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Directors Report of AUDROC Ltd.
Mar 31, 2026
Your Directors have pleasure in presenting the 32nd Annual Report of your Company together with the
Audited Statements of Accounts for the year ended March 31, 2026:
(Amount in Lakhs)
|
Particulars |
Standalone |
Consolidated |
||
|
Year Ended |
Year Ended |
Year Ended |
Year Ended |
|
|
Revenue from Operations |
250.21 |
- |
250.21 |
- |
|
Other Income |
- |
6.27 |
0.57 |
6.76 |
|
Total Revenue |
250.21 |
6.27 |
250.78 |
6.76 |
|
Cost of Raw Materials |
136.48 |
- |
136.48 |
- |
|
Purchase of Stocks in Trade |
- |
- |
- |
- |
|
Changes in inventories of |
- |
- |
- |
- |
|
Employee Benefits |
19.45 |
2.20 |
19.45 |
2.20 |
|
Finance Costs |
- |
- |
- |
- |
|
Depreciation and |
- |
- |
- |
- |
|
Other Expenses |
76.47 |
48.65 |
76.58 |
48.84 |
|
Total Expenses |
232.40 |
50.85 |
232.51 |
51.04 |
|
Profit/(Loss) before tax |
17.81 |
(44.58) |
18.27 |
(44.28) |
|
Exceptional Items |
- |
- |
- |
- |
|
Tax Expense |
- |
- |
- |
- |
|
Net Profit/ (Loss) after tax |
17.81 |
(44.58) |
18.27 |
(44.28) |
|
Other Comprehensive |
- |
- |
- |
- |
|
Total Comprehensive |
17.81 |
(44.58) |
18.27 |
(44.28) |
|
Income for the year |
STANDALONE & CONSOLIDATED FINANCIAL HIGHLIGHTS
For the financial year ended March 31, 2026, your Company has reported Net profit of ^ 17.81 Lakhs as
compared to previous financial year 2024-25 Net Loss of ^ 44.58 Lakhs.
For the financial year ended March 31, 2026, your Company has reported consolidated Net Profit of ^
18.27 Lakhs as compared to previous financial year 2024-25 Net Loss of ^ 44.28 Lakhs.
BUSINESS SEGMENT/ STATE OF COMPANY''S AFFAIRS
The Company was previously engaged in the textile business. Pursuant to the approval of the resolution
plan by the Hon''ble National Company Law Tribunal (NCLT) vide order dated 07th February 2025, the
Company proposed a change in its object clause to diversify into the agriculture sector. The revised
object clause was subsequently approved by the Registrar of Companies (ROC) on 25th March 2026.
Accordingly, the Company is presently engaged in the processing and trading of food grains, including
non-basmati rice, wheat, and pulses. The extensive experience of the management continues to play a
vital role in ensuring high standards in sourcing, processing, and distribution.
As on date, the Company has developed a wide distribution network across India, enabling it to
effectively cater to diverse markets. In light of the expanding opportunities in the agriculture sector and
favorable market conditions, the Company is well-positioned to leverage its capabilities and strengthen
its presence in the food grains segment while pursuing sustainable growth.
DIVIDEND
The Board of Directors is pleased to recommend a dividend of ^0.04 per equity share of Re. 1/- (Rupee
One Only) each for the financial year, subject to the approval of the shareholders at the ensuing 32nd
Annual General Meeting.
SHARE CAPITAL & LISTING
a) Issue of shares or other convertible securities:
⢠Authorized Share Capital:
During the financial year under review, the Authorized Share Capital of the Company stood at
Rs. 100,00,00,000/- (Rupees One Hundred Crore only) comprising of 100,00,00,000 Equity Shares of
Re. 1/- each.
⢠Issued, Subscribed & Paid-Up Capital:
The paid-up Equity Share Capital as on March 31, 2026 was Rs. 50,00,000 (Rupees Fifty lacs).
As on March 31, 2025, the paid-up capital of the company was Rs. 50,00,00,000 (Rupees Fifty Crores
Only) divided into 50,00,00,000 (Fifty Crores) equity shares of Re. 1/- (Rupee One Only) each. Pursuant
to the order passed by Hon''ble NCLT, Mumbai Bench dated 07th February, 2025, the entire shareholding
of promoter and promoter group stand extinguished and the shareholding of public was reduced to
2,50,000 shares of Re. 1/- (Rupee One Only) each aggregating to Rs. 2,50,000/- (Rupees Two Lakhs
Fifty Thousand Only) in proportion to the shares already held by them on the record date which was
fixed as March 04, 2025. Further, the promoter and promoter group were allotted 47,50,000 shares of
Re. 1/- (Rupee One Only) each aggregating to Rs. 47,50,000/- (Rupees Forty-Seven Thousand Fifty
Only), as per approved resolution plan. Further the allotment was approved by Board of Directors in its
meeting held on April 12, 2025. Pursuant to the said allotment, paid up share capital of the company
was Rs. 50,00,000/- (Rupees Fifty Lakhs Only) divided into 50,00,000 (Fifty Lakhs) equity shares of Re.
1/- (Rupee One Only) each.
b) Issue of equity shares with differential rights:
During the year under review, your Company has not issued any Equity Shares with differential rights
and hence the provisions of Section 43 of the Companies Act, 2013 read with the applicable Rules made
thereunder.
c) Issue of Sweat Equity Shares:
During the year under review, your Company has not issued any Sweat Equity Shares pursuant to the
provisions of Section 54 of the Companies Act, 2013 read with the applicable Rules made thereunder.
d) Details of Employee Stock Options:
The Company has not issued any shares under Employee''s Stock Options Scheme pursuant to the
provisions of Section 62 of the Companies Act, 2013 read with the applicable Rules made thereunder,
therefore, the disclosure regarding issue of employee stock options is not applicable.
e) Shares held in trust for the benefit of employees where the voting rights are not exercised
directly by the employees:
During the year under review, the Company has not given loan to any employee for purchase of its own
shares as per Section 67(3)(c) of Companies Act, 2013, therefore, the disclosure as per Rule 16(4) of
Companies (Share Capital and Debentures) Rules, 2014 are not applicable.
f) Issue of debentures, bonds or any non-convertible securities:
During the year under review, the Company has not issued any debentures, bonds or any
non-convertible securities pursuant to the applicable provisions of Companies Act, 2013 read with the
Rules made there under.
g) Issue of warrants:
During the year under review, the Company has not issued any warrants pursuant to the applicable
provisions of Companies Act, 2013 read with the Rules made there under.
As on March 31, 2026, none of the Directors and/or Key Managerial Person of the Company hold
instruments convertible in to Equity Shares of the Company.
The Company''s Equity Shares are listed on the BSE Limited (âBSEâ).
CORPORATE GOVERNANCE
Your directors consider corporate governance to be an ethical and value-driven framework that
supports sustainable growth and long-term value creation for the Company. The Company remains
committed to operating as a responsible and forward-looking enterprise, with a focus on attracting and
retaining talent, building investor confidence, and fostering meaningful relationships with stakeholders
and the community at large.
The Company continues to uphold the highest standards of ethics, transparency, and corporate
governance. It complies with the Code of Conduct applicable to the Board of Directors and senior
management in accordance with the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015. The governance framework is anchored in robust internal control systems, strict
adherence to applicable laws and regulations, and a strong culture of accountability across all levels of
the organization.
The Company''s corporate governance practices are reinforced through effective Board oversight, timely
and accurate disclosures, transparent accounting policies, and integrity-driven decision-making
processes.
The Corporate Governance Report for the financial year under review, as required under the applicable
SEBI Listing Regulations, forms an integral part of this Annual Report. A certificate from the Practicing
Company Secretary, M/s J D Khatnani & Associates, confirming compliance with the conditions of
corporate governance, is annexed to the said report.
CREDIT RATING OF SECURITIES
The credit rating is a financial indicator to potential investors of debt securities such as bonds. During
the year under review, your Company has not issued any debt securities, so credit rating of securities is
not applicable to the Company.
TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND (IEPF):
There was no amount liable or due to be transferred to the Investor Education and Protection Fund
during the financial year 2025-2026 ended 31st March 2026.
GENERAL RESERVES
During the financial year under review, the Company has transferred an amount of ^17.81 lakhs from
the profits of the year to the General Reserve (Free Reserve) for appropriation purposes. The General
Reserve is created by way of transfer within components of equity and does not constitute an item of
Other Comprehensive Income. Accordingly, the amounts so transferred shall not be subsequently
reclassified to the Statement of Profit and Loss.
FINANCE AND ACCOUNTS
As mandated by the Ministry of Corporate Affairs, the financial statements for the year ended on March
31, 2026 has been prepared in accordance with the Indian Accounting Standards (IND AS) notified
under Section 133 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014. The
estimates and judgements relating to the Financial Statements are made on a prudent basis, so as to
reflect in a true and fair manner, the form and substance of transactions and reasonably present the
Company''s state of affairs, profits/(losses) and cash flows for the year ended March 31, 2026.
Accounting policies have been consistently applied except where a newly issued accounting standard, if
initially adopted or a revision to an existing accounting standard requires a change in the accounting
policy hitherto in use. Management evaluates all recently issued or revised accounting standards on an
ongoing basis. The Company discloses standalone and consolidated financial results on a quarterly
basis which are subjected to limited review and publishes standalone and consolidated audited
financial results on an annual basis.
The Company continues to focus on judicious management of its working capital, receivables,
inventories and other working capital parameters were kept under strict check through continuous
monitoring.
The auditor is issued modified report (Standalone and consolidated) for the financial year under
review.
PARTICULARS OF LOANS, GUARANTEES & INVESTMENTS
Details of Loans, Guarantees and Investments, if any, covered under the provisions of Section 186 of the
Companies Act, 2013 are given in the notes to the Financial Statements.
ANNUAL RETURN
In accordance with the provisions of Section 92(3) and Section 134(3)(a) of the Companies Act, 2013,
read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return
(Form MGT-7) of the Company as on March 31, 2026, is available on the website of the Company at
https://www.alkaindia.in/annual-returns/
DETAILS OF SUBSIDIARY / JOINT VENTURES / ASSOCIATE COMPANIES
The Company had one material subsidiary, Vintage FZE (India) Private Limited, which was duly
divested pursuant to the approval of the shareholders at the Annual General Meeting held on March 23,
2026, relating to the financial year 2024-25, based on valuation report obtained from Mr. Nirmal
Premshankar Nagda, Registered Valuer. The transaction was executed in the financial year 2026-27.
In accordance with the provisions of the SEBI Listing Regulations, the Company has in place the Policy
on material subsidiaries which is available on its website at the link:
https://www.alkaindia.in/wp-content/uploads/2026/01/Policy-for-Determining-Material-Subsidiarie
s.pdf
RELATED PARTY TRANSACTIONS
There were no materially significant transactions with the related parties during the financial year,
which were in conflict with the interest of the Company. The requisite details under Form AOC-2 have
been provided as an Annexure to this Director''s Report. Suitable disclosure as required by the
Accounting Standard (Ind-AS 24) has been made in the notes to the Financial Statements.
The Company has put in place a mechanism for certifying the Related Party Transactions Statements
placed before the Audit Committee and the Board of Directors.
The Policy on Related Party Transactions as approved by the Board of Directors has been uploaded on
the website of the Company. None of the Directors has any pecuniary relationship or transactions
vis-a-vis the Company except remuneration and sitting fees.
In accordance with the provisions of the SEBI Listing Regulations, the Company has in place the Policy
on dealing with Related Party Transactions which is available on its website at the link:
https://www.alkaindia.in/wp-content/uploads/2025/11/Policy-on-Materiality-of-Related-Party-Trans
actions-and-on-Dealing-with-Related-Party-Transaction.pdf
MANAGEMENT DISCUSSION & ANALYSIS
The Management Discussion and Analysis on the operations of the Company as prescribed under Part B
of Schedule V read with regulation 34(3) of the Listing Regulations, 2015 is provided as Annexure I and
forms part of the Directors'' Report.
MATERIAL CHANGES AFFECTING THE COMPANY
During the financial year 2025-26, there has been a shift in net profit/loss of the company pursuant to
change in the object clause of the company duly approved by shareholders in the 31st Annual General
Meeting of the company dated March 23, 2026 for the financial year 2024-25.
CHANGE IN NATURE OF BUSINESS, IF ANY
During the year under review, the Company has changed its main object from the textile industry to the
agro industry. The details of the same are available on the website of the Company at
https://www.alkaindia.in/wp-content/uploads/2026/02/Outcome-of-Board-Meeting 27.02.2026.pdf.
Further, the Company has proposed to include a new object in addition to its existing objects, subject to
the approval of the Board, shareholders at the ensuing Annual General Meeting and other approvals, as
may be necessary.
PERFORMANCE EVALUATION
The Company has a policy for performance evaluation of the Board and other individual Directors
(including Independent Directors) which includes criteria for performance evaluation of Non-Executive
Directors and Executive Directors. In accordance with the manner of evaluation specified by The
Nomination & Remuneration Committee, the Board carried out annual performance evaluation of the
Board and Individual Directors.
The Independent Directors carried out annual performance evaluation of the Chairman, the
non-independent directors and the Board as a whole.
NUMBER OF MEETINGS OF THE BOARD
During the Financial Year 2025-26, During the financial year 2025-26, the Board of Directors of the
Company met 9 times on the following dates:
|
Sr.No. |
Date of Meeting |
Day |
Number of Members attended |
|
1 |
April 12, 2025 |
Saturday |
4 |
|
2 |
April 26, 2025 |
Saturday |
5 |
|
3 |
May 30, 2025 |
Friday |
5 |
|
4 |
July 24, 2025 |
Thursday |
5 |
|
5 |
August 07, 2025 |
Thursday |
5 |
|
6 |
October 15, 2025 |
Wednesday |
5 |
|
7 |
December 31, 2025 |
Wednesday |
5 |
|
8 |
January 30, 2026 |
Friday |
5 |
|
9 |
February 27, 2026 |
Friday |
5 |
These meetings were conducted to discuss and review various matters relating to the operations,
performance, and governance of the Company.
MEETINGS OF THE MEMBERS
During the year under review, there was one Annual general meeting held on March 23, 2026 through
video conferencing / other audio-visual means.
DISCLOSURE OF MEETING OF COMMITTEES
All Committees of the Board of Directors are constituted in line with the provisions of the Companies
Act, 2013 and applicable regulations of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
Audit committee:
The Audit Committee comprises Mr. Sagar Kumar (Chairman), Ms. Himali Maheshbhai Thakkar and Mr.
Karnik Shasankan Pillai. All the recommendations made by the Audit Committee were accepted by the
Board.
Audit Committee met 7 (seven) times during the year 2025-26:
|
Sr. No. |
Date of Meeting |
Day |
Number of Members attended |
|
1 |
April 26, 2025 |
Saturday |
3 |
|
2 |
May 30, 2025 |
Friday |
3 |
|
3 |
July 24, 2025 |
Thursday |
3 |
|
4 |
August 07, 2025 |
Thursday |
3 |
|
5 |
October 15, 2025 |
Wednesday |
3 |
|
6 |
January 30, 2026 |
Friday |
3 |
|
7 |
February 27,2026 |
Friday |
3 |
Nomination & Remuneration committee:
The Nomination & Remuneration Committee comprises Ms. Komal Manoharlal Motiani (Chairperson),
Ms. Himali Maheshbhai Thakkar and Mr. Sagar Kumar.
Nomination & Remuneration committee met 4 (four) times during the year 2025-26:
|
Sr.No. |
Date of Meeting |
Day |
Number of Members attended |
|
1 |
May 30, 2025 |
Friday |
3 |
|
2 |
August 07, 2025 |
Thursday |
3 |
|
3 |
December 31, 2025 |
Wednesday |
3 |
|
4 |
February 27, 2026 |
Friday |
3 |
Stakeholdersâ Relationship committee:
The Stakeholders'' Relationship Committee comprises Ms. Komal Manoharlal Motiani (Chairperson), Ms.
Himali Maheshbhai Thakkar and Mr. Sagar Kumar.
Stakeholders'' Relationship committee met 4 (four) times during the year 2025-26:
|
Sr.No. |
Date of Meeting |
Day |
Number of Members attended |
|
1 |
May 30, 2025 |
Friday |
3 |
|
2 |
August 07, 2025 |
Thursday |
3 |
|
3 |
October 15, 2025 |
Wednesday |
3 |
|
4 |
January 27, 2026 |
Tuesday |
3 |
MANAGEMENT
There is a change in management of the Company during the Financial year 2025-26.
Change in the composition of Board and KMP during the current financial has been provided herein
below:
|
Name |
Category |
Date of Appointment |
Date of |
|
Mr. Rajesh Chinubhai |
Non-executive & |
18-02-2025 |
08-08-2025 |
|
Ms. Himali Maheshbhai |
Non-executive & |
12-04-2025 |
- |
|
Mr. Sagar Kumar |
Non-executive & |
07-08-2025 |
- |
|
Mrs. Jinal Dishank |
Company Secretary & |
18-02-2025 |
27-02-2026 |
|
Ms. Himani Jhamar |
Company Secretary & |
27-02-2026 |
- |
DIRECTORS
As on March 31, 2026, the Board comprised five directors, with a balanced mix of executive and
independent directors, complying with Regulation 17 of SEBI LODR (at least 50% independent
directors for a non-chairman executive-led board). None of the directors hold positions exceeding the
limits under Regulation 17A of SEBI LODR Regulations, 2015. All independent directors provided
declarations under Section 149(6) of the Companies Act, 2013, confirming their independence.
Following are the details of changes in Board during the year till 31st March, 2026 -
|
Name of Director |
Category |
DIN |
Date of |
Date of |
|
Mr. Karnik |
Managing Director |
08529650 |
18-02-2025 |
- |
|
Mr. Jatinbhai |
Non -Executive |
06973337 |
18-02-2025 |
- |
|
Mr. Rajesh |
Non-executive & Independent Director |
02102686 |
18-02-2025 |
08-08-2025 |
|
Ms. Komal |
Non-executive & Independent Director |
10226691 |
18-02-2025 |
|
|
Ms. Himali Maheshbhai Thakkar |
Non-executive & Independent Director |
10752931 |
12-04-2025 |
|
|
Mr. Sagar Kumar |
Non-executive & Independent Director |
11225507 |
07-08-2025 |
In the opinion of the Board, the Independent Directors possess the requisite expertise and experience
and are the persons of high integrity and repute.
They fulfill the conditions specified in the Companies Act, 2013 and the Rules made thereunder and are
independent of the management.
Further, none of the Directors of the Company are disqualified under sub-section (2) of Section 164 of
the Companies Act, 2013.
DIRECTOR RETIRING BY ROTATION
Pursuant to the provisions of Section 152(6) of the Companies Act, 2013, Mr. Jatinbhai Patel (DIN:
06973337) Non-executive Director of the Company, retires by rotation at the ensuing annual general
meeting and being eligible offers himself for re-appointment. He has given a declaration in terms of
Section 164(2) of the Companies Act, 2013 to the effect that he is not disqualified from being
reappointed as a Director of the Company.
INDEPENDENT DIRECTORS & KMPs
As per provisions of Section 149 of the 2013 Act, independent directors shall hold office for a term up to
five consecutive years on the board of a company, but shall be eligible for re-appointment for another
term up to five years on passing of a special resolution by the company and disclosure of such
appointment in Board''s Report. Further Section 152 of the Act provides that the independent directors
shall not be liable to retire by rotation in the Annual General Meeting (''AGM'') of the Company.
As per requirements of Regulation 25 of Listing Regulations, a person shall not serve as an independent
director in more than seven listed entities, provided that any person who is serving as a whole-time
director in any listed entity shall serve as an independent director in not more than three listed entities.
Further, independent directors of the listed entity shall hold at least one meeting in a year, without the
presence of non-independent directors and members of the management and all the independent
directors shall strive to be present at such meeting.
In the opinion of the Board, the Independent Directors possess the requisite expertise and experience
and are the persons of high integrity and repute. They fulfil the conditions specified in the Companies
Act, 2013 and the Rules made thereunder and are independent of the management.
Independent Directors have confirmed that they have complied with the Company''s Code of Business
Conduct & Ethics.
DECLARATION BY INDEPENDENT DIRECTOR(S) AND RE-APPOINTMENT, IF ANY
All the Independent Directors have submitted their disclosures to the Board that they fulfil all the
requirements as stipulated in Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, so as to qualify themselves
to be appointed as Independent Directors under the provisions of the Companies Act, 2013 and the
relevant rules. In terms of Regulation 25(8) of Listing Regulations, they have confirmed that they are
not aware of any circumstance or situation which exists or may be reasonably anticipated that could
impair or impact their liability to discharge their duties. Based on the declaration received from
Independent Directors, the Board of Directors have confirmed that they meet the criteria of
Independence as mentioned under Section 149 of the Companies Act, 2013 and Regulation 16(1)(b) of
Listing Regulations and they are independent of the management.
FAMILIARISATION PROGRAM FOR DIRECTORS
As a practice, all new directors (including independent directors) inducted to the Board are given a
formal orientation.
The familiarization programme for the independent directors is customized to suit their individual
interests and area of expertise. The directors are usually encouraged to interact with members of senior
management as part of the induction programme. The senior management make presentations giving
an overview of the Company''s strategy, operations, products, markets and group structure, Board
constitution and guidelines, and the major risks and risk management strategy. This enables the
directors to get a deep understanding of the Company, its people, values and culture and facilitates their
active participation in overseeing the performance of the management.
The details of the familiarization program conducted during the Year Under Review can be accessed
from Company website
https://www.alkaindia.in/wp-content/uploads/2025/11/Familiarization-Programme.pdf
NOMINATION & REMUNERATION POLICY
The Company has devised a Nomination and Remuneration Policy (âNRC Policyâ) which inter alia sets
out the guiding principles for identifying and ascertaining the integrity, qualification, expertise and
experience of the person for the appointment as directors, key managerial personnel (âKMPs''â) and
senior management personnel (âSMPsâ). The NRC Policy has been framed with the objective
a. to ensure that appointment of directors, KMPs and SMPs and their removals are in compliances with
the applicable provisions of the Companies Act, 2013 and the SEBI Listing Regulations;
b. to set out criteria for the evaluation of performance and remuneration of directors, KMPs and SMPs;
c. to adopt best practices to attract and retain talent by the Company; and
d. to ensure diversity of the Board of the Company
The NRC Policy specifies the manner of effective evaluation of performance of Board, its committees
and individual directors to be carried out either by the Board, by the Nomination and Remuneration
Committee or by an independent external agency and review its implementation and compliance.
During the Year Under Review, there has been no change in the NRC Policy.
The NRC Policy of the Company can be accessed at the website of the Company at
https://www.alkaindia.in/wp-content/uploads/2025/11/Nomination-and-Remuneration-Policy.pdf
DISCLOSURE OF REMUNERATION OF EMPLOYEES COVERED UNDER RULE 5(2) OF THE
COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014
None of the Managerial personnel of your company, who was employed throughout the financial year,
was in receipt of remuneration in aggregate of Rupees One Crore and Two Lakhs or more or if
employed for the part of the financial year was in receipt of remuneration of Rupees Eight Lakh and
Fifty Thousand or more per month and there were no employees in the company hence the provisions
of Rule 5(2) with respect to employees are not applicable to the company.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, TRIBUNALS OR COURTS
During the year under review, no significant and material orders were passed by any regulators,
tribunals, or courts impacting the going concern status of the Company or its future operations.
MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN THE END
OF THE FINANCIAL YEAR AND DATE OF REPORT
The Company had one material subsidiary, Vintage FZE (India) Private Limited, which was duly
divested pursuant to the approval of the shareholders at the Annual General Meeting held on March 23,
2026, relating to the financial year 2024-25, based on valuation report obtained from Mr. Nirmal
Premshankar Nagda, Registered Valuer. The transaction was executed in the financial year 2026-27.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 134(5) of the Companies Act, 2013 the Board of Directors
confirms that:
1. In the preparation of the annual accounts, for the year ended 31st March 2026.
2. , all the applicable accounting standards prescribed by the Institute of Chartered Accountants of
India have been followed along with proper explanation relating to material departures, if any;
3. 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 as at March 31, 2026 and of the losses of the Company for the
year ended on that date;
4. that the Directors have 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;
5. that the Directors had prepared the annual accounts on a going concern basis;
6. hat 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; and
7. that 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.
REGISTRAR AND SHARE TRANSFER AGENT
The Company has appointed MUFG Intime India Private Limited as its Registrar and Transfer Agent
(âRTAâ) for handling share registry and investor-related services. The RTA is registered with SEBI and
has been efficiently managing all related activities during the year under review.
BUSINESS RISK MANAGEMENT
The investment in Stock Market has the risk of change in the price and value, both in term of up and
down and thus can affect the profitability of the Company. Risk management is embedded in your
Company''s operating framework. Your Company believes that managing risks helps in maximizing
returns. The Company''s approach to addressing business risks is comprehensive and includes periodic
review of such risks and a framework for mitigating controls and reporting mechanism of such risks.
The risk management framework is reviewed periodically by the Board and the Audit Committee.
Further, the Company is not required to constitute Risk Management Committee under Listing
Regulations, 2015.
STATEMENT SHOWING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY
OF THE COMPANY
Business Risk Evaluation and Management is an on-going process within the organization. In
compliance with the provisions of Section 134(3)(n) of the Companies Act, 2013, the Board of Directors
has formulated and adopted the Risk Management Policy to identify, monitor and minimize risks while
identifying business opportunities which enables the Company to ensure sustainable business growth
with stability and to promote a proactive approach in reporting, evaluating and resolving risks
associated with the business.
INTERNAL AUDIT AND INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY
The Company has established a robust system of internal controls and procedures designed to ensure
the orderly and efficient conduct of its business, safeguarding of assets, prevention and detection of
frauds and errors, accuracy and completeness of accounting records, and timely preparation of reliable
financial information.
The Internal Audit function is carried out by the Company''s independent Internal Auditor, to M/s. PSG
And Associates, Chartered Accountant (FRN - 133773W), who conduct periodic audits of all
significant operational and financial areas and assess the adequacy and effectiveness of internal
controls. The observations and recommendations of the Internal Auditor are reviewed by the Audit
Committee, and necessary corrective actions are implemented.
Based on the report submitted by to M/s. PSG And Associates, Chartered Accountant (FRN - 133773W),
the Audit Committee and the Board are satisfied that the Company''s internal financial controls over
financial reporting are adequate and operating effectively during the year under review.
VIGIL MECHANISM / WHISTLE BLOWER POLICY
The Company has a Whistle Blower Policy to report genuine concerns or grievances. The Whistle
Blower Policy has been posted on the website of the Company i.e.
https://www.alkaindia.in/wp-content/uploads/2025/11/Whistle-Blower-Policy.pdf.
AUDITORS
a) Statutory Auditors & Auditors'' Report
The Audit Report issued by M/s. J M Patel & Bros, Chartered Accountants (Firm Registration
No. 107707W) on the financial statements for the financial year 2025-26 forms part of the Annual
Report. The notes to the financial statements, as referred to in the Auditor''s Report, are
self-explanatory and do not require any further clarification or comment.
The Auditor has carried out statutory Audit of the standalone and consolidated financials and has
issued a modified opinion (disclaimer of opinion).
EXPLANATIONS IN RESPONSE TO AUDITORS'' QUALIFICATIONS:
The Auditors'' Report for the financial year 31st March, 2026 is modified, i.e. It contains the
qualification as follows:
|
Sr No. |
Audit Qualification (Standalone) |
Type of Audit |
Comment of the Board on |
|
|
Unverified Book Profit and |
Disclaimer |
of |
The object of the company |
|
|
1 |
Revenue |
Opinion |
was changed on 25th March |
|
|
Appropriateness of Dividend |
Disclaimer |
of |
The company has emerged |
|
|
2 |
Provision |
Opinion |
from CIRP and, in order to |
|
declare dividends out of the |
|||
|
3 |
Unverified Bank Balances |
Disclaimer of |
These bank accounts have |
|
4 |
Impairment of Investments |
Disclaimer of |
The Company has sought and |
|
5 |
Write-off of Property, Plant, and |
Disclaimer of |
Post CIRP, the company has |
|
Sr No. |
Audit Qualification |
Type of Audit |
Comment of the Board on |
|
1 |
Unaudited Subsidiary Financials |
Disclaimer of |
The financial statements |
|
Unverified Book Profit and Revenue |
Disclaimer of |
The object of the company |
|
2 |
(Parent Company) |
Opinion |
was changed on 25th March |
|
3 |
Appropriateness of Dividend |
Disclaimer of |
The company has emerged |
|
4 |
Unverified Bank Balances |
Disclaimer of |
These bank accounts have |
|
5 |
Write-off of Property, Plant, and |
Disclaimer of |
Post CIRP, the company has |
The Statutory Auditors have not reported any incident of fraud to the Audit Committee of the
Company during the financial year under review.
b) Secretarial Auditors
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has
appointed M/s. J. D. Khatnani and Associates, Company Secretaries in Practice (C. P. No. 19772) to
undertake the Secretarial Audit of the Company. The Report of the Secretarial Audit Report in the
prescribed Form MR-3 is annexed in this Annual Report. The same does not contain any
qualification, reservation or adverse remark in the report submitted Practicing Company
Secretaries.
c) Internal Auditors
Your Company has an effective internal control and risk-mitigation system, which are constantly
assessed and strengthened with new/revised standard operating procedures. The Company''s
internal control system is commensurate with its size, scale and complexities of its operations. The
internal and operational audit is entrusted to M/s. PSG AND ASSOCIATES, Chartered Accountant
(FRN - 133773W). The main thrust of internal audit is to test and review controls, appraisal of
risks and business processes, besides benchmarking controls with best practices in the industry.
The Audit Committee of the Board of Directors actively reviews the adequacy and effectiveness of
the internal control systems and suggests improvements to strengthen the same. The Company has
a robust Management Information System, which is an integral part of the control mechanism.
The Audit Committee of the Board of Directors, Statutory Auditors and the Key Managerial
Personnel are periodically apprised of the internal audit findings and corrective actions taken.
Audit plays a key role in providing assurance to the Board of Directors. Significant audit
observations and corrective actions taken by the management are presented to the Audit
Committee of the Board. To maintain its objectivity and independence, the Internal Audit function
reports to the Chairman of the Audit Committee.
d) Cost Auditors
The provisions of Cost Audit and Records as prescribed under Section 148 of the Act are not
applicable to the Company.
EXTRACT OF ANNUAL RETURN
Pursuant to the provisions of Section 134(3)(a) of the Companies Act, 2013, extract of the Annual
Return for the financial year ended 31st March, 2026 made under the provisions of Section 92(3) of the
Act will be available on Company website link https://www.alkaindia.in/.
DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION & REDRESSAL) ACT 2013 READ WITH RULES
Pursuant to the requirements of Section 22 of Sexual Harassment of Women at Workplace (Prevention,
Prohibition & Redressal) Act 2013 read with Rules thereunder, this is to certify and declare that there
was no case of sexual harassment during the year under review. Neither there was a case pending at the
opening of Financial Year, nor has the Company received any Complaint during the year.
STATUTORY INFORMATION AND OTHER DISCLOSURES
The information regarding Conservation of Energy, Technology Absorption, Adoption and Innovation,
as defined under section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies
(Accounts) Rules, 2014, is reported to be NIL.
The Disclosure required under Section 197(12) of the Act read with the Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, is annexed as Annexure ''III''
and forms an integral part of this Report. A statement comprising the names of top employees in terms
of remuneration drawn and every person employed throughout the year, who were in receipt of
remuneration in terms of Rule 5(2) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 is annexed as Annexure ''V'' and forms an integral part of this annual report. The
above Annexure is not being sent along with this annual report to the members of the Company in line
with the provisions of Section 136(1) of the Act. Members who are interested in obtaining these
particulars may write to the Company Secretary at the Registered Office of the Company. The aforesaid
Annexure is also available for inspection by Members at the Registered Office of the Company, 21 days
before and up to the date of the ensuing Annual General Meeting during the business hours on working
days.
None of the employees listed in the said Annexure is a relative of any Director of the Company. None of
the employees hold (by himself or along with his spouse and dependent children) more than two
percent of the Equity Shares of the Company.
CORPORATE SOCIAL RESPONSIBILITY
As per the provisions of Section 135 of the Companies Act, 2013, read with rules framed there under,
every company including its holding or subsidiary and a foreign company, which fulfills the criteria
specified in sub section (1) of Section 135 of the Act shall comply with the provisions of Section 135 of
the Act and its rules.
Since the Company is not falling under any criterial specified in sub section (1) of Section 135 of the Act,
your company is not required to constitute a Corporate Social Responsibility (âCSRâ) Committee.
BUSINESS RESPONSIBILITY REPORT
As the Company is not among top 500 or 1000 Companies by turnover on Stock Exchanges, the
disclosure of Report under of Regulation 34(2) of the Listing Regulations is not applicable to the
Company for the year under review.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The Company has not earned or used foreign exchange earnings/outgoings during the year under
review.
PUBLIC DEPOSITS
During the Financial Year under review, the Company has neither invited nor accepted any deposits
within the meaning of Section 73 and 74 of the Companies Act, 2013 read with Companies (Acceptance
of Deposit) Rules, 2014 other than exempted Deposits as prescribed under the Companies Act, 2013.
As such, no specific details prescribed in Rule 8 of the Companies (Accounts) Rules, 2014 (as amended)
are required to be given or provided.
MAINTENANCE OF COST RECORDS
The maintenance of cost records for the services rendered by the Company is not required pursuant to
Section 148(1) of the Companies Act, 2013 read with Rule 3 of Companies (Cost Records and Audit)
Rules, 2014.
AUDITORS REPORT
The Notes on Financial Statement referred in the Auditors'' Report are self-explanatory and do not call
for any further comments. The Auditor has issued a modified report (disclaimer of opinion) for the
Financial Year 2025-26.
REPORTING OF FRAUDS BY AUDITORS
During the year under review, the Statutory Auditors and the Secretarial Auditors have not reported
any instances of frauds committed in the Company by its officers or employees of Audit Committee
under Section 143(12) of the Companies Act, 2013, details of which needs to be mentioned in this
Report.
REPORT ON CORPORATE GOVERNANCE
As per Regulation 34(3) read with Schedule V of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, a separate section on corporate governance practices followed by the
Company, together with a certificate from the Company''s Auditors confirming compliance forms an
integral part of this Report as Annexure IV.
ANNUAL SECRETARIAL COMPLIANCE REPORT
A report on secretarial compliance by M/s J.D. Khatnani & Associates, Company Secretaries for the FY
2025-26 will be submitted with the stock exchange.
APPOINTMENT OF âDESIGNATED PERSONSâ FOR FURNISHING INFORMATION TO THE
REGISTRAR OF COMPANIES OR ANY OTHER AUTHROTIY WITH RESPECT TO BENEFICIAL
INTERESTS IN THE SHARES OF THE COMPANY
During the Financial year under review, the Company has appointed Mr. Karnik Shasankan Pillai
(DIN: 08529650), Managing Director of the Company, as the âDesignated Personâ responsible for
furnishing and extending co-operation for providing information to the concerned Registrar of
Companies or any other authorized officer with respect to beneficial interest in shares of Company
under the Act.
GENDER-WISE COMPOSITION OF EMPLOYEES
In alignment with the principles of diversity, equity, and inclusion (DEI), the Company discloses below
the gender composition of its workforce as on the March 31, 2026.
Male Employees: 2
Female Employees: 1
Transgender Employees: 0
This disclosure reinforces the Company''s efforts to promote an inclusive workplace culture and equal
opportunity for all individuals, regardless of gender.
DOWNSTREAM INVESTMENT
The Company neither have any Foreign Direct Investment (FDI) nor invested as any Downstream
Investment in any other Company in India.
AUDIT TRAIL APPLICABILITY (AUDIT AND AUDITORS) RULES 2014 - RULE 11 OF THE
COMPANIES ACT 2013.
The Company has maintained its books of account for the financial year ended March 31, 2026, using an
accounting software that incorporates an audit trail (edit log) feature. This facility ensures that all
relevant transactions recorded in the software are tracked, with details of any additions, modifications,
or deletions, providing transparency and accountability in accordance with the requirements of Rule 11
of the Companies (Audit and Auditors) Rules, 2014.
COMPLIANCE WITH SECRETARIAL STANDARDS
The Board of Directors affirms that the Company has complied with the applicable mandatory
Secretarial Standards issued by the Institute of Company Secretaries of India.
OTHER DISCLOSURE
During the financial Year Under Review, disclosure with respect to details of difference between
amount of the valuation done at the time of onetime settlement and the valuation done while taking
loan from the banks or financial institutions along with the reason thereof is not applicable.
DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016
During the financial year under review, there were no applications made or proceedings pending in the
name of Company under the Insolvency and Bankruptcy Code, 2016.
DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT ON ONE TIME SETTLEMENT AND
VALUATION WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS
During the financial year under review, there has been no one time settlement of loans taken from the
Banks or Financial Institutions.
FAILURE TO IMPLEMENT ANY CORPORATE ACTION
The Company has not failed to complete or implement any corporate action between the end of the
Financial Year to which this Financial Statements relates and date of this Report.
CAUTIONARY STATEMENT
Statements in this Directors'' Report and Management Discussion and Analysis describing the
Company''s objectives, projections, estimates, expectations or predictions may be âforward-looking
statementsâ within the meaning of applicable securities laws and regulations. Actual results could differ
materially from those expressed or implied.
APPRECIATION
Your Directors wish to place on record their appreciation towards the contribution of all the employees
of the Company and their gratitude to the Company''s valued customers, bankers, vendors and members
for their continued support and confidence in the Company.
Date: 07th April, 2026
Place: Ahmedabad
By Order of the Board of Directors
For, Alka India Limited
Sd/-
Karnik Shasankan Pillai
Managing Director
DIN:08529650
Mar 31, 2025
Your Directors have pleasure in presenting the 31st Annual Report of your Company together
with the Audited Statements of Accounts for the year ended March 31, 2025:
(Amount in Lakhs)
|
Particulars |
Standalone |
Consolidated |
||
|
Year Ended |
Year Ended |
Year Ended |
Year Ended |
|
|
Revenue from Operations |
- |
- |
- |
- |
|
Other Income |
6.27 |
6.00 |
6.76 |
6.42 |
|
Total Revenue |
6.27 |
6.00 |
6.76 |
6.42 |
|
Cost of Raw Materials |
||||
|
Purchase of Stocks in Trade |
- |
- |
- |
- |
|
Changes in inventories of |
||||
|
Employee Benefits |
2.20 |
2.72 |
2.20 |
2.72 |
|
Finance Costs |
- |
- |
- |
- |
|
Depreciation and |
||||
|
Other Expenses |
48.65 |
24.34 |
48.84 |
24.50 |
|
Total Expenses |
50.85 |
27.06 |
51.04 |
27.22 |
|
Profit/(Loss) before tax |
(44.58) |
(21.06) |
(44.28) |
(20.80) |
|
Exceptional Items |
- |
(231.97) |
- |
(3.42) |
|
Tax Expense |
- |
- |
- |
- |
|
Net Profit/(Loss) after tax |
(44.58) |
(253.03) |
(44.28) |
(24.22) |
|
Other Comprehensive |
||||
|
Total Comprehensive |
(44.58) |
(253.03) |
(44.28) |
(24.22) |
STANDALONE FINANCIAL HIGHLIGHTS
For the financial year ended 31st March, 2025, your Company has reported Net Loss of ^ 44.58
Lakhs as compared to previous financial year 2023-24 Net Loss of ^ 253.03 Lakhs.
For the financial year ended 31st March, 2025, your Company has reported consolidated Net
Loss of ^ 44.28 Lakhs as compared to previous financial year 2023-24 Net Loss of ^ 24.22
Lakhs.
In a significant development, the Mumbai Bench of the National Company Law Tribunal
approved the Resolution Plan on February 7, 2025, concluding the Corporate Insolvency
Resolution Process (CIRP) initiated in December 2023 pursuant to the Insolvency and
Bankruptcy Code, 2016. During the period of CIRP, the company was managed by the
Resolution Professional and the new Board of Directors was constituted on 18th February,
2025 and took control of the affairs of the company.
DIVIDEND
In view of losses, your Directors do not propose any dividend for the year under review.
SHARE CAPITAL & LISTING
The paid up Equity Share Capital as on March 31, 2025 was Rs. 5000.00 Lakh.
During the year, the equity share capital of Rs. 1,343.98Lakhs was written off pursuant to
approved Resolution Plan vide Hon''ble NCLT, Mumbai Bench order dated February 07, 2025.
During the year under review, the Company has not issued any share with differential voting
rights; nor granted stock options nor sweat equity.
As on March 31, 2025, none of the Directors and/or Key Managerial Person of the Company
hold instruments convertible in to Equity Shares of the Company.
The Company''s Equity Shares are listed on the BSE Limited (âBSEâ]. The trading in Equity
Shares has been suspended due to the process of implementation of Resolution plan issued by
NCLT, Mumbai bench.
CORPORATE GOVERNANCE
Your directors believe that corporate governance is an ethically driven business process that is
committed to values aimed at enhancing the growth of your Company. The endeavour is to
continue and move forward as a responsible and sustainable Company in order to attract as
well as retain talents, investors and to maintain fulfilling relationships with the communities
and take all possible steps in the direction to re-write a new future for your Company.
We are committed to achieve the highest standards of ethics, transparency, corporate
governance and continue to comply with the code of conduct framed for the Board and senior
management under SEBI Listing Regulations and have maintained high standards of corporate
governance based on the principle of effective implementation of internal control measures,
adherence to the law and regulations and accountability at all levels of the organization.
Your Company''s corporate governance practices are driven by effective and strong Board
oversight, timely disclosures, transparent accounting policies and high levels of integrity in
decision making. The corporate governance report of the Company for the Year Under Review
as required under the applicable SEBI Listing Regulations is attached hereto and forms part of
this report. The requisite certificate from Practising Company Secretary, M/s JV Wadhwani &
Associates, confirming compliance with the conditions of corporate governance is attached to
the corporate governance report.
GENERAL RESERVES
The General Reserve is used from time to time to transfer profits from retained earnings for
appropriation purposes. As the General reserve is created by a transfer from one component of
equity to another and is not an item of other comprehensive income, items included in the
General reserve will not be reclassified subsequently to the statement of profit and loss.
FINANCE AND ACCOUNTS
As mandated by the Ministry of Corporate Affairs, the financial statements for the year ended
on March 31, 2025 has been prepared in accordance with the Indian Accounting Standards
(IND AS] notified under Section 133 of the Companies Act, 2013 read with the Companies
(Accounts) Rules, 2014. The estimates and judgements relating to the Financial Statements are
made on a prudent basis, so as to reflect in a true and fair manner, the form and substance of
transactions and reasonably present the Company''s state of affairs, profits/(losses) and cash
flows for the year ended March 31, 2025.
Accounting policies have been consistently applied except where a newly issued accounting
standard, if initially adopted or a revision to an existing accounting standard requires a change
in the accounting policy hitherto in use. Management evaluates all recently issued or revised
accounting standards on an ongoing basis. The Company discloses standalone and consolidated
financial results on a quarterly basis which are subjected to limited review and publishes
standalone and consolidated audited financial results on an annual basis.
The Company continues to focus on judicious management of its working capital, receivables,
inventories and other working capital parameters were kept under strict check through
continuous monitoring.
The auditor is issued modified report (Standalone and consolidated) for the financial year
under review.
BUSINESS SEGMENT
Your Company is into the business of Textile.
PARTICULARS OF LOANS, GUARANTEES & INVESTMENTS
Details of Loans, Guarantees and Investments, if any, covered under the provisions of Section
186 of the Companies Act, 2013 are given in the notes to the Financial Statements.
ANNUAL RETURN
In accordance with Section 92(3) and Section 134(3) (a) of the Companies Act, together with
Rule 12 of the Companies (Management and Administration) Rules, 2014, we are pleased to
announce that the Annual Return (MGT-7) of the Company as of March 31, 2024, was not filed
as the company was under CIRP and under the purview of Resolution Professional.
DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES
The Company has one material subsidiary, Vintage FZE (India) Private Limited, whose net
worth exceeds 20% of the consolidated net worth of the holding company in the immediately
preceding accounting year or has generated 20% of the consolidated income of the Company
during the previous financial year. The company holds 71.34% shares of the said company.
Further, the details are provided in Form AOC-1 attached herewith.
In accordance with the provisions of the SEBI Listing Regulations, the Company has in place the
Policy on material subsidiaries which is available on its website at the link:
https://www.alkaindia.in/wp-content/uploads/2026/01/Policy-for-Determining-Material-Su
bsidiaries.pdf
RELATED PARTY TRANSACTIONS
There is no material modification for RPT during the year under review hence do not attract
the provisions of Section 188 of the Companies Act, 2013. There were no materially significant
transactions with the related parties during the financial year, which were in conflict with the
interest of the Company. The requisite details under Form AOC-2 have been provided as an
Annexure to this Director''s Report. Suitable disclosure as required by the Accounting Standard
(Ind-AS 24) has been made in the notes to the Financial Statements.
The Company has put in place a mechanism for certifying the Related Party Transactions
Statements placed before the Audit Committee and the Board of Directors.
The Policy on Related Party Transactions as approved by the Board of Directors has been
uploaded on the website of the Company. None of the Directors has any pecuniary relationship
or transactions vis-a-vis the Company except remuneration and sitting fees.
In accordance with the provisions of the SEBI Listing Regulations, the Company has in place the
Policy on dealing with Related Party Transactions which is available on its website at the link:
https://www.alkaindia.in/wp-content/uploads/2025/11/Policy-on-Materiality-of-Related-Pa
rty-Transactions-and-on-Dealing-with-Related-Party-Transaction.pdf
MANAGEMENT DISCUSSION & ANALYSIS
The Management Discussion and Analysis on the operations of the Company as prescribed
under Part B of Schedule V read with regulation 34(3] of the Listing Regulations, 2015 is
provided as Annexure I and forms part of the Directors'' Report.
MATERIAL CHANGES AFFECTING THE COMPANY
There is no material change affecting the Company during the financial year.
CHANGE IN NATURE OF BUSINESS, IF ANY
There are no changes in the nature of business in the financial year 2024-25.
BOARD EVALUATION
The Board/RP conducted an informal evaluation of performance during the transitional phase.
A formal evaluation under Regulation 17(10] was deferred to FY 2025-26 due to the late
reconstitution.
MEETING OF THE INDEPENDENT DIRECTORS
As the management of the company was under the control of Resolution Professional, there
was no Independent Directors Meeting held in the FY 2024-25.
NUMBER OF MEETINGS OF THE BOARD
During the Financial Year 2024-25 no Board Meetings were held as the company was under Corporate
Insolvency Resolution Process (CIRP) till 07th February, 2025 and pursuant to that Implementation and
Monitoring Committee was overseeing the process of the effective implementation of the approved
resolution plan.
BOARD COMMITTEES
All Committees of the Board of Directors are constituted in line with the provisions of the
Companies Act, 2013 and applicable regulations of SEBI (Listing Obligations and Disclosure
Requirements] Regulations, 2015.
MANAGEMENT
There is a change in management of the Company post completion of CIRP Process as per
direction issued by NCLT, Mumbai bench. The detail of new management has been provided
elsewhere in the Annual Report.
DIRECTORS
For most of FY 2024-25, the powers of the Board were suspended under Section 17 of the
Insolvency and Bankruptcy Code, and vested with the Resolution Professional, Mr.
Dharmendra Dhelariya. Following NCLT''s approval of the resolution plan on February 7, 2025,
a Monitoring Committee was formed to oversee implementation. The Committee appointed a
new Board w.e.f. February 18, 2025, marking the end of the suspended Board period.
As on March 31, 2025, the Board comprised 4 directors, with a balanced mix of executive and
independent directors, complying with Regulation 17 of SEBI LODR (at least 50% independent
directors for a non-chairman executive-led board]. None of the directors hold positions
exceeding the limits under Regulation 17A of SEBI LODR Regulations, 2015. All independent
directors provided declarations under Section 149(6] of the Companies Act, 2013, confirming
their independence.
Following are the details of changes in Board during the year till December 31, 2025 -
|
Name of Director |
Category |
DIN |
Date of |
Date of |
|
Mr. Karnik Shasankan |
Managing Director & |
08529650 |
18-02-2025 |
- |
|
Mr. Jatinbhai |
Executive Director |
06973337 |
18-02-2025 |
- |
|
Mr. Rajesh Chinubhai |
Non-executive & |
02102686 |
18-02-2025 |
- |
|
Ms. Komal |
Non-executive & |
10226691 |
18-02-2025 |
|
|
Ms. Avani Patel |
Non-executive & |
10673040 |
18-02-2025 |
06-03-2025 |
|
Ms. Himali |
Non-executive & |
10752931 |
12-04-2025 |
- |
|
Mr. Sagar Kumar |
Non-executive & |
11225507 |
07-08-2025 |
- |
|
Mr. Satish R. |
Managing Director |
00042934 |
- |
18-02-2025 |
|
Mr. Ashok R. |
Non-Executive - |
00377391 |
- |
18-02-2025 |
|
Mr. Ramakant G. |
Executive Director |
03636385 |
- |
18-02-2025 |
|
Mr. Alok Jain |
Non-Executive - |
07943366 |
- |
18-02-2025 |
|
Mr. Mohammmed |
Non-Executive - |
08093616 |
- |
18-02-2025 |
|
Ms. Hiramani |
B. |
Non-Executive - |
08168142 |
- |
18-02-2025 |
|
Sharma |
Independent Director |
The details of programme for familiarization of Independent Directors with the Company,
nature of the business segments in which the Company operates and related matters are put
up on the website of the Company at
https://www.alkaindia.in/wp-content/uploads/2025/11/Familiarization-Programme.pdf .
However, as the board was suspended during the year, no programme of familiarization was
held.
In the opinion of the Board, the Independent Directors possess the requisite expertise and
experience and are the persons of high integrity and repute.
They fulfill the conditions specified in the Companies Act, 2013 and the Rules made thereunder
and are independent of the management.
Further, none of the Directors of the Company are disqualified under sub-section (2] of Section
164 of the Companies Act, 2013.
DIRECTOR RETIRING BY ROTATION
Pursuant to the provisions of Section 152(6] of the Companies Act, 2013, Mr. Karnik Shasankan
Pillai, Managing Director of the Company, retires by rotation at the ensuing annual general
meeting and being eligible offers himself for re-appointment. He has given a declaration in
terms of Section 164(2] of the Companies Act, 2013 to the effect that he is not disqualified from
being reappointed as a Director of the Company.
INDEPENDENT DIRECTORS & KMPs
As per provisions of Section 149 of the 2013 Act, independent directors shall hold office for a
term up to five consecutive years on the board of a company, but shall be eligible for
re-appointment for another term up to five years on passing of a special resolution by the
company and disclosure of such appointment in Board''s Report. Further Section 152 of the Act
provides that the independent directors shall not be liable to retire by rotation in the Annual
General Meeting (''AGM'') of the Company.
As per requirements of Regulation 25 of Listing Regulations, a person shall not serve as an
independent director in more than seven listed entities: provided that any person who is
serving as a whole time director in any listed entity shall serve as an independent director in
not more than three listed entities. Further, independent directors of the listed entity shall hold
at least one meeting in a year, without the presence of non-independent directors and
members of the management and all the independent directors shall strive to be present at
such meeting.
In the opinion of the Board, the Independent Directors possess the requisite expertise and
experience and are the persons of high integrity and repute. They fulfil the conditions specified
in the Companies Act, 2013 and the Rules made thereunder and are independent of the
management.
Independent Directors have confirmed that they have complied with the Company''s Code of
Business Conduct & Ethics.
Change in the composition of Board and KMP during the current financial has been provided
herein below:
|
Name |
Category |
Date of Appointment |
Date of |
|
|
Mr. Karnik Shasankan |
Managing Director |
& |
18-02-2025 |
- |
|
Mr. Jatinbhai Ramanbhai |
Executive Director |
18-02-2025 |
- |
|
|
Mr. Rajesh Chinubhai |
Non-executive |
& |
18-02-2025 |
- |
|
Ms. Komal Manoharlal |
Non-executive |
& |
18-02-2025 |
|
|
Ms. Avani Patel |
Non-executive |
& |
18-02-2025 |
06-03-2025 |
|
Mr. Satish R. Panchariya |
Managing Director |
- |
18-02-2025 |
|
|
Mr. Ashok R. Panchariya |
Non-Executive |
- |
- |
18-02-2025 |
|
Mr. Ramakant G. Sharma |
Executive Director |
- |
18-02-2025 |
|
|
Mr. Alok Jain |
Non-Executive |
- |
- |
18-02-2025 |
|
Mr. Mohammmed Hashim |
Non-Executive |
- |
- |
18-02-2025 |
|
Ms. Hiramani B. Sharma |
Non-Executive |
- |
- |
18-02-2025 |
|
Mr. Hemant Anant |
Chief Financial Officer |
- |
18-02-2025 |
|
|
Ms. Heena Bedi |
Company Secretary |
& |
- |
18-02-2025 |
|
Mr. Harshkumar Kalidas |
Chief Financial Officer |
18-02-2025 |
- |
|
|
Mrs. Jinal Dishank Shah |
Company Secretary |
& |
18-02-2025 |
- |
DECLARATION BY INDEPENDENT DIRECTOR(S) AND RE-APPOINTMENT, IF ANY
All the Independent Directors have submitted their disclosures to the Board that they fulfil all
the requirements as stipulated in Section 149(6] of the Companies Act, 2013 and Regulation
16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements] Regulations, 2015, so
as to qualify themselves to be appointed as Independent Directors under the provisions of the
Companies Act, 2013 and the relevant rules. In terms of Regulation 25(8] of Listing
Regulations, they have confirmed that they are not aware of any circumstance or situation
which exists or may be reasonably anticipated that could impair or impact their liability to
discharge their duties. Based on the declaration received from Independent Directors, the
Board of Directors have confirmed that they meet the criteria of Independence as mentioned
under Section 149 of the Companies Act, 2013 and Regulation 16(1)(b) of Listing Regulations
and they are independent of the management.
PERFORMANCE EVALUATION
The company was under the Corporate Insolvency Resolution Process till 07th February, 2025.
The new board was constituted on 18th February 2025 in the Implementation and Monitoring
Committee pursuant to the approved Resolution Plan. After that, no meeting of board or
committee was held. Hence, there was no formal performance evaluation conducted during FY
2024-25.
FAMILIARISATION PROGRAM FOR DIRECTORS
As a practice, all new directors (including independent directors] inducted to the Board are
given a formal orientation.
The familiarization programme for the independent directors is customised to suit their
individual interests and area of expertise. The directors are usually encouraged to interact with
members of senior management as part of the induction programme. The senior management
make presentations giving an overview of the Company''s strategy, operations, products,
markets and group structure, Board constitution and guidelines, and the major risks and risk
management strategy. This enables the directors to get a deep understanding of the Company,
its people, values and culture and facilitates their active participation in overseeing the
performance of the management.
The details of the familiarization program conducted during the Year Under Review can be
accessed from Company website
https://www.alkaindia.in/wp-content/uploads/2025/11/Familiarization-Programme.pdf.
NOMINATION & REMUNERATION POLICY
The Company has devised a Nomination and Remuneration Policy (âNRC Policyâ] which inter
alia sets out the guiding principles for identifying and ascertaining the integrity, qualification,
expertise and experience of the person for the appointment as directors, key managerial
personnel (âKMPsâ) and senior management personnel (âSMPsâ). The NRC Policy has been
framed with the objective
a. to ensure that appointment of directors, KMPs and SMPs and their removals are in
compliances with the applicable provisions of the Companies Act, 2013 and the SEBI Listing
Regulations;
b. to set out criteria for the evaluation of performance and remuneration of directors, KMPs
and SMPs;
c. to adopt best practices to attract and retain talent by the Company; and
d. to ensure diversity of the Board of the Company
The NRC Policy specifies the manner of effective evaluation of performance of Board, its
committees and individual directors to be carried out either by the Board, by the Nomination
and Remuneration Committee or by an independent external agency and review its
implementation and compliance. During the Year Under Review, there has been no change in
the NRC Policy.
The NRC Policy of the Company can be accessed at the website of the Company at
https://www.alkaindia.in/wp-content/uploads/2025/11/Nomination-and-Remuneration-Poli
cy.pdf
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, TRIBUNALS OR
COURTS
Following are the details of Orders passed by Regulators, Tribunals or Courts - NCLT, Mumbai
bench vide its order dated 07th February 2025, has issued directions for change in management
as well as reduction in Capital. The new management has taken charge of the Company has
infused fresh Capital as well implementation of reduction in Capital as per directions issued in
said NCLT order.
CORPORATE INSOLVENCY RESOLUTION PROCESS (CIRP):
The resolution plan issued by honorable NCLT, Mumbai bench has been successfully
implemented. Change in management has already been implemented and also the fresh Capital
has been infused. The Company has received listing approval from BSE and has filed an
application for Trading approval from BSE.
MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN
THE END OF THE FINANCIAL YEAR AND DATE OF REPORT
Since the Company was under CIRP process and has recently been taken over by the new
management and the new management is unable to comment in this matter.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 134(5] of the Companies Act, 2013 the Board of Directors
confirms that:
1. In the preparation of the annual accounts, for the year ended 31st March 2025, all the
applicable accounting standards prescribed by the Institute of Chartered Accountants of India
have been followed along with proper explanation relating to material departures, if any;
2. 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 as at March 31, 2025 and of the losses of the Company for
the year ended on that date;
3. that the Directors have 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;
4. that the Directors had prepared the annual accounts on a going concern basis;
5. that 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; and
6. that 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.
BUSINESS RISK MANAGEMENT
The investment in Stock Market have the risk of change in the price and value, both in term of
up and down and thus can affect the profitability of the Company. Risk management is
embedded in your Company''s operating framework. Your Company believes that managing
risks helps in maximizing returns. The Company''s approach to addressing business risks is
comprehensive and includes periodic review of such risks and a framework for mitigating
controls and reporting mechanism of such risks. The risk management framework is reviewed
periodically by the Board and the Audit Committee. Further, the Company is not required to
constitute Risk Management Committee under Listing Regulations, 2015.
INTERNAL AUDIT AND INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY
Based on the framework of internal financial controls and compliance systems established and
maintained by the Company, the work performed by the internal, statutory and secretarial
auditors and external consultants, including the audit of internal financial controls over
financial reporting by the statutory auditors and the reviews performed by management and
the relevant board committees, including the audit committee, the Board is of the opinion that
the Company''s internal financial controls were adequate and effective during FY 2024-25.
VIGIL MECHANISM / WHISTLE BLOWER POLICY
The Company has a Whistle Blower Policy to report genuine concerns or grievances. The
Whistle Blower Policy has been posted on the website of the Company i.e.
https://www.alkaindia.in/wp-content/uploads/2025/11/Whistle-Blower-Policy.pdf
AUDITORS
Statutory Auditors & Auditors'' Report
The Audit Report issued by M/s. Amit Ramakant & Co. (FRW: 009184C] on the financial
statements for the financial year 2024-25 forms part of the Annual Report. The notes to the
financial statements, as referred to in the Auditor''s Report, are self-explanatory and do not
require any further clarification or comment.
Further, the Board of Directors in its meeting held on Thursday i.e. July 24, 2025, approved the
appointment of M/s. J M Patel & Bros, Chartered Accountants (Firm Registration No.
107707W) as the Statutory auditor of the Company for a period of five years from financial
Year 2025-26 to financial year 2029-30, subject to approval of shareholders in ensuing Annual
General Meeting of the company.
The Auditor has carried out statutory Audit of the standalone and consolidated financials and
has issued a modified opinion (disclaimer of opinion).
Secretarial Auditors
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has
appointed M/s. J.V. Wadhwani and Associates, Company Secretaries in Practice (C. P. No.
19772) to undertake the Secretarial Audit of the Company. The Report of the Secretarial Audit
Report in the prescribed Form MR-3 is annexed in this Annual Report as Annexure II. The same
does not contain any qualification, reservation or adverse remark in the report submitted
Practicing Company Secretaries.
In addition to the above and pursuant to SEBI circular dated 8 th February 2019, a report on
secretarial compliance by CS Jaikishan Vasdev Wadhwani for the FY 2024-25 has been
submitted with stock exchanges.
Internal Auditors
Your Company has an effective internal control and risk-mitigation system, which are
constantly assessed and strengthened with new/revised standard operating procedures. The
Company''s internal control system is commensurate with its size, scale and complexities of its
operations. The internal and operational audit is entrusted to M/s. PSG AND ASSOCIATES,
Chartered Accountant (FRN - 133773W). The main thrust of internal audit is to test and review
controls, appraisal of risks and business processes, besides benchmarking controls with best
practices in the industry.
The Audit Committee of the Board of Directors actively reviews the adequacy and effectiveness
of the internal control systems and suggests improvements to strengthen the same. The
Company has a robust Management Information System, which is an integral part of the
control mechanism.
The Audit Committee of the Board of Directors, Statutory Auditors and the Key Managerial
Personnel are periodically apprised of the internal audit findings and corrective actions taken.
Audit plays a key role in providing assurance to the Board of Directors. Significant audit
observations and corrective actions taken by the management are presented to the Audit
Committee of the Board. To maintain its objectivity and independence, the Internal Audit
function reports to the Chairman of the Audit Committee.
EXTRACT OF ANNUAL RETURN
Pursuant to the provisions of Section 134(3](a] of the Companies Act, 2013, extract of the
Annual Return for the financial year ended 31st March, 2025 made under the provisions of
Section 92(3] of the Act will be available on Company website link https://www.alkaindia.in/
DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION & REDRESSAL) ACT 2013 READ WITH RULES
Pursuant to the requirements of Section 22 of Sexual Harassment of Women at Workplace
(Prevention, Prohibition & Redressal] Act 2013 read with Rules thereunder, this is to certify
and declare that there was no case of sexual harassment during the year under review. Neither
there was a case pending at the opening of Financial Year, nor has the Company received any
Complaint during the year.
STATUTORY INFORMATION AND OTHER DISCLOSURES
The information regarding Conservation of Energy, Technology Absorption, Adoption and
Innovation, as defined under section 134(3)(m) of the Companies Act, 2013 read with Rule
8(3] of the Companies (Accounts] Rules, 2014, is reported to be NIL.
The Disclosure required under Section 197(12] of the Act read with the Rule 5(1] of the
Companies (Appointment and Remuneration of Managerial Personnel] Rules, 2014, is annexed
as Annexure ''III'' and forms an integral part of this Report. A statement comprising the names
of top employees in terms of remuneration drawn and every person employed throughout the
year, who were in receipt of remuneration in terms of Rule 5(2] of the Companies
(Appointment and Remuneration of Managerial Personnel] Rules, 2014 is annexed as
Annexure ''V'' and forms an integral part of this annual report. The above Annexure is not being
sent along with this annual report to the members of the Company in line with the provisions
of Section 136(1] of the Act. Members who are interested in obtaining these particulars may
write to the Company Secretary at the Registered Office of the Company. The aforesaid
Annexure is also available for inspection by Members at the Registered Office of the Company,
21 days before and up to the date of the ensuing Annual General Meeting during the business
hours on working days.
None of the employees listed in the said Annexure is a relative of any Director of the Company.
None of the employees hold (by himself or along with his spouse and dependent children]
more than two percent of the Equity Shares of the Company.
BUSINESS RESPONSIBILITY REPORT
As the Company is not among top 500 or 1000 Companies by turnover on Stock Exchanges, the
disclosure of Report under of Regulation 34(2] of the Listing Regulations is not applicable to
the Company for the year under review.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The Company has not earned or used foreign exchange earnings/outgoings during the year
under review.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted any deposit from the public
falling within the ambit of Section 73 of the Companies Act, 2013 and The Companies
(Acceptance of Deposits] Rules, 2014.
MAINTENANCE OF COST RECORDS
The maintenance of cost records for the services rendered by the Company is not required
pursuant to Section 148(1] of the Companies Act, 2013 read with Rule 3 of Companies (Cost
Records and Audit] Rules, 2014.
AUDITORS REPORT
The Notes on Financial Statement referred in the Auditors'' Report are self-explanatory and do
not call for any further comments. The Auditor has issued a modified report (disclaimer of
opinion] for the Financial Year 2024-25.
REPORTING OF FRAUDS BY AUDITORS
During the year under review, the Statutory Auditors and the Secretarial Auditors have not
reported any instances of frauds committed in the Company by its officers or employees of
Audit Committee under Section 143(12] of the Companies Act, 2013, details of which needs to
be mentioned in this Report.
REPORT ON CORPORATE GOVERNANCE
As per Regulation 34(3] read with Schedule V of the SEBI (Listing Obligations and Disclosure
Requirements] Regulations, 2015, a separate section on corporate governance practices
followed by the Company, together with a certificate from the Company''s Auditors confirming
compliance forms an integral part of this Report as Annexure IV.
GENDER-WISE COMPOSITION OF EMPLOYEES
In alignment with the principles of diversity, equity, and inclusion (DEI], the Company
discloses below the gender composition of its workforce as on the March 31, 2025.
Male Employees: 3
Female Employees: 1
Transgender Employees: 0
This disclosure reinforces the Company''s efforts to promote an inclusive workplace culture
and equal opportunity for all individuals, regardless of gender.
DOWNSTREAM INVESTMENT
The Company neither have any Foreign Direct Investment (FDI) nor invested as any
Downstream Investment in any other Company in India.
AUDIT TRAIL APPLICABILITY (AUDIT AND AUDITORS) RULES 2014 - RULE 11 OF THE
COMPANIES ACT 2013.
Accounting Software for maintaining its books of account for the financial year ended March
31, 2025 was used which has a feature of recording audit trail (edit log) facility for all relevant
transactions recorded in the software.
The Company, Alka India Limited, was undergoing Corporate Insolvency Resolution Process
(CIRP) and has been revived pursuant to an approved Resolution Plan. During the previous
financial year, the management and control of the Company were under the supervision of the
Resolution Professional.
Therefore, for the financial year ended March 31, 2025 the Board is unable to comment on
effectiveness of the audit trail.
The new management which was appointed on 18.02.2025 as per the resolution plan dated
February 07, 2025, endeavours to comply with the said rule hereafter.
COMPLIANCE WITH SECRETARIAL STANDARDS
The Board of Directors affirms that the Company has complied with the applicable mandatory
Secretarial Standards issued by the Institute of Company Secretaries of India.
OTHER DISCLOSURE
During the financial Year Under Review, disclosure with respect to details of difference
between amount of the valuation done at the time of one time settlement and the valuation
done while taking loan from the banks or financial institutions along with the reason thereof is
not applicable.
GENERAL
During the year, there were no transaction, other than those disclosed in the Report, requiring
disclosure or reporting in respect of matters relating to:
(a) details relating to deposits covered under Chapter V of the Act;
(b) issue of equity shares with differential rights as to dividend, voting or otherwise;
(c) issue of shares (including sweat equity shares) to employees of the Company under any
scheme;
(d) raising of funds through preferential allotment or qualified institutions placement;
(e) significant or material order passed by the Regulators or Courts or Tribunals which impact
the going concern status and Company''s operations in future;
(f) pendency of any proceeding under the Insolvency and Bankruptcy Code, 2016; and
(g) instance of one-time settlement with any bank or financial institution.
CAUTIONARY STATEMENT
Statements in this Directors'' Report and Management Discussion and Analysis describing the
Company''s objectives, projections, estimates, expectations or predictions may be
âforward-looking statementsâ within the meaning of applicable securities laws and regulations.
Actual results could differ materially from those expressed or implied.
APPRECIATION
Your Directors wish to place on record their appreciation towards the contribution of all the
employees of the Company and their gratitude to the Company''s valued customers, bankers,
vendors and members for their continued support and confidence in the Company.
By Order of the Board of Directors
For Alka India Limited
Date: December 31, 2025
Place: Ahmedabad
Karnik Shasankan Pillai
Managing Director
Registered Office: DIN: 08529650
Gala No. D- 3/4/5, Hatkesh Udyog Nagar-1,
Off. Mira Bhayandar Road, Gcc Road,
Mira Near Hatkesh Substation
Thane - 401 107, Mira Road, Maharashtra, India
Corporate Office:
A 1115 Titanium Business Park,
Near Makarba Underpass, Jivraj Park,
Ahmedabad, Ahmadabad City, Gujarat, India, 380051
CIN: L99999MH1993PLC168521
E-mail Id: [email protected]
Sep 30, 2014
Dear Members,
The Directors have pleasure in presenting the 21st Annual Report
together with the Audited Statement of Accounts for the year ended 30th
September, 2014.
FINANCIAL RESULTS:
The working results of the Company for the year ended on 30th
September, 2014 are as follows:
Year Ended On Year Ended On
30.09.2014 30.09.2013
Rs. Rs.
Net  Profit/Loss (14,062,055) (5,478,885)
Less : Depreciation 1,807,849 1,640,753
Profit/(Loss) before Taxation (15,869,904) (7,119,638)
(PBT)
Less : Provision for Income Tax NIL NIL
Less : Deferred Tax Adjustments NIL NIL
Less: Provision for Fringe Benefit Tax NIL NIL
Profit/ (Loss) After Tax (PAT) (15,869,904) (7,119,638)
Add : Profit/(Loss) brought forward (232,210,222) (225,090,584)
Add: Transfer from General Reserve NIL NIL
Add: Prior Year Adjustments. NIL NIL
Surplus/(Deficit) (248,080126) (232,210,222)
APPROPRIATIONS:
Year Ended On Year Ended On
30.09.2014 30.09.2013
Rs. Rs.
Profit/(Loss) carried to Balance Sheet (248,080126) (232,210,222)
Total (248,080126) (232,210,222)
DIVIDEND:
Your directors do not recommend dividend for the year 2013-2014.
OPERATIONS:
Your Directors are confident in recording a sustainable growth in the
operation during the current year.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, AND FOREIGN EXCHANGE
EARNING AND OUTGO:
A. CONSUMPTION OF ENERGY & TECHNOLOGY ABSORPTION:
The details as required under section 217 (1)(e) of the Companies
Act,1956 read with the Companies (Disclosure of Particulars in the
Report of Board of Directors ) Rules,1988 in respect of Conservation of
Energy, Technology Absorption are not applicable.
B FOREIGN EXCHANGE EARNING & OUTGO:
Current Year Previous Year
a) Earning Nil Nil
b) Outgo Nil Nil
DIRECTORATE:
During the year under review Mr. Anant Sharma retire by rotation as
Director of the company at the ensuing Annual General Meeting and being
eligible, offers himself for re -appointment.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217 (2AA) of the Companies Act, 1956, your
Directors confirm the following:
1. In the preparation of the annual accounts, the Accounting Standards
to the extent applicable had been followed along with proper
explanations relating to material departures.
2. Adequate accounting policies had been selected and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give true and fair view of the state of affairs of the
Company at the end of financial year and of the profit of the Company
for the period.
3. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with provisions of this Act,
for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities.
4. The Annual Accounts have been prepared for the financial year ended
30th September, 2014 on a going concern basis.
PARTICULARS OF EMPLOYEES:
During the year, there were no employees whose information is required
to be given as per Section 217(2A) read with the Companies (Particular
of Employees) Rules, 1975 as amended.
REPORT ON CORPORATE GOVERNANCE:
A detailed report on Corporate Governance is annexed to this Annual
Report. The Company has complied with the conditions of corporate
governance as stipulated in clause 49 of the listing agreement. The
certificate obtained from the auditors of the Company regarding
compliance of conditions is annexed to this report.
FIXED DEPOSITS:
During the year under review the Company has neither invited nor
accepted Public Deposits.
AUDITORS:
The Auditors M/s. Agrawal Jain and Gupta, Chartered Accountants, Jaipur
are Re appointed as the statutory auditors of the Company at the
forthcoming Annual General Meeting.
The Company has received letters from them to the effect that their
re-appointment, if made, would be within the prescribed limits under
sections 224(1B) of the Companies Act, 1956.
AUDITOR''S REMARKS:
The provision for leave encashment has not been made in as much as the
liability to pay such leave encashment would be taken care of when it
is accrued.
LISTING:
The Shares of the Company are listed on Stock Exchanges at Mumbai.
Listing fees has been paid to Bombay Stock Exchange Limited.
APPRECIATION:
The Board places on record the appreciation of the sincere and devoted
services rendered by all the employees and the continued support and
confidence of the Shareholders. The Board also expresses their sincere
thanks to the Banks and all other well wishers for their timely
support.
Registered Office : By Order of the Board of Director
E-211, Crystal Plaza, For ALKA INDIA LIMITED
Opp. Fame Adlabs,
New Link Road,
Andheri (W), Sd/-
Ramakant Gokulchand Chairman & Managing Director
Mumbai - 400 053.
Place : Mumbai
Date : 20th January, 2015
Sep 30, 2013
The Directors have pleasure in presenting the Twentieth Annual Report
together with the Au- dited Statement of Accounts for the year ended
30th September, 2013.
FINANCIAL RESULTS:
The working results of the Company for the year ended on 30th
September, 2013 are as follows:
Rs. In Lakhs
Particulars Year Ended On Year Ended On
30.09.2013 30.09.2012
Rs. Rs.
Net ÂProfit/Loss (5,478,885) (26,756,862)
Less : Depreciation 1,640,753 1,883,661
Profit/(Loss) before Taxation (PBT) (7,119,638) (28,640,523)
Less : Provision for Income Tax NIL NIL
Less : Deferred Tax Adjustments NIL 250,281
Less: Provision for Fringe Benefit
Tax NIL NIL
Profit/ (Loss) After Tax (PAT) (7,119,638) (28,890,804)
Add : Profit/(Loss) brought
forward (2,25,090,584) (1,96,199,780)
Add: Transfer from General Reserve NIL NIL
Add: Prior Year Adjustments. NIL NIL
Surplus/(Deficit) (232,210,222) (225,090,584)
APPROPRIATIONS:
Year Ended On Year Ended On
30.09.2013 30.09.2012
Rs. Rs.
Profit/(Loss) carried to
Balance Sheet (232,210,222) (225,090,584)
Total (232,210,222) (225,090,584)
DIVIDEND:
Your directors do not recommend dividend for the year 2012-2013.
OPERATIONS:
Your Directors are confident in recording a sustainable growth in the
operation during the current year.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, AND FOREIGN EX- CHANGE
EARNING AND OUTGO:
A. CONSUMPTION OF ENERGY & TECHNOLOGY ABSORPTION:
The details as required under section 217 (1)(e) of the Companies
Act,1956 read with the Companies (Disclosure of Particulars in the
Report of Board of Directors ) Rules,1988 in re- spect of Conservation
of Energy, Technology Absorption are not applicable.
B. FOREIGN EXCHANGE EARNING & OUTGO:
Current Year Previous Year
a) Earning Nil Nil
b) Outgo Nil Nil
DIRECTORATE:
During the year under review Mr. Satish Panchariya retire by rotation
as Director of the Company at the ensuing Annual General Meeting and
being eligible, offers himself for re -appointment.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217 (2AA) of the Companies Act, 1956, your
Directors confirm the following:
1. In the preparation of the annual accounts, the Accounting Standards
to the extent applicable had been followed along with proper
explanations relating to material departures.
2. Adequate accounting policies had been selected and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give true and fair view of the state of affairs of the
Company at the end of financial year and of the profit of the Com- pany
for the period.
3. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with provisions of this Act,
for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities.
4. The Annual Accounts have been prepared for the financial year ended
30th September, 2013 on a going concern basis.
PARTICULARS OF EMPLOYEES:
During the year, there were no employees whose information is required
to be given as per Sec- tion 217(2A) read with the Companies
(Particular of Employees) Rules, 1975 as amended.
REPORT ON CORPORATE GOVERNANCE:
A detailed report on Corporate Governance is annexed to this Annual
Report. The Company has complied with the conditions of corporate
governance as stipulated in clause 49 of the listing agreement. The
certificate obtained from the auditors of the Company regarding
compliance of conditions is annexed to this report.
FIXED DEPOSITS:
During the year under review the Company has neither invited nor
accepted Public Deposits.
AUDITORS:
The Auditors M/s. Agrawal Jain and Gupta, Chartered Accountants, Jaipur
are Re appointed as the statutory auditors of the Company at the
forthcoming Annual General Meeting.
The Company has received letters from them to the effect that their
re-appointment, if made, would be within the prescribed limits under
sections 224(1B) of the Companies Act, 1956.
AUDITOR''S REMARKS:
The provision for leave encashment have not been made in as much as the
liability to pay such leave encashment would be taken care of when it
is accrued.
LISTING:
The Shares of the Company are listed on Stock Exchanges at Mumbai.
Listing fees has been paid to Bombay Stock Exchange Limited.
APPRECIATION:
The Board places on record the appreciation of the sincere and devoted
services rendered by all the employees and the continued support and
confidence of the Shareholders. The Board also expresses their sincere
thanks to the Banks and all other well wishers for their timely
support.
Registered Office :
E-211, Crystal Plaza, By Order Of the Board of Directors
Opp. Fame Adlabs For ALKA INDIA LIMITED
New Link Road, Andheri (W)
Mumbai  400053. Sd/-
Ramakant Gokulchand
Place :Mumbai Chairman & Managing Director
Date :14th February, 2014
Sep 30, 2012
To The Members,
The Directors have pleasure in presenting the Nineteen Annual Report
together with the Audited Statement of Accounts for the year ended 30th
September, 2012.
FINANCIAL RESULTS:
The working results of the Company for the year ended on 30th
September, 2012 are as follows:
Rs. In Lakhs
Particulars Year Ended On Year Ended On
30.09.2012 30.09.2011
Rs. Rs.
Net-Profit/Loss (26,756,862) (30,955,584)
Less : Depreciation 1,883,661 1,234,226
Profit/(Loss) before Taxation (PBT) (28,640,523) (32,189,810)
Less : Provision for Income Tax NIL NIL
Less : Deferred Tax Adjustments 250,281 NIL
Less: Provision for Fringe Benefit Tax NIL NIL
Profit/ (Loss) After Tax (PAT) (28,890,804) (32,189,810)
Add : Profit/(Loss) brought forward (22,50,90,584) (19,61,99,780)
Add: Transfer from General Reserve NIL NIL
Add: Prior Year Adjustments. NIL (138,860)
Surplus/(Deficit) (22,50,90,584) (19,61,99,780)
APPROPRIATIONS:
Year Ended On Year Ended On
30.09.2012 30.09.2011
Rs. Rs.
Profit/(Loss) carried to Balance Sheet (22,50,90,584) (19,61,99,780)
Total (22,50,90,584) (19,61,99,780)
DIVIDEND:
Your directors do not recommend dividend for the year 2011-2012.
OPERATIONS:
Your Directors are confident in recording a sustainable growth in the
operation during the current year.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, AND FOREIGN EXCHANGE
EARNING AND OUTGO:
A. CONSUMPTION OF ENERGY & TECHNOLOGY ABSORPTION:
The details as required under section 217 (1)(e) of the Companies
Act,1956 read with the Companies (Disclosure of Particulars in the
Report of Board of Directors ) Rules,1988 in respect of Conservation of
Energy, Technology Absorption are not applicable.
B. FOREIGN EXCHANGE EARNING & OUTGO:
Current Year Previous Year
a) Earning Nil Nil
b) Outgo Nil Nil
DIRECTORATE:
During the year under review Mr Neel Doctor retire by rotation as
Director of the Company at the ensuing Annual General Meeting and being
eligible, offers himself for re -appointment.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217 (2AA) of the Companies Act, 1956, your
Directors confirm the following:
1. In the preparation of the annual accounts, the Accounting Standards
to the extent applicable had been followed along with proper
explanations relating to material departures.
2. Adequate accounting policies had been selected and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give true and fair view of the state of affairs of the
Company at the end of financial year and of the profit of the Company
for the period.
3. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with provisions of this Act,
for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities.
4. The Annual Accounts have been prepared for the financial year ended
30th September, 2012 on a going concern basis.
PARTICULARS OF EMPLOYEES:
During the year, there were no employees whose information is required
to be given as per Section 217(2A) read with the Companies (Particular
of Employees) Rules, 1975 as amended.
REPORT ON CORPORATE GOVERNANCE:
A detailed report on Corporate Governance is annexed to this Annual
Report. The Company has complied with the conditions of corporate
governance as stipulated in clause 49 of the listing agreement. The
certificate obtained from the auditors of the Company regarding
compliance of conditions is annexed to this report.
FIXED DEPOSITS:
During the year under review the Company has neither invited nor
accepted Public Deposits.
AUDITORS:
The Auditors M/s. Agrawal Jain and Gupta, Chartered Accountants, Jaipur
are Re appointed as the statutory auditors of the Company at the
forthcoming Annual General Meeting.
The Company has received letters from them to the effect that their
re-appointment, if made, would be within the prescribed limits under
sections 224(1B) of the Companies Act, 1956.
AUDITORÂS REMARKS:
The provision for leave encashment have not been made in as much as the
liability to pay such leave encashment would be taken care of when it
is accrued.
LISTING:
The Shares of the Company are listed on Stock Exchanges at Mumbai.
Listing fees has been paid to Bombay Stock Exchange Limited.
APPRECEIATION:
The Board places on record the appreciation of the sincere and devoted
services rendered by all the employees and the continued support and
confidence of the Shareholders. The Board also expresses their sincere
thanks to the Banks and all other well wishers for their timely
support.
Registration Office : By Order of the Board of Director
E-211, Crystal Plaza, For ALKA INDIA LIMITED
Opp. Fame Adlabs,
New Link Road, Sd/-
Andheri (W), Ramakant Gokulchand
Mumbai - 400 053. Chairman & Managing Director
Place : Mumbai
Date : 06th February, 2013
Sep 30, 2011
The Directors have pleasure in presenting the Eighteenth Annual Report
together with the Audited Statement of Accounts for the year ended 301"
September, 2011.
FINANCIAL RESULTS :
The working results of the Company for the year ended on 30th
September, 2011 are as follows:
Particulars Year Ended On Year Ended On
30.09.2011 30.09.2010
Rs. Rs.
Net - Profit/Loss (30,955,584) (60,819,267)
Less : Depreciation 1,234,226 1,169,803
Profit/(Loss) before Taxation (PBT) (32,189,810) (61,989,070)
Less : Provision for Income Tax - -
Less : Deferred Tax Adjustments - (19,862,740)
Less: Provision for Fringe
Benefit Tax
Profit/ (Loss) After Tax (PAT) (32,189,810) (42,126,330)
Add : Profit/(Loss) brought forward (206,176,297) (164,049,967)
Add: Transfer from General Reserve NIL NIL
Add: Prior Year Adjustments. (138,860) -
Surplus/(Deficit) (19, 61,99,780) (20,61,76,297)
APPROPRIATIONS
Year Ended On Year Ended On
30.09.2011 30.09.2010
Rs. Rs.
Profit/(Loss) carried to
Balance Sheet (19,61,99,780)
(20,61,76,297)
Total (19,61,99,780)
(20,61,76,297)
DIVIDEND:
Your directors do not recommend dividend for the year 2010-2011.
OPERATIONS:
Your Directors are confident in recording a sustainable growth in the
operation during the current year.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING
AND OUTGO:
A. CONSUMPTION OF ENERGY & TECHNOLOGY ABSORPTION:
The details as required under section 217 (1 )(e) of the Companies
Act,1956 read with the Companies (Disclosure of Particulars in the
Report of Board of Directors) Rules, 1988 in respect of Conservation
of Energy, Technology Absorption are not applicable.
DIRECTORATE:
During the year under review Mr. Madanlal Purohit who retire by
rotation as Director of the Company at the ensuing Annual General
Meeting and being eligible, offers himself for re-appointment.
Mr. Ramakant Sharma was appointed as directors of the company w.e.from
5th October, , 2011. He is Commerce Graduate and from ARMY.
Mr. Satish Panchariya resigned from the post of Managing Director
however he is continue as a Director on board of your company.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217 (2AA) of the Companies Act, 1956, your
Directors confirm the following:
1. In the preparation of the annual accounts, the Accounting Standards
to the extent applicable had been followed along with proper
explanations relating to material departures.
2. Adequate accounting policies had been selected and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give true and fair view of the state of affairs of the
Company at the end of financial year and of the profits of the Company
for the period.
3. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with provisions of this Act,
for safeguarding the assets of the Company and for preventing and
detecting frauds and other irregularities.
4. The Annual Accounts have been prepared for the financial year ended
30th September, 2011 on a going concern basis.
PARTICULARS OF EMPLOYEES:
During the year, there were no employees whose information is required
to be given as per Section 217(2A) read with the Companies (Particular
of Employees) Rules, 1975 as amended.
REPORT ON CORPORATE GOVERNANCE:
A detailed report on Corporate Governance is annexed to this Annual
Report. The Company has complied with the conditions of Corporate
Governance as stipulated in clause 49 of the listing agreement. The
certificate obtained from the auditors of the Company regarding
compliance of conditions is annexed to this report.
FIXED DEPOSITS:
During the year under review the Company has neither invited nor
accepted Public Deposits.
AUDITORS :
The Auditors M/s.Agrawal Jain and Gupta, Chartered Accountants, are
Reappointed as the statutory auditors of the Company at the forthcoming
Annual General Meeting.
The Company has received letters from them to the effect that their
reappointment, if made, would be within the prescribed limits under
Section 224(1 B) of the Companies Act, 1956.
AUDITOR'S REMARKS:
The provision for leave encashment have not been made in as much as the
liability to pay such leave encashment would be taken care of when it
is accrued.
LISTING:
The Shares of the Company are listed on Stock Exchanges at Mumbai.
Listing fees has been paid to Bombay Stock Exchange Limited.
APPRECEIATION:
The Board places on record the appreciation of the sincere and devoted
services rendered by all the employees and the continued support and
confidence of the Shareholders. The Board also expresses their sincere
thanks to the Banks and all other well wishers for their timely
support.
Registered Office : By Order Of the Board of Directors
E-211, Crystal Plaza, For ALKA INDIA LIMITED
Opp. Fame Adlabs,
New Link Road, Andheri (W),
Mumbai - 400053. sd/-
Ramakant Sharma
Place : Mumbai
Chairman & Managing Director
Date : 13th February, 2012
Sep 30, 2010
The Directors have pleasure in presenting the Seventeenth Annual
Report together with the Audited Statement of Accounts for the year
ended 30th September, 2010.
FINANCIAL RESULTS :
The working results of the Company for the year ended on 30th
September, 2010 are as follows:
Rs. In Lakhs
Particulars Year Ended On Year Ended On
30.09.2010 30.09.2009
Rs. Rs.
Net - Profit/Loss (608.19) (17.18)
Less : Depreciation 11.70 49.02
Profit/(Loss) before Taxation (PBT) (619.89) (66.20)
Less : Provision for Income Tax - 58.89
Less : Deferred Tax Adjustments (198.63) (61.17)
Less: Provision for Fringe Benefit Tax - -
Profit/ (Loss) After Tax (PAT) (421.26) (63.93)
Add : Profit/(Loss) brought forward (1640.50) (1081.41)
Add: Transfer from General Reserve Nil Nil
Add: Prior Year Adjustments. - (495.16)
Surplus/(Deficit) (2061.76) (1640.50)
APPROPRIATIONS :
Year Ended On Year Ended On
30.09.2010 30.09.2009
Rs. Rs.
Profit/(Loss) carried
to Balance Sheet (2061.76) (1640.50)
Total (2061.76) (1640.50)
DIVIDEND:
Your directors do not recommend dividend for the year 2009-2010.
OPERATIONS:
Your Directors are confident in recording a sustainable growth in the
operation during the current year.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING
AND OUTGO:
A. CONSUMPTION OF ENERGY & TECHNOLOGY ABSORPTION:
The details as required under section 217 (1)(e) of the Companies
Act,1956 read with the Companies (Disclosure of Particulars in the
Report of Board of Directors ) Rules,1988 in respect of Conservation of
Energy, Technology Absorption are not applicable.
B. FOREIGN EXCHANGE EARNING & OUTGO:
Current Year Previous Year
a) Earning Nil Nil
b) Outgo Nil Nil
DIRECTORATE:
During the year under review Mr Anant Sharma retire by rotation as
Director of the Company at the ensuing Annual General Meeting and being
eligible, offers himself for reappointment.
Mr Neel Doctor was appointed as directors of the company w.e.from
31.08.2010 He is MBA in Marketing & International Business graduate. He
has a good exposure in pricing strategies , balancing firm objectives
and various aspects of marketing strategy.
Mr Mukesh Chauradiya resigned from the board of your company w.e.from
01.06.2010.The Board places on record its sincere appreciation for the
valuable guidance.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217 (2AA) of the Companies Act, 1956, your
Directors confirm the following:
1. In the preparation of the annual accounts, the Accounting Standards
to the extent applicable had been followed along with proper
explanations relating to material departures.
2. Adequate accounting policies had been selected and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give true and fair view of the state of affairs of the
Company at the end of financial year and of the profit of the Company
for the period.
3. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with provisions of this Act,
for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities.
4. The Annual Accounts have been prepared for the financial year ended
30th September, 2010 on a going concern basis.
PARTICULARS OF EMPLOYEES:
During the year, there were no employees whose information is required
to be given as per Section 217(2A) read with the Companies (Particular
of Employees) Rules, 1975 as amended.
REPORT ON CORPORATE GOVERNANCE:
A detailed report on Corporate Governance is annexed to this Annual
Report. The Company has complied with the conditions of corporate
governance as stipulated in clause 49 of the listing agreement. The
certificate obtained from the auditors of the Company regarding
compliance of conditions is annexed to this report.
FIXED DEPOSITS:
During the year under review the Company has neither invited nor
accepted Public Deposits.
AUDITORS :
The Auditors M/s. Agrawal Jain And Gupta, Chartered Accountants, Jaipur
are Reappointed and being eligible offer themselves for re-appointment.
You are requested to re-appoint the auditors and fix their
remuneration.
AUDITORS REMARKS:
The provision for leave encashment have not been made in as much as the
liability to pay such leave encashment would be taken care of when it
is accrued. Every debtors and creditors of the Company was requested to
confirm the debit and credit balances as the case may be in their
accounts. The confirmations from various creditors/debtors have not
been received till the finalization of the accounts. The Company does
not have any control over the debtors/creditors and has taken the
balance as appears in its ledger accounts.
LISTING:
The Shares of the Company are listed on Stock Exchanges at Mumbai.
Listing fees has been paid to Bombay Stock Exchange Limited.
The Shares of the company were voluntary delisted from the Ahmedabad
Stock exchange w.e.from 30.11.2010.
APPRECEIATION:
The Board places on record the appreciation of the sincere and devoted
services rendered by all the employees and the continued support and
confidence of the Shareholders. The Board also expresses their sincere
thanks to the Banks and all other well wishers for their timely
support.
Registered Office : By Order Of the Board of Directors
E-211, Crystal Plaza,
Opp. Fame Adlabs For ALKA INDIA LIMITED
New Link Road, Andheri (W),
Mumbai - 400053.
sd/-
Satish Panchariya
Place : Mumbai Chairman & Managing Director
Date : 4th March, 2011
Sep 30, 2009
The Directors have pleasure in presenting the Sixteenth Annual Report
together with the Audited Staterhent of Accounts for the year ended
30th September, 2009.
FINANCIAL RESULTS:
The working results of the Company for the year ended on 30th
September, 2009 are as follows:
Rs. In Lakhs
Particulars Year Ended On Year Ended On
30.09.2009 30.09.2008
Rs. Rs.
Gross Profit/Loss (17.18) (190.84)
Less : Depreciation 49.02 100.72
Profit/CLoss) before
Taxation (PBT) (66.20) (291.56)
Less : Provision for Income Tax 58.89 0.25
Less : Deferred Tax Adjustments (61.17) (27.93)
Less: Provision for Fringe
Benefit Tax - 1.02
Profit/ (Loss) After Tax (PAT) (63.93) (320.76)
Add : Profit/(Loss) brought
forward (1081.41) (760.65)
Add: Transfer from General
Reserve Nil Nil
Add: Prior Year Adjustments. (495.16) Nil
Surplus/(Deficit) (1640.50) (1081.41)
APPROPRIATIONS ;
Year Ended On Year Ended On
30.09.2009 30.09.2008
Rs. Rs.
Profit/(Loss) carried to
Balance Sheet (1640.50) (1081.41)
Total (1640.50) (1081.41)
DIVIDEND:
Your directors do not recommend dividend for the year 2008-2009.
OPERATIONS:
Your Directors are confident in recording a sustainable growth in the
operation during the current year.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING
AND OUTGO:
A.CONSUMPTION OF ENERGY & TECHNOLOGY ABSORPTION:
The details as required under section 217 (l)(e) of the Companies
Act,1956 read with the Companies (Disclosure of Particulars in the
Report of Board of Directors > Rules.1988 in respect of Conservation of
Energy, Technology Absorption are not applicable.
B.FOREIGN EXCHANGE EARNING & OUTGO:
Current Year Previous Year
a) Earning Nil Nil
b) Outgo Nil Nil
DIRECTORATE
During the year under review Mr. Madah Purohit retire by rotation as
Director of the Company at the ensuing Annual General fleeting and
being eligible, offers himself for reappointment.
During the year under review Mr. Anant Sharma was appointed as
directors of the company.
DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section. 217 C2AA) of the Companies Act, 1956, your
Directors confirm the following:
1. In the preparation of the annual accounts, the Accounting Standards
to the extent applicable had been followed along with proper
explanations relating to material departures.
2. Adequate accounting policies had been selected and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give true and fair view of the state of affairs of the
Company at the end of financial year and of the profit of the Company
for the period.
3. Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance -with provisions of this Act.
for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities.
4. The Annual Accounts have been prepared for the financial year ended
30th September, 2009 on a going concern basis.
PARTICULARS OF EMPLOYEES:
During the year, there were no employees whose information is required
to be given as per Section 217(2A) read with the Companies (Particular
of Employees) Rules, 1975 as amended.
REPORT ON CORPORATE GOVERNANCE:
A detailed report on Corporate Governance is annexed to this Annual
Report. The Company has complied with the conditions of corporate
governance as stipulated in clause 49 of the listing agreement. The
certificate obtained from the auditors of the Company regarding
compliance of conditions is annexed to this report.
FIXED DEPOSITS:
During the year under review the Company has neither invited nor
accepted Public Deposits.
AUDITORS :
The Auditors M/s. Agrawal Jain And Gupta, Chartered Accountants, Jaipur
are Reappointed and being eligible offer themselves for re-appointment.
You are requested to re-appoint the auditors and fix their
remuneration.
AUDITORS REMARKS:
The provision for leave encashment have not been made in as much as the
liability to pay such leave encashment would be taken care of when it
is accrued. Every debtors and creditors of the Company was requested to
confirm the debit and credit balances as the case may be in their
accounts. The confirmationsfrom various creditors/debtors have not been
received till the finalization of the accounts. The Company does not
have any control over the debtors/creditors and has taken the balance
as appears in its ledger accounts.
LISTING:
The Shares of the Company are listed on Stock Exchanges at Ahmedabad
and Mumbai. Listing fees has been paid to Mumbai Stock Exchange.
APPRECEIATION:
The Board places on record the appreciation of the sincere and devoted
services rendered by all the employees and the continued support and
confidence of the Shareholders. The Board also expresses their sincere
thanks to the Banks and all other well wishers for their timely
support.
Registered Office : By Order Of the Board of Directors
E-211, Crystal Plaza,
Opp. Fame Adlabs For ALKA INDIA LIMITED
New Link Road, Andheri (W)
Mumbai à 400053. Satish Panchariya
Chairman & Managing
Director
Place : Mumbai
Date: 4th March, 2010
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