To,
The Members,
Your Directors have pleasure in presenting their 14r Annual Report on the
business and operations of your Company together with the Audited Financial Statements and
the Auditor's Report for the year ended 31' March, 2022.
1. Financial summary or highlights/Performance of the Company (Standalone and
Consolidated)
|
|
|
(Rs. In Lakhs) |
| Particulars |
Standalone |
Consolidated |
|
2021-22 |
2020-21 |
2021-22 |
2020-21 |
| Turnover |
56.441.53 |
-42,694.49 |
56,441.53 |
-42.694.49 |
| Profit before Interest, Depreciation and Tax |
3,357.42 |
2,582.94 |
3,319.61 |
2,543.28 |
| Less Interest |
569.29 |
516.47 |
569.29 |
516.47 |
| Less Depreciation |
819.29 |
625.68 |
819.30 |
625.68 |
| Profit before tax |
1,968.84 |
1,440.79 |
1,931.02 |
1,401.13 |
| Less Provision for tax |
|
|
|
|
| Current lax |
525.00 |
370.00 |
525.00 |
370.00 |
| Deferred tax |
(34.81) |
(18.60) |
(34.81) |
(18.60) |
| Excess provision for earlier year |
17.74 |
(33.69) |
17.74 |
(33.69) |
| Profit after tax |
1.460.91 |
1,123.08 |
1,423.09 |
1.083.42 |
| Prior year adjustment |
- |
- |
- |
- |
| Profit after lax & prior year adjustments |
1.460.91 |
1,123.08 |
1,423.09 |
1.083.42 |
| Profit after adjustment of discontinued operations |
1,460.91 |
1,123.08 |
1,423.09 |
1.083.42 |
| Balance of profit brought forward from earlier years |
683.18 |
(447.32) |
3,799.41 |
2,680.18 |
| Transferred from Revaluation Reserve |
11.38 |
4.52 |
11.38 |
4.52 |
| Adjustment relating to Fixed Assets (net of Deferred Tax) |
- |
- |
- |
- |
| Unamortized cost written off on discounting of loans to subsidiary |
(33.79) |
(31.28) |
(2.70) |
(2.90) |
| Unamorlized Interest Expenses on Loans from related parties written off |
(0.86) |
- |
(0.86) |
- |
| Other comprehensive income |
11.67 |
34.18 |
11.67 |
34.18 |
| Exchange difference on translation of financial statements of foreignoperations |
- |
- |
2.661.12 |
2,429.15 |
| Profit available for Appropriations: |
2,132.50 |
683.18 |
5,241.98 |
3,799.41 |
| Appropriations |
|
|
|
|
| Transfer to General Reserves Proposed dividend: |
|
|
|
|
| Equity |
- |
- |
- |
- |
| Preference |
|
|
|
|
| Profit carried to Balance Sheet |
2132.50 |
683.18 |
5,241.98 |
3,799.41 |
'Includes Income from Sale of Services i.e. Freight and Logistics Income.
During the year under review, the Company recorded total revenue of Rs 56,441.53 Lakhs
as compared to Rs. 42,694.49 Lakhs in the previous year which is increase by 32.20% The
Company has earned a net profit of Rs.1,460.91 Lakhs as against profit of Rs. 1,123.8
Lakhs in the previous year which is increase by 30.08%. Your Directors are hopeful that
the Company may continue showing better performance in coming year.
2. Change in nature of Business
During the year under review, there has been no change in the nature of business of the
Company.
3. Dividend
Your Directors do not recommended any dividend for the year ended 31st March, 2022 and
the available surplus be retained to strength the net worth of the company.
4. Transfer to Reserves
Your Directors do not proposed any amount to be transferred to the Reserves for the
year ended 31st March, 2022.
5. Details of Subsidiary / Associate Companies
The Company had one subsidiary namely Tapti Pipes & Products Limited FZE (Overseas
Subsidiary).
The consolidated financial statements of your Company for the financial year 2021-22,
are prepared in compliance with applicable provisions of the Companies Act, 2013,
Accounting Standards and SEBI (LODR) Regulations, 2015. The consolidated financial
statements have been prepared on the basis of audited financial statements of the Company,
its subsidiaries, as approved by their respective Board of Directors.
A separate statement in Form AOC-1 containing the salient features of financial
statements of subsidiaries of your Company forms part of consolidated financial statements
in compliance with Section 129 and other applicable provisions, if any, of the Companies
Act, 2013.
6. Commission received by Directors from Subsidiary.
During the year under review none of the directors of the Company are in receipt of the
commission or remuneration from subsidiary of the Company, as provided under section 197
(14) of the Companies Act, 2013.
7. Details relating to remuneration of Director, KMPs and employees
Disclosure pertaining to remuneration and other details as required Section 197(12) of
the Companies Act 2013 read with rule 5 (1) and 5(2) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, is provided in Annexure - A.
8. Particulars of Employees
The statement of employees who receives remuneration exceeding the limits specified
under Rule 5(2) of Companies (Appointment & Remuneration of Managerial Personnel)
Rules, 2014 is also provided in Annexure - A to this report.
9. Particulars of loans, guarantees, investments outstanding during the financial year
Particulars of loans given, investments made, guarantees given and securities provided
along with the purpose for which the loan or guarantee or security is proposed to be
utilized by the recipient are provided in the standalone financial statement (Please refer
to Note 7 and 8 to the standalone financial statement).
10. Annual Return
As required under Section 92(3) read with section 134(3)(a) of the Companies Act 2013
read with rule 12 of the Companies (Management and Administration) Rules, 2014 including
amendments thereunder, the Annual Return filed with the Ministry of Corporate Affairs
(MCA) for the Financial Year 2020-21 is available on the web-link of the Company at
https://texniopipe.com and the Annual Return for Financial Year 2021-22 will be made
available on the website of the Company once it is filed with the MCA.
11. Deposits
Your Company has not invited/accepted any deposit within the meaning of Section 73 of
the Companies Act, 2013 and Rules made there under, during the year under review.
12. Conservation of energy, technology absorption, foreign exchange earnings and outgo
A statement giving details of conservation of energy, technology absorption, foreign
exchange earnings and out-go. in accordance with the requirement of the Section 134(3Xm)
of the Companies Act, 2013 read with rule 8 of the Companies (Account) Rules, 2014 forms
part of this Board's Report and is annexed as Annexure - B.
13. 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 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 particulars of
contracts or arrangements with related parties referred to in section 188(1) of the
Companies Act, 2013 for the financial year 2021-22 in the prescribed format, AOC 2 has
been enclosed with the report as Annexure - C.
The Policy on materiality of related party transactions and manner of dealing with
related party transactions as approved by the Board may be accessed on the Company's
website at the link: https://texmooipe.com
14. Auditors:
A. Statutory Auditors:
The Statutory Auditors M/s Anil Kamal Garg & Company, Chartered Accountants, Indore
(Firm Registration No. 004186C) was appointed in 10th Annual General Meeting to hold
office from the conclusion of the 10'" Annual General Meeting for a term of five
consecutive years till conclusion of 15‘" Annual General Meeting (subject to
ratification of the appointment by the members at every Annual General Meeting).The
requirement of seeking ratification of the members for the continuous of their appointment
has been withdrawn consequent upon the changes made by the Companies (Amendment) Act, 2017
with effect from May 07,2018.
The Statutory Auditors have given a confirmation to the effect that they are eligible
to continue with their appointment and that they have not been disqualified in any manner
from continuing as Statutory Auditors.
B. Secretarial Auditor:
Pursuant to 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 Dinesh Kumar Gupta, Company Secretary in Practice, Indore (M.P.), to
undertake the Secretarial Audit of the Company for the Financial Year 2022-23.
C. Cost Auditors:
In terms of the provisions of Section 148 of the Act read with the Companies (Cost
Records and Audit) Rules, 2014 as amended from time to time, the Board of Directors, on
the recommendation of the Audit Committee, has appointed M/s. Saurabh Parikh and
Associates, Cost Accountants, (Firm Registration No. 101495) as Cost Auditor of the
Company, for the financial year ending 31st March 2023, on a remuneration as mentioned in
the Notice convening the 14T Annual General Meeting for conducting the audit of
the cost records maintained by the Company.
A Certificate from M/s. Saurabh Parikh and Associates, Cost Accountants has been
received to the effect that their appointment as Cost Auditor of the Company, if made,
would be in accordance with the limits specified under Section 141 oftheAcland Rules
framed thereunder.
A resolution seeking Members' approval for remuneration payable to Cost Auditor forms
part of the Notice of the 14th Annual General Meeting of the Company and same is
recommended for your consideration.
The Company is required to maintain Cost Records as specified by the Central Government
under sub-section (1) of section 148 of the Companies Act, 2013.
Accordingly, the Company has made and maintained such accounts and records.
15. AUDITOR'S REPORTS
A. Statutory Auditor's Report:
The Notes on financial statement referred to in the Auditors' Report are
self-explanatory and do not call for any further comments. The Auditors' Report does not
contain any qualification, reservation or adverse remark.
B. Secretarial Auditor's Report:
Pursuant to the provisions of Section 204 (1) of the Companies Act, 2013 read with the
Companies (Appointment and Remuneration of Managerial Personal) Rules, 2014, the Company
has obtained a Secretarial Audit Report in the prescribed Form MR-3, from CS Dinesh Kumar
Gupta, Company Secretary in practice, Indore (MP.). The Company has also taken Secretarial
Compliance Report during the year from Secretarial Auditor as per SEBI (Listing
Obligations and Disclosure Requirement) Regulations, 2015 requirement. The Secretarial
Auditor' Report dated is annexed herewith as Annexure - D. The Secretarial Auditor has
observed qualifications as above in the report as under
a) The company has filed Form MGT-14 for Board Resolutions dated 14.02.2022 after the
closure of financial year on 13.06.2022 with additional fees.
b) The Company received a Show Cause Notice ref.SEBI/HO/EAD-8/KSA/C/17934/2019 dated
16.07.20219 from the Office of Adjudicating Officer. SEBI pertaining to GDR issue of the
Company. The company has filed a reply against the said notice on 08.03.2021.
Accordingly, a hearing before the Ld. Adjudicating Officer has been held on 18.05.2022.
The Adjudicating Officer of SEBI passed an ORDER NO. Order/W/NK/2022-23/17383- 17389 on
28.06.2022 imposed penalty under Section 15HA of SEBI Act of Rs.10.00 Crore on the company
and Rs.87.00 Lacs on Directors/others and under Section 23E of SCRAof Rs. 25.00 Lacs on
the company.
However, as per explanation given by the company, it has filed appeal with Hon'ble
Securities Appellate Tribunal (SAT) against the said order.
The comments of the Board on the above are as under:
a) The Company has filed the form on the said date due to inadvertence and owing to
gap in internal office information.
b) The Company after perusal and analysis of the said order and in consultation
with the Counsel with their due advice and legal opinion has filed an appeal before the
Hon'ble Securities Appellate Tribunal (SAT) and challenged the said order.
16. Details in respect of frauds reported by Auditors other than those which are
reportable to the Central Government
The Statutory Auditors, Cost Auditors or Secretarial Auditors of the Company have not
reported any frauds to the Audit Committee or to the Board of Directors under Section
143(12) of the Companies Act, 2013, including rules made there under.
17. Share Capital
During the Financial Year 2021-22, there has been no change in the Authorized Share
Capital of the Company & there has been no change and increase in issued, subscribed
and paid-up share capital of the Company.
As on 31.03.2022, the Company has authorized share capital of Rs. 36,00,00,000/-
divided into 3,60,00,000 Equity Shares of Rs. 10/- each & issued, subscribed and
paid-up share capital stands at Rs. 29,19,50,000/-divided into 2,91,95,000 Equity Shares
of Rs. 10/-each.
18. Disclosure regarding issue of employee stock options
The Company has not issued any shares under employee's stock options scheme pursuant to
provisions of Rule 12(9) of the Companies (Share Capital and Debenture) Rules, 2014.
19. Disclosure regarding issue of sweat equity shares
The Company has not issued sweat equity shares pursuant to provisions of Section 54
read with Rule 8 of the Companies (Share Capital and Debenture) Rules, 2014 during the
Financial Year.
20. Details of Directors and Key Managerial Personnel
Pursuant to the provisions of Section 152 of the Companies Act, 2013 Smt. Rashmi
Agrawal (DIN: 00316248), retires by rotation at the ensuing Annual General Meeting and
being eligible offers herself for re-appointment. Smt Rashmi Agrawal has given declaration
in terms of Section 164(2) of the Companies Act, 2013 to the effect that she is not
disqualified from being reappointed as a Director of the Company.
During the year under review, there has been no change taken place in Directors or KMPs
of the Company.
21. Declaration given by Independent Director(s) and reappointment.
In compliance with Section 149(7) of the Act. all Independent Directors have given
declaration that they meet the criteria of independence as laid down under Section 149(6)
of the Act and Regulation 16(1)(b) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015.
The Company in its 13th Annual General Meeting passed a Special Resolution
to re-appoint Mr. Amber Chaurasia (DIN- 07729278) as Non-Executive Independent Director
for a second term of five consecutive years with effect from 10th February, 2022.
The Board of Directors also stated that the re-appointment of Independent Director done
was in consideration and regard to his Integrity, Expertise and Experience (including the
proficiency).
Other than the above, there are no other appointment / re-appointment of Independent
Directors of the Company in the Financial Year 2021-22.
22. Internal Financial Controls
The Company believes that internal control is necessary principle of prudent business
governance that freedom of management should be exercised within a framework of
appropriate checks and balances. The Company remains committed to ensuring an effective
internal control environment that inter alia provides assurance on orderly and efficient
conduct of operations, security of assets, prevention and detection of frauds/errors,
accuracy and completeness of accounting records and the timely preparation of reliable
financial information.
The Company's independent and Internal Audit processes, both at the Business and
Corporate levels, provide assurance on the adequacy and effectiveness of internal
controls, compliance with operating systems, internal policies and regulatory
requirements.
The Financial Statements of the Company are prepared on the basis of the Significant
Accounting Policies that are carefully selected by management and approved by the Board.
These, in turn are supported by a set of divisional Delegation Manual & Standard
Operating Procedures (SOPs) that have been established for individual units/ areas of
operations.
The Company uses SAP Systems as a business enabler and also to maintain its Books of
Account. The SOPs in tandem with transactional controls built into the SAP Systems ensure
appropriate segregation of duties, tiered approval mechanisms and maintenance of
supporting records. The systems, SOPs and controls are reviewed by Senior management and
audited by Internal Auditor whose findings and recommendations are reviewed by the Audit
Committee of Board of Directors and tracked through to implementation.
The Company has in place adequate internal financial controls with reference to the
Financial Statements. Such controls have been tested during the year and no reportable
material weakness in the design or operation was observed. Nonetheless the Company
recognizes that any internal financial control framework, no matter how well designed, has
inherent limitations and accordingly, regular audit and review processes ensure that such
systems are reinforced on an ongoing basis.
23. Number of meetings of Board of Directors and committees
The details of Board and Committee meetings are given in the Corporate Governance
Report. The intervening gap between the Meetings was within the period as prescribed under
the Companies Act, 2013.
24. Committees of the Board
The details with respect to the compositions, powers, roles and terms of reference etc.
of relevant Committees of the Board of Directors are also given in the Corporate
Governance Report which forms a part of this Annual Report. All recommendations made by
the Audit Committee during the year were accepted by the Board on 25.
Familiarization Programme.
The Company has conducted the programme through its Managing Director, Whole-time
Director, Company Secretary and other Senior Managerial Personnel to familiarize the
Independent Directors with Company in following areas:-
Familiarization with the Company;
Independent directors' roles, rights and responsibilities;
Board dynamics & functions;
Nature of the Industry in which the Company operates;
Business Model of the Company;
Compliance management.
The Policy on Familiarization Programme may be accessed on the Company's website at the
link; https://texmopipe.com
26. Corporate Social Responsibility
The provisions of Section 135 of the Companies Act, 2013 is applicable to the Company,
accordingly the Company has developed and implemented Corporate Social Responsibility
initiatives. The Board in its meeting held on October 28, 2020 adopted Corporate Social
Responsibility (CSR) Policy of the Company and the composition of the CSR Committee is as
under;
1) Dr. Smita Hajari, Chairperson
2) Mr. Sanjay Kumar Agrawal, Member
3) Mr. ParvezAnjum, Member.
In addition to the above the Corporate Social Responsibility Committee of the Company
has recommended for incorporation of a Section 8 Company for undertaking CSR activities in
the future. The same was considered and approved by the Board of Directors of the Company.
The details of the Section 8 Company incorporated by the Company is appended below as
hereunder.
| S. no. |
Title |
Details |
| 1 |
Name of the Section 8 Company |
Texmo Pipes Foundation |
| 2 |
Corporate Identification Number (CIN) |
U85300MP2022NPL061022 |
| 3 |
Date of Incorporation |
24th May. 2022 |
| 4 |
Registered Address |
98. Bahadarpur Road. Burhanpur. Madhya Pradesh - 450 331 |
The Report on CSR activities is annexed herewith as Annexure - E.
27. BOARD EVALUATION:
Pursuant to provisions of the section 134(3)(p), 149(8) and Schedule IV of the
Companies Act, 2013 and Regulation 17 of SEBI Listing Regulations, annual performance
evaluation of Directors as well as of the Audit Committee, Nomination & Remuneration
Committee and Stakeholders' Relationship Committee of the Board has been carried out.
The performance evaluation of the Independent Directors was carried out by the entire
Board and the Performance Evaluation of Chairman and Non-Independent Directors was carried
out by the Independent Directors.
The manner in which the evaluation has been carried out has been provided in the
Corporate Governance Report.
28. Corporate Governance
The Company continue to imbibe and emulate the best corporate governance practices
aimed at building trust among all stakeholders - shareholders, employees, customers,
suppliers and others. The Company believes that fairness, transparency, responsibility and
accountability are the four key elements of corporate governance. The Corporate Governance
Report presented in a separate section forms an integral part of this Annual Report as
Annexure - F.
29. Details of establishment of vigil mechanism for directors and employees
The Vigil Mechanism of the Company, which also incorporates a whistle blower policy in
terms of the Listing Regulations, includes an Ethics & Compliance Task Force
comprising senior executives of the Company. Protected disclosures can be made by a
whistle blower through an e-mail, or dedicated telephone line or a letter to the Task
Force or to the Chairman of the Audit Committee. The Policy on vigil mechanism and whistle
blower policy may be accessed on the Company's website at https://texmopipc.com. During
the year under review no complaint was received in vigil mechanism.
30. Nomination and Remuneration Policy
The Company framed a policy for Nomination and Remuneration of all Directors & KMPs
etc in accordance with provisions of section 178 of Companies Act, 2013 and Rules made
thereunder and other applicable provisions of Companies Act, 2013, provisions of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, to harmonize the
aspirations of human resources consistent with the goals of the Company. Board of
Directors of the Company approved and updated the said policy as and when required. The
same may be accessed on the Company's website at: https://texmopipe.com
The Nomination and Remuneration Committee works with the entire Board to determine the
appropriate characteristics, skills and experience required for the Board as a whole and
for individual members. Members are expected to possess the required qualifications,
integrity, expertise and experience for the position. They should also possess the deep
expertise and insights in sectors / areas relevant to the Company and ability to
contribute to the Company's growth.
31. Risk Management Policy
The Company, like any other enterprise, is exposed to business risk which can be an
internal risks as well as external risks. One of the key risks faced by the Company in
today's scenario is the wide and frequent fluctuations in the prices of its raw material.
Any further increase in prices of raw materials could create a strain on the operating
margins of the Company. Inflationary tendencies in the economy and deterioration of
macroeconomic indicators can impact the spending power of the consumer because of which
down trading from branded products to non- branded can occur which can affect the
operating performance of the Company.
Any unexpected changes in regulatory framework pertaining to fiscal benefits and other
related issue can affect our operations and profitability.
However the Company is well aware of the above nsks and as part of business strategy
has put in mechanism to ensure that they are mitigated with timely action. The Company has
a robust Business Risk Management (BRM) framework to identify, evaluate business risks and
opportunities. This framework seeks to create transparency, minimize adverse impact on the
business objectives and enhance the Company's competitive advantage.
In the opinion of the Board of Directors, none of the aforementioned risks affect
and/or threaten the existence of the Company.
32. Transfer to Investor Education and Protection Fund
During the year under review the Company has no liability to transfer to Investor
Education and Protection Fund.
33. Management Discussion and Analysis Report
Management Discussion and Analysis, as required under Regulation 34(3) of SEBI (LODR)
Regulations, 2015 read with Schedule V of said Regulations, forms part of this Board's
report as Annexure -G.
34. Directors' Responsibility Statement
In terms of provisions of Section 134(5) of the Companies Act, 2013, the Board of
Directors Confirm that:
(I) In the preparation of the annual accounts for the financial year 2021-22, the
applicable accounting standards had been followed along with proper explanation relating
to material departures;
(ii) 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;
(iii) 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;
(iv) The directors had prepared the annual accounts on a going concern basis;
(v) 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; and
(vi) 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.
35. Insolvency and Bankruptcy Code, 2016
During the year under review, there are no proceedings initiated against the Company
under the Insolvency and Bankruptcy Code, 2016 which materially impact the business of the
Company.
36. Details of 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 along with the reasons thereof.
During the year under review, there were no instances where the Company required the
valuation for one time settlement or while taking the loan from the Banks or Financial
institutions.
37. Secretarial Standards
The Company is in compliance with the Secretarial Standards i.e. SS-1 and SS-2,
relating to 'Meetings of the Board of Directors' and 'General Meetings', respectively as
specified by the Institute of Company Secretaries of India.
38. Revision of Annual Financial Statements
There was no case of revision in financial statement during the year.
39. Voting Rights of Employees
There were no voting rights exercised by any employee of the Company pursuant to the
section 67(3) read with the Rule 16 of the Companies (Share Capital and Debenture) Rules,
2014.
40. Material changes and commitments affecting the financial position of the Company.
There have been no material changes and commitments affecting financial position of the
Company that have occurred between the end of the financial year of the Company to which
the financial statements relate and the date of this report.
41. Details of significant and material orders passed by the regulators or courts or
tribunal
There were no significant and material orders passed by the regulators or courts or
tribunal impacting the going concern status and Company's operations in future.
However, the Company was in receipt of show cause notice from SEBI dated 16.07.2019
from the Office of Adjudicating Officer pertaining to GDR issue of the Company.
Accordingly, the Company has filed a reply against the said notice on 08.03.2021. Also, a
hearing before the Ld. Adjudicating Officer has been held on 18.05.2022. However, the
Adjudicating Officer of SEBI passed an order on 28.06.2022 imposed a penalty of Rs. 10.25
Cr. on the Company. The Company after perusal and analysis of the said order and in
consultation with the Counsel with their due advice and legal opinion signified that the
order has been passed on inaccurate assessment of facts and on disproportionate
grounds.and accordingly filed an appeal before the Hon'ble Securities Appellate Tribunal
(SAT) against the said order.
42. Code of Conduct
The Board has adopted the Code of Conduct for members of the Board and Senior
Management personnel of the Company. The Code lays down, in details, the standards of
business conduct, ethics and governance. The compliance of the same has been affirmed and
a declaration signed by the Managing Director to this effect is given below. Code of
Conduct has also been posted on the Company's Website. https://texmopiDe.com
Declaration
Pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,
the Company hereby confirms that it has obtained from all the Members of the Board and
senior management personnel, affirmations that they have complied with the code of conduct
in respect of financial year ended on March 31,2022.
43. Anti-sexual harassment policy
The Company has in place an Anti-Sexual Harassment Policy in line with the requirements
of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act
2013. An Internal Committee has been set up to redress the complaints received regarding
sexual harassment at workplace. All employees including trainees are covered under this
policy.
The following is the summary of sexual harassment complaints received and disposed off
during the current financial year.
Number of Complaints pending at the beginning of the financial year: Nil
Number of Complaints received during the financial year: Nil
Number of Complaints disposed off during the financial year: Nil
Number of Complaints pending at the end of financial year: Nil
44. Acknowledgement
Your Directors would like to gratefully acknowledge and place on record their sincere
appreciation for the cooperation and assistance received from its stakeholders, advisors,
valued customers, suppliers, banks, consultants, financial institutions, government
authorities and stock exchanges. The Directors also wish to place on record their sincere
appreciation of the devoted and dedicated services rendered by all Executives, Staff
Members and Workmen of the Company.
|
For and on behalf of the Board of Directors |
|
Sd/- |
Sd/- |
|
Sanjay Kumar Agrawal |
Vijay Prasad Pappu |
| Place:-Burhanpur |
Managing Director |
Whole Time Director cum CFO |
| Date: 10.08.2022 |
(DIN.: 00316249) |
(DIN.: 02066748) |
|