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Supreme Engineering Ltd.

BSE: 535105 Sector: Metals & Mining
NSE: SUPREMEENG ISIN Code: INE319Z01021
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Supreme Engineering Ltd. (SUPREMEENG) - Director Report

Company director report

SUPREME ENGINEERING LIMITED

(Formerly Known as: Supreme Engineering Private Limited Supreme Heatreaters PrivateLimited)

REGD. OFFICE: R-223 MIDC Complex Thane Belapur Road Rabale

Navi Mumbai - 400 701 Maharashtra (Wire Division)

Supreme Special Steels (Special Steels Division)

R.P. Chowdhri Marg Village Vihari Opp Khopoli Railway Station

Khopoli Tal. Khalapur District Raigad Maharashtra - 410203

Contact No.: 022-27648700 FAX: 022-27690341

EMAIL: cs@supremesteels.com

WEBSITE: www.supremesteels.com

CIN: L99999MH1987PLC043205

To

The Members of

SUPREME ENGINEERING LIMITED

R-223 MIDC Complex

Thane Belapur

Rabale Navi Mumbai - 400 701

Your Directors are pleased to present their Thirty Fourth Board's Report together withthe Audited Financial statements for the year ended 31st March 2021.

1. EXTRACT OF ANNUAL RETURN {SECTION 92(3)}

Pursuant to Section 92(3) of the Companies Act 2013 read with Rule 12(1) of companies(Management and Administration) Rules 2014 the extract of Annual Return in theprescribed from i.e. Form MGT-9 is annexed herewith as "Annexure - I" whichforms part of annual report. Members may note that the copy of Annual Return will also bemade available on the Company's website: https://www.supremesteels.com/mgt9.php

2. NUMBER OF BOARD MEETINGS

The Board of Directors duly met 7 times during financial year 2020-2021.

3. DIRECTOR RESPONSIBILITY STATEMENT

Pursuant to the requirement of section 134(5) of the Companies Act 2013 theDirector's here by confirm that:

I. In the preparation of the annual accounts the applicable accounting standards hadbeen followed along with proper explanation relating to material departure.

II. The Directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that are responsible and prudent so as to give a true andfair view of the state of affairs of the Company at the end of financial year and of theprofit and loss of the Company for that period.

III. 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 the fraud and irregularities.

IV. The Directors had prepared the annual accounts on a going concern basis.

V. The Directors in case of a listed Company had laid down internal financialcontrols to be followed by the Company and that such internal financial controls areadequate and were operating effectively.

VI. The Directors had devised the proper system to ensure the compliance with theprovisions of all applicable laws and that such systems were adequate and operatingeffectively.

4. SHARE CAPITAL

As on 31st March 2021 The Authorized Capital is Rs. 251000000comprising of 25100000 Equity Shares of Rs. 10 each.

The Paid-up Equity Share Capital of your Company as on 31st March 2021 wasRs. 249950000 comprising of 24995000 Equity Shares of Rs. 10 each.

5. DEPOSITS

Except the exempted deposits the Company has neither accepted nor renewed any depositswithin the meaning of Companies (Acceptance of Deposits) Rules 2014.

6. DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THEFINANCIAL STATEMENTS

The Company has an adequate Internal Control System commensurate with size scale andcomplexity of its operations. They have been designed to provide reasonable assurance withregard to recording and providing reliable financial and operational informationcomplying with applicable statutes safeguarding assets from unauthorized use executingtransactions with proper authorization and ensure compliance of corporate policies. It hascontinued its efforts to align all its processes and controls with global best practices.

All the transactions are properly authorized recorded and reported to the Management.The Company is following all the applicable Accounting Standards for properly maintainingthe Books of Accounts and preparation of Financial Statements.

7. STATEMENT OF DECLARATION BY INDEPENDENT DIRECTOR: (Section 134)

The Independent Directors of the Company have given the declaration to the Company thatthey meet the criteria of independence as provided in section 149(6) as well as underregulation 25 of (LODR) Regulation 2015. There has been no change in the circumstanceswhich may affect their status as Independent Director during the year.

8. COMPANY'S POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION AND OTHER DETAILS:

The Nomination and Remuneration Committee has laid down the criteria for DirectorsAppointment and Remuneration including criteria for determining qualification positiveattributes and Independence of Director. The following attribute/criteria for selectionhave been laid by the board on the recommendation of committee:

• The candidate should possess the positive attributes such as leadershipentrepreneurship or such other attributes which in the opinion of the committee are in theinterest of the Company.

• The candidate should be free from any disqualification as provided undersections 164 and 167 of Companies Act 2013

• The candidate should meet the conditions of being independent as stipulatedunder the companies act 2013

• The appointment or re- appointment of a Director is made pursuant to anestablished procedure which includes assessment of managerial skills professionalbehavior technical skills and other requirements as may be required by the post.

• The Executive and Whole-time Directors of the Company are paid remuneration asper their terms and conditions which are approved by the Board after taking intoconsideration the recommendations made by Nomination and Remuneration Committee.

9. AUDITORS Statutory Auditor:

R.T. Jain & Co. LLP Chartered Accountants bearing FRN: 103961W/W100182 theCompany's Statutory Auditors of the Company in accordance with the provisions of the actto hold the office from the conclusion of 31st Annual General Meeting till theconclusion of 36th Annual General Meeting for a single tenure of 5 (five)years.

The Notes on financial statements referred to in the Auditors' Report areself-explanatory and do not call for any further comments. The qualification reservationand adverse remarks are mentioned in the Auditor's Report.

Internal Auditors:

Pursuant to the provision of section 138 of the Companies Act 2013 and the Companies(Accounts) Rules 2014 the Company has appointed M/s NandKishore & Co. CharteredAccountants Mumbai (FRN- 139699W) as an Internal Auditor of the Company for the yearunder review by the Board of Directors upon recommendation of the Audit committee.

Cost Auditors:

Pursuant to section 148 (3) of the Companies Act 2013 and Rule 6(2) of the Companies(Cost records and Audit Rules) 2014 Dinesh Jain & Company Cost Accountants(Registration No. 100583) are appointed as the Cost Auditors of the Company to conductaudit of cost records made and maintained by the Company for Financial year commencing on1st April 2020 and ending on 31st March 2021 at a remuneration of Rs. 50000 (RupeesFifty Thousand only) p.a. plus Service Tax & re-imbursement of out-of- pocketexpenses.

Secretarial Auditor:

Pursuant to the provision of section 204 of the Companies Act 2013 and the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Company hasappointed M/s. SVN & Associates Practicing Company Secretary Mumbai bearing C.P No.- 14125 to undertake the Secretarial Audit of the Company for the Financial Year2020-2021.

The Secretarial Auditor has submitted his report on Secretarial Audit conducted by himwhich is annexed to this report as "Annexure IV". The Secretarial Audit reportcontains qualification reservation or adverse remark as follows:

1. The Company was required to conduct cost audit as per the provisions of section 148of the Companies Act 2013 however the same has not been complied with.

Management's reply: Due to outbreak of COVID 19 pandemic and owing to the disruption ofoperations in the factory at both units the Company was unable to provide the data forCost Audit. The Company is in process of conducting the Cost Audit shortly.

10. LOAN GUARANTEE AND INVESTMENT BY COMPANY: (SECTION 186)

Pursuant to the requirements under Section 134(3) (g) of the Companies Act 2013Details of loans Guarantees or investments covered under the provisions of Section 186 ofthe Companies Act 2013 are given in the notes of Financial Statements forming part ofthis Annual Report.

11. RELATED PARTIES TRANSACTION

During the year under review all the related party transactions were in the ordinarycourse of the business and on arm's length basis. Those transactions were placed beforethe Audit committee of Directors for prior approval in the form of omnibus approval.

During the year under review the Company had not entered into any arrangement/transaction/ contract with related parties which could be considered material inaccordance with the policy of the Company on materiality of related party transactions.Accordingly the disclosure of Related Party Transactions under Section 188(1) of theCompanies Act 2013 in Form AOC-2 is not applicable.

Necessary disclosures as required by the Indian Accounting Standards have been made inthe notes to the financial statements forming part of this Annual Report.

12. FINANCIAL RESULTS:

(Amt. in lacs)

Particulars For the F.Y. ended 31st March 2021 For the F.Y. ended 31st March 2020
Revenue from Operations 6999.08 16689.93
Other Income 300.78 104.39
Total Revenue 7299.85 16794.32
Profit/(loss) before Finance Cost Depreciation Extraordinary items & Taxes 917.38 1756.56
Less: Finance Cost 977.02 994.12
Less: Depreciation & Amortization Expenses 253.24 270.20
Profit/ (Loss) Before Prior Period Items and Taxes (312.88) 492.24
Exceptional and Extra Ordinary Items 0.00 0.00
Profit/( Loss) Before Tax (PBT) (312.88) 492.24
Less: Provision for Tax 0.00 132.48
Less: Deferred Tax (17.44) (11.63)
Profit/ (Loss) After Tax (295.44) 371.40
Other Comprehensive Income 0.69 9.70

13. RESERVES:

There is no amount proposed to be transferred to reserves.

14. IPO PROCEEDS & DEPLOYMENT FUNDS:

The Company has successfully come up with an Initial Public Offer of 6576000 freshequity shares and OFS of 8000 equity shares of Rs. 10 each at a price of Rs. 27 per shareincluding premium of Rs. 17 each aggregating to Rs. 1777.68 Lakhs and got listed on NSEEmerge Platform of National Stock Exchange of India Limited on 6th September 2018.

Statement of deviation/ Variation in Utilization of funds raised during IPO as on31.03.2021 is as follows:

Particulars Amount allotted for object of the issue as disclosed in Offer Document Actual Utilization till 31st March 2021 Balance amount to be utilized Deviation (if any)
Part finance the Working Capital requirements 700.00 700.00 0.00 Nil
Part repayment of High Cost Debt 467.12 467.12 0.00 Nil
Capital Expenditure 95.07 43.18 51.89 Nil
General Corporate Purpose 300.00 300.00 0.00 Nil
IPO Issue expenses 213.33 213.33 0.00 Nil
Total 1775.52 1723.63 51.89

15. STATE OF COMPANY'S AFFAIRS:

Your Company has achieved the Total Turnover of Rs. 69.99 Crores during Financial Year2020-2021 as against the Turnover of 2019-2020 Rs. 166.89 Crores showing steep decrease of58% over the Previous Year. The management puts continuous efforts to increase theoperational efficiency and turnover. Similarly the Net loss of your Company duringFinancial Year 2020-2021 is Rs. 2.95 Crores as against the Net Profit of 2019-2020 Rs.3.71 Crores.

16. DIVIDEND:

In view the losses incurred by the Company the Directors do not recommend dividend forthis year.

17. IMPACT OF COVID -19 ON BUSINESS:

In view of the nationwide lockdown and restrictions due to COVID-19 Pandemic thebusiness has been hit severely and it has posed challenges to the operations of thebusiness of the Company. The Operations at both the units Rabale and Khopoli weresuspended since Wednesday 25th March 2020 till 3rd week of May 2020. Various restrictionsrelated to operations and mobility have impacted the Company's business and resultingeffect on revenue and profitability. Hence the pandemic has impacted production andbusiness operations during lockdown period and thereafter. The dispatches were badly hitin the end of March 2020. The Company has adopted the provisions of the StandardOperating Procedure (SOP) in line with announcement of the Ministry of Home AffairsGovernment of India and was cautiously planning its operations in line with the directivesissued by the Government and the regulatory bodies from time to time.

18. MATERIAL CHANGES AND COMMITMENTS IF ANY AFFECTING THE FINANCIAL POSITION OF THECOMPANY AS ON DATE OF BALANCESHEET:

1. The Board approved the following resolution in Board Meeting dated 05thAugust 2020:

• Approve the appointment of Mr. Sanjeev Khandelwal (DIN: 08780152) as AdditionalIndependent Director of the Company for a period of 5 years subject to approval ofshareholders in the next Annual General Meeting.

• Approve the appointment of Mr. Dinesh Kumar Likhi (DIN: 03552634) as AdditionalIndependent Director of the Company for a period of 5 years subject to approval ofshareholders in the next Annual General Meeting.

• Approved cessation of Mr. Lalita Chowdhri Non executive Director as Chairpersonof the Company.

• Approved the Re-designation of Mr. Sanjay Chowdhri as Chairman and ManagingDirector of the Company.

• Consider and approved the appointment of Mrs. Krupali Thakkar as CompanySecretary and Compliance Officer (CS & KMP) of the Company.

• Consider and approved the appointment of Mr. Vijay Salate as Chief FinancialOfficer (CFO & KMP) of the Company.

• Approved Related Party Policy of the Company.

• Approved Terms and Conditions for appointment of Independent Directors Policy.

• Approved Nomination and Remuneration Policy of the Company.

• Approved the Reconstitution of Committees of the Company.

2. The Board approved the following resolution in Board Meeting dated 10thSeptember 2020:

• Applied for the Migration of the Company from SME Platform of National StockExchange of India Limited i.e. NSE Emerge to Main Board of National Stock Exchange ofIndia Limited;

• Appointment of Dinesh Jain & Company Practising Cost Accountants as CostAuditors for the F.Y. 2020- 2021 of the Company.

3. The Company got migrated to Main Board of National Stock Exchange of India Limitedon 04th December 2020.

4. The Board approved the following resolution in Board Meeting dated 08thMarch 2021:

• To approve appointment of Internal Auditors of the Company for the F.Y.2020-2021.

• To take note of resignation of Mr. Vijay Salate as Chief Financial Officer &Key Managerial Personnel of the Company.

• To consider and approve the appointment of Mr. Amol Dhuldhule as Chief FinancialOfficer (CFO & KMP) of the Company.

19. MATERIAL CHANGES AND COMMITMENTS IF ANY AFFECTING THE FINANCIAL POSITION OFCOMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICHTHE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT;

1. The Board approved the following resolution in Board Meeting dated 30thJune 2021:

• To consider and approve the appointment Cost Auditor of the Company for theFinancial Year 20212022.

• To consider and approve the appointment of Internal Auditor of the Company forthe Financial Year

2021- 2022.

20. CONSERVATION OF ENERGY TECHNOLOGICAL ABSORPTION FOREIGN EXCHANGE EARNINGS ANDOUTGO:

(A) Conservation of energy:

Steps taken/ impact on Conservation of energy with special reference to the following:

(i) Steps taken by the Company for optimizing electrical consumption:

• Steps taken by company for optimising electrical consumption: Installation ofcapacitors for reduction of PF thereby saving electricity consumption.

(ii) Capital Investment on energy conversion equipment's - N.A.

(B) Technology Absorption:

1. Efforts in brief made towards technology absorption -N.A.

2. Benefits derived as a result of the above efforts for e.g. products improvementcost reduction product development import substitution etc - N.A.

3. No technology was imported during the last 3 years - N.A.

4. Expenditure incurred on Research and Development - N.A.

(C) Foreign exchange Earnings and Outgo:

PARTICULARS AMOUNT (Rs. In lacs)
Foreign Exchange earned in terms of actual Inflows during the year 0.72
Foreign Exchange outgo during the year in terms of actual Outflows 192.78

21. RISK MANAGEMENT POLICY:

The Management has put in place adequate and effective system and man power for thepurpose of Risk Management. In the opinion of the Board there are no risks which wouldthreaten the existence of the Company.

22. CORPORATE SOCIAL RESPONSIBILITY (CSR):

The Company has formulated Corporate Social Responsibility (CSR) Policy and the AnnualReport on CSR activities for the financial year 2020-2021 is enclosed as "AnnexureII"

23. FORMAL ANNUAL EVALUATION:

The formal annual evaluation of Directors is made depending upon Companies EvaluationPolicy.

24. DISCLOSURE IN RESPECT OF SCHEME FORMULATED UNDER SECTION 67(3) OF THE COMPANIESACT 2013

Since the Company has not formulated any scheme in terms of Section 67(3) of theCompanies Act 2013 no disclosures are required to be made.

25. REVISION OF FINANCIAL STATEMENTS OR BOARD'S REPORT {SECTION 131(1)S}

The Company has not made any modification or alteration in its Financial Statement /Board Report in respect of last Four Years.

26. BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNELS:

APPOINTMENT/RE-APPOINTMENT OF DIRECTORS:

In accordance with the requirements of Companies Act 2013 Mrs. Lalita Chowdhri Non-Executive Director of the Company will retire by rotation at the ensuing Annual Generalmeeting and being eligible offers herself for re-appointment. Your Board recommendsre-appointment Mrs. Lalita Chowdhri (DIN: 00096419) at the ensuing Annual General Meeting.A brief resume nature of expertise details of directorships held in other companies andother information of Mrs. Lalita Chowdhri (DIN:00096419) proposing re-appointment pursuantto the provisions of the Companies Act 2013 and Listing Obligations & DisclosureRequirement Regulations 2015 is appended as an annexure to the notice of ensuing AnnualGeneral Meeting.

Mr. Sanjeev Khandelwal (DIN:) and Dr. Dinesh Likhi (DIN:) were appointed as AdditionalDirectors under category of Independent Directors on the Board of the Company w.e.f. 05thAugust 2020 for a term of five consecutive years not liable to retire by rotation forwhich approval was obtained by the members of the Company in the 33rd AGM heldon 24th December 2020.

The Board is of the opinion that the Independent Directors of the Company possessrequisite qualifications experience and expertise (including the proficiency) requiredfor their appointment and they hold highest standards of integrity. The Board herebyconfirms that all the Independent Directors of the Company have given declaration and haveconfirmed that they met the criteria of Independence as prescribed under the CompaniesAct 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations2015.

None of the aforesaid Directors are disqualified under Section 164(2) of the CompaniesAct 2013. Further they are not debarred from holding the office of Director pursuant toorder of SEBI or any other authority.

During the year under review following were the changes in Directors and KeyManagerial Personnel (KMPs):

Sr. Name of No. Directors/KMPs Designation Date of Change Reason
1. Mr. Vijay Salate Chief Financial officer 05th August 2020 Appointment
2. Mrs. Krupali Thakkar Company Secretary and Compliance Officer 05th August 2020 Appointment
3. Mr. Sanjeev Khandelwal Independent Director 05th August 2020 Appointment
4. Dr. Dinesh Likhi Independent Director 05th August 2020 Appointment
5. Mr. Vijay Salate Chief Financial officer 16th February 2021 Resignation
6. Mr. Amol Dhuldhule Chief Financial officer 08th March 2021 Appointment

27. DETAILS OF COMMITTEES:

As per the requirements under Companies Act 2013 and SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 the Board of Directors has constituted variousCommittees of Board such as Audit Committee Nomination & Remuneration CommitteeStakeholders Relationship Committee and Corporate Social Responsibility Committee. Thedetails of composition and terms of reference of these Committees are mentioned in theCorporate Governance Report.

28. DISCLOSURE PURSUANT TO SECTION 197(14) OF THE COMPANIES ACT 2013

No Managing Director or Whole- Time Director of the Company was in receipt of anyremuneration or commission from the Company's Holding or Subsidiary companies during thefinancial year.

29. PERFORMANCE AND FIANANCIAL POSITION OF EACH OF THE SUBSIDIARIES ASSOCIATES ANDJOINT VENTURE COMPANIES:

There are no Subsidiaries Associates and Joint Venture Companies of the Company.

30. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTIONPROHIBITION AND REDRESSAL) ACT 2013:

The Company has in place an anti-harassment policy in line with the requirements of theSexual Harassment of women at workplace (Prevention Prohibition and Redressal) Act 2013.Internal Complaint Committee has been set up to redress complaints received regularly andare monitored by women line supervisors who directly report to the Chairperson of thecommittee.

31. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

A report on Management Discussion and Analysis as required in terms of Regulation34(2) of the Securities Exchange Board of India (Listing Obligation and DisclosureRequirement) Regulations 2015 form part of this report. It deals with the businessoperations and Financial performance Research and Development Expansion &Diversification Risk Management etc is enclosed as per "Annexure IV".

32. CORPORATE GOVERNANCE REPORT

Your Company will continue to uphold the true spirit of Corporate Governance andimplement the best governance practices. A report on Corporate Governance pursuant to theprovisions of Corporate Governance Code stipulated under SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 is enclosed. Full details of the various boardcommittees are also provided therein along with Secretarial Auditors' Certificateregarding compliance of conditions of corporate governance.

33. PARTICULAR OF EMPLOYEES

The Company has no employees who is in receipt of remuneration of Rs. 850000 permonth/-or Rs. 10200000 per annum and hence the company is not required to give theirinformation under Sub Rule 2 and 3 of Rule 5 of Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014.

34. DISCLOSURE PURSUANT TO SECTION 197(12) OF THE COMPANIES ACT 2013 AND RULE 5 OF THECOMPANIES (APPOINTMENT & REMUNERATION) RULES 2014

Sr. No. Particulars
1. the ratio of remuneration of each director to the median remuneration of the employees of the Company for the financial year Name of Directors Ratio
Mr. Sanjay Chowdhri 33.21:1
Mr. Abhinav Chowdhri 13.29:1

 

2. Percentage increase in Remuneration of each director chief financial officer chief executive officer company secretary or manager if any Krupali Thakkar (CS)- (0.06)% Pranav Chowdhri(CEO)- 30.56% Sanjay Chowdhri (MD)- No change CFO*- refer note Abhinav Chowdhri (WTD)-14.29%

 

3. Percentage increase in the median remuneration of employees in the financial year There was decrease in remuneration by 35.22 %
4. Number of permanent employees on the rolls of Company 29
5. Average Percentile increase already made in the salaries of employees other than managerial personnel in last financial year and Its comparison with percentile increase in managerial remuneration and Justification thereof and point out if there are any exceptional circumstances for increase in managerial remuneration. Average Percentile decrease in the salaries of employees 35.22% Average Percentile increase in the salaries of managerial remuneration 3.70%
For managerial remuneration CFO Salary consists of Mr. Vijay Salate (05.08.202016.02.2021) and Mr. Amol Dhuldhule’s salary (March 2021) CS Salary has been counted w.e.f 05.08.2020
6. Affirmation It is affirmed that remuneration is as per the Nomination & Remuneration policy of the Company.

Notes:

• The remuneration paid to Managing Director includes salary contribution toProvident Fund Superannuation Fund etc.

• CFO Salary consists of Mr. Vijay Salate (05.08.2020-16.02.2021) and Mr. AmolDhuldhule's salary (March 2021) CS Salary has been counted w.e.f 05.08.2020.

• Therefore the percentage increase in salary can't be ascertained.

• The remuneration details are disclosed as below:

Name Particulars Remuneration (Rs.)
2020-2021 2019-2020
Mr. Sanjay Chowdhri Managing Director 6000000 6000000
Mr. Abhinav Chowdhri Executive Director 2400000 2100000
Mr. Pranav Chowdhri Chief Executive Officer 2350000 1800000
Mrs. Krupali Thakkar CS & Compliance Officer *386869 412000
Mr. Vijay Salate Chief Financial Officer *45000 NIL
Mr. Amol Dhuldhule Chief Financial Officer *27571 NIL

CFO Salary consists of Mr. Vijay Salate (05.08.2020-16.02.2021) and Mr. AmolDhuldhule's salary (March 2021) CS Salary has been counted w.e.f 05.08.2020 Note: Thesalary of KMPs is on the basis of Gross salary.

35. ANNUAL GENERAL MEETINGS:

Details of last three AGM of the Company are as under:

Sr. AGM No. No. Date Place
1. Thirtieth 30th September 2017 Registered Office: Rabale Navi Mumbai
2. Thirty First 28th September 2018 Registered Office: Rabale Navi Mumbai
3. Thirty Second 27th September 2019 Hotel Ramada 156 Millennium Business Park MIDC Mahape Navi Mumbai Maharashtra 400 710

36. EXTRA-ORDINARY GENERAL MEETINGS:

Details of Extra-Ordinary General meetings of the Company for the F.Y. 2020-2021 are asunder: No extra Ordinary General Meetings held in F.Y. 2020-2021

37. ACKNOWLEDGEMENT:

The Board of Directors gratefully acknowledges the assistance and co-operation receivedfrom the Bank of India and all other statutory and non-statutory agencies for theirco-operation. The Board of Directors also wish to place on record their gratitude andappreciation to the members for their trust and confidence shown in the Company. The Boardof Directors would like to especially thank all the employees of the Company for theirdedication and loyalty.

By order of the Board
For Supreme Engineering Limited
Sd/- Sd/-
Sanjay Chowdhri Abhinav Chowdhri
Managing Director Executive Director
00095990 07121484
Place: Navi Mumbai
Date: 29th October 2021

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