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Tinna Rubber & Infrastructure Ltd.

BSE: 530475 Sector: Others
NSE: N.A. ISIN Code: INE015C01016
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NSE 05:30 | 01 Jan Tinna Rubber & Infrastructure Ltd
OPEN 120.00
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VOLUME 25293
52-Week high 139.85
52-Week low 15.05
P/E 9.26
Mkt Cap.(Rs cr) 99
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 120.00
CLOSE 121.70
VOLUME 25293
52-Week high 139.85
52-Week low 15.05
P/E 9.26
Mkt Cap.(Rs cr) 99
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Tinna Rubber & Infrastructure Ltd. (TINNARUBBER) - Director Report

Company director report

To The Members of

Tinna Rubber and Infrastructure Limited

Your Directors take pleasure in presenting the 34thAnnual Report ofyour Company together with the Audited Financial Statements for the Financial Year endedMarch 312021.

1. FINANCIALRESULTS

(Rs. in Lacs)

Particulars

F.Y 2020-21

F.Y 2019-20

Revenue from Operations

13006.55

12302.69

Other Income

168.92

258.42

Total Income

13175.47

12561.11

Expenses

13017.60

13105.23

Profit before exceptional items and tax

157.87

-544.12

Less: prior Period items

-

-

Profit before tax (PBT)

157.87

-544.12

Less: Tax Expenses

46.29

-155.44

Loss after tax (PAT)

111.58

-388.68

Add: Balance brought forward

2571.70

2924.06

Add: Re-measurement gains/Losses on Defined benefit Plan(Net of Tax)

11.73

36.33

Less: Adjustment related to transitional provisions of depreciation
Surplus available for appropriation

2695.01

2571.70

Appropriations:
Less: Proposed dividend on equity Shares

-

-

Less: Tax on proposed dividend

-

-

Less: Transferred to general reserve

-

-

Balance carried to Balance Sheet

2695.01

2571.70

 

1. FINANCIAL REVIEW AND STATE OF COMPANY'SAFFAIRS

Main business of the Company is processing of end of life tyres (ELT)&manufacturing of Hi Tensile Ultrafine Reclaim Rubber Ultrafine Tyre Crumb CrumbRubber Modifier (CRM) Modified Bitumen Bitumen Emulsion Hi Carbon Steel Abrasives andother allied products.

(A) STANDALONERESULTS

During the Financial Year 2020-21 the revenue from operations for thestandalone entity stand to Rs.13006.55 as compared to Rs.12302.69 lacs in the previousFinancial Year. Profit before tax is Rs.157.87 lacs as compared to loss before tax is Rs544.12 in the previous Financial Year. During the year under review there has been profitbefore tax s compared to previous financial Year. Profit after tax was 111.58 lacs ascompared to Loss after tax Rs. 388.68 lacs in the previous Financial Year.

As per the Qualified opinion of the Statutory Auditors (Auditors)included in their "Report on the Standalone Financial Statements-"

a) The Company had incurred marketing promotion expenses and otherexpenses amounting to Rs. 80.43 lakhs during the financial year 2018-19 which has beenamortized over a period of three years as is more appropriately referred in note no.33(11) of the accompanying financial statement. The same is not in accordance withprovisions of Ind AS 38 "Intangible Assets" (Para 69). Consequently the netloss and total comprehensive income for the year ended 31st March 2019 was understated byRs. 53.62lakhs and other noncurrent assets and other current assets were overstated byRs.26.81 lakhs each. During the year had the correct accounting treatment been followed bythe Company profit for the year would have been higher by Rs. 26.81 Lakhs.

(B) CONSOLIDATEDRESULTS

The Audited Consolidated Financial Statements together with AuditorsReport form part to of the Annual Report. The Consolidated net loss after tax was Rs.13.81lakhs during the Financial Year 2020-21 as compared to loss after tax Rs. 484.42 lakhs inthe previous FinancialYear.

In accordance with the Indian Accounting Standards on ConsolidatedFinancial Statements and Accounting for Investment in Associates the auditedConsolidated Financial Statements are provided in the Annual Report.

In terms of Section 134(3)(l) of the Companies Act 2013 except asdisclosed elsewhere in this report no material changes or commitments affecting thefinancial position of the Company have occurred between the end of the financial year andthe date of this Report.

(C) TRANSFERTORESERVES

The Company performed reasonably well however the Directors do notpropose to transfer any amount to the General Reserve.

(D) CHANGEINTHENATUREOFBUSINESS

There has been no change in the nature of business of the Companyduring the period under review.

2. DIVIDEND

Based on company performance during the year the Directors do notpropose payment of any dividend for the financial year 2020-21.

4. PROJECTSAND EXPANSION PLANS

The Company is an end to end solution Company in the business of End oflife (waste) tyres- sourcing processing and manufacturing of value added products derivedfrom waste tyres. Tinna's research & development team has developed various valueadded products from waste tyres during the year.

The Company has established nationwide foot print by setting up plants-in North- at Panipat (Haryana) and Kalaamb (Himachal Pradesh) in South at Gummdipoondi(Tamil Nadu) In East- Haldia (West Bengal) and in West at Wada (Maharashtra) for themanufacturing of Crumb Rubber powder from scrap tyres. The Company has also commencedproduction of Coated Rubber Crumb at Panipat Plant. This is a highly specialized productusing a proprietary chemical compound that can be used in making rubber compoundseconomically without compromising on the properties. The Company also introduced newtechnologies and two specialized grades of Emulsion such as Micro Surfacing Recyclinggrades Emulsion and Eco-Friendly cold mix emulsion for rural road.). Any new initiative todevelop new products and processes takes time to stabilize and additional costs areincurred in the business development. This has also impacted the Company'sprofitability during the FinancialYear 2020-21.

However we are confident that this investment will result into arobust and strong future for the Company.

5. SCHEME OFARRANGEMENT

Further no Capital Restructuring has taken place during the year2020-21.

6. SUBSIDIARY JOINT VENTURE (JV) AND ASSOCIATE COMPANIES

The Company has no subsidiaries as on March 31 2021but has oneassociate Company within the meaning of Section 2(6) of the Companies Act 2013("Act"). There is no JV Company of the Company. Further there has been nomaterial change in the nature of the business of the Subsidiaries (erstwhile)&Associate Company. Pursuant to provisions of Section 129(3) of the Act a statementcontaining salient features of the financial statements of the Company's Subsidiaries(erstwhile)& Associate Company in Form AOC-1 is provided at Annexure "A" tothis report. Pursuant to the provisions of Section 136 of the Act the financialstatements of the Company consolidated financial statements along with relevant documentsand separate audited accounts in respect of Associate are available on the website of theCompany. Policy for determining material subsidiaries of the Company is available on thewebsite of the Company www.tinna.in.

The details of associate company is given below:

(i) ASSOCIATE

TP BUILDTECH PVT. LTD. (TPBPL)

TPBPLis an associate Company of Tinna Rubber And Infrastructure Ltd.The Company is engaged in the business of manufacturing construction chemicals. With thehelp of Research & Development activities during the Financial Year 20-21 TPBPL hassucceeded in getting orders from various renowned brands and some of the best constructionCompanies in the country. Revenue from operations (gross) for the Financial Year 2020-21is Rs. 2799.01lacs as compared to Rs. 4015.18lacs in the previous year Whereas Loss aftertax is 286.08 lakhs compared to 196.39 lakhs in the previous year.

7. RISKMANAGEMENT

The Company's risk management framework identifies and evaluatesbusiness risks and opportunities. The Company recognizes that these risks need to bemanaged and mitigated to protect its shareholders and other stakeholders to achieve itsbusiness objectives and enable sustainable growth. The risk framework is aimed ateffectively mitigating the Company's various business and operational risks throughstrategic actions. Risk management is embedded in our critical business activitiesfunctions and processes. The risks are reviewed for the change in the nature and extent ofthe major risks identified since the last assessment. It also provides control measuresfor risks and future action plans. Tyres are highly inflammable and your Company'sproperty and stock are subject to risk of loss due to fire and flood and these aremitigated within surance and fire detecting and firefighting equipments and propersecurity personnel. Regular training program for employees are being organized by theCompany relating to fire control.

8. INTERNAL CONTROLS INTERNAL FINANCIAL CONTROLS AND AUDIT OVERVIEW

A system of internal control commensurate with the size and nature ofits business forms an integral part of the Company's corporate governance policies.

INTERNAL CONTROL

The Company has a proper and adequate system of internal controlcommensurate with the size and nature of its business. Some of the significant features ofinternal control systems includes:

• Ensuring compliance with laws regulations standards andinternal procedures and systems.

• De-risking the Company's assets/resources and protectingthem from any loss.

• Ensuring the accounting system's integrity proper andauthorized recording and reporting of all transactions.

• Preparing and monitoring of annual budgets for all operating andservice functions.

• Ensuring the reliability of all financial and operationalinformation.

• Forming an Audit committee of the Board of Directors. The AuditCommittee regularly reviews audit plans significant audit findings controls andcompliance with accounting standards and so on.

• Continuous up-gradation of IT Systems.

The internal control systems and procedures are designed to assist inthe identification and management of risks the procedure-led verification of allcompliance as well as an enhanced control consciousness

9. FIXED DEPOSITS

The Company has not accepted any fixed deposits fTom the public.Therefore it is not required to furnish information in respect of outstanding depositsunder Non-banking Non-financial Companies (Reserve Bank) Directions 1966 and Companies(Accounts)Rules 2014.

10. SHARE CAPITAL

There was no change in the Company's share capital during the yearunder review. The Company's paid up equity share capital remained at Rs.85647500/-comprising of 8564750 equity shares ofRs.10/- each.

11. CORPORATE GOVERNANCE

Your Company has complied with the requirements of SEBI (ListingObligation and Disclosure Requirements) Regulations 2015 with regard to CorporateGovernance. A report on the Corporate Governance practices and Certificate from CompanySecretary in practice on compliance of mandatory requirements thereof is also given inthis report.

12. MANAGEMENT DISCUSSION & ANALYSIS

A detailed report on the Management Discussion & Analysis isprovided in Annexure "B" to the Directors' Report

13. SECRETARIAL STANDARDS

The Directors state that applicable Secretarial Standards i.e. SS-1and SS-2 relating to ‘Meetings of the Board of Directors' and ‘GeneralMeetings' respectively have been duly followed by the Company.

14. DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the provisions of Section 152 of the Companies Act2013 MrsPromila KumarNon-

Executive Director retires by rotation at the forthcoming AnnualGeneral Meeting and being eligible offers herself for re-appointment.

The proposal regarding the re-appointment of the aforesaid Director isplaced for your approval.

Shri Subodh Kumar Sharma appointed as Whole Time Director w.e.f 4thNovember 2020 and Shri. Rajender Parshad indoria Re-appointed as an Independent Directorw.e.f 12th February 2021. Mr Nirmal Jyoti Chatterjee resigned from the companyas whole time director w.e.f. 14th September 2020

The disclosure pursuant to the provisions of

i) the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 and

(ii) Secretarial Standard on General Meetings ("SS-2")issued by the Institute of Company Secretaries of India and approved by the CentralGovernment is given in the Notice of Annual General Meeting/ Corporate Governance Report.

1. BOARDEVALUATION

The Board carried out an annual performance evaluation of its ownperformance the individual Directors as well as the working of the Committees of theBoard. The performance evaluation of the Independent Directors was carried out by theentire Board. The performance evaluation of the Chairman and the Non-Independent Directorswas carried out by Independent Directors.

2. AUDITORSANDAUDITOR'SREPORT

A. STATUTORYAUDITORS

At the Company's Twenty Ninth Annual General Meeting (AGM) held on 30thSeptember 2016 M/s. V. R. Bansal & Associates Chartered Accountants New Delhi(ICAIRegistration No. 016534N) were reappointed as the Company's Statutory Auditors from theconclusion of the Twenty Ninth AGM until the conclusion of the Thirty Fourth AGM of theCompany subject to ratification of their appointment at every annual general meeting bythe shareholders of the company on such remuneration as may be decided by the Board ofDirectors of the Company. As tenure of M/s. V. R. Bansal &AssociatesCharteredAccountants New Delhi (ICAI Registration No. 016534N) will be completed at theensuing annual general meeting as prescribed under Companies Act 2013

The Board of Directors of the company wish toRe- appoint M/s. V. R.Bansal & Associates Chartered Accountants New Delhi (ICAI Registration No.016534N)as a Statutory Auditors of the company for the period of one year & from theconclusion of 34th Annual general Meeting till the conclusion of 35th Annual GeneralMeeting.

It is further pointed out that till the conclusion of 34th AGM thetotal tenure of M/s. V. R. Bansal & Associates Chartered Accountants New Delhi (ICAIRegistration No. 016534N)as a Statutory Auditors of the company is 9 years therefore yourdirectors propose to re-appoint M/s. V. R. Bansal & Associates Chartered AccountantsNew Delhi as Statutory Auditors of the Company for a period of another one year(till theconclusion of 35th AGM)in terms of the provisions of section 139& other applicableprovisions of the Companies Act 2013 read with Audit and Auditor rules 2014.

M/s. V. R. Bansal & Associates CharteredAccountants New Delhihave also expressed their willingness to act as Auditors of the company if appointed andhave further confirmed that the said appointment would be in conformity with theprovisions of Section 138 to 141 of Companies Act 2013the Board recommends foryourapproval.

B. COSTAUDITORS

Pursuant to Section 148(2) of the Companies Act 2013 read with theCompanies (Cost Records and Audit)Amendment Rules 2014 your Company is required to getits cost accounting records audited by a CostAuditor. Accordingly the Board at itsmeeting held on 8th September 2020 has on the recommendation of the AuditCommittee appointed M/s Pant S. & Associates (Firm registration no. 101402) CostAccountants to conduct the Audit of the cost accounting records of the Company for theFinancial Year 2021-22 the same is placed for your approval.

The Company is maintaining of cost records as specified by the CentralGovernment under sub-section (1) of section 148 of the CompaniesAct 2013.

C. SECRETARIALAUDITOR

Pursuant to the provisions of Section 204 of the Companies Act 2013and the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 theCompany had appointed M/s. Ajay Baroota & Associates Company Secretaries to undertakethe Secretarial Audit of the Company. The Report of the Secretarial Audit carried out isannexed herewith as Annexure "C". The report does not contain any observation orqualification requiring explanation or comments from the Board under Section 134(3) ofthe CompaniesAct 2013 except.

- A few observations from the Auditors Report as pointed out byStatutory Auditors are mentioned as under:

- In view of the losses in the immediately preceding financial year(s)& considering other parameters the Company does not meet any of threshold limitsprescribed under the provisions of Section 135 of the Companies Act 2013 during the yearunder review. However the Company was having a carried forward amount of Rs. 17.75 lacsas unspent amount towards Corporate Social Responsibility for the earlier financialyear(s). Out of the said unspent amount the Company has spent Rs. 3.55 lacs during thefinancial year & still Rs. 14.20 lacs is unspent amount towards Corporate SocialResponsibility & required modalities yet to be completed for spending/transferringunspent amount under the provisions of the Act.

- Pursuant to Regulation(s) 30/33/47 Financial Results for the quarterended 31stMarch 2020 were considered/approved & submitted to the Stock Exchangesbeyond the prescribed time /due date.

- There have been revision(s) in corporate guarantee(s) given by theCompany for the limits availed by T.P. Buildtech Private Limited from bank(s) during theperiod under review for which e form CHG-1 is/areyet to be filed by the company.

- Independent Directors' data bank with concerned authorities isyet to be renewed/updated

- The following e forms were filed beyond the prescribed time &with additional fee

e-Form No.

Date of Event

Filed by

Filed on

Remarks

1. MR-1 under Section 203

04-11-2020

03-01-2021 (within 60 days)

04-01-2021

Filed with Additional fee

 

It is further reported that number of e forms like DIR- 12 MGT-14MGT-15 MGT-7 DIR-H DPT-3 MSME- Form 1 AOC-4 Xbrl CHG-1 etc. were filed under CompanyFresh Start Scheme-2020 & other relaxation schemes/circulars issued by the Ministry ofCorporate Affairs (MCA).

The Board of Directors of the Company took note of the same

3. COMPANY'S POLICY ON DIRECTORS' APPOINTMENT ANDREMUNERATION AND OTHERDETAILS

The policy on Directors' appointment and remuneration and othermatters provided in Section 178(3) of the Companies Act 2013 has been disclosed in theCorporate Governance Report which forms a part of this report and is also available onthe website of the Company www.tinna.in

4. RELATED PARTYTRANSACTIONS

Related Party Transactions that were entered into during the financialyear were generally on arm's length basis and in the ordinary course of businesssubject to certain exceptions. The policy on dealing with Related Party Transactions asapproved by the Board is uploaded on the Company's website http://www.tinna.in. ThePolicy intends to ensure that proper reporting approval and disclosure processes are inplace for all transactions between the Company and Related Parties. This Policyspecifically deals with the review and approval of Related Party Transactions keeping inmind the potential or actual conflicts of interest that may arise because of entering intothese transactions. Related Party Transactions are placed before the Audit Committee forreview and approval. Prior omnibus approval is obtained for Related Party Transactions fortransactions which are of repetitive nature and / or entered in the ordinary course ofbusiness and are atArm's Length.

The disclosure of related party transactions required under Section 134read with Section 188 of the Companies Act 2013 is given in Form AOC 2. Accordinglyrelated party transactions which were entered into during the year by your Company isgiven inAnnexure "D" to this report.

5. ENVIRONMENTALINITIATIVES

Tinna has always been a frontrunner in continuously improving itsoperational performance in all areas including quality safety and environment protection.These initiatives have been taken across all production facilities of the Company. TheCompany has undertaken various measures to address environmental issues at its plantlocations.

6. DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirements under Section 134 subsection 3(c) andsub-section 5 of the Companies Act2 013 your Directors hereby state and confirm that:

1. In the preparation of the annual accounts the applicable accountingstandards have been followed and there was no material departure.

2. Such accounting policies have been selected & appliedconsistently and judgements and estimates have been made that are reasonable and prudentto give a true and fair view of the Company's state of affairs as at March 312021and of the Company's profit or loss for the year ended on that date.

3. Proper and sufficient care has been taken 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.

4. The annual financial statements have been prepared on a goingconcern basis.

5. That internal financial controls were laid down to be followed andthat such internal financial controls were adequate and were operating effectively.

6. Proper systems were devised to ensure compliance with the provisionsof all applicable laws and that such systems were adequate and operating.

7. MATERIAL CHANGESAND COMMITMENTS

The Company had registered itself under the MSME Act as a mediumenterprise. This will bring benefits like more flexibility with Banks with likely tobenefit from increased supplies for Crumb/Reclaim Rubber apart from Banks GOI guaranteesupport and Preference in Government Supplies & Easier Collections from Customers. TheCompany had also focused on branding of its value added products and in order to promotethese objectives had participated in various exhibition(s) and global event(s) that willfurther help the company to promote and registered its presence in overseas Market.

8. PARTICULARS OF EMPLOYEES

In terms of the provisions of Section 197(12) of the Companies Act2013 read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014 a statement showing the details of the employeesdrawing remuneration in excess of the limits set out in the said rules are provided in theAnnexure "E" forming part of the Annual Report. Disclosures pertaining to theremuneration and the other details as required under

Section 197(12) of the Companies Act2013 read with rule 5(1) of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 are alsoprovided in the Annexure "E" forming part of the Annual Report.

9. DISCLOSURES NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS

During the year 11 Board Meetings were convened and held the detailsof which are given in the corporate governance report. The intervening gap between themeetings was within the period prescribed under the Companies Act 2013.

AUDIT COMMITTEE

The Audit Committee comprises of Three NonExecutive Directors All areIndependent Directors. Mr. Vivek Kohli is the Chairman of the Audit Committee. The memberspossess adequate knowledge of Accounts Audit Finance etc. The Composition of the AuditCommittee meets the requirements as per Section 177 of the CompaniesAct 2013 andRegulation 18 of the Securities and Exchange Board of India (Listing Obligation andDisclosure Requirements) Regulations 2015. There are no recommendations of the AuditCommittee which have not been accepted by the Board.

The details of other committees has been given in Corporate GovernanceReport.

EXTRACT OFANNUAL RETURN

In accordance with the provisions of Section 134(3)(a) of the CompaniesAct 2013 the extract of the annual return in Form No. MGT - 9 is attached as Annexure"F" hereto and forms a part of this report. Further Annual Return will also beavailable on the website www.tinna.in.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has formulated and published a Whistle Blower Policy toprovide Vigil Mechanism for employees including Directors of the Company to report genuineconcern and the same is available on the website of the Company www.tinna.in.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS UNDER SECTION 186

Details of Loans guarantees and investments covered under theprovisions of Section 186 of the Companies

Act 2013 are given in the notes to the Financial Statements.

PARTICULARS REGARDING CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION ANDFOREIGN EXCHANGE EARNINGS AND OUTGO

Information in accordance with the provisions of Section 134(3)(m) ofthe Companies Act 2013 read with Rule 8 of the Companies (Accounts) Rules 2014 regardingconservation of energy technology absorption and foreign exchange earnings and outgo isgiven in the statement annexed (Annexure "G") hereto andforms apartofthisreport.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

The Corporate Social Responsibility Committee of the Board hasformulated and recommended a CSR Policy to the Board indicating the activities to beundertaken by the Company. The same has been approved by the Board.

The CSR Policy can be accessed on the website of the Company atwww.tinna.in

As per the provisions of section 135 of the Companies Act 2013 thecompany has to incur at least2% of the average net profits of the preceding threefinancial years towards Corporate Social Responsibility (CSR) during the year company hadspent 3.55 lakhs as CSR expenditure.

In view of the losses in the immediately preceding financial year(s)& considering other parameters the Company does not meet any of threshold limitsprescribed under the provisions of Section 135 of the Companies Act 2013 during the yearunder review. However the Company was having a carried forward amount of Rs. 17.75 lacsas unspent amount towards Corporate Social Responsibility for the earlier financialyear(s). Out of the said unspent amount the Company has spent Rs. 3.55 lacs during thefinancial year & still Rs. 14.20 lacs is unspent amount towards Corporate SocialResponsibility & the Company is working out modalities for spending/transferringunspent amount under the provisions of theAct

The Annual Report on CSR activities is enclosed as Annexure H.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORK PLACE(PREVENTION PROHIBITION AND REDRESSAL)ACT2013

The Company has in place an Anti-Sexual Harassment Policy in line withthe requirements of the Sexual Harassment of Women at Workplace (Prevention Prohibitionand Redressal) Act 2013. An Internal Complaints Committee (ICC) has been set up toredress complaints received regarding sexual harassment. All employees (permanentcontractual temporary trainees) are covered under this policy. No complaints pertainingto sexual harassment were received during FinancialYear 2020-21.

DECLARATION GIVEN BY INDEPENDENT DIRECTORS UNDER SUB-SECTION (6) OFSECTION 149 OF THE COMPANIESACT2013

The Independent Directors have given declaration that they meet thecriteria of independence as specified in sub-section (6) of Section 149of The CompaniesAct2013.

FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS

The Company proactively keeps its Directors informed of the activitiesof the Company its management and operations and provides an overall industry perspectiveas well as issues being faced by the industry. The policy on familiarization programmes isavailable on the Company's website www.tinna.in.

POLICY FOR DETERMINING MATERIAL SUBSIDIARIES AND POLICY ON DEALING WITHRELATED PARTYTRANSACTIONS

Policy for determining material subsidiaries of the Company and Policyon dealing with related party transactions are available on the website of the Companywww.tinna.in.

OTHER DISCLOSURES/ REPORTING

Your Directors state that no disclosure or reporting is required inrespect of the following items as there were no transactions on these items during theyear under review:

1. Details relating to deposits covered under Chapter V of theAct.

2. Issue of equity shares with differential rights as to dividendvoting or otherwise.

3. Issue of shares (including sweat equity shares and ESOPs) toemployees of the Company under any scheme.

4. Neither the Managing Director nor the Whole time Whole time Directorof the Company receive any remuneration or commission from any of its subsidiaries.

5. No significant or material orders were passed by the Regulators orCourts or Tribunals which impact the going concern status and Company's operations infuture except stated elsewhere in the report.

6. No frauds have been detected/reported by any of the Auditors of theCompany.

10. HUMAN RESOURCES AND INDUSTRIAL RELATIONS

The Company firmly believes that Human Resource is the key driver forthe success of any organization. The Company's human resources policies are carefullystructured to meet the aspirations of the employees as well as the organization. Thesepolicies are implanted through training and other developmental programs. These policiesencourage continuous learnings and innovations. Your Company has a dedicated team of 642employees as on 31stMarch 2021 as compared to 696 employees as on 31stMarch 2020. The Company continues to have cordial industrial relations.

11. APPRECIATION

Your Directors take this opportunity to express their appreciation forthe cooperation and assistance received from the concerned departments of Central andState Governments financial institutions banks and shareholders during the year underreview. The Directors also wish to place on record their appreciation of the devoted anddedicated services renderedby all employees of the Company

For and on behalf of the Board of Directors
Tinna Rubber and Infrastructure Limited
Mr .Promila Kumar

Mr. Bhupinder Kumar Sekhri

Director

Managing Director

DIN: 08321513

DIN: 00087088

Regd. Office Address:
Tinna House No. 6
Sultanpur Mandi Road
Mehrauli New Delhi-110030
Place : New Delhi
Date: 19thAugust2021

 

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