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Cranex Ltd.

BSE: 522001 Sector: Engineering
NSE: N.A. ISIN Code: INE608B01010
BSE LIVE 15:15 | 09 Dec 11.73 0.43
(3.81%)
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11.73

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11.73

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NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 11.73
PREVIOUS CLOSE 11.30
VOLUME 3946
52-Week high 12.50
52-Week low 7.65
P/E 16.76
Mkt Cap.(Rs cr) 7.04
Buy Price 11.72
Buy Qty 156.00
Sell Price 0.00
Sell Qty 0.00
OPEN 11.73
CLOSE 11.30
VOLUME 3946
52-Week high 12.50
52-Week low 7.65
P/E 16.76
Mkt Cap.(Rs cr) 7.04
Buy Price 11.72
Buy Qty 156.00
Sell Price 0.00
Sell Qty 0.00

Cranex Ltd. (CRANEX) - Director Report

Company director report

To

Dear Members

The Directors have pleasure in presenting the 40th Annual Report on the business andoperations of the Company together with the financial results for the period ended 31stMarch 2015.

FINANCIAL RESULTS

Financial results are presented in the table below:

(Amount in Rupees)
Current year ended Previous year ended
(12 months) (12 months)
31-03-2015 31-03-2014
1. Gross Revenue 216958924 144540762
2. Profit before interest & Depreciation 10750820 10041238
3. Interest (Working Capital) 3438164 3188806
4. Profit after Interest but before depreciation 7312656 6852432
5. Depreciation 1337906 1844899
6. Profit/loss after depreciation 5974750 5007533
7. Exceptional Items 0 0
8. Profit before Extra ordinary items & tax 5974750 5007533
9. Extra ordinary items 0 0
10. Profit before tax 5974750 5007533
11. Provision for tax 1764090 1704720
12. Profit/loss after tax 4210660 3302813
Earnings per share (face value Rs.10/-)
Basic 0.70 0.55
Diluted 0.70 0.55

The above figures have been regrouped /reclassified as necessary as per the RevisedSchedule VI of the Companies Act 2013. The financial figures given in the attachedBalance Sheet and Profit & Loss A/c have also been regrouped /reclassified asnecessary.

COMPANY'S PERFORMANCE

The overall performance for the financial year ended 31st March 2015 was satisfactory.The profits of company earned during the year were amounted to Rs. 4210660/-. Howeveryour Directors are confident that the company will do much better in future and trying itslevel best to further improve its performance.

DIVIDENDS

Keeping in view the present financial position of the company your Directors do notrecommend any dividend for the year ended 31st March 2015.

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:

i. in the preparation of the annual accounts the applicable accounting standards havebeen followed and there are no material departures;

ii. they have selected such accounting policies and applied them consistently and madejudgments and estimates that are reasonable and prudent so as to give a true and fair viewof the state of affairs of the Company at the end of the financial year and of the profitof the Company for that period;

iii. they have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;

iv. they have prepared the annual accounts on a going concern basis;

v. they have laid down internal financial controls to be followed by the Company andsuch internal financial controls are adequate and operating effectively;

vi. they have devised proper systems to ensure compliance with the provisions of allapplicable laws and that such systems were adequate and operating effectively.

Based on the framework of internal financial controls and compliance systemsestablished and maintained by the Company work performed by the internal statutory andsecretarial auditors and external consultants and the reviews performed by management andthe relevant board committees including the audit committee the board is of the opinionthat the Company's internal financial controls were adequate and effective during thefinancial year 2014-15.

POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION AND OTHER DETAILS

The Company's policy on directors' appointment and remuneration and other mattersprovided in Section 178(3) of the Act has been disclosed in website of company.

INTERNAL FINANACIAL CONTROL SYSTEM

According to Section 134(5) (e) of the Companies Act 2013 the term Internal FinancialControl (IFC) means the policies and procedures adopted by the company for ensuring theorderly and efficient conduct of its business including adherence to company's policiesthe safeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information.

The Company has a well-placed proper and adequate internal financial control systemwhich ensures that all assets are safeguarded and protected and that the transactions areauthorised recorded and reported correctly. The Company's internal financial controlsystem also comprises due compliances with Company's policies and Standard OperatingProcedures (SOPs) and audit and compliance by in-house Internal Audit Divisionsupplemented by internal audit checks from M/s. Kudsia & Associates ChartedAccountants the Internal Auditors. The Internal Auditors independently evaluate theadequacy of internal controls and concurrently audit the majority of the transactions invalue terms. Independence of the audit and compliance is ensured by direct reporting ofInternal Audit Division and Internal Auditors to the Audit Committee of the Board.

NUMBER OF MEETINGS OF THE BOARD

Eight meetings of the board were held during the year. For details of the meetings ofthe board please refer to the Corporate Governance report which forms part of thisreport.

COMMITTEES OF THE BOARD

Detailed information on the Board and its Committees is provided in the Report onCorporate Governance forming part of this Annual Report.

MANDATORY COMMITTEE

Audit Committee

As at March 31 2015 the Audit Committee comprised of Two Independent Directorsnamely Mr. Maman Chand Jain & Mr. Ashwani Kumar Jindal and one Non-Executive Directornamely Mr. Amitabh Agrawal. Mr. Maman Chand Jain is the Chairman of the Audit Committee.All the recommendations made by the Audit Committee were accepted by the Board.

Nomination and Remuneration Committee

As at March 31 2015 the Nomination and Remuneration Committee comprised of TwoIndependent Directors namely Mr. Maman Chand Jain & Mr. Ashwani Kumar Jindal and oneNon-Executive Director namely Mr. Amitabh Agrawal. Mr. Maman Chand Jain is the Chairmanof the Nomination and Remuneration Committee.

Stakeholders Relationship Committee

As at March 31 2015 the Stakeholders Relationship Committee comprised of TwoIndependent Directors namely Mr. Maman Chand Jain & Mr. Ashwani Kumar Jindal and oneNon-Executive Director namely Mr. Amitabh Agrawal. Mr. Ashwani Kumar Jindal is theChairman of the Stakeholders Relationship Committee.

Risk Management Committee

As at March 31 2015 the Risk Management Committee comprised of One Whole TimeDirectors namely Mr. Chaitanya Agrawal and one Non-Executive Director namely Mr. AmitabhAgrawal. Mr. Chaitanya Agrawal is the Chairman of the Risk Management Committee.

NON-MANDATORY COMMITTEE

Management Committee

As at March 31 2015 the Management Committee comprised of one Executive Directornamely Mr. Suresh Chandra Agrawal one Managing Director namely Mr. Piyush Agrawal oneWhole Time Directors namely Mr. Chaitanya Agrawal and one Independent Director Mr.Ashwani Kumar Jindal. Mr. Piyush Agrawal is the Chairman of the Management Committee.

EXTRACT OF ANNUAL RETURN

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

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

Disclosures pertaining to remuneration and other details as required under Section197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014 form part of this Report and are annexed as Annexure II.There are no employees who are drawing remuneration in excess of the limits as set out inprovisions of Section 197(12) of the Act and the Companies (Appointment and Remunerationof Managerial Personnel) Rules 2014.

EMPLOYEES BENEFITS

Retirement benefit in the form of provident fund is a defined contribution scheme. Thecontributions to the provident fund are charged to the statement to the profit and lossfor the year when the contributions are due.

Pending determination of liability for gratuity payable no provision has been made inthe accounts for expenses of gratuity. The expenditure on account of gratuity is accountedin the year of payment. On account of non provision of gratuity payable the profit hasbeen over stated but the same cannot be quantified in absence of exact amount payableunder this account

CODES STANDARDS AND POLICIES AND COMPLIANCES THEREUNDER

CODE OF CONDUCT FOR THE BOARD OF DIRECTORS AND THE SENIOR MANAGEMENT PERSONNEL

Your Company has adopted a Code of Conduct for its Board of Directors and the SeniorManagement Personnel. The Code requires the Directors and employees of the Company to acthonestly ethically and with integrity and in a professional and respectful manner. Duringthe year under review the Code of Conduct was revised as per the revised Clause 49 of theListing Agreement. A Chief Financial Officer with regard to compliance with the said codeforms part of this Annual Report.

CODE FOR PROHIBITION OF INSIDER TRADING PRACTICES

Your Company has in place a Code for Prevention of Insider Trading Practices inaccordance with the Model Code of Conduct as prescribed under Securities and ExchangeBoard of India (Prohibition of Insider Trading) Regulations 1992 as amended and has dulycomplied with the provisions of the said code. The details of the same are provided inCorporate Governance Report forming part of this Annual Report.

PREVENTION PROHIBITION & REDRESSAL OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

The Company has in place a Policy on Prevention Prohibition & Redressal of SexualHarassment of Women at Workplace and an Internal Complaints Committee (ICC) has beenconstituted thereunder. The primary objective of the said Policy is to protect the womenemployees from sexual harassment at the place of work and also provides for punishment incase of false and malicious representations. The details of the same are provided inCorporate Governance Report forming part of this Annual Report.

NOMINATION REMUNERATION & EVALUATION POLICY

The Board has on the recommendation of the Nomination & Remuneration Committeeframed a Nomination Remuneration & Evaluation Policy which inter-alia lays down thecriteria for identifying the persons who are qualified to be appointed as Directors and/orSenior Management Personnel of the Company alongwith the criteria for determination ofremuneration of Directors KMPs and other employees and their evaluation and includesother matters as prescribed under the provisions of Section178 of Companies Act 2013 andClause 49 of the Listing Agreement. The details of the same are provided in CorporateGovernance Report forming part of this Annual Report.

DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT

Cranex Limited has in place comprehensive risk assessment and minimization procedureswhich are reviewed by the Board periodically. During the year as per the requirements ofListing Agreement with the Stock Exchanges a Risk Management Committee was constituted bythe Board of Directors in its meeting held on 14th November 2014 with the responsibilityof preparation of Risk Management Plan reviewing and monitoring the same on regularbasis to identify and review critical risks on regular basis to update Risk Register onquarterly basis to report key changes in critical risks to the Board on an ongoing basisto report critical risks to Audit Committee in detail on yearly basis and such otherfunctions as may be prescribed by the Board.

Further the Company identifies risks and control systems are instituted to ensurethat the risks in each business process are mitigated. The one Chief Risk Officer (CRO)Mr. Ajay Pradhan is responsible for the overall risk governance in the Company and reportsdirectly to the Risk Management Committee which consists of various functional heads. TheBoard provides oversight and reviews the Risk Management Policy on a quarterly basis.

In the opinion of the Board there has been no identification of elements of risk thatmay threaten the existence of the Company.

DISCLOSURE ON WHISTLE-BLOWER POLICY /VIGIL MECHANISM

The Company has established a vigil mechanism and formulated Whistle-Blower Policy inthe meeting of Board of Directors held on held 14th November 2014 through whichDirectors employees and business associates may report unethical behavior malpracticeswrongful conduct fraud violation of Company's code of conduct without fear of reprisal.The Company has set up a Direct Touch initiative under which all Directors employeesbusiness associates have direct access to the Chairman of the Audit Committee and also toa three-member direct touch team established for this purpose. The direct touch teamcomprises one senior woman member so that women employees of the Company feel free andsecure while lodging their complaints under the policy. Further information on the subjectcan be referred in Corporate Governance Report.

SECRETARIAL AUDITORS AND THEIR REPORTS

M/s PARVEEN RASTOGI & CO. Company Secretaries were appointed as SecretarialAuditors of the Company for the financial year 2014-15 pursuant to Section 204 of theCompanies Act 2013. The Secretarial Audit Report submitted by them in the prescribed FormMR- 3 is attached as 'Annexure III' and forms part of this report. There are noqualifications or observations or other remarks of the Secretarial Auditors in the Reportissued by them for the financial year 2014-15 which call for any explanation from theBoard of Directors.

STATUTORY AUDITORS AND THEIR REPORTS

M/s. P.D. Mittal & Co. Chartered Accountants have been appointed as StatutoryAuditors of the Company to hold office from the conclusion of 39th Annual General Meetinguntil the conclusion of 42th Annual General Meeting of the Company to be held in 2017subject to ratification of the appointment by the Members at every subsequent AnnualGeneral Meeting as per the provisions of Companies Act 2013.

There is one observations (including any qualification reservation adverse remark ordisclaimer) of the Auditors in their Audit Report i.e. "accounting standards 22-provision of deferred tax liability either for the current year or in respect of thepast". For this the Board would like to inform that the Company has not createdprovision of deferred tax liability since it will not lead any major financial impact.Further the notes to accounts referred to in the Auditor's Report are self-explanatory.

TRANSACTIONS WITH RELATED PARTIES

Related party transactions entered during the financial year under review are disclosedin Note No.30 of the Financial Statements of the company for the financial year endedMarch 31 2015. These transactions entered were at an arm's length basis and in theordinary course of business. There were no materially significant related partytransactions with the Company's Promoters Directors Management or their relatives whichcould have had a potential conflict with the interests of the Company. Form AOC-2containing the note on the aforesaid related party transactions is enclosed herewith asAnnexure-IV.

The Policy on materiality of related party transactions and dealing with related partytransactions as approved by the Board may be accessed on the Company's website.

PARTICULARS OF LOANS GUARANTEES AND INVESTMENTS

The particulars of loans guarantees and investments have been disclosed in thefinancial statements.

EMPLOYEES STOCK OPTION SCHEME

During the year under review the Company has not allotted any shares under EmployeeStock Option Scheme (ESOS) and hence no disclosure is required to be made in compliancewith Clause 12 of the Securities and Exchange Board of India (Employee Stock Option Schemeand Employee Stock Purchase Scheme) Regulations 1999.

DISCLOSURE REQUIREMENTS

As per Clause 49 of the listing agreements entered into with the stock exchangescorporate governance report with auditors' certificate thereon and management discussionand analysis are attached which form part of this report.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS AND OUTGO

Pursuant to provisions of Section 134 of the Companies Act 2013 read with Rule 8(3) ofthe Companies (Accounts) Rules 2014 the details of Conservation of Energy TechnologyAbsorption Foreign Exchange Earnings and Outgo are as follows:

A. Conservation of Energy

a) Energy conservation measures taken :

• The Company has always been conscious of the need for the conservation of energyand optimum utilisation of available resources and has been steadily making progresstowards this end.

• The company has taken lot of initiatives for reduction in power cost byimproving the production processes. Production process of the company does not requiremuch power.

• There is an optimum ratio of glass windows to utilise natural light and properinsulation / ventilation to balance temperature and reduce heat.

b) Impact of above measures :

• The above measures will results in lower energy consumption significantreduction in Carbon emissions and hedge against continuous energy rate increase.

B. Technology Absorption Adaptation And Innovation

The company has successfully absorbed the technology for the development of various newmodels of the cranes. Your company is constantly improving its technology to match worldstandards which is reflected in the new orders being received from very quality consciouscustomers.

C. Foreign Exchange Earnings and Outgo

S. No. Particulars Current Year Amount (in Rs.) Previous Year Amount (in Rs.)
1. Foreign Exchange Earned 3074905 2761002
2. Foreign Exchange Outgo 780689 4011019

MANAGEMENT DISCUSSION AND ANALYSIS

Management Discussion and Analysis for the year as stipulated under Clause 49 of theListing Agreement is separately given and forms part of this Annual Report provides a moredetailed analysis on the performance of individual businesses and their outlook.

REPORT ON CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of Corporate Governance andadhere to the corporate governance requirements set out by SEBI. The report on CorporateGovernance as stipulated under Clause 49 of the Listing Agreement is separately given andforms part of this Annual Report. The requisite certificate from a Practicing CompanySecretary confirming compliance of the conditions of Corporate Governance is attached tothe Report on Corporate Governance.

DIRECTOR

Mr. Piyush Agrawal Director of the Company retires by rotation and being eligibleoffers himself for reappointment. Your directors solicit your approval for hisreappointment as a director of the Company.

Mr. Anil Jain has resigned from the post of Independent Director w.e.f. 15th December2014

KEY MANAGERIAL PERSONNELS

The Key Managerial Personnel (KMP) in the Company as per Section 2(51) and 203 of theCompanies Act 2013 are as follows:

1. Mr. Piyush Agarwal - (Managing Director)
2. Mr. Chaitanya Agrawal - (Chief Financial officer & Whole Time Director)
3. Ms. Khushboo Verma - (Company Secretary).

During the year under review Mr. Birendra Kumar has resigned from the post of CompanySecretary w.e.f. 31.08.2014. Ms. Khushboo Verma was appointed as Company Secretary of theCompany w.e.f. 31.08.2014 and as Key Managerial Personnel w.e.f. 06.09.2014.

Mr. Chaitanya Agrawal was appointed as a Chief Financial officer & Key ManagerialPersonnel of the of the Company w.e.f. 24.04.2015 under section 203 of the Companies Act2013.

DECLARATION BY INDEPENDENT DIRECTORS

The Independent Directors have submitted the declaration of independence as requiredpursuant to section 149 (7) of the Companies Act 2013 stating that they meet the criteriaof independence as provided in sub-section (6).

MATERIAL CHANGES AND COMMITMENTS

There have been no material changes and commitments affecting the financial positionof the Company which have occurred between the end of the financial year of the Companyand the date of this Report.

CAPITAL STRUCTURE AND LISTING OF SHARES

The paid up equity share capital as on 31st March 2015 was Rs. 60000000/- (Rupees SixCrores). There was no public issue rights issue bonus issue or preferential issue etc.during the year. The Company has not issued shares with differential voting rights sweatequity shares nor has it granted any stock options

The Company's shares are listed on the Bombay Stock Exchange Limited (BSE) and areactively traded. The company has paid the listing fees to Bombay Stock Exchanges for theyear 2015-16.

DEPOSITS FROM PUBLIC

The Company has not accepted any deposits from public and as such no amount on accountof principal or interest on deposits from public was outstanding as on the date of thebalance sheet.

INDUSTRIAL RELATION

The Company maintained healthy cordial and harmonious industrial relations at alllevels. The enthusiasm and unstinting efforts of Employees have enabled the Company atgood position in the industry. It has taken various steps to improve productivity acrossorganization.

ACKNOWLEDGEMENTS

Your Directors place on record their gratitude to the Central Government StateGovernments and Company's Bankers for the assistance co-operation and encouragement theyextended to the Company. Your Directors also wish to place on record their sincere thanksand appreciation for the continuing support and unstinting efforts of investors vendorsdealers business associates and employees in ensuring an excellent all around operationalperformance.

By Order of the Board of Directors
For Cranex Limited
Sd/- Sd/-
(Piyush Agrawal) (Suresh Chandra Agrawal)
Place: New Delhi Managing director Chairman
Date: 07.09.2015 DIN:01761004 DIN:01958471

ANNEXURES TO THE DIRECTOR'S REPORT

Information pursuant to companies (Disclosures of Particulars in Report of Board ofDirectors) Rules 1988 forming part of the Report of the Directors:

Annexure-I

Form No. MGT-9

EXTRACT OF ANNUAL RETURN AS ON THE FINANCIAL YEAR ENDED ON 31ST MARCH 2015 [Pursuantto section 92(3) of the Companies Act 2013 and rule 12(1) of the Companies (Managementand Administration) Rules 2014] I. REGISTRATION AND OTHER DETAILS:

i. CIN L74899DL1973PLC006503
ii. Registration Date 27 Feb. 1973
iii. Nam e of the Company CRANEX LIMITED
iv. Category / Sub-Category of the Company Company Limited by shares / Indian Non-Government Company
v. Address of the Registered office and contact detail s 9 DDA Market Katwaria Sarai New Delhi-1 10016
v i. Whether listed company Yes
Link Intime India Pvt. Ltd.
44 Community Center 2nd Floor
vii. Name Address and Contact details of Registrar and Transfer Agent i f any Naraina Industrial Area Phase- I
New Delhi - 110028
Tel : 011 -4141 0592/93/94
Telefax : 011 -4141 0591
Email : delhi@linkintime.co.in

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

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

S r. No. Name and Description of main products / services NIC Code of the Product/ service % to total turnover of the company
1 Manufacturing of EOT cranes 2915 100%

III. PARTICULARS OF HOLDING SUBSIDIARY AND ASSOCIATE COMPANIES-NIL

Sr. No. Name And Address Of The Company CIN / GLN Holding / Subsidiary / Associate % of shares held Applicable Section
NOT APPLICABLE

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)i. Category-wise Share Holding

Category of Shareholders

No. of Shares held at the beginning of the year

No. of Shares held at the end of the year

Demat Physical Total % of Total Shares Demat Physical Total % of Total Shares % Change during the year
A. Promoter
1) Indian
a) Individual/ HUF 1998549 101530 2100079 35.00 2175139 0 2175139 36.25 1.25
b) Central Govt 0 0 0 0 0 0 0 0 0
c) State Govt(s) 0 0 0 0 0 0 0 0 0
d) Bodies Corp 0 0 0 0 0 0 0 0 0
e) Ban ks / FI 0 0 0 0 0 0 0 0 0
f) Any Other 0 0 0 0 0 0 0 0 0
1998549 101530 2100079 35.00 2175139 0 21751 39 36.25 1.25
Sub-total(A)(1):-
2) Foreign
g) NRIs-Individuals 0 0 0 0 0 0 0 0 0
h) Other-Individual s 0 0 0 0 0 0 0 0 0
i) Bodies Corp. 0 0 0 0 0 0 0 0 0
j) Banks / FI 0 0 0 0 0 0 0 0 0
k) Any Other.... 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0
Sub-total (A)(2):-
B. Public Shareholding
1. Institutions
a) Mutual Funds 0 0 0 0 0 0 0 0
b) Banks / FI 300 22000 22300 0.37 22300 0 22300 0.37 0
c) Central Govt 0 0 0 0 0 0 0 0 0
d) State Govt(s) 0 0 0 0 0 0 0 0 0
e) Venture Capital Funds 0 0 0 0 0 0 0 0 0
f) Insurance Companies 0 0 0 0 0 0 0 0 0
g) FIIs 0 0 0 0 0 0 0 0 0
h) Foreign Venture Capital Funds 0 0 0 0 0 0 0 0 0
i) Others (specify) 0 0 0 0 0 0 0 0 0
300 22000 22300 0.37 22300 0 22300 0.37 0
Sub-total (B)(1)
2. Non Institutions
a) Bodies Corp. 229562 3400 232962 3.88 200505 6500 207005 3.45 (0.43)
(i) Indian
(ii) Overseas
b) Individuals 2247604 4900 2252504 37.54 2141266 9600 2150866 35 .85 (1.69)
(i) Individual shareholders holding nominal share capital upto Rs. 1 lakh
(ii) Individual shareholders holding nominal share capital in excess of Rs 1 lakh 1198993 0 1198993 19.98 1124820 85830 1210650 20.17 0.19
c) Others(Specify)
Non Residents 47908 0 47908 0.80 50793 0 50793 0.84 0.04
Indians
Hindu Undivided 144218 0 144218 2.40 183197 0 183197 3.05 0.65
Families
Clearing Members 1036 0 1036 0.02 50 0 50 0.00083 (0.02)
3869321 8300 3877621 64.63 3700631 101930 3802561 63.37 (1.26)
Sub-total(B)(2) 3869621 30300 3899921 65.00 3700931 123930 3824861 63.75 (1.25)
Total Public Shareholding (B)=(B)(1 )+ (B)(2)
C. Shares held by Custodian for GDRs & ADRs 0 0 0 0 0 0 0 0 0
Grand Total (A+B+C) 5868170 131830 6000000 100 5876070 123930 6000000 100

ii. Sh are h oldin g of Prom oters

Sr. No Shareholder's Name

Shareholding at the beginning of the year

Shareholding at the end of the year

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. P iyush Agrawal 1098549 18.31 0 1272999 2 1.22 0 2.91
2. Suresh Chandra Agrawal 474800 7.91 0 474800 7.91 0 0
3. Amitabh Agrawal 1 01530 1.69 0 0 0 0 (1.69)
4. Ritu Agrawal 2 37345 3.96 0 237345 3.96 0 0
5. Chaitanya Agrawal 1 88000 3.13 0 190000 3.17 0 0.04
Tota l 2 100079 35.00 0 2175139 36.25 0 1.25

iii. C h an g e i n Prom oters' Sh areh ol di n g

Sr. no

Shareholding at the beginning of the year

Increas e / (Decrease) in Share Holding

Cumulative Shareholding during the year

No. of shares % of total shares of the company Date Please No. of Shares refer page No Re ason No. of shares % of total shares of the company
At the beginning of the year
Piyush Agrawal 1098404 18.31
1272994 21.22
Suresh Chandra Agrawal 474800 7.91 474800 7.91
Amitabh Agrawal 101530 1 .69 27.05.2014 101530 Sale 0 0
Ritu Agrawal 237345 3.96 - - - 237345 3.96
Chaitanya Agrawal 188000 3.13

-

-

-

03.09.2014 1000 Purchase
30.10.2014 1000 Purchase 190000 3.17
At the End of the year
Piyush Agrawal 1272994 21.22

-

-

-

1272994 21.22
Suresh Chandra Agrawal 474800 7.91 - - - 474800 7.91
Ritu Agrawal 237345 3.96 - - - 237345 3.96
Amitabh Agrawal 0 0 - - - 0 0
Chaitanya Agrawal 190000 3.17 - - - 190000 3.17

iv. Shareholding Pattern of top ten Shareholders:

(other than Directors Promoters and Holders of GDRs and ADRs):

Sr. No. For Each o f the Top 10 Shareholders

Sharehol ding at the beginning of the year

Increase / (Decrease) in Share Holding

Cumulative Shareholding during the year

No. of shares

% of total shares of the company

Date

No. of Shares

Reason

No. of shares

% of total shares of the com pany

At the beginning of the year
1 Ms. Manjula Agrawal

237345

4

23/04/2014

237345

Sale

0

0

2 Mr. Hitesh Ramji Javeri

159000

2.68

-

-

-

159000

2.68

3 Mr. Harsh Hitesh Javeri

140000

2.36

-

-

-

140000

2.36

4 Mr. Anil Kumar Jain

102200

1.72

-

-

-

102200

1.72

5 Ms. Kumari R Vazir

58000

0.98

-

-

-

58000

0.98

6 Ms. Manisha U Dharmik

49100

0.83

-

-

-

49100

0.83

7 Mr. Raman S Karani

41100

0.69

28/11/2014

5000

Sale

36100

0.61

8 Mr. Mansukhlal Mansinbhai Mehta

39931

0.67

18/07/2014

39931

Sale

0

0
9 Ms. Manisha Didwania

34500

0.58

-

-

-

34500

0.58
10 Mr. Kishore Kumar

32250

0.53

28/08/2014

32250

Sale

0

0
At the end of the year
1 Ms. Manjula Agrawal

0

0

-

-

-

0

0
2 Mr. Hitesh Ramji Ja veri

159000

2.68

-

-

-

159000

2.68
3 Mr. Harsh Hitesh Javeri

140000

2.36

-

-

-

140000

2.36
4 Mr. Anil Kumar Jain

102200

1.72

-

-

-

102200

1.72
5 Ms. Kumari R Vazir

58000

0.98

-

-

-

58000

0.98
6 Ms. Manisha U Dharmik

49100

0.83

-

-

-

49100

0.83
7 Mr. Raman S Karani

36100

0.61

-

-

-

36100

0.61
8 Mr. Mansukhlal Mansinbhai Mehta

0

0

-

-

-

0

0
9 Ms. Manisha Didwania

34500

0.58

-

-

-

34500

0.58
10 Mr. Kishore Kumar

0

0

-

-

-

0

0

11* Amitabh Agrawai HUF

56302

0.95

08.04.2014

28149

Purchase

17.01.2015

410

Purchase

20.01.2015

1700

Purchase

27.01.2015

700

Purchase

29.01.2015

3000

Purchase

10.02.2015

3000

Purchase

12.02.2015

2500

Purchase

13.02.2015

3000

Purchase

16.02.2015

3000

Purchase

18.02.2015

313

Purchase

19.02.2015

3000

Purchase

22.02.2015

3000

Purchase

28.02.2015

1530

Purchase

28.02.2015

3000

Purchase

56302

0.95
12* Mr. Jyotindra Mansukhlal Mehta

39931

0.67

15.02.2014

39931

Purchase

39931

0.67
13* Ms. Pratima Nayak

39200

0.66

18.04.2011

39200

Purchase

39200

0.66
14* Mr. Murtaza Jafeerali Sevwala

37870

0.63

12.09.2014

13530

Purchase

19.09.2014

18000

Purchase

05.12.2014

6340

Purchase

37870

0.63

*Not in the top ten shareholders as on 01.04.2014

v. Shareholding of Directors and Key Managerial Personnel:

S.N. For Each of the Directors and KMP

Shareholding at the beginning of the year

Increase/ (Decrease) in Share Holding

Cumulative Shareholding during the year

No. of shares % of total shares of the company Date No. of Shares Reason No. of shares % of total shares of the company
At the beginning of the year
1 Piyush Agrawal (Managing Director) 1098404 18.31 1098404 18.31
2 Suresh Chandra Agrawal 474800 7.91
3 Amitabh Agrawal 101530 1.69 27.05.2014 101530 Sale 0 0
4 Chaitanya Agrawal (Chief Financial Officer) 188000 3.13
03.09.2014 1000 Purchase
30.10.2014 1000 Purchase 188000 3.13
5 Khushboo Verma (Company Secretary) 0 0 0 0
At the end of the year
1 Piyush Agrawal (Managing Director) 1272994 21.22 1272994 21.22
2 Chaitanya Agrawal (Chief Financial Officer) 190000 3.17 190000 3.17
3 Suresh Chandra Agrawal 474800 7.91
4 Amitabh Agrawal 0 0 - - - 0 0
5 Khushboo Verma (Company Secretary) 0 0 0 0

V. IND EBTEDNESS

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

Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount 15611087 76366278 0 91977365
ii) Interest due but not paid 0 0 0 0
iii) Interest accrued but not due 0 0 0 0
Total (i+ii+iii) 15611087 76366278 0 91977365
Change in Indebtedness during the financial year 1283622 881720 0 2165342
- Addition
- Reduction
Net Change 1283622 881720 0 2165342
Indebtedness at the end of the financial year 16894709 77247998 0
i) Principal Amount 0 0 0

94142707

ii) Interest due but not paid
iii) Interest accrued but not due 0 0 0
Total (i + ii + iii) 16894709 77247998 0 94142707

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. Remuneration to Managing Director Whole-time Directors and Company Secretary

Sr. no. Particulars of Remuneration

Key Managerial Personnel

Managing Director (Mr. Piyush Agrawal) Company Secretary (Ms. Khushboo Verma) (07 months) Whole Time Director & CFO (Mr. Chaitanya Agrawal) Total
Gross salary
(a) Salary as per provisions contained in section 17(1) of the 1255000 70000 575400 1900400
1. Income-tax Act 1961
(b) Value of perquisites u/s 17(2) Income-tax Act 1961 157500 0 1 5000 172500
(c) Profits in lieu of salary under section 17(3) Income-tax Act 1961 0 0 0 0
2. Stock Option 0 0 0 0
3. Sweat Equity 0 0 0 0
Commission
4. - a s % of profit 87500 0 9600 97100
- others specify...
5. Others please specify 0 0 0 0
6. Total 1500000 70000 600000 2170000
7. Overa ll Ceiling as per the Act 42 Lakhs (being the limit as specified in Schedule V of the Companies Act 2013) is the maximum payable as managerial remuneration for the year ended March 31 2015.

B. Remuneration to other directors:

Sr. No. Particulars of Remuneration

Name of Directors

Mr. Amitabh Agrawal (NED) Ms. Asha Agarwal (ID) Mr. Maman Chand Jain (ID) Mr. Ashwani Kumar Jindal (ID) Mr. Suresh Chandra Agrawal (Chairman) Mr. Satish K umar Agarwal (ID) Total Amount
Independent Directors
• Fee for attending board committee meetings 2500 2500 5000 2500 7500
• Commission 0 0 0 0 0
• Others please specify 0 0 0 0 0
Total (1) 2500 2500 5000 2500 12500
Other Non-E xecutive Directors
• Fee for attending board committee meetings 0
• Commission 0
• Others please specify 0
Total (2) 0
Total (B)=(1+2) 2500 2500 5000 2500 12500
Executive Directors
• Salary 180000 180000
• Commission
• Others please specify
Tota l Managerial Remun eration 0 2500 2500 5000 180000 2500 192500

Annexure-A of Form MGT-9

Details of Increase / (Decrease) in Share Holding of Mr. Piyush Agrawal:

Date No. of share Reason
11-04-2014 1000.00 Purchase
16-04-2014 502.00 Purchase
17-04-2014 2000.00 Purchase
21-04-2014 2101.00 Purchase
22-04-2014 100.00 Purchase
28-04-2014 400.00 Purchase
29-04-2014 2071.00 Purchase
30-04-2014 400.00 Purchase
02-05-2014 400.00 Purchase
05-05-2014 1500.00 Purchase
07-05-2014 8000.00 Purchase
08-05-2014 2000.00 Purchase
09-05-2014 2000.00 Purchase
12-05-2014 300.00 Purchase
15-05-2014 919.00 Purchase
20-05-2014 4970.00 Purchase
23-05-2014 2898.00 Purchase
02-06-2014 5000.00 Purchase
05-06-2014 2000.00 Purchase
06-06-2014 5000.00 Purchase
19-06-2014 1000.00 Purchase
23-06-2014 1305.00 Purchase
27-06-2014 5300.00 Purchase
01-07-2014 5000.00 Purchase
02-07-2014 7450.00 Purchase
03-07-2014 7450.00 Purchase
07-07-2014 1930.00 Purchase
08-07-2014 900.00 Purchase
09-07-2014 1000.00 Purchase
11-07-2014 5000.00 Purchase
14-07-2014 1500.00 Purchase
15-07-2014 2000.00 Purchase
31-07-2014 1000.00 Purchase
04-08-2014 500.00 Purchase
05-08-2014 310.00 Purchase
07-08-2014 150.00 Purchase
26-08-2014 2100.00 Purchase
15-09-2014 1000.00 Purchase
16-09-2014 1000.00 Purchase
17-09-2014 100.00 Purchase
22-09-2014 700.00 Purchase
30-09-2014 2000.00 Purchase
03-11-2014 199.00 Purchase
12-11-2014 1500.00 Purchase
13-11-2014 980.00 Purchase
14-11-2014 5000.00 Purchase
18-11-2014 4745.00 Purchase
19-11-2014 101.00 Purchase
21-11-2014 1000.00 Purchase
24-11-2014 2000.00 Purchase
25-11-2014 3173.00 Purchase
27-11-2014 2900.00 Purchase
28-11-2014 699.00 Purchase
04-12-2014 2294.00 Purchase
05-12-2014 100.00 Purchase
11-12-2014 736.00 Purchase
12-12-2014 298.00 Purchase
15-12-2014 99.00 Purchase
16-12-2014 629.00 Purchase
18-12-2014 100.00 Purchase
19-12-2014 900.00 Purchase
23-12-2014 2000.00 Purchase
31-12-2014 540.00 Purchase
19-01-2015 3000.00 Purchase
19-01-2015 2000.00 Purchase
09-02-2015 11000.00 Purchase
10-02-2015 9700.00 Purchase
26-02-2015 7500.00 Purchase
27-02-2015 1230.00 Purchase
27-02-2015 450.00 Purchase
05-03-2015 398.00 Purchase
09-03-2015 198.00 Purchase
10-03-2015 5465.00 Purchase
11-03-2015 3325.00 Purchase
12-03-2015 2350.00 Purchase
16-03-2015 2000.00 Purchase
17-03-2015 2110.00 Purchase
18-03-2015 1100.00 Purchase
20-03-2015 340.00 Purchase
24-03-2015 675.00 Purchase
25-03-2015 400.00 Purchase

ANNEXURE-II

The ratio of the remuneration of each director to the median employee's remunerationand other details in terms of subsection 12 of Section 197 of the Companies Act 2013 readwith Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel)Rules 2014:

Sl. No. Requirements Disclosure
I The ratio of the remuneration of each director to the median remuneration of the employees for the financial year 2014-15. Executive Director
1. Mr. Suresh Chandra Agrawal - Chairman & Director -Rs. 1.80 lacs.
2. Mr. Piyush Agrawal- Managing director- Rs. 15 lacs
3. Mr. Chaitanya Agrawal- Whole-Time Director- Rs. 6 Lacs
Non-Executive Directors
1. Mr. Amitabh Agrawal - Non-Executive Director - Nil
2. Ms. Asha Agarwal - Independent Director - Rs. 2500 (Sitting Fee)
3. Mr. Maman Chand Jain - Independent Director - Rs. 2500 (Sitting Fee)
4. Mr. Ashwani Kumar Jind al - Independent Director -Rs. 5000 (Sitting Fee)
5. Mr. Satish Kumar Agarwal - Independent Director -Rs. 2500 (Sitting Fee)
KMPs (other than Managing Director & Whole Time Director)
Ms. Khushboo Verma - Company Secretary-Rs. 70000(for 07 Months)
II The percentage increase in remuneration of each Director in the financial year. There was no increase in remuneration of the directors & KMP in the financial year.
The percentage increase in the median remuneration of employees in the financial year. 3.00%
IV The number of permanent employees on the rolls of the Company. There were 39 (Thirty Nine) permanent employees on the rolls of the Company as on March 31 2015.
V The explanation on the relationship between average increase in remuneration and Company's performance. There was no increase in remuneration of the employees of the Company. The Company inter -alia considers the following factors for deciding upon the increase in the remuneration of the employees:
(a) Individual Performance/contribution of the Employee vis-avis Company Performance;
(b) Industry Benchmarking
(c) Balance between fixed and incentive pay reflecting short and long term performance objectives
VI Comparison of the remuneration of the Key Managerial Personnel against the performance of the Company. For the Financial Year 2014-15 the total remuneration paid to the KMPs were approx 51.50% of the net profit for the year.
VII Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration. Not Applicable to the Company as all the employees are under Managerial cadre.
VIII Comparison of the each remuneration of the Key The comparison of remuneration of each of the Key Managerial personnel against the performance of the Company is as under

 

Managerial Personnel against the performance of the Company. Particulars % of Net Profit for FY 2014-15
Managing Director 35.60%
WTD & CFO 14.24%
Company Secretary 1.66%

 

IX The key parameters for any variable component of remuneration availed by the directors. Any variable component of remuneration payable to the Directors is based on the p arameters as approved by the Board of Directors on the basis of the recommendation of the Nomination & Remuneration Committee of the Board. The said parameters are set considering the provisions of applicable regulations Nomination (including Boards' Diversity) Remuneration and Evaluation Policy of the Company and the respective resolution(s) of the Members of the Company as applicable
VIII The ratio of the remuneration of the highest paid director to that of the employees who are not directorsbut receive remuneration in excess of the highest paid director during the year. During the financial year 2014-15 there is no employee in the Company who is not a director but receives remuneration in excess of the highest paid director i.e. Whole time Director of the Company.
IX Affirmation that the remuneration is as per the remuneration policy of the Company. It is hereby affirmed that the remuneration is as per the Nomination and Remuneration Policy of the Company.

Annexure-III

Form No. MR-3

SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED 2014-15

[Pursuant to Section 204(1) of the Companies Act 2013 and Rule 9 of the Companies(Appointment and Remuneration Personnel) Rules 2014]

To

The Members CRANEX LIMITED

9 DDA MARKET KATWARIA SARAI NEW DELHI-110016

We have conducted the Secretarial Audit of the compliance of applicable statutoryprovisions and the adherence to good corporate practices by CRANEX LIMITED (hereinaftercalled the "Company") having CIN L74899DL1973PLC006503 Secretarial Audit wasconducted in a manner that provided us a reasonable basis for evaluating the corporateconducts/statutory compliances and expressing our opinion thereon.

Based on our verification of the Company's books papers minute 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 31st March 2015 complied withthe 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 returns filed and otherrecords maintained by CRANEX LIMITED for the financial year ended on 31st March 2015according to the provisions of:

(i) The Companies Act 1956 & The Companies Act 2013 (the Act) and the rules madethereunder;

(ii) The Securities Contracts (Regulation) Act 1956 ('SCRA') and the rules madethereunder;

(iii) The Depositories Act 1996 and the Regulations and Bye-Laws framed thereunder;

(iv) Foreign Exchange Management Act 1999 and the rules and regulations madethereunder to the extent of Foreign Direct Investment Overseas Direct Investment andExternal Commercial Borrowings;

(v) The following Regulations and Guidelines prescribed under the Securities andExchange Board of India Act 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 (Prohibition of Insider Trading)Regulations 1992;

c) The Securities and Exchange Board of India (Issue of Capital and DisclosureRequirements) Regulations 2009; (Not Applicable to the 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 during theAudit period as the Company has not issued Employee Stock Option Scheme and Employee StockPurchase Scheme);

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 as the Company hasnot issued any Debt Instruments/securities);

f) The Securities and Exchange Board of India (Registrars to an Issue and ShareTransfer Agents) Regulations1993 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) The Securities and Exchange Board of India (Buyback of Securities) Regulations 1998(Not Applicable to the Company during the Audit period);

(vi) As informed to us the following other Acts/laws specifically applicable to thecompany are under:

1. Provident Fund Act 1952

2. The Employees State Insurance Act 1948

3. Labour Welfare Fund Act

4. Contract Labour (Regulation and Abolition) Act 1970

5. Professional Tax Act

6. Payment of Gratuity Act 1972

7. Payment of Bonus Act 1965

8. Minimum Wages Act 1948

9. Payment of Wages Act 1936

10. Maternity Benefit Act 1961

11. Equal Remuneration Act 1976

12. Employee Compensation Act 1923

13. Employee Exchange Act 1959

14. LBT/OCTROI

15. Trade License Act

16. State VAT & CST

17. Income Tax Act 1961

18. Service Tax Act 1994

19. Companies (Auditors' Report) Order 2015

20. Legal Metrology Act 2009

21. The Factories Act 1948

22. The Central Excise Act 1985

23. The Custom Act 1962

We have also examined compliance with the applicable clauses of the following:

• Secretarial Standards issued by The Institute of Company Secretaries of India.(Not applicable to the Company during the Audit Period)

• The Listing Agreement entered into by the Company with Bombay Stock ExchangeLimited.

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

In respect of other laws specifically applicable to the Company We have relied oninformation/records produced by the Company during the course of our audit and thereporting is limited to that extent.

We further report that:

The Board of Directors of the Company is duly constituted subject to the abovementioned observations. The changes in the composition of the Board of Directors that tookplace during the period under review were carried out in compliance with the provisions ofthe Act.

Adequate notice is given to all directors to schedule the Board Meetings agenda anddetailed notes on agenda were sent at least seven days in advance and a system exists forseeking and obtaining further information and clarifications on the agenda items beforethe meeting and for meaningful participation at the meetings.

As per the minutes of the meetings duly recorded and signed by the Chairman thedecisions of the Board were unanimous and no dissenting views have been recorded.

We further report that there is a scope to improve the systems and processes in thecompany and operations of the company to monitor and ensure compliance with applicablelaws rules regulations and guidelines.

We further report that:

• There are adequate systems and processes in the company commensurate with thesize and operations of the company to monitor and ensure compliance with applicable lawsrules regulations and guidelines.

• There was no prosecution initiated against or show cause notice received by thecompany during the year under review.

We further report that during the audit period there were no instances of:

• Public / Right / Preferential issue of shares/ debentures / sweat equity.

• Redemption / buy-back of securities.

• Major decisions taken by the members in pursuance to section 180 of theCompanies Act 2013

• Merger / amalgamation / reconstruction etc.

• Foreign technical collaborations.

This report is to be read with our letter of even date which is annexed as 'Annexure-A'and forms an integral part of this report.

FOR PARVEEN RASTOGI & CO.
COMPANY SECRETARIES
Sd/-
Place: New Delhi PARVEEN RASTOGI
Date : 07.09.2015 C.P. No. 2883
M. No. 4764

' Annexure A'

To

Th e M e m bers

CRANEX LIMITED

9 DDA MARKET KATWARIA SARAI NEW DELHI-110016

Our report of even date is to be read along with this letter.

1. Maintenance of secretarial record is the responsibility of the management of thecompany. Our responsibility is to express an opinion on these secretarial records based onour audit.

2. We have followed the audit practices and processes as were appropriate to obtainreasonable assurance about the correctness of the contents of the Secretarial records. Theverification was done on test basis to ensure that correct facts are reflected insecretarial records. We believe that the processes and practices we followed provide areasonable basis of our opinion.

3. We have not verified the correctness and appropriateness of financial records andbooks of accounts of the company.

4. Where ever required we have obtained the management representation about thecompliance of laws rules and regulations and happening of events.

5. The compliance of the provisions of Corporate and other applicable laws rulesregulations standards is the responsibility of management. Our examination was limited tothe verification of procedures on test basis.

6. The Secretarial Audit Report is neither an assurance as to the future viability ofthe company nor of the efficacy of effectiveness with which the management has conductedthe affairs of the company.

FOR PARVEEN RASTOGI & CO.
COMPANY SECRETARIES
Sd/-
Place: New Delhi PARVEEN RASTOGI
Date : 07.09.2015 C.P. No. 2883
M. No. 4764

ANNEXURE-I 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.

Form for Disclosure of particulars of contracts/arrangements entered into by thecompany with related parties referred to in sub section (1) of section 188 of theCompanies Act 2013 including certain arms length transaction under third proviso thereto.

1. Details of contracts or arrangements or transactions not at Arm's length basis.

SL.No. Particulars Details
(a) Name (s) of the related party & nature of relationship Not Applicable
(b) Nature of contracts/arrangements/transaction
(c) Duration of the contracts/arrangements/transaction
(d) Salient terms of the contracts or arrangements or transaction including the value if any
(E) Justification for entering into such contracts or arrangements or transactions'
(f) Date of approval by the Board
(g) Amount paid as advances if any
(h) Date on which the special resolution was passed in General meeting as required under first proviso to section 188

2. Details of contracts or arrangements or transactions at Arm's length basis.

SL.No. Particulars Details
(a) Name (s) of the related party & nature of relationship * Please refer the [ note given below
(b) Nature of contracts/arrangements/transaction
(c) Duration of the contracts/arrangements/transaction
(d) Salient terms of the contracts or arrangements or transaction including the value if any
(E) Date of approval by the Board
(f) Amount paid as advances if any

*NOTE: The details of names nature of relations ship; nature of such contracts /arrangements / transactions are disclosed in Note No.23 of the Financial Statements.

By Order of the Board of Directors
For Cranex Limited
Sd/- Sd/-
(Piyush Agrawal) (Suresh Chandra Agrawal)
Place: New Delhi Managing director Chairman
Date: 07.09.2015 DIN:01761004 DIN:01958471

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