To The Members,
Your Directors are pleased to present the 43rd Annual Report together with the audited
accounts of the Company for the year ended March 31, 2020.
FINANCIAL HIGHLIGHTS
PARTICULARS |
2019-20 |
2018-19 |
Revenue from Operations |
- |
- |
Other Income |
0.22 |
280.12 |
Total Revenue |
0.22 |
280.12 |
Pro t before Exceptional item, depreciation, interest & Tax (PBDIT) |
-98.55 |
227.15 |
Interest & other financial expenses |
- |
- |
Depreciation and amortization expenses |
- |
- |
Pro t before Tax (PBT) |
-98.55 |
227.15 |
Tax Expenses- Current / Deferred |
- |
18.00 |
Pro t after Tax (PAT) |
-98.55 |
209.15 |
Other Comprehensive Income |
- |
- |
Total Comprehensive |
-98.55 |
209.15 |
Income for the period |
|
|
Earning per share-Basic/ Diluted |
-1.19 |
2.52 |
Note: The financial statements of the Company for the year ended 31st March, 2020, are
prepared in accordance with Indian Accounting Standards (Ind AS).
During the year under review, the operations continued to be inoperative. The Company
earned other income of R0.22 lakhs as against other income of R280.12 lakhs in previous
year earned on account of Settlement of claims with Debtors and written o other
liabilities. After accounting for Financial Cost and Other Expenses, the Company has
incurred a net loss of R98.55 lakhs during the year under review as against a net profit
of R209.15 lakhs during the previous year.
IMPACT OF COVID-19 PANDEMIC
In the last month of FY 2020, the COVID-19 pandemic developed rapidly into a global
crisis, forcing governments to enforce lock-downs of all economic activity. For the
Company, the focus immediately shifted to ensuring the health and well-being of all
employees. The Company is sensitive about the impact of the Pandemic which will be
realized only over next few months. The Company has been monitoring the situation closely
and has taken proactive measures to comply with various directions/ regulations/
guidelines issued by the Government and local bodies to ensure safety of workforce across
its workplace.
FINANCIAL STATUS
There is no change in ued and subscribed capital of R828.31 lakhs. There are no equity
shares with differential rights or sweat equity or ESOP or scheme of purchase of Company
shares by employees or their trustees.
SCHEME OF AMALGAMATION
The proposed Scheme for Amalgamation of Steel Strips Limited (Transferor Company) with
SAB Industries Ltd. (Transferee Company) has been approved by BSE vide its Observation
Letter No. DCS/AMAL/ BA/R37/1572/2019-20 dated 12th September, 2019. The Company has also
led merger petition under Section 230 to Section 232 and other applicable rules and
provisions under Companies Act, 2013 with National Company Law Tribunal (NCLT), Chandigarh
Bench on 26th September 2019. NCLT vide its order dated June 12, 2020 has directed to
convene meeting of shareholders at the Registered officeof the Company on 29.08.2020 for
their approval on the scheme.
DIVIDEND
As Company does not have any distributable profits computed under provisions of
Companies Act, 2013, no dividend is being recommended.
FIXED DEPOSITS
The Company has not accepted any fixed deposits during the year under review.
OPERATIONS
The Company did not have any manufacturing activity. Your Directors have to state that
the Company has led suits for recovery against certain debtors, suppliers and others, who
have also led counter claims against the Company. The claims against the Company, which
amount to R 376.75 lakhs (Previous year R 376.75 lakhs), have been stayed in the courts
U/S 22 of Sick Industrial Companies Special Provisions Act, 1985 or under Section 10 of
Code of Civil Procedure Act. Your Directors are con dent that no liability will arise on
the Company on this account. Accordingly, no provision for the same has been made in the
books of accounts.
MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE
COMPANY
There are no significant and material changes occurred subsequent to the close of the
financial year to which the Financial Statements relate and up to the date of report that
would impact the going concern status of the Company and its future operations.
CORPORATE SOCIAL RESPONSIBILITY AND GOVERNANCE COMMITTEE
Since the Company does not have net profits in any financial year in accordance with
Section 135 of the Companies Act, 2013, the Company is not required to undertake any
activity under CSR Rules.
DETAILS OF SUBSIDIARY, JOINT VENTURES OR ASSOCIATE COMPANY
The Company is not having any Joint Venture, Associate Company or Subsidiary Company
reportable under Section 129(3) of the Companies Act, 2013.
CORPORATE GOVERNANCE REPORT- DISCLOSURE REQUIREMENTS
As prescribed in Regulation 15(2) of SEBI (LODR) Regulations, 2015 compliance of
corporate governance provisions is not applicable to the Company. However, as a good
practice taking steps to maintain transparency, accountability and equity in order to
improve its dealings with all concerned, The Company not only complies with the regulatory
requirements but is also responsive to the stakeholders' as well as associates needs. The
Company already has an Audit Committee, a Stakeholder Relationship Committee and
Nomination and Remuneration Committee duly constituted by the Board to look after various
activities. The Corporate Governance practices followed by the Company are enclosed as
Annexure to this report.
MANAGEMENT DISCUSSION AND ANALYSIS
The Company is not having any manufacturing activity for any article covered by
Schedule-1 of the IDR Act.
ANNUAL RETURN
The extract of the annual return as provided under Section
92(3) of the Act, in Form MGT-9, is attached and forms part of this report.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) of the Companies Act, 2013, the Directors' con rm that: a.
in preparation of the annual accounts for the year ending 31st March, 2020, the applicable
accounting standards had been followed along with proper explanation relating to material
departures, if any. 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 a airs 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 control to be followed by the Company and that such internal financial controls
were 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.
INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY
The internal control systems and processes of the Company cover operational efficiency,
accuracy and promptness in financial reporting, compliance with laws and regulations and
development of mature, disciplined and effective processes. The processes are also
designed to meet the goals of cost, schedule, functionality and quality, thus resulting in
higher levels of customer satisfaction.
An independent Audit Committee of the Board reviews the adequacy of internal controls.
DIRECTORS
A) hanges in Directors and Key Managerial Personnel
Since the last Annual General Meeting, there are no changes in the Board of Directors
of the Company. As per the provisions of Companies Act, 2013, Shri Rajinder Kumar Garg
(DIN-00034827), retires by rotation at the forthcoming Annual General Meeting and, being
eligible, offers himself for re-appointment.
B) Declaration by an Independent Director(s) and reappointment, if any.
A declaration by Independent Directors stating that he/they meet the criteria of
independence as provided in Sub-section (6) of Section 149 of the Companies Act, 2013 has
been taken at the time of their appointment.
C) Formal Annual Evaluation
The Board of Directors has carried out an annual evaluation of its own performance,
Board committees and individual directors pursuant to the provisions of the Act and the
corporate governance requirements as prescribed by Securities and Exchange Board of India
("SEBI") under LODR Regulations, 2015.
The performance of the Board was evaluated by the Board after seeking inputs from all
the directors on the basis of the criteria such as the Board composition and structure,
effectiveness of board processes, information and functioning, etc.
The performance of the committees was evaluated by the Board after seeking inputs from
the committee members on the basis of the criteria such as composition of committees,
effectiveness of committee meetings, etc.
The Board and the Nomination and Remuneration Committee ("NRC") reviewed the
performance of the individual directors on the basis of the criteria such as the
contribution of the individual director to the Board and committee meetings like
preparedness on the issue to be discussed, meaningful and constructive contribution and
inputs in meetings etc. In addition, the Chairman was also evaluated on the key aspects of
his role.
In a separate meeting of Independent Directors, performance of non-independent
directors, performance of the board as a whole and performance of the Chairman was
evaluated, taking into account the views of executive directors and non-executive
directors, The same was discussed in the Board meeting, at which the performance of the
Board, its committees and individual directors was also discussed.
NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS
During the year under review, 5 Board Meetings were held, one each on 30th May 2019,
2nd July, 2019, 14th August, 2019,14th November 2019 and 10th February 2020.
POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION AND OTHER DETAILS
The Company's policy on Directors' appointment and remuneration and other matters
provided in Section 178(3) of the Act has been disclosed in the corporate governance
report, which forms part of the Directors' Report.
AUDIT COMMITTEE
The Audit & Compliance Committee comprises of three non-executive Independent
Directors viz. Shri S S Virdi, Shri M M Chopra and Smt. Manju Lakhanpal and one
Non-executive Director, Shri H K Singhal. During the year, the committee held five
meetings. Other details of the Audit Committee are included in the Corporate Governance
Report which forms part of this report.
The Board had accepted all recommendation of the Audit Committee.
DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM/ WHISTLE BLOWER POLICY FOR DIRECTORS AND
EMPLOYEES
The Company has formulated and published a Whistle Blower Policy to provide vigil
mechanism for employees including Directors of the Company to report genuine concerns. The
provisions of this Policy are in line with the provisions of Section 177(9) of the Act and
Regulation 22 of SEBI (LODR) Regulations, 2015.
There are no cases reported during the year.
NOMINATION AND REMUNERATION COMMITTEE
The committee has been constituted to review and recommend compensation payable to the
whole-time directors including Chairman and senior management of the Company. The
committee reviews the overall compensation structure and policies of the Company with a
view to attract, retain and motivate employees, reviewing compensation levels of the
Company vis-a-vis other Companies and industry in general. The "Nomination &
Remuneration Policy" may be accessed on the Company's website at
http//www.sslindia.net
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186
There were no Loans/ Guarantee given or Investments made by the Company during the year
exceeding the limits prescribed under section 186 of Companies Act, 2013.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES: All contracts
/arrangements/transactions entered by the company during the financial year with related
parties were in the ordinary course of business and on an arm's length basis, During the
year, the Company had not entered into any contract/arrangement/transaction with related
parties which could be considered material in accordance with the policy of the Company on
materiality of related party transactions. The policy on materiality of Related Party
Transactions and dealing with related party transactions as approved by the Board is
uploaded on the Website of the Company.
Disclosures as required under Indian Accounting Standards (Ind AS-24) have been made in
the financial statements of the company, enclosed with this report.
BUSINESS RISK MANAGEMENT
The Company has policy to regularly review the payments of Creditors and statutory dues
etc. and manage its cash flow activity from time to time. As such the Company su ers no
risk, if any, which may threaten the existence of the Company.
AUDITORS
As per the Provisions of Section 139 of Companies Act, 2013, M/s AKR & Associates,
Chartered Accountants, were appointed as Statutory Auditors of the Company to hold
officetill the conclusion of Annual General Meeting to be held in the calendar year 2022
(subject to rati cation of their appointment at every AGM). The Company has received a
certificate from them pursuant to Companies (Audit & Auditors) Rules 2014 read with
Section 139 & 141 of the Companies Act, 2013, confirming their eligibility for
reappointment, and that they were not disqualified for reappointment.
In accordance with the Companies (Amendment) Act, 2017, enforced on 7th May, 2018 by
the Ministry of Corporate A airs, the appointment of Statutory Auditors is not required to
be ratified at every Annual General Meeting.
AUDITORS' REPORT AND SECRETARIAL AUDITORS' REPORT
The Auditors' Report and Secretarial Auditors' Report do not contain any quali cations,
reservations or adverse remarks. Report of Secretarial Auditor is attached as an annexure
which forms part of this report.
LISTING OF SHARES
Equity shares of the Company are listed on Bombay Stock Exchange. BSE has revoked
suspension of trading of its Equity Shares on 14th May 2019 and trading in equity shares
has been resumed from 22nd May 2019.
DEMATERIALISATION
Shares of the company are available for dematerialization for
6 the investors. ISIN of the Company has been activated by Central Depository Services
Limited (CDSL) on 10.10.2018 and the National Depository Services Limited (NSDL) on
19.10.2018. As on 31.03.2020, 5918795 shares (71.46%) of the shares of Company are held
under Demat inculding that 2768775 shares (33.43%) of promoters. ISIN number allotted to
the Company is INE01RN01014.
INSURANCE
All the assets of the Company have been adequately insured.
PARTICULARS OF EMPLOYEES
Relations with the employees during the period under review continued to be peaceful
and harmonious.
PERSONNEL AND RELATED DISCLOSURES
The information required under Section 197 of the Act read with rule 5 of the Companies
(Appointment and remuneration of managerial personnel) rules 2014 is enclosed with this
report. The Board expresses deep appreciation of employees for their support.
HEALTH, SAFETY AND ENVIRONMENT PROTECTION
Our Company has complied with all the applicable health & Safety standards,
environment laws and labour laws and has been taking all necessary measures to protect the
environment and provide workers a safe work environment. Our Company is committed for
continual improvement in Health & Safety as well as Environmental performance by
involving all the employees to provide a Safe & healthy work environment to all its
employees
DISCLOSURE AS PER SEXUAL HARASSMENT OF WOMEN AT WORK PLACE (PREVENTION, PROHIBITION AND
REDRESSAL) ACT, 2013
The Company 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 thereunder. During the financial year 2019-20, the Company has
not received any complaint on sexual harassment and hence no complaints remain pending as
on 31st March, 2020.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
Information in accordance with the provisions of Section 134(3) (m) of the Companies
Act, 2013 regarding Conservation of Energy, Technology Absorption and Foreign Exchange
Earnings and Outgo is not applicable as the Company did not have any manufacturing
facility during the period under consideration. There were no foreign exchange earnings/
outgo during the period.
ACKNOWLEDGEMENT
Your Directors acknowledge with gratitude the assistance, cooperation and support
received by the Company from Statutory/ Govt. Bodies, Customers and Shareholders of the
Company.
For and on behalf of Board |
S. S. VIRDI |
SANJAY GARG |
Director |
Executive Director |
DIN-00035408 |
DIN-00030956 |
Place: Chandigarh
Date : 30th June 2020
FORM NO. MGT 9
EXTRACT OF ANNUAL RETURN
As on financial year ended on 31.03.2020
Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the Company
(Management & Administration) Rules,2014 I. REGISTRATION & OTHER DETAILS:
i. CIN |
L45202PB1975PLC003610 |
ii. Registration Date |
23/12/1975 |
iii. Name of the Company |
STEEL STRIPS LIMITED |
iv. Category/Sub-category of the Company |
PUBLIC LIMITED |
v. Address of the Registered office & contact details |
VILLAGE HARKISHANPURA, BHAWANIGARH TEHSIL, DISTT. SANGRUR (PB) 148026. |
|
TEL:+91-01672-278106, 278104 |
|
FAX: +91-01672-278110 |
vi. Whether listed company |
LISTED COMPANY |
vii. Name, Address & contact details of the Registrar & Transfer Agent, if
any. |
SKYLINE FINANCIAL SERVICES PVT. LTD., |
|
D-153/A, 1 FLOOR, OKHLA INDUSTRIAL AREA, PHASE-1, |
|
NEW DELHI-110020. |
|
PHONE: 011-26812682-83 |
II. PRINCIPALBUSINESS ACTIVITIES OF THE COMPANY
(All the business activities contributing 10 % or more of the total turnover of the
company shall be stated) The Company did not have any manufacturing activity.
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES
The company has no holding, subsidiary or associate company holding at least twenty
percent of total share capital of the company.
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
(i) Category-wise Share Holding
Category of Shareholders |
No. of Shares held at the beginning of the year [As on
01-April-2019] |
No. of Shares held at the end of the year [As on
31-March-2020] |
|
% Change during the year |
|
Demat |
Physical |
Total |
% of Total Shares |
Demat |
Physical |
Total |
% of Total Shares |
|
A. Promoters |
|
|
|
|
|
|
|
|
|
(1) Indian |
|
|
|
|
|
|
|
|
|
a) Individual/ HUF |
505285 |
- |
505285 |
6.10 |
505285 |
- |
505285 |
6.10 |
- |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
b) Central Govt |
|
|
|
|
|
|
|
|
|
c) State Govt(s) |
|
|
|
|
|
|
|
|
|
d) Bodies Corp. |
2263490 |
|
2263490 |
27.33 |
2263490 |
- |
2263490 |
27.33 |
- |
e) Banks / FI |
|
|
|
|
|
|
|
|
|
f) Any other |
|
|
|
|
|
|
|
|
|
Total shareholding of |
2768775 |
- |
2768775 |
33.43 |
2768775 |
- |
2768775 |
33.43 |
- |
Promoter (A) |
|
|
|
|
|
|
|
|
|
B.Public Shareholding |
|
|
|
|
|
|
|
|
|
1. Institutions |
|
|
|
|
|
|
|
|
|
a) Mutual Funds |
- |
4570 |
4570 |
0.05 |
|
4570 |
4570 |
0.05 |
- |
b) Banks / FI |
- |
900 |
900 |
0.01 |
- |
900 |
900 |
0.01 |
- |
c) Central Govt |
|
|
|
|
|
|
|
|
|
d) State Govt(s) |
|
|
|
|
|
|
|
|
|
e) Venture CapitalFunds |
|
|
|
|
|
|
|
|
|
f) Insurance Companies |
437901 |
800 |
438701 |
5.30 |
437901 |
800 |
438701 |
5.30 |
- |
g) FIIs |
|
|
|
|
|
|
|
|
|
h) Foreign Venture |
|
|
|
|
|
|
|
|
|
Capital Funds |
|
|
|
|
|
|
|
|
|
i) Others (specify) |
|
|
|
|
|
|
|
|
|
Sub-total (B)(1):- |
437901 |
6270 |
444171 |
5.36 |
437901 |
6270 |
444171 |
5.36 |
- |
Category of Shareholders |
No. of Shares held at the beginning of the year [As on 01April-2019] |
No. of Shares held at the end of the year [As on 31
March-2020] |
|
% Change during the year |
|
Demat |
Physical |
Total |
% of Total Shares |
Demat |
Physical |
Total |
% of Total Shares |
|
2. Non-Institutions |
|
|
|
|
|
|
|
|
|
a) Bodies Corp. |
1656775 |
1062600 |
2719375 |
32.83 |
2674376 |
45049 |
2719425 |
32.83 |
- |
i) Indian |
|
|
|
|
|
|
|
|
|
ii) Overseas |
|
|
|
|
|
|
|
|
|
b) Individuals |
|
|
|
|
|
|
|
|
|
i) Individual |
|
|
|
|
|
|
|
|
|
Shareholders |
|
|
|
|
|
|
|
|
|
Holding nominal share capital |
|
|
|
|
|
|
|
|
|
upto R2 lakhs |
24810 |
2325972 |
2350782 |
28.38 |
37743 |
2312989 |
2350732 |
28.38 |
- |
ii) Individual shareholders holding nominal share capital in excess of R 2. lakhs |
- |
|
|
|
- |
|
|
|
- |
c) Others (specify) |
|
|
|
|
|
|
|
|
|
Non Resident Indians |
|
|
|
|
- |
|
|
|
- |
|
- |
|
|
|
|
|
|
|
|
Overseas Corporate |
|
|
|
|
|
|
|
|
|
Bodies |
|
|
|
|
|
|
|
|
|
Foreign Nationals |
|
|
|
|
|
|
|
|
|
Clearing Members |
|
|
|
|
|
|
|
|
|
Trusts |
|
|
|
|
|
|
|
|
|
Foreign Bodies - D R Sub total (B)(2): |
1681585 |
3388572 |
5070157 |
61.21 |
2712119 |
2358038 |
5070157 |
61.21 |
- |
Total Public |
2119486 |
3394842 |
5514328 |
66.57 |
3150020 |
2364308 |
5514328 |
66.57 |
- |
Shareholding |
|
|
|
|
|
|
|
|
|
(B)=(B)(1)+ (B)(2) |
|
|
|
|
|
|
|
|
|
C. Shares held by Custodian for GDRs & ADRs |
|
|
|
|
|
|
|
|
|
Grand Total (A+B+C) |
4888261 |
3394842 |
8283103 |
100 |
5918795 |
2364308 |
8283103 |
100 |
- |
ii) Shareholding of promotor
S.No. Shareholder's Name |
Shareholding at the beginning of the year |
Shareholding at the end of the year |
% change in shareholding during the year |
|
No. of Shales |
% of total Shares of the company |
%of Shares Pledged / encumbered to total shares |
No. of Shares |
% of total Shares of the company |
%of Shares Pledged / encumbered to total shares |
1 Shri R K Garg |
451300 |
5.45 |
- |
451300 |
5.45 |
- |
- |
2 Shri R K Garg & Sons (HUF) |
250 |
0.00 |
' |
250 |
0.00 |
' |
' |
3 Smt. Sunena Garg |
4690 |
0.06 |
|
4690 |
0.06 |
- |
- |
4 Shri Dheeraj Garg |
31175 |
0.38 |
- |
31175 |
0.38 |
- |
- |
5 Ms. Priya Garg |
17870 |
0.22 |
- |
17870 |
0.22 |
- |
- |
6 Sab Industries Ltd. |
885934 |
8.28 |
- |
685934 |
8.28 |
- |
- |
7 Sab Udyog Ltd. |
953395 |
11.51 |
- |
953395 |
11.51 |
- |
- |
8 Steel Strips Mercantile Pvt. Ltd. |
11625 |
0.14 |
|
11625 |
0.14 |
. |
. |
9 Steel Strips Financiers Pvt. Ltd. |
6075 |
0.07 |
_ |
6075 |
0.07 |
_ |
_ |
10 Munak International Pvt. Ltd. |
97600 |
1.18 |
|
97600 |
1.18 |
|
|
11 S S Credits Pvt. Ltd. |
150 |
0.00 |
- |
150 |
0.00 |
- |
- |
12 S J Mercantile Pvt. Ltd. |
1165 |
U.U1 |
- |
1165 |
0.01 |
- |
- |
13 Malwa Holding Pvt. Ltd. |
1563 |
0.02 |
|
1563 |
0.02 |
|
|
14 Steel Strips Holding Pvt. Ltd. |
8033 |
0.10 |
- |
8033 |
0.10 |
- |
- |
15 Steel Strips Industries Ltd. |
83325 |
1.01 |
- |
83325 |
1.01 |
- |
- |
16 Munak Financiers Pvt. Ltd. |
5625 |
0.07 |
- |
5625 |
0.07 |
- |
- |
17 Steel Strips Infrastructures Ltd |
409000 |
4.94 |
|
409000 |
4.94 |
" |
- |
|
2768775 |
33.43 |
- |
2768775 |
33.43 |
- |
- |
(III) Change In Promoters' Shareholding (please specify, If there is no change)
There is no change in promoters shareholding during the year.
(Iv) Shareholding Pattern of top ten Shareholders (Other than Directors, Promoters and
Holders of GDRs
andADRs):
S.No. Top 10 Shareholders* |
Shareholding at the beginning of the year |
Cumulative Shareholding end of the year |
|
No. Of Shares |
% of total shares of the company |
No. Of Shares |
% of total shares of the company |
1. Steel Strips Wheels Invt. Ltd. |
413000 |
4.99 |
413000 |
4.99 |
2. 3a Capital Services Ltd. |
752901 |
9.09 |
753101 |
9.09 |
3. Life Insurance Corpn. of India |
424701 |
5.13 |
424701 |
5.13 |
4. Priya Tools Pvt. Ltd |
825100 |
9.96 |
825100 |
9.96 |
5. Bloomen Flora Ltd. |
826000 |
9.97 |
417000 |
5.03 |
6. APS Investments Pvt. Ltd. |
264400 |
3.19 |
264400 |
3.19 |
7. Jagman Singh |
15100 |
0.18 |
15100 |
0.18 |
8. Narendra C Malia |
15000 |
0.18 |
15000 |
0.18 |
9. Gen. Insurance Corpn. of India |
11409 |
0.14 |
11409 |
0.14 |
10. Umesh Mehta |
11100 |
0.13 |
11100 |
0.13 |
The shares of the Company are not/infrequently traded on a daily basis and hence the
date wise increase/ decrease in shareholding is not indicated.
(v) Shareholding of Directors and Key Managerial Personnel:
S.No. Folio/Beni ciary Account No. |
Name of the Share Holder |
Date |
Reason |
Shareholding at the beginning of the year |
Cumulative Shareholding during the year |
|
|
|
|
No. of shares |
% of total shares of the company |
No. of shares |
% of total shares of the company |
1. IN300476 10368502 |
Sh. R K Garg |
01.04.2019 |
At the beginning of the year |
451300 |
5.45 |
451300 |
5.45 |
|
|
31.03.2020 |
At the end of the year. |
451300 |
5.45 |
-do- |
-do- |
2. 44221 |
Sh. Sanjay Garg |
01.04.2019 |
At the beginning of the year |
200 |
0.00 |
200 |
0.00 |
|
|
31.03.2020 |
At the end of the year |
200 |
0.00 |
-do- |
-do- |
3. 11984 |
Sh. H K Singhal |
01.04.2019 |
At the beginning of the year |
1250 |
0.01 |
1250 |
0.01 |
|
|
31.03.2020 |
At the end of the year |
1250 |
0.01 |
-do- |
-do- |
V. INDEBTEDNESS -Indebtedness of the Company including interest outstanding/accrued but
not due for payment.
NIL
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
ii) Shareholding of promotor
S.No. Shareholder's Name |
Shareholding at the beginning of the year |
Shareholding at the end of the year |
% change in shareholding during the year |
|
No. of Shales |
% of total Shares of the company |
%of Shares Pledged / encumbered to total shares |
No. of Shares |
% of total Shares of the company |
%of Shares Pledged / encumbered to total shares |
1 Shri R K Garg |
451300 |
5.45 |
- |
451300 |
5.45 |
- |
- |
2 Shri R K Garg & Sons (HUF) |
250 |
0.00 |
' |
250 |
0.00 |
' |
' |
3 Smt. Sunena Garg |
4690 |
0.06 |
|
4690 |
0.06 |
- |
- |
4 Shri Dheeraj Garg |
31175 |
0.38 |
- |
31175 |
0.38 |
- |
- |
5 Ms. Priya Garg |
17870 |
0.22 |
- |
17870 |
0.22 |
- |
- |
6 Sab Industries Ltd. |
885934 |
8.28 |
- |
685934 |
8.28 |
- |
- |
7 Sab Udyog Ltd. |
953395 |
11.51 |
- |
953395 |
11.51 |
- |
- |
8 Steel Strips Mercantile Pvt. Ltd. |
11625 |
0.14 |
|
11625 |
0.14 |
. |
. |
9 Steel Strips Financiers Pvt. Ltd. |
6075 |
0.07 |
_ |
6075 |
0.07 |
_ |
_ |
10 Munak International Pvt. Ltd. |
97600 |
1.18 |
|
97600 |
1.18 |
|
|
11 S S Credits Pvt. Ltd. |
150 |
0.00 |
- |
150 |
0.00 |
- |
- |
12 S J Mercantile Pvt. Ltd. |
1165 |
U.U1 |
- |
1165 |
0.01 |
- |
- |
13 Malwa Holding Pvt. Ltd. |
1563 |
0.02 |
|
1563 |
0.02 |
|
|
14 Steel Strips Holding Pvt. Ltd. |
8033 |
0.10 |
- |
8033 |
0.10 |
- |
- |
15 Steel Strips Industries Ltd. |
83325 |
1.01 |
- |
83325 |
1.01 |
- |
- |
16 Munak Financiers Pvt. Ltd. |
5625 |
0.07 |
- |
5625 |
0.07 |
- |
- |
17 Steel Strips Infrastructures Ltd |
409000 |
4.94 |
|
409000 |
4.94 |
" |
- |
|
2768775 |
33.43 |
- |
2768775 |
33.43 |
- |
- |
(III) Change In Promoters' Shareholding (please specify, If there is no change)
There is no change in promoters shareholding during the year.
(Iv) Shareholding Pattern of top ten Shareholders (Other than Directors, Promoters and
Holders of GDRs
andADRs):
S.No. Top 10 Shareholders* |
Shareholding at the beginning of the year |
Cumulative Shareholding end of the year |
|
No. Of Shares |
% of total shares of the company |
No. Of Shares |
% of total shares of the company |
1. Steel Strips Wheels Invt. Ltd. |
413000 |
4.99 |
413000 |
4.99 |
2. 3a Capital Services Ltd. |
752901 |
9.09 |
753101 |
9.09 |
3. Life Insurance Corpn. of India |
424701 |
5.13 |
424701 |
5.13 |
4. Priya Tools Pvt. Ltd |
825100 |
9.96 |
825100 |
9.96 |
5. Bloomen Flora Ltd. |
826000 |
9.97 |
417000 |
5.03 |
6. APS Investments Pvt. Ltd. |
264400 |
3.19 |
264400 |
3.19 |
7. Jagman Singh |
15100 |
0.18 |
15100 |
0.18 |
8. Narendra C Malia |
15000 |
0.18 |
15000 |
0.18 |
9. Gen. Insurance Corpn. of India |
11409 |
0.14 |
11409 |
0.14 |
10. Umesh Mehta |
11100 |
0.13 |
11100 |
0.13 |
A. Remuneration to Managing Director, Whole-time Directors and/or Manager:
Shri Sanjay Garg, Executive Director has been reappointed w.e.f. 12/08/2016 for ve
years without any remuneration B. Remuneration to other directors
S.No. Particulars of Remuneration |
Name of Directors |
|
Total Amount ( r) |
|
Sh. M M Chopra |
Sh. S.S. Virdi |
Mrs Manju Lakhanpal |
|
1 Independent Directors |
|
|
|
|
Fee for attending board committee meetings |
- |
1,20,000 |
1,40,000 |
2,60,000 |
Commission |
- |
- |
- |
|
Others, please specify |
|
|
|
|
Total (1) |
- |
1,20,000 |
1,40,000 |
2,60,000 |
2 Other Non-Executive Directors |
Sh. R K Garg |
Sh. H K Singhal |
|
|
Fee for attending board committee meetings |
1,00,000 |
1,10,000 |
|
|
Commission |
- |
- |
|
|
Others, please specify |
|
|
|
|
Total (2) |
1,00,000 |
1,10,000 |
|
2,10,000 |
Total (B)=(1+2) |
|
|
|
4,70,000 |
Total Managerial |
|
|
|
|
Remuneration |
|
|
|
Nil |
Overall Ceiling |
Not Applicable as only sitting fees paid. |
|
|
C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD
SN Particulars of Remuneration |
KeyManagerial Personnel CS (Ms. Jyotsana Bajaj) |
Gross salary |
|
(a) Salary as per provisions contained in section 17(1) of the Income- tax Act, 1961 |
3,06,600 |
(b) Value of perquisites u/s 17(2) Income-tax Act, 1961 |
- |
(c) Pro ts in lieu of salary under section 17(3) Income-tax Act, 1961 |
|
Stock Option |
- |
Sweat Equity Commission |
- |
- as % of pro t |
- |
Others, specify
|
- |
Others, please specify |
- |
Total (r) |
3,06,600 |
VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:
There were no penalties, punishment or compounding of o ences during the year ended
March 31, 2020
DETAILS OF DIRECTORS SEEKING APPOINTMENT/RE-APPOINTMENT IN ANNUAL GENERAL MEETING
Name of Director (DIN) |
Shri Rajinder Kumar Garg (DIN:00034827) |
Date of Birth |
18/08/1943 |
Date of first Appointment |
26/12/1975 |
Quali cation Experience in |
Shri Rajinder Kumar Garg, a qualified F.I.E and an eminent |
Speci c functional areas |
Industrialist, is Promoter and Chairman of the Company. He has wide and varied
experience in business development operations and has made significant contribution to the
progress of the Company. |
List of companies in which |
Steel Strips Wheels Ltd. |
outside Directorships held |
Steel Strips Infrastructures Ltd. |
(excluding Private Ltd./ |
SAB Industries Ltd. |
Foreign Companies) |
Indian Acrylics Ltd. |
Chairman/ Member of the Committee of Board of Directors of the Company includes only
Audit Committee and Stakeholders Relationship Committee |
Nil |
Chairman/ Member of the Committee of Directors of other Companies in which he is a
Director includes only Audit Committee and Stakeholders Relationship Committee No. of
shares held in the Company |
Nil 451300 equity shares |
Relationship with other Directors/ Key Managerial Personnel |
Nil |
For other details, such as, Number of meetings of the Board attended during the
financial year, Remuneration last drawn, remuneration proposed to be paid,terms and
conditions of Appointment/re-appointment, please Refer to the attached Board's Report, MGT
9, Corporate Governance Report and the notes alongwith Explanatory Statement.
|