To
The Members
Unitel Info Private Limited
Plot No 166, Ground Floor, Blk-C, Pkt-7,
Sector-7, Rohini Delhi, North West Dl -110085
Your Directors have pleasure in presenting the second Annual Report together with the
Audited Statement of Accounts for the financial year ended on 31 March 2022.
1. Company Overview
Your Company was incorporated on 31 December 2020, having its registered office at Plot
No 166, Ground Floor, Blk-C, Pkt-7, Sector-7, Rohini Delhi North West DI-110085. Your
Company is engaged in the business of trading of accessories of mobile and mobile phones
and gadgets.
2. Financial Highlights
Key financial parameters depicting the performance of the Company for the year ended
31st March 2022 along with the comparative figures for the financial year 2020-21 are
tabulated below:
| Particulars |
Financial Year ended 31 March 2022 (INR) |
Financial Year ended 31 March 2021 (INR) |
| Revenue from operations |
121,28,99,000 |
0 |
| Other Income |
0 |
0 |
| Total |
121,28,99,000 |
0 |
| Total Expenses |
118,28,64,000 |
2,42,000 |
| Profit/ (Loss) before Tax |
3,00,35,000 |
(2,42,000) |
| Tax Expense |
96,88,000 |
NIL |
| Profit/ (Loss) for the period |
2,03,45,000 |
(2,42,000) |
| Earnings per Equity Share (Basic and Diluted) |
203 |
(2) |
During the financial year your Company recorded a profit of INR 2,03,45,000/- (Rupees
Two Crore Three Lakhs Forty Five Thousand Only). Your Directors are continuously looking
for avenues for future growth and are hopeful that the Company will perform better in the
coming years.
3. Dividend
Your Directors have not recommended any dividend for the financial year ended on 31
March 2022.
4. Reserves
There was no appropriation to the general reserve for the FY ended on 31 March 2022.
5. Changes in nature of business
There has been no change in the nature of business during the financial year under
review.
6. Material changes and commitments
There are no material changes and commitments, affecting the financial position of the
company, which have occurred between the end of the financial year of the company and as
on the date of this Report.
7. Significant and material orders passed by the Regulators/Courts/Tribunals
impacting the going concern status and the Company's future operations
During the financial year under review, no significant and material orders have been
passed by the regulators/courts/tribunals impacting the going concern status and the
company's future operations.
8. Composition of the Board
During the financial year under review, there was no change in the composition of the
Board of Directors. Accordingly, the Board of Directors of your Company as at the end of
financial year 31 March 2022 comprise of the following:
| SI. No. Name of the Director |
DIN |
Designation |
| 1. Ravi Agarwal |
08471502 |
Director |
| 2. Nikhil Aggarwal |
09016668 |
Director |
9. Board Meetings
During the financial year, your Board of Directors of the Company met 4 (four) times to
transact various business pertaining to the operations of the Company and complied with
the requirements of holding minimum number of Meetings of the Board.
10. Auditors
J C Chopra & Company, Chartered Accountants (Firm Registration No.: 029973N), were
appointed as statutory auditors of the Company in the First Annual General Meeting for a
term of 5 years i.e. till the conclusion of the Sixth Annual General Meeting subject to
ratification by shareholders at each AGM.
Since, the requirement of ratification of the appointment of Auditors by the
Shareholders has been repealed vide the Companies (Amendment) Act, 2017. Therefore, your
Board has decided not to consider the ratification of the appointment for the Financial
Year 2022-23.
11. Qualification, reservations, or adverse remarks or disclaimers made by the
Auditors
The Auditors Report addressed to the Shareholders of the Company does not contain any
qualification, reservations, adverse remarks or disclaimers.
12. Extract of Annual Return
In accordance with Section 92(3) of the Companies Act, 2013, the extract of Annual
Return has been done away with and is not required to be part of the Board's Report.
13. Web address, if any, where annual return has been placed
Your Company does not have a website of its own and hence the requirement of the said
disclosure is not applicable.
14. Particulars of Loans. Guarantees or Investments made under Section 186 of the
Companies Act, 2013
During the financial year under review, there were no loans granted, guarantees given
or investments made by your Company under Section 186 of the Companies Act, 2013.
15. Particulars of contracts or arrangements made with related parties
Particulars of contracts or arrangements with related parties pursuant to Section 188
of the Companies Act, 2013 read with the Rules thereto in the prescribed Form AOC-2, is
appended as Annexure A to the Board's Report.
16. Deposits
Your Company has not accepted any deposits from the public within the meaning of
Section 73 and Section 76 of the Companies Act, 2013, read with the Companies (Acceptance
of Deposit) Rules, 2014 made there under and, as such, no amount of principal or interest
was outstanding as of the date of the Balance Sheet.
17. Internal Financial Control
The provisions in relation to internal financial controls is not applicable to the
Company.
18. Risk Management
Company's Risk Management philosophy is to integrate the process for managing risk
across the organization and throughout its business and lifecycle to enable protection of
stakeholder value and ensure an institution in perpetuity.
As on date of this report, your Company does not face any operational, economical,
inflationary or other risks which in the opinion of the Board may threaten the existence
of the Company.
19. Names of companies which have become or ceased to be its subsidiaries, joint
ventures or associate companies during the year
During the financial year under review, there was no addition/ cessation of
subsidiaries, joint ventures or associate companies to your Company.
20. Corporate social responsibility
Pursuant to Section 135 of the Companies Act, 2013, the provisions of Corporate Social
Responsibility ("CSR") is not applicable to the Company as the Net Worth of the
Company does not exceed Rupees Five Hundred Crore nor the Turnover of the Company exceeds
Rupees One Thousand Crore and neither the Net Profit of the Company exceeds Rupees Five
Crore during the immediate preceding FY.
21. Conservation of energy, research and development, technology absorption and
foreign exchange earninqs/outqo
1. Conservation of energy
Significant measures are taken to reduce energy consumption by using energy-efficient
computers and equipment's, internal guidelines to control the wastage of the same.
2. Research and development
The Company is not engaged in Research and Development activities.
III. Technology absorption, adoption and innovation
The Company is keeping itself abreast with the latest technology and is working with
the latest technological tools available.
IV. Foreign exchange earnings and outgoings
Foreign Exchange earnings during the year NIL
Foreign Exchange outgoings during the year NIL
22. Company's policy relating to Directors appointment, payment of remuneration and
discharge of duties
The Company, being a Private Limited Company was not required to constitute a
Nomination and Remuneration Committee under Section 178(1) of the Companies Act, 2013 and
Rule 6 of the Companies (Meetings of Board and its Powers) Rules 2014 and Stakeholders
Relationship Committee under section 178(5) of the Companies Act, 2013.
23. Disclosure of remuneration paid and payable to Directors during the year under
review
Information as per Section 197 (5) read with Rule 5 of Chapter XIII, the Companies
(Appointment & Remuneration of Managerial Personnel) Rules, 2014 is not applicable to
the Company.
24. Details in respect of frauds reported by auditors under sub-section (12) of
section 143 other than those which are reportable to the Central Government
During the financial year under review, there was no fraud reported by the Auditors of
the Company.
25. A statement on declaration given by Independent Directors under sub-section (6)
of Section 149 of the Companies Act, 2013
Since there is no Independent Director on the Board of the Company, the requirement of
the said disclosure is not applicable.
26. Directors' responsibility statement
In accordance with the provisions of Section 134(5) of the Companies Act, 2013, the
Board hereby confirms that:
a) the applicable accounting standards have been followed along with proper explanation
relating to material departures;
b) the accounting policies have been applied consistently and judgment's and estimates
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 and loss of the company for
that period;
c) proper and sufficient care has been taken for the maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding the assets of the
Company and for preventing and detecting frauds and other irregularities;
d) the annual accounts are prepared on a going concern basis; and
e) proper systems are devised to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.
27. Number of cases filed against sexual harassment of women at work place and the
number of disposals
There was no complaint lodged by any woman employee under Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013, with the Company during the
period under report.
28. Maintenance of cost records as specified by the Central Government under
sub-section (1) of section 148 of the Companies Act, 2013.
Your Company is not required to maintain cost records as specified by the Central
Government under sub-section (1) of section 148 of the Companies Act, 2013, and
accordingly such accounts and records are not maintained.
29. Compliance with Secretarial Standards
Your Company has complied with all the applicable mandatory secretarial standards
issued by the Institute of Company Secretaries of India.
30. Acknowledgement
Your Directors place on record their sincere appreciation to the customers of your
Company vendors, bankers, business associates, consultants, advisors and various
Government Agencies for their support extended to our activities during the financial year
under review. Your Directors also acknowledge the shareholders for their support and
confidence reposed on their Company. Your Directors also place on record their
appreciation to the dedicated and committed team of employees for their valuable
contribution to your Company during the year under review.
| For and on behalf of the Board of Directors |
|
| Unitel Info Private Limited |
|
| Ravi Agarwal |
Nikhil Aggarwal |
| Director |
Director |
| DIN: 08471502 |
DIN: 09016668 |
| Date: 01 September 2022 |
Date: 01 September |
| Address: C-7/166, Sector-7, Rohini |
Address: H.No-C-7/166 Rohini |
| Delhi India 110085 |
Sector-7 North West Delhi |
|
India 110085 |
|