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Sunshine Capital Ltd.

BSE: 539574 Sector: Financials
NSE: N.A. ISIN Code: INE974F01017
BSE 00:00 | 22 Jul 7.58 0
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NSE 05:30 | 01 Jan Sunshine Capital Ltd
OPEN 7.58
PREVIOUS CLOSE 7.58
VOLUME 250
52-Week high 7.58
52-Week low 5.50
P/E 11.48
Mkt Cap.(Rs cr) 10
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 7.58
CLOSE 7.58
VOLUME 250
52-Week high 7.58
52-Week low 5.50
P/E 11.48
Mkt Cap.(Rs cr) 10
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Sunshine Capital Ltd. (SUNSHINECAPITAL) - Director Report

Company director report

To

The Members

Sunshine Capital Limited

The Directors have pleasure in submitting their 26thAnnual Report on thebusiness and operations of the Company along with the Audited Financial Statement for thefinancial year ended 31st March 2020.

1. FINANCIAL SUMMARY HIGHLIGHTS

Financial Results of the Company for the year under review along with the figures forprevious year are as follows:

(Rs.IN'000)

PARTICULARS 31 MARCH 2020 31 MARCH 2019
Total Income 30944 11139
Profit/(Loss) before tax 10296 6156
Current Tax 2893 1226
MAT Credit - -
Deferred Tax 22 25
Profit/(Loss) after tax 7382 4904

2. STATE OF COMPANY AFFAIRS

During the financial year 2019-2020 the Company has recorded Revenue of30944337.25/-TheCompany has earned Net Profit of 7382213/-during the year as comparedto Profit of 4904292/-in the last year. The Directors are optimistic about futureperformance of the Company.

3. GLOBAL HEALTH PANDEMIC FROM COVID-19

The World Health Organization declared a global pandemic of the Novel Coronavirusdisease (COVID-19) on February 11 2020. In enforcing social distancing to contain thespread of the disease our offices and client offices all over the world have beenoperating with minimal or no staff for extended periods of time. In keeping with itsemployee-safetyfirst approach the Company quickly instituted measures to trace allemployees and be assured of their well-being. Our teams reacted with speed and efficiencyand quickly leveraged technology to shift the workforce to an entirelynew‘work-from-home' model. Proactive preparations were done in our work locationsduring this transition to ensure our offices are safe.

4. WEB ADDRESS OF ANNUAL RETURN

The Web Address where Annual Return in form MGT-9 of the Company for the Financial Year2019-2020 referred in sub-section (3) of Section 92 has been placed is mentioned below:www.sunshinecapital.in.

5. CHANGE IN NATURE OF BUSINESS

There was no change in the nature of business of company.

6. SUBSIDIARY / ASSOCIATE/ JOINT-VENTURE COMPANIES

The Company does not have any subsidiary / Associate/ Joint-Venture company.

7. SHARE CAPITAL

The Authorized Share Capital of the Company as on 31st March 2020 was131100000/- and Paid up Share Capital as on 31st March 2019 was130209000/- and there was no change in share capital of the company during the year.

8. DIVIDEND

No Dividend was declared during the year.

9. TRANSFER TO STATUTORY RESERVES

During the year under review Company has transferred 1779002/-.to the StatutoryReserves Fund from the profits of the Company in accordance with the provision of Section45-IC of the Reserve Bank of India.

10. NON-ACCEPTANCE OF PUBLIC DEPOSITS

The Company has not invited/accepted any public deposits or any fixed deposits duringthe financial year 2019-2020. Hence there are no defaults in repayment of amount ofprincipal and interest as on the date of balance sheet.

11. RBI GUIDELINES

The Company continues to fulfill all the norms and standards laid down by the ReserveBank of India for the Non-Banking Financial Company.

12. NBFC REGISTRATION

The company has been registered with Reserve Bank of India as Non-Banking FinanceCompany Vide Registration No. B-14.01266 on dated 25thSeptember 1998.

13. NON-BANKING FINANCIAL COMPANIES AUDITORS REPORT (RBI) DIRECTIONS 2016

Pursuant to the Non-Banking Financial Companies' Auditor's Report (Reserves Bank)directions 2016 a report from the Statutory Auditors to the board of directors has beenreceived by your company. This report has certified that the company has complied with allthe directions and prudential norms as prescribed under the RBI Act 1934.

14. DIRECTORS AND KEY MANAGERIAL PERSONNEL

DIRECTORS RETIRE BY ROTATION:

Mr. Surendra Kumar Jain Managing Director of the Company is liable to retire byrotation at the ensuing Annual General Meeting and being eligible offer himself forre-appointment. The Board of Directors recommends hisre-appointment.

INDEPENDENT DIRRECTORS:

The Independent Directors hold office for a fixed term of five years and are not liableto retire by rotation. The Independent Directors have submitted their disclosure to theBoard that they fulfill all the requirements as to qualify for their appointment as anIndependent Director under the provisions of the Companies Act 2013 as well as SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015.

The policy for regularization of Independent Director is also placed on Website of thecompany i.e. www.sunshinecapital.inrespectively. During the Year one (1) Meeting held inthe F.Y. 2019-20 on 04.09.2019 of the Independent Directors.

BOARD EVALUATION:

Pursuant to the provisions of the Companies Act 2013 and SEBI (Listing Obligations AndDisclosure Requirements) Regulations 2015 the Board has carried out an annual performanceevaluation of its own performance the directors individually as well as the evaluation ofthe working of its Audit Nomination & Remuneration Stakeholders' RelationshipCommittee and Risk Management Committees.

KEY MANAGERIAL PERSONNEL:

The following persons have been designated as Key Managerial Personnel of the Companypursuant to Section 2(51) and Section 203 of the Act read with the Rules framed thereunder: A. Mr. Surendra Kumar Jain Managing Director

B. Ms. Sangeeta Chief Financial Officer C. Ms. Apoorva Chaturvedi Company Secretary*D. Ms. Sakshi Gaur Company Secretary

*Ms. Apoorva Chaturvedi Company Secretary of the Company has tendered herresignation from the aforesaid post w.e.f. March18 2020.

COMPANY SECRETARY:

Ms. Apoorva Chaturvedi an Associates Member of ICSI has resigned from the Post ofCompany Secretary w.e.f 18thMarch 2020 and in place of her Ms.Sakshi Gaur an Associates Member of ICSI has been appointed as Company Secretary ofthe Company with effect from 27thMay 2020.

15. DIRECTORS' RESPONSIBILITY STATEMENT:

In accordance with the provision of section 134(5) of the Companies Act 2013 the Boardconfirms and submits the Director's Responsibility Statement:

• In the preparation of the Annual Accounts the applicable Accounting Standardshave been followed along with proper explanation relating to material departures;

• The Directors have selected such accounting policies and applied themconsistently and made judgments and estimates that were reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial year and of the profit of the Company for the year under review;

• The Directors have taken proper & sufficient care of the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act 2013for safeguarding theassets of the Company and for prevention & detecting fraud &other irregularities;

• The Directors have prepared the accounts for the year ended 31stMarch 2020 on a going concern basis.

• The directors had laid down internal financial controls to be followed by theCompany and that such internal financial controls are adequate and were operatingeffectively.

• The directors had devised proper system to ensure compliance with the provisionof all applicable laws and that such systems were adequate and operating effectively.

16. MEETINGS a) BOARD MEETINGS

The Board of Directors duly met Ten (10) Times during the Financial Year from 1stApril 2019 to 31stMarch 20 20. The dates on which meetings were held are asfollows:

05th April 2019 27th May 2019 6th June 2019 26thJuly 2019 4th September 2019 21ST September 2019 27thSeptember2019 5th November 2019 20th January 2020 18th March2020.

The periodicity between two Board Meetings was within the maximum time gap asprescribed in the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015/Companies Act 2013. The Composition of the Board of Directors their attendance at BoardMeetings and last Annual General Meeting is as under:

Name of Director Designation Category Number of Board Meetings Directors Directors entitled to attended attend Attendance of Last AGM
Mr. Surendra Jain Managing Director Executive & Promoter 10 10 Yes
Ms. Rajni Tanwar Woman Director Non-Executive Independent 10 10 Yes
Mr. Sujan Mal Mehta Director Non-Executive & Independent 10 10 Yes
Mr. Anil Prakash Director Non-Executive & Independent 10 10 Yes

(b) COMMITTEE MEETINGS: (i) AUDIT COMMITTEE

The Audit Committee comprises three Members of which two members including Chairpersonof theCommittee is Independent Director. During the year Five (5) Audit Committee Meetingswere convened and held.

Meetings of the Committee:

The Committee met 5 times on 5th April 2019 27th May 2019 26thJuly 2019 5th November 2019 and 19thJanuary 2020 during thefinancial year ended on March 31st 2020. The Composition of audit committeeand their attendance at the meeting are as under: -

Name of Members Category/ Designation No. of Meetings
Members entitled to attend Members attended
Mr. Sujan Mal Mehta Chairperson 5 5
Mr. Anil Prakash Member 5 5
Mr. Surendra Kumar Jain Member 5 5

(ii) NOMINATION & REMUNERATION COMMITTEE

The Nomination & Remuneration Committee comprises three members all areNon-Executive Directors of which two including Chairperson of the Committee areIndependent Directors. During the year three(3) Nomination & Remuneration CommitteeMeetings was convened and held.

Meetings of the Committee:

The Committee met 3 times on 27th September 2019 4th November2019 & 18th March 2020during the financial year ended on March 31st2020. The Composition of Nomination & Remuneration Committee and their attendance atthe Meeting are as under: -

Name of Members Category/ Designation No. of Meetings
Members entitled to attend Members attended
Mr. Sujan Mal Mehta Chairperson 5 5
Ms. Rajni Tanwar Member 5 5
Mr. Anil Prakash Member 5 5

The amended/ updated policy of nomination policy is also placed on website of thecompany i.e. www.sunshinecapital.in respectively.

(iii) RISK MANAGEMENT COMMITTEE:

The Risk Management Committee comprises three members of which two includingChairperson of the Committee are Independent Director. During the year one (1) RiskManagement Committee Meetings were convened and held.

Meetings of the Committee:

The Committee met 1 time on 4th November 2019 during the financial yearended on March 31st 2020. The Composition Risk Management committee and theirattendance at the meeting are as under: -

Name of Members Category/ Designation No. of Meetings
Members entitled to attend Members attended
Mr. Anil Prakash Chairperson 1 1
Mr. Sujan Mal Mehta Member 1 1
Ms. Rajni Tanwar Member 1 1

(iv) STAKEHOLDERS' RELATIONSHIP COMMITTEE:

The Stakeholders Relationship Committee comprises three members of which two membersare Independent Director. During the year one (1) Stakeholders Relationship CommitteeMeetings was convened and held.

Meetings of the Committee:

The Committee met 1 time on 2nd November 2019 during the financial yearended on March 31st 2020. The Composition of Stakeholders' Relationshipcommittee and their attendance at the meeting are as under: -

Name of Members Category/ Designation No. of Meetings
Members entitled to attend Members attended
Mr. Anil Prakash Chairperson 1 1
Mr. Sujan Mal Mehta Member 1 1
Ms. Rajni Tanwar Member 1 1

(v) ASSET LIABILITY MANAGEMENT COMMITTEE:

The Asset Liability Management Committee comprises of three members of which twoincluding Chairperson of the Committee are Independent Director. During the year one (1)Asset Liability Management Committee Meetings were convened and held.

Meetings of the Committee:

The Committee met 1 time on 2ndNovember 2019 during the financial yearended on March 31st 2020. The Composition Asset Liability Management Committeeand their attendance at the meeting are as under: -

Name of Members Category/ No. of Meetings
Designation Members entitled to attend Members attended
Mr. Sujan Mal Mehta Chairperson 1 1
Mr. Anil Prakash Member 1 1
Mr. Surendra Kumar Jain Member 1 1

(vi) INVESTMENTCOMMITTEE:

The Investment Committee comprises of three members of which two including Chairpersonof the Committee are Independent Director. During the year one (1) Investment CommitteeMeetings were convened and held.

Meetings of the Committee:

The Committee met 1 time on 1stNovember 2019 during the financial yearended on March 31st 2020. The Composition Investment Committee and theirattendance at the meeting are as under: -

Name of Members Category/ Designation No. of Meetings
Members entitled to attend Members attended
Mr. Anil Prakash Chairperson 1 1
Mr. Sujan Kumar Mehta Member 1 1

Compliance Officer:

Name of the Compliance Officer Contact Details E-Mail ID
Ms. Apoorva Chaturvedi (till 18.03.2020) 011-23582393 sunshinecapital95@gmail.com
Ms. Sakshi Gaur (w.e.f 27.05.2020 till date) 011-23582393 sunshinecapital95@gmail.com

(17) SHAREHOLDERS MEETING

There is only one Share Holders Meeting i.e. (Annual General Meeting) held on 30thSeptember2019 at 11:00 A.M. at 16/121-122 Jain Bhawan First Floor Faiz Road W.E.A Karol BaghNew Delhi-110005.

(18) PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS

During the Financial Year No Loan Guarantees and Investments made by the Company underSection 186 of the Companies Act 2013. Details of Loans Guarantees and Investmentsoutstanding as on 31stMarch 2020 are given in the notes to the financialstatements.

(19) INTERNAL FINANCIAL CONTROL SYSTEM

The Company has in place well defined and adequate internal controls commensurate withthe Size of the Company and same were operating throughout the year. The Company has inhouse Internal Audit Function.

(20) DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM

In pursuant to the provision of Section 177 (9) & (10) of the Companies Act 2013The Company has formulated a Whistle Blower Policy to establish a vigil mechanism forDirectors and employees of the Company to report concerns about unethical behavior actualor suspected fraud or violation of the company's code of conduct or ethics policy. TheWhistle Blower Policy is available on the website of the Company i.e. www.sunshinecapital.in

(21) PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

The particulars of contracts or arrangements with Related Parties for the FinancialYear 2019-2020is annexed herewith to the Financial Statements inForm No AOC -2.

(22) MANAGEMENT DISCUSSION ANALYSIS REPORT

The Management Discussion and Analysis Report for the year under review as stipulatedunder SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 ispresented in a separate section which forms part of the Annual Report under Annexure I.

(23) CORPORATE GOVERNANCE

As per Regulation 15(2) of SEBI (Listing Obligation and Disclosures requirements)Regulation 2015 Report on Corporate Governance is applicable as the Company is withinthe prescribed limit that the Paid up Share Capital of the Company is INR 130209000/-(Thirteen Crore Two Lakh Nine Thousand Only) and Net worth is INR 1067706000/- (Onehundred and Six Crore Seventy Seven Lakhs Six Thousand Only)as on 31 st March2020.

(24) AUDITORS

A. STATUTORY AUDITORS:

At the 25thAGM held on September 30 2019 the Members approved appointmentof MAK & Co. Chartered Accountants (Firm Registration No. 028454N) as StatutoryAuditors of the Company to hold office for a period of five years from the conclusion ofthat AGM till the conclusion of theAGM to be held in 2023-2024 subject to ratification oftheir appointment by Members at every AGM if so required under the Act. The requirementto place the matter relating to appointment of auditors for ratification by Members atevery AGM has been done away by the Companies (Amendment) Act 2017 with effect from May7 2018. Accordingly no resolution is being proposed for ratification of appointment ofstatutory auditors in the AGM. However A Certificate from the Auditors has been receivedin the last Annual General Meeting of the Company to the effect that their appointment ifmade would be within the limits prescribed under section 141(3)(g) of the Companies Act2013 and that they are not disqualified to be appointed as statutory auditors in terms ofthe provisions of the proviso to section 139(1) section 141(2) and section 141(3) of thecompanies Act 2013 and the provisions of Companies (Audit and Auditors) Rules 2014.

(i) Statutory Auditor's Report

The Auditors have given the Statutory Auditors' Report for the FY ended 31stMarch 2020 and is annexed herewith marked as Annexure-III and forms part ofthe Annual Report.

(ii) Statutory Auditor's Observations

There is a pending Tax demand of ` 1382516/- against the company. The above demandwas raised by Department during the course of assessment proceeding in A.Y. 2017-18. Theappeal against above assessment order is pending before CIT (A) till date. The Company ishopeful to get relieved from CIT (A) New Delhi. The Directors have considered thisobservation and said that it will be resolved shortly.

B. SECRETARIAL AUDITOR:

The Company has appointed M/s Ravi & Associates Company Secretaries as SecretarialAuditor to conduct the Secretarial Audit for the FY 2019-2020.

(i) Secretarial Auditor's Report

The Secretarial Audit Report is annexed herewith marked as Annexure- IVto this report in Form No. MR-3.

(ii) Secretarial Auditor's Observations

The observations made by Auditors with reference to notes to account areSelf-explanatory and need no comments. The Board of Directors considered the matter andseeking to resolve the matter if any.

C. INTERNAL AUDITOR

The Company has appointed Mr. Deepak Tyagi as an Internal Auditor of the Company forthe F.Y. 2019-2020.

(i) Internal Auditor's Report

Mr. Deepak Tyagi placed the internal audit report to the Company.

(ii) Internal Auditor's Observations

Internal audit report itself -explanatory and need no comments.

(25) MAINTENANCE OF COST RECORDS

Maintenance of Cost Audit Records as specified by the Central Government undersub-section (1) of Section 148 of the Companies Act 2013 is not applicable to the Companyand accordingly such accounts and records are not required to be made and maintained. AlsoCost Audit is not applicable to the Company.

(26) ENHANCING SHAREHOLDER VALUE

Your Company firmly believes that its success in the market place and a good reputationis among the primary determination of value to the shareholders. For this purpose theManagement has listed its shares on Bombay Stock Limited (BSE) having nationwide tradingplatform.

(27) PARTICULARS OF EMPLOYEES

Disclosure under Section 197(12) and Rule 5(1) of the Companies (Appointment andRemuneration of Managerial Personnel) Rules 2014.

1. Ratio of remuneration of each director to the median remuneration of theemployees of the company for the financial year ended 31stMarch 2020.

Sr. No. Name of Directors Remuneration P.A Ratio to Median Remuneration of Employees
1. Mr. Surendra Kumar Jain NIL NIL

Note: No sitting fees paid to Independent Directors and Non-executive director andhence not included in the above table.

2. The percentage increase in remuneration of each director CFO CEO CompanySecretary or Manager if any in the financial year 2019-20: NIL

3. Percentage increase in median remuneration of employees in the financial year:NIL

4. The number of permanent employees on the rolls of the company as on 31stMarch2020 is 8 (Eight)

5. Affirmation that the remuneration is as per the remuneration policy of thecompany:

Pursuant to Rule 5(1)(Xii) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014 it is affirmed that the remuneration paid to the Directors KeyManagerial Personnel and senior management is as per the Remuneration Policy of yourCompany.

(28) DEMATERILISATION OF SHARES

The Company has connectivity with NSDL & CDSL for dematerialization of its equityshares. The ISIN INE974F01017 has been allotted for the Company. Therefore the investorsmay keep their shareholding in the electronic mode with their Depository Participants81.34% and balance 18.66% is in the physical form of the company's paid-up Share Capitalis in dematerialized form as on 31st March 2020.

(29) LISTING OF SHARES

The Company has got listed 13020900 Equity Shares of INR 10/- each on Bombay StockExchange (BSE).

(30) CREDIT RATING

The Directors of the Company are pleased to report that the Company is registered withall four RBI Authorized CIC's Companies i.e. TransUnion CIBIL Limited (Formerly: CreditInformation Bureau (India) Limited).Credit Information Bureau (India) Limited (CIBIL)Equifax Credit Information Services Private Limited (ECIS) Experian Credit InformationCompany of India Pvt Ltd CRIF High Mark Credit Information Services Pvt Ltd.

(31) EXPOSURE TO REAL ESTATE

During the yearCo. has 21.59 (In crore) exposure to Real estate.

(32) CAPITAL FUND TO RISK WEIGHTED ASSETS

The Percentages to capital funds to risk weighted assets/exposures are as follows:

PARTICULARS (IN %)
Tier-I Capital 99.74
Tier-II Capital 0.22
Total 99.96

(33) HEALTH SAFETY AND ENVIRONMENT PROTECTION

The Company has complied with all the applicable environmental law and labour laws. TheCompany has been complying with the relevant laws and has been taking all necessarymeasures to protect the environment and maximize worker protection and safety.

(34) HUMAN RESOURCES

People remain the most valuable asset of your Company. Your Company follows a policy ofbuilding strong teams of talented professionals. Your Company continues to build on itscapabilities in getting the right talent to support different products and geographies andis taking effective steps to retain the talent. It has built an open transparent andmeritocratic culture to nurture this asset. The Company recognizes people as its mostvaluable asset and The Company has kept a sharp focus on Employee Engagement. TheCompany's Human Resources is commensurate with the size nature and operations of theCompany.

(35) DISCLOSURE OF FRAUDS IN THE BOARD'S REPORT UNDER SECTION 143 OF THE COMPANIES ACT2013

During the year under review your Directors do not observe any transactions whichcould result in a fraud. Your Directors hereby declares that the Company has not beenencountered with any fraud or fraudulent activity during the Financial Year 2019-20.

(36) COMPLIANCE

The Company has complied and continues to comply with all the applicable regulationscirculars and guidelines issued by the Ministry of Corporate Affairs (MCA) StockExchange(s) Securities and Exchange Board of India (SEBI) etc. The Company has compliedwith all applicable provisions of the Companies Act 2013 Listing Agreement executed withthe Stock Exchange(s) SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 and other applicable rules/regulations/guidelines issued from time to time.

(37) SECRETARIAL STANDARDS OF ICSI

Pursuant to the approval by the Central Government to the Secretarial Standardsspecified by the Institute of Company Secretaries of India on April 10 2015 theSecretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings(SS-2) came into effect from July 01 2015. Thereafter Secretarial Standards were revisedwith effect from October 01 2017. The Company is in compliance with the SecretarialStandards.

(38) SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (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 the Workplace (Prevention Prohibition &Redressal) Act 2013. Internal Complaints Committee (ICC) has been set up to redresscomplaints received regarding sexual harassment. All employees (permanent contractualtemporary trainees) are covered under this policy. The policy is available on the websiteof the company i.e. www.sunshinecapital.in The following is a summary of sexualharassment complaints received and disposed off during the year 2018-19.

• No of complaints received: 0

• No of complaints disposed off : N.A.

(39) DEVELOPMENT & IMPLEMENTATION OF RISK MANAGEMENT POLICY

The assets of the Company are adequately insured against the loss of fire riotearthquake terrorism loss of profits etc other risks which considered necessary by themanagement. The Company has been addressing the various risks impacting the Company andpolicy of the Company on risk management is continuously reviewed by the Management of theCompany.

(40) DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIALRESPONSIBILITY INITIATIVES

The Company has not developed and implemented any Corporate Social Responsibilityinitiatives as the said provisions are not applicable.

(41) MATERIAL CHANGES AND COMMITMENTS BETWEEN THE END OF THE FINANCIAL YEAR OF THECOMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

Except as disclosed elsewhere in the Report there have been no material changes andcommitments made between the end of the financial year of the company and the date of thisreport.

(42) SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALSIMPACTING THE GOING CONCERN STATUS OF THE COMPANY

There are no significant and material orders passed by the regulators or courts ortribunals impacting the going concern status of the company.

(43) CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS &OUTGO

The information pertaining to conservation of energy technology absorption Foreignexchange Earnings and outgo as required under Section 134(3) of the Companies Act 2013read with Rule 8(3) of the Companies (Accounts) Rules 2014 is furnished

(A) Conservation of energy

Steps taken / impact on conservation of energy with special reference to thefollowing:

Steps taken by the company for utilizing alternate sources of energy including wastegenerated: NIL (B) Technology absorption

Efforts in brief made towards technology absorption. Benefits derived as a result ofthe above efforts e.g. product improvement cost reduction product development importsubstitution etc. The Company has not taken any technical knowhow from anyone and hencenot applicable. In case of imported technology (imported during the last 3 years reckonedfrom the beginning of the financial year) following information may be furnished: TheCompany has not imported any technology and hence not applicable. Expenditure incurred onResearch and Development: The Company has not incurred any expenditure on research anddevelopment.

(c) Foreign Exchange Earnings/ Outgo

Foreign Exchange Earnings And Outgoings 31st March 2020 31st March 2019
Earnings in Foreign Currency (FOB Value of exports) NIL NIL
Expenditure in Foreign Currency NIL NIL

ACKNOWLEDGEMENT

The Directors are thankful to the Bankers Customers Dealers and Vendors for theirvaluable support and assistance. The Directors wish to place on record their appreciationof the commendable work done dedication and sincerity by all the employees of the Companyat all levels during the year under review. The Company will make every effort to meet theaspirations of its shareholders and wish to sincerely thank them for their whole heartedco-operation and support at all times.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
FOR SUNSHINE CAPITAL LIMITED
SURENDRA KUMAR JAIN RAJNI TANWAR
DATE: 23.07.2020 MANAGING DIRECTOR DIRECTOR
PLACE: NEW DELHI DIN: 00530035 DIN:08201251

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