To,
The Members,
CEENIK EXPORTS (INDIA) LIMITED
The Board of Directors of the Company have great pleasure in presenting the 31st
Boards' Report of the Company together with Audited Financial Results for the year ended
March 31, 2025. This report states compliance as per the requirements of the Companies
Act, 2013 ("the Act"), the Secretarial Standards, the Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
("Listing Regulations") and other rules and regulations as applicable to the
Company.
1. FINANCIAL PERFORMANCE:
The highlight of the financial performance of the Company for the year ended March 31,
2025 is summarized as follows:
(Amount in lakhs)
| Particulars |
FY 2024-25 |
FY 2023-24 |
| Revenue from Operations |
- |
- |
| Other Income |
1,602.28 |
542.08 |
| Total Income |
1,602.28 |
542.08 |
| Employee Benefit Expenses |
17.55 |
23.14 |
| Financial Cost |
132.52 |
170.06 |
| Depreciation and amortization expenses |
16.33 |
20.60 |
| Other Expenses |
1,934.22 |
243.48 |
| Total Expenses |
2,100.62 |
457.28 |
| Profit/(Loss) before Tax |
(498.34) |
84.80 |
| Less: Exceptional items |
- |
- |
| Profit/(Loss) before Tax |
(498.34) |
84.80 |
| Provision for Taxation (Net) |
(3.15) |
(27.58) |
| Profit/(Loss) after tax |
(501.49) |
57.22 |
| Other Comprehensive income for the financial year |
- |
- |
| Total Comprehensive income/(loss) for the financial year |
(501.49) |
57.22 |
| Earnings per Equity Share (^) - Face value of 10/- each |
(12.47) |
1.71 |
2. PRINCIPAL ACTIVITY AND FINANCIAL PERFORMANCE OVERVIEW:
PRINCIPAL ACTIVITY:
The principal activity of the Company is Manufacturing of garments. There have been no
significant changes in the nature of the principal activities during the financial year.
The Company is trying to make the optimum use of the resources so available.
FINANCIAL PERFORMANCE OVERVIEW
During the year under review, the Company has earned a total Income of Rs. 1,602.28
Lakhs for the year ended March 31, 2025 as against Rs. 542.08 Lakhs in the previous
financial year.
The Company has recorded a profit (PBT) of Rs (498.34) Lakhs for the year ended March
31, 2025 as compared to Rs 84.80 Lakhs in the previous financial year.
The Profit/ (Loss) after Tax (PAT) for the year ended March 31, 2025 stood at Rs
(501.49) Lakhs as compared to Rs 57.22 Lakhs in the previous financial year.
3. DIVIDEND/ TRANSFER TO RESERVES:
The Board of Directors of the Company has declared the Interim Dividend @150% (Rs
15/-Per Equity Share) For the Financial Year 2024-2025.
The Board of directors of the company has not recommended final Dividend for the
financial year 2024-25.
In Financial year 2024-25 the net reserve maintained with the Company is Rs. 1677.42
Lakhs, while in the year 2023-24 reserve was Rs. 636.81 Lakhs.
Your Company has not transferred the profits for year ended March 31, 2025 to Reserves
and Surplus.
4. MATERIAL CHANGES AND COMMITMENTS BETWEEN THE END OF THE FINANCIAL YEAR OF THE
COMPANY TO WHICH THE FINANCIAL STATEMENT RELATE AND THE DATE OF THIS REPORT:
There are no material changes and commitments between the end of the financial year of
the company to which the financial statement relates and the date of this report.
5. DEPOSITS:
The Company has neither accepted nor renewed any deposits falling within the purview of
Section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules
2014 as amended from time to time, during the year under review.
6. CHANGE IN THE NATURE OF BUSINESS:
There has been no change in the Business of the Company during the financial year ended
March 31, 2025.
7. CAPITAL STRUCTURE:
AUTHORIZED SHARE CAPITAL
The Authorized Share Capital of the Company as on March 31, 2025 was Rs 7,50,00,000 /-
(Rupees Seven Crore Fifty Lakhs) divided into 75,00,000 shares of Rs 10/- each.
ISSUED AND PAID-UP CAPITAL
The paid-up Equity Share Capital as on March 31, 2025 was Rs. 4,02,00,000 /- (Rupees
Four Crore Two Lakhs Only) divided into 40,20,000 Shares of Rs. 10/- each.
CHANGES IN SHARE CAPITAL: There is change in share capital of Company during the
financial year. As the Company has made Bonus issue of the shares of the company, hence
the Issued and Paid-up Share Capital of the Company was Increased from Rs 3,35,00,000
divided into 33,50,000 shares of Rs 10 Each to Rs 4,02,00,000 divided into 40,20,000
shares of Rs 10 each.
8. DISCLOSURES RELATING TO HOLDING, SUBSIDIARY, ASSOCIATE COMPANY AND JOINT VENTURES:
As on March 31, 2025 the Company does not have Holding, Subsidiaries, Associate
Company, and Joint Venture Company.
9. DIRECTORS & KEY MANAGERIAL PERSONNEL:
The Board is duly constituted according to the provisions of the Company Act.
The Directors on the Board have submitted notice of interest under Section 184(1),
intimation under Section 164(2) of the Companies Act, 2013 and declaration as to
compliance with the Code of Conduct of the Company.
The present Directors of the Company are Mr. Narain Nanik Hingorani, Mr. Kavita Narain
Hingorani, Ms. Vasantiben Jayantibhai Menat, Mr. Vijay Anant Chavan.
Further during the year under review, following changes regarding
appointment/reappointment has been done in Management of Company:
1. Appointment of Mr. Vijay Anant Chavan as Non-Executive Independent Directors of the
Company;
2. Appointment of Ms. Vasantiben Jayantibhai Menat as Non-Executive Independent
Directors of the Company;
3. Resignation of Ms. Devanshi Damani as a Non-Executive Independent director;
4. Resignation of Ms. Nidhi Grover as a Non-Executive Independent director;
5. Resignation of Mr. Bhagwan Shivaji Gore as a Company Secretary & Compliance
Officer.
6. Appointment of Ms. Mitali Chhoriya as a Company Secretary & Compliance Officer;
7. Details of all Directors/KMP which has been appointed/resigned has been mentioned
below:
| Sr. No Name of Director |
Designation |
Appointment/ Resignation |
Date of Appointment/ Cessation/ Change in Designation |
| 1 Mr. Narain Nanik Hingorani |
Managing Director |
No Change |
01/02/1995 |
| 2 Mrs. Kavita Narain Hingorani |
Director |
No Change |
14/03/2015 |
| 3 Mr. Vijay Anant Chavan |
Non-Executive, Independent Director |
Appointment |
14/10/2024 |
| 4 Mrs. Vasantiben Jayantibhai Menat |
Non-Executive, Independent Director |
Appointment |
20/11/2024 |
| 5 Ms. Devanshi Damani |
Non-Executive, Independent Director |
Resignation |
21/01/2025 |
| 6 Ms. Nidhi Grover |
Non-Executive, Independent Director |
Resignation |
12/06/2024 |
| 7 Mr. Dhondiram Shankar Karnale |
Chief Financial Officer |
No Change |
15/07/2019 |
| 8 Mr. Bhagwan Shivaji Gore |
Company Secretary & Compliance Officer |
Resignation |
03/07/2024 |
| 9 Ms. Mitali Chhoriya |
Company Secretary & Compliance Officer |
Appointment |
20/11/2024 |
Further during the year under review, following changes regarding
appointment/reappointment has been done in Management of Company:
10. STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTORS:
Pursuant to the provisions of sub-section (7) of Section 149 of the Companies Act,
2013, the Company has received individual declarations from all the Independent Directors
confirming that they fulfil the criteria of Independence as specified in Section 149(6) of
the Companies Act, 2013.
The Independent Director have complied with the Code of Conduct for Independent
Directors prescribed in Schedule IV of the Act. In view of the available time limit, those
Independent Director who are required to undertake the online proficiency self-assessment
test as contemplated under Rule 6(4) of the Companies (Appointment and Qualification of
Directors) Rules, 2014, had committed to perform the test within time limit stipulated
under the act however two Independent directors yet to complete the online proficiency
selfassessment test as they have two years' time period for completion of the same and
company already ask them to complete online proficiency self-assessment test. The Company
has received declarations from all Independent Directors of the Company confirming that
they continue to meet the criteria of Independence as prescribed under Section 149 of the
Companies Act 2013.
11. BOARD AND COMMITTEE MEETING:
Number of Board Meetings:
During the financial year ended March 31, 2025, fourteen (14) meetings of the Board of
Directors were conducted in accordance with the provisions of the Companies Act, 2013 and
rules made there under. The intervening gap between two Board Meeting was within the
period prescribed under the Companies Act, 2013 and as per Secretarial Standard-1. The
prescribed quorum was presented for all the Meetings and Directors of the Company actively
participated in the meetings and contributed valuable inputs on the matters brought before
the Board of Directors from time to time.
12. COMMITTEES OF THE BOARD:
The Company has three committees viz; Audit Committee, Nomination and Remuneration
Committee, Stakeholders Relationship Committee which has been established as a part of the
better Corporate Governance practices and is in compliance with the requirements of the
relevant provisions of applicable laws and statutes.
I. Audit Committee:
The Audit Committee of the Company is constituted under the provisions of section 177
of the Companies Act, 2013.
Composition of the Committee:
| Sr. No. Name |
Designation |
| 1. Mr. Vijay Anant Chavan |
Chairman |
| 2. Mr. Vasantiben Jayantibhai Menat |
Member |
| 3. Mr. Narain Nanik Hingorani |
Member |
All the recommendation made by the Audit Committee in the financial year 2024-25 was
approved by the Board.
Meeting of Audit Committee and Relevant Quorum:
The Audit Committee shall meet at least four times in a year and not more than one
hundred and twenty days shall elapse between two meetings. The quorum for Audit Committee
meeting shall either be two members or one third of the members of the Audit Committee,
whichever is greater, with at least two Independent Directors.
The Chairman of the Committee must attend the Annual General Meetings of the Company to
provide clarifications on matters relating to the audit.
During the year under review, the Company held 9 (Nine) Audit Committee meetings. And
There was Reconstitution of Audit Committee on 21st January 2025. As Devanshi
Damani has resigned from the position and Appointing Mr. Vijay Anant Chavan and Vasantiben
Jayantibhai Menat in the present Audit Committee.
Company Secretary shall act as the secretary to the Audit Committee.
II. Nomination & Remuneration Committee:
The Nomination & Remuneration Committee of the Company is constituted under the
provisions of section 177 of the Companies Act, 2013.
Composition of the Committee:
| Sr. No. Name |
Designation |
| 1. Mr. Vijay Anant Chavan |
Chairman |
| 2. Mr. Vasantiben Jayantibhai Menat |
Member |
| 3. Ms. Kavita Narain Hingorani |
Member |
Meeting of Nomination and Remuneration Committee and Relevant Quorum:
The quorum necessary for a meeting of the Nomination and Remuneration Committee shall
be two members or one third of the members, whichever is greater. The Committee is
required to meet at least once a year.
During the year under review, the Company held 3 (Three) Nomination and Remuneration
Committee meetings. There was also a Reconstitution in the Committee as Devanshi Damani
has resigned from the position in the Company on 21st January 2025 and
appointed Vijay Anant Chavan and Vasantiben Jayantibhai Menat in the present Nomination
and Remuneration Committee of the Company
Company Secretary shall act as the secretary to the Nomination and Remuneration
Committee.
III. Stakeholder Relationship Committee
The Stakeholder Relationship Committee of the Company is constituted under the
provisions of section 177 of the Companies Act, 2013.
Composition of the Committee:
| Sr. No. Name |
Designation |
| 1. Mr. Vijay Anant Chavan |
Chairman |
| 2. Mr. Narain Nanik Hingorani |
Member |
| 3. Ms. Kavita Narain Hingorani |
Member |
Meeting of Stakeholder's Relationship Committee and Relevant Quorum:
The Stakeholder's Relationship Committee shall meet once in a year. The quorum for a
meeting of the Stakeholder's Relationship Committee shall be two members present.
During the year under review, the Company held 1 (one) Stakeholders Relationship
Committee meeting. Company Secretary shall act as the secretary to the Stakeholder's
Relationship Committee.
13. NOMINATION AND REMUNERATION POLICY:
The Company believes that building a diverse and inclusive culture is integral to its
success. A diverse Board, among others, will enhance the quality of decisions by utilizing
different skills, qualifications, professional experience and knowledge of the Board
members necessary for achieving sustainable and balanced development. In terms of SEBI
Listing Regulations and Act, the Company has in place Nomination & Remuneration
Policy.
The said policy of the Company, inter alia, provides that the Nomination and
Remuneration Committee shall formulate the criteria for appointment of Executive,
Non-Executive and Independent Directors on the Board of Directors of the Company and
persons in the Senior Management of the Company, their remuneration including
determination of qualifications, positive attributes, independence of directors and other
matters as provided under sub-section (3) of Section 178 of the Act (including any
statutory modification(s) or re- enactment(s) thereof for the time being in force). The
Policy also lays down broad guidelines for evaluation of performance of Board as a whole,
Committees of the Board, Individual Directors including the Chairperson and the
Independent Directors. The aforesaid Nomination and Remuneration Policy has been uploaded
on the website of your Company www.ceenikexports.in
14. CORPORATE GOVERNANCE REPORT:
Pursuant to Regulation 15(2)(a) of the SEBI Listing Regulations, the provisions of
regulations 17, 17A, 18, 19, 20, 21, 22, 23, 24, 24A, 25, 26, 27 and clauses (b) to (i)
and (t) of sub regulation (2) of regulation 46 and para C, D and E of Schedule V of SEBI
Listing Regulations are not applicable to the Company.
The company has duly filed Non-Applicability Certificate of Corporate Governance under
Regulation 27 of (Listing Obligations and Disclosure Requirements) Regulations, 2015 with
the exchange.
15. FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS:
The Board members are provided with necessary documents/ brochures, reports and
internal policies to enable them to familiarize with the Company's procedures and
practices, the website link is www.ceenikexports.in/
ANNUAL EVALUATION:
Pursuant to the provisions of the Companies Act and the SEBI Listing Regulations, a
structured questionnaire was prepared for evaluating the performance of Board, its
Committees and Individual Director including Independent Directors. The questionnaires
were prepared after taking into consideration the various facets related to working of
Board, its committee and roles and responsibilities of Director. The Board and the
Nomination and Remuneration Committee reviewed the performance of the Individual Directors
including Independent Directors on the basis of the criteria and framework adopted by the
Board. Further, the performance of Board as a whole and committees were evaluated by the
Board after seeking inputs from all the Directors on the basis of various criteria. The
Board of Directors expressed their satisfaction with the evaluation process. In a separate
meeting of Independent Directors, the performance of Non-Independent Directors,
performance of Board as a whole and performance of the Chairman was evaluated, taking into
account the views of the Executive Directors and Non-Executive Directors.
16. CORPORATE SOCIAL RESPONSIBILITY:
The Company does not fulfil any of the three criteria specified in Section 135(1) of
the Companies Act, 2013 and as such is not required to comply with the provisions of
Section 135 and the Companies (Corporate Social Responsibility Policy) Rules, 2014.
17. VIGIL MECHANISM FOR THE DIRECTORS AND EMPLOYEES:
The Company has established a vigil mechanism, through a Whistle Blower Policy, where
Directors and employees can voice their genuine concerns or grievances about any unethical
or unacceptable business practice. A whistle-blowing mechanism not only helps the Company
in detection of fraud, but is also used as a corporate governance tool leading to
prevention and deterrence of misconduct.
It provides direct access to the employees of the Company to approach the Compliance
Officer or the Chairman of the Audit Committee, where necessary. The Company ensures that
genuine Whistle Blowers are accorded complete protection from any kind of unfair treatment
or victimization. The Whistle Blower Policy is disclosed on the website of the Company at
www.ceenikexports.in/
RISK MANAGEMENT:
The Board of the Company has evaluated a risk management to monitor the risk management
plan for the Company. The Audit Committee has additional oversight in the area of
financial risk and controls. Major risks identified by the businesses and functions are
systematically addressed through mitigating actions on continuing basis.
18. PARTICULARS OF LOANS, GURANTEES OR INVESTMENTS UNDER SECTION 186:
The details of loans, guarantees or investments covered under Section 186 of the
Companies Act, 2013 are given in the Note to the Financial Statements.
19. MATERIAL ORDERS OF JUDICIAL BODIES/ REGULATORS
No order, whether significant and/or material has been passed by any regulators,
courts, tribunals impacting the going concern status and Company's operations in future.
20. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES UNDER SECTION 188 OF
THE ACT
The particulars of the contracts or arrangements entered into by the Company with
related parties as referred to in Section 134(3)(h) read with section 188(1) of the Act
and rules framed thereunder, in the Form No. AOC-2 are annexed and marked as Annexure - I.
21. AUDITORS:
STATUTORY AUDITORS
M/s. J. S. Uberoi & Co., Chartered Accountants (Firm Registration No. 111107W) were
appointed as the statutory auditors of the Company at the 30th Annual General
Meeting of the Company for a term of five consecutive years i.e. from the conclusion of 30th
AGM, till the conclusion of 35th AGM in terms of provisions of section 139 of
the Act.
Further the Statutory Auditors have submitted their Report on the Financial Statements
for the financial year ended March 31, 2025, which forms part of this Report. Also, there
is no qualifications, reservations or adverse remarks made by the M/s. J. S. Uberoi &
Co., Statutory Auditor of Company in their Audit Report for the year under review.
SECRETARIAL AUDITORS
Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors has appointed
M/s. Dilip Swarnkar & Associates, Practicing Company Secretary, as Secretarial
Auditors of the Company for the year under review. The Secretarial Audit report received
from the Secretarial Auditors is annexed to this report marked as Annexure-II and forms
part of this report.
INTERNAL AUDITORS
The Board of Directors, based on the recommendation of the Audit Committee and pursuant
to the provisions of section 138 of the Act read with the Companies (Accounts) Rules,
2014, has appointed Mr. Sunil Powar as the Internal Auditor of your Company for the year
under review. The Internal Auditor conducts the internal audit of the functions and
operations of the Company.
AUDITOR'S REPORT AND SECRETARIAL AUDIT REPORT
Statutory Auditor's Report: There are no qualifications, reservations or adverse
remarks made by Statutory Auditors in the Auditor's report. The Statutory Auditors have
not reported any incident of fraud to the Audit Committee of the Company under subsection
(12) of section 143 of the Companies Act, 2013, during the year under review.
The notes on accounts referred to the Auditors' Report are self-explanatory and
therefore, do not call for any further explanation.
Secretarial Auditor's Report: There are no qualifications, reservations or adverse
remarks made by Statutory Auditors in the Auditor's report.
22. EXTRACTS OF ANNUAL RETURN:
In accordance with Section 92(3) and Section 134(3)(a) of the Companies Act, 2013 read
with Companies (Management and Administration) Rules, 2014, the Annual Return as on March
31, 2025 is available on the Company's website www.ceenikexports.in.
23. MANAGEMENT DISCUSSION & ANALYSIS REPORTS:
The Management Discussion and Analysis Report in terms of the provisions of Regulation
34 of the SEBI (Listing Regulations and Disclosure Requirements) Regulations, 2015
(Listing Regulations) is enclosed as a part of this report as Annexure - III.
24. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:
Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo:
The information pursuant to section 134(3)(m) of the Companies Act, 2013 read with Rule
8 of the Companies (Accounts) Rules, 2014:
[A] CONSERVATION OF ENERGY:
1. Steps taken and impact on conservation of energy: Not Applicable
2. Steps taken by the Company for utilizing alternate sources of energy: None
3. Capital investment on energy conservation equipment: None
[B] TECHNOLOGY ABSORPTION:
1. Efforts made towards technology absorption: There is no imported technologies
2. Benefits derived like product improvement, cost reduction, product development or
import substitution: Not Applicable
3. Information regarding technology imported ruing the last three years: No Technology
is imported
4. Expenditure incurred on Research and Development:
Amt in Rs.
| Particulars |
2024-25 |
| Capital |
NIL |
| Recurring |
NIL |
| Total: |
NIL |
| Total R&D expenditure as a percentage of total turnover |
N.A. |
Further the Company has ceased its Garments and Textile business operations with effect
from April 1, 2025. The details of Foreign Exchange Earnings and Outgo during the year are
NIL.
25. STATEMENT PURSUANT TO SECTION 197(12) OF THE COMPANIES ACT, 2013 READ WITH RULE 5
OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014:
Disclosures pertaining to remuneration and other details as required under Section
197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 is provided in this Report as Annexure IV which forms
part of this Report.
26. HUMAN RESOURCES
The relations with the employees and associates continued to remain cordial throughout
the year. The Directors of your Company wish to place on record their appreciation for the
excellent team spirit and dedication displayed by the employees of the Company.
27. INDIAN ACCOUNTING STANDARDS:
The Ministry of Corporate affairs vide its notification dated February 16, 2015 has
notified the Companies (Indian Accounting Standards) Rules, 2015. In pursuance of this
notification, the Company has adopted IND AS and the financial statements for the year
ended March 31, 2025 are prepared in accordance to the same.
28. DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
& REDRESSAL) ACT, 2013:
The Company is committed to provide a safe and conducive work environment to its
employees. There exist at the group level an Internal Complaints Committee ('ICC')
constituted under The Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013. The group is strongly opposed to sexual harassment and employees are
made aware about the consequences of such acts and about the constitution of ICC. During
the year under review, no complaints were filed with the Committee under the provisions of
the said Act in relation to the workplace/s of the Company.
29. COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD AND ANNUAL GENERAL MEETINGS:
The Company has complied with Secretarial Standards issued by the Institute of Company
Secretaries of India on Board meetings and Annual General Meetings.
The Directors have devised proper systems to ensure compliance with the provisions of
all applicable Secretarial Standards and that such systems are adequate and operating
effectively.
30. MAINTENANCE OF COST RECORD:
The provisions relating to maintenance of cost records as specified by the Central
Government under sub section (1) of section 148 of the Companies Act, 2013, were not
applicable to the Company up to March 31, 2025 and accordingly such accounts and records
were not required to be maintained.
31. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS:
The Company has in place adequate Internal Financial Controls with reference to
financial statements. During the year under review, such controls were tested and no
reportable material weakness in the design or operation was observed.
32. GREEN INITIATIVES
In compliance with Regulation 36 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 Notice of the AGM along with the Annual Report 2024-25 is
being sent only through electronic mode to those Members whose email addresses are
registered with the Company/ Depositories. Members may note that the Notice and Annual
Report 2024-25 will also be available on the Company's website www.ceenikexports.in
33. INSOLVENCY AND BANKRUPTCY CODE 2016:
No application or proceeding was initiated in respect of the Company in terms of
Insolvency and Bankruptcy Code 2016.
34. THE DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE
TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOANS FROM BANKS OR FINANCIAL
INSTITUTIONS ALONG WITH THE REASONS THEREOF:
During the year under review, there were no transactions or events with respect to the
one-time settlement with any bank or financial institution; hence no disclosure or
reporting is required.
35. DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to Section 134 of the Companies Act, 2013 ('the Act'), with respect to
Directors Responsibility Statement it is hereby confirmed:
a) The Financial Statements of the Company - comprising of the Balance Sheet as at
March 31, 2025 and the Statement of Profit & Loss for the year ended as on that date,
have been prepared on a going concern basis following applicable accounting standards and
that no material departures have been made from the same;
b) Accounting policies selected were applied consistently and the judgments and
estimates related to these financial statements have been made on a prudent and reasonable
basis, 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 profits and loss of the Company for the year ended on that
date;
c) Proper and sufficient care has been taken for maintenance of adequate accounting
records in accordance with the provisions of the Companies Act, 2013, to safeguard the
assets of the Company and to prevent and detect fraud and other irregularities;
d) Requisite Internal Financial Controls to be followed by the Company were laid down
and that such internal financial controls are adequate and operating effectively; and
e) Proper systems have been devised to ensure compliance with the provisions of all
applicable laws and such systems are adequate and operating effectively.
36. ACKNOWLEDGEMENTS:
Your Director's place on record their sincere thanks to bankers, business associates,
consultants, and various Government Authorities for their continued support extended to
your Companies activities during the year under review. Your Director's also acknowledges
gratefully the shareholders for their support and confidence reposed on your Company.
|
By the order of the Board |
|
For Ceenik Exports (India) Limited |
|
Sd/- |
|
(Narain Nanik Hingorani) |
| Place: Mumbai |
Chairman & Managing Director |
| Date: 12/08/2025 |
DIN:00275453 |
|