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Filtra Consultants & Engineers Ltd.

BSE: 539098 Sector: Engineering
NSE: N.A. ISIN Code: INE541R01019
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VOLUME 9000
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P/E 10.22
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OPEN 16.25
CLOSE 16.25
VOLUME 9000
52-Week high 20.95
52-Week low 8.10
P/E 10.22
Mkt Cap.(Rs cr) 13
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Filtra Consultants & Engineers Ltd. (FILTRACONSULT) - Director Report

Company director report

To

The Members

Filtra Consultants and Engineers Limited

Your Directors are presenting herewith the 10th Annual Report of the Companyand the Standalone and consolidated Audited Financial Statement for the financial yearended March 31 2021 together with the Auditor's Reports thereon.

1. Financial Results:

The summarized financial results for the financial year ending March 31 2021 arehighlighted as under:

(Amount in Rs Thousands)

Particulars March 31 2021 March 31 2020
Total Income 567950.71 561536.10
Less: Total Expenses excluding Depreciation 547670.49 537969.22
Profit/ (Loss) before Depreciation and Tax 20280.22 23566.89
Less: Depreciation 1624.99 1622.97
Profit/ (Loss) before Tax 18655.23 21943.92
Less: Tax Expenses 5549.99 5224.57
Profit/ (Loss) after tax 13105.24 16719.35

2. Brief description of the Company's working during the year/State of Company'saffairs and Operational Results:

The Company is trading in various water treatment products such as Multiport ValvesDosing System Electronic dosing pump Pressure Vessels Conductivity Meters Rota Metersetc. Your Company is one stop solution for all water treatment components providing widerange of components and spares gives advantage and freedom to the clients to chooseproducts and spares parts as per their requirement. In addition to that the Company alsoassemble the parts and sale the customized products as per the customer's needs. TheCompany runs business through it's various branches as well as through it's online portalwhere products are sold on B2B basis.

The total income of the Company increased to Rs. 567950.71/- thousand from Rs.561536.10/- thousand registering a marginal growth of 1.14%. Net profits after tax("PAT") of the Company stood at Rs.13105.24/- thousand in the F.Y.2020-21 as against Rs. 16719.35/- thousand in the F.Y. 201920 recording an decrease of21.62%. The reason of the decrease in profit is due to changes in inventory and increasein other expenses due to COVID 19.

The Management is taking efforts to increase the revenue and to give better results incoming years by introducing new technologically advanced products at competitive rates.Also by venturing into new market and area.

3. Change in the nature of business if any:

The Company is in the business of selling water treatment products and provides therelated services. There was no change in nature of business during the period underreport.

4. Reserves:

The Board does not propose to carry any amounts to reserves.

5. Dividend:

To conserve resources for future and keeping in mind the present pandemic situationyour Directors do not recommend any dividend for the financial year under review.

6. Annual Return:

Pursuant to Section 92(3) and 134(3)(a) of the Companies Act 2013 read with Rule 12(1)of the Companies (Management and Administration) Rules 2014 the Annual Return is placedon website of the Company and which shall be treated as part of this Report. The link isas follows:https://www.filtra.in/upload/investment/1630912245.Filtra_Consultants_Form_MGT_7_2020-21.pdf

7. Details of Subsidiary/Joint Ventures/Associate Companies:

During the year under review the Company had two Subsidiary Companies viz. Of WaterPrivate Limited and Innovative Technocare Private Limited. However the Company did nothave any Joint Venture or Associate Company during the year under review. The details ofthe performance of the said Subsidiaries are as follows:

a) Of Water Private Limited:

Of Water Private Limited has not started operation during the year under report. Sincethe Management of the Company had tried all the options to start the business operationbut could not succeed it has proposed to close down the Company. After review of theproposal the Board of Directors of our Company has approved (in the capacity ofshareholders) closure of Of Water Private Limited.

b) Innovative Technocare Private Limited:

During the year the Company was able to successfully accelerate the business operation.The turnover of the Company during the period was Rs.12260.81/- thousand whichconstitutes 2.12% of total consolidated turnover of Filtra Consultants and EngineersLimited and its Subsidiaries. Further the profit after tax (PAT) of the Company duringthe period was Rs.410.55/- thousand which constitutes 3.04% of total consolidated PAT ofFiltra Consultants and Engineers Limited and its Subsidiaries.

During the year under report no Company become or ceased to be joint ventures orAssociate Companies. As required pursuant to first proviso to sub section (3) of section129 read with Rule 5 of Companies (Accounts) Rules 2014 Form AOC-1 forms part of thisreport appended as Annexure- 1.

Further pursuant to the provisions of Section 136 of the Act the financial statementsof the Company consolidated financial statements along with relevant documents andseparate audited financial statement in respect of subsidiary are available on thewebsite of the Company at https://www.filtra.in/index.php/home/investment

8. Auditors:

a) Statutory Auditors:

At the 8th Annual General Meeting held on August 22 2019 M/s. Krunal Shah& Co. (Firm Registration No. 131794W) Chartered Accountants were appointed as theStatutory Auditors of the Company for 5 consecutive financial years i.e. till thefinancial year 2023-24.

b) Internal Auditors:

M/s. CNK & Associates LLP was Internal Auditors of the Company for the financialyear 2019-20. In compliance of provisions of Section 138 of the Companies Act 2013 theBoard on the recommendation of the Audit Committee has appointed M/s. CNK &Associates LLP as Internal Auditors of the Company for the financial year 2021-22.

c) Secretarial Auditors:

As required under section 204 of the Companies Act 2013read with the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Board on therecommendation of the Audit Committee has appointed M/s. Hemanshu Kapadia &Associates (FCS: 3477 and C.P. No.: 2285) Practicing Company Secretaries as theSecretarial Auditors of the Company for the financial year 2021-22to undertake theSecretarial Audit of the Company for the financial year 2021-22 and issue SecretarialAudit Report as required under the Act.

9. Auditors Report:

a) Statutory Audit Report:

The Auditors' Report and annexure to the Auditors' Report are self-explanatory and doesnot contain any observation/qualification therefore no explanations to be provided for inthis report.

b) Secretarial Audit Report:

The Secretarial Audit Report issued by M/s. Hemanshu Kapadia & AssociatesPracticing Company Secretaries who were appointed as the Secretarial Auditors of theCompany for the financial year 2020-21 is appended as Annexure - 2 to the Board'sReport. The Secretarial Audit Report for the financial year 2020-21 contains followingobservation of the Secretarial Auditor and the Management reply for the same is as under:

Sr. No. Secretarial Auditors' Observation Management reply
1 The Company Secretary and Compliance Officer of the Company had resigned w.e.f. closing working hour of January 04 2020. The Board has appointed the Ms. Shikha Sunil Chaurasia (Membership No. A59412) as the Whole-time Company Secretary and Compliance Officer of the Company w.e.f. July 01 2020 i.e. within 6 months from the date of resignation. Hence there was no Company Secretary acted as Compliance Officer during the audit period starting from April 01 2020 till June 30 2020. The Company Secretary and Compliance Officer of the Company had resigned w.e.f. closing working hour of January 04 2020. There is no time period prescribed under the SEBI Listing Regulations 2015 to fill the said vacancy however as per the provisions of Section 203 of the Companies Act 2013 the vacancy in the office of Company Secretary can filled within 6 months. The Company has appointed Ms. Shikha Sunil Chaurasia (Membership No. A59412) as the Whole-time Company Secretary and Compliance Officer of the Company w.e.f. July 01 2020 i.e. within 6 months from the date of resignation.

10. Conservation of energy technology absorption and foreign exchange earnings andoutgo:

A. Conservation of energy:

i. The steps taken or impact on conservation of energy:

As the Company is trading Company and not having any manufacturing activity it doesnot require much energy to operate. Your Company has always considered energy and naturalresource conservation as a focus area and has been constantly making efforts towards itsconservation. Even though the operations of the Company are not energy-intensive theCompany on continuous basis has taken several sustainable steps voluntarily to contributetowards better environment. Select few steps are listed below:

a) Installation of LED lights in all the offices of the Company

b) Side sun glass set up in the Registered Office to use the natural lights during daytime

c) Cross ventilation and time based auto light sensors for less electricityconsumption

d) Use of energy efficient electric equipment and

e) Educating employees and workers for energy conservation.

ii. The steps taken by the Company for utilizing alternate sources of energy:

The Company is using electricity as main source of its energy requirement and has nottaken any steps to use alternate source of energy.

iii. The capital investment on energy conservation equipment:

The Company has not made any capital investment on energy conservation equipment.

B. Technology absorption:

i. The efforts made towards technology absorption:

The Company is a trading Company hence; no efforts were made for technology absorption.However the Company is keeping track worldwide on technological development of theproducts in which it deals to have competitive advantage.

ii. The benefits derived like product improvement cost reduction product developmentor import substitution: Not Applicable.

iii. In case of imported technology (imported during the last three years reckoned fromthe beginning of the financial year): No technology has been imported by the Companyduring the last three financial years.

iv. The expenditure incurred on Research and Development: Nil

C. Foreign exchange earnings and Outgo:

The Company is engaged in activates relating to trading of water treatment component/equipment. The Company also engaged in exports activities and taking measures forincreasing exports developing new export markets and formulating export plans. Details oftotal foreign exchange used and earned on actual basis are given below:

(Amount in Rs. Thousands)

Particulars 2020-2021 2019-20
Foreign exchange earned 311.86 6948.91
Foreign exchange used 21253.65 20145.05

11. Particulars of contracts or arrangements with related parties:

The particulars of every contract or arrangements entered into by the Company withrelated parties referred to in sub-section (1) of Section 188 of the Companies Act 2013including transactions entered at arms' length under third proviso in prescribed Form No.AOC -2 is appended as Annexure - 3 to the Board's Report.

The details of transactions entered into with related parties as per AccountingStandards are disclosed in the Note No. 27 of the Financial Statement.

12. Particulars of Loans Guarantees or Investments under section 186:

During the year under report the Company has not given any loans or guarantees to anyperson except employees of the Company details of which are given in Note No. 18 of thefinancial statements. Further the Company has invested surplus funds which was notimmediately required in mutual funds. Further the Company in earlier years has madeinvestment in two subsidiaries which are still continue. The details of investment aregiven in Note No. 11 and 14.

13. Directors and Key Managerial Personnel:

a) Directors and Key Managerial Personnel and changes therein:

As on the date of this Report your Company has 6 (Six) Directors consisting of 3(Three) Independent Directors and 3 (Three) Executive Directors (Promoter) including aWoman Director (Promoter).

In accordance with the provisions of Section 152 of the Companies Act 2013 read withthe applicable Rules thereto and Articles of Association of the Company Mrs. Anjali Khant(DIN: 03506175) retires by rotation at the ensuing AGM and being eligible offers herselffor reappointment. The Board recommends to the Members her re-appointment as Director ofthe Company.

The Board of Directors on recommendation of Nomination and Remuneration Committee intheir meeting held on November 11 2020 had subject to the approval of the Membersre-appointed Mr.Ketan Khant (DIN: 03506163) as Managing Director and Mrs. Anjali Khant(DIN: 03506175) & Mr. Ashfak Mulla (DIN: 03506172) as Whole-time Directors of theCompany for a further period of three years w.e.f. April 01 2021 i.e. till March 31 2024on remuneration. The Board recommended their re-appointment to the Members.

On the recommendation of the Nomination and Remuneration Committee the Directors intheir Meeting held on June 30 2020 had appointed Ms. Shikha Sunil Chaurasia (MembershipNo. A59412) as the Whole - time Company Secretary and Compliance Officer of the Companyw.e.f. July 01 2020.

Further at the time of the appointment of an Independent Director the Company issuesa formal letter of appointment outlining his / her role function duties andresponsibilities. The format of the letter of appointment is available on our website athttp://filtra.in/upload/investment/1535001740.Appointment letter of ID.pdf

As on the date of this Report following are the Directors and Key Managerial Personnelin the Company:

1. Mr. Ketan Khant (DIN: 03506163) Chairman & Managing Director - Key ManagerialPersonnel

2. Mrs. Anjali Khant (DIN: 03506175) Whole-Time Director

3. Mr. Ashfak Mulla (DIN: 03506172) Whole-Time Director

4. Mr. Abhay Nalawade (DIN: 00342055) Independent Director

5. Mr. Yogesh Tavkar (DIN: 07011793) Independent Director

6. Mr. Haresh Malusare (DIN: 02246773) Independent Director

7. Ms. Vaishali Pai Chief Financial Officer - Key Managerial Personnel

8. Ms. Shikha Chaurasia (Membership No. A59412) Company Secretary - Key ManagerialPersonnel

Brief resume of the Directors proposed to be re-appointed at the 10th AGMrelevant information as stipulated under the SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 and Secretarial Standards - 2 have been given in theNotice convening the 10thAGM.

Mr. Ketan Khant (DIN: 03506163) and Mrs. Anjali Khant (DIN: 03506175) Directors of theCompany are related with each other (inter-se).

b) Board Evaluation:

The Board evaluation process is carried through a structured questionnaire which wasprepared after taking into consideration inputs received from the Directors setting outparameters of evaluation; the questionnaire for evaluation are to be filled inconsolidated and then evaluation was carried out.

Pursuant to the provisions of Section 178 of the Companies Act 2013 and terms ofreference of Nomination and Remuneration Committee the Committee had decided thatperformance of the Board Committee and all the Directors excluding IndependentDirectors would be carried by Independent Directors and performance evaluation ofIndependent Directors would be carried by the Board of Directors once in year. Inaccordance with the criteria suggested by the Nomination and Remuneration Committee theperformance of each Independent Director was evaluated by the entire Board of Directors inits meeting held on March 02 2021 (wherein the Director getting evaluated was absent) onvarious parameters like engagement leadership analysis decision making communicationgovernance interest of stakeholders etc. The Board was of the unanimous view that everyIndependent Director was a reputed person and brought their rich experience to thedeliberations of the Board.

The performance of all the Non-independent Directors was evaluated by the IndependentDirectors at their separate meeting held on March 02 2021. The various criteriaconsidered for the purpose of evaluation included leadership engagement transparencyanalysis decision making functional knowledge governance stakeholders etc.Independent Directors were of the unanimous view that all the Non-independent Directorswere providing good business and leadership skills. The Independent Directors alsoreviewed and discussed the performance of the Board as whole and flow of information fromManagement to the Directors. They satisfied with the performance of the Board as a whole.Further they have also evaluated the performance of the Chairman of the Company onvarious aspects such as Meeting dynamics Leadership (business and people) Governance andCommunication etc. and expressed their satisfaction over the same.

c) Declaration by an Independent Director(s) and re-appointment if any:

All the Independent Directors have provided declaration of Independence as requiredpursuant to Section 149(7) of the Companies Act 2013 stating that they meet the criteriaof independence as provided in sub-section (6) of Section 149 of the Companies Act 2013.

14. Number of meetings of the Board of Directors:

The Board of Directors met four (4) times during the financial year 2020-21. Theintervening gap between any two meetings was not more than 120 days as prescribed by theCompanies Act 2013. Details of date of Board meeting held during the year and attendanceof Directors are given in table below:

Name of the Director 30.06.2020 (Original Meeting) 15.07.2020* 02.09.2020 11.11.2020 02.03.2021
Mr. Ketan Khant Yes Yes Yes Yes Yes
Mrs. Anjali Khant Yes Yes No No Yes
Mr. Ashfak Mulla Yes Yes Yes Yes Yes
Mr. Abhay Nalawade Yes Yes Yes Yes Yes
Mr. Yogesh Tavkar Yes Yes Yes Yes Yes
Mr. Haresh Malusare Yes Yes Yes Yes Yes

* Adjourned Meeting of Original meeting held on 30.06.2020.

15. Details of Committees of the Board:

Currently the Board has 3 Committees: the Audit Committee Nomination &Remuneration Committee and Stakeholders' Relationship Committee. The Composition ofvarious Committees and other details are as follows:

A. Audit Committee:

The Board has an Audit Committee in conformity with the provisions of Section 177 ofthe Companies Act 2013. As on March 31 2021 the Audit Committee was comprised of threeIndependent Directors namely Mr. Haresh Malusare (DIN: 02246773) Mr. Abhay Nalawade(DIN: 00342055) and Mr. Yogesh Tavkar (DIN: 07011793). Where Mr. Haresh Malusare (DIN:02246773) acted as the Chairman of the Committee. Further Ms. Shikha Chaurasia CompanySecretary and Compliance Officer of the Company acted as Secretary of the Committee.

All the Members of the Audit committee are financially literate and have accounting orrelated financial management expertise as required under the Companies Act 2013.

All the major steps impacting the financials of the Company are undertaken only afterthe consultation of the Audit Committee. During the year under review the Board ofDirectors of the Company had accepted all the recommendations of the Audit Committee.

The details of number of Committee Meetings held during the year 2020-21 and attendanceof Members of the Committee are given in table below:

Name of Committee Members 30.06.2020 (Original Meeting) 15.07.2020* 02.09.2020 11.11.2020 02.03.2021
Mr. Haresh Malusare Yes Yes Yes Yes Yes
Mr. Abhay Nalawade Yes Yes Yes Yes Yes
Mr. Yogesh Tavkar Yes Yes Yes Yes Yes

 

* Adjourned Meeting of Original meeting held on 30.06.2020.

Details of establishment of Vigil mechanism cum Whistle Blower policy for Directors andemployees:

The Company pursuant to Section 177(9) of the Companies Act 2013 has establishedVigil mechanism cum Whistle Blower Policy for Directors and Employees to report theirconcerns and has also taken steps to safeguard any person using this mechanism fromvictimization. Further in appropriate and exceptional cases there is direct access toapproach Mr. Haresh Malusare (DIN: 02246773) the Chairman of the Audit Committee. ThePolicy on vigil mechanism may be accessed on the Company's website at the link:http://www.filtra.in/upload/investment/1529333294.16.pdf

B. Nomination & Remuneration Committee:

The Board has Nomination & Remuneration Committee in conformity with the provisionsof Section 178 of the Companies Act 2013. As on March 31 2021 the Nomination andRemuneration Committee was comprised of three Independent Directors namely Mr. AbhayNalawade (DIN: 00342055) Mr. Haresh Malusare (DIN: 02246773) and Mr. Yogesh Tavkar (DIN:07011793). Where Mr. Abhay Nalawade (DIN: 00342055) acted as the Chairman of theCommittee. Further Ms. Shikha Chaurasia Company Secretary and Compliance Officer of theCompany acted as Secretary of the Committee.

The appointment of the Directors and Key Managerial Personnel is recommended by theNomination & Remuneration Committee to the Board. Your Company has devised theNomination Policy for the appointment of Directors and Key Managerial Personnel (KMPs) ofthe Company who have ability to lead the Company towards achieving sustainabledevelopment. The said Policy also covers the matters related to the remuneration ofDirectors Key Managerial Personnel and Senior Managerial Personnel. A copy of the policyis appended as Annexure - 4 to the Board's Report.

The Details of remuneration paid to the Directors are given in form MGT-7 and also inannexures to the Board's Report.

The details of number of meetings of the Nomination & Remuneration Committee heldduring the year 2020-21 and attendance of Members of the Committee are given in tablebelow:

Name of the Director 30.06.2020 11.11.2020
Mr. Abhay Nalawade Yes Yes
Mr. Haresh Malusare Yes Yes
Mr. Yogesh Tavkar Yes Yes

C. Stakeholders' Relationship Committee:

The Company has always valued its investors and stakeholders. In order to ensure theproper and speedy redressal of shareholders'/investors' complaints the Stakeholders'Relationship Committee was constituted. The role of the Committee is to consider andresolve securities holders' complaint and to approve/ratify transfer of securities. Theconstitution and terms of reference of the Stakeholders' Relationship Committee is inconformity with the provisions of Section 178(5) of the Companies Act 2013. As on March31 2021 the Stakeholders' Relationship Committee was comprised of Mr. Yogesh Tavkar(DIN: 07011793) Mr. Abhay Nalawade (DIN: 00342055) and Mr.Haresh Malusare (DIN:02246773). Where Mr. Yogesh Tavkar (DIN: 07011793) has acted as the Chairman of theCommittee.

The details of number of Committee Meetings held during the year 2020-21 and attendanceof Members of the Committee are given in table below:

Name of the Director 30.06.2020 11.11.2020 02.03.2021
Mr. Yogesh Tavkar Yes Yes Yes
Mr. Abhay Nalawade Yes Yes Yes
Mr. Haresh Malusare Yes Yes Yes

16. Management Discussion & Analysis Report:

In accordance with Regulation 34 read with Schedule V of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations 2015 the Management Discussion & AnalysisReport is appended as Annexure - 5 of the Board's Report.

17. Directors' Responsibility Statement:

As stipulated under section 134(3)(c) read with Section 134(5) of the Companies Act2013 your Directors subscribe to the Directors' Responsibility Statement and state that:

a) in the preparation of the annual accounts for the financial year ended on March 312021 the applicable accounting standards have been followed and that there are nomaterial departures from the same;

b) they have selected such accounting policies and applied them consistently and madejudgments and estimates that are reasonable and prudent so as to give a true and fair viewof the state of affairs of the Company at the end of the financial year ended on March 312021 and of the profit and loss of the Company for that period;

c) they 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 for preventing and detecting fraud and otherirregularities;

d) they have prepared the annual accounts on a going concern basis;

e) they have laid down internal financial controls for the Company and such internalfinancial controls are adequate and operating effectively during the financial year endedMarch 31 2021; and

f) they have devised proper systems to ensure compliance with the provisions of allapplicable laws and such systems are adequate and operating effectively during thefinancial year ended March 31 2021.

18. Managerial Remuneration:

The information required to be disclosed with respect to the remuneration of Directorsand KMPs in the Board's Report pursuant to Section 197 of the Companies Act 2013 readwith Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel)Rules 2014 for the financial year 2020-21 is appended as Annexure - 6 to theBoard's Report.

The names of top ten employees of the Company in terms of remuneration drawn asrequired pursuant to Section 197 of the Companies Act 2013 read with Rule 5(2) & (3)of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 forthe financial year 202021 is appended as Annexure - 7 to the Board's Report.

No Managing Director or Whole-time Director of the Company were paid any remunerationor commission from any of its Subsidiary Company.

19. Report on Corporate Governance:

Your Company is committed to maintain the highest standards of corporate governance. Webelieve sound corporate governance is critical to enhance and retain investor trust. Wehave implemented best corporate governance practices in the Company to enhance long-termshareholder value and respect minority rights in all our business decisions.

As per regulation 15 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 the Corporate Governance provisions contained in the said Regulationsare not applicable to your Company hence your Company is not required to give report onCorporate Governance. Even though the provisions of Corporate Governance are notapplicable to the Company the Company is in words and spirit follows the most of theprovisions of Corporate Governance.

20. Cost Records:

As the provisions of Section 148(1) of the Companies Act 2013 read with the Companies(Cost Records and Audit) Rules 2014 was not applicable on the Company; the Company wasnot required to maintain Cost records.

21. Risk Assessment and Management:

Your Company has a well-defined Risk Management System in place as a part of its goodCorporate Governance practices. All the risks are identified at various levels andsuitable mitigation measures are thereafter adopted. These are subjected to a quarterlyreview by the Audit Committee as well as the Board. Accordingly management of risk hasalways been an integral part of the Company's 'Strategy of Organisation' and straddles itsplanning execution and reporting processes and systems. Backed by strong internal controlsystems the current Risk Management Framework consists of the following key elements:

• The Risk management policy approved by the Board clearly lays down the rolesand responsibilities of the entity in relation to risk management covering a range ofresponsibilities from the strategic to the operational. These role definitionsinter-alia provides the foundation for your Company's Risk Management Policy andFramework that is endorsed by the Board and is aimed at ensuring formulation ofappropriate risk management procedures their effective implementation across your Companyand independent monitoring and reporting by Internal Auditors.

• Appropriate structures are in place to proactively monitor and manage theinherent risks in businesses with unique / relatively high risk profiles.

• The Audit Committee of the Board reviews Internal Audit findings and providesstrategic guidance on internal controls. The Audit Committee closely monitors the internalcontrol environment within your Company including implementation of the action plansemerging out of internal audit findings.

• The Company has appointed Internal Auditors and Secretarial Auditors to complywith the various provisions and compliances under applicable laws.

22. Internal Control System and their Adequacy:

Adequate internal controls systems and checks are in place which commensurate withthe size of the Company and the nature of its business. The Management exercises financialcontrol on the operations through a well-defined budget monitoring process and otherstandard operating procedures. In addition to the above the Audit Committee and the Boardspecifically review the Internal Control and Financial Reporting process prevalent in theCompany. On a periodical basis the Board also engages the services of professionalexperts in the said field in order to ensure that the financial controls and systems arein place.

23. Disclosure under the Sexual Harassment of Women at work place (PreventionProhibition and Redressal) Act 2013:

The Company has Policy on Prevention of Sexual Harassment at work place. The Companyhas not received any complaints pertaining to sexual harassment during the financial year2020-21. Your Directors state that Company has complied with provisions relating to theconstitution of Internal Complaints Committee under the Sexual Harassment of Women atWorkplace (Prevention Prohibition and Redressal) Act 2013.

24. Secretarial Standards:

The Company has complied with the applicable Secretarial Standard as issued by theInstitute of Company Secretaries of India and notified by the Central Government.

25. Other Disclosures / Reporting:

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

a) Issue of equity shares with differential rights as to dividend voting or otherwiseas no such shares were issued;

b) Issue of shares (including sweat equity shares) to employees of the Company as nosuch scheme was drawn;

c) Voting rights which are not directly exercised by the employees in respect of sharesfor the subscription/purchase of which loan was given by the Company (as there is noscheme pursuant to which such persons can beneficially hold shares as envisaged undersection 67(3)(c) of the Companies Act 2013);

d) Material changes and commitments if any affecting the financial position of theCompany which have occurred between the end of the financial year of the Company to whichthe financial statements relate and the date of the report;

e) Details of significant and material orders passed by the regulators or courts ortribunals impacting the going concern status and Company's operations in future;

f) Details relating to deposits covered under Chapter V of the Act;

g) Details in respect of frauds reported by Auditors under sub-section (12) of Section143 other than those which are reportable to the Central Government as there was no suchfrauds reported by the Auditors;

h) Reporting on Corporate Social Responsibility as the Company does not attract any ofthe criteria as mentioned in Section 135(1) of the Act;

i) The details of application made and proceeding pending under the Insolvency andBankruptcy Code 2016; and

j) The details of difference between amount of the valuation done at the time of onetime settlement and the valuation done while taking loan from the Banks or FinancialInstitutions.

26. Acknowledgments:

Your Directors take this opportunity to thank Filtra's customers Members suppliersbankers business partners and associates financial institutions and Central and StateGovernments for their consistent support and encouragement to the Company.

Finally your Directors would like to record sincere appreciation to all the employeesof the Company for their hard work and commitment.

For and on behalf of Board of Directors Filtra Consultants and Engineers Limited

Sd/-
Date: August 27 2021 Ketan Khant
Place: Mumbai Chairman and Managing Director (DIN:03506163)
Address: 17-34-A Kutchi House Brahmanwada Road Matunga Mumbai - 400019

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