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MRC Exim Ltd.

BSE: 540809 Sector: Others
NSE: N.A. ISIN Code: INE333Y01017
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VOLUME 8000
52-Week high 8.50
52-Week low 3.47
P/E 50.00
Mkt Cap.(Rs cr) 5
Buy Price 0.00
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Sell Price 0.00
Sell Qty 0.00
OPEN 5.00
CLOSE 5.00
VOLUME 8000
52-Week high 8.50
52-Week low 3.47
P/E 50.00
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

MRC Exim Ltd. (MRCEXIM) - Director Report

Company director report

Dear Members

Your Directors are pleased to present the 5th Annual Report of MRC EXIMLIMITED along with the Audited Financial Statements for the financial year ended 31stMarch 2020.

FINANCIAL HIGHLIGHTS

Particulars Year ended March 31 Year ended March
2020 31 2019
Net Sales/Income from Operations 169200929 123248354
Other Income 5847403 6860312
Less: Expenditure 173937369 128648284
Profit/(Loss) before taxation 1110963 1460382
Less: Tax provisions 396440 276000
Deferred Tax 0 (270891)
Prior Year Tax 0 7295
Profit/(Loss) after tax 714523 1447979

OPERATIONS REVIEW

The Income from operation for the financial year 2019-20 for the year under review wasat Rs. 1692 Lakhs as compared to Rs. 1232 Lakhs during the financial year 2018-19 showingan decrease of 37.34%. The company Profit after tax has registerd a downfall from Rs.14.47 Lakhs to Rs. 7.14 Lakhs showing an decrease of 50.66% over the previous year.

SHARE CAPITAL

During the year under review the Company has not issued any shares with or withoutdifferential voting rights nor has granted any stock options or sweat equity. The totalshares issued are 10420900 and out of which 9830650 are in demat form representing94.34% and the rest i.e. 590250 Nos representing 5.66% in physical mode.

DIVIDEND

With a view to strengthen the financial position of the Company no dividend has beenrecommended for the financial year ended March 31 2020.

TRANSFER TO RESERVES

No amount was transferred to the reserves during the financial year ended March 312020.

TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND

There were no amounts which were required to be transferred to the Investor Educationand Protection Fund by the Company.

DIRECTORS AND KEY MANEGERIAL PERSONNEL

As per Section 152 of the Companies Act 2013 Shri Jikesh Kiritbhai Shah shall retireby rotation at the ensuing Annual General Meeting of the Company and being eligible mayoffer himself for re-appointment. The Board recommends his re-appointment at the ensuingAnnual General Meeting. The Whole Time Directors and the Independent Directors of theCompany are not considered for the purpose of retirement by rotation.

In view of the applicable provisions of the Companies Act 2013 the Company ismandatorily required to appoint whole time KMPs. There is no change during the periodunder review.

MEETINGS OF THE BOARD OF DIRECTORS

During the financial year 2019-2020 4 Meetings of the Board of Directors of theCompany (1) meeting of the Audit Committee and (1) meeting of the Nomination andRemuneration Committee were held.

The details of Board Meetings are given below:

Date Serial Number Board Strength No. of Directors Present
30th May 2019 01/2019-2020/BM 4 4
07th September 2019 02/2019-2020/BM 4 4
12th November 2019 03/2019-2020/BM 4 4
3rd March 2020 04/2019-2020/BM 4 4

The details of the Audit Committee Meetings are given below:

Date Serial Number Committee Strength No. of Directors Present
4th March 2020 01/2019-2020/AC 3 3

The details of the Nomination and Remuneration Committee Meetings are given below:

Date Serial Number Committee Strength No. of Directors Present
7th September 2020 01/2019-2020/NRC 3 3

DISCLOSURE OF ANNUAL RETURN

The extract of Annual Return pursuant to the provisions of Section 92(3) of theCompanies Act 2013 and Rule 12 of the Companies (Management and administration) Rules2014 for the financial year ended 31st March 2020 is furnished in Form MGT-9and is attached as

"ANNEXURE I" and forms part of this report. The web address of theCompany where the Annual Return has been placed is as follows: www.mrcexim.co.in

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134[3][c] read with Section 134(5) of the Companies Act 2013 theBoard of Directors to the best of their knowledge and ability confirm that:

a. in the preparation of the annual accounts the applicable accounting standards havebeen followed and in case of any material departures proper explanations have been givenfor the same in the accounts itself;

b. the directors have 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/loss of the Company for that period;

c. the directors have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;

d. the directors have prepared the annual accounts on a going concern basis;

e. the directors have devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems were adequate operating effectively;

f. Being a listed company the directors have laid down internal financial controls tobe followed by the company and that such internal financial controls are adequate and wereoperating effectively.

DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUBSECTION (12) OF SECTION 143OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT

No frauds were reported by the Company's Statutory / Cost / Internal / SecretarialAuditors during the year under review.

DECLARATION BY INDEPENDENT DIRECTORS

All Independent Directors have submitted their disclosures to the Board that theyfulfill all the requirements as stipulated in Section 149(6) of the Companies Act 2013read with SEBI Listing Regulations so as to qualify themselves to be appointed asIndependent Directors under the provisions of the Companies Act 2013 and SEBI ListingRegulations.

COMPANY S POLICY RELATING TO DIRECTORS APPOINTMENT PAYMENT

OF REMUNERATION AND DISCHARGE OF THEIR DUTIES

In accordance with the provision of Section 178 of the Companies Act 2013 the Boardhas constituted Nomination and Remuneration Committee (NRC). The Board on recommendationof

NRC had approved a policy setting out the criteria for determining qualificationspositive attributes independence of Directors and other matters provided under Section178(3) of the Act. The salient features/ changes in the policy are attached herewith as "Annexure-II".For viewing the complete policy you may kindly visit the following web- address ofthe Company: www.mrcexim.co.in

AUDITORS

STATUTORY AUDITORS

Pursuant to the provisions of section 139 of the Companies Act 2013 and the Companies(Audit and Auditors) Rules 2014 M/s. A. Puri & Co. Chartered Accountants bearingRegistration No.108231W hold office up to the conclusion of the Annual General meeting tobe held in the year 2022. The Company has received a certificate from the said auditorsthat they are eligible to hold office as the Auditors of the company.

SECRETARIAL AUDITORS

Pursuant to the provisions of Section 204 of the Companies Act 2013 and the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Company hasappointed Ms. Charu Golash (Mem No.-7325) to undertake the Secretarial Audit of theCompany. The Secretarial Audit Report is annexed herewith as "Annexure-III" andforms an integral part of this report.

There are no qualifications reservations or adverse remark or disclaimer made by theauditor in their Report.

EXPLANATION OR COMMENTS ON QUALIFICATIONS RESERVATIONS OR ADVERSE REMARKS ORDISCLAIMERS MADE BY THE STATUTORY AUDITORS COST AUDITORS AND SECRETARIAL AUDITOR IN THEIRREPORTS

There are no qualifications reservations or adverse remarks or disclaimers made by theAuditors in their report. The observations of the Statutory Auditors when read togetherwith the relevant notes to the accounts and accounting policies are self explanatory.

The Secretarial Audit report is annexed herewith as "Annexure-III".The observation made by the Secretarial Auditors in their report for the financial yearended 31st March 2020 read with the explanatory notes therein are selfexplanatory and therefore do not call for any further explanation or comments.

The Cost audit of the Company has not been conducted for the financial year 2019-2020as provisions of Section 148 of the Companies Act 2013 are not applicable on the Company.

MAINTENANCE OF COST RECORDS

Maintenance of cost records as specified under Section 148(1) of the Act is notrequired by the Company and accordingly such accounts and records are not made andmaintained by the Company.

PARTICULARS OF LOANS GUARANTEES AND INVESTMENTS UNDER SECTION 186

During the year under review the Company has not given any loans or guarantees or madeinvestments under Section 186 of the Companies Act 2013.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

All related party transactions that were entered into during the financial year endedMarch 31

2020 were on an arm's length basis and were in the ordinary course of business.Therefore the provisions of Section 188 of the Companies Act 2013 were not attracted.Further there are no materially significant related party transactions during the yearunder review made by the Company with Promoters Directors Key Managerial Personnel orother designated persons which may have a potential conflict with the interest of theCompany at large. Thus disclosure in Form AOC-2 is not required.

STATE OF THE COMPANY S AFFAIRS AND FUTURE OUTLOOK

The Company is engaged in the business of Trading of Metals and Ferrous Alloys. TheCompany is being optimistic about its future activities and aims higher profits withincreased revenue in the years to come.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANYBETWEEN THE END OF THE FINANCIAL YEAR AND THE DATE OF THIS REPORT

There were no material changes and commitments affecting the financial position of thecompany between the end of the financial year and the date of this report.

DETAILS OF CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS ANDOUTGO

The particulars as required under the provisions of Section 134(3) (m) of the CompaniesAct 2013 read with the Rule 8 of the Companies (Account) Rules 2014 in respect ofConservation of Energy Technology Absorption Foreign Exchange Earnings and Outgo etc arefurnished below:

(A) Conservation of energy: Not Applicable

Steps taken or impact on conservation of energy

Steps taken by the Company for utilizing alternate sources of energy

Capital Investment in energy conservation equipments

(B) Technology Absorption: Not Applicable

Efforts made towards technology absorption

Benefits derived like product improvement cost reduction product development orimport substitution

In case of imported technology (imported during the last three years reckoned from thebeginning of the financial year):

Details of technology imported Year of import

Whether technology has been fully absorbed

If not fully absorbed areas where absorption has not taken place and the reasonsthereof

Expenditure incurred in Research and Development

(C) Foreign Exchange Earnings and Outgo:

During the year under review the Company has neither earned nor used any foreignexchange.

DISCLOSURE FOR DEVELOPMENT AND IMPLEMENTATION OF THE RISK MANAGEMENT POLICY

Risks are events situations or circumstances which may lead to negative consequenceson the

Company's business. Risk management is a structural approach to manage uncertainty. Aformal approach to Risk Management is being adopted by the Company and key risk will nowbe managed within unitary framework. The Risk Management process in our businessoperations over the period of time will become embedded into the Company's businesssystems processes such that our responses to risks remain current and dynamic.

DISCLOSURES RELATING TO CORPORATE SOCIAL RESPONSIBILTY

The provisions of Section 135 of the Companies Act 2013 are not applicable to theCompany for the year under review.

ANNUAL EVALUATION OF PEFORMANCE OF THE BOARD

During the year in terms of the requirements of the Companies Act 2013 the Boardcarried out the evaluation of the Board as a whole Board Committees and Directors. Theevaluation process focused on various aspects of the functioning of the Board andCommittees such as composition of the Board and Committees experience and competenciesperformance of specific duties and obligations etc. A separate exercise was carried out toevaluate the performance of individual Directors on parameters such as attendancecontribution and independent judgement.

Based on the outcome of the evaluation the Board and Committees have agreed on variousactions to further improve the effectiveness and functioning of the Board and Committees.

REPORT ON THE HIGHLIGHTS OF PERFORMANCE OF SUBSIDIARIES ASSOCIATES AND JOINT VENTURECOMPANIES AND THEIR CONTRIBUTION TO THE OVERALL PERFORMANCE OF THE COMPANY DURING THEPERIOD UNDER REVIEW

During the year under the review the Company does not have any Associate Subsidiaryor a Joint Venture.

CHANGE IN NATURE OF BUSINESS DURING THE YEAR

During the year under the review there were no changes in the nature of business ofthe Company.

DEPOSITS

The Company has not accepted any deposits during the year under review.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS ORTRIBUNALS

No orders have been passed by any Regulator or Court or Tribunal which can have impacton the going concern status and the Company's operations in future.

INTERNAL FINANCIAL CONTROL SYSTEM

The Company has in place adequate systems of internal financial control commensuratewith its size and nature of operations. The system of internal controls ensures that allactivities are monitored and controlled against any unauthorized use or disposition ofassets and that the transactions are authorized and reported correctly.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PROHIBITION PREVENTIONAND REDRESSAL) ACT 2013

The Company has in place an Anti-Sexual Harassment Policy in line with the requirementsof The Sexual Harassment of Women at Workplace (Prevention Prohibition and Redressal)Act 2013. Internal Complaints Committee (ICC) has been set up to redress complaintsreceived regarding sexual harassment.

The following is a summary of sexual harassment complaints received and disposed offduring the year 2019-2020:

No. of complaints received: Nil No. of complaints disposed off: Nil

DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM FOR DIRECTORS AND EMPLOYEES

The Company has established Whistle Blower Policy for Directors and employees to reportgenuine concerns to deal with instances of fraud and mismanagement if any and to ensurea clean and transparent environment for conducting business and also ensures adequatesafeguards against victimization of persons who use such mechanism.

The Company is committed to adhere to the highest standards of ethical moral and legalconduct of business operations.

PARTICULARS OF EMPLOYEES

There were no employees of the Company during the financial year ended 31stMarch 2020 and therefore the Company need not disclose the details required to bementioned under Section 197 of the Act read with rule 5(2) of the Companies (Appointmentand Remuneration of Managerial Personnel) Rules 2014.

CORPORATE GOVERNANCE

As per Regulation 15 (2) of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 para C of Schedule V relating to Corporate Governance Report shall notapply to company listed on SME Exchange. The Company being a company listed on BSE SMEPlatform preparation of corporate governance is not applicable.

MANAGEMENT DISCUSSION AND ANALYSIS

In terms of the Regulation 34 read with Schedule V of SEBI (LODR) Regulations 2015Management Discussion and Analysis is set out in the Annual Report as "Annexure-IV".

SECRETARIAL STANDARDS:

During the year under review the Company has complied with the applicable SecretarialStandards.

ACKNOWLEDGEMENTS

The Directors would like to express their sincere appreciation for the assistance andco-operation received from the financial institutions banks Government authoritiescustomers vendors and members during the year under review.

FOR MRC EXIM LIMITED SD/-

Jikesh Shah Kiritlumar Madhavlal Shah Praful Indarchand Jain
DIN: 02809371 DIN: 02764071 CFO
DIRECTOR Managing Director

DATE: 12.09.2020 PLACE: MUMBAI

FORM NO. MGT-9

EXTRACT OF ANNUAL RETURN as on the financial year ended on 31.03.2020

 

[Pursuant to section 92 (3) of the Companies Act 2013 and rule 12(1) of the Companies(Management & Administration) Rules 2014]

I. REGISTRATION AND OTHER DETAILS:

(i) Corporate Identification Number (CIN) L74999MH2015PLC269095
(ii) Registration Date 12.10.2015
(iii) Name of the Company MRC EXIM LIMITED
(iv) Category/Sub-category of the Company Public Company Limited by Shares/Indian Non-Government Company
(v) Address of the Registered office & contact details No.4 Sawant Sadan No.5 Nehru Road Vile Parle East Mumbai - 400057
(vi) Whether listed company Yes on BSE SME Platform
(vii) Name Address and Contact details of the Registrar and Transfer Agent if any M/s. Purva Share Registry Private Limited Unit no. 9 Shiv Shakti Ind. Est J .R. Boricha Marg Opp. Kasturba Hospital Lane Lower Parel (E) Mumbai 400 011 Tel No.: 91-22-2301 2518 / 6761

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

All the business activities contributing 10 % or more of the total turnover of thecompany shall be stated:-

Sl. No. Name and Description of main products/ services NIC Code of the Product/ service % to total turnover of the company
1 Trading of Metals and Ferrous Alloys 2720 100.00

III. PARTICULARS OF HOLDING SUBSIDIARY AND ASSOCIATE COMPANIES

Sl. No. NAME AND ADDRESS OF THE COMPANY CIN/GLN HOLDING/SU BSIDIARY/AS SOCIATE % of shares held Applicable Section
1 Company does not have any Holding Subsidiary or Associate Company N.A.

IV. SHARE HOLDING PATTERN (Equity share capital breakup as percentage of Total Equity)

 

(i) Category-wise Share Holding

Category of Shareholders No. of Shares held at the beginning of the year (As on 01.04.2019) No. of shares held at the end of the year (As on 31.03.2020) % Change during the year
Demat Physical Total % of Total Shares Demat Physical Total % of Total Shares
A. Promoters
(1) Indian
a) Individual/ HUF 3320200 0 3320200 31.86 3370200 0 3370200 32.34 1.51
b) Central Govt. 0 0 0 0.00 0 0 0 0.00 0.00
c) State Govt(s) 0 0 0 0.00 0 0 0 0.00 0.00
d) Bodies Corp. 0 0 0 0.00 0 0 0 0.00 0.00
e) Banks / FI 0 0 0 0.00 0 0 0 0.00 0.00
f) Any Other 0 0 0 0.00 0 0 0 0.00 0.00
Sub-total (A) (1):- 3320200 0 3320200 31.86 3370200 0 3370200 32.34
(2) Foreign
a) NRIs- Individuals 0 0 0 0.00 0 0 0 0.00 0.00
b) Other Individuals 0 0 0 0.00 0 0 0 0.00 0.00
c) Bodies Corp. 0 0 0 0.00 0 0 0 0.00 0.00
d) Banks / FI 0 0 0 0.00 0 0 0 0.00 0.00
e) Any Other 0 0 0 0.00 0 0 0 0.00 0.00
Sub-total (A) (2):- 0 0 0 0 0 0 0 0
Total shareholding of
Promoter (A)=(A)(1)+(A)(2) 3320200 0 3320200 31.86 3370200 0 3370200 32.34
B. Public Shareholding
(1) Institutions
a) Mutual Funds 0 0 0 0.00 0 0 0 0.00 0.00
b) Banks / FI 0 0 0 0.00 0 0 0 0.00 0.00
c) Central Govt. 0 0 0.00 0 0 0 0.00 0.00
d) State Govt(s) 0 0 0 0.00 0 0 0 0.00 0.00
e) Venture Capital Funds 0 0.00 0 0.00
0 0 0 0.00 0 0 0 0.00 0.00
f) Insurance Companies 0 0 0 0.00 0 0 0 0.00 0.00
g) FIIs 0 0 0.00 0 0 0 0.00 0.00
h) Foreign Venture Capital 0 0.00 0 0.00
Funds 0 0 0 0.00 0 0 0 0.00 0.00
i) Others (specify) 0 0 0 0.00 0 0 0 0.00 0.00
Sub-total (B)(1):- 0 0 0 0.00 0 0 0 0
(2) Non-Institutions
a) Bodies Corp.
i) Indian 0 0 0 0.00 0 0 0 0.00 0.00
ii) Overseas 0 0 0 0.00 0 0 0 0.00 0.00
b) Individuals 0 0.00 0 0.00
i) Individual shareholders holding nominal share capital upto Rs. 2 lakh 1784000 17.12 1528350 14.67
0 0.00 0 0.00
0 0.00 0 0.00
1784000 0 0 0.00 1528350 0 0 0.00 -14.33
ii) Individual shareholders holding nominal share capital in excess of Rs 2 lakh 4351092 41.75 3584350 34.40
0 0.00 0 0.00
0 0.00 0 0.00
3760842 590250 0 0.00 2994100 590250 0 0.00 -17.62
c) Others (HUF) 965608 0 965608 9.27 1938000 0 1938000 18.60 100.70
Sub-total (B)(2):- 6510450 590250 7100700 68.14 6460450 590250 7050700 67.66
Total Public Shareholding
(B)=(B)(1)+(B)(2) 6510450 590250 7100700 68.14 6460450 590250 7050700 67.66
C. Shares held by Custodian for GDRs & ADRs Grand Total (A+B+C) 0 0 0 0.00 0 0 0 0.00
9830650 590250 10420900 100 9830650 590250 10420900 100

(ii) Shareholding of Promoters

Sl. No. Shareholder's Name

Shareholding at the beginning of the year

Shareholding at the end of the year

No. of Shares % of total Shares of the company % of Shares Pledged / encumbered to total shares No. of Shares % of total Shares of the Company % of Shares Pledged / encumbered to total shares % change in shareholding during the year
1 KIRITKUMAR MADHAVLAL SHAH 1657000 15.90 0.00 1657000 15.90 0.00 0.00
2 CHANDU JAIN 522750 5.02 0.00 522750 5.02 0.00 0.00
3 SANTOSH DOULAT PASTE 501250 4.81 0.00 501250 4.81 0.00 0.00
4 HEMALI HEMANT SHAH 488700 4.69 0.00 488700 4.69 0.00 0.00
5 JIKESH KIRITBHAI SHAH 100000 0.96 0.00 100000 0.96 0.00 0.00
6 JIKESH K SHAH 100000 0.96 0.00 100000 0.96 0.00 0.00
7 SANGEETA CHANDU JAIN 500 0.00 0.00 500 0.00 0.00 0.00
Total 3370200 32.34 0.00 3370200 32.34 0.00

(iii) Change in Promoters' Shareholding (please specify if there is no change)

Sl.

Shareholding at the beginning of the year

Cumulative Shareholding during the year

No. of shares % of total Shares of the Company No. of shares % of total Shares of the Company
At the beginning of the year 3370200 32.34 3370200 32.34
Changes during the year 0 0.00 0 0.00
At the end of the year 3370200 32.34 3370200 32.34
There is NO change in the shareholding of Promoters during the year.

(iv) Shareholding Pattern of top ten Shareholders (other than Directors Promoters andHolders of GDRs and ADRs):

Sl. No. Name

Shareholding at the beginning of the year

Cumulative Shareholding during the year

For each of the Top 10 shareholders No. of shares % of total shares of the company No. of shares % of total shares of the company
1 ESPS FINSERVE PRIVATE LIMITED 1056000 10.13 1056000 10.13
2 CHOICE EQUITY BROKING PRIVATE LIMITED 472000 4.53 472000 4.53
3 PRAKASH BHASKAR SHETTY 379200 3.64 379200 3.64
4 BHARAT MALHOTRA 352000 3.38 352000 3.38
5 DHANANJAY V. PATEL 296900 2.85 296900 2.85
6 ANAGHA PRAKASH SHETTY 290000 2.78 290000 2.78
7 SHEETAL HIMMATBHAI DESAI 280000 2.69 280000 2.69
8 RAJWANT PARMANAND SINGH 208000 2.00 208000 2.00
9 KALPESH V MEHTA 200000 1.92 200000 1.92
10 KUMARPAL MEHTA 200000 1.92 200000 1.92

(v) Shareholding of Directors and Key Managerial Personnel

Sl. No.

Shareholding at the beginning of the year

Cumulative Shareholding during the year

For Each of the Directors and KMP No. of shares % of total Shares of the Company No. of shares % of total Shares of the Company
1 KIRITKUMAR MADHAVLAL SHAH
At the beginning of the year 1657000 15.90 1657000 15.90
Changes during the year 0 0.00 0 0.00
At the end of the year 1657000 15.90 1657000 15.90
2 JITENDRA DHANARAJ JAIN
At the beginning of the year 0 0.00 0 0.00
Changes during the year 0 0.00 0 0.00
At the end of the year 0 0.00 0 0.00
3 JIKESH KIRITBHAI SHAH
At the beginning of the year 100000 0.96 100000 0.96
Changes during the year 0 0.00 0 0.00
At the end of the year 100000 0.96 100000 0.96
4 NILAMBEN VIJAYKUMAR MEHRA
At the beginning of the year 0 0.00 0 0.00
Changes during the year 0 0.00 0 0.00
At the end of the year 0 0.00 0 0.00
5 PRAFUL INDARCHAND JAIN
At the beginning of the year 0 0.00 67200 0.64
Changes during the year 0 0.00 0 0.00
At the end of the year 0 0.00 67200 0.64

V. INDEBTEDNESS

Indebtedness of the Company including interest outstanding/accrued but not due forpayment

Secured Loans excluding Deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount 9254034.00 14454893.00 0.00 23708927.00
ii) Interest due but not paid 0.00 0.00 0.00 0.00
iii) Interest accrued but not due 0.00 0.00 0.00 0.00
Total (i+ii+iii) 9254034.00 14454893.00 0.00 23708927.00
Change in Indebtedness during the financial year
Addition 0.00 0.00 0.00 0.00
Reduction 9254034.00 10138700.00 0.00 19392734.00
Net Change -9254034.00 -10138700.00 0.00 -19392734.00
Indebtedness at the end of the financial year
i) Principal Amount 0.00 4316193.00 0.00 4316193.00
ii) Interest due but not paid 0.00 0.00 0.00 0.00
iii) Interest accrued but not due 0.00 0.00 0.00 0.00
Total (i+ii+iii) 0.00 4316193.00 0.00 4316193.00

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. Remuneration to Managing Director Whole-time Directors and/or Manager:

Sl. No. Particulars of Remuneration

Name of MD/WTD/ Manager

Total Amount
Name of Directors KIRITKUMAR MADHAVLAL SHAH NIL NIL
1 Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act 1961 - - - 0.00
(b) Value of perquisites u/s 17(2) Income-tax Act 1961 - - - 0.00
(c) Profits in lieu of salary under section 17(3) Income- tax Act 1961 0.00
- - -
2 Stock Option - - - 0.00
3 Sweat Equity - - - 0.00
4 Commission - - - 0.00
- as % of profit - - - 0.00
- others specify - - - 0.00
5 Others please specify - - - 0.00
Total (A) - - - 0.00
Ceiling as per the Act - - - -

 

B. Remuneration to other Directors:

Sl. No. Particulars of Remuneration

Name of Directors

Total Amount
Name of Directors JITENDRA DHANARAJ JAIN JIKESH KIRITBHAI SHAH NILAMBEN VIJAYKUMAR MEHRA
1 Independent Directors
Fee for attending board committee meetings 0.00 0.00 0.00 0.00
Commission 0.00 0.00 0.00 0.00
Others please specify 0.00 0.00 0.00 0.00
Total (1) 0.00 0.00 0.00 0.00
2 Other Non-Executive Directors
Fee for attending board committee meetings 0.00 0.00 0.00 0.00
Commission 0.00 0.00 0.00 0.00
Others please specify 0.00 0.00 0.00 0.00
Total (2) 0.00 0.00 0.00 0.00
Total (B)=(1+2) 0.00 0.00 0.00 0.00
Total Managerial Remuneration 0 0 0 0.00
Overall Ceiling as per the Act 0 0 0 -

 

C. Remuneration to key managerial personnel other than MD/MANAGER/WTD

SN. Particulars of Remuneration CEO Key Managerial Personnel CFO Total Amount
Company Secretary
1 Gross salary 0.00 120000.00 0.00 120000.00
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act 1961 0.00 0.00 0.00 0.00
(b) Value of perquisites u/s 17(2) Income-tax Act 1961 0.00 0.00 0.00 0.00
(c) Profits in lieu of salary under section 17(3) Income- tax Act 1961 0.00 0.00 0.00 0.00
2 Stock Option 0.00 0.00 0.00 0.00
3 Sweat Equity 0.00 0.00 0.00 0.00
4 Commission 0.00 0.00 0.00 0.00
- as % of profit 0.00 0.00 0.00 0.00
- others specify 0.00 0.00 0.00 0.00
5 Others please specify 0.00 0.00 0.00 0.00
Total 0.00 120000.00 0.00 120000.00

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Type Section of the Companies Act Brief Description Details of Penalty / Punishment/ Compounding fees imposed Authority [RD / NCLT/ COURT] Appeal made if any (give Details)
A. COMPANY
Penalty NIL NIL NIL NIL NIL
Punishment NIL NIL NIL NIL NIL
Compounding NIL NIL NIL NIL NIL
B. DIRECTORS
Penalty NIL NIL NIL NIL NIL
Punishment NIL NIL NIL NIL NIL
Compounding NIL NIL NIL NIL NIL
C. OTHER OFFICERS IN DEFAULT
Penalty NIL NIL NIL NIL NIL
Punishment NIL NIL NIL NIL NIL
Compounding NIL NIL NIL NIL NIL

for and on behalf of the Board of Directors

Jikesh Shah KiritbhaiShah
Director Managing Director
Sd/- Sd/-

Place: Mumbai

Date: 12th Day of September 2020

.