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Supreme Holdings & Hospitality Ltd.

BSE: 530677 Sector: Infrastructure
NSE: N.A. ISIN Code: INE822E01011
BSE 00:00 | 12 Aug 99.70 -4.10
(-3.95%)
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NSE 05:30 | 01 Jan Supreme Holdings & Hospitality Ltd
OPEN 98.65
PREVIOUS CLOSE 103.80
VOLUME 61881
52-Week high 125.25
52-Week low 9.44
P/E 27.09
Mkt Cap.(Rs cr) 354
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 98.65
CLOSE 103.80
VOLUME 61881
52-Week high 125.25
52-Week low 9.44
P/E 27.09
Mkt Cap.(Rs cr) 354
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Supreme Holdings & Hospitality Ltd. (SUPREMEHOLDINGS) - Director Report

Company director report

The Members of SUPREME HOLDINGS & HOSPITALITY (INDIA) LIMITED

Your Directors have pleasure in presenting Thirty Ninth Annual Report and AuditedAccounts of the Company for the financial year ended 31st March 2021.

Financial Results and the State of Affairs:

A) Standalone

Particulars FY 2020-21 FY 2019-20
Total Income 4549.28 7875.75
Total Expenditure (excluding depreciation) 4405.61 7047.27
Profit before depreciation and Tax 143.67 828.48
Depreciation 38.41 30.41
Profit before Tax 105.26 798.07
Tax Expenses:
Current Tax 4.58 100.99
Deferred Tax (net) (28.78) 1.98
Net Profit for the year 129.46 695.10
Other Comprehensive Income (Net of Tax) 4.57 10.61
Total Comprehensive Income 134.03 705.71

B) Consolidated

Particulars FY 2020-21 FY 2019-20
Total Income 4555.41 7876.76
Total Expenditure (excluding depreciation) 4406.25 7071.16
Profit before depreciation and Tax 149.16 805.60
Depreciation 38.41 30.41
Profit before Tax 110.75 775.19
Tax Expenses:
Current Tax 4.58 100.99
Deferred Tax (net) (27.18) (3.98)
Net Profit for the year 133.35 678.19
Other Comprehensive Income (Net of Tax) (174.42) (276.57)
Total Comprehensive Income (41.07) 401.61

Review of Operations:

The Company is operating in the Construction and development of residential andcommercial projects.

The revenue from real estate activity is recognised in accordance with the"Guidance Note on Accounting for Real Estate Transactions (for entities to whom IndAS is applicable)" issued by the Institute of Chartered Accountants of India (ICAI).

During the year under review the total Income of the Company was at Rs. 4549.28 Lakhsas compared to Rs. 7875.75 Lakhs in the previous year. The Company has reported net profitof Rs. 129.46 lakhs during the year under review as against profit of Rs. 695.10 lakhs inthe previous year.

PANVEL

The Company's Land at Panvel Taluka falls under the Navi Mumbai Airport InfluenceNotified Area (NAINA) and CIDCO was appointed as the Special Planning Authority for theNAINA. The CIDCO had announced the Town Planning Schemes (TPS) for NAINA in phase-wisemanner. However the COVID Pandemic has delayed the plot allotment process and otherprocedures hence no progress has been made so far.

BELMAC RIVERSIDE

The Joint Development of residential project in the name of "BELMACRIVERSIDE" on the Land admeasuring 3.9 acres approx. situated at Village AkurliTaluka Panvel District Raigad is in progress as per the respective schedule. The projectcomprises of 1BHK units and 2BHK units in 3 to 7 storey buildings.

Phase I of the Project has been partly completed and accordingly the part occupancycertificate of the Building is received.

BELMAC RESIDENCES

The residential project of the Company in Pune is progressing satisfactorily. Theproject comprises of 6 Buildings of 15 story each of 2 BHK/3BHK/4BHK beautiful apartmentswith huge central garden clubhouse squash court five-aside football court Hydroponicfarm Spa Business Centre Gymnasium banquet Hall Children play area Concierge deskGames room Day care Centre and many more facilities. The Project is RERA Compliant andbeing Developed in phases. The first Phase consisting of two Buildings has been completed.

The Second phase of the Project has reached near completion stage. The response of theproject is satisfactory.

The Corona virus (COVID-19) pandemic

As Members are aware since March 2020 the Country and the World has been seeing theimpact due to COVID-19 pandemic. With a significant increase in number of cases in early2020 the Government has been taking various measures including a national lockdown forthree months to contain the virus which in turn affected economic activity in the Country.Your Company

has taken various measures to monitor and mitigate the effects of COVID-19 such assafety and health measures for employees (e.g. social distancing personal hygieneworking from home) and securing the supply of materials that are essential forconstruction process to ensure business continuity.

Dividend:

The Board thought it fit to conserve cash for continuing its business operationssmoothly as far as may be given the uncertainties associated with the nature of COVID-19pandemic and its duration and therefore did not recommend any dividend for thefinancial year 2020-21.

Transfer to Reserves:

The Company has not transferred any amount to the reserves during the financial year2020-21.

Share Capital:

The authorized share capital of the Company is Rs. 400000000 divided into40000000 equity shares of Rs. 10 each. At the beginning of the year under review theissued subscribed and fully paid up capital was Rs. 354768530 divided into 35476853equity shares of Rs. 10 each. There was no change in the issued subscribed and fully paidup share capital of the Company during the year under review. The Company is a publiclimited company and its equity shares are listed on the BSE Limited.

There was no buyback offer made by the Company during the period under review.

Change in Nature of Business:

There is no change in the nature of business of the Company during the year underreview.

Deposits under Chapter V of Companies Act 2013:

During the year under review your Company did not accept any deposit within themeaning of the provisions of Chapter V - Acceptance of Deposits by Companies of theCompanies Act 2013 read with the Companies (Acceptance of Deposits) Rules 2014. Henceno amount on account of principal or interest on public deposits was outstanding as on thedate of the balance sheet.

Particulars of Loans Guarantees Securities or Investments under Section 186

The particulars of loans guarantees and investments as per Section 186 of theCompanies Act 2013 by the Company have been disclosed in the financial statementsprovided in this annual report.

Transfer to Investor Education and Protection Fund:

During the year 36600 equity shares of the Company were transferred to the InvestorEducation and Protection Fund established by the Central Government.

Extract of Annual Return:

As per the requirements of Section 92(3) of the Act and Rules framed thereunder theextract of the Annual Return for FY 2020-21 is uploaded on the website of the Company www.supremeholdings.net.

Particulars of Employees:

The information on employee particulars as required under Section 197(12) of the Actread with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014 as amended from time to time are given in "Annexure -I" forming part of this report.

Particulars of Contracts or Arrangements with Related Parties:

During the financial year all the transactions with related parties were in theordinary course of business and on an arm's length basis; and there were no materialcontracts or arrangements or transactions at arm's length basis or otherwise. Therefore :disclosure in Form AOC-2 is not applicable to the Company.

The policy on Related Party Transactions is hosted on the : website of the Companyunder the web link https://www.

: supremeholdings.net/company-policies.htm

Subsidiary Company:

Your Company has one Wholly-owned Subsidiary company namely Helmet Traderz Limited ason 31st March 2021.

As per the provisions of Section 129 of the Companies Act 2013 read with Rule 5 ofCompanies (Accounts) Rules 2014 a separate statement containing the salient features ofthe Financial Statements of the Subsidiary Companies/ Associate Companies/Joint Venturesin Form AOC-1 is annexed to this Board's Report in "Annexure II".

The policy on determining Material Subsidiaries as approved by the Board is hosted onthe website of the Company under the web link https://www.supremeholdings.net/company-policies.htm

Nomination and Remuneration Committee:

The Company has in place a Nomination and Remuneration Committee in accordance with therequirements of the ; Companies Act 2013 read with the rules made thereunder andRegulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations2015. The details relating to the same are given in "Annexure III" - Report onCorporate : Governance forming part of this Board Report.

Material Changes and Commitments affecting the financial position of the company:

There have been no material changes and commitments : affecting thefinancial position of the Company which have

occurred between the end of the financial year of the Company to which the financialstatements relate and the date of the report.

Vigil Mechanism/Whistle Blower Policy:

The Company has a Whistle Blower Policy and has established the necessary vigilmechanism for directors and employees in confirmation with Section 177(9) of the Act andRegulation 22 of Listing Regulations to report concerns about unethical behaviour ThisPolicy is available on the Company's website on under the web linkhttp://www.supremeholdings.net/ company-policies.htm

Corporate Governance Report and Management Discussion and Analysis Report

Your Company continues to be committed to good corporate governance aligned with thebest corporate practices. It has also complied with various standards set out bySecurities and Exchange Board of India and the Bombay Stock Exchange (BSE). The ManagementDiscussion and Analysis Report for the financial year 2020-21 as stipulated under SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 forms part of theAnnual Report.

For the financial year ended 31st March 2021 your Company has compliedwith the requirements of SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 and other applicable rules and regulations with respect to CorporateGovernance.

A certificate from a Company's Auditors obtained by the Company regarding suchcompliance of conditions of Corporate Governance is annexed to the Corporate GovernanceReport which forms part of the Annual Report.

Risk Management:

The Company has adequate risk assessment and mitigation policy commensurate with sizeand nature of business to ensure that all the current and future material risk exposuresof the Company are identified assessed quantified appropriately mitigated minimisedand managed. There are no elements of risk which in the opinion of the Board may threatenthe existence of the Company.

Directors and Key Managerial Personnel:

Mr. Vidip Jatia Managing Director whose tenure as Managing Director expired on 12thMay 2020 was re-appointed by the Board of Directors of the Company for a further periodof 3 years w.e.f. 13th May 2020 to 12th May 2023 subject toapproval of shareholders at the ensuing Annual General Meeting of the Company and theapproval of applicable statutory authorities. The members in the 38th AnnualGeneral Meeting held on 30th September 2020 approved the appointment of Mr.Vidip Jatia as Managing Director for a period of 3 years w.e.f 13th May 2020to 12th May 2023. Mr. Vidip Jatia is not debarred from holding of office ofDirector pursuant to any Securities and Exchange Board of India Order or any other suchauthority.

The Members in the 38th Annual General Meeting held on 30thSeptember 2020 ('AGM") approved the appointment of Mr. Raghav Agarwala (DIN:02109541) and Mr. Romie Halan (DIN: 02816976) as an Independent Directors for a term offive

consecutive years from 13th November 2019 and 25th August 2020respectively. Mrs. Shruti Jatia (DIN: 05009237) was appointed as Independent Director ofthe Company for another term of five consecutive years effective from 10thMarch

2020 in the AGM held on 30th September 2020. Mrs. Namita Jatia (DIN:07660840) was appointed as Wholetime Director designated as Executive Director for aperiod of 3 (Three) years with effect from 14th February 2020 up to 13thFebruary 2023 in the AGM held on 30th September 2020

Mr. Kailash Sharma Company Secretary and Compliance officer of the Company tenderedhis resignation from the position of Company Secretary and Compliance Officer with effectfrom closing of working hours of 15th December 2020. Accordingly he ceases tobe the Company Secretary & Compliance Officer of the Company with effect from the saiddate. Pursuant to the recommendation of the Nomination and Remuneration Committee theBoard at its Meeting held on 11th February 2021 approved the appointment ofMr. Rohan Chinchkar as the Company Secretary with effect from 11th February2021.

As per the provisions of the Companies Act 2013 Mr. Vidip Jatia will retire byrotation at the ensuing AGM and being eligible seek re-appointment.

Declaration of Independence:

The Company has received Declarations of Independence as stipulated under Section149(7) of the Companies Act 2013 from Independent Directors confirming that he/she is notdisqualified from appointing/continuing as Independent Director as laid down in section149(6) of the Companies Act 2013 and Regulation 16(1)(b) of SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015. The Independent Directors have complied withthe Code for Independent Directors prescribed in Schedule IV to the Companies Act 2013.

The Independent Directors of the Company have registered themselves with the data bankmaintained by Indian Institute of Corporate Affairs (IICA). In terms of Section 150 of theAct read with Rule 6(4) of the Companies (Appointment & Qualification of Directors)Rules 2014 the Independent Directors are required to undertake online proficiencyselfassessment test conducted by the IICA within a period of three (3) years from the dateof inclusion of their names in the data bank. The said online proficiency self-assessmenttest will be undertaken by the Independent Directors of the Company as applicable withinthe prescribed timelines.

The Independent Directors have also confirmed that they are not aware of anycircumstance or situation which exists or may be reasonably anticipated that could impairor impact their ability to discharge their duties.

The Board of Directors based on the declaration(s) received from the IndependentDirectors have verified the veracity of such disclosures and confirm that the IndependentDirectors fulfill the conditions of independence specified in the Listing Regulations andthe Companies Act 2013 and are independent of the management of the Company.

In the opinion of the Board all the independent directors are persons of possessingattributes of integrity expertise and experience as required under the applicable lawsrules and regulations.

The Company has issued letters of appointment/ reappointment to Independent Directorsin the manner as provided under Companies Act 2013.

Annual Evaluation of the Performance of the Board Committees and Directors:

The Board of Directors has carried out an annual evaluation of its own performanceboard committees and individual directors pursuant to the provisions of the CompaniesAct 2013 and SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015.

In a separate meeting of independent directors performance of non-independentdirectors the board as a whole and the Chairman of the Company was evaluated. Furtherthe Independent Directors in the said meeting had also assessed the quality quantity andtimeliness of flow of information between the Company management and the Board.

Performance evaluation of independent directors was done by the entire board excludingthe independent director being evaluated.

The performance evaluation of the board was based on the criteria such as the boardcomposition and structure information and functioning succession planning strategicplanning etc.

The performance evaluation of the Committees was based on the criteria such asStructure of the Committee and meetings effectiveness of committee meetings frequency ofthe meetings etc.

Familiarisation Programme for Independent Directors:

Pursuant to requirements of Regulation 25 of SEBI Listing Regulations 2015 yourCompany has in place the familiarisation programme for Independent Directors with regardto their role duties and responsibilities nature of the industry in which the Companyoperates business/operating model of the Company etc. The Board Members are provided withall necessary documents/reports and internal policies to enable them to familiarise withthe Company's procedures and practices. The details of the training and familiarizationprogram are provided in the Corporate Governance report.

The Company's Policy of conducting the Familiarization programme has been hosted on thewebsite of the Company under the web link http://www.supremeholdings.net/company-policies.htm

Number of Meetings of the Board of Directors:

During the financial year Six (6) Board Meetings were held. The details of which aregiven in the Corporate Governance Report which forms a part of the Annual Report. Theintervening gap

between the meetings was within the period prescribed under the Companies Act 2013.

Key Managerial Personnel:

Pursuant to the provisions of the Section 203 of the Companies Act 2013 the KeyManagerial Personnel of the Company as on the date of this Report are:

Mr. Vidip Jatia Chairman Managing Director and Chief Financial Officer

Mrs. Namita Jatia Whole-time Director

Mr. Rohan Chinchkar Company Secretary & Compliance Officer DirectorsResponsibility Statement:

Pursuant to the requirement under section 134 (3) (c) of the Companies Act 2013 withrespect to Directors' responsibility statement it is hereby confirmed:

i) That in the preparation of the accounts for the financial year ended 31stMarch 2021 the applicable Accounting Standards have been followed along with properexplanations relating to material departures;

ii) That the directors have selected such accounting policies and applied themconsistently and made judgments and estimates that are 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 that period;

iii) That the directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act 2013for safeguarding the assets of the company and for preventing and detecting fraud andother irregularities;

iv) That the directors have prepared the accounts on a going concern basis;

v) That Directors had laid down internal financial controls to be followed by theCompany and that such internal financial controls are adequate and were operatingeffectively;

vi) That the Directors had devised proper systems to ensure compliance with theprovisions of all applicable laws and that such systems were adequate and operatingeffectively.

Audit Committee:

The details pertaining to the composition of the Audit Committee are included in theCorporate Governance Report which is a part of this report.

Auditors and Auditors Report:

The Shareholders of the Company at the thirty seventh Annual General Meeting (AGM) heldon 26th September 2019 had appointed M/s. Mittal Agarwal & Co. CharteredAccountants (Firm Registration No. 131025W) as Statutory Auditors of the Company for aperiod of 5 years commencing from the

conclusion of Thirty seventh AGM till the conclusion of the Forty Second AGM.

Further vide Ministry of Corporate Affairs (MCA) notification dated May 7 2018 therequirement for ratification of appointment of Statutory Auditors by members at every AGMhas been dispensed with. Accordingly no such item has been considered in the Thirty NinthAGM Notice.

The Statutory Auditors Report does not contain any qualifications reservations oradverse remarks on the financial statements of the Company.

Secretarial Auditor:

Pursuant to the provisions of Section 204 of the Act and the rules made there underthe Company had appointed M/s. Khyati Shah & Co. Company Secretaries to undertakethe Secretarial Audit of the Company for the year ended 31st March 2021. TheSecretarial Audit Report in Form MR-3 is annexed as "Annexure - IV".

siaieems of the Copany.

Qualification in Secretarial Audit Report and Explanations by the Board:

Sr. No. Qualifications made by Secretarial Auditor Explanations by the Board
1. There was delay in transfer of 36600 Equity Shares on which dividend has not been paid or claimed for seven consecutive years or more pertaining to financial year 2004-2005 to the Investor Education and Protection Fund. The Company was in process of finding out and finalizing the number of shares for transfer and hence there was delay in the share transfer to IEPF.
2. The Composition of the Board of Directors of the Company was not in compliance with Regulation 17(1)(c) of the SEBI (LODR) Regulation 2015 for a period commencing from 1st April 2020 till 24th August 2020. The Company received an email dated 20th August 2020 from BSE Limited imposing a fine of Rs. 536900/- for the violation of Regulation 17(1) of SEBI (LODR) Regulations 2015 for the quarter ended 30th June 2020. The Company filed an appeal before the Securities Appellate Tribunal (SAT) and also wrote a letter dated 26th August 2020 to BSE Limited for waiver of the said fine. The BSE Limited vide its email dated 6th October 2020 approved the Company's request for waiver of fine. In view of above waiver SAT vide an order dated 7th October 2020 dismissed the appeal on the ground that it became infructuous. Thereafter the Company received another email on 17th November 2020 from BSE Limited imposing a fine of Rs. 324500/- for the violation of Regulation 17(1) of SEBI (LODR) Regulations 2015 for the quarter ended 30th September 2020. The Company wrote a letter dated 19th November 2020 to BSE Limited for waiver of the said fine. The BSE Limited vide its email dated 23rd June 2021 approved the Company's request for waiver of fine. The Company requested for waiver of fine. The BSE Limited vide its emails dated 6th October 2021 and 23rd June 2021 approved the Company's request for waiver of fine.

Disclosure requirements

The various policies and codes adopted by the Company are stated in detail in theCorporate Governance Report of the Company which forms part of the Annual Report.

The Company has devised proper systems to ensure compliance with the provisions of allapplicable Secretarial Standards issued by the Institute of Company Secretaries of Indiaand that such systems are adequate and operating effectively.

Details of Significant and Material Orders Passed by the Regulators Or Courts orTribunals:

During the year under review there were no material and significant orders passed bythe regulators or courts or tribunals impacting the going concern status and the Company'soperations in future.

Conservation of Energy Technology Absorption Foreign Exchange Earnings And Outgo:

A. Conservation of Energy

i. The steps taken or impact on conservation of energy:

Though our operations are not energy - intensive efforts have been made to conserveenergy by utilizing energy- efficient equipment.

ii. The steps taken by the Company for utilizing alternate sources of energy:

The Company is using electricity as the main source of energy and is currently notexploring any alternate source of energy. In future your Company will take steps toconserve energy and use alternative source of energy such as solar energy.

iii. The Capital investment on energy conservation equipment:

Your Company firmly believes that our planet is in dire need of energy resources andconservation is the best policy. Your Company has not made any investment on energyconservation equipment.

B. Technological Absorption:

i. The efforts made towards technology absorption:

During the year the Company does not have any plant & machinery. Therefore notechnology absorption and research and development activity are carried out.

ii. The benefits derived like product improvement cost reduction product developmentor import substitution:

No such specific benefit derived during the year due to technology absorption.

iii. In case of imported technology (imported during the last three years reckoned fromthe beginning of the financial year:

No technology has been imported by the Company. iv: The expenditure incurred onResearch and

Development: NIL

C. Foreign Exchange Earnings and Outgo

Foreign Exchange Earning: Nil (Previous year- Nil) Foreign Exchange Outgo: Sales andMarketing Expenses and Foreign Travelling Expenses- Rs.3.42 lakhs (Previous Year-Rs. 4.85Lakhs)

Disclosure under Sexual Harassment of Women at Workplace (Prevention Prohibition &Redressal) Act 2013:

The Company has zero tolerance for sexual harassment at workplace and has adopted aPolicy on Prevention Prohibition and Redressal of Sexual Harassment at workplace in linewith the provisions of the Sexual Harassment of Women at Workplace (PreventionProhibition and Redressal) Act 2013 (POSH) and the rules made thereunder. The Policy aimsto provide protection to employees at workplace and prevent and redress complaints ofsexual harassment and for matters connected or incidental thereto with the objective ofproviding a safe working environment where employees feel secure.

Further the Company has complied with provisions relating to the constitution ofInternal Complaints Committee under the Sexual Harassment of Women at Workplace(Prevention Prohibition and Redressal) Act 2013.

No complaints were received by the Company during the F.Y 2020-21.

Internal Financial Control and its Adequacy:

Your Company has implemented Internal Financial Controls over financial reportingthrough policies procedures and guidelines. The controls are tested for itseffectiveness. The

approved schedule of powers is used to control the approval process for variousactivities based on hierarchical value limits and segregation of duties.

A combination of these system enables your Company to maintain a robust design ofcontrols and its operating effectiveness is ensured through periodical internal checks andaudit.

Corporate Social Responsibility:

In compliance with the requirements of Section 135 of the Companies Act 2013 read withthe applicable rules made there under the Company has a duly constituted CSR Committee.The details of the Committee are provided in the Corporate Governance Report of theCompany which forms part of the Annual Report.

The contents of the CSR Policy of the Company as approved by the Board on therecommendation of the CSR Committee is available on the website of the Company and can beaccessed through the web link http://www.supremeholdings.net/ company-policies.htm. TheAnnual Report on CSR activities in terms of the requirements of Companies (CorporateSocial Responsibility Policy) Rules 2014 is annexed as "Annexure - V" whichforms part of this Report.

Details of Frauds Reported by Auditors

There were no frauds reported by the Statutory Auditors under the provisions of Section143(12) of the Companies Act 2013 and the Rules made there under.

Maintenance of Cost Records:

The provisions relating to maintenance of Cost Records and requirement of cost audit asspecified by the Central Government under Section 148 of the Companies Act 2013 is notapplicable to the Company.

ACKNOWLEDGEMENTS:

The Board of Directors wish to place on record their sincere appreciation andacknowledge with gratitude the support and co-operation extended by all the Governmentagencies shareholders and employees at all levels and look forwards for their continuedsupport.

For and on behalf of the Board
Sd/- Sd/-
Vidip Jatia Namita Prateek Jatia
Chairman & Managing Director Executive Director
DIN 06720329 DIN: 07660840

ANNEXUREI

PARTICULARS OF EMPLOYEES

A. Details pertaining to Remuneration of Directors / Key Managerial Personnel asrequired under Section 197(12) of the Companies Act 2013 read with Rule 5(1) of Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014

a) Ratio of remuneration of each director to the median remuneration of the employeesfor the financial year 2020-2021:

Name of the Directors Designation Ratio to median remuneration
Mr. Vidip Vinod Jatia Chairman Managing Director and Chief Financial Officer 18.28:1
Mrs. Namita Prateek Jatia Executive Director 18.28:1

Except Mr. Vidip Jatia and Mrs. Namita Jatia none of the Directors were paid anyremuneration during the year (Except sitting fees)

b) Percentage increase in remuneration of each director Chief Financial Officer ChiefExecutive Officer Company Secretary or Manager if any in the financial year 2020-21.

Director Chief Financial Officer Chief Executive Officer and Company Secretary Designation % increase in remuneration in financial year
Mr Vidip Vinod Jatia Chairman Managing Director and Chief Financial Officer 150.00%
Mrs. Namita Prateek Jatia Executive Director 150.00%
Mr Kailash Sharma* Company Secretary 29.03%
Mr Rohan Chinchkar** Company Secretary 23.08%

*Ceased to be Company Secretary w.e.f. 15th December 2020

**Appointed as a Company Secretary w.e.f. 11th February 2021

c) Percentage increase in the median remuneration of employees in the financial year2020-21- The Median remuneration of employees has been reduced by 9.01% as compare tomedian remuneration of the employees in the previous financial year

d) Number of permanent employees on the rolls of Company as on 31st March2021- 19

e) Average percentile increase already made in the salaries of employees other than themanagerial personnel in the last financial year and its comparison with the percentileincrease in the managerial remuneration and justification thereof and point out if thereare any exceptional circumstances for increase in the managerial remuneration:

Average percentile decrease in remuneration of employees other than managerialpersonnel in financial year 2020-21 is 10.83%.

Remuneration of Mr. Vidip Jatia Managing Director is increased by 150.00% in thefinancial year 2020-21.

Remuneration of Mrs. Namita Jatia Whole-time Director is increased by 150.00% in thefinancial year 2020-21.

Currently the Company is developing two projects one at Panvel and the other one atPune. The development work is in full swing and nearing completion. Mr. Vidip Jatia andMrs. Namita Jatia are devoting full time to the work and hence increase in theremuneration is justified considering amount of time and effort put in by them.

f) Affirmation that the remuneration is as per the remuneration policy of the Company:The Company affirms that the remuneration is as per the Nomination cum Remuneration Policyof the Company.

B. Details pursuant to the provisions of Rule 5 (2) of the Companies (Appointment andRemuneration of Managerial Personnel) Rules 2014

a) During the year the Company has not engaged any employee drawing remunerationexceeding the limit specified under Section 197(12) read with Rule 5(2) of the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014.

b) Top ten employees in terms of remuneration drawn as required under Rule 5(2) of TheCompanies (Appointment & Remuneration of Managerial Personnel) Rule 2014 for the yearended 31st March 2021

Sr. No Name of Employee Designation of Employee Nature of Employment Qualification and experience of employee Date of commencement of employment Age of employee Last employment held by such employee before joining the company Nature of relationship if any with the Directors / Managers of the Company Remuneration (Rs.)
1 Vidip Jatia Managing Director Permanent Business and Accounting Graduate from university of Exeter and 6 years 13-05-2017 28 Mrs. Namita Jatia Executive Director of the Company is the Sister in Law of Mr. Vidip Jatia 4050000.00
2 Namita Jatia Executive Director Permanent Bachelor of Business Management 01-06-2018 34 Mrs. Namita Jatia Executive Director of the Company is the Sister in Law of Mr. Vidip Jatia 4050000.00
3 Shrimant Dyamagol Project Manager Permanent Bachelor of Civil Engineering and 9 Years 01-10-2010 41 Karan Builders NA 2067640.00
4 Kailash Sharma Company Secretary Resigned in Dec-20 Company Secretary and 30 years 01-11-2011 56 Jatia Hotels & Resorts Pvt. Ltd. NA 1741774.00
5 Santosh Munde Liaisoning Officer Permanent Bachelor of Science and 10 Years 01-01-2012 40 Sunil Mantri Realty Limited NA 1515800.00
6 Jiten Shah Head Accounts & Taxations Permanent Chartered Accountant and Company Secretary And 11 years 02-07-2018 32 BSR & Co. LLP NA 1368000.00
7 Aanchal Madnani Marketing Manager Permanent Post Graduate Diploma in International Marketing and 5 Years 02-07-2018 29 Directi Internet Solutions Pvt. Ltd. NA 1122713.00
8 Santosh Melmani Plumbing and Fire Fighting Engineer Permanent Diploma in Mechanical Engineering and 7 years 01-02-2016 32 Marvel Realtors Pvt. Ltd. NA 951720.00
9 Lokesh Gupta Sales And Marketing Manager Permanent PGDM in Business Studies and 11 years 02-05-2016 31 Skywards Developer NA 815200.00
10 Bhavesh Karachiwala Marketing Executive Permanent BBA and 11 years 04-04-2016 31 Nesting Dreams Pvt. Ltd. NA 750200.00
For and on behalf of the Board
Sd/- Sd/-
Vidip Jatia Namita Prateek Jatia
Chairman & Managing Director Executive Director
DIN 06720329 DIN: 07660840
Place: Pune
Date: July 30 2021

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