| Disclosure in board of directors report explanatory
DIRECTOR’S REPORT
To,
The Members,
Your Directors have pleasure in presenting their 49th Annual Report, along with Audited Statement of Accounts of your Company for the year ended 31st March, 2021.
In the current year, the Company has achieved higher capacity utilization in all its units resulting in higher sales. The sale volume has been increased by 20.26% as a result of which Company achieved higher profitability.
Financial summary or highlights/Performance of the Company: Particulars | Year ended 31st March, 2021
(? in Lacs) | Year ended 31st March, 2020
(? in Lacs) | Income from operations | 86757.22 | 72137.33 | Other Income | 453.32 | 249.20 | Total Income | 87210.54 | 72386.53 | Expenditure | 85498.77 | 70676.21 | Profit before depreciation and taxation | 2557.43 | 1710.32 | Depreciation | 845.66 | 731.56 | Profit before exceptional item and tax | 1711.76 | 978.76 | Exceptional Item (Income) | - | - | Profit before tax | 1711.76 | 978.76 | Provision for Taxation | 299.08 | 163.38 | Provision for Deferred Tax for the year | 58.37 | 25.17 | Profit after tax | 1354.32 | 790.21 |
The outbreak of COVID-19 has led to an unprecedented health crisis and disrupted economic activities and global trade, while weighing on consumer sentiments.
During the year under review, the Government of India has imposed stringent nationwide lockdowns, in phases, which severally impacted manufacturing activities. Tough the steel and mining sectors were allowed to operate under the Essential Services Maintenance Act, 1968 they were subject to certain guidelines. Steel demand were affected as key steel consuming sectors struggled to operate amidst weakening economic activities, working capital constraints, shortage of manpower and logistical issues.
To mitigate the risks and challenges faced by the Company during the pandemic, the Company enhanced safety and hygiene norms at offices, implemented work from home, staggered shift timing for safety of employees and leveraged digital platforms for day-to-day operations. During the challenging times, the Company maintained its liquidity position by minimizing cash outflows and maintaining a mix of funding instruments to fulfill its operational requirements.
Change in the nature of business:
There is no change in the nature of business of the Company.
Dividend:
The Directors decided to retain cash surplus for increase in trading activities and no dividend was recommended for the year.
Reserves:
The Surplus generated from the operations in the year has been transferred under “Reserves and Surplus”.
Share Capital
ISSUE OF EQUITY SHARE
The Company has neither bought back nor issued nor issued any bonus shares during the year.
Deposits
During the year under review, the Company has not accepted any deposit under Chapter V of the Companies Act, 2013.
Directors and Key Managerial Personnel:
In terms of the provisions of the Companies Act, 2013 and the Articles of Association of the Company, Mr. Gaurav Budhia, Director of the Company, are retiring by rotation at the ensuing Annual General Meeting and being eligible, have offered himself for re-appointment.
The Board carried out an annual performance evaluation of its own performance, the directors individually as well as evaluation of working of its Committees.
Particulars of Employee’s and Related Disclosures:
Pursuant to provisions the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the requisite details are annexed herewith vide Annexure-A and forms an integral part of this Report and are also available at the Registered Office of the Company for inspection during its business hours up to the date of AGM and any member interested in obtaining such information may directly write to the Company and shall be provided on such request.
Meetings-
During the year, the Company held 14 Board Meetings on following dates:
21.04.2020, 29.04.2020, 13.05.2020, 29.05.2020, 03.06.2020, 01.09.2020, 02.12.2020, 23.12.2020, 11.01.2021, 21.01.2021, 08.02.2021, 04.03.2021, 19.03.2021 and 20.03.2021.
Auditors and their Report:
The matters related to Auditors and their Reports are as under:-
Statutory Auditor:-
The Board has ratified the appointment of M/s Vinish Kumar & Co., for the position of Statutory Auditor of the Company from the conclusion of 47th Annual General Meeting till the conclusion of the 52nd Annual General Meeting of the Company and that they shall conduct the statutory audit for the period ended 31st March, 2021.
Further pursuant to the provision of Section 142 of the Companies Act, 2013, the proposal is put for approval of members to authorize Board of Directors to fix their remuneration for F.Y. 2020-21.
Audit Report
The observations made by the Statutory Auditor in their Audit Report read with relevant notes thereof as stated in the Notes to Audited Financial Statements of the Company for Financial Year ended 31st March, 2021 are self-explanatory and being devoid of any reservation(s), qualification(s) or adverse remark(s) etc and do not call for any further information/ explanations or comments from Board under Section 141(3) (f) (i) of the Companies Act, 2013.
Secretarial Auditors
In terms of the provisions of Section 204 of the Companies Act, 2013, Mr. Kalpana Tekriwal, Practicing Company Secretary has been appointed by the Board as Secretarial Auditor of Company for F.Y 2020-21.
Secretarial Auditor Report
Secretarial Audit Report issued by the Secretarial Auditors, in Form No.- MR-3 for F.Y. 2020-21 is Annexed herewith vide Annexure B and forms integral part of this Report.
Cost Auditors
Pursuant to provision of Section 148 and other applicable provisions, if any, of the Companies Act, 2013, the Board has approved the re-appointment of M/s Shishir Jaiswal & Co., Cost Accountants, Allahabad (Firm Registration No. 102450) as the Cost Auditors of the Company for carrying out its cost audit for F. Y. 2020-21.
Necessary resolution for ratification of remuneration payable to the Cost Auditors is included in the Notice of ensuing AGM for seeking approval of members.
Extract of Annual Return:
As required pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies (Management and Administration) Rules, 2014, an extract of annual return in MGT 9 as a part of this Annual Report as ANNEXURE D.
Material changes and commitments, if any, affecting the financial position of the Company which have occurred between the end of the financial year of the Company to which the financial statements relate and the date of the report:
The management does not perceive any material changes and commitments between the end of the Financial Year 2020-21 and the date of report that will affect the financial position of the Company. There are no orders passed by the regulators /Courts/ tribunals that will impact the going concern status of the Company.
Particulars of loans, guarantees or investments under Section 186:
There are no loans, guarantees or investments covered under Section 186 of Companies Act, 2013 during the year under review and hence the said provision is not applicable.
Particulars of contracts or arrangements with related parties:
All contracts or arrangements entered into by the Company with Related Parties during the financial year were in the ordinary course of business and on an Arm’s length basis. Pursuant to Section 134 of the Companies Act, 2013 read with Rule 8(2) of the Companies (Accounts) Rules, 2014, the particulars of transactions with related parties, are provided in Form AOC-2, which is annexed herewith as per Annexure C. Related party disclosures as per AS have been provided in Note 26 of the notes forming part of separate Financial Statements.
Disclosure of Independent Director:
Independent Director shall be appointed for a term of 5 consecutive years but he shall be eligible for re-appointment by passing of Special Resolution. In this regard, the Company must disclose such re-appointment of Independent Director in the Board Report.
The Independent Directors of Company are:
1. Payal Bafna
2. Charu Golash
Conservation of energy, technology absorption and foreign exchange earnings and outgo
The details of conservation of energy, technology absorption, foreign exchange earnings and outgo are as follows:-
(a) Conservation of energy-
(i) The steps taken or impact on conservation of energy: NIL
(ii) The steps taken by the company for utilizing alternate sources of energy: NIL
(iii) The capital investment on energy conservation equipments: NIL
(b) Technology absorption-
(i) The efforts made towards technology absorption: NIL
(ii) The benefits derived like product improvement, cost reduction, product development or import substitution: NIL
(iii) In case of imported technology (imported during the last three years reckoned from the beginning of the financial year): NIL
(iv)The expenditure incurred on Research and Development: NIL
(c) Foreign Exchange Incoming : Rs. 23,46,30,463.70/-
Foreign Exchange Outgo : Rs. 448,079,143/-
Corporate Social Responsibility (CSR):
The Company is required to constitute a Corporate Social Responsibility Committee as it falls within the purview of Section 135(1) of the Companies Act, 2013 and hence it is required to formulate policy on CSR. The Company has already constituted a CSR Committee.
Explanation or comments on qualifications, reservations or adverse remarks or disclaimers made by the auditors and the practicing company secretary in their reports-
The observations made by the Statutory Auditor in their Audit Report of the Company for Financial Year ended 31st March, 2021 are self-explanatory and do not call for any further information/ explanations or comments from Board under Section 141(3) (f) (i) of the Companies Act, 2013.
The observations made by the Secretarial Auditor in their Audit Report of the Company for Financial Year ended 31st March, 2021 are self-explanatory and do not call for any further information/ explanations or comments from Board under Section 141(3) (f) (i) of the Companies Act, 2013.
Subsidiaries, joint ventures and associate companies along with their performance and financial position:
The Company does not have any Subsidiary, Joint venture or Associate Company.
Directors’ Responsibility Statement:
The Directors’ Responsibility Statement referred to in clause (c) of sub-Section (3) of Section 134 of the Companies Act, 2013, shall state that—
(a) In the preparation of the Annual Accounts, the applicable Accounting Standards had been followed along with proper explanation relating to material departures;
(b) The directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit and loss of the Company for that period;
(c) The directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
(d) The directors had prepared the annual accounts on a going concern basis; and
(e) The directors, in the case of a listed Company, had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively.
(f) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.
General Disclosures:
Your directors state that during the F.Y. 2020-21:-
Neither the Managing Director nor the Executive Director of the Company received any commission from any other Company.
No significant or material orders were passed by the Regulators or Courts
Or Tribunals which can impact the going concern status and the Company’s operations in future.
There has been no change in the nature of business of Company.
iv. Pursuant to the provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, no case pertaining to sexual harassment at workplace has been reported to the Company.
There was no revision of the Financial Statements of the Company.
No fraud has been reported by the Auditors in their Audit Report hence the disclosure u/s 134(3) is not applicable.
Acknowledgements
Your Directors would like to place on record their appreciation for the assistance, coordination and co-operation received from the Banks, Government, Statutory Authorities, Customers, Vendors and all Stakeholders of the Company, who extended their constant patronage and support to the Company in its endeavor of constant growth.
Your Directors would like to express their deep-appreciation to the employees for their resilience, hard work, dedication, sincerity and relentless efforts which contributed to the stupendous growth and impressive performance of the Company during F. Y. 2020-21.
For and on behalf of the Board of Directors
Dr. Hari Krishna Budhia
Managing Director
DIN: 01481085
Mr. Gaurav Budhia
Director
DIN: 01652817
Place: Ranchi
Date: 17.06.2021
Annexure - D
FORM NO. MGT 9
EXTRACT OF ANNUAL RETURN
As on financial year ended on 31.03.2021
Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Company (Management & Administration) Rules, 2014.
REGISTRATION & OTHER DETAILS:
| CIN | U27100JH1971PLC000912 |
| Registration Date | 11/11/1971 |
| Name of the Company | M/s Bihar Foundry & Castings Limited |
| Category/Sub-category of the Company | Public Company Limited by shares |
| Address of the Registered office & contact details | Main Road, Ranchi, Jharkhand-834001
E Mail ID: bfclgfa@gmail.com
Contact No: 0651-2202699 |
| Whether listed Company | No |
| Name, Address & contact details of the Registrar & Transfer Agent, if any. | N.A. |
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY(All the business activities contributing 10 % or more of the total turnover of the Company shall be stated)S. No. | Name and Description of main products / services | NIC Code of the Product/service
| % to total turnover of the Company | 1 | Manufacturing facilities of metals other than iron | 99532696 | 100 |
PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIESSl. No. | Name and Address of the Company | CIN/GLN | Holding/ Subsidiary / Associate | 1 | NA | NA | NA |
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
Category-wise Share Holding:-
Category of Shareholders | No. of Shares held at the end of the year[As on 31-March-2021] | No. of Shares held at the end of the year[As on 31-March-2020] | % Change |
| Demat | Physical | Total | % of Shares | Demat | Physical | Total | % of Shares |
| A. Promoters |
|
|
|
|
|
|
|
|
| (1) Indian |
|
|
|
|
|
|
|
|
| a) Individual/ HUF | 2324750 | 3600000 | 5924750 | 73.62 | 2324750 | 3202500 | 5924750 | 73.62 | NIL | b) Central Govt | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | c) State Govt(s) | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | d) Bodies Corp. | 397500 | NIL | 397500 | 4.93 | 397500 | NIL | 397500 | 4.93 | NIL | e) Banks / FI | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | f) Any other | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | Total shareholding of Promoter (A) | 2722250 | 3600000 | 6322250 | 78.56 | 2722250 | 3600000 | 6322250 | 78.56 | NIL | B. Public Shareholding |
|
|
|
|
|
|
|
|
| 1. Institutions |
|
|
|
|
|
|
|
|
| a) Mutual Funds | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | b) Banks / FI | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | c) Central Govt | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | d) State Govt(s) | NIL | 3250 | 3250 | 0.04 | NIL | 3250 | 3250 | 0.04 | NIL | e) Venture Capital Funds | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | f) Insurance Companies | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | g) FIIs | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | h) Foreign Venture Capital Funds | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | i) Others | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | Sub-total (B)(1):- | NIL | 3250 | 3250 | 0.04 | NIL | 3250 | 3250 | 0.04 | NIL | 2. Non-Institutions |
|
|
|
|
|
|
|
|
| a) Bodies Corp. | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | i) Indian | 1580100 | 100 | 1580100 | 19.63 | NIL | 1580100 | 1580100 | 19.63 | NIL | ii) Overseas | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | b) Individuals | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | i) Individual shareholders holding nominal share capital up to Rs. 1 lakh | NIL | 141900 | 141900 | 1.76 | NIL | 141900 | 141900 | 1.76 | NIL | ii) Individual shareholders holding nominal share capital in excess of Rs 1 lakh | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | c) Others (specify) | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | Non Resident Indians | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | Overseas Corporate Bodies | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | Foreign Nationals | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | Clearing Members | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | Trusts | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | Foreign Bodies - D R | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | Sub-total (B)(2):- | 1580100 | 145250 | 1722000 | 21.39 | NIL | 1722000 | 1722000 | 21.39 | NIL | Total Public Shareholding (B)=(B)(1)+ (B)(2) | 1580100 | 145250 | 1725250 | 21.43 | NIL | 1725250 | 1725250 | 21.43 | NIL | C. Shares held by Custodian for GDRs & ADRs | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | NIL | Grand Total (A+B+C) | 4302250 | 3745250 | 8047500 | 100 | 2722250 | 5325250 | 8047500 | 100 | NIL |
B) Shareholding of Promoter-
S No. | Shareholder’s Name | Shareholding at the beginning of the year | Shareholding at the end of the year | % change in shareholding |
|
|
|
|
|
| No. of Shares | % of total Shares | % of Shares Pledged | No. of Shares | % of total Shares | % of Shares Pledged |
| 1. | Mr. Hari Krishna Budhia | 2562700 | 31.85 | 23.89 | 2562700 | 31.85 | 23.89 | - | 2. | Mrs. Aruna Budhia | 179550 | 2.24 | 1.98 | 179550 | 2.24 | 1.98 | - | 3. | Mr. Gaurav Budhia | 539550 | 6.70 | 3.47 | 539550 | 6.70 | 3.47 | - | 4. | Mr. Hari Krishna Budhia HUF | 1747950 | 21.72 | Nil | 1747950 | 21.72 | Nil | - | 5. | Mrs. Sweta Budhia | 895000 | 11.12 | Nil | 895000 | 11.12 | Nil | - | 6. | M/s Aruna Industries & Investment Private Limited | 397500 | 4.94 | Nil | 397500 | 4.94 | Nil | - |
| Total | 6322250 | 78.56 | 29.34 | 6322250 | 78.56 | 29.34 | - |
C) Change in Promoters’ Shareholding (please specify, if there is no change)
SN | Particulars | Shareholding at the beginning of the year | Cumulative Shareholding during the year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 6322250 | 78.56 | 6322250 | 78.56 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase / decrease (e.g. allotment /transfer / bonus/ sweat equity etc.): |
No changes taken place during the year.
|
| At the end of the year | 6322250 | 78.56 | 6322250 | 78.56 |
D) Shareholding Pattern of top ten Shareholders:
(Other than Directors, Promoters and Holders of GDRs and ADRs):
SN | M/s Minmet Comtrade Private Limited | Shareholding at the beginning
of the year | Cumulative Shareholding during the
year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 1580000 | 19.63 | 1580000 | 19.63 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase /decrease (e.g. allotment / transfer / bonus/ sweat equity etc.): |
NIL
|
NIL
|
NIL
|
NIL
|
| At the end of the year |
|
| 1580000 | 19.63 |
SN | (ii) Mr. Rajendra Prasad Budhia | Shareholding at the beginning
of the year | Cumulative Shareholding during the
Year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 27475 | 0.34 | 27475 | 0.34 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase /decrease (e.g. allotment / transfer / bonus/ sweat equity etc.): |
NIL
|
NIL
|
NIL
|
NIL
|
| At the end of the year |
|
| 27475 | 0.34 |
SN | (iii) Mr. Devendra Prasad Budhia | Shareholding at the beginning
of the year | Cumulative Shareholding during the
Year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 25125 | 0.31 | 25125 | 0.31 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase /decrease (e.g. allotment / transfer / bonus/ sweat equity etc.): |
NIL
|
NIL
|
NIL
|
NIL
|
| At the end of the year |
|
| 25125 | 0.31 |
SN | (iv) Mrs. Bhagirathi Devi Budhia | Shareholding at the beginning
of the year | Cumulative Shareholding during the
year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 23725 | 0.29 | 23725 | 0.29 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase /decrease (e.g. allotment / transfer / bonus/ sweat equity etc.): |
NIL
|
NIL
|
NIL
|
NIL
|
| At the end of the year |
|
| 23725 | 0.29 |
SN | (v) Mr. Krishna Kumar Todi | Shareholding at the beginning
of the year | Cumulative Shareholding during the
year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 15000 | 0.19 | 15000 | 0.019 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase /decrease (e.g. allotment / transfer / bonus/ sweat equity etc.): |
NIL
|
NIL
|
NIL
|
NIL
|
| At the end of the year |
|
| 15000 | 0.19 |
SN | (vi) Mrs. Sarla Devi Todi | Shareholding at the beginning
of the year | Cumulative Shareholding during the
Year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 15000 | 0.19 | 15000 | 0.019 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase /decrease (e.g. allotment / transfer / bonus/ sweat equity etc.): |
NIL
|
NIL
|
NIL
|
NIL
|
| At the end of the year |
|
| 15000 | 0.19 |
SN | (vii) Mr. Mintu Budhia | Shareholding at the beginning
of the year | Cumulative Shareholding during the
Year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 12850 | 0.16 | 12850 | 0.16 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase /decrease (e.g. allotment / transfer / bonus/ sweat equity etc.): |
NIL
|
NIL
|
NIL
|
NIL
|
| At the end of the year |
|
| 12850 | 0.16 |
SN | (viii) Mr. Rahul Budhia | Shareholding at the beginning
of the year | Cumulative Shareholding during the
Year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 7375 | 0.09 | 7375 | 0.09 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase /decrease (e.g. allotment / transfer / bonus/ sweat equity etc.): |
NIL
|
NIL
|
NIL
|
NIL
|
| At the end of the year |
|
| 7375 | 0.09 |
SN | (ix) M/s. Government of Bihar | Shareholding at the beginning
of the year | Cumulative Shareholding during the
Year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 3250 | 0.04 | 3250 | 0.04 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase /decrease (e.g. allotment / transfer / bonus/ sweat equity etc.): |
NIL
|
NIL
|
NIL
|
NIL
|
| At the end of the year |
|
| 3250 | 0.04 |
SN | (x) M/s. Piarey Lal Chopra | Shareholding at the beginning
of the year | Cumulative Shareholding during the
Year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 3000 | 0.04 | 3000 | 0.04 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase /decrease (e.g. allotment / transfer / bonus/ sweat equity etc.): |
NIL
|
NIL
|
NIL
|
NIL
|
| At the end of the year |
|
| 3000 | 0.04 |
E) Shareholding of Directors and Key Managerial Personnel:
SN | Dr. Hari Krishna Budhia (Managing Director) | Shareholding at the beginning
of the year | Cumulative Shareholding during the
year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 2562700 | 31.84 | 2562700 | 31.84 |
| Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase /decrease (e.g. allotment / transfer / bonus/ sweat equity etc.): | NIL | NIL | NIL | NIL |
| At the end of the year |
|
| 2562700 | 31.84 |
Sl. No. |
Aruna Budhia (Director)
| Shareholding at the beginning of the year | Cumulative Shareholding during the year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 179550 | 2.23 | 179550 | 2.23 |
| Date wise Increase / Decrease in Promoters Share holding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc): | NIL | NIL | NIL | NIL |
| At the end of the year |
|
| 179550 | 2.23 |
Sl. No. |
Gaurav Budhia (Director)
| Shareholding at the beginning of the year | Cumulative Shareholding during the year | No. of shares | % of total
shares of the
Company | No. of shares | % of total
shares of the
Company |
| At the beginning of the year | 539550 | 6.70 | 539550 | 6.70 |
| Date wise Increase / Decrease in Promoters Share holding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc): | NIL | NIL | NIL | NIL |
| At the end of the year |
|
| 539550 | 6.70 |
F) INDEBTEDNESS - Indebtedness of the Company including interest outstanding/accrued but not due for payment.
| Secured Loans excluding deposits | Unsecured Loans | Deposits | Total Indebtedness | Indebtedness at the beginning of the financial year |
|
|
|
| i) Principal Amount | 11,144,99,763 | 11,16,35,774 | 9,49,07,944 | 1,32,10,43,481 | ii) Interest due but not paid |
| - | - |
| iii) Interest accrued but not due | - | - | - | - | Total (i+ii+iii) | 11,144,99,763 | 11,16,35,774 | 9,49,07,944 | 1,32,10,43,481 | Change in Indebtedness during the financial year |
|
|
|
|
* Addition | 15,89,05,965 | - | 6,00,00,000 | 21,89,05,965 |
| * Reduction | - | (9,16,35,774) | - | (9,16,35,774) |
| Net Change | 15,89,05,965 | 9,16,35,774 | 6,00,00,000 | 12,72,70,191 |
|
Indebtedness at the end of the financial year |
|
|
|
| i) Principal Amount | 1,27,34,05,728 | 2,00,00,000 | 15,49,07,944 | 1,44,83,13,672 | ii) Interest due but not paid |
| - | - | - | iii) Interest accrued but not due | - | - | - | - | Total (i+ii+iii) | 1,27,34,05,728 | 2,00,00,000 | 15,49,07,944 | 1,44,83,13,672 |
XI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:-
A. Remuneration to Managing Director, Whole-time Directors and/or Manager:SN. | Particulars of Remuneration | Name of Director
|
|
| Mr. Gauarv Budhia | Dr. Hari Krishna Budhia | Mrs. Aruna Budhia | 1 | Gross salary |
|
|
| (a) Salary as per provisions contained in Section 17(1) of the Income-tax Act, 1961 | 48,00,000 | 60,00,000 | NIL
|
| (b) Value of perquisites u/s 17(2) Income-tax Act, 1961 | NIL | NIL | NIL |
| (c) Profits in lieu of salary under Section 17(3) Income- tax Act, 1961 | NIL | NIL | NIL |
| 2 | Stock Option | NIL | NIL | NIL | 3 | Sweat Equity | NIL | NIL | NIL | 4 | Commission
-as % of profit
- others, specify
| NIL | NIL | NIL | 5 | Others, please specify
| NIL | NIL | NIL |
| Total (A)
| 48,00,000/- | 60,00,000/- | NIL |
| Ceiling as per the Act
| In case of inadequate profits | ? 1,02,00,000/- per director | Per annum |
B. Remuneration to other directors:-
SN. | Particulars of Remuneration | Name of Directors | Total Amount |
|
| ---- | ---- | ---- | ---- | ---- | 1 | Independent Directors | NIL | NIL | NIL | NIL | NIL | Fee for attending board committee meetings | NIL | NIL | NIL | NIL | NIL |
| Commission | NIL | NIL | NIL | NIL | NIL |
| Others, please specify | NIL | NIL | NIL | NIL | NIL |
| Total (1) | NIL | NIL | NIL | NIL | NIL |
| 2 | Other Non-Executive Directors | NIL | NIL | NIL | NIL | NIL | Fee for attending board committee meetings | NIL | NIL | NIL | NIL | NIL |
| Commission | NIL | NIL | NIL | NIL | NIL |
| Others, please specify | NIL | NIL | NIL | NIL | NIL |
|
| Total (2) | NIL | NIL | NIL | NIL | NIL |
| Total (B)=(1+2) | NIL | NIL | NIL | NIL | NIL |
| Total Managerial
Remuneration | NIL | NIL | NIL | NIL | NIL |
| Overall Ceiling as per the Act | NIL | NIL | NIL | NIL | NIL |
C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN
MD/MANAGER/WTD:-
SN | Particulars of Remuneration | Key Managerial Personnel |
|
| CEO | CS | CFO | Total | 1 | Gross salary | NIL | 180000 | NIL | NIL | (a) Salary as per provisions contained in Section 17(1) of the Income-tax Act, 1961 | NIL | NIL | NIL | NIL |
| (b) Value of perquisites u/s 17(2) Income-tax Act, 1961 | NIL | NIL | NIL | NIL |
| (c) Profits in lieu of salary under Section 17(3) Income-tax Act, 1961 | NIL | NIL | NIL | NIL |
| 2 | Stock Option | NIL | NIL | NIL | NIL | 3 | Sweat Equity | NIL | NIL | NIL | NIL | 4 | Commission | NIL | NIL | NIL | NIL |
| - as % of profit | NIL | NIL | NIL | NIL |
| others, specify… | NIL | NIL | NIL | NIL | 5 | Others, please specify- | NIL | NIL | NIL | NIL |
| Total | NIL | 180000 | NIL | NIL |
XII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:-
Type | Section of the Companies Act | Brief
Description | Details of Penalty / Punishment/ Compounding fees imposed | Authority
[RD / NCLT/ COURT] | Appeal made,
if any (give Details) |
Penalty | NIL | NIL | NIL | NIL | NIL | Punishment | NIL | NIL | NIL | NIL | NIL | Compounding | NIL | NIL | NIL | NIL | NIL |
Penalty | NIL | NIL | NIL | NIL | NIL | Punishment | NIL | NIL | NIL | NIL | NIL | Compounding | NIL | NIL | NIL | NIL | NIL |
C. OTHER OFFICERS IN DEFAULT |
Penalty | NIL | NIL | NIL | NIL | NIL | Punishment | NIL | NIL | NIL | NIL | NIL | Compounding | NIL | NIL | NIL | NIL | NIL |
Description of state of companies affairFinancial summary or highlights/Performance of the Company: Details regarding energy conservationThe details of conservation of energy, technology absorption, foreign exchange earnings and outgo are as follows:- (a) Conservation of energy- (i) The steps taken or impact on conservation of energy: NIL (ii) The steps taken by the company for utilizing alternate sources of energy: NIL (iii) The capital investment on energy conservation equipments: NIL Details regarding technology absorption(b) Technology absorption- (i) The efforts made towards technology absorption: NIL (ii) The benefits derived like product improvement, cost reduction, product development or import substitution: NIL (iii) In case of imported technology (imported during the last three years reckoned from the beginning of the financial year): NIL (iv)The expenditure incurred on Research and Development: NIL Details regarding foreign exchange earnings and outgo(c) Foreign Exchange Incoming : Rs. 23,46,30,463.70/- Foreign Exchange Outgo : Rs. 448079143/-
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