Indian Link Chain Manufacturers Ltd.
|BSE: 504746||Sector: Industrials|
|NSE: N.A.||ISIN Code: INE359D01016|
|BSE LIVE 09:23 | 07 Aug||Stock Is Not Traded.|
|NSE 05:30 | 01 Jan||Stock Is Not Traded.|
Indian Link Chain Manufacturers Ltd. (INDIANLINKCH) - Director Report
Company director report
We present our 58th Annual Report together with the Audited Financial Accounts for theyear ended March 31 2016:
1. During the year trading turnover has grown marginally. However the company hasstated trading in chemicals during the current year and higher turnover is expected duringthis year. In view of losses no amount transferred to Reserve and no dividend can berecommended.
2. a) The Company has four Directors out of which two are non retiring IndependentDirector and one is Managing Director not liable to retirement. The Fourth Director Smt.Vandana Nevatia(DIN NO07123272) a Woman Director being the only Director liable to retireby rotation retires at the AGM but being eligible offers herself for reappointment .TheDirectors recommend her reappointment
b) P.K.Nevatia Managing Director is the Key Managerial Person
3. Declaration by Independent Directors:The Independent Directors have submittedthe Declaration of Independence as required pursuant to section 149 (6) of the CompaniesAct 2013 stating that they meet the criteria of Independence as provided in sub-section(6).
A) Statutory Auditor: Pursuant to the provisions of Section 139 of the CompaniesAct 2013 and the Rules made there under the auditors of the Company M/s. M.L. Bhuwania& Co. Chartered Accountants Mumbai were appointed by the Shareholders for threeyears terms at the 56thAnnual General Meeting to hold office until the conclusion of the59th Annual general Meeting subject to ratification by the shareholders at each AnnualGeneral Meeting.
Statutory Audit report
The Statutory auditors have given observations w.r.t Non Appointment of company.Secretary and C h i e f Financial Officer under section 203(1)of companies Act2013 whichstates that considering the size of the business of company it has not appointed companysecretary and chief Financial Officer. The observe isselfexplain
B) Secretarial Auditor: Pursuant to the provisions of Section 204 of the CompaniesAct 2013 and the rule made there under the Company has appointed Shri. Shiv Hari JALANPracticing Company Secretary firm toundertake the secretarial Audit of the Company. TheReport of the Secretarial Audit Report is annexed herewith as Annexure A.
Secretarial Audit report
The secretarial auditors have given observations w.r.t Non Appointment of companySecretary and chief Financial Officer under Section 203(1)of companies Act2013Dealy in filing Form MGT-10 with ROC Noncompliance with respect to the provisions ofthe clause41(