To,
The Members,
M/s Mercury Trade Links Limited
CIN: L01100GJ1985PLC144317
Your directors take pleasure in presenting the 39th Annual Report on the
business & operation of your Company together with Financial Statement for the year
ended 31st March, 2024
FINANCIAL PERFORMANCE (Rs. In Lakhs)
PARTICULARS |
Current Year 2023-24 |
Previous Year 2022-2023 |
| Gross Income |
1383.04 |
47.76 |
| Less: Expenditure |
1241.16 |
46.38 |
| Profit/(Loss) before Depreciation |
141.89 |
1.38 |
| Less: Depreciation |
1.55 |
0.71 |
| Net Profit /(Loss) before Tax and extra ordinary items |
140.34 |
0.67 |
| Less: Extra Ordinary Items |
0 |
0 |
| Net Profit (Loss) before Tax |
140.36 |
0.67 |
| Less: Provisions of Tax |
26.57 |
0 |
| Deferred Tax |
0.02 |
0.04 |
| Income Tax for Earlier years |
0 |
0 |
| Net Profit /(Loss) after tax |
113.75 |
0.63 |
| Other Comprehensive Income |
0 |
0 |
| Balance of Profit/(Loss) |
113.75 |
0.63 |
OPERATIONS AND PERFORMANCE
During the year Company has total revenue of Rs. 1383.04 Lakhs (Previous year Rs. 47.76
Lakhs) and Profit of Rs 113.75 Lakhs (Previous year Profit of Rs. 0.63 Lakhs)
DIVIDEND
With a view to conserve resource for the company's business activities, loss and
requirement of the working capital, Director's regret to recommend any dividend on Equity
Shares for the year.
TRANSFER TO RESERVES
No amount is proposed to be transferred to reserves during the year under review.
MATERIAL CHANGES AND COMMITMENTS. IF ANY, AFFECTING THE FINANCIAL POSITION OF THE
COMPANY WHICH HAS OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH
THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:
There are no material changes and commitments affecting the financial position of the
Company which have occurred after March 31, 2024 till date of this report.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
INDUSTRY STRUCTURE AND DEVELOPMENTS
The Company is engaged in the Commercial Agriculture to deal in trading, export, import
such agricultural products.
India is known as “Land of Villages”. Near about 67% of India's population
live in villages. The occupation of villagers is agriculture. Agriculture is the dominant
sector of our economy & contributes in various ways.
OPPORTUNITIES, THREATS, RISKS AND CONCERNS
The improvement in the global economic situation coupled with protection given by
Indian Government provides opportunity for growth and it is set to grow in Expected line
Outlook. The company expects the pressure on Quality Customer to continue due to
competition
SEGMENT WISE OR PRODUCT WISE PERFORMANCE
The Company operates in single segment
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE
There are no significant material orders passed by the Regulators / Courts which would
impact the going concern status of the Company and its future operations.
ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE FINANCIAL STATEMENTS:
This ensures orderly and efficient conduct of its business, including adherence to the
Company's policies, safeguarding of its assets, prevention of errors, accuracy and
completeness of the accounting records and the timely preparation of reliable financial
information.
The internal financial controls with reference to the financial statements were
adequate and operating effectively.
PRESENTATION OF FINANCIAL STATEMENTS
The financial performance of the Company for the year 2023-2024 is described in the
Directors' Report under the head Financial Performance of the Company'
DEPOSIT
The Company has not accepted any deposits to which provisions of Section 73 and 76 of
the Companies Act, 2013 and Rules made there under. There were no unclaimed or unpaid
deposits as on 31st March, 2024
AUDITORS AND THEIR REPORTS:
A. STATUTORY AUDITOR:
In 38th AGM, M/s. VS S B & Associates from the conclusion of 38th Annual
General Meeting until the conclusion of the 43rd Annual General Meeting (AGM)
of the company to be held in the year 2028
B. SECRETARIAL AUDITOR
Pursuant to the provision of Section 204 of the Companies Act, 2013 and the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company had
appointed M/s DHARTI PATEL & ASSOCIATES, Practicing Company Secretary to undertake the
Secretarial Audit of the Company for the Financial Year 2023-2024 as required under
provision of sub-section 1 of section 204 of the Companies Act, 2013. The Company has
annexed with its Board's Report, Secretarial Audit Report given by the Secretarial Auditor
as “Annexure 4”.
SHARE CAPITAL
During the year under review, your Company has allotted New Shares through Right Issue
Dated 28th March,2024 amounting to Rs. 24,75,000 divided into 2,47,500 Equity
Shares of face value of Rs. 10 each.
The Authorized Share Capital of the Company is Rs. 12,25,00,000/- comprising of
1,22,50,000 equity share of Rs.10/- each and the issued, subscribed and paid-up Share
Capital of the Company is Rs. 2,72,25,000/- comprising of 27,22,500 equity share of
Rs.10/- each fully paid up as at 31st March, 2024.
Your director state that no disclosure or reporting is required in respect of the
following items as there were no transaction/ events on these items during the year under
review:
i) Issue of equity shares with differential rights as to dividend, voting or otherwise.
ii) Issue of sweat equity shares.
iii) Issue of employee stock options.
iv) Provision of money by company for purchase of its own shares by employees or by
trustees for benefit of employees.
FACILITY OF DEMATERIALIZATION
Your Company has obtained the ISIN INE319T01016 from both the depositories' i.e., CDSL
and NSDL to facilities its shareholder to dematerialize their physical shares in to Demat
Mode.
BOARD & COMMITTEES:
In accordance with the provisions of Section 152 of the Companies Act, 2013 and
Articles of Association of the Company, Mr AASHRAY P LAKHANI (DIN 10367223) Director of
the Company, retires by rotation at the ensuing Annual General Meeting and being eligible
has offered himself for re-appointment.
S.N. Name of Director/KMP |
Designation |
Date of appointment/Change in Designation / Resignation |
Remarks (if any) |
1. Mr.Ajaykumar Jagdishbhai Parmar |
MD and CFO |
24-04-2023 |
Appointment |
2. Hemanshi Pathak |
CFO |
24-04-2023 |
Resignation |
3. CS Harshil Shah |
Company Secretary |
28-04-2023 |
Resignation |
4. CS Ayushi Shah |
Company Secretary |
22-06-2023 |
Appointment |
5. Mr. Naishal Jatinkumar Talati |
Independent Director |
25-07-2023 |
Resignation |
6. Mr. Kalpesh Kumar Vishnu prasad Vyas |
Independent Director |
25-07-2023 |
Resignation |
7. Mr. Viren Rajeshkumar Makwana |
Non-Executive Independent Director |
25-07-2023 |
Appointment |
8. Ms. Priyanka K Gola |
Non-Executive Independent Director |
25-07-2023 |
Appointment |
9. Jatin makani |
Non-Executive Director |
10-08-2023 |
Resignation |
10 . Mr. Kanaiyalal Hiralal Modi |
CEO |
10-08-2023 |
Resignation |
11 Divya Bairwa |
Executive Director cum CFO |
22-08-2023 |
Appointment |
12 Mr. Ajaykumar Jagdish Bhai Parmar |
CFO |
26-08-2023 |
Resignation |
13 Ms. Payal Ronak Shah |
Independent Director |
22-09-2023 |
Resignation |
14 . Mr. Aashray P Lakhani |
Managing Director |
25-10-2023 |
Appointment |
15 . Mr. Ajaykumar Jagdishbhai Parmar |
Managing Director |
25-10-2023 |
Resignation |
16 Ms. Sweta Rasikbhai Panchal |
Independent Director |
02-11-2023 |
Appointment |
17 Chaprajbhai Vikrambhai Algotar |
Executive Director |
08-02-2024 |
Appointment |
DECLARATION BY AN INDEPENDENT DIRECTOR(S)
The company has received necessary declaration from each Independent Directors under
Section 149(7) of the Companies Act, 2013, state that he/she meets the criteria of
independence as laid down in Section 149(6) of the Companies Act, 2013 and Regulation 25
of the Listing Regulations.
BOARD EVALUATION
In accordance with the provisions of the Companies Act, 2013 and Regulations of SEB]
(LODR) Regulations, 2015, the Board has carried out an annual performance evaluation of
its own performance, the directors individually as well as the evaluation of the working
of its Audit Committee, Nomination & Remuneration Committee and other Committees. The
performance evaluation of Independent Director was carried out by the entire Board
excluding the Director being evaluated.
POLICY ON DIRECTOR'S APPOINTMENT AND REMUNERATION AND OTHER DETAILS
The Nomination & Remuneration Committee of the Company leads the process for Board
appointments in accordance with the requirements of the Companies Act, 2013, the
Regulations of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 and
other applicable regulations and guidelines. The Board has, on the recommendation of the
Nomination & Remuneration committee, framed a policy for selection and appointment of
Directors, Senior Management and their remuneration.
The Nomination & Remuneration policy is available on the company website www.mercurytradelinks.co.in.
There has been no change in the policy since the last year.
BOARD MEETINGS
During the year Sixteen (23) meetings of the board of directors were held on the
following date's i. e. 24-04-2023, 28-04-2023, 29-05-2023, 22-06-2023, 25-07-2023,
26-07-2023, 10-08-2023, 22-082023, 26-08-2023, 31-08-2023, 22-09-2023, 13-10-2023,
25-10-2023, 30-10-2023, 02-11-2023, 1011-2023, 28-11-2023, 11-01-2024, 08-02-2024,
26-02-2024, 29-02-2024,01-03-2024,28-03-2024
The Company has adhered to the timeline of gap required to be maintained between each
of the Board meetings as prescribed under the Companies Act, 2013.
DIRECTORSHIP AND COMMITTEE MEMBERSHIP IN OTHER COMPANIES
None of the directors holds office as a director, including as alternate director, in
more than twenty companies at the same time. None of them has directorships in more than
ten public companies. For reckoning the limit of public companies, directorship of private
companies that are either holding or subsidiary companies of a public company are
included.
As per the declarations received, none of the directors serve as an independent
director in more than seven listed companies and director in more than eight listed
Companies.
None of the directors was a member in more than ten committees, nor a chairman in more
than five committees across all companies, in which he was a director. For the purpose of
considering the limit of the committees on which a director can serve, all public limited
companies, whether listed or not, have been included and all other companies including
private limited companies, foreign companies and companies under section 8 of the
Companies Act, 2013 have been excluded.
INDEPENDENT DIRECTORS' MEETING
As per Para VII (1) of Schedule IV to the Companies Act 2013, Independent Directors
(IDs) are required to hold at least one meeting without the attendance of non-independent
directors and members of management. During the FY 2023-24 Independent Directors duly met
during the year under review
AUDIT COMMITTEE
The Company has constituted an Audit Committee as required under Section 177 of the
Companies Act, 2013 read with regulation 18 of the SEBI (Listing Obligation &
Disclosure Requirements) Regulations, 2015 with Stock Exchange.
As on the end of Financial Year 2023-24 Audit Committee comprises of three Directors as
under:
The Committee comprised of, Ms. Priyanka K Gola Chairman and Member and Mr. Aashray
Lakhani Member of the Committee, Ms.Sweta Rasikbhai Panchal Member of the Committee.
During the year under review, the 5 Audit Committee was held during Financial Year
2023-2024.
The dates on which the said meetings were held are 29-05-2023,26-07-2023, 30-10-2023,
10-11-2023, 11-01-2024.
Minutes of meetings of the Audit Committee are circulated to members of the Committee
and the Board is kept apprised.
Members of the Audit Committee have requisite financial and management expertise.
Audit Committee of the Board of Directors is entrusted with the responsibility to
supervise the Company's internal financial controls and financial reporting process. The
Composition and quorum are in accordance with Section 177(8) of the Companies Act, 2013.
All members of the Audit Committee possess financial/accounting expertise/exposure.
Functions of the Audit Committee:
The Audit Committee, while reviewing the Annual Financial Statement also review the
applicability of various Accounting Standards (AS) referred to in Section 133 of the
Companies Act, 2013. Compliance of the Accounting Standard as applicable to the Company
has been ensured in the preparation of the Financial Statement for the year ended 31st
March, 2024.
The Audit Committee also oversees and reviews the functioning of Vigil Mechanism
(implemented in the Company as a Risk Management Policy and Whistle Blower Policy) and
review the finding of investigation in the cases of material nature and the action taken
in respect thereof.
NOMINATION AND REMUNERATION COMMITTEE
The Company has constituted a Nomination and Remuneration Committee as required under
Section 178 of the Companies Act, 2013 read with regulation 19 of the SEBI (Listing
Obligation & Disclosure Requirements) Regulations, 2015.
The Board of Directors has adopted policy which lays down a framework in relation to
remuneration of Directors, Key Managerial Personnel and Senior Management of the Company.
This policy also lays down criteria for selection and appointment of Board Members. The
same can be accessed on the Company's Website at www.mercurytradelinks.co.in.
MEETING AND ATTENDANCE:
As on the end of Financial Year 2023-24 Nomination and Remuneration Committee comprises
of three Directors as under:
The Committee comprised of, Ms. Priyanka K Gola Chairman and Member and Ms. Sweta
Rasikbhai Panchal Member of the Committee, Mr Viren Makwana Member of the Committee.
The Nomination and Remuneration Committee met Ten times during the Financial Year
2023-24.
The dates on which the said meetings were held are 24-04-2023, 22-06-2023, 25-07-2023,
10-082023, 22-08-2023, 26-08-2023, 22-09-2023, 25-10-2023, 02-11-2023, 08-02-2024.
STAKEHOLDER RELATIONSHIP COMMITTEE
The Company has constituted a qualified Stakeholder Relationship Committee as required
under Section 178 of the Companies Act, 2013 and applicable rules thereto and as per
Regulation 20 of SEBI (LODR), Regulations, 2015.
The Committee comprised of, Ms Priyanka K Gola Chairman and Member and Ms. Sweta
Rasikbhai Panchal Member of the Committee, Mr. Aashray Lakhani Member of the Committee.
MEETINGS AND ATTENDANCE
The Stakeholder Relationship committee met one time during the Financial Year 2023-24.
The Committee met on 29-02-2024. The necessary quorum was present for the Meeting.
POLICIES AND GOVERNANCE CORPORATE GOVERNANCE
The reporting relating to Corporate Governance is not mandatory for your Company as per
the circular no.: CIR/CFD/POLICY CELL/7/2014 dated September 15, 2014 issued by the
Securities and Exchange Board of India and circular no.: DCS/COMP/10/2014-15 September 16,
2014, issued by the BSE Limited and SEBI (Listing Obligation and Disclosure Requirement)
Regulation, 2015. As the paid-up Share Capital of the Company is less than 10 crores and
its Net Worth does not exceed 25 crores as on 31st March, 2024. Hence, the Corporate
Governance Report is not included in this Report.
VIGIL MECHANISM / WHISTLE BLOWER POLICY
The Vigil Mechanism of the Company is incorporated under Whistle Blower Policy.
Protected Disclosures can be made by a Whistle Blower through an e-mail or to the Chairman
of the Audit Committee. The Policy on Vigil Mechanism and Whistle Blower Policy can be
accessed on the Company's Website at www.mercurytradelinks.co.in.
RISK MANAGEMENT
The Company has in place a mechanism to identify, assess, monitor and mitigate various
risks to key business objectives. Major risks identified by the businesses and functions
are systematically addressed through mitigating actions on a continuing basis. These are
discussed at the meetings of the Audit Committee and the Board of Directors of the
Company.
The Company's internal control systems are commensurate with the nature of its business
and the size and complexity of its operations. These are routinely tested and certified by
Statutory as well as Internal Auditor. The Risk Management Policy of the Company is
available on Company's website at www.mercurytradelinks.co.in.
CORPORATE SOCIAL RESPONSIBILITY (CSR):
Considering the lower turnover, net worth and net profit of the Company, provision of
Section 135 of the Companies Act, 2013 is not applicable to your Company, hence it is not
required to formulate Corporate Social Responsibility policy during the year 2023-24.
POLICY FOR DETERMINATION OF MATERIALITY OF EVENTS / INFORMATION:
Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligation
and Disclosure Requirements) Regulation, 2015, every listed entity shall frame a policy
for determination of materiality based on criteria specified in Securities and Exchange
Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015 duly
approved by its board of directors. Accordingly, your Company has adopted the same and
made available on Company's website at www.mercurvtradelinks.co.in
DOCUMENT RETENTION AND ARCHIVAL POLICY
Pursuant to Regulation 9 of Securities and Exchange Board of India (Listing Obligation
and Disclosure Requirements) Regulation, 2015, every listed entity shall have a policy for
preservation of documents, duly approved by its board of directors. Accordingly, your
Company has adopted the same. Policy is available on the website of the Company i.e., www.mercurytradelinks.co.in.
CODE OF CONDUCT FOR THE PREVENTION OF INSIDER TRADING
The Board of Directors has adopted the Insider Trading Policy in accordance with the
requirements of the SEBI (Prohibition of Insider Trading) Regulation, 2015.The Insider
Trading Policy lays down the guidelines and procedures to be followed, and disclosures to
be made while dealing with the shares of the Company, as well as the consequences of
violation. The policy has been formulated to regulate, monitor and ensure reporting of
deals by employees and to maintain the highest ethical standards of dealing in Company
securities.
The Insider Trading Policy of the Company covering code of practices and procedures for
fair disclosure of unpublished price sensitive information and code of conduct for the
prevention of Insider Trading is available on our website www.mercurytradelinks.co.in
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
As the Company is not engaged in any manufacturing activities and there was no
technology absorption and no foreign exchange earnings or outgo, during the year under
review. Hence, the information as required under Section 134(3) (m) of the Companies Act,
2013 read with The Companies (Accounts) Rules, 2014 is to be regarded as Nil.
RELATED PARTY TRANSACTIONS
All Related Party Transactions (RPTs) which were entered into during the financial year
were on an arm's length basis and were in the ordinary course of business and did not
attract provisions of section 188 of the Companies Act, 2013 and were also not material
RPTs under regulation 23 of the SEBI Listing Regulations, 2015. During the year 2023-24 as
required under section 177 of the Companies Act, 2013 and regulation 23 of the SEBI
Listing Regulations, 2015, all RPTs were placed before the Audit Committee for approval.
There were no transactions entered into with related parties, during the period under
review, which may have had any potential conflict with the interests of the Company.
Accordingly, the disclosure of Related Party Transactions as required under Section 134(3)
(h) of the Companies Act, 2013 in Form AOC-2 is not applicable.
SUBSIDIARY COMPANY:
As on March 31, 2024, the Company does not have any subsidiary.
PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEE GIVEN AND SECURITIES PROVIDED
However, the Company has not made/given loans, guarantees or provided securities to
other bodies corporate or persons falling under the provisions of section 186 of the Act
during the year 2023-24.
DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION. PROHIBITION
& REDRESSAL) ACT 2013
Your Company is committed to provide a safe & conducive work environment to its
employees and has formulated ‘Policy for Prevention of Sexual Harassment' to
prohibit, prevent or deter any acts of sexual harassment at workplace and to provide the
procedure for the redressal of complaints pertaining to sexual harassment, thereby
providing a safe and healthy work environment. During the year under review, no case of
sexual harassment was reported. Policy is available on the website of the Company i.e., www.mercurytradelinks.co.in.
DIRECTORS RESPONSIBILITY STATEMENT
As required under Section 134(3) (c) of the Companies Act, 2013 with respect to the
Director's Responsibility Statement, it is hereby confirmed:
i) That in preparation of Annual Accounts for the Year ended 31st March,
2024, the applicable Accounting Standards have been followed along with proper explanation
relating to material departures.
ii) That the Directors have 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 state of affairs of the Company at the end of the Financial
Year and of the profit of the Company for that period.
iii) The Directors have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of the Companies Act, 2013
for safeguarding the assets of the Company and for preventing and detecting fraud and
other irregularities.
iv) That the Directors have prepared the Annual Accounts on a going concern basis.
v) The Directors had laid down Internal Financial Control to be followed by the Company
and such internal financial controls are adequate and were operating effectively.
vi) The Directors had devised proper systems to ensure compliance with the provisions
of all applicable laws and that such system was adequate and operating effectively.
INDIAN ACCOUNTING STANDARDS
Our company has adopted Indian Accounting Standard (Ind AS) notified by MCA and the
relevant provision of the Companies Act, 2013 and the general circulars issued by the
Ministry of Corporate Affairs from time to time. The significant accounting policies which
are consistently applied have been set out in the notes to the Financial Statements.
SECRETARIAL STANDARDS OF ICSI
Pursuant to the approval given on 10 April 2015 by the Central Government to the
Secretarial Standards specified by the Institute of Company Secretaries of India, the
Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings
(SS-2) came into effect from 1 July 2015. The Company is in compliance with the same.
DETAILS OF NON-COMPLIANCE/ PENALTIES/ STRICTURES IMPOSED ON THE COMPANY BY THE
STATUTORY AUTHORITIES:
The Company has complied with the requirements of the Stock Exchanges, Securities and
Exchange Board of India and other statutory authorities on all matters relating to capital
markets during the last three years and no penalties or strictures have been imposed on
the Company by any Stock Exchange, Securities and Exchange Board of India or other
statutory authorities.
COMPLIANCE OF MANDATORY AND DISCRETIONARY REQUIREMENTS:
Mandatory
The Company has fully complied with the mandatory requirement of the SEBI Listing
Regulations, 2015.
MEANS OF COMMUNICATION:
The quarterly and annual financial results are sent to the Stock Exchanges immediately
after they are approved and taken on record by the Board of Directors. and are also made
available on the website of the Company, ‘www.mercurytradelinks.co.in' and on BSE
website (www.bseindia.com Scrip Code: 512415). The Company displays official news
releases as and when situation arises. Email id: mercurvtradelinkslimited@gmail.com
Annual Reports are dispatched to all the shareholders.
MAXIMUM TENURE OF INDEPENDENT DIRECTORS
The maximum tenure of independent directors is in accordance with the Companies Act,
2013 and regulation 25(2) of the SEBI Listing Regulations, 2015.
PERFORMANCE EVALUATION
Pursuant to the provisions of Section 178 of the Companies Act, 2013 and as per
Regulation 17 of Securities Exchange Board of India (Listing obligations & Disclosure
Requirements) Regulations, 2015, the Board has carried out annual performance evaluation
of its own performance, the directors individually as well as evaluation of working of
committees of Board of Directors.
Independent Directors, being evaluated by entire board except of Director being
evaluated, on meeting their obligations connected with their independence criteria as well
as adherence with the requirements of professional conduct, roles, functions and duties
specifically applicable to Independent Directors as contained in Schedule IV to the
Companies Act, 2013.
Chairman and other Non-Independent Directors were being evaluated by Independent
Director, who also reviewed the performance of secretarial department. Performance
evaluation of the Committees and that of its members in effectively discharging their
duties, were also being carried out by board.
STATUTORY DISCLOUSURE
Details as required under the provisions of section 197(12) of the Companies Act, 2013,
read with rule 5(1) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, are placed on the Company's website www.mercurytradelinks.co.in.
A physical copy of the same will be made available to any shareholder on request.
Details as required under the provisions of section 197(12) of the Companies Act, 2013,
read with rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, will be made available to any shareholder on request, as per
provisions of section 136(1) of the said Act.
APPRECIATIONS AND ACKNOWLEDGEMENTS
The Board of directors' places on record its sincere appreciation for the dedicated
efforts put in by all employees, their commitment and contribution at all levels, in most
difficult and challenging environment during the year. Your directors would like to record
their sincere appreciation for the support and co-operation that your Company received
from business associates and other strategic partners of the company.
Your directors wish to place on record their sincere appreciation and thanks for the
valuable cooperation and support received from the Registrar of Companies,Ahmedabad
Ministry of Company Affairs, Company's bankers, financial institutions, Regulatory
Authorities, Stock Exchanges and shareholders at large and look forward to the same in
greater measure in the coming years.
Your directors also wish to place on record their appreciation of the devoted services
of the company's employee, which have in great way contributed to the Company's progress.
For and on behalf of
Mercury Trade Links Limited
Sd/-
AASHRAY P LAKHANI
Managing Director
DIN: 10367223
Place: Ahmedabad, Gujarat
Date: 3rd September,2024
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