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Delta Industrial Resources Ltd.

BSE: 539596 Sector: Others
NSE: N.A. ISIN Code: INE681Q01015
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NSE 05:30 | 01 Jan Delta Industrial Resources Ltd
OPEN 7.64
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VOLUME 559
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OPEN 7.64
CLOSE 7.60
VOLUME 559
52-Week high 18.95
52-Week low 7.01
P/E
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Delta Industrial Resources Ltd. (DELTAINDUSTRIAL) - Director Report

Company director report

The Shareholders

Your Directors take pleasure in presenting the 32nd Annual Report on thebusiness and operations of your Company along with the Audited Standalone FinancialStatements for the year ended March 31 2017.

BACKGROUND

Delta Industrial Resources Limited was incorporated under Companies Act 1956 on 19thDecember 1984. Equity Shares of the Company are listed on BSE Limited and MetropolitanStock Exchange of India Limited (MSEI) (formerly known as MCX Stock Exchange Limited).

FINANCIAL SUMMARY/HIGH LIGHTS/PERFORMANCE OF THE COMPANY (STANDALONE)

The Company's financial results are as under:

(Amount in Rs.)
Particular Current Year 2016-17 Previous Year 2015- 16
Revenue from Operations 9640998 68788419
Total revenue (including other income) 12846858 72848118
Total Expenses: 11674822 72595937
Profit before tax 1172036 252182
Tax Expenses:
Less: Current tax (362200) (77900)
Add: Deferred tax 13377 (9313)
Profit after tax 823213 164969

BRIEF DESCRIPTION OF THE COMPANY'S WORKING DURING THE YEAR

The total revenue from operations of your Company for the year ended March 31 2017stood at Rs. 9640998 as against Rs. 68788419 for the year ended March 31 2016. TheProfit before tax stood at Rs. 1172036 as compared to Rs. 252182 in the previous year.The Profit after tax for the year ended March 31 2017 stood at Rs. 823213 as compared toRs. 164969 in the previous year ended March 31 2016.

There has been no change in the business of the Company during the year under review.

STATE OF COMPANY'S AFFAIRS

With the expected positive momentum in the Indian economy the Company is focused ongrowth and achieving profitability along with a renewed commitment to customer service.Innovations investment and positive modifications are expected in the near futureboosting the Company's revenue. Together with forward looking strategy the Company isalso focusing extensively on expanding the business and operational improvements throughvarious strategic projects for operational excellence.

RESERVES

Your Company has not transferred any amount to general reserve out of the profits ofthe year.

DIVIDEND

The Company needs further funds to enhance its business operations to upgrade theefficiency and to meet out the deficiencies in working capital. The Directors thereforedo not recommend any dividend on Equity Shares for the financial year 2016-17.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY

In the opinion of the Board there has been no material changes and commitments ifany affecting the financial position of the Company which have occurred between the endof the financial year of the Company to which the financial statements relate and the dateof the report.

SHARE CAPITAL

During the year under review there is no change in share capital of the Company.

RISK MANAGEMENT

While the business risk associated with operating environment ownership structureManagement System & Policy the financial risk lies in Asset Quality LiquidityProfitability and Capital Adequacy. The company recognizes these risks and makes besteffort to mitigate them in time. Risk Management is also an integral part of the Company'sbusiness strategy.

Business Risk Evaluation and Management is an ongoing process within the Organization.The Company has a robust risk management framework to identify monitor and minimize riskas also identify business opportunities.

INTERNAL CONTROL SYSTEMS

The Company's Internal Control System is designed to ensure operational efficiencyprotection and conservation of resources accuracy and promptness in financial reportingand compliance with laws and regulations. The internal control system is supported by aninternal audit process for reviewing the adequacy and efficiency of the Company's internalcontrols including its systems and processes and compliance with regulations andprocedures.

VIGIL MECHANISM

The Company believes in the conduct of its affairs in a fair and transparent manner byadopting highest standards of professionalism honesty integrity and ethical behaviour.The Company is committed to develop a culture in which every employee feels free to raiseconcerns about any poor or unacceptable practice and misconduct. In order to maintain thestandards has adopted lays down this Whistle Blower Policy to provide a framework topromote responsible and secure whistle blowing. The Board of Directors of your Company hasadopted the Vigil Mechanism and Whistle Blower Policy in compliance of Companies Act2013.

HUMAN RESOURCES

People remain the most valuable asset of your Company. Your Company follows a policy ofbuilding strong teams of talented professionals. Your Company continues to build on itscapabilities in getting the right talent to support different products and geographies andis taking effective steps to retain the talent. It has built an open transparent andmeritocratic culture to nurture this asset.

The Company recognizes people as its most valuable asset and the Company has kept asharp focus on Employee Engagement. The Company's Human Resources is commensurate with thesize nature and operations of the Company.

COMPLIANCE

The Company has complied and continues to comply with all the applicable regulationscirculars and guidelines issued by the Ministry of Corporate Affairs (MCA) StockExchange(s) Securities and Exchange Board of India (SEBI) etc.

The Company has complied with all applicable provisions of Companies Act 2013 ListingAgreement executed with the Stock Exchanges SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 and other applicable rules/regulations/guidelines issuedfrom time to time.

DEPOSITS

During the year under review the Company has not accepted any deposits from the publicunder Section 73 of the Companies Act 2013 and rules made thereunder. There is nounclaimed or unpaid deposit lying with the Company.

DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP):

Board of Directors

1. Designation of Mr. Pawan Kumar Mittal & Ms. Kiran Mittal Directors of theCompany has been changed from Executive Director to Non-Executive director w. e. f May 302016.

2. In accordance with the provisions of 152 and other applicable provisions of theCompanies Act 2013 Ms. Kiran Mittal will retire at the ensuing AGM and being eligibleseek reappointment. The Board recommends her re-appointment.

Key Managerial Personnel (KMP)

1. Ms. Kiran Mittal has resigned from the post of Chief Financial Officer (CFO) of theCompany w. e. f May 30 2016. The Board places on record her profound appreciation for thecontributions made by her during her tenure as CFO of the Company. The Company is lookingfor suitable candidate for the post of CFO of the Company.

2. Mr. Alok Nath Singh has resigned from the post of Company Secretary and ComplianceOfficer of the Company w.e.f May 30 2016. In his place Board of Directors of the Companyhas appointed Ms. Shruti Mittal (Membership No.: ACS 45391) as Company Secretary andCompliance Officer of the Company w.e.f May 30 2016. However Ms. Shruti Mittal hasresigned from the post of Company Secretary and Compliance Officer w.e.f June 02 2016.After that the Board of Directors of the Company has appointed Mr. Alok Nath Singh(Membership No.: ACS A31643) as Company Secretary and Compliance Officer of the Companyw.e.f July 11 2016.

BOARD EVALUATION

The performance of the Board was evaluated by the Board after seeking inputs from allthe directors on the basis of the criteria such as the board composition and structureeffectiveness of board processes information and functioning etc. The performance of thecommittees was evaluated by the board after seeking inputs from the committee members onthe basis of the criteria such as the composition of committees effectiveness ofcommittee meetings etc.

In a separate meeting of independent directors performance of non-independentdirectors performance of the board as a whole and performance of the chairman wasevaluated taking into account the views of executive directors and non-executivedirectors. The same was discussed in the board meeting that followed the meeting of theindependent directors at which the performance of the board its committees andindividual directors was also discussed. Performance evaluation of independent directorswas done by the entire board excluding the independent director being evaluated.

PARTICULAR OF EMPLOYEES AND RELATED DISCLOSURES

The information required under Section 197(12) of the Companies Act 2013 read withrule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules2014 are given below:

i) The ratio of the remuneration of each Director to the median remuneration of theemployees of the Company for the financial year:

Directors Ratio to median remuneration#
Mr. Rohit Mittal N.A
Mr. Pawan Kumar Mittal N.A
Ms. Kiran Mittal N.A
Mr. Jitendra Kumar Agarwal N.A
Mr. Prakash Chand Jajoria N.A
Mr. Prem Prakash Gandhi N.A

# No Remuneration was paid to directors during the year under review except sittingfees.

ii) The percentage increase in remuneration of each Director Chief ExecutiveOfficer Chief Financial Officer Company Secretary or Manager if any in the FinancialYear: No Remuneration was paid to Directors and CFO of the company during the yearunder review and preceding year. Hence percentage increase in remuneration cannot becomputed. W.r.t remuneration to Company Secretary there is no percentage increase inremuneration during the year under review as compared to previous year.

iii) The percentage increase in the median remuneration of employees in thefinancial year: NIL

iv) the number of Permanent employees on the rolls of the company : 2

v) average percentile increase already made in the salaries of employees other thanthe managerial personnel in the last financial year and its comparison with the percentileincrease in the managerial remuneration and justification thereof and point out if thereare any exceptional circumstances for increase in the managerial remuneration: Therewas no increase in the salaries of employees and managerial personnel in the lastfinancial year. Hence the comparison between the two cannot be made.

vi) Affirmation that the remuneration is as per the remuneration policy of thecompany: It is hereby affirmed that the remuneration paid during the year is as perthe Remuneration Policy of the Company.

DISCLOSURE UNDER RULE 5 (2) & (3) OF THE COMPANIES (APPOINTMENT AND REMUNERATION ORMANAGERIAL PERSONNEL) RULES 2014

There is no directors/employees in the Company for which disclosure have to be madeunder the provisions of Rule 5 (2) & (3) of the Companies (Appointment andRemuneration or Managerial Personnel) Rules 2014.

A. Names of top ten employees in terms of remuneration drawn during the financial year2016-17:

Name & Designat ion Age (in Year s) Remunera tion Received Nature of Employmen t (Contract ual or otherwise ) Qualific ation & Experien ce Date of commence ment of Employme nt Last Employ m- Ent %of Equity Share held Whether related to Director or Manager
Alok Nath Singh 28 195750 Regular C.S 11/07/2016 Pract icing Compa ny Secre tary - No
Kuldeep Pandey 25 111857 Regular Graduate 18/07/2 014 N.A. - No

B. Names of employees who are in receipt of aggregate remuneration of not less thanrupees one crore and two lakh if employed throughout the financial year 2016-17:

Name & Designat ion Age (in Year s) Remunera tion Received Nature of Employmen t (Contract ual or otherwise ) Qualific ation & Experien ce Date of commence ment of Employme nt Last Employ m- Ent %of Equity Share held Whether related to Director or Manager
NIL

C. Name of employee whose remuneration in aggregate was not less than eight lakh andfifty thousand per month if employed for part of the financial year 2016-17:

Name & Designat ion Age (in Year s) Remunera tion Received Nature of Employmen t (Contract ual or otherwise ) Qualific ation & Experien ce Date of commence ment of Employme nt Last Employ m- Ent %of Equity Share held Whether related to Director or Manager
NIL

DIRECTOR'S APPOINTMENT AND REMUNERATION POLICY

The Company's policy on directors' appointment and remuneration including criteria fordetermining qualifications positive attributes independence of a director and othermatters provided under sub section (3) of Section 178 of the Companies Act 2013 as isadopted by the Board.

The Company has adopted a comprehensive policy on Nomination and Remuneration ofDirectors on the Board. As per such policy candidates proposed to be appointed asDirectors on the Board shall be first reviewed by the Nomination and RemunerationCommittee in its duly convened Meeting. The Nomination and Remuneration Committee shallformulate the criteria for determining the qualifications positive attributes andindependence of a Director and recommend to the Board a policy relating to theRemuneration for the Directors Key Managerial Personnel and other employees. TheNomination and Remuneration Committee shall ensure that—

a) The level and composition of remuneration is reasonable and sufficient to attractretain and motivate directors of the quality required to run the company successfully;

b) Relationship of remuneration to performance is clear and meets appropriateperformance benchmarks; and

c) Remuneration to directors and senior management involves a balance between fixed andincentive pay reflecting short and long-term performance objectives appropriate to theworking of the company and its goals. During the year under review none of the Directorsof the company receive any remuneration.

STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTOR OF THE COMPANY

All the Independent Directors are well appointed on the Board of Company in compliancewith the Companies Act 2013. The Company has received declarations from all theIndependent Directors of the Company confirming that they meet the criteria ofIndependence under sub-section (6) of section 149 of the Act.

SEPARATE MEETING OF INDEPENDENT DIRECTORS

In due compliance with the provisions of the Companies Act 2013 read with the rulesmade there under a separate meeting of independent directors performance ofnon-independent directors performance of the board as a whole was evaluated taking intoaccount the views of directors and non-executive directors. The same was discussed in theboard meeting that followed the meeting of the independent directors at which theperformance of the Board its committees and individual directors was discussed.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS MADE U/S 186

Details of Loans Guarantees and Investments covered under the provisions of Section186 of the Companies Act 2013 are given in the notes to the Financial Statements.

PARTICULARS OF CONTRACT OR ARRANGEMENT WITH RELATED PARTIES U/S 188

The particulars of contracts or arrangements with related parties referred to insub-section (1) of Section 188 of the Companies Act 2013 is prepared in Form No. AOC-2pursuant to clause (h) of subsection (3) of Section 134 of the Act and Rule 8(2) of theCompanies (Accounts) Rules 2014 and is in Annexure-I to this Report.

MEETINGS

The agenda and Notice for the Meetings is prepared and circulated in advance to theDirectors. The Board of Directors of the Company met Six (6) times during the financialyear 2016-17 i.e. 27th May 2016 30th May 2016 11th July2016 13thAugust2016 14th November2016 and 09th February 2017.

Details of attendance of board meetings by directors of the Company are as follows:

Name of the Director Nos. of meetings attended
Mr. Rohit Mittal 6
Mr. Pawan Kumar Mittal 6
Ms. Kiran Mittal 5
Mr. Jitendra Kumar Agarwal 3
Mr. Prakash Chand Jajoria 5
Mr. Prem Prakash Gandhi 5

Note: Board Meeting held on 27th May2016 was adjourned on 30th May 2016 due tonon finalisation of agenda to be transacted. Attendance of the meeting is calculated afterconsidering the both original and Adjourned Meeting.

The necessary quorum was present in all the meetings. The intervening gap between anytwo meetings was not more than one hundred and twenty days as prescribed by the CompaniesAct 2013.

COMPOSITION/COMMITTEES OF THE BOARD:

AUDIT COMMITTEE:

The Board has constituted an Audit Committee in accordance with the requirement ofCompanies Act 2013 and other applicable provisions. All members of Audit Committee arefinancially literate and 2 Directors out of 3 members have financial management expertise.This Committee comprises of the following Directors as on date:

S. No. Name of the Director Category
1. Mr. Prem Prakash Gandhi (DIN: 07062091) Chairman
2. Mr. Prakash Chand Jajoria (DIN: 07020057) Member
3. Mr. Rohit Mittal (DIN: 02527072) Member

The Audit Committee met Four (4) times during the financial year 2016-17 on May 252016 August 09 2016 November 11 2016 and February 06 2017. Details of attendance ofmeetings of Committee by members are as follows:

Name of the Member Nos. of meetings attended
Prem Prakash Gandhi 4
Prakash Chand Jajoria 4
Kiran Mittal 1
Rohit Mittal 3

* Audit Committee was reconstituted effective from May 30 2016 where Mr. Rohit Mittalwas inducted in place of Ms. Kiran Mittal.

During the year under review the Board accepted all the recommendations made by theAudit Committee of the Board.

NOMINATION AND REMUNERATION COMMITTEE:

The Company had constituted the Nomination and Remuneration Committee to decide and fixpayment of remuneration and sitting fees to the Directors of the Company as per provisionsu/s 178 of the Companies Act 2013. This committee will look after the functions asenumerated u/s 178 of the Companies Act 2013. As on date this Committee comprises of thefollowing Directors as on date:

S. No. Name of the Director Category
1. Mr. Prem Prakash Gandhi (DIN: 07062091) Chairman
2. Mr. Prakash Chand Jajoria (DIN: 07020057) Member
3. Mr. Jitendra Kumar Agarwal(DIN: 00850314) Member

The Nomination and Remuneration Committee met Two (2) times during the financial year2016-17 on May 24 2016 July 09 2016. Details of attendance of meetings of Committee bymembers are as follows:

Name of the Member Nos. of meetings attended
Prem Prakash Gandhi 2
Prakash Chand Jijoria 2
Pawan Kumar Mittal# 1
Jitendra Kumar Agarwal# 1

# Nomination and Remuneration Committee was reconstituted effective from May 30 2016where Mr. Jitendra Kumar Agarwal was inducted in place of Mr. Pawan Kumar Mittal.

STAKEHOLDER RELATIONSHIP COMMITTEE:

The Stakeholder Relationship Committee looks into the redressal of the shareholderscomplaints in respect of any matter including transfer of shares non receipt of annualreport non receipt of declared dividend etc. As on date This Committee comprises of thefollowing Directors as on date:

S. No. Name of the Director Category
1. Mr. Prem Prakash Gandhi (DIN: 07062091) Chairman
2. Mr. Prakash Chand Jajoria (DIN: 07020057) Member
3. Mr. Pawan Kumar Mittal (DIN: 00749265) Member

The Stakeholder Relationship Committee met One (1) times during the financial year2016-17 on April 05 2016. Details of attendance of meetings of Committee by members areas follows:

Name of the Member Nos. of meetings attended
Mr. Prem Prakash Gandhi# 1
Prakash Chand Jajoria 1
Pawan Kumar Mittal 1

AUDITORS

STATUTORY AUDITORS

M/s V.N. Purohit & Co. Chartered Accountants were appointed as Statutory Auditorsof the Company to hold office until the conclusion of the 34th AGM which was subject tothe ratification at every AGM.

As per the provisions of Section 139 of the Companies Act 2013 the appointment ofStatutory Auditors is required to be ratified by members at every Annual General Meeting.Accordingly the appointment of M/s. V.N. Purohit & Co. Chartered Accountants asStatutory Auditor of the Company is placed for ratification by the shareholders.

STATUTORY AUDITORS' REPORT

The Auditors Report has been annexed with this report; Auditors' observations are selfexplanatory which do not call for any further clarifications except the company has notpassed special resolution of members in respect of loans investments guarantees andsecurity given above the limit as prescribed under section 186 of the Companies Act 2013and accordingly has not complied with such provisions;

Response of Board of Directors: With respect to compliance of Section 186 ofCompanies Act 2013 the board assures that it will take necessary steps to comply theprovisions of Section 186 of Companies Act 2013 at the earliest.

SECRETARIAL AUDIT

Pursuant to the provisions of Section 204 of the Companies Act 2013 and the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Board of Directorsof the Company has appointed M/s Akhilesh & Associates Company Secretaries and LawFirms to undertake the Secretarial Audit of the Company for the Financial Year 2016-17.The Secretarial Audit Report is annexed herewith as "Annexure-II".

SECRETARIAL AUDITORS' REPORT

The Secretarial Auditors Report has been annexed with this report. There has been noqualification reservation or adverse remarks made by the Secretarial Auditors in theirreport for the financial year ended 31st March 2017 except that the that

"The Company has not complied with the provision of section 186 of the CompaniesAct 2013 i.e. "the members of the Company has not passed special resolution inrespect of loans investments guarantees and security given above the limit as prescribedunder section 186 of the Companies Act 2013" as marked in the Secretarial AuditReport dated 13th August 2016".

Response of Board of Directors: The Board assures that it will take necessarysteps to comply the provisions of Section 186 of Companies Act 2013 at the earliest.

INTERNAL AUDITORS

Pursuant to the provision of Section 138 of the Companies Act 2013 has mandated theappointment of Internal Auditor in the Company. Accordingly the Board had appointed M/sS.K. Goel & Associates Chartered Accountants as the Internal Auditors of the Companyfor the financial year 2016-17.

EXTRACT OF ANNUAL RETURN

In accordance with Section 134(3)(a) of the Companies Act 2013 an extract of theannual return in Form MGT 9 is annexed herewith as "Annexure III".

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

In view of the nature of the activities carried out by the Company Section 134(3)(m)of the Companies Act 2013 read with Rule 8(3) of the Companies (Accounts) Rules 2014relating to conservation of energy and technology absorption are not applicable to theCompany. However the Company makes all efforts towards conservation of energy protectionof environment and ensuring safety. During the year under review the Company had noearnings and expenditure in foreign exchange.

DIRECTORS RESPONSIBILITY STATEMENT

In terms of Section 134(5) of the Companies Act 2013 your directors hereby confirmthat: (a) in the preparation of the annual accounts for the financial year ended March 312017 the applicable accounting standards have been followed along with proper explanationrelating to material departures; (b) the directors have selected such accounting policiesand applied them consistently and made judgments and estimates that are reasonable andprudent so as to give a true and fair view of the state of affairs of the Company at theend of the financial year and of the profit and loss of the Company for that period; (c)the directors have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 2013 forsafeguarding the assets of the Company and preventing and detecting fraud and otherirregularities; (d) the directors have prepared the annual accounts for thefinancial year ended March 31 2017 on a going concern basis; (e) the directorshave laid down internal financial controls to be followed by the Company and that suchinternal financial controls are adequate and are operating effectively;‘ and (f)the directors have devised proper systems to ensure compliance with the provisions of allapplicable laws and that such systems are adequate and operating effectively.

SUBSIDIARIES JOINT VENTURES OR ASSOCIATE COMPANIES

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

CORPORATE GOVERNANCE

Since the paid- up capital of the Company is less than Rs. 10 Crores and Net worth isless than Rs. 25 Crores the provisions of the Corporate Governance as stipulated underRegulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 are not applicable to the Company. However your Company has made every effort tocomply with the provisions of the Corporate Governance and to see that the interest of theShareholders and the Company are properly served. It has always been the Company'sendeavor to excel through better Corporate Governance and fair & transparentpractices many of which have already been in place even before they were mandated by thelaw of land. The management of Company believes that it will further enhance the level ofCorporate Governance in the Company

CORPORATE SOCIAL RESPONSIBILITY

The Company is not required to spend any amount in respect of Corporate SocialResponsibility as provisions relating to Corporate Social Responsibility under Section 135of Companies Act 2013 is not applicable to Company.

DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITION& REDRESSAL) ACT 2013 READ WITH RULES

Pursuant to the requirements of Section 22 of Sexual Harassment of Women at Workplace(Prevention Prohibition & Redressal) Act 2013 read with Rules there under theCompany has not received any complaint of sexual harassment during the year under review.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS

There has been no significant and material order passed by any regulator courts ortribunals impacting the going concern status and operations of the Company in future.

DISCLOSURE OF FRAUDS IN THE BOARD'S REPORT U/S 143 OF THE COMPANIES ACT 2013

During the year under review your Directors do not observe any transactions whichcould result in a fraud. Your Directors hereby declares that the Company has not beenencountered with any fraud or fraudulent activity during the Financial Year 2016-2017.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Pursuant to Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 a detailed Management Discussion and Analysis Report has been appendedseparately which forms part of this report and the Annual Report.

ACKNOWLEDGMENT

Your Directors wish to express their sincere appreciation for the support andcooperation which the Company continues to receive from its clients Banks GovernmentAuthorities Financial Institutions and associates and are grateful to the shareholdersfor their continued support to the Company. Your Directors place on record theirappreciation for the contributions made and the efforts put in by the management team andemployees of the Company at all levels.

By the order of the Board of Directors of
Delta Industrial Resources Limited
Sd/- Sd/-
Rohit Mittal Pawan Kumar Mittal
Date: 02/09/2017 (Managing Director) (Director)
Place: New Delhi DIN: 025270723 DIN: 00749265

Annexure-I

Form No. AOC-2

(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) ofthe Companies (Accounts) Rules 2014)

Disclosure of particulars of contracts/arrangements entered into by the company withrelated parties referred to in sub-section (1) of section 188 of the Companies Act 2013including certain arms length transactions under third proviso thereto

1. Details of contracts or arrangements or transactions not at arm's length basis: NotApplicable

2. Details of material contracts or arrangement or transactions at arm's length basis

S. No. Name of the Related Party Relationship Amount (Rs.) Nature of Contra cts/ar rangem ents/t ransac tion Durati on of Contra cts/ arrang ements / transa ction Salient terms of the contract or arrangement or transaction s including the value if any
1 Dolf Leasing Limited Enterprises in which Key Managerial Personnel and Relatives are having significant interest 4800000/- Unsecu red Loan Taken Upto One year Unsecured Loan amounting to Rs. 4800000 /- taken
2 . Dolf Leasing Limited 4800000/- Unsecu red Loan Repaid Unsecured Loan amounting to Rs. 4800000/- repaid
3 . Dolf Leasing Limited 207323/- Intere st on Loan paid Interest

Appropriate approvals have been taken for related party transactions. No amount waspaid as advance.

By the order of the Board of Directors of
Delta Industrial Resources Limited
Sd/- Sd/-
Rohit Mittal Pawan Kumar Mittal
Date: 02/09/2017 (Managing Director) (Director)
Place: New Delhi DIN: 025270723 DIN: 00749265