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SVP Housing Ltd.

BSE: 539041 Sector: Infrastructure
NSE: N.A. ISIN Code: INE369Q01017
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NSE 05:30 | 01 Jan SVP Housing Ltd
OPEN 17.60
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VOLUME 10000
52-Week high 35.00
52-Week low 16.20
P/E
Mkt Cap.(Rs cr) 20
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 17.60
CLOSE 17.60
VOLUME 10000
52-Week high 35.00
52-Week low 16.20
P/E
Mkt Cap.(Rs cr) 20
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

SVP Housing Ltd. (SVPHOUSING) - Director Report

Company director report

Dear Members

Your Directors have pleasure in presenting the Annual Report on the business andoperations of the Company together with the Audited Financial Statements for the yearended 31st March 2018.

Financial Results

The summarized financial results of your Company are given in the table below:

Particulars F.Y 2017-18 F.Y 2016-17
1. Revenue From Operation - 175000.00
2. Other Income 32131 500945.00
3. Profit/loss before tax 32131 511961.00
4. Profit after tax 30205 303993.00

Dividend

Keeping in view the performance we are unable to recommend dividend for the year underreview.

Overview

The During the year 2017-18 there is no turnover of the company.. The Companycontinues to reducing cost of borrowings finding new markets etc. We extended ourgeographical reach to the end users.

Management's Discussion and Analysis Report

Management's Discussion and Analysis Report for the year under review as stipulatedunder Clause 52 of the Listing Agreement with the Stock Exchanges in India is presentedin a separate section forming part of the Annual Report.

Deposits

Your Company has not accepted any deposits within the meaning of Section 73 of theCompanies Act 2013 and the Companies (Acceptance of Deposits) Rules 2014. Accordinglythere are no unclaimed or unpaid deposits lying with the Company for the year underreview.

Details of significant and Material Orders passed by the Regulators Courts andTribunal

No significant and material order has been passed by the Regulators Courts andTribunals impacting the going concern status and Company's operations in future.

Change in the nature of business if any

There was no change in the nature of business of the company during the Financial yearended March 2018.

Changes in Share Capital if any

The equity paid up share capital of the company has been increased from 10429400 equityshares to 11179400 equity shares during the financial year 2017-18.

Material changes and commitments if any affecting the financial position of thecompany which have occurred between the end of the financial year of the company to whichthe financial statements relate and the date of the report.

There are no material changes and commitments affecting the financial position of theCompany occurred between the end of the financial year of the Company to which thefinancial statements relate and the date of the report other than those disclosed in thefinancial statements.

Directors Responsibility Statement

Pursuant to the Section 134 (1) (c) of the Companies Act 2013 the Directors to thebest of their knowledge hereby state and confirm that:

a) In the preparation of the annual accounts the applicable accounting standards havebeen followed along with proper explanations 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 end the of the financial year and ofthe profits of the Company for the 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 annual accounts have been prepared on a going concern basis.

e) The internal financial controls to be followed by the Company were laid down andsuch internal financial controls were adequate and were operating effectively; and

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.

Explanations or Comments by the Board on every Qualification Reservation or AdverseRemark

No adverse remark given by Auditor.

Listing

The Company has paid Annual listing fees for the financial year 2017-18 and 2018-19 tothe BSE Limited and custodian fees to NSDL and CDSL.

Corporate Governance

Your Company upholds the standards of governance and is compliant with the CorporateGovernance provisions as stipulated in Clause 52 of the Listing Agreement in both letterand spirit during the period under review. Your Company lays strong emphasis ontransparency disclosure and independent supervision to increase various stakeholders'value.

The Company has complied with the Corporate Governance as stipulated under Clause 52 ofthe SME Listing Agreement with Stock Exchange. A separate section on Corporate Governancealong with certificate from Statutory Auditors confirming compliance with the requirementsof Clause 52 of the SME Listing Agreement with the BSE Limited (BSE) are annexed as Annexure"F" and forming part of the Annual Report.

Particulars of Contracts and Arrangements with Related Parties

Pursuant to the provisions of Section 134 of the Companies Act 2013 read with Rule8(2) of the Companies (Accounts) Rules 2014 the particulars of all contracts /arrangements / transactions entered into by the Company with related parties during thefinancial year are in the ordinary course of business and on arm's length basis. Duringthe year the Company had not entered into contract / arrangement / transaction withrelated parties which could be considered material in accordance with the policy of theCompany on related party transactions and materiality of related party transactions. YourDirectors draw attention of the members to Note 23 to the Financial Statement which setsout related party disclosures. The particulars of contracts and arrangements entered intoby the company with related parties referred to in Section 188 in Form AOC-2 is attachedherewith as Annexure-B.

Details in respect of adequacy of Internal Financial Controls with reference to theFinancial Statements

The Company has a robust and comprehensive Internal Financial Control Systemcommensurate with the size scale and complexity of its operations. The objective of theseprocedures is to ensure efficient use and protection of the Company's resources accuracyin financial reporting and procedures. The system encompasses the major processes toensure reliability of financial reporting compliance with the policies procedures lawsand regulations safeguarding assets and economical and efficient use of resources. Thepolicies and procedures adopted by the company ensure the orderly and efficient conduct ofits business and adherence to the company's policies prevention and detection of fraudsand errors accuracy and completeness of the records and timely preparation of reliablefinancial information. The scope and authority of the Internal Audit function is definedin the Internal Audit Manual. To maintain its objectivity and independence the InternalAudit function reports to the Chairman of the Audit Committee of the Board and to theManaging Director.

The Internal Audit Department monitors and evaluates the efficiency and adequacy ofinternal control system in the Company its compliance with operating systems accountingprocedures and policies at all locations of the Company. Based on the report of internalaudit function process owners undertake corrective action in their respective areas andthereby strengthen the controls. Significant audit observations and recommendations alongwith corrective actions thereon are presented to the Audit Committee of the Board.

Directors and Key Managerial Personnel

In accordance with the provisions of Section 152 of the Companies Act 2013 and theArticles of Association of the Company Mr. Vijay Kumar and Mrs. Chameli Devi is liable toretire by rotation at the ensuing Annual General Meeting and being eligible offerthemselves for re-appointment. The details of directors being recommended for appointment/ re-appointment as required in clause 52 of the SME Listing Agreement are contained inthe Notice convening the ensuing Annual General Meeting of the Company. Appropriateresolution(s) seeking your approval to the appointment / re-appointment of Directors arealso included in the Notice.

Declaration by Independent Director(s)

All the Independent Directors have submitted their disclosures to the Board that theyfulfill all the requirements as stipulated in Section 149 (6) of the Companies Act 2013so as to qualify themselves to be appointed as Independent Directors under the provisionsof the Companies Act 2013 and the relevant rules.

Board Evaluation

Pursuant to the provisions of the Companies Act 2013 and Clause 52 of ListingAgreement the Board has carried out an annual evaluation of its own performance theDirectors individually as well as the evaluation of the working of various Committees. TheIndependent Directors also carried out the evaluation of the Chairman and theNon-Independent Directors the details of which covered in the Corporate GovernanceReport.

Criteria for Evaluation of Directors

For the purpose of proper evaluation the Directors of the Company have been divided in3 (three) categories i.e. Independent Non-Independent and Non-Executive and Executive.

The criteria for evaluation includes factors such as engagement strategic planning andvision team spirit and consensus building effective leadership domain knowledgemanagement qualities team work abilities result/achievements understanding andawareness motivation/ commitment/ diligence integrity/ ethics/ value and openness/receptivity.

Number of Meetings of the Board of Directors

During the Financial year 2017-18 the Board of Directors of the Company met 8 times on

S.No. Date of Board meetings Day of Board Meeting
1 25.04.2017 Tuesday
2 30.05.2017 Tuesday
3 17.06.2017 Saturday
4 17.08.2017 Thursday
5 24.08.2017 Thursday
6 07.10.2017 Saturday
7 14.11.2017 Tuesday
8 22.02.2018 Thursday

During the Financial year 2017-18 meeting of the Audit Committee held on 30thMay 2017 17th June 2017 24th August 2017 14thNovember 2017 and 22nd February 2018. The details of which are given in theCorporate Governance Report. The intervening gap between the Meetings was within theperiod prescribed under Companies Act 2013.

Audit Committee

The Audit Committee comprises three Directors of which two are Non-Executive andIndependent Directors. The Chairman of the Committee is a Non-Executive IndependentDirector. Composition of the Audit Committee as on 31st March 2018 is as under:

Name of the Director Category
Mr. Manish Kumar Singhal Non-Executive and Independent (Chairman)
Mr. Ram Krishan Singal Non-Executive and Independent
Mr. Vijay Kumar Managing Director

Nomination and Remuneration Committee

In adherence of Section 178(1) of the Companies Act 2013 Composition of the Committeeas on 31st March 2018 is as under:

Name of the Director Category
Mr. Ram krishan Singal Non-Executive and Independent
Mr. Manoj Gupta Non-Executive Director
Mr. Manish Kumar Singhal Non-Executive and Independent(Chairman)

Stakeholder Relationship Committee

In adherence of Section 178(1) of the Companies Act 2013 Composition of the Committeeas on 31st March 2018 is as under:

Name of the Director Category
Mr. Ram krishan Singal Non-Executive and Independent (Chairman)
Mr. Manoj Gupta Non-Executive Director
Mr. Manish Kumar Singhal Non-Executive and Independent

Details of establishment of Vigil Mechanism for Directors and Employees

In Compliance with the provision of Section 177(9) of the Companies Act 2013 andClause 52 of the listing Agreement the Company has framed a vigil mechanism/WhistleBlower Policy to deal with the ethical behavior actual or suspected fraud or violation ofthe Company's code of conduct or ethics policy if any.

In staying true to our values of Strength Performance and Passion and in line with ourvision of being one of the most respected companies in India the Company is committed tothe high standards of Corporate Governance and stakeholder responsibility. The Policyensures that strict confidentiality is maintained whilst dealing with concerns and alsothat no discrimination will be meted out to any person for a genuinely raised concern

Auditors and Auditor's Report

A. Statutory Auditors: M/s Subhash C Jain and Co Chartered Accountants Statutoryauditors of the company have given their resignation on 3rd April 2018 due totheir preoccupied assignments. The Board has appointed M/s Anil Ram & AssociatesChartered Accountants vide resolution passed at the Extra-Ordinary General Meeting of themembers of the company held on 11th May 2018. The certificate to the effectthat if appointed would be within the prescribed limit under Section 141 of the CompaniesAct 2013 has been obtained from them. The observations of Statutory Auditors in theirreports on financials are self-explanatory and therefore do not call for any furthercomments under Section 134 of the Companies Act 2013.

B. Secretarial Auditors: Pursuant to the provisions of Section 204 of the CompaniesAct 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules2014 the Board had appointed M/s Liza Sahni and Co Company Secretaries to conductSecretarial Audit for Financial Year 2017-18. The Secretarial Audit Report for theFinancial Year ended on 31st March 2018 is annexed herewith marked as Annexure"C" to this Report. The Secretarial Audit Report is self-explanatory andtherefore do not call for any further comments.

Particulars of Loans Guarantees or Investments under Section 186 of the Companies Act2013

The company has not given Loans/guarantee or provides security in connection with aloan to any other body corporate under Section 186 of the Companies Act 2013 during theFinancial Year 2017-18.

Extract of the Annual Return

The details forming part of the extract of the Annual Return in Form no. MGT-9 asrequired under Section 92 of the Companies Act 2013 is annexed hereto as Annexure-"A"and forms part of the Director's Report.

Energy Conservation Technology Absorption and Foreign Exchange Earnings and Outgo

Information pertaining to conservation of energy technology absorption foreignexchange earnings and outgo as required under Section 134 (3) (m) of Companies Act 2013read with the Rule 8 (3) of the Companies (Accounts) Rules 2014 is annexed hereto as Annexure"E" forming part of this Report.

Particulars of Employees and related disclosures

Details pursuant to Section 197(12) of the Companies Act 2013 read with Rules 5(2) and5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014form part of this Annual Report and annexed herewith as Annexure "D".

Disclosure as per Sexual Harassment of women at workplace (Prevention Prohibition andRedressal) 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 Sexual Harassment of Women at Workplace (Prevention Prohibitionand Redressal) Act 2013 and the rules framed there under. No complaint has been receivedfor sexual harassment of women at work place by the Company during the financial year2017-18.

Transfer to Investor Education and Protection Fund

Pursuant to the provisions of Section 125 (2) (c) of the Companies Act 2013 theCompany is not required to transfer any amount during the financial year 2017-18 to theInvestor Education and Protection Fund.

Acknowledgements

The Board places on record its appreciation for the continued co-operation and supportextended to the Company by customers vendors bankers rating agencies stock exchangesdepositories auditors legal advisors consultants business associates state governmentlocal bodies and all the employees with whose help co operation and hard work the Companyis able to achieve the results.

The Board deeply acknowledges the trust and confidence placed by the customers of theCompany and all its shareholders.

By the Order of the Board
SVP Housing Limited
Place: New Delhi Vijay Kumar
Date: 30.08.2018 Managing Director
DIN:00369802

http://www.svphousing.com/MGT-9.pdf

Form No. AOC-2

(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) ofthe Companies (Accounts) Rules 2014) Form for disclosure of particulars ofcontracts/arrangements entered into by the company with related parties referred to insub-section (1) of section 188 of the Companies Act 2013 including certain arm's lengthtransactions under third proviso thereto.

1. Details of contracts or arrangements or transactions not at arm's length basis-

None: During the Reporting Period all the transactions not at arm's length basis.

a. Name(s) of the related party and nature of relationship Not Applicable
b. Nature of contracts/arrangements/transactions Not Applicable
c. Duration of the contracts / arrangements/transactions Not Applicable
d. Salient terms of the contracts or arrangements or transactions
Not Applicable including the value if any
e. Justification for entering into such contracts or arrangements or transactions Not Applicable
f. Date(s) of approval by the Board Not Applicable
g. Amount paid as advances if any Not Applicable
h. Date on which the special resolution was passed in general meeting as required under first proviso to section 188 Not Applicable

2. Details of material contracts or arrangement or transactions at arm's length basis

(*As defined under Clause 52 of the Listing Agreement "Material Related PartyTransaction" means a transaction with a related party if the transaction /transactions to be entered individually or taken together with previous transactionsduring a financial year exceeds 10% of the annual consolidated turnover of the Company asper the last audited financial statements of the Company.)

a. Name(s) of the related party and nature of relationship Not Applicable
b. Nature of contracts/arrangements/transactions Not Applicable
c. Duration of the contracts / arrangements/transactions Not Applicable
d. Salient terms of the contracts or arrangements or transactions including the value if any Not Applicable
Date(s) of approval by the Board if an Not Applicable
e. Amount paid as advances if any Not Applicable

 

For and on behalf of the Board
Place: New Delhi Vijay Kumar
Date: 30.08.2018 Managing Director