Mar 31, 2015
Dear Members,
The Directors have pleasure in presenting their 23rd Annual Report on
the business and operations of the Company and the accounts for the
Financial Year ended March 31, 2015.
Financial summary or hiehlights/Performance of the Company (Standalone)
The Board's Report shall be prepared based on the stand alone financial
statements of the company.
Rs. In Lacs
Particulars 2014-2015 2013-14
Gross Income 99.51 0.00
Profit Before Interest and (39.66) (13.07)
Depreciation
Finance Charges 0.03 0.02
Provision for Depreciation 0.27 1.35
Net Profit Before Tax (39.96) (14.44)
Provision for Tax 0 0
Net Profit After Tax (39.96) (14.44)
Tax on proposed Dividend 0 0
Transfer to General Reserve 0 0
Brief description of the Company's working during the vear/State of
Company's affair
During the year under review the Company has total income of Rs. 99.51
(in lacs) as against previous year Rs. Nil, the same is on account of
sales of its project of which the possession is handed over. However
the company has posted net loss of Rs. 39.96 Lacs as against previous
year loss of Rs. 14.44 Lacs, the same is due to decrease in company
inventory.
Dividend
Due to losses your directors regret to declare any dividend for the
year under review.
Unclaimed Dividend
There is no balance lying in unpaid equity dividend account.
Share Capital
There is no change in the share capital of the Company during the year.
Directors and Key Managerial Personnel
Mr. S. Vaidyanathan, Director retire by rotation at the forthcoming
Annual General Meeting and being eligible, offer himself for
reappointment, further during the year Mr. Nrupesh J Shah, Mr.
Sanjaykumar M Lodha and Mr. Jitendra V Jain were appointed as
additional director, you are requested to re-appoint them as regular
director, beside Mr. Sandip Lavarde has been appointed as Chief
Financial Officer of the Company with effect from 15th February, 2015.
Further during the year Ms. Amita Vishwavakarma also joined the board
as additional director in order to meet the lady director requirement,
however she has been resigned with effect from 17th July, 2015.
Particulars of Employees
In terms of the provisions of Section 197 (12) of the Act read with
Rules 5(1) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, a statement showing the details required
therein forms part of this report. Having regard to the provisions of
Section 136(1) read with the its relevant provision of the Companies
Act, 2013, the Annual Report excluding the aforesaid information is
being sent to the members of the Company. The said information is
available for inspection at the Registered office of the Company during
working hours and any member interested in obtaining such information
may write to the Company and the same will be furnished without any fee
and free of cost. In terms of the requirement of Rule 5 (2) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014, none of the employees draw salary in excess of Rs. 5 Lacs p.m. or
Rs. 60 Lacs p.a.
Meetings
A calendar of Meetings is prepared and circulated in advance to the
Directors. During the year 10 Board Meetings and Four Audit Committee
Meetings were convened and held. 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.
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 and Compliance Committees. The manner in which the
evaluation has been carried out has been explained in the Corporate
Governance Report.
Remuneration Policy
The Board has, on the recommendation of the Nomination & Remuneration
Committee framed a policy for selection and appointment of Directors,
Senior Management and their remuneration. The Remuneration Policy is
stated in the Corporate Governance Report.
Managerial Remuneration:
Disclosures pertaining to remuneration and other details as required
under Section 197(12) of the Companies Act, 2013, read with Rule 5(1)
of the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014 are provided in the Annual Report. In terms of the
provisions of Section 197(12) of the Companies Act, 2013, read with
Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, a statement showing the names and
other particulars of the employees drawing remuneration in excess of
the limits set out in the said rules are provided in the Annual Report.
Having regard to the provisions of the first proviso to Section 136(1)
of the Companies Act, 2013 and as advised, the Annual Report excluding
the aforesaid information is being sent to the members of the Company.
The said information is available for inspection at the registered
address of the company during working hours and any member interested
in obtaining such information may write to the designated officer and
the same will be furnished on request.
Details of Sabsidiary/Joint Ventures/Associate Companies
The company doesn't have any subsidiary, joint venture and associates
companies.
Auditors
The Auditors, M/s Gupta Shyam & Co., Chartered Accountants, Mumbai
retire at the ensuing Annual General Meeting and, being eligible, offer
themselves for reappointment for a period of three years from the
conclusion of this Annual General Meeting [AGM] till the conclusion of
25th AGM.
Auditors Reports
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.
Disclosure about Cost Audit
As per the Cost Audit Orders, Cost Audit is not applicable to the
Company's construction business for the FY 2015-16.
Secretarial Audit Report
In terms of Section 204 of the Act and Rules made there under, M/s. P.
D. Pandya & Associates, Practicing Company Secretary have been
appointed Secretarial Auditors of the Company. The report of the
Secretarial Auditors is enclosed as Annexure II to this report. The
report is self-explanatory and do not call for any further comments.
There are some adverse remarks in the report and their explanation as
per the management are enclosed herewith.
Form for Appointment of Internal Auditor : Regarding not filing e-Form
MGT-14 for internal auditor appointment, the Company will file the same
at the earliest.
Default in Annual Fining for the Financial Year 2013-14: Regarding
default in non filing of annual compliances for the financial year
2013-14, the Company will file the same at the earliest.
Form for Appointment of Statutory Auditor : Regarding not filing the
e-Form ADT-1 for appointment of statutory auditor, the Company will
file the same at the earliest.
Appointment of Company Secretary : The Company has tried to appoint the
same but unable to find out the desirable candidate for the same,
however company will appoint the same in short period.
Form for Appointment of Chief Financial Officer: Regarding not filing
the e-Form MGT-14 for appointment of chief financial officer, the
Company will file the same at the earliest.
Form for Appointment of Chief Financial Officer: Regarding not filing
the Form e-MGT-14 for appointment of chief financial officer, the
Company will file the same at the earliest.
Transaction of more then 2 % of Company total share capital : Regarding
not filing the Form e-MGT-104 for transaction for more then 2 % of
share capital, the Company will file the same at the earliest.
Annual Disclosure of shareholding of promoter and director under SEBI
(SAST) Regulation, 2011 - The Company will submit the same with stock
exchange the said disclosure at the earliest.
Functional Website : Regarding not having functional website company's
website is under implementation and soon company will display the
required information on its website.
Publication of Financial Results: In future Company will publish its
financial results in desired newspaper.
Form for Director Report and Approval of quarterly financial results :
Regarding not filing the Form e- MGT-14 for appointment of reports and
quarterly results, the Company will file the same at the earliest.
Internal Audit & Controls
The Company appointed M/s. K. K. Biyani & Associates, Chartered
Accountants as its Internal Auditor. 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 with the board of directors and
suitable corrective actions taken as per the directions of Audit
Committee on an ongoing basis to improve efficiency in over all
operations of the company.
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
genuine concerns has been established. The Vigil Mechanism Policy will
be uploaded on website of the Company once it is fully functional.
Risk Management policy
The Company has laid down procedure to inform the Board about risk
assessment & minimization procedure. The risk management approach is
based on a clear understanding of the variety of risks that the
organization faces, disciplined risk monitoring and measurement and
continuous risk management and mitigation measures..
Particulars of loans, guarantees or investments under section 186
The particulars of loans, guarantees and investments give/made during
the financial year under review and governed by the provisions of
Section 186 of the Companies Act, 2013 have been disclosed in the
financial statements.
Particulars of contracts or arrangements with related parties:
All contracts/arrangements/transactions entered by the company during
the financial year with related parties were in the ordinary course of
business and on an arm's length basis. During the year, the Company has
not entered into any contract / arrangement / transaction with related
parties which could be considered material in accordance with the
policy of the Company on materiality of related party transactions. The
Policy on materiality of related party transactions and dealing with
related party transactions as approved by the Board.
Your Directors draw attention of the members to Note 21 to the
financial statement which sets out related party disclosures.
Public Deposits
The Company has not accepted any deposits from public and as such, no
amount on account of principal or interest on deposits from public was
outstanding as on the date of the balance sheet or renewed any fixed
deposits during the year.
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 I.
Details in respect of adequacy of internal financial controls with
reference to the Financial Statements.
The Company has in place adequate internal controls commensurate with
the size, scale and complexity of its operations. To maintain its
objectivity and independence, the Internal Auditor report to the
Chairman of the Audit Committee of the Board. Internal Auditor monitor
and evaluate the efficacy and adequacy of internal control system in
the Company, its compliance with operating systems, accounting
procedures and policies at all locations of the Company. Based on the
report of Internal Auditor, process owners undertake corrective action
in their respective areas and thereby strengthen the controls.
Significant audit observations and corrective actions thereon are
presented to the Audit Committee of the Board.
Corporate Governance Certificate
As per Clause 49 of the Listing Agreement with the Stock exchange, the
report of the Corporate Governance and the Certificate of the Auditors
of the Company in respect of the Compliance thereof are appended hereto
and forming part of this report. The requisite certificate from the
Auditors of the Company confirming compliance with the conditions of
Corporate Governance is attached in the report on Corporate Governance.
Management Discussion and Analysis
As required under Clause 49 of the Listing Agreement with the Stock
Exchange, the Management Discussion and Analysis of the financial
condition and result of operation of the Company under review, is
annexed and forms an integral part of the Directors' Report.
Disclosure
Audit Committee
The details pertaining to composition of audit Committee are included
in the Corporate governance Report which forms part of this report.
Nomination & Remuneration Committee
The details pertaining to composition of Nomination & remuneration
Committee are included in the Corporate governance Report which forms
part of this report.
Stakeholder Relationship Committee
The details pertaining to composition of Stakeholders Relationship
Committee are included in the Corporate governance Report which forms
part of this report.
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
No material changes and commitments affecting the financial position of
the Company occurred between the end of the financial year to which
this financial statements relate on the date of this report
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
No such order passed by the any of the regulatory authority or courts
or tribunals.
Disclosure under the Sexual Harassment of Women at Workplace
(Prevention. Prohibition & Redressal) Act. 2013
The Company pursuant to the Section 4 of the Sexual Harassment of Women
at workplace (Prevention, Prohibition and Redressal) Act. 2013 has
constituted an Internal Complaints Committee. During the year, no
complaint was lodged with the Internal Complaint Committee.
Conservation of energy, technology absorption and foreign exchange
earnings and outgo
During the year under review, the Company has not carried out any
manufacturing activity and hence fee Directors have nothing to report
under Section 134 (3) (m) of the Companies Act 2013 read with Rule 8(3)
of the Companies (Accounts ) Rules, 2014 with reference to Conservation
of Energy and Technology Absorption.
Foreign exchange earnings and Outgo
During fee year, the total foreign exchange used was nil and the total
foreign exchange earned was nil. Corporate Social Responsibility (CSR)
The Disclosure as per Rule 9 of the Companies (Corporate Social
responsibility Policy) Rules, 2014 are not applicable to the 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
thatÂ
(a) in fee 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 fee 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) fee 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.
Listing with Stock Exchange
The Company confirms that it had paid the Annual Listing Fees for the
year 2015-2016 to BSE where the Company's Shares are listed.
Acknowledgements
Your Directors would like to express their sincere appreciation for the
assistance and co-operation received from the Shareholders, Bankers,
regulatory bothes and other business constituents during the year under
review.
Your Directors also wish to place on record their deep sense of
appreciation for the committed displayed by all executive, officer and
staff, resulting in successful performance of the Company.
For and on behalf of the Board of Directors
Place : Mumbai Kamlesh Desai
Date: 4th September, 2015 Managing Director
DIN No. 00079724
Mar 31, 2014
Dear Shareholders,
The Directors have pleasure in presenting the Twenty-Second Annual
Report and Audited Accounts for the year ended 31st March, 2014.
FINANCIAL RESULTS
(Rs. In Lacs)
2013-2014 2012-2013
Stand-alone
Total Income 0.00 0.00
Total expenditure 13.07 15.96
Profit before Depreciation, Int. & Tax (13.07) (15.96)
Depreciation & Amortization 1.35 1.34
Interest 0.02 0.02
Profit before Tax (14.44) (17.32)
Provision for Taxation 2.86 0.63
Profit After Tax (17.30) (17.95)
Share Capital 445.83 445.83
DIVIDEND
The directors of the company has not recommend any dividend for the
year.
OPERATIONAL REVIEW
During the year under review the Company has posted net loss of Rs.
17.30 Lacs as against previous year loss of Rs. 17.95, the same is to
due to company project is under construction and expecting the same to
complete the same in coming year. The management is confident in
achieving better result in coming financial year.
CORPORATE GOVERNANCE
A report on the corporate governance along with a certificate from the
auditors of the company regarding the compliance of conditions of the
corporate governance as stipulated under Clause 49 of the listing
agreement is included and forms part of this annual report.
All Board members and senior management personnel have affirmed
compliance with code of conduct for the year 2013-14. A declaration to
this effect certified by the Chairman & Managing Director of the
company is also attached in the annual report. The Chairman and the
Finance Director of the Company have certified to the Board with regard
to the financial statements and other matters as required under clause
49 of the listing agreement and the said certificate is also attached
in the annual report.
MANAGEMENT DISCUSSION AND ANALYSIS
A detailed review of operations, performance and future outlook of your
company and its businesses is given in the Management Discussion and
Analysis, which forms part of this annual report.
FIXED DEPOSITS
The company has not accepted any deposit from the public during the
year under review, within the meaning of Section 58A of the Companies
Act, 1956 and the rules made there under.
INTERNAL CONTROL SYSTEM & THEIR ADEQUACY
The company has in place adequate systems of internal control that are
commensurate with its size and nature of the business and documented
procedures covering all financial and operating functions. The company
being in real estate industry, it has in place clear processes and
well-defined roles and responsibilities for its staff at various
levels. The Management has a defined reporting system, which
facilitates monitoring and adherence to the process and systems in
place.
AUDITORS
M/s Gupta Shyam & Co,, Chartered Accountants, Mumbai, Statutory
Auditors of the company hold office up to the conclusion of this annual
general meeting and are recommended for re-appointment for the next
three financial years. The company has received a certificate under
section 139 of the Companies Act, 2013 stating that the appointment, if
made, will be within the limits as specified in that section.
M/s Gupta Shyam & Co., Chartered Accountants, Mumbai Auditors of the
Company will retire from the office of the Auditors till the conclusion
of the forthcoming AGM and are eligible for re-appointment. Pursuant to
the provisions of section 139 of the Companies Act, 2013 and the Rules
framed thereunder, it is proposed to appoint M/s Gupta Shyam & Co. as
statutory auditors of the Company from the conclusion of the
forthcoming AGM till the conclusion of the twenty-fifth AGM to be held
in the year 2017, subject to ratification of their appointment at every
AGM.
AUDITORS'' REPORT
Your Directors refer to the observations made by the Auditors in their
report and wish to state that the notes forming part of accounts are
self explanatory and hence do not require any further comments.
DIRECTORS
Mr. Rajan ranadive and Mr. Sunil Kacha, Directors of the company,
retire by rotation and being eligible offer themselves for
reappointment. You are requested to reappoint them.
DIRECTOR RESPONSIBILITY STATEMENT
Your Director make the following statement to Section 217 (2AA) of the
Companies Act, 1956:
i) in the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to
material departures;
ii) appropriate accounting policies had been selected and applied
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 of the
company for that period;
iii) 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; and
iv) the accounts has been prepared on going concern basis
PARTICULARS OF EMPLOYEES
Statement under section 217 (2A) of the Companies Act, 1956 read with
the Companies (Particular of Employees) Rules 1975, as amended by the
Companies Amendment Act, 1988, none of the employee draws salary in
excess of Rs. 5,00,000/- per month, hence no disclosure is required.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION
The information required under section 217 (1) (e) of the Companies
Act, 1956 read with the Companies (Disclosures of Particulars in the
Report of the Board of Directors) Rules, 1988 with respect to the
matters specified therein are not applicable to your company.
LISTING FEES
The Company confirms that the Annual Listing Fees due to Bombay Stock
Exchange Ltd., Mumbai for the Financial Year 2014- 2015 has been paid.
CUSTODIAN CHARGES
The Company confirms that the custodian charges due to National
Securities Depository Ltd. and Central Depository Services (India) Ltd.
have been paid for the financial year 2014-15 as applicable and payable
as per SEBI circular in this regard.
ACKNOWLEDGEMENT
Your Directors are pleased to place on record their deep appreciation
towards the sincere services and co- operation extended by employees of
the organization at all levels. They also wish to place on record their
gratitude for the confidence placed in them by the banks & financial
institutions they are associated with. Further, your Directors wish to
thank the various regulatory authorities, business associates and
clients for their valued co-operation.
By order of the Board
For Sikozy Realtors Limited
Place : Mumbai Kamlesh Desai
Dated : 3rd September, 2014 Managing Director
DIN No. 00079724
Mar 31, 2012
The Directors have pleasure in presenting to you the 20th Annual
Report together with the Audited Statement of Accounts o the Company
for the financial year ended 31st March, 2012.
FINANCIAL PERFORMANCE
As members are aware that last year Company had purchased three
projects and the same are under construction, therefore the expenses
incurred on the same will be capitalized and finally adjusted the same
once the sales has been started against these projects. Further during
the Company has settled its term liability, therefore, there is a gross
income of Rs. 22.91 lacs compare to previous year Rs. Nil. Further due
to deferred tax assets Company has shown net loss of Rs. 57.62 lacs
compare to previous year losses of Rs. 15.57 Lacs. However, the
management is confident in achieving better result in coming financial
year.
FINANCIAL RESULTS
Rs. In Lacs
Particulars For the year ended on
31.03.12 31.03.11
Total Income 22.92 0.00
Total Expenditure 19.37 13.85
PBDIT 3.55 15.57
Non Cash Charges 1.34 1.72
Interest 0.01 0.00
PBT 2.20 (15.57)
Tax Provision / Deferred Tax 59.82 0.74
Profit / (Loss) After Tax (57.62) (14.84)
Equity Share Capital 445.83 370.83
DIVIDEND
Your directors do not recommend any dividend for the year.
DIRECTORS
Shri Kamlesh Desai and Shri Sunil Kacha, retire by rotation at the
ensuing annual general meeting and offer themselves for re-appointment.
You are requested to reappoint them. Further, during the year under
review Shri Mukesh Padhya and Shri Parasmal Jain were appointed as
additional director on 7th November, 2011. It would be in the interest
of the company to appoint them as a regular director and therefore, you
are requested to consider and approve the resolution of appointing them
as regular director. Further Smt. Rasika Ranadive resigned from the
board due to pre-occupation. Board wishes to express their sincere
thanks for their contribution and support.
FIXED DEPOSITS
Your Company has not accepted any fixed deposit during the year under
review which falls under the definition of Section 58 A of the
Companies Act, 1956.
CORPORATE GOVERNANCE
In terms of Listing Agreement with Stock Exchanges, the Company is
required to comply with the Corporate Governance provisions and the
Company is complied with the same and attached separate annexure for
the same.
MANAGEMENT DISCUSSION AND ANALYSIS
As required under Clause 49 of the Listing, the Management Discussion
and Analysis Report for the financial year ended on 31st March, 2012 is
annexed to this report.
AUDITORS
The Auditors M/s Gupta Shyam & Co., Chartered Accountants, retire at
the ensuing Annual General Meeting and are eligible offer themselves
for reappointment. You are requested to consider their reappointment
for the next financial year and fix their remuneration.
The Specific notes forming part of the Accounts referred to in the
Auditors' Report are self-explanatory and do not require any further
elucidation.
LISTING
The shares of the Company are listed at the Bombay, Pune and Ahmedabad
Stock Exchanges. The Company has paid the annual listing fees to Bombay
Stock Exchange for the year 2012-2013.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to provisions of Section 217 (2AA) of the Companies
(Amendment) Act, 2000, the Directors confirm :
1. that in the preparation of Annual Accounts, the applicable
accounting standards had been followed along with the proper
explanation relating to material departures if any.
2. that the Directors had selected such accounting policies and
applied them consistently and made judgements 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 the end of the Financial year and of
the Profit & Loss of the Company for that period.
3. that the Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Act so to prevent and detect fraud and other
irregularities.
4. that the Directors had prepared the accounts on a going concern
basis.
STATUTORY DISCLOSURES
A) Particulars of the employees of the Company pursuant to Section 217
(2A) of the Companies Act, 1956 is not required to be given as there is
no employee draw salary in excess of the limit specified in the said
Section.
B) Particulars required to be furnished by the Companies (Disclosure of
particulars in the Report of Board of Directors) Rules, 1988:
i) Part A relating to Conversion of Energy - The company engaged in
construction activity therefore consumption of energy is not
applicable.
ii) Part B relating to technology Absorption - Nil
iii) Foreign Exchange Earning and Outgo :- The Company has neither
consumed nor earned any foreign exchange during the year under review.
SUB-DIVISION OF SHARES
The Sub-division of Equity Shares has been proposed with a view to
broaden its Shareholders/ investors base by encouraging the
participation of the retail investors and also with a view to increase
the liquidity of the Equity Shares of the Company. Further, the
proposed Sub-division of Shares will reduce the nominal value and
trading price of each Share and increase the total number of Shares in
the issue. The Board of the Directors at its meeting held on 27th
August, 2012, recommended sub-division of each Equity Shares of the
Company of the face value of Rs. 10/- each to the face value of Re.l/-
each.
FURTHER ISSUE OF SHARES
During the year under review Company has issued 7,50,000 equity shares
on preferential basis to other than promoters on preferential basis and
completed the required formality as specified under Listing Agreement
of stock exchanges.
ACKNOWLEDGEMENT
Your Directors place on records their grateful appreciation for the
assistance and co-operation received from banks, clients, staff and you
the shareholders.
For and on behalf of the Board of SIKOZY REALTORS LIMITED
Managing Director Director
Place : Mumbai,
Dated : 27th August, 2012