Mar 31, 2018
Your Directors have pleasure in presenting their 35th Annual Report on the business and operations of the Company and the accounts for the Financial Year ended 31st March, 2018.
1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY (STANDALONE)
(IN LACS)
Particulars |
2017-18 |
2016-17 |
Revenue |
929.91 |
563.41 |
Profit/floss) Before Interest and Depreciation |
385.37 |
82.17 |
Less: Depreciation and Amortization Expenses |
1.02 |
|
Less: Interest |
0.02 |
0.41 |
Profit/fLoss) before tax |
384.34 |
81.76 |
Less: Current Tax |
106.41 |
24.25 |
Less: Deferred tax |
(0.07) |
|
Profit /(Loss) after Tax |
278.00 |
57.59 |
Add: Items that will not be reclassified to profit or loss |
89.90 |
0.41 |
Less: Income tax relating to items that will not be reclassified to profit or loss |
24.76 |
0.12 |
Total comprehensive income for the period |
343.14 |
57.87 |
2. Operational Performance
During the financial year 2017-18, the company has recorded revenue of Rs 9,29,91,262.22/- and has earned net profit of Rs 2,78,00,407.43/- as compared to profit of Rs. 57,58,541/- in the last year. The Directors are optimistic about future performance of the company.
3. CHANGE IN THE NATURE OF BUSINESS, IF ANY
There is no change in the nature of Business of the company
4. DIVIDEND
As the company retained the earnings for investment in future projects, The directors have not recommended for any dividend for the financial year 2017-18.
5. RESERVES
The Company has Rs.1,02,24,40,354.29 /- in the reserves. Out of the amount available for appropriation, directors has decided to transfer NIL amount to reserves.
6. SHARE CAPITAL
The share capital of the company remains unchanged during the year and company has neither issued any equity shares with differential rights nor any sweat equity shares.
S. No |
Name of the Person |
Designation |
Appointment/Resignation/Change in designation |
Date of Appt./Resign/Change in designation |
1 |
Ms. Neha Nimja |
Independent Director |
Change in designation |
25/09/2017 |
2 |
Mr. Suresh |
Independent Director |
Change in designation |
25/09/2017 |
Further, in addition to the above mentioned restructuring of the Board, the following changes were also made during the last financial year: Mrs. Anupama Singh Tyagi who was liable to retire by rotation was re-appointed in the AGM held on 25th September, 2017.
In Compliance to section 203 and 134 of the Companies Act, 2013 the following Directors and Key Managerial Personnel has been appointed and resigned during the year are as follows: -
Ms. Nikita Rohilla has been appointed as the company Secretary with effect from 1st August, 2017.
8. PARTICULARS OF EMPLOYEES
Pursuant to the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, there are no employees who withdraw a salary exceeding the limits as prescribed in the aforesaid rules.
9. MEETINGS
In the Compliance of Provisions of clause (b) of sub-section (3) of Section 134 of Companies Act, 2013, there were 6 (six) Board Meetings held during the financial year, the details of which are given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.
10. BOARD EVALUATION
Pursuant to the provisions of the Section 178 of the Companies Act, 2013 and Regulation 17 of SEBI Listing Regulations, 2015, the Board has carried out an annual performance evaluation of its own performance, the directors including independent directors individually as well as the evaluation of the working of its Audit, Nomination & Remuneration and Compliance Committees. The manner in which the evaluation has been carried out has been explained in the Corporate Governance Report.
11. DECLARATION BY AN INDEPENDENT DIRECTOR(S) AND RE-APPOINTMENT, IF ANY
All independent Directors have given their Independency declaration as provided in sub-section (6) of Section 149 of the Companies Act, 2013.
12. REMUNERATION POLICY
The company has framed Remuneration Policy in compliance with Section 178 of the Companies Act, 2013, read with applicable Rules thereto and SEBI LODR Regulations.
The Key Highlights of the Policy are:
1. The Objective of Remuneration Policy is to attract and retain high calibre talent and assume that the policy is in consonance with the existing industry practice.
2. The Company''s Remuneration Strategy is a key and integral component of the broader Human Resource Strategy of the Company and, whilst focusing on remuneration and related aspects of performance management, is aligned with and reinforces the employee value proposition of a superior quality of work life, that includes an enabling work environment, an empowering and engaging work culture and opportunities to learn and grow.
3. The policy ensures that remuneration practices support and encourage the performance of employees.
4. Remuneration of Executive Directors, Key Managerial Personnel and Senior Management is determined and recommended by the Board Nomination & Remuneration Committee and approved by the Board.
5. The remuneration shall be subject to the approval of the shareholders of the Company, wherever required. It shall be as per the statutory provisions of the Companies Act, 2013 read with the rules made thereunder for the time being in force.
6. Remuneration is reviewed and revised periodically and also when such a revision is warranted by the market.
There is no employee in the company drawing remuneration in excess as prescribed under Rule 5 of Companies (Appointment & Remuneration) Rules, 2014. However, the list of Top 10 employees is attached with the report and marked as Annexure-V.
13. MANAGERIAL REMUNERATION
1. Ratio of remuneration of each director to median remuneration of employees |
|
Atul Singh Tyagi |
3.9 Lacs (annually) |
2. Percentage increase in remuneration of each director and KMPs |
62.50% |
3. Percentage increase in the median remuneration of employees |
-16.83% |
4. Number of permanent employees |
24 but the Company does not employ 20 or more than 20 employees at any point of time. |
5. Affirmation that the remuneration is as per the remuneration policy of the company |
Yes, the Company has paid the remuneration as per the remuneration policy of the Company |
*The Company do not employ more than 20 people at any point during the year.
14. DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES
Name of the Companies, which become or ceased as Subsidiaries/Joint Ventures/Associates Companies during the year:
S. No. |
Name of the Company |
CIN/Registration Number |
Subsidiary/Joint Ventu re/Associates Company |
Date on which become / Ceased |
Become/Ceased |
1. |
Akshat Commodity Ltd |
U93000UR1992PLC033416 |
Associate |
18th December, 2017 |
Become |
Pursuant to sub-section (3) of Section 129 of the Act and rules made thereunder, the statement containing the salient feature of the financial statement of a Company''s subsidiary or subsidiaries, associate company or companies and joint venture or ventures is given as Annexure-ll.
During the year, the Company generated revenue of Rs. 947.10 Lacs at group level.
Further, the Annual Accounts and related documents of the subsidiary and associate company shall be kept open for inspection at the Registered & Corporate Office of the Company after their finalization. The Company will also make available copy thereof upon specific request by any Member of the Company for the same. Further, pursuant to Accounting Standards AS-21 issued by the Institute of Chartered Accountants of India, Consolidated Financial Statements presented by the Company in this Annual Report include the financial information of its Subsidiaries and Associates.
15. AUDITORS
The Auditors, M/s Ankur Vinod & Co., Chartered Accountants were appointed as the statutory auditors of the Company in the AGM held on 25th September, 2017 to hold office till the conclusion of 39th AGM of the Company
In accordance with the Companies Amendment Act, 2017, enforced on 7th May, 2018 by the Ministry of Corporate Affairs, the appointment of Statutory Auditors is not required to be ratified at every Annual General Meeting.
The Auditor has confirmed that they are not disqualified under any provisions of Section 141(3) of Companies Act, 2013 and also their engagement with the company is within the prescribed limits under section 141 (3)(g) of Companies Act, 2013
16. AUDITORS'' REPORT
The Auditors'' Report does not contain any qualification. Notes to Accounts and Auditors remarks in their report are self-explanatory and do not call for any further comments.
17. DISCLOSURE ABOUT COST AUDIT
As per the Cost Audit Orders, Cost Audit is not applicable to the Company''s for the FY 2017-18.
18. SECRETARIAL AUDIT REPORT
In terms of Section 204 of the Act and Rules made there under, M/s. Dharamveer Dabodia & Associates, Practicing Company Secretary has been appointed Secretarial Auditor of the Company. The report of the Secretarial Auditor is enclosed as Annexure III to this report.
The point-wise comments are enumerated as follows:
1. Delay in form filling
Due to oversight, the company failed to file some of the forms in prescribed time frame of Companies Act, 2013 and applicable additional fees has already been paid to Ministry of Corporate Affairs.
2. Company Engaged in Financing & Investment Activity
The Company is engaged in the business of Investing and granting of loan as enumerated in the main object of its Memorandum of Association.
19. INTERNAL AUDITS CONTROLS
In terms of Section 138 of the Companies Act, 2013 and Rule 13 of Company (Accounts) Rules, 2013, the Company appointed M/s "Ankur K Gupta & Co.", Chartered Accountants as Internal Auditor on 3rd February, 2016. During the year, the Company continued to implement their suggestions and recommendations to improve the control environment. Their scope of work includes review of processes for safeguarding the assets of the Company, review of operational efficiency, effectiveness of systems and processes, and assessing the internal control strengths in all areas. Internal Auditors findings are discussed and corrective steps are taken as per the directions of Audit Committee on an ongoing basis to improve efficiency in operations.
20. VIGIL MECHANISM:
In pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013, a Vigil Mechanism for Directors and Employees to report their genuine concerns has been established. The Vigil Mechanism Policy has been uploaded on the website of the Company at www.apoorvaleasingfinance.com under investors/policy documents/Vigil Mechanism Policy link.
21. RISK MANAGEMENT POLICY
The Company has in place comprehensive risk management and minimization procedures, which are reviewed by the top management.
22. 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 forms part of this Annual Report as ANNEXURE I. The extract of annual return is also available at the website of company www.apoorvaleasingfinance.com
23. 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
There is no Material changes occurred subsequent to the close of the financial year of the Company to which the balance sheet relates and the date of the report like settlement of tax liabilities, operation of patent rights, depression in market value of investments, institution of cases by or against the company, sale or purchase of capital assets or destruction of any assets etc. However, Registrar of Companies, NCT of Delhi & Haryana has filed a winding up petition before Hon''ble National Company Law Tribunal under section 271 of the Companies Act, 2013. The matter is subjudice. Mr. Atul Singh Tyagi and M/s Times Capital Services Private Limited have given open offer to takeover the company and also for changing of management of the company.
24. COMPLIANCES OF REGULATION 39 OF SEBI (LODR) REGULATIONS, 2015
The said regulation is not applicable on the company as there are no unclaimed shares in the company.
25. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY''S OPERATIONS IN FUTURE
On 7th July, 2017, the Company has received a notice from the office of the Regional Director, Northern Region, under section 274(4) of the Companies Act, 2013 for winding up. The Company has not received any significant or material orders passed by the regulators or courts or tribunals impacting the going concern status and Company''s operations in future.
26. DETAILS
According to Section 134 (5)(e) of the Companies Act, 2013, the term Internal Financial Control (IFC) means the policies and procedures adopted by the Company for ensuring the orderly and efficient conduct of its business, including adherence to Company''s policies, the safeguard of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information.
The Company has a well placed internal financial control system, which ensures the all assets are safeguarded, and protected and that the transactions are authorized, recorded and reported correctly. The Company''s Internal Financial Control System also comprises of due compliances with Company''s policies and Standard Operating Procedures (SOPs) and audit and compliance by Internal Audit Team, M/s "Ankur K Gupta & CO.", Chartered Accountants, Delhi.
27. DEPOSITS
The company has neither accepted nor renewed any deposits falling under chapter V of Companies Act, 2013.
28. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186
The Company has provided following loans and guarantees and made following investments pursuant to Section 186 of the Companies Act, 2013:
a) Details of Investment
S.No. |
Details of investment |
Amount (Rs.) |
1. |
Investment in Listed Shares of Sun Pharma |
2,407,996.30 |
2. |
Mutual Fund-Franklin India Ultra Short Bond Fund |
392,500,000.00 |
3. |
Mutual Fund-ICICI Prudential Mutual Fund Collection |
5,000,000.00 |
4. |
Mutual fund-UTI Mutual Fund Collection |
5,000,000.00 |
5. |
Flat No. 307, Vasant Kunj |
14,000,000.00 |
6. |
Flat No. 403, Vasant Kunj |
12,000,000.00 |
7. |
Investment in Precious Stones |
2,000,000.00 |
8. |
Plot No. 73, Sector-45, Noida |
17,550,800.00 |
9. |
Shares of Akshat Commodity Limited |
36,059,000.00 |
10. |
Shares of Space Height Construction Pvt. Ltd. |
1,587,500.00 |
|
Total |
4,88,1,05,296.30 |
b) Details of Loan
SI. No |
Particulars |
Amount in INR |
1. |
Akshat Commodity Ltd. |
34,300,000 |
2. |
Am it Srivastava |
2,500,000 |
3. |
Ananya Dreams Homes Pvt. Ltd. |
5,500,000 |
4. |
Anmol Khatri |
7,000,000 |
5. |
Ashu Garments Pvt. Ltd. |
5,400,000 |
6. |
Brys Resorts Pvt Ltd |
3,950,000 |
7. |
Cloud Business Advisory Limited |
3,000,000 |
8. |
Deepak Bhandari |
2,500,000 |
9. |
Delight Buildcon Pvt. Ltd. |
1,000,000 |
10. |
Dolly J Studio LLP |
17,500,000 |
11. |
Dwarika Softech Solutions Pvt. Ltd. |
42,500,000 |
12. |
Espan Infrastructure Ltd. |
15,000,000 |
13. |
Falcon Buildtech |
5,000,000 |
14. |
HOTLIGHT WOODCRAFT |
21,000,000 |
15. |
Impex Softech Pvt. Ltd |
8,000,000 |
16. |
J.B.Spintex Pvt. Ltd. |
5,000,000 |
17. |
JS BhushanCap Fin |
12,500,000 |
18. |
Neeraj Kumar Singh |
5,000,000 |
19. |
Neeraj Singh HUF |
8,000,000 |
20. |
Prateek Sinha |
3,000,000 |
21. |
Rajinder Deepa |
1,000,000 |
22. |
Rocksand Support |
17,000,000 |
23. |
Siddhant Sharma |
1,500,000 |
24. |
SolitareSatyamPvt. Ltd |
10,500,000 |
25. |
Sparkle Edge LLP |
7,000,000 |
26. |
Spirare Energy Pvt. Ltd. |
8,000,000 |
27. |
SSK Construction Pvt. Ltd. |
26,500,000 |
28. |
Swarup Orimono Pvt. Ltd. |
100,000 |
29. |
Vanadiam Infra Project Pvt. Ltd. |
8,000,000 |
30. |
Vardhman Box & Printers Pvt. Ltd. |
3,000,000 |
31. |
Vikas Agarwal |
2,500,000 |
29. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
The particulars of every contract or arrangements entered into by the Company with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013, are disclosed in Form No. AOC-2 as Annexure-lll of this report. With reference to section 134(3) (h) of Companies Act, 2013 all contracts and arrangement with related parties under section 188(1) entered by the Company during the financial year 2016-17 were in ordinary course of business and on arm length basis.
30. CORPORATE GOVERNANCE CERTIFICATE
The Compliance certificate from the auditors regarding compliance of conditions of Corporate Governance as stipulated in Regulation 27 of the SEBI (LODR) Regulations, 2015 is annexed with the report.
31. MANAGEMENT DISCUSSIONS AND ANALYSIS
The Management Discussion and Analysis forms part of this Annual Report for the year ended 31st March, 2018 is annexed for the reference of the stakeholders.
32. OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACTS, 2013
The company has in place an Anti Sexual Harassment policy in line with the requirement of the Sexual Harassment of Women at the workplace (Prevention, Prohibition & Redressal) Act, 2013. Internal Complaint Committee has been set up to redress complaints received regarding sexual Harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy.
During the financial year 2017-18 the company has not received any Sexual Harassment complaint.
33. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
Since the Company is an investment Company and is engaged in the business of investment into various securities available in the market, it does not require to take steps for conservation of energy, utilize alternate sources of energy and to make capital Investment on energy conservation equipment''s.
Further, the Company''s nature of activity does not require it to obtain and absorb technology. Accordingly, the information related to technology absorption, adaptation and innovation is reported to be Nil.
Further, Company has not earned and made any expenditure in foreign currency during the financial year 2017-18, therefore foreign exchange In-Flow and Out-Flow was Nil during the year.
34. CORPORATE SOCIAL RESPONSIBILITY (CSR)
The Company is not covered by of the provisions of section 135 of the Companies Act, 2013 and the rules made thereunder, therefore, it is not mandatorily required to undertake the Corporate Social Responsibility (CSR) activities for the financial year 2017-18.
35. HUMAN RESOURCES
Your Company does not have large "human resources" as the primary business is investing activity. However, your Company continuously invests in attraction, retention and development of talent on an ongoing basis.
36. DIRECTORS'' RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) of the Companies Act, 2013, the Directors based on the representations received from the operating management and after due inquiry confirms 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, 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.
37. TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND
The provisions of the said sections are not applicable to the company as no unpaid dividend is lying with the Company.
38. LISTING WITH STOCK EXCHANGES
The Company confirms that it has paid the annual listing fees for the Year 2017-18 to BSE where the Company''s shares are listed.
39. COMPLIANCE WITH SECRETARIAL STANDARDS
The Company has duly followed the applicable Secretarial standards, SS-1 &SS-2 relating to Meeting of the Board of Directors and General Meeting respectively.
40. ACKNOWLEDGEMENTS
Your Directors acknowledge the recognition given and trust reposed in your Company by the shareholders, clients, bankers, suppliers and associates and records their appreciation for the support lent by them.
For and on behalf of the Board of Directors |
Apoorva Leasing Finance and Investment Company Limited |
Sd/- |
Sd/- |
Atul Singh Tyagi |
Suresh |
Managing Director |
Director |
DIN-01335008 |
DIN- 07762126 |
Place: Noida |
|
Date: 14th August 2018 |
ANNEXURE INDEX
ANNEXURE No. |
CONTENT |
1 |
Annual Return Extracts in MGT 9 |
II |
Details of Subsidiaries and Associates-AOC-1 |
III |
AOC 2 - Related Party Transactions |
IV |
MR-3 Secretarial Audit Report |
V |
Top Ten Employees in terms of remuneration drawn |
Annexure-l to Directors Report for the Year ended 31st March 2018
FORM NO. MGT 9 EXTRACT OF ANNUAL RETURN
As on financial year ended on 31.03.2018
Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the Company (Management & Administration) Rules, 2014
I. REGISTRATION & OTHER DETAILS:
1 |
CIN |
L74899DL1983PLC016713 |
2 |
Registration Date |
07/10/1983 |
3 |
Name of the Company |
Apoorva leasing Finance And Investment Company Limited |
4 |
Category of the Company Sub-category of the Company |
Company Limited by shares Non-govt. Company |
5 |
Address of the Registered office & contact details |
13/331, Third Floor, Geeta Colony, Delhi-110034 Phone: 011-65333451 Corp. Off: C-l/9, Sector-31, Gautam Budh Nagar,Noida-201301 Phone: 0120- 4372849 |
6 |
Whether Listed company |
Yes |
7 |
Name, Address & contact details of the Registrar & Transfer Agent, if any. |
Big Share Services Pvt. Ltd. 4E/8, First Floor, Jhandewalan Ext. , Delhi-110055 Phone: 011-22446748 |
II. 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 |
Financial Activities |
64990 |
100% |
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES.
S. No. |
Name and Address of the Company |
CIN/GLN |
Holding/ Subsidiary /Associate |
%age of Shares held |
Applicable Section |
1. |
Avancer Infrasolution Pvt. Ltd. |
U45400DL2011PTC222367 |
Associate |
24.24 |
Section 2(6) |
2. |
Antriksh Stocks & Shares Broker Pvt. Ltd. |
U74900DL1998PTC095832 |
Associate |
50 |
Section 2(6) |
3. |
Space Height Constructions Pvt. Ltd. |
U74899DL1991PTC044885 |
Subsidiary |
53.24 |
Section 2(87)(ii) (a) |
4. |
Summer Infotech Pvt. Ltd |
U72200DL2005PTC142601 |
Subsidiary |
90.30 |
Section 2(87)(ii) (a) |
5. |
Yukati E Services Limited |
U72200DL2006PLC147096 |
Subsidiary |
82.76 |
Section 2(87)(ii) |
6. |
Cloud Business Advisory Ltd. |
U74999DL2016PLC292627 |
Subsidiary |
100 |
Section 2(87)(ii) |
7. |
Akshat Commodity Limited |
U93000UR1992PLC033416 |
Associate |
24.93 |
Section 2(6) |
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
A. Category-wise Share Holding
Category of Shareholders |
No. of Shares held at the beginning of the year |
No. of Shares held at the end of the year |
% Change during the year |
||||||
Demat |
Physical |
Total |
% of Total Shares |
Demat |
Physical |
Total |
% of Total Shares |
||
A. Promoters |
|||||||||
(1) Indian |
|||||||||
a) Individual/ HUF |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
b) Centra IGovt |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
c) State Govt(s) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
d) Bodies Corp. |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
e) Banks /Fl |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
f) Any other |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Total shareholding of Promoter (A) |
0 |
0 |
0 |
0 |
- |
0 |
0 |
0 |
0 |
B. Public Shareholding |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
01. Institutions |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
a) Mutual Funds |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
b) Banks /Fl |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
c) Central Govt |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
d) State Govt(s) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
e) Venture Capital Funds |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
f) Insurance Companies |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
g) Flls |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
h) Foreign Venture Capital Funds |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
i) Others (specify) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Sub-total (B)(l):- |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
2. Non-Institutions |
|||||||||
a) Bodies Corp. |
|||||||||
i) Indian |
|||||||||
ii) Overseas |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
b) Individuals |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
i) Individual shareholders holding nominal share capital up to Rs. 2 lakh |
21680 |
34300 |
55980 |
0.28 |
42070 |
34300 |
76370 |
0.38 |
0.10 |
ii) Individual shareholders holding nominal share capital in excess of Rs 2 lakh |
1948200 |
0 |
1948200 |
9.75 |
1317560 |
0 |
1317560 |
6.59 |
-3.16 |
c) Others (Body Corporate) |
15365420 |
2605300 |
1797070 |
89.97 |
16365670 |
2215300 |
18580970 |
93.03 |
3.06 |
Non Resident Indians |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Overseas Corporate Bodies |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Foreign Nationals |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Clearing Members |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Trusts |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Foreign Bodies - D R |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Sub-total (B)(2):- |
17335300 |
2639600 |
19974900 |
100 |
17725300 |
22499600 |
19974900 |
100 |
0 |
Total Public Shareholding (B)=(B)(1) (B)(2) |
17335300 |
2639600 |
19974900 |
100 |
17725300 |
22499600 |
19974900 |
100 |
0 |
C. Shares held by Custodian for GDRs &ADRs |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Grand Total (A B C) |
17335300 |
2639600 |
19974900 |
100 |
17725300 |
22499600 |
19974900 |
100 |
0 |
B. Shareholding of Promoter-
SN |
Shareholder''s Name |
Shareholding at the beginning of the year |
Shareholding at the end of the year |
% change in shareholding during the year |
||||
No. of Shares |
% of total Shares of the company |
%of Shares Pledged / encumbered to total shares |
No. of Shares |
% of total Shares of the company |
%of Shares Pledged / encumbered to total shares |
|||
1 |
Sri Amarnath Finance Ltd. |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
2 |
Surender Kumar Jain |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
TOTAL |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
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 tota Isharesofthe company |
||
1 |
Sri Amarnath Finance Limited |
||||
At the beginning of the year |
0 |
0 |
0 |
0 |
|
Change during the year |
No Change during the year |
||||
At the end of the year |
0 |
0 |
|||
2 |
Surender Kumar Jain |
At the beginning of the year |
0 |
0 |
0 |
0 |
|
Change during the year |
No Change during the year |
||||
At the end of the year |
0 |
0 |
- |
- |
Shareholding Pattern of top ten Shareholders:
(Other than Directors, Promoters and Holders of GDRs and ADRs):
S.No. |
Shareholders Name |
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 |
||
1 |
KD Stock Broking Private Limited |
||||
At the beginning of the year |
33,98,300 |
17.01 |
|||
Changes during the year |
33,98,300 |
17.01 |
|||
At the end of the year |
33,98,300 |
17.01 |
33,98,300 |
17.01 |
|
2 |
Times Capital Services Private Limited |
||||
At the beginning of the year |
22,06,000 |
11.04 |
|||
Changes during the year |
1,98,500 |
0.99 |
|||
At the end of the year |
24,04,500 |
12.03 |
24,04,500 |
12.03 |
|
3 |
Varima Exports Pvt Ltd |
||||
At the beginning of the year |
21,71,000 |
10.86 |
- |
- |
|
Changes during the year |
2,09,000 |
1.05 |
|||
At the end of the year |
23,80,000 |
11.91 |
23,80,000 |
11.91 |
|
4 |
Lovely Securities Private Limited |
||||
At the beginning of the year |
13,94,500 |
6.98 |
- |
- |
|
Changes during the year |
- |
- |
13,94,500 |
6.98 |
|
At the end of the year |
13,94,500 |
6.98 |
13,94,500 |
6.98 |
|
5 |
Hillridge Investments Limited |
||||
At the beginning of the year |
10,18,000 |
5.096 |
|||
Changes during the year-No Change |
10,18,000 |
5.096 |
|||
At the end of the year |
10,18,000 |
5.096 |
10,18,000 |
5.096 |
|
6 |
Prosoft Trading Private Limited |
||||
At the beginning of the year |
8,57,870 |
4.29 |
- |
- |
|
Changes during the year |
- |
- |
8,57,870 |
4.29 |
|
At the end of the year |
8,57,870 |
4.29 |
8,57,870 |
4.29 |
|
7 |
MACOR PACKAGING LIMITED |
||||
At the beginning of the year |
7,27,300 |
3.64 |
- |
||
Changes during the year |
- |
- |
7,27,300 |
3.64 |
|
At the end of the year |
7,27,300 |
3.64 |
7,27,300 |
3.64 |
|
8 |
Reliable Finance Corpn Pvt Ltd |
||||
At the beginning of the year |
4,99,500 |
2.50 |
|||
Changes during the year |
|||||
At the end of the year |
4,99,500 |
2.50 |
4,99,500 |
2.50 |
|
9 |
Manjeet Singh |
||||
At the beginning of the year |
9,20,100 |
4.61 |
- |
- |
|
Changes during the year |
-4,32,600 |
-2.17 |
- |
- |
|
At the end of the year |
4,87,500 |
2.44 |
4,87,500 |
2.44 |
|
10 |
Silvant Investment And Finance Pvt Ltd |
||||
At the beginning of the year |
3,99,000 |
2.00 |
|||
Changes during the year |
3,99,000 |
2.00 |
|||
At the end of the year |
3,99,000 |
2.00 |
3,99,000 |
2.00 |
|
11 |
Paschim Finance And Chit Fund Pvt Ltd |
||||
At the beginning of the year |
3,99,000 |
2.00 |
- |
- |
|
Changes during the year |
3,99,000 |
2.00 |
|||
At the end of the year |
3,99,000 |
2.00 |
3,99,000 |
2.00 |
|
12 |
Bagh Kothi Investment & Finance Pvt Ltd |
||||
At the beginning of the year |
3,99,000 |
2.00 |
- |
- |
|
Changes during the year |
- |
- |
3,99,000 |
2.00 |
|
At the end of the year |
3,99,000 |
2.00 |
3,99,000 |
2.00 |
|
13 |
GPN Associates Pvt Ltd |
||||
At the beginning of the year |
3,99,000 |
2.00 |
|||
Changes during the year |
3,99,000 |
2.00 |
|||
At the end of the year |
3,99,000 |
2.00 |
3,99,000 |
2.00 |
|
14 |
Danveer Investments Pvt Ltd |
||||
At the beginning of the year |
3,99,000 |
2.00 |
- |
- |
|
Changes during the year |
- |
- |
3,99,000 |
2.00 |
|
At the end of the year |
3,99,000 |
2.00 |
3,99,000 |
2.00 |
|
15 |
Twinkle Mercantile & Credits Pvt. Ltd |
||||
At the beginning of the year |
3,99,000 |
2.00 |
|||
Changes during the year |
- |
- |
3,99,000 |
2.00 |
|
At the end of the year |
3,99,000 |
2.00 |
3,99,000 |
2.00 |
|
16 |
Hum Turn Marketing Pvt. Ltd |
||||
At the beginning of the year |
3,99,000 |
2.00 |
|||
Changes during the year |
3,99,000 |
2.00 |
|||
At the end of the year |
3,99,000 |
2.00 |
3,99,000 |
2.00 |
|
17 |
Nandi Mercantiles Pvt. Ltd. |
||||
At the beginning of the year |
3,99,000 |
2.00 |
- |
- |
|
Changes during the year |
- |
- |
3,99,000 |
2.00 |
|
At the end of the year |
3,99,000 |
2.00 |
3,99,000 |
2.00 |
|
18 |
Edoptica Retail India Ltd. |
||||
At the beginning of the year |
3,99,000 |
2.00 |
Changes during the year |
3,99,000 |
2.00 |
|||
At the end of the year |
3,99,000 |
2.00 |
3,99,000 |
2.00 |
|
19 |
Shanta Agencies Put. Ltd. |
||||
At the beginning of the year |
3,99,000 |
2.00 |
- |
- |
|
Changes during the year |
- |
- |
3,99,000 |
2.00 |
|
At the end of the year |
3,99,000 |
2.00 |
3,99,000 |
2.00 |
|
20 |
VA Realcon Private Limited |
||||
At the beginning of the year |
3,99,000 |
2.00 |
|||
Changes during the year |
- |
- |
3,99,000 |
2.00 |
|
At the end of the year |
3,99,000 |
2.00 |
3,99,000 |
2.00 |
|
21 |
Star Infovision Private Limited |
||||
At the beginning of the year |
3,99,000 |
2.00 |
|||
Changes during the year |
3,99,000 |
2.00 |
|||
At the end of the year |
3,99,000 |
2.00 |
3,99,000 |
2.00 |
E. Shareholding of Directors and Key Managerial Personnel:
SN 1. |
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 |
||
1. |
Neha Nimja |
||||
At the beginning of the year |
Nil |
Nil |
Nil |
Nil |
|
Changes during the Year - No change |
No Change During the Year |
||||
At the end of the year |
Nil |
Nil |
|||
2. |
Suresh |
||||
At the beginning of the year |
Nil |
Nil |
Nil |
Nil |
|
Changes during the Year - No change |
No Change During the Year |
||||
At the end of the year |
Nil |
Nil |
- |
- |
|
3. |
Anupama Singh Tyagi |
||||
At the beginning of the year |
Nil |
Nil |
Nil |
Nil |
|
Changes during the Year - No change |
No Change During the Year |
||||
At the end of the year |
Nil |
Nil |
- |
- |
|
4. |
Atul Singh Tyagi |
||||
At the beginning of the year |
Nil |
Nil |
Nil |
Nil |
|
Changes during the Year - No change |
No Change During the Year |
||||
At the end of the year |
Nil |
Nil |
|||
5. |
Nikita Rohilla |
||||
At the beginning of the year |
Nil |
Nil |
Nil |
Nil |
|
Changes during the Year - No change |
No Change During the Year |
||||
At the end of the year |
Nil |
Nil |
- |
- |
V. INDEBTEDNESS-Indebtedness of the Company including interest outstanding/accrued but not due for payment.
INDEBTEDNESS |
Secured Loans excluding deposits |
Unsecured Loans |
Deposits |
Total Indebtedness |
Indebtedness at the beginning of the financial year |
- |
- |
- |
- |
i) Principal Amount |
- |
- |
- |
- |
ii) Interest due but not paid |
- |
- |
- |
- |
iii) Interest accrued but not due |
||||
Total (i ii iii) |
- |
- |
- |
- |
Change in Indebtedness during the financial year |
||||
* Addition |
- |
- |
- |
- |
* Reduction |
- |
- |
- |
|
Net Change |
||||
Indebtedness at the end of the financial year |
- |
- |
- |
- |
i) Principal Amount |
- |
- |
- |
- |
ii) Interest due but not paid |
- |
- |
- |
- |
iii) Interest accrued but not due |
- |
- |
- |
|
Total (i ii iii) |
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL-
A. Remuneration to Managing Director, Whole-time Directors and/or Manager:
SN |
Particulars of Remuneration |
Name of MD/ WTD/ Manager |
Name of MD/WTD/ Manager |
Name of MD/WTD/ Manager |
Total Amount |
Mr. Atul Singh Tyagi (MDcumCFO) |
|||||
1 |
Gross salary |
39,00,000 |
- |
- |
39,00,000 |
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 |
|||||
(b) Value of perquisites u/s 17(2) Income-tax Act, 1961 |
- |
- |
- |
- |
|
(c) Profits in lieu of salary under section 17(3) Income- tax Act, 1961 |
|||||
2 |
Stock Option |
- |
- |
- |
- |
3 |
Sweat Equity |
||||
4 |
Commission - as % of profit - others, specify... |
||||
5 |
Others, please specify |
- |
- |
- |
- |
Total (A) |
39,00,000 |
39,00,000 |
|||
Ceiling as per the Act |
5% |
B. Remuneration to other directors |
||||||||
SN |
Particulars of Remuneration |
Name of Directors |
Total Amount |
|||||
1 |
Independent Directors |
Neha Nimja |
Suresh |
Nil |
||||
Fee for attending board committee meetings |
Nil |
Nil |
Nil |
|||||
Commission |
Nil |
Nil |
Nil |
|||||
Others, please specify |
Nil |
Nil |
Nil |
|||||
Total (1) |
Nil |
Nil |
Nil |
|||||
2 |
Other Non-Executive Directors |
Anupama Singh Tyagi |
N.A. |
|||||
Fee for attending board committee meetings |
Nil |
Nil |
Nil |
|||||
Commission |
Nil |
Nil |
Nil |
|||||
Others, please specify |
Nil |
Nil |
Nil |
|||||
Total (2) |
Nil |
Nil |
Nil |
|||||
Total (B)=(l 2) |
Nil |
Nil |
Nil |
Nil |
Nil |
Nil |
||
Total Managerial Remuneration |
Nil |
Nil |
Nil |
Nil |
Nil |
Nil |
||
Overall Ceiling as per the Act |
Rs. 1 Lacs Per Meeting |
B. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD
SN |
Particulars of Remuneration |
Key Managerial Personnel |
|||
CEO |
Nikita Rohilla |
Aditi (CS) |
Total |
||
1 |
Gross salary |
2,10,792 |
20,000 |
2,30,732 |
|
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 |
2,10,792 |
20,000 |
|||
(b) Value of perquisites u/s 17(2) Income-tax Act, 1961 |
|||||
(c) Profits in lieu of salary under section 17(3) Income-tax Act, 1961 |
- |
- |
- |
- |
|
2 |
Stock Option |
- |
- |
- |
- |
3 |
Sweat Equity |
- |
- |
- |
- |
4 |
Commission |
- |
|||
- as % of profit |
|||||
others, specify... |
|||||
5 |
Others, please specify |
||||
Total |
- |
2,10,792 |
20,000 |
2,30,732 |
** AtuI Singh Tyagi is the CFO and Managing Director and draws the salary as Managing Director. VII. 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) |
A. COMPANY |
|||||
Penalty |
Nil |
Nil |
Nil |
Nil |
Nil |
Punishment |
Nil |
Nil |
Nil |
Nil |
Nil |
Compounding |
Nil |
Nil |
Nil |
Nil |
Nil |
B. DIRECTORS |
|||||
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 |
For and on behalf of the Board of Directors
Apoorva Leasing Finance and Investment Company Limited
Sd/- |
Sd/- |
Atul Singh Tyagi |
Suresh |
Managing Director |
Director |
DIN-01335008 |
DIN- 07762126 |
Place: Noida
Date: 14th August, 2018
Annexure-ll to Directors Report for the year ended 31st March, 2018 STATEMENT PURSUANT TO FIRST PROVISO TO SUB -SECTION (3) OF SECTION 129 READ WITH RULE 5 OF COMPANIES (ACCOUNTS) RULES, 2014
PART-A SUBSIDIARIES
S.No. |
Name of Subsidiary |
Yukati E Services Limited |
Cloud Business Advisory Ltd. |
Summer Infotech Pvt. Ltd |
Space Height Constructions Pvt. Ltd |
1 |
Date Since When Subsidiary Was Acquired |
31st March, 2016 |
15th March, 2018 |
31st March, 2016 |
9th October, 2017 |
2 |
Reporting Period Of The Subsidiary If Different From The Holding Company''s Reporting Period. |
Same as Holding |
Same as Holding |
Same as Holding |
Same as Holding |
3 |
Reporting Currency And Exchange Rate As On The Last Date Of The Relevant Financial Year In The Case Of Foreign Subsidiaries |
INR |
INR |
INR |
INR |
4 |
Share Capital |
36,25,000 /- |
1,00,000/- |
25,47,0007- |
15,02,700/- |
5 |
Reserves And Surplus |
3,35,39,1787- |
(4,658)/- |
10,29,45,625/- |
4,47,90,466/- |
6 |
Total Assets |
5,18,83,287/- |
32,54,411/- |
10,56,03,729/- |
4,64,60,400/- |
7 |
Total Liabilities |
5,18,83,287/- |
32,54,411/- |
10,56,03,729/- |
4,64,60,400/- |
8 |
Investments |
3,39,85,750/- |
22,97,739/- |
2,24,60,700/- |
2,45,84,405/- |
9 |
Turn Over |
8,14,762/- |
29,048/- |
6,56,089/- |
2,48,000/- |
10 |
Profit / Loss Before Tax |
(1,23,518)/- |
6,979/- |
2,53,224/- |
(4,40,962) |
11 |
Provision For Tax |
70,164 |
65 204/- |
5,189/- |
|
12 |
Profit / Loss After Tax |
(1,93,682)/- |
6,979/- |
1,88,020/- |
4,46,151/- |
13 |
Proposed Dividend |
||||
14 |
Extent Of Shareholding (In Percentage) |
82.76% |
100% |
*90.30% |
53.24% |
* The Company holds 45.15% shareholding directly and 45.15% through one of its subsidiaries.
PART- B ASSOCIATES AND JOINT VENTURES
S.No. |
Name of Associates or Joint Ventures |
Avancer Infrasolution Pvt. Ltd |
Antriksh Stocks & Shares Broker Pvt. Ltd |
Akshat Commoduty Ltd. |
1. |
Last Audited Balance Sheet date |
31st March, 2018 |
31st March, 2018 |
31st March, 2018 |
2. |
Date on which the Associate or Joint Venture was associated or acquired |
13.01.2016 |
31.03.2016 |
18.12.2017 |
3. |
Shares of the Associate or Joint Venture held by the company on the year end: |
Number |
3,200 |
20,000 |
14,25,257 |
|
Amount of Investment in the Associate or Joint Venture |
80,00,0007- |
2,00,000/- |
3,60,59,000/- |
|
Extent of holding (in percentage) |
24.24% |
50% |
24.94 |
|
4. |
Description of how there is significant influence |
Holding of more than 20% of Share capital |
Holding of more than 20% of Share capital |
Holding of more than 20% of Share capital |
5. |
Reason why the associate/joint venture is not consolidated |
|||
6. |
Net worth attributable to shareholding as per latest audited balance sheet |
80,29,817/- |
1,32,30,770/- |
14,48,22,401 |
7. |
Profit or Loss for the year |
4,280/- |
41,628/- |
4,31,425 |
0) |
Considered in consolidation |
1,037/- |
20,814/- |
20,814 |
(ii) |
Not Considered in consolidation |
3,243/- |
20,814/- |
4,10,611 |
For and on behalf of the Board of Directors
Apoorva Leasing Finance and Investment Company Limited
Sd/- |
Sd/- |
Atul Singh Tyagi |
Suresh |
Managing Director |
Director |
DIN-01335008 |
DIN- 07762126 |
Place: Noida |
|
Date: 14th August, 2018 |
Annexure-lll to Directors Report for the year ended 31st March, 2018
FORM NO. AOC -2 (Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014.
Form for Disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub section (1) of section 188 of the Companies Act, 2013 including certain arms length transaction under third proviso thereto.
1. Details of contracts or arrangements or transactions not at Arm''s length basis.
SL. No. |
Particulars |
Details |
a) |
Name (s) of the related party & nature of relationship |
Not Applicable |
b) |
Nature of contracts/arrangements/transaction |
Not Applicable |
c) |
Duration of the contracts/arrangements/transaction |
Not Applicable |
d) |
Salient terms of the contracts or arrangements or transaction including the value, if any |
Not Applicable |
e) |
Justification for entering into such contracts or arrangements or transactions'' |
Not Applicable |
f) |
Date 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 contracts or arrangements or transactions at Arm''s length basis.
S. No |
Name of the Related Party & Nature of relationship |
Nature of Contracts /Arrangements/Transaction |
Duration of the Contracts/arrangements/tra nsaction |
Salient terms of the contracts or arrangements or transaction including the value, if any |
Date of Approval by the Board |
1. |
Anupama Singh Tyagi Director of the company |
Purchase of property |
As per mutual consent |
3rd September 2016 |
For and on behalf of the Board of Directors
Apoorva Leasing Finance and Investment Company Limited
Sd/- |
Sd/- |
Atul Singh Tyagi |
Suresh |
Managing Director |
Director |
DIN-01335008 |
DIN- 07762126 |
Place: Noida |
|
Date: 14th August, 2018 |
Annexure-IV to Director Report for the year ended Sl^March, 2018
Form No. MR-3
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 31st March, 2018
[Pursuant to section 204(1} of the Companies Act, 2013 and rule No.9 of the Companies (Appointment and Remuneration Personnel) Rules, 2014]
To,
The Members,
Apoorva Leasing Finance and Investment Company Limited
We have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by Apoorva Leasing Finance and Investment Company Limited (hereinafter called "the Company"). Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing my opinion thereon.
Based on our verification of the Company''s books, papers, minute books, forms and returns filed and other records maintained by the company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, We hereby report that in our opinion the company has, during the audit period covering the financial year ended on 31st March, 2018, complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:
PARA ONE
We have examined the books, papers, minute books, forms and returns filed and other records maintained by Apoorva Leasing Finance and Investment Company Limited ("the Company") for the financial year ended on 31st March, 2018, according to the provisions of:
(i) The Companies Act, 2013 (the Act) and the rules made hereunder;
(ii) The Securities Contracts (Regulation) Act, 1956 (''SCRA'') and the rules made hereunder;
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed hereunder;
(iv) *Foreign Exchange Management Act, 1999 and the rules and regulations made there under to the extent of Foreign Direct Investment, Overseas Direct Investment and
External Commercial Borrowings; (v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (''SEBI Act''):-
(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
(b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations,2015;
(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009;
(d) The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999;
(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008;
(f) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with client;
(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; and (h) The Securities and Exchange Board of India (Buyback of Securities) Regulations,1998;
* No Event took place under these regulations during the Audit Period.
(vi) I have also examined the Compliances of the Provisions of the following other laws applicable specifically to the Company wherein I have also relied on the Compliance Certificates/declaration issued by the head of the respective department/management in addition to the checks carried out by me and found that company has complied with all the provisions of said Acts except the below mentioned observation in respect of the said Acts.
1. The Minimum wages Act, 1948
2. The Employee''s State Insurance Act, 1948
Observations in Clause fil Para One of Our Report
1. According to information and Explanation and verification of forms and returns maintained by Company, the Company as required under Section 403 paid the prescribed additional fees in case of delayed filing.
2. According to the explanations given to us by the company and as per the management due to its turnover in commodity future and option, the company does not satisfy the conditions required to get registered u/s 45-IAof the Reserve Bank India Act 1934.
3. The Registrar of Companies, NCT of Delhi & Haryana has filed a winding-up petition against the Company U/s 271 of the Companies Act, 2013. The matter is pending before Hon''ble National Company Law Tribunal, New Delhi
PARA SECOND
We have also examined compliance with the applicable clauses of the following:
(j) Secretarial Standards on meetings of the Board of Directors (SS-1) and Secretarial Standards on General Meeting (SS-2) isOsued by Institute of Company Secretaries of India.
(ii) The Listing Regulations entered into by the Company with BSE Ltd.
Based on our verification of the Company''s Books, papers, minutes books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents, and its authorized representatives during the conduct of Secretarial Audit we hereby report that in our opinion during the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above.
We further report that,
The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act.
Adequate notice is given to all directors to schedule the Board Meetings. Agenda and detailed note on agenda were sent at least seven days in advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting. Majority decisions are carried through while the dissenting members'' views are captured and recorded as part of the minutes.
We further report that here are adequate systems and processes in the company commensurate with the size and operations of the company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines.
We further report that during the audit period the company has:
1. Taken the approval of Shareholders in 34th Annual General Meeting of the Company held on 25th September, 2017
(a) Appointment of Ms. Neha Nimja as Independent Director of the Company
(b) Appointment of Mr. Suresh as Independent Director of the Company
(c) Revision of remuneration of Mr. Atul Singh Tyagi, Manging Director.
(d) Approval of the Related Party Transaction for the Financial Year 2017-18
(e) Delegation of power to contribute to the bonafide charitable fund.
Place: New Delhi |
|
Date: 14.08.2018 |
For Dharamveer Dabodia and Associates |
Company Secretaries |
|
CS Dharamveer Dabodia |
|
ACS No. 29365 |
|
CPNo.: 14305 |
Note: This report is to be read with our letter of even date, which is annexed as Annexure-A, and forms as integral part of this report. Annexure A to the Secretarial Audit Report for the Financial Year ending 31st March, 2018.
To
The Members
Apoorva Leasing Finance and Investment Company Limited
1. Maintenance of secretarial record is the responsibility of the management of the Company. Our responsibility is to express an opinion on these secretarial records based on our audit.
2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of the secretarial records. The verification was done on the random test basis to ensure that correct facts are reflected in secretarial records. We believe that the processes and practices, we followed provide a reasonable basis for our opinion.
3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
4. Where ever required, we have obtained the Management representation about the compliance of laws, rules and regulations and happening of events etc.
5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of management. Our examination was limited to the verification of procedures on the random test basis.
6. The Secretarial Audit report is neither an assurance as to the future viability of the company nor of the efficacy or effectiveness with which the management has conducted the affairs of the Company.
Place: New Delhi |
|
Date: 14.08.2018 |
For Dharamveer Dabodia and Associates |
Company Secretaries |
|
CS Dharamveer Dabodia |
|
ACS No. 29365 |
|
CPNo.: 14305 |
Annexure -V to Directors Report for the year ended 31st March, 2018
STATEMENT PURSUANT TO SUB-SECTION (12) OF SECTION 197 READ WITH RULE 5 OF COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES,2014
Remuneration |
Qualification |
Nature of employment |
|||||||
S.No. |
Name |
Designation |
in Rupees |
Exp. |
|
DOJ |
Age |
Last employment |
|
M.Com |
|||||||||
Atul Singh |
(Eco), |
13-02- |
|||||||
1. |
Tyagi |
MDcum CFO |
39,00,000 |
LLB |
25 |
Permanent |
2016 |
53 |
Businessman |
Deepali |
Analystfcommodity |
M.A |
01-05- |
DB International Stock |
|||||
2. |
Srivastava |
Market) |
3,40,000 |
6 |
Permanent |
2016 |
27 |
Broker Ltd. |
|
01-04- |
|||||||||
3. |
Pooja Soni |
IT Support Manager |
3,03,000 |
B.Sc (IT) |
6 |
Permanent |
2016 |
30 |
Ace Corporation |
High |
|||||||||
School |
01-04- |
||||||||
4. |
Sajid Khan |
Executive |
2,49,530 |
7 |
Permanent |
2015 |
51 |
HMT |
|
Senior |
|||||||||
Sec |
01-04- |
||||||||
5. |
Reeta Sahni |
Assistant (Accounts |
2,31,000 |
1 |
Permanent |
2016 |
35 |
Nil |
|
Senior |
|||||||||
Sharda |
Sec |
01-04- |
|||||||
6. |
Prashad Soni |
Runner |
2,22,450 |
17 |
Permanent |
2015 |
40 |
Businessman |
|
B.com |
|||||||||
(H), CS |
31-07- |
||||||||
7. |
Nikita Rohilla |
Company Secretary |
2,10,792 |
1.5 |
Permanent |
2017 |
26 |
SPN Legal, Advocates |
|
Senior |
|||||||||
Sec |
01-04- |
||||||||
8. |
Pooja Gambhir |
Assitant Banking |
2,02,167 |
3 |
Permanent |
2016 |
41 |
Om Logistics |
|
High |
|||||||||
11-07- |
|||||||||
School |
|||||||||
9. |
Lalit Kumar |
Office Assistant |
1,81,253 |
11 |
Permanent |
2016 |
38 |
Businessman |
|
B.Com |
01-04- |
||||||||
10. |
Azad Saifi |
Senior Dealer |
1,75,000 |
11 |
Permanent |
2017 |
31 |
Pace Financial Services |
|
B.Com |
Permanent |
||||||||
11. |
Khalid Sartaj |
Senior Dealer |
175000 |
9 |
2017 |
32 |
Pace Financial Services |
||
B.Com |
Permanent |
||||||||
12. |
Pankaj Jain |
Technical Analyst |
1,75,000 |
3 |
2016 |
31 |
J P Commodity Ltd. |
Mar 31, 2015
Dear Members,
The Directors have pleasure in presenting before you the 32nd Annual
Report on the business and operations of the Company alongwith the
Audited Financial Statement for the financial year ended 31st March,
2015.
FINANCIAL HIGHLIGHTS:
Financial Result of the Company for the year under review alongwith the
figures for previous year are as follows:
(in Rs)
March 31, 2015 March 31, 2014
Revenue 20,610,762 46,476,349
Profit before Depreciation 1,105,053 629,376
Depreciation and Amortization expense 20,198 92,524
Profit/Loss before Tax 1,084,855 533,852
Current Tax 240,686 132,949
Earlier Year Tax - (156)
Deferred Tax 7,763 (13,000)
Profit/Loss after Tax 836,406 414,061
OPERATIONAL PERFORMANCE:
During the financial year 2014-15, the Company has recorded revenue of
Rs 20,610,762/-. The Company has earned net profit of Rs
8,36,406/-during the year as compared to profit Rs 414,061/-in the last
year. The Directors are optimistic about future performance of the
Company.
SUBSIDIARY COMPANIES:
The Company does not have anysubsidiary company.
DIVIDEND:
As the company kept the profits for investment in better projects it
regret not to recommend any dividend. But the directors are hopeful
better result in ensuring future.
DEPOSITS:
During the year, the Company has not invited/accepted any deposits
under Companies Act, 2013.
NO. OF BOARD MEETINGS HELD:
The Board of Directors duly meets 16 times during the financial year
from 1st April, 2014 to 31st March, 2015. The dates on which meetings
were held are as follows:
18th April, 2014, 27th May, 2014, 25th June, 2014, 24th July, 2014, 8th
August, 2014, 26th August, 2014,1st September, 2014, 29th September,
2014, 28th October, 2014, 7th November, 2014,1st December, 2014, 12th
January, 2015, 22nd January, 2015, 23rd January, 2015, 20th February,
2015 and 2nd March, 2015.
BOARD OF DIRECTORS:
APPOINTMENT OF MANAGING DIRECTOR:
Mr. Bharat Bhusan, Director of the Company being appointed as Managing
Director of the Companysubject to approval of members of the Company.
CONFIRMATION OF CHANGE IN DESIGNATION OF DIRECTOR:
In accordance with the provisions of the Companies Act, 2013 and the
Articles of Association of the Company, Change in Designation of Mr.
Deepak Verma as an Independent Director by the Board w.e.f 02nd March,
2015, subject to approval of shareholders. Your Directors recommend the
change in designation of Mr. Deepak Verma as an Independent Director as
proposed in the notice for the Annual General Meeting.
APPOINTMENT OF INDEPENDENT DIRECTORS:
In accordance with the provisions of the Companies Act, 2013 and the
Articles of Association of the Company, Mrs. Roopa Devi Murolia
appointed as an Additional Director by the Board and subsequently your
Directors recommend the appointment of Mrs. Roopa Devi Murolia as an
Independent Director as proposed in the notice for the Annual General
Meeting.
Your Directors state that Mrs. Roopa Devi Murolia who is proposed to be
appointed as an Independent Director possess appropriate skills,
expertise and knowledge and are qualified for appointment as an
Independent Director.
RE-APPOINTMENTOF DIRECTORS:
Mr. Atul Singh Tyagi, Director of the Company, is liable to retire by
rotation at the ensuing Annual General Meeting and being eligible,
offer himself for re-appointment. The Board of Directors recommends
their re-appointment.
CONFIRMATION OF APPOINTMENT:
In accordance with the provisions of the Companies Act, 2013 and the
Articles of Association of the Company, Ms. Deepali appointed as an
Additional Director by the Board and she shall hold office only upto
date of this Annual General Meeting and being eligible offer herself
for re- appointment as Director.
DECLARATION BY INDEPENDENT DIRECTORS:
The Independent directors have submitted their disclosure to the Board
that they fulfill all the requirements as to qualify for their
appointment as an Independent Director under the provisions of the
Companies Act, 2013 as well as Clause 49 of the Listing Agreement and
annexed herewith to this report marked as Annexure-I.
BOARD EVALUATION:
Pursuant to the provisions of the Companies Act, 2013 and Clause 49 of
the Listing Agreement, the Board has carried out an annual performance
evaluation of its own performance, the directors individually as well
as the evaluation of the working of its Audit, Nomination &
Remuneration, Stakeholders' Relationship Committee and Risk Management
Committees. The manner in which the evaluation has been carried out has
been explained in the Corporate Governance Report.
KEY MANAGERIAL PERSONNEL:
The following employees were designated as whole-time key managerial
personnel by the Board of Directors during the year under review:
(i) Mr. Bharat Bhusan, Managing Director
(ii) Ms. Kashni Mahajan, Company Secretary
COMPANY SECRETARY:
Ms. Kashni Mahajan a Associate member of the ICSI, Delhi has been
appointed by the Board of Directors of the Company as Company Secretary
of the Company with effect from 11th March, 2015.
CHANGE IN REGISTERED OFFICE:
During the year under review, the Company has filed E-Form INC-22 under
section 12 of the Companies Act, 2013 to the Registrar of Companies,
NCT of Delhi and Haryana, for shifting of Registered Office of our
Company within the local limits of Gurgaon and Haryana without change
in the Jurisdiction of the Registrar of Companies, NCT of Delhi and
Haryana from 104-A,
Single Storey, Ramesh Nagar, New Delhi-110015 to 2127-28, 3rd Floor,
Block- K, Gali No. 58, Naiwala, Gurdwara Road, Karol Bagh New
Delhi-110005 w.e.f. 15th April, 2015.
AUDITORS OBSERVATIONS:
The observations made by Auditors with reference to notes to account
are self explanatory and need no comments.
AUDITORS:
STATUTORY AUDITORS:
To Appoint auditor M/s Vinod Vishal & Co. as Statutory auditors of the
company for a period of 5 years commencing from the conclusion of this
meeting until, the conclusion of 37th Annual General Meeting subject to
ratification at every Annual General Meeting on such remuneration as
may be fixed in this behalf by the Board of Directors of the Company. A
Certificate from the Auditors has been received to the effect that
their appointment, if made, would be within the limits prescribed under
section 141(3)(g) of the Companies Act, 2013 and that they are not
disqualified to be appointed as statutory auditor in terms of the
provisions of the proviso to section 139(1), section 141(2) and section
141(3) of the companies Act, 2013, and the provisions of Companies
(Audit and Auditors) Rules, 2014.
During the year M/s RDAK & Associates (FRN-019502N), Chartered
Accountants of the Company has shown its desire to discontinue its
services as statutory auditors of the Company, due to its
pre-occupation
AUDITORS' REPORT:
The Auditors' Report is annexed herewith marked as Annexure-II and
forms part of the Annual Report.
SECRETARIAL AUDIT AND THE APPOINTMENT OF THE SECRETARIAL AUDITORS:
The Company has appointed Mr. Deepak Dewan Singh proprietor of M/s
Deepak Singh & Associates, Company Secretaries to hold the office of
the Secretarial Auditors and to conduct the Secretarial Audit Report
and the Secretarial Audit Report is annexed herewith marked as
Annexure-III to this report in Form No. MR-3.
There is a qualification in the report that Company did not appoint
Chief Financial Officer. The Management clarified that, it is in the
search of suitable candidate for the post of Chief Financial Officer.
APPOINTMENT OF INTERNAL AUDITOR:
The Company has appointed Mr. Naveen Kumar as an Internal Auditor of
the Company for the financial year 2014-15. Mr. Naveen Kumar placed the
internal audit report to the Company which is self explanatory and need
no comments.
EXTRACT OF THE ANNUAL RETURN:
The Extract of the Annual Return for the financial year 2014-15 is
being attached with the Directors report in Form No. MGT-9 marked as
Annexure-IV.
PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS:
Details of Loans, Guarantees and Investment covered under the
provisions of section 186 of the Companies Act, 2013 are given in the
Notes to the Financial Statements.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
The particulars of contracts or arrangements with related parties for
the financial year 2014-15 is annexed herewith to the financial
statements in Form No. AOC -2.
LISTING OF SHARES:
Application for listing ofshares ofthe Company i.e. 19,974,900 Equity
Shares of Rs. 10/- each has been made at BSE Limited as per BSE Direct
Listing Norms and the shares are also listed on DSE Limited (DSE) and
Ahmedabad Stock Exchange Limited (ASE) but as per SEBI circular No.
WTM/PS/45/MRD/DSA/NOV/2014 dated 19th November, 201 4, DSE has been
derecognized as Stock Exchange.
DEMATERILISATION OF SHARES:
The Company has connectivity with NSDL & CDSL for dematerialization of
its equity shares. The ISIN No. INE217S01014 has been allotted for the
Company. Therefore, the investors may keep their shareholding in the
electronic mode with their Depository Participates. 70.23% of the
Company's Paid-up Share Capital is in dematerialized form as on 31st
March, 2015 and balance 29.77% is in physical form.
DIRECTORS' RESPONSIBILITY STATEMENT:
In accordance with the provision of section 134(5) of the Companies
Act, 2013 the Board confirm and submit the Director's Responsibility
Statement:
* in the preparation of the Annual Accounts, the applicable Accounting
Standards have been followed;
* The Directors had selected such accounting policies and applied them
consistently and made judgments and estimates that were 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 ofthe
Company for the year under review;
* The Directors have taken proper & sufficient care of the maintenance
of adequate accounting records in accordance with the provisions of the
Companies Act, 2013 for safeguarding the assets of the Company and for
prevention & detecting fraud & other irregularities;
* The Directors have prepared the accounts for the year ended 31st
March, 2015 on a going concern basis.
* The directors had laid down internal financial controls to be
followed by the Company and that such internal financial controls are
adequate and were operating effectively.
* The directors had devised proper system to ensure compliance with the
provision of all applicable laws and that such systems were adequate
and operating effectively.
DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM:
In pursuant to the provision of section 177 (9) & (10) of the Companies
Act, 2013, The Company has formulated a Whistle Blower Policy to
establish a vigil mechanism for Directors and employees of the Company
to report concerns about unethical behavior, actual or suspected fraud
or violation of the company's code of conduct or ethics policy. The
Whistle Blower Policy is available on the website of the Company.
CORPORATE GOVERNANCE:
As per Clause 49 of the Listing Agreement with Stock Exchanges, a
report on Corporate Governance together with the Auditors' Certificate
regarding the compliance of conditions of Corporate Governance forms
part of the Annual Report.
MANAGEMENT DISCUSSION ANALYSIS REPORT:
The Management Discussion and Analysis Report for the year under
review, as stipulated under Clause 49 of the Listing Agreement with the
Stock Exchanges in India, is presented in a separate section which
forms part of the Annual Report.
HEALTH. SAFETY AND ENVIRONMENT PROTECTION:
The Company has complied with all the applicable environmental laws and
labour laws. The Company has been complying with the relevant laws and
has been taking all necessary measures to protect the environment and
maximize worker protection and safety.
SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION. PROHIBITION AND
REDRESSAL) ACT. 2013:
The Company has in place an Anti Sexual Harassment Policy in line with
the requirements of the Sexual Harassment of Women at the Workplace
(Prevention, Prohibition & Redressal) Act, 2013. Internal Complaints
Committee (ICC) has been set up to redress complaints received
regarding sexual harassment. All employees (permanent, contractual,
temporary, trainees) are covered under this policy.
The following is a summary of sexual harassment complaints received and
disposed off during the year 2014-15.
* No of complaintsreceived : 0
* No of complaintsdisposed off : N.A.
DEVELOPMENT & IMPLEMENTATION OF RISK MANAGEMENT POLICY:
The assets of the Company are adequately insured against the loss of
fire, riot, earthquake, terrorism, loss of profits, etc other risks
which considered necessary by the management. The Company has been
addressing the various risks impacting the Company and policy of the
Company on risk management is provided elsewhere in this Annual Report
in Management Discussion and Analysis.
PARTICULARS OF EMPLOYEES:
None of the employee was drawing in excess of the limits by the
Companies Act, 2013 and rules made there under which needs to be
disclosed in the directors report.
CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE
EARNINGS & OUTGO:
The Company does not fall under any of the industries covered by the
Companies (Accounts) Rules, 2014. Hence, the requirements of disclosure
in relation to the conservation of energy, technology absorption,
foreign exchange earnings & outgo are not applicable to it.
Particulars Current Year 2014-15 Previous Year 2013-2014
A. Conservation of Energy Nil Nil
B. TechnologyAbsorption Nil Nil
C. Foreign Exchange Earnings Nil Nil
& Outgo
ACKNOWLEDGEMENT:
The Directors are thankful to the Bankers, Customers, Dealers, and
Vendors for their valuable support and assistance.
The Directors wish to place on record their appreciation of the
commendable work done, dedication and sincerity by all the employees of
the Company at all levels during the year under review.
The Company will make every effort to meet the aspirations of its
shareholders and wish to sincerely thank them for their whole hearted
co-operation and support at all times.
For and on behalf of the Board of Directors
Place: New Delhi Bharat Bhusan
Date: 24.08.2015 Chairman & Managing Director
DIN:00538006
Mar 31, 2014
Dear Members,
Your Directors have pleasure in presenting the Annual Report together
with the Audited Accounts for the year ended March 31,2014.
FINANCIAL HIGHLIGHTS
Year ended Year Ended
March 31, 2014 March 31,2013
Revenue 46,476,349.00 5,534,942.00
Profit before Depreciation 626,377.00 229,192.00
Depreciation and Amortization expense 92,524.00 119,544.00
Profit/Loss before Tax 533,853.00 109,648.00
Current Tax 132,949.00 21,050.00
Earlier Year Tax (156.00) (23,956.00)
Deferred Tax (13,000.00) 13,000.00
Profit/Loss after Tax 414,061.00 (99,554.00)
GENERAL CORPORATE MATTERS
The company is currently engaged in financial services, sale & purchase
of share & securities. The year under report has been difficult for the
Stock Market as the market behaved with great volatility and Market
Index showed movement both upward and downward frequently. Moreover,
payment problems affecting Stock Market also caused considerable damage
to the investor's confidence in the market. It also affected the
overall turnover in the Stock Market The Stock Market Index as on 31st
March 2014 were at low levels as a result of which there was low
valuation of stock held by the company at the end of the year. The
company also intends to make expansion in providing loans & advances
and finance to different persons, firms & corporate bodies.
CORPORATE GOVERNANCE
A separate section on Corporate Governance is included in the Annual
Report and the certificate from the Company's Auditors confirming the
compliance of conditions of Corporate Governance as stipulated in
Clause 49 of the listing agreement with the Stock Exchanges is annexed
thereto.
DIRECTOR'S RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies (Amendment) Act, 2000,
the Directors confirm that:
1. In the preparation of the annual accounts, the applicable accounting
standards have been followed;
2. appropriate accounting policies have been selected and applied
consistently, and they have 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 as at March 31, 2014 and of the Profit and
Loss Statement for the year ended March 31, 2014.
3. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
4. The annual accounts have been prepared on a going concern basis.
FIXED DEPOSITS
The Company has not received/ invited any fixed deposits during the
year.
PARTICULARS OF EMPLOYEES
The information required under section 217(2A) of the Companies Act,
1956 and the rules framed there under is not applicable to the Company.
Your Directors wish to thank the Financial Institutions, Bankers,
Customers, and Shareholders for their continued support and
co-operation.
By Order of the Board
APOORVA LEASING FINANCE & INVESTMENT COMPANY LIMITED
Avoorva Leasing ttu.cQ Inv.
Pradeep Kumar Sharma AurifeateMtousanÂ
Director Director
DIN - 00537298 DIN: 00538006
Date: 26.08.2014
Place: New Delhi
Mar 31, 2013
Dear Members,
The Directors have pleasures in presenting the 30st Annual Report of
the Company together with the audited accounts for the year ended 31st
March 2013.
FINANCIAL RESULTS;
The Business of the Company during the year under review resulted in a
Profit of Rs. 109647.50/- (Profit of Rs.202. 171/- in previous year).
GENERAL CORPORATE MATTERS
The company is currently engaged in sale and purchase of shares &
securities. The year under report has been difficult for the Stock
Market as the market behaved with great volatility and Market Index
showe movement both upward and downward frequently. Moreover, payment
problems affecting Stock Market also caused considerable damage to the
investor's confidence in the market. It also affected the overall
turnover in the Stock Market. The Stock Market Index as on 31st March
2013 were at low levels as a result of which there was low valuation of
stock held by the company at the end of the year. The company also
intends to make expansion in providing loans and advances and finance
to different persons, firms and bodies corporate
CORPORATE GOVERNANCE
Your company has always striven to incorporate appropriate standard for
good corporate governance and has been practicing these principles
since inception. Corporate Governance has evolved in the company over
the years, not only on account of regulatory requirements but also on
account of sound management values for enhancing and meeting
stockholder's expectations. The company is taking adequate steps in
ensure that all mandatory provisions of Corporate Governance as
prescribed under the Listing Agreement of the Stock Exchange are
complied within the time schedule laid down by Stock Exchange.
GENERAL INFORMATION
The shares of your company are listed on the Delhi Stock Exchange;
Pursuant to the SEB1 Guidelines the company's Equity Share has been
under process to be converted in to electronic mode.
DIVIDEND
Your Directors do not recommend Declaration of Dividend for the year
under Report on account of inadequacy of profits of the company.
DIRECTORS
Mr. Bharat Bhusan Director, Retire by Rotation and being eligible,
offer himself for re-appointment at the ensuing Annual General Meeting
DIRECTORS' RESPONSIBILITY STATEMENT
As required under section 217(2AA). which was introduced by the Company
(Amendment) Act, 1956 your Director confirms that; -
a) In the preparation of the annual accounts, the applicable accounting
standards have been followed.
The Director 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 fail view o state of affairs of the
company as on 31st March, 20.3 and of the Profits of the Company of the
year ended 31st March, 2013.
b) The Director had taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provision of the
Companies Act, 1956 for safeguarding the assets of the company and
preventing and detecting fraud and other irregularities.
c) The annual accounts are prepared on a going concern basis.
AUDITORS
To re-appoint Auditors of the company & to decide about their
remuneration. The retiring Auditor M/S RDAK & Associates, Chartered
Accountants, Being eligible offer himself for re-appointment.
AUDITORS REPORT
The notes to the accounts referred to in the auditors report are
self-explanatory and therefore do no. call for any further comments.
AUDIT COMMITTEE
Present members of the Audit Committee are Mr. Bharat Bhushan, Mr.
Pradeep Kumar Sharma and Mr Deepak Verma all the members of the
Committee are non-executive and independent directors. the members of
the Committee are having financial and accounting knowledge. Mr.
Pradeep Kuma Sharma is the chairman of the Committee and quorum of the
Committee is two members. The company secretary acts as secretary to
the Committee. The role company terms of reference, the author,ty and
power the committee is in conformity with the requirements of the
Compan.es Act. 1956.
The Committee met four times during the year under review.
The Committee also met prior to finalisation of accounts for the year
ended 31st March 2013.
PARTICULARS OF EMPLOYEES
There are no employees in receipt of remuneration in excess of amount
specified in Section 217(2A) read with Companies (Particular of
employees) rules 1975 as amended.
SUBSIDAIARY COMPANIES
The Company does not have any subsidiary company.
FIXED DEPOSITS
The Company has not accepted any deposits from the public, within the
meaning of Section 58 - A of the Companies Act, 1956 and the Companies
(Acceptance of Deposit) Rules. 1975 during the year under review.
LI3STING INFORMATION
The Company shares are listed with Delhi Stock Exchange Ltd., Delhi.
Your Company has paid Annual listing fees up to date and there are no
arrears.
CASH FLOW STATEMENT
In conformity with the provisions of Clause 49 of the Listing Agreement
with the Stock Exchange, the Cash Flow Statement for the year ended
31st March 2013 is annexed hereto.
STATUTORY INFROMATION
The Company's (Disclosure of particulars in the report of Board of
Directors) Rules 1988. requites the disclosures of particulars
regarding conservation of energy in Form A and technology Absorption in
Form B prescribed by the rules. The requirement of Forms A and B are
not applicable, as the company is not manufacturing company. The
company had no foreign Exchange out-go or inflow during the year.
ACKNOWLEDGEMENT
Your Directors expresses their sincere appreciation for the
co-operation, patronage, assistance and guidance by their business
associates bankers and clients.
The Board members also place on record their appreciation of the
service rendered by the dedicated employees of the company.
The Board also beholden to you all, partners in our enterprises, tor
your confidence, encouragement and unstinting support.
FOR AND ON BEHALF OF THE BOARD
FOR APOORVA LEASING FINANCE AND INVESTMENT COMPANY LTD.
Place: New Delhi CHAIRMAN
Date: 13.05.2013
Mar 31, 2012
Dear Members,
The Directors have pleasures in presenting the 29th Annual Report of
the Company together with the audited accounts for the year ended 31st
March 2012.
FINANCIAL RESULTS
The Business of the Company during the year under review resulted in a
Profit of Rs. 1,39,691,43/- (Loss of Rs,7,37,895.50/- in previous
year).
GENERAL CORPORATE MATTERS
The company is currently engaged in sale and purchase of shares &
securities. The year under report has been difficult for the Stock
Market as the market behaved with great volatility and Market Index
showed movement both upward and downward frequently. Moreover, payment
problems affecting Stock Market also caused considerable damage to the
investor's confidence in the market. It also affected the overall
turnover in the Stock Market. The Stock Market Index as on 31st March
2012 were at low levels as a result of which there was low valuation of
stock held by the company at the end of the year. The company also
intends to make expansion in providing loans and advances and finance to
different persons, firms and bodies corporate
CORPORATE GOVERNANCE
Your company has always striven to incorporate appropriate standard for
good corporate governance and has been practicing these principles
since inception. Corporate Governance has evolved in the company over
the years, not only on account of regulatory requirements but also on
account of sound management alues for enhancing and meeting
stockholder's expectations. The company is taking adequate steps in
ensure that all mandatory provisions of Corporate Governance as
prescribed under the Listing Agreement of the Stock Exchange are
complied within the time schedule laid down by Stock Exchange,
GENERAL INFORMATION
The shares of your company are listed on the Delhi Stock Exchange;
Pursuant to the SEBI Guidelines the company's Equity Share has been
under process to be converted in to electronic mode.
DIVIDEND
Your Directors do not recommend Declaration of Dividend for the year
under Report on account of inadequacy of profits of the company.
DIRECTORS
Mr. Bharat Bhusan Director, Retire by Rotation and being eligible,
offer himself for re-appointment at the ensuing Annual General Meeting
DIRECTORS' RESPONSIBILITY STATEMENT
As required under section 217(2 AA), which was introduced by the
Company (Amendment) Act. 1956 your Director confirms that: -
a) In the preparation of the annual accounts, the applicable accounting
standards have been followed.
The Director 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 as on 31st March, 2012 and of the Profits of the Company of
the year ended 31st March, 2012.
b) The Director had taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provision of the
Companies Act, 1956 for safeguarding the assets of the company and
preventing and detecting fraud and other irregularities.
c) The annual accounts are prepared on a going concern basis.
AUDITORS
To re-appoint Auditors of the company & to decide about their
remuneration. The retiring Auditor M/S RDAK & Associates, Chartered
Accountants, Being eligible offer himselves for re-appointment.
AUDITORS REPORT
The notes to the accounts referred to in the auditors report are
self-explanatory and therefore do not call for any further comments.
AUDIT COMMITTEE
Present members of the Audit Committee are Mr. Bharat Bhushan, Mr.
Pradeep Kumar Sharma and Mr. Deepak Verma all the members of the
Committee are non-executive and independent directors. All the members
of the Committee are having financial and accounting knowledge. Mr.
Pradeep Kumar Sharma is the chairman of the Committee and quorum of the
Committee is two members. The company secretary acts as secretary to
the Committee. The role company terms of reference, the authority and
power the committee is in conformity with the requirements of the
Companies Act, 1956.
The Committee met four times during the year under review.
The Committee also met prior to finalisation of accounts for the year
ended 31st March 2012.
PARTICULARS OF EMPLOYEES
There are no employees in receipt of remuneration in excess of amount
specified in Section 217(2A) read with Companies (Particular of
employees) rules 1975 as amended.
SUBSIDIARY COMPANIES
The Company does not have any subsidiary company.
FIXED DEPOSITS
The Company has not accepted any deposits from the public, within the
meaning of Section 58 - A of the Companies Act, 1956 and the Companies
(Acceptance of Deposit) Rules, 1975 during the year under review.
LISTING INFORMATION
The Company shares are listed with Delhi Stock Exchange Ltd., Delhi.
Your Company has paid Annual listing fees up to date and there are no
arrears.
CASH FLOW STATEMENT
In conformity with the provisions of Clause 49 of the Listing Agreement
with the Stock Exchange, the Cash Flow Statement for the year ended
31st March 2012 is annexed hereto.
STATUTORY INFROMATION
The Company's (Disclosure of particulars in the report of Board of
Directors) Rules 1988, requires the disclosures of particulars
regarding conservation of energy in Form A and technology Absorption in
Form B prescribed by the rules. The requirement of Forms A and B are
not applicable, as the company is not manufacturing company. The
company had no foreign Exchange out-go or inflow during the year.
ACKNOWLEDGEMENT
Your Directors expresses their sincere appreciation for the
co-operat.on, patronage, assistance and guidance by their business
associates bankers and clients.
The Board members also place on record their appreciation of the
service rendered by the dedicated employees of the company.
The Board also beholden to you all, partners in our enterprises, for
your confidence, encouragement and unstinting support.
FOR AND ON BEHALF OF THE BOARD
FOR APOORVA LEASING FINANCE AND INVESTMENT COMPANY LTD.
Place; New Delhi CHAIRMAN
Date: 03.09.2012
Mar 31, 2011
Dear Members,
The Directors have pleasures in presenting the 28 Annual Report of the
Company together with the audited accounts for the year ended 31st
March 2011.
FINANCIAL RESULTS:
The Business of the Company during the year under review resulted in a
Loss of Rs.7,37,895/- (Profit of Rs.82,225/- in previous year).
GENERAL CORPORATE MATTERS
The company is currently engaged in sale and purchase of shares &
securities. The year under report has been difficult for the Stock
Market as the market behaved with great volatility and Market Index
showed movement both upward and downward frequently. Moreover, payment
problems affecting Stock Market also caused considerable damage to the
investor s confidence in the market. It also affected the overall
turnover in the Stock Market. The Stock Market Index as on 31st March
2011 were at low levels as a result of which there was low valuation of
stock held by the company at the end of the year. The company also
intends to make expansion in providing loans and advances and finance to
different persons, firms and bodies corporate
CORPORATE GOVERNANCE
Your company has always striven to incorporate appropriate standard for
good corporate governance and has been practicing these principles
since inception. Corporate Governance has evolved in the company over
the years, not only on account of regulatory requirements but also on
account of sound management values for enhancing and meeting
stockholder's expectations. The company is taking adequate steps in
ensure that all mandatory provisions of corporate Governance as
prescribed under the Listing Agreement of the Stock Exchange are
complied within the time schedule laid down by Stock Exchange.
GENERAL INFORMATION
The shares of your company are listed on the Delhi Stock Exchange;
Pursuant to the SEBI Guidelines the company's Equity Share has been
under process to be converted in to electronic mode.
DIVIDEND:
Due to the fact that the Company incurred loss during the year there
for your directors are not in a position to recommend any dividend. But
the directors are hopeful better result in ensuring future.
DIRECTORS' RESPONSIBILITY STATEMENT
As required under section 2 7(2AA), which was introduced by the Company
(Amendment) Act, 2000 your Director confirms that: -
a) In the preparation of the annual accounts, the applicable accounting
standards have been followed.
The Director had selected such accounting policies and applied them
consistency and made judements and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the company as on 31st March, 2011 and of the Loss of the Company of
the year ended 31st March, 2011.
b) The director had taken proper d sufficient cart for the maintenance
of adequate accounting records in accordance with the provision of the
Companies Act, 1956 for safeguarding the assets of the company and
preventing and detecting fraud and other irregularities.
c) The annual accounts are prepared on a going concern basis.
AUDITORS' REPORT
The notes to the accounts referred to in the auditors report are
self-explanatory and therefore do not call for any further comments.
AUDITORS'
To re-appoint Auditors of the company & to decide about their
remuneration. The retirial Auditor M/S RDAK Associates, chartered
Accountants, Being eligible offer themselves for re-appaintment Mr.
Surendra Kumar Jain.
AUDIT COMMITTEE
Present members of the Audit Committee are Mr. Surendra Kumar Jain, Mr.
Bharat Bhushan, Mr. Pradeep Kumar Sharma and Mr. Kushal Singh Rana all
the members of the Committee are non- executive and independent
directors. All the members of the Committee are having financial and
accounting knowledge. Mr. Surendra Kumar Jain is the chairman of the
Committee and quorum of the Committee is two members. The company
secretary acts as secretary to the Committee. The role company terms of
reference, the authority and power the committee is in conformity with
the requirements of the Companies Act, 1956.
The Committee met four times during the year under review.
The Committee also met prior to finalisation of accounts for the year
ended 31st March 2011
PARTICULARS OF EMPLOYEES:
There are no employees in receipt of remuneration in excess of amount
specified in Section 217(2A) read with Companies (Particular of
employees ) rules 1975 as amended.
SUBSIDIARY COMPANIES
The Company does not have any subsidiary company.
FIXED DEPOSITS:
The Company has not accepted any deposits from the public, within the
meaning of Section 58 Â A of Companies Act, 1956 and the Companies
(Acceptance of Deposit) Rules, 1975 during the year under review.
STATURTORY INFROMATION
The Company's (Disclosure of particulars in the report of Board of
Directors) Rules 1988, requires the disclosures of particulars
regarding conservation of energy in Form A and technology Absorption in
Form B prescribed by the rules. The requirement of Forms A and B are
not applicable, as the company is not manufacturing company. The
company had no foreign Exchange out-go or inflow during the year
ACKNOWLEDGEMENT:
Your Directors express their sincere appreciation for the co-operation,
patronage, assistance and guidance by their business associates bankers
and clients.
The Board members also place on record their appreciation of the
service rendered by the dedicated employees of the company.
The Board also beholden to you all, partners in our enterprises, for
your confidence, encouragement and unstinting support.
FOR AND ON BEHALF OF THE BOARD
FOR APOORVA LEASING FINANCE AND INVESTMENT COMPANY LTD,
CHAIRMAN
Place : New Delhi
Date : 11.06.2011