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Alna Trading & Exports Ltd.

BSE: 506120 Sector: Others
NSE: N.A. ISIN Code: INE07I701011
BSE 05:30 | 01 Jan Alna Trading & Exports Ltd
NSE 05:30 | 01 Jan Alna Trading & Exports Ltd

Alna Trading & Exports Ltd. (ALNATRADING) - Director Report

Company director report

To

The Members

M/s. ALNA TRADING AND EXPORTS LIMITED

Mumbai.

Your Directors have pleasure in presenting to you the 39th Annual Report ofthe Company and the Audited Financial Statements for the year ended 31st March2021.

FINANCIAL RESULTS:

Particulars For the current year ended 31.03.2021 For the previous year ended 31.03.2020
(Amount in Lakhs) (Amount in Lakhs)
Gross Revenue 37.01 207.34
Profit for the period before Depreciation and 4.19 13.75
Taxation
Less : Depreciation 0.23 0.25
Profit before tax 3.96 13.50
Provision for Taxation
Current Tax 1.00 3.34
Deferred Tax (-) (-)
(Excess)/Short tax provision for earlier year 0.00 1.00 0.01 3.35
Profit after Tax 2.97 10.14
Add/(Less) : Brought forward profit of earlier year 177.59 167.45
Balance carried forward to Balance Sheet 180.56 177.59

REVIEW OF OPERATIONS:

During the year under review the Revenue of the company decresse to 37.01 Lakhsas compared to 207.34 Lakhs in previous year. The Profit before Tax has decrease to3.96 Lakhs as compared to 13.50 Lakhs in previous year. The Net Profit of theCompany decrease from 10.14 Lakhs in previous year to 2.97 Lakhs in the current year.

TRANSFER TO RESERVES:

The Company did not transfer any amounts to the general reserve during the year.

DIVIDEND:

With a view to strengthen the financial position of the Company and to retain fundsrequired for the operations of the Company the Directors have not recommended any dividendout of the current year's profit.

SUBISIDIARY JOINT VENTURE AND ASSOCIATE COMPANY:

The Company does not have any Subsidiary Joint Venture and Associate Company.

MATERIAL CHANGES AND COMMITMENTS

There are no material changes and commitments affecting the financial position of theCompany which have occurred between the end of the financial year of the Company to whichfinancial statement relate and the date of the report.

DETAILS OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

Sr . N o. Name of Director Designation Appointment Date Resignation Date
1. Anwar Husain Chauhan Director & CFO Director(Non-Executive 01/11/2013 -
2. Aftab Alam Independent Director) Director(Non-Executive 01/02/2017 -
3. Merle Dsa Prakashchandra Independent Director) Company Secretary and 03/09/2015 -
4. Gopaldutt Khulbe Compliance Officer 01/12/2018 -
5. Arshad Nawaz Khan Manager 20/05/2016 -

DECLARATION BY INDEPENDENT DIRECTORS

All the Independent Directors have submitted their disclosures to the Board that theyfulfill all the requirements as stipulated under Section 149(6) of the Companies Act2013.

There has been no change in the circumstances affecting their status as IndependentDirectors of the Company so as to qualify themselves to be appointed as IndependentDirectors under the provisions of the Companies Act 2013 and the relevant regulations.

FIXED DEPOSITS:

The Company does not have any deposits remaining unclaimed and/or claimed but not paidfor which information is required to be given in this Report.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS AND OUTGO:

Information pursuant to section 134(3)(m) of the Companies Act 2013 read with Rule 8of the Companies (Accounts) Rules 2014 is not applicable to your Company hence noinformation is disclosed.

CORPORATE SOCIAL RESPONSIBILITY (CSR):

The Company has not developed and implemented any Corporate Social Responsibilityinitiatives as the said provisions are not applicable.

RISK MANAGEMENT:

The Company follows well-established and detailed risk assessment and minimizationprocedures which are periodically reviewed by the Board. The Company has in place abusiness risk management framework for identifying risks and opportunities that may have abearing on the organization's objectives assessing them in terms of likelihood andmagnitude of impact and determining a response strategy.

The Senior Management assists the Board in its oversight of the Company's management ofkey risks including strategic and operational risks as well as the guidelines policiesand processes for monitoring and mitigating such risks under the aegis of the overallbusiness risk management framework.

RELATED PARTY TRANSACTIONS:

There were no transactions with related parties during the year under review (ReferNote 21) as defined under section 188 of the Companies Act 2013. Thus disclosure in FormAOC-2 is not required. Further there were no material related party transactions duringthe year under review with the Promoters Directors or Key Managerial Personnel.

DIRECTORATE AND KEY MANGERIAL PERSONNEL:

Pursuant to section 152 of the Companies Act 2013 and in terms of the Articles ofAssociation of the Company Mr. Anwar Husain Chauhan Director retires by rotation at theensuing Annual General Meeting and being eligible offers himself for re-appointment. YourBoard has recommended her reappointment.

None of the directors is disqualified for appointment/ re-appointment under section 164of the Companies Act 2013. As required by the law this position is also reflected in theAuditor's report.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act 2013 Directors of your Company herebystate and confirm that:

a) in the preparation of the annual accounts for the year ended 31st March2021 the applicable accounting standards have been followed along with proper explanationrelating to material departures;

b) 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 the same period;

c) the directors have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 2013 forsafeguarding the assets of the company and for preventing and detecting fraud and otherirregularities;

d) they have prepared the annual accounts on a going concern basis;

e) they have laid down internal financial controls in the company that are adequate andare operating effectively.

f) they have devised proper systems to ensure compliance with the provisions of allapplicable laws and these are adequate and are operating effectively.

REMUNERATION OF THE DIRECTORS / KEY MANAGERIAL PERSONNEL (KMP) / EMPLOYEES:

No remuneration is paid to Director/Key Managerial Personnel since all areNon-executive and Non-independent Directors.

NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS:

The Board of Directors duly met 4 (Four) times during the financial year from 01stApril 2020 to 31st March 2021. The dates on which meetings were held are 31stJuly 2020 15th September 2020 13th November 2020 and 12thFebruary 2021.

The gap between two Board Meetings didn't exceed 120 days as per Section 173 of theCompanies Act 2013

ATTENDANCE OF DIRECTORS

Attendance of Directors at the Board Meetings held during the financial year ended 31stMarch 2021 and at last AGM are as under:

Name of Director Category

Number of Meetings

Attendance at the last AGM
Held Attended Held on 30.09.2020
Anwar Husain Director & CFO 4 4 Yes
Chauhan Non-Executive
Aftab Alam Independent Non-Executive 4 4 Yes
Merle Dsa Independent 1 1 Yes

AUDIT COMMITTEE:

The Audit Committee of the Company comprises of Mr. Anwar Chauhan Ms. Merle Dsa andMr. Aftab Alam as its members. During the financial year 2020-21 the Committee met on31/07/2020 15/09/2020 13/11/2020 and 12/02/2021 the same were attended by all CommitteeMembers. The recommendations made by the Audit Committee were accepted by the Board ofDirectors of the Company.

Attendance of directors at the committee meetings held during the financial year ended31st March 2021:

Name of Director

Audit Committee Meeting

Held Attended
Anwar Husain Chauhan 4 4
Aftab Alam 4 4
Merle Dsa 1 1

REMUNERATION COMMITTEE:

The Remuneration Committee of the Company comprises of Mr. Anwar Chauhan Ms. Merle Dsaand Mr. Aftab Alam as its members. During the financial year 2020-21 the Committee met on12/02/2021 the same were attended by all Committee Members.

VIGIL MECHANISM:

Pursuant to requirement laid down in the Companies Act 2013 the Company hasestablished Vigil Mechanism. The Vigil Mechanism/Whistle Blower Policy provides foradequate safeguards against victimization of persons who use such mechanism and makeprovision for direct access to the Chairperson (Mr. Aftab Alam) of the Audit Committee inappropriate cases. It is affirmed that no person has been denied access to the AuditCommittee. The Whistle Blower Policy has been placed on the website of the Company.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES:

In terms of the provisions of section 197(12) of the Companies Act 2013 read with Rule5(2) and 5(3) of the Companies (Appointment & Remuneration of Managerial Personnel)Rules 2014 no employee of the Company is drawing remuneration in excess of the limitsset out in the said rules.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS:

The information of Loans Guarantees and Investments covered under the provisions ofSection 186 of the Companies Act 2013 is given under Note No.2 forming part of theaccounts.

AUDITORS REPORT REMARK:

Report of Auditors' is self-explanatory and does not require further elucidation.

AUDITORS:

Statutory Auditors:

As per the requirements of Section 139(2) of the Companies Act 2013 (‘the Act')M/s. D K P & Associates. Chartered Accountants (Registration No.126305W) wereappointed as statutory auditors for a period of 5 years at the 35th AnnualGeneral Meeting held on 21st August 2017.

As per notification issued by Ministry of Corporate Affairs dated 7th May2018 ratification of the statutory auditors at the Annual General Meeting is notrequired.

Secretarial Auditor and Secretarial Audit Report:

Pursuant to Section 204 of the Companies Act 2013 read with Rule 9 of the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Company appointedM/s. A. A. Mulla & Associates Practicing Company Secretaries to conduct theSecretarial Audit of the Company. The Secretarial Audit Report submitted by CompanySecretary in Practice is given in the Annexure to this report. The Company has appointedSecretarial Auditor for the Financial Year 2021-22 and has filed Form MGT-14.

EXTRACT OF ANNUAL RETURN

Pursuant to the provisions of Section 134(3)(a) of the Act and the rules framedthereunder the Annual Return for the Financial Year ended 31st March 2021 made under theprovisions of Section 92(3) of the Act is available on the website of the atwww.alna.co.in .

DEMATERIALISATION OF SHARES:

The shares are not dematerialised as per the requirements of SEBI ACT.

The Company is in process of dematerialising promoter's shares.

SEXUAL HARRASMENT AT WORK PLACE:

During the year under review there were no cases reported pursuant to the SexualHarassment of Women at Workplace (Prevention Prohibition and Redressal) Act 2013.

APPRECIATION AND ACKNOWLEDGEMENT:

Your Directors would like to express their appreciation for the assistance andco-operation received from the Government authorities banks customers businessassociates and members during the year under review. Your Directors also wish to place onrecord their deep sense of appreciation for the committed services by the executivesstaff and workers of the Company.

BY ORDER OF THE BOARD OF DIRECTORS
For ALNA TRADING AND EXPORTS LIMITED
Sd/- Sd/-
ANWAR HUSAIN CHAUHAN AFTAB ALAM
(DIRECTOR) (DIRECTOR)
DIN:00322114 DIN: 06873806
PLACE : MUMBAI
DATED : 29th May 2021
REGISTERED OFFICE :
Allana House 4 J.A. Allana Road
Colaba Mumbai-400 001.

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