To,
The Members
Nirbhay Colours India Limited
(Formerly Known As “Parth Industries Limited”)
The Directors? present their 33rd Report on the
business and operations of your Company for the year 2024-25.
1) FINANCIAL RESULTS AND OPERATIONAL REVIEW:
| Particulars |
Year Ended |
|
31.03.2025 |
31.03.2024 |
| Gross Income |
276.09 |
176.62 |
| Less Depreciation |
3.08 |
0.02 |
| Profit/(Loss) before Tax |
8.19 |
164.44 |
| Taxes/Deferred Taxes |
0.87 |
42.64 |
| Profit/(Loss) After Taxes |
7.32 |
121.80 |
| P& L Balance b/f |
11 |
(110.843) |
| Profit/ (Loss) carried to Balance Sheet |
14.93 |
11.00 |
2) BRIEF DESCRIPTION OF THE COMPANY?S WORKING DURING THE
YEAR/STATE OF COMPANY?S AFFAIR:
During the year under review, the Company has generated profit of
Rs.7.32 lacs as compared to profit of Rs.121.80 lacs of previous year. The directors of
the Company assure you to efforts are being made to improve the performance of the
Company.
3) CHANGE IN THE NATURE OF BUSINESS:
During the reporting period there was no change in the nature of
business activities, since Company has in same chemical segment.
4) DIVIDEND:
The Board of Director of the company has recommended final dividend of
0.5% Rs.0.05 per equity share of Rs.10/- each face value for the financial year 2024-25,
subject to the approval of shareholders in the ensuing 33rd Annual General
Meeting.
5) TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION
FUND:
The company does not have any amount which required to be transferred
to the Investor Education and Protection Fund (IEPF).
6) TRANSFER TO RESERVES:
The Board of Directors of the company has carried Profit of Rs.7.32/-
lacs to Reserve & surplus.
7) CHANGES IN SHARE CAPITAL:
The paid-up Equity Share Capital of the Company as on March 31, 2025 is
Rs. 3,35,00,000/-
A) Issue of equity shares with differential rights:
During the year under review, the Company has not issued any shares
with differential voting rights.
B) Issue of sweat equity shares
During the year under review, the Company has not issued any sweat
equity shares.
C) Issue of employee stock options
During the year under review, the Company has not issued any sweat
equity shares.
D) Provision of money by company for purchase of its own shares by
employees or by trustees for the benefit of employees
The Company has no scheme of provision of money for purchase of its own
shares by employees or by trustees for the benefit of employees. Hence the details under
rule 16 (4) of Companies (Share Capital and Debentures) Rules, 2014 are not required to be
disclosed.
8) FINANCE:
The Company has not borrowed loan from any Bank or Financial
institution during the year under review.
9) DETAILS PERTAINING TO SHARES IN SUSPENSE ACCOUNT:
The Company does not have any shares in the demat suspense account or
unclaimed suspense account. Hence, Disclosures with respect to demat suspense account/
unclaimed suspense account are not required to mention here.
10) REPORT ON PERFORMANCE AND FINANCIAL POSITION OF SUBSIDIARIES,
ASSOCIATES
AND JOINT VENTURE COMPANIES:
The Company does not have Subsidiaries, Associate and Joint Venture
Companies. Hence, details for the same are not required to mention here.
11) DIRECTORS AND KEY MANAGERIAL PERSONNEL APPOINTED AND RESIGNED
DURING
THE YEAR:
Mr. Raghvendra Kulkarni (06970323), Director retires by rotation at the
forthcoming Annual General Meeting and being eligible, offer himself for reappointment.
a) Key Managerial Personnel:
The following are the Key Managerial Personnel of the Company.
| Mr. Raghvendra Kulkarni |
Managing Director & CFO |
| Mrs. Hiral Baldaniya |
Company officer* |
Secretary & Compliance |
| Mr. Maheshkumar Amritlal Patel |
Company officer# |
Secretary & Compliance |
*Resigned on 24th April, 2025 #Appointed on 21st
January, 2025
b) Director:
| Ms. Sonal Gandhi |
Non-Executive Independent Director |
| Mr. Divyakantbhai Gandhi |
Non-Executive Independent Director |
| Mr. Vipulbhai Jana |
Non-Executive Independent Director |
During the year the Company has accepted resignation of Mrs. Hiral
Baldaniya from the post of Company Secretary of the Company w.e.f. 24 th April,
2025 and appointed Mr. Maheshkumar Amritlal Patel as Company Secretary of the Company
w.e.f. 21st January, 2025, there were no other changes has been occurred during
the year under review.
12) NUMBER OF MEETINGS OF BOARD OF DIRECTORS:
The meetings of the Board of Directors are held at periodical intervals
and are generally at the registered office of the Company, Ahmedabad. The meeting dates
are decided well in advance and the agenda and notes on agenda are circulated in advance
to the directors. All material information is incorporated in the notes on agenda for
facilitating meaningful and focused discussion at the meeting. Where it is not perusable
to attach supporting or relevant documents to the agendas, the same is tabled before the
meeting. In case of business exigencies or urgency of matters, resolutions are passed by
circulation. Senior Management persons are often invited to attend the Board Meetings and
provide clarifications as and when required.
During the year 2024-25, 07 (Seven) Board Meetings were convened and
duly held on:
| 27/05/2024 |
12/08/2024 |
05/09/2024 |
| 13/11/2024 |
21/01/2025 |
11/02/2025 |
| 29/03/2025 |
|
|
The Board of Directors of the Company were present at the following
Board Meeting held during the year under review:
| Name of Director |
Board Meeting Held |
Meetings attended |
Attendance at last AGM |
| Mr. Raghvendra Kulkarni |
7 |
7 |
Yes |
| Ms. Sonal Gandhi |
7 |
7 |
Yes |
| Mr. Divyakant Gandhi |
7 |
7 |
Yes |
| Mr. Vipulbhai Jana |
7 |
7 |
Yes |
Independent Director Meeting:
A separate Meeting of Independent Directors of the company was held on
26/03/2025.
13) PROFILE OF DIRECTORS SEEKING APPOINTMENT/RE-APPOINTMENT
As required under Regulation 36(3) of the SEBI (LODR) Regulations,
2015, particulars of Directors seeking appointment/ re-appointment at the ensuing Annual
General Meeting are annexed to this notice convening Thirty-One Annual General Meeting.
14) DECLARATION BY INDEPENDENT DIRECTORS
All Independent Directors have given declarations that they meet the
criteria of Independence as laid down under Section 149 (6) of the Companies Act, 2013 and
Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015. The terms and conditions of the Independent Directors are incorporated on the
website of the Company www.nirbhaycolours.com
15) STATEMENT INDICATING THE MANNER IN WHICH FORMAL ANNUAL EVALUATION
HAS BEEN MADE BY THE BOARD OF ITS OWN PERFORMANCE AND THAT OF ITS
COMMITTEES AND INDIVIDUAL DIRECTORS:
Pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing
Obligations and Disclosure Requirement), Regulations, 2015, the Board has carried out an
annual performance evaluation of its own performance, the directors individually as well
as the evaluation of the working of its Audit, Nomination and Remuneration Committees.
During the year, the Board adopted a formal mechanism for evaluating
its performance and as well as that of its committees and individual Directors, including
the Chairman of the Board. The exercise was carried out through a structured evaluation
process covering various aspects of the Boards functioning such as composition of the
Board & committees, experience & competencies, performance of specific duties
& obligations, governance issues etc. Separate exercise was carried out to evaluate
the performance of individual Directors including the Board Chairman who were evaluated on
parameters such as attendance, contribution at the meetings and otherwise, independent
judgment, safeguarding of minority shareholders interest etc.
The evaluation of the Independent Directors was carried out by the
entire Board and that of the Chairman and the Non-Independent Directors were carried out
by the Independent Directors. The Directors were satisfied with the evaluation results,
which reflected the overall engagement of the Board and its Committees with the Company.
16) PARTICULARS OF EMPLOYEES & EMPLOYEE REMUNERATION:
The table containing the names and other particulars of employees in
accordance with the provisions of Section 197(12) of the Companies Act, 2013, read with
Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014, is provided as “Annexure- A” to the Board?s report.
None of the employees of the Company drew remuneration of
Rs.1,02,00,000/- or more per annum and Rs.8,50,000/- or more per month during the year. No
employee was in receipt of remuneration during the year or part thereof which, in the
aggregate, at a rate which is in excess of the remuneration drawn by the managing director
or whole-time director or manager and holds by himself or along with his spouse and
dependent children, not less than two percent of the equity shares of the company. Hence,
no information is required to be furnished as required under Rule, 5(2) and 5(3) of The
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
17) CHANGE OF NAME:
During the year under review, the company has not changed its name.
18) STATUTORY AUDITORS:
In the Annual General meeting held in the year 2020, Company has
appointed M/s A L Thakkar & Co (FRN: 120116W), Chartered Accountants, Ahmedabad as
statutory Auditor of the Company to fill casual vacancy caused due to resignation of M/s
H. A. Jain & Associates (FRN: 145473W), Chartered Accountants, from the conclusion of
the AGM held in the year 2020 until the conclusion of the Annual General Meeting which
will be held in the year 2025.
The Board of Directors, based on the recommendation of the Audit
Committee, has proposed the reappointment of M/s. A L Thakkar & Co., Chartered
Accountants (FRN: 120116W), as Statutory Auditors of the Company for a second term of five
consecutive years, from the conclusion of the 33rd Annual General Meeting till
the conclusion of the 38th Annual General Meeting to be held in the year 2030.
19) COST AUDITORS:
The Cost audit of the Company has not been conducted for the financial
year 2024-25 as provisions of Section 148 of the Companies Act, 2013 are not applicable on
the Company.
20) SECRETARIAL AUDITORS AND SECRETARIAL AUDIT REPORT:
Further, the Board of Directors in its board meeting held on 29 th
March, 2025 has appointed Mrs. Rupal Patel, Practicing Company Secretary, Ahmedabad as
Secretarial Auditors of the Company for period of five years commencing from financial
year 2025-26. Further, the Company has received consent letter regarding such appointment
in accordance with the applicable provisions of the Act and Rules framed thereunder.
Pursuant to the provisions of Section 204 of the Companies Act, 2013
and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the
Company has appointed CS Rupal Patel, PCS, Ahmedabad, to undertake the Secretarial Audit
of the Company. The Secretarial Audit Report is annexed herewith as “Annexure
-B”.
Reply to the qualification Remarks in Secretarial Audit Report:
Although Company has not published notice of meeting of the board of
directors where financial results shall be discussed and declared, the same has been
uploaded on the website of the company.
21) RESPONSE TO AUDITOR?S REMARKS:
There were no qualifications, reservations or adverse remarks made by
Auditors in their respective reports.
22) AUDIT COMMITTEE:
The Audit Committee of the Board of Directors of the Company comprises
3 (three) Members. as well as those in section 177 of the Companies Act, 2013 and include
the reviewing of quarterly, half-yearly and annual financial statements before submission
to the Board, ensure compliance of internal control systems and internal audit, timely
payment of statutory dues and other matters.
During the year under review, 4 meetings of the committee were held
27/05/2024, 12/08/2024, 13/11/2024 and 11/02/2025. The composition of committee and
attendance at its meetings is given below:
| Sr. No. Name |
Position |
Category |
Number of meeting Attend |
| 1 Ms. Sonal Gandhi |
Chairman |
Non-Executive - Independent Director |
4 |
| 2 Mr. Vipul Jana |
Member |
Non-Executive - Independent Director |
4 |
| 3 Mr. Divyakant Gandhi |
Member |
Non-Executive- Independent Director |
4 |
The Board accepted the recommendations of the Audit Committee whenever
made by the Committee during the year.
23) VIGIL MECHANISM:
The Company has a vigil mechanism named Whistle Blower Policy to deal
with instances of fraud and mismanagement, if any. The company has adopted a Whistle
Blower Policy, which affords protection and confidentially to Whistle blowers. The Audit
Committee Chairman is authorized to receive Protected Disclosures under this Policy. The
Audit Committee is also authorized to supervise the conduct of investigations of any
disclosures made whistle blowers in accordance with policy.
No personnel have been denied access to the Audit Committee. As of
March 31, 2025, no Protected Disclosures have been received under this policy.
24) NOMINATION AND REMUNERATION COMMITTEE:
The Board of Directors of the company have constituted a Nomination
& Remuneration Committee of Directors mainly for the purposes of recommending the
Company?s policy on Remuneration Package for the Managing/Executive Directors,
reviewing the structure, design and implementation of remuneration policy in respect of
key management personnel.
The Nomination & Remuneration Committee consisted of 3 members.
During the year under review, 01 (one) meetings of the committee were held on 21/01/2025.
The name of members, Chairman and their attendance at the Remuneration Committee Meeting
are as under Committee of Board:
| Sr. No. Name |
Position |
Category |
Number of meeting Attend |
| 1 Ms. Sonal Gandhi |
Chairman |
Non-Executive - Independent Director |
1 |
| 2 Mr. Vipul Jana |
Member |
Non-Executive - Independent Director |
1 |
| 3 Mr. Divyakant Gandhi |
Member |
Non-Executive- Independent Director |
1 |
25) STAKEHOLDERS RELATIONSHIP COMMITTEE:
The Stakeholders Relationship Committee consisted of 3 members. During
the year under review, 4 meetings of the committee were held 19/04/2024, 16/07/2024,
17/10/2024 and 23/01/2025. The name of members, Chairman and their attendance at the
Stakeholders Relationship Committee are as under Committee of Board:
| Sr. No. Name |
Position |
Category |
Number of meeting Attend |
| 1 Ms. Sonal Gandhi |
Chairman |
Non-Executive - Independent Director |
4 |
| 2 Mr. Vipul Jana |
Member |
Non-Executive - Independent Director |
4 |
| 3 Mr. Divyakant Gandhi |
Member |
Non-Executive- Independent Director |
4 |
The status of shareholders? complaints received so far/number n ot
solved to the satisfaction of shareholders/number of pending share transfer transactions
(as on March 31, 2025 is given below): -
| Complaints Status: 01.04.2024 to 31.03.2025 |
|
| Number of complaints received so far |
0 |
| Number of complaints solved |
0 |
| Number of pending complaints |
0 |
Compliance Officer:
Mr. Maheshkumar Amritlal Patel, is Compliance Officer of the company
for the purpose of complying with various provisions of Securities and Exchange Board of
India (SEBI), Listing Agreement with Stock Exchanges, Registrar of Companies and for
monitoring the share transfer process etc.
a) Share Transfer System:
All the transfers are received and processed by share Transfer agents
and are approved by share transfer committee. Share Transfer requests received in physical
form are registered within 30 days and demat requests are confirmed within 15 days.
b) Dematerialization of shares and liquidity:
Details of Registrar and Share Transfer agent of the Company for
dematerialization of shares:
| Name |
: MCS |
| Address |
: 2 0 1 , Shatdal |
|
Ashram Road, Ahmedabad-380009 |
| Tel |
: 0 7 9 -26582878 |
| Fax |
: 079-25681296 |
| Email |
: mcsstaahmd@gmail.com |
26) STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK
MANAGEMENT POLICY OF THE COMPANY:
Risk management is embedded in your company?s operating framework.
Your company believes that managing risk helps in maximizing returns. The company?s
approach to addressing business risk is comprehensive and includes periodic review of such
risks and a framework for mitigating controls and reporting mechanism of such risks. The
risk management framework is reviewed periodically by the Board and the Audit Committee.
Some of the risks that the company is exposed to are:
Commodity Price Risks
The Company is exposed to the risk of price fluctuation of raw material
as well as finished goods. The company proactively manages these risks through forward
booking, Inventory management and proactive vendor development practices. The
Company?s reputation for quality, product differentiation and service, coupled with
existence of powerful brand image with robust marketing network mitigation the impact the
impact of price risk on finished goods.
Regulatory Risks
The company is exposed to risks attached to various statues and
regulations including the company Act. The company is mitigating these risks through
regular review of legal compliances carried out through internal as well as external
compliance audits.
Human Resources Risks
Retaining the existing talent pool and attracting new talent are major
risks. The company has initialed various measures including rolling out strategic talent
management system, training and integration of learning and development activities.
Strategic Risks
Emerging businesses, capital expenditure for capacity expansion, etc.,
are normal strategic risk faced by the company. However, the company has well-defined
processes and procedures for obtaining approvals for investments in new business and
capacity expansion etc.
27) EXTRACT OF ANNUAL RETURN:
Pursuant to Sub-section 3(a) of Section 134 and Sub-section (3) of
Section 92 of the Companies Act, 2013 read with Rule 12 of Companies (Management and
Administration) Rules, 2014, the copy of the draft Annual Return of the Company for the
Financial Year ended on 31 st March, 2025 in FormMGT-7 is uploaded on website
of the Company and can be accessed at www.nirbhaycolours.com
28) 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 W HICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF
THE REPORT:
There are no any 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.
29) DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS
OR
COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND
COMPANY?S OPERATIONS IN FUTURE:
There is no significant and material order passed by the regulators or
courts or tribunals impacting the going concern status and company?s operations in
future during the year under review.
30) PROCEEDINGS UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016:
During the year under review, there were no proceedings that were filed
by the Company or against the Company, which are pending under the Insolvency and
Bankruptcy Code, 2016 as amended, before National Company Law Tribunal or other Courts.
31) DETAILS OF ONE TIME SETTLEMENT AND VALUATION THEREOF
During the year under review, there were no instances of onetime
settlement with any Banks or Financial Institutions and hence no 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.
32) DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH
REFERENCE TO THE FINANCIAL STATEMENTS:
The Company has adequate and proper internal financial controls with
reference to the Financial Statements during the year under review.
33) DEPOSITS:
Your Company has not accepted / renewed any deposits from the
public/share holders during the year under review.
34) PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:
The Company has not made interest free Loans to other body Corporate
within the limits prescribed under section 186 of the Companies Act, 2013. The Company has
not made other Guarantees and Investments covered under the provisions of Section 186 of
the Companies Act, 2013 during the review of the company.
35) PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
All transactions entered into by the Company with its related parties
during the year were in ordinary course of business and on arm?s length basis and in
compliance of the provisions of Section 177 read with Section 188 of the Act as mentioned
in Note no. 39 of the Audited Financial Statement for the period ended on March 31, 2025.
During the financial year 2024-25, the Company had not entered into any
arrangement/transaction with related parties which could be considered material as
stipulated under the provisions Section 188(1) of the Act read with relevant rules made
thereunder and accordingly, no information is required to be given in the prescribed form
AOC-2.
Further, the details of the related party transactions as per IND-AS 24
are set out in Notes to the Standalone Financial Statements of the Company.
36) CORPORATE GOVERNANCE:
As per SEBI circular no: CFD/POLICYCELL/7/2014 dated 15th
September, 2014, (Regulation 27(2) of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 shall not be mandatory to the following class of
companies:
Companies having paid up equity share capital not exceeding Rs.10 crore
and Net Worth not exceeding Rs.25 crore, as on the last day of the previous financial
year;
Provided that where the provisions of (Regulation 27(2) of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 becomes applicable to
a company at a later date, such company shall comply with the requirements o f (Regulation
2 7(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 within
six months from the date on which the provisions became applicable to the company.
Accordingly, it may be noted that the paid-up share capital of the
Company is below Rs. 10 crore and Net Worth of the Company has not exceeded Rs.25 crore,
as on 31 st March, 2025 and hence Corporate Governance is not applicable to the
Company.
37) MANAGEMENT DISCUSSION AND ANALYSIS:
The Management Discussion and Analysis forms part of this Annual Report
for the year ended 31st March, 2025 and annexed as “Annexure-C”.
38) DETAIL OF FRAUD AS PER AUDITORS REPORT:
There is no fraud in the Company during the Financial Year ended 31 st
March, 2025. This is also being supported by the report of the auditors of the Company as
no fraud has been reported in their audit report for the financial year ended 31st
March, 2025.
39) OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT
WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:
The Company has zero tolerance for sexual harassment at workplace and
has adopted a policy against sexual harassment in line with the provisions of Sexual
Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the
rules framed there under.
During the financial year 2024-25, the company has not received any
complaints on sexual harassment and hence no complaints remain pending as of 31st
March, 2025.
40) MATERNITY BENEFIT PROVIDED BY THE COMPANY UNDER MATERNITY BENEFIT
ACT
1961:
The Company declares that it has duly complied with the provisions of
the Maternity Benefit Act, 1961. All eligible women employees have been extended the
statutory benefits prescribed under the Act, including paid maternity leave, continuity of
salary and service during the leave period, and post-maternity support such as nursing
breaks and flexible return-to-work options, as applicable. The Company remains committed
to fostering an inclusive and supportive work environment that upholds the rights and
welfare of its women employees in accordance with applicable laws.
41) CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
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, During the year under
review it is NIL.
42) SECRETARIAL STANDARDS:
The Directors State that applicable Secretarial Standards i.e. SS-1 and
SS-2 relating to ‘Meetings of the Board of Directors? and General
Meetings?, respectively, have been duly followed by the Company.
43) CORPORATE SOCIAL RESPONSILIBILTY (CSR):
The Provision of Section 135 of the Company Act, 2013 are not
applicable since the company does not fall under Category of Rule 9 of the Corporate
Responsibility Rules 2014.
44) DIRECTORS? RESPONSIBILITY STATEMENT:
The Directors? Responsibility Statement referred to in clause (c)
of sub-section (3) of Section 134 of the Companies Act, 2013, shall state that
a) In the preparation of the annual accounts, 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 at the end of the
financial year and of the profit and loss 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 this Act
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; and e) The directors, had 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.
45) SECRETARIAL STANDARDS:
The Directors State that applicable Secretarial Standards i.e. SS-1 and
SS-2 relating to ‘Meetings of the Board of Directors? and General
Meetings?, respectively, have been duly followed by the Company.
46) LISTING WITH STOCK EXCHANGES:
The Company confirms that it has paid the Annual Listing Fees for the
year 2024-25 to BSE where the Company?s Shares are listed.
47) WEBSITE OF YOUR COMPANY
Your Company maintains a website www.nirbhaycolours.com where detailed
information of the Company and specified details in terms of the Companies Act, 2013 and
SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 has been
provided.
48) PREVENTION OF INSIDER TRADING:
In January 2015, SEBI notified the SEBI (Prohibition of Insider
Trading) Regulation, 2015 which came into effect from May, 2015. Pursuant thereto, the
Company has formulated and adopted a new code for Prevention of Insider Trading.
The New Code viz. “Code of Internal Procedures and Conduct for
regulating, Monitoring and reporting of Trading by Insiders” and “Code of
Practices and Procedures for fair Disclosure of Unpublished price Sensitive
Information” has been framed and adopted. The Code requires pre-clearance for dealing
in the Company?s shares and prohibits purchase or sale of Company shares by the
Directors and 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 Company is Responsible for implementation of the Code.
49) ACKNOWLEDGEMENTS:
Your directors thank the various Central and State Government
Departments, Organizations and Agencies for the continued help and co-operation extended
by them. The Directors also gratefully acknowledge all stakeholders of the Company viz.
customers, members, dealers, vendors, banks and other business partners for the excellent
support received from them during the year. The Directors place on record their sincere
appreciation to all employees of the Company for their unstinted commitment and continued
contribution to the Company.
|