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Shelter Infra Projects Ltd.

BSE: 526839 Sector: Infrastructure
NSE: N.A. ISIN Code: INE413C01013
BSE 00:00 | 23 Aug 14.00 -0.73
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NSE 05:30 | 01 Jan Shelter Infra Projects Ltd
OPEN 14.00
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VOLUME 38
52-Week high 19.20
52-Week low 9.00
P/E 24.14
Mkt Cap.(Rs cr) 5
Buy Price 14.00
Buy Qty 2.00
Sell Price 14.00
Sell Qty 62.00
OPEN 14.00
CLOSE 14.73
VOLUME 38
52-Week high 19.20
52-Week low 9.00
P/E 24.14
Mkt Cap.(Rs cr) 5
Buy Price 14.00
Buy Qty 2.00
Sell Price 14.00
Sell Qty 62.00

Shelter Infra Projects Ltd. (SHELTERINFRA) - Director Report

Company director report

Dear Shareholders

On behalf of the Board of Directors it is our pleasure to present the Forty Sixth(46th) Annual Report together with the Audited Statement of Accounts of M/sShelter Infra Projects Limited ("the Company") for the year ended 31stMarch 2018.

Financial Performance

The summarized standalone results of your Company are given in the table below.

Rs. in Lacs

Particulars Financial Year ended
Standalone
31/03/2018 31/03/2017
Total Income 319.36 311.71
Profit/(loss) before Interest Depreciation & Tax (EBITDA) 110.72 28.52
Finance Charges 69.00 0
Depreciation 17.14 30.53
Provision for Income Tax
(including for earlier years) 8 0
Net Profit/ (Loss) After Tax 19.67 -0.24
Profit/(Loss) brought forward from previous year -283.97 -283.73
Amount transferred consequent to Scheme of Merger NIL NIL
Profit/(Loss) carried to Balance Sheet -723.56 -283.97

*previous year figures have been regrouped/rearranged wherever necessary.

SHARE CAPITAL:

The paid up equity capital as on March 31 2018 was Rs. 35701610/- consisting of3570161 shares of Rs. 10/- each. The company has not issued shares with differentialvoting rights nor granted stock options nor sweat equity.

DIVIDEND:

Your Directors regret not to declare any dividend for the Financial Year under reviewas operating profit will be absorbed for the future development of projects.

FINANCIAL PERFORMANCE

During the financial year under review total revenue increased from Rs.319.36 Lakhs toRs. 311.71 Lakhs. Company has earned a net profit of Rs. 19.67 Lakhs for the financialyear 2017-2018 compared to the net loss of Rs. 0.24 Lakhs in the previous financial year.

TRANSFER TO RESERVE

The Board of the company does not recommend any amount to be transferred to Reserves inview of losses being incurred by the Company.

CHANGE IN NATURE OF BUSINESS IF ANY

There is no change in the nature of the business of the Company.

MATERIAL CHANGES & COMMITMENTS

Pursuant to Sec 134 (4) (l) of the Companies Act 2013 (‘the Act') no materialchanges & Commitments affecting financial position of the company occurring betweenthe end of the financial year of the company to which the financial statements relate andthe date of the report.

CHANGES IN SHARE CAPITAL DURING FY-2017-2018

There is no change in Share Capital during the Financial Year 2017-2018.

SUBSIDIARY / JOINT VENTURES / ASSOCIATES

Your Company has no Subsidiaries or Associate or Joint Venture Company. However theCompany is the Subsidiary of M/s Ramayana Promoters Private Limited in respect of holdingmore than 50% Share Capital of M/s Shelter Infra Projects Limited.

PARTICULARS OF LOANS INVESTMENTS AND GUARANTEES

Details of loans guarantees and investments covered under Section 186 of the CompaniesAct 2013 are provided in the notes to the Financial Statement as attached with thisAnnual Report.

INDUSTRY SCENARIO:

The Indian real estate market is expected to touch US$ 180 billion by 2020. Housingsector is expected to contribute around 11 per cent to India's GDP by 2020. Retailhospitality and commercial real estate are also growing significantly providing themuch-needed infrastructure for India's growing needs. New housing launches across topseven cities in India increased 27 per cent year-on-year in January-March 2018.India isexpected to witness an upward rise in the number of real estate deals in 2018 on the backof policy changes that have made the market more transparent. Sectors such as IT andretail consulting and e-commerce have registered high demand for office space in recenttimes. Office space demand in the country increased 23 per cent year-on-year inJanuary-March 2018 with office space absorption at 11.4 million square feet during thequarter. Private equity inflows in office and IT/ITES real estate have grown 150 per centbetween 2014 and 2017 backed by a strong attraction towards office sector. The Indian realestate sector has witnessed high growth in recent times with the rise in demand for officeas well as residential spaces. Private equity investments in real estate are estimated togrow to US$ 100 billion by 2026 with tier 1 and 2 cities being the prime beneficiaries.Private equity investments in Indian real estate increased 15 per cent year-on-year inJanuary-March 2018 to Rs 16530 crore (US$ 2.56 billion). According to data released byDepartment of Industrial Policy and Promotion (DIPP) the construction development sectorin India has received Foreign Direct Investment (FDI) equity inflows to the tune of US$24.67 billion in the period April 2000-December 2017.The Government of India along withthe governments of the respective states has taken several initiatives to encourage thedevelopment in the sector. The Smart City Project where there is a plan to build 100smart cities is a prime opportunity for the real estate companies.

Infrastructure sector is a key driver for the Indian economy. The sector is highlyresponsible for propelling India's overall development and enjoys intense focus fromGovernment for initiating policies that would ensure time-bound creation of world classinfrastructure in the country. Infrastructure sector includes power bridges dams roadsand urban infrastructure development. Foreign Direct Investment (FDI) received inConstruction Development sector (townships housing built up infrastructure andconstruction development projects) from April 2000 to December 2017 stood at US$ 24.67billion according to the Department of Industrial Policy and Promotion (DIPP). Thelogistics sector in India is expected to increase at a Compound Annual Growth Rate (CAGR)of 10.5 per cent from US$ 160 billion in 2017 to US$ 215 billion by 2020. India has arequirement of investment worth Rs 50 trillion (US$ 777.73 billion) in infrastructure by2022 to have sustainable development in the country. India is witnessing significantinterest from international investors in the infrastructure space. Some key investments inthe sector are listed below.The Government of India is expected to invest highly in theinfrastructure sector mainly highways renewable energy and urban transport prior to thegeneral elections in 2019.The Government of India is taking every possible initiative toboost the infrastructure sector.

STATE OF THE COMPANY'S AFFAIRS

Pursuant to Sec 134 (3) (i) of the Companies Act 2013 (‘the Act') As we lookforward to 2018 the macroeconomic environment is expected to continue to improve. Thesingle-family housing sector pricing and sales continues to strengthen albeit at a slowand inconsistent pace. These positive macroeconomic parameters could potentially provide afurther boost to the strengthening Commercial Real Estate recovery.

FIXED DEPOSITS:

Your Company has not accepted any deposits within the meaning of Section 73 of theCompanies Act 2013 read with Companies (Acceptance of Deposits) Rules 2014.

EXTRACT OF ANNUAL RETURN;

The Annual Return in term of Section 92(3) of the Companies Act 2013 has been providedat Company's website at www.ccapltd.in

BOARD OF DIRECTORS

a) Mr. Shib Ram Nag (DIN: 00240756) resigned from the Board w.e.f 21stMarch 2018. The Board took on record its deep sense of appreciation for the servicesrendered by Mr. Shib Ram Nag during the tenure of his directorship. Mr. Arunansu Goswami(DIN: 08103443) has been appointed w.e.f 10th April 2018 as Independent Director of theCompany for a term of five Years i.e. upto 09.04.2023.

b) Designation of following Directors has been changed from Independent Capacity toNon-Executive Category by passing circular resolution as on date 10.04.2018.

Mr. Kajal Chatterjee (DIN:05259861)

Mr. Sankalan Datta (DIN:02478232)

Mr. Kamal Kishore Chowdhury (DIN:06742937)**

** Mr. Kamal Kishore Chowdhury (DIN:06742937) has been designated as Whole TimeDirector of the Company by passing Board resolution as on date 13.08.2018 subject toshareholders' approval at the Annual General Meeting of the Company.

c) In accordance with the provisions of Companies Act 2013 Mr.Kajal Chatterjee (DIN-05259861) Non executive Director of the Company retires by rotation and being eligibleoffers himself for re-appointment.

BOARD MEETINGS:

During the Financial year eight(8) Meeting of Board of Directors held on 29.05.201711.09.2017 23.10.2017 14.11.2017 18.12.2017 30.01.2018 13.02.2018 and 28.03.2018.

Name of Director No. of Board meetings attended Attendance at last AGM
MR. CHINMOY MAZUMDAR 8 YES
MR. SHIB RAM NAG* 6 YES
MR. SANKALAN DATTA 8 YES
MR. KAJAL CHATTERJEE 5 -
MR. KAMAL KISHORE CHOWDHURY 8 YES
MISS MOUMANA PAL 7 YES

*Mr. Shib Ram Nag (DIN: 00240756) resigned from the Board as on date 21stMarch 2018.

COMMITTEES OF BOARD:

To comply with the provisions of section 177 and 178 of the Companies Act2013("the Act') and Rule 6 of the Companies (Meeting of board and its powers) Rules2014 the following Committees have been constituted by the Board of Director of theCompany.

1. Audit Committee

2. Nomination & Remuneration Committee

3. Stakeholders Relationship Committee

1. Audit Committee Meeting

a) During the Financial year the Audit Committee held 4 meetings on 29.05.201711.09.2017 14.11.2017 and 13.02.2018. b) The details of composition of the AuditCommittee of the Board of Directors are as under:-

Sl. No. Name
1. Mr. Arunansu Goswami (Chairman)
2. Ms. Moumana Pal (Member)
3. Mr. Chinmoy Mazumdar (Members)

2. Nomination & Remuneration Committee

a) During the Financial year the Nomination & Remuneration Committee held 2(Two)Meetings on 18.12.2017 and 20.03.2018.

b) The details of composition of the Nomination & Remuneration Committee of theBoard of Directors are as under:-

Sl. No. Name
1. Mr. Arunansu Goswami (Chairman)
2. Ms. Moumana Pal (Member)
3. Mr. Chinmoy Mazumdar (Members)

3. Stakeholders Relationship Committee a) During the year the Committee had met on20.11.2017 b) The details of composition of the Nomination & Remuneration Committee ofthe Board of Directors are as under:-

Sl. No. Name
1. Mr. Arunansu Goswami (Chairman)
2. Ms. Moumana Pal (Member)
3. Mr. Chinmoy Mazumdar (Members)

VIGIL MECHANISM / WHISTLE BLOWER POLICY

In accordance with Section 177(9) and (10) of the Companies Act 2013 and Regulation 22of under SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 theCompany has established a Vigil Mechanism and has a Whistle Blower Policy. The policy isavailable at the Company's website www.ccapltd.in under link -http://ccapltd.in/VIGIL%20MECHANISM.pdf.

DIRECTOR'S RESPONSIBILITY STATEMENT:

Pursuant to the requirement clause (c) of sub-section (3) of Section 134 of theCompanies Act 2013 your Directors confirm that:

a) in the preparation of the annual accounts the applicable accounting standards hadbeen followed along with proper explanation relating to material departures;

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 this Act for safeguarding theassets of the company and for preventing and detecting fraud and other irregularities;

d) the directors had prepared the annual accounts on a going concern basis; and

e) the directors had laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate and were operatingeffectively.

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.

DECLARATION BY INDEPENDENT DIRECTORS:

Miss Maumana Pal and Mr. Arunansu Goswami are independent Directors on the Board ofyour Company. In the opinion of the Board and as confirmed by these Directors theyfulfils the conditions specified in section 149 of the Act and the Rules made there underabout their status as IDs of the Company.

The Company has received necessary declarations from all the Independent Directorsunder Section 149(7) of the Companies Act 2013 that they meet the criteria ofindependence as provided in Section 149(6) of the Companies Act 2013.

Pursuant to Sec 134 (3)(q) of the Companies Act 2013 (‘the Act') The IndependentDirectors hold office for a fixed term of 5 years and are not liable to retire byrotation. No Independent Director has retired during the year.

COMPANY'S POLICY ON APPOINTMENT AND REMUNERATION:

This Policy envisages the role and responsibility of the Independent DirectorsConstitution of the Nomination and Remuneration Committee term of appointment ofManagerial Personnel Directors KMPs Senior Management remuneration of the ManagerialPersonnel KMPs Senior Management Independent Directors Stock Options to ManagerialPersonnel KMPs Senior Management other employees evaluation of Managerial Personnelunder sec 134 of the act KMPs Senior Management Independent Directors etc. TheNomination and Remuneration Committee will consist of three or more nonexecutivedirectors out of which at least one-half shall be independent director(s) provided thatChairperson of the Company may be appointed as a member of this Committee but shall notchair such Committee. The Board shall reconstitute the Committee as and when required tocomply with the provisions of the Companies Act 2013 and applicable statutoryrequirements including the Listing Agreement. The meeting of Committee shall be held atsuch regular intervals as may be required to carry out the objectives set out in thePolicy. The Committee members may attend the meeting physically or through Videoconference or through permitted audio –visual mode subject to the provisions of theapplicable laws. The Committee shall have the authority to call such employee (s) seniorofficial(s) and / or externals as it deems fit. The Company Secretary shall act asSecretary to the Committee. For detailed information about the policy your are requestedto visit your company website www.ccapltd.in. Pursuant to Section 197(14) of the CompaniesAct 2013 (‘the Act') There is no receipt of any commission by MD / WTD from aCompany and also not receiving commission / remuneration from it Holding or subsidiary.

STATUTORY AUDITORS THEIR REPORT AND NOTES TO FINANCIAL STATEMENTS:

In terms of the provisions of Section 139 of the Companies Act 2013 read withprovisions of the Companies (Audit and Auditors) Rules 2014 as amended M/S. BASUCHANCHANI & DEB Chartered Accountants (ICAI Firm Registration No. 301174E) wasappointed as the Auditors of the Company from conclusion of the 45th AGM until conclusionof the 50th AGM of the Company scheduled to be held in the year 2022.

The members may note that consequent to the changes made in the Companies Act 2013 andthe Companies (Audit and Auditors) Rules 2014 by the Ministry of Corporate Affairs (MCA)vide notification dated May 7 2018 the proviso to Section 139 of the Companies Act 2013read with explanation to sub-rule 7 of Rule 3 of the Companies (Audit and Auditors) Rules2014 the requirement for ratification of Auditors appointment at every AGM has been doneaway. Therefore the requirement of ratifying the appointment of M/S. BASU CHANCHANI &DEB as the Auditors of the Company at the every AGM does not arise.

Your Company has received a certificate from M/S. BASU CHANCHANI & DEB CharteredAccountants confirming their eligibility to continue as Auditors of the Company in termsof the provisions of Section 141 of the Companies Act 2013 and the Rules framed thereunder. They have also confirmed that they hold a valid certificate issued by the PeerReview Board of the Institute of Chartered Accountants of India (ICAI) as required underthe provisions of Regulation 33 of the Listing Regulations

EXPLANATION TO AUDITOR'S REMARKS

Pursuant to the final payment against the One Time Settlement with SBI the Company hassettled the entire dues in the Financial Year 2018-2019 and obtained the No DuesCertificates from the Bank.

Liability of lease rent had not yet been paid or provided in books of accounts inrespect of DN-1 Eternity building sector v saltlake kolkata 91 and IB 63 sector IIISaltlake .Moreover the quantum of lease amount based on lease deeds had not yet beenascertained in absence of the current market price of the said properties. However thematter will be dealt with in future with the relevant authorities.

The company has not provided any amortisation cost for development rights of Rs 556.30Lacs .The amount due for amortisation upto date not yet ascertained .The same will beconsidered in the books of accounts in the next financial year. Due to the nonavailability of details of the components of the Fixed Assets it is not possible for us tocalculate Component depreciation with respect to fixed assets .

Payments of directors remuneration to the extent of Rs 42.53 up to the financial year2016 -17 is yet to be received from the central government.

SECRETARIAL AUDIT:

In terms of Section 204 of the Act and Rules made there under Mr. Rakesh Kumar Gupta.Practicing Company Secretary (C.P. No.15143)having its office at 131 Bangur AvenueBlock-BKolkata-700055 have been appointed as Secretarial Auditor of the Company for theFinancial Year 2017-18. The report of the Secretarial Auditors is enclosed as ANNEXURE-I to this report. The observation made therein is taken note of by the management andnecessary steps have been taken to rectify it.

BOARD EVALUATION:

Pursuant to Section 134(3)(p) of the Companies Act 2013 Independent Directors haveevaluated the quality quantity and timeliness of the flow of information between theManagement and the Board Performance of the Board as a whole and its Members and otherrequired matters. Pursuant to Schedule II Part D of under SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 the Nomination and Remuneration Committee haslaid down evaluation criteria for performance evaluation of Independent Directors whichwill be based on attendance expertise and contribution brought in by the IndependentDirector at the Board Meeting which shall be taken into account at the time ofreappointment of Independent Director.

RISK MANAGEMENT POLICY

Pursuant to Section 134(3)(n) of the Companies Act 2013 and Regulation 17(9) of underSEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 the Company hasdeveloped and implemented a Risk Management Policy. The Policy envisages identification ofrisk and procedures for assessment and minimization of risk thereof.

HUMAN RESOURCES:

Your Company treats its "human resources" as one of its most importantassets.

Your Company continuously invests in attraction retention and development of talent onan ongoing basis. A number of programs that provide focused people attention are currentlyunderway. Your Company thrust is on the promotion of talent internally through jobrotation and job enlargement.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS:

Pursuant to Sec 134 (3)(q) r/w Rule 8 (5) (viii) of Cos (Accounts) Rules 2014 of theCompanies Act 2013 (‘the Act') During the year under review the no significant andmaterial orders were passed by the regulators or courts or tribunals impacting the goingconcern status and company's operations except:

Particulars For the year ended on 31st March 2018 For the year ended on 31st March 2017 For the year ended on 31st March 2016
(A)Claims by Income Tax Authority disputed by the company 1377.41 1377.41 1377.41
(B) Claims made by Military Engineer Services Kolkata for execution of Balance Work on the Risk & Cost on cancellation of Contracts disputed by the Company 1230.53 1230.53 1230.53
(C)Claims by GST Authority disputed by the Company 346.36 - -
(D)Penalty Imposed under SEBI Act/SCRA Act 57.00 57.00 0.00

INTERNAL FINANCIAL CONTROLS

Pursuant to Sec 134 (3)(q) r/w Rule 8 (5) (vii) of Cos (Accounts) Rules 2014 of theCompanies Act 2013 (‘the Act')The internal financial controls with reference to theFinancial Statements are commensurate with the size and nature of business of the Company.Audit committee of your company has performed regular review on internal financialcontrols of your company.

RELATED PARTY TRANSACTIONS:

All Related Party Transactions that were entered into during the financial year were onarm's length and were in the ordinary course of business. All Related Party Transactionswere placed before the Audit Committee of the Board of Directors for their approval. TheAudit Committee has granted omnibus approval for Related Party Transactions as per theprovisions and restrictions contained in the Under SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015.

The Company has formulated a policy on materiality of Related Party Transactions andalso on dealing with Related Party Transactions. The policy is available on the Company'swebsite www.ccapltd.in under linkhttp://ccapltd.in/RELATED%20PARTY%20TRANSACTION%20POLICY.pdf.

The Company in the ordinary course of its business enters into transactions relatingto Sale purchase or supply of any goods or materials Selling or otherwise disposing ofor buying property of any kind Leasing of property of any kind Availing or rendering ofany services Appointment of any agent for purchase or sale of goods materials servicesor property other obligations from Senguro Infracon Pvt. Ltd. Shelter BrickfieldsAkankha Nirman Pvt Ltd.Ramayana Promoters Private Limited Bharat Shelter Limited Bengalshelter housing development ltd and MZM Nirman Pvt. Ltd. who is a ‘Related Party'within the meaning Section

2(76) of the Companies Act 2013 and under Sebi (Listing Obligations And DisclosureRequirements) Regulations 2015. The current and the future transactions are/will bedeemed to be ‘material' in nature as defined in under SEBI (Listing Obligations AndDisclosure Requirements) Regulations 2015 as they may exceed 10 per cent of the annualturnover of the Company based on future business projections. Thus in terms of under Sebi(Listing Obligations and Disclosure Requirements) Regulations 2015 these transactionswould require the approval of the members by way of a Special Resolution.

A ratification of prior approved Related Party Transaction has been included in theNotice convening the ensuing AGM of the Company.

Details of Transaction made at arm's length price are attached as ANNEXURE -II.

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 theCompany. The Code requires pre-clearance for dealing in the Company's shares and prohibitsthe purchase or sale of Company shares by the Directors and the designated employees whilein possession of unpublished price sensitive information in relation to the Company andduring the period when the Trading Window is closed. The Board is responsible forimplementation of the Code. All Board Directors and the designated employees haveconfirmed compliance with the Code.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

The following persons are Key Managerial Personnel of the Company:-

1. Mr. Kamal Kishore Chowdhury - Whole time Director
2. Aparupa Das - Company Secretary
3. Mr. Jitendra Nath Mitra - Chief Financial Officer

TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND

Pursuant to applicable provisions of the Companies Act 2013 ("the Act") readwith the Investor Education and Protection Fund Authority (Accounting Audit Transfer andRefund) Rules 2016 ("the Rules") all unpaid or unclaimed dividends arerequired to be transferred by the Company to the Investor Education and Protection Fund(IEPF) established by the Central Government after completion of seven years. Furtheraccording to the said Act and Rules the shares in respect of which dividend has not beenpaid or claimed by the Members for seven consecutive years or more shall also betransferred to the demat account of the IEPF Authority. Your Company had sent individualnotices and also advertised in the newspapers seeking action from the Members who had notclaimed their dividends for seven consecutive years or more. It may please be noted thatif no claimed / Application is received by the Company and Registrar the Company will becompel to transfer the underlying shares to the IEPF Accounts within 30 days from 13thOctober 2018 with respect to the Financial Year 2010-11.

The Company had already transferred the Unpaid and Unclaimed amounts of dividend toIEPF as per applicable law with respect to the Financial Year 2009-10.

Members/claimants whose shares or unclaimed dividends have been transferred to theIEPF Demat Account or the Fund as the case may be may claim such shares or apply forrefund by making an application to the IEPF Authority in Form IEPF-5 (available athttp://www.iepf.gov.in).

CORPORATE GOVERNANCE

Pursuant to Regulation 15 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 Corporate Governance is not applicable to the company.

INDUSTRIAL RELATIONS:

During the year under review your Company enjoyed cordial relationship with workersand employees at all levels.

DISCLOSURE UNDER SECTION 197 (12) AND RULE 5 OF THE COMPANIES (APPOINTMENT &REMUNERATION OF MANAGERIAL PERSONNEL) RULES 2016

Information in accordance with the provisions of Section 197(12) of the Companies Act2013 read with Rule 5 of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2016 is given in Annexure-III forming part of the Directors'Report

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITIONAND REDRESSAL) ACT 2013

The company has in place an Anti Sexual Harassment Policy in line with the requirementsof The Sexual Harassment of Woman at the Workplace (Prevention Prohibition &Redressal) Act 2013.Internal Complaints Committee (ICC) has been set up to redresscomplaint received regarding sexual harassment. All Employees (permanent Contractualtemporary trainees) are covered under this policy.

The following is a summary of sexual harassment complaints received and disposed ofduring each calendar year.

-No of Complaints Received – NIL -No of Complaints Disposed off - NIL

SECRETARIAL STANDARDS

The Board of Directors hereby affirms that your Company has adhered to the SecretarialStandards as prescribed by the Institute of Company Secretaries of India during thefinancial year under report.

DETAILS OF CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS ANDOUTGO

Although your Company's core activity is in the area of civil construction which is notpower intensive your Company is making every efforts to conserve the power. Criticalnatural resources like Diesel etc. are consumed efficiently to ensure proper energyutilization and conservation. During the period under review there was no foreign exchangeearnings or out flow.

COST AUDIT RECORD

The company is not required to maintain Cost Audit records in term of Section 148 (1)of the Companies Act 2013.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

Corporate Social Responsibility Rules under Sec.135 of the Companies Act2013 is notapplicable to your Company.

ACKNOWLEDGEMENT

The Directors are grateful to the various Departments and agencies of the Central andState Governments for their help and cooperation. They are thankful to the FinancialInstitutions and Banks for their continued help assistance and guidance. The Directorswish to place on record their appreciation of employees at all levels for their commitmentand their contribution.

On behalf of the Board
For Shelter Infra Projects Limited
Sd/ Sd/
KAMAL KISHORE CHOWDHURY CHINMOY MAZUMDAR
DIN- 02478232 DIN - 02183974
(WHOLE TIME DIRECTOR) (DIRECTOR)
Date: 13.08.2018
Place: KOLKATA