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Hari Govind International Ltd.

BSE: 531971 Sector: Industrials
NSE: N.A. ISIN Code: INE167F01018
BSE 05:30 | 01 Jan Hari Govind International Ltd
NSE 05:30 | 01 Jan Hari Govind International Ltd

Hari Govind International Ltd. (HARIGOVINDINTL) - Director Report

Company director report

Your Directors have pleasure in presenting the Annual Report together with the AuditedAccounts of the Company for the year ended 31st March 2021.

Financial Results:

Particulars 2020-21 2019-20
Total Revenue (Including Other Income) Nil Nil
Total Expenses 1721093 546999
Profit / (Loss) before Prior period Exceptional and Extra-Ordinary items. (1721093) (546999)
Prior Period items - -
Exceptional items - -
Tax Expenses - -
Profit / (Loss) for the Year (1721093) (546999)

Performance of the Company during the year under review:

During the year under review company did not carried on any business. The Directors ofthe Company have been exploring various diversified areas and exploring new business areasto take up the company into new heights.

Future Outlook:

Overall performance of the industry is dull and the company is diversifying itself intoother business areas and to explore international markets.

Dividend:

The Board of Directors do not recommend any Dividend for the year 2020-21 consideringthe financial situation of the company.

Fixed deposits:

During the year under review the Company has not accepted any fixed deposits and thereare no fixed deposits which are pending repayment.

Subsidiary Companies:

Your Company does not have any subsidiary company during the year under review.

Directors:

In accordance with the provisions of the Companies Act 2013 and the Company's Articlesof Association Mrs. Sunita J Maniyar Director of the company retires by rotation at thisAGM being eligible offer herself for re-appointment.

The Company is in the process of appointing second Independent Director on the Board.

Board Meetings:

Five meetings of the Board of Directors were held during the year. For further detailsplease refer report on Corporate Governance of this Annual Report.

Declaration by Independent Director:

The Company has received declarations from all the Independent Directors of the Companyconfirming that they meet the criteria of independence as prescribed both under the Actand SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

The Company has devised a Policy for performance evaluation of Independent DirectorsBoard Committees and other individual Directors which includes criteria for performanceevaluation of the non-executive directors and executive directors and a process ofevaluation was followed by the Board for its own performance and that of its Committeesand individual Directors.

The details of programs for familiarization of Independent Directors with the Companytheir roles rights responsibilities in the Company nature of the industry in which theCompany operates business model of the Company and related matters are put up on thewebsite of the Company.

Directors' Responsibility statement:

The Directors' Responsibility Statement referred to in clause (c) of sub-section (3)shall state that-

(a) In the preparation of the annual accounts the applicable accounting standards hadbeen followed along with proper explanation relating to material departures;

(b) The directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the company at the end of the financial year and ofthe profit and loss of the company for that period;

(c) The directors had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of this Act for safeguarding theassets of the company and for preventing and detecting fraud and other irregularities;

(d) The directors had prepared the annual accounts on a going concern basis; and

(e) The directors had laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate and were operatingeffectively.

Audit Committees Nomination & Remuneration CSR and Stakeholders RelationshipCommittee:

There are 4 committee formed in the Company namely

(i) Audit Committee

(ii) Nomination & Remuneration Committee

(iii) Stakeholders Relationship Committee

(iv) Corporate Social Responsibility Committee

The Board re-constituted the committees and presently all the committees comprise ofMr. Jugalkishore Harikishan Maniyar Mrs. Amridevi Harikisan Maniyar & Mr. MayurBhailal Bhanushali as the committee members.

Corporate Governance:

Even though the Company is outside the purview of compulsory compliance requirements ofClause 27 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015it has complied with the requirements of the Code of Corporate Governance as stipulated inclause 27 of the SEBI (LODR) Regulations 2015. A Report on Corporate Governance alongwith Certification by the Managing Director is attached to this Directors' Report.

Auditors:

In the Annual General Meeting held for the financial year 2018-19 on 27th September2019 M/s. C V Paturkar & Co Chartered Accountants have been appointed to act as theStatutory Auditors of the Company for a term of 5 financial years i.e. from FinancialYear 2019-20 to

Financial Year 2023-24. The Auditor Report for the financial year ended March 31 2021is annexed herewith and is part of the Annual Report.

Extract of Annual Return:

An Extract of Annual Return of the Company Pursuant to section 92(3) of the CompaniesAct 2013 and rule 12(1) of the Companies (Management and Administration) Rules 2014 isgiven below;

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