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Amit International Ltd.

BSE: 531300 Sector: Industrials
NSE: N.A. ISIN Code: INE053D01015
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OPEN 3.20
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VOLUME 146
52-Week high 4.15
52-Week low 2.24
P/E 45.71
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Amit International Ltd. (AMITINTERNATION) - Director Report

Company director report

To

The Members

Amit International Limited

Your directors present Annual report on the business and operations of the companytogether with Audited Statement of Accounts of the company for the year ending 31st March2020.

The particulars pursuant to sub section 3 of section 134 of the companies act 2013 aregiven below.

a) The web address if any where annual report referred to in subsection (3) ofsection 92 has been placed:

The extract of Annual return is in format MGT-9 for the financial year ended 31/03/2020is enclosed as "Annexure A" with this report. The same is available onwww.amitinternational.in

b) Number of meetings of the Board:

During the year 2019-20 5 meetings of Board of Directors were held.

c) Directors' Responsibility Statements:

The directors' state that

I) In the preparation of annual accounts for the financial year ended 31st March 2020the applicable accounting standards had been followed along with proper explanationrelating to material departures;

ii) The directors had 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 as at 31st March and of the profit / lossof the company for that period;

iii) The directors had 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;

iv) The director had prepared the annual accounts on a going concern basis;

v) The director had laid down internal financial controls to be followed by the companyand that such internal financial controls are adequate and were operating effectively.

vi) The director had devised proper systems to ensure compliance with the provisions ofall applicable laws and that such systems were adequate and operating effectively.

ca) Details of frauds reported by auditors under sub-section (12) of section 143 otherthan those which are reportable to the central government.

Auditor has not reported any fraud under sub-section (12) of section 143 of TheCompanies Act 2013.

d) A Statement on Declaration given by Independent Directors under sub-section (6) ofsection 149.

The independent Directors have submitted declaration pursuant to Section 149(7)confirming that he meets the criteria of independence pursuant to section 149(6). Thestatement has been noted by Board of Directors.

e) If Company covered under sub-section (1) of section 178 company's policy ondirectors' appointment and remuneration including criteria for determining qualificationspositive attributes independence of director and other matter provided under sub-section(3) of section 178.

The Board has on the recommendation of the Nomination and Remuneration Committeeframed a policy for selection and appointment of director and key managerial personal andtheir remuneration. The policy is disclosed at "Annexure B" in pursuance ofprovision to section 178(3) of the companies Act 2013.

The Company does not pay any remuneration to the Non- Executive/Independent Directorsof the company other than sitting fees for attending the meeting of the Board / Committee.Remuneration to the Whole Time Director / Managing Director is governed by the relevantprovisions of the Companies Act 2013.

f) Explanations or comments by the board on every qualification reservation or adverseremark or disclaimer made by the auditor in his report / by the company secretary inpractice in his secretarial audit report.

The disclosures made by the statutory auditors in the report are self explanatory andno explanation by the board is required.

The Secretarial Audit Report pursuant to Section 204 of the Companies Act 2013 inprescribed Form MR-3 is attached to as "Annexure C" to this report. The Companyhas taken note of Qualification Reservation etc in the Said report and shall makearrangement for necessary compliance in future.

g) Particulars of loans guarantees or investments under section 186 of Companies act2013

Company has not during the year under review

(a) given any loan to any person or other body corporate

(b) Given any guarantee or provide security in connection with a loan to any other bodycorporate or person; and

(c) Acquired by way of subscription purchase or otherwise the securities of any otherbody corporate Exceeding sixty per cent of its paid-up share capital free reserves andsecurities premium account or one hundred per cent of its free reserves and securitiespremium account whichever is more and hence the particulars are not required to beincluded in this report.

h) Particulars of contracts or arrangements with related parties referred to insub-section (1) of section 188 in the prescribed form (Form AOC-2)

The company has not entered into transactions referred to in section 188(1) of TheCompanies Act 2013 with related party and as such no particulars in form AOC-2 arerequired to be attached to this report.

I) The state of Company's affairs

There is no Material change in the state of affairs of the company. The other income ofthe company has been increased from Rs. 5226880/- in the year 2018-19 to Rs. 5907890/-in the year 201920. There was profit of Rs. 3132222/- in the year 2018-19 whereas in theyear 2019-20 company had a profit of Rs. 1004731/-.

The Company has not issued any share capital or Debentures during the year. There is nochange in the status of the company or the accounting year.

j) The amount if any which it proposes to carry to any reserves

The Directors do not propose to carry any amount to reserves.

k) The amount if any which it recommends should be paid by way of dividend

The Directors do not recommend any amount to be paid by way of dividend.

l) Material Changes and commitments if any Affecting the Financial Position of theCompany which have occurred between the Ends of the financial year of the company to whichthe financial statements relate and the date of the report.

There are no material changes and/or commitments affecting financial position of theCompany occurred after end of financial year till date of this report.

m) The Conservation of Energy Technology Absorption Foreign Exchange Earnings andOutgo in such manner as may be prescribed.

Information and details pursuant to Rule 8(3) of the companies (Accounts) Rules 2014with respect to above is given below:

(A) CONSERVATION OF ENERGY-

I) The steps taken or impact on conservation of energy: NIL

ii) The steps taken by the company for utilizing alternate sources of energy: NIL

iii) The capital investment on energy conservation equipments: NIL

(B) TECHNOLOGY ABSORPTION-

I) The efforts made towards technology absorption: Not Applicable

ii) The benefits derived like product improvement cost reduction product developmentor import substitution: Not Applicable

iii) In case of imported technology (imported during the last three years reckoned fromthe beginning of the financial year)-

a. The details of technology imported: Not Applicable

b. The year of import: Not Applicable

c. Whether the technology been fully absorbed: Not Applicable

d. If not fully absorbed areas where absorption has not taken place and the reasonsthereof: Not Applicable and

iv) The expenditure incurred on Research and Development: NIL

(C) FOREIGN EXCHANGE EARNINGS AND OUTGO-

Foreign Exchange earned (actual inflows during the year): NIL Foreign Exchange outgo(actual outflows): NIL

n) A statement including development and implementation of a Risk Management Policy forthe company including identification therein of elements of risk if any which in theopinion of the board may threaten the existence of the company

The Directors do not foresee any risk that may threaten the existence of the company innormal course. The Directors proposes to develop and implement specific Risk ManagementPolicy on identification of any risk.

o) The details about the policy developed and implemented by the company on corporatesocial responsibility initiatives taken during the year;

Since the Net Worth of the company is below Five Hundred crores Turnover of thecompany is below One thousand crores Net Profit of the company is below Five crores. Theprovision of Section 135 of The Companies Act 2013 are not applicable to the company andhence the company is not required undertake any corporate Social Responsibility (CSR)initiatives.

p) In case of a listed company and every other public company having such paid-up sharecapital as may be prescribed a statement indicating the manner in which formal annualevaluation has been made by the Board of its own performance and that of its committeesand individual directors:

Pursuant to provision of the Companies Act 2013 the board has carried out the annualperformance evaluation of its own performance as well as the evaluation of the AuditNomination & Remuneration Committee.

The chairman of Board of directors and the chairman of Nomination & remunerationCommittee met all the directors individually to get an overview of the functioning of theboard and its constituents inter alia on the following board criteria i.e. attendance andlevel of participation independence of judgment exercised by independent directorsinterpersonal relationship etc. Based on the valuable inputs received the directors areencouraged for effective role in company management.

q) Such other matters as may be prescribed.

(Pursuant to rule 8(5) of The Companies (Accounts) Rules 2014)

i) The Financial summary or highlights

The summary of financial Results (standalone) for the year under review is as under:

Particulars As on 31/03/2020 As on 31/03/2019
Turnover and other income 5907890 5226880
Gross profit/Loss (-) before Financial Charges & depreciation 1305187 4015034
Interest and Financial Charges 456 0
Profit / Loss(-) before depreciation 1304731 4015034
Depreciation and Amortization Expense 0 882812
Profit / Loss(-) After Tax for the year 1004731 3132222

ii) The Change in the nature of business if any:

There is no Material change in nature of business of the company.

iii) The Details of Directors or key managerial personnel who were appointed or haveresigned during the year:

Details of Appointment and Resignation of KMP during the year are as under:-

Sr. No. Name Date of Date of

Appointment Resignation

""01 Payal Rathi 01/06/20190 3/03/2020

iv) The names of companies w iich have become or ceased to be its Subsidiaries jointventures or associate companies during the year:

No company has become or ceases to be subsidiary joint venture or associate companyduring the year.

v) The details relating to deposits covered under Chapter V of the Act-

(a) Accepted during the year: NIL

(b) Remained unpaid or unclaimed as at the end of the year: NIL

Whether there has been any default in repayment of deposits or payment of interestthereon during the year and if so number of such cases and the total amount involved-

(I) At the beginning of the year: Not Applicable

(ii) Maximum during the year: Not Applicable

(iii) At the end of the year: Not Applicable

vi) The details of deposits which are not in compliance with the requirements ofChapter V of the Act: NIL

vii) The details of significant and material orders passed by the regulators or courtsor tribunals impacting the going concern status and company's operations in future: NIL

viii) The details in respect of adequacy of internal financial controls with referenceto the Financial Statements

The company has in place adequate internal financial controls with reference tofinancial statements. Periodic audits are undertaken on continuous basis covering allmajor operation. During the year no Reportable Material weakness in the operation wasobserved.

ix) A disclosure as to whether maintenance of cost records as specified by the CentralGovernment under sub-section (1) of section 148 of the Companies Act 2013 is required bythe Company and accordingly such accounts and records are made and maintained.

Company is not required to maintain the cost records as specified by the CentralGovernment under sub-section (1) of section 148 of the Companies Act 2013.

x) A statement that the company has complied with provisions relating to theconstitution of Internal Complaints Committee under the Sexual Harassment of Women atWorkplace (Prevention Prohibition and Redressal) Act 2013.

The Company has adopted a policy on prevention prohibition and Redressal of Sexualharassment at workplace and has duly constituted an Internal Complaints Committee in linewith the provisions of the Sexual Harassment of Women at Workplace (PreventionProhibition and Redressal) Act 2013.

Disclosures under Companies (Appointment and Remuneration of Managerial Personnel)Rules 2014.

Sr. No. Requirement under Rule 5(1) Details
(i) The ratio of the remuneration of each director to the median remuneration of the employees of the company for the financial year. 1:5
(ii) The percentage increase in remuneration of each director chief financial officer Chief Executive officer company secretary or manager in the financial year. Nil
(iii) The percentage increase in the median remuneration of employees in the financial year. Not applicable as there is no increase in remuneration of employees.
(iv) Number of permanent employees on the rolls of the company as on 31st March 2020. 2
(iv) Average percentile increase already made in the salaries of the employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration. Not applicable as there is no increase in the salary of managerial personnel.
(iv) Affirmation that the remuneration is as per the remuneration policy of the company. The company affirms remuneration is a per the remuneration policy of the company.

No Employee of the company has been paid Remuneration in excess of limits laid down inrule 5(2) of the companies (Appointment and Remuneration of Managerial Personnel) Rules2014 and hence statement showing details thereof is not applicable.

Audit Committee

An Audit Committee is in existence under provisions of Section 177 of the CompaniesAct 2013 and Regulation 18 of Securities and Exchange Board of India (Listing Obligationsand Disclosure Requirements) Regulations 2015. The Audit committee comprises of 3directors namely Mr. Vikesh Vinod Ganatra Mr. Kirti Jethalal Doshi and Mr. Naresh NanalalVaghani. Mr. Vikesh Vinod Ganatra is the Chairman of the Audit Committee. During the yearthere was no instance where the board had not accepted the Recommendation of AuditCommittee.

Vigil Mechanism / Whistle Blower Policy

Pursuant to section 177(9) of the Companies Act 2013 read with Rule 7 of the Companies(Meetings of Board and its Power) Rules 2014 the Board of Director has adopted vigilmechanism in the form of Whistle Blower Policy through which its Directors Employees andStakeholders can report their genuine concerns about unethical behaviors actual orsuspected fraud or violation of the Company's code of conduct or ethics policy.

It is the Company's Policy to ensure that no employee is victimised or harassed forbringing such incidents to the attention of the Company. The practice of the WhistleblowerPolicy is overseen by the Audit Committee of the Board and no employee has been deniedaccess to the Committee. The said policy provides for adequate safeguards againstvictimization and also direct access to the higher levels of supervisors.

Mr. Vikesh Vinod Ganatra the Chairman of the Audit Committee can be contacted toreport any suspected/confirmed incident of fraud/misconduct on:

Email id.: amitintl03@yahoo.com Contact no.: 022-2209 5533

Your Company hereby affirms that no Director/Employee has been denied access to theChairman of the Audit Committee and that no complaints were received during the year.

The Board of Directors place on records the services of all stakeholders and associateswho have co-operated in the working of the Company

By Order of the Board of Directors

For Amit International Limited

Sd/-

Kirti Doshi

(DIN: 01964171)

Chairman and Managing Director

Place: Mumbai

Date: 18.07.2020

Form No. MGT-9

EXTRACT OF ANNUAL RETURN

As on the financial year ended on 31.03.2020 [Pursuant to section 92(3) of theCompanies Act 2013 and rule 12(1) of the Companies (Management and Administration)Rules 2014]

 

I. REGISTRATION AND OTHER DETAILS:

i. CIN U17110MH1994PLC076660
ii. Registration Date 18.02.1994
iii. Name of the Company Amit International Limited
iv. Category / Sub-Category of the Company Company Limited By Shares / Indian Non Government Company
v. Address of the Registered office and contact details A/403 Dalamal Chambers New Marine Lines Mumbai 400020
vi. Whether listed company Listed Company
vii. Name Address and Contact details of Registrar and Transfer Agent if any Universal Capital Securities Pvt. Ltd. 21 Shakil Niwas Opp Satya Saibaba Temple Mahakali Caves Road Andheri (E)Mumbai Maharashtra 400093

 

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

All the business activities contributing 10 % or more of the total turnover of thecompany shall be stated:-

Sr No Name and Description of main products / services NIC Code of the Product / service % to total turnover of the company
N.A.

III. PARTICULARS OF HOLDING SUBSIDIARY AND ASSOCIATE COMPANIES -

Sr. No. Name and Address of the Company CIN/GLN Holding / Subsidiary/ Associate % of Shares Held Applicable Section
N IL

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)i) Category-wise Share Holding

Category of Shareholders

No. of Shares held at the beginning of the year

No. of Shares held at the end of the year

%Chan ge During the year

Demat Physical Total %of Total Shares Demat Physical Total %of Total Shares
A. Promoters
(1) Indian
a) Individual/ HUF 3314323 0 3314323 17.49 3314323 0 3314323 17.49 -
b) Central Govt. " " " " " " " " "
c) State Govt.(s) " " " " " " " " "
d) Bodies Corp. - - - - - - - - -
e) Banks / FI - - - - - - - - -
f) Any other - - - - - - - - -
Sub- Total (A)(1):- 3314323 0 3314323 17.49 3314323 0 3314323 17.49 -
(2) Foreign
a) NRIs- Individual " " " " " " " " -
b) Other- Individuals " " " " " " " " -
c) Bodies Corp. " " " " " " " " -
d) Banks/FI - - - - - - - - -
e) Any Other - - - - - - - - -
Sub-Total (A)(2):- " " " " " " " " -
Total Shareholding of Promoters (A)= (A)(1)+(A)(2) 3314323 0 3314323 17.49 3314323 0 3314323 17.49
B. Public Shareholding
(1) Institutions
a) Mutual Funds " - " " " - " " -
b) Banks / FI -
c) Central Govt " - " " " - " " -
d) State Govt(s) - - - - - - - - -
e) Venture Capital Funds
f) Insurance Companies " - " " " - " " -
g) Fils - - - - - - - - -
h) Foreign Venture Capital Funds
i) Others (specify) " - " " " - " " -
Sub-Total (B)(1):- " - " " " - " " -
(2) NonInstitutions
a) Bodies Corp
i. Indian 120981 2050400 2171381 11.46 113577 400 113977 0.60 -10.86
ii. Overseas
b) Individuals
i. Individual shareholder s holding nominal share capital upto Rs. 1 lakh 1368185 21827 1390012 7.34 1361319 21827 1383146 7.30 -0.04
ii. Individual shareholder s holding nominal share capital in excess of Rs 1 lakh 4119416 6761500 10880916 57.43 4229650 8811500 13041150 68.83 11.40
c) Others
Clearing Members 93897 0 93897 0.50 1704 0 1704 0.01 -0.49
NRI / OCB 17394 0 17394 0.09 18594 0 18594 0.10 0.01
HUF 134023 945754 1079777 5.70 129022 945754 1074776 5.67 -0.03
Sub-Total (B)(2):- 5853896 9779481 15633377 82.51 5853866 9779481 15633347 82.51 0.00
Total Public Shareholding (B)= (B)(1)+ (B)(2) 5853896 9779481 15633377 82.51 5853866 9779481 15633347 82.51 0.00
C. Shares Held By Custodian For GDRs & ADRs
Sub-Total (C)> - - - - - - - - -
Grand Total (A+B+C) 9168219 9779481 18947700 100 9168219 9779481 18947700 100 0

ii) Shareholding of Promoter

Sr. No. Shareholder's Name Shareholding at the beginning of the year Share holding at the end of the year
No. of Shares %of total Shares of the company %of Shares Pledged / encumber ed to total shares No. of Shares %of total Shares of the company %of Shares Pledged / encumbere d to total shares % change in share holding during the year
1 Deven K. Doshi 297740 1.57 - 297740 1.57 - -
2 Kirti J. Doshi 2433897 12.85 - 2433927 12.85 - -
3 Miss Sneha K. Doshi 245391 1.30 - 245391 1.30 - -
4 Mrs. Rimzim 337295 1.78 - 337295 1.78 - -
TOTAL 3314323 17.49 3314353 17.49 - -

iii) Change in Promoters' Shareholding (please specify if there is no change)

Sr. No. Name of Promoter

Shareholding at the beginning of the year

Cumulative Shareholding during the year

No. of shares % of total shares of the company No. of shares % of total shares of the company
01 Kirti J. Doshi
At the beginning of the year 2433897 12.85 2433927 12.85
Transfer dated 12/07/2019 Transfer dated 11/10/2019 20 10 2433917 2433927 12.85
At the End of the year 2433927 12.85 2433927 12.85

iv)Shareholding Pattern of top ten Shareholders (other than Directors Promoters andHolders of GDRs and ADRs):

Sr. No

Shareholding at the beginning of the year

Cumulative Shareholding during the year

For Each of the Top 10 Shareholders No. of shares % of total shares of the company No. of shares % of total shares of the company
01 Mayank Shobhagchand Varia
At the beginning of the year 1604825 8.47 1604825 8.47
Date wise Increase / Decrease in Share holding during the year 0 0 0 0
At the End of the year 1604825 8.47 1604825 8.47
02 Ankita Shah
At the beginning of the year 0 0 0 0
Increase in shareholding dated 10/04/2019 1600000 8.44 1600000 8.44
At the End of the year 1600000 8.44 1600000 8.44
03 Raju R Shah
At the beginning of the year 1007960 5.32 1007960 5.32
Date wise Increase / Decrease in Share holding during the year 0 0 0 0
At the End of the year 1007960 5.32 1007960 5.32
04 Raju R Shah H U F
At the beginning of the year 972224 5.13 972224 5.13
Date wise Increase / Decrease in Share holding during the year 0 0 0 0
At the End of the year 972224 5.13 972224 5.13
05 Naman Shah
At the beginning of the year 0 0 0 0
Increase in shareholding dated 10/04/2019 850000 4.49 850000 4.49
At the End of the year 850000 4.49 850000 4.49
06 Mirant Shah
At the beginning of the year 0 0 0 0
Increase in shareholding dated 10/04/2019 850000 4.49 850000 4.49
At the End of the year 850000 4.48 850000 4.48
07 Chetna Shah
At the beginning of the year 0 0 0 0
Increase in shareholding dated 10/04/2019 800000 4.22 800000 4.22
At the End of the year 800000 4.22 800000 4.22
08 Kavita Mayank Varia
At the beginning of the year 752280 3.97 752280 3.97
Increase in shareholding dated 12/04/2019 500 0.00 752780 3.97
Increase in shareholding dated 17/05/2019 1399 0.01 754179 3.98
At the End of the year 754179 3.98 754179 3.98
09 Nirav K Pandya
At the beginning of the year 0 0 0 0
Increase in shareholding dated 10/04/2019 700000 3.69 700000 3.69
At the End of the year 700000 3.69 700000 3.69
10 Nimesh N Mandalia
At the beginning of the year 8566 0.05 8566 0.05
Increase in shareholding dated 10/04/2019 500000 2.64 508566 2.68
At the End of the year 508566 2.68 508566 2.68

v) Shareholding of Directors and Key Managerial Personnel:

Sr. No.

Shareholding at the beginning of the year

For Each of the Directors and KMP No. of shares % of total shares of the company No. of shares shares of the company
01 Kirti Jethalal Doshi
At the beginning of the year 2433897 12.85 2433927 12.85
Transfer dated 12/07/2019 20 2433917
T ransfer dated 11/10/2019 10 2433927 12.85
At the End of the year 2433927 12.85 2433927 12.85
02 Naresh Nanalal Vaghani
At the beginning of the year 0 0 0 0
Date wise Increase / Decrease in Share holding during the year 0 0 0 0
At the End of the year 0 0 0 0
03 Vikesh Vinod Ganatra
At the beginning of the year 0 0 0 0
Date wise Increase / Decrease in Share holding during the year 0 0 0 0
At the End of the year 0 0 0 0
04 Rupa Ramnikbhai Zaveri
At the beginning of the year 0 0 0 0
Date wise Increase / Decrease in Share holding during the year 0 0 0 0
At the End of the year 0 0 0 0
05 Jayesh Hemraj Ganatra (CFO)
At the beginning of the year 0 0 0 0
Date wise Increase / Decrease in Share holding during the year 0 0 0 0
At the End of the year 0 0 0 0
06 Payal Rathi
At the beginning of the year 0 0 0 0
Date wise Increase / Decrease in Share holding during the year 0 0 0 0
At the End of the year 0 0 0 0

V. INDEBTEDNESS (Indebtedness of the Company including interest outstanding / accruedbut not due for payment)

Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount 0.00 62115.00 0.00 62115.00
ii) Interest due but not paid 0.00 0.00 0.00 0.00
iii) Interest accrued but not due 0.00 0.00 0.00 0.00
Total (i + ii + iii) 0.00 62115.00 0.00 62115.00
Change in Indebtedness during the financial year
* Addition 0.00 830424.00 0.00 830424.00
* Reduction 0.00 0.00 0.00 0.00
Net Change 0.00 830424.00 0.00 830424.00
Indebtedness at the end of the financial year
i) Principal Amount 0.00 892539.00 0.00 892539.00
ii) Interest due but not paid 0.00 0.00 0.00 0.00
iii) Interest accrued but not due 0.00 0.00 0.00 0.00
Total (i + ii + iii) 0.00 892539.00 0.00 892539.00

 

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. Remuneration to Managing Director Whole-time Directors and/or Manager:

Sr. No. Particulars of Remuneration Name of MD/WTD/ Manager Total
Kirti Jethalal Doshi (Managing Director) Amount
1. Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act 1961 480000.00 480000.00
(b) Value of perquisites u/s 17(2) Income- tax Act 1961 NIL NIL
(c) Profits in lieu of salary under section 17(3) Income- tax Act 1961 NIL NIL
2. Stock Option NIL NIL
3. Sweat Equity NIL NIL
4. Commission NIL NIL
- as % of profit
- others specify...
5. Others please specify NIL NIL
Total (A) 480000.00 480000.00
Ceiling as per the Act 8400000.00 8400000.00

B. Remuneration to other directors:

Sr. No. Particulars of Remuneration

Name of Directors

Total Amount
3. Independent Directors Vikesh Ganatra Naresh Vaghani Rupa Zaveri
Fee for attending board committee meetings NIL NIL NIL NIL
Commission NIL NIL NIL NIL
Others please specify NIL NIL NIL NIL
Total (1) NIL NIL NIL NIL
4. Other Non-Executive Directors
Fee for attending board committee meetings NIL
Commission NIL NIL
Others please specify-Remuneration NIL NIL
Total (2) NIL NIL
Total (B)=(1+2) NIL NIL
Total Managerial Remuneration NIL NIL
Overall Ceiling as per the Act NIL NIL

 

C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/ MANAGER / WTD

Sr. No. Particulars of Remuneration

Key Managerial Personnel

Total
Jayesh Ganatra (CFO) Payal Rathi (CS)
1. Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act 1961
(b) Value of perquisites u/s 17(2) Income- tax Act 1961 NIL NIL NIL
(c) Profits in lieu of salary under section 17(3) Income-tax Act 1961 NIL NIL NIL
2. Stock Option NIL NIL NIL
3. Sweat Equity NIL NIL NIL
4. Commission NIL NIL NIL
- as % of profit NIL NIL NIL
- Others specify... NIL NIL NIL
5. Others please specify NIL NIL NIL
Total

 

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Type Section of the Companies Act Brief Description Details of Penalty / Punishment/ Compounding fees imposed Authority [RD / NCLT/ COURT] Appeal made if any (give Details)
A. COMPANY
Penalty NIL NIL NIL NIL NIL
Punishment NIL NIL NIL NIL NIL
Compounding NIL NIL NIL NIL NIL
B. DIRECTORS
Penalty NIL NIL NIL NIL NIL
Punishment NIL NIL NIL NIL NIL
Compounding NIL NIL NIL NIL NIL
C. OTHER OFFICERS IN DEFAULT
Penalty NIL NIL NIL NIL NIL
Punishment NIL NIL NIL NIL NIL
Compounding NIL NIL NIL NIL NIL

By Order of the Board of Directors

For Amit International Limited

Kirti Doshi

(DIN: 01964171)

Chairman and Managing Director

Place: Mumbai

Date: 18/07/2020

"Annexure B"

DISCLOSURE OF POLICY FOR REMUNERATION OF DIRECTORS

KEY MANAGERIAL PERSONNEL AND OTHER EMPLOYEES

(Pursuant to subsection 3 and 4 of section 178 of The Companies Act 2013)

Remuneration Policy:

1. Remuneration to managerial personnel will be recommended to the board by thecommittee and same shall be subject to approval of shareholders and/or central governmentwhere ever required.

2. Remuneration to managerial personnel shall be in accordance with the provisions ofthe Companies Act 2013 and other applicable acts.

3. Increment to existing remuneration shall be as per recommendation of committee andwithin the limits approved by shareholders.

Remuneration to managerial personnel:

1. The managerial personnel shall be entitled to monthly remuneration as approved bythe board on recommendation of the committee and same shall be in accordance with theprovision of the Companies act 2013 and rules made there under The breakup of pay scaleand quantum of perquisites and non-monetary benefits shall also be approved by board onrecommendation of the committee.

2. The managerial Personnel shall also be eligible to performance linked incentives asmay be determined by board.

3. The managerial personnel may also be paid commission as may be approved byshareholders.

4. The managerial personnel shall be entitled to minimum remuneration in accordancewith Schedule V of the Companies Act 2013 in event of no profit or inadequacy of profit.

Remuneration to Non-executive / Independent directors:

1. The remuneration shall be in accordance with the Companies Act 2013 and rules madethere under.

2. The non-executive/independent directors may receive sitting fees for attending themeeting of board of directors or an committee which shall be within the prescribed limitunder the act. Non - executive directors shall be reimbursed travelling and incidentalexpense for attending the meeting.

3. Non- executive directors may also be paid commission subject to approval by theshareholders and within the limit not exceeding 1% of the profit of the company.

4. Non-executive directors shall not be entitled stock options.

By Order of the Board of Directors

For Amit International Limited

Sd/-

Kirti Dosh

i (DIN: 01964171)

Chairman and Managing Director

Place: Mumbai

Date: 18.07.2020

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