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Quantum Digital Vision India Ltd			Industry : Packaging


BSE Code:	530281	NSE Symbol:	Not Listed	P/E(TTM):	2.35

ISIN Demat:	INE373C01019	Div & Yield %:	0	EPS(TTM):	9.08

Book Value(Rs):	-36.9914474	Market Cap ( Cr.):	6.48	Face Value(Rs):	10

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To, The Members,

Your Directors have pleasure in presenting their 43rd Annual Report on the business and operations of the Company and the accounts for the Financial Year ended March 31, 2023.

1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY

The financial statements for the year ended March 31, 2023 have been restated in accordance with IND AS for Comparative information.

Financial Summary as Under: (Amt. in Lacs)

Particulars	2022-2023	2021-2022
Gross Income	37.06	39.93
Profit/(Loss) before interest and Depreciation	-	-
Provision for Depreciation	2.50	3.04
Extraordinary Item	-	-
Net Profit/(Loss) Before Tax	1.79	17.11
Provision for Tax	-	-
Net Profit/(Loss) After Tax	1.79	17.11
Balance of Profit brought forward	-	-
Balance available for appropriation	-	-
Proposed Dividend on Equity Shares	-	-
Tax on proposed Dividend	-	-
Transfer to General Reserve	-	-
Surplus carried to Balance Sheet	1.79	17.11

2. COMPANY'S PERFORMANCE AFFAIR

Your Directors are positive about the Company's operations and making best efforts to implement the cost reduction measures to the extent feasible.

The Company is also considering to diversify or expand the business considering the possibility and opportunities in the market.

3. DIVIDEND

Due to the inadequate Funds, Board of Directors does not recommend any Dividend. During the year, no amount was transferred to General Reserves.

4. RESERVES AND SURPLUS

The total reserves for the financial year 2022-23 is Rs. (1393.42) (Rs in Lacs).

5. SHARE CAPITAL

The total paid up capital of the Company as on March 31, 2023 is Rs. 6,99,50,000/- comprising of 30,35,000 Equity Shares of Rs. 10/- each amounting to Rs. 3,03,50,000/- and 39,60,000, @ 0% Redeemable Non-Cumulative Preference Shares of Rs. 10/- each amounting to Rs. 3,96,00,000/.

6. CHANGE IN NATURE OF BUSINESS

During the year, there has been no change in the nature of business of the Company.

7. DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with provisions of the Companies Act, 2013, Mr. Shakuntla Panna Dassani, who retires by rotation at the ensuing Annual General Meeting and being eligible, offers himself for reappointment.

The Company has received declaration from all the Independent Directors of the Company confirming that they meet criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013.

Mr.Himalay Pannalal Dassani (DIN: 00622736) who is eligible for re-appointment, be offer himself for re-appointed as the Managing Director, for a term of 3 (three) consecutive years with effect from 23rd day of September, 2023 on such terms and conditions as agreed between the board and Mr. Himalay Pannalal Dassani and authority to the Board of Directors to alter and vary the terms and conditions of the said appointment from time to time.

8. MEETINGS

A calendar of Meetings is prepared and circulated in advance to the Directors. During the year Five Meetings and Four Audit Committee Meetings were convened and held. The details of which are given as under.

SR. NO.	DATE	SR. NO.	DATE
Board Meeting		Audit Committee
1.	30-May -2022	1.	30-May -2022
2.	08-August-2022	2.	08-August-2022
3.	14-November-2022	3.	14-November-2022
4.	24-November-2022	4.	09-February-2023
5.	09-February-2023

The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

9. BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013, 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 & Remuneration.

Performance of the Board and Board's Committees was evaluated on various parameters such as Board composition & structure, frequency, flow and functioning of meetings, quality, experience, quality of decision making and effectiveness of processes.

10. COMMITTEES OF THE BOARD

During the year, in accordance with provisions of Companies Act, 2013, the Board of Directors of the Company has constituted/re constituted following 3 committees:

1) Audit Committee:

The Audit Committee of the Company reviews the reports to be submitted with the Board of Directors with respect of auditing and accounting matters. It also supervises the Company's financial reporting process. The Audit Committee Comprises of 3 Directors. The Chairman of the Audit Committee is a Non-executive and Independent Director. The Composition of the Audit Committee is as under:

Sr. No. Name	Nature of the Directorship	Designation
1. Mr. Shoaib Abdul Kader	Independent Director	Chairman
2. Mr. Akashdeep Manmohan Sabir	Independent Director	Member
3. Mrs. Shakuntla Panna Dassani	Director	Member

2) Nomination & Remuneration Committee:

The Company has Nomination & Remuneration Committee and presently the Nomination & Remuneration committee comprises of 3 (Three) Directors.

Sr. No. Name	Nature of the Directorship	Designation
1. Mr. Shoaib Abdul Kader	Independent Director	Chairman
2. Mr. Akashdeep Manmohan Sabir	Independent Director	Member
3. Mrs. Shakuntaa Panna Dassani	Director	Member

3) Stakeholder Relationship Committee:

The Company has Stakeholder Relationship Committee consisting of three members chaired by non executive Director. The Committee deals with various matters.

Sr. No. Name	Nature of the Directorship	Designation
1. Mr. Shoaib Abdul Kader	Independent Director	Chairman
2. Mr. Akashdeep Manmohan Sabir	Independent Director	Member
3. Mrs. Shakuntla Panna Dassani	Director	Member

11. REMUNERATION POLICY

The Board has, on the recommendation of the Nomination & Remuneration Committee framed a policy for selection and appointment of Directors, Senior Management and their remuneration.

12. DIRECTOR'S RESPONSIBILITY STATEMENT

In terms of Section 134(5) of the Companies Act, 2013, the directors would like to state that:

a) In the preparation of the annual accounts, the applicable accounting standards have been followed. b) The directors have selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give true and fair view of the state of affairs of the Company for the year under review. c) The directors have 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 have prepared the annual accounts on a going concern basis. 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 system to ensure compliance with the provisions of all applicable laws and that such system were adequate and operating effectively.

13. AUDITORS

M/s Shah Khandelwal Jain & Associates, Chartered Accountants, FRN No. 104497W was appointed as the Statutory Auditor of the Company in the 42nd Annual General Meeting of the Company held on 23rd December, 2022 from the conclusion of 42nd Annual general meeting till the conclusion of 47th Annual General Meeting to be held in the year 2027.

14. AUDITORS' REPORT

The Directors are of opinion that the comments in the Auditors report are self explanatory.

Auditor Observation and Management's explanation to the Auditor's observation

We also draw attention to Note 12 (a) “Authorised, Issued, Subscribed and Paid-up and par value per share” with regards to the Authorised share capital. The Company has increased its Authorised share capital from Rs. 7 crores to Rs. 25 Crores. However, since it has not complied with the requirement of filing form SH-7 with the Ministry of Corporate Affairs, the increase in Authorised capital has not been considered in the Financial Statements. In view of this the

Authorised capital is continued to be disclosed as Rs. 7 crores.

The management will take necessary steps to update the master data of MCA.

15. SECRETARIAL AUDIT REPORT

In terms of Section 204 of the Act and Rules made there under, M/s BA & Associates, Practicing Company Secretary, had been appointed as Secretarial Auditor of the Company for the Financial Year 2022-23.

Secretarial Auditor's observation and Management's explanation to the Auditor's observation

The Director refers to the Auditor's observation in the Secretarial Audit Report and as required under Section 203 of the Companies Act, 2013 the Company has obtained a secretarial audit report.

1. Quarterly/Half-yearly/Annual Compliances of Calcutta Stock Exchange for period under review: The company has not complied with the Quarterly/Half-yearly/Annual Compliances of Calcutta Stock Exchange for period under review.

The Company is suspended from Calcutta Stock Exchange. Therefore all the Compliances will be done at the time of Revocation of Suspension.

2. The Company is in non compliance with filing of E-form SH- 7 with reference to Increase in Authorized Share Capital and Amendment in Articles of Association and Memorandum of Association of the Company

The management will take necessary steps to update the master data of MCA

16. COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD MEETINGS AND GENERAL

MEETINGS.

The Company has complied with Secretarial Standards issued by the Institute of Company Secretaries of India on Board Meetings and General Meetings.

17. DISCLOSURES UNDER SECTION 22 OF THE SEXUAL HARASSMENT OF WOMEN AT

WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT,2013.

The Company has in place an anti-sexual harassment policy in line with the requirements of the Sexual Harassment of Women at workplace (Prevention, Prohibition and Redressal) Act, 2013 (“SH Act”). Internal Complaints Committees have been set up in accordance with the provisions of SH Act at the work place to redress sexual harassment compliant received. All employees (permanent or contractual trainees) are covered under the policy. No compliant was received from any employees of the Company or otherwise during the financial year 2022-23 and hence no complaint is outstanding as on 31 March, 2023 for redressal.

18. VIGIL MECHANISM

Pursuant to the Section 177 of the Companies Act, 2013, the Company has adopted the whistle Blower Policy under which employees or any other stakeholders can raise their concerns relating to fraud, malpractice or any such activity which is against the Company's interest. The Whistle Blower can directly approach the vigilance and Ethics officer i.e., Chairman of the Audit Committee. The Company has provided adequate safeguards against victimization of employees or other Whistle Blower who express their concerns.

19. RISK MANAGEMENT POLICY

The Company has laid down well defined Risk Management Policy. The Board Periodically reviews the risk and suggests steps to be taken to control and mitigate the same through a proper defined framework.

20. EXTRACT OF ANNUAL RETURN

The Annual Return of the Company as on March 31, 2023 in Form MGT - 7 is in accordance with Section 92(3) of the Act read with the Companies (Management and Administration) Rules, 2014 and is available on the website of the Company.

21. CODE OF CONDUCT

The Board of Directors has approved a Code of Conduct which is applicable to the Members of the Board and all employees in the course of day-to-day business operations of the company. The code laid down by the Board is known as “code of business conduct” which forms an Appendix to the Code.

22. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

Your Company has an effective internal control and risk-mitigation system, which are constantly assessed and strengthened with new/revised standards operating procedures. The Company's internal control system is commensurate to the size, scale and complexities of its Operations.

23. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION ANDFOREIGN EXCHANGE

EARNINGS AND OUTGO

Conservation of energy, technology absorption, foreign exchange earnings and outgo are Nil during the year under review.

24. INDUSTRIAL RELATIONS:

During the year under review, your Company enjoyed cordial relationship with workers and employees at all levels.

25. LISTING WITH STOCK EXCHANGES

The Company is Listed on BSE Limited. The Company is suspended from trading platform of Calcutta Stock Exchange.

26. PARTICULARS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER INSOLVENCY

AND BANKRUPTCY CODE, 2016

There is no application made or any proceeding pending under Insolvency and Bankruptcy Code, 2016 during the year under review.

27. OTHER INFORMATION

Your Directors hereby states 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:

1. Your Company has not provided Loans, Guarantees or made Investment pursuant to Section 186 of the Companies Act,2013;

2. The Provision of Section 135 of the Act with respect to Corporate Social Responsibility (CSR) is not applicable to the Company, hence, there is no need to develop policy on CSR and take initiative thereon;

3. The Company do not have any subsidiary, joint venture or, associate Company.

4. The Company has not accepted deposits covered under Chapter V of the Act;

5. No significant material orders were passed by the regulators or courts or tribunals impacting the going concern status and company's operations in future.

6. Since, the Company having paid-up capital less than the threshold provided under Regulation 27 (2) of the Listing Agreement, hence, the Company need not required to address Reports on Corporate Governance, certificate/s pertains thereto and.

7. There are no employees who are in receipt of salary in excess of the limits prescribed under Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

8. The Company has not entered any contracts or arrangements with related parties specified under Section 188 of Companies Act, 2013.

9. The 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.

27. ACKNOWLEDGEMENTS

An acknowledgement to all with whose help, cooperation and hard work the Company is able to achieve the results.

	For and on behalf of the Board of Directors
Place: Mumbai	Himalay Dassani	Shakuntla Panna Dassani
Date: 26th August, 2023	Managing Director	Director
	DIN: 00622736	DIN: 07136389