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Parshwanath Corporation Ltd.

BSE: 511176 Sector: Infrastructure
NSE: N.A. ISIN Code: INE635I01018
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NSE 05:30 | 01 Jan Parshwanath Corporation Ltd
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VOLUME 148
52-Week high 41.00
52-Week low 22.90
P/E 37.80
Mkt Cap.(Rs cr) 10
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OPEN 31.00
CLOSE 31.00
VOLUME 148
52-Week high 41.00
52-Week low 22.90
P/E 37.80
Mkt Cap.(Rs cr) 10
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Parshwanath Corporation Ltd. (PARSHWANATHCORP) - Director Report

Company director report

To

The Members

Parshwanath Corporation Limited Ahmedabad

1. COMPANY SPECIFIC INFORMATION:

1.1 FINANCIAL RESULTS

The Board of Directors hereby submits the report of the business and operations of yourcompany along with the audited financial statements for the financial year ended March31 2021.

FINANCIAL OVERVIEW:

(Amount in Rupees)

Particular 2020-21 2019-2020
Revenue from Operation 4439004 9758143
Other Income 5541967 6271673
Profit/loss before Depreciation Exceptional items and Tax Expense 3403333 8733637
Less: Depreciation - 953279
Profit / loss before Exceptional items and tax expense 3403333 7780358
Less: Exceptional items 2075888 989171
Profit /loss before tax expense 5479221 8769529
Less: Tax Expense (856214) (1408179)
Adjustment of Income Tax of Earlier Years (82344) (26406)
Profit / loss for the year(1) 4540663 7334944
Total Comprehensive Income(2) 9329 (8668)
Total (1+2) 4549992 7326276

1.2 REVIEW OF OPERATION:

The Company has incurred total profit of Rs. 4549992 as compare to profit ofRs.7326276 in the Previous Year. The Company earned revenue from operation is Rs.4439004 which is lower than earned in the previous year Rs. 9758143. Currently companydoes not have any project and major part of the earning of the company is from theinterest income.

1.3 TRANSFER TO RESERVES:

The Board of Directors of your Company has decided not to transfer any amount to theReserves for the year under review except for the Profit earned during the year which hasbeen transferred to the Surpluses Head of the Reserves & Surpluses.

1.4 DIVIDEND:

The Board of Directors of your company after considering holistically the relevantcircumstances and keeping in view the company's dividend distribution policy has decidedthat it would be prudent not to recommend any Dividend for the year under review.

1.5 MAJOR EVENTS OCCURRED DURING THE YEAR

a) State of the Company's affair:

Your company is engaged in the business of construction and development of housingprojects in India. However currently company does not have any project. Further Duringthe year under review the company was highly depended on the interest income. TheDirectors of the company are working hard to earn more profit and tremendous growth infuture.

b) Change in Nature of Business:

During the year there was no change in the nature of the business of the Company.

c) Material changes and commitments affecting the financial position of the company:

There have been no material changes and commitments which affect the financialposition of the company which have occurred between the end of the financial year of thecompany to which the financial statements relate and the date of the report.

2. GENERAL INFORMATION:

Parshwanath Corporation Limited has been offering world-class residential andcommercial properties since 1967. Our aim is to create best in the class properties thatoffer the perfect balance of opulence and elegance. We enhance the lifestyle of people byblending innovation with passion. The company has grown brick by brick and reachedtowering heights.

3. CAPITAL AND DEBT STRUCTURE:

During the year under review the company has neither issued nor bought back shares.The Capital of the company remains same as under.

Authorized Share Capital Rs.100000000 divided into10000000 shares of Rs. 10 each
Issued Share Capital Rs. 31318370 divided into 3131837 shares of Rs. 10 each
Paid Up share Capital Rs. 31318370 divided into 3131837 shares of Rs. 10 each

• The Capital of the Company consist only Equity shares.

4. CREDIT RATING

During the year the company has not issued any securities and not raised any loan whichrequires credit rating hence credit rating provisions not applicable on company and hasnot obtained any credit rating during the year.

5. INVESTOR EDUCATION AND PROTECTION FUND

The Company has not declared any dividend hence not transferred any amount to Investoreducation and Protection Fund.

6. MANAGEMENT

6.1 Directors and Key Managerial Personnel:

Board Composition:

The constitution of the Board (as on 31/03/2021) and the attendance of the Directorsare given below:

Name of the Directors Category of the Director (NE/E/ID) Designation No. of Director ship No. of Meetings attended Details of committee Presence in previous AGM
As Mem ber As Chairman
Mrs. Riddhiben R. Patel Executive Joint-Managing Director 3 6 3 0 Yes
Mr. Rushabh N. Patel Executive Managing Director 4 6 3 0 Yes
Mr. Asit A Vyas Independent Director Independent 1 6 0 3 No

Directors:

1. Appointments

There is No appointment of director in the company during the year.

2. Change in Designation:

There was no change in Designation of any directors or Key Managerial Personnel in thecompany during the year under review.

3. Resignation:

There is No Resignation of director in the company during the year.

4. Retirement:

Mrs. Riddhiben R.Patel (DIN:00047238) Joint Managing Director who retires by rotationand being eligible offers herself for re-appointment.

5. Cessation:

Mr. Ramanbhai Patel Independent Director of the company ceased to be director of thecompany with effect from 19th September2020 due to death.

6. Disclosure of relationship between directors inter se:

None of the directors are being related to each other except for Mrs. Riddhiben R.PatelJoint-Managing Director and Chief financial officer of the Company being wife ofMr. Rushabh N. Patel who is Managing Director of the Company.

6.2 Independent director:

Mr. Ramanbhai Patel Independent Director of the company ceased to be director of thecompany with effect from 19th September 2020 due to death. Company is yet to appointIndependent directors to comply with the requirement of the Companies Act 2013

6.3 Independent director's declaration:

The company has received necessary declarations from each Independent Director underSection 149(6) and 149(7) of the companies Act 2013 and regulation 16(1)(b) andregulation 25(8) of SEBI (Listing Obligations and Disclosures Requirements) Regulations2015 that they meet the criteria of independence laid down thereunder.

As on 31st March 2021 company have only one Independent Director in the board havingrich experience in his fields and they will add value to the management of the company. Anenlightened Board consciously creates a culture of Board leadership to provide a long-termvision and policy thinking in order to improve the quality of governance. The Board'sactions and decisions are aligned with the Company's best interests. The company is underprocess of appointing Independent director.

Familiarization Programme:

As per the provisions of the Companies Act 2013 and SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 the company has taken necessary steps andformed the policy on the Board's Familiarization and Remuneration Policy to get the newDirectors (including Non - Executive Directors and Independent Directors) Key ManagerialPersonnel and Senior Management familiarize habituated and their acquaintance with theatmosphere and working of the Company. The same can be finding at the website ofwww.parshwanath.co.in.

6.4 Board Meetings:

During the period under review6 (Six ) Board Meeting were held by the Board ofDirectors to transact various business items.

Sr. No Date and Day of the Board Meeting
1 Monday 29th June 2020
2 Monday 31st August2020
3 Thursday10th September2020
4 Tuesday 10th November2020
5 Saturday28th November2020
6 Thursday11th February 2021

1. Audit Committee:

a) Brief Description

The primary object of the Audit Committee is to monitor and provide an effectivesupervision of the Management's financial reporting process to ensure accurate and timelydisclosures with the highest levers of transparency integrity and quality of financialreporting. The committee oversees the work carried out in the financial reporting processby the Management the internal auditor the statutory auditor and notes the processes andsafeguards employed by each of them.

b) Constitution and Composition of Audit Committee

The Company has in accordance with the Section 177 constituted the Audit Committee. TheAudit Committee constituted and re constituted from time to time to comply with statutoryrequirement. The Audit Committee met 4 (Four) times during the last financial year on thefollowing dates:

Sr. No. Date and Day of the Meeting
1. Monday 29th June 2020
2. Thursday10th September2020
3. Tuesday 10th November2020
4. Thursday11th February 2021

The constitution of the Committee (as on 31/03/2021) and the attendance of each memberof the Committee are given below:

Name of the Member Type of Director Category No of Meeting Number of meetings attended
Mr. Asit Vyas Independent Director Chairman 4 4
Mrs. Riddhiben R. Patel Joint- Managing Director Member 4 4
Mr. Rushabh N.Patel# Managing Director Member 4 2
Mr. Ramanbhai Patel* Independent Director Chairman 2 1

# With effect from 19/09/2020.

* Upto 19/09/2020

The Audit committee consist of Mrs. Riddiben Patel Joint-Managing Director inexecutive capacity and Mr. Rushabh N. Patel Manging Dircetor in executive capacityhowever the company is yet to appoint a Non-executive Directors to properly constitute theAudit committee which consist majority number of Independent directors.

2. Nomination & Remuneration Committee

a) Constitution & Composition of Nomination & Remuneration Committee:

The Company has formulated Nomination & Remuneration Committee as per therequirement of 178(1) of the companies Act 2013. The main function of the Nomination& Remuneration Committee is to formulation and recommendation of the policy for theappointment removal performance evaluation of the directors & the consideration tobe paid to them and other matters as may be determined by the committee and the prevailingprovisions for formulation of criteria for evaluation of Independent Directors and Board.Further to recommend/review remuneration of Directors based on their performance and carryout functions as mandated by Board from time to time.

During the year under review there was no transaction occurred which requires approvalof Nomination and Remuneration committee. However one Board meeting was held during theyear on 10.11.2020.

The constitution of the Committee (as on 31/03/2021) and the attendance of each memberof the Committee are given below:

Name of the Member Type of Director Category No of Meeting Number of meetings attended
Mr. Ramanbhai Patel* Independent Director Chairman 1 0
Mr. Asit Vyas Independent Director Chairman 1 1
Mrs. Riddhiben R. Patel Joint- Managing Director Member 1 1
Mr. Rushabh Ni. Patel# Managing Director Member 1 0

# With effect from 19/09/2020.

* Upto 19/09/2020

The Nomination and Remuneration Committee consist of Mrs. Riddiben PatelJoint-Managing Director in executive capacity and Mr. Rushabh N. Patel Manging Dircetorin executive capacity however the company is yet to appoint a Non-executive Directors toproperly constitute the committee.

3. Stakeholders Relationship Committee:

The Company has formulated the Stakeholders Relationship Committee in accordance withthe Section 178(5) of the Companies Act 2013 and SEBI (Listing Obligations andDisclosures Requirements) Regulations 2015 as entered into by the Company. The functionof the Stakeholders Relationship Committee is to look into complaints if any and redressthe same expeditiously. Besides the committee approves allotment transfer &Transmission of shares Debentures issue of any new certificates on split / consolidation/ renewal etc. as may be referred to it.

During the relevant financial year 4 (Four) Committee Meetings were held as follows:

Sr. No. Date and Day of the Meeting
1. Monday 29th June 2020
2. Thursday10th September2020
3. Tuesday 10th November2020
4. Thursday11th February 2021

The constitution of the Committee as on 31/03/2021 is as under:

Name of the Member Type of Director Category Number of meeting held Number of meetings attended
Mr. Ramanbhai Patel* Independent Director Chairman 4 1
Mr. Asit Vyas Independent Director Chairman 4 4
Mrs. Riddhiben R. Patel Joint- Managing Director Member 4 4
Mr. Rushabh N. Patel# Managing Director Member 4 3

# With effect from 19/09/2020.

* Upto 19/09/2020

Company has not received Complain from shareholders of the Company during the year ofreview which is yet pending. However the Company has taken necessary reply as and whenrequired.

The details of the Compliance Officer and the details of complaints received / solved /unsolved during the year are as follows:

Compliance Officer:

Mrs. Ankita Bang Company Secretary

Mail Id: ltd@parshwanath.co.in

Contact No.: 079-27540647

Compliant received during the year* Compliant solved during the year Compliant pending during the year*
0 0 0

Note: The Company had not received the investor complaint.

4. Independent Directors' Meeting:

The Independent Directors of the Company not met during the year without the attendanceof non - Independent Directors and members of the Board. The Independent Directorsreviewed the performance of the non-independent Directors and Board as whole. theperformance of the Chairman taking into account the views of executive Directors andnon-executive Directors and assessed the quality quantity and timeline of flow ofinformation between company management and Board.

6.6 Recommendation of Audit Committee:

There are no transactions which are recommended by the audit committee and not acceptedby the board of the directors of the company.

6.7 Company's Policy on Directors appointment and remuneration:

The current policy is to have an appropriate mix of executive and independent directorsto maintain the independence of the board and separate its functions of governance andmanagement. The policy of the Company on directors' appointment and remunerationincluding the criteria for determining qualifications positive attributes independenceof a director and other matters as required under sub-section (3) of Section 178 of theCompanies Act 2013 is available at registered office for review.

There has been no change in the policy since last fiscal. We affirm that theremuneration paid to the directors is as per the terms laid out in the Nomination andRemuneration Policy of the Company.

Code of conduct:

The Company has already implemented a Code of Conduct for all Board Members and SeniorManagements of the company in compliance with SEBI (Listing Obligations and DisclosuresRequirements) Regulations 2015 (earlier Listing Agreement). But since the operations ofthe Company were not much the application of the code of conduct was limited to thatextent. The code of conduct of the company can be found on the website of the company atwww.parshwanath.com.

6.8 Board Evaluation:

During the year the Board adopted a formal mechanism for evaluating its performanceand as well as that of its Committees and individual Directors including the Chairman ofthe Board.

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

• Attendance and participation in the Meetings and timely inputs on the minutes ofthe meetings.

• Adherence to ethical standards & code of conduct of Company and disclosureof non - independence as and when it exists and disclosure of interest.

• Raising of valid concerns to the Board and constructive contribution toresolution of issues at meetings.

• Interpersonal relations with other directors and management.

• Objective evaluation of Board's performance rendering independent unbiasedopinion.

• Understanding of the Company and the external environment in which it operatesand contribution to strategic direction.

• Safeguarding interest of whistle-blowers under vigil mechanism and Safeguard ofconfidential information.

The evaluation involves Self-Evaluation of the Board Member and subsequently assessmentby the Board of Directors. A member of the Board will not participate in the discussion ofhis / her evaluation.

1. Observations of board evaluation carried out for the year:

2. Previous year's observation s and actions taken:

3. Proposed actions based on current year observations:

6.9 Remuneration of Directors and Employees of Listed companies:

Pursuant to the Sub - Rule (2) of the Rule 5 of the Companies (Appointment &Remuneration or Managerial Personnel) Rules 2014 and Amendment rules 2016 read withSection 197 of the Act no employees was in receipt of the remuneration in aggregate toRs. 12000000/- (Rupees One crore Two Lakhs only) per annum or Rs. 850000/- (RupeesEight Lakh Fifty Thousand only) per month or at a rate in excess of that drawn by theManaging Director / Whole - time director of Manager and holds himself or along with hisspouse & dependent children no less than two percent of the equity shares of theCompany. Further the information required pursuant to Section 197 read with Rule 5 of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 in respect ofemployees of the Company will be provided upon request.

In terms of Section 136 of the Act the Report and Accounts are being sent to theMembers and others entitled thereto excluding the information on employees' particularswhich is available for inspection by the Members at the Registered Office of the Companyduring the business hours on working days of the Company up to the date of the ensuingAnnual General Meeting. If any Member is interested in obtaining a copy thereof suchMember may write to the Company Secretary in this regard.

As per the provisions of Section 197(12) of the Companies Act 2013 read with Rule 5of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 thedetails of the ratio of the remuneration of each director to the median employee'sremuneration are described in the "Annexure - I" to this report.

Further in pursuance to the Rule 5(2) of the Companies (Appointment and Remunerationsof Managerial Personnel) Rules 2014 the details of the employees employed throughout thefinancial year or part thereof was in receipt of remuneration in that year which in theaggregate or as the case may be at a rate which in the aggregate is in excess of thatdrawn by the Managing Director or Whole Time Directors or Manager and holds by himself oralong with his spouse and dependent children not less than two per cent of the equityshares of the company is not being feasible for the company as the company currentlypays sitting fees to the director of the company.

6.10 Remuneration received by Managing Director/ Whole time Director from holding orsubsidiary company:

There is no such amount received by the Managing Director/ Whole time Director As thecompany does not have any holding company or subsidiary company.

6.11Director's Responsibility Statement:

Pursuant to the provisions of Section 134(5) of the Companies Act 2013 the board ofdirectors to the best of their Knowledge and ability confirm and state that -

I. In the preparation of the annual accounts the applicable accounting standards havebeen followed along with proper explanation relating to material departures;

II. 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;

III. The Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of this Act for safeguardingthe 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. The Directors had laid down internal financial controls to be followed by theCompany and that such internal financial controls are adequate and were operatingeffectively; and

VI. The Directors had devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems were adequate and operating effectively.

6.12 Internal Financial Controls:

The Company has an adequate system of internal control procedures which is commensuratewith the size and nature of business. Detailed procedural manuals are in place to ensurethat all the assets are safeguarded protected against loss and all transactions areauthorized recorded and reported correctly. The internal control systems of the Companyare monitored and evaluated by internal auditors and their audit reports are periodicallyreviewed by the Audit Committee of the Board of Directors. The observations and commentsof the Audit Committee are also generally placed before the Board. Some key features ofthe company's internal controls systems have been provided in the Management discussionand Analysis Report as Annexure -V which being annexed to this report.

6.12 Frauds reported by the Auditor:

In pursuance to the Section 134(3)(ca) of the Companies Act 2013 ("theAct") there has been no reported frauds being detected by the Auditor of the Companyin accordance with the Section 143(12) of the Act.

7. DISCLOSURES RELATING TO SUBSIDIARIES ASSOCIATES AND JOINT VENTURES:

The Company does not have any Subsidiary Associates Company or Joint Venture.

8. DETAILS OF DEPOSITS:

The Company has not invited or accepted deposit within the meaning of section 73 of theact read with rules made there under from the public neither does have any unpaid orunclaimed deposits along with interest during the year. Further the company has not madeany default in repayment of deposits or payment of interest thereon as no deposits havebeen invited or accepted by the Company during the year. Furthermore there are no suchdeposits which are not in compliance with the requirements of Chapter V of the Act.

9. PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS:

The Details of loan guarantees or investment as per section 186 of the act areprovided in the notes to the financial Statement.

10. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

Particulars of contracts or arrangements with related Parties referred to in Section188(1) of the Companies 2013 in the prescribed form AOC-2 is appended as"Annexure-II" of the Board's report.

11. CORPORATE SOCIAL RESPONSIBILITY (CSR) INITIATIVES:

Your company is not falling under the criteria mention as per Section 135 (1) of theCompanies Act 2013 and the companies (Corporate Social Responsibilities) Rules 2014.Hence the company has not developed and implemented any corporate Social Responsibilitiesinitiatives.

12. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING/ OUTGO:

Conservation of Energy and Technology Absorption:

During the year under review there are no manufacturing activities undertaken by thecompany. The has taken utmost care to use the latest technology to conserve the energy

Foreign Exchange Earnings: NIL

Foreign Exchange Expenditure: NIL

13. RISK MANAGEMENT:

Considering the present condition of the company the company has formulated the riskmanagement policy. The board is being regularly provided with information which may havepotential threat of risk as and when required. The detailed policy can be find out at thewebsite of the company www.parshwanath.com

14. DETAILS OF WHISTLE BLOWER POLICY & VIGIL MECHANISM:

The Company has established a "Whistle Blower and Vigil Mechanism Policy" forDirectors and employees to report the genuine concerns as per the provisions of Section177 (9) of the Companies Act 2013. However the Section is not applicable to the Companybut the company has formed the policy as a part of good governance.

15. SIGNIFICANT AND MATERIAL ORDERS OF JUDICIAL BODIES/REGULATORS

There are no significant material orders passed by the Regulators/ Courts which wouldimpact the going concern status of the Company and its future operations.

16. AUDIT REPORT AND AUDITORS:

• INTERNAL AUDITOR:

In pursuance to the provisions of Section 138 of the Companies Act 2013 your Companyhas appointed M/s. P G M S & Associates Chartered Accountant as the Internal Auditorof the Company.

• STATUTORY AUDITOR:

M/s. S G D G & Associates LLP Chartered Accountants (F. R No.W100188) appointed asthe Statutory Auditors of the Company at 32nd Annual General Meeting who shallhold office for the term of 5 years till conclusion of the 37th Annual GeneralMeeting of the company subject to rectification by members of the company at every AnnualGeneral Meeting held till 37th AGM and that the Board be and is hereby authorized to fixsuch remuneration as may be determined by the Audit Committee in consultation with theAuditors.

The observations and comments if any marked in the Auditors' Report are selfexplanatory andtherefore do not call for any further comments.

• COST AUDIT REPORT:

As per section 148 of the Companies Act 2013 read with the Companies (Audit andAuditors) Rules 2014 Company is in construction business and as per criteria mentionedin the Companies (Cost Records and Audit) Amendment Rules 2014 (the Rules) company doesnot fall under the criteria mentioned in the Rules.

• SECRETARIAL AUDITOR:

Mrs. Kajal Ankit Shukla Practicing Company Secretaries Proprietor of M/s. K. AShukla& Associates has been appointed for the purpose of conducting Secretarial Auditof the Company. The Secretarial Audit Report is appended to this report as "AnnexureIV".

As the company have claimed exemption under the regulation 15 of SEBI ListingObligation (Disclosure & Requirements) Regulations 2015 for Corporate Governance theprovisions of Annual secretarial compliance report as per circular dated 08thFebruary 2019 is not applicable on the Company.

17. SECRETARIAL AUDIT REPORT:

The Secretarial Audit Report is appended to this report as "Annexure IV".

18. EXPLANATIONS IN RESPONSE TO AUDITORS QUALIFICATIONS:

Explanation to the observations given in the Secretarial Audit report:

1. In respect to the qualification given by the secretarial auditor in the report withregards to point (i) the company is under process to dematerialized all shares of thepromoter group and given letters to all the physical shareholders through the RTA of thecompany to update their KYC and also requested to all the physical shareholders todematerialized their shares.

2. In respect to the qualification given by the secretarial auditor in the report withregards to point (ii)(iii) & (iv)the company will appoint an Independent director assoon as company will find suitable profile for the same to fulfill requirement ofNomination and Remuneration committee as well Audit committee.

19. COMPLIANCE WITH SECRETARIAL STANDARDS:

The Directors state that applicable Secretarial Standards i.e. SS 1 and SS 2 relatingto ‘Meetings of the Board of Directors' and ‘General Meetings 'respectively havebeen duly followed by the Company.

20. EXTRACT OF ANNUAL RETURN:

The Extract of Annual Return in Form MGT-9 as provided under Section 92 (3) of theCompanies Act 2013 is annexed herewith as "Annexure -III"

21. CORPORATE GOVERNANCE REPORT:

As per the criteria mention in the regulation 15 of SEBI Listing Obligation (Disclosure& Requirements) Regulations 2015 company is not falling under the same and thecompany has claimed exemption from SEBI. Hence company has not submitted corporategovernance report with the stock exchange for the period under review. The company hasclaimed exemption under regulation 15(2) of SEBI Listing Obligation (Disclosure &Requirements) Regulations 2015 vide letter dated 30th May 2019 to BombayStock Exchange.

22. ANNUAL SECRETARIAL COMPLIANCE REPORT:

As per the clarification issued by Bombay Stock Exchange dated 9th May 2019the company need not to comply with the submission of Annual Secretarial Compliance reportas does not falling under the criteria mentioned under regulation 15 of SEBI ListingObligation (Disclosure & Requirements) Regulations 2015. The company has claimedexemption under regulation 15(2) of SEBI Listing Obligation (Disclosure &Requirements) Regulations 2015 vide letter dated 30th May 2019 to BombayStock Exchange.

23. MANAGEMENT DISCUSSION & ANALYSIS REPORT:

The Management Discussion and Analysis Report as per the Regulation 34 of the SEBIListing Obligation (Disclosure & Requirements) Regulations 2015 is part of the AnnualReport as "Annexure-V".

24. EQUAL OPPORTUNITY TO EMPLOYEES:

The Company has always provided a congenial atmosphere for work to all employees thatare free from discrimination and harassment including sexual harassment. It has providedequal opportunities of employment to all without regard to their caste religion colormarital status and sex. The Company has also framed a Policy on "Prevention of SexualHarassment "at the workplace. There were no cases reported under the said Policyduring the year.

25. THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY ANDBANKRUPTCY CODE 2016 (31 OF 2016) DURING THE YEAR ALONGWITH THEIR STATUS AS AT THE END OFTHE FINANCIAL YEAR:

There was no application or any proceedings is ongoing during the year under Insolvencyand Bankruptcy code 2016.

26. LISTING AT STOCK EXCHANGE:

The Equity shares of your company are listed on BSE (Bombay Stock Exchange). TheListing fees for the Year 20202021 have been paid to the Stock Exchanges.

27. DISCLOSURE OF TRANSACTIONS OF COMPANY WITH PROMOTER/ PROMOTER GROUP:

Sr. no. Name of Promoter Nature of Transaction Amount
1. Mr. Rushabh N. Patel Remuneration 900000
2. Mrs. Riddhi R. Patel Remuneration 900000

28. DISCLOSURE OF DEMAT SUSPENSE ACCOUNT / UNCLAIMED SUSPENSE ACCOUNT

With the advent of the new Securities & Exchange Board of India (ListingObligations and Disclosure Requirements) Regulations 2015 the listed entities arerequired to make disclosure in the Annual Report about the details of share inDematSuspence Account / Unclaimed Suspense Account. The details of the same is mentionedbelow:

Aggregate number of shareholders and the outstanding shares in the Suspense Account lying at the beginning of the year NIL
Number of shareholders who approached listed entity for transfer of shares from suspense account during the year NIL
Number of shareholders to whom shares were transferred from suspense account during the year NIL
Aggregate number of shareholders and the outstanding shares in the suspense account lying at the end of the year NIL
The voting rights on these shares shall remain frozen till the rightful owner of such shares claims the shares Not Applicable

29. APPRECIATION:

Your Directors place on record their appreciation and gratitude for the excellentsupport the Company has received from its workers employees customers vendors andshareholders. They also express their sincere thanks to the Bankers and various StateGovernments for the valuable support extended to the Company.

For Parshwanath Corporation Limited
Date: 03/09/2021
Place: Ahmedabad SD/- SD/-
Mr. Rushabh N. Patel Mrs. Riddhiben R. Patel
Managing Director Joint-Managing Director
DIN:00047374 DIN:00047238

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