To,
The Members,
Upsurge Seeds of Agriculture Limited
Your Directors have pleasure in resenting their Seventh Annual
Report on the Business and Operation of your company together with the Audited
Statement of Account and the
Auditor's Report of your company for the Financial Year ended as
on 31st March 2024.
1. FINANCIAL AND OPERATIONAL HIGHLIGHTS:
(RS. IN LAKHS)
|
Standalone |
| PARTICULARS |
2023-24 |
2022-23 |
| Total Revenue |
13321.48 |
8297.22 |
| Less: Total Expenditure including
Depreciation |
12543.00 |
7781.21 |
| Profit/Loss Before Tax |
778.47 |
516.01 |
| Less: Tax (including Current Tax,
deferred tax & |
53.28 |
40.02 |
| Provision) |
|
|
| Profit After Tax |
725.19 |
475.99 |
| Basic |
8.98 |
7.18 |
| Diluted |
8.98 |
7.18 |
The above figures are extracted from the Standalone Financial
Statements prepared in accordance with generally accepted accounting Principles in India.
The applicable mandatory Accounting Standards as amended specified under section 133 of
the Companies Act, 2013 read with Rule 7of the Companies (Accounts) Rules, 2014 of India
have been followed in preparation of these financial statements and Regulation 33 of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing
Regulations"), as amended.
2. DIVIDEND:
The Board of Directors of your company, after considering holistically
the relevant circumstances has decided that it would be prudent, not to recommend any
Dividend for the year under review and retain the profits of the Company for its future
growth.
3. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND
PROTECTION FUND:
Since there was no unpaid/unclaimed Dividend declared and paid last
year, the provisions of Section 125of the Companies Act, 2013 do not apply.
4. GENERAL RESERVE:
The company does not transfer any amount in Free Reserves during the
year of review.
5. BRIEF DESCRIPTION OF THE STATE OF COMPANY'S WORKING
DURING THE
YEAR/REVIEW OF BUSINESS OPERATIONS:
Your Directors report that the Company has achieved turnover for the
financial year ended March 2024, has increased to Rs.1,32,94,84,753/- as compared to
Rs.82,91,04,187 /- of the previous year. The Company has incurred the Net Profit of
Rs.7,25,19,544/- during the year under review as compared to Rs.4,75,99,416/- of the
previous year. Your Directors assures you that they would grab all business opportunities
that could be seized from the market for the overall development of our business and
foresee bright prospects of the Company in the years to come.
6. CHANGE IN THE NATURE OF BUSINESS:
There is no Change in the nature of the business of the Company during
the year.
7. SHARE-CAPITAL:
The Authorized Share Capital of the Company is Rs.10,00,00,000/-(Rupees
Ten Crores only) divided into 10,000,000 (One crores) equity shares of Rs.10 each.
The Issued, Subscribed and Paid Up Capital of the Company as on March
31, 2024 was Rs.7,05,98,000/-
8. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE
FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL
YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:
There are no material changes occurred subsequent to the close of the
financial year of the Company to which the balance sheet relates and the date of the
report like settlement of tax liabilities, operation of patent rights, depression in
market value of investments, institution of cases by or against the company, sale or
purchase of capital assets or destruction of any assets etc.
9. DEPOSITORY PARTICIPANT:
Your Company's equity shares are available for dematerialization
through National
Securities Depository Limited and Central Depository Services India
Limited.
10.SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES:
No Company have become or ceased to be the Company's subsidiaries,
joint ventures or associate companies during the financial year.
11.PUBLIC DEPOSITS:
The Company has neither invited nor accepted any deposit from the
public with in the Section 73 of the Companies Act, 2013 read with the Companies
(Acceptance of Deposit) Rules, 2014 during the year.
12.AUDITORS:
A. STATUTORY AUDITORS:
M/s. R B & GOHIL & Co., Chartered Accountants, bearing ICAI
Registration Number: 119360W has been appointed as Statutory Auditor of the company
for a period of Five year from this Annual General Meeting will be held on 30.09.2024 till
the conclusion of Annual General Meeting of the company to be held in the Financial year
2027-28.
The report of the Statutory Auditors of the Company forms part of the
annual report. The Statutory Auditor has issued Audit Reports with unmodified opinion on
the Standalone Financial Statements of the Company for the year ended 31st March, 2023.
The Notes on the Financials Statement referred to in the Audit Report
are self-explanatory and therefore, do not call for any further explanation or comments
from the Board under Section 134(3) (f) of the Companies Act, 2013.
During the year under review, the statutory auditors have not reported
to the Audit Committee under section 143(12) of the Companies Act, 2013, any instance of
fraud committed against the Company by its officers of employees, the details of which
would need to be mentioned in the Board Report.
B. INTERNAL AUDITOR:
Company has in place an adequate internal audit framework to monitor
the efficacy of internal controls with the objective of providing to the Audit Committee
and the Board of Directors, an independent and reasonable assurance on the adequacy and
effectiveness of the organization's risk management, internal control and governance
processes.
The framework is commensurate with the nature of the business, size,
scale and complexity of its operations with a risk based internal audit approach.
For the FY 2023-24, Company appointed M/s. K M Chauhan &
ASSOCIATES Chartered Accountant(s), Rajkot (FRN: 125924W) as the Internal Auditors for
conducting Internal audit of systems and processes, providing of observations, impact and
recommendation to strengthen the internal control framework and advise on internal control
process gaps of the company. The Internal
Auditors report to the Audit Committee on half yearly basis. Several
recommendations were received from the Internal Auditors and most of them were compiled by
the management during the FY 2023- 24.
C. SECRETARIAL AUDITOR:
The Board appointed M /s Rakhi Dasgupta, Practicing Company
Secretary, to conduct secretarial audit for the financial year 2023-24. The
secretarial audit report for the financial year ended March 31,2024 is annexed herewith
marked as Annexure I to this report. The Secretarial Audit Report does not contain any
qualification,
reservation or adverse remark. The observation/ remarks provided in the
report are self-explanatory.
13.DISCLOSURE ABOUT COST AUDIT:
The Provisions of Section 148 of the Companies Act, 2013 relating to
the Cost Audit are not applicable to the Company during the financial year.
14.EXPLANATIONS OR COMMENTS BY THE BOARD ON EVERY QUALIFICATION,
RESERVATION OR ADVERSE REMARKS OR DISCLAIMER MADE BY STATUTORY AUDITORS IN AUDIT REPORT:
There are no qualifications, reservations or adverse remarks made by
the Auditors in their report.
15.FRAUDS REPORTED UNDER SECTION 143(12) OF THE COMPANIES ACT, 2013:
No fraud was noticed by the Auditors under Section 143(12) of the
Companies Act, 2013.
16.PARTICULARS OF LOAN, GUARANTEE OR INVESTMENTS UNDER SECTION 186 OF
THE COMPANIES ACT, 2013:
The Company has not given any loan or guarantee and made Investments
covered under provision of Section 186 of the Companies Act, 2013.
17.WEBLINK OF BOARD REPORT, IF ANY:
Company have website i.e. www.usaseedslimited.com. Therefore, publish
Annual Return on the website.
18.PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES:
There was no Contract or arrangement with related parties as per the
Section- 188 of the companies Act 2013 during the year under review.
19. BOARD EVALUATION:
The evaluation framework for assessing the performance of the Directors
of the Company comprises of contributions at the Meeting(s) and strategic perspective or
inputs regarding the growth and performance of the Company, amongst others.
Pursuant to the provisions of the Companies Act, 2013 and rules made
thereunder and as provided under Schedule IV of the Act and Listing Regulations, the Board
has carried an annual performance evaluation of its own performance, all the committees of
Board and the directors individually including Chairman & Managing Director and
Independent Directors in accordance with the criteria of evaluation approved by Nomination
& Remuneration Committee.
Outcome of Evaluation:
Board of the Company was satisfied with the functioning of the Board
and its Committees. The Committees are functioning well and besides covering the
Committees' terms of reference, as mandated by law, important
issues are brought up and discussed in the Committee meetings. The Board was also
satisfied with the contribution of Directors, in their individual capacities.
20.DIRECTORS AND KEY MANAGERIAL PERSONNEL:
Following are the directors in the company as on 31st March,2024:
| Sr. No. |
Name of the Director |
DIN |
Designation |
Date of appointment |
| 01. |
ARVINDKUMAR
JADAVJIBHAI KAKADIA |
06893183 |
Managing
Director |
30/10/2017 |
| 02. |
VIKEN
JENTILAL KAKADIYA |
07822734 |
Whole-time
Director |
30/10/2017 |
| 03. |
SONALBEN
ARVINDBHAI KAKADIYA |
07857775 |
Director |
30/10/2017 |
| 04. |
RASIK VALLBHBHAI
MOLIYA |
09395525 |
Director |
30/11/2021 |
| 05. |
RAJ HITESHKUMAR
KAKKAD |
08867634 |
Director |
30/11/2021 |
| 06. |
PANKAJBHAI
CHANDULAL KOTAK |
09562427 |
Director |
09/04/2022 |
| 07. |
VINODBHAI
RAJABHAI BHADARKA |
09829560 |
Director |
19/12/2022 |
21.BOARD MEETINGS CONDUCTED DURING THE YEAR:
The Board meets at regular intervals to discuss and decide on the
Company's business policies and strategies apart from other Board businesses. A
tentative annual calendar of the Board and Committee Meetings is informed to the
respective Directors to facilitate them to plan their schedule and to ensure their
meaningful participation in the meetings. The notice of meeting of the Board of Directors
and Committees were given well in advance to all the Directors of the Company. Usually,
meetings of the Board are held at the registered office of the Company. The agenda of the
Board/Committee meetings is circulated 7 days prior to the date of the meeting as per
Secretarial Standard on Meeting of Board of Directors (SS-1) issued by ICSI. The agenda
for the Board and Committee meetings includes detailed notes on the items to be discussed
at the meeting to enable the Directors to take an informed decision. The Company had 10
(Ten) Board meetings during the financial year under review.
22.DIRECTOR'S RESPONSIBILITY STATEMENT:
Pursuant to the provision of Section 134(5) of the Companies Act, 2013
as amended with respect to Director's responsibility statement and subject to where so
ever otherwise contained in the Audit Report, Your Directors hereby confirm: i) That in
the preparation of the annual accounts for the financial period ended on 31st March, 2024
the applicable accounting standards had 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 the state of affairs of the Company at the
end of the financial period ended and of the profit or loss of the Company for the period
under review;
iii) That 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 Company being unlisted, sub clause (e) of section 134(5) of the
Companies Act, 2013 pertaining to laying down internal financial controls is not
applicable to the Company.
vi) The Directors had devised proper system to ensure compliance with
the provisions of all applicable laws and that such systems were adequate and operating
effectively.
23.DISCLOSURE OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND
FOREIGN EXCHANGE EARNING AND OUTGO:
Since your company does not own any manufacturing facility, the
requirement pertaining to disclosure of particulars relating to conservation of energy,
research and development and technology absorption, as prescribed under the companies
(Disclosure of particulars in the Report of the Board of Directors) Rules, 2013 are not
applicable.
The foreign exchange earnings and out go are as under:
| Particulars |
Amount |
| Foreign Exchange Earning |
Nil |
| Foreign Exchange out go |
Nil |
24.DECLARATION OF INDEPENDENT DIRECTORS:
The Independent Directors have submitted their disclosures to the Board
that they fulfill all the requirements as stipulated in Section 149(6) of the Companies
Act, 2013 so as to qualify themselves to be appointed as Independent Directors under the
provisions of the Companies Act, 2013 and the rules made thereunder and Listing
Regulations.
25.FAMILIARISATION PROGRAM FOR INDEPENDENT DIRECTORS:
The familiarisation program seeks to update the Directors on the roles,
responsibilities, rights and duties under the Act and other statutes and about the overall
functioning and performance of the Company. The policy and details of familiarisation
programme is available on the website of the Company at www.usaseedslimited.com
26.DISCLOSURE OF COMPOSITION OF NOMINATION AND REMUNERATION COMMITTEE:
In compliance with the provisions of section 178 of the Act and
regulation 19 of the SEBI Listing Regulations, the Board has constituted the Nomination
and Remuneration
Committee ("NRC"). The brief terms of reference of NRC as
specified in clause A of Part D of Schedule II of the Listing Regulations inter alia
contains:
Formulation of the criteria for determining qualifications, positive
attributes and independence of a director and recommend to the Board a policy, relating to
the remuneration of the directors, key managerial personnel and other employees.
Formulation of criteria for evaluation of performance of independent
directors and the
Board.
Devising a policy on Board diversity
Identifying persons who are qualified to become directors of the
Company and who may be appointed in senior management in accordance with the criteria laid
down, and recommend to the Board their appointment and removal.
Recommending the remuneration, in whatever form, payable to the senior
management personnel.
Determining whether to extend or continue the term of appointment of
the independent director, on the basis of the report of performance evaluation of
independent directors.
Perform such functions as are required to be performed by the NRC
committee under the Securities and Exchange Board of India (Share Based Employee Benefits)
Regulations, 2014.
Performing such other activities as may be delegated by the Board
and/or are statutorily prescribed under any law to be attended to by the Nomination and
Remuneration Committee.
The composition of NRC as on March 31, 2024:
|
Status in |
|
| Name of the Director |
|
Nature of
Directorship |
|
Committee |
|
| Mr. Raj Hiteshkumar Kakkad |
Member |
Independent
Director |
| Mr. Rasik Vallbhbhai Moliya |
Chairman |
Independent
Director |
| Mr. Pankajbhai Chandulal Kotak |
Member |
Non-Executive
Director |
27. DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE:
In compliance with the provisions of section 177 of the Act and
regulation 18 of the SEBI LODR Regulations, the Board has constituted an Audit Committee.
The Statutory Auditors and Internal Auditors of the Company are regular invitees at the
Audit Committee Meetings. The Audit Committee holds discussions with the Statutory
Auditors on the ‘Limited Review" of the half- yearly, the
yearly Audit Plan, matters relating to compliance of Accounting Standards, their
observations arising from the annual audit of the Company's accounts and other
related matters. The Audit
Committee is presented with a summary of internal audit observations
and follow up actions thereon. The terms of reference of Audit Committee includes the
matters prescribed under Section 177 of the Companies Act, 2013 read with SEBI (LODR)
Regulation, 2015. The Company Secretary acts as the Secretary to the committee. The
composition of the Audit Committee as at March 31, 2024:
| Name of the
Director |
Status in Committee |
Nature of Directorship |
| Mr. Raj Hiteshkumar Kakkad |
Member |
Independent
Director |
| Mr. Rasik Vallbhbhai Moliya |
Chairman |
Independent
Director |
| Mrs. Sonalben Arvindbhai Kakadiya |
Member |
Whole Time
Director |
During the year under review 5 (Five) Meetings of Audit Committee were
held.
28. STAKEHOLDERS RELATIONSHIP COMMITTEE:
Our Company has formed the Stakeholders Relationship Committee as per
the applicable provisions of the Section 178 of the Companies Act, 2013 and Regulation 20
of SEBI Listing Regulation, 2015 vide Resolution dated April 13, 2022. As The Constituted
Stakeholders Relationship Committee comprises the following:
| Name of the
Director |
Status in Committee |
Nature of Directorship |
| Mr. Raj Hiteshkumar Kakkad |
Chairman |
Independent
Director |
| Mr. Rasik Vallbhbhai Moliya |
Member |
Independent
Director |
| Mr. Arvindkumar Jadavjibhai
Kakadia |
Member |
Managing
Director |
During the year under review, 1 (One) Meeting was held.
29.STATEMENT INDICATING THE DEVELOPMENT AND IMPLEMENTION OF RISK
MANAGEMENT POLICY: -
The risk management includes identifying types of risks and its
assessment, risk mitigation and monitoring and reporting. The Board judges from time to
time Credit Risk/ Liquidity Risk to the fair and reasonable extent that your Company is
willing to
take. The Company has its internal Risk Management Policy as the
elements of risk threatening the Company's existence are very minimal.
30.DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH
REFERENCE TO THE FINANCIAL STATEMENT:
Internal Control Systems has been designed to provide reasonable
assurance that assets are safeguarded, transactions are executed in accordance's with
management's authorization and properly recorded and accounting records are adequate
for preparation of financial statements and other financial information. Internal check is
conducted on a periodical basis to ascertain the adequacy and effectiveness of internal
control systems. In the opinion of the Board, the existing internal control framework is
adequate and commensurate to the size and nature of the business of the Company.
31.DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:
The Company has in place an Anti-Sexual Harassment policy in line with
the requirements of the Sexual harassment of women at the work place (Prevention,
Prohibition, and Redressal) Act,2013. Internal complaints committee
(ICC) has been setup to redress complaints received regarding sexual harassment. All
employees (permanent, contractual, temporary, trainees) are covered under this policy.
During the financial year under review, no case of sexual harassment was reported.
32.PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION
186 OF THE COMPANIES ACT, 2013:
There were no loans, guarantees or investments made by the Company
under Section 186 of the Companies Act, 2013 during the financial year and hence the said
provision is not applicable. Investments made during the year were within the limits
approved by Board of Directors and the limits prescribed under section 186 of the
Companies Act, 2013.
33.RELATED PARTY TRANSACTIONS:
During the financial year ended March 31, 2024, contracts or
arrangements entered with related parties referred to in sub Section (1) of Section 188 of
the Companies Act,
2013 entered by the Company were in the ordinary course of business and
on an arm's length basis.
Thus, disclosure in the Form AOC- 2 is attached herewith as an Annexure-3
and forms a part of this Report.
The Company has adopted a Policy on Related Party Transactions for the
purpose of identification and monitoring of such transactions which is uploaded on the
website of the Company i.e.www.usaseedslimited.com
34.MANAGEMENT DISCUSSION & ANALYSIS REPORT:
The Management Discussion & Analysis Report is attached as Annexure
4 and forms a part of this report.
35.SIGNIFICANT AND MATERIAL ORDER PASSED BY THE REGULATORS/ COURTS:
During the year under review, no significant and material order was
passed by the Regulators or courts.
36.DETAILS OF APPLICATION MADE OR ANY PRECEDING PENDING UNDER
INSOLVENCY AND BANKRUPTCY CODE, 2016 DURING THE FY ALONG WITH THE CURRENT STATUS:
During the year under Review, neither any application was made nor are
any proceedings pending under Insolvency and Bankruptcy Code, 2016.
37.THE 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 REASONS THEREOF:
The requirement of disclosure of 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 reasons thereof is not
applicable during the period under review.
38.MAINTENANCE OF COST RECORD:
Pursuant to Section 148 of the Companies Act, 2013 read with the
Companies (Cost Records and Audit) Rules, 2014, maintenance of cost record is not
applicable to the Company for the Financial Year 2023- 24.
39.COMPLIANCE OF APPLICABLE SECRETARIAL STANDARDS:
During the year of review, Company has complied with the applicable
provisions of Secretarial Standards issued by the Institute of Company Secretaries of
India and approved by the Central Government under section 118(10) of the Companies Act,
2013.
40.ADEQUANCY OF INTERNAL FINANCIAL CONTROL WITH REFERENCE TO THE
FINANCIAL STATEMENTS:
The company in place proper and adequate internal control systems
commensurate with nature of its business, size and complexity of its operation. Internal
Control System comprising of the policy and procedure are design to ensure liability of
financial reporting, timely feedback of achievement of operational and strategic goals,
compliance with policies, procedure, applicable laws and Regulations.
41.PARTICULARS OF EMPLOYEES:
The information required pursuant to Section 197 read with Rule, 5 of
the Companies (Appointment and Remuneration of Managerial personnel) Rules, 2014 in
respect of employees of the Company, will be provided upon request. In terms of Section
136 of the Act, the Report and Accounts are being sent to the Members and others entitled
thereto, excluding the information on employees' particulars which is available for
inspection through electronic mode up to the date of the ensuing Annual General Meeting
upon request. If any Member is interested in obtaining a copy thereof, such Member may
write to the Company Secretary in this regard.
Details Pertaining to Remuneration as Required Under Section 197 (12)
Of The Companies Act 2013 Read with Rule 5(1) Of The Companies (Appointment and
Remuneration Managerial Personnel Rule 2014 is attached herewith as Annexure 2.
42.POLICY RELATED TO APPOINTMENT OF DIRECTORS' AND OTHER RELATED
MATTER:
Company has a policy for the appointment of Directors' which is
managed by the
Nomination and Remuneration Committee as per the provisions of Section
178 of the Companies Act, 2013.
The Committee has specified criteria for determining qualifications,
positive attributes and other matter for the specific post on which appointments are made
and shall be made in future on the board of the Company.
We affirm that the remuneration paid to the Director's is as per
the terms laid out in the nomination and remuneration policy of the Company.
43.CORPORATE SOCIAL RESPONSIBILITY:
The Corporate Social Responsibility Committee has formulated and
recommended to the Board a Corporate Social Responsibility Policy which has been approved
by the Board. The details of the CSR committee as required under Section 135 of the Act
are given in the CSR Report as Annexure 5 to this Report.
44.HUMAN RESOURCES:
Employees of the company are its most precious assets. The company
promotes and practices progressive HR policies to encourage, motivate and attract as well
as retain quality professionals. The attrition level of your company has been very
insignificant. During these turbulent times, the entire non- conventional energy industry
had been
facing challenge in hiring / retaining quality professionals. The
company has taken various initiatives to overcome these challenges to hire / retain
quality professionals.
The Company continues to maintain excellent and cordial Industrial and
Personnel Relations and concerted efforts were put in to maintain harmony and peace. The
Directors express their appreciation for the dedication, commitment and sincere services
rendered by the employees at all levels throughout the year.
45.POLICY RELATED TO APPOINTMENT OF DIRECTORS' AND OTHER RELATED
MATTER:
Company has a policy for the appointment of Directors' which is
managed by the
Nomination and Remuneration Committee as per the provisions of Section
178 of the Companies Act, 2013.
The Committee has specified criteria for determining qualifications,
positive attributes and other matter for the specific post on which appointments are made
and shall be made in future on the board of the Company.
We affirm that the remuneration paid to the Director's is as per
the terms laid out in the nomination and remuneration policy of the Company.
46.DISCLOSURE ON ESTABLISHMENT OF VIGIL MECHANISAM: -
Pursuant to Section 177 of the Companies Act, 2013 and Regulation 22 of
SEBI (Listing Obligations and Disclosure Requirements), 2015, the company has vigil
mechanism in
the form of Whistle Blower Policy for their Directors and employees to
report genuine concerns or grievances to deal with instances of fraud or mismanagement.
47.PREVENTION OF INSIDER TRADING:
The Company has adopted a Code of Conduct for Prevention of Insider
Trading with a view to regulate trading in securities by the Directors and designated
employees of the Company. The said code of conduct is in line with SEBI (Prohibition of
Insider Trading) Regulations, 2015 as amended time to time. The Code requires
pre-clearance for dealing in the Company's shares and prohibits the purchase or sale
of Company shares by the Directors and the designated employees while in possession of
unpublished price sensitive information in relation to the Company and during the period
when the Trading Window is closed. The Board is responsible for implementation of the
Code.
48.ACKNOWLEDGEMENT:
Your directors place on records 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 directors deeply appreciate the committed efforts put in by
employees at all levels, whose continued commitment and dedication contributed greatly to
achieving the goals set by your Company. Your directors also acknowledge gratefully the
shareholders for their support and confidence reposed on your Company.
BY AN ORDER OF BOARD OF DIRECTOR
FOR UPSURGE SEEDS OF AGRICULTURE LIMITED Date:07.09.2024 Place: Kuvadva
| Sd/- |
Sd/- |
| ARVINDKUMAR JADAVJIBHAI
KAKADIA |
VIKEN
JENTILAL KAKADIYA |
| MANAGING DIRECTOR |
DIRECTOR |
| DIN: - 06893183 |
DIN:07822734 |
|