Relicab Cable Manufacturing Limited
The Directors present the Eleventh Annual Report of the Company together with theAudited Statement of Accounts for the year ended 31st March 2020.
1. FINANCIAL RESULTS:
The financial performance of the Company for the year ended March 31 2020 issummarized below:
| || || |
(Rs. in Lacs Except EPS)
|Sr. No. ||Particulars ||Year Ended 31-03-2020 ||Year Ended 31-03-2019 |
| || ||(Audited) ||(Audited) |
|1 ||Revenue from Operations || || |
| ||(I) Revenue from Operations (Net of excise duty) ||1227.65 ||2254.43 |
| ||(II) Other Operating Income ||26.02 ||29.34 |
| ||(III) Total Revenue (net) ||1253.66 ||2283.77 |
|2 ||(IV) Expenses || || |
| ||(a) Cost of Materials Consumed ||1272.24 ||1889.93 |
| ||(b) Purchase of stock-in-trade || |
| ||(c) Changes in inventories of finished goods work-in-progress and stock-in-trade ||-114.56 ||-271.92 |
| ||(d) Employee benefits expense ||150.45 ||179.74 |
| ||(e) Finance Cost ||168.02 ||137.60 |
| ||(f) Depreciation and amortisation expense ||18.22 ||22.63 |
| ||(g) Other expenses ||131.38 ||169.32 |
| ||Total Expenses ||1625.75 ||2127.30 |
|3 ||V. Profit before exceptional and extraordinary items and tax (III - IV) ||-372.09 ||156.47 |
|4 ||VI. Exceptional items - Other Income || || |
|5 ||VII. Profit before extraordinary items and tax (V - VI) ||-372.09 ||156.47 |
|6 ||VIII. Extraordinary items ||157.73 ||0.94 |
|7 ||IX. Profit before tax (VII- VIII) ||-214.36 ||155.53 |
|8 ||X. Tax expense: || || |
| ||(1) Current Tax || |
| ||(2) Deferred Tax ||-1.17 ||1.41 |
| ||(3) (Excess)/Short Provision || |
|9 ||XI. Profit (Loss) for the period from continuing operations (VII-VIII) ||-213.20 ||110.52 |
|10 ||XII Profit (Loss) from Discontinued Operations || |
|11 ||XIII Tax expense of discontinued operation' || |
|12 ||XIV Profit/(loss) from Discontinuing operations (after tax) (XII-XIII) || |
|13 ||XV. Profit (Loss) for the period (XI + XIV) ||-213.20 ||151.36 |
|14 ||Share of Profit / (loss) of associates * || |
|15 ||Minority Interest* || |
|16 ||Net Profit / (Loss) after taxes. minority interest and share of profit / (loss) of associates (13 + 14 + 15) * ||-213.20 ||151.36 |
|15 ||Paid-up equity share capital(Face Value of the Share shall be indicated) ||540.15 ||540.15 |
|16 ||Reserve excluding Revaluation Reservesas per balance sheet of previous accounting year ||538.89 ||428.37 |
| ||i Earnings Per Share (of ?10/- each) (not annualised):(a) Basic ||-3.95 ||2.05 |
|16 ||(b) Diluted ||-3.95 ||2.05 |
2. REVIEW OF OPERATIONS:
During the year under review the sales have declined from Rs. 2254.43 lakhs inprevious year to Rs. 1227.65 lakhs in current year on account of closure of major vendorlike CG Power Ltd and change in the management of ABB Ltd. The Company also faced majoremployee attrition in December 2019 to March 2020 where in majority of old employees wereretrenched and new employees were employed. The training period of new employees weretaken two months to reach the old level of production. Due to all above reasons yourcompany has incurred loss as compared to profits earned in last financial year. YourDirectors are confident to deliver better results in future.
Further we would like to bring to your knowledge that "to support the Company'sfinancial Position the Directors willingly surrendered their remuneration and Rentreceivable for the year. "
In view of losses incurred in current financial year your Directors do not recommendany dividend for the financial year ended 2019-20.
The Board does not propose to carry any amounts to reserves.
5. CHANGE IN THE NATURE OF BUSINESS. IF ANY:
There was no change in nature of business during the Financial Year 2019-20.
6. MATERIAL CHANGES AND COMMITMENTS. IF ANY. AFFECTING THE FINANCIAL POSITION OF THECOMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICHTHE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:
No material changes have occurred subsequent to the close of the financial year of theCompany to which the balance sheet relates and the date of the report.
7. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS ORTRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE:
There were no significant and material orders passed by the regulators or courts ortribunals impacting the going concern status and Company's operations in future.
8. DETAILS OF SUBSIDIARY/ JOINT VENTURES/ ASSOCIATE COMPANIES:
The Company did not have any Subsidiary Company/Joint Venture/Associate Company duringthe year under review.
At the Annual General Meeting held on September 30 2017 M/s. Jain Jagawat Kamdar& Co. Chartered Accountants were appointed as the Statutory Auditors of the Companyfor a period of five years to examine and audit the accounts of the Company for thefinancial year 2017-18 2018-19 2019-20 2020-21 and 2021-22
M/s. Jain Jagawat Kamdar & Co. Chartered Accountants (Firm Reg. No.122530W) beingeligible offer themselves for ratification of their appointment for the year 2020-2021.Your Directors' recommend their ratification until the conclusion of the 12thAnnual General Meeting of the Company.
10. SECRETARIAL AUDIT AND SECRETARIAL AUDIT REPORT
Pursuant to the provisions of Section 204 of the Companies Act 2013 and the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Board of Directorshave appointed M/s Shah Patel& Associates Company Secretaries in Practice to carryout the Secretarial Audit of the Company. The Report of the Secretarial Auditor is annexedherewith as Annexure-I.
11. EXTRACT OF THE ANNUAL RETURN:
In accordance with Section 134(3)(a) of the Companies Act 2013 an extract of theAnnual Return in Form MGT - 9 is appended as Annexure-II of the Board's Report.Weblink of Annnual Return: www.relicab.net.
12. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS ANDOUTGO:
Detailed information on conservation of energy technology absorption foreign exchangeearnings and outgo as required to be disclosed in terms of section 134(3)(m) of theCompanies Act 2013 read with Rule 8 of the Companies (Accounts) Rules 2014 is set out inAnnexure-III and forms a part of this Report.
13. DIRECTORS AND KEY MANAGERIAL PERSONNEL:
A. Changes in Directors and Key Managerial Personnel:
Ms. Khushboo Desai who was appointed as the Company Secretary and Compliance Officerof the Company has resigned w.e.f. November 14 2019.
Mrs. Purva Baheti an Associate Member of the Institute of Company Secretaries of India(ICSI) was appointed as the Company Secretary and Compliance Officer of the Company by theBoard w.e.f. 15th November 2019
Further the Company has received declarations u/s 149(7) of the Act from all theIndependent Directors of the Company confirming that they meet the criteria ofIndependence as prescribed both under the Act and SEBI (LODR) Regulation 2015. TheCompany has also received Disclosure of Interest by Directors as per the provisions ofSection 184 of Companies Act 2013.
B. Board Evaluation:
Pursuant to the provisions of the Companies Act 2013 and SEBI (LODR) Regulation 2015the Board has carried out an annual performance evaluation of its own performance ofindividual Directors as well as the evaluation of the working of its Audit Nomination& Remuneration and Compliance Committees. The Board approved the evaluation results ascollated by the Nomination and Remuneration Committee from time to time.
i. Independent Directors:
In accordance with the criteria suggested by the Nomination and Remuneration Committeethe performance of each independent director was evaluated by the entire Board ofDirectors (in the absence of the director getting evaluated)on various parameters likeengagement leadership analysis decision making communication governance interest ofStakeholders etc. The Board was of the unanimous view that every Independent Director wasa reputed professional and brought his rich experience to the deliberations of the Board.The Board also appreciated the contribution made by all Independent Directors in guidingthe management to achieving higher growth and continuance of each independent director onthe Board will be in the interest of the Company.
ii. Non-Independent Directors:
The performance of all the non-independent directors was evaluated by the IndependentDirectors at their separate meeting. Further their performance was also evaluated by theBoard of Directors. The various criteria considered for the purpose of evaluation includedleadership engagement transparency analysis decision making functional knowledgegovernance stakeholders etc. The Board was of the unanimous view that all thenon-independent directors were providing good business and people leadership.
iii. Declaration by an Independent Director(s) and re-appointment if any:
All the Independent Directors have provided the declaration of Independence asrequired pursuant to Section149(7) of the Companies Act 2013 stating that they meet thecriteria of independence as provided in sub-section(6).
The Board of Directors of the Company is of the view that Independent Directors fulfillthe criteria of independence and they are independent from the management of the Company.All Independent Directors of the Company have confirmed that they have registeredthemselves with Independent Directors' Database of IICA and will appear for the onlineproficiency test of IICA if applicable.
iv. Familiarization Programme to Independent Directors:
Though it is not mandatory for the Company to provide any formal familiarizationprogramme however the Company provides suitable familiarization programme to IndependentDirectors so as to associate themselves with the nature of the industry in which thecompany operates and business model of the company in addition to regular presentation ontechnical operations marketing and exports and financial statements. In addition to theabove Directors are periodically advised about the changes effected in the Corporate LawListing Agreement with regard to their roles rights and responsibilities as Directors ofthe company. Weblink of the company is www.relicab.net where all the requisite informationis available.
14. DETAILS OF COMMITTEES OF THE BOARD:
Currently the Board has 3 Committees: the Audit Committee Nomination and RemunerationCommittee and Stakeholders' Relationship Committee. The Composition of various committeesand compliances as per the applicable provisions of the Companies Act 2013 and the Rulesthereunder and SEBI (LODR) Regulation 2015 areas follows:
A. Audit Committee:
i. Constitution of Audit committee:
The Audit Committee comprises of 3 Directors - Ms. Vijaya More (DIN-07283800)Independent Director and the Chairman of the Committee Mr. Rajesh Gor (DIN 07302407)Independent Director and Mr. Suhir Shah (DIN-02420617) Managing Director as the membersof the Committee. The recommendations of the Audit Committee is always welcomed andaccepted by the Board and all the major steps impacting the financials of the Company areundertaken only after the consultation of the Audit Committee.
ii. Details of establishment of vigil mechanism for directors and employees:
The Company has established vigil mechanism pursuant to Section 177(9) of the CompaniesAct 2013 for Directors
and Employees to report their concerns and has also taken steps to safeguard any personusing this mechanism from victimization and in appropriate and exceptional cases; there isdirect access to approach Ms. Vijaya More (DIN- 07283800) Chairperson of the AuditCommittee.
B. Nomination and Remuneration Committee:
The Board has constituted Nomination and Remuneration Committee under Section 178 ofthe Companies Act2013. Mr. Mushtaque Khan (DIN 07295171) Independent Director is theChairman of the said Committee and Mr. Rajesh Gor (DIN 07302407) and Ms. Vijaya More (DIN07283800) Independent Directors are the members of the Committee. The Committee hasframed a policy to determine the qualification and attributes for appointment and basis ofdetermination of remuneration of all the Directors Key Managerial Personnel and otheremployees. A copy of the policy is annexed as Annexure-V.
Details of remuneration paid to the Directors during 2019-20 are given below:
|Name of the Directors ||Directors' Position ||Relationship with other Directors ||Salary & allowances (Rs.) ||Contribution to P.F. (Rs.) ||Insurance (Rs.) ||Sitting Fees (Rs.) |
|Mr. Suhir Shah (DIN 02420617) ||Managing Director || ||NIL ||NIL ||NIL ||NIL |
|Mr. Parag Shah (DIN 02485384) ||Whole-time Director & CFO || ||NIL ||NIL ||NIL ||NIL |
|Ms. Vijaya More (DIN 07283800) ||Independent and Non-Executive Director || ||NIL ||NIL ||NIL ||15000 |
|Mr. Mushtaque Khan (DIN 07295171) ||Independent and Non-Executive Director || ||NIL ||NIL ||NIL ||20000 |
|Mr. Rajesh Gor (DIN 07302407) ||Independent and Non-Executive Director || ||NIL ||NIL ||NIL ||15000 |
Non-executive/ Independent Directors do not hold any shares in the Company.
C. Stakeholder's Relationship Committee:
The Stakeholder's Relationship Committee comprises of Ms. Vijaya More (DIN 07283800)Independent Director as the Chairman of the said Committee Mr. Mushtaque Khan (DIN07295171) Independent Director and Mr. Parag Shah (DIN 02485384) Whole-time Director andCFO as the member of the Committee. The role of the Committee is to consider and resolvesecurities holders' complaint and to consider approve/ratify transfer of securities ifany received. The meetings of the Committee are held once in a quarter and the complaintsand transfers are executed and responded within the time frame provided.
15. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS AND COMMITTEES:
The Board of Directors met Six (6) times during the Financial Year. The intervening gapbetween any two meetings was not more than 120 days as prescribed by the Companies Act2013. Details of dates of Board meeting are as under:
|Sr. No ||Type of Meeting ||Date |
|1 ||Board Meeting ||April 01 2019 |
|2 ||Board Meeting ||April 26 2019 |
|3 ||Board Meeting ||May 30 2019 |
|4 ||Board Meeting ||August 13 2019 |
|5 ||Board Meeting ||November 142019 |
|6 ||Board Meeting ||February 072020 |
The members of Audit Committee met Four (5) times during the Financial Year. Details ofdates if Audit Committee meeting are as under:
|Sr. No ||Type of Meeting ||Date |
|1 ||Audit Committee Meeting ||April 01 2019 |
|2 ||Audit Committee Meeting ||May 30 2019 |
|3 ||Audit Committee Meeting ||August 13 2019 |
|4 ||Audit Committee Meeting ||November 142019 |
|5 ||Audit Committee Meeting ||February 072020 |
The members of Shareholders' Relationship Committee met Four (4) times during theFinancial Year. Details of dates if Shareholders' Relationship Committee meeting are asunder:
|Sr. No ||Type of Meeting ||Date |
|1 ||Shareholders' Relationship Committee Meeting ||May 30 2019 |
|2 ||Shareholders' Relationship Committee Meeting ||August 13 2019 |
|3 4 ||Shareholders' Relationship Committee Meeting Shareholders' Relationship Committee Meeting ||November 142019 February 072020 |
The members of Nomination and Remuneration Committee met thrice during the FinancialYear. Details of date of Nomination and Remuneration Committee meeting are as under:
|Sr. No ||Type of Meeting ||Date |
|1 ||Nomination & Remuneration Committee Meeting ||April 01 2019 |
|2 ||Nomination & Remuneration Committee Meeting ||April 26 2019 |
|3 ||Nomination & Remuneration Committee Meeting ||November 142019 |
The Independent Directors of the Company met on 07th February 2020.
16. PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS UNDER SECTION 186:
The particulars of loans guarantees and investments are disclosed in the financialstatements which also form part of this report.
17. DEMATERIALIZATION OF SHARES
100% Shareholding of the Company is in dematerialized form and the Company has enteredinto Tripartite Agreement with NSDL and CDSL for providing demat facilities to itsshareholders. Sharex Dynamic (India) Pvt. Ltd. continue to be our Registrar and ShareTransfer Agent.
18. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
All contracts arrangements and transactions entered by the Company with relatedparties during FY 2019-20 were in the ordinary course of business and on an arm's lengthbasis. During the year the Company did not enter into any transaction contract orarrangement with related parties that could be considered material in accordance with theCompany's policy on related party transactions.
Accordingly the disclosure of related party transactions in Form AOC-2 is notapplicable. However detailed disclosure on related party transactions as per IND AS-24containing name of the related party and details of the transactions have been providedunder financial statements.
19. DIRECTORS' RESPONSIBILITY STATEMENT:
As stipulated under clause (c) of sub-section (3) of Section 134 of the Companies Act2013 your Directors subscribe to the Directors Responsibility Statement and state that:
a) In preparation of the annual accounts the applicable accounting standards had beenfollowed and there are no material departures from them;
b) 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;
c) The Directors had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 2013 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities;
d) The Directors had prepared the annual accounts on a going concern basis;
e) The Directors had laid down internal financial controls to be followed by theCompany & that such internal financial controls are adequate and were operatingeffectively; and
f) The Directors had devised proper systems to ensure compliance with the provisions ofall applicable laws and that such systems were adequate and operating effectively.
20. PARTICULARS OF EMPLOYEES:
Disclosure pertaining to remuneration and other details as required under Section 197(12) of the Companies Act 2013 read with Rule 5(1) of the Companies (Appointment andRemuneration of Managerial Personnel) Rules 2014 are provided in the Annual Report and ismarked as "Annexure-IV " to this Report.
Further during the year no employees of the Company were in receipt of remuneration interms of the provisions of Section 197(12) of the Companies Act 2013 read with Rules5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014.
21. MANAGEMENT DISCUSSION AND ANALYSIS:
The Management Discussion and Analysis Report for the financial year under review isannexed as a part of this Annual Report as Annexure-VI.
22. REPORT ON CORPORATE GOVERNANCE:
At Relicab it is imperative that our company affairs are managed in a fair andtransparent manner. This is vital togain and retain the trust of our stakeholders.
The Company has committed to maintain the highest standards of Corporate Governance asset out by SEBI. Disclosure of report on Corporate Governance is not mandatorily requiredto be disclosed as per SEBU (LODR) Regulation 2015 however as a prudent practice thecompany has voluntarily disclosed the same under Annexure - VII.
23. CORPORATE SOCIAL RESPONSIBILITY (CSR):
In line with the provisions of the Companies Act 2013 and the rules framed there underwith respect to the Corporate Social Responsibility (CSR) your company is not governed bythe provisions of Section 135 of the Companies Act 2013 and Companies (Corporate SocialResponsibility Policy) Rules 2014. So the Company is not required to formulate a policyon CSR and also has not constituted a CSR Committee.
24. RISK ASSESSMENT AND MANAGEMENT:
Your Company has a well defined Risk Management System in place as a part of its goodCorporate Governance practices. Your Company has assigned the ownership of key risks tovarious Risk Owners and has made the concerned departments and officials responsible formitigation plans and review of these risks from time to time. All the risks are identifiedat various departmental levels and suitable mitigation measures are thereafter adopted.These are subjected to a quarterly review by the Board.
25. INTERNAL FINANCIAL CONTROL SYSTEM AND THEIR ADEQUACY:
Adequate internal controls systems and checks are in place commensurate with thesize of the Company and the nature of its business. The scope and authority of theInternal Audit function is defined by the Audit committee. To maintain its objectivity andindependency the Audit function reports to the Chairman of the Audit Committee of theboard & to the Managing Director.
The Accounts Department monitors and evaluates the efficacy and adequacy of internalcontrol system in the Company its compliance with operating systems accountingprocedures and policies of the Company. Based on the report of internal audit functionprocess owners undertake corrective action in their respective areas and therebystrengthen the controls. Significant audit observations and corrective actions thereon arepresented to the Audit Committee of the Board.
26. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORK PLACE (PREVENTION.PROHIBITION AND 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. An Internal Complaints Committee (ICC) has been set up to redress complaintsreceived regarding sexual harassment. All employees (permanent contractual temporarytrainees) are covered under this Policy. The Policy is gender neutral.
No complaints pertaining to sexual harassment were received during the F. Y. 2019-20.
27. VIGIL MECHANISM/WHISTLE BLOWER POLICY:
The Company has a vigil mechanism named Whistle Blower Policy (WBP) to deal withinstances of fraud and mismanagement if any. This mechanism is looked after by the AuditCommittee of the Company.
28. PREVENTION OF INSIDER TRADING:
The Company has adopted a Code of Conduct for Prevention of Insider Trading with a viewto regulate trading in securities by the Directors and designated employees of the Companyand their relatives. The Code requires pre-clearance for dealing in the company's Sharesand prohibits the purchase or sale of Company shares by the Directors and the designatedemployees while in possession of unpublished price sensitive information in relation tothe Company and during the period when the Trading Window is closed. The Company Secretaryis responsible for implementation of the Code.
All Board Directors and the designated employees have confirmed compliance with thecode.
29. SHARE CAPITAL:
There were no change in the Share capital of the Company.
30. INFORMATION ON AUDITORS' OBSERVATIONS:
1) Statutory Auditors:
The report of the Statutory Auditors on Financial Statements forms part of this AnnualReport. Management reply to qualifications are as follows:
|Qualification ||Management reply |
|Company paid undisputed tax dues of AY 2019-20 (FY 2018-19) Amounting to Rs. 4651823/- on 31st July 2020 before signing of audit report. ||The management has paid the income tax dues of AY 2019-20 before the extended date provide by the Income Tax department. The date for filing of return for AY 201920 is extended upto 30th September 2020 the delay was on account of working capital shortage due to retrenchment paid to employees during the year. |
|Company has not deposited the TDS liabilities of Rs 314718.and further not filled TDS returns for the year. Refer note no. 'Note 8' of the financial statement ||As far As TDS of Rs. 314718/- is concern As per Income Tax Act 1961 the same can be paid before the due date of filing of Return to claim the expenses Management is in firm opinion to clear the outstanding dues as earliest as possible. The delay was on account of working capital shortage due to retrenchment paid to employees during the year. |
|There is undisputed assessment due unpaid as at 31 March 2020 amounting to Rs. 899307/- the same were also not provided in the books of accounts. ||The outstanding Income tax liability of Rs. 899307/- was on account of assessment dues were brought to the knowledge of Management today by the Auditor the same will be further analyzed with CFO and Tax consultant and if appealable than Company will file the appeal or else clear the dues. |
|Attention is also invited to the "Note 38' of the financial results wherein the go slow movement by the factory workers during 24th December 2019 to 15th March 2020 resulting in slowdown the production and retrenchment of employees. ||The going slow movement was carried out by workers during December 2019 to till March 2020. They require increase in their emolument by 20 to 25 percentages per month on each worker salary which was not viable due to sluggish demand and closure of major vendors and weak economic situation. The management has taken decision to retrench all those employees who were involved in going slow movement. Due to above retrenchment company was unable to reach target sales during the year. Management is in firm opinion to overcome the current situation. |
2) Secretarial Auditor:
The report of Secretarial Auditor forms part of this Annual Report. Management reply toqualifications are as follows:
|Qualification ||Management reply |
|Investor Grievance Report for Quarter Ended June 2019 has been filed with a delay of 19 days. However a required fee levied by BSE in respect of the said delay has been duly paid by the company. ||The said delay in filing was inadvertent and is duly filed by the company as on date. Further fine of Rs. 18880/- as levied by BSE was also duly paid. |
31. OTHER DISCLOSURES / REPORTING:
Your Directors state that no disclosure or reporting is required in respect of thefollowing items as there were no transactions on these items during the year under review:
a) Details relating to deposits covered under Chapter V of the Act.
b) Issue of equity shares with differential rights as to dividend voting or otherwise.
c) Issue of shares (including sweat equity shares) to employees of the Company underany scheme.
d) The Company does not have any Subsidiaries and/or Joint Venture and/or AssociateCompany.
e) Details of payment of remuneration or commission to Managing Director or JointManaging Director of the Company from any of its subsidiaries as the Company does not haveany Subsidiaries/Joint Venture/Associate Company.
f) Voting rights which are not directly exercised by the employees in respect of sharesfor the subscription/purchase of which loan was given by the Company (as there is noscheme pursuant to which such persons can beneficially hold shares as envisaged undersection 67(3)(c) of the Companies Act 2013).
The Board of Directors expresses their deep gratitude for the co-operation and supportextended to the Company by its customers suppliers Bankers and various Governmentagencies. Your Directors also place on record the commitment and involvement of theemployees at all levels and looks forward to their continuous co-operation.
| ||By Order of the Board of Directors |
| ||For Relicab Cable Manufacturing Limited |
| ||Suhir Shah |
| ||Managing Director |
| ||DIN-02420617 |
|Place: Mumbai || |
|Date: July 31 2020 || |
|Registered Office: || |
|57/1(4-B) Benslore Industrial Estate || |
|Dunetha Daman - 396210 (U. T) || |
|CIN: L27201DD2009PLC004670 || |