/- each at the rate of 10% (i.e.Re. 1/- ) per equity share of the Company.

PERFORMANCE:

During the year under review the company posted Revenue of Rs. 1176 lacs as comparedto previous year Rs.1937.00 lacs. However the earnings after tax stood at Rs. 634.36 lacsas compared to Rs.1032.14 lacs during the previous year.

TRANSFER TO RESERVES:

Your Company does not propose to transfer any amount to the General Reserve. An amountof Rs. 514.30 lacs is proposed to be retained in the Statement of Profit and Loss.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

As required under Regulation 34 of the (LISTING OBLIGATIONS AND DISCLOSUREREQUIREMENTS) REGULATIONS 2015 entered with Stock Exchanges the Management Discussionand Analysis Report is enclosed as a part of this report.

DISCLOSURE IN COMPLIANCE WITH THE ACCOUNTING STANDARD ON "RELATED PARTYDISCLOSURES":

As required under Regulation 34 of the (LISTING OBLIGATIONS AND DISCLOSUREREQUIREMENTS) REGULATIONS 2015 with Stock Exchanges the disclosure in compliance withthe accounting standard on "related party disclosures are enclosed as a part of thisreport.

CORPORATE GOVERNANCE AND SHAREHOLDERS INFORMATION:

Your Company has taken adequate steps to adhere to all the stipulations laid down inClause 49 of the Listing Agreement entered into with the Stock Exchange of India for theperiod 1st April 2015 to 30th November 2015 and as per the relevant provisions ofSecurities and Exchange Board of India (Listing Obligations and Disclosure Requirements)Regulations 2015 (collectively referred to as "SEBI Listing Regulations 2015) asreferred in Regulation 15(2) of the listing regulations for the period 1st December 2015to 31st March 2016.

A report on Corporate Governance is included as a part of this Annual Report.

LISTING WITH STOCK EXCHANGES:

The Equity Shares of the Company continues to be listed at Bombay Stock Exchange (BSE)and National Stock Exchange (NSE). The scrip code number of the Equity shares of theCompany on BSE is 531556 and CORALFINAC on NSE. The Company is not trading on NSE. TheCompany confirms that it has paid the Annual Listing Fees for the year 2015-16 to BSE andNSE where the Company’s Shares are listed.

DEMATERIALIZATION:

The Equity shares of the Company can be held in dematerialized form. The Company hassigned the tripartite agreement with National Securities Depository Limited and CentralDepository Services (India) Limited and existing Registrar & Transfer Agent fordematerialization of existing holding of the shareholders.

The International Securities Identification Number allotted to the Company isINE558D01013. The equity shares of the Company are listed at Bombay Stock Exchange Limitedand National Stock Exchange.

93.41% of the company’s paid up Equity Share Capital is in dematerialized form ason 31st March 2016 and balance 6.59% is in physical form. The Company’s Registrar isLink Intime India Private LimitedC-13 Pannalal Silk Mills Compound L. B. S. MargBhandup (West) Mumbai - 400 078.

PUBLIC DEPOSIT:

Your Company has neither accepted nor renewed any deposit within the meaning of Section73 and other applicable provisions if any of the Companies Act 2013 and the necessaryrules made there under during the year ended 31st March 2016.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS:

The particulars of loans guarantees and investment have been disclosed in the notes tothe financial statements.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company has an Internal Control System commensurate with the size scale andcomplexity of its operations and the nature of its business for the purchase ofinventories fixed assets and for the sale of goods. There is no continuing failure tocorrect major weaknesses in internal control system.

CORPORATE SOCIAL RESPONSIBILITY (CSR):

The Company is committed to good Corporate Citizenship. As a part of its corporatesocial responsibility the Company continues to undertake a range of activities includingpreventive healthcare. The CSR policy of the Company is placed on the website of thewww.coralhousing.in/investors.

During the year under review the Company was supposed to spent Rs. 26 93756/- on itsvarious CSR activities whereas the Company could only spend Rs. 1047301/- during theyear under review. Further the Company is still in the process of identifying the rightavenue for spending more on various CSR activities.

In accordance with the provisions of Section 135 of the Companies Act 2013 anabstract on Company’s CSR activities is furnished as Annexure E to this report.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO:

(A) Conservation of energy:

Considering the nature of business activities carried out by the Company yourDirectors have nothing to report with regard to conservation of energy as required underthe Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988.

(B) Technology absorption:

The management keeps itself abreast of the technological advancements in the industryand has adopted the state of the art transaction billing and accounting systems and alsorisk management solutions.

(C) Foreign exchange earnings and Outgo: a) The foreign exchange earnings –Nil (previous year Nil). b) The foreign exchange expenditure – Nil (previous yearNil).

STATE OF AFFAIRS:

During the year under review your Company enjoyed cordial relationship with workersand employees at all levels.

DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP):

(i) Changes in Directors and Key Managerial Personnel (KMP):

(a) During the year under review Mrs. Ami Shah resigned as the Director of the Companyand Mrs. Sheela Kamdar was appointed as Non-Executive independent Director. At the Boardmeeting held on 11th February 2016 your Company has appointed Mrs. Hirali Shah as‘Company Secretary (CS)’ and ‘Key Management Personnel (KMP)’ of theCompany.

(b) In accordance with the provision of Section 152(6) (a) of the Companies Act 2013and the Articles of Association of the Company Mr. Navin. B. Doshi (DIN: 00232287) of theCompany retires by rotation at the ensuing Annual General Meeting and being eligibleoffers himself for reappointment. Your Board recommends his reappointment.

DECLARATION OF INDEPENDENCE:

Your Company has received declarations from all the Independent Directors confirmingthat they meet the criteria of independence as prescribed under the provisions ofCompanies Act 2013.

BOARD 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 and as perRegulation 17(1) of the Listing Obligations and Disclosure Requirements Regulations 2015.

The performance of the Board was evaluated by the Board after seeking inputs from allthe Directors on the basis of the criteria such as the Board composition and structureeffectiveness of board processes information and functioning etc.

The performance of the committees was evaluated by the board after seeking inputs fromthe committee members on the basis of the criteria such as the composition of committeeseffectiveness of committee meetings etc.

The Board and the Nomination and Remuneration Committee ("NRC") reviewed theperformance of the individual Directors on the basis of the criteria such as thecontribution of the individual Director to the Board and committee meetings likepreparedness on the issues to be discussed meaningful and constructive contribution andinputs in meetings etc.

In a separate meeting of independent Directors performance of non-independentDirectors performance of the Board as a whole and performance of the Chairman wasevaluated 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.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

Your company has an effective internal control and risk – mitigation system whichare constantly assessed and strengthened with new/revised standard operating procedures.The Company’s internal control system is commensurate with its size scale andcomplexities of its operations. The internal and operational audit is entrusted to Mr.Arvind Rajput. The main thrust of internal audit is to test and review controls appraisalof risks and business processes besides benchmarking controls with best practices in theindustry.

The Audit Committee of the Board of Directors actively reviews the adequacy andeffectiveness of the internal control systems and suggests improvements to strengthen thesame. The Company has a robust Management Information System which is an integral part ofthe control mechanism.

The Audit Committee of the Board of Directors Statutory Auditors and the BusinessHeads are periodically apprised of the internal audit findings and corrective actionstaken. Audit plays a key role in providing assurance to the Board of Directors.Significant audit observation and corrective actions taken by the management are presentedto the Audit Committee of the Board. To maintain its objectivity and independence theinternal Audit function reports to the Chairman of the Audit Committee.

DISCLOSURE RELATING TO REMUNERATION OF DIRECTORS KEY MANAGERIAL PERSONNEL ANDPARTICULARS OF EMPLOYEES:

The information required under Section 197 of the Companies Act 2013 read withCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 in respect ofDirectors/ employees of your Company is set out in "Annexure [C]" to thisReport.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 134(3)(c) of the Companies Act 2013 Directors of your Companyhereby state and confirm that

(a) In the preparation of the Annual Accounts for the year ended 31st March 2016 theapplicable accounting standards had been followed along with proper explanation relatingto material departures;

(b) The Directors had 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 and loss of the company for that period;

(c) The Directors had 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;

(d) The Directors had prepared the Annual Accounts on a going concern basis; and

(e) The Directors had laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate and were operatingeffectively.

(f) They have devised proper systems to ensure compliance with the provisions of allapplicable laws and that such systems were adequate and operating effectively.

COMMITTEES:

(i) Audit Committee:

The Board has constituted a well-qualified Audit Committee with majority of them areIndependent Directors including Chairperson. They possess sound knowledge on accountsaudit finance taxation internal controls etc. Mrs. Sheela Kamdar Director acts asChairperson to the Audit Committee.

The Composition of Audit Committee comprises the following:

Sr. No. Name of the Director Designation in Committee Nature of Directorship
1. Mrs. Sheela Kamdar Chairperson Non-Executive (Independent)
2. Dr. Sharad R. Mehta Member Non-Executive (Independent)
3. Mr. Sachin Doshi Member Non-Executive

(ii) Nomination and Remuneration Committee:

The Composition of Nomination and Remuneration Committee comprises the following:

Sr. No. Name of the Director Designation in Committee Nature of Directorship
1. Mrs. Sheela Kamdar Chairperson Non-Executive (Independent)
2. Dr. Sharad R. Mehta Member Non-Executive (Independent)
3. Mr. Sachin Doshi Member Non-Executive

(iii) Stakeholders Relationship Committee:

The Composition of Stakeholders Relationship Committee comprises the following:

Sr. No. Name of the Director Designation in Committee Nature of Directorship
1. Mrs. Sheela Kamdar Chairperson Non-Executive (Independent)
2. Dr. Sharad R. Mehta Member Non-Executive (Independent)
3. Mr. Sachin Doshi Member Non-Executive

AUDITORS AND AUDITORS’ REPORT:

STATUTORY AUDITORS:

M/s. M. A. Parekh & Associates Chartered Accountants having (Registration number121973W) Mumbai the Statutory Auditors of the Company hold the office up to theconclusion of the ensuing Annual General Meeting and being eligible offers themselves forre-appointment for the financial year 2016-2017. Your Company has received written consentand a certificate stating that they satisfy the criteria provided under Section 141 of theCompanies Act 2013 read with the Companies (Audit and Auditors) Rules 2014 and that theappointment if made shall be in accordance with the applicable provisions of theCompanies Act 2013 and rules issued there under.

As required under Regulation 18 read with Part C of Schedule II of the SEBI (ListingObligations and Disclosure Requirements) Regulations 2015 the Audit Committee and theBoard of Directors recommend the appointment of M/s. M. A. Parekh & AssociatesChartered Accountants as the Auditors of your Company for the financial year 2016- 17till the conclusion of the next AGM. The Auditors’ Report for the financial year2015-16 does not contain any qualification reservation or adverse remark.

AUDITORS’ REPORT/ SECRETARIAL AUDIT REPORT:

The Auditors have referred to certain routine matters in their report and therespective notes to the accounts are self-explanatory.

As required under Section 204 of the Companies Act 2013 read with the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 your Company hasappointed M/S Uma Lodha & Co. Practicing Company Secretary to conduct the SecretarialAudit of your Company. Certain reservations and observations made in the report withregard to 100 percent of Promoters Shares are not in Demat form. The Company has alreadyinitiated the process of demating the balance physical holding of Promoter’s Shares.However the Company would ensure in future that all the provisions are complied with tothe fullest extent.

SECRETARIAL AUDIT:

Pursuant to the provisions of Section 204 of the Companies Act 2013 read with theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 your Companyhas appointed M/S Uma Lodha & Co. Practicing Company Secretary to conduct theSecretarial Audit of your Company. The Secretarial Audit Report is annexed herewith as"Annexure - [B]" to this Report.

EXTRACT OF THE ANNUAL RETURN:

Pursuant to Section 92(3) of the Companies Act 2013 and Rule 12(1) of the Companies(Management and Administration) Rule 2014 the Extract of Annual Return (Form No. MGT-9)as on the financial year ended on 31st March 2016 is enclosed as "Annexure –[A]" to the Directors’ Report.

NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS AND AUDIT COMMITTEES:

Your Board of Directors has duly met Six (06) times during the financial year i.e. on27th May 2015 28th July 2015 30th September 2015 09th October 2015 03rd November2015 and 11th February 2016 respectively in respect of which proper notices were givenand the proceedings were properly recorded and signed in the Minutes Book maintained forthe purpose. The intervening gap between the Meetings was within the period prescribedunder the Companies Act 2013.

The Audit Committee has duly met Six (6) times during the financial year i.e. on 27thMay 2015 28th July 2015 30th September 2015 09th October 2015 03rd November 2015and 11th February 2016 respectively in respect of which proper notices were given and theproceedings were properly recorded and signed in the Minutes Book maintained for thepurpose.

VIGIL MECHANISM/WHISTLE BLOWER POLICY:

In pursuant to the provisions of section 177(9) & (10) of the Companies Act 2013and Regulation 22 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 a Vigil Mechanism for Directors and employees to report genuineconcerns has been established.

The purpose of the "Whistle Blower Policy" is to allow employees to raiseconcerns about unacceptable improper or unethical practices being followed in theorganization. They will be protected against any adverse action and/or discrimination as aresult of such a reporting provided it is justified and made in good faith. TheChairperson of the Audit Committee has been designated for the purpose of receiving andrecording any complaints under this policy.

The Vigil Mechanism Policy has been uploaded on the website of the Company athttp://www.coralhousing.in/pdf/Policies/Whistle-Blower-Policy.pdf

RELATED PARTY TRANSACTIONS:

All related party transactions that were entered into during the financial year were inthe ordinary course of the business. There are no materially significant related partytransactions made by the company with Promoters Key Managerial Personnel or otherdesignated persons which may have potential conflict with interest of the company atlarge.

Transactions with related parties entered by the Company in the normal course ofbusiness are periodically placed before the Audit Committee for its omnibus approval andthe particulars of contracts entered during the year as per Form AOC-2 is enclosed asAnnexure-D. The Board of Directors of the Company has on the recommendation of the AuditCommittee adopted a policy to regulate transactions between the Company and its RelatedParties in compliance with the applicable provisions of the Companies Act 2013 the Rulesthere under and the Listing Agreement. This Policy was considered and approved by theBoard has been uploaded on the website of the Company athttp://www.coralhousing.in/pdf/Policies/Related-Party-Transaction-Policy.pdf

CODE OF CONDUCT:

The Board of Directors has approved a Code of Conduct which is applicable to theMembers of the Board and all employees in the course of day to day business operations ofthe company. The Company believes in "Zero Tolerance" against briberycorruption and unethical dealings / behaviors of any form and the Board has laid down thedirectives to counter such acts. The code laid down by the Board is known as "code ofbusiness conduct" which forms an Appendix to the Code. The Code has been posted onthe Company’s website http://www.coralhousing.in/pdf/Policies/Code-of-Conduct.pdf

The Code lays down the standard procedure of business conduct which is expected to befollowed by the Directors and the designated employees in their business dealings and inparticular on matters relating to integrity in the work place in business practices andin dealing with stakeholders. The Code gives guidance through examples on the expectedbehavior from an employee in a given situation and the reporting structure.

All the Board Members and the Senior Management personnel have confirmed compliancewith the Code. All Management Staff were given appropriate training in this regard.

RISK MANAGEMENT:

Pursuant to Section 134(3)(n) of the Companies Act 2013 & Regulation 21 of theSEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 the Company isnot required to constitute a business risk management committee. Hence it is notapplicable to the company for the year under review.

At present the company has not identified any element of risk which may threaten theexistence of the company.

PREVENTION OF INSIDER TRADING:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a viewto regulate trading in securities by the Directors and designated employees of theCompany. The Code requires pre-clearance for dealing in the Company’s shares andprohibits the purchase or sale of Company shares by the Directors and the designatedemployees while in possession of unpublished price sensitive information in relation tothe Company and during the period when the Trading Window is closed. The Board isresponsible for implementation of the Code.

All Board of Directors and the designated employees have confirmed compliance with theCode.

SIGNIFICANT/MATERIAL ORDERS PASSED BY THE REGULATORS:

Subsequent to the cancellation of the certificate of registration granted to thecompany to carry business as Non-Banking Financial Institution (NBFC) has during the yearsurrendered the original certificate to Reserve Bank of India on 30th July 2015.

General a) Your Company has not issued Equity Shares with differential rights as todividend voting or otherwise; and b) Your Company does not have any ESOP scheme for itsemployees/Directors.

DISCLOSURE AS PER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITION ANDREDRESSAL) ACT 2013:

The Company has zero tolerance for sexual harassment at workplace and has adopted apolicy against sexual harassment in line with the provisions of Sexual Harassment of Womenat Workplace (Prevention Prohibition and Redressal) Act 2013 and the rules framedthereunder.

During the financial year 2015-16 the company has not received any complaints on sexualharassment and hence no complaints remain pending as of 31 March 2016.

ACKNOWLEDGMENT:

We take this opportunity to express our deep sense of gratitude to Securities andExchange Board of India BSE Limited (BSE) National Stock Exchange of India Limited(NSE) Registrar of Companies National Securities Depository Limited Central DepositoryServices (India) Limited M/s. Link Intime India Private Limited Bankers GovernmentAgencies and shareholders for their continued support.

By Order of the Board
For Coral India Finance & Housing Limited
sd/- sd/-
Navin B. Doshi Sachin N. Doshi
Managing Director Director & Chief Financial Officer
(DIN : 00232287) (DIN : 00259986)
Place : Mumbai
Date : 10th August 2016

Form No. MGT-9

[Pursuant to Section 92(3) of the Companies Act 2013 and Rule 12(1) of the Companies(Management and Administration) Rules 2014]

I REGISTRATION AND OTHER DETAILS:

1. Corporate Identity Number (CIN) L67190MH1995PLC084306
2. Registration Date 04/01/1995
3. Name of the Company Coral India Finance and Housing Limited
4. Category/Sub-Category of the Company Company Limited by Shares
Indian Non- Government Company
5. Address of the Registered Office and contact details Dalamal House 4th Floor J. B. Marg Nariman Point Mumbai-400021. Contact : 022-22853910 / 11
6. Whether listed Company (Yes/No) YES
7. Name Address and Contact details of Registrar and Transfer Agent if any Link Intime India Private Limited
C-13 Pannalal Silk Mill Compound
L.B.S. Marg Bhandup(west) Mumbai- 400078
Contact : 022-25946970

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:

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

Name and Description of main products/services NIC Code of the product /service % to the total turnover of the Company
Investment 66 77.78%
Construction 41 22.22%

III. PARTICULARS OF HOLDING SUBSIDIARY AND ASSOCIATE COMPANIES:

Name and Address of the Company CIN/GIN the Company Holding/ Subsidiary of the Company % of Shares held Applicable Section
NIL

IV. SHAREHOLDING PATERN (Equity Share Capital Breakup as Percentage of Total Equity)

i. Category-wise Share Holding

No. of shares held at the beginning

No. of shares held at the end

of the year i.e 01.04.2015

of the year i.e 31.03.2016

%
Category of Shareholders A. Promoters Demat Physical Total % of Total Shares Demat Physical Total % of Total Shares Change during the year
1) Indian
a) Individual/HUF 5920509 38020 5958529 59.73 6078509 20 6078529 60.93 1.2
b) Central Govt. 0 0 0 0 0 0 0 0 -
c) State Govt.(s) 0 0 0 0 0 0 0 0 -
d) Bodies Corporate 1096000 203200 1299200 13.02 1299200 0 1299200 13.02 -
e) Banks/FI 0 0 0 0 0 0 0 0 -
f) Any Other. 0 0 0 0 0 0 0 0 -
Sub-Total (A) (1) 7016509 241220 7257729 72.75 7377709 20 7377729 73.95 1.2
(2) Foreign
a) NRIs- Individuals 0 0 0 0 0 0 0 0 -
b) Other-Individuals 0 0 0 0 0 0 0 0 -
c) Bodies Corp. 0 0 0 0 0 0 0 0 -
d) Banks/FI 0 0 0 0 0 0 0 0 -
e) Any Other. 0 0 0 0 0 0 0 0 -
Sub-total (A)(2) 0 0 0 0 0 0 0 0 -
Total Shareholding of 7016509 241220 7257729 72.75 7377709 20 7377729 73.95 1.2
Promote (A) =
(A) (1)+(A)(2)
B. Public Shareholding
1. Institutions
a) Mutual Funds 0 0 0 0 0 0 0 0 -
b) Bank/FI 0 0 0 0 0 0 0 0 -
c) Central Govt. 0 0 0 0 0 0 0 0 -
d) State Govt(s) 0 0 0 0 0 0 0 0 -
e) Venture Capital Funds 0 0 0 0 0 0 0 0 -
f) Insurance Companies 0 0 0 0 0 0 0 0 -
g) FIIs 0 0 0 0 0 0 0 0 -
h) Foreign Venture 0 0 0 0 0 0 0 0 -
Capital Funds
i) Others (specify) 0 0 0 0 0 0 0 0 -
Sub-Total (B)(1)- 0 0 0 0 0 0 0 0 -

 

2. Non-Institutions
a) Bodies Corp.
i) Indian 952201 103800 1056001 10.59 856087 0 856087 8.58 (2.01)
ii) Overseas 0 0 0 0 0 0 0 0 --
b) Individuals
i) Individual shareholders holding nominal share capital up to Rs.1 lakh. 735437 349690 1085127 10.88 764410 335690 1100100 11.03 0.15
ii) Individual shareholders holding nominal share capital in excess of Rs.1 lakh 230066 300000 530066 5.31 238047 300000 538047 5.39 0.08
c) Others
Any Other(specify) Director/ relative 0 5200 5200 0.05 0 0 0 0 --
Non– Resident Indians 15846 20900 36746 0.37 14731 20900 35631 0.35 (0.02)
Non- Resident (NonRepatriable) 921 0 921 0.01 1135 0 1135 0.01 --
Hindu Undivided Family 1722 0 1722 0.02 22820 0 22820 0.23 0.21
Clearing Member/ Market Maker 2288 0 2288 0.02 44251 0 44251 0.44 0.42
Sub-Total (B)(2) 1938481 779590 2718071 27.25 1941481 656590 2598071 0 --
Total Public Shareholding (B)= (B)(1)+(B)(2) 1938481 779590 2718071 27.25 1941481 656590 2598071 0 --
C. Shares held by Custodian for GDRs & ADRs 0 0 0 0 0 0 0 0 --
Grand Total (A+B+C) 8954990 1020810 9975800 100 9319190 656610 9975800 100 -

ii) Shareholding of Promoters

Shareholding at the beginning of the year i.e. 01-04-2015

Shareholding at the end of the year i.e. 31-03-2016
Shareholder’s Name 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 / encumered to total shares % change in share holding during the year
Kundan Navinchandra Doshi 1775068 17.79 0 1775068 17.79 0 -
Navin Bachubhai Doshi 2041156 20.46 0 2041156 20.46 0 -
Coral Laboratories Limited 1299200 13.02 0 1299200 13.02 0 -
Chetan Navinchandra Doshi 1190859 11.94 0 1190859 11.94 0 -
Sachin Navinchandra Doshi 913426 9.16 0 1033426 10.36 0 1.2
Meeta Sameer Sheth 37020 0.37 0 38020 0.38 0 0.01
TOTAL 7257729 72.74 0 7377729 73.96 0 1.21

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

Shareholding at the beginning of the year i.e. 01-04-2015

Cumulative Shareholding during the year i.e. 31-03-2016

No. of shares % of total shares of the Company No. of shares % of total shares of the Company
Meeta Sameer Sheth
At the beginning of the year 37020 0.37 1000 0.01
At the end of the year 38020 0.38 -- --
Sachin Navinchandra Doshi
At the beginning of the year 913426 9.16 120000 1.21
At the end of the year 1033426 10.36 -- --

iv) Shareholding Pattern of top ten Shareholders (other than Directors Promoters andHolders of GDRs and ADRs):

Shareholding at the beginning of the year i.e. 01-04-2015

Cumulative Shareholding during the year i.e. 31-03-2016

For Each of the Top 10 Shareholders No. of shares % of total shares of the Company No. of shares % of total shares of the Company
Noetic Finance Private Limited 671199 6.7283 668391 6.7001
Asit Surendra Thakkar 100000 1.0024 100000 1.0024
Tejal A Thakkar Dattani 106757 1.0702 100000 1.0024
DWD Pharmaceuticals Ltd 85500 0.8571 84800 0.8501
D Thakkar Constructions Private Limited 223633 2.2418 55543 0.5568
Sikka Indra NIL NIL 50090 0.5021
Sheela Mukesh Shah 50000 0.5012 50000 0.5012
Mukesh L Shah 50000 0.5012 50000 0.5012
Unique StockBro Pvt. Ltd. (Beneficiary A/c) NIL NIL 41039 0.4114
Jigar Praveen ThakkarDattani 42000 0.4210 39430 0.3953

v) Shareholding of Directors and Key Managerial Personnel:

Shareholding at the beginning of the year i.e. 01-04-2015

Cumulative Shareholding during the year i.e. 31-03-2016

For Each of the Directors and KMP No. of shares % of total shares of the Company No. of shares % of total shares of the Company
Mr. Navin B. Doshi
At the beginning of the year 2041156 20.46 2041156 20.46
Date wise Increase / Decrease in Shareholding during the year specifying the reason for increase / decrease (e.g. allotment/transfer/bonus/sweat equity etc. - - NIL NIL
At the End of the year 2041156 20.46 -- --
Mr. Sachin N. Doshi
At the beginning of the year 913426 9.16 120000 1.21
At the End of the year 1033426 10.36 -- --
Mr. Sharad R. Mehta
At the beginning of the year 200 0.00 -- --
Date wise Increase / Decrease in Shareholding during the year specifying the reason for increase / decrease (e.g. allotment/transfer/bonus/sweat equity etc. - - 0 0
At the End of the year 200 0.00 200 0.00
Ms. Ami M. Shah
At the beginning of the year NIL NIL NIL NIL
Date wise Increase / Decrease in Shareholding during the year specifying the reason for increase / decrease (e.g. allotment/transfer/bonus/sweat equity etc. - - - -
At the End of the year NIL NIL NIL NIL
Mrs. Sheela Kamdar
At the beginning of the year NIL NIL NIL NIL
Date wise Increase / Decrease in Shareholding during the year specifying the reason for increase / decrease (e.g. allotment/transfer/bonus/sweat equity etc. - - - -
At the End of the year NIL NIL NIL NIL
Mrs. Hirali Shah
At the beginning of the year NIL NIL NIL NIL
Date wise Increase / Decrease in Shareholding during the year specifying the reason for increase / decrease (e.g. allotment/transfer/bonus/sweat equity etc. - - - -
At the End of the year NIL NIL NIL NIL

V. INDEBTEDNESS: The Company has no indebtedness with respect to secured andunsecured loans or deposits during the financial year 2015-16

VI. REMUNERATION OF DIRECTOS AND KEY MANAGERIAL PERSONNEL:

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

Particulars of Remuneration Mr. Navin B. Doshi Name of MD/WTD/Manager Managing Director Total Amount (Rs. In lacs)
Gross Salary
(a) Salary as per provisions contained in 2400000 2400000
Section 17(1) of the Income-tax Act 1961
(b) Value of perquisites u/s17(2) Income-tax Act 1961 NIL NIL
(c) Profits in lieu of salary under section 17(3) NIL NIL
Income-tax Act 1961
Stock Option NIL NIL
Sweat Equity NIL NIL
Commission NIL NIL
- As % of Profit NIL NIL
- Others specify NIL NIL
Others please specify (Bonus) NIL NIL
Ceiling as per the Act 8400000 8400000
Total 2400000 2400000

B. Remuneration of other Directors:

I Independent Directors:

Particulars of Remuneration Name of Directors Total Amount (Rs. In lacs)
Dr. Sharad R. Mehta Ms. Ami Shah Mrs. Sheela Kamdar
Fees for attending Board / Committee 12000 Nil 12000 24000
meetings
Commission Nil Nil Nil Nil
Others Nil Nil Nil Nil
Total (1) 12000 Nil 12000 24000

II. Other Non-Executive Directors:

Particulars of Remuneration Name of Directors
Other Non-Executive Directors Mr. Sachin N. Doshi (Director/CFO)
Fees for attending Board Committee meetings Nil
Commission Nil
Others (Remuneration) 3000000
Total (2) Nil
Total B = (1+2) Nil
Ceiling as per the Act 4200000

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

Particulars of Remuneration

Key Managerial Personnel

Gross Salary CEO Company Secretary Ms. Manorama Yadav (Resigned on 09th October 2015) Company Secretary Mrs. Hirali Shah (Appointed w.e.f 11th February 2016) Director/CFO (Mr. Sachin N. Doshi) Total
(a) Salary as per provisions contained in Section 17(1) of the Income-tax Act 1961 Nil 130197 89445 3000000 3219642
(b) Value of perquisites u/s17(2) Income-tax Act 1961 Nil Nil Nil Nil Nil
(c) Profits in lieu of salary under section 17(3) Income-tax Act 1961 Nil Nil Nil Nil Nil
Stock Option Nil Nil Nil Nil Nil
Sweat Equity Nil Nil Nil Nil Nil
Commission Nil Nil Nil Nil Nil
- As % of Profit
- Others specify
Others please specify (Bonus) Nil Nil Nil Nil Nil
Total Nil 130197 89445 3000000 3219642

VII. PENALTIES/PUNISHMENT/COMPOUNDING OF OFFENCES: NIL

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 NOT APPLICABLE
Compounding
B. DIRECTORS
Penalty
Punishment NOT APPLICABLE
Compounding
C. OTHER OFFICERS IN DEFAULT
Penalty
Punishment NOT APPLICABLE
Compounding

 

By Order of the Board
For Coral India Finance & Housing Limited
sd/-
NAVIN B. DOSHI
Place : Mumbai Managing Director
Date : 10th August 2016 (DIN : 00232287)