To
The Members
Your directors hereby present the 39 th Annual Report together with Audited Accounts of
the Company for the year ended 31 st March, 2025.
FINANCIAL SUMMARY OR PERFORMANCE OF THE COMPANY
|
Rs. in Lacs |
| FINANCIAL RESULTS |
YEAR ENDED |
YEAR ENDED |
|
31.03.2025 |
31.03.2024 |
| Revenue from operations |
939.09 |
812.39 |
| Other Income |
6.98 |
7.96 |
| Total Revenue from operations |
946.06 |
820.35 |
|
195.52 |
126.31 |
| Profit before Financial Expenses, Depreciation and Taxation |
|
|
|
0.00 |
0.00 |
| Add: Exceptional Item |
|
|
|
195.52 |
126.31 |
| Profit after Exceptional Item |
|
|
|
26.60 |
6.46 |
| Less: Financial expenses |
|
|
|
222.12 |
119.85 |
| Operating profit before Depreciation & Taxation |
|
|
|
141.74 |
92.39 |
| Less: Depreciation |
|
|
|
27.18 |
27.46 |
| Profit before Tax |
|
|
| Current Year |
11.22 |
8.33 |
| Less: Tax expenses |
|
|
| Deferred Tax Assets (Net) |
-04.39 |
-46.51 |
|
20.35 |
65.64 |
| Profit after Taxation |
|
|
OPERATIONS
The Company ' s total revenue is Rs. 946.06 lacs for the year ended March 31, 2025 as
against Rs. 820.35 lacs for the year ended March 31, 2024. The Company ' s profit after
tax is Rs. 20.35 lacs for the year ended March 31, 2025, as compared to the profit of Rs.
65.64 lacs for the year ended March 31, 2024.
DIVIDEND
The Board of Directors of the Company recommends a Dividend of Re. 1/- (Rupee One only)
per equity share of Rs.10/- (Rupees ten only) each for the year ended 31 st March, 2025,
for the approval of the shareholders at the forthcoming Annual General Meeting of the
Company.
TRANSFER TO GENERAL RESERVE:
No transfers to reserves were done, as no appropriations were made during the Financial
Year under review.
CHANGE IN NATURE OF BUSINESS:
There is no change in the nature of the business during the year under review.
MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE
COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENTS
RELATE AND THE DATE OF THE REPORT
No material changes and commitments affecting the financial position of the Company
occurred between the end of the financial year to which these financial statements relate
and the date of this report.
TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND
Section 124 of the Companies Act, 2013, read with Investor Education and Protection
Fund Authority (Accounting,
Audit, Transfer and Refund) Rules, 2016 ( " the Rules " ), as amended,
mandate the companies to transfer the dividend that has remained unclaimed/un-encashed for
a period of seven years from the unpaid dividend account to the Investor Education and
Protection Fund (IEPF). Further, the Rules also mandate that the shares on which dividend
has not been claimed or encashed for seven consecutive years or more be transferred to the
IEPF.
The following table provides a list of years for which unclaimed dividends and their
corresponding shares would become eligible to be transferred to the IEPF on the dates
mentioned below:
| Year |
Type of dividend |
Dividend per share (In .) |
Date of declaration |
Due date for transfer to IEPF |
| 2022-23 |
Final |
1.00 |
September 20, 2023 |
October 19, 2030 |
| 2023-24 |
Final |
1.00 |
September 28, 2024 |
October 27, 2031 |
MEETINGS OF THE BOARD OF DIRECTORS:
The Board of Directors met during the year under review as follows:
| Date |
No. of Directors present |
| 30/05/2024 |
4 |
| 13/08/2024 |
4 |
| 14/11/2024 |
4 |
| 14/02/2025 |
4 |
INDEPENDENT DIRECTORS' MEETING
During the year under review, the Independent Directors met on 13 th August, 2024 and
14 th February, 2025.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE
COMPANIES ACT, 2013
There was no loan, guarantee or investment made by the Company under Section 186 of the
Companies Act, 2013 during the year under review and hence the said provision is not
applicable.
DEPOSITS
During the year under review, the Company did not accept any deposits from the public.
RELATED PARTY TRANSACTION:
All the related party transactions entered into during the financial year were at arm '
s length basis and were in the ordinary course of business. There is no conflict of
interest and none of these transactions have any possibility of being detrimental to the
interests of the Company. Your Company had not entered into any transactions with related
parties which are specified under clauses (a) to (g) of Section 188(1) of the Companies
Act, 2013or could be considered material in terms of Section 188 of the Companies Act,
2013. Accordingly, the disclosure of related party transactions as required under Section
134(3)(h) of the Companies Act, 2013 in Form AOC 2 is not applicable. STATEMENT
CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE COMPANY
As per Regulation 15(2) of Chapter IV of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015 the requirements
regarding Risk Management Committee/ Policy do not apply to your Company. However, the
Directors oversee these matters.
DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL
RESPONSIBILITY INITIATIVES
Your Company has not developed and implemented any Corporate Social Responsibility
initiatives as the said provisions are not applicable.
MANAGEMENT DISCUSSION AND ANALYSIS AND CORPORATE GOVERNANCE REPORT
The Management Discussion and Analysis is provided later and forms part of this Annual
Report.
As per Regulation 15(2) of Chapter IV of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015 the requirements
regarding disclosures with respect to Corporate Governance and the Declaration signed by
the chief executive officer stating that the members of board of directors and senior
management personnel have affirmed compliance with the code of conduct of board of
directors and senior management and the Compliance certificate from either the auditors or
practicing company secretaries regarding compliance of conditions of corporate governance
to be annexed with the directors ' report do not apply to your Company.
However, a separate report on Corporate Governance is furnished pursuant to the Company
' s desire to continue to follow proper Corporate Governance policies.
EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR
DISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS
There was no qualification, reservation or adverse remark made by the Statutory
Auditors and/or the Secretarial Auditor in their respective reports.
COMPANY?fS POLICY RELATING TO DIRECTORS APPOINTMENT, REMUNERATION AND
DISCHARGE OF
THEIR DUTIES
The Nomination and Remuneration Committee of the Company constituted as per provisions
of Section 178(1) of the Companies Act, 2013 oversees matters relating to the same.
EXTRACT OF ANNUAL RETURN
Pursuant to Section 92(3) read with 134(3)(a) of the Companies Act, 2013 and proviso to
rule 12(1) of the Companies (Management and Administration) Rules, 2014, the Annual Return
as on 31 st March 2025 is available at the Company ' s website at
http://cindrellahotelsltd.com
DIRECTORS& KEY MANAGERIAL PERSONNEL
Smt. Sangita Devi Baid (DIN 00359298), upon the attainment of 75 years of age, is to
retire from office as Non-executive Director of the Company and does not wish to seek
further re-appointment at the forthcoming Annual General Meeting (AGM). In view of the
above, Smt. Venus Baid (DIN 05172764) is proposed to be appointed as Non-executive
Director, liable to retire by rotation, on the Board of Directors of the Company, at the
forthcoming AGM. A proposal for her appointment has been received from one of the
shareholders of the Company. As per Regulation 15(2) of Chapter IV of the Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015, the provisions regarding the composition of the Board of Directors and the
constitution and composition of various Committees of the Board inter alia do not apply to
your Company. However, the Company complies with the provisions of the Companies Act, 2013
in this regard. The Independent Directors have given declarations to the Company regarding
fulfillment of criteria of independence as required under the Companies Act, 2013 and the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
OTHER BOARD AND MANAGEMENT MATTERS
Particulars relating to company ' s policy on directors ' appointment and remuneration
including criteria for determining qualifications, positive attributes, independence of a
director and other matters provided under sub-section ( 3 ) of section 178 and
those indicating the manner in which formal annual evaluation has been made by the Board
of its own performance and that of its committees and individual directors and details of
the various committees of the Board are given in the Corporate Governance Report and forms
part of this report. None of the Directors are in receipt of any remuneration from the
Company.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The company ' s internal control systems are commensurate with the nature of its
business and the operations.
SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES
The Company does not have any Associates, Subsidiaries and Joint Ventures.
AUDITORS
The Statutory Auditors of the Company M/s Agarwal Mahesh Kumar & Co., Chartered
Accountants(FRN: 319154E) who were appointed at the AGM held in 2022 for a term of 5 years
to hold office up to the conclusion of the Annual General Meeting for the year ended
31.03.2027 shall continue in office as Statutory Auditors of the Company. The notes on
account referred to in the Auditor's Report are self explanatory and therefore do not call
for any further comments u/s 134 of the Companies Act, 2013.
DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE AND PROVIDING VIGIL MECHANISM
The particulars in respect of the above are furnished in the Corporate Governance
Report below.
SECRETARIAL AUDITOR
The Board has appointed Sri Somnath Ganguly, Company Secretary in Whole-time Practice
under the provisions of section 204 of the Companies Act, 2013 and the Rules made
thereunder to carry out the Secretarial Audit for the year ended 31 st March, 2025. The
report of the Secretarial Auditor is attached to and forms part of this report. Based upon
the recommendation of the Audit Committee and the Board, Sri Somnath Ganguly, Company
Secretary in Whole-time Practice(ACS: 12702 / COP NO.: 4663; PEER REVIEW CERT NO.:
3972/2023) is proposed to be further appointed, as Secretarial Auditor, for a period of 5
years commencing from the financial year 01.04.2025 up to 31.03.2030, subject to the
approval of the shareholders at the forthcoming AGM.
SECRETARIAL STANDARDS
During the year under review, the Company has complied with applicable Secretarial
Standards.
PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES
In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3)
of the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014,
none of the employees are in receipt of the remuneration which is in excess of the limits
as specified in the regulation. Disclosures pertaining to remuneration and other details
as required under Section 197(12) read with Rule 5(1) of Companies (Appointment &
Remuneration of Managerial Personnel) Rules, 2014 are enclosed with this report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
Your Company remains committed to increasing energy-efficiency and environment
conservation and protection and strives to implement power saving and emission control
measures in all spheres of activity. There was no foreign exchange inflow or Outflow
during the year under review.
GENERAL
Your Directors state that no disclosure or reporting is required in respect of the
following items as there were no transactions on these items during the year under review:
1. Details relating to deposits covered under Chapter V of the Act. 2. Issue of equity
shares with differential rights as to dividend, voting or otherwise.
3. Issue of shares (including sweat equity shares) to employees of the Company under
any scheme and ESOS referred to in this Report.
4. No significant or material orders were passed by the Regulators or Courts or
Tribunals which impact the going concern status and Company ' s operations in future.
PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE
Your Directors further state that during the year under review there were no complaints
related to sexual harassment received by its Internal Complaints Committee, constituted
pursuant tothe requirements of Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013, which is responsible for redressal of complaints
related to sexual harassment.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirements under Section 134(5) of the Companies Act, 2013, with
respect to the Directors ' Responsibilities Statement, it is hereby confirmed that; i) in
the preparation of the annual accounts for the financial year ended March 31, 2025, the
applicable Accounting Standards have been followed along with proper explanations 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 as at March 31,
2025and of the profit or loss of the Company for the said period; iii) that the directors
had taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of
the Company and for preventing and detecting fraud and other irregularities; iv) the
directors had prepared the annual accounts for the financial year ended March 31, 2025 on
a " going concern " basis; v) they have laid down internal financial controls in
the company that are adequate and were operating effectively and vi) they have devised
proper systems to ensure compliance with the provisions of all applicable laws and these
are adequate and are operating effectively.
ACKNOWLEDGEMENT:
Your Directors acknowledge the co-operation extended by the various Government
Authorities, Bankers, Business Associates, Members and Guests. Your Directors also place
on record their sincere appreciation of the services rendered by the employees at all
levels.
|
For & on behalf of the Board |
|
Smt Sangita Devi Baid |
|
Chairman |
|
(DIN 00359298) |
|
Sri Vivek Baid |
|
Managing Director |
|
(DIN-00437542) |
| Place: Siliguri; Dated: 13 th August 2025. |
|
| Registered Office: |
|
| 9, Mangoe Lane, 3 rd Floor, Kolkata-700001. |
|
