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Beekay Niryat Ltd.

BSE: 539546 Sector: Others
NSE: N.A. ISIN Code: INE679E01015
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NSE 05:30 | 01 Jan Beekay Niryat Ltd
OPEN 11.38
PREVIOUS CLOSE 11.38
VOLUME 10
52-Week high 12.80
52-Week low 8.50
P/E 32.51
Mkt Cap.(Rs cr) 9
Buy Price 10.92
Buy Qty 300.00
Sell Price 11.38
Sell Qty 1312.00
OPEN 11.38
CLOSE 11.38
VOLUME 10
52-Week high 12.80
52-Week low 8.50
P/E 32.51
Mkt Cap.(Rs cr) 9
Buy Price 10.92
Buy Qty 300.00
Sell Price 11.38
Sell Qty 1312.00

Beekay Niryat Ltd. (BEEKAYNIRYAT) - Director Report

Company director report

To the Members of the Company

Your Directors have pleasure in presenting the 44th Annual Report on the business andoperations of your Company with Audited Accounts for the year ended March 31 2019.

1. Financial Performance

The highlights of the financial position for the year as compared to the correspondingperiod in the previous year are given below;

Rs. in Lacs
Particulars FY 2018-2019 FY 2017-2018
Revenue from Operations 263.32 199.63
Other Income 70.94 57.29
Total Income 334.26 256.92
Purchases 258.04 194.00
Employee Benefit Expenses 14.41 13.31
Administration and Other Expenses 40.58 12.05
Sub-Total 313.03 219.36
Profit before Interest Depreciation and Tax 21.24 37.56
Depreciation and Amortization Expense 0.17 0.30
Profit before Interest and Tax 21.07 37.26
Finance Cost 0.48 0.03
Profit Before Tax & Extraordinary Items 20.59 37.23
Tax Expense
-Current Tax 5.93 9.67
-Deferred Tax Liability/(Assets) 0.009 0.24
Net Profit for the Year 14.65 27.32

2. Review of operations and affairs of the Company:

During the year under review the Company has earned a profit before InterestDepreciation & Tax of Rs. 21.24 lacs as compared to profit 37.56 lacs in previousyear. The net profit for the year under review has been Rs. 14.65 lacs as compared to theprevious year net profit Rs. 27.32 lacs. Your Directors are continuously looking foravenues for future growth of the Company in Jute Industry.

3. Issue of Bonus Shares

The Company allotted 1114237 (Eleven lacs fourteen thousand two hundred thirty seven)equity share as fully paid up bonus shares in the ratio of 1:1 (one equity share for everyone existing equity share held on the record date) to its public category's shareholderson October 10 2018 pursuant to a resolution passed by the shareholders on September 282018.

4. Share Capital

The Authorized Share Capital of the Company on March 31 2019 was 80000000/- (EightCrore rupees) divided into 8000000 (Eighty Lacs) equity share of Rs. 10/- (Ten) each andthe paid up Equity Share Capital of the Company as on March 31 2019 was 76842370.During the year under review the Company has issued 1114237 Bonus Equity Share to itspublic category's Shareholders in the ratio of 1:1 i.e. for every one equity share held inthe Company one Bonus equity share was issued to its public category's Shareholders.

5. Dividend:

In order to preserve the funds for further diversification the Board of Directors ofthe Company has decided not to recommend payment of dividend for the financial year2018-19.

6. Transfer to Reserves:

The entire net profit of the Company for FY 2018-19 is retained as surplus. The Companyhas not proposed to transfer any amount to any reserve equity.

7. Board of Directors & Key Managerial Personnel

In accordance with the provision of Companies Act 2013 including amendments if anyand the articles of Association of the Company Sh. Sree Gopal Bajoria Managing Directorof the Company whose term expire on September 26 2019 is proposed to be re-appointed onthe Board of Directors of the Company for the further period of 3 years w.e.f. September26 2019.

During the year under review the term of appointment of Mr. Pratap Kumar Mondal andMrs. Shashi Tibrewal Independent Director of the Company were expired on March 31 2019.Based on their skill knowledge and past performance evaluation Mr. Pratap Kumar Mondaland Mrs. Shashi Tibrewal were appointed as Additional Director of the Company w.e.f. April01 2019 under the category of Non-Executive Independent Director and they will holdoffice upto the date of ensuring Annual General Meeting . In terms of Section 149 152Schedule IV and other applicable provisions if any of the Companies Act 2013 read withthe Companies (Appointment and Qualification of Directors) Rules 2014 the IndependentDirectors can hold office for five consecutive years on the Board of Directors of yourCompany and are not liable to retire by rotation. Accordingly the Nomination andRemuneration Committee recommended the appointment of Mr. Pratap Kumar Mondal and Mrs.Shashi Tibrewal as Independent Directors of the Company for five consecutive years witheffect from April 01 2019 to 31 March 2024 not liable to retire by rotation. Thedeclaration is received by Mr. Pratap Kumar Mondal and Mrs. Shashi Tibrewal that they meetthe criteria of Independence as laid down under section 149 (6) of the Companies Act2013. In the opinion of the Board Mr. Pratap Kumar Mondal and Mrs. Shashi Tibrewalfulfill the condition specified in the Companies Act 2013 and rules made thereunder fortheir appointment as Independent Director of the Company and are Independent of themanagement. Brief resume of the aforesaid Directors and other information have beendetailed in the Notice. During the year under review Mr. Damodar Prasad Sodhani resignedfrom the post of Chief Financial Officer w.e.f. November 26 2018 in Board meeting held onNovember 29 2018. Further in the meeting of Board of Directors of the Company which washeld on February 14 2019 Mr. Nipurn Dosi have been appointed as Chief Financial Officerof the Company w.e.f. February 01 2019.

Hence the following persons act as a Key Managerial Personnel of the Company pursuantto Section 2 (51) and section 203 of the Act read with rules framed thereunder:-

(i.) Mr. Sree Gopal Bajoria Managing Director (ii.) Mr. Nipurn Dosi Chief FinancialOfficer (iii.) Ms. Jaishree Datwani Company Secretary

8. Deposits:

During the year under review your company has not accepted any deposits from thepublic within the meaning of section 76 of the Companies Act 2013 and the rules thereunder. Therefore it is not required to furnish information in respect of outstandingdeposits under Non- banking Non- financial Companies (Reserve Bank) Directions 1966 andCompanies (Accounts) Rules 2014.

9. Listing of Equity Shares

The equity shares of the Company are listed with BSE Ltd. The requisite annual listingfee has been paid to the Stock Exchanges.

10. Particulars of loans guarantees or investments:

Loans and investments covered under Section 186 of the Companies Act 2013 form part ofthe notes to the financial statements provided in this Annual Report. Further it isinformed that the Company has neither given any guarantees nor provided any securityduring the Financial Year under review.

11. Particulars of contracts or arrangements made with related parties:

All contracts/ arrangements/ transactions entered by the Company during the year withrelated parties were in the ordinary course of business and on an arm's length basis.During the year the Company had not entered into any contract/ arrangement/ transactionwith related parties which could be considered material in accordance with the policy ofthe company on materiality of related party transactions. Accordingly the disclosure ofRelated Party Transaction as required under Section 134 (3) (h) of the Companies Act 2013in Form AOC-2 is not applicable. The policy on materiality of related party transactionsand dealing with related party transaction as approved by the Board may be accessed on theCompany's website bkn.bajoriagroup.in

12. Variation in market Capitalization:

During the financial year under review the Securities of your company were listed onBSE Limited only. The market data of BSE ltd is as follows:

Particulars Month Wise High Price Low Price
April 2018 14.70 13.36
May 2018 13.28 11.40
June 2018 10.83 10.83
July 2018 10.29 10.29
August 2018 11.28 9.30
September 2018 16.50 11.17
October 2018 17.35 7.60
November 2018* 7.50 6.33
December 2018 6.33 5.16
January 2019 5.58 4.85
February 2019 5.85 5.13
March 2019 8.13 5.85

* There is a high variation in market capitalization between October and November monthwhich is due to issue of Bonus share by the Company to its Non-Promoter shareholders.

13. Management's Discussion and Analysis:

In terms of the Regulation 34 read with Schedule V of SEBI (LODR) Regulations 2015Management Discussion and Analysis is set out in the Annual Report as “AnnexureIV”.

14. Director's Responsibility Statement:

Pursuant to the requirements under Section 134(3)(c) and Section 134(5) of theCompanies Act 2013 with respect to Directors Responsibility Statement your Directorshereby confirmed that: i. in the preparation of the annual accounts for the financial yearended 31st March 2019 the applicable accounting standards have been followed and thereare no material departures; ii. the directors have selected such accounting policies andapplied them consistently and made judgments and estimates that are reasonable and prudentso as to give a true and fair view of the state of affairs of the Company at the end ofthe financial year and of the profit and loss of the Company for that period; iii. thedirectors have taken proper and sufficient care for the maintenance of adequate accountingrecords in accordance with the provisions of the Companies Act 2013 (erstwhile CompaniesAct 1956) for safeguarding the assets of the Company and for preventing and detectingfraud and other irregularities; iv. the directors have prepared the annual accounts forthe financial year ended 31st March 2019 on a going concern basis; v. the directors havelaid down internal financial controls to be followed by the Company and such internalfinancial controls are adequate and operating effectively; vi. the directors have devisedproper systems to ensure compliance with the provisions of all applicable laws and thatsuch systems were adequate and operating effectively.

15. Recommendations of the Audit Committee:

During the year under review all the recommendations made by the Audit Committee wereaccepted by the Board.

16. Human Resource Management:

To ensure good human resources management at Beekay Niryat Limited we focus on allaspects of the employee lifecycle. This provides a holistic experience for the employee aswell. During their tenure at the Company employees are motivated through variousskill-development engagement and volunteering programs. All the while we createeffective dialogs through our communication channels to ensure that the feedback reach therelevant teams including the leadership.

17. Particulars of employees:

The table containing the details of remuneration of Directors and Employees inaccordance with the provisions of Section 197(12) of the Companies Act 2013 read withRule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules2014 is appended as “Annexure II” to this report. There are no employeeswho were in receipt of remuneration in excess of the ceiling prescribed in the Rule 5(2)of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014. TheCompany currently does not provide any Employee Stock Option Scheme/Employee StockPurchase Scheme to its employees.

18. Corporate Governance:

Corporate governance is an ethically driven business process that is committed tovalues aimed at enhancing an organization's brand and reputation. This is ensured bytaking ethical business decisions and conducting business with a firm commitment tovalues while meeting stakeholders' expectations. At Beekay Niryat Limited it isimperative that our company affairs are managed in a fair and transparent manner. This isvital to gain and retain the trust of our stakeholders. The Company is committed tomaintain the highest standards of corporate governance and adhere to the corporategovernance requirements set out by SEBI. The Company has also implemented several bestcorporate governance practices as prevalent globally. The Report on Corporate Governanceas stipulated under Regulation 27 of SEBI (LODR) Regulations 2015 is not applicable tothe company and hence the compliance of the same is not mandatory. An undertaking/declaration from the Managing Director of the Company for non-applicability is annexedherewith as “Annexure- V”.

19. Auditors' certificate on Corporate Governance:

As required by Regulation 27 of SEBI (LODR) Regulations 2015 the Auditors' Certificateon Corporate Governance is not required.

20. Details with regards to meeting of Board of Directors of the Company:

The Board met 10 (Ten) times during the financial year 2018-19. The intervening gapbetween the meetings was within the time period prescribed under the Companies Act 2013and Regulation 17 of the Securities and Exchange Board of India (Listing Obligation andDisclosure Requirements) Regulations 2015 as amended from time to time.

Sr. No. Date of Meeting
1 25.05.2018
2 11.06.2018
3 07.08.2018
4 14.08.2018
5 14.09.2018
6 10.10.2018
7 14.11.2018
8 29.11.2018
9 14.02.2019
10 30.03.2019

21. Declaration by Independent Directors:

The Company has received necessary declarations from each Independent Director underSection 149(7) of the Companies Act 2013 that he/she meets the criteria of independencelaid down in Section 149(6) of the Companies Act 2013 and Regulation 27 of SEBI (LODR)Regulations 2015.

22. Re-appointment of Directors

As per the provision of Section 152 of the Companies Act 2013 every company shallhave at least 2/3rd rotational directors of the total number of Directors of the Companyfor the time being in force. However this section further provides that IndependentDirectors shall not be liable to retire by rotation and shall not be included in totalnumber of directors for this purpose. At present your Company does not have suchdirectors who shall retire by rotation at annual general meeting. However in order tocomply with the provisions of Companies Act 2013 your Company is in the process toinduct few more directors who shall be liable to retire by rotation.

23. Familiarization Programme for Independent Directors

In compliance with the requirements of SEBI (Listing Obligation and DisclosureRequirements) Regulation 2015 the Company has put in place a familiarization programmefor Independent Directors as a guide for Independent Directors wherein the familiarizationprocess to familiarize the Independent Directors with the Company has been provided as andwhen required. The same is available on the website of the Company bkn.bajoriagroup.in

24. Board's Committees:

Currently the Board has two committees: 1. the Audit committee and

2. the Nomination and Remuneration committee

As per the provision of Section 178 (5) and Regulation 15 of SEBI (Listing Obligationand Disclosure Requirements) Regulations 2015 formation of Stakeholders RelationshipCommittee is not mandatory for the Company and hence it is not formed. The composition ofthe committees and compliances as per the applicable provisions of the Act and Rules areas follows:

Name of the Committee Name of the Company Member Position in the Committee
Mr. Pratap Kumar Mondal Chairman
Audit Committee Mr. Sree Gopal Bajoria Member
Mrs. Shashi Tibrewal Member
During the year the committee met 4 times on 25.05.2018 14.08.2018 14.11.2018 and 14.02.2019.
Name of the Committee Name of the Company Member Position in the Committee
Mr. Umesh Joshi Chairman
Mr. Pratap Kumar Mondal Member
Nomination and
Remuneration Committee Mrs. Shashi Tibrewal Member

During the year the committee met 3 times on 29.11.2019 13.02.2019 and 30.03.2019.

25. Board Evaluation:

Regulation 4 and 17 of Securities and Exchange Board of India (Listing Obligations andDisclosure Requirements) Regulations 2015 mandates that the Board shall monitor andreview the Board Evaluation framework. The Companies Act 2013 states that a formal annualevaluation needs to be made by the Board of its own performance and that of the committeesand individual director. Schedule IV of the Companies Act 2013 states that theperformance evaluation of independent directors shall be done by the entire Board ofDirectors excluding the independent director being evaluated. The performance of theBoard was evaluated by the Board after seeking inputs from all the directors on the basisof the criteria such as the Board composition and structure effectiveness of boardprocesses information and functioning etc. The performance of the committees wasevaluated by the board after seeking inputs from the committee members on the basis of thecriteria such as the composition of committees effectiveness of committee meetings etc.

The Board and the Nomination and Remuneration Committee (“NRC”) reviewed theperformance of the individual directors on the basis of the criteria such as thecontribution of the individual director to the Board and committee meetings likemeaningful and constructive contribution and inputs in meetings etc. In addition theChairman was also evaluated on the key aspects of his role. In a separate meeting ofindependent Directors performance of non-independent directors performance of the boardas a whole and performance of the Chairman was evaluated taking into account the views ofexecutive directors and non-executive directors.

26. Statutory Auditors:

M/s. RANKS & Associates Practicing Chartered Accountants Mumbai were appointedas Statutory Auditors of your Company at the 40th Annual General Meeting to hold officetill the conclusion of 45th Annual General Meeting to be held in the year 2020. Further asper the provisions of Section 40 of the Companies (Amendment) Act 2017 proviso ofSection 139 (1) of the Companies act 2013 which states that the appointment of StatutoryAuditors of the Company shall be placed for the ratification by the members at everyAnnual General Meeting have been omitted w.e.f. May 7 2018. Accordingly the ordinaryresolution for ratification of appointment of statutory auditor has not been proposed inthe ensuing Annual General Meeting of the company.

27. Secretarial Auditor:

Pursuant to the provisions of section 204 of the Companies Act 2013 and The Companies(appointment and Remuneration of Managerial Personnel) Rules 2014 the company hasappointed M/s. Ankita Nevatia & Co. Practicing Company Secretaries to undertake theSecretarial Audit of the company. The report of the Secretarial Audit in Form MR 3 for thefinancial year ended March 31 2019 is annexed herewith as Annexure I to this Directors'Report. The Secretarial Audit Report does not contain any qualification reservation andadverse remark.

28. Internal Auditor :

Arun Shrivastav & Co. Practicing Chartered Accountant performed the duties ofInternal Auditors of the Company for 2018-19 and their report is reviewed by the AuditCommittee from time to time.

29. Director's Comment on Auditors Qualification in Auditors Report :

1. By the Statutory Auditors in the Audit Report:

Qualified Opinion:

The company has not prepared Consolidated Financial Statements as requiredunder IND AS-110 (Consolidated Financial Statements) and IND AS-28(Investment inassociates and joint ventures).

The Company holds more than 20% holding in its two group companies. The shares are heldfor sale in near future and hence not accounted for as associates. If the Company heldthese shares as at year end the company shall prepare account for them as associates andthen prepare financials accordingly.

Non- Current Investments includes: o Shares held quoted and inphysical form having market worth Rs. 1.15 Lacs are not held in the name of the Company.This is in contravention to section 187 of the companies Act 2013.

The company is in the process of the converting these shares in the name of the companyat its earliest and then proceed to demat these shares.

Emphasis of Matter a. Maharashtra Industrial Development corporation (MIDC) hasallotted land at Ahmednagar Maharashtra vide agreement dated 16.10.2008 for developmentof Cooperative Housing project. In the absence of permission for construction of shedelectric connection & water connection the project could not be started. The Companyhas taken up the matter with MIDC. The expenses so far incurred is capitalized & shownas Leasehold Land. MIDC has not demanded for lease rental and therefore the same could notbe quantified & provided for / or paid.

Your company is expecting to get the approval soon from MIDC.

b. Case filed by the company before Sessions Judge of civil court against HDFC BankLtd. for Rs 52000/- in relation with dishonor of a cheque by the bank for the saidamount. The amount is to be recovered from HDFC Bank. Confirmation from the party as wellas from HDFC Bank is awaited.

Your company is in rigorous follow up and expecting the decision of your favor.

c. Directors Travelling Expenses has increased from Rs. 0.77 lacs to 12.34 lacs whichincludes foreign travel and expenditures incurred by the Managing Director.

Increase in Travelling Expenses are due to business purpose to explore new businessopportunities.

d. For the purpose of computation of Fair Value us per IND AS 113 the fair value ofunquoted shares has been computed using audited financials as at 31st March 2018 as theaudited financials as at 31st March 2019 were not available.

Your company has tried its best to make available the latest financial for the purposeof determination of Fair Value.

e. The company has given loans to the tune of Rs. 33.06 lacs to the companies in whichdirectors of the company are also directors. The company gives loans to entities in itsordinary course of business activity. Interest has been charged to these entities at ratesas per market standards. The confirmation from these entities has also been received.

Your company charges interest on loans given to anyone whether related or not. TheLoans given are in no ways prejudicial to the interest of your company.

2. By the Secretarial Auditors in the Secretarial Audit Report:

The Auditors' report do not contain any qualifications reservations or adverse remarks

30. Internal Control System

The Company has adequate internal control system to safeguard the Company's assets fromany loss or damage to control cost prevent revenue loss and required financial andaccounting controls and to effectively implement the applicable accounting standards.

31. Risk Management Policy:

In compliance with the applicable provisions of Companies Act 2013 and Regulation 17of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements)Regulations 2015 the Board has framed and adopted the Risk Management Policy of thecompany in order to ensure that the Company's affairs shall be carried out in a sound andprudent manner by managing its business operating and financial risk by adoptingappropriate risk identification assessment control and mitigation measures.

32. Vigil Mechanism/ Whistle Blower Policy:

The Company is committed to adhere to the highest standards of ethical moral and legalconduct of business operations. To maintain these standards the Company encourages itsdirectors and employees who have concerns about suspected misconduct to come forward andexpress these concerns without fear of punishment or unfair treatment. In view of this andin compliance with the applicable provisions of Companies Act 2013 and Regulation 22 ofSEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 the company hasestablished a vigil (Whistle Blower) mechanism for directors and employees to reportconcerns about unethical behaviour actual or suspected fraud or violation of company'scode of conduct or ethics policy. The Whistle Blower shall also have right to access tothe Chairman of the Audit Committee directly in exceptional cases. The Whistle BlowerPolicy is available on our website bkn.bajoriagroup.in

33. Statement on Material Subsidiary:

The Company currently do not have any Material Subsidiary. The Policy on Identificationof Material Subsidiaries is available on our website bkn.bajoriagroup.in

34. Details of policy developed and implemented by the company in its Corporate SocialResponsibility initiatives:

The Company has not developed and implemented any Corporate Social Responsibilityinitiatives as the provisions of Section 135 of the Companies Act 2013 is not applicableto the company.

35. Details of fraud reports by auditors

As specified under Section 143 (12) of Companies (Amendment) Act 2017 including anystatutory amendment or modifications if any the auditor of the company has not reportedany fraud in the course of the performance of his duties as auditor.

36. Particulars on conservation of energy research and development technologyabsorption and foreign exchange earnings and outgo:

(i) Energy Conservation:

Conservation of energy continues to receive increased emphasis and steps are beingtaken to reduce the consumption of energy at all levels. The Company has taken steps toconserve energy in its office use consequent to which energy consumption had beenminimized. No additional Proposals/ Investments were made to conserve energy. Since theCompany has not carried on industrial activities disclosure regarding impact of measureson cost of production of goods total energy consumption etc are not applicable.

(ii) Foreign Exchange Earnings and Outgo:

Rs. in Lacs
Particulars 2019 2018
Earnings - -
Expenditure - -

(iii) Research and Development & Technology Absorption:

The Company has not adopted any technology for its business and hence no reporting isrequired to be furnished under this heading. The Company will adopt necessary technologyas and when required in the furtherance of the business.

37. Extract of Annual Return:

In accordance with Section 134(3)(a) of the Companies Act 2013 the annual return ofthe company as referred in Section 93 (3) has been placed on the website of the companyi.e. bkn.bajoriagroup.in

38. Significant and Material Orders passed by the Regulators or Courts:

There are no significant and material orders passed by the regulators or courts ortribunals impacting the going concern status and Company's operations in future.

39. Disclosure under the Sexual Harassment of Women at workplace (PreventionProhibition and Redressal) Act 2013:

The Company has in place an Anti-Sexual Harassment Committee and Policy in line withthe requirement of the Sexual Harassment of Women at workplace (Prevention Prohibitionand Redressal) Act 2013. All the employees (Permanent Contractual Temporary Trainees)are covered under this policy. During the year under review no complaints were receivedfalling under the category of Sexual Harassment of Women.

40. Maintenance of Cost Records:

The maintenance of Cost Records has not been specified by the Central Government undersub-section (1) of Section 148 of the Act in respect of the activities carried out by thecompany.

41. Material Changes and Commitments affecting the financial position of the companybetween the end of financial year and the date of this report

No material changes and commitments have occurred after the close of the year till thedate of this report which affect the financial position of the company.

42. Cash Flow Statement :

In conformity with the provisions of Regulation 34(2)(c) of the SEBI (LODR)Regulations 2015 and requirements of Companies Act 2013 the Cash flow statement for theyear ended 31st March 2019 is annexed here to as a part of the Financial Statements.

43. Prevention Of Insider Trading

The Company has also adopted a code of conduct for prevention of insider trading. Allthe Directors senior management employees and other employees who have access to theunpublished price sensitive information of the Company are governed by this code. Duringthe year under Report there has been due compliance with the said code of conduct forprevention of insider trading. The Board has already adopted a revised Code of Preventionof Insider Trading based on the SEBI (Prohibition of Insider Trading) Regulations 2015.The same has been placed on the website of the Company bkn.bajoriagroup.in

44. Green Initiative for Paperless Communication

The Ministry of Corporate Affairs (MCA) has taken a “Green Initiative in CorporateGovernance” by allowing paperless compliances by the companies and has issuedcircular stating that service of notice/documents including Annual Report can be sent bye-mail to its members. The move of the Ministry allows public at large to contribute tothe green movement.

Keeping in view the underlying theme the company will continue to send variouscommunications and documents like notice calling general meetings audited financialstatements director's report auditor's report etc. in electronic form to the emailaddress provided by the members to the Depositories or to the company. To support thisgreen initiative in full measure members who have not registered their e-mail addressesso far are requested to register their e-mail addresses in respect of electronicholdings with the Depository through their concerned Depository Participant. Members whohold shares in physical form are requested to fill in the Registration form which can beobtained from Company's Registrar Niche Technologies Private Limited.

45. ACKNOWLEDGEMENT:

The Board of Directors expresses their gratitude and its appreciation to thecooperation and support of the Company's Bankers Government Departments & OtherAgencies. The Board also records its deep appreciation of the creditable services renderedby the Company's employee at all levels.

By order of the Board of Directors

For BEEKAY NIRYAT LIMITED

Sd/- Sd/-
SREE GOPAL BAJORIA PRATAP KUMAR MONDAL
Managing Director Additional Director
(DIN: 01102078) (DIN: 06730854)
Place: Jaipur
Date: 14th August 2019