You are here » Home » Companies » Company Overview » Ambitious Plastomac Company Ltd

Ambitious Plastomac Company Ltd.

BSE: 526439 Sector: Others
NSE: N.A. ISIN Code: INE267C01013
BSE 00:00 | 02 Mar Ambitious Plastomac Company Ltd
NSE 05:30 | 01 Jan Ambitious Plastomac Company Ltd
OPEN 1.70
PREVIOUS CLOSE 1.70
VOLUME 700
52-Week high 1.70
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.70
CLOSE 1.70
VOLUME 700
52-Week high 1.70
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Ambitious Plastomac Company Ltd. (AMBITIOUSPLASTO) - Director Report

Company director report

Dear Members

Your Directors have pleasure in presenting the 29th Annual Report onbusiness and operations of the Company together with the Audited Financial Statements ofthe Company for the year ended on 31st March 2020.

I. FINANCIAL RESULTS:

The financial performance of the Company for the year ended 31st March 2020is summarized below:

(Amount in Rupees)
FINANCIAL RESULTS F.Y 2019-20 F.Y 2018-19
Total Revenue from Operations (Net) Incl. 300 8299927
Changes in Inventories)
Total Expenditure (Excluding Depreciation) 1738499 13178731
Gross Profit/(Loss) (1738199) (4878804)
Less:
Depreciation - -
Provision for Taxation 62970 -
Earlier year's Tax - -
Deferred Tax liabilities - -
Extra Ordinary Items investments written off) - -
Profit/ (Loss) after Tax (PAT) (1801169) (4878804)

II. OVERVIEW OF COMPANY'S FINANCIAL PERFORMANCE:

During the period under review your Company has made a loss of Rs. 18.01 Lacs howeveryour directors are confident and optimistic of achieving upward growth and achieving muchbetter results in the coming years.

III. AMOUNT TRANSFERRED TO RESERVE:

During the year under review the Company has not transferred any amount to reserves.

IV. DIVIDEND:

As the Company has incurred losses during the financial year your directors have notrecommended any dividend for the year.

V. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND:

Since there was no unpaid/unclaimed Dividend declared and paid last year theprovisions of Section 125 of the Companies Act 2013 do not apply.

VI. CHANGES IN SHARE CAPITAL:

At present the paid up Equity Share Capital of the Company is Rs. 58100000/-(FiveCrore Eighty One Lakh rupees only). The company has neither issued shares withdifferential rights as to dividend voting or otherwise nor issued shares (including sweatequity shares) to the employees or directors of the company under any scheme. YourCompany does not have any ESOP scheme for its employees/Directors.

VII. PUBLIC DEPOSITS:

The Company has not accepted or renewed any amount falling within the purview ofprovisions of Section 73 and 76 of the Companies Act 2013 ("the Act") read withthe Companies (Acceptance of Deposit) Rules 2014 during the period under review. Hencethe requirement for furnishing the details of deposits which are not in compliance withChapter V of the Act is not applicable. The question of non compliance of the relevantprovisions of the law relating to acceptance of deposit does not arise.

VIII. CHANGE IN THE NATURE OF THE BUSINESS:

During the year the Company has altered its Main Object clause of Memorandum ofAssociation through Postal Ballot held on 31st August 2019.

IX. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

During the year under review the Company has not entered into any contracts orarrangements with related parties in terms of Section 188(1) of the Companies Act 2013.

X. PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THECOMPANIES ACT 2013:

The company has not given any loans or guarantees nor made any investment covered underthe provisions of section 186 of the Companies Act 2013during the financial period underreview.

XI. POSTAL BALLOT

During the year pursuant to Section 110 of the Companies Act 2013 read with theCompanies (Management and Administration) Rules 2014(including any statutory amendment(s)or re-enactment(s) made thereunder) your Company passed the following resolution throughpostal ballot as per the details below:

Date of Postal ballot Notice:30/07/2019

Date of declaration of result:31/08/2019

Voting period:31/07/2019 to 29/08/2019

Date of approval: 31/08/2019

Name of Resolution Type of Resolution No of Votes Polled Votes cast in Favor Votes cast against
No of Votes % No of Votes %
Change in the name of Company from "Ambitious Plastomac Company Limited" to "Royal Realty Developers Limited" or any other name as may be approved by the office of the SRegistrar of Companies Central Registration Centre Special 2120100 2120100 100 - -
Alteration of Main Object of the Company Special 2120100 2120100 100 - -

XII. MATERIAL CHANGES AND COMMITMENT AFFECTING THE FINANCIAL POSITION OF THE COMPANYWHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THEFINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:

No material changes and commitments affecting the financial position of the Companyoccurred between the end of the financial year to which this financial statements relateand the date of this report.

Due to spread of Novel Corona Virus (COVID-19) there has been complete lockdown by thegovernment from 21st March 2020 to 17th June 2020.

XIII. DISCLOSURE OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY REGULATORS OR COURTS ORTRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE:

No orders have been passed by any Regulator or Court or Tribunal impacting on thegoing concern status and the Company's operations in future.

XIV. SUBSIDIARIES JOINT VENTURES AND ASSOCIATE COMPANIES:

The Company does not have any Subsidiary Joint venture or Associate Company.

XV. ADEQUACY OF INTERNAL FINANCIAL CONTROLS:

In Pursuant to Section 134(5)(e) of the Companies Act 2013 the Internal FinancialControls with reference to financial statements as designed and implemented by the Companyare adequate. The nature of the Company's business and size and complexity of itsoperations are in place and have been operating satisfactorily. Internal control systemsconsisting of policies and procedures are designed to ensure reliability of financialreporting timely feedback on achievement of operational and strategic goals compliancewith policies procedure applicable laws and regulations and that all assets andresources are acquired economically used efficiently and adequately protected.

During the period under review no material or serious observation has been receivedfrom the Internal Auditors of the Company for inefficiency or inadequacy of such controls.

XVI. PARTICULARS OF EMPLOYEES

(Disclosure under Rule 5 of Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014):

The information required under Section 197 of the Companies Act 2013 read with rule5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014is not provided as no remuneration is paid to any of the directors of the company. Noemployee of the Company of the Company was in receipt of the remuneration exceeding thelimits prescribed in the rule 5(2) of the Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014.

XVII. EXTRACT OF ANNUAL RETURN:

The extract of the Annual Return pursuant to the provisions of Section 92 read withRule 12 of the Companies (Management and administration) Rules 2014 in Form MGT-9 isappended here in Annexure- "A" to this Report.

XVIII. PARTICULARS OF CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGNEXCHANGE EARNINGS AND OUTGO:

i) CONSERVATION OF ENERGY :

• The steps taken or impact on conservation of energy:

As the Company does not have heavy plant and machineries which could have consume moreelectricity therefore the Company has not taken any steps towards conservation ofenergy.

• The steps taken by the Company for utilizing alternate sources of energy:

The Company has not taken any steps to use alternate sources of energy.

• The Capital investment on energy conservation equipments: Nil

ii) TECHNOLOGY ABSORPTION :

• The efforts made towards technology absorption: No

• The benefits derived like product improvement cost reduction productdevelopment or import substitution: Nil

• In case of imported technology (imported during the last three years reckonedfrom the beginning of the financial year)- Not Applicable

• the details of technology imported

• the year of import; • whether the technology been fully absorbed;

• if not fully absorbed areas where absorption has not taken place and thereasons thereof; and

• The expenditure incurred on Research and development ( R& D ) : NIL

iii) FOREIGN EXCHANGE EARNINGS & OUT GO :

Foreign Exchange Earning : NIL Foreign Exchange Outgo :NIL

XIX. AUDITORS :

The matters related to Auditors and their Reports are as under:

A. Statutory Auditors

Pursuant to the provisions of Section 139 of the Companies Act 2013 and the rules madethereunder the current auditors of the Company M/s J. T. Shah & Co. CharteredAccountants (Firm Registration No. 109616W) were appointed for a term of five consecutiveyears by the shareholders at the 28th Annual General Meeting and they hold office untilthe conclusion of the 32nd Annual General Meeting.

However in accordance with the Companies Amendment Act 2017 enforced on 7th May2018 by the Ministry of Corporate Affairs the appointment of Statutory Auditors is notrequired to be ratified at every Annual General Meeting.

Management's response on the statutory auditor's Qualification/Comments on theCompany's financial statements

Qualification

The Company has not provided for undisputed income tax liability of Rs.23760220/- inrespect of earlier years. The company has also not provided the interest payable on thesaid amount of unpaid taxes the figure of which is unascertainable in absence ofnecessary information. The accounting treatment followed by the company in this regard isnot in accordance with Ind AS 12 "Income taxes". As a result of non provision ofundisputed tax liability the debit balance of other equity and Current tax liability inthe balance sheet are under stated to the extent of Rs.23760220/- . In the absence ofnecessary information in respect of interest payable on income tax its impact on thefinancial statements including loss for the year is not quantifiable.

Response

There has been change in the management of the company. The present management of theCompany was not aware about outstanding tax liabilities of the Company relating to earlierassessment year 2003-04 and 2004-05. We came to know about such outstanding taxliabilities only on receipt of Notice dated 08/02/2019 from Income Tax department. We havenot provided such outstanding in the financials of the Company for the year 2019-20 as weare exploring the various available option to the Company in the matter of suchoutstanding tax liabilities of Rs.232.66 lacs

B. Secretarial Auditors

Section 204 read with Section 134(3) of the Companies Act 2013 mandates to obtainSecretarial Audit Report from Practicing Company Secretary. M/s Vishwas Sharma &Associates Practising Company Secretaries had been appointed as Secretarial Auditor ofthe Company for the financial year 2019-20

Secretarial Audit Report issued by M/s Vishwas Sharma & Associates PractisingCompany Secretaries in Form MR-3 attached and marked as Annexure-"B" forthe period under review forms part of this report.

The said report contains certain observation or qualifications which are as under:

Qualification Explanation
Non compliance of regulations of 31 (2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 which stipulates hundred percent of shareholding of promoter(s) and promoter group should be in Dematerialized form however the process of dematerialization of hundred percent of shareholding of promoter(s) and promoter group has not been completed. The Board would like to explain on the said observation that the shareholding of the concerned Promoters whose shareholding are yet to be dematerialized have confirmed to initiate the process of converting their shares into demat form.
Non-Compliance of the regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 which stipulates that a listed entity shall file the outcome and financial result within 30 minutes of completion of board meeting in which it is declared. The Board of Directors of the Company would like to inform you that due to internet connective error the Company couldn't upload the desired information within the stipulated time period.
Non-compliance of regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 i.e. Advertisements in Newspapers for the results of the quarter ended 31st March 2019. The Board of Directors of the Company would like to inform you that due to inadvertent error the company failed to publish advertisements in newspaper as per Regulation 47 of SEBI (LODR) Regulation 2015 and hereby assure you that such error would not happen in future.
Non-compliance of regulation 76 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 i.e. Reconciliation of Share Capital Audit Report for the quarter ended 30th September 2019. The Board of Directors of the Company would like to inform you that your Company was under process to change its Registrar and Share Transfer Agent (RTA) and during that process change of RTA happened with only NSDL and due to certain technical reason couldn't completed with other depository and also of transfer of physical share records and therefore we couldn't receive the information in time from our RTA and that caused delay in submission of ROSCAR within the stipulated time period.
The Company has failed to file Form MGT 14 under section 117 of Companies Act 2013 for the change in object clause of the company through Postal Ballot. The Board of Directors of the Company would like to inform you that due to inadvertent the company failed to file the Form MGT 14 for the change in object clause of the company through Postal Ballot. We have now initiated the process to file the certified true of the Shareholders Resolution carried out through postal ballot process and will ensure that such error should not happen in future.
The Company has failed to comply with the procedure of Name change under section 13 of Companies Act 2013. The Board of Directors of the Company would like to inform you that the Company has filed the RUN for the name change and the same has been rejected thus further process is not completed.

Cost Auditors

The Company has not appointed the Cost Auditor as pursuant to Section 148(1) of theCdompanies Act 2013 read with the Companies (Cost Records and Audit) Amendment Rules2014 as the cost audit is not applicable to the Company.

XX. MATTERS RELATED TO DIRECTORS AND KEY MANAGERIAL PERSONNEL:

a) Composition of Board:

Name of Director Designation Category
(DIN)
Mr. Pinkal Rajeshbhai Patel Chairman & Managing Promoter Executive
(DIN:06512030) Director
Mr.Hardik Kanubhai Patel Director Non-executive Independent
(DIN:06512241)
Mr. Nimesh Khodabhai Patel Director Non-executive Independent
(DIN:06624565)
Ms. Rajvi Pinkal Patel Women Director Promoter Non-executive
(DIN:06589233)

b) Retire by Rotation and subsequent re-appointment:

In accordance with the provisions of the Companies Act 2013 and Companies Articles ofAssociation Mr. Pinkal Patel Director (DIN: 06512030) retires by rotation at theensuing Annual General Meeting and being eligible offers himself for re-appointment. TheBoard recommends his reappointment. Necessary resolution for his re-appointment is placedbefore the shareholder for approval.

c) Director Appointment/Cessations:

During the year under review there were no appointments / Cessations on board of theCompany.

d) Key Managerial Personnel:

In the meeting of Board of directors held on 06th December 2019 Ms. AmiSuthar has resigned from the post of Company Secretary and Compliance Officer and theboard has appointed Mr. Simer Singh Bhatia as Company Secretary and Compliance Officer ofthe Company with effect from 06th December 2019.

As on the date of this report the following persons are the Key ManagerialPersonnel(s) of the Company:

1. Mr. Pinkal Rajeshbhai Patel - Managing Director (DIN: 06512030)

2. Mr. Monark Rajeshbhai Patel Chief Financial officer

3. Mr. Simer Singh Bhatia Company Secretary and Compliance officer.

e) Declaration By Independent Director:

Mr. Hardik Kanubhai Patel (DIN:06512241) and Mr. Nimesh Khodabhai Patel (DIN:06624565)are the existing Independent Directors the Company.

Your Company has received a statement of declarations from both the IndependentDirectors that they meet the criteria of independence as laid down under the section149(6) of the Companies Act 2013 with the Schedules and Rules issued thereunder and alsoin accordance to Regulation 16(1)(b) of Securities and Exchange Board of India (ListingObligations and Disclosures Requirements) Regulations 2015.

f) Board Evaluation:

Pursuant to the provisions of the Companies Act 2013 as provided under ScheduleIV(Code of independent director) of the Act and the Regulation 17(10) of SEBI (ListingObligations and Disclosure Requirements) Regulations 2015 made there undertheIndependent Directors held their meeting to evaluate the performance of the NonIndependent Directors and the Board as a whole. Each Board member's contribution theirparticipation was evaluated and the domain knowledge they brought.

They also evaluated the manner in which the information flows between the Board and theManagement and the manner in which various documents are prepared and furnished by theBoard.

Subsequently the Board adopted a formal mechanism for evaluating its performance and aswell as that of its Committees and individual Directors including the Chairman of theBoard. The exercise was carried out through a structured evaluation process coveringvarious aspects of the Board functioning such as composition of the Board &committees experience & competencies performance of specific duties &obligations contribution at the meetings and otherwise independent judgment governanceissues etc.

XXI. DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act 2013 (including any statutorymodification(s) or re-enactment(s) for the time being in force) the Board of Directors ofyour company states its responsibility Statement:

i. In the preparation of the annual accounts for the financial year ended 31stMarch 2020 the applicable accounting standards and Schedule III of the Companies Act2013 (including any statutory modification(s) or re-enactment(s) for the time being inforce) have been followed along with proper explanation relating to material departures;

ii. The directors had selected such accounting policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial year as at 31st March 2020 and of the profit or loss of the Companyfor the year ended 31st March 2020.

iii. The directors had taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of Companies Act 2013(including any statutory modification(s) or re-enactment(s) for the time being in force)for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities.

iv. The directors had prepared the annual accounts on a going concern basis.

v. The directors had laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate and were operatingeffectively.

vi. The directors had devised proper system to ensure compliance with theprovisions of all applicable laws and that such system were adequate and operatingeffectively.

XXII. NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW AND DATES:

The Company had conduct 6 (Six) Board meetings during the financial year 2019-20 underreview on: 30th May 2019 12th July 2019 12th August2019 13th November 2019 06th December 2019 and 13thFebruary 2020.

The details of attendance of Directors at the Board Meetings is as under:

Name of Director(s) Number of Board Meetings held and attended during the year Attended Last AGM
Held during the tenure Attended
Mr. Pinkal Rajeshbhai Patel 6 6 Yes
Mr.Hardik Kanubhai Patel 6 6 Yes
Mr. Nimesh Khodabhai Patel 6 6 Yes
Ms. Rajvi Pinkal Patel 6 6 Yes

XXIII. COMMITTEES OF THE BOARD:

The Board Committees are set up under the formal approval of the Board to carry outclearly defined roles under which are considered to be performed by members of the Board.The Board supervises the execution of its responsibilities by the Committees and isresponsible for their action.

A) AUDIT COMMITTEE:

Pursuant to the provisions of section 177(8) of the Companies Act 2013 the Boardhereby discloses the composition of the Audit Committee and other relevant matters asunder:

Composition of the Committee:

Name of Directors Category Designation Number of Meeting Held Number of Meeting Attended
Mr. Nimesh K. Patel Non-executive & Independent Chairman 4 4
Mr. Pinkal R. Patel Executive (Promoter) Member 4 4
Mr. Hardik K. Patel Non-executive & Independent Member 4 4

The Audit Committee acts in accordance with the terms of reference specified by theBoard of Directors of the Company. Further during the period under review the Board ofDirectors of the Company had accepted all the recommendations of the Committee.

During the Year 4 (Four) meetings of the Committee were held on 30th May2019 12th August 2019 13th November 2019 and 13thFebruary 2020.

The necessary quorum was present at the Meetings.

Vigil Mechanism/Whistle Blower Policy:

Your Company is committed to highest standards of ethical moral and legal businessconduct of business operations.Accordingly the Board of Directors of the Company haspursuant to the provisions of Section 177(9) of the Companies Act 2013 read with Rule 7of the Companies (Meetings of Board and its Powers) Rules 2014 framed the Whistle BlowerPolicy for Directors and employees of the Company to provide a mechanism which ensuresadequate safeguards to employees and Directors from any victimization on raising ofconcerns of any violations of legal or regulatory requirements incorrect ormisrepresentation of any financial statements and reports etc.

The employees of the Company have the right/option to report their concern/grievance tothe Chairman of the Audit Committee. No person has been denied access to the chairman ofthe Audit Committee.

During the financial year 2019-20 all the directors and employees had full access toapproach the Vigil Mechanism Officer. No complaint was received during the year 2019-20 ofany sort from any directors and employee of your company. Whistle Blower Policy isdisclosed on the website of the Company www.ambitiousplastomac.com.

B) NOMINATION AND REMUNERATION COMMITTEE:

Composition of the Committee:

Name of Directors Category Designation Number of Meeting Held Number of Meeting Attended
Mr. Nimesh K. Patel Non-executive & Independent Chairman 1 1
Mrs. Rajvi Patel Non Executive (Promoter) Member 1 1
Mr. Hardik K. Patel Non-executive & Independent Member 1 1

The Board has in accordance with the provisions of sub-section (3) of Section 178 ofthe Companies Act 2013 formulated the policy setting out the criteria for determiningqualifications positive attributes independence of a Director and policy relating toremuneration for Directors Key Managerial Personnel and other employees. The said policyis available on the website of the Company i.e. www.ambitiousplastomac.com.

During the Year 1 (One) meetings of the Committee were held on 06thDecember 2019

C) STAKEHOLDERS RELATIONSHIP COMMITTEE:

During the period under review pursuant to Section 178(5) of the Companies Act 2013Regulation 20 of the Listing (Obligations and Disclosure Requirements) Regulations 2015with Stock Exchanges. The Board of Directors of the Company constituted the Stakeholder'sRelationship Committee.

Composition of the Committee:

Name of Directors Category Designation
Mr. Nimesh K. Patel Non-executive Independent Chairman
Mr. Pinkal R. Patel Executive (Promoter) Member
Mr. Hardik K. Patel Non-executive & Independent Member

Independent Directors' Meeting:

The Independent Directors of the Company met during the year on 13thNovember 2019 without the attendance of non Independent Directors and members of theBoard. The Independent Directors reviewed the performance of the non-independent Directorsand Board as whole. the performance of the Chairman taking into account the views ofexecutive Directors and non-executive Directors and assessed the quality quantity andtimeline of flow of information between company management and Board.

Details of Investor's grievances/ Complaints

No. of investors' complaints received by the RTA/ Company during the year: Nil

No. of complaints not solved to the satisfaction of shareholders/Investors during theyear: Nil No. of complaints pending as at the end of the current financial year 31stMarch 2020: Nil

Compliance Officer

The Compliance officer of the Company is Mr. Simer Singh Bhatia w.e.f 06thDecember 2019.

XXIV. MANAGEMENT'S DISCUSSION AND ANALYSIS REPORT:

The Management's Discussion and Analysis Report for the year under review asstipulated under

Regulation 34(2)(e) of the Listing Regulations is given as an annexure to this report.

XXV. CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:

The provision of section 135(1) of Companies Act 2013 i.e. Corporate SocialResponsibility is not applicable on the company. Therefore the company has nor constitutedand developed CSR committee neither taken any steps towards Corporate SocialResponsibility.

XXVI. STATEMENT REGARDING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT

POLICY:

The Company does not have any Risk Management Policy or any statement concerningdevelopment and implementation of risk management policy of the company as the elements ofrisk threatening the Company's existence are very minimal.

XXVII. CORPOTRATE GOVERNANCE:

As per the provisions of SEBI (Listing Obligations and Disclosures requirement)Regulation 2015 the annual report of the listed entity shall contain CorporateGovernance Report and it is also further provided that if the Company is not having thepaid up share capital exceeding Rs. 10 crores and Net worth exceeding Rs. 25 crores thesaid provisions are not applicable. As our Company does not have the paid up share capitalexceeding Rs. 10 crores and Net worth exceeding Rs. 25 crores the Corporate GovernanceReport is not applicable and therefore not provided by the Board.

XXVIII. DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTIONPROHIBITION & REDRESSAL) ACT 2013:

As per the requirement of The Sexual Harassment of Women at Workplace. (PreventionProhibition & Redressal) Act 2013 and rules made thereunder your Company hasconstituted Internal Complaints Committee (ICC) which is responsible for redressal ofcomplaints related to sexual harassment.

Your Directors declared and confirm that during the year under review there is nocase filed under Sexual Harassment of Women at Workplace (Prevention Prohibition andRedressal) Act 2013.

ACKNOWLEDGEMENT:

Your Directors wish to acknowledge and place on record their appreciation for thesupport extended by Bankers and Office bearers of Government Department and FinancialInstitutions. Your Directors thank all esteemed customers suppliers and businessassociates for their faith trust and confidence reposed in the Company. Your Directorsalso acknowledge the continued invaluable support extended by you our shareholders and theconfidence that you have placed in the company.

Date: 05/09/2020 By Order of the Board of Directors
Place: Ahmedabad For Ambitious Plastomac Company Limited
Registered Office:- Sd/-
405 Royal Square Nr. JBR Arcade Pinkal R. Patel
Science City Road Sola Chairman & Managing Director
Ahmedabad - 380060 DIN: 06512030

.