Dear Members,
Your directors have pleasure in presenting their 33rd Annual
Report on the affairs of the company together with the Audited Statement of Accounts for
the year ended 31st March, 2023.
FINANCIAL SUMMARY
The Company?s financial performances for the financial year under
review along with previous financial year?s figures are given hereunder:
(Rs. In Lakhs)
| Particulars |
STANDALONE |
CONSOLIDATED |
|
31/03/2023 |
31/03/2022 |
31/03/2023 |
31/03/2022 |
| Total Income |
69885.00 |
58803.50 |
69885.00 |
58803.50 |
| Total Expenses |
61606.13 |
58773.11 |
61599.28 |
58774.23 |
| Profit before Exceptional Items & Tax |
8278.87 |
30.39 |
8285.72 |
29.27 |
| Less: Exceptional Items |
0.00 |
331.04 |
0 |
300.00 |
| Less: Current Tax MAT Credit |
718.14 |
0.00 |
718.14 |
0.00 |
|
0.00 |
102.47 |
0.00 |
102.47 |
| Reversed Deferred Tax |
1481.08 |
(109.31) |
1481.08 |
(109.31) |
| Profit/Loss after Tax before minority interest and share in
profit of associate |
6079.65 |
(293.81) |
6086.50 |
(263.89) |
| Add: share of loss transferred to minority interest |
0.00 |
0.00 |
0.00 |
0.00 |
| Add: Other Comprehensive Income |
12.82 |
13.99 |
12.82 |
13.99 |
| Balance carried to Balance Sheet |
6092.47 |
(279.82) |
6099.32 |
(249.90) |
| E.P.S. |
59.58 |
(2.88) |
59.65 |
(2.59) |
DIVIDENDAND TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND
The board has not declared any dividend for any of the previous years
and the same has not been declared this year as well.
Further the clause regarding transfer of unclaimed dividend to IEPF
account is not applicable on the company as company never declared dividend in the past
years.
AMOUNTS TRANSFERRED TO RESERVES
No amount has been transferred to reserves during the year under
review.
CAPITAL STRUCTURE
The Authorised share capital of the Company as at 31st
March, 2023 was Rs. 1,00,00,00,000/- (Rupees Hundred Crores only) comprising of
1,05,00,000 Equity Shares of Rs.10/-eachaggregating to Rs. 10,50,00,000/-(Rupees Ten
Crores Fifty Lakh Only) and 8,950,000 (Eighty Nine Lakhs Fifty Thousand only) Preference
shares of Rs. 100/- each aggregating to Rs. 89,50,00,000(Rupees Eighty Nine Cores Fifty
Lakhs only).
The issued, subscribed and paid-up share capital of the Company as at
31st March, 2023 was 98,91,82,400/-(Rupees Ninety-Eight Cores Ninety-One Lakhs
Eighty-Two Thousand and Four Hundred only) comprising of 1,02,04,040 equity shares of Rs.
10/- each aggregating to Rs. 10,20,40,400/- (Rupees Ten Cores Twenty Lakh Forty Thousand
and Four Hundred Only) and 8,871,420 (Eighty-Eight Lakhs Seventy-One Thousand Four Hundred
and Twenty only) 0.01% NonConvertible Non-Cumulative Redeemable Preference Shares of Rs.
100/- each aggregating to Rs. 88,71,42,000 (Rupees Eighty-Eight Crores Seventy One Lakhs
Forty Two Hundred only).
Further, during the year under review the Company has not issued any
kind of security including Sweat Equity shares, Employees stock option scheme, Bonus issue
or Right Issue.
During the year, Board of Directors via board resolution decided that
due to negative impact of covid -19 on cash inflows of the company, the dates of
redemption of non-convertible preference share capital will be differed from 31.03.2024
and 31.05.2025 to 31.03.2029 and 31.03.30 respectively
STATE OF COMPANY?S AFFAIRS AND FUTURE OUTLOOK
Your Company is engaged in the business of manufacturing, producing,
marketing, exporting and dealing in all kinds and varieties of paper, Board, Kraft Paper,
Semi Kraft and other paper products.
During the said reporting financial year, the Company has earned a
Profit of Rs. 6,092.47 (Figure in lakhs) as against loss of recorded Rs. 279.82 (Figure in
Lakhs) in the previous year.
During the year under review, your Company has achieved a Total Revenue
of Rs 69,885 (Figure in lakhs) as against Rs 58,803.50 (Figure in lakhs) recorded in the
previous year.
The revenue from operations of the Company on consolidated basis
increase Rs. 58,803.50 (Figure in lakhs ) to Rs 69,885.00 (Figure in lakhs ) as compared
to previous financial year and the consolidated net profit after tax for F.Y. 2022-23
stood at Rs. 6099.32 (Figure in lakhs) as compared loss of Rs. 249.90 (Figure in lakhs)
for FY 2021-22.
Your Company is focusing on repositioning of product lines, improving
internal efficiencies and making investments in expansion and building production
capacities and to further penetrate in the global market. Your Company expects high
revenue in the coming years.
CHANGE IN NATURE OF BUSINESS
There has not been any change in the nature of business of the Company.
DEPOSITS
During the year under review, your Company has not accepted any deposit
within the meaning of Sections 73 and 74 of the Companies Act, 2013 read with the
Companies (Acceptance of Deposits) Rules, 2014 (including any statutory modification(s) or
re-enactment(s) for the time being in force).
INTERNAL FINANCIAL CONTROLS
Company is well equipped with adequate internal financial controls. The
Company has a continuous monitoring mechanism which enables the organization to maintain
the standard of control systems and helps them in managing any default on timely basis
because of strong reporting mechanisms followed by the company.
AUDITORS? REPORT
Auditors report for the year is self-explanatory and require no further
clarification.
STATUTORY AUDITORS
The Auditors, M/s Dhana & Associates (Formally known as Khandelia
& Sharma), Chartered Accountants, (FRN:- 510525C), was appointed in the 28th
Annual General Meeting of the Company held in the year 2018 to hold office from the
conclusion of that Annual General Meeting till the conclusion of 33rd Annual
General Meeting to be held in the year 2023.
However, on the recommendations of Audit Committee M/s Dhana &
Associates, Chartered Accountants, (FRN:- 510525C) Board of Directors Re-appointed M/s
Dhana & Associates, Chartered Accountants (FRN:- 510525C) for their second term in the
33rd Annual General Meeting (AGM) as Statutory Auditors of the Company to hold
office from the conclusion of the 33rd AGM until the Conclusion of 38th
AGM of the Company.
DISCLOSURE ABOUT COST AUDIT
Pursuant to the provisions of Section 148 of the Companies Act, 2013
read with Companies (Audit and Auditors) Rules, 2014 the Company has appointed M/s.
Khushwinder Kumar & Co, Cost Accountants, as the Cost auditor to conduct the Cost
Audit of the Company for the Financial Year 2022-23.
DISCLOSURE ABOUT INTERNAL AUDIT
Pursuant to the provisions of Section 138 of the Companies Act, 2013
read with Companies (Accounts) Rules,2014 the Board of Directors of the Company had
appointed M/s Maheshwari & Sharad, Chartered Accountants (Firm Registration No.
015513N) as Internal Auditor to conduct Internal Audit of the Company for the Financial
Year ended 31st March, 2023.
DISCLOSURE ABOUT SECRETARIAL AUDIT
In terms of Section 204 of The Companies Act, 2013 read applicable Rule
of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the
Secretarial Audit is applicable to the Company for the year under review.
Your Company has availed the services of M/s Rahul Chaudhary &
Associates (Membership No - 54713), Company Secretaries in practice to conduct the
Secretarial Audit of the Company for the Financial Year ended March 31st 2023.
The Secretarial Audit Report for the Financial Year ended 31st
March, 2023 is given in form MR-3 as required under the companies Act, 2013, rules made
there under and also amended regulation 24A of SEBI (Listing Obligations and Discloser
requirements) Regulations, 2015 is annexed herewith and marked as "Annexure -
I".
Secretarial Auditors report for the year is self-explanatory and
following are pointwise clarification by the Board on the observation given in Secretarial
Audit Report.
| SNO. |
Observation in Secretarial Audit Report
(MR-3) |
Response Given by Management |
| 1. |
As per Regulation 24 (1) of SEBI (LODR) Regulation 2015-
which mandates that at least one independent director on the Board of Directors of listed
entity shall be a director on the Board of Directors of an unlisted material subsidiary,
incorporated in India. However, the Company had not appointed the same |
The Subsidiary company did not appoint the Independent
directors of our company as required under the Regulation 24 of SEBI (LODR) Regulation |
| 2. |
The company is Non Compliant of Regulation 24A of SEBI LODR
2015 as Secretarial Audit of Material Non-Listed Indian Subsidiary Company has not been
conducted. |
The Subsidiary company did not provide their secretarial
audit report to us as required under the Regulation 24A of SEBI (LODR) Regulation 2015 |
| 3. |
As per Regulation 34 of SEBI (LODR) Regulation 2015. The
listed entity shall submit to the stock exchange and publish on its website-a copy of the
annual report sent to the shareholders along with the notice of the |
Due to some unavoidable circumstances, which were not in our
control the annual report of the financial year 2020- 21 were submitted |
|
annual general meeting not later than the day of commencement
of dispatch to its shareholders. However, The Company has made 8 day delay of submission
of Annual Report to stock exchange and company paid penalty of Rs. 16000 plus GST to the
Stock exchange |
delayed to the stock exchange. However, the management is
diligently ensuring that the annual report is filed on or before the designated deadline
each year |
| 4. |
The listed Entity is non-compliant as per Regulation 33 of
SEBI LODR 2015 due to delay in filing of financial result on Stock exchange. |
There was delay in filing the financial results for the
period ending on March 31, 2022 as our data server system was crashed and we were unable
to recover date before the due date for filing of aforesaid results and all the penalties
associated with this delay have been paid. |
MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION
OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL
STATEMENTS RELATE AND THE DATE OF THE REPORT
There was no material change or commitment occurred between the end of
Financial Year and the date of the report which could affect the financial position of the
company.
DETAILS OF SUBSIDIARY, JOINT VENTURE OR ASSOCIATE COMPANY(S)
As on 31st March 2023, the Company has one Subsidiaryas
mentioned herein below:- 1. Manorama Paper Mills Limited(Subsidiary Company)
As per the requirements of Section 129(3) of the Companies Act 2013,
the Company has prepared consolidated financial statements of the Company and its
Subsidiary Company, which forms part of this Annual Report.
Further, a statement containing the salient features of the Subsidiary
Company in the prescribed format AOC-1, is annexed as Annexure II.
Your Company formulated a Policy on Material Subsidiary as required
under Regulation 16 of SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015 and it has been reviewed by the Directors. Company has not complied with the
following requirements as per Regulation 24 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations; 2015 :-
1. Company has not appointed any Independent Director of the Holding
Company in its material Subsidiary Company.
2. The minutes of the meetings of the board of directors of the
unlisted subsidiary shall not be placed at the meeting of the board of directors of the
listed entity.
BOARD EVALUATION
Pursuant to the provisions of Section 134 of the Companies Act, 2013
and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, mandates
that the Boardshall monitor and review the Board evaluation framework. Accordingly, the
performance evaluation process of the Board involves following multiple levels:-
• Board as a whole
• Committees of the Board
• Individual Directors and the Chairpersons (Including Independent
and Non- Independent Directors)
• The Board has devised the following parameters for the
performance evaluation of Directors and Committees:-
• Strategy and performance evaluation
• Governance and Compliance
• Knowledge and Competency
The Board subsequently evaluated its own performance, the working of
its Committees (Audit Committee, Nomination and Remuneration Committee, Corporate Social
Responsibility Committee and Stakeholders Relationship Committee respectively)
In a separate meeting of independent directors, performance of
non-independent directors and the board as a whole was evaluated, taking into account the
views of executive directors and non-executive directors. The same was discussed in the
board meeting that followed the meeting of the independent directors, at which the
performance of the board, its committees, and individual directors was also discussed.
Performance evaluation of independent directors was done by the entire board, excluding
the independent director being evaluated.
NUMBER OF BOARD MEETINGS
During the Financial Year ended 31st March, 2023, Nine (9) meetings of
the Board were held. The complete details of meeting and the attendance of the Directors
are mentioned in Corporate Governance Report.
Committee Meetings:
During FY 2022-23, various committee meetings were conducted by the
Company. For details of these Committee meetings, please refer to the section on Corporate
Governance of this annual report.
PARTICULARS OF LOAN, GUARANTEES AND INVESTMENTS UNDER SECTION 186
During the year under review, your company has not given any loan or
guarantee or made any investment pursuant to provisions of section 186 of the Act.
Further, the Board of directors of the company has approved the Loans,
Investment and Guarantee limits upto of Rs 100 Crore (Rupees One Hundred Crore Only) as
per provisions of section 186 of the companies Act, 2013 which is subject to approval of
Members of the company in ensuing Annual General meeting.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
All transactions entered by the Company with Related Parties were in
the Ordinary Course of Business and at Arm?s Length pricing basis. The Audit
Committee granted omnibus approval forthe transactions (which are repetitive in nature)
and the same was reviewed by the Audit Committee and the Board of Directors.Suitable
disclosures as requiredhave been made in the Notes to the financial statements.
The Form AOC - 2 pursuant to Section 134(3)(h) of the Companies Act,
2013 read with Rule 8(2) of the Companies Accounts) Rules, 2014 is set out as Annexure
III.
The related party transactions Policy has been placed on the website of
your Company https://www.chadhapapers.com/all-policies/ .
FRAUDS REPORTED BY THE AUDITORS
No fraud has been reported in their report for the financial year ended
as on 31st March, 2023 by the Auditors of the Company under Section 143(12) of
the Companies Act, 2013.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
Your Company continuously strives to conserve energy, adopt environment
friendly practices and employ technology for more efficient operations.
The information on conservation of energy, technology absorption and
foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies
Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014, is annexed herewith as
Annexure IVto this Report.
RISK MANAGEMENT
The Company is not mandatorily required to constitute Risk Management
Committee. In today?s economic environment, Risk Management is a very important part
of business. The main aim of risk management is to identify, monitor and take
precautionary measures in respect of the events that may pose risks for the business. The
Company has in place a mechanism to identify, assess, monitor and mitigate various risks
to key business objectives. Major risks i.e., competition, legal changes, change in
Government policies, availability of finance, manpower as identified by the company are
systematically addressed through mitigating actions on a continuing basis.
DECLARATION BY INDEPENDENT DIRECTORS
The Company has received declarations from all the Independent
Directors confirming that they meet the criteria of independence as provided under Section
149(6) of the Companies Act, 2013 ("the Act") and Regulation 16(1)(b) of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015.
DETAILS REGARDING CORPORATE SOCIAL RESPONSIBILITY (CSR).
During the Period under review Provisions regarding Corporate Social
Responsibility as contained under section 135 of the Companies Act 2013 are not applicable
to the Company.
However for the year 2023-24 Corporate Social Responsibility Company
triggered applicability of the Provision of Corporate Social responsibility and CSR
Committee recommend the company to do CSR expenditure as per Corporate Social
Responsibility Policy pursuant to the provisions of Section 135 of the Companies Act, 2013
read with the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021.
The policy is available on the website of the Company at the link
https://www.chadhapapers.com/all-policies/
DETAILS OF DIRECTORS AND KEY MANAGERIAL PERSONNEL.
As per the Provision of the Companies Act, 2013 Mr. Amanbir Singh Sethi
(DIN:01015203), who retires by rotation at the ensuing Annual General Meeting and being
eligible, seeks reappointment. The Nomination and Remuneration Committee recommends his
re-appointment. The brief profile of Mr. Amanbir Singh Sethi (DIN:01015203), and other
related information has been detailed in the notes part of Notice of Annual General
Meeting.
Mr. Amanbir Singh Sethi (DIN:01015203), who was appointed as Whole Time
Director of the Company, to hold office for a term of 3 years commencing from 1st
September, 2020.
In this regard, the tenure of Mr. Amanbir Singh Sethi (DIN: 01015203),
has ended on 31st August, 2023.
Keeping in view his experience and effectiveness in operation of the
Company the Board of the Directors, on the recommendation of the Nomination and
Remuneration Committee, re-appointed Mr. Amanbir Singh Sethi as Whole Time Director of the
Company for Five Year i.e. from 01.09.2023 to 31.08.2028 subject to approval of members of
the company at the ensuing Annual General meeting of the company.
No Director was appointed or resigned during the year under review.
Following are the Directors of Company as on 31st March, 2023.
| S.No |
Name of Directors |
| 1. |
Mr. Amanbir Singh Sethi |
| 2. |
Mr. Sanmeet Singh |
| 3. |
Mr. Anand Sharma |
| 4. |
Mr. Naveen Saxena |
| 5. |
Mrs. Surjeet Kaur |
Mr. Shaan Mohammad, resigned from the post of Company Secretary &
Compliance Officer of the Company from 08th of October, 2022 and Mr. Khan Mohd
Ubed has been appointed as the Company Secretary & Compliance Officer of the Company
w.e.f. 14th November, 2022.
Following are the Key Managerial Personnel of Company as on 31st
March, 2023.
| S.No |
Name |
Designation |
| 1. |
Mr. Amanbir Singh Sethi |
Whole Time Director |
| 2. |
Mr. Ashwani Sharma |
Chief Financial Officer |
| 3. |
Mr. Khan Mohd Ubed |
Company Secretary |
Mr. Ashwani Sharma, resigned from the post of Chief Financial Officer
of the Company from 21st August, 2023 and Mr. Mohit Agarwal has been appointed
as the Chief Financial Officer of the Company w.e.f. 21st August, 2023.
REMUNERATION POLICY
The Policy on selection of Directors including criteria for determining
qualifications, positive attributes and Directors? Independence and the Remuneration
Policy for Directors, Key Managerial Personnel and other employees, as required under
sub-section (3) of Section 178 of the Companies Act, 2013 is maintained by the company.
Accordingly, Board based on the recommendation of the Nomination and Remuneration
Committee has formulated a policy on remuneration of Directors, Key Managerial Personnel
and Senior Management of the Company. The policy covers the appointment, including
criteria for determining qualification, positive attributes, independence and remuneration
of its Directors, Key Managerial Personnel and Senior Management Personnel. The Nomination
and Remuneration Policy of your Company is available on company?s website at the
https://www.chadhapapers.com/all-policies/ .
VIGIL MECHANISM/WHISTLE BLOWER POLICY
The Company has implemented a Whistle Blower Policy pursuant to Section
177(9) of the Companies Act, 2013 read with Rule 7 of the Companies (Meetings of Board and
its Powers) Rules, 2014 and Regulation 22 of the Listing Regulations, the Board of
Directors had approved the Policy on Vigil Mechanism/ Whistle Blower pursuant to which
Whistle Blower can raise concerns relating to reportable manner such as breach of code of
conduct, fraud, corruption, employee misconduct, misappropriation of funds etc. The same
was hosted on the website of the Company. Your Company hereby affirms that no Director/
employee have been denied access to the Chairman of the Audit Committee and that the
complaints received were addressed properly during the year.
The Board had approved Vigil Mechanism/ Whistle Blower Policy. The
policy has been uploaded on the Company?s website i.e.
https://www.chadhapapers.com/all-policies/ .
DETAILS OF SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS
OR COURTS OR TRIBUNAL
There has been no order passed by any authority which impact the going
concern status and company?s operations in future.
DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION & REDRESSAL) ACT, 2013
No complaints were received against the woman harassment at workplace
during the financial year 2022-23.
Further, Company has duly complied with all applicable provisions of
Sexual Harassment of women at Workplace (Prevention, Prohibition & Redressal) Act,
2013.
PARTICULARS OF REMUNERATION
The Statement of particulars of Appointment and Remuneration of
Managerial personnel as required under Section 197(12) of the Companies Act, 2013 read
with Rule 5 of Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014 is enclosed as Annexure V to this Annual Report.
DIRECTORS RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(5) of the Companies
Act, 2013, your directors confirm that:
a) In the preparation of the annual accounts for the financial year
ended 31st March, 2023, the applicable accounting standards had been followed along with
proper explanation relating to material departures;
b) The directors had 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 as at 31st March, 2023
and of the Profit of the Company for that period;
c) The directors had 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;
d) The directors had prepared the annual accounts on a going concern
basis;
e) The directors, has laid down internal financial controls to be
followed by the Company and that such internal financial controls are adequate and were
operating effectively.
f) The directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were adequate and operating
effectively.
CORPORATE GOVERNANCE REPORT
The company is committed to maintain the highest standard of corporate
governance and adhere to the corporate governance requirements set out by SEBI. Report on
Corporate Governance is appended as Annexure VI.
CERTIFICATE ON CORPORATE GOVERNANCE
As required by Listing Obligations and Disclosure Requirements (LODR)
Regulations 2015, certificate on corporate Governance issued by Practicing Company
Secretary i.e. M/s Rahul Chaudhary & Associates (Membership No - 54713), is enclosed
as Annexure VII to the board?s report and the Observation cited in the certificate
are same as given in Secretarial Audit Report (Mr- 3) and Management provide same reply as
given for Secretarial Audit Report (Mr-3) above.
WTD / CFO CERTIFICATION
The Whole Time Director and Chief Financial Officer of the Company have
certified, in terms of Regulation 17(8) of the Listing Regulations, to the Board that the
financial statements present a true and fair view of the Company's affairs and are in
compliance with existing accounting standards, applicable laws and regulations. A
Certificate with respect to above said matter is annexed with this report as Annexure
VIII.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Pursuant to Regulation 34(2) of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, Your Company has laid down a detailed analysis
of the Company?s operational and financial performance as well as the initiatives
taken by the Company in key functional areas such as Human Resources, Quality etc. is
separately discussed in the Management Discussion and Analysis Report, which forms part of
this Annual Report in Annexure IX.
SECRETARIAL STANDARDS
During the year under review, Company has complied all the applicable
provisions of Secretarial Standards issued by the Institute of Company Secretaries of
India.
INDIAN ACCOUNTING STANDARDS
The financial statements for the financial year 2022-23 have been
prepared in accordance with the applicable Indian Accounting Standards (IND-AS).
DECLARATION SIGNED BY THE CHIEF FINANCIAL OFFICER & WHOLE TIME
DIRECTOR STATING THAT THE MEMBERS OF BOARD OF DIRECTORS AND SENIOR MANAGEMENT PERSONNEL
HAVE AFFIRMED COMPLIANCE WITH THE CODE OF CONDUCT OF BOARD OF DIRECTORS AND SENIOR
MANAGEMENT.
As per the requirements of Schedule V of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the declaration is appended as Annexure Viii
to the Board?s Report.
PROCEEDING PENDING UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016.
There is no proceeding pending or no Application made under the
Insolvency and Bankruptcy Code, 2016 during the year under review.
DIFFERENCE IN VALUATION IN CASE OF LOAN TAKEN FROM THE BANK OR
FINANCIAL INSTITUTIONS.
During the period under review, no One Time Settlement took place
between your Company and any Bank or Financial Institution. Hence, the above-mentioned
provision of the act was not applicable on the Company.
ANNUAL RETURN.
Pursuant to Section 92(3) of the Act and Rule 12 of the Companies
(Management and Administration) Rules, 2014, the Annual Return for FY 2022-23 is available
on Company?s website at https://www.chadhapapers.com/anual-return/
ACKNOWLEDGMENT
The Board places on record its appreciation for the valuable support
and co-operation for the Bank, customers, suppliers, client, employees and shareholders
and look forward to their continued support in future.
|
By order of the Board |
|
|
For Chadha Papers Limited |
|
|
Sd- |
Sd- |
|
Amanbir Singh Sethi |
Sanmeet Singh |
| Date:26.08.2023 |
Whole Time Director |
Director |
| Place: Noida (UP) |
DIN-01015203 |
DIN-01139468 |
|
Address: CTC061 The Crest Park |
Address: Malla, |
|
Drive, DLF5, Gurugram, |
Gorakhpur, Haldwani, |
|
Haryana-122011 |
Uttarakhand-263139 |
|