Dear Members,
The Directors of your Company have the pleasure in presenting the
Thirty Sixth Annual Report of your Company along with the Audited Financial Statements for
the Financial Year Ended March 31, 2022.
1. FINANCIAL RESULTS
The Summary of the Company?s financial performance, both on a
consolidated and standalone basis, for the Financial
Year ("FY") as compared to the previous FY 2020-21 is given
below:
| Particulars |
Consolidated |
Standalone |
|
2021-22 |
2020-21 |
2021-22 |
2020-21 |
| Total Income |
2,89,631.24 |
4,07,549.01 |
6,049.30 |
8,601.31 |
| Less: Expenditure including Deprecation |
2,86,626.59 |
4,04,120.01 |
5,920.18 |
8,529.28 |
| Profit before Tax |
3,004.65 |
3,429.00 |
129.12 |
72.03 |
| Provision for Taxation |
103.46 |
39.89 |
31.65 |
26.37 |
| Profit after Tax |
2,901.19 |
3,389.11 |
97.47 |
45.66 |
| Other Comprehensive Income |
265.12 |
-126.61 |
2.22 |
-0.40 |
| Total Other Comprehensive Income |
3,166.31 |
3,262.49 |
99.69 |
45.26 |
| Earnings Per Share (EPS) |
20.80 |
24.30 |
0.70 |
0.33 |
| Paid up Capital |
1,394.98 |
1,394.98 |
1,394.98 |
1,394.98 |
| Other Equity |
19,052.08 |
17,794.92 |
432.44 |
346.70 |
| Net Asset Value (Per Share) |
146.58 |
137.56 |
13.10 |
12.49 |
2 FINANCIAL PERFORMANCE
Standalone
Standalone total income for the FY 2021-22 is ` 6,049.30 lakhs and `
8,601.31 Lakhs for FY 2020-21. Further, there is an increase in EPS from ` 0.33 per share
to ` 0.70 per share.
Consolidated
Consolidated total income for the FY 2021-22 is ` 2,89,631.24 lakhs and
` 4,07,549.01 Lakhs for FY 2020-21. Further, there is an decrease in EPS from ` 24.30 per
share to ` 20.80 per share.
CONSOLIDATED FINANCIAL STATEMENT
As per Regulation 33 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 ("Listing Regulations") and applicable
provisions of the Companies Act, 2013 ("the Act") read with the Rules made
thereunder (as amended from time to time), the Consolidated Financial Statement of the
Company for the FY 2021-22 have been prepared in compliance with applicable Indian
Accounting Standards and on the basis of Audited Financial Statement of the Company and
its subsidiaries, as approved by the respective Board of Directors ("Board").
The Consolidated Financial Statement together with the Auditors?
Report is forming part of this Annual Report.
3. INFORMATION ON THE STATE OF AFFAIRS OF THE COMPANY affairs of
the Company has been given in Management Discussion & Analysis Report forming
TheInformationonthe part of this Annual Report.
4. DIVIDEND
Board of Directors of the Company had declared Interim Dividend of `
0.10 per equity share of ` 10/- each to the equity shareholders as on November 12, 2021.
Your directors recommend for confirmation of the Interim Dividend of FY
2021-22 at the ensuing annual general meeting.
Your directors do not recommend any further dividend for FY 2021-22.
5. TRANSFER TO RESERVES
The Board of your Company decided not to transfer any amount to the
General Reserve and retain the entire amount of profit under Retained Earnings.
6. SHARE CAPITAL
There were no changes in the Share Capital
structureoftheCompanyduringthefinancialyear . underreview
During the year under review your Company did not undertake any
buy-back of securities, issue of sweat equity or bonus shares. Further, the Company has
not provided any Stock Option Scheme to the employees.
7. ANNUAL RETURN
Pursuant to the provisions of Section 92(3) and 134(3)(a) of the Act
read with Rule 12(1) of the Companies (Management and Administration) Rules, 2014, the
Annual Return of the Company for the financial year ended March 31, 2022 is uploaded on
website of the Company at
http://www.abansenterprises.com/Investor?SearchField=Annual%20Return
8. NOMINATION AND REMUNERATION POLICY
The Company has framed a Nomination and Remuneration Policy pursuant to
Section 178 of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015. The Policy is
annexed to this Report as "Annexure I"
9. DIRECTORS? RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) of the Companies Act, 2013, the board of
directors, to the best of their knowledge and ability, confirm that:
(a) In the preparation of the annual accounts, the applicable
accounting standards have been followed and there are no material departures.
(b) They have 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 of the Company for that period.
(c) They have taken proper and sufficient care for the with the
provisions of the Act for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities.
(d) They have prepared the annual accounts on a going concern basis.
(e) They have laid down internal financial controls to be followed by
the Company and such internal financial controls are adequate and operating effectively.
(f) They have devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and operating
effectively. controls and compliance systems established and maintained by the
Basedontheframeworkofinternalfinancial
Company, the work performed by the internal, statutory and secretarial
auditors and external consultants, including the audit of internal financial controls over
financial reporting by the statutory auditors and the reviews performed by management and
the relevant board committees, including the audit committee, the Board is of the opinion
that the
Company?s internal financial controls were adequate and effective
during financial year 2021-22.
10. DIRECTORS AND KEY MANAGERIAL PERSONNEL
(a) Inductions to the Board
Following are the changes in the Board of Directors of the Company
during the period under review:
? Mr. Kaushik Mehta (DIN: 08607881) was appointed as Non-Executive
Director on July 26, 2021.
? Mr. Mulchand Darji (DIN: 07756481) was appointed as an Independent
Director on July 26, 2021 for a period of five years, i.e till July 25, 2026.
(b) Resignation of Directors
? Mr. Naresh Sharma, resigned as an Independent Director on July 26,
2021.
? Mr. Kishore Mahadik, resigned as an Independent Director on July 26,
2021.
(c) Retire by Rotation
As per the provisions of the Companies Act, 2013, Mr. Shivshankar Singh
(DIN: 07787861), the Non-Executive and
Non-Independent Director, whose office is liable to retire at the
ensuing AGM, being eligible, seeks reappointment.
Based on performance evaluation and the recommendation of the
nomination and remuneration committee, the Board recommends his reappointment.
The necessary resolution for re-appointment of Mr. Shivshankar Singh
forms part of the Notice convening the ensuing AGM scheduled to be held on September 29,
2022. The profile and skills that qualify Mr. Shivshankar Singh for Board membership, are
disclosed in the said Notice.
(d) Independent Directors? Declaration
The Company has received necessary declaration from each independent
director under Section 149(7) of the Companies Act, 2013, that he / she meets the criteria
of independence laid down in Section 149(6) of the Companies Act, 2013 and Regulation 25
of the Listing Regulations.
There has been no change in the circumstances affecting their status as
Independent Directors of the Company. Further, in terms of Section 150 read with Rule 6 of
the Companies (Appointment and Qualification of Directors)
Rules, 2014, as amended, Independent Directors of the Company have
included their names in the data bank of
Independent Directors maintained with the Indian Institute of Corporate
Affairs.
(e) Changes in KMP
? Mr. Nirbhay Vassa resigned as Chief Financial Officer of the Company
w.e.f. July 08, 2021;
? Mr. Deepesh Jain resigned as Company Secretary and Compliance Officer
w.e.f. August 26, 2021;
? Ms. Reshma Gwalani was appointed as Chief Financial Officer of the
Company w.e.f. September 03, 2021;
? Mr. Shobhan Mandulla was appointed as Company Secretary and
Compliance officer of the Company w.e.f.
September 03, 2021.
The Board places on record its appreciation for Mr. Nirbhay Vassa and
Mr. Deepesh Jain for their invaluable contribution and guidance during the tenure as Chief
Financial Officer and Company Secretary and Compliance
Pursuant to the provision of Section 203 of the Companies Act 2013, Mr.
Abhishek Bansal, Chairman and Managing Director,
Ms. Reshma Gwalani, Chief Financial Officer and Mr. Shobhan
Key Managerial Personnel of the Company as on March 31, 2022.
11. NUMBER OF MEETINGS OF THE BOARD
Six meetings of the Board were held during the year, the details of
which are provided in the Corporate Governance Report, forming part of this annual report.
The maximum interval between any two meetings did not exceed 120 days, as prescribed under
the Companies Act, 2013.
12. BOARD EVALUATION
The Board of Directors have carried out an annual evaluation of its own
performance, board committees, and individual directors pursuant to the provisions of the
Companies Act, 2013 and SEBI (LODR) Regulations, 2015.
The performance of the board was evaluated by the board after seeking
inputs from all the directors on the basis of 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 criteria such as the composition
of committees, effectiveness of committee meetings, etc.
The above criteria are broadly based on the Guidance Note on Board
Evaluation issued by the SEBI on January 5, 2017. In a separate meeting of independent
directors, performance of Non-Independent Directors, the board as a whole and the Chairman
of the Company were evaluated, taking into account the views of Executive Directors and
Non-Executive Directors.
The Board and the Nomination and Remuneration Committee reviewed the
performance of individual directors on the basis of criteria such as the contribution of
the individual director to the board and committee meetings like preparedness on the
issues to be discussed, meaningful and constructive contributions and inputs in meetings,
etc.
At the board meeting that followed the meeting of the independent
directors and meeting of Nomination and Remuneration Committee, the performance of the
board, its committees, and individual directors was also discussed. Performance evaluation
of independent directors was done by the entire board, excluding the independent directors
being evaluated.
13. AUDIT COMMITTEE
The Committee comprises Mr. Mulchand Darji (Chairman), Mr. Paresh Davda
(Member) and Mrs. Punita Suthar (Member). The Committee met 6 (Six) times during the year
under review, the details of which are given in the Corporate Governance Report forming
part of this Report.
All the recommendations made by the Audit Committee were accepted by
the Board of Directors.
14. AUDITORS i. Statutory Auditor
At the Annual General Meeting held on September 29, 2020, M/s. Paresh
Rakesh & Associates (Firm Registration
No. 119728W) were appointed as Statutory Auditor of the Company for a
period of five years i.e. till the conclusion of Annual General Meeting of the Company to
be held in the year 2025. ii. Secretarial Auditor
M/s. S. P. date & Associates, Practicing Company Secretaries (CP
No. 14247), was appointed as Secretarial Auditor of the Company for the F.Y. 2021-22. iii.
Cost Auditor
Your Company is principally engaged into Trading. Therefore, Section
148 of the Companies Act, 2013 is not applicable to the Company.
15. AUDIT REPORTS i. Statutory Auditor?s Report
The Auditors Report to the Shareholders for the year under review does
not contain any qualification, reservation, adverse comments or disclaimers. The notes to
the Accounts referred to in the Auditors? Report are self-explanatory and therefore
do not call for any further clarifications under Section 134(3)(f) of the Companies Act,
2013
ii. Secretarial Audit Report
The Secretarial Audit Report for F.Y. 2021-22 is annexed herewith as "Annexure
II". The report does not contain any qualification, reservation, adverse comments
or disclaimers.
16. INTERNAL AUDIT & CONTROLS
Pursuant to provisions of Section 138 read with rules made thereunder,
the Board has appointed M/s. R. Jangir and Co, Chartered Accountants, as an Internal
Auditor of the Company for FY 2021-22 to check the internal controls and functioning of
the activities and recommend ways of improvement. The Internal Audit is carried out on a
quarterly basis; the report is placed in the Audit Committee Meeting and the Board Meeting
for their consideration and direction.
17. INTERNAL FINANCIAL CONTROLS
The Internal Financial Controls with reference to financialstatements
as designed and implemented by the Company are adequate. The Internal Financial Control
procedure adopted by the Company are adequate for safeguarding its assets, the prevention
and detection of frauds and errors, the accuracy and completeness of the accounting
records and the timely preparation of reliable financial information. During the year
under review, the Internal Financial Controls were operating effectively and no material
or serious observation has been received from the Auditors of the Company for inefficiency
or inadequacy of such controls.
18. RISK ASSESSMENT AND MANAGEMENT
The Company?s governance structure has well-defined roles and
responsibilities, which enable and empower the Management to identify, assess and leverage
business opportunities and manage risks effectively. The Company has been on a continuous
basis reviewing and streamlining its various operational and business risks involved in
its business as part of its risk management policy. Your Company also takes all efforts to
train its employees handle and minimize these risks.
19. SUBSIDIARY COMPANIES AND ASSOCIATE COMPANIES
As on March 31, 2022, your Company has 3 (three) subsidiaries and no
associate companies or joint venture companies within the meaning of Section 2(6) of the
Act.
(i) Abans Jewels Limited (Formerly known as Abans Jewels Private
Limited) is in the business of export and import of precious / semi precious stone
studded, Gold and Silver Jewellery. The company also trades in debentures, securities and
enters in to derivative contracts on recognized stock exchanges.
(ii) Abans Gems & Jewels Trading FZC (Formerly known as Abans Gems
& Jewels Trading FZE) is primarily engaged in the business of import & export and
Trading in Gold, Jewellery, pearls and precious stones.
(iii) Splendid International Limited is in the business of dealing in
the precious metals.
During the financial year under review, the following companies ceased
to the subsidiaries of your Company w.e.f. January 01, 2022:
(a) Abans Creations Private Limited;
(b) LifeSurge BioSciences Private Limited;
(c) Tout Comtrade Private Limited; and
(d) Zicuro Technologies Private Limited.
During the year, the Board of Directors reviewed the affairs of the
subsidiaries. In accordance with Section 129(3) of the Companies Act, 2013, we have
prepared the consolidated financial statements of the Company, which form part of this
Annual Report. Further, a statement containing the salient features of the financial
statements of our subsidiaries in the prescribed format AOC-1 is annexed herewith as
"Annexure III" to the Board?s report.
The statement also provides details of the performance and financial
position of each of the subsidiaries. In accordance with Section 136 of the Companies Act,
2013, the audited financial statements, including the consolidated financial statements
and related information of the Company and audited accounts of each of its subsidiaries,
are available on our website
http://www.abansenterprises.com/Investor?SearchField=Financial%20Statement%20of%20Subsidiaries.
Material Subsidiaries
As required under Regulation 16(1)(c) and 46 of the Listing
Regulations, the Board of Directors has approved the Policy on Determination of Material
Subsidiaries ("Policy"). The said policy is available on the website of the
Company and can be accessed at
http://www.abansenterprises.com/CorporatePolicies?SearchField=Corporate%20Policies.
Accordingly, Abans Jewels Limited (Formerly known as Abans Jewels Private Limited) is
material subsidiary of the Company.
Investment in Subsidiaries
During the year under review, there were no investments in Subsidiary
Companies.
20. VIGIL MECHANISM
In pursuance of the provisions of section 177(9) & (10) of the
Companies Act, 2013, a Vigil Mechanism for Directors and Employees to report genuine
concerns has been established. The Vigil Mechanism Policy has been uploaded on the website
of the Company at
http://www.abansenterprises.com/CorporatePolicies?SearchField=Corporate%20Policies.
21. PARTICULARS OF LOANS, INVESTMENTS AND GUARANTEES
Particulars of loans given, investments made or guarantees or
securities provided and the purpose for which the loan or guarantee or security is
proposed to be utilized by the recipient of loan or guarantee or security pursuant to
Section 186 of the Act are given under Notes to Accounts annexed to Standalone Financial
Statements for the year ended March 31, 2022 and the same forms part of this Annual
Report.
22. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
In line with the requirements of the Act and the SEBI Listing
Regulations, the Company has formulated a Policy on Related Party Transactions. During the
year under review, the Policy has been amended to incorporate the regulatory amendments in
the SEBI Listing Regulations. The updated Policy can be accessed on the Company?s
website at
http://www.abansenterprises.com/CorporatePolicies?SearchField=Corporate%20Policies.
During the year under review, all the related party transactions are
entered on arm?s length basis, in the ordinary course of business and are in
compliance with the applicable provisions of the Companies Act, 2013 and the SEBI (LODR)
Regulations, 2015. There are no materially significant related party
transactions made by the Directors or Key Managerial Personnel etc. which may have
potential conflict with the interest of the Company at large or which warrants the
approval of the shareholders. Accordingly, no transactions are being reported in Form
AOC-2 – in terms of Section 134 of the Act read with Rule 8 of the Companies
(Accounts) Rules, 2014. All Related Party Transactions are presented to the Audit
Committee and the Board. Prior omnibus approval is obtained for the transactions which are
foreseen and repetitive in nature. A statement of all related party transactions is
presented before the Audit Committee on a quarterly basis, specifying the nature, value
and terms and conditions of the transactions.
The details of the related party transactions entered into by the
Company, in terms of Ind AS-24 are set out in Note to the financial statements forming
part of this Annual Report.
23. PARTICULARS OF EMPLOYEES
The information under Section 197 of the Companies Act, 2013 read with
Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
are forming part of this report and has been appended as "Annexure IV" to
the Board?s Report.
The statement containing names of top ten employees in terms of
remuneration drawn and the particulars of employees as required under Section 197(12) of
the Act read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, is provided in a separate annexure forming part of this
report. In terms of Section 136 of the Act, the said annexure is open for inspection and
any Member interested in obtaining a copy of the same may write to the Company Secretary
at compliance@abansenterprises.com
The Board of Directors affirms that the remuneration paid to Senior
Management of the Company is as per the
Nomination and Remuneration Policy of the Company.
24. LISTING WITH STOCK EXCHANGES
Abans Enterprises Limited continues to be listed on BSE Limited (BSE)
and Metropolitan Stock Exchange of India Limited (MSEI). It has paid the Annual Listing
Fees for the year 2022-23 to BSE & MSEI respectively.
25. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO i. Conservation of Energy
a. The steps taken or impact on conservation of energy – The Operations of the
Company are not energy intensive. However, adequate measures have been initiated for
conservation of energy.
b. The steps taken by the Company for utilizing alternate source of energy –
Company shall consider on adoption of alternate source of energy as and when the need
arises.
c. The Capital Investment on energy conversation equipment – No Capital
Investment yet.
ii. Technology absorption
a. The efforts made towards technology absorption. – Minimum technology
required for Business is absorbed.
b. The benefits derived like product improvement, cost reduction, product development
or import substitution
– Not Applicable.
c. In case of imported technology (imported during the last three years reckoned from
the beginning of the financial year)– Not Applicable.
? the details of technology imported;
? the year of import;
? whether the technology been fully absorbed;
? if not fully absorbed, areas where absorption has not taken place, and the reasons
thereof
d. The expenditure incurred on Research and Development – Not
Applicable. e. Foreign Exchange Earnings and Outgo- During the year under review,
there has been no earnings and outgo in foreign exchange.
26. DEPOSITS
During the financial year, Company has not accepted, invited and/or
received any deposits from the public as defined under Chapter V of the Companies Act,
2013 and the Companies (Acceptance of Deposits) Rules, 2014, as amended from time to time.
Further, Company had not made any deposits in the earlier years and accordingly no amount
was due for repayment for the financial year ended March 31, 2022.
27. BOARDS? COMMENT
The Auditors Report to the Shareholders for the year under review does
not contain any qualification, reservation, adverse comments or disclaimers. The notes to
the Accounts referred to in the Auditors? Report are self-explanatory and therefore
do not call for any further clarifications under Section 134(3)(f) of the Companies Act,
2013.
28. CHANGE IN THE NATURE OF BUSINESS, IF ANY
Your Company is engaged in the carry on the activities of trading,
processing, broking and consulting in all kind of commodities, agricultural products, base
metals, precious metals and stones and trading in commodities, shares and derivatives of
all kind in electronic exchanges, there has been no change in nature of the business from
the previous financial year.
29. ONE TIME SETTLEMENT AND VALUATION
During the year, the Company has not done any one time settlement for
loans taken from banks or financial institutions.
Thus Section 134 (3) (m) of the Act read with Rule 8 of the Companies
(Accounts) Rules 2014, is not applicable to the company.
30. CORPORATE SOCIAL RESPONSIBILITY (CSR)
Since the Company does not fall under the criteria stated under Section
135 of the Companies Act, 2013 the Company has not developed or implemented a policy for
Corporate Social Responsibility. In view of the same no CSR initiative was undertaken by
the Company.
31. INSOLVENCY AND BANKRUPTCY CODE, 2016
Your company does not fall under the applicability of Insolvency and
Bankruptcy Code, 2016, no such incidents were reported in the financial year.
32. OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT
WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
In accordance with the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 and rules made there under, the Company
has framed and adopted the policy for Prevention of Sexual Harassment at Workplace.
Your Company has complied with provisions relating to the constitution
of Internal Complaints Committee under the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013. Your Company was not in receipt of any
complaint of sexual harassment. There are no pending complaints of sexual harassment.
33. HUMAN RESOURCES
Your Company considers people as its biggest assets and ‘Believing
in People? is at the heart of its human resource strategy. It has put concerted
efforts in talent management and succession planning practices, strong performance
management and learning and training initiatives to ensure that your Company consistently
develops inspiring, strong and credible leadership.
Your Company has established an organization structure that is agile
and focused on delivering business results. With regular communication and sustained
efforts it is ensuring that employees are aligned on common objectives and have the right
information on business evolution. Your Company strongly believes in fostering a culture
of trust and mutual respect in all its employees seek to ensure that business world values
and principles are understood by all and are the reference point in all people matters.
The current workforce breakdown structure has a good mix of employees
at all levels. Your Board confirms that the remuneration is as per the remuneration policy
of the Company.
34. CORPORATE GOVERNANCE
Pursuant to SEBI (LODR) Regulations, 2015, the report on Corporate
Governance during the period under review with the Certificate issued by M/s S. P. Date
& Associates., Practicing Company Secretaries (CP No. 14247), on compliance in this
regards forms part of this Annual Report.
35. REPORTING OF FRAUD BY AUDITORS
During the year under review, the Statutory Auditors and Secretarial
Auditors have not reported any instances of frauds committed in the Company by its
officers or employees, to the Audit Committee under Section 143(12) of the Companies
Act, 2013.
36. OTHER REPORTS
Following reports have been prepared pursuant to SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 forms part of this
Directors? Report
Corporate Governance Report
Management Discussion and Analysis Report
37. COMPLIANCE WITH SECRETARIAL STANDARDS
The Board of Directors affirms that the Company has complied with the
applicable Secretarial Standards (‘SS?) issued by the Institute of Company
Secretaries of India (SS1 and SS2), relating to Meetings of the Board and its Committees
and General Meetings respectively, which have mandatory application during the year under
review.
38. SIGNIFICANT AND MATERIAL ORDERS PASSED BY REGULATORS OR COURTS and
material orders passed by the Regulators or Courts or Tribunals impacting the going
concern Therearenosignificant status and Company?s operations in future.
39. MATERIAL CHANGES AND COMMITMENTS, AFFECTING THE FINANCIAL POSITION
OF THE COMPANY
There were no material changes and/or commitments affecting the
financial position of the Company which have occurred between the end of the financialyear
ofthecompanytowhichthefinancialstatements relate and the date of the report.
40. CAUTIONARY STATEMENTS
Statements in this Annual Report, particularly those which relate to
Management Discussion and Analysis as explained in the Corporate Governance Report,
describing the Company?s objectives, projections, estimates and expectations may
constitute ‘forward looking statements? within the meaning of applicable laws
and regulations. Actual results might differ materially from those either expressed or
implied in the statement depending on the circumstances.
41. ACKNOWLEDGEMENTS
Your Directors would like to express a deep sense of appreciation for
the assistance and co-operation received from the Financial Institutions, Banks,
Government Authorities and Shareholders and for the devoted service by the Executives,
staffs and workers of the Company. The Directors express their gratitude towards each one
of them.
|
For and on behalf of the Board |
|
For Abans Enterprises Limited |
|
Sd/- |
|
Abhishek Bansal |
|
(Chairman and Managing Director) |
|
DIN: 01445730 |
| Place: Mumbai |
|
| Date: August 11, 2022 |
|
