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Jalan Transolutions (India) Ltd.

BSE: 538428 Sector: Others
NSE: JALAN ISIN Code: INE349X01015
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Jalan Transolutions (India) Ltd. (JALAN) - Director Report

Company director report

To

The Members

JALAN TRANSOLUTIONS (INDIA) LIMITED

The Directors of your Company are pleased to present their 16th Annual Report on the business and operations of the Company along with the Audited Annual Financial Statements and the Auditors' Report thereon for the financial year ended March 31 2019. The financial highlights for the year under review are given below:

1. FINANCIAL HIGHLIGHTS:

(Rupees in Lakhs)

PARTICULARSFIGURES FOR 31.03.2019FIGURES FOR 31.03.2018
Revenue from operations4588.0413815.73
Other Income111.55102.80
Expenses and other Provisions5207.8612920.05
Profit/(Loss) before exceptional and extraordinary items and tax(508.27)998.47
Exceptional item--
Profit/(Loss) before tax (PBT)(508.27)998.47
Provision for Tax- Current0.00421.87
Deferred Tax Liability(68.66)(29.46)
Profit/ (Loss)After Tax (PAT)(439.61)606.06
Surplus brought forward from last year1391.15785.09
Previous Year Adjustments(603.89)-
Initial Public Offer3849000 equity shares of face of Rs. 10/- each at a share premium of Rs. 36/- per share
Share Premium (3849000@36)1385.641385.64
Balance Carried Forward1733.282776.79

DIVIDEND

Your Directors do not propose any dividend on the Equity Shares for the Financial Year ended March 31 2019.

AUTHORIZED SHARE CAPITAL

The Authorized Share Capital of the Company is Rs. 15 Crore and there is no change in the Authorized Share Capital of the Company during the financial year 2018-19.

SHARE CAPITAL

The Paid-up Share Capital of the Company is Rs. 14.53722 Crore and there is no change during the financial year 2018-19.

CHANGE IN NATURE OF BUSINESS IF ANY

There is no change in the nature of business of the Company during the year.

DEPOSITORY SYSTEM

All the 14537220 equity shares of the Company are in dematerialized form as on March 31 2019. No share of the Company is held in physical mode.

LISTING

Your Company is listed on Emerge Platform of National Stock Exchange of India Limited (NSE Emerge) since May 30 2017.

TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND

No unclaimed amount is pending to transfer in investor education fund.

SUBSIDIARY COMPANY & CONSOLIDATED FINANCIAL STATEMENTS

During the year under review your Company does not have any subsidiaries or joint ventures or associate companies as defined under Companies Act 2013 therefore no such information is required to be furnished.

DEPOSITS

Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act 2013 and the Companies (Acceptance of Deposits) Rules 2014.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS UNDER SECTION 186

During the year under review the Company did not grant any loan or provide any guarantee as per the provisions of section 186 of the Companies Act 2013.

BUSINESS RISK MANAGEMENT

Pursuant to section 134(3)(n) of the Companies Act 2013 the Company has implemented an integrated risk management approach through which it reviews and assesses significant risks controls and mitigation in place. At present the Company has not identified any element of risk which may threaten the existence of the Company.

MATERIAL CHANGES AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN 31st MARCH 2019 AND 28th AUGUST 2019 (DATE OF THE DIRECTOR'S REPORT)

There were no material changes affecting the financial position of the Company between the end of financial year i.e. March 31 2019 and the date of Director's Report i.e. August 28 2019.

EXTRACT OF ANNUAL RETURN

As required pursuant to section 92(3) of the Companies Act 2013 and rule 12 of the Companies (Management and Administration) Rules 2014 an extract of annual return in Form MGT-9 as a part of this Annual Report is annexed as Annexure-I.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

A statement giving details of conservation of energy technology absorption foreign exchange earnings and outgo in accordance with the requirement of the Section 134(3)(m) of the Companies Act 2013 read with Rule 8 of the Companies (Account) Rules 2014 forms part of this Board's Report and is annexed as Annexure-II.

RELATED PARTY TRANSACTION

All contracts/arrangements/transactions entered by the Company with related parties are at arm's length basis.

The details of the related party transactions are set out in Notes to the Financial Statements of the Company and form AOC - 2 pursuant to Section 134 of the Companies Act 2013 read with Rule 8 of the Companies (Accounts) Rules 2014 is set out in Annexure-III.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

As per Section 135 of the Companies Act 2013 a Corporate Social Responsibility (CSR) committee has been formed by the company. The areas for CSR activities are of Skill Development and Vocation based education Livelihood enhancement Waste Management and Sanitation Environmental sustainability Women and Youth empowerment Disaster Relief National Missions projects which are specified in Schedule VII of the Companies Act 2013.

The company has not incurred CSR expenses of Rs.741784 as created in the financial year 2017-18 due to some unavoidable reason and the company is in the process to make the expense as mentioned in the Books of Accounts and shall submit the relevant report. During the year the Company has created a provision of Rs. 451240 for CSR Expenses.

DETAILS OF DIRECTORS AND KEY MANAGERIAL PERSONNEL APPOINTED/ RESIGNED / RETIRED DURING THE YEAR.

The Board has appointed Mr. Amit Aggarwal (DIN: 08399258) as an Additional Director in the category of Non-Executive Independent Director with effect from March 28 2019 subject to the approval of the shareholders in the next ensuing Annual General Meeting.

The Board has appointed Ms. Jyoti Chauhan (DIN: 08398806) as an Additional Director in the category of Non- Executive Independent Director with effect from March 28 2019 subject to the approval of the shareholders in the next ensuing Annual General Meeting.

Pursuant to the provisions of Section 203 of the Companies Act 2013 Ms. Aayushee Bhatia was appointed as the Company Secretary and Compliance Officer of the Company with effect from March 01 2019 based on the recommendation of the Nomination and Remuneration Committee of the Board.

During the year under review Mrs. Mamta Sharma has resigned from the position of Company Secretary and Compliance Officer with effect from September 05 2018.

Mr. Rajnish Kumar Pandey (DIN: 01096119) Independent Director of the company has resigned from the office of Director with effect from September 21 2018 due to some personal and unavoidable circumstances.

In accordance with the provisions of Companies Act 2013 and Article of Association of the Company Mr. Manish Jalan (DIN: 00043040) retired by rotation at the Annual General Meeting held in the year 2019 and being eligible offer himself for re-appointment and he was re-appointed by the shareholders as a Director of the Company and his term is liable to retire by rotation.

DECLARATION BY INDEPENDENT DIRECTOR

The Company has received declarations from all the Independent Directors of the Company confirming that they meet the criteria of independence as prescribed under the Companies Act 2013 and rules made thereunder and relevant regulation of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

MEETINGS

The Board meets at regular intervals to discuss and decide on Company / Business policy and strategy apart from other Board business. The Board / Committee Meetings are prescheduled and a tentative annual calendar of the Board and Committee Meetings is circulated to the Directors in advance to facilitate them to plan their schedule and to ensure meaningful participation in the meetings. However in case of a special and urgent business need the Board's approval is taken by passing resolutions through circulation as permitted by law which are confirmed in the subsequent Board meeting.

The Board of Directors duly met 7 (Seven) times during the financial year from 01.04.2018 to 31.03.2019. The dates on which the meetings were held are as follows:

Types of MeetingDate of Meeting
1. Board Meeting29.05.2018
2. Board Meeting04.07.2018
3. Board Meeting30.08.2018
4. Board Meeting28.11.2018
5. Board Meeting15.01.2019
6. Board Meeting01.03.2019
7. Board Meeting28.03.2019

The Committees Meeting held during the financial year from 01.04.2018 to 31.03.2019. The dates on which the meetings were held are as follows:

AUDIT COMMITTEE MEETINGS

The members of Audit Committee duly met 4 (four) times during the financial year from 01.04.2018 to 31.03.2019. The dates on which the meetings were held are as follows:-

Types of MeetingDate of Meeting
1. Audit Committee Meeting29.05.2018
2. Audit Committee Meeting04.07.2018
3. Audit Committee Meeting30.08.2018
4. Audit Committee Meeting28.11.2018

STAKEHOLDERS RELATIONSHIP COMMITTEE MEETINGS

The members of Stakeholders Relationship Committee duly met 4 (four) times during the financial year from 01.04.2018 to 31.03.2019. The dates on which the meetings were held are as follows:-

Types of MeetingDate of Meeting
1. Stakeholders Relationship Committee Meeting29.05.2018
2. Stakeholders Relationship Committee Meeting04.07.2018
3. Stakeholders Relationship Committee Meeting30.08.2018
4. Stakeholders Relationship Committee Meeting28.11.2018

No complaints were received from the shareholders during the year 2018-2019.

NOMINATION AND REMUNERATION COMMITTEE MEETINGS

The members of Nomination and Remuneration Committee duly met 6 (Six) times during the financial year from 01.04.2018 to 31.03.2019. The dates on which the meetings were held are as follows:-

TYPES OF MEETINGDATE OF MEETING
1. Nomination and Remuneration Committee Meeting29.05.2018
2. Nomination and Remuneration Committee Meeting04.07.2018
3. Nomination and Remuneration Committee Meeting30.08.2018
4. Nomination and Remuneration Committee Meeting28.11.2018
5. Nomination and Remuneration Committee Meeting01.03.2019
6. Nomination and Remuneration Committee Meeting28.03.2019

CORPORATE SOCIAL RESPONSIBILITY COMMITTEE MEETINGS

The members of Corporate Social Responsibility Committee duly met 1 (One) time during the financial year from 01.04.2018 to 31.03.2019. The date on which the meeting was held is as follow:-

TYPES OF MEETINGDATE OF MEETING
1. Corporate Social Responsibility Committee Meeting01.03.2019

CONSTITUTION OF COMMITTEES

The constitution of Audit Committee has been changed in the meeting held on March 28 2019 and the members of the Audit Committee are as follows:-

Name of DirectorsDesignation in CommitteeNature of Directorship
Mr. Amit AggarwalChairmanNon-Executive Independent Director
Ms. Jyoti ChauhanMemberNon-Executive Independent Director
Mr. Manish JalanMemberChief Financial Officer & Executive Director

The constitution of Nomination and Remuneration Committee has been changed in the meeting held on March 28 2019 and the members of the Nomination and Remuneration Committee are as follows:-

Name of DirectorsDesignation in CommitteeNature of Directorship
Mr. Amit AggarwalChairmanNon-Executive Independent Director
Ms. Jyoti ChauhanMemberNon-Executive Independent Director
Mrs. Pushpa JalanMemberNon-Executive & Non-Independent Director

The constitution of Stakeholders Relationship Committee has been changed in the meeting held on March 28 2019 and the members of Stakeholders Relationship Committee are as follows:-

Name of DirectorsDesignation in CommitteeNature of Directorship
Ms. Jyoti ChauhanChairmanNon-Executive Independent Director
Ms. Deepika DwivediMemberNon-Executive Independent Director
Mr. Rajesh JalanMemberManaging Director

The constitution of Corporate Social Responsibility Committee has been changed in the meeting held on March 28 2019 and the members of Corporate Social Responsibility Committee are as follows:-

Name of DirectorsDesignation in CommitteeNature of Directorship
Mr. Manish JalanChairmanChief Financial Officer & Executive Director
Mr. Rajesh JalanMemberManaging Director
Ms. Jyoti ChauhanMemberNon-Executive Independent Director

SEPARATE MEETING OF INDEPENDENT DIRECTORS

Separate Meeting of Independent Directors was held on March 282019.

PARTICULARS OF EMPLOYEES

The information in accordance with the provisions of Section 197 of the Companies Act 2013 read with rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 is annexed as Annexure-IV.

POLICY ON DIRECTOR APPOINTMENT AND REMUNERATION

The Company's policy on Directors' appointment and remuneration including criteria for determining qualifications positive attributes independence of a Director and other matters provided under section 178(3) of the Companies Act 2013. Further information about elements of remuneration package of individual Directors is provided in the extract of Annual Return as provided under Section 92(3) of the Act is enclosed as Annexure -1 in the prescribed Form MGT-9 and forms part of this report.

FAMILARIZATION OF INDEPENDENT DIRECTORS

The details of program for familiarization of Independent Directors with the Company their roles rights responsibilities in the Company nature of the industry in which the Company operates business model of the Company and related matters are put up on the website of the Company at www.jalantransolutions.com. All the Independent Directors of the Company are made aware of their roles responsibilities & liabilities at the time of their appointment /re-appointment through a formal letter of appointment which also stipulates various terms and conditions of their engagement.

TERMS AND CONDITIONS FOR APPOINTMENT OF INDEPENDENT DIRECTOR

The Board of Directors has approved the terms and conditions for appointment of Independent Directors in the Company. The Terms and Conditions are available on the website of the company at www.ialantransolutions.com

ANNUAL EVALUATION BY THE BOARD

The evaluation framework for assessing the performance of Directors comprises of the following key areas:

a. Attendance of Board Meetings and Board Committee Meetings.

b. Quality of contribution to Board deliberations.

c. Strategic perspectives or inputs regarding future growth of Company and its performance.

d. Providing perspectives and feedback going beyond information provided by the management.

e. Commitment to shareholder and other stakeholder interests. The evaluation involves Self-Evaluation by the Board Member and subsequently assessment by the Board of Directors. A member of the Board will not participate in the discussion of his / her evaluation.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

There are no significant material order passed by the Regulators or courts which would impact the going concern status of the company and its future operations.

In the matter of M/s SRLK Enterprises LLP (Financial Creditor) Vs M/s Jalan Transolutions (India) Limited (Corporate Debtor) the Hon'ble National Company Law Tribunal (NCLT) has issued notice to corporate debtor to Submit the reply of the petition as filled by Financial Creditor in the court.

On April 02 2019 Hon'ble Bench National Company Law Tribunal New Delhi Bench Court- II has appointed Sh. Rakesh Kumar Gupta to act as Interim Resolution Professional in the matter of M/s SRLK Enterprises LLP V/s M/s Jalan Transolutions (India) Limited and he has also been authorized to exercise all powers and subject to all duties as contemplated under the provisions of the IBC.

On April 27 2019 a settlement deed has been signed between Financial Creditor and Corporate Debtor.

On May 06 2019 Corporate Debtor prayed for termination of the CIR process on grounds that the settlement had been arrived between the parties.

On 09.05.2019 Hon'ble Bench National Company Law Tribunal New Delhi Bench Court- II has terminated the IRP proceedings and released the corporate debtor from the rigours of the moratorium and is permitted to function through its own board.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

Pursuant to Section 177 of the Companies act 2013 read with Rule 7 of the Companies (Meetings of Board and its Powers) Rules 2014 and Regulation 22 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 the Vigil Mechanism and Whistle-Blower Policy is prepared and adopted by Board of Directors of the Company.

The Company has a Vigil Mechanism/Whistle Blower Policy to deal with instances of fraud and mismanagement if any. The Vigil Mechanism/Whistle Blower Policy ensures that strict confidentiality is maintained whilst dealing with concerns and also that no discrimination will be meted out to any person for a genuinely raised concern.

STATUTORY AUDITORS

M/s Kapil Dev & Associates Chartered Accountants FRN: 025812N Statutory Auditors of the Company was appointed in the meeting of Board of Directors held on November 28 2018 to fill the casual vacancy created in the office of Statutory Auditors due to the resignation of M/s Aggarwal Sarawagi & Co. from the post of Statutory Auditors of the company.

Further the shareholders of the company have approved the appointment of M/s Kapil Dev & Associates Chartered Accountants FRN: 025812N as Statutory Auditors of the company in the Extra Ordinary General Meeting of the Company which was held on February 25 2019 from the conclusion of this meeting until the conclusion of ensuing Annual General Meeting of the Company.

M/s Kapil Dev & Associates Chartered Accountants FRN: 025812N Statutory Auditors of the Company has resigned from the post of Statutory Auditors with effect from August 28 2019 due to their pre- occupation in other assignments. The Board has appointed M/s Gyan Roshan & Associates Chartered Accountants (FRN 0027116N) as Statutory Auditors of the company in the Board Meeting held on August 28 2019 to fill the casual vacancy in the office of Statutory Auditors subject to the approval of shareholders in the ensuing Annual General meeting of the Company.

AUDITOR'S REPORT

The Auditors Report on the Audited Financial Statement of the Company for the year ended 31st March 2019 do not contain any qualification reservation or adverse remark so need not require any explanation or comment.

SECREATRIAL AUDITORS

Pursuant to the provisions of Section 204 of the Companies Act 2013 M/s AMJ & Associates Company Secretaries (Membership No. 5832 and C.P. No. 5629) having Office Address: 207 Shree Ganesh Complex 32B Veer Shivakar Block Shakarpur Delhi-110092 has been appointed as the Secretarial Auditor of the Company to conduct the Secretarial Audit for the financial year 2018-19. The Secretarial Audit Report forms part of Annual Report and it is annexed as Annexure-V.

The Secretarial Audit Report for the Financial Year ended on March 31 2019 issued by Secretarial Auditor contains the following observations:

-The Company has not appointed the Internal Auditor as per the requirement of the provisions of the section 138 of Companies Act 2013 read with Rule 13 of the Companies (Accounts) Rules 2014.

During the year M/s Gyan Roshan & Associates Internal Auditors has resigned on 27.11.2018. The Board of Directors has not recommended the Internal Auditor to fill the vacancy.

 The management is in search of suitable candidate for this profile.

-The Company is registered under Carriage by Road Act 2007 and Carriage by Road Rules 2011. As per the provisions of Section 3(7)(c) Company is required to file such information or return as prescribed within one hundred and twenty days after the thirty-first day of March every year but the Company has not filed any information or the required return annually.

 The Company is in process to comply with the provisions of Carriage by Road Act 2007 and Carriage by Road Rules 2011.

-The Company has issued Share Capital during the year 2017-18 but no proof of payment of stamp duty as required under the provisions of the Indian Stamp Act 1899 has been provided.

 The company is under process for payment of Stamp Duty.

-As explained to us as per Section 135 of the Companies Act 2013 a Corporate Social Responsibility (CSR) committee has been formed by the company. Further the company has not incurred CSR expenses of Rs.741784 as created in the financial year 2017-18. During the year the Company has created a provision of Rs. 451240 for CSR Expenses however no Expenses were incurred towards CSR expenditure.

 The company has not incurred CSR expenses of Rs.741784 as created in the financial year 2017-18 due to some unavoidable reason and the company is in the process to make the expense as mentioned in the Books of Accounts and shall submit the relevant report.

Except above Secretarial Audit Report for the Financial Year ended on March 31 2019 issued by Secretarial Auditor does not contain any qualification reservation or adverse remark so need not require any explanation or comment.

ANNUAL SECRETARIAL COMPLIANCE REPORT

As the Company is listed on NSE EMERGE (SME) platform and as per the Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015 the compliance with the provision as specified in regulations 17 17A 18 19 20 21 22 23 24 24A 25 26 27 and clauses (b) to (i) of sub-regulation (2) of regulation 46 and Para C D and E of schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 shall not apply on listed entity which has listed its specified securities on the SME Exchange.

Hence being an entity listed on SME Exchange compliances under Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015 are not applicable to the company.

NO DISQUALIFICATION CERTIFICATE FROM COMPANY SECRETARY IN PRACTICE

As the Company is listed on NSE EMERGE (SME) platform and as per the Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015 the compliance with the provision as specified in regulations 17 17A 18 19 20 21 22 23 24 24A 25 26 27 and clauses (b) to (i) of sub-regulation (2) of regulation 46 and Para C D and E of schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 shall not apply on listed entity which has listed its specified securities on the SME Exchange.

Hence being an entity listed on SME Exchange compliances under Regulation 34 Schedule V Para C clause (10)(i) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 i.e. Certificate from Practising Company Secretary confirming that none of the Directors on the Board of the Company have been debarred or disqualified from being appointed or continuing as directors of companies by the Securities and Exchange Board of India Ministry of Corporate Affairs or any such other Statutory Authority is not applicable to the company.

COMPLIANCE CERTIFICATE BY MANAGING DIRECTOR AND CHIEF FINANCIAL OFFICER

The Managing Director and the Chief Financial Officer of the Company give annual certification on financial reporting and internal controls to the Board in terms of Regulation 17(8) of the Listing Regulations copy of which is attached to this Report. The Managing Director and the Chief Financial Officer also give half yearly certification on financial results while placing the financial results before the Board in terms of Regulation 33(2) of the Listing Regulations.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has an Internal Control System commensurate with the size scale and complexity of its operations. The scope and authority of the Internal Audit function is defined in the Internal Audit Manual.

The Internal Audit Department monitors and evaluates the efficacy and adequacy of internal control system in the Company its compliance with operating systems accounting procedures and policies at all locations of the Company. Based on the report of internal audit function process owners undertake corrective action in their respective areas and thereby strengthen the controls.

INTERNAL AUDITORS

Pursuant to the provision of Section 138 of the Companies Act 2013 the Company has appointed M/s Gyan Roshan & Associates Chartered Accountants (FRN 0027116N) as an Internal Auditor of the Company and they will perform the duties of internal auditors of the Company and their report will be reviewed by the audit committee from time to time.

Further M/s Gyan Roshan & Associates Chartered Accountants has resigned from the post of Internal Auditors with effect from November 27 2018.

COST AUDITORS

Provision of Cost Audit is not applicable on your Company. Accordingly your Company is not required to conduct the cost audit for the financial year 2017-18.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report form part of Board Report and is annexed as Annexure-VI. SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

The Company's Policy on Prevention of Sexual harassment at workplace is in line with the requirements of the Sexual harassment of women at workplace (Prevention Prohibition and Redressal) Act 2013 (Prevention of Sexual harassment of Women at Workplace Act) and rules framed thereunder. Internal Complaints committees have also been set up to redress complaints received regarding sexual harassment.

The company Conducts sessions for employees across the organization to build awareness among employees about the policy and the provisions of Prevention of Sexual harassment of women at workplace Act.

The Company is committed to providing a safe and Conducive work environment to all of its employees and associates.

CODE OF CONDUCT

According to Regulation 17 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 the Code of Conduct of the Company has been approved by the Board of Directors. All Board members and senior management personnel have affirmed the compliance with the code.

During the year no Board members and senior management personnel has violated the provision of Code of Conduct.

PREVENTION OF INSIDER TRADING

As required under the provisions of SEBI (PIT) Regulations 2015 the Board of Directors has adopted a code of conduct for prevention of Insider Trading during the year 2017-18.The Code of Conduct is applicable to all the directors and such identified employees of the Company as well as who are expected to have access to unpublished price sensitive information related to the company. The Code lays down guidelines which advises them on procedures to be followed and disclosures to be made while dealing with shares of Jalan Transolutions (India) Limited and cautions them on consequences of violations.

POLICY FOR PRESERVATION OF DOCUMENTS

In accordance with the above Regulation 9 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 the Policy for preservation of documents (The Policy) has been framed by the Board of Directors of the Company in their Board Meeting to aid the employees in handling the Documents efficiently. This Policy not only covers the various aspects on preservation of the Documents but also the safe disposal/destruction of the Documents.

During the year the Company has complied with the provision of Policy for preservation of documents INDUSTRIAL RELATIONS

During the year under review your Company enjoyed cordial relationship with workers and employees at all levels.

SUSTAINABILITY INITIATIVE

Your company is conscious of its responsibility towards preservation of Natural resources and continuously takes initiative to reduce consumption of electricity and water.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to clause (c) of sub-section (5) of Section 134 of the Companies Act 2013 the Directors confirm that:-

i. in the preparation of the annual accounts for the financial year 2018-19 the applicable accounting standards have been followed and there are no material departures;

ii. the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for the financial year;

iii. the Directors had taken proper and sufficient care to the best of their knowledge and ability for the maintenance of adequate accounting records in accordance with the provisions of the Act. They confirm that there are adequate systems and controls for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv. the Directors had prepared the annual accounts on a going concern basis;

v. they have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating properly; and

vi. the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

ACKNOWLEDGEMENT

We thank the Government of India and Governments of various states where the company has its operations. We also take this opportunity to thank our bankers for their continuous support to the company.

We also thank our esteemed customers & clients vendors and investors for their continued support during the year. We also take this opportunity to place on record appreciation of the contribution made by our employees at all levels. Our growth demonstrates their commitment handwork support and cooperation.

For and on behalf of the Board of Directors

M/s JALAN TRAN SOLUTION S (INDIA) LIMITED

Sd/-Sd/-
Date: 28.08.2019Rajesh JalanManish Jalan
Place: Delhi(Managing Director)(Director)
DIN: 00050253DIN: 00043040

   

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