To,
The Members
Aroma Enterprises (India) Limited Ahmedabad
1. COMPANY SPECIFIC INFORMATION:
1.1 FINANCIAL RESULTS:
The Board of Directors hereby submits the report of the business and operations of your
company along with the audited financial statements, for the financial year ended March
31, 2023.
| PARTICULARS |
2022-2023 |
2021-2022 |
| Revenue from Operation |
- |
- |
| Other Income |
- |
145.40 |
| Profit/loss before Depreciation, Finance Costs, |
(23.44) |
(57.49) |
| Exceptional items and Tax Expenses |
|
|
| Less: Depreciation/ Amortisation/ Impairment |
5.37 |
7.75 |
| Profit/loss before Finance Costs, Exceptional items and Tax Expenses |
(28.81) |
(65.24) |
| Less: Finance Costs |
- |
2.06 |
| Profit/loss before Exceptional items and Tax |
(28.81) |
(67.30) |
| Expenses |
|
|
| Add/Less: Exceptional items |
- |
- |
| Profit/loss before Tax Expenses |
(28.81) |
(67.30) |
| Less: Tax Expenses (Current & Deferred) |
0.38 |
0.12 |
| Profit/loss for the Year (1) |
(29.19) |
(67.42) |
| Total Comprehensive Income/Loss(2) |
0 |
0 |
| Total (1+2) |
(29.19) |
(67.42) |
REVIEW OF OPERATION:
The Total income from the operations is Nil and the expenditure incurred during the
year is Rs. 28.81 Lakhs/-. Further Net Loss of the company is Rs.29.19 Lakhs/- as compared
to net loss of previous year company of Rs. 67.42/-.
1.2 TRANSFER TO RESERVES:
During the period under review, the company has not transferred any sum to the reserve
funds of the company except the loss incurred during the financial year under review.
1.3DIVIDEND:
The Board of Directors of your Company, after considering holistically the relevant
circumstances, has decided that it would be prudent not to recommend any Dividend for the
year under review.
1.4 MAJOR EVENTS OCCURRED DURING THE YEAR
a) State of the company's affair:
The Company is currently into the buying, selling and trading of Cigarettes with the
brand named "One & Only" and commissioning of Coal.Also the management of
the company would like to draw your attention to the point that due to slack market
condition of our product and Covid- pandemic Condition and lock down effect, the Company
though continuously trying to sale its products and making expenditure on employees salary
, travelling conveyance , marketing etc.Also the Company is strongly of the positive
mindset that it will be able to generate the business during the upcoming time
b) Change in Nature of Business:
During the year there has been no change in the nature of the business of the Company.
c) Material changes and commitments affecting the financial position of the company:
There has been no material changes and commitments apart from the one which has been
briefly descried in the state of the company's affairs which affects the financial
position of the Company which have occurred between the end of the financial year of the
Company to which the financial statements relate and the date of the report.
2. GENERAL INFORMATION:
2.1 Overview of the Industry and important changes in the industry during the last
year:
The global tobacco products market grew from $253.3 billion in 2022 to $266.93 billion
in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted
the chances of global economic recovery from the COVID-19 pandemic, at least in the short
term. The war between these two countries has led to economic sanctions on multiple
countries, a surge in commodity prices, and supply chain disruptions, causing inflation
across goods and services and affecting many markets across the globe. The tobacco
products market is expected to grow to $316.79 billion in 2027 at a CAGR of 4.4%.
Asia-Pacific was the largest region in the tobacco products market in 2022.North
America was the second-largest region of the tobacco products market.
The regions covered in the tobacco products market report are Asia-Pacific, Western
Europe, Eastern Europe, North America, South America, Middle East, and Africa.
2.2 External Environment and Economic Outlook:
Factors such as rising disposable incomes, marketing strategies of tobacco companies,
availability of different flavors of cigarette and social & cultural factors are
currently driving this market. This report by Expert Market Research entitled
"Cigarette Market Report and Forecast 2023-2028" provides a comprehensive
analysis for anyone who plans to foray into the cigarette market.
Historical market trends for the cigarette industry have been provided from 2018-2022
and forecasts have been presented till 2026. On a regional level, the report has segmented
the global cigarette market into the following regions North America, Europe, Asia
Pacific, Latin America, Middle East and Africa. Currently, Asia pacific represents the
largest market. On the basis of the product type, the global cigarette market has been
segmented as Virginia (flue-cured), American Blend, Dark and Oriental cigarettes.
3 . CAPITAL AND DEBT STRUCTURE:
During the year under review, the company has neither issued nor bought back shares.
The Capital of the company remains same as under.
| AuthorizedShare Capital |
Rs.7,50,00,000 divided into 75,00,000 shares of Rs. 10 each |
| Issued Share Capital |
Rs.5,00,00,000 divided into 50,00,000 shares of Rs. 10 each |
| Paid Up share Capital |
Rs.4,94,04,000 divided into 49,40,400 shares of Rs. 10 each |
The Capital of the Company consists of only Equity shares and no debenture or any other
debt securities issued by the company.
4 . CREDIT RATING
During the year the company has not issued any securities and not raised any loan which
requires credit rating, hence credit rating provision is not applicable on company and has
not obtained any credit rating during the year.
5. INVESTOR EDUCATION AND PROTECTION FUND
The Company was not required to transfer any amount to the Investor Education and
Protection Fund.
6. MANAGEMENT:
6.1 Directors and Key Managerial Personnel:
Board Composition:
The constitution of the Board (as on 31/03/2023) and the attendance of the Directors
are given below:
| Name of the Director |
Category of the Director (NE/E/ID) |
Designation |
No. of Directorship |
No. of Meetings attend ed |
Details of committee |
Presence in previous AGM |
|
|
|
|
|
Chair man |
Member |
|
| SnehalAjitbhai Patel |
Executive Director |
Managing Director |
10 |
10 |
- |
03 |
No |
| ChiragRawal ManishaSagar |
Independent Director |
Director |
1 |
10 |
04 |
04 |
Yes |
| Bhatewara |
Independent Director |
Director |
2 |
10 |
0 |
03 |
|
Directors:
1. Appointments:
There has been no appointment of any director in the company during the year under
review.
2. Re-appointment:
There has been no re-appointment of any director in the company during the year under
review.
Key Managerial Person:
Mr. Ankit Shukla has resigned as the Chief Financial Officer of the Company with effect
from 03rd September, 2022 and to fill the said causal vacancy caused due to the
Resignation, Mr. UpeshDarji has been appointed as the Chief Financial Officer of the
Company with effect from 04th September, 2022.
6.2 Independent Director:
There has been no appointment of any director in the company during the year under
review.
6.3 Independent director's declaration and statement on compliance of code of conduct:
The company has received necessary declarations from each Independent Director under
Section 149(6) and 149(7) of the Companies Act, 2013 and regulation 16(1)(b) and
regulation 25(8) of SEBI (Listing Obligations and Disclosures Requirements) Regulations,
2015, that they meet the criteria of independence laid down thereunder.
The Independent Directors of the company have complied with the code for Independent
Directors as prescribed in Schedule IV of the act.
As on 31st March, 2023, half of the Board Members consist of Independent
Directors having rich experience in their fields and they have added value to the
management of the company. An enlightened Board consciously creates a culture of Board
leadership to provide a long-term vision and policy thinking in order to improve the
quality of governance. The Board's actions and decisions are aligned with the Company's
best interests.
Independent Directors of the company met 1 (One) time during the year 2022 - 2023 dated
16/03/2023 without the attendance of Non Independent Director and members of the Board.
6.4Board Meetings:
During the period under review, 10 (Ten) Board Meeting were held by the Board of
Directors to transact various business items.
The details are as mentioned below:
| Sr. No |
Date of the Board Meeting |
Sr. No |
Date of the Board Meeting |
| 1 |
28.04.2022 |
6 |
14.11.2022 |
| 2 |
21.06.2022 |
7 |
01.12.2022 |
| 3 |
04.07.2022 |
8 |
29.12.2022 |
| 4 |
13.08.2022 |
9 |
14.02.2023 |
| 5 |
03.09.2022 |
10 |
23.03.2023 |
6.5 Committees:
1. Audit Committee: a) Brief Description
The primary object of the Audit Committee is to monitor and provide an effective
supervision of the Management's financial reporting process, to ensure accurate and timely
disclosures with the highest level of transparency, integrity and quality of financial
reporting. The committee oversees the work carried out in the financial reporting process
by the Management, the internal auditor, the statutory auditor notes the processes and
safeguards employed by each of them.
b) Constitution and Composition of Audit Committee
The Company has in accordance with the Section 177 of the companies Act, 2013 and
Regulation 18 of SEBI (Listing obligations and Disclosure Requirements), 2015 constituted
the Audit Committee.The Audit Committee met 05 (Five) times during the last financial year
on the following dates:
| Sr. No. |
Date of the Meeting |
Sr. No. |
Date of the Meeting |
| 1. |
05.05.2022 |
4 |
13.11.2022 |
| 2. |
02.07.2022 |
5 |
14.02.2023 |
| 3 |
12.08.2022 |
|
|
The constitution of the Committee (as on 31/03/2023) and the attendance of each member
of the Committee are given below:
| Name of the Member |
Type of Director |
Category |
No. of Meetings |
Attendance |
| Mr.ChiragRawal |
Independent Director |
Chairman & Member |
5 |
5 |
| Mrs.ManishaBhatewara |
Independent Director |
Member |
5 |
5 |
| Mr.Snehal Patel |
Managing Director |
Member |
5 |
5 |
2. Nomination & Remuneration Committee a) Constitution & Composition of
Nomination & Remuneration Committee:
The Company has in accordance with Section 178(1) of the companies Act, 2013 and
Regulation 19 of SEBI (Listing obligations and Disclosure Requirements), 2015 constituted
the Nomination & Remuneration Committee. The main function of the Nomination &
Remuneration Committee is the formulation and recommendation of the policy for the
appointment, removal, performance evaluation of the directors & the consideration to
be paid to them and other matters as may be determined by the committee and the prevailing
provisions for formulation of criteria for evaluation of Independent Directors and Board.
Further to recommend/review remuneration of Directors based on their performance and carry
out functions as mandated by Board from time to time.
The Committee consists of Mr.ChiragRawal, Mrs.ManishaBhatewara and Mr.Snehal Patel and
themeetinghas been held on 01st September,2022which is conducted by the
Nomination and Remuneration Committee.
3. Stakeholders Relationship Committee:
The Company has formulated the Stakeholders Relationship Committee in accordance with
the Section 178(5) of the Companies Act, 2013 and SEBI (Listing Obligations and
Disclosures Requirements) Regulations, 2015 as entered into by the Company. The function
of the Stakeholders Relationship Committee is to look into complaints if any and redress
the same expeditiously. Besides, the committee approves allotment, transfer &
Transmission of shares, Debentures, issue of any new certificates on split / consolidation
/ renewal etc. as may be referred to it. During the relevant financial year, 4 (Four)
Committee Meetings were held on following dates:
| Sr. No. |
Date of the Meeting |
Sr. No. |
Date of the Meeting |
| 1 |
09.06.2022 |
3 |
15.12.2022 |
| 2 |
22.09.2022 |
4 |
02.03.2023 |
The constitution of the Committee as on 31/03/2023 is as under:
| Name of the Member |
Type of Director |
Category |
No. of Meetings |
Attendance |
| Mr.ChiragRawal |
Independent Director |
Chairman &Member |
4 |
4 |
| Mr.Snehal Patel |
Managing Director |
Member |
4 |
4 |
Company has not received Complain from shareholders of the Company during the year of
review which is yet pending.
The details of the Compliance Officer and the details of complaints received / solved /
unsolved during the year are as follows:
Compliance Officer:
Name: Mr.AbdulqadirShoebHajiwala, Company Secretary& Compliance Officer Mail Id:
compliance.mgc@gmail.com Contact No.:079-27540175
| Compliant received during the year* |
Compliant solved during the year |
Compliant pending during the year* |
| - |
- |
- |
Note: The Company had not received any investor complaint in the year 2022-2023.
4. Independent Directors' Meeting:
The Independent Directors of the Company met during the year on 16/03/2023without the
attendance of non Independent Directors and members of the Board. The Independent
Directors reviewed the performance of the non-independent Directors and Board as whole.
The performance of the Chairman taking into account the views of executive Directors and
non-executive Directors assessed the quality, quantity and timeline of flow of information
between company management and Board.
6.6 Recommendation of Audit Committee:
There were no transactions which were recommended by the audit committee and not
accepted by the board of the directors of the company.
6.7 Company's Policy on Directors appointment and remuneration:
The current policy is to have an appropriate mix of executive and independent directors
to maintain the independence of the board, and separate its functions of governance and
management. The policy of the Company on directors' appointment and remuneration,
including the criteria for determining qualifications, positive attributes, independence
of a director and other matters, as required under sub-section (3) of Section 178 of the
Companies Act, 2013 is available at company's website www.aromaenterprises.in.
There has been no change in the policy since last fiscal. We affirm that the
remuneration paid to the directors is as per the terms laid out in the Nomination and
Remuneration Policy of the Company.We would like to draw your attention to the matter that
in this financial year i.e 2022-23 the Directors are not paid sitting fees considering the
financial constraints of the company and for which the Directors have provided their
consent for the waiver of the sitting fees.
6.8 Board Evaluation:
During the year, the Board adopted a formal mechanism for evaluating its performance
and as well as that of its Committees and individual Directors, including the Chairman of
the Board.
The evaluation framework for assessing the performance of Directors (including
Independent Directors) comprises of the following key areas:
? Attendance and participation in the Meetings and timely inputs on the minutes of the
meetings.
? Adherence to ethical standards & code of conduct of Company and disclosure of non
independence, as and when it exists and disclosure of interest. ? Raising of valid
concerns to the Board and constructive contribution to resolution of issues at meetings. ?
Interpersonal relations with other directors and management.
? Objective evaluation of Board's performance, rendering independent, unbiased opinion.
? Understanding of the Company and the external environment in which it operates and
contribution to strategic direction. ? Safeguarding interest of whistle-blowers under
vigil mechanism and Safeguard of confidential information.
The evaluation involves Self-Evaluation of the Board Member and subsequently assessment
by the Board of Directors. A member of the Board will not participate in the discussion of
his / her evaluation.
1. Observations of board evaluation carried out for the year:
2. Previous year's observation s and actions taken:
3. Proposed actions based on current year observations:
6.9 Remuneration of Directors and Employees of Listed companies:
Pursuant to the Sub Rule (2) of the Rule 5 of the Companies (Appointment &
Remuneration or Managerial Personnel) Rules, 2014 and Amendment rules, 2016, read with
Section 197 of the Act, no employees was in receipt of the remuneration in aggregate to
Rs. One Crore Two Lakhs per annum or Rs. Eight Lakh Fifty Thousand per month or at a rate
in excess of that drawn by the Managing Director / Whole time director of Manager and
holds himself or along with his spouse & dependent children, not less than two percent
of the equity shares of the Company. Further, the information required pursuant to Section
197 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 in respect of employees of the Company will be provided upon
request.
In terms of Section 136 of the Act, the Report and Accounts are being sent to the
Members and others entitled thereto, excluding the information on employees' particulars
which is available for inspection by the Members at the Registered Office of the Company
during the business hours on working days of the Company up to the date of the ensuing
Annual General Meeting. If any Member is interested in obtaining a copy thereof, such
Member may write to the Company Secretary in this regard.
As per the provisions of Section 197(12) of the Companies Act, 2013, read with Rule 5
of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the
details of the ratio of the remuneration of each director to the median employee's
remuneration are described in the "Annexure-I" to this report.
Further, in pursuance to the Rule 5(2) of the Companies (Appointment and Remunerations
of Managerial Personnel) Rules, 2014, the details of the employees employed throughout the
financial year or part thereof, was in receipt of remuneration in that year, which, in the
aggregate, or as the case may be, at a rate which in the aggregate, is in excess of that
drawn by the Managing Director or Whole Time Directors or Manager and holds by himself or
along with his spouse and dependent children, not less than two per cent of the equity
shares of the company, is not being feasible for the company, as the company currently
pays sitting fees to the director of the company.
6.10 Remuneration received by Managing Director/ Whole time Director from holding or
subsidiary company:
There is no such amount received by the Managing Director/ Whole time Director as the
company does not have any holding company or subsidiary company.
6.11 Director's responsibility statement:
Pursuant to the provisions of Section 134(5) of the Companies Act, 2013, the board of
directors, to the best of their Knowledge and ability confirm and state that
I. In the preparation of the annual accounts, the applicable accounting standards have
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 loss of the company for that period;
III. 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;
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.
6.12 Internal Financial Controls:
The Company has an adequate system of internal control procedures which is commensurate
with the size and nature of business. Detailed procedural manuals are in place to ensure
that all the assets are safeguarded, protected against loss and all transactions are
authorized, recorded and reported correctly. The internal control systems of the Company
are monitored and evaluated by internal auditors and their audit reports are periodically
reviewed by the Audit Committee of the
Board of Directors. The observations and comments of the Audit Committee are also
generally placed before the Board. Some key features of the company's internal controls
systems have been provided in the Management discussion and Analysis Report as Annexure
V which being annexed to this report.
6.13 Frauds reported by the Auditor:
In pursuance to the Section 134(3)(ca) of the Companies Act, 2013 ("the
Act"), there has been no reported frauds being detected by the Auditor of the Company
in accordance with the Section 143(12) of the Act.
7. DISCLOSURES RELATING TO SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES:
The Company does not have any Subsidiary, Associates Company or Joint Venture.
8. DETAILS OF DEPOSITS:
The Company has not invited or accepted deposit within the meaning of section 73 of the
Companies Act, 2013 read with rules made there under, from the public neither does have
any unpaid or unclaimed deposits along with interest during the year. Further, the company
has not made any default in repayment of deposits or payment of interest thereon, as no
deposits have been invited or accepted by the Company during the year. Furthermore, there
are no such deposits which are not in compliance with the requirements of Chapter V of the
Act.
9. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:
The Details of loan, guarantees or investment as per section 186 of the Act are
provided in the notes to the financial Statement.
10. PARTICULARS OF CONTRACT OR ARRANGEMENT WITH RELATED PARTIES:
The company has not entered into Related Party Transaction referred during the year
under review.
11. CORPORATE SOCIAL RESPONSIBILITY (CSR) INITIATIVES:
Your company is not falling under the criteria mention as per Section 135 (1) of the
Companies Act, 2013 and the companies (Corporate Social Responsibilities) Rules, 2014.
Hence, the company has not developed and implemented any corporate Social Responsibilities
initiatives.
12. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND
OUTGO:
Conservation of Energy and Technology Absorption:
During the year under review, there are no manufacturing activities undertaken by the
company. However, the company has made necessary endeavor to conserver the non-renewable
resources and Energy and has taken utmost care to use the latest technology to conserve
the energy.
Foreign Exchange Earnings : Nil (PreviousYear:Nil) Foreign Exchange Expenditure : Nil
(Previous Year: Nil)
13. RISK MANAGEMENT:
Considering the present condition of the company the company has formulated the risk
management policy. The board is being regularly provided with information which may have
potential threat of risk as and when required.
14. DETAILS OF WHISTLE BLOWER POLICY & VIGIL MECHANISM:
The Company has established a "Whistle Blower and Vigil Mechanism Policy" for
Directors and employees to report the genuine concerns as per the provisions of Section
177 (9) of the Companies Act, 2013. However the Section is not applicable to the Company
but the company has formed the policy as a part of good governance and such policy is
available at company's website www.aromaenterprises.in.
15. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORY:
There have been no material changes and commitments, affecting the financial position
of the company which have occurred between the end of the financial year of the company to
which the financial statements relate and the date of the report. However, during the
period under review an order dated 11.07.2022 has been passed in the favour of the company
by the Office of the Commissioner Customs for the Refund of an amount of Rs. 3,27,06,882
for which the company was exempted to pay the duty amount.
16. AUDITORS:
Internal Auditor:
In pursuance to the provisions of Section 138 of the Companies Act, 2013, your Company
has appointed NMV& Associates, Chartered Accountants, to conduct internal audit of the
Company.
Statutory Auditor:
M/s. SDPM& Co Chartered Accountants (FRN: 126741W) had beenappointed as the
statutory auditor of the company at the 25th Annual General Meeting who shall
hold office for the term of 5 years till the conclusion of the 30th Annual
General Meeting of the company which is subject to ratification by members of the company
at every Annual General Meeting and that the board be and is authorized to fix such
remuneration as may be determined by audit committee in consultation with Auditor.
Cost audit report:
As per section 148 of the Companies Act, 2013 read with the Companies (Audit and
Auditors) Rules, 2014, company does not fall under the criteria mentioned in the Rules.
Secretarial Auditor:
Ms.Hetanshi Shah, Practicing Company Secretaries, has been appointed for the purpose of
conducting Secretarial Audit of the Company.
As the company have claimed exemption under the Regulation 15 of SEBI Listing
Obligation (Disclosure & Requirements) Regulations, 2015, for Corporate Governance the
provisions of Annual Secretarial Compliance Report as per circular dated 08th
February, 2019 is not applicable on the Company.
17. SECRETARIAL AUDIT REPORT:
The Secretarial Audit Report is appended to this report as "Annexure III".
18. EXPLANATIONS IN RESPONSE TO AUDITORS QUALIFICATIONS:
Explanation to the observations given in the Independent Audit report:
Management strongly differ with the view of the Auditor , due to slack market condition
of our product and Covid- pandemic Condition and lock down effect, the Company though
continuously trying to sale its products and making expenditure on employees salary ,
travelling conveyance , marketing etc.. Therefore the management of the Company is
strongly of the opinion that Company will be able to generate the business. Further the
management is of the opinion that the amount of Rs. 19,59,28,661/- given as advance for
purchase of material is fully recoverable and at present as the company is not able to
sale its products, the Company is not purchasing the material.
Explanation to the observations given in the Secretarial Audit report:
In respect of the first observation made in the Secretarial Audit Report, we would like
to justify the observation as follow, the company in order to have a fair constitution of
the Nomination and Remuneration Committee, as per Section 178 of the Companies Act, 2013
will appoint a non-executive director and adhere to the constitution.
In respect of the second and third observation made in the Secretarial Audit Report, we
would like to justify the observation as follow,the delay in submission of the
shareholding and reconciliation was as a reason of the blockage of benpose due to payment
issues which lead to unavailability of data in the required time period. However, the
company made its best endeavors to duly comply with the same.
In respect of the fourth and fifth observation made in the Secretarial Audit Report, we
would like to justify the observation as follow, the company will make its best efforts to
duly file the forms.
In respect of the sixth observation made in the Secretarial Audit Report, we would like
to justify the observation as follow, the company is in a financial constraint and as a
reason of which the company is unable to pay the said fees. . However, the company made
its best endeavors to duly comply with the same.
In respect of the seventh observation made in the Secretarial Audit Report, we would
like to justify the observation as follow, the company had entered into transaction with
Aroma Productions Private Limited in the ordinary course of business and for the same the
amount had been paid as an advance for supply of goods and hence the same to be considered
as a routine transaction in the ordinary course of business at the time of entering into
transaction. Also with the advent of time Aroma Productions Private Limited was not in
position to supply the goods neither it was in a position to repay the advance amount
instead of repeated reminders. Hence, at current date the same stands as Loan in the Books
of accounts of the company.
In respect of the eight observation made in the Secretarial Audit Report, we would like
to justify the observation as follow, the company will make its best endeavors to comply
with the same.
19. COMPLIANCE WITH SECRETARIAL STANDARDS:
The Board of Directors state that the company has complied with the applicable
Secretarial Standards issued by the Institute of Company Sectaries of India.
20. EXTRACT OF THE ANNUAL RETURN:
The Extract of Annual Return in Form MGT-9 as provided under Section 92 (3) of the
Companies Act, 2013 is annexed herewith as "Annexure II".
Web-link of Annual Return:
The Company is having website www.aromaenterprises.inand annual return of Company has
been published on such website.
21. CORPORATE GOVERNANCE REPORT:
As per the criteria mentioned in the Regulation 15 of SEBI Listing Obligation
(Disclosure & Requirements) Regulations, 2015, company is not falling under the same
and the company has claimed exemption from SEBI. Hence, company has not submitted
corporate governance report with the stock exchange for the period under review.
22. MANAGEMENT DISCUSSION & ANALYSIS REPORT:
The Management Discussion and Analysis Report as per the Regulation 34 of the SEBI
Listing Obligation (Disclosure & Requirements) Regulations, 2015 is part of the Annual
Report as " Annexure-IV".
23. EQUAL OPPORTUNITY EMPLOYER:
The Company has always provided a congenial atmosphere for work to all employees that
are free from discrimination and harassment including sexual harassment. It has provided
equal opportunities of employment to all without regard to their caste, religion, color,
marital status and sex. The Company has also framed a Policy on "Prevention of Sexual
Harassment" at the workplace. There were no cases reported under the said Policy
during the year.
24. LISTING AT STOCK EXCHANGES:
The Equity shares of your company are listed on BSE (Bombay Stock Exchange). The
Listing fees for the Year 2021 2022 and 2022-2023 is pending for payment to the Stock
Exchanges.
25. DISCLOSURE OF TRANSACTIONS OF COMPANY WITH PROMOTER/ PROMOTER GROUP:
There are no such transactions which have been undertaken by the company with the
promoter / promoter group for the financial year 2022-2023.
26. DISCLOSURE OF DEMAT SUSPENSE ACCOUNT / UNCLAIMED SUSPENSE ACCOUNT
With the advent of the new Securities & Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015, the listed entities are
required to make disclosure in the Annual Report about the details of share in Demat
Suspense Account / Unclaimed Suspense Account. The details of the same is mentioned below:
| Aggregate number of shareholders and the outstanding shares in the Suspense Account
lying at the beginning of the year |
NIL |
| Number of shareholders who approached listed entity for transfer of shares from
suspense account during the year |
NIL |
| Number of shareholders to whom shares were transferred from suspense account during
the year |
Nil |
| Aggregate number of shareholders and the outstanding shares in the suspense account
lying at the end of the year |
Nil |
| The voting rights on these shares shall remain frozen till the rightful owner of such
shares claims the shares |
Not Applicable |
27. APPRECIATION:
Your Directors place on record their appreciation and gratitude for the excellent
support the Company has received from its workers, employees, customers, vendors and
shareholders. They also express their sincere thanks to the Bankers and various State
Governments for the valuable support extended to the Company.
28.THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR ALONGWITH THEIR STATUS AS AT THE END OF
THE FINANCIAL YEAR:
There was no application or any proceedings going on during the year under Insolvency
and Bankruptcy code 2016.
|
For, Aroma Enterprises (India) Limited |
| Date: 05.09.2023 |
SD/- |
SD/- |
| Place: Ahmedabad |
Mr.Snehal Patel |
Mr.ChiragRawal |
|
Managing Director |
Director |
|
DIN: 03097321 |
DIN : 06560139 |
