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Fast Track Entertainment Ltd.

BSE: 532084 Sector: Media
NSE: N.A. ISIN Code: INE074D01037
BSE 00:00 | 16 Feb Fast Track Entertainment Ltd
NSE 05:30 | 01 Jan Fast Track Entertainment Ltd
OPEN 1.80
PREVIOUS CLOSE 1.80
VOLUME 10000
52-Week high 1.80
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 1.80
Sell Qty 50.00
OPEN 1.80
CLOSE 1.80
VOLUME 10000
52-Week high 1.80
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 1.80
Sell Qty 50.00

Fast Track Entertainment Ltd. (FASTTRACKENT) - Chairman Speech

Company chairman speech

ANNEXURE A OF BOARD REPORT

Form No. MR-3

For the financial year ended on 31st March 2018

[Pursuant to section 204(1) of the Companies Act 2013 and rule No. 9 of the Companies(Appointment and Remuneration Personnel) Rules 2014]

To

The Members

FAST TRACK ENTERTAINMENT LTD.

VADODARA(GUJ.)

I have conducted the secretarial audit of the compliance of applicable statutoryprovisions and the adherence to good corporate practices by FAST TRACK ENTERTAINMENTLTD. (hereinafter called the company). Secretarial Audit was conducted in a mannerthat provided me a reasonable basis for evaluating the corporate conducts/statutorycompliances and expressing my opinion thereon.

Based on my verification of the Company’s books papers minute books forms andreturns filed and other records maintained by the company and also the informationprovided by the Company its officers agents and authorized representatives during theconduct of secretarial audit I hereby report that in my opinion the company has duringthe audit period covering the financial year ended on 31 March 2018 complied withthe statutory provisions listed hereunder and also that the Company has properBoard-processes and compliance-mechanism in place to the extent in the manner and subjectto the reporting made hereinafter:

I have examined the books papers minute books forms and returns filed and otherrecords maintained by the Company for the financial year ended on 31 March 2018 accordingto the provisions of:

(i) The Companies Act 2013 (the Act) and the Rules made there under and Companies Act1956 and Rules made there under to the extent applicable excep following

- U/s 203 of the Co.Act 2013 no CFO and company secretary has been appointed bythe company during the audit period.

- U/s 138 read with Rule 13 of Co. (Accounts) Rules 2014 no internal auditorhas been appointed by the company however the company is under process to appoint thesame.

- Certain Forms have not been filed by the company till 31.03.2018 which wererequired to be filed with respective ROC during the audit period.

(ii)The Securities Contracts (Regulation) Act 1956 (‘SCRA’) and the Rulesmade there under;

(iii) The Depositories Act 1996 and the Regulations and Bye-Laws framed there under;

(iv) Foreign Exchange Management Act 1999 and the Rules and Regulations made thereunder. (not applicable to the company during the audit period)

(v) The following Regulations and Guidelines prescribed under the Securities andExchange Board of India Act 1992 (‘SEBI Act’) :-

(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares andTakeovers) Regulations 2011;

(b) The Securities and Exchange Board of India (Prohibition of Insider Trading)Regulations 1992;

(c) The Securities and Exchange Board of India (Issue of Capital and DisclosureRequirements) Regulations 2009; (not applicable to the company during the auditperiod) ;

(d) The Securities and Exchange Board of India (Employee Stock Option Scheme andEmployee Stock Purchase Scheme) Guidelines 1999; (not applicable to the companyduring the audit period) ;

(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities)Regulations 2008; (not applicable to the company during the audit period);

(f) The Securities and Exchange Board of India (Registrars to an Issue and ShareTransfer Agents) Regulations 1993 regarding the Companies Act and dealing with client;

(g) The Securities and Exchange Board of India (Delisting of Equity Shares)Regulations 2009; (not applicable to the company during the audit period);

(h) The Securities and Exchange Board of India (Buyback of Securities) Regulations1998 (not applicable to the company during the audit period);

(vi) We have relied on the representations made by the Company and its officers forsystems and mechanism formed by the Company for compliances under other applicable ActsLaws and Regulations to the Company. The company is engaged in trading activities hence nospecific Acts applicable to the company.

I have also examined compliance with the applicable Clauses of the following:

(i) Secretarial Standards on Meeting of Board of Directors and Secretarial Standards onGeneral Meetings issued by The Institute of Company Secretaries of India.

(ii) The Securities and Exchange Board of India (Listing Obligations and Disclosurerequirements) Regulations 2015 except ;

The company has not complied with certain clauses of LODR2015 as regards publicationof results intimation of resignation and appointment of directors etc. etc. The web siteof the company is not up to date and the scrip of the company has been suspended by BSE.No listing fees has been paid by the company to BSE.

During the period under review the Company has complied with the provisions of the ActRules Regulations Guidelines Standards etc. mentioned above and subject to my commentwherever it was required.

I further report that :

The Board of Directors of the Company is duly constituted with proper balance ofExecutive Directors Non-Executive Directors and Independent Directors. The changes in thecomposition of the Board of Directors that took place during the period under review werecarried out in compliance with the provisions of the Act.

Adequate notice is given to all the directors to schedule the Board Meetings agendaand detailed notes on agenda were sent at least seven days in advance and a system existsfor seeking and obtaining further information and clarifications on the agenda itemsbefore the meeting and for meaningful participation at the meeting.

Majority decision is carried through while the dissenting members’ views arecaptured and recorded as part of the minutes.

I further report that :

There are adequate systems and processes in the company commensurate with the sizeand operations of the company to monitor and ensure compliance with applicable LawsRules Regulations and guidelines.

I further report that :

During the audit period there were no instances of:

(i) Public/Rights/Preferential issue of Shares/debentures/ sweat equity.

(ii) Redemption/buy-back of securities.

(iii) Merger/ amalgamation/ reconstruction etc.

(iv) Foreign technical collaborations.

Lastly the company is suspended from BSE/ASE/VSE . Further the company is presentlyengaged in Misc. trading activities including share trading business hence no specificACTS/REGULATIONS are required to be complied with.

For Ramesh Chandra Bagdi & Associates

Company secretaries

CS Ramesh Chandra Bagdi

Proprietor

FCS: 8276 C P No 2871

Place : Indore

Dated : 13th August 2018

Note: This report is to be read with our letter of even date which is annexed asAnnexure herewith and forms and integral part of this report.

ANNEXURE to Secretarial Audit Report

To

The Members

FAST TRACK ENTERTAINMENT LTD.

VADODARA(GUJ.)

Our report of even date is to be read along with this letter.

1. Maintenance of secretarial records is the responsibility of the management of theCompany. Our responsibility is to express an opinion on these secretarial records based onour audit.

2. We have followed the audit practices and processes as were appropriate to obtainreasonable assurance about the correctness of the contents of the secretarial records. Theverification was done on test basis to ensure that correct facts are reflected insecretarial records. We believe that the processes and practices we followed provide areasonable basis for our opinion.

3. We have not verified the correctness and appropriateness of financial records andBooks of Accounts of the Company.

4. Wherever required we have obtained the Management representations about thecompliance of Laws Rules and Regulations and happening of events etc.

5. The compliance of the provisions of corporate and other applicable Laws RulesRegulations Standards is the responsibility of management. Our examination was limited tothe verification of procedures on test basis.

6. The Secretarial Audit report is neither an assurance as to the future viability ofthe Company nor of the efficacy or effectiveness with which the management has conductedthe affairs of the Company.

For Ramesh Chandra Bagdi & Associates

Company secretaries

CS Ramesh Chandra Bagdi

Proprietor

FCS: 8276 C P No 2871

Place : Indore

Dated : 13th August 2018