TO THE MEMBERS
Your Directors present the Twenty Ninth Annual Report together with Audited Accountsfor the year ended on 31st March 2021.
FINANCIAL SUMMARY & HIGHLIGHTS
(Rs. In Lakhs)
|Particulars ||For the year ended 31st March 2021 ||For the year ended 31st March 2020 |
|Sales & Other Income ||17332 ||16953 |
|Operating profit before providing for ||1711 ||1530 |
|Interest & Depreciation || || |
|Less: || || |
|Interest ||212 ||279 |
|Depreciation ||404 ||381 |
| ||616 ||660 |
|Net Profit before taxation ||1095 ||870 |
|Less: || || |
|Tax Expenses ||254 ||249 |
|Net Profit after tax ||842 ||621 |
|Changes in fair value of FVTOCI Equity Securities ||1 ||(3) |
|Re-measurements of post employment benefits obligations ||(32) ||(28) |
| ||811 ||590 |
|Basic and diluted earning per share ||4.02 ||2.97 |
|Face value per equity Share ||5.00 ||5.00 |
COMPANY'S PERFORMANCE STATE OF AFFAIRS OF THE COMPANY AND FUTURE PROSPECTS
The Company is engaged in the business manufacturing of vinyl flooring sheeting andleather cloth etc. During the period under review your company produced 19401 M.T. of PVCflooring Sheetings Films etc. as against 22359 M.T. produced during the previous year.The Company achieved higher capacity utilization with the installation and utilization ofnew Plant & Machinery. Gross Sales from Operations and Other Income during the yearunder review was Rs. 17332 Lakhs against Rs.16953 Lakhs during the previous financialyear. Profit before tax during 2020-2021 was Rs. 1095 Lakhs against Rs.870 Lakhs duringthe year 2019-2020. However net profit of the company after tax for the current financialyear was Rs.842 Lakhs against Rs.621 Lakhs during the last financial year. Profits arehigher than the preceding financial year 2019-2020. The reasons for higher profits for thecurrent year were due to reduced cost of finance and other savings and the efforts ofworkers & employees production and marketing team and other executives.
DETAILS OF DIVIDEND DECLARED
Encouraged by the performance of the company The Board of your company is pleased torecommend for your approval payment of dividend @ 0.50 per equity share of Rs.5/- each(i.e. 10%) for the year ended on 31st March2021 subject to deduction of Tax at Sourcewhich if approved at the forthcoming Annual General Meeting will be paid to those equityshareholders whose names appear in the Register of Members as on 10th September 2021 inrespect of shares held in physical form and in respect of shares held in dematerializedform the dividend shall be paid on the basis of the beneficial ownership as per thedetails furnished by the Depositories for this purpose at the end of business hours on10th September 2021.
During the year under review the Board has transferred an amount of Rs.40000000/-(Rupees Four crore only) to General Reserves.
DETAILS OF MONEY ACCEPTED FROM DIRECTORS
During the year under review the company has not accepted money in the form ofUnsecured Loan from any of the Directors and/ or their relative(s).
CHANGE IN NATURE OF BUSINESS
During the year under review there was no change in the nature of business of theCompany.
IMPACT OF COVID-19 ON PERFORMANCE AND FINANCIAL POSITION OF THE COMPANY
The Company suspended its operations with effect from 23rd March 2020 due to countrywide lockdown announced by the Government of India in view of the COVID 19 pandemic. TheCompany recommenced its partial operations with effect from 21st April 2020 afterobtaining special approvals from the concerned authorities. The company's production andsales gradually started improving after complete lockdown was lifted by the Government.Despite the disruptions due to COVID 19 with the efforts of workers & employeesproduction and marketing team and other executives the company was able to match thesales of previous year with better profitability due to reduced cost of finance and othersavings.
CHANGE IN CAPITAL AND DEBT STRUCTURE
There was no change in the capital structure of the company during the year underreview and no fresh shares or convertible securities were issued by the company during theyear under review.
The company got its credit rating done from Credit Rating Information Services of IndiaLimited (CRISIL) and CRISIL gave BBB-/
Stable credit rating to your company.
FUNDS TRANSFERRED TO INVESTOR EDUCATION AND PROTECTION FUND (IEPF)
No amount of unpaid /unclaimed dividend and the corresponding shares was transferred toIEPF as it was not transferable to IEPF as per provisions of the Companies Act2013 andrules made thereunder.
SUBSIDIARIES AND ASSOCIATES
As per provisions of the Section 129 and other applicable provisions if any of theCompanies Act2013 your company has no Subsidiaries or Associate company.
Your Company continues to hold prestigious ISO 9001:2008 certification for quality asmanufacturer and exporter of PVC products namely Marbled (Contract) Printed and TechnicalFlooring Leather Cloth Sheeting Humidity Barrier and Geo Membrane. Bureau of IndianStandards has granted BIS certification Mark ISI for Unbacked Flexible PVC FlooringSheets or rolls and tiles for 1.5 mm and 2.00 mm thickness vide IS No. 3462:1986.
POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION AND OTHER DETAILS
The Company's policy on directors' appointment and remuneration and other mattersprovided in Section 178(3) of the Companies Act2013 has been disclosed in the CorporateGovernance Report which forms part of the Directors' Report.
EXTRACT OF ANNUAL RETURN
As provided under Section 92(3) of the Companies Act2013 the extract of Annual Returnis given in Annexure "I" in the prescribed Form MGT-9 which forms part ofthis report.
DIRECTORS' RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(3)(c) of the Companies Act 2013 yourDirectors state:-
(I) That in the preparation of the annual accounts the applicable accounting standardshave been followed along with proper explanation relating to material departures ;
(II) That your Directors have selected such accounting policies and applied themconsistently and made judgment and estimates that are reasonable and prudent so as to givea true and fair view of the state of affairs of the company at the end of the financialyear and of the profit or loss of the company for that period ;
(III) That your Directors have taken proper and sufficientcare for the maintenance ofadequate accounting records in accordance with the provisions of the Act for the assets ofyour company and for preventing and detecting fraud and other irregularities;
(IV) That your Directors have prepared the annual accounts on a going concern basis ;
(V) That the directors have laid down proper internal financial controls which arefollowed by the financial controls are adequate and were operating effectively ; and
(VI) That the directors have devised proper systems to ensure compliance with theprovisions of all applicable laws and that such systems were adequate and operatingeffectively.
PARTICULARS OF LOANS GUARANTEES AND INVESTMENTS
The particulars of loans guarantees and investments have been disclosed in thefinancial statements.
DETAILS OF AUDITORS QUALIFICATIONS AND REPLY OF MANAGEMENT
The Auditor's Report for the Financial year 2020-2021 does not have any details ofqualifications.
PARTICULARS OF EMPLOYEES AND HUMAN RESOURCES
The information as required under Section 197 of the Companies Act2 013 read with rule5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules2014are attached given below :
(a) The ratio of the remuneration of each director to the median remuneration of theemployees of the company for the financial year
|Non Executive Director ||Ratio to median remuneration |
|Smt. Bhupinder Kaur Marwah ||- |
|Smt. Rashmee Singhania ||- |
|Shri Santosh Kumar Dabriwala ||- |
|Shri Umesh Kumar Agarwalla ||- |
|Executive Director ||Ratio to median remuneration |
|Shri Amar Nath Goenka ||15.66 |
|Shri Amitaabh Goenka ||20.80 |
|Shri Sumat Parsad Jain* ||1.96 |
|Shri R B Verma* ||3.69 |
*Shri Sumit Parsad Jain resigned w.e.f. 30/06/2020 and Shri R B Verma was appointedExecutive Director of the Company w.e.f. 27/06/2020
(b) The percentage increase in remuneration of each director Chief Executive Office& Company Secretary in the financial year :
|Director Chief Executive Officer Chief Financial Officer and Company Secretary ||% increase in remuneration in the financial |
|Smt Bhupinder Kaur Marwah ||- |
|Smt. Rashmee Singhania ||- |
|Shri Santosh Kumar Dabriwalla ||- |
|Shri Umesh Kumar Agarwalla ||- |
|Shri Amar Nath Goenka Managing Director ||- |
|Shri Amitaabh Goenka Executive Director ||- |
|Shri Sumat Parsad Jain Executive Director ||- |
|Shri N K Bhandari Company Secretary ||12.99 |
|Shri R B Verma ||- |
(c) The percentage increase in the median remuneration of employees in the financialyear : 9.05 %.
(d) The number of permanent employees on the roll of company : 276
(e) The explanation on the relationship between average increase in remuneration andcompany performance :
On an average employees received an annual increase of 6.97 %. The individualincrements varied from 0.00 % to 38.08% based on individual performance.
(f) Comparison of the remuneration of the key managerial personnel against theperformance of the company :
|Aggregate remuneration of Key Managerial personnel (KMP) in financial year 2020-2021 ||127.28 |
|Revenue (Figures in Rupees in Lakhs) ||17332 |
|Remuneration of KMPs (as % of revenue) ||0.73 |
|Profit before Tax (PBT) (Figures in Rupees in Lakhs) ||1095 |
|Remuneration of KMPs (as % of PBT) ||11.62 |
(g) Variation in the market capitalization of the Company price earnings ratio as atthe closing date of the current financial year and previous financial year.
|Particulars ||March 31 2021 ||March 31 2020 ||% change |
|Market Capitalization (Rupees in Lakhs) ||7458 ||4074 ||83.06 |
|Price Earnings Ratio ||4.02 ||2.97 ||35.35 |
(h) Percentage increase or decease in the market quotations of the shares of thecompany in comparison to the rate at which the company came out with the last public offer:
|Particulars ||March 31 2021 ||1995* (Right cum Public Issue) ||% change |
|Market Price (BSE) Closing rate ||35.55 ||14.25 ||49.47 |
|Market Price (NSE) Closing rate ||35.60 ||12.50 ||84.80 |
* In the year 2003 the face value of equity share was reduced from Rs.10/- per equityshare to Rs.2.50 per equity share in compliance with the Orders of the Hon'ble BIFR.Further pursuant to a resolution passed by the Shareholders of the company in the year2009 the face value of the equity Shares was changed from Rs.2.50 per equity shares toRs.5/- per equity share and one equity share was issued against the holding of two equityshares held by a shareholders. Price per share at BSE was Rs.28.50 for paid up face ofRs.10/- each and at NSE was Rs.25/-in the year 1995. These rates were taken at half theprice due to change in face value.
(i) Average percentile increase already made in the salaries of employees other thanthe managerial personnel in the last financial year and its comparison with the percentileincrease in the managerial remuneration and justification thereof and point out if thereare any exceptional circumstances for increase in managerial remuneration :
The average annual increase was around 6.97 %. However during the year the totalaverage increase in managerial and key personnel 3.25.%. which is considered to be veryreasonable.
(J) Comparison of remuneration of each key managerial personnel against the performanceof the company :
|Particulars ||Shri Amar Nath Goenka ||Shri Amitaabh Goenka ||Shri Sumat Prasad Jain ||Shri N K Bhandari ||Shri R B Verma |
| ||Managing Director and CFO ||Executive Director ||Executive Director * ||Company Secretary ||Executive Director ** |
|Remuneration in FY 2020- 2021 ( Rs. In Lakhs) ||39.30 ||52.38 ||5.25 ||17.68 ||12.67 |
|Revenue (Rs. In Lakhs) ||17332 ||17332 ||17332 ||17332 ||17332 |
|Remuneration as % of revenue ||0.23 ||0.30 ||0.03 ||0.10 ||0.07 |
|Profit before tax (Rs. In Lakhs) ||1095 ||1095 ||1095 ||1095 ||1095 |
|Remuneration (as % of PBT) ||3.59 ||4.78 ||0.48 ||1.61 ||1.16 |
* Resigned with effect from 30-06-2020
** Joined as Executive Director with effect from 27-06-2020
(k) key parameters for any variable component of remuneration availed by the directors:
There is no variable component involved in the remuneration of Directors. The Directorsare being paid remuneration as approved by the shareholders of the company.
(l) The ratio of the remuneration of the highest paid director to that of the employeeswho are not directors but receive remuneration in excess of the highest paid directorduring the year:
(m) Affirmation that the remuneration is as par the remuneration policy of the company:
The company affirms remuneration is as per the remuneration policy of the company.
(n) The Statement containing particulars of employees as required under Section197(12) of the Companies Act2013 read with Rule 5(2) of the Companies (Appointment andRemuneration of Managerial Personnel) Rules2014 is not applicable as none of theemployees of the company is covered under the provisions of the act and rules madethereunder.
CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:
Particulars regarding conservation of energy technology absorption and foreignexchange earnings and outgo as prescribed Under Section 134(3) (m) of the Companies Act2013 are annexed as Annexure "II".
AUDITORS REPORT AND AUDITORS AUDIT REPORTS
The Auditors' Report for fiscal 2021 does not contain any qualification reservation oradverse remark. The Auditors' Report is enclosed with the financial statements in thisAnnual Report.
The Secretarial Auditors' Report for fiscal 2021 does not contain any qualificationreservation or adverse remark. The
Secretarial Auditors' Report is enclosed as Annexure III to the Board's reportin this Annual Report.
As required by the Listing Regulations the auditors' certificate Annexure VIII totheon corporate Board's report. The report does not contain any qualification reservationor adverse
AUDITORS Statutory Auditor
The Auditors M/s M A R S & Associates Chartered Accountants Auditors of thecompany were appointed as Statutory Auditors of the Company by the shareholders at the25th Annual General Meeting held on 27.09.2017 to hold office of Statutory Auditors of theCompany upto the conclusion of the 30th Annual General Meeting of the Company to be heldin the year 2022 subject to ratification of their appointment at every Annual GeneralMeeting. The Shareholders approved the item pertaining of ratification of appointment of MA R S &Associates as Statutory Auditor of the Company in their Meeting held on01-12-2020 upto the ensuing Annual General Meeting. A resolution for the appointment ofStatutory Auditor for the year 2021-2022 forms the part of Notice convening the TwentyNinth Annual General Meeting.
As required under Section 204 of the Companies Act 2013 (as amended or re-enacted fromtime to time) read with Rule 9 of the Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014 and other applicable provisions if any of the CompaniesAct 2013 Shri Nitin Gupta Practicing Company Secretary was appointed as SecretarialAuditor of the company to conduct the secretarial audit of the company for the financialyear 2021-2022 by the Board of Directors of the Meeting held on 29-06-2021. TheSecretarial Audit Report for the FY 2020-2021 forms part of the Annual Report is attachedas
Annexure "III" to the Directors' Report.
The Company has in place adequate Internal financial control with reference tofinancial statements. During the were tested and no reportable material weakness in thedesign or operations were observed. The Internal Auditor M/s D D Bansal AssociatesChartered Accountants directly report to the Audit Committee.
As per the requirements of the Central Government and pursuant to Section 148 of theCompanies Act2013 read with the Companies (Cost Records & Audit) Rules2014 asamended from time to time your Company is maintaining cost accounting records and get themaudited for products(s)/ Service covered under the Cost Records Rules 2014 for the yearending 31st March 2021 pursuant to section 148(1) of the Companies Act 2013 and otherapplicable provisions of the Companies Act 2013 read with the Companies (Audit &Auditor) Rules 2014.
M/s Cheena & Associates were appointed as the "Cost Accountants" of theCompany by the Board of Directors of the Company in their Meeting held on 29-06-2021 tomaintain cost accounting records and certify them for Product(s)/ Services Covered underCost Records Rules 2014 for the year ending 31st March 2022 pursuant to section 148(1) ofthe Companies Act 2013 and other applicable provisions of the Companies Act 2013 readwith the Companies (Audit & Auditor) Rules 2014. On the recommendation of the AuditCommittee The Board of Directors in their Meeting held on 29./06/2021 have appointed M/sCheena & Associates Cost Accountants to maintain cost accounting records and certifythem for Product(s)/ Services Covered under Cost Records Rules 2014 for the year ending31st March 2022 at a remuneration of Rs. 45000/- (Rupee Forty Five Thousand Only) plusGST and out of pocket expenses. A resolution for the appointment of Cost Auditor formspart of the Notice convening the
Annual General Meeting.
Goods and Service Tax Auditor
In compliance with the Section 35 of CGST Act 2017 ("the Act") to be readwith the applicable provisions rules and regulations the company had appointed M/sCheena & Associates as Goods & Service Tax Auditor of the Company for thefinancial year 2020-2021. Their appointment was approved by the Board in their meetingheld on 27/06/2020 on the recommendations of the Audit Committee.
CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES
All contracts / arrangements / transactions entered by the Company during the financialyear with related parties were in the ordinary course of business and at arm's lengthbasis. During the year the Company has not entered into any fresh contract / arrangement/ transaction with related parties which could be considered material in accordance withthe policy of the Company or materiality of related party transactions. None of thetransactions with related parties falls under the scope of Section 188(1) of the CompaniesAct2013.Your Directors draw attention of the members to Note 2.32 to the financialstatement which sets out related party disclosures.
DECLARATION BY THE INDEPENDENT DIRECTORS
Independent Directors have submitted their disclosures to the Board that they fulfillall the requirements as stipulated in section 149(6) of the Companies Act2013 so as toqualify themselves to be appointed as Independent Directors under the provisions of theCompanies Act2013 and the relevant Rules.
The equity shares of your company are listed at the Stock Exchanges as per detailsgiven in the Annexure "VI" and forming part of Directors' Report to theMembers. The equity shares of the company are traded at these Stock Exchanges. The shareswere not suspended from trading by any of the stock exchanges where shares are listedduring the period under review.
INTERNAL FINANCIAL CONTROLS
The Company has in place adequate Internal financial control with reference tofinancial statements. During the year such control were tested and no reportable materialweakness in the design or operations were observed. The Internal Auditor M/s D D BansalAssociates Chartered Accountants directly reports to the Audit Committee.
STATEMENT OF DEVIATION OR VARIATION
The company did not issue any shares under Public/Rights and/or preferential Issueduring the period under review.
A separate Report on Corporate Governance along with the General shareholdersInformation as prescribed under the Securities and Exchange Board of India (ListingObligations and Disclosure Requirements) Regulations2015 along with a certificate theAuditors of the Company regarding compliance of the conditions of the Corporate Governanceis given in Annexure "VII" and Annexure "VIII"respectively and form part of Directors' Report to the Members.
WHISTLE BLOWER POLICY/VIGIL MECHANISM
The company promotes ethical behavior in all its business activities and has put inplace a mechanism for reporting illegal or unethical behavior. The company has a vigilmechanism and whistle blower policy under which the employees are free to reportviolations of applicable laws and regulations and the code of conduct. The reportablematters may be disclosed to the Chairman of Audit Committee.
During the year under review no employee was denied access to the Audit Committee.
DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITION &REDRESSAL) ACT 2013
The Company has constituted Internal Complaints Committee under the Sexual Harassmentof Women at Workplace (Prevention Prohibition and Redressal) Act 2013 to hear andredress the complaints if any received from women employees.
|(a) number of complaints filed during the financial year ||- Nil |
|(b) number of complaints disposed of during the financial year ||- Nil |
|(c) number of complaints pending as on end of the year ||- Nil |
The company has developed and implemented a Risk Management Policy to identify andmitigate key risks that may threaten the existence of the company.
The Company has taken the required insurance coverage for its assets against thepossible risks like fire flood burglary etc.
RECOMMENDATION BY AUDIT COMMITTEE
There were no such instances where the recommendation of Audit Committee has not beenaccepted by the Board during the financial year under review.
CODE OF CONDUCT
The Board has laid down a specific code of Conduct for all Board Members and SeniorManagement of the Company. All the Members and Senior Management Personnel have affirmedcompliance with the Code on annual basis. In this regard certificate from CEO & CFO ofthe Company as required under Schedule V of the SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 has been received by the Board and the same is attachedherewith as per Annexure - IX.
COMPANY'S POLICY RELATING TO DIRECTORS APPOINTMENT PAYMENT OF REMUNERATION ANDDISCHARGE OF THEIR DUTIES
A Nomination and Remuneration Committee has been constituted under section 178 of theCompanies Act 2013 for formulization the criteria for determining qualificationspositive attributes and independence of a Directors and recommend to the Board a policyrelating to the remuneration for the Directors Key Managerial Personnel and otheremployees. Further the Directors and KMP of the Company are being paid remuneration asapproved by the Shareholders and provisions of the Act and rules made thereunder.
DETAILS OF INDEPENDENT DIRECTORS RETIRED FROM THE DIRECTORSHIP OF THE COMPANY
During the year under review no independent Director retired from the Directorship ofthe company.
TOTAL FEES PAID TO THE STATUTORY AUDITOR FOR ALL THE SERVICES DURING THE YEAR 2020-2021
The Company has paid a sum of Rs.138700/- (Rupees One Lakh Thirty Eight ThousandSeven Hundred Only) towards all the services rendered by Statutory Auditor during thefinancial year 2020-2021.
INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS
The Board has adopted the procedures for ensuring orderly and efficient conduct of itsbusiness including adherence to the company's policy the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of accountingrecord and timely preparation of financial disclosures.
MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY
There were no material changes and commitments affecting the financial position of thecompany between the end of financial year to which this financial statements relate and onthe date of this Report except the impact of Lock-down due to COVID-discussed elsewhere inthis report.
FORMAL ANNUAL EVALUATION
The Board of directors had carried out an annual evaluation of its own performanceBoard Committees and individual directors as required under the Companies Act 2013. Theperformance of the Board was evaluated by the Board after seeking inputs from all thedirectors on the basis of criteria such as Board composition structure Board processesand their effectiveness information given to the Board etc. The performance of the Boardcommittees was evaluated by the Board after seeking inputs from the committee members onthe basis of criteria such as Committee composition structure effectiveness of CommitteeMeetings etc. The Board and the Nomination and Remuneration Committee (NRC) reviewed theperformance of the individual directors on the basis of criteria such as contribution atmeetings their preparedness on the issues to be discussed etc. Additionally the Chairmanwas also evaluated on key aspects of his role.
DETAILS OF FRAUD
No fraud has been reported/detected for the period under review.
CEO & CFO CERTIFICATE
Shri Amar Nath Goenka Managing Director of the Company is also CEO and CFO of theCompany and has certified to the Board with respect to the financial statements InternalControls Code of Conduct and other matters as required under Securities Exchange Board ofIndia (Listing Obligations and Disclosure Requirements) Regulations2015. In terms ofSecurities Exchange Board of India (Listing Obligations and Disclosure Requirements)Regulations2015 a certificate with regard to compliance with the Code of Conduct by theBoard Members and Senior Management Personnel for the year ended 31st March 2021 has beenincluded in the Annual Report and is attached as Annexure "IX" formingpart of the Director's Report.
MANAGEMENT DISCUSSIONS AND ANALYSIS
A separate annexure on Management Discussions and Analysis Report is attached as Annexure"X" forming part of the Director's Report.
DISCLOSURE ON CORPORATE SOCIAL RESPONSIBILITY POLICY
For the Financial year 2020-2021 a sum of Rs. 2765423/-- (Rupees Twenty Seven LakhSixty Five Thousand Four Hundred Twenty Three only ) was allocated for CSR activity. Outof this the company could spent a sum of Rs.2170655/- ( Rupees Twenty One Lakh SeventyThousand Six Hundred Fifty Five only ) and there remained a sum of Rs.594768/- (RupeesFive Lakh Ninety Four Thousand Seven Hundred Sixty Eight only) as unspent amount CSR forthe financial year 2020-2021. The company was suppose to open an Unspent CSR with ascheduled bank and transfer the unspent CSR amount by 30-04-2021. The company could notutilize full amount available for CSR activity due to Cash Flow crunch However theunspent amount was spent in the month of April2021.
A report on CSR is attached as Annexure XI' to the Director's Report.
INDUSTRIAL RELATIONS :
The industrial relations remained cordial during the year under review.
The Company has not invited or accepted deposits from the public covered under Section73 of the Companies Act 2013.
COMPLIANCE WITH THE SECRETARIAL STANDARDS
The Company has complied with the applicable Secretarial Standards as recommended bythe Institute of Company Secretaries of India.
GREEN INITIATIVES IN CORPORATE GOVERNANCE
Ministry of Corporate Affairs has permitted Companies to send copies of Annual ReportNotice etc. electronically to the email IDs of shareholders. Your Company has arranged tosend the soft copies of these documents to the registered email IDs of the shareholderswherever applicable In case any shareholder would like to receive physical copies ofthese documents the same shall be forwarded upon receipt of written request.
SIGNIFICANT AND MATERIAL ORDERS OF REGULATION OR COURTS OR TRIBUNALS
No significant and material order was passed by any Court of Regulation or Courts orTribunals during the year under review impacting the going concern status of your Companyand its future operations.
CERTIFICATE OF NON DISQUALIFICATION OF DIRECTORS
Shri Nitin Gupta Company Secretary in whole time practice has issued certificateas required under the Listing Regulations confirming that none of the directors onthe Board of the Company has been debarred or disqualified from being appointed orcontinuing as director of companies by the SEBI / Ministry of Corporate Affairs or anysuch statutory authority. The certificate enclosed with this section as Annexure"XII".
The Directors wish to place on record their sincere appreciation for the whole heartedCo-operation received by the Company from Central and State Governments Kotak MahindraBank Limited and other Government Agencies and look forward to their continuing support.The Directors also record their appreciation for the sincere efforts put in by theemployees of the Company at all levels.
|Place : New Delhi ||By order of the Board ||By order of the Board |
|Date : 22/07/2021 ||For PREMIER POLYFILM LTD. ||For PREMIER POLYFILM LTD. |
|Regd. Office: ||Sd/- ||Sd/- |
|305 III Floor'Elite House' 36 ||Amar Nath Goenka ||Bhupinder Kaur Marwah |
|Community Centre Kailash Colony ||Managing Director and CFO ||Director |
|Extension (Zamroodpur) ||DIN: 00061051 ||DIN: 08399222 |
|New Delhi-110048 ||Address : "Vrindavan Farm" No. 1 ||Address : "Spring House" No. 3 Green |
|CIN : L25209DL1992PLC049590 ||Green Avenue ||Avenue |
| ||Behind Sector D-3 Vasant Kunj ||Behind Sector D-3 Vasant Kunj |
| ||Kishangarh New Delhi 110070 ||Kishangarh New Delhi 110070 |