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Orient Tradelink Ltd.

BSE: 531512 Sector: Financials
NSE: N.A. ISIN Code: INE681D01013
BSE LIVE 14:45 | 11 Dec 3.30 -0.17
(-4.90%)
OPEN

3.30

HIGH

3.30

LOW

3.30

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 3.30
PREVIOUS CLOSE 3.47
VOLUME 21106
52-Week high 12.00
52-Week low 3.30
P/E 3.47
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.30
Sell Qty 20894.00
OPEN 3.30
CLOSE 3.47
VOLUME 21106
52-Week high 12.00
52-Week low 3.30
P/E 3.47
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.30
Sell Qty 20894.00

Orient Tradelink Ltd. (ORIENTTRADELINK) - Director Report

Company director report

Dear Members

Your Directors take pleasure in presenting the 22nd Annual Report of yourCompany together with the Audited Balance Sheet as on 31 March 2016 and the statement ofProfit & Loss for the year ended on that date.

FINANCIAL RESULTS

The performance of the Company for the financial year ended 31st March 2016is summarized below:

Particulars Year ended 31.03.2016 Year ended 31.03.2015
Income (Gross) 77834230 156809827
Expenses during the year excluding depreciation and interest 92910261 155114888
Profit/Loss before depreciation and interest (15076031) 1694939
Less:
Depreciation 39100 50549
Interest - -
Profit before Taxes (15115131) 1644390
Less: Provision for Taxation
- Current Tax/MAT - 515006
- Deferred Tax - (6890)
- MAT Credit Entitlements - -
Profit/(Loss) After Tax (15115130) 1136274
Expenses during the year excluding depreciation and interest 92910261 155114888
Profit/Loss before depreciation and interest (15076031) 1694939
Less:
Depreciation 39100 50549
Interest - -
Profit before Taxes (15115131) 1644390
Less: Provision for Taxation
- Current Tax/MAT - 515006
- Deferred Tax - (6890)
- MAT Credit Entitlements - -
Profit/(Loss) After Tax (15115130) 1136274

DIVIDEND

Your Directors intend to plough back available resources for financial requirements andexpress their inability to recommend any dividend for the financial year.

RESERVES

The Company has not transferred any amount from the statement of profit and loss togeneral reserve during the year under review.

BUSINESS OPERATIONS

The fiscal year 2016 was a period of relative stability. During the year under reviewyour Company achieved a profit of Rs. (15115130) before tax as against Loss of 1136274in the preceding financial year.

DIRECTORS

There is no change in the directorship of the Company during the current financialyear.

BOARD MEETINGS

The Board met 10 (Ten) times during the financial year 2015-16 on 18.4.201514.05.2015 16.07.2015 13.08.2015 29.08.2015 13.10.2015 02.11.2015 15.01.201621.01.2016 30.05.2016.

BOARD COMMITTEES

The Board has re-constituted all the three functioning committees in accordance withthe provisions of Companies Act 2013 and SEBI (LODR) Regulations 2015 namely AuditCommittee Share Holders/Investors Grievance Committee and the Nomination andRemuneration Committee. The members of each committee are highly educated and wellexperienced. The Role of each committee is given in the Report of Corporate Governance.

AUDITORS

The Auditors of the Company M/S Mittal Nirbhay & Co. retire at the conclusion ofthe ensuing Annual General Meeting and being eligible has sought reappointment. TheAuditors have confirmed that they satisfy the criteria provided under section 141 of theCompanies Act 2013 (The Act) and their reappointment if made would be in compliancewith the conditions prescribed under the Act.

The Audit Committee and the Board of Directors recommended the appointment of M/s.Mittal Nirbhay & Co. as an Auditor of the Company for a period of 4 years to holdoffice from the conclusion of the ensuing Annual General Meeting to the conclusion of theAnnual General Meeting to be held in 2020 of the Company subject to ratification by themembers at Annual General Meeting.

AUDITORS' REPORT

The Auditors report does not contain any reservation qualification or adverse remark.

SECRETERIAL AUDITOR

The secretarial audit of the Company has been conducted by M/s. Sudhaker & Co.Company secretaries and their report on the secretarial audit for the year under review isannexed hereto.

SECRETARIAL AUDIT REPORT

The Secretarial Audit Report does not contain any reservation qualification or adverseremark which is attached as ANNEXURE-4

PUBLIC DEPOSITS

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

DETAILS REGARDING REMUNERATION TO THE EMPLOYEES

In terms of rule 5(2) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014.The name and other particulars of the employees whose remunerationfalls within the purview of the said rule are required to be set out in the Annexure tothe Directors Report. However during the year under review or any part thereof TheCompany did not employ any person with remuneration falling within the purview asprescribed under the rule.

PARTICULARS REGARDING CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION

Company is not engaged in any manufacturing or processing activity as such particularsrequired to be given in terms of Section 134(3)(m) of the Companies Act 2013 read withCompanies (Disclosure of Particulars in the Report of the Board of Directors) Rules 1988regarding conservation of energy and technology absorption are not applicable.

FOREIGN EXCHANGE EARNINGS AND OUTGO

There has been no expenditure and/or earning in foreign exchange.

NOTES ON TAXATIOIN

In the opinion of Directors the provision for income tax is sufficient to meet IncomeTax Demand Shortfall if any will be met if necessary out of reserves.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICHHAVE OCCURED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIALSTATEMENTS RELATES.

There have been no material changes and commitments occurred between the periodaffecting the financial position of the Company.

SUBSIDIARIES JOINT VENTURE AND ASSOCIATE COMPANY

The Company has no subsidiary Associate Companies and joint venture Company.

EXTRCT OF THE ANNUAL RETURN

The details forming part of extract of Annual Return as on the financial year endedMarch 31 2016 pursuant to section 92(3) of the Companies Act 2013 in Form MGT-9 isattached as ANNEXURE-3

LOAN AND INVESTMENT BY COMPANY

The Company has neither given any loan to any persons or body corporate nor given anyguarantee or provided security in connection with a loan to other body corporate orPersons. The Company has not made any investment in the purchase of shares of anyassociate Company during the year under review.

RELATED PARTY TRANSACTIONS

There were no related party transactions during the financial year. There are nomaterially significant related party transactions made by the Company with the PromotersKey Management Personnel or other designated persons which may have potential conflictwith the interest of the Company at large.

DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH

REFERENCE TO THE FINANCIAL STATEMENT

The Company has adequate internal financial control system commensurate with the sizeof the Company and the nature of its business with regards to purchase of Fixed Assets.The activities of the Company do not involve purchase of inventories and sale of goods andservices.

The Internal financial control system is periodically reviewed by the Directors who arehighly educated and well experienced.

SEGMENT

The Company is engaged in the business of television channels news Films musicserials and trading in fabrics which are governed by the same set of risks and returns andas such are in the same segment.

SHARE CAPITAL
(A)Issue of Equity shares with deferential rights : NIL
(B) Issue of Sweat Equity shares : NIL
(C)Issue of employees stock options : NIL
(D) Provision of Money by Company for purchase of its own share by employees or trustee for the

benefit of employees :

NIL

RISK MANAGEMENT POLICY

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

COPRORATE SOCIAL RESPONSIBILITY

The provisions of Section 135(1) of the Companies Act 2013 are not applicable to theCompany and therefore the Company has no corporate Social Responsibility Committee of theBoard.

ANNUAL EVALUTION OF PERFORMANCE OF BOARD ITS COMMITTEES AND UNDIVIDUAL DIRECTOR

The Board of Directors have complied with the provisions of Sec. 134(3)(p) of theCompanies Act 2013 and Regulation 17(10) of SEBI(LODR) Regulation 2015 regarding AnnualEvaluation of performance of the Board the Committees and the individual Directors. Suchevaluation was made on the parameters such as the level of engagement and contribution andindependence of judgment thereby safeguarding the interest of the Company. The performanceof the Board its committees and the individual Directors is satisfactory.

CODE OF CONDUCT

The chairman of the Board Meetings has given a declaration that all Directors andsenior Management Personnel concerned affirmed compliance with the code of conduct withreference to the year ended March 31 2016. Declaration is annexed with the Annual Report.

CORPORATE GOVERNACE

In compliance with the requirements of SEBI (LODR) Regulation 2015 entered into withthe Stock Exchange a separate report on Corporate Governance along with AuditorsCertificate confirming its compliance is annexed and form part of this report.

DIRECTOR'S RESPONSIBILITY STATEMENT

Pursuant to section 134(3)(m) of the Companies Act 2013 with respect to DirectorsResponsibility statement it is hereby confirmed that :-

(i) In the preparation of the Annual accounts the applicable accounting standards havebeen followed alongwith proper explanation relating to material departures if any.

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

(iii) The Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of Companies Act 2013 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities.

(iv) The Directors have prepared the annual accounts on a going concern basis.ACKNOWLEDGEMENT

Your Directors wish to place on record and acknowledge their appreciation for thecontinued support and co-operation received from Government agencies and the shareholders.Your Directors also record their appreciation for the total dedication of employees at alllevels.

Date: 22/08/2016 For and on behalf of the Board of Directors
Place: New Delhi Orient Tradelink Limited

 

Sd/- Sd/-
Aushim Parshottam Khetarpal Anita Khetarpal
DIN: 00060319 DIN: 02909051
Managing Director Director