To,
The Members,
The Directors takes immense pleasure in presenting the Annual Report of Cargosol
Logistics Limited (Formerly known as Cargosol Logistics Private Limited) together with
the audited financial statements for the financial year ended 31 st March, 2025.
1. FINANCIAL HIGHLIGHTS:
The Company's financial performance for the year under review along with previous
year's figure is given hereunder:
Amount (in Lakhs)
| Particulars |
Standalone |
Consolidated |
|
2024-25 |
2023-24 |
2024-25 |
2023-24 |
| Income from Operations & other income |
13,226.75 |
11,538.01 |
13,226.74 |
11,404.26 |
| Total Expense |
13,204.54 |
12023.16 |
13,204.54 |
12,023.14 |
| Profit/(Loss) before Tax |
22.20 |
(485.15) |
22.21 |
(618.88) |
| Current Tax |
- |
- |
- |
- |
| Deferred Tax |
9.81 |
(123.48) |
9.81 |
(123.47) |
| Taxation of earlier years |
- |
1.06 |
- |
1.06 |
| Profit/(Loss) after Tax |
12.39 |
(362.74) |
12.39 |
(496.47) |
| Share of Profit/ (Loss) in Associate |
- |
- |
(6.43) |
69.64 |
| Net Profit/(Loss) after Tax |
12.39 |
(362.74) |
5.96 |
(426.83) |
2. STATE OF COMPANY'S AFFAIRS:
The Company is engaged in the business to carry on in India and abroad, the business of
Freight Forwarding, Logistics and Shipping Services of any kind relating to the carriage
(performed by single mode or multi-modal transport means), handling, packing or
distribution of goods including all the logistical services with modern information and
communication technology in connection with the carriage handling or storage of the goods
i.e. warehousing.
There has been no change in the business of the Company during the financial year ended
31 st March, 2025.
The highlights of the Company's performance as compared to the previous F.Y. on Standalone
basis are as under:
• Revenue from operations in the current year is Rs. (in lakhs) 13,200.24/- as
compared to Rs. (in lakhs) 11,354.87/- in the previous year.
• Net profit of the company in the current year is Rs. (in lakhs) 12.39/- as
compared to the loss of Rs. (in lakhs) (362.74)/- in the previous year.
• Earnings per share is Rs. 0.12/- for the current year and Earnings per share is
Rs. (3.56)/- for the previous financial year.
The highlights of the Company's performance as compared to the previous FY on Consolidations
basis are as under:
• Revenue from operations in the current year is Rs. (in lakhs) 13,200.24/- in the
current year as compared to Rs. (in lakhs) 11,354.86/- in the previous year.
• Net profit of the company in the current year is Rs. (in lakhs) 5.96/- as
compared to the loss of Rs. (in lakhs) (426.83)/- in the previous year.
• Earnings per share is Rs. 0.06/- for the current year and Earnings per share is
Rs. (4.18)/- for the previous Financial year.
3. EXTRACT OF ANNUAL RETURN:
Pursuant to Section 134(3)(a) and Section 92(3) of the Act read with Companies
(Management and Administration) Rules, 2014, the Annual Return of the Company in Form
MGT-7 has been placed on the Company's website i.e., www.cargosol.com.
4. DIVIDEND:
In view to strengthen the financial position of the Company the Board of Directors of
your Company does not recommend any Dividend for the FY 2024-25.
5. AMOUNT TRANSFERED TO RESERVES:
During the year under review the company has not transferred any amount to reserves.
6. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND:
Since there was no unpaid/unclaimed Dividend declared and paid last year, the
provisions of Section 125 of the Companies Act, 2013 do not apply.
7. DETAILS OF SUBSIDIARY, JOINT VENTURE AND ASSOCIATE COMPANIES:
The Company has following subsidiaries, joint ventures or associate companies.
| Sr. no. |
Particulars |
Subsidiary/ Joint Venture /Associate Companies |
| 1 |
Cargosol Shipping Agency Private Limited |
Subsidiary |
| 2 |
Cargosol LLC |
Associate |
No company has become or ceased to be the Company's subsidiaries, joint ventures or
associate companies during the year under review.
Further, a statement containing the salient features of the financial statement of
subsidiary in the prescribed format AOC-1 is appended as "Annexure I" to
the Board's report. The statement also provides the details of performance and financial
positions of each of the subsidiaries.
8. MATERIAL CHANGES AND COMMITMENTS:
During the financial year under review, there are no other material changes and
commitments, affecting the financial position of the Company, which have occurred during
the period under review.
9. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS BY THE COMPANY UNDER SECTION
186:
The particulars of loan given, guarantees/securities provided, and investments made by
the Company during the year under review according to the provisions of Section 186 of the
Companies Act, 2013, are provided as "Annexure II" which forms part of
this Report.
10. PARTICULARS OF CONTRACTS AND ARRANGEMENT ENTERED WITH RELATED PARTIES: All
contracts / arrangements / transactions entered into by the Company during the financial
year with related parties are in the ordinary course of business and on arm's length
basis. As provided under section 134(3)(h) of the Act and Rules made thereunder disclosure
of particulars of material transactions with related parties entered into by the Company
with related parties in the prescribed format annexed to this report as an "Annexure
III".
The Policy on dealing with Related Party Transactions may be accessed on the Company's
website at the link- https://cargosol.com/
11. INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY:
The Board has adopted the policies and procedures for ensuring the orderly and
efficient conduct of its business, including adherence to Company Policies, safeguarding
of assets, prevention and detection of frauds and errors, the accuracy and completeness of
the accosting records.
The Company maintains appropriate systems of internal control, including monitoring
procedures, to ensure that all assets are safeguarded against loss from unauthorized use
or disposition. The Company follows all the applicable Accounting Standards for properly
maintaining the books of accounts and reporting financial statements.
12. DETAILS OF CHANGE IN COMPOSITION OF DIRECTORS OR KEY MANAGERIAL PERSONNEL:
Mr. Vinay Kakera,CompanySecretaryandComplianceOfficer of the company, had resigned from
his post on a vide letter dated 11th September, 2024. The resignation was accepted by the
Board of Directors and became effective from 11 th September, 2024.
After the resignation of the above mentioned person the Company deems it necessary to
appoint another person as Company Secretary and Compliance Officer of the company,
pursuant to the provisions of Sections 2(51), 203, 205 of the Companies Act, 2013 read
with Rule 8 and Rule 8A of the Companies (Appointment & Remuneration of Managerial
Personnel) Rules, 2014 and the provisions of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 and all other applicable provisions, if any and the rules
framed thereunder (including any statutory modification(s) or re-enactment(s) thereof, for
the time the Board be and are hereby accorded and appointed Mr. Ashish Goenka as Company
Secretary
04 and Compliance Officer of the Company with effect th March, 2025 on such terms and
conditions as may be agreed between the Board of Directors and Mr. Ashish Goenka.
Following changes were recorded in the composition of Key Managerial Personnel, during
the period under review:
| Name |
Designation |
Appointment/ Resignation |
Date Of Event |
| Mr. Vinay Karkera |
Company Secretary and Compliance officer |
Resignation |
11th September, 2024 |
| Mr. Ashish Goenka |
Company Secretary and Compliance officer |
Appointment |
04th March, 2025 |
13. SHARE CAPITAL:
The details of Share capital of the Company is as under:
| Particulars |
As on 31st March, 2025 |
As on 31st March, 2024 |
|
Number of Shares |
Amount (In Lakhs.) |
Number of Shares |
Amount (In Lakhs.) |
| Authorized Capital: - |
1,10,00,000 |
1,100.00 |
1,10,00,000 |
1,100.00 |
| Equity Shares of Rs. 10/- each |
|
|
|
|
| Issued Subscribed and Paid-Up |
1,02,00,000 |
1,020.00 |
1,02,00,000 |
1,020.00 |
| Equity Share Capital Fully Paid- Up: - |
|
|
|
|
| Equity Shares of Rs. 10/- each |
|
|
|
|
14. DISCLOSURES RELATED TO BOARD, COMMITTEES AND POLICIES: I. BOARD OF DIRECTORS:
The composition of the Board as on 31st March, 2025 is in conformity with the
provisions of the Companies Act, 2013.
The Board of Directors met eight times during the financial year under review 10th
April 2024, 29th May 2024, 04th September 2024, 08th October 2024, 08th November2024, 14th
November 2024,15 th January 2025 and 04th March 2025. The intervening gap between the
meetings was as prescribed under the Companies Act, 2013.
II. COMPOSITION OF THE BOARD:
The Company has a very balanced and diverse composition of Board of Directors, which
primarily takes care of the business needs and stakeholders' interest. The Non-executive
Directors including Independent Directors on the Board are experienced and highly
competent persons in their respective fields of expertise. They take active part at the
Board and Committee Meetings by providing valuable guidance to the Management on various
aspects of business, policy direction, governance, compliance etc. and play pivotal role
on strategic issues, which enhances the transparency and add value in the decision-making
process of the Board of Directors.
| Sr. No. |
DIN |
Name of Directors |
Category |
Designation |
| 1. |
01608551 |
Mr. Roshan Rohira |
Executive Director |
Managing Director |
| 2. |
01608626 |
Mr. Samuel Muliyil |
Executive Director |
Director |
| 3. |
06417315 |
Mrs. Stalgy Muliyil |
Non-Executive Director |
Women Director |
| 4. |
07722850 |
Mr. Mohammed Saifi |
Non-Executive Director |
Independent Director |
| 5. |
09087159 |
Mr. Vishal Wadhwani |
Non-Executive Director |
Independent Director |
Except, Mr. Samuel Janathan Muliyil and Mrs. Stalgy Samuel Muliyil who are husband
and wife, no other Director is related directly or indirectly to any other Directors of
the Company.
III. ATTENDANCE OF DIRECTORS AT BOARD MEETINGS HELD DURING THE FY 2024-25
| Sr. No. |
Name of the Directors |
Attendance at Board Meetings held during FY 2024-2025 |
| 1. |
Mr. Roshan Rohira |
8 |
| 2. |
Mr. Samuel Muliyil |
8 |
| 3. |
Mrs. Stalgy Samuel Muliyil |
8 |
| 4. |
Mr. Mohammed |
8 |
| 5. |
Mr. Vishal Wadhwani |
7 |
IV. COMMITTEES OF THE BOARD:
The Committees of the Board play a vital role in the governance structure of the
Company and help the Board of Directors in discharging their duties and responsibilities.
The Committees have been constituted to deal with specific areas / activities, which
concern the Company. The Committees are set with clearly defined roles and goals, which
are crucial for the smooth functioning of the Company. The Board is responsible for the
action of the Committees. The Chairman of the respective Committees inform the Board about
the summary of the discussions held in the Committee Meetings. The minutes of the meetings
of all the Committees are placed before the Board for review.
There are currently three Committees of the Board, as follows: a. Audit Committee b.
Nomination and Remuneration Committee c. Stakeholders Relationship Committee
Below are the details of all the Committees along with their compositions, and meetings
held during the year:
A. AUDIT COMMITTEE:
Pursuant to Provisions of Section 177 of the Companies Act, 2013 during the financial
year under review the Audit Committee met 4 (four) times on 29th May 2024, 04th September
2024, 08th November 2024 and 14th November 2024.
I. Terms of Reference/ Policy:
Apart from all the matters provided under Section 177 of the Companies Act, 2013, the
Audit
Committee reviews report of the internal auditor, financial auditors as and when
required and discusses their findings, suggestions, observations and other related
matters. It also reviews major accounting policies followed by the Company.
II. Composition of the Audit Committee:
Composition of Audit Committee is as follows:
| Sr. No |
Name of the Director |
Category |
Nature of Directorship |
| 1 |
Mr. Mohammed Saifi |
Chairman |
Independent Director |
| 2 |
Mr. Roshan Rohira |
Member |
Managing Director |
| 3 |
Mr. Vishal Wadhwani |
Member |
Independent Director |
Reconstitution of the Audit and Compliance Committee of the Company had taken place on
08th October 2024.
The Members of the Audit Committeearefinanciallyliterate and have requisite accounting
and financial management expertise. The Audit Committee Policy of the Company is hosted on
the Company's Website at https://cargosol.com/
III. NOMINATION AND REMUNERATION COMMITTEE:
Pursuant to provisions of section 178 of the Companies Act, 2013 during the financial
year under review, the Nomination and Remuneration Committee met 2 (Two) Times on 10th
April 2024 and 04th March 2025. I. Terms of Reference/Policy:
On recommendation of the Nomination and Remuneration Committee the Company has framed a
policy as per Section 178 of the Companies Act, 2013 for selection and appointment of
Directors, Senior Management and their remuneration.
II. Composition of the Nomination and Remuneration Committee:
Composition of Nomination and Remuneration Committee is as follows:
| Sr. No |
Name of the Director |
Category |
Nature of Directorship |
| 1 |
Mr. Mohammed Saifi |
Chairman |
Independent Director |
| 2 |
Mr. Vishal Wadhwani |
Member |
Independent Director |
| 3 |
Mrs. Stalgy Samuel Muliyil |
Member |
Non-Executive Director |
Reconstitution of the Nomination and Remuneration Committee of the Company had taken
place on 08th October 2024.
The Company has Nomination and Remuneration policy, which provides the criteria for
determining qualifications, positive attributes, independence of a Director and policy
relating to remuneration for Directors, Key Managerial Personnel and other employees in
accordance with the provisions of Section 178 of the Companies Act, 2013. The Nomination
and Remuneration Policy of the Company is hosted on the Company's Website at:
https://cargosol.com/
IV. STAKEHOLDERS RELATIONSHIP COMMITTEE:
Pursuant to provisions of section 178 of the Companies Act, 2013 during the financial
under review, the Stakeholders Relationship Committee met 4 (Four) times on 29th May 2024,
04th September 2024, 14th November 2024 and 15th January 2025.
I. Terms of Reference/Policy:
Apart from all the matters provided under section 178 of the Companies Act, 2013. The
Stakeholders Relationship Committee reviews the complaints received from the stakeholders
of the company as and when required and discusses their findings, suggestions,
observations and other related matters.
II. Composition of the Stakeholders Relationship Committee:
Composition of Stakeholders Relationship Committee is as follows:
| Sr. No. |
Name of the Director |
Category |
Nature of Directorship |
| 1 |
Mr. Samuel Muliyil |
Chairman |
Executive Director |
| 2 |
Mr. Roshan Rohira |
Member |
Managing Director |
| 3 |
Mr. Vishal Wadhwani |
Member |
Independent Director |
Reconstitution of the Stakeholders Relationship Committee of the Company had
taken place on 08th October 2024.
The Stakeholders Relationship Committee Policy of the Company is hosted on the
Company's Website at: https://cargosol.com/
15. DIRECTOR'S RESPONSIBILITY STATEMENT:
To the best of their knowledge and belief and according to the information and
explanation obtained by them, your Directors make the following statements in terms of
Section 134(5) of the Companies Act, 2013: i) That in the preparation of the annual
accounts, the applicable accounting standards have been followed and there are no material
departures; ii) That such accounting policies selected 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 year and of the
profit of the Company for that period; iii) That proper and sufficient care for the
accordance with the provisions of the Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities; iv) That they have prepared
the annual accounts on a going concern basis; v) That proper systems to ensure compliance
with the provisions of all applicable laws and that such systems were adequate and
operating effectively. vi) That proper internal financial controls are followed by the
company and that such internal financial controls are adequate and operate effectively.
16. DECLARATION BY INDEPENDENT DIRECTORS:
The Company has received necessary declaration from each Independent Director of the
Company stating that: (i) they meet the criteria of independence as provided in Section
149(6) of the Act and Regulation 16(1)(b) of the Listing Regulations; and (ii) as required
vide Rule 6 (1) & (2) of the Companies (Appointment and Qualifications of
Directors) Rules, 2014 they have registered their names in the Independent Directors'
Databank maintained by the Indian Institute of Corporate Affairs.
Based on the declarations received from the Directors, the Board confirms that the
Independent Directors fulfil the conditions as specified under Schedule V of the Listing
Regulations and are independent of the management.
Statement regarding opinion of the Board with regard to integrity, expertise and
experience
(including the proficiency) of the Independent Directors appointed during the year:
With regard to integrity, expertise and experience (including the proficiency) of the
Independent Directors, the Board of Directors have taken on record the declarations and
confirmationssubmitted by the Independent Directors and is of the opinion that the
Independent Director is a person of integrity and possesses relevant expertise and
experience and his continued association as Director will be of immense benefit and in the
best interest of the Company. Regarding proficiency of the Independent Directors,
ascertained from the online proficiency self-assessment test conducted by the institute,
as notified under sub-section (1) of section 150 of the Act, the Board of Directors have
taken on record the information submitted by Independent Director that he/she has complied
with the applicable laws.
17. DETAILS WITH RESPECT TO THE PROGRAMME FOR FAMILIARISATION OF INDEPENDENT DIRECTORS:
The familiarization programme aims to provide Independent Directors with the industry
scenario, the socio-economic environment in which the Company operates, the business
model, the operational and financial performance of the Company,
andsignificantdevelopments so as to enable them to take well informed decisions in a
timely manner. The familiarization program also seeks to update the Directors on the
roles, responsibilities, rights and duties under the Act and other statutes.
18. SEPARATE MEETING OF INDEPENDENT DIRECTORS:
During the year under review, pursuant to Schedule IV of the Companies Act, 2013 and
the Rules made thereunder all the Independent Directors of the Company met once without
the attendance of Non-Independent Directors and Members of the Management.
The Non-Executive Independent Directors of the Company met on 29th March, 2025. During
the said meeting, the following points were discussed:
The performance of Non-Independent Directors and the Board as a whole.
The performance of the Chairman of the Company taking into account the views of
Executive Director and Non-Executive Directors.
The quality, quantity and timeliness of flow of information between the Company
management and the Board is necessary for the Board to effectively and reasonably perform
its duties All the Non-Executive Independent Directors were present throughout the
meeting. They expressed their satisfaction on the governance process followed by the
Company as well as the information provided to them on a timely basis.
19. PERFORMANCE EVALUATION:
Nomination and Remuneration Committee of the Board has formulated a Performance
Evaluation Framework under which evaluation of the performance of Board as a whole, its
committees and the individual directors was carried out. The Board subsequently evaluated
performance of the Board, the Committees and Independent Directors; without participation
of the concerned Director. The Nomination and Remuneration Committee has approved the
Policy relating to evaluation of every director's performance. Accordingly, evaluation of
all directors was carried out.
20. VIGIL MECHANISM:
The Board of Directors of the Company has pursuant to the provisions of Section 177(9)
of the Companies Act, 2013 read with Rule 7 of the Companies (Meetings of Board and its
Powers) Rules, 2014 established Vigil Mechanism Policy-Whistle Blower Policy for Directors
and employees of the Company to provide a mechanism which ensures adequate safeguards to
employees and Directors from any victimization on raising of concerns of any violations of
legal or regulatory requirements, incorrect or misrepresentation of any financial
statements and/or reports, etc.
The employees of the Company have the right to report their concern or grievance to the
Chairman of the Audit Committee. The Company is committed to adhere to the highest
standards of ethical, moral and legal conduct of business operations. The Whistle Blower
Policy is hosted on the Company's website at https://cargosol.com/
21. RISK MANAGEMENT POLICY:
Risks are events, situations or circumstances which may lead to negative consequences
on the Company's businesses. Risk management is a structured approach to manage
uncertainty. The Board has adopted a Risk Management Policy for all its business divisions
and corporate functions and the same has been embraced in the decision making to ease the
risk involved. Key business risks and their mitigation are considered in day-to-day work
of the Company and in the annual/strategic business plans and management reviews.
22. REMUNERATION OF DIRECTORS AND EMPLOYEES:
Disclosure comprising particulars with respect to the remuneration of directors and
employees, as required to be disclosed in terms of the provisions of Section 197(12) of
the Act and Rule 5(1) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, is annexed as Annexure - IV to this Report.
The statement containing names of top ten employees in terms of remuneration drawn and
the particulars of employees as required under Section 197(12) of the Act read with Rule
5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014, is annexed as Annexure - IV to this Report.
23. AUDITORS & AUDITORS REPORT:
The matters related to Auditors and their Reports are as under: i. STATUTORY
AUDITORS:
At the Extra-Ordinary General Meeting of the Company held on 11th February, 2025, M/s.
T M R & Associates LLP, Chartered Accountants, Mumbai (Firm Registration Number
W100109), were appointed as statutory auditors of the Company to fill the Casual Vacancy
caused by the resignation of M/s. C A S & Co. Chartered Accountants, in the upcoming
AGM it is proposed to the members to appoint them for a term of five years [i.e., till the
conclusion of
Annual General Meeting to be held in Financial Year 2030-2031].
The requirement to place the matter relating to appointment of auditors for
ratification by members at every AGM has been done away by the Companies (Amendment) Act,
2017 with effect from 07 th May, 2018. Accordingly, no resolution is being proposed for
ratification of appointment of statutory auditors at the ensuing AGM. ii. OBSERVATIONS
OF STATUTORY AUDITORS ON ACCOUNTS FOR THE YEAR ENDED
31 ST MARCH 2025:
The auditor's report for the financial year ended 31st March, 2025 does not contain any
qualification, reservation or adverse remark and therefore, do not call for any further
explanation or comments from the Board under Section 134(3) of the Companies Act, 2013. iii.
FRAUD REPORTING:
During the year under review, there were no instances of fraud falling within the
purview of Section 143 (12) of the Companies Act, 2013 and rules made thereunder, by
officers employees reported by the Statutory Auditors of the Company during the course of
the audit conducted.
24. SECRETARIAL AUDITOR:
The Secretarial Auditor, M/s. Jajodia & Associates, Practicing Company Secretary in
practice, (COP No. 19900), has issued Secretarial Audit Report for the Financial Year
2024-25 pursuant to provisions of Section 204 of the Companies Act, 2013, read with
Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, which is annexed as "Annexure
V" and forms part of this Report.
The Secretarial Audit Report does not contain any qualification, reservation, adverse
remarks and disclaimer.
The Company is in compliance with the Secretarial Standards specified by the Institute
of
Company Secretaries of India.
25. INTERNAL AUDITORS:
During the financial year under review, Mr. Nitesh Wankhade, Practicing Chartered
Accountant,
Internal Auditors of the Company, has carried out the Internal Audit and submitted
their Report thereon as per the provisions of Section 138 of Companies Act, 2013.
26. MAINTENANCE OF COST RECORDS:
The provisions pertaining to maintenance of Cost Records as specified by the Central
Government under subsection (1) of section 148 of the Companies Act, 2013, are not
applicable to the Company.
27. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
Management Discussion and Analysis Report for the year under review as required
pursuant to the provisions of Schedule V of the SEBI Regulations forms part of this Annual
Report.
28. ENERGY CONSERVATION AND TECHNOLOGY ABSORPTION:
The particulars as required under the provisions of Section 134(3) (m) of the Companies
Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2015 in respect of
conservation of energy, technology absorption, etc. are as mentioned below: a)
Conservation of Energy:
| Steps taken or impact on conservation of energy Steps taken by the company to utilize
alternate sources of energy |
The Company lays great emphasis on saving consumption of energy.
Achieving reductions in energy consumption is an ongoing exercise |
| Capital investment on energy conservation equipment |
in the Company. Effective measures have been taken to minimize the loss
of energy, wherever possible. |
b) Technology Absorption:
| Efforts made towards technology absorption Benefits derived like product improvement,
cost reduction, product development or import substitution |
Nil |
| In case of imported technology (imported during the last three years reckoned from the
beginning of the financial year): |
|
| Details of technology imported |
Nil |
| Year of import |
Not Applicable |
| Whether the technology has been fully absorbed |
Not Applicable |
| If not fully absorbed, areas where absorption has not taken place, and the reasons
thereof |
Not Applicable |
| Expenditure incurred on Research and Development |
Nil |
29. DEPOSITS:
The following details of deposits, covered under Chapter V of the act: (a) Deposits
accepted during the year; - Nil (b) Remained unpaid or unclaimed as at the end of the
year; - Nil
(c) Whether there has been any default in repayment of deposits or payment of interest
thereon during the year and if so, number of such cases and the amount involved-i. At the
beginning of the year; - Nil ii. Maximum during the year; - Nil iii. At the end of the
year; - Nil (d) The details of deposits which are not in compliance with the requirements
of Chapter. Nil
30. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS:
During the year under review there hasbeennosuchsignificantand material orders passed
by the regulators or courts or tribunals impacting the going concern status and company's
operations in future.
31. 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 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.
All Directors and the designated employees have confirmed compliance with the Code.
32. CORPORATE SOCIAL RESPONSIBILITY:
During this financial year the provisions of Section 135 of the Companies Act, 2013,
relating to
Corporate Social Responsibility (CSR), were not applicable to our company. As the
company did not meet the prescribed thresholds of net worth, turnover, or net profit as
specified under the Act. Consequently, there was no requirement to incur any CSR
expenditure during the year.
33. EMPLOYEE REMUNERATION:
During the period under review, the details of employees in receipt of remuneration
pursuant to section 197 read with Rule 5 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, are not applicable to the Company as no employee has
drawn any remuneration above the limits specified therein.
34. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013:
The Company is committed to provide a safe and conducive work environment to its
employees. During the year under review.
Your directors further state that during the year under review, there were no cases
filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act,
2013.
35. GENERAL:
Your Directors state that no disclosure or reporting is required in respect of the
following items as there were no transactions on these items during the year under review:
I. Issue of equity shares with differential rights as to dividend, voting or otherwise.
II. There is no change in the nature of the business of the company.
III. Issue of shares (including sweat equity shares) to employees of the Company under
any scheme.
IV. Neither the Managing Director nor the Whole -time Directors of the Company receive
any remuneration or commission from any of its subsidiaries.
36. GREEN INITIATIVE:
Electronic copies of the Annual Report 2024-25 and the Notice of the AGM are sent to
all members whose email addresses are registered with the Company / Depositary
Participant(s).
37. THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016 (31 OF 2016):
During the period under review there are no such application made or no such proceeding
pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016).
38. ACKNOWLEDGEMENT:
Your Directors take this opportunity to express their grateful appreciation for the
excellent assistance and co-operation received from all our Clients, Financial
Institutions, Bankers, Business Associates and the Government and other regulatory
authorities and thanks all stakeholders for their valuable sustained support and
encouragement towards the conduct of the proficient operation of the Company. Your
Directors would like to place on record their gratitude to all the employees who have
continued their support during the year.
|
FOR CARGOSOL LOGISTICS LIMITED |
|
|
Sd/- |
Sd/- |
|
Roshan Rohira |
Samuel Muliyil |
| Date : 20th August, 2025 |
Managing Director |
Director |
| Place : Mumbai |
DIN: 01608551 |
DIN: 01608626 |
|