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Shelter Infra Projects Ltd.

BSE: 526839 Sector: Infrastructure
NSE: N.A. ISIN Code: INE413C01013
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Mkt Cap.(Rs cr) 6
Buy Price 15.70
Buy Qty 16.00
Sell Price 16.44
Sell Qty 320.00
OPEN 16.44
CLOSE 16.44
VOLUME 30
52-Week high 16.44
52-Week low 7.99
P/E
Mkt Cap.(Rs cr) 6
Buy Price 15.70
Buy Qty 16.00
Sell Price 16.44
Sell Qty 320.00

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 Seventh(47th) Annual Report together with the Audited Statement of Accounts of M/sShelter Infra Projects Limited ("the Company") for the year ended 31stMarch 2019.

Financial Performance

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

Particulars Financial Year ended
Rs. in Lacs
Standalone
31/03/2019 31/03/2018
Total Income 1051.84 319.36
Profit/(loss) before Interest Depreciation & Tax (EBITDA) 786.47 110.72
Finance Charges 52.55 69.00
Depreciation 14.43 17.14
Provision for Income Tax (including for earlier years) 220.24 4.91
Net Profit/ (Loss) After Tax 499.25 19.67
Profit/(Loss) brought forward from previous year -263.08 -282.75
Amount transferred consequent to Scheme of Merger NIL NIL
Profit/(Loss) carried to Balance Sheet 236.17 -263.08

Previous year figures have been regrouped/rearranged wherever necessary.

SHARE CAPITAL:

The paid up Equity Share Capital as on March 31 2019 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 during the Financial Year underreview.

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. 1051.84 Lakhs. The Company has earned a net profit of Rs. 499.25 Lakhs for theFinancial Year 2018-2019 compared to the net profit of Rs. 19.67 Lakhs in the previousFinancial Year. Income has been increased due to interest written back for Rs.660.92/-Lacs on account of one time settlement of Bank dues during the Current 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

The Board of the company does not recommend any amount to be transferred to Reserves inview of losses being incurred by 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-2018-2019

Increase in Authorized Capital

Authorised Share Capital of the Company Increased From Rs. 35662000/- to Rs.200000000/- during the Financial Year under Review.

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 itsholding more than 50% Share Capital.

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:

Post the revival of the Indian real estate sector through a series of initiatives bythe government the confidence of the homebuyers has increased with a clear understandingof the market. The developers have also witnessed a smooth regulatory business process.This development is expected to help increase the cash flow in Indian real estate sectorin 2019. Single window approvals by central and various state governments will furtheraccelerate growth of the industry. There will be a huge scope for the commercial realestate due to the increasing number of grade-A office spaces for start-ups co-workingplaces and e-commerce. IT parks in terms of location and amenities will emerge as anexemplary trend for commercial real estate growth. Rentals in commercial realty willcatalyze growth as investors tend to rent a commercial space rather than buying it. Alsothe increase in educational institutions in metro cities will drive student housing whichis a huge unmet demand in the country.

The Securities and Exchange Board of India (SEBI) has given its approval for the RealEstate Investment Trust (REIT) platform which will help in allowing all kinds of investorsto invest in the Indian real estate market. It would create an opportunity worth Rs 1.25trillion (US$ 19.65 billion) in the Indian market over the years. Responding to anincreasingly well-informed consumer base and bearing in mind the aspect of globalizationIndian real estate developers have shifted gears and accepted fresh challenges. The mostmarked change has been the shift from family owned businesses to that of professionallymanaged ones. Real estate developers in meeting the growing need for managing multipleprojects across cities are also investing in centralized processes to source material andorganise manpower and hiring qualified professionals in areas like project managementarchitecture and engineering.

The growing flow of FDI into Indian real estate is encouraging increased transparency.Developers in order to attract funding have revamped their accounting and managementsystems to meet due diligence standards.

STATE OF THE COMPANY'S AFFAIRS

Pursuant to Sec 134 (3) (i) of the Companies Act 2013 (‘the Act') as we lookforward to 2019 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;

Extract of the Annual Return vide MGT-9 is enclosed as Annexure-1 in terms ofSection 92(3) of the Companies Act 2013.The same is also available at Company's websiteat www.ccapltd.in

BOARD OF DIRECTORS

a) In accordance with the provisions of Companies Act 2013 Mr. Sankalan Datta (DIN:02478232) Non executive Director of the Company retires by rotation and being eligibleoffers himself for re-appointment.

b) Mr. Arunangso Goswami appointed as Independent Director of the Company by passingcircular resolution as on date 10.04.2018 for a term of five Years i.e. up to 09.04.2023and regularized at previous Annual General Meeting.

c) Mr. Chinmoy Mazumder ceased from the position of Non-Executive Directorship witheffect from 1st April 2019 due to attaining age of 78 pursuant to the SEBI Circular No.SEBI/LAD-NRO/GN/2018/10 with effect from 01.04.2019.

BOARD MEETINGS:

During the Financial year Six (6) Meeting of Board of Directors held on 25.04.201829.05.2018 13.08.2018 20.09.2018 12.11.2018 and 12.02.2019.

Name of Director No. of Board meetings attended Attendance at last AGM
MR. CHINMOY MAZUMDAR 6 YES
MR. ARUNANGSO GOSWAMI * 6 YES
MR. SANKALAN DATTA 6 YES
MR. KAJAL CHATTERJEE 6 NO
MR. KAMAL KISHORE CHOWDHURY 6 YES
MISS MOUMANA PAL 6 YES

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 2018-2019 the Audit Committee held 4(Four) meetings on29.05.2018 13.08.2018 12.11.2018 and 12.02.2019.

b) The details of composition of the Audit Committee of the Board of Directors for theFinancial Year under review are as under:-

Sl. No. Name
1. Mr. Arunansu Goswami (Independent Director)
2. Ms. Moumana Pal (Independent Director)
3. Mr. Chinmoy Mazumdar (Non-Executive Director)

2. Nomination & Remuneration Committee

a) During the Financial year 2018-2019 the Nomination & Remuneration Committee held4(Four) Meetings on 09.04.2018 13.08.2018 20.09.2018 and 12.11.2018.

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

Sl. No. Name

1. Ms. Moumana Pal (Independent Director)

2. Mr. Arunansu Goswami (Independent Director)

3. Mr. Chinmoy Mazumdar (Non-Executive Director)

3. Stakeholders Relationship Committee

a) During the Financial Year under Review the Committee held 3(Three) Meetings on20.09.2018 07.11.2018 and 20.02.2019.

b) The details of composition of the Stakeholders Relationship Committee of the Boardof Directors for the Financial Year under review are as under:-

Sl. No. Name

1. Ms. Moumana Pal (Independent Director)

2. Mr. Arunansu Goswami (Independent Director)

3. Mr. Chinmoy Mazumdar (Non-Executive Director)

CHANGE IN COMMITTEES OF BOARD:

The above Committees of the Board of Directors have been re-constituted with thefollowing members with effect from 1st April 2019 due to automatic cessationof Mr. Chinmoy Mazumdar Non Executive Director of the Company .

i. Mr. Sankalan Dutta Non Executive Director

ii. Mr. Arunansu Goswami - Independent Director

iii. Ms. Moumana Pal - Independent Director

KEY MANAGERIAL PERSONNEL OF THE COMPANY

The following persons are Key Managerial Personnel of the Company for the financialyear under review:-

1. Mr. Kamal kishore Chowdhury- Whole Time Director
2. Ms. Aparupa Das - Company Secretary
3. Ms. Poonam Goenka - Chief Financial Officer

Change in Key Managerial Personnel

1. Mr. Jeetendranath Mitra resigned from the position of CFO as on date 20.09.2018 andin his place Ms. Poonam Goenka has been appointed as CFO of the Company with effect from12.11.2018.

2. Ms. Poonam Goenka resigned from her position and in her place Mr. Anand KumarAgarwal has been appointed as Chief Financial officer of the company with effect from10.04.2019.

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:

Ms. 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 Companies Act 2013 (‘the Act') There is noreceipt of any commission by MD / WTD from a Company 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

• Excess Remuneration paid to the Mr. Dwija Das Chatterjee Whole-Time Director inthe earlier year amounting to Rs.0.76 lakhs shall be recovered.

• The Company has not provided any amortization cost for development rights ofRs.556.30 Lacs. The amount due for amortization up to date not yet ascertained by theManagement.

• Liability of lease rent had not yet been paid or provided in books of accountsin respect of DN-1 Eternity Building Sector-V Salt Lake Kolkata-91 and IB 63Sector-III Salt Lake. Moreover the quantum of lease amount based on lease deeds had notyet been ascertained in absence of the current market price of the said properties.However the matter will be dealt with in future with the relevant authorities.

• All the pending provision will be taken in consideration after getting valuationwork done by the Registered Valuer in considering the fact with the Management.

SECRETARIAL AUDIT:

In terms of Section 204 of the Act and Rules made there under Ms. Soma Saha aPracticing Company Secretary (C.P. No. 12237 Mb No: 33125)having its office at 10 OldPost Office Street Room No: 42A Kolkata 700 001 have been appointed as SecretarialAuditor of the Company for the Financial Year 2018-2019. The report of the SecretarialAuditors is enclosed as Annexure- 2 to this report. The observation made therein istaken note of by the management and necessary steps have been taken to rectify it.

BOARD EVALUATION:

Securities Exchange Board of India (SEBI) vide its circular no.SEBI/HO/CFD/CMD/CIR/P/2017/004 dated 5th January 2017 had issued a guidance note on BoardEvaluation which inter alia contains indicative criterion for evaluation of the Board ofDirectors its Committees and the individual members of the Board.

Pursuant to the new Evaluation Framework adopted by the Board the Board adopted aformal mechanism for evaluating its performance and as well as that of its Committees andindividual Directors for the financial year 2018-2019. The exercise was carried outthrough a structured evaluation process covering various aspects of the Boards functioningsuch as composition of the Board & Committees experience & competenciesperformance of specific duties & obligations attendance of the meetings governanceissues etc. Separate exercise was carried out to evaluate the performance of individualDirectors who were evaluated on parameters such as attendance contribution at themeetings and otherwise independent judgment safeguarding of minority shareholdersinterest etc.

The individual Director's performance was also evaluated and the Board was of the viewthat the Directors fulfilled their applicable responsibilities and duties as laid down bythe Listing Regulations and the Companies Act 2013 and at the same time contributed withtheir valuable knowledge experience and expertise to grab the opportunity and counter theadverse challenges faced by the Company during the year under review.

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:

Statue Nature of Dues Amount(Rs in Lakhs) Financial Year Regulators
Income Tax Act 1961 Income tax and Interest 1037.89 2012-13 ITAT Kolkata
Income Tax Act 1961 Income tax and Interest 64.37 2013-14 CIT APPEAL Kolkata
Income Tax Act 1961 Income tax and Interest 275.15 2013-14 CIT APPEAL Kolkata
GST Service Tax & Penalties 346.36 2011-16 Commissioner of appeal GST & Central Excise
SEBI ACT/SCRA act 1956 Penalty 57.00 Dec 2016 SATS MUMBAI

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:

The particulars of every contract or arrangements entered into by the Company withrelated parties referred to in sub-section (1) of section 188 of the Companies Act 2013including certain arms' length transactions under third proviso thereto shall be disclosedin Form No. AOC -2 as Annexure -3.

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's website www.ccapltd.in underlink http://ccapltd.in/RELATED%20PARTY%20TRANSACTION%20POLICY.pdf.

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.

TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND DURING THE FINANCIAL YEARUNDER REVIEW

In accordance with the provisions of Section 124125 and other applicable provisionsif any of the Companies Act2013 read with the Investor Education and Protection FundAuthority (Accounting Audit Transfer and Refund) Rules2016 (including any statutorymodification(s) or re-enactment(s) thereof for the time being in force) the amount ofdividend remaining unclaimed or unpaid for a period of seven years from the date oftransfer to the unpaid dividend account is required to be transferred to the IEPFmaintained by the Central Government. In pursuance of this the dividend remainingunclaimed or unpaid in respect of dividends for the Financial Year 2010-2011 have beentransferred to the IEPF. The Statement of amounts credited to Investor-IEPF-1-2010-2011is available on the Company's websitehttp://www.ccapltd.in/Statement%20of%20amounts%20credited%20to%20Investor-IEPF-1-2010-2011.pdf

In accordance with the provisions of Section 124(6) of the Act read with IEPF Rulesall the shares in respect of which dividend have remained unclaimed or unpaid for sevenconsecutive years or more are required to be transferred to the demat account of the IEPFAuthority. Accordingly all the shares in respect of which dividends were remainedunclaimed or unpaid for the Financial Year 2010-2011 have been transferred to the demataccount of IEPF Authority. The details of 2010-2011 Transfer of shares to IEPF isavailable on the Company's websitehttp://www.ccapltd.in/-IEPF-4-2010-2011-Transfer%20of%20shares%20to%20IEPF.pdf

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 2015as the paid-up Share Capital of the Company is less than 10 Crores andits Reserves are less than 25 Crore provisions of the Corporate Governance is notapplicable to your Company. However adequate steps have been taken for better corporategovernance.

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-4 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 Act 2013 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 SANKALAN DATTA
Date: 13.08.2019 DIN- 06742937 DIN - 02478232
Place: KOLKATA (WHOLE TIME DIRECTOR) (DIRECTOR)

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