To,
The Members,
Svarnim Trade Udyog Limited,
Your directors present the 43rd Annual Report on the Business and Operations
of the Company along with the Audited Statement of Accounts for the Financial Year ended
on 31st March, 2025.
1. FINANCIAL HIGHLIGHTS:
The financial performance of the Company for the Financial Year ended on 31st
March, 2025 and for the previous financial year ended on 31st March, 2025 is
given below:
(Rs. In Lakhs)
| Particulars |
2024-25 |
2023-24 |
| Revenue from Operations |
0.00 |
0.00 |
| Other Income |
0.21 |
0.00 |
| Total Income |
0.21 |
0.00 |
| Total Expenses |
14.42 |
3.37 |
| Profit / Loss Before Exceptional and Extra Ordinary Items and Tax |
(14.21) |
(3.37) |
| Exceptional and Extra Ordinary Items |
0.00 |
0.00 |
| Profit / Loss Before Tax |
(14.21) |
(3.37) |
| Tax Expense: (i) Current Tax |
0.00 |
0.00 |
| (ii) Deferred Tax |
0.00 |
0.00 |
| Profit / Loss for the Period After Tax |
(14.21) |
(3.37) |
| Earnings Per Share (EPS) |
|
|
| Basic |
(0.58) |
(0.01) |
| Diluted |
(0.58) |
(0.01) |
2. OPERATIONS:
Total revenue from operation for Financial Year 2024-25 and 2023-24 is Nil. The Company
has incurred Loss before tax for the Financial Year 2024-25 of Rs. 14.21 Lakhs as compared
to Loss before tax of Rs. 3.37 Lakhs of previous Financial Year. Net Loss after Tax for
the Financial Year 2024-25 is Rs. 14.21 Lakhs as against Net Loss after tax of Rs. 3.37
Lakhs of previous Financial Year. The Directors are continuously looking for the new
avenues for future growth of the Company and expect more growth in the future period.
3. CHANGE IN NATURE OF BUSINESS, IF ANY:
During the Financial Year 2024-25, there was no change in nature of Business of the
Company.
4. WEBLINK OF ANNUAL RETURN:
Pursuant to Section 92(3) read with Section134(3)(a) of the Act, the Annual Return as
on March 31, 2025 is available on the Company's website at www.svarnim.com.
5. SHARE CAPITAL:
A. Authorised Share Capital:
The Authorised Share Capital of the Company as on 31st March, 2025 is Rs.
3,50,00,000/- (Rupees Three Crores Fifty Lakhs Only) divided into 35,00,000 (Thirty-Five
Lakhs) Equity Shares of Rs. 10.00/- (Rupees Ten Only).
B. Paid up Share Capital:
The Paid-up share capital of the Company as on 31st March, 2025 is Rs.
2,43,15,000/- (Rupees Two Crores Forty-Three Lakhs Fifteen Thousand Only) divided into
24,31,500 (Twenty-Four Lakhs Thirty-One Thousand Five Hundred) Equity Shares of Rs.
10.00/- (Rupees Ten Only).
6. DIVIDEND:
To conserve the resources for future prospect and growth of the Company, your Directors
do not recommend any dividend for the Financial Year 2024-25 (Previous year - Nil).
7. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND:
Pursuant to Section 124 of the Companies Act, 2013, the amount of dividend remaining
unpaid or unclaimed for a period of seven years shall be transferred to the Investor
Education and Protection Fund ("IEPF"). During the year under review, there was
no unpaid or unclaimed dividend in the "Unpaid Dividend Account" lying for a
period of seven years from the date of transfer of such unpaid dividend to the said
account. Therefore, there were no funds which were required to be transferred to Investor
Education and Protection Fund.
8. TRANSFER TO RESERVES:
The loss of the Company for the Financial Year ending on 31st March, 2025 is
transferred to profit and loss account of the Company under Reserves and Surplus.
9. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE
COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THE FINANCIAL
STATEMENTS RELATES AND THE DATE OF THE REPORT:
• Reduction Share Capital of the Company:
After the close of the financial year, the Board of Directors, in its meeting held on
13th February, 2025, approved a proposal for the reduction of the Company's
share capital under Section 66 of the Companies Act, 2013. The shareholders approved the
said proposal by passing a special resolution at the Extraordinary General Meeting held on
23rd April, 2025.
As per the resolution, the subscribed, issued, and paid-up equity share capital of the
Company is proposed to be reduced from ^2,43,15,000/- (24,31,500 equity shares of ^10/-
each) to ^24,31,500/- (2,43,150 equity shares of ^10/- each), thereby extinguishing
^2,18,83,500/-, which will be adjusted against the accumulated losses of the Company. No
cash or consideration is payable to shareholders under this reduction.
The petition for confirmation of the capital reduction has been filed with the Hon'ble
National Company Law Tribunal (NCLT), Kolkata Bench and is currently pending approval.
Other than the above, there have been no material changes and commitments affecting the
financial position of the Company between the end of the financial year and the date of
this report.
10. SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS:
No significant material orders have been passed by the Regulators or Courts or
Tribunals impacting the going concern status and Company's operations in future.
11. BOARD MEETINGS:
The Directors of the Company met at regular intervals at least once in a quarter within
the gap between two meetings not exceeding 120 days to take a view of the Company's
policies and strategies apart from the Board Matters.
During the year under the review, the Board of Directors met 8 (Eight) times viz. 2nd
May, 2024, 24th May, 2024, 12th August, 2024, 27th
August, 2024, 13th November, 2024, 29th January, 2025, 13th
February, 2025 and 26th March, 2025.
12. DIRECTORS RESPONSIBILITY STATEMENT:
In accordance with the provisions of Section 134 (3)(c) and Section 134(5) of the
Companies Act, 2013, to the best of their knowledge and belief the Board of Directors
hereby submit that:
a. In the preparation of the annual accounts, for the year ended on 31st
March, 2025 the applicable accounting standards read with requirements set out under
Schedule III to the Act, have been followed and there are no material departure from the
same;
b. 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 financial year and of the
profit of the Company for the financial year ended on 31st March, 2025;
c. The directors had taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of Companies Act, 2013 for
safeguarding the assets of the Company and for preventing and detecting fraud and other
irregularities;
d. The Directors had prepared the annual accounts on a going concern basis;
e. The Directors had laid down internal financial controls to be followed by the
Company and that such internal financial controls are adequate and are operating
effectively; and
f 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.
13. CORPORATE SOCIAL RESPONSIBILITY (CSR):
The provisions of Section 135 of the Companies Act, 2013 is not applicable to your
Company as the Company does not fall under the criteria limits mentioned in the said
section of the Act.
Hence, the Company has not taken voluntary initiative towards any activity mentioned
for Corporate Social Responsibility.
14. INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:
The Company has in place adequate internal financial controls with reference to
financial statement across the organization. The same is subject to review periodically by
the internal audit cell for its effectiveness. During the financial year, such controls
were tested and no reportable material weaknesses in the design or operations were
observed. The Statutory Auditors of the Company also test the effectiveness of Internal
Financial Controls in accordance with the requisite standards prescribed by ICAI. Their
expressed opinion forms part of the Independent Auditor's report.
Internal Financial Controls are an integrated part of the risk management process,
addressing financial and financial reporting risks. The internal financial controls have
been documented, digitized and embedded in the business processes.
Assurance on the effectiveness of internal financial controls is obtained through
management reviews, control self-assessment, continuous monitoring by functional experts.
We believe that these systems provide reasonable assurance that our internal financial
controls are designed effectively and are operating as intended.
During the year, no reportable material weakness was observed.
15. PARTICULARS OF LOANS GIVEN, GUARANTEES GIVEN, INVESTMENTS MADE AND SECURITIES
PROVIDED UNDER SECTION 186 OF THE COMPANIES ACT, 2013:
The details of loans, investment, guarantees and securities covered under the
provisions of section 186 of the Companies Act, 2013 are provided in the financial
statement.
16. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES:
During the year under review, all the Related Party Transactions were entered at arm's
length basis and in the ordinary course of business and were in compliance with the
applicable provisions of the Act and the Listing Regulations.
Pursuant to Section 188 of the Act read with rules made thereunder and Regulation 23 of
the Listing Regulations, all Material Related Party Transactions ("material
RPTs") require prior approval of the shareholders of the Company vide ordinary
resolution.
The Company has formulated and adopted a policy on dealing with related party
transactions, in line with Regulation 23 of the Listing Regulations, which is available on
the website of the Company at www.svarnim.com.
As a part of the mandate under the Listing Regulations and the terms of reference, the
Audit Committee undertakes quarterly review of related party transactions entered into by
the Company with its related parties. Pursuant to Regulation 23 of Listing Regulations and
Section 177 of the Act, the Audit Committee has granted omnibus approval in respect of
transactions which are repetitive in nature, which may or may not be foreseen, not
exceeding the limits specified thereunder. The transactions under the purview of omnibus
approval are reviewed on quarterly basis by the Audit Committee. Pursuant to Regulation
23(9) of the Listing Regulations, your Company has filed the disclosures on Related Party
Transactions in prescribed format with the Stock Exchanges.
17. RESERVES & SURPLUS:
(Rs. in Lakhs)
| Sr. No. Particulars |
Amount |
| 1. Balance at the beginning of the year |
(243.25) |
| 2. Current Year's Profit |
(14.21) |
| 3. Amount of Securities Premium and other Reserves |
0.00 |
| Total |
(257.46) |
18. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF THE RISK MANAGEMENT POLICY
OF THE COMPANY:
The Company has framed formal Risk Management framework for risk assessment and risk
minimization for Indian operation which is periodically reviewed by the Board of Directors
to ensure smooth operations and effective management control. The Audit Committee also
reviews the adequacy of the risk management frame work of the Company, the key risks
associated with the business and measures and steps in place to minimize the same.
19. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:
The details of conservation of energy, technology absorption etc. as required to be
given under section 134(3)(m) of the Companies Act 2013 read with the Companies (Accounts)
Rules, 2014, is not given as the Company has not taken any major step to conserve the
energy etc.
Export revenue constituted 0 % of the total revenue in FY 2024-25;
| Sr. No. Foreign exchange earnings and outgo |
F.Y. 2024-25 |
F.Y. 2023-24 |
| 1. Foreign exchange earnings |
NIL |
NIL |
| 2. CIF value of imports |
NIL |
NIL |
| 3. Expenditure in foreign currency |
NIL |
NIL |
| 4. Value of Imported and indigenous Raw Materials, Spare-parts and
Components Consumption |
NIL |
NIL |
20. POLICY ON DIRECTOR'S APPOINTMENT AND REMUNERATION:
The Remuneration policy is directed towards rewarding performance based on review of
achievements on a periodical basis. The remuneration policy is in consonance with the
existing industry practice and is designed to create a high-performance culture. It
enables the Company to attract, retain and motivate employees to achieve results. The
Company has made adequate disclosures to the members on the remuneration paid to Directors
from time to time. The Company's Policy on director's appointment and remuneration
including criteria for determining qualifications, positive attributes, independence of a
director and other matters provided under Section 178 (3) of the Act is available on the
website of the Company at www. svarnim. com.
21. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
Management Discussion and Analysis Report as required under Regulation 34 and Schedule
V of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 forms an
integral part of this Report, and provides the Company's current working and future
outlook as per "Annexure -1".
22. DISCLOSURES RELATING, TO HOLDING,. SUBSIDIARY, ASSOCIATE COMPANY AND JOINT
VENTURES:
The Company does not have any Holding / Subsidiary/Associate Company and Joint Venture.
23. SECRETARIAL STANDARDS:
During the year under review, the Company has complied with the applicable Secretarial
Standards issued by the Institute of Company Secretaries of India (ICSI). The Company has
devised proper systems to ensure compliance with its provisions and is in compliance with
the same.
24. REPORTING, OF FRAUDS BY THE AUDITORS:
During the year under review, neither the Statutory nor the Secretarial Auditors has
reported to the Audit Committee under Section 143(12) of the Companies Act, 2013 any
instances of fraud committed against the Company by its officers or employees, the details
of which would need to be mentioned in the Board's Report.
25. STATE OF COMPANY'S AFFAIRS:
Management Discussion and Analysis Report for the year under review, as stipulated in
Regulation 34(2)(e) of SEBI Listing Regulations is given as a separate part of the Annual
Report. It contains a detailed write up and explanation about the performance of the
Company.
26. STATEMENT ON ANNUAL EVALUATION OF BOARD'S PERFORMANCE:
The Board evaluated the effectiveness of its functioning, that of the Committees and of
individual Directors, pursuant to the provisions of the Act and SEBI Listing Regulations.
The Board sought the feedback of Directors on various parameters including:
• Degree of fulfillment of key responsibilities towards stakeholders (by way of
monitoring corporate governance practices, participation in the long-term strategic
planning, etc.);
• Structure, composition, and role clarity of the Board and Committees;
• Extent of co-ordination and cohesiveness between the Board and its Committees;
• Effectiveness of the deliberations and process management;
• Board / Committee culture and dynamics; and
• Quality of relationship between Board Members and the Management.
The above criteria are broadly based on the Guidance Note on Board Evaluation issued by
the Securities and Exchange Board of India on January 5, 2017.
The Chairman of the Board had one-on-one meetings with each Independent Director and
the Chairman of the Nomination and Remuneration Committee had one-on-one meetings with
each Executive and Non-Executive, Non-Independent Directors. These meetings were intended
to obtain Directors' inputs on effectiveness of the Board/ Committee processes.
In a separate meeting of Independent Directors, performance of Non-Independent
Directors, the Board as a whole, and the Chairman of the Company was evaluated, taking
into account the views of Executive Directors and Non-Executive Directors.
The Nomination and Remuneration Committee reviewed the performance of the individual
directors and the Board as a whole.
In the Board meeting that followed the meeting of the independent directors and the
meeting of Nomination and Remuneration Committee, the performance of the Board, its
committees, and individual directors was discussed.
The evaluation process endorsed the Board Members' confidence in the ethical standards
of the Company, the resilience of the Board and the Management in navigating the Company
during challenging times, cohesiveness amongst the Board Members, constructive
relationship between the Board and the Management, and the openness of the Management in
sharing strategic information to enable Board Members to discharge their responsibilities
and fiduciary duties.
The Board carried out an annual performance evaluation of its own performance and that
of its committees and individual directors as per the formal mechanism for such evaluation
adopted by the Board. The performance evaluation of all the Directors was carried out by
the Nomination and Remuneration Committee.
The performance evaluation of the Chairman, the Non-Independent Directors and the Board
as a whole was carried out by the Independent Directors. The exercise of performance
evaluation was carried out through a structured evaluation process covering various
aspects of the Board functioning such as composition of the Board & committees,
experience & competencies, performance of specific duties & obligations,
contribution at the meetings and otherwise, independent judgment, governance issues etc.
Pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligation and
Disclosure Requirements) Regulations, 2015, the Board has carried out the annual
performance evaluation of the Directors individually as well as evaluation of the working
of the Board by way of individual feedback from directors.
The evaluation frameworks were the following key areas:
a) For Non-Executive & Independent Directors:
• Knowledge;
• Professional Conduct;
• Comply Secretarial Standard issued by ICSI Duties;
• Role and functions.
b) For Executive Directors:
• Performance as leader;
• Evaluating Business Opportunity and analysis of Risk Reward Scenarios;
• Key set investment goal;
• Professional conduct and integrity;
• Sharing of information with Board;
• Adherence applicable government law.
The Directors expressed their satisfaction with the evaluation process.
27. MANAGING THE RISKS OF FRAUD. CORRUPTION AND UNETHICAL BUSINESS PRACTICES:
A. VIGIL MECHANISM / WHISTLE BLOWER POLICY: -
The Company has established vigil mechanism and framed whistle blower policy for
Directors and employees to report concerns about unethical behavior, actual or suspected
fraud or violation of Company's Code of Conduct or Ethics Policy.
B. BUSINESS CONDUCT POLICY: -
The Company has framed "Business Conduct Policy". Every employee is required
to review and sign the policy at the time of joining and an undertaking shall be given for
adherence to the policy. The objective of the policy is to conduct the business in an
honest, transparent and in an ethical manner. The policy provides for anti-bribery and
avoidance of other corruption practices by the employees of the Company.
28. PARTICULARS OF EMPLOYEES:
The provisions of Rule 5(2) & (3) of the Companies (Appointment & Remuneration
of Managerial Personnel) Rules, 2014 are not applicable to the Company as none of the
Employees of the Company has received remuneration above the limits specified in the Rule
5(2) & (3) of the Companies (Appointment & Remuneration of Managerial Personnel)
Rules, 2014 during the financial year 2024-25.
29. LOAN FROM DIRECTOR / RELATIVE OF DIRECTOR:
During the year under review, the Company has not entered into any materially
significant related party transactions which may have potential conflict with the interest
of the Company at large. Suitable disclosures as required are provided in AS-18 which is
forming the part of the notes to financial statement.
30. DIRECTORS AND KEY MANAGERIAL PERSONNEL:
The Directors and Key Managerial Personnel of the Company are summarized below:
| Sr. No. Name |
Designation |
DIN |
| 1. Ms. Surbhi Aggarwal |
Whole-time Director |
08409763 |
| 2. Ms. Chiranggi Rahul Goud |
Non-Executive and Independent Director |
09618079 |
| 3. Ms. Surbhi Aggarwal |
Chief Financial Officer |
BNIPA1542D |
| 4. Ms. Sangeeta Aggarwal |
Non-Executive Director Non-Independent Director |
10252827 |
| 5. Mr. Manish Shrichand Bachani |
Non-Executive and Independent Director |
08013906 |
| 6. Ms. Priya Singh1 |
Company Secretary & Compliance Officer |
DIIPS1746G |
^Appointment of Ms. Priya Singh as the Company Secretary and Compliance Officer w.e.f 2nd
May, 2024.
Apart from the above changes, there were no other changes in the composition of the
Board of Directors of the Company during the Financial Year 2024-25 and till the date of
Board's Report.
As per Companies Act, 2013, the Independent Directors are not liable to retire by
rotation.
31. DECLARATION BY INDEPENDENT DIRECTORS:
Ms. Chiranggi Rahul Goud and Mr. Manish Bachani, Independent Directors of the Company
have confirmed to the Board that they meet the criteria of Independence as specified under
Section 149 (6) of the Companies Act, 2013 and they qualify to be Independent Directors.
They have also confirmed that they meet the requirements of Independent Director as
mentioned under Regulation 16(1)(b) of SEBI (Listing Obligation and Disclosure
Requirements) Regulations, 2015. The confirmations were noted by the Board.
32. CORPORATE GOVERNANCE:
Since the paid-up Capital of Company is less than Rs. 10 Crores and Turnover is less
than Rs. 25 Crores therefore by virtue of Regulation 15 of SEBI (Listing Obligations &
Disclosure Requirements) Regulations, 2015 the compliance with the corporate governance
provisions as specified in regulations 17 to 27 and clauses (b) to (i)
of sub-regulation (2) of regulation 46 and Para C, D and E of Schedule V are not
applicable to the Company. Hence Corporate Governance does not form part of this Board's
Report.
33. DEPOSITS:
As per Section 73 of the Companies Act, 2013, the Company has neither accepted nor
renewed any deposits during the financial year. Hence the Company has not defaulted in
repayment of deposits or payment of interest during the financial year.
34. FORMAL ANNUAL EVALUATION PROCESS BY BOARD:
Pursuant to the provisions of the Companies Act, 2013 and Rules made thereunder, the
Board has carried the evaluation of its own performance, performance of Individual
Directors, Board Committees, including the Chairman of the Board on the basis of
attendance, contribution towards development of the Business and various other criteria as
recommended by the Nomination and Remuneration Committee of the Company. The evaluation of
the working of the Board, its committees, experience and expertise, performance of
specific duties and obligations etc. were carried out. The Directors expressed their
satisfaction with the evaluation process and outcome.
In a separate meeting of Independent Directors i.e. held on Tuesday, 27th
August, 2024, the performances of Executive and Non-Executive Directors were evaluated in
terms of their contribution towards the growth and development of the Company. The
achievements of the targeted goals and the achievements of the expansion plans were too
observed and evaluated, the outcome of which was satisfactory for all the Directors of the
Company.
35. AUDITORS AND THEIR REPORT:
A. Statutory Auditor:
M/s D G M S & Co., Chartered Accountants, Jamnagar (Firm Registration No.
0112187W), were appointed as the Statutory Auditors of the Company for the period of 5
(Five) consecutive years from the conclusion of 40th Annual General Meeting
held in the year 2022 till the conclusion of 45 th Annual General Meeting of
the Company to be held in the year 2027.
The report issued by Statutory Auditors for financial year 2024-25 does not contain any
qualifications or adverse remarks. The Statutory Auditors have not reported any frauds
under Section 143(12) of the Act.
Maintenance of cost records as specified under Companies Act, 2013 is not applicable to
the Company.
The Auditor's report for the Financial Year ended 31st March, 2025 has been
issued with an unmodified opinion, by the Statutory Auditor.
B. Secretarial Auditor:
The Board of Directors pursuant to Section 204 of the Companies Act, 2013 read with
Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014, has appointed Mr. Jitendra Parmar, Proprietor of M/s. Jitendra Parmar &
Associates, Company Secretaries, Ahmedabad (FRN: S2023GJ903900) as a Secretarial Auditor
of the Company to conduct Secretarial Audit for the Financial Year 2024-25.
The Secretarial Audit Report for the Financial Year 2024-25 is annexed herewith as
Annexure -II in Form MR-3.
The report of the Secretarial auditor has not made any adverse remark in their Audit
Report except:
a) Compliance of SEBI Circular No: SEBI / HO / DDHS / DDHS - RACPOD1 / P / CIR / 2023 /
172 dated October 19, 2023 i.e. Non filing of Annual Disclosures of Non-applicability of
Large Corporate for FY 2023-24.
Reply:
The Company does not fall under the criteria specified for classification as a
"Large Corporate" as per the definitions provided in the circular. Therefore,
the requirement to submit the Annual Disclosure in the prescribed format does not arise
b) During the period under review, it was noted that One of the Independent Directors
who was not registered with the Independent Directors Databank maintained by the Indian
Institute of Corporate Affairs (IICA) at the time of appointment, as required under Rule 6
of the Companies (Appointment and Qualification of Directors) Rules, 2014.
Reply:
The registration of Independent Directors has not been completed in the database due to
a technical issue in the system. The matter has been identified, and the necessary steps
are being taken to resolve it at the earliest. Once the issue is rectified, the
registration will be completed accordingly.
C. Internal Auditor:
The Board of directors has appointed M/s. B B Gusani & Associates, Chartered
Accountant, (FRN: 140785W) as the internal auditor of the Company. The Internal Auditor
conducts the internal audit of the functions and operations of the Company and reports to
the Audit Committee and Board from time to time.
36. DISCLOSURES:
A. Composition of Audit Committee:
During the year under review, meetings of members of the Audit committee as tabulated
below, was held on 24th May, 2024, 12th August, 2024, 27th
August, 2024, 13th November, 2024, 29th January, 2025 and 13th
February, 2025 the attendance records of the members of the Committee are as follows:
| Name |
Status |
No. of Committee Meetings entitled |
No. of Committee Meetings attended |
| Ms. Chiranggi Rahul Goud |
Chairperson |
6 |
6 |
| Mr. Manish Shrichand Bachani |
Member |
6 |
6 |
| Ms. Surbhi Aggarwal |
Member |
6 |
6 |
B. Composition of Nomination and Remuneration Committee:
During the year under review, meetings of the members of the Nomination and
Remuneration committee, as tabulated below, was held on 2nd May, 2024 and the
attendance records of the members of the Committee are as follows:
| Name |
Status |
No. of Committee Meetings entitled |
No. of Committee Meetings attended |
| Ms. Chiranggi Rahul Goud |
Chairperson |
1 |
1 |
| Mr. Manish Shrichand Bachani |
Member |
1 |
1 |
| Ms. Surbhi Aggarwal |
Member |
1 |
1 |
C. Composition of Stakeholders' Relationship Committee:
During the year under review, meetings of members of Stakeholders' Relationship
committee as tabulated below, was held on 27th August, 2024 and the attendance
records of the members of the Committee are as follows:
| Name |
Status |
No. of Committee Meetings entitled |
No. of Committee Meetings attended |
| Ms. Surbhi Aggarwal |
Chairperson |
1 |
1 |
| Ms. Chiranggi Rahul Goud |
Member |
1 |
1 |
| Ms. Surbhi Aggarwal |
Member |
1 |
1 |
37. DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION- PROHIBITION
& REDRESSAL) ACT.2013:
The Company has always been committed to provide a safe and conducive work environment
to its employees. Your Directors further state that during the year under review there
were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 as confirmed by the Internal Complaints Committee as
constituted by the Company.
The following no. of complaints was received under the POSH Act and the rules framed
thereunder during the year:
a. Number of complaints filed during the financial year - NIL
b. Number of complaints disposed of during the financial year - NIL
c. Number of complaints pending as on end of the financial year - NIL
38. INDUSTRIAL RELATIONS:
The Directors are pleased to report that the relations between the employees and the
management continued to remain cordial during the year under review
39. MAINTENANCE OF COST RECORDS:
According to information and explanation given to us, the Central Government has not
prescribed maintenance of cost records under section 148(1) of the Act in respect of
activities carried out by the Company.
40. COMPLIANCE ON MATERNITY BENEFIT ACT. 1961:
The Company affirms that it has duly complied with all provisions of the Maternity
Benefit Act, 1961, and has extended all statutory benefits to eligible women employees
during the year.
41. DEMATERIALISATION OF EQUITY SHARES:
As per direction of the SEBI, the shares of the Company are under compulsory demat
form. The Company has established connectivity with both the Depositories i.e., National
Securities Depository Limited ("NSDL") and Central Depository Services (India)
Limited ("CDSL") and the Demat activation number allotted to the Company is
ISIN: INE730R01042. Presently shares are held in electronic and physical mode.
42. THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE. 2016:
During the year under review, there were no applications made or proceedings pending in
the name of the Company under the Insolvency and Bankruptcy Code 2016.
43. THE DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE
TIME SETTLEMENT AND THE VALUATION DONE WHILE AVAILING LOAN FROM THE BANKS AND FINANCIAL
INSTITUTIONS:
During the year under review, there has been no one time settlement of Loans taken from
Banks and Financial Institutions.
44. ACKNOWLEDGEMENTS:
Your Directors would like to express their sincere appreciation for the co-operation
and assistance received from the Bankers, Regulatory Bodies, Stakeholders including
Financial Institutions, Suppliers, Customers and other business associates who have
extended their valuable sustained support and encouragement during the
year under review.
Your Directors take this opportunity to recognize and place on record their gratitude
and appreciation for the commitment displayed by all executives, officers and staff at all
levels of the Company. We look forward for the continued support of every stakeholder in
the future.
| Registered Office: |
|
By the Order of the Board of |
| 3A Mangoe Lane, 1st Floor Surana House, |
|
Svarnim Trade Udyog Limited |
| Kolkata, West Bengal - 700 001 |
|
|
| Place: Kolkata |
SD/- Surbhi Aggarwal |
SD/- Sangeeta Aggarwal |
| Date: 28th August, 2025 |
Whole-time Director |
Director |
|
DIN:08409763 |
DIN: 10252827 |
