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New Light Apparels Ltd.

BSE: 540243 Sector: Others
NSE: N.A. ISIN Code: INE835U01019
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NSE 05:30 | 01 Jan New Light Apparels Ltd
OPEN 32.95
PREVIOUS CLOSE 33.00
VOLUME 6
52-Week high 50.80
52-Week low 24.45
P/E 73.33
Mkt Cap.(Rs cr) 7
Buy Price 35.60
Buy Qty 5.00
Sell Price 30.40
Sell Qty 50.00
OPEN 32.95
CLOSE 33.00
VOLUME 6
52-Week high 50.80
52-Week low 24.45
P/E 73.33
Mkt Cap.(Rs cr) 7
Buy Price 35.60
Buy Qty 5.00
Sell Price 30.40
Sell Qty 50.00

New Light Apparels Ltd. (NEWLIGHTAPPARE) - Director Report

Company director report

To

The Members

Your Board takes pleasure in presenting the 24th Annual Report together withthe Audited Statement of Annual Accounts for the financial year ended 31stMarch 2019.

FINANCIAL SUMMARY

The financial highlights for the period under review are as follows:

(Rs. in 000's)
Particulars 31.03.2019 31.03.2018
Revenue from Operations 225503.87 119945.92
Other Income 74.96 201.15
Total Income 225578.82 120147.07
Less: Expenses 221672.25 118429.70
Profit /loss before Tax 3906.57 1717.37
Less: Tax Expenses (a) Current Tax (1050.22) (511.49)
Tax for earlier years 4.51 -
Deferred Tax income 46.99 41.31
Profit /loss for the year 2907.85 1247.19

* Previous year figures have been regrouped/re-arranged wherever necessary as per IndAS

COMPANY PERFORMANCE

The financial statements have been prepared as per the IND-AS prescribed by theInstitute of Chartered Accountants of India (ICAI).

During the year under review the overall performance of the Company for the financialyear ended 31st March 2019 was satisfactory. The profits of company earnedduring the year were amounted to Rs. 2907850/-. However your Directors are confidentthat the company will do much better in future and trying its level best to furtherimprove its performance.

RESERVES

The Board of Directors of our company has decided not to transfer any amount to theReserves for the year under review.

DIVIDEND

No dividend on equity shares has been recommended by the Board for the year ended 31stMarch 2019 considering the future plans of the Company.

CHANGE IN THE NATURE OF BUSINESS. IF ANY

During the year under review there was no change in the nature of the business of theCompany.

MATERIAL CHANGES AND COMMITMENT

No material changes and commitments occurred which may affect the financial positionof the Company between the end of the financial year of the Company to which thefinancial statements relate and the date of the report.

SHARE CAPITAL

(A) Authorised Share Capital

The Authorized Share Capital of the Company is Rs. 35000000/-(Rupees Three CroreFifty Lakhs) comprising 3500000/-(Thirty Five Lakhs) Equity Shares of Rs. 10 (RupeesTen)each.

(B) Issued Subscribed and Paid -Up Share Capital

The issued subscribed and paid up equity share capital of the Company is Rs.21962300 (Rupees Two Crore Nineteen Lakhs Sixty Two Thousand Three Hundred) consistingof 2196230 (Twenty One Lakhs Ninety Six Thousands Two Hundred Thirty) Equity Shares ofRs. 10 (Rupees Ten) each.

SUBSIDIARY/IOINT VENTURES/ASSOCIATE COMPANIES AND THEIR PERFORMANCE AND FINANCIALPOSITION

The Company does not have any Subsidiaries Joint Ventures and Associate Companies.

BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

(a) Board of Directors:

In accordance with the provisions of the Section 152(6) of the Companies Act 2013 Mr.Sandeep Makkad (DIN: 01112423) will retire by rotation at the ensuing Annual GeneralMeeting of the Company and being eligible offers himself for re-appointment as ManagingDirector. The Board recommends his re-appointment.

(b) Key Managerial Personnel (KMP):

During the period there were no changes took place in the composition of the KeyManagerial Personnel.

(c) Board Evaluation

Pursuant to the Companies Act 2013 and the Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations 2015 the Board ofDirectors has carried out an annual evaluation of its own performance Board Committeesand of individual directors.

The evaluation process focused on various aspects of the board and is committees suchas the size structure composition and expertise of the board frequency of meetingseffective discharge of functions and duties by Board and Committee prescribed under thelaw and as per terms of reference in case of the committees ensuring the integrity ofthe company's accounting and financial reporting systems independent audit internalaudit and risk management systems (for Board and Audit Committee) working in theinterests of all the stakeholders of the company and such other factors.

The performance of the board and committees was evaluated by the board after seekinginputs from all the directors.

(d) Independent Directors' Declaration

As required under Section 149(7) of the Companies Act 2013 read with Schedule IV ofCompanies Act 2013 the Company has received a confirmation/declaration from each of theIndependent Directors stating that they meet the criteria of independence. The followingNon-Executive Directors of the Company are independent in terms of Section 149(6) of theCompanies Act 2013 and the Listing Regulations:

1. Mr. Sunil Grover

2. Mrs. Rishita Sethi

3. Mrs. Sudesh Katyal

NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS

During the financial year 2017-18 Eleven (11) Board Meetings were convened and held ason 04.04.2018 29.05.2018 14.08.2018 31.08.2018 07.09.2018 14.11.2018 15.11.201817.11.2018 23.11.2018 11.01.2019 and 13.02.2019. The intervening gap between theMeetings was within the period prescribed under the Companies Act 2013 and the SEBI(LODR) Regulations 2015.

CONSTITUTION OF AUDIT COMMITTEE [Section 177 of the Companies Act. 2013 and Companies(Meetings of Board and its Powers Rules 2014)]

The primary objective of the Committee is to ensure accurate and timely disclosureswith the highest levels of transparency integrity and quality of financial reporting. TheCommittee met four times during the year. As of the date of this report the Committee iscomprised of three directors namely Mr. Sunil Grover (Chairman) Mrs. Rishita Sethi andMrs. Sudesh Katyal (Members) of the Company.

Meetings

During the financial year 2018-19 Four (4) meetings of the Audit Committee were heldas detailed herein below. The gap between two meetings did not exceed four /months.

The details of the meetings held and the attendance thereat of the Members of the AuditCommittee are as detailed here in below:

ATTENDANCE

Date of meeting Mr. Sunil Grover Mr. Rishita Sethi Mr. Sudesh Katyal
29.05.2018
14.08.2018
14.11.2018
13.02.2019

NOMINATION AND REMUNERATION COMMITTEE [Section 178 of the Companies Act. 2013 andCompanies (Meetings of Board and its Powers Rules. 2014)]

Nomination and Remuneration Committee of the Board has been constituted as per section178 of the Companies Act 2013 and Rule 6 of the Companies (Meetings of Board and itsPowers) Rules 2014. The Nomination and Remuneration Committee shall determinequalifications positive attributes and independence of a director and recommend to theBoard a policy relating to the remuneration of the directors Key Managerial Personnel andother employees.

As of the date of this report the Committee is comprised of three directors namely Mr.Sunil Grover (Chairman) Mr. Rishita Sethi and Mr. Sudesh Katyal (Members) of theCommittee.

Meetings

During the financial year 2018-19 the Committee met once. The details of the meetingsheld and the attendance there at of the Members of the Nomination and RemunerationCommittee are as detailed herein below:

ATTENDANCE

Date of meeting Mr. Sunil Grover Mrs. Rishita Sethi Mrs. Sudesh Katyal
11.01.2019

STAKEHOLDER RELATIONSHIP COMMITTEE [Section 178 of the Companies Act- 2013 andCompanies (Meetings of Board and its Powers Rules 2014)]

The composition of the Stakeholders Relationship Committee (SRC) is in line with theSection 178 of the Act read with Regulation 20 of LODR.

As of the date of this report the Committee is comprised of three directors namelyMrs. Sudesh Katyal (Chairman) Mrs. Rishita Sethi and Mr. Sunil Grover (Members) of theCommittee.

It looks after the stakeholders grievances and redressal of investors' complaintsrelated to transfer of shares non receipt of balance sheet non receipt of dividend etc.

Meetings

During the financial year 2018-19 the Committee has met Nine (9) times in the year.The details of the meeting held and attendance there at of the Members of theStakeholders' Relationship Committee are as detailed herein below:

ATTENDANCE

Date of meeting Mrs. Sudesh Katyal Mrs. Rishita Sethi Mr. Sunil Grover
01.01.2019
10.01.2019
11.01.2019
12.01.2019
01.02.2019
25.02.2019
01.03.2019
11.03.2019
18.03.2019

SEPARATE MEETING OF INDEPENDENT DIRECTORS

Pursuant to the Provisions of Section 149(6) read with Schedule IV to the CompaniesAct 2013 a separate meeting of the Independent directors is required to be held duringthe year to inter-alia

a) reviewed the performance of non-independent directors and the board of directors asa whole;

b) reviewed the performance of the Chairperson of the Company taking into account theviews of executive directors and non-executive directors;

c) assessed the quality quantity and timeliness of flow of information between themanagement of the Company and the Board of Directors that is necessary for the Board ofDirectors to effectively and reasonably perform their duties.

During the year one meeting of the Independent Directors was held on 18.03.2019 withoutthe attendance of non independent directors and members of management. All the independentdirectors attended the meeting.

PARTICULARS OF EMPLOYEES

Information in accordance with the provisions of Section 197(12) of the Companies Act2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014 regarding employees is given in "Annexure-1".

DIRECTORS' RESPONSIBILITY STATEMENT

The Directors confirm that in the preparation of the Annual Accounts of the Company forthe year ended 31st March 2019 that:

i. In the preparation of the accounts the applicable accounting standards have beenfollowed with proper explanation relating to material departures

ii. 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 ended 31stMarch 2019 and of the profit of the Company for that year;

iii. the Directors had taken proper and sufficient care was taken for the maintenanceof adequate accounting records in accordance with the provisions of the Companies Act2013 for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities

iv. the Directors have prepared the Annual Accounts on a "going concern"basis.

v. the directors being a Listed Company had laid down internal financial controls

to be followed by the company and that such internal financial controls are adequateand were operating effectively.; 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 operatingeffectively.

ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS

The Company has put in place necessary internal financial controls which are adequateand are operating effectively. The controls are adequate for ensuring the orderly andefficient conduct of the business completeness of accounting records and timelypreparation of reliable financial information besides adherence to the Company'spolicies safeguarding of assets prevention and detection of frauds and errors accuracyetc.

DETAILS OF FRAUD REPORTED BY AUDITORS

No fraud has been noticed or reported by the Auditors including cost auditor andsecretarial auditor of the Company as per Section 134 (3) (ca) of the Companies Act 2013read with Companies (Amendment) Act 2015.

PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS

During the year under review the Company has not given loan Guarantees or investedunder Section 186 of the Companies Act 2013 read with Companies (Meetings of Board andits Powers) Rules 2014.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

Related party transactions entered during the period under review are disclosed in theNotes 24 of the Financial Statements of the company for the financial year ended March 312019. These transactions entered were at an arm's length basis and in the ordinary courseof business. There were no materially significant related party transactions with theCompany's Promoters Directors Management or their relatives which could have had apotential conflict with the interests of the Company.

The Policy on materiality of related party transactions and dealing with related partytransactions as approved by the Board may be accessed on the Company's website.

CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

In pursuance to section 134 of the Companies Act 2013 comments are required inrelation to Conservation of Energy Technology Absorption as the company is engaged inmanufacturing activities.

The details forming part of the extract of Conservation of Energy TechnologyAbsorption is annexed herewith as "Annexure 2".

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALSIMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE

Your directors confirm that no significant and/or material order(s) had been passedagainst the Company during the financial year 2018-19 which may adversely impact thestatus of ongoing concern and operations in future of the Company.

POLICIES

We seek to promote and follow the highest level of ethical standards in all ourbusiness transactions guided by our value system. The SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 mandated the formulation of certain policiesfor all listed companies. All our corporate governance policies are available on ourwebsite zeliewellers@yahoo.co.in

The policies are reviewed periodically by the Board and updated based on need and newcompliance requirement. In addition to its Code of Conduct and Ethics key polices thathave been adopted by the company are as follows:

S. No. Name of the Policy Brief Description
1. Whistle blower Policy (Policy on Vigil Mechanism) Pursuant to the provisions of Section 177 (9) & (10) of the Companies Act 2013 read with Rule 7 of Companies (Meetings of Board and its Powers)
[Regulation 22 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015] Rules 2014 and Regulation 22 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015 the Company has adopted a Whistle Blower Policy which provides for a vigil mechanism that encourages and supports its Directors and employees to report instances of unethical behaviour actual or suspected fraud or violation of the Company's Code of Conduct or Ethics Policy. It also provides for adequate safeguards against victimisation of persons who
use this mechanism and direct access to the Chairman of the Audit Committee in exceptional cases.
2. Nomination Remuneration & Evaluation policy The Board has on the recommendation of the Nomination & Remuneration Committee framed a
[Regulation 19 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015] Nomination Remuneration & Evaluation Policy which inter-alia lays down the criteria for identifying the persons who are qualified to be appointed as Directors and/or Senior Management Personnel of the Company along with the criteria for determination of qualifications positive attributes independence of a director and remuneration of Directors KMPs and other employees and their evaluation and includes other matters as prescribed under the provisions of Section 178 of Companies Act 2013 and Regulation 19 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015.The same is attached in the report as "Annexure 3".
3. Prevention. Prohibition & Redressal of Sexual Harassment of Women At Workplace The Company has in place a Policy on Prevention Prohibition & Redressal of Sexual Harassment of Women at Workplace. The primary objective of the said Policy is to protect the women employees
from sexual harassment at the place of work and also provides for punishment in case of false and malicious representations. During the year the Company has not received any compliant of sexual harassment.
4. Risk Management Policy Your Company has formulated and adopted a Risk Management Policy.
The Board of Directors is overall responsible for identifying evaluating and managing all significant risks faced by the Company. The Risk Management Policy approved by the Board acts as an overarching statement of intent and establishes the guiding principles by which key risks are managed across the organisation.
5. Related Party Transaction Policy Related Party Transaction Policy as formulated by the Company defines the materiality of related
[Regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015] party transactions and lays down the procedures of dealing with Related Party Transactions.
6. Insider Trading Policy The Policy provides the framework in dealing with securities of the company.
7. Document Retention and Archival Policy [Regulation 9 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015] Pursuant to SEBI (LODR) Regulations 2015 it mandates that every listing entity shall formulate a policy for preservation of documents and Regulation 30(8) of the Regulations is also required to have an archival policy on archiving all information disclosed to stock exchange(s) and the same being hosted on the Company's website.
8. Materiality Disclosure Policy [Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015] Pursuant to SEBI (LODR) Regulations 2015 it mandates that every listed entity shall make disclosure of any events or information which in the opinion of the Board of Directors of the listed company is material and the same being hosted on the Company's website.

AUDITORS

Statutory Auditor and report

In terms of the Companies Act 2013 M/s. Rajan Malik & Co. Chartered Accountantswere appointed as the Statutory Auditors of the Company for a term of five years from theconclusion of this Annual General Meeting till the conclusion of 29th AnnualGeneral Meeting.

The Board of Directors after considering the recommendations of the Audit Committeeat its meeting held on 30th August 2019 has recommended the appointment ofM/s. Rajan Malik & Co. Chartered Accountants as the Statutory Auditors of theCompany for a period commencing from the conclusion of this Annual General Meeting tillthe conclusion of the 29th Annual General Meeting.

The Company has received a certificate from M/s. Rajan Malik & Co. CharteredAccountants to the effect that the appointment if made would be in accordance withlimits specified under the Companies Act 2013. As required under SEBI Regulations theyhave confirmed that they hold valid certificate issued by the Peer Review Board of theInstitute of Chartered Accountants of India.

A resolution proposing their appointment from the conclusion of this Annual GeneralMeeting till the conclusion of the 29th Annual General Meeting of the Companyat a remuneration to be fixed by the Audit Committee and/or Board of Directors and isbeing

submit at the ensuing Annual General Meeting for approval of the members. The Boardrecommends the appointment of M/s. Rajan Malik & Co. Chartered Accountants as theStatutory Auditors for approval of the members.

Secretarial Auditor and report

As required under section 204 of the Act 2013 and the Companies (Appointment andRemuneration of Managerial Personnel) Rules 2014 the Company is required to appoint aSecretarial Auditor for auditing secretarial and related records of the Company.

Accordingly M/s Parveen Rastogi & Co. Practicing Company Secretaries wasappointed as Secretarial Auditor for carrying out the secretarial audit of the Company forthe Financial Year 2018-19. The secretarial audit report for the financial year ended 31stMarch 2019 is annexed with the Board's report as "Annexure 4".

Internal Auditor

M/s J.K. Jain & Co. Chartered Accountant having its office at Delhi was appointedas Internal Auditor of the Company for the F.Y. 2018-19 according to Section 138 of theCompanies Act read with Companies (Accounts) Rules 2014 to carry out the roles andresponsibilities during the current financial year which are as follows:

• evaluated and provided reasonable assurance that risk management control andgovernance systems are functioning as intended and will enable the organisation'sobjectives and goals to be met.

• reported risk management issues and internal controls deficiencies identifieddirectly to the audit committee and provided recommendations for improving theorganisation's operations in terms of both efficient and effective performance.

• evaluated information security and associated risk exposures.

• evaluated regulatory compliance program with consultation from legal counsel.

EXPLANATION OR COMMENTS ON QUALIFICATIONS. RESERVATIONS OR ADVERSE REMARKS ORDISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS

The notes on account referred to in Auditor's Report are self-explanatory andtherefore do not call for any further comments under Section 134 of the Companies Act2013 read with the Companies (Accounts) Rules 2014.

The secretarial Audit Report does not contain/ contains any qualification reservationsor other remarks.

COMPLIANCE WITH SECRETARIAL STANDARDS

The Company has comply with all the applicable mandatory Secretarial Standards issuedby the Institute of Company Secretaries of India and approved by the Central Governmentunder Section 118(10) of the Companies Act 2013.

EXTRACT OF THE ANNUAL RETURN

The extract of the annual return i.e. Form MGT - 9 as prescribed under sub-section (3)of section 92 of the Companies Act 2013 read with Rule No 12 of Companies (Management andAdministration) Rues 2014 shall form part of the Board's report and are attachedherewith as "Annexure-5" to this report.

CORPORATE SOCIAL RESPONSIBILITY

Your Company does not fall under the criteria as laid down under Section 135 of theCompanies Act 2013 read with Companies (Corporate Social Responsibility Policy) Rules2014 therefore there was no requirement to constitute and formulate a committee underCorporate Social Responsibility.

LISTING REQUIREMENTS

The equity shares are presently listed on BSE Limited Mumbai. The listing fee has beenpaid to the exchange. The company has paid the annual custodial fee for the year 201920 toNational Securities Depository Limited and Central Depository Services (India) Limited onthe basis of beneficial accounts maintained by them as on 31st March 2019.

DEMATERAILIZATION OF SHARES

Equity shares of the company can be traded in dematerialized form only. The company hasestablished connectivity with National Securities Depository Limited (NSDL) and CentralDepository Services (India) Limited (CDSL) through its Registrars & Share TransferAgents. The ISIN allotted in respect of equity shares of Rs. 10/- each of the Company byNSDL/CDSL is INE835U01019.

Break up of shares in physical and demat form as on March 31 2019 is as under:

Sr. No. Particulars No. of Shares % of Shares
1. Held on dematerialized Form in CDSL 1718962 78.27%
2. Held on dematerialized Form in NSDL 200168 9.11%
3. Physical 277100 12.62%
Total 2196230 100%

MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT

As per Regulation 34 and Schedule V of the SEBI (Listing Obligations and DisclosureRequirements) Regulation 2015 the Management Discussion and Analysis report is appendedherein. The said report is part of the annual report as "Annexure-6".

CORPORATE GOVERNANCE

The Company is not required to mandatorily comply with the provision of Regulation 17to Regulation 27 of SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 (Listing Regulations 2015) as its equity share capital is less than Rs. 10 Crore andNet Worth is not exceeding Rs. 25 crores as on the last day of the previous financialyear.

MANAGING DIRECTOR/ CHIEF FINANCIAL OFFICER CERTIFICATE

In terms of the requirement of the Regulation 17(8) of the SEBI (Listing Obligation& Disclosure Requirements) Regulation 2015 the certificate from Managing Directorand Chief Financial Officer had been obtained and is attached in the said annual report as"Annexure-7"

SHARE TRANSFER SYSTEM

All transfers/transmissions/Issue of Duplicate Share certificates received areprocessed by the Registrar and Transfer Agent and are approved by the Stakeholders'Relationship Committee. Share transfers are registered and returned to the shareholderswithin the stipulated time if the documents are in order.

Pursuant to Regulation 40(9) of the Listing Regulations certificates on half yearlybasis have been issued by a Company Secretary in practice with regard to due complianceof share transfer formalities by the Company. Pursuant to SEBI (Depositories andParticipant's) Regulations 2018 certificates have also been received from a CompanySecretary in Practice for:

a. timely dematerialization of shares of the company; and

b. reconciliation of the share capital of the company by conducting a share capitalaudit on a quarterly basis.

CODE FOR PROHIBITION OF INSIDER TRADING PRACTICES

In compliance of the provisions of SEBI (Prohibition of Insider Trading) Regulations2015 the Company has formulated "Code of Practices and Procedures for FairDisclosure of Unpublished Price Sensitive Information" and "Code of Conduct toRegulate Monitor and Report Trading by Insiders". "Code of Practices andProcedures for Fair Disclosure of Unpublished Price Sensitive Information" prescribesthe framework for fair disclosure of events and occurrences that could impact pricediscovery in the market for securities of the Company and "Code of Conduct toRegulate Monitor and Report Trading by Insiders" has been formulated to regulatemonitor and report trading by employees and other connected persons of the Company.

CODE OF CONDUCT FOR THE BOARD OF DIRECTORS AND THE SENIOR MANAGEMENT PERSONNEL

The Company has adopted a Code of Conduct for all members and Senior Management of theCompany. The Code of Conduct has been posted on the website of the Company. All BoardMembers and Senior Management Personnel have affirmed compliance with the code of conduct.A declaration signed by the Managing Director is given below:

I hereby confirm that the Company has obtained all the members of the Board and SeniorManagement affirmation that they have complied with the Code of Conduct for Directors andSenior Management in respect of the Financial Year 2018-19.

SANDEEP MAKKAD MANAGING DIRECTOR

GREEN INITIATIVES

Electronic copies of the Annual Report 2018-19 and the Notice of the 11th AnnualGeneral Meeting are sent to all members whose email addresses are registered with theCompany/Depository Participant(s). For members who have not registered their emailaddresses physical copies are sent in the permitted mode.

ACKNOWLEDGEMENT

The Company would like to thank all of its Stakeholders including inter aliaSuppliers vendors Investors and Bankers and appreciation to all its customers for theirconsistent abiding support throughout the year. Your Company also records itsappreciation of the contributions made by employees at all levels. Their commitmentcooperation and support are indeed the backbone of all endeavours of the Company

BY ORDER OF THE BOARD OF DIRECTORS
FOR NEW LIGHT APPARELS LIMITED
Sd/-
SANDEEP MAKKAD
MANAGING DIRECTOR
DIN 01112423
GC-25 SHIVAJI ENCLAVE
TAGORE GARDEN
WEST DELHI-110027
DATE: 30th AUGUST 2019
PLACE: NEW DELHI