You are here » Home » Companies » Company Overview » Aryavan Enterprise Ltd

Aryavan Enterprise Ltd.

BSE: 539455 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE360S01012
BSE 00:00 | 10 Jun 17.15 0
(0.00%)
OPEN

17.15

HIGH

17.15

LOW

17.15

NSE 05:30 | 01 Jan Aryavan Enterprise Ltd
OPEN 17.15
PREVIOUS CLOSE 17.15
VOLUME 1
52-Week high 17.15
52-Week low 8.08
P/E
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 17.15
CLOSE 17.15
VOLUME 1
52-Week high 17.15
52-Week low 8.08
P/E
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Aryavan Enterprise Ltd. (ARYAVANENTER) - Director Report

Company director report

To

The Members

Your Directors are pleased to present the 28th Annual Report on the Businessand Operations of the Company along with the Audited Statement of Accounts for theFinancial Year ended on 31st March 2020.

1. FINANCIAL RESULT

The financial performance of the Company for the Financial Year ended on 31stMarch 2020 and for the previous Financial Year ended on 31st March 2019 isgiven below: (Rs. in Lakhs)

Particulars 2019-2020 2018-2019
Revenue from Operations 30.31 76.46
Other Income 13.28 21.61
Total Revenue 43.59 98.07
Total Expenses 42.52 74.26
Profit Before Exceptional and Extra Ordinary Items and Tax 1.07 23.81
Exceptional Items 0 0
Profit Before Extra-Ordinary Items and Tax/ Profit Before Tax 1.07 23.81
Tax Expense:
Current Tax 0.28 5.95
Deferred Tax 0 0
Total Tax expense 0.28 5.95
Profit for the Period 0.79 17.86
Earnings Per Share (EPS)
Basic 0.01 0.20
Diluted 0.01 0.20

2. OPERATIONS

On standalone basis total revenue from operations for Financial Year 2019-20 is Rs.43.59 Lakhs compared to the total revenue from operations of Rs. 98.07 Lakhs of previousFinancial Year. The Company has incurred Profit before tax for the Financial Year 2019-20of Rs. 1.07 Lakhs as compared to before tax of Rs. 23.81 Lakhs of previous Financial Year.Net Profit after Tax for the Financial Year 2019-20 of Rs. 0.79 Lakhs as against Netprofit after tax of Rs. 17.86 Lakhs of previous Financial Year.

3. CHANGE IN NATURE OF BUSINESS IF ANY

There is no change in nature of Business during the year under review.

4. ANNUAL RETURN

The extract of the Annual Return pursuant to the provisions of Section 92 of theCompanies Act 2013 read with Rule 12 of the Companies (Management and Administration)Rules 2014 in Form No. MGT - 9 is enclosed herewith as Annexure 1.

5. BOARD MEETINGS AND ATTENDANCE

The Directors of the Company met at regular intervals at least once in a quarter withthe gap between two meetings not exceeding 120 days to take a view of the Company'spolicies and strategies apart from the Board Matters.

During the year under the review the Board of Directors met 8 (Eight) times viz 30thMay 2019 15th June 2019 14th August 2019 19thAugust 2019 25th October 2019 26th October 2019 13thJanuary 2020 and 31st March 2020.

6. DIRECTORS RESPONSIBILITY STATEMENT

In accordance with the provisions of Section 134 (3)(c) and Section 134(5) of theCompanies Act 2013 to the best of their knowledge and belief the Board of Directorshereby submit that:

a. In the preparation of the Annual Accounts for the year ended on March 31 2020 theapplicable accounting standards have been followed and there are no material departurefrom the same

b. 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 at the end of Financial Year and of theprofit of the company for the Financial Year ended on March 31 2020

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

d. The directors had prepared the Annual Accounts on a going concern basis

e. The directors had laid down internal financial controls to be followed by theCompany and that such internal financial controls are adequate and are operatingeffectively and

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

7. COMMENT ON AUDITORS' REPORT

There were no qualifications reservations adverse remarks or disclaimer made by theAuditors in their report on the financial statement of the Company for the Financial Yearended on March 31 2020. Maintenance of cost records as specified under Companies Act2013 is not applicable to the Company.

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

The details of loans investment guarantees and securities covered under theprovisions of Section 186 of the Companies Act 2013 are provided in the financialstatement.

9. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

All transactions to be entered by the Company with related parties will be in theordinary course of business and on an arm's length basis. However the Company has notentered into any related party transaction as provided in Section 188 of the CompaniesAct 2013 with the related party. Hence Disclosure as required under Section 188 of theCompanies Act 2013 is not applicable to the Company.

10. INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has its Internal Financial Control systems commensurate with operations ofthe Company. The management regularly monitors the safeguarding of its assets preventionand detection of frauds and errors and the accuracy and completeness of the accountingrecords including timely preparation of reliable financial information.

The Head of Internal Audit together with External Audit consults and reviews theeffectiveness and efficiency of these systems and procedures to ensure that all assets areprotected against loss and that the financial and operational information is accurate andcomplete in all respects.

11. RESERVES & SURPLUS

Sr. No. Particulars (Rs. In Lakhs)
1. Balance at the beginning of the year (45.02)
2. Current Year's Profit 0.28
3. Amount of Securities Premium and other Reserves 0.52
Total (44.22)

12. DIVIDEND

To conserve resources for future prospect and growth of the Company your Directorsregret to declare Dividend for the Financial Year 2019-20 (Previous Year - Nil).

13. MATERIAL CHANGES AND COMMITMENTS IF ANY AFFECTING THE FINANCIAL POSITION OF THECOMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THE FINANCIALSTATEMENTS RELATES AND THE DATE OF THE REPORT

There are no material changes and commitments affecting the financial position of theCompany which has occurred in the Financial Year 2019-20.

14. TRANSFER TO THE INVESTOR EDUCATION AND PROTECTION FUND

Pursuant to Section 124 of the Companies Act 2013 the amount of dividend remainingunpaid or unclaimed for a period of seven years shall be transferred to the InvestorEducation and Protection Fund ("IEPF"). During the year under review there wasno unpaid or unclaimed dividend in the "Unpaid Dividend Account" lying for aperiod of seven years from the date of transfer of such unpaid dividend to the saidaccount. Therefore there were no funds which were required to be transferred to InvestorEducation and Protection Fund.

15. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS AND OUTGO

The details of conservation of energy technology absorption etc. as required to begiven under section 134(3)(m) of the Companies Act 2013 read with the Companies (Accounts)Rules 2014 is not given as the Company has not taken any major step to conserve theenergy etc. Further there was no foreign exchange earnings and outgo during the FinancialYear 2019-20 (Previous Year - Nil).

16. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF THE RISK MANAGEMENT POLICYOF THE COMPANY

The Company has in place a mechanism to identify assess monitor and mitigate variousrisks towards the key business objectives of the Company. Major risks identified by thebusiness and functions are systematically addressed through mitigating actions on acontinuing basis.

17. DIRECTORS AND KEY MANAGERIAL PERSONNEL

The Directors and Key Managerial Personnel of the Company are summarized below:

Sr. No. Name Designation DIN
1. Mr. Jitendrakumar Malviya1 Managing Director 08015437
2. Mr. Narayansinh Chauhan Independent Director 07424417
3. Ms. Chandrika Bhadaraka 2 Independent Director 08818509
4. Mr. Tejas Chavda3 Non-Executive Director 08379972
5. Mr. Sunilkumar Thakkar4 Non-Executive Director 08379996
6. Ms. Sejal Ladhawala5 Independent Director 07331231
7. Mr. Gaurav Bachani6 Independent Director 08015460
8. Ms. Disha Barot7 Company Secretary -
9. Mr. Tejas Chavda8 Chief Financial Officer -
10. Mr. Jitendrasingh Rathod9 Non Executive Director 02454172
11. Mr. Jitendrasingh Rathod9 Chief Financial Officer -

1 Mr. Jitendra Malviya was appointed as Managing Director on 30thSeptember 2019.

2 Ms. Chandrika Bhadaraka was appointed as Independent Director of the Companyw.e.f. 1st August 2020.

3 Mr. Tejas Chavda has resigned as Non Executive Director from the Company w.e.f.3rd September 2020

4 Mr. Sunilkumar Thakkar has resigned from the Company w.e.f. 27thMay 2020

5 Ms. Sejal Ladhawala was appointed as Independent Director of the Company w.e.f.30th May 2019 and has resigned from the Company w.e.f. 27th May2020.

6 Mr. Gaurav Bachani has resigned from the Company w.e.f. 30th May2019.

7 Ms. Disha Barot was appointed as Company Secretary w.e.f. 15th June2019.

8 Mr. Tejas Chavda was appointed as Chief Financial Officer w.e.f. 30thMay 2019 and has resigned as Chief Financial Officer w.e.f. 3rd September2020.

9 Mr. Jitendrasingh Rathod was appointed as Non Executive Director and ChiefFinancial Officer w.e.f. 5th September 2020.

Apart from the above changes there were no other changes in the composition of theBoard of Directors of the Company during the Financial Year 2019-20 and till the date ofBoard's Report.

As per Companies Act 2013 the Independent Directors are not liable to retire byrotation.

18. DECLARATION BY INDEPENDENT DIRECTORS

Ms. Chandrikaben Bhadaraka and Mr. Narayansinh Chauhan Independent Directors of theCompany have confirmed to the Board that they meet the criteria of Independence asspecified under Section 149 (6) of the Companies Act 2013 and they qualify to beIndependent Directors. They have also confirmed that they meet the requirements ofIndependent Director as mentioned under Regulation 16 (1) (b) of SEBI (Listing Obligationand Disclosure Requirements) Regulations 2015. The confirmations were noted by the Board.

19. CORPORATE GOVERNANCE

Since the Paid Up Capital of Company is less than Rs. 10 Crores and Turnover is lessthan Rs. 25 Crores therefore by virtue of Regulation 15 of SEBI (Listing Obligations &Disclosure Requirements) Regulations 2015 the compliance with the corporate governanceprovisions as specified in regulations 17 to 27 and clauses (b) to (i) of sub-regulation(2) of regulation 46 and para C D and E of Schedule V are not applicable to the Company.Hence Corporate Governance does not form part of this Board's Report.

20. SUBSIDIARIES JOINT VENTURES AND ASSOCIATE COMPANIES

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

21. DEPOSITS

As per Section 73 of the Companies Act 2013 the Company has neither accepted norrenewed any deposits during the Financial Year. Hence the Company has not defaulted inrepayment of deposits or payment of interest during the Financial Year.

22. FORMAL ANNUAL EVALUATION PROCESS BY BOARD

Pursuant to the provisions of the Companies Act 2013 and Rules made thereunder theBoard has carried the evaluation of its own performance performance of IndividualDirectors Board Committees including the Chairman of the Board on the basis ofattendance contribution towards development of the Business and various other criteria asrecommended by the Nomination and Remuneration Committee of the Company. The evaluation ofthe working of the Board its committees experience and expertise performance ofspecific duties and obligations etc. were carried out. The Directors expressed theirsatisfaction with the evaluation process and outcome.

In a separate meeting of Independent Directors the performances of Executive and NonExecutive Directors were evaluated in terms of their contribution towards the growth anddevelopment of the Company. The achievements of the targeted goals and the achievements ofthe Expansion plans were too observed and evaluated the outcome of which was satisfactoryfor all the Directors of the Company.

23. STATUTORY AUDITOR

M/s. S. Mandawat & Co. Chartered Accountants Ahmedabad (Firm's RegistrationNo.118330W) were appointed as the Statutory Auditors of the Company. The Auditor's reportfor the Financial Year ended March 31 2020 has been issued with an unmodified opinion bythe Statutory Auditors.

24. SECRETARIAL AUDITOR

The Board has appointed M/s. Gaurav Bachani & Associates Company SecretariesAhmedabad to conduct Secretarial Audit for the Financial Year 2019-20. The SecretarialAudit Report for the Financial Year ended 31st March 2020 is annexed herewithmarked as Annexure-2 to this Report. Remarks and Qualification marks in the SecretarialAudit report is self-explanatory.

25. DISCLOSURES

A. Composition of Audit Committee:

During the year under review meetings of members of the Audit committee as tabulatedbelow was held on 30th May 2019 14th August 2019 25thOctober 2019 13th January 2020 and the attendance records of the members ofthe Committee are as follows:

Name Status No. of the Committee Meeting entitled No. of Committee Meeting attended
1. Mr. Narayansinh Chauhan Chairman 4 4
2. Ms. Chandrikaben Bhadaraka1 Member 0 0
3. Mr. Jitendrakumar Malviya Member 4 4

(The details of Committee members are as on the date of Directors' Report)

1 Ms. Chandrikaben Bhadaraka was appointed as Member of Stakeholders'Relationship Committee w.e.f. 5th September 2020 During the year all therecommendations made by the Audit Committee were accepted by the Board.

B. Composition of Nomination and Remuneration Committee:

During the year under review meetings of the members of the Nomination andRemuneration committee as tabulated below was held on 30th May 2019 15thJune 2019 19th August 2019 and the attendance records of the members of theCommittee are as follows:

Name Status No. of the Committee Meeting entitled No. of Committee Meeting attended
1. Mr. Narayansinh Chauhan Chairman 3 3
2. Ms. Chandrikaben Bhadaraka1 Member 0 0
3. Mr. Tejas Chavda2 Member 0 0

(The details of Committee members are as on the date of Directors' Report)

1 Ms. Chandrikaben Bhadaraka was appointed as Member of Stakeholders'Relationship Committee w.e.f. 5th September 2020

2 Mr. Tejas Chavda has resigned from the post of Director w.e.f. 5thSeptember 2020 and so he has also resigned from Nomination and Remuneration Committeew.e.f. 5th September 2020.

C. Composition of Stakeholders' Relationship Committee:

During the year under review meetings of members of Stakeholders' Relationshipcommittee as tabulated below was held on 30th May 2019 14thAugust 2019 25th October 2019 13th January 2020 and theattendance records of the members of the Committee are as follows:

Name Status No. of the Committee Meeting entitled No. of Committee Meeting attended
1. Mr. Narayansinh Chauhan Chairman 4 4
2. Ms. Chandrikaben Bhadaraka1 Member 0 0
3. Mr. Jitendrakumar Malviya Member 4 4

(The details of Committee members are as on the date of Directors' Report)

1 Ms. Chandrikaben Bhadaraka was appointed as Member of Stakeholders'Relationship Committee w.e.f. 5th September 2020

26. DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITION& REDRESSAL) ACT 2013

The Company has always been committed to provide a safe and conducive work environmentto its employees. Your Directors further state that during the year under review therewere no cases filed pursuant to the Sexual Harassment of Women at Workplace (PreventionProhibition and Redressal) Act 2013 as confirmed by the Internal Complaints Committee asconstituted by the Company.

27. CORPORATE SOCIAL RESPONSIBILITY

Since the Net Worth of the Company is less than Rs. 500 Crores Turnover is less thanRs. 1000 Crores and Net Profit of the Company is less than Rs. 5 Crore during theimmediately preceding Financial Year therefore the provisions of Section 135 of theCompanies Act 2013 regarding the compliance with the Corporate Social Responsibility isnot applicable to the Company.

28. MANAGEMENT DISCUSSION AND ANALYSIS

Management Discussion and Analysis Report as required under Regulation 34 and ScheduleV of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015 forms anintegral part of this Report and provides the Company's current working and futureoutlook as per Annexure -3.

29. ACKNOWLEDGEMENTS

Your Directors would like to express their sincere appreciation for the co-operationand assistance received from the Bankers Regulatory Bodies Stakeholders includingFinancial Institutions Suppliers Customers and other business associates who haveextended their valuable sustained support and encouragement during the year under review.

Your Directors take this opportunity to recognize and place on record their gratitudeand appreciation for the commitment displayed by all executives officers and staff at alllevels of the Company. We look forward for the continued support of every stakeholder inthe future.

FORM No. MGT 9

EXTRACT OF ANNUAL RETURN

As on Financial Year ended on 31.03.2020 Pursuant to Section 92 (3) of the CompaniesAct 2013 and Rule 12(1) of the Companies (Management & Administration) Rules 2014

1. REGISTRATION & OTHER DETAILS

1. CIN L52100GJ1993PLC018943
2. Registration Date 05/02/1993
3. Name of the Company Aryavan Enterprise Limited
4. Category/Sub-category of the Company Company Limited by Share/Indian NonGovernment Company
5. Address of the Registered Office & Contact Details 308 Shital Varsha Arcade Opp. Girish Cold Drinks C. G. Road Navrangpura Ahmedabad - 380 009
6. Whether Listed Company Listed
7. Name Address & contact details of the Registrar & Transfer Agent if any Satellite Corporate Services Private Limited B-302 Sony Apartment Opp. St. Judes High School Off Andheri Kurla Road Jarimari Sakinaka Mumbai - 400 072

2. 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 the Main Pro ducts/Service NIC Code of the Product/Service % to Total Turnover of the Company
1 Wholesale of textile fibers etc. 46411 100

3. PARTICULARS OF HOLDING. SUBSIDIARY AND ASSOCIATE COMPANIES

Name and Address of the Company CIN Holding / Subsidiary/ Associate % of Shares held Applicable Section

NIL

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

% change during the year
Demat Physical Total % of Total Shares Demat Physical Total % of Total Shares
A. Promoters
(1) Indian
a) Individual 2555489 0 2555489 66.37 2485189 0 2485189 64.54 (1.83)
b) Central Govt. Or State Govt. 0 0 0 0.00 0 0 0 0.00 0.00
c) Bodies Corporate 0 0 0 0.00 0 0 0 0.00 0.00
d) Bank/FI 0 0 0 0.00 0 0 0 0.00 0.00
e) Any other 0 0 0 0.00 0 0 0 0.00 0.00
- HUF 0 0 0 0.00 0 0 0 0.00 0.00
- Clearing Member 0 0 0 0.00 0 0 0 0.00 0.00
SUB TOTAL:(A) (1) 2555489 0 2555489 66.37 2485189 0 2485189 64.54 (1.83)
(2) Foreign
a) NRI- Individuals 0 0 0 0.00 0 0 0 0.00 0.00
b) Other Individuals 0 0 0 0.00 0 0 0 0.00 0.00
c) Bodies Corp. 0 0 0 0.00 0 0 0 0.00 0.00
d) Banks/FI 0 0 0 0.00 0 0 0 0.00 0.00
e) Any other 0 0 0 0.00 0 0 0 0.00 0.00
SUB TOTAL (A) (2) 0 0 0 0.00 0 0 0 0.00 0.00
Total Shareholding of Promoter (A)= (A)(1)+(A)(2) 2555489 0 2555489 66.37 2485189 0 2485189 64.54 (1.83)
B. PUBLIC SHAREHOLDING
(1) Institutions
a) Mutual Funds 0 0 0 0.00 0 0 0 0.00 0.00
b) Banks/FI 0 0 0 0.00 0 0 0 0.00 0.00
C) Central govt. 0 0 0 0.00 0 0 0 0.00 0.00
d) State Govt. 0 0 0 0.00 0 0 0 0.00 0.00
e) Venture Capital Fund 0 0 0 0.00 0 0 0 0.00 0.00
f) Insurance Companies 0 0 0 0.00 0 0 0 0.00 0.00
g) FIIS 0 0 0 0.00 0 0 0 0.00 0.00
h) Foreign Venture Capital Funds 0 0 0 0.00 0 0 0 0.00 0.00
i) Others (specify) 0 0 0 0.00 0 0 0 0.00 0.00
SUB TOTAL (BUT): 0 0 0 0.00 0 0 0 0.00 0.00
(2) Non Institutions
a) Bodies corporates
i) Indian 0 0 0 0.00 1059 0 1059 0.03 0.03
ii) Overseas 0 0 0 0.00 0 0 0 0.00 0.00
b) Individuals
i) Individual shareholders holding nominal share capital upto Rs. 1 lakh 242952 5000 247952 6.44 292951 5000 297951 7.74 1.30
ii) Individual shareholders holding nominal share capital in excess of Rs. 1 lakh 960952 0 960952 24.96 1003888 0 1003888 26.07 1.11
c) Others (specify)
- Clearing Members 27750 0 27750 0.72 10 0 10 0.0003 (0.7197)
- HUF 58257 0 58257 0.15 62303 0 62303 1.62 1.47
SUB TOTAL (B)(2): 1289911 5000 1294911 1360211 5000 1409202 36.60 0.00
Total Public Shareholding (B)= (B)(1)+(B) (2) 1289911 5000 1294911 33.63 1360211 5000 1409202 36.60 0.00
C. Shares held by Custodian for GDRs & ADRs 0 0 0 0.00 0 0 0 0.00 0.00
Grand Total (A+B+C) 3845400 5000 3850400 100.00 3845400 5000 3850400 100.00 0.00

ii) Shareholding of Promoters

Shareholding at the beginning of the year

Shareholding at the end of the year

„ „ Shareholder's Sr. No. Name No. of Shares % of total Shares of the company %of Shares Pledged / encumbered to total shares No. of Shares % of total Shares of the company %of Shares Pledged / encumbered to total shares % change in shareholding during the year
1. Parikshit Mahatma 1071310 27.82 0.00 1071310 27.82 0.00 0.00
2. Sangitaben Jain 1282379 33.31 0.00 1282379 33.31 0.00 0.00
3. Sonal Mahatma 43000 1.12 0.00 43000 1.12 0.00 0.00
4. Rajeev Mahatma 35800 0.93 0.00 23100 0.60 0.00 (0.33)
5. Niranjan Jain 30000 0.78 0.00 00 0.00 0.00 (0.78)
6. Reena Mahatma 44000 1.14 0.00 39000 1.01 0.00 (0.13)
7. Neha Jain 49000 1.27 0.00 26400 0.69 0.00 (0.58)

iii) Change in Promoters' Shareholding

Sr. No. Particulars

Shareholding at the beginning of the year

Cumulative Shareholding during the year

Name of Shareholder(s) No. of shares % of total shares of the company No. of shares % of total shares of the company
Parikshit Mahatma
At the beginning of the year 1071310 27.82 1071310 27.82
1. Increase / Decrease in Promoters Shareholding during the year NIL
At the end of the year 1071310 27.82 1071310 27.82
Sangitaben Jain
At the beginning of the year 1282379 33.31 1282379 33.31
2. Increase / Decrease in Promoters Shareholding during the year NIL
At the end of the year 1282379 33.31 1282379 33.31
Sonal Mahatma
At the beginning of the year 43000 1.12 43000 1.12
3. Increase / Decrease in Promoters Shareholding during the year NIL
At the end of the year 43000 1.12 43000 1.12
Rajeev Mahatma
4 At the beginning of the year 35800 0.93 35800 0.93
. Disposed off during the year 12700 0.33 23100 0.60
At the end of the year 23100 0.60 23100 0.60
Niranjan Iain
5 At the beginning of the year 30000 0.78 30000 0.78
. Disposed off during the year 30000 0.78 30000 0.78
At the end of the year 0 0.00 0 0.00
Reena Mahatma
At the beginning of the year 44000 1.14 44000 1.14
. Disposed off during the year 5000 0.13 39000 1.01
At the end of the year 39000 1.01 39000 1.01
Neha Jain
7 At the beginning of the year 49000 1.27 49000 1.27
. Disposed off during the year 22600 0.59 26400 0.68
At the end of the year 26400 0.68 26400 0.68

iv) Shareholding Pattern of Top Ten Shareholders (Other than Directors. Promoters andHolders of GDRs and ADRs)

Particulars Shareholding at the beginning of the year
No. of shares % of total shares of the company
1. Nishtha Pachouri 190000 4.93
2. Gaurav Pachouri 190000 4.93
3. Manjulaben Chandubhai Sadhu 112353 2.92
4. Maheshbhai Manibhai Patel 43991 1.14
5. Dipak Ramlal Joshi 32000 0.83
6. Binalben Parin Patel 31486 0.82
7. Shyamal Upendrabhai Thakar 31295 0.81
8. Mukesh V Sangai HUF 26556 0.69
9. Minal Paresh Patel 25950 0.67
10. Kuldipkumar Vinubhai Jain 24241 0.63
11. KA Patel Rajeshbhai 20878 0.54

v. Shareholding of Directors and Key Managerial Personnel

Shareholding at the beginning of the year

Cumulative Shareholding during the year

Sr. No. Name of Director(s) & KMP No. of shares

% of total shares of the company

No. of shares % of total shares of the company
Jitendrakumar Malviya
At the beginning of the year 0

0.00

0 0.00
1. Acquired during the year 25

0.00

25 0.00
At the end of the year 25

0.00

25 0.00
Jitendrasingh Rathod
At the beginning of the year 0

0.00

0 0.00
2. Increase / Decrease during the year NIL
At the end of the year 0

0.00

0 0.00
Narayansinh Chauhan
At the beginning of the year 0

0.00

0 0.00
3. Increase / Decrease during the year

No Change during the year

At the end of the year 0

0.00

0 0.00
Chandrika Bhadaraka
At the beginning of the year 0

0.00

0 0.00
4. Increase / Decrease during the year

No Change during the year

At the end of the year 0

0.00

0 0.00
Disha Barot
At the beginning of the year

0

0.00 0 0.00
5. Increase / Decrease during the year

No Change during the year

At the end of the year

0

0.00 0 0.00

V. INDEBTEDNESS

Indebtedness of the Company is as below:

(Rs. In lakhs)

Particulars Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the Beginning of the Financial Year 00 55.26 00 55.26
i) Principal Amount 00 00 00 00
ii) Interest due but not paid 00 00 00 00
iii) Interest accrued but not due 00 00 00 00
Total (i+ ii+ iii) 00 55.26 00 55.26
Change in Indebtedness during the financial year 00 (18.54) 00 (18.54)
• Addition 00 00 00 00
• Reduction 00 (18.54) 00 (18.54)
Net Change 00 (18.54) 00 (18.54)
Indebtedness at the end of the financial year 00 36.72 00 36.72
i) Principal Amount 00 00 00 00
ii) Interest due but not paid 00 00 00 00
iii) Interest accrued but not due 00 00 00 00
Total (i + ii+ iii) 00 36.72 00 36.72

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

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

The Company has not paid any remuneration to the Managing Director due to NominalProfits occurred during the year under review.

B. Remuneration to other Directors:

The Company has not paid any remuneration or Sitting Fees / Commission to any Directorsof the Company.

C. Remuneration to Key Managerial Personnel other than MD/Manager/WTD:

1. Ms. Disha Barot (CS) - Rs. 114000/-

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: NIL