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Ajwa Fun World & Resort Ltd.

BSE: 526628 Sector: Services
NSE: N.A. ISIN Code: INE863E01015
BSE 00:00 | 12 Feb Ajwa Fun World & Resort Ltd
NSE 05:30 | 01 Jan Ajwa Fun World & Resort Ltd
OPEN 6.83
PREVIOUS CLOSE 6.83
VOLUME 100
52-Week high 19.60
52-Week low 6.22
P/E
Mkt Cap.(Rs cr) 4
Buy Price 6.51
Buy Qty 1000.00
Sell Price 6.67
Sell Qty 100.00
OPEN 6.83
CLOSE 6.83
VOLUME 100
52-Week high 19.60
52-Week low 6.22
P/E
Mkt Cap.(Rs cr) 4
Buy Price 6.51
Buy Qty 1000.00
Sell Price 6.67
Sell Qty 100.00

Ajwa Fun World & Resort Ltd. (AJWAFUNWORLD) - Director Report

Company director report

To

The Members

Your Directors have pleasure in presenting the 27th Annual Report together with theAudited Statement of Accounts of AJWA FUN WORLD AND RESORT LIMITED for the year ended on31st March 2019.

FINANCIAL RESULTS:

(AMT IN RS.)

PARTICULARS 2018-19 2017-18
Revenue from operations 40187412 30345158
Other Income 768509 4326282
Total income 40955921 34671440
Total Expenditure 39343377 35577845
Profit/(Loss) before Tax 1612544 (906405)
Tax Expenses 00 00
Profit/(Loss) for the year 1612544 (906405)

DIVIDEND:

To conserve the financial resources of the Company your Directors do not dividend forthe year under review.

FINANCIAL PERFORMANCE:

During the year under review the Company has reported total income of Rs.40955921/- against the total Income of Rs. 34671440/- during the previous year. TheCompany has earned Net Profit of Rs. 1612544/- during the year under review as against NetLoss of ` Rs. (906405)/- during the previous year.

FINANCE:

(i) SHARE CAPITAL:-

The paid up Equity Share Capital of the Company as on 31st March 2019 is Rs.63900000 during the year under review; the Company has neither issued equity shares withdifferential voting rights nor granted stock options or sweat equity.

(ii) DEPOSITS:-

The Company has not accepted/renewed any public deposits during the year under reviewas per provision of Section 73 of the Companies act 2013 read with Companies (Acceptanceof Deposit) Rules 2014 during the period under review. Hence the requirement forfurnishing the details of deposits which are not in compliance with Chapter V of the Actis not applicable.

(iii) PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS:-

Particulars of loans guarantees and investments covered under the provisions ofSection 186 of the Companies Act 2013 are given in the Notes to the Financial Statements.

MATERIAL CHANGES AND COMMITMENT:

• Mr. Rahil Rajesh Jain was resigned as a Director of the Company as on 03/05/2019

• Mr. Jigneshbhai Ravjibhi Patel was appointed as Additional Director of theCompany as on 28/05/2019. (Mr. Jigneshbhai Ravjibhi Patel will regularized in AnnualGeneral Meeting held as on 30/09/2019)

• Mr. Chandrakant Dattaram Kadam was appointed as Whole Time Company Secretary ofthe Company as on 15/06/2019.

INTERNAL FINANCIAL CONTROLS:

The company has adequate internal financial control system with reference to theFinancial Statements.

VIGIL MECHANISM/WHISTLE BLOWER POLICY:

Pursuant to Section 177(9) of the Companies Act 2013 and clause 49 of the ListingAgreement the Company has formulated a Whistle Blower Policy to establish a vigilmechanism for directors and employees of the Company. The purpose and objective of thisPolicy is to provide a framework to promote responsible and secure whistle blowing. Itprotects the employees wishing to raise a concern about serious irregularities within theCompany. The details of the Whistle Blower Policy posted on the website of the Companywww.ajwaworld.com .

RELATED PARTY TRANSACTIONS:

No Related Party Transactions were entered into during the financial year 2018-19. AllRelated Party Transactions entered into in the past were on an arm’s length basis andwere in the ordinary course of business. There are no materially significant Related PartyTransactions made by the Company with promoters directors Key Managerial Personnel orother designated persons which may have potential conflict with the interests of theCompany at large.

On the recommendation of the Audit Committee the Board of Directors has adopted apolicy on Related Party Transactions which is also uploaded on the website of the Company(www.ajwaworld.com) under the head ‘Investor Relations’. The Policy envisagesthe procedure governing related party transactions required to be followed to ensurecompliance with the applicable laws and regulations as well as to ensure that the RelatedParty Transactions are managed and disclosed in accordance with the strict legal andaccounting requirements.

A statement of all related party transactions is presented before the Audit Committeeon a quarterly basis specifying the nature value and terms & conditions of thetransactions. The summary of related party transactions is given below;

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