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Epic Energy Ltd.

BSE: 530407 Sector: Engineering
NSE: N.A. ISIN Code: INE932F01015
BSE 11:16 | 15 Jun 3.76 -0.19
(-4.81%)
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3.80

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NSE 05:30 | 01 Jan Epic Energy Ltd
OPEN 3.80
PREVIOUS CLOSE 3.95
VOLUME 10905
52-Week high 6.10
52-Week low 2.50
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.76
Sell Qty 3283.00
OPEN 3.80
CLOSE 3.95
VOLUME 10905
52-Week high 6.10
52-Week low 2.50
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.76
Sell Qty 3283.00

Epic Energy Ltd. (EPICENERGY) - Director Report

Company director report

To

The Members of

EPIC ENERGY LIMITED

Your Directors are pleased to present the 29th Annual Report and theCompany's Audited Financial Statements for the Year ended on March 31 2020.

FINANCIAL RESULTS:

The Company's financial performance for the year ended March 31 2020 is summarisedbelow:

Particulars 2019-20 2018-19
(INR in lakh except EPS) (INR in lakh except EPS)
Total Revenue 173.66 679.55
Operating Profit before Depreciation & Tax 3.31 44.82
Less: Depreciation 37.62 37.88
Profit before exceptional and extraordinary items and Tax (34.31) 6.94
Exceptional Items - -
Profit before tax (34.31) 6.94
Less: Tax expense for earlier Years (Tax disposed off) 1.38 56.16
Net Profit after tax (32.93) 63.10
Other Comprehensive Income / Loss for the year (net of tax) - -
Total Comprehensive Income (32.93) 63.10
Balance of profit and loss account brought Forward (260.14) (323.24)
Less:-Transfer to General Reserve - -
Balance carried to Balance sheet (293.07) (260.14)
Earnings per share (basic/diluted) (0.46) 0.87

Financial highlights

Sales

Your Company posted a turnover of Rs. 173.66 lakh in the financial year ended on 31stMarch 2020 as compared to Rs. 679.55 lakh in the previous year.

Profitability

Your Company's loss before exceptional and extraordinary items and tax for the yearended 31st March 2020 was recorded at Rs. (34.31) lakh as compared to aProfit of Rs. 6.94 lakh in the previous year.

Earnings per share

EPS was at Rs. (0.46) as on 31 March 2020 as against Rs. 0.87 as on 31 March 2019.

Transfer to Reserves

There is no proposed amount to be transferred to the General Reserve.

Net Worth

The Company's net worth as on 31st March 2020 was at Rs. 789.42 lakh as compared toRs. 822.35 lakh as on 31st March 2019.

DIVIDEND:

The Directors do not recommend any dividend for the Financial Year ended on 31stMarch 2020.

REVIEW OF OPERATIONS AND IMPACT OF COVID-19 ON COMPANY:

The COVID-19 pandemic is a global humanitarian and health crisis. The actions taken byvarious governments to contain the pandemic such as closing of borders and lockdownrestrictions resulted in significant disruption to people and businesses.

For the Company the focus immediately shifted to ensuring the health and well-being ofall resources the company closed its office as soon as the lockdown was announced andenabled resources to work from home. For those resources who had to work on site tomaintain essential services the Company issued strict guidelines to observe hygiene andsocial distancing. We are happy to report that we did not have to reduce the strength ofour workforce nor did we have to reduce the salaries of our workers.

We are also proud to inform you that our Project Head Mr Jigar Bhat who is based inAhmedabad was at the forefront of the war against Covid-19. He worked tirelessly as"Deputy Divisional Warden Maninagar" to spread awareness of Covid and enablethe administration to maintain hygiene social distancing guiding immigrant laborersreturning to their hometowns and distributing food to the needy. He was awarded aCertificate of Honor by the Ahmedabad Police a copy of which is printed below.

The Covid19 pandemic has impacted the operations of the company since mid-March. Whilston-going projects have only been marginally impacted due to the steps taken by theCompany new business generation will see some decline in the first half of FY 21. Thecompany's plans to market Energy Efficient fans have been put on hold for the time beingin view of the supply chain disruption. The company is sharpening its focus on LEDretrofitting and is exploring options of participating in Solar EPC projects.

Your company wishes to acknowledge the Bureau of Energy Efficiency's continued effortsto promote energy efficiency in every walk of life which has led to ESCOs gatheringsufficient traction in the Indian Energy Market.

LISTING OF SECURITIES

The Company's Equity Shares are listed on the Bombay Stock Exchange Limited (BSE).

BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

Board Meeting

The Board consisted of four members as on 31st March 2020 three of whomwere Independent Non Executive Directors. Regular meetings of the Board are held at leastonce in a quarter inter-alia to review the quarterly results of the Company. AdditionalBoard meetings are convened to discuss and decide on various business policies strategiesand other Businesses. In view of the pandemic and extant government guidelines BoardMeetings held after the lockdown are being held via video conferencing.

During the year under review Board of Directors of the Company met five times viz 30thMay 2019 17 TH June2019 13th August 2019 11thNovember2019 and 11th February2020.

Committee of Board

Your Company has several Committees which have been established as part of bestcorporate governance practices and are in compliance with the requirements of the relevantprovisions of applicable laws and statutes.

The Company has following Committees of the Board:

Audit Committee

Nomination and Remuneration Committee

Stakeholders' Grievances and Relationship Committee

A detailed note on the committees with respect to composition meeting powers andterms of reference is provided under the Corporate Governance Report section in thisAnnual Report.

Details of Key Managerial Personnel

Mr. Nikhil Morsawala CFO Mr Jigar Bhat Project Head Mr Sandipkumar Gupta CompanySecretary and Mr. Atul Mishra Manager were the Key Managerial Personnel as per theprovisions of the Companies Act 2013.

Nomination and Remuneration Policy

The Company has in order to attract motivated manpower in a competitive market and toharmonise the aspirations of human resources consistent with the goals of the Company andin terms of the provisions of the Companies Act 2013 and the listing agreement as amendedfrom time to time devised a policy on the nomination and remuneration of Directors keymanagerial personnel and senior management.

Key points of the policy are:

A. Policy on appointment of Directors key managerial personnel and senior managementpersonnel

The policy is formulated to identify and ascertain the integrityqualification expertise and experience of the person for appointment as Director KMP andsenior management personnel and recommend to the Board for his/her appointment.

A person should possess adequate qualification expertise and experiencefor the position he/she is considered for appointment.

In case of appointment of Independent Director the Committee shallsatisfy itself with regard to the independent nature of the Director vis--vis theCompany so as to enable the Board to discharge its function and duties effectively.

B. Policy on remuneration of Director key managerial personnel and senior managementpersonnel. The Company's remuneration policy is driven by the success and performance ofthe Director KMP and Senior Management Personnel vis--vis the Company. The Company'sphilosophy is to align them and provide adequate compensation with the Objective of theCompany so that the compensation is used as a strategic tool that helps us attract retainand motivate highly talented individuals who are committed to the core value of theCompany. The Company follows a combination of fixed pay benefits and performance-basedvariable pay. The Company pays remuneration by way of salary benefits perquisites andallowance. The remuneration and sitting fees paid by the Company are within the salaryscale approved by the Board and Shareholders.

Board Evaluation

Clause 49 of the Listing Agreement mandates that the Board shall monitor and review theBoard evaluation framework. The Companies Act 2013 states that a formal annual evaluationneeds to be made by the Board of its own performance and individual Director. Schedule IVof the Companies Act 2013 states that the performance evaluation of independent directorsshall be done by the entire Board of Directors excluding the director being evaluated. Astructured questionnaire was prepared after taking into consideration of the variousaspects of the Board's functioning composition of the Board and Committees cultureexecution and performance of specific duties obligation and governance.

The evaluation of all the directors and the Board as a whole was conducted based on thecriteria and framework adopted by the Board. The Board approved the evaluation results assuggested by the Nomination and Remuneration Committee. The performance evaluation of theIndependent Directors was completed. For the year under review the Independent Directorsmet on 29th June 2020 interalia to discuss:

Performance evaluation of Independent Directors and Board of Directors asa whole;

Performance evaluation of the Chairman of the Company;

Evaluation of the quality of the flow of information between theManagement and Board for effective performance by the Board. The Board of Directorsexpressed their satisfaction with the evaluation process.

PUBLIC DEPOSITS

During the period under review the Company has not accepted or renewed any depositsfrom shareholders and public falling within the ambit of Section 73 of the Companies Act2013 and rules made thereunder.

SHARE CAPITAL

The paid-up equity share capital as at 31stMarch 2020 stood at Rs.72115000. Policies

We seek to promote and follow the highest level of ethical standards in all ourbusiness transactions guided by our value system. The SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 mandated the formulation of certain policiesfor all listed companies. The policies are reviewed periodically by the Board and updatedbased on need and new compliance requirements.

VIGIL MECHANISM

The Company has established a vigil mechanism and accordingly framed a Whistle BlowerPolicy. The policy enables the employees to report instances of unethical behavior actualor suspected fraud or violation of Company's Code of Conduct to the management. Furtherthe mechanism adopted by the Company encourages the Whistle Blower to report genuineconcerns or grievances and provide for adequate safeguards against victimization of theWhistle Blower who avails of such mechanism and also provides for direct access to theChairman of the Audit Committee in exceptional cases. The functioning of vigil mechanismis reviewed by the Audit Committee from time to time. No whistle blower has been deniedaccess to the Audit Committee of the Board.

SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

There were no incidences of sexual harassment reported during the year under review interms of the provisions of the Sexual Harassment of Women at Workplace (PreventionProhibition and Redressal) Act 2013.

CORPORATE GOVERNANCE

Pursuant to Regulation 34(3) and Schedule V of SEBI (LODR) Regulations 2015 aseparate report on Corporate Governance and a certificate from the Auditors of the Companyare annexed to the Directors' Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Your attention is drawn to the perception and business outlook of your management foryour company for current year and for the industry in which it operates including itsposition and perceived trends in near future. The Management Discussion and AnalysisReport as required under Clause 49 of the Listing Agreement with the Stock Exchange isattached and forms part of this Directors' Report.

RISK MANAGEMENT POLICY:

The Company has developed and implemented a risk management policy which identifiesmajor risks which may threaten the existence of the Company. The same has also beenadopted by your Board and is also subject to its review from time to time.

OTHER DISCLOSURES AS PER SECTION 134 OF THE COMPANIES ACT 2013

a) There are no qualifications reservations or adverse remark or disclaimer bythe Statutory Auditor or by Secretarial Auditor in their respective reports.

b) Except for the effect of Covid pandemic and consequent lockdown resulting ina severe slowdown in the economy which has been explained abovethere are no materialchanges and commitments affecting the financial position of the Company which haveoccurred between the end of the financial year of the Company to which the financialstatements relate and the date of the report.

c) Extract of the Annual Report as provided in sub-section 3 of section 92which is given in Annexure I forming part of this report.

Key Financial Ratios :

In accordance with the SEBI (Listing Obligations and Disclosure Requirements 2018)(Amendment) Regulations 2018 the Company is required to give details of significantchanges (change of 25% or more as compared to the immediately previous financial year) inkey financial ratios.

Particulars 2019-20 2018-19
Debtor Turnover Ratio 2.03 7.19
Inventory Turnover Ratio 3.96 13.20
Current Ratio 1.20 1.30
Operating Profit Margin (%) 1.90 6.60
Net Profit Margin (%) (18.97) 9.29

The Company has identified the above ratios as key financial ratios:

The Company planned to combat the slowdown in the pre-covid economy by sharpening itsfocus on the LED retrofitting business. There is therefore a change of 25% or more ascompared to the immediately previous financial year in some key financial ratios. Thesharpened focus and the consequent reduction in exposure to unstable market forces is nowfortuitously helping the Company to tide over the post-pandemic economic havoc that isbeing seen on the MSME sector. We are happy to report that we did not have to reduce thestrength of our workforce nor did we have to reduce the salaries of our workers.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Information relating to conservation of energy technology and foreign earning andoutgo as required under Section 134(3) (m) of the Companies Act 2013 forms part of thisDirectors' Report as Annexure III.

PARTICULAR OF EMPLOYEES PARTICULARS OF EMPLOYEES PURSUANT TO SECTION 134(3) OF THECOMPANIES (AMENDMENT) ACT 2017 READ WITH RULE 5(1) OF THE COMPANIES (APPOINTMENT ANDREMUNERATION OF MANAGERIAL PERSONNEL) AMENDMENT RULES 2016

The information required in terms of Section 134(3) of the Companies (Amendment) Act2017 read with Rule 5(1) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Amendment Rules 2016 is furnished hereunder:

i) The ratio of the remuneration of Director to the median remuneration of theemployees of the Company: Not Applicable

ii) The percentage increase in remuneration of CFO CS during the financialyear: NIL

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

iv) The number of permanent employees on the rolls of company at the end of thefinancial year 2019-20 is 5

v) It is hereby affirmed that the remuneration of KMP's are in accordance withthe Remuneration Policy.

Name Designation Remuneration Paid FY 2019-20 (` in lakh) Remuneration Paid FY 2018-19 (` in lakh) Percentage Increase in remuneration Ratio per Median of Employee Remuneration
1 Mr Nikhil Morsawala CFO - - - -
2 Ms Rashi Mirani Company Secretary - 1.44 - -
3 Mr Sandipkumar Gupta Company Secretary 3.58 - - -
4 Mr Atul Mishra Manager 6.02 - - -

INTERNAL FINANCIAL CONTROL SYSTEMSAND THEIR ADEQUACY

Your Company has laid down the set of standards processes and structure which enablesit to implement internal financial control across the organisation and ensure that thesame are adequate and operating effectively. To maintain the objectivity and independenceof internal audit the Internal Auditor reports to the Chairman of the Audit Committee ofthe Board.

The Internal Auditor monitors and evaluates the efficacy and adequacy of internalcontrol systems in the Company its compliance with the operating systems accountingprocedures and policies of the Company.

Based on the report of Internal Auditor the process owners undertake the correctiveaction in their respective areas and thereby strengthen the control. Significant auditobservation and corrective actions thereon are presented to the Audit Committee of theBoard.

AUDITORS

Under Section 139 of the Companies Act 2013 and the Rules made thereunder it ismandatory to rotate the statutory auditors on completion of the maximum term permittedunder the provisions of Companies Act 2013. In line with the requirements of theCompanies Act 2013. M/s. P C N & Associates Chartered Accountants (Firm RegistrationNo. 016016S) be appointed as statutory auditors of the Company in place of retiringauditors P. MURALI & CO Chartered Accountants (Firm Registration No. 007257S) tohold office from the conclusion of this 29th AGM until the conclusion of the 34th AGMsubject to ratification by members every year as applicable at such remuneration and outof pocket expenses as may be decided by the Board of Directors of the Company.

The Report of the Auditors on the Accounts of the Company is attached herewith beingself explanatory does not need further elaboration.

Secretarial Auditor and their report

To discuss Pursuant to the provisions of Section 204 of the Companies Act 2013 and TheCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 your Companyhad appointed Mr. VIJAY TIWARI Practicing Company Secretary to undertake the SecretarialAudit of the Company for the FY 2019-20. The Secretarial Audit Report for the FY 2019-20is annexed to this Directors' Report as Annexure-IV.

Directors' Qualification Certificate

In terms of SEBI (LODR) Regulations 2015 a certificate from Mr. Vijay TiwariPracticing Company Secretary has been received stating that none of the Directors on theboard of the company have been debarred or disqualified from being appointed or continuingas directors of company by the Board/Ministry of Corporate Affairs or any such statutoryauthority and the same is annexed to this report.

Disclosure of transactions of the listed entity with any person or entity belonging tothe promoter/promoter group which hold(s) 10% or more shareholding in the listed entity

During the financial year 2019-20 no such transaction took place with any person orentity belonging to the promoter/ promoter group which hold(s) 10% or more shareholding inthe listed entity.

Corporate Social Responsibility

Subject to the provisions of Section 135 of the Companies Act 2013 read with theCompanies (Corporate Social Responsibility Policy) Rules 2015 the Company is notmandatorily required to undertake CSR initiatives.. The report of the CSR activities isnot applicable to the Company.

DONATION:

During the year the Company has not given donation to any charitable trust.

DECLARATION ABOUT INDEPENDENT DIRECTORS UNDER SUB-SECTION 6 OF SECTION 149:

The Company has received the declarations from Independent Directors that they meet thecriteria of independence laid down under section 149(6) of the Companies Act 2013 andunder regulation 16(b) of SEBI (LODR) Regulations 2015.

DIRECTORS' RESPONSIBILITY STATEMENT

As stipulated in Section 134(5) of the Companies Act 2013 Directors subscribe to the"Directors' Responsibility Statement" and confirm that:

a) In preparation of annual accounts for the year ended 31st March2020 the applicable accounting standards have been followed and no material departureshave been made from the same;

b) The Directors have selected such accounting policies and applied themconsistently and made Judgments and estimates that are reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial year and of the profit or loss of the Company for that year;

c) The Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act 2013for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities;

d) The Directors have prepared the annual accounts for the year ended 31stMarch 2020 on a going concern basis.

e) The Directors have laid down the internal financial controls to be followedby the Company and that such internal financial controls are adequate and were operatingeffectively; and

f) The Directors have devised proper systems to ensure compliance with theprovisions of all applicable laws and that such systems are adequate and operatingeffectively.

AUDITORS' REPORT

The Auditors' Report on the accounts of the Company for the accounting year ended 31stMarch 2020 is self-explanatory and does not call for further explanations or commentsthat may be treated as adequate compliance of Section 134 of the Companies Act 2013.

GENERAL

Your Directors state that no disclosure or reporting is required in respect of thefollowing items as there were no transactions on these items during the year under review:

1. Issue of equity shares with differential rights as to dividend voting orotherwise.

2. Issue of shares (including sweat equity shares) to employees of the Companyunder any ESOS scheme.

3. The Company does not have a Managing Director or any subsidiaries and assuch the question of the Managing Director of the Company receiving any remuneration orcommission from any of its subsidiaries does not arise.

4. No significant or material orders were passed by the Regulators or Courts orTribunals which impact the going concern status and Company's operations in future.

ACKNOWLEDGEMENT

Your Directors express their appreciation for the assistance and cooperation receivedfrom its Bankers various government authorities customers vendors and members duringthe year under review. Your Directors also wish to place on record their deep sense ofappreciation for the committed services by the executives staff and workers of theCompany.

FORM NO. MGT 9

Extract of Annual Report As on financial year ended on 31.03.2018 ANNEXURE I

Pursuant to Section 92 (3) of the Companies Act 2013 and rule 12(1) of the Company(Management & Administration) Rules 2014.

I. REGISTRATION & OTHER DETAILS:
1 CIN L67120MH1991PLC063013
2 Registration Date 28/09/1991
3 Name of the Company EPIC ENERGY LIMITED
4 Category/Sub-category of the Company Public Limited Company
5 Address of the Registered office & contact details Office No. 1 Ground Floor "SUNSHINE WILLOWS" Plot No. 18
Sector-8 GhansoliNavi Mumbai-400701
Phone: 022 8419988262
6 Whether listed company Listed Company
7 Name Address & contact details of the Registrar & Transfer Agent if any. Adroit Capital Services Private Ltd.
17-20 Jafferbhoy Industrial
Estate Makhwana Rd 400059
Marol Andheri East Mumbai
Maharashtra 400059
Phone: 022 4227 0400

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

(All the business activities contributing 10 % or more of the total turnover of thecompany shall be stated)

Name and Description of main products / services NIC Code of the Product/service % to total turnover of the company
1 Energy Saver & Renewable Energy Saving Appliances 31200 100%
2 Other Income - -

III.PARTICULARS OF HOLDING SUBSIDIARY AND ASSOCIATE COMPANIES

The company does not have any holding subsidiary and associate company

Name and address of the Company CIN/GLN Holding/ Subsidiary/ Associate % of shares held Applicable Section
1 NIL NIL NIL NIL

Shareholding Pattern (Equity Share Capital Breakup as Percentage of Total Equity) EPICENERGY LTD - 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

Demat Physical Total % of Total Shares Demat Physical Total % of Total Shares % Change during the year
A. Promoters
(1) Indian
a) Individual/HUF - - - - - - - - -
b) Central Govt. - - - - - - - - -
c) State Govt(s) - - - - - - - -
d) Bodies Corp. - - - - - - - - -
e) Banks /FI - - - - - - - - -
f) Any other
f-1) DIRECTORS

837965

-

837965

11.62 837965 - 837965 11.62 -
f-2) DIRECTORS RELATIVES

840100

-

840100

11.65 840100 - 840100 11.65 -
Total Shareholding of promoter (A)

1678065

-

1678065

23.27 1678065 - 1678065 23.27 -
B.Public Shareholding
(1) Institutions
a) Mutual Funds - - - - - - - - -
b) Banks / FI - - - - - - - - -
c) Central Govt. - - - - - - - - -
d) State Govt(s) - - - - - - - - -
e) Venture Capital Funds - - - - - - - - -
f) Insurance Companies - - - - - - - - -
g) FIIs - - - - - - - - -
h) Foreign Venture Capital Funds - - - - - - - - -
i) Others (Specify) - - - - - - - - -
Sub-total (B) (1) - - - - - - - - -
(2) Non – Institutions
a) Bodies Corp.
i) Indian

520640

6200

526840

7.31 727668 6200 733868 10.18 2.87
ii) Overseas - - - - - - - - - - -
b) Individuals -
i) Individual shareholders holding nominal share capital upto Rs.1 lakh 1091922 333835 1425757 19.77 1096344 333335 1429679 19.82 0.05
ii) Individual shareholders holding nominal share capital in excdess of Rs.1 lakh 3479713 46200 3525913 48.89 3268868 46200 3315068 45.97 (2.92)
c) Others (Specify)
c-1) NON RESIDENT INDIANS(INDIVIDUALS)

54790

-

54790

0.76 87720 - 56790 0.76 0.00
c-2) CLEARING MEMBER 135 - 135 0 26 - - 0.00 0.00
Sub-total (B)(2)

5147200

386735

5533435

76.73 5146800 386635 5533435 76.73 0.00
Total Public Shareholding(B)= (B)(1)+(B)(2)

5147200

386235

5533435

76.73 5146800 386635 5533435 76.73 0.00
C. Shares held by Custodian for GDRs & ADRs.
Promoter and Promoter Group - - - - - - - - -
Public - - - - - - - - - -
Sub-total (C) - - - - - - - - -
Grand Total (A+B+C)

6825265

386235

7211500

100.00 6825765.0 385735.0 7211500.0 100.00 0.00

Shareholding of Promoters

No. of Shares held at the beginning of the year No .of Shares held at the end of the year
Shareholder's Name No. of Shares % of total Shares %of Shares Pledged No. of Shares % of total Shares %of Shares Pledged % Change during the year
1 MORSAWALA NIKHIL CHAMPAKLAL 837965 11.62 - 837965 11.62 - -
2 MORSAWALA VEENA NIKHIL 840100 11.65 - 840100 11.65 - -
TOTAL 1678065 23.27 - 1678065 23.27 - -

Change in Promoters' Shareholding ( please specify if there is no change)

No.of Shares held at the beginning of the

Cumulative Shareholding during

Name of Promoter's As On Date No. of Shares % of total shares No. of shares % of Total Shares
1 At the beginning of the year MORSAWALA NIKHIL CHAMPAKLAL 01/04/2019 837965 11.62 837965 11.62
At the End of the year No change during the year 31/03/2020 - - 837965 11.62
2 At the beginning of the year MORSAWALA VEENA NIKHIL 01/04/2019 840100 11.65 840100 11.65
At the End of the year No change during the year 31/03/2020 - - 840100 11.65

Shareholding Pattern of top ten Shareholders (other than Directors Promoters andHolders of GDRs and ADRs):

No.of Shares held at the beginning of the

Cumulative Shareholding during

Sl No. For Each of the Top 10 Shareholders Name of Shareholder's As On Date No. of Shares % of Total Shares No. of shares % of total shares
1 At the beginning of the year BEHRAM BURJOR MEHTA 01/04/2019 1000000 13.87 1000000 13.87
At the End of the year 31/03/2020 - - 1000000 13.87
No change during the year
2 At the beginning of the year CHANDRASHEKHAR VIJAY LAD 01/04/2019 692288 9.60 692288 9.60
At the End of the year 31/03/2020 - - 692288 9.60
No change during the year
3 At the beginning of the year RACHNA BANSAL 01/04/2019 330000 4.58 330000 4.58
At the End of the year 31/03/2020 (330000) 4.58 - -
change during the year
4 At the beginning of the year GLOBE CAPITAL MARKET LIMITED 01/04/2019 303973 4.22 303973 4.22
At the End of the year 31/03/2020 - - 303973 4.22
No change during the year
5 At the beginning of the year ASHISH SARAF. 01/04/2019 - - - -
At the End of the year 31/03/2020 300000 4.16 300000 4.16
change during the year
6 At the beginning of the year RAJIV KUMAR BANSAL 01/04/2019 197445 2.74 197445 2.74
At the End of the year 31/03/2020 (197445) 2.74 - -
change during the year
7 At the beginning of the year GUARDIAN PORTFOLIO CONSULTANTS PVT LTD 01/04/2019 - - - -
At the End of the year 31/03/2020 197445 2.74 197445 2.74
change during the year
8 At the beginning of the year RAJ KUMAR LOHIA 01/04/2019 156394 2.17 156394 2.17
At the End of the year 31/03/2020 - - 156394 2.17
No change during the year
9 At the beginning of the year RAJ KUMAR LOHIA H.U.F 01/04/2019 119150 1.65 119150 1.65
At the End of the year 31/03/2020 - - 119150 1.65
No change during the year
10 At the beginning of the year SONAL LOHIAI 01/04/2019 113256 1.57 113256 1.57
At the End of the year 31/03/2020 - - 113256 1.57
No change during the year

Shareholding of Directors and Key Managerial Personal

Shareholding at the beginning of the year Cumulative Shareholding during the year
Name of Shareholder's As On Date No. of Shares % of total shares of the company No. of shares % of total shares of the company
At the beginning of the Year
1 MORSAWALA NIKHIL CHAMPAKLAL 01/04/2019 837965 11.62
31/03/2020 837965 11.62
2 MORSAWALA VEENA NIKHIL 01/04/2019 840100 11.65
31/03/2020 840100 11.65

V. INDEBTEDNESS

The Company has no debts at the beginning of the financial year during the year and atthe end of the financial year.

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL-

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

Sr. No. Particulars of Remuneration Name of MD/WTD/ Manager Total Amount
1 Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act 1961 -
(b) Value of perquisites u/s 17(2) of the Income-tax Act 1961 -
(c) Profits in lieu of salary under section 17(3) of the Income- tax Act 1961 - -
2 Stock Option - -
3 Sweat Equity - -
-
4 Commission
- as % of profit - -
- others specify… - -
5 Others please specify - -
Total (A)
Ceiling as per the Act

B. Remuneration to other directors (in lakh)

Sr. No. Particulars of Remuneration

Name of Directors

Total
Mr. Bharat Mehta Mr. Sanjay Gugale Mr. Brian Dsouza Mrs. Veena Morsawala Amount
Independent Non – Executive Directors

Non – Executive Directors

1 Independent Non-Executive Directors
Fee for attending board & committee meetings 3.00 3.00
Commission - - - - - - -
Others please specify - - - - - - -
Total (1) 3.00 - - - - - -
2 Non-Executive Directors
Fee for attending board committee meetings - - - - - -
Commission - - - - - - -
Others please specify - - - - - - -
Total (2) - - - - - -
Total (B)=(1+2) 3.00 - - - - - 3.00

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

(in lakh)

Sr. No. Particulars of Remuneration

Key Managerial Personnel

Sandip Gupta Nikhil Morsawala Atul Mishra
CS CFO MANAGER
1 Gross salary 3.58 - 6.02
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act 1961 3.58 6.02
(b) Value of perquisites u/s 17(2) of the Income-tax Act 1961 -
(c) Profits in lieu of salary under section 17(3) of the Income-tax Act 1961 - - -
2 Stock Option - - -
3 Sweat Equity - - -
4 Commission - - -
- as % of profit - - -
others specify… - - -
5 Others please specify - - -
Total 3.58 - 6.02

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

No such Penalties or Punishment or Compounding of offence was there during theFinancial Year 2019-20 under Companies Act 2013.