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B&B Realty Ltd.

BSE: 506971 Sector: Infrastructure
NSE: N.A. ISIN Code: INE314E01019
BSE 00:00 | 27 Aug B&B Realty Ltd
NSE 05:30 | 01 Jan B&B Realty Ltd
OPEN 4.23
PREVIOUS CLOSE 4.23
VOLUME 427
52-Week high 4.23
52-Week low 0.00
P/E 15.11
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.23
CLOSE 4.23
VOLUME 427
52-Week high 4.23
52-Week low 0.00
P/E 15.11
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

B&B Realty Ltd. (BBREALTY) - Director Report

Company director report

The Shareholders

Your Directors have pleasure in presenting the Annual Report together with the AuditedStatement of the Accounts for the financial year ended on 31st March 2020. TheManagement Discussion and Analysis Report which is required to be furnished as per SEBI(Listing Obligations and Disclosure Requirements) 2015 (hereinafter referred to asListing Regulations) has been included in the Directors Report to avoid duplication andrepetition.

COMPANY PERFORMANCE OVERVIEW

(in Rs)

Particulars FY 2019-20 FY 2018-19
Total Revenue 11520000 0
Total Expenditure 9237000 2835000
Profit before Exceptional and Extraordinary Items and Tax 2283000 (2835000)
Less Exceptional Items 00 00
Less: Extraordinary Items 00 00
Profit or (Loss) before Tax 2283000 (2835000)
Less: Current Tax 00 00
Less: Deferred Tax 00 00
Profit or (Loss) after Tax 2283000 (2835000)

OPERATIONAL OVERVIEW

During the year the company has earned a profit of Rs 2283000 for the year ended 31stMarch 2020

COVID 19 IMPACT AND RISK ASSESSMENT

The outbreak of the COVID 19 pandemic developed into a global crisis in the lastquarter of the FY 2019-20 forcing countries globally to impose lockdown conditions on allactivities impacting the economy at large. At the onset of the pandemic spread in Indiathe priority of the Company was the safety and health of its employees and otherstakeholders with minimal disruption to operations.

Once the lockdown was imposed a swift transition to remote working was made by puttingin place a framework for operating from home with well established products. Thisadherence was ensured not only from a regulatory compliance perspective but by keeping inmind the well-being of our employees customers and other stakeholders.

The COVID 19 pandemic has caused unprecedented disruption in business and operationmodels globally. This has cascading uncertainties making market and business conditionsvolatile. The Company has identified the various risks owing to COVID 19 that could impactfuture performance and is taking initiatives to mitigate the same.

RESERVES

The Board of Directors of your Company has decided not to transfer any amount to theReserves for the year under review.

DIVIDEND

The Board of Directors of your Company after considering holistically the relevantcircumstances has decided that it would be prudent not to recommend any Dividend for theyear under review.

HUMAN RESOURCE DEVELOPMENT

Human Capital is the most precious asset in any organization. The Company has a strongand diverse workforce where every employee is involved as "partners" in theprogress. The intangible asset comprises all the competencies of the people within theorganization in terms of education experience potential and capacity.

Employee relations continue to be smooth and cordial and the work atmosphere remainedcongenial throughout the year.

QUALITY INITIATIVES

The Company continues to sustain its commitment to the highest levels of qualitysuperior service management robust information security practices and mature businesscontinuity management.

SUBSIDIARY COMPANIES

The Company has nil Subsidiaries

DIRECTORS

In accordance with the provisions of the Companies Act 2013 and the Articles ofAssociation of the Company Mrs Rubina Bhandari and Mrs Veena Kumari Jain Directorsretires by rotation at the forthcoming Annual General Meeting and expresses their desireto be reappointed. Their appointment has been taken as point 3 & 4 of the Noticeannexed with this Annual Report.

DIRECTOR'S RESPONSIBILITY STATEMENT

In accordance with the provisions of Section 134(5) of the Companies Act 2013 theBoard to the best of its knowledge and belief according to the information and explanationobtained by it confirm that:

• In the preparation of the annual accounts for the year ended 31stMarch 2020 applicable accounting standards have been followed and there have been nomaterial departures thereof;

• They have selected appropriate accounting policies and applied them consistentlyand made judgements and estimates that are reasonable and prudent so as to give a trueand fair view of the state of affairs of the Company as at the end of the financial yearand of the profits of the Company for that period;

• 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;

• The annual accounts have been prepared on a going concern basis;

• Proper internal financial controls were in place and that the financial controlswere adequate and were operating effectively;

• Proper systems have been devised to ensure compliance with the provisions of allapplicable laws and that such systems were adequate and operating effectively.

KEY MANAGERIAL PERSONNEL

During the year under review Mr Bharat Bhandari has been assigned the position of ChiefFinancial Officer (CFO) of the Company and Ms Apeksha Nagori has been appointed as theCompany Secretary of the Company.

Mr Bharat Bhandari Managing Director and CFO and Ms Apeksha Nagori Company Secretaryare the Key Managerial Personnel of the Company as per the Section 203 of the CompaniesAct 2013.

BOARD MEETINGS

During the year five Board Meetings were convened and held in accordance with theprovisions of the Act. The date(s) of the Board Meeting attendance by the Directors aregiven in the Corporate Governance Report forming an integral part of the Report.

REMUNERATION DETAILS OF DIRECTORS

Disclosures pertaining to remuneration and other details as required under Section197(12) of the Companies Act 2013 read with Rule 5(1) of the Companies (Appointment andRemuneration of Managerial Personnel) Rules 2014 are provided in the prescribed format andannexed as Annexure 4 to this Director's Report.

COMMITTEES OF THE BOARD

In compliance with the provisions of Sections 177 and 178 of the Companies Act 2013the Board has constituted Audit Committee Nomination and Remuneration Committee andStakeholders Relationship Committee. The details of the composition of the Committeestheir meeting and attendance of the members are given in the Corporate Governance Reportforming an integral part of this Report

STATUTORY AUDITORS AND AUDITORS' REPORT

M/s T. Srinivasa and Co. Chartered Accountants (Firm Registration Number 016624s)Bangalore were appointed as Statutory Auditors for a term of 3 consecutive years at the 34thAnnual General Meeting subject to the ratification of their appointment at every AGM.

The Report given by M/s T. Srinivasa and Co. Chartered Accountants on the FinancialStatements of the Company for the year ended 31st March 2020 is provided in thefinancial section of the Annual Report. There are no qualifications reservations adverseremarks or disclaimers given by the Auditors in their Report. The notes on Accountsreferred to in the Auditors' Report are self — explanatory and do not call for anyfurther comments.

SECRETARIAL AUDIT

Pursuant to the provisions of the Section 204 of the Companies Act 2013 and the rulesframed thereunder the Company has appointed Mr Vikram Raj G A Vikram Raj &Associates Company Secretaries to undertake the secretarial audit for the financial year2019-20. The Report of the Secretarial Auditor confirming compliance with the applicableprovisions of the Companies Act

2013 and other rules and regulations issued by SEBI/ other regulatory authorities formspart of the Annual Report. There were no qualifications or adverse remarks in the auditreport.

RISK MANAGEMENT

The risk management issues are discussed in detail in the report of the ManagementDiscussion and Analysis. Since the risk control framework is new to Indian corporateculture it is being strengthened on a continuous basis.

LOANS GUARANTEES AND INVESTMENTS

There have been no investments under Section 186 of the Companies Act during the year.There were yes/no loans or guarantees covered under Section 186 granted during the year.

FIXED DEPOSIT

During the year the Company has not accepted deposits from the public falling withinthe ambit of the Section 73 of the Companies Act 2013 and the rules framed thereunder andno amount of principal or interest was outstanding as on the balance sheet date.

INDIAN ACCOUNTING STANDARDS (IND-AS) -IFRS CONVERGED STANDARDS

The Company has adopted the IND AS pursuant to the Companies (Indian AccountingStandard) Rules 2015 notified by the Ministry of Corporate Affairs on 16thFebruary 2015.

CORPORATE GOVERNANCE

The Governance Philosophy of your Company is based on high ethical values andprofessionalism which the Company has incorporated in itself since incorporation. TheCompany aims at exhibiting maximum transparency and adequacy of reports/ informationprovided under mandatory provision or otherwise.

In terms of Regulation 34(3) read with Schedule V of the Listing Regulations aseparate section on Corporate Governance including the certificate from the StatutoryAuditors confirming compliance is annexed to this Annual Report.

RELATED PARTY TRANSACTIONS

A statement in summary form of all the transactions entered into with the relatedparties in the ordinary course of business details of material individual transactionswith related parties that are not in the normal course of the business and details ofmaterial individual transactions with related parties that are not on arm's length basisare placed before the audit committee. There are no material transactions with relatedparties which require separate disclosure. A comprehensive list of the transactionsentered into with the related parties as required by the Accounting Standards (AS) 18issued by the Institute of Chartered Accountants of India is given as a separate scheduleto the accounts in the Annual Report.

PARTICULARS OF EMPLOYEES

None of the Employees of the Company were drawing emoluments more than what has beenspecified under Section 134 of the Companies Act 2013.

EXTRACT OF ANNUAL RETURN

The extract of Annual Return in form MGT -9 as required under Section 92(3) of the Actand the Rules framed thereafter is annexed to and forms part of this report

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGEXCHANGE EARNINGS AND OUTGO:

The information pertaining to conservation of energy technology absorption ForeignExchange Earnings and outgo as required under Section under Section 134 (3)(m) of theCompanies Act 2013 read with Rule 8(3) of the Companies (Accounts) Rules 2014 isfurnished to this report.

CONSERVATION OF ENERGY

The operations of the company are not energy intensive. However significant measuresare -taken to reduce energy consumption by using energy — efficient computers and bythe purchase of energy- efficient equipment. Your company constantly evaluates newtechnologies and invests to make its infrastructure more energy- efficient.

A. TECHNOLOGY ABSORPTION ADOPTION AND INNOVATION

This is not applicable to your company as the company is into real- estate business.

B. FOREIGN EXCHANGE EARNINGS AND OUTGO:

Total Foreign Exchange earnings and outgo for the Financial Year is as follows:

a) Total Foreign Exchange Earnings- Nil

b) Total Foreign Exchange Outgo- Nil

GREEN INITIATIVE IN CORPORATE GOVERNANCE

The Ministry of Corporate Affairs (MCA) has recently taken a green initiative inCorporate Governance by allowing paperless compliances by the Companies and permitted theservice of Annual Reports and documents to the shareholders through electronic modesubject to certain conditions. Your Company appreciates the initiative taken by the MCA asit strongly believes in a green environment. This initiative also helps in prompt receiptof communication apart from avoiding losses/delays in postal transit. The Notice ofAnnual General Meeting Annual Report and all communications hitherto will be sent to themembers in electronic form at the e-mail address provided by them to the depositories orRegistrars & Transfer Agents of the Company. The same will be sent by post physicallyto the Members whose e-mail addresses are not available. Members can also have the accessto the documents through the Company's website. The documents will also be available tothe members for inspection at the Registered Office of the Company during the officehours. Members also entitled to be furnished with copies of the abovementioned documentsfree of cost upon receipts of requisition at any point of time.

ACKNOWLEDGEMENT

The Board would like to record their sincere appreciation for the co-operation receivedfrom various stakeholders of the Company viz. customers suppliers bankers investorschannel partners government and statutory authorities auditors business associates andshareholders. Your Directors extend their gratitude to all the regulatory agencies likeSEBI Registrar of Companies Stock Exchanges and other Central and State Governmentauthorities/agencies vendors and sub- contracting partners for their support. The Boardalso acknowledges the unstinted co-operation commitment and dedication made by all theemployees of the Company.

The Directors also wish to place on record their gratitude to the members of theCompany for their unrelenting support & confidence.

On & behalf of the Board
For B & B Realty Limited
Gaurav Kumar Bhandari Bharat Kumar Bhandari
Director Managing Director

 

Place : Bangalore
Date: 5th September 2020

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