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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 5.72
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 5.72
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 2021. The ManagementDiscussion and Analysis Report which is required to be furnished as per SEBI (ListingObligations and Disclosure Requirements) 2015 (hereinafter referred to as ListingRegulations) has been included in the Directors Report to avoid duplication andrepetition.

COMPANY PERFORMANCE OVERVIEW

(in Rs)

Particulars FY 2020-21 FY 2019-20
Total Revenue 7800000 11600000
Total Expenditure 7695000 11168000
Profit before Exceptional and Extraordinary Items and Tax 105000 432000
Less Exceptional Items 00 00
Less: Extraordinary Items 00 00
Profit or (Loss) before Tax 105000 432000
Less: Current Tax 0 00
Less: Deferred Tax 0 00
Profit or (Loss) after Tax 105000 432000

OPERATIONAL OVERVIEW

During the year the company has earned a profit of Rs 105000 for the year ended 31stMarch 2021

COVID 19 IMPACT AND RISK ASSESSMENT

The year 2020 began with the spread of the Corona Virus (COVID-19) impacting economiesresulting in a global recession steepest over the last eight decades. With stricterlockdowns imposed in various countries the pandemic led to demand shortfalls supplychain bottlenecks disturbances in global trade travel tourism and massive outflow ofcapital.

In India we witnessed one of the strictest lockdowns in the world the contraction inits GDP was recorded to be one of the steepest among major economies.

As a measure to boost the economy the Government announced a special economic andcomprehensive package under Atma Nirbhar Bharat of Rs 20 lakh crore- equivalent to 10percent of India's GDP. Several structural reforms announced as a part of the packageinteralia include deregulation of the agricultural sector change in definition of MSMEsnew PSU policy commercialization of coal mining higher FDIs limits in defence and spacesector development of Industrial Land/Land Bank and Industrial Information SystemProduction Linked Incentive Schemes revamp of Viability Gap Funding scheme for socialinfrastructure new power tariff policy and reincentivizing to undertake sector reforms.Apart from this various steps were also taken to boost consumption.

The second wave of infections presents a risk to the country's growth as there-imposition of virus management measures may curb economic activity and could dampenmarket and consumer sentiment. Given the devastating impact of the second wave India'sGDP growth estimates for the current year are set to be progressively recalibrateddownwards but the less stringent lockdowns vaccination campaigns as well as otherinitiatives being taken to tackle the resurgence is expected to have less adverseseverity.

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 Mr Uttam Chand Bhandari and Mr Gaurav Kumar BhandariDirectors retires by rotation at the forthcoming Annual General Meeting and expressestheir desire to be reappointed. Their appointment has been taken as point 3 & 4 of theNotice annexed 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 31st March 2020applicable accounting standards have been followed and there have been no materialdepartures 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

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 four 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 the34th Annual 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 the financialsection of the Annual Report. There are no qualifications reservations adverse remarksor disclaimers given by the Auditors in their Report. The notes on Accounts referred to inthe Auditors' Report are self - explanatory and do not call for any further comments.

As their term period of 5 years ended with this AGM the Company has sought a consentfrom M/s G R Venkatanarayana Chartered Accountants to be appointed as the StatutoryAuditors of the Company for a period of 5 years starting from the 38th AGM till theconclusion of 43rd AGM of the Company subject the approval of the members in the 38th AGMof the Company. The item has been taken as point no ii of the Agenda.

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 year2020-21 & 2021-22. The Report of the Secretarial Auditor confirming compliance withthe applicable provisions of the Companies Act 2013 and other rules and regulations issuedby SEBI/ other regulatory authorities forms part of the Annual Report. There were noqualifications or adverse remarks in the audit report.

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 16th February 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 FOREIGN EXCHANGE 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 above mentioned 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: 6th September 2021

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