You are here » Home » Companies » Company Overview » Vani Commercials Ltd

Vani Commercials Ltd.

BSE: 538918 Sector: Financials
NSE: N.A. ISIN Code: INE661Q01017
BSE 00:00 | 25 Jan 12.60 -0.61
(-4.62%)
OPEN

12.95

HIGH

13.87

LOW

12.60

NSE 05:30 | 01 Jan Vani Commercials Ltd
OPEN 12.95
PREVIOUS CLOSE 13.21
VOLUME 859
52-Week high 19.47
52-Week low 1.65
P/E 114.55
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 12.95
CLOSE 13.21
VOLUME 859
52-Week high 19.47
52-Week low 1.65
P/E 114.55
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Vani Commercials Ltd. (VANICOMMERCIALS) - Director Report

Company director report

The Members of

Vani Commercials Limited

Your Directors have pleasure in presenting the 34th Director's Report ofyour Company together with the Audited Financial Statement along with Auditors' Report forthe Financial Year ended 31st March 2021.

1. FINANCIAL HIGHLIGHTS AND STATE OF COMPANY'S AFFAIRS

(a) Financial Highlights

(Amount in Rs.)

Particulars Current year Previous Year
Total Income 6679909.00 5600288.00
Total Expenses 6272673.00 5352460.00
Profit/ (Loss) Before Tax 407236.00 247828.00
Tax Expenses
Current Tax 105882.00 63866.00
Deferred Tax 630.00 1061.00
Provision for Standard Assets 1018.00 148058.00
Profit/(Loss) after Tax 299706.00 34843.00
Transfer to Statutory Reserves 74926.00 8711.00
Net Profit Transferred to General Reserves 0 0
Earnings per share (Rs.)
Basic 0.07 0.01
Diluted 0.07 0.01

During the year your Company recorded Total Income of ^ 6679909.00 (previous yearRs. 5600288.00. The Company recorded a Net Profit of f 299706.00 during theFinancial Year ended 31st March 2021 as against net profit of ^ 34848.00 in the previousyear. Further as the Company is NBFC it made provision for Standard Assets' in Terms ofSection 134 (3) (j) Of The Companies Act 2013

(b) Capital Structure

The Authorised Share Capital as at March 31 2021 stood at ^ 50500000/- (Rupees FiveCrore Five Lakh only) divided into 5050000 (Fifty Lakh Fifty thousand) equity shares of^ 10(Ten) each and the paid up Equity Share Capital as at March 31 2021 stood at ^41198000/- (Rupees Four Crore Eleven Lakh Ninety Eight Thousand only) divided into4119800 (Forty-one Lakh Nineteen thousand Eight hundred only) equity shares of ^ 10(Ten)each. During the year under review there was no changes reported.

(b) Transfer to Reserves in Terms of Section 134 (3) (J) of The Companies Act 2013

For the Financial Year ended 31st March 2021 the Company has not proposed to carryany amount to the General Reserve Account.

(c) Transfer To Statutory Reserves

For the financial year ended 31st March 2021 the Company is proposed to carry anamount of ^ 74926.00 to Statutory Reserve Account as required under the provisions ofSection 45-IC of RBI Act 1934.

(d) Dividend

Board does not recommend any dividend due to meager profit in the Financial Year2020-21.

(e) Loans

The Company has taken unsecured loans from its director(s) the details for the same areprovided in the Financial Statements and Notes thereon.

(f) Material Changes and Commitments

The outbreak of the deadly COVID-19 virus in March 2020 and the ensuing lockdownimposed across the country affected business operations. The health of the employees andworkers became a priority. Stoppage of operations in early part of 2020-21 for anuncertain period resulted in a large financial burden on one hand and workforce idling oremployees working from home on the other hand. COVID-19 is an unprecedented challenge. Thelockdown gave India time to make a concerted effort to flatten the outbreak curve. Towardslatter part of last year consequent to significant opening of the economic activityacross the nation demand picked up compared to first half of FY2020-21.

India is currently experiencing a massive second wave of COVID- 19 infections. Howeverwe expect no major changes in the economic activity as the nation is preparing to face thePandemic with vaccines and preparedness. The World has been suffering from COVID 19 formore than a year now. COVID 19 has materially affected the business globally includingthe Company also. The same is still continuing and it would not be appropriate to predictits impact on business of the Company at this stage.

2. PUBLIC DEPOSITS

During the year under report your Company did not accept any deposits from the publicin terms of the provisions of Chapter V of the Companies Act 2013 and under provision ofSection 45-IA of the RBI Act 1934.

3. DIRECTORS AND KEY MANAGERIAL PERSONNEL

(A) CHANGES IN BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

CHANGES IN BOARD OF DIRECTORS

During the Financial Year ended 31st March 2021 the following changes weremade in Board of Directors of Company:

> Ms. Neha Ashish Karia (DIN: 07894660) resigned from the post of Managing Director& CFO of the Company on

10th June 2020 however she continued to act as the Director of the Company.

> Mr. Jitender Kumar Juneja (DIN: 06639752) Senior Employee (General ManagerAdministration & Collection since September 2017) of the Company was appointed asManaging Director & CFO of the Company w.e.f. 10th June 2020.

> Mr. Mukesh Sukhija (DIN: 01038078) being one of the Promoters was appointed asNon Executive Non Independent Director of the Company and Mr. Naresh Kumar Mansharamani(DIN: 07160387) was appointed as Additional Director- Independent on 25th July2020.

> Mr. Pravinbhai Parshotambhai (DIN: 06998422) and Mr. Viralbhai Vijaybhai Dodiya(DIN: 06998426) resigned from the post of directorship w.e.f. 21st October2020.

> Mr. Sunkulp Sagar (DIN: 01555972) was resigned from the post of Director-Independent on 05th February 2021.

> Mr. Manoj Kumar Pahwa was appointment as an Independent Additional Director w.e.f05th February 2021.

The following appointments were made in 33rd Annual General Meeting:

(i) Mr. Jitender Kumar Juneja as Director of the Company.

(ii) Mr. Jitender Kumar Juneja as the Managing Director for a term of five years i.e.upto 09/06/ 2025 on the terms & conditions as detailed in the explanatory statement.

(iii) Mr. Mukesh Sukhija as Director of the Company

(iv) Mr. Naresh Kumar Mansharamani as Director- Independent for a term of five yearsi.e. upto 24/ 07/2025.

Therefore as on the date of this report the Board consists of the followingDirectors:

S. No. Name DIN Designation
1. Mr. Jitender Kumar Juneja 06639752 Managing Director & CFO
2. Mr. Mukesh Sukhija 01038078 Non Independent Non Executive Director
3 Mr. Pooja Bhatia 00188770 Non Independent Non Executive Director
4 Mr. Neha Ashish Karia 07894660 Non Independent Non Executive Director
5 Mr. Naresh Kumar Mansharamani 07160387 Independent Non Executive Director
6 Mr. Manoj Kumar Pahwa 00398839 Independent Non Executive Director

CHANGES IN KEY MANAGERIAL PERSONNEL

Ms. Rashika Chatwal has placed her resignation from the post of Company Secretary andCompliance Officer w.e.f. 26th June 2020 consequently. Ms. Manisha Sharma wasappointed as Company Secretary and Compliance Officer w.e.f. 11th December2020.

(B) RETIREMENT BY ROTATION

In accordance with the provisions of Section 152(6) of the Act and the Articles ofAssociation of the Company Mr. Mukesh Sukhija (DIN: 01038078) will retire by rotation atthe ensuing Annual General Meeting ('AGM') of the Company and being eligible offershimself for re-appointment. Your Board has recommended his reappointment.

(C) DECLARATION OF INDEPENDENCE BY THE INDEPENDENT DIRECTORS AND STATEMENT ONCOMPLIANCE OF CODE OF CONDUCT

A declaration from Mr. Naresh Kumar Mansharamani has received confirming that he meetwith the criteria of Independence as prescribed under Section 149(6) of the Act read withRule 5 of the Companies (Appointment and Qualification of Directors) Rules 2014 andRegulation 16( 1 )(b) of SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 ("SEBI Listing Regulations"). His names is included in theDatabank of

Independent Directors as prescribed under Rule 6(3) of the Companies (Appointment andQualification of Directors) Rules 2014 and he has been exempted from appearing in OnlineProficiency Test.

Whereas Mr. Manoj Kumar Pahwa who was appointed as Independent Director on 05thFebruary 2021 confirmed that he meets with the criteria of Independence as prescribedunder Section 149(6) of the Act read with Rule 5 of the Companies (Appointment andQualification of Directors) Rules 2014 and Regulation 16(1 )(b) of SEBI (ListingObligations and Disclosure Requirements) Regulations 2015 ("SEBI ListingRegulations") further his name is not included in the Databank of IndependentDirectors as prescribed under Rule 6(3) of the Companies (Appointment and Qualification ofDirectors)Rules 2014

The Independent Directors have complied with the Code for Independent Directorsprescribed in Schedule IV to the Act.

Framework for Familiarization Programme for the Independent Directors and the detailsof Familiarization Programme imparted to Independent Directors are made available on thewebsite of the Company

http://www.vanicommercials.com/wp-content/uploads/2019/06/FRAMEWOK-FOR-FAMILIARIZATION-PROGRAM-FOR-INDEPENDENT-DIRECTORS.pdf

The Company has formulated the Code of Conduct for Directors and Senior ManagementPersonnel Further the Board of Directors and Senior Management Personnel have fullycomplied with the provisions of the Code of Conduct of Board of Directors and SeniorManagement of the Company during the Financial Year ending 31st March 2021.

(D) KEY MANAGERIAL PERSONNEL OF THE COMPANY

Pursuant to the provisions of Section 203 of the Act the Key Managerial Personnel ofthe Company as on the date of this report are Mr. Jitender Kumar Juneja Managing Director& CFO and Ms. Manisha Sharma Company Secretary.

(E) ATTRIBUTES QUALIFICATIONS AND APPOINTMENT OF DIRECTORS

The Nomination and Remuneration Committee has adopted the attributes and qualificationsas provided in Section 149(6) of the Act and Rule 5 of the Companies (Appointment andQualification of Directors) Rules 2014 in respect of Independent Directors. TheCommittee has also adopted the same attributes and qualifications to the extentapplicable in respect of Non-Independent Directors.

All the Non-Executive Directors of the Company fulfil the fit and proper criteria forappointment as Directors. Further all Directors of the Company other than the ManagingDirector and Independent Directors are liable to retire by rotation. One-third of theDirectors who are liable to retire by rotation retire every year and are eligible forre-election.

(F) REMUNERATION POLICY

The Board on the recommendation of the Nomination and Remuneration Committee approvedthe Remuneration Policy for the Directors Key Managerial Personnel and other employees ofthe Company a copy of which is enclosed as Annexure: I to this Report.

(G) BOARD EVALUATION

The Board carried out formal annual evaluation of its own performance and that of theindividual Directors as also functioning of the Board Committees pursuant to theprovisions of Companies Act 2013 SEBI ((Listing Obligations and DisclosuresRequirements) Regulations 2015) and the Guidance Note on Board Evaluation issued by theSecurities and Exchange Board of India on January 5 2017 as required in terms of Section134 (3) (p) of the Act. The performance evaluation of the Board its committees andindividual Directors was based on criteria approved by the Nomination and RemunerationCommittee. The Directors expressed their satisfaction with the overall evaluation process.

In the separate meeting of Independent directors performance of non-independentdirectors the board as a whole was evaluatedtaking into account the views of executivedirectors and nonexecutive directors.

4. NUMBER OF BOARD MEETINGS

During the year ended 31st March 2021 6 (Six) meetings of the Board were held on 10thJune 2020 25th July 2020 26th August 2020 11thNovember 2020 11th December 2020 and 05th February 2021.

5. BOARD COMMITTEES AND MEETINGS

Presently the Company has 3 (Three) Board Committees with the following members:

Audit Committee Mr. Manoj Kumar Pahwa Chairman
Mr. Naresh Kumar Mansharamani Member
Mr. Mukesh Sukhija Member
Nomination and Remuneration Committee Mr. Naresh Kumar Mansharamani Chairman
Mr. Manoj Kumar Pahwa Member
Mr. Mukesh Sukhija Member
Stakeholders Relationship Committee Mr. Mukesh Sukhija Chairman
Mr. Naresh Kumar Mansharamani Member
Mr. Manoj Kumar Pahwa Member

THE DETAILS OF THE AUDIT COMMITTEE MEETING HELD DURING THE YEAR ARE AS FOLLOWS:

During the year ended 31st March 20215 (Five) meetings of the Committee were held on10th June 2020 25th July 2020 26th August 2020 11thNovember 2020 and 05th February 2021.

THE DETAILS OF THE NOMINATION AND REMUNERATION COMMITTEE MEETING HELD DURING THE YEARARE AS FOLLOWS:

During the year ended 31st March 2021 5 (Five) meetings of the Nominationand Remuneration Committee were held which are as follows: 10th June 2020 25thJuly 2020 26th August 2020 11th December 2020 and 05thFebruary 2021.

THE DETAILS OF THE STAKEHOLDERS RELATIONSHIP COMMITTEE MEETING HELD DURING THE YEAR AREAS FOLLOWS:

During the year ended 31st March 2021 2 (Two) meetings of Stakeholder'sRelationship Committee were held which are as follows: 26th August 2020 and 05thFebruary 2021.

DETAILS OF BOARD MEETINGS HELD DURING THE FY 2020-21

S. No. Date of Meeting Type of Meeting Total Number of directors associated as on the date of meeting Number of directors attended % of attendance
1 10.06.2020 BM 5 5 100
2 25.07.2020 BM 6 5 100
3 26.08.2020 BM 8 7 100
4 11.11.2020 BM 6 5 100
5 11.12.2020 BM 6 5 100
6 05.02.2021 BM 6 5 100

DETAILS OF COMMITTEE MEETINGS HELD DURING THE FY 2020-21

S. No. Date of Meeting Type of Meeting Total Number of Members entitled to attend Committee meeting Number of directors attended % of attendance
1 10.06.2020 AC 3 3 100
2 25.07.2020 AC 3 3 100
3 26.08.2020 AC 3 3 100
4 11.11.2020 AC 3 3 100
5 05.02.2021 AC 3 3 100
6 10.06.2020 NRC 3 3 100
7 25.07.2020 NRC 3 3 100
8 26.08.2020 NRC 3 3 100
9 11.12.2020 NRC 3 3 100
10 05.02.2021 NRC 3 3 100
11 26.08.2020 SRC 3 3 100
12 05.02.2021 SRC 3 3 100

6. DIRECTORS' RESPONSIBILITY STATEMENT

As required under Section 134(5) of the Act your Board of Directors to the best oftheir knowledge and ability confirm that: -

i) in the preparation of the Annual Accounts the applicable Accounting Standards hadbeen followed with proper explanation relating to material departures if any;

ii) they have selected such accounting policies and applied them consistently and madejudgments and estimates that are reasonable and prudent so as to give a true and fair viewof the state of affairs of the Company at the end of the financial year and of the profitand loss of the Company for that period;

iii) they have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of your Company and for preventing and detecting fraud and other irregularities;

iv) they have prepared the Annual Accounts on a going concern basis;

v) they have laid down internal financial controls to be followed by the Company andsuch internal financial controls are adequate and were operating effectively;

vi) proper systems have been devised to ensure compliance with the provisions of allapplicable laws and such systems are adequate and operating effectively.

7. SUBSIDIARIES ASSOCIATES AND JOINT VENTURES

As at March 31 2021 the Company does not have any subsidiary associate or jointventure.

8. LISTING INFORMATION

The Equity Shares of the Company are presently listed only at BSE Limited and listingfee for 2021-22 is yet to be paid.

9. DEMATERIALIZATION OF SHARES

The securities of the Company are admitted with NSDL and CDSL the ISIN allotted to theCompany is INE661Q01017.

10. REPORT ON CORPORATE GOVERNANCE

In terms of Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 the provision of Regulation 27 of the SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 are not applicable to the Company since thepaid up capital of the Company is below ^ 10 crores and also the net worth of the Companyis below ? 25 Crores. Thus the Company is not required to attach the Corporate Governancereport with the Report of the Board of Directors.

11. CORPORATE SOCIAL RESPONSIBILITY

During the financial year 2019-20 the Net Worth of the Company was ^ 41330996.00Turnover of the Company was X 5434450.00 and Net profit of the Company was belowprescribed limit therefore provisions of Section 135(1) of the Companies Act

2013 read with the Companies (Corporate Social Responsibility Policy) Rules 2014 arenot applicable.

12. PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

The Company provides a gender friendly workplace during the year under review therewere no cases filed pursuant to Sexual Harassment of Women at Workplace (PreventionProhibition and Redressal) Act 2013.

The company has complied with provisions relating to the constitution of InternalComplaints Committee under the Sexual Harassment of Women at Workplace (PreventionProhibition and Redressal) Act 2013

Disclosure on remuneration pursuant to Section 197 of the Companies Act 2013 read withRule 5 (1) of the Companies (Appointment & Remuneration of Managerial Personnel)Rules 2014

There are no employees drawing remuneration in excess of the limits set out in the saidRules during the financial year. Disclosures pertaining to remuneration and other detailsas required under Section 197(12) of the Companies Act 2013 read with Rule 5(1) of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 are asfollows:

• The Ratio of the remuneration of each director to the median remuneration of theemployees of the Company for the financial year 2020-21:

S. No. Name Designation Ratio
1. Jitender Kumar Juneja Managing Director and CFO 7.64
2. Pooja Bhatia Director Nil
3. Neha Ashish Karia Director Nil
4. Mukesh Sukhija Director Nil
5. Manoj Kumar Pahwa Director Nil
6. Naresh Kumar Mansharamani Director Nil

• Percentage increase in remuneration of each director Chief Financial OfficerChief Executive Director & Company Secretary or Manager in the financial year 2020-21:

S. No. Name Designation % increase
1. Jitender Kumar Juneja Managing Director and CFO Nil
2. Pooja Bhatia Director Nil
3. Neha Ashish Karia Director Nil
4. Mukesh Sukhija Director Nil
5. Rashika Chatwal Company Secretary Nil
6. Manisha Sharma Company Secretary Nil

• Percentage increase in Median remuneration of employees in a financial year: 10%-20%

• Number of permanent employees on rolls of the Company as on 31.03.2021. :6 (Six)

• Average percentile increase already made in the salaries of employees other thanthe managerial personnel in the last financial year and its comparison with the percentileincrease in the managerial remuneration and justification thereof:

Average remuneration increase for Non Managerial Personnel of the Company during thefinancial year was 10%-20%.

The Company affirms that the remuneration is as per the Remuneration Policy of theCompany.

13. MAINTENANCE OF COST RECORDS AS SPECIFIED UNDER SECTION 148 OF THE COMPANIES ACT2013

The provisions of maintenance of cost records as specified under sub-section (1) ofsection 148 of the Companies act 2013 is not applicable to the company and accordinglyaccounts and records are not maintained as per the provisions of this section.

14. RISK MANAGEMENT

The Board has approved the Risk Management Policy of the Company. The Company's riskmanagement framework is designed to address risks intrinsic to operations financials andcompliances arising out of the overall strategy of the Company. The Company managesmonitors and reports on the principal risks and uncertainties that can impact its abilityto achieve its objectives. The responsibility for management of risks vests with theManagers/ officers responsible for the day-to-day conduct of the affairs of the Companywhich lead to identification of areas where risk management processes need to bestrengthened. Annual update is provided to the Board on the effectiveness of the Company'srisk management systems and policies.

15. INTERNAL FINANCIAL CONTROLS & INTERNAL AUDIT

The Company has adequate internal financial controls with respect to the financialstatements commensurate with the size and scale of the operations of the Company. Duringthe year such controls were tested and no reportable material weakness in operation hasbeen observed. Internal audit of the Company has been carried out during the year. TheAudit Committee reviews the internal audit findings provides guidance on internalcontrols and ensures that the internal audit recommendations are implemented.

16. PARTICULARS OF LOANS. GUARANTEES AND INVESTMENTS

The Company is a Non Banking Finance Company registered with the Reserve Bank ofIndia thus the provisions of the Section 186 of the Companies Act 2013 do not apply tothe Company.

17. RELATED PARTY TRANSACTIONS

During the year ended 31st March 2021 the Company has not entered into any RelatedParty Transactions

The Policy on materiality of related party transactions and dealing with related partytransactions as approved by the Board is available on the website of the Company atweblink: http://www.vanicommercials.com/wp- content/uploads/2019/06/VANIPolicv-on-materialitv-of-Related-Partv-Transactions-and-on-dealing-with-Related-Party-Transactions.pdf

18. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS / COURTS / TRIBUNALS

During the year under review no significant or material orders were passed by theRegulators / Courts / Tribunals which would impact the going concern status of the Companyand its future operations.

19. EXTRACT OF ANNUAL RETURN

The details of Annual return is available on the website of the company at the weblink

https://www.vanicommercials.com/wp-content/uploads/2021/08/Annual-Return-for-the-vear-ended 2020 MGT-7.pdf

20. STATUTORY AUDITORS AND AUDIT REPORT

Pursuant to the provisions of section 139 of the Companies Act 2013 read withCompanies (Audit and Auditors) Rules 2014 as amended from time to time M/s MKRJ &Co. Chartered Accountants appointed as statutory auditors of the Company from theconclusion of the 30th Annual General Meeting held on 28th September 2017 tillthe conclusion of the 35th AGM of the Company to be held in the year 2022.

The comments made by the Auditors' in their Report are self explanatory and do not callfor any further comments. The Auditors' Report does not contain any qualificationreservation or adverse remark.

21. MANAGEMENT DISCUSSION & ANALYSIS REPORT

Management's Discussion and Analysis Report for the year under review as stipulatedunder Regulation 34(2) read with Schedule V of the SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 is presented in a separate section forming apart of the Annual Report.

22. CONSERVATION OF ENERGY.

TECHNOLOGY ABSORPTION- FOREIGN EXCHANGE EARNINGS AND OUTGO CONSERVATION OF ENERGY:

Steps taken on conservation of energy and impact thereof:

Efforts to conserve electricity by operating only necessary lights fittings andfixtures were made during the financial year 2020-21.

Steps taken by the company for utilizing alternate sources of energy: NIL

Capital investment on energy conservation equipment: NIL.

TECHNOLOGY ABSORPTION:

(I) Efforts in brief made towards technology absorption and benefits derived as aresult of the above efforts e.g. product improvement cost reduction productdevelopment import substitution etc: Nil

(II) No technology was/were imported during the last 3 years reckoned from thebeginning of the Financial year.

(III) Expenditure incurred on research and development - NIL

FOREIGN EXCHANGE EARNINGS AND OUTGO

There were no foreign exchange earnings or outflow during the financial year.

23. SECRETARIAL AUDITOR & SECRETARIAL AUDIT REPORT

In terms of Section 204 of the Companies Act 2013 the Company has appointed Ms.Kavita Practicing Company Secretary of M/s A K Nandwani & Associates as theSecretarial Auditor of the Company for the Financial Year 2020-21. The Secretarial AuditReport given by Ms. Kavita Practicing Company Secretary of M/s A K Nandwani &Associates is provided under Annexure: II to this Report.

The comments made by the Secretarial Auditor are self explanatory and do not requireand further comments. The Secretarial Audit Report does not contain any qualificationreservation or adverse remark.

24. COMPLIANCE WITH SECRETARIAL STANDARD

The Board of directors state that the company has complied with the provisions of theapplicable Secretarial standards issued by the Institute of Company Secretaries of Indiaas amended from time to time

25. ESTABLISHMENT OF VIGIL MACHENISM

The Vigil Mechanism Policy of the Company is formulated in terms of section 177 (9) ofthe Companies Act 2013 read with the provisions of the Listing Agreement with the StockExchange(s) and thereby also incorporates Whistle Blower Policy. That as per the saidpolicy protected disclosures can be made by the whistle blower to the dedicated e-mail /telephone line/ letter to Chairman of Audit Committee.

The Policy on Vigil Mechanism and Whistle Blower Policy as approved by the Board isavailable on the website of the Company at weblink http://www. vanicommercials.com/wp-content/ uploads/2015/08/Vigil-Mechanism-and-Whistle-Blower- Policy.pdf

26. ACKNOWLEDGEMENT

Your directors would like to express their sincere appreciation for the assistance andcorporation received from the financial institutions banks Government authoritiescustomers vendors and members during the year under review. Your directors also wish toplace on record their deep sense of appreciation for the committed services by theCompany's executives staff and workers.

For & on behalf of Board of Directors For Vani Commercials Limited

Sd/- Sd/-
Jitender Kumar Juneja Mukesh Sukhija
Date: 10.08.2021 Managing Director and CFO Director
Place: New Delhi DIN: 06639752 DIN:01038078
Vani Commercials Limited Regd. Off.: ‘AASTHA' LP - 11C Pitampura New Delhi - 110034 CIN: L74899DL1988PLC106425 Email ID:info@vanicommercials.com

.