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Anukaran Commercial Enterprises Ltd.

BSE: 512355 Sector: Others
NSE: N.A. ISIN Code: INE090G01028
BSE 05:30 | 01 Jan Anukaran Commercial Enterprises Ltd
NSE 05:30 | 01 Jan Anukaran Commercial Enterprises Ltd

Anukaran Commercial Enterprises Ltd. (ANUKARANCOMMERC) - Director Report

Company director report

To

The Members

Your Directors have pleasure in submitting their Annual Report of the Company togetherwith the Audited Statements of Accounts for the year ended 31st March 2018.

1. FINANCIAL RESULTS

The Company's financial performance for the year under review along with previousyear's figures are given hereunder:

(INR in Lakhs)

PARTICULARS 2017-2018 2016-2017
Net Sales /Income from Business Operations -
Other Income 4169158 4924283
Total Income 4169158 4924283
Less Interest -
Profit before Depreciation (1673245) (1612563)
Less Depreciation - -
Profit after depreciation and Interest - (1612563)
Less Current Income Tax 420000 -
Less Previous year adjustment of Income Tax(short provision) - -
Less Deferred Tax - -
Net Profit after Tax (2093245) (1612563)
Dividend (including Interim if any and final) - -
Net Profit after dividend and Tax (2093245) (1612563)
Amount transferred to General Reserve (2093245) (1612563)
Balance carried to Balance Sheet -
Earnings per share:
Earnings per share (Basic) (0.01) (0.01)
Earnings per Share (Diluted) (0.01) (0.01)

2 . DIVIDEND

No Dividend was declared for the current financial year.

3. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND

The provisions of Section 125(2) of the Companies Act 2013 do not apply as there wasno dividend declared and paid last year.

4 . RESERVES

No amount has been carried by the Board to any Reserves.

5. BRIEF DESCRIPTION OF THE COMPANY'S WORKING DURING THE YEAR/STATE OF COMPANY'S

AFFAIR.

Directors wish to present the details of Business operations done during the year underreview:

The Audited Financial Results are given for the financial year ended on 31st March2018. The report contains review of the operations of the Company. During the year theCompany had a income of Rs.4124283 (Previous Year Rs. 4924283) after deduction of allexpenses including depreciation Rs 0 (Previous Year Rs 0) and the Company has incurred aloss of Rs. (2093245) (Previous Year Rs. (1612563).

Barring unforeseen circumstances Directors are confident of achieving better resultsin the ensuing year.

6. CHANGE IN THE NATURE OF BUSINESS

There is no change in nature of Business.

7. DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCETO THE FINANCIAL STATEMENTS.

The Company has taken adequate measures regarding internal control with reference tofinancial statement.

8. DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES

The Company do not have any Subsidiary/Joint Ventures/Associate Companies.

9. PERFORMANCE AND FINANCIAL POSITION OF EACH OF THE SUBSIDIARIES ASSOCIATES AND JOINTVENTURE COMPANIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT

The Company do not have any Subsidiary/Joint Ventures/Associate Companies.

10. DEPOSITS

The Company has neither accepted nor renewed any deposits during the year under review.

11. STATUTORY AUDITORS

To ratify the appointment of M/s N.P.V Associates Chartered Accountants [FirmRegistration No. 129408W].

"RESOLVED THAT pursuant to Section 139 Section 142 and other applicableprovisions if any of the Companies Act 2013 and the rules made thereunder includingany statutory modification(s) or re-enactment(s) thereof for the time being in force theappointment of M/s. N.P.V Associates Chartered Accountants [Firm Registration No.129408W] as Statutory Auditors of the Company to hold office for a period 5 years from theconclusion of the Annual General Meeting of the Company held in 2015 till the conclusionof the Annual General Meeting to be held in 2020 on a remuneration as may be agreed uponby the Board of Directors and the Auditors be and is hereby ratified."

12. EXTRACT OF ANNUAL RETURN

Pursuant to Sections 92(3) and 134(3) (a) of the Act read with Rule 12(1) of theCompanies (Management and Administration) Rules 2014 the extract of Annual Return inprescribed Form No. MGT-9 is given as Annexure- I to this Report. The company website iswww.anukaranlimited.com . Annual Report is uploaded in website.

13. SHARE CAPITAL

A) Issue of equity shares with differential rights

The Company has not issued any Equity Shares during the year under review.

B) Issue of sweat equity shares

The Company has not issued any Sweat Equity Shares during the year under review.

C) Issue of employee stock options

The Company has not provided any Stock Option Scheme to the employees.

D) Provision of money by company for purchase of its own shares by employees orby trustees for the benefit of employees

The Company has not bought back any of its securities during the year under review.

14. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGSAND OUTGO

The Directors have nothing to report pursuant the provisions of Section 134(m) of theCompanies Act 2013.

15. CORPORATE SOCIAL RESPONSIBILITY (CSR)

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

16. DIRECTORS:

A) Changes in Directors and Key Managerial Personnel

There is no change.

B) Declaration by an Independent Director and Re- Appointment if any

The Independent Directors have submitted their disclosures to the Board that theyfulfill all the requirements as stipulated in Section 149(6) of the Companies Act 2013 soas to qualify themselves to be appointed as Independent Directors under the provisions ofthe Companies Act 2013 and the relevant rules.

17. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS

The Company had 5 Board meetings during the financial year under review.

18. AUDIT COMMITTEE

The composition of Audit Committee and attendance of members in the meeting.

Name of the Member No. of meeting held No. of meetings attended
Mr.Hemen Shah 5 5
Mr.Kushal Shah 5 5
Mr. Dumpy Gangar 5 5

19. DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM FOR DIRECTORS AND EMPLOYEES

Anukaran Commercial Enterprises Limited believes in the conduct of the affairs of itsconstituents in a fair and transparent manner by adopting highest standards ofprofessionalism honesty integrity and ethical behavior to ensure that a robust vigilmechanism is in place. Towards this end the Company has formulated a code of conduct foremployees through various policies. The Company has also formulated a separate code ofconduct for directors and senior management personnel.

The Whistle Blower Policy providing a mechanism to employee of the Company to reportviolation of personnel policies of the Company unethical behavior suspected or actualfraud violation of code of conduct was already in place.

Pursuant to Section 177(9) of Companies Act 2013 every listed Company shall establisha vigil mechanism for directors employees to report genuine concern or grievances.

The Company's Whistle Blower Policy has been reviewed and amended in the light of therequirement of the Companies

Act 2013 and to ensure highest standards of professionalism honesty integrity andethical behavior through robust vigil mechanism.

20. NOMINATION AND REMUNERATION COMMITTEE

The composition of Nomination and Remuneration Committee and attendance of members inthe meeting.

Name of the Member No. of meeting held No. of meetings attended
Mr.Hemen Shah 5 5
Mr.Kushal Shah 5 5
Mr. Dumpy Gangar 5 5
Mrs. Hansa Shah 5 5

21. PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS UNDER SECTION 186:

The particulars of Loans guarantees or investments has been disclosed in the financialstatements.

22. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

No Loans guarantees or investments has been disclosed in the financial statements withrelated parties.

23. SECRETARIAL AUDIT REPORT

A Secretarial Audit Report given by Namrata Vyas a company secretary in practice shallbe in annexure - II with the report.

24. CORPORATE GOVERNANCE CERTIFICATE

The Compliance certificate from the auditors regarding compliance of conditions ofcorporate governance as required under Listing Regulations forms the part of AnnualReport.

25. RISK MANAGEMENT POLICY

The Company does not have any Risk Management Policy as the elements of riskthreatening the Company's existence are very minimal.

26. DIRECTORS' RESPONSIBILITY STATEMENT

The Directors' Responsibility Statement referred to in clause (c) of sub-section(3) of Section 134 of the Companies Act 2013 shall state that

(a) in the preparation of the annual accounts the applicable accountingstandards had been followed along with proper explanation relating to material departures;

(b) 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 and of the profit and loss of the company for that period;

(c) the directors had taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of this Act for safeguardingthe assets of the company and for preventing and detecting fraud and other irregularities;

(d) the directors had prepared the annual accounts on a going concern basis; and

(e) the directors has laid down internal financial controls to be followed bythe company and that such internal financial controls are adequate and were operatingeffectively. (f) the directors had devised proper systems to ensure compliance withthe provisions of all applicable laws and that such systems were adequate and operatingeffectively.

27. ACKNOWLEDGEMENTS

Your Directors place on record their sincere thanks to bankers business associatesconsultants and various Government Authorities for their continued support extended toyour Companies activities during the year under review. Your Directors also acknowledgesgratefully the shareholders for their support and confidence reposed on your Company

By order of the Board of Directors
For Anukaran Commercial Enterprises Limited
Kushal Shah Dumpy Gangar
Place: Mumbai Managing Director Director
Dated:13.08.2018 DIN: 00434124 DIN: 06518905