To,
The Members,
Rekvina Laboratories Limited
Your Directors have pleasure in presenting their 36th Annual Report together
with the Audited Financial Statements of the Company for the Year ended 31st
March 2024.
FINANCIAL SUMMARY AND PERFORMANCE OF THE COMPANY
Particulars |
2023-24 |
2022-23 |
Sales Turnover |
0 |
0 |
Other Income |
0 |
0.38 |
Total Income |
0 |
0.38 |
Total Expenditure |
1.64 |
0.45 |
Profit before Depreciation |
(1.64) |
(0.45) |
Less: Deprecation |
0 |
0 |
Profit after depreciation, Interest and other Expenses |
(1.64) |
(0.45) |
Less: Taxes(Including Deferred Tax) |
0 |
0 |
Net Profit after Tax before dividend |
(1.64) |
(0.45) |
Dividend(Including Interim, if any, and final) |
0 |
0 |
Net profit after dividend and Tax |
(1.64) |
(0.45) |
RESULTS OF OPERATIONS AND THE STATE OF COMPANY’S AFFAIRS:
During the year under review, the revenue of the company from operations is Rs. Nil and
it was attributed to an overall slowdown in the economy. The Board of Directors is making
all efforts for the better opportunities of the company.
PERFORMANCE REVIEW:
The Company has incurred loss during the financial year ended 31st March,
2024. Your Directors are making all efforts to improve the performance of the Company in
future.
SHARE CAPITAL
Company has an Authorized Share Capital of Rs. 3,50,00,000 (Rupees Three Crore Fifty
lakhs only), divided into 70,00,000 (Seventy Lakhs) Equity Shares of INR 5/- each. The
Paid-up Share Capital of Rs. 3,01,40,000 (Rupees Three Crore One Lakh Forty Thousand
only), divided into 60,28,000 (Sixty Lakh Twenty-Eight Thousand) equity shares of face
value of INR 5/- each. No changes have occurred in the current financial year as compared
to the last financial year 2022-2023.
CHANGES IN SHARE CAPITAL, IF ANY
There has been no Change in the Share Capital of the Company during the financial year
under review.
a) Buy Back of securities: The Company has not bought back its shares /securities
during the year under review.
b) Sweat Equity: No Sweat Equity Shares are issued during the year under review.
c) Bonus Shares: No Bonus Shares were issued during the year under review.
d) Employees Stock Option Plan: The Company has not provided any Stock Option Scheme to
the employees.
DIVIDEND
As the Company has incurred loss during the current financial year, thus, the Board of
Directors of the Company do not recommend any dividend for this financial year.
TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND
The provisions of Section 125(2) of the Companies Act, 2013 do not apply as there was
no dividend declared and paid last year.
CHANGES IN NATURE OF BUSINESS, IF ANY
There was no change in the nature of business during the financial year 2023-24.
TRANSFER TO GENERAL RESERVE
During the financial Year under review, losses incurred by the company were adjusted
with the Revenue and Surplus account.
EMPLOYEE STOCK OPTION SCHEME
The Company has not provided any Employee Stock Option Scheme to its employees. The
Company has not issued equity share with differential rights as to dividend, voting or
otherwise.
INFORMATION ABOUT SUBSIDIARY/ JV/ ASSOCIATE COMPANY
Company does not have any Subsidiary, Joint venture or Associate Company.
CHANGES TN THE NATURE OF BUSINESS:
During the Financial Year 2023-24, there had been no change in the nature of the
business of the Company.
EXTRACT OF ANNUAL RETURN:
An extract of Annual Return for the year ended March 31, 2024, as prescribed in Section
92(3) of the Companies Act, 2013 read with Rule 12 of the Companies (Management and
Administration) Rules, 2014, is available on the website of the Company on the following
link: https://www.rekvinalaboratories.com/
FRAUDS REPORTED BY AUDITORS UNDER SECTION 143:
There have been no instances of fraud reported by the Statutory Auditors under Section
143 of the Act read with relevant Rules framed thereunder either to the Company or to the
Central Government.
DISCLOSURE REGARDING ISSUE OF EQUITY SHARES WITH DIFFERENTIAL RIGHTS, EMPLOYEE STOCK
OPTIONS & SWEAT EQUITY SHARES.
The Company has not issued any equity shares with differential voting rights or
employee stock options or sweat equity shares.
BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
(A) THE CURRENT COMPOSITION OF BOARD OF DIRECTORS AS ON DATE IS AS FOLLOWS:
As on 31st March, 2024, the Board of your Company consists of Five Directors
as follows:
S. No. |
DIN Number |
Name of Directors |
Appointment of Directors |
Designation |
1. |
03157373 |
Vibha Mukesh Shah |
21/03/2015 |
Independent Director |
2. |
01993130 |
Mukesh Jamnadas Shah |
02/10/1997 |
Director |
3. |
01993211 |
Amit Mukesh Shah |
01/08/2000 |
Director |
4. |
05114700 |
Mahendra Shantilal Dalal |
01/10/2010 |
Additional Director |
5. |
05114743 |
Jitendra Laljibhai Doshi |
01/10/2010 |
Additional Director |
6. |
06814823 |
Bhavesh Prabhudas Vora |
14/11/2022 |
Independent Director |
All the Directors are having vast knowledge and experience in their relevant fields and
the Company had benefitted immensely by their presence in the Board.
(B) CHANGE IN DIRECTORS AND KEY MANAGERIAL PERSONNEL:
During the year under review, there was no change in Board of Directors. However, after
the closure of this financial year the following changes are made in the composition of
Board of Directors and KMP:
DIN/PAN |
Name of Directors |
Date of Appointment/Cessation/C hange in
designation |
Designation |
03157373 |
Vibha Mukesh Shah |
22/05/2024 |
Independent Director |
05114700 |
Mahendra Shantilal Dalal |
30/09/2011 |
Additional Director |
05114743 |
Jitendra Laljibhai Doshi |
30/09/2011 |
Additional Director |
10518738 |
Nilesh Harkesh Yadav |
22/05/2024 |
Additional Independent Director |
10017258 |
Jaishree Babulal Jain |
05/08/2024 |
Additional Woman Director |
NA |
Pravin Chauhan |
22/05/2024 |
Chief Financial Officer |
01993211 |
Amit Mukesh Shah |
22/05/2024 |
Managing Director |
NA |
Srishty Bansal |
11/06/2024 |
Company Secretary & Compliance Officer |
01993130 |
Mukesh Jamnadas Shah |
Demise on 18/06/2024 |
Director |
(C) RETIRE BY ROTATION
In terms of the provisions of Section 152 of the Companies Act, 2013, Mr. Amit Mukesh
Shah (DIN: 01993211), is liable to retire by rotation at the Annual General Meeting of the
Company and on being eligible offers himself for re-appointment as Director of the
Company.
(D) BOARDS’ INDEPENDENCE
The definition of ‘Independence’ of Directors is derived from Section 149(6)
of the Companies Act, 2013. A declaration has been received from the following
Non-Executive Directors confirming their Independence in terms of Listing Regulations,
2015 and Section 149(6) of the Companies Act, 2013 :-
1. Mrs. Vibha Mukesh Shah (DIN: 03157373)
2. Mr. Jitendra Laljibhai Doshi (DIN: 05114743)
(E) BOARD MEETINGS
The Board of Directors of the Company met 5 times during the financial year i.e. from
April 1, 2023 to March 31, 2024. The necessary quorum was present for all the Board
Meetings. The maximum time gap between any of two consecutive meetings did not exceed one
hundred and twenty days.
The notice and detailed agenda and other material information are sent in advance to
enable the Board to discharge its responsibilities effectively and take informed
decisions.
Date of Meeting |
Board Strength |
No. of Directors Present |
03.05.2023 |
5 |
5 |
30.05.2023 |
5 |
5 |
11.08.2023 |
5 |
5 |
09.11.2023 |
5 |
5 |
12.02.2024 |
5 |
5 |
ATTENDANCE OF DIRECTORS TN THE BOARD MEETING
Name of the Director |
No. of Meeting Attended |
Mrs. Vibha Mukesh Shah |
5 |
Mr. Mukesh Jamnadas Shah |
5 |
Mr. Amit Mukesh Shah |
5 |
Mr. Mahendra Shantilal Dalal |
5 |
Mr. Jitendra Laljibhai Doshi |
5 |
Mr. Bhavesh Prabhudas Vora |
5 |
(F) BOARD COMMITTEES
With a view to have a more focused attention on business and for better governance and
accountability, the Board has constituted the various committees. The Board Committees
meet at regular intervals and take necessary steps to perform its duties entrusted by the
Board. The terms of reference of these Committees are determined by the Board and their
relevance reviewed from time to time. The Minutes of the Committee Meetings are sent to
all Directors and tabled at the Board Meetings.
Currently, the Board has following committees:
• Audit Committee;
• Nomination & Remuneration Committee;
• Stakeholder Relationship Committee;
I. AUDIT COMMITTEE
The Audit Committee is constituted in accordance with the provisions of Section 177 of
the Companies Act, 2013 and the provisions of Regulation 18 of the Listing Regulation. The
Committee comprises of members who possess financial and accounting expertise/exposure.
(i) COMPOSITION
The Committee’s composition is in compliance with provisions of Section 177 of the
Companies Act, 2013 and Regulation 18 of the Listing Regulations.
The Audit Committee comprises of the following 3 Directors:
Name of the Director |
Position & Category |
Mr. Bhavesh Prabhudas Vora |
Chairman & Independent Director |
Mr. Jitendra Laljibhai Doshi |
Member & Independent Director |
Mr. Mahendra Shantilal Dalal |
Member & Executive Director |
(ii) MEETINGS & ATTENDANCE OF DIRECTORS
The Audit Committee met four times during the Financial Year 2023-24 on 30.05.2023,
11.08.2023, 09.11.2023, 12.02.2024. The necessary quorum was present for all Meetings. The
details of attendance of the members of the Committee at the said meetings are as below:
Name of the Director |
Number of Meetings Held during the year |
Number of Meetings Attended |
Mr. Bhavesh Prabhudas Vora |
4 |
4 |
Mr. Jitendra Laljibhai Doshi |
4 |
4 |
Mr. Mahendra Shantilal Dalal |
4 |
4 |
It can be seen from the above details that the frequency of the Committee Meetings was
more than the minimum limit prescribed under applicable regulatory requirements and the
gap between two Committee Meetings was not more than one hundred and twenty days.
II. NOMINATION & REMUNERATION COMMITTEE
The Nomination and Remuneration Committee is constituted in accordance with the
provisions of Section 178 of the Companies Act, 2013 and the provisions of Regulation 19
of the Listing Regulation.
(i) COMPOSITION
The Committee’s composition is in compliance with provisions of Section 178 of the
Companies Act, 2013 and Regulation 19 of the Listing Regulations.
The Nomination & Remuneration Committee comprises of the following 3 Directors:
Name of the Director |
Position & Category |
Mr. Bhavesh Prabhudas Vora |
Chairman & Independent Director |
Mr. Jitendra Laljibhai Doshi |
Member & Independent Director |
Mr. Mahendra Shantilal Dalal |
Member & Executive Director |
(ii) MEETINGS & ATTENDANCE OF DIRECTORS
The Nomination & Remuneration Committee met One time during the Financial Year
2023-24 on 03.05.2203. The necessary quorum was present for all Meetings. The details of
attendance of the members of the Committee at the said meetings are as below:
Name of the Director |
Number of Meetings Held during the year |
Number of Meetings Attended |
Mr. Bhavesh Prabhudas Vora |
1 |
1 |
Mr. Jitendra Laljibhai Doshi |
1 |
1 |
Mr. Mahendra Shantilal Dalal |
1 |
1 |
It can be seen from the above details that the frequency of the Committee Meetings was
more than the minimum limit prescribed under applicable regulatory requirements and the
gap between two Committee Meetings was not more than one hundred and twenty days.
III. STAKEHOLDER RELATIONSHIP COMMITTEE
The Stakeholder Relationship Committee is constituted in accordance with the provisions
of Section 178 of the Companies Act, 2013 and the provisions of Regulation 20 of the
Listing Regulation.
Name of the Director |
Position & Category |
Mr. Jitendra Laljibhai Doshi |
Chairman & Independent Director |
Mr. Bhavesh Prabhudas Vora |
Member & Independent Director |
Mr. Mahendra Shantilal Dalal |
Member & Executive Director |
(i) COMPOSITION
The Committee’s composition is in compliance with provisions of Section 178 of the
Companies Act, 2013 and Regulation 20 of the Listing Regulations.
The Stakeholder Relationship Committee comprises of the following 3 Directors:
(ii) MEETINGS & ATTENDANCE OF DIRECTORS
The Stakeholder Relationship Committee met four times during the Financial Year 2023-24
on 05.04.2023, 13.07.2023, 09.10.2023, 16.01.2024, and. The necessary quorum was present
for all Meetings. The details of attendance of the members of the Committee at the said
meetings are as below:
Name of the Director |
Number of Meetings Held during the year |
Number of Meetings Attended |
Mr. Jitendra Laljibhai Doshi |
4 |
4 |
Mr. Bhavesh Prabhudas Vora |
4 |
4 |
Mr. Mahendra Shantilal Dalal |
4 |
4 |
It can be seen from the above details that the frequency of the Committee Meetings was
more than the minimum limit prescribed under applicable regulatory requirements and the
gap between two Committee Meetings was not more than one hundred and twenty days.
DECLARATION BY INDEPENDENT DIRECTORS
The Independent Directors have given the declaration that, they meet the criteria of
independence as provided in Section 149(6) of the Companies Act, 2013 read with Rules made
thereunder and Clause (6) of sub-regulation (i) of Regulation 16 of SEBI (LODR) Regulation
2015.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
As per the provisions of Section 186 of the Companies Act, 2013, details regarding
Loans, Guarantees and Investments are given in the notes to the Financial Statements.
RELATED PARTY TRANSACTION
Your Company has formulated the policy on materiality of related party transactions and
dealing with related party transactions. All contracts/arrangements/transactions entered
by the Company during the financial year with related parties were in the ordinary course
of business and on arm's length basis.
MATERIAL CHANGES AND COMMITMENTS
There have been no material changes which have occurred between the end of financial
year till the date of this report, affecting the financial position of the Company.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE AS PER SECTION 134 (3)
(m) OF THE COMPANIES ACT, 2013
Conservation of Energy: Since the Company is not engaged in any manufacturing activity,
issues relating to conservation of energy and technology absorption are not quite relevant
to its functioning.
Technology absorption: The Company has not imported any technology. Hence, the
particulars with respect to efforts made towards technology absorption and benefits
derived etc. are not applicable to the Company.
Export Activities: There was no export activity in the Company during the year under
review. The Company is not planning any export in the near future as well.
Foreign Exchange Earnings and Outgo: There was no Foreign Exchange earnings and outgo
during the year under review.
VIGIL MECHANISM POLICY
Pursuant to Section 177 of the Companies Act, 2013 and Regulation 22 of SEBI Listing
Regulations, your Company has established a mechanism called ‘Vigil Mechanism
(Whistle Blower Policy) for Directors, employees and Stakeholders of the Company to report
to the appropriate authorities about unethical behavior, actual or suspected, fraud or
violation of the Company’s code of conduct or ethics policy and provides safeguards
against victimization of employees who avail the mechanism.
The Whistle Blower can directly approach the Chairperson of the Audit Committee of the
Company and make protective disclosures about the unethical behaviour, actual or suspected
fraud or violation of the Company's Code of Conduct in exceptional circumstances.
RISK MANAGEMENT
The Company has a robust Risk Management framework to identify, measure and mitigate
business risks and opportunities. This framework seeks to create transparency, minimize
adverse impact on the business objective and enhance the Company’s competitive
advantage. This risk framework thus helps in managing market, credit and operations risks
and quantifies exposure and potential impact at a Company level.
REMUNERATION POLICY
The Board, on recommendation of the NRC, has framed a remuneration policy. The policy,
inter alia, provides (a) the criteria for determining qualifications, positive attributes
and independence of directors and (b) policy on remuneration of directors, key managerial
personnel and other employees. The policy is directed towards a compensation philosophy
and structure that will reward and retain talent and provides for a balance between fixed
and incentive pay reflecting short and long-term performance objectives appropriate to the
working of the Company and its goals.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
There are no significant material orders passed by the Regulators / Courts which would
impact the going concern status of the Company and its future operations.
INTERNAL CONTROL SYSTEM
The Company has an internal control system commensurate with the scale, size and the
operation of the organization. It evaluates the adequacy of all internal controls and
processes, and ensures strict adherence to clearly laid down processes and procedures as
well as to the prescribed regulatory and legal framework.
PUBLIC DEPOSITS
Your Company did not accept any deposits from public in terms of the provisions of
Section 73 of the Companies act, 2013 and the Companies (Acceptance of Deposits) Rules,
2014 for the financial year 2019-20.
AUDITORS
According to Section 139 and other relevant provisions of the Companies Act, 2013, M/s
Jigar Adhyaru & Co., Chartered Accountants (firm registration number 142223W) ceased
to be the statutory auditors of the Company after completing two consecutive 5-year terms
at the Annual General Meeting held in 2024-25.
Subsequently, M/s. TDK & Co. (firm registration number 109804W) were appointed as
the statutory auditors of the company at the Annual General Meeting held on [insert date],
for a period of 5 years.
AUDITORS’ REPORT
Report of the Statutory Auditors on Annual Financial Statements along with schedules
and notes to accounts thereto, for the year ended on 31st March, 2024 is
self-explanatory and contains no adverse remark and do not call for any comments.
EXPLANATION TO AUDITOR’S REMARKS
The comments on the Auditor’s Report are self-explanatory, thus, no explanation is
required to be given. ANNUAL EVALUATION
Pursuant to the provisions of the Companies Act, 2013, the Board has carried out an
annual performance evaluation of its own performance, the directors individually as well
as the valuation of the working of its Audit, Nomination & Remuneration and Compliance
Committees.
A structured questionnaire was prepared after taking into consideration inputs received
from the Directors, covering various aspects of the Board’s functioning such as
adequacy of the composition of the Board and its Committees, Board culture, execution and
performance of specific duties, obligations and governance.
INTERNAL FINANCIAL CONTROL
Your Company has put in place adequate internal financial controls with reference to
the financial statements, some of which are outlined below:
Your Company has adopted accounting policies which are in line with the Accounting
Standards prescribed in the Companies (Accounting Standards) Rules, 2006 that continue to
apply under Section 133 and other applicable provisions, if any, of the Companies Act,
2013 read with Rule 7 of the Companies (Accounts) Rules, 2014. These are in accordance
with generally accepted accounting principles in India.
Pursuant to Section 138 of the Companies Act, 2013 read with rule 13 of the Companies
(Accounts) Rules, 2014, Company has appointed the Internal Auditor for Financial Year
2023-24.
Changes in policies, if any, are approved by the Audit Committee in consultation with
the Auditors.
CORPORATE GOVERNANCE
As per Regulation 15 of the SEBI (Listing Regulations and Disclosure Obligations
Requirements) Regulations, 2015, the provisions of Chapter IV of the said Listing
Regulations, 2015, the Compliance with the corporate governance provisions as specified in
Regulations 17, [17A,] 18, 19, 20, 21,22, 23, 24, 24A, 25, 26, 27and clauses (b) to (i) of
sub 23 regulation (2) of Regulation 46 and para C, D and E of Schedule V shall not be
mandatory, for the time being, in respect of the following class of companies:
• The listed entity having Paid up Equity Share Capital not exceeding Rs.10 Crore
and Net Worth not exceeding Rs. 25 Crore, as on the last day of the previous financial
year.
• Listed entity which has listed its specified securities on the SME Exchange.
SECRETARIAL AUDITOR AND THEIR REPORT
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Rules made
thereunder M/s Anuj Gupta & Associates, Practicing Company Secretaries was appointed
to conduct the secretarial audit for the financial year 2023-24. The Secretarial Audit
Report in MR-3, submitted by the Secretarial Auditor for the FY 2023 - 2024 is annexed to
Directors’ Report.
BOARD’S RESPONSES TO OBSERVATIONS/QUALIFICATIONS IN SECRETARIAL AUDIT REPORT
The Board’s responses to the qualifications and other observations are as follows:
The Secretarial Auditors have submitted their report in form No. MR-3 and qualified
their opinion/observations in respect of the Secretarial Audit conducted for the financial
year 2023-2024 and the Board’s responses are given w.r.t. qualification/ observation
as follows:
Due to lack of financial sources, the Company was unable to proceed with Compliances
w.r.t. Stock exchange and other authorities. However, the management ensures to do all the
compliance in future.
COMPLIANCE OF SECRETARIAL STANDARDS
The Company has complied with the Secretarial Standard 1 (SS-1) relating to the
meetings of the Board of Directors and Secretarial Standard 2 (SS-2) relating to the
General meetings issued by the Institute of Company Secretarial of India and approved by
the Central Government.
PARTICULARS OF EMPLOYEES
(A) The ratio of the remuneration of each director to the median employee’s
remuneration and other details in terms of sub-section 12 of Section 197 of the Companies
Act, 2013 read with Rule 5(1) of the Companies (Appointment and remuneration of Managerial
Personnel) Rules, 2014, are forming part of this report and is annexed to this Report.
(B) The statement containing particulars of employees as required under Section 197(12)
of the Companies Act, 2013 read with Rule 5(1) and Rule 5 (3) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, forms part of this
report. In terms of Section 136 of the Companies Act, 2013 the same is open for inspection
at the Registered Office of the Company. Copies of this statement may be obtained by the
members by writing to the Company Secretary.
(C) There are no employees employed throughout the financial year in receipt of
remuneration of one crore and two lakh rupees or more, or employed for part of the year in
receipt of eight lakh and fifty thousand rupees per month or more, to be reported under
Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
AND REDRESSAL) ACT, 2013
Your Company has zero tolerance for sexual harassment at workplace and has set up
Committee for safety of women employees at workplace. During the year Company has not
received any complaint of harassment.
MANAGEMENT DISCUSSION & ANALYSIS REPORT
As stipulated under Regulation 34 read with Part B of Schedule V of SEBI (LODR)
Regulations, 2015, the details pertaining to Internal Financial Control systems and their
adequacy have been disclosed in the Management Discussion and Analysis Report forming part
of this Annual Report.
COST AUDIT
Cost Audit specified under Section 148 of the Companies Act, 2013 does not apply to the
Company since the turnover of the Company is less than the limit prescribed.
LISTING
The equity shares of the Company are listed with Bombay Stock Exchange with Scrip Code
No. 526075.
SUSPENSION OF TRADING IN SHARES OF THE COMPANY
The Equity Shares of your Company are presently listed on Bombay Stock Exchange (BSE).
The Company is suspended from trading in the shares of the Company on BSE due to non-
compliance with the provision of SEBI (Listing Obligation and Disclosure Requirements)
Regulations, 2015 and your directors are taking necessary steps for complying with the
procedure and all extant norms prescribed for revocation of suspension.
THE CORPORATE SOCIAL RESPONSIBILITY
As the provisions relating to the Corporate Social Responsibility (CSR) as prescribed
u/s. 135 of the Companies Act, 2013 along with Rules made thereunder are not applicable to
our Company and therefore, neither the CSR Committee nor the CSR Policy are required to be
framed by the Company.
GREEN INITIATIVES
Electronic copies of the Annual Report 2023-24 and the Notice of the AGM are sent to
all members whose email addresses are registered with the Company / depository
participants. For members who have not registered their email addresses, physical copies
are sent in the permitted mode.
BUSINESS RESPONSIBILITY REPORT
SEBI has mandated the top 100 listed entities, based on market capitalization, to
include Business Responsibility Report (BRR) as part of the Annual Report describing the
initiatives taken by the companies from Environmental, Social and Governance perspective.
Accordingly, this circular is not applicable to our company.
DETAILS OF APPLICATION / ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY
CODE, 2016
Neither any application was made nor any proceeding pending under the Insolvency and
Bankruptcy Code, 2016 (31 of 2016) during the financial year under review.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013,
the Directors of the Company confirm the following:
> that in the preparation of the annual financial statements for the year ended
March 31, 2024 the applicable accounting standards have been followed and no material
departures have been made;
> that appropriate accounting policies and applied consistently and judgments and
estimates that are reasonable and prudent have been made, so as to give a true and fair
view of the state of affairs as at March 31, 2019 and of the profits of the Company for
the Financial year ended March 31, 2024;
> that 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 have been
made; and
> that the Annual Financial Statements have been prepared on going concern basis;
> that they have laid down internal financial controls to be followed by the company
and that such internal financial controls are adequate and were operating effectively.
> that they have devised proper system to ensure compliance with the provisions of
all applicable laws and that such systems were adequate and operative effective.
ACKNOWLEDGEMENT
Your directors place on record their sincere appreciation for significant contribution
made by the employees through their dedication, hard work and commitment and the trust
reposed on them and also acknowledge with gratitude the excellent cooperation extended by
Bankers and Vendors and look forward to their support in all future endeavor.
Date: 10th July, 2024 |
|
By the order of the Board |
Place: New Delhi |
|
Rekvina Laboratories Limited |
|
SD/- |
SD/- |
|
Amit Mukesh Shah |
Srishty Bansal |
|
Managing Director |
Company Secretary |
|
DIN:01993211 |
|
