The Directors are pleased to present the Company's 17th Annual Report together withAudited Accounts for the financial year ended 31st March 2019.
| || ||(र in Lacs) |
|Particulars ||Current Year 31st March 2019 ||Previous year 31st March 2018 |
|Revenue from Operation (net) ||40913.41 ||18779.89 |
|Other Income ||5.79 ||16.71 |
|Total Revenue ||40919.20 ||18796.60 |
|Profit before Finance Cost Depreciation and Tax ||(4470.10) ||(7836.61) |
|Less: Depreciation & Amortization ||4490.80 ||4121.49 |
|Less: Finance Cost ||265.60 ||6171.76 |
|Less: Tax Expenses ||- ||- |
|Net Profit after Tax ||(9226. 50) ||(18129.86) |
|Add: Other Comprehensive Income ||(6.99) ||1.36 |
|Total Comprehensive Income ||(9233.49) ||(18128.50) |
Figures of the previous year have been re-grouped/revised wherever necessary.
FINANCIAL AND OPERATIONAL REVIEW
During the year under review the Company has achieved Revenue from Operation of र40913.41 Lacs as against र 18779.89 Lacs in the previous year registering a growth of117.86%. The Company has incurred a Net Loss of र 9233.49 Lacs as against र 18128.50Lacs in the previous year. The losses are mainly attributed due to Company facingliquidity crunches increase in input cost low capacity utilisation of plant etc.
The Company has not transferred any amount to the General Reserve due to the lossesincurred during the financial year ended 31st March 2019.
In view of the losses incurred by the Company the Directors of the Company do notrecommend any dividend for the financial year ended 31st March 2019.
During the year under review the Board of Directors met eleven (11) times the detailsof which are given in the Corporate Governance Report that forms part of this AnnualReport. The intervening gap between the meetings was within the period prescribed underthe Companies Act 2013 and the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015.
CHANGES IN SHARE CAPITAL AND MEMORANDUM OF ASSOCIATION
There was no change in the Share Capital and Memorandum and Articles of Association ofthe Company during the year.
Retirement by Rotation
In accordance with the provisions of the Companies Act 2013 Mr. Ankit Patni (DIN:00034907) retires by rotation and being eligible offers himself for re-appointment.
Pursuant to the provisions of Section 149 152 161 of the Companies Act 2013 alongwith the rules made thereunder read with Regulation 25 of SEBI (Listing Obligations &Disclosure Requirements) Regulations 2015 Mr. Ayan Choudhari (DIN: 07107054) has beenappointed as an Additional Executive Director with effect form 20th April 2018. Howeverhe resigned from the directorship of the Company with effect form 30th May 2018.
Mr. Ankit Patni (DIN: 00034907) was elevated from Non-Executive Promoter Director toManaging Director of the Company in the Board meeting held on 30th May 2018.Subsequently the members of the Company in the last Annual General Meeting held on 27thSeptember 2018 have approved the elevation of Mr. Ankit Patni from Non-Executive PromoterDirector to Managing Director of the Company.
Mr. Aritro Roy (DIN: 08257216) has been appointed as an Additional Independent Director(Non-Executive) by the Board of Directors of the Company with effect from 30th August2018 up to the date of ensuing Annual General Meeting. Subsequently he resigned from thedirectorship of the Company with effect form 14th August 2019 due to some personal reasonand preoccupation with other commentments.
Mrs. Sujata Agarwal (DIN: 06833458) Independent Director of the Company whose tenure asan Independent Directors expires on 22nd March 2019 on recommendation by the Nominationand Remuneration Committee and on the basis of performance evalution the Board ofDirectors in their meeting held on 14th August 2019 had re-appointed her for a furtherperiod of five (5) years with effect form 23rd March 2020. The Company has received anotice in writing under Section 160 of the Companies Act 2013 from the member proposingher re-appointment for the office of Independent Director (Non-Executive).
Mr. Sharat Malik (DIN: 08529458) and Mr. Debasish Mukherjee (DIN: 08529465) wereappointed as Additional Independent Directors (Non-Executive) by the Board of Directors ofthe Company with effect from 14th August 2019 up to the date of ensuing Annual GeneralMeeting. The Board had also appointed then as Independent Director for a period of fiveyears with effect form 14th August 2019 subject to approval of shareholder in the ensuingAGM. The Company has received notices in writing under Section 160 of the Companies Act2013 from the members proposing their candidature for the office of Independent Director(Non-Executive).
Mr. Sanjay Singh (DIN: 00531906) Executive Director of the Company has resigned fromthe directorship of the Company with effect form 13th April 2018 due to personal andunavoidable circumstances.
Mr. Ravindra Kumar Mehra (DIN: 07898952) Independent Director of the Company ceased tobe the Director of the Company due to sudden demise with effect form 11th August 2018.
Mr. Jatindra Nath Rudra (DIN: 00059628) Independent Director of the Company ceased tobe the Director of the Company due to personal reasons and pre-occupation with othercommentments with effect form 14th August 2019.
KEY MANAGERIAL PERSONNELS (KMPs)
During the year under review Mr. Sanjay Singh (DIN: 00531906) Executive Director ofthe Company has resigned from the directorship of the Company with effect form 13th April2018 and Mr. Ankit Patni (DIN: 00034907) has been elevated as Managing Director of theCompany.
Ms. Jaya Pathak (ACS-46434) ceased to be Company Secretary with effect form 27th March2019. Consequent upon her resignation from the Company Mrs. Vineeta Barmecha (ACS-23936)has been appointed as Company Secretary with effect form 3rd April 2019.
Pursuant to the provisions of Section 203 of the Companies Act2013 the KMP's of theCompany as on date are:
1. Mr. Ankit Patni Managing Director
2. Mr. Saurabh Jhunjhunwala Chief Financial Officer
3. Mrs. Vineeta Barmecha Company Secretary
DIRECTORS' RESPONSIBILITY STATEMENT
Based on the framework of Internal Financial Controls maintained by the Company workperformed by the Internal Statutory Cost and Secretarial Auditors and external agenciesthe reviews performed by management and the relevant Board Committees the Board with theconcurrence of the Audit Committee is of the opinion that the Company's InternalFinancial Controls were adequate and effective as on 31st March 2019.
Accordingly pursuant to the provisions of Section 134(5) of the Companies Act 2013the Board of Directors to the best of their knowledge and ability confirm:
i. that in the preparation of the annual accounts the applicable Accounting Standardshave been followed along with proper explanation relating to material departures;
ii. that we had in consultation with the Statutory Auditors selected such accountingpolicies and applied them consistently and made judgments and estimates that arereasonable and prudent so as to give a true and fair view of the state of affairs of theCompany at the end of the financial year 31st March 2019 and of the profit and loss ofthe Company for that period;
iii. that proper and sufficient care has been taken 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. that the annual accounts have been prepared on a "going concern" basis;
v. that proper internal financial controls were laid down and that such internalfinancial controls are adequate and were operating effectively and
vi. that proper systems to ensure compliance with the provisions of all applicable lawswere in place and that such systems were adequate and operating effectively.
During the year under review Credit Rating has not been done. The Company's creditrating done for the year 2015-16 for Long- Term and Short-Term debts/facilities was Dgiven by ICRA Limited.
DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES
The Company does not hold any Subsidiary/Joint Venture/Associate Companies during theyear under review.
EXTRACT OF ANNUAL RETURN
The details of the extract of the Annual Return in the Form MGT-9 as on 31st March2019 is annexed herewith and forms part of this Report as Annexure - I.
WEB ADDRESS OF ANNUAL RETURN
Pursuant to the provisions of the Companies Act 2013 read with applicable rules madethereunder the extract of Annual Return of the Company has been disclosed on the websiteof the Company at http://www.ankitmetal.com/annual-report.html.
The Company has not accepted any deposits within the meaning of Section 73 of theCompanies Act 2013 and the Companies (Acceptance of Deposits) Rules 2014.
The properties and insurable assets and interests of the Company like building plantand machinery and stocks among others are adequately insured.
BUSINESS RESPONSIBILITY REPORT (BRR)
The Business Responsibilty Report as per regulation 34(2) of SEBI Listing Regulatuionsis not appliocable to the Company as the Company does not fall under top 500 listedcompanies on the basis of market capitalisation.
DIVIDEND DISTRIBUTION POLICY
Pursuant to regulation 43A of the SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 top 500 listed companies based on market capitalisationare required to formulate a Dividend Distribution Policy. Accordingly your Company is notrequired to formulate the Dividend Distribution Policy.
AUDIT AND AUDITORS
In terms of the provisions of Section 139 of the Companies Act 2013 read withCompanies (Audit and Auditors) Rules 2014 M/s. J.B.S.&Company Chartered Accountants(FRN: 323734E) the Auditors of the Company shall hold office from the conclusion of the15th Annual General Meeting till the conclusion of the 20th Annual General Meeting of theCompany at a remuneration fixed by the Board of Directors of the Company in consultationwith the Auditors.
STATUTORY AUDITOR'S OBSERVATION
Auditors have drawn attention to note no. 28 of the accompanying financial statementsregarding non provision of interest expense on the borrowings of the Company amounting toर 12297.85 Lacs for the year ended 31st March 2019 (cumulative non provision of र39937.90 Lacs and penal interest and charges thereof (amount remaining unascertained)which is not in accordance with the requirements of Ind AS 23: Borrowing Costs read withInd AS 109: Financial Instruments. During the period the company has also reversedinterest amounting to र 2229.95 Lacs relating to earlier period.
Had the aforesaid interest expense been recognized the finance cost for the year ended31st March 2019 would have been र 14793.40 Lacs instead of reported amount of र 265.60Lacs. The total expenses for the year ended 31st March 2019 would have been र 64673.50Lacs instead of र 50145.70 Lacs. The Net Loss after tax for the year ended 31st March2019 would have been र 23754.30 Lacs instead of reported amount of र 9226.50 Lacs. TotalComprehensive Loss for the year ended 31st March 2019 would have been र 23761.29 Lacsinstead of reported amount of र 9233.49 Lacs. Other equity as on 31st March 2019 wouldhave been (र 112341.08) Lacs instead of reported amount of (र 72403.18) Lacs and OtherCurrent Financial Liability as on 31st March 2019 would have been र 85451.95 Lacsinstead of reported amount of र 45514.05 Lacs.
Our comments are as under:
The lenders have stopped charging interest on debts since the dues from the Companyhave been categorized as Non Performing Asset. The Company is in activediscussion/negotiation with it lenders to restructure its debt at a sustainable level. Inview of the above pending finalization of the restructuring plan the company has notprovided accrued interest in its books during the year and reversed interest provided inearlier period pertaining to the period the account was declared NPA by the respectivelenders. The Company has reversed interest amounting to र 2229.95 Lacs for the year ended31st March 2019 relating to interest provided for earlier periods. The amount of interestnot so provided stands at र 12297.85 Lacs for the year ended 31st March 2019 and penalinterest and charges thereof (amount remaining uncertain). The unprovided liability inrespect of interest on long term and short term borrowings as on 31st March 2019 amountedto र 37707.95 Lacs. The same have consequential impact on the reported figures.
In terms of section 148 of the Companies Act 2013 read with Rule 14 of the Companies(Audit and Auditors) Rules 2014 on the recommendation of the Audit Committee the Boardof Directors has re-appointed Mr. Sambhu Banerjee Cost Accountant (Membership No. 9780)as Cost Auditor of the Company at a remuneration of र 35000 plus applicable taxes andre-imbursement of out of pocket expenses incurred by them to conduct an audit of the costaccounting records maintained by the Company for the current financial year beginning from1st April 2019 and ending on 31st March 2020.
As required under section 148 of the Companies Act 2013 read with rule 14 of theCompanies (Audit and Auditors) Rules 2014 the remuneration payable to Cost Auditor isbeing placed at the ensuing Annual General Meeting for ratification by the members.
The Company has duly prepared and maintained the cost records of the businessactivities carried out by the Company during the financial year 2018-19 as requiredpursuant to the provisions of section 148(1) of the Companies Act 2013 read withCompanies (Cost Records and Audit) Rules 2014.
In terms of section 204 of the Companies Act 2013 and rules made there under M/s. K.C. Dhanuka & Co. (Prop. Mr. K.C. Dhanuka FCS- 2204) Practicing Company Secretary hasbeen appointed as Secretarial Auditor of the Company for the financial year 2018-19. Thereport of the Secretarial Auditor in Form MR-3 is enclosed as Annexure - II to thisreport.
SECRETARIAL COMPLIANCE REPORT
Pursuant to SEBI Circular no. CIR/CFD/CMD1/27/2019 dated 8th February 2019 andregulation 24(A) of the SEBI Listing Regulations Secretarial Compliance Report for thefinancial year ended 31st March 2019 issued by M/s. K. C. Dhanuka & Co. (Prop. Mr.K.C. Dhanuka FCS - 2204) Practicing Company Secretary is annexed herewith and marked asAnnexure - III to this report. The Secretarial Compliance Report does not contain anyqualifications reservation or adverse remarks.
SECRETARIAL AUDITOR'S OBSERVATION
The Secretarial Auditor has the following observation in Form MR-3 enclosed as AnnexureII:
i. It has been observed that the Company has defaulted in the payment of statutory dueswithin the prescribed time. Our Comment is as under:
i. Payment of statutory dues has been delayed due to poor liquidity position.
In terms of section 138 of the Companies Act 2013 read with rule 13 of the Companies(Accounts) Rules 2014 on the recommendation of Audit Committee the Board of Directorshas re-appointed M/s. N. R. & Associates Cost Accountants (FRN: 102903) as InternalAuditor of the Company for the financial year 2019-20 at a remuneration fixed by the Boardof Directors of the Company in consultation with the Auditors.
INTERNAL FINANCIAL CONTROL SYSTEM
The Companies Act 2013 has mandated the Company to have a formal framework of InternalFinancial Controls (IFC) and has also laid down specific responsibilities on the BoardAudit Committee Independent Directors and Statutory Auditor with regard to IFC.
The financial control system and framework is required to ensure:
The orderly and efficient conduct of its business
Safeguarding of its assets
The prevention and detection of frauds and errors
The accuracy and completeness of the accounting records and
The timely preparation of reliable financial information.
The Board reviews the effectiveness of controls documented as part of InternalFinancial Control (IFC) framework and take necessary corrective actions where weaknessesare identified as a result of such reviews. This review covers entity level controlsfraud risk controls and information technology environment.
The policies and procedures adopted by the Company ensures the orderly and efficientconduct of its business and adherence to the Company's policies prevention and detectionof frauds and errors accuracy and completeness of the records and the timely preparationof reliable financial information.
Based on this evaluation no significant events had come to notice during the year thathave materially affected or are reasonably likely to materially affect our IFC. Themanagement has also come to the conclusion that the IFC and other financial reporting waseffective during the year and is adequate considering the business operations of theCompany.
The Statutory Auditor of the Company has audited the Internal Financial Control overFinancial Reporting and their Audit Report is annexed as Annexure-B to the IndependentAuditor's Report under Financial Statements.
DISCLOSURES ON REMUNERATION OF DIRECTORS KEY MANAGERIAL PERSONNEL AND EMPLOYEES OF THECOMPANY
Disclosure pertaining to remuneration and other details as required under section134(3)(q) 197(12) of the Companies Act 2013 read with rule 5(1) of the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 and subsequentamendments thereto is annexed to this Directors' Report as Annexure - IV.
ENERGY CONSERVATION TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO
A statement giving details of Conservation of Energy Technology Absorption and ForeignExchange Earning and Outgo as required under section 134(3)(m) of the Companies Act 2013read with rule 8 of the Companies (Accounts) Rules 2014 is annexed to this report asAnnexure - V.
DECLARATION ON COMPLIANCE WITH CODE OF CONDUCT
The Board has formulated a Code of Conduct for the Board members and Senior Managementof the Company which has been posted on the website of the Company.
It is hereby affirmed that all the Directors and Senior Management Personnel havecomplied with the Code and a confirmation to that effect has been obtained from thedirectors and the senior management.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS/ COURTS / TRIBUNALS
The name of the Company has appeared in the list of 331 Shell Companies as declared bySEBI vide its letter No. SEBI/HO/ISD/ OW/P/2017/18183 dated 7th August 2017. The Companyhas responded to the various queries raised by the National Stock Exchange of IndiaLimited and BSE Limited in this connection vide SEBI letter No.SEBI/HO/ISD/OW/P/2017/18926 dated 9th August 2017. The National Stock Exchange of IndiaLimited vide their order dated 31st January 2018 has disposed off the case.
MATERIAL CHANGES AFFECTING THE COMPANY
The name of the Company has appeared in the list of 331 Shell Companies asdeclared by SEBI vide its letter No. SEBI/HO/ ISD/OW/P/2017/18183 dated 7thAugust 2017due to which the Company was put under GSM Stage VI .The Company has responded to thevarious queries raised by the National Stock Exchange of India Limited and BSE Limited inthis connection.
The National Stock Exchange of India Limited vide their order dated 31st January 2018has disposed off the case and through its circular dated 15th June 2018 the Company wasupdated to GSM Stage I.
Various credit facilities availed from UBI IOB SBI IDBI and Allahabad Bankhave been assigned by the respective banks in favour of Asset Reconstruction Companiesunder various assignment agreements between the respective banks and Asset ReconstructionCompanies. The credit facilities availed from Andhra Bank has been assigned to AlchemistAssets Reconstruction Company and the Company has entered into a settlement agreement withthem.
PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS
The Company has not given any loans or guarantees covered under the provisions ofsection 186 of the Companies Act 2013.
The details of the investments made by Company are given in the notes to the financialstatements.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
All contracts/arrangements/transactions entered by the Company during the financialyear with related parties were in the ordinary course of business and on arm's lengthbasis. During the year the Company had not entered into any contract/arrangement/transaction with related parties which could be considered material inaccordance with the policy of the Company on materiality of related party transactionsbetween the Company and the Directors the management or the relatives except for thosedisclosed in the financial statements. The Company has seeked omnibus approval for relatedparty transactions as per Regulation 23 (3) of SEBI (Listing Obligations & DisclosureRequirements) Regulations2015 for the financial Year 2018-19.
Accordingly particulars of contracts or arrangements entered into by the Company withrelated parties referred to in section 188(1) of the Companies Act 2013 in Form AOC-2i.e. Annexure - VI is Nil.
POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION
The Board has on the recommendation of the Nomination and Remuneration Committeeframed a policy for selection and appointment of Directors Key Managerial Personnel andtheir remuneration.A note on Nomination and Remuneration Policy has been made part of theCorporate Governance Report.
RISK MANAGEMENT POLICY
The Company has a defined Risk Management framework to identify assess monitor andmitigate various risks to key business objectives. Major risks identified by thebusinesses and functions are systematically addressed through mitigating actions on acontinuing basis.
The Risk Management Policy provides for identification of risk its assessment andprocedures to minimize risk. The policy is periodically reviewed to ensure that theexecutive management controls the risk as per decided policy.
DISCLOSURE UNDER SEXUAL HARASSMENT OF EMPLOYEE AT WORKPLACE
The Company has a policy on Sexual Harassment in line with the requirements of theSexual Harassment of any employee at workplace. The Audit Committee will redresscomplaints received regarding sexual harassment. All employees (permanent contractualtemporary trainees) are covered under this policy.
The details related to complaints pertaining to sexual harassment during the financialyear 2018-19 is separately covered under the Corporate Governance Report which forms partof this Annual Report.
STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTORS UNDER SECTION 149(6)
The Company has received declarations from all the Independent Directors of the Companyconfirming that they meet the criteria of Independence as laid down under section 149(6)of the Companies Act 2013 and SEBI (Listing Obligations and Disclosure Requirement)Regulations 2015 with the Stock Exchanges.
FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS
The Company proactively keeps its Directors informed of the activities of the Companyits management and operations and provides an overall industry perspective as well asissues being faced by the industry. The Familiarisation Programme Policy and details offamiliarisation programmes for Independent Directors is available on the Company's websitewww.ankitmetal.com
The composition and terms of reference of the Audit Committee has been furnished in theCorporate Governance Report which forms part of this Annual Report. There has been noinstance where the Board has not accepted the recommendations of the Audit Committee.
NOMINATION AND REMUNERATION COMMITTEE
The composition and terms of reference of the Nomination and Remuneration Committee hasbeen furnished in the Corporate Governance Report which forms part of this Annual Report.
STAKEHOLDERS' RELATIONSHIP COMMITTEE
The composition and terms of reference of Stakeholders' Relationship Committee has beenfurnished in the Corporate Governance Report which forms part of this Annual Report.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
In line with the provisions of the Companies Act 2013 the Company has framed itsCorporate Social Responsibility (CSR) policy for the development of programmes andprojects for the benefit of weaker sections of the society and the same has been approvedby the CSR Committee and the Board of Directors of the Company. The Company has not spentany amount in CSR activities since the Company has incurred losses during the previousthree (3) years eroding the entire net worth of the Company.
In terms of section 177 of the Companies Act 2013 rules framed thereunder andregulation 22 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 the Company has a vigil mechanism in place for the Directors and employees of theCompany through which genuine concerns regarding various issues relating to inappropriatefunctioning of the organisation can be communicated. For this purpose the Board has aVigil Mechanism and the same has been uploaded on the website of the Company i.e.www.ankitmetal.com and available at the linkhttp://www.ankitmetal.com/vigil-mechanism.pdf. The policy has been constituted under theguidance of the Chairman of the Audit Committee. During the year under review there hasbeen no incidence reported which required action by the Audit Committee.
The Board has carried out an annual evaluation of its own performance the directorsindividually as well as the evaluation of the functioning of various Committees. TheIndependent Directors also carried out the evaluation of the Chairman and the NonIndependent Directors the details of which are covered in the Corporate GovernanceReport.
The Company is committed to maintain the highest standards of Corporate Governance andadhere to the Corporate Governance requirements set out in regulation 34(3) read withschedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations2015. The Corporate Governance Report as stipulated under the above regulation forms anintegral part of this Annual Report.
MANAGEMENT DISCUSSION AND ANALYSIS (MDA)
Management's Discussion and Analysis for the year under review as stipulated underregulation 34(3) read with schedule V of the SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 is presented in a separate section forming part of thisAnnual Report.
As required by regulation 34(3) read with schedule V of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations 2015 the CEO/CFO certification has beensubmitted to the Board and forms an integral part of this Annual Report.
AWARDS & ACHIEVEMENTS
During the year under review the Company has not received any awards.
GREEN INITIATIVES IN CORPORATE GOVERNANCE
Ministry of Corporate Affairs has permitted companies to send electronic copies ofAnnual Report notices etc. to the e-mail ids of shareholders. The Company hasaccordingly arranged to send the soft copies of these documents to the e-mail ids ofshareholders wherever applicable. In case any shareholder would like to receive physicalcopies of these documents the same shall be forwarded upon receipt of written request.
The Directors wish to extend their thanks and appreciation for the valuable andcontinued support received from the shareholders Company's bankers Central and StateGovernment authorities Stock Exchange(s) Depository Participant(s) and all otherbusiness associates for the growth of the organisation.
The Directors also wish to place on record their deep appreciation to all the employeesfor their commitment and continued contribution to the Company.
ANNEXURES FORMING PART OF THE DIRECTORS' REPORT
The annexures referred to in this report and other information which are required to bedisclosed are annexed herewith and forms part of this Directors' Report:
|Annexure ||Parculars |
|I ||Extract of the Annual Return (Form MGT-9) |
|II ||Secretarial Audit Report (Form MR-3) |
|II ||Secretarial Compaliance Report |
|IV ||Parculars of Employees |
|V ||Prescribed parculars of Conservaon of Energy Technology Absorpon and Foreign Exchange Earnings and Outgo |
|VI ||Parculars of Contract or Arrangements with Related Pares (Form AOC-2) |
| ||For and on behalf of the Board |
| ||Ankit Metal & Power Limited |
|Place: Kolkata ||Suresh Kumar Patni |
|Dated: 14th August 2019 ||Chairman |