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Greenearth Resources & Projects Ltd.

BSE: 533016 Sector: Others
NSE: AUSTRAL ISIN Code: INE455J01027
BSE 00:00 | 13 Dec Greenearth Resources & Projects Ltd
NSE 05:30 | 01 Jan Greenearth Resources & Projects Ltd
OPEN 0.24
PREVIOUS CLOSE 0.24
VOLUME 60845
52-Week high 0.24
52-Week low 0.20
P/E
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 0.24
CLOSE 0.24
VOLUME 60845
52-Week high 0.24
52-Week low 0.20
P/E
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Greenearth Resources & Projects Ltd. (AUSTRAL) - Director Report

Company director report

To

The Members

Greenearth Resources & Projects Limited

Kolkata

Your Directors have presenting their Report and Audited Accounts of the Company for theyear ended March 31 2019.

Financial Performance Summary

(1) The financials for the financial year 2018-19 is as follows:-

(Amount in Rs.)
31 March 2019 31 March 2018
Revenue from operations 600000 1500000
Other income 6976 4855
Total income 606976 1504855
Expenses
Cost of materials consumed - -
Employee benefits expense - -
Finance costs - 9949
Depreciation and amortization expense 41847062 63675687
Other expenses 42473470 1539032
Total expenses 84320532 65224668
Profit before exceptional items and tax (83713556) (63719813)
Exceptional items 2315151 -
Profit before tax (86028707) (63719813)
Tax expense
Current tax - -
MAT credit entitlement - -
Deferred tax (benefit)/charge - -
Total tax expense - -
Profit for the year (86028707) (63719813)
Other comprehensive income
Items that will not be reclassified to profit or loss - -
Income tax on items that will not be reclassified to profit or loss - -
Items that will be reclassified to profit or loss - -
Income tax on items that will be reclassified to profit or loss - -
Total other comprehensive income - -
Total comprehensive income for the year (86028707) (63719813)

2. Dividend:

In view of losses the directors of company has not recommended any dividend for thecurrent Period.

3. Fixed Deposits:

During the Period Your Company has not accepted any public deposits during thefinancial period under review.

4. RELATED PARTY TRANSACTIONS

There are Related Party Transactions that were entered into during the financial yearwere on an arm's length basis in the ordinary course of business and were in compliancewith the applicable provisions of the Act and the Listing Regulations. There were nomaterially significant Related Party Transactions made by the Company during the year thatwould have required Shareholder approval under the Listing Regulations.

All Related Party Transactions are placed before the Audit Committee for approval.Prior omnibus approval of the Audit Committee is obtained for the transactions which arerepetitive in nature. A statement of all Related Party Transactions is placed before theAudit Committee for its review on a quarterly basis specifying the nature value andterms and conditions of the transactions.

The Company has adopted a Related Party Transactions Policy. The Policy as approved bythe Board is uploaded on the Company's website.

Details of the transactions with Related Parties are provided in the accompanyingfinancial statements.

5. RISK MANAGEMENT

Risk management comprises all the organizational rules and actions for earlyidentification of risks in the course of doing business and the management of such risks.

Although not mandatory as a measure of good governance the Company has constituted aRisk Management Committee of the Board. The Committee reviews the Company's performanceagainst identified risks formulates strategies towards identifying new and emergent risksthat may materially affect the Company's overall risk exposure and reviews the RiskManagement Policy and structure.

This robust Risk Management framework seeks to create transparency minimize adverseimpact on business objectives and enhance the Company's competitive advantage

The Internal Audit Department is responsible for facilitating coordination with theheads of various Departments with respect to the process of identifying key risksassociated with the business manner of handling risks adequacy of mitigating factors andrecommending corrective action. The major risks forming part of the Enterprise RiskManagement process are linked to the audit universe and are also covered as part of theannual risk based audit plan.

The Company has adopted a Risk Management Policy pursuant to Section 134 of the Act.

6. Information under Section 196-202 of Companies Act 2013 and Rule 3-10 ofthe Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014

None of the employees was in receipt of remuneration exceeding the limit specifiedunder section 196-202 of Companies Act 2013.

7. DIRECTORS AND KEY MANAGERIAL PERSONNEL

Appointment and Retirement:

To appoint a Director in place of Mr. Chandan Kumar Singh who retires by Rotation atthe Annual General Meeting and being eligible offers him for reappointment

During the year:

Mr. Sourav Ganguly who was appointed as the Director of the Company with effect from31st July2017 has been resigned from the Directorship of the company with effect from19th September 2018.

Mr.Chandan Kumar Singh has been appoint as Director of the company with effect from12th September 2018.

8. Director's Responsibility Statement:

Based on the framework of internal financial controls and compliance systemsestablished and maintained by the Company work performed by the Internal Statutoryincluding audit of the internal Financial controls over financial reporting by theStatutory Auditors and the reviews performed by Management and the relevant BoardCommittees including the Audit Committee the Board is of the opinion that the Company'sinternal financial controls were adequate and effective during the financial year 2018-19.

Pursuant to in terms of clause (c) of sub-section 3 of Section 134 & Section 134(5)of the Companies Act 2013 the directors based on the representations received from theManagement confirm:

That in the preparation of the annual accounts the applicable accounting standardshave been followed That we 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 March 2019and the profit / Loss of the Company for that period.

That we 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

That we have prepared the annual accounts on a going concern basis.

9. Auditors

Statutory Auditors:

The Board has proposed to re-appointment of Mr. Shailesh Agarwal having MembershipNo.063220 Partner of SARP &ASSOCIATES Chartered Accountants (Firm RegistrationNo.007375C) Address at 105 4 Fairlee palace Hmp House Kolkata -700001 as a StatutoryAuditor of the Company until the conclusion of Next Annual General Meeting of the companyat a remuneration as the Board of Directors may determine. "subject to the approvalof the shareholders in the Annual General Meeting of the company;

10. Conservation of Energy Research and Development Technology Absorption andForeign Exchange Earning & Outgo.

The information required under the Companies Act2013 with respect to conservation ofenergy technology absorption and foreign exchange earnings/outgo is appended hereto asAnnexure: "A" and it forms part of this Report.

11. Employee Relations

The employee relations in the Company continued to be positive. Information as perSection 134 of the Companies Act 2013 (the 'Act') read with the Companies (Particulars ofEmployees) Rules 1975 forms part of this Report. As per the provisions of Section 136 ofthe Act the Report and Accounts are being sent to the shareholders of the Companyexcluding the statement on particulars of employees under Section 134 of the Act. Anyshareholder interested in obtaining a copy of the said statement may write to theSecretarial Department at the Registered Office of the Company.

12. Trade Relations

Your Directors wish to record appreciation of the continued unstinted support andco-operation from its Customers suppliers of goods/services clearing and forwardingagents and all others associated with it. Your Company will continue to build and maintainstrong association with its business partners.

Your Company also has a Policy on Prevention of Sexual Harassment which is reviewed bythe Internal Complaints Committee at regular intervals. Your Company recognizes itsresponsibility and continues to provide a safe working environment for women free fromsexual harassment and discrimination and to boost their confidence morale andperformance.

13 Corporate Governance Report Management Discussion & Analysis Report andBusiness Responsibility Report

As per clause 49 of the Listing Agreements entered into with the Stock ExchangesCorporate Governance Report with auditors' certificate thereon and Management Discussionand Analysis are attached and form part of this report.

As per clause 55 of the Listing Agreements entered into with the Stock Exchanges aBusiness Responsibility Report is attached and forms part of the annual report.

14. Acknowledgements

The Directors thank the Company's customers vendors investors business associatesbankers for their support to the company. The Directors appreciate and value thecontributions made by every member of the "Greenearth" family across thecountry.

By Order of the Board of Directors
For Greenearth Resources and Projects Limited
Sd/-
Nishant kumar Tiwary
Director
Place: Kolkata
Date: August 14 2019

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