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डी एंड एच इंडिया निदेशकों की रिपोर्ट, डी एंड एच इंडिया निर्देशकों द्वारा रिपोर्ट

डी एंड एच इंडिया

बीएसई: 517514  |  NSE: N.A  |  ISIN: INE589D01018  |  Electrodes & Graphite

खोजें डी एंड एच इंडिया कनेक्शन Mar 14
निदेशकों की रिपोर्ट वर्षांत : Mar '15
 DEAR MEMBERS,
 
 The Directors take pleasure in presenting the 30th Annual Report
 together with the audited financial statements for the year ended 31st
 March, 2015. The Management Discussion and Analysis has also been
 incorporated into this report.
 
 1.  HIGHLIGHTS OF PERFORMANCE
 
 * Consolidated income for the year was Rs.6701.40 Lakhs as compared to
 Rs.7074.62 Lakhs in the previous year a decline of 5.57%;
 
 * Consolidated net sales for the year was Rs.6626.43 Lakhs as compared
 to Rs.7053.88 Lakhs in the previous year, a decline of6.45%;
 
 * Consolidated profit before tax for the year was Rs.161.22 Lakhs as
 compared to Rs.302.78 Lakhs in the previous year;
 
 * Consolidated Profit after tax for the year was Rs.118.10 Lakhs as
 compared to Rs.196.01 Lakhs in 2014.
 
 2.  FINANCIAL RESULTS (Rs.ln Lakhs)
 
 Particulars Consolidated Stand Alone
 
 Particulars                                       Consolidated
 
                                            31.03.2015        31.03.2014
 
 Revenue from Operations (Net)                 6701.40           7074.62
 and other income
 
 Profit before Financial Cost                   429.88            483.46
 & Depreciation
 
 Financial Cost                                  97.46             70.42
 
 Depreciation                                   171.20            110.26
 
 Adjustment related to Fixed                     32.27                 -
 Assets (Net of Deferred Tax)
 
 Profit Before Tax (PBT)                        161.22            302.78
 
 Provision for Tax                               43.12            106.77
 
 Profit After Tax (PAT)                         118.10            196.01
 
 Less: Minority Interest                          0.02                 -
 
 Balance brought forward                       1042.99            940.27
 from previous year
 
 Profit available for Appropriations           1161.07           1136.28
 
 Appropriations:
 
 Proposed Final Equity Dividend                  37.00             37.00
 
 Tax on Equity Dividends                          7.53              6.29
 
 General Reserve                                 30.00             50.00
 
 Surplus carried to the next                   1054.27           1042.99
 year''s account
 
 Particulars                                          Standalone
 
                                             31.03.2015       31.03.2014
 
 Revenue from Operations (Net)                  6558.78          6909.55
 and other income
 
 Profit before Financial Cost                    419.29           468.25
 & Depreciation
 
 Financial Cost                                   97.12            69.56
 
 Depreciation                                    161.73           103.66
 
 Adjustment related to Fixed                      32.17                -
 Assets (Net of Deferred Tax)
 
 Profit Before Tax (PBT)                         160.44           295.02
 
 Provision for Tax                                42.78           104.23
 
 Profit After Tax (PAT)                          117.66           190.79
 
 Less: Minority Interest                              -                -
 
 Balance brought forward                        1037.42           939.91
 from previous year
 
 Profit available for Appropriations            1155.08          1130.70
 
 Appropriations:
 
 Proposed Final Equity Dividend                   37.00            37.00
 
 Tax on Equity Dividends                           7.53             6.29
 
 General Reserve                                  30.00            50.00
 
 Surplus carried to the next                    1048.38          1037.41
 year''s account
 
 3.  DIVIDEND
 
 Your directors are pleased to recommend a dividend of Re. 0.50 per
 share (5%) of Rs.10/- each absorbing a sum of Rs.  44.53 Lacs.
 (Previous year Re. 0.50 per share (5%) of Rs. 10/- each). The dividend
 will be paid to all shareholders whose names appear in the Register of
 Members as on the book closure date.
 
 4.  SHARE CAPITAL
 
 The paid up Equity Share Capital as on 31st March, 2015 was Rs.
 7,40,00,000/- divided into 74,00,000 equity shares of Rs. 10/- each.
 During the year under review, the Company has not issued shares with
 differential voting rights nor granted stock options nor sweat equity.
 
 4.1 Transferto reserves
 
 During the year under review your company has transferred Rs.
 30,00,000/-to the general reserves. (Previous year Rs. 50,00,000/-)
 
 5. FINANCE
 
 Cash and cash equivalent as at31stMarch, 2015 was Rs.97.12 Lacs. The
 Company continues to focus on judicious management of its working
 capital. Receivables, inventories and other working capital parameters
 were kept under strict check through continuous monitoring.
 
 5.1 DEPOSITS
 
 The Company has not accepted deposit from the public falling within the
 ambit of Section 73 of the Companies Act, 2013 and The Companies
 (Acceptance of Deposits) Rules, 2014 and there were no remaining
 unclaimed deposits as on 31 st March, 2015. Further that it has not
 accepted any deposit in violation of the provisions of the Chapter V of
 the Companies Act, 2013.
 
 5.2 PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
 
 Details of Loans, Guarantees and Investments covered under the
 provisions of Section 186 of the Companies Act, 2013 are given in the
 notes to the Financial Statements.
 
 In addition to the above, the Company has given advance against salary
 or otherwise to employees of the Company as per the terms of
 appointment and the Company''s policy on which no interest were charged.
 
 6. ECONOMIC SCENARIO AND OUTLOOK
 
 The low economic growth appears to have bottomed out and a gradual
 increase in economic activity is expected in 2015. The medium term to
 long term growth prospects look positive in view of the Government''s
 determination to bring in reforms. For the year 2015, the economy is
 expected to grow at a higher rate than in 2014. The long term prospect
 for the economy is optimistic.
 
 7. CORPORATE SOCIAL RESPONSIBILITY INITIATIVES
 
 In view of the paid up capital, profits and turnover of the company
 during the previous three years, the Company does not fall under the
 provisions of the section 135 of the Companies Act, 2013 and the rules
 made their under.
 
 8. OCCUPATIONAL HEALTH & SAFETY (OH&S)
 
 With regard to contractor safety, two key areas of focus identified
 were Facility Management for the contractors'' employees and Equipment,
 Tools & Material Management. The Facility Management initiative was
 implemented to ensure adequate welfare facilities for contract labor
 such as washrooms with bathing facilities, rest rooms, availability of
 drinking water etc. The Equipment, Tools & Material Management program
 ensured that the tools used by contractors were safe. The process of
 screening of contractors was made more stringent to ensure that the
 contractors were aligned with the Company''s objectives to ensure ''Zero
 Harm''.
 
 9. HUMAN RESOURCES
 
 Many initiatives have been taken to support business through
 organizational efficiency, process change support and various employee
 engagement programmes which has helped the Organization achieve higher
 productivity levels. A significant effort has also been undertaken to
 develop leadership as well as technical/ functional capabilities in
 order to meet future talent requirement.
 
 The Company''s HR processes such as hiring and on-boarding, fair
 transparent online performance evaluation and talent management
 process, state-of-the-art workmen development process, and market
 aligned policies have been seen as benchmark practices in the Industry.
 
 During the year under review, the following Human Resources initiatives
 received greaterfocus:
 
 * Employer of Choice: Employees are encouraged to express their views
 and are empowered to work independently. Employees are given the
 opportunity to learn through various small projects which make them
 look at initiatives from different perspectives and thus provide them
 with a platform to become result oriented.  This has helped greatly in
 overall development of the employee and has significantly arrested the
 attrition rate.
 
 * Leadership Development: As a part of leadership development, talented
 employees have been seconded to the senior leadership team to mentor
 them and prepare them for the next higher role.
 
 * Industrial Relations: The Company''s Industrial Relations policy has
 been benchmarked by the manufacturing sector. The Company shares
 relevant business information with the Unions in order to enlighten
 them and make them sensitive towards business requirements. This has
 helped to build a healthy relationship and resolve issues through
 mutual dialogue.
 
 10. RISK MANAGEMENT POLICY AND INTERNAL ADEQUACY
 
 The Company has in place a mechanism to identify, assess, monitor and
 mitigate various risks to key business objectives. Major risks
 identified by the businesses and functions are systematically addressed
 through mitigating actions on a continuing basis. These are discussed at
 the meetings of the Audit Committee and the Board of Directors of the
 Company.
 
 The Company has an Internal Control System, commensurate with the size,
 scale and complexity of its operations.  The scope and authority of the
 Internal Audit (IA) function is defined in the Internal Audit Charter.
 To maintain its objectivity and independence, the Internal Audit
 function reports to the Chairman of the Audit Committee of the Board.
 
 Based on the report of internal audit function, process owners
 undertake corrective action in their respective areas and thereby
 strengthen the controls. Significant audit observations and corrective
 actions thereon are presented to the Audit Committee of the Board.
 
 11. VIGIL MECHANISM/WHISTLE BLOWER POLICY
 
 The Company has a vigil mechanism named vigil mechanism/whistle blower
 Policy to deal with instance of fraud and mismanagement, if any. The
 details of the Policy is explained in the Corporate Governance Report
 and also posted on the website of the Companywww.dnhindia.com
 
 12. AUDITED FINANCIAL STATEMENTS OF THE COMPANY''S SUBSIDIARIES
 
 Pursuant to the Rule 9(5)(iv) of the Companies (Accounts) Rules, 2014
 the following particulars being submitted to the Companies become
 Subsidiary, Associates or ceased pursuant to the provisions of section
 2(6) of the CompaniesAct,2013.
 
 Name of the           Position as on       Date on which   Date on which
 other Company         1st April, 2014      become as a     ceased asa
                                            Associate       Associate
 
 V & H Fabricators     Wholly Owned         07.07.2012      -
 Pvt. Ltd.             Subsidiary
 
 Commonwealth          Subsidiary           -               -
 Mining Pvt. Ltd.
 
 Name of the                           Reasons                   Remarks
 other Company
 
 V & H Fabricators                     Entire shareholding             -
 Pvt. Ltd.                             with the Company with
                                       Nominee of Harsh Vora
 
 Commonwealth                          holding 50% of                  -
 Mining Pvt. Ltd.                      share capital
 
 As on 31st March, 2015, the Company Commonwealth Mining Pvt. Ltd. is
 not carrying any business activities. The Company does not have joint
 venture Company at the beginning or any time during the year 2014-15.
 
 In accordance with Section 129(3) of the Companies Act, 2013, the
 Company has prepared a consolidated financial statement of the Company
 which is forming part of the Annual Report. A statement containing
 salient features of the financial statements of the subsidiary company
 is also included in the Annual Report.
 
 In accordance with third proviso of Section 136(1) of the Companies
 Act, 2013, the Annual Report of the Company, containing therein its
 standalone and the consolidated financial statements has been placed on
 the website of the Company, www.dnhindia.com. Further, as per fourth
 proviso of the said section, audited annual accounts of the subsidiary
 company have also been placed on the website of the Company,
 www.dnhindia.com. Shareholders interested in obtaining a copy of the
 audited annual accounts of the subsidiary company may write to the
 Company Secretary at the Company''s registered office.
 
 13. BOARD OF DIRECTORS & KEY MANAGERIAL PERSONALS
 
 13.1 Independent Directors
 
 At the Annual General Meeting (AGM)ofthe Company held on 30th Sept,
 2014, the Members of the Company had re-appointed the existing
 independent directors Shri Basant Singh Johari, (DIN 00155715) Shri
 Jagdish Chand Kapur (DIN 00155290) and Shri Surjit Singh (DIN 00654215)
 as Independent Directors under the Companies Act, 2013 for a period of
 5 years upto 31st March 2019. The Company has further appointed Shri
 Eshanya B Guppta (DIN 01727743) and Shri Sunil Kathariya (DIN 07155856)
 in the category of Independent Director by the Board at their meeting
 held on 15th May, 2015.
 
 All Independent Directors have given declarations that they meet the
 criteria of independence as laid down under Section 149(6) of the
 Companies Act, 2013 and Clause 49 of the Listing Agreement.
 
 13.2 Executive directors and Key Managerial Personnel''s
 
 The Board of Directors had on the recommendation of the Nomination &
 Remuneration Committee appointed Shri Harsh Vora (DIN 00149287) as
 Managing Director for a further period of three yearw.e.f. 29lh
 October, 2014 and Shri Saurabh Vora (DIN 02750484) & Mrs. Atithi Vora
 (DIN 06899964) as Whole Time Directors for a period of three yearw.e.f.
 1sl October, 2014
 
 The Company is already having Shri Harsh Vora as the Managing Director
 and Shri Madhusudan Jain as the Whole-time director being the Key
 Managerial Personnel''s of the Company.
 
 The Board has approved the re-designation of Shri Rajesh Sen, Company
 Secretary of the Company as a Company Secretary and Key Managerial
 Person of the Company and Shri Sanat Kumar Jain, General Manager
 Finance of the Company as a Chief Financial Officer (CFO) and Key
 Managerial Person of the Company w.e.f. 1st April, 2014.
 
 13.3 Directors seeking re-appointment
 
 In accordance with the provisions of the Companies Act, 2013 and in
 terms of the Memorandum and Articles of Association of the Company,
 Shri Sushil Rawka (DIN 00156990) retires by rotation and is eligible
 for re-appointment.
 
 Shri Eshanya B Guppta (DIN: 01727743) and Shri Sunil Kathariya (DIN:
 07155856) were appointed by the Board as an additional directors in the
 category of the Independent director at their meeting held on 15th May,
 2015 and the Company has received a notice as required under section
 160 of the Companies Act, 2013 for proposal to appoint them at the
 Annual General Meeting in the category of the Independent Directors of
 the Company.
 
 Shri Madhusudan Jain, Whole-time directors, whose term is being over on
 23rd January, 2016 has been re- appointed by the Board upon the
 recommendation of the Remuneration and Nomination Committee of the
 Board for a further tenure of 3 years w.e.f. 24th January, 2016,
 subject to the approval of the Central Government.
 
 Your directors recommend to pass necessary resolution as set out in the
 Item No. 5 to 7 of the notice of the annual general meeting.
 
 13.4 Directors ceased during the year
 
 Shri Vimal Lunia and Shri Nirmal Lunia, the Directors have resigned
 from the Board w.e.f. 12th August 2014 due to pre- occupation. Your
 directors place on record their appreciation for the valuable Services
 rendered by them to the Company.
 
 14.  BOARD OF DIRECTORS, REMUNERATION POLICY AND THEIR MEETINGS
 
 14.1 Number of meetings of the Board
 
 The Board meets at regular intervals to discuss and decide on
 Company/business policy and strategy apart from other Board business.
 
 The notice of Board meeting is given well in advance to all the
 Directors. Usually, meetings of the Board are held in Indore, at the
 Head Office of the Company. The Agenda of the Board/Committee meetings
 is circulated at least a week prior to the date of the meeting. The
 Agenda for the Board and Committee meetings includes detailed notes on
 the items to be discussed at the meeting to enable the Directors to
 take an informed decision.
 
 The Board met 4 (Four) times in financial year 2014-15 viz., on 30th
 May, 2014,12thAugust, 2014,8th Nov., 2014 and 2nd Feb., 2015. The
 maximum interval between any two meetings did not exceed 120 days.
 
 14.2 Board independence
 
 Our definition of ''Independence'' of Directors is derived from Clause 49
 of the Listing Agreement with Stock Exchanges and Section 149(6) of the
 Companies Act, 2013. Based on the confirmation/ disclosures received
 from the Directors and on evaluation of the relationships disclosed,
 the following Non-Executive Directors are Independent in terms of
 Clause 49 of the Listing Agreement and Section 149(6) of the Companies
 Act, 2013:-
 
 14.3 Company''s policy on Directors'' appointment and remuneration
 
 The Policy of the Company 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, is appended as Annexure E to this Report and hosted
 at the website of the Company at www.dnhindia.com.
 
 14.4 Annual evaluation by the Board
 
 The evaluation framework for assessing the performance of Directors
 comprises of the following key areas:
 
 i.  Attendance of Board Meetings and Board Committee Meetings
 
 ii.  Quality of contribution to Board deliberations
 
 iii. Strategic perspectives or inputs regarding future growth of
 Company and its performance
 
 iv.  Providing perspectives and feedback going beyond information
 provided by the management
 
 v.  Commitment to shareholder and other stakeholder interests
 
 The evaluation involves Self-Evaluation by the Board Member and
 subsequently assessment by the Board of Directors. Amember of the Board
 will not participate in the discussion of his/her evaluation.
 
 15. DIRECTORS''RESPONSIBILITY STATEMENT
 
 To the best of their knowledge and belief and according to the
 information and explanations obtained by them, your Directors make the
 following statements in terms of Section 134(5) of the Companies Act,
 2013:
 
 a. that in the preparation of the annual financial statements for the
 year ended 31st March, 2015, the applicable accounting standards have
 been followed along with proper explanation relating to material
 departures;
 
 b. that such accounting policies as mentioned in Note 2 of the Notes to
 the Financial Statements have been selected and applied consistently
 and judgments and estimates have been made 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 2015 and of the profit of the Company for
 the year ended on that date;
 
 c. that proper and sufficient care has been taken 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;
 
 d. that the annual financial statements have been prepared on a going
 concern basis;
 
 e. that proper internal financial controls were in place and that the
 financial controls were adequate and were operating effectively.
 
 f. that systems to ensure compliance with the provisions of all
 applicable laws were in place and were adequate and operating
 effectively.
 
 16. COMMITTEES OF THE BOARD
 
 During the year, in accordance with the Companies Act, 2013, the Board
 has the following five Committees as follows:
 
 (a) Audit Committee
 
 (b) Nomination and Remuneration Committee
 
 (c) Stakeholders'' Relationship Committee
 
 (d) Risk management Committee
 
 (e) Independent Director Committee
 
 (f) Internal Committee for (Sexual Harassment of Women at Workplace
 (Prevention, Prohibition and Redressal)Act, 2013 redressal of complaint
 at the workplace
 
 Details of all the Committees along with their charters, composition
 and meetings held during the year, are provided in the Report on
 Corporate Governance, a part of this Annual Report.
 
 17. RELATED PARTY TRANSACTIONS
 
 All related party transactions that were entered into during the
 financial year were on an arm''s length basis and were in the ordinary
 course of business. There are no materially significant related party
 transactions made by the Company with Promoters, Directors, Key
 Managerial Personnel or other designated persons which may have a
 potential conflict with the interest of the Company at large.
 
 All Related Party Transactions are placed before the Audit Committee as
 also the Board for approval. The transactions entered into are audited
 and a statement giving details of all related party transactions is
 placed before the Audit Committee and the Board of Directors for their
 approval on a quarterly basis. The statement is supported by a
 Certificate from the CEO & MD and the CFO. The Company has developed a
 Related Party Transactions Manual, Standard Operating Procedures for
 purpose of identification and monitoring of such transactions. The
 particulars of the related party transactions have been given in the
 FormAOC-2 and attached with this Report as an Annexure F.
 
 The policy on Related Party Transactions as approved by the Board is
 uploaded on the Company''s website. A disclosure as required under
 section 134(3)(h) of the Companies Act, 2013 and the Rule 8(2) of the
 Companies (Accounts) Rules, 2014 being enclosed as Annexure F with the
 Board''s Report and hosted at the website of the
 Companyatwww.dnhindia.com.
 
 18. SIGNIFICANTAND 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.
 
 19. AUDITORS
 
 19.1 Statutory Auditors Appointment
 
 The Company''s Auditors, M/sABN & Co., Chartered Accountants, who were
 appointed for a term of three years at the Annual General Meeting of
 the Company held on 30th September, 2014 are eligible for ratification
 of their appointment. They have confirmed their eligibility under
 Section 141(3) (g) of the Companies Act, 2013 and the Rules framed
 thereunder for ratification for appointment as Auditors of the Company.
 As required under Clause 49 of the Listing Agreement, the auditors have
 also confirmed that they hold a valid certificate issued by the Peer
 Review Board of the Institute of Chartered Accountants of India.
 
 Your Board is pleased to inform that there is no such observation made
 by the Auditors in their report which needs any explanation by the
 Board
 
 19.2 Cost Auditors
 
 Pursuant to Section 148 of the Companies Act, 2013 read with The
 Companies (Cost Records and Audit) Amendment Rules, 2014, the cost
 audit records maintained by the Company in respect of its manufacturing
 activity is not required to be audited. But your Directors had, on the
 recommendation of the Audit Committee, appointed M/s Vijay P. Joshi &
 Associates, Cost Accountants audit the cost accounts of the Company for
 the financial year 2014-15 on a remuneration of Rs. 45,000/-.
 
 19.3 Secretarial Audit
 
 Pursuant to the provisions of Section 204 of the Companies Act, 2013
 and the Companies (Appointment and Remuneration of Managerial
 Personnel) Rules, 2014, the Company has appointed M/s D K Jain & Co., a
 firm of Company Secretaries in Practice to undertake the Secretarial
 Audit of the Company. The Report of the Secretarial Audit Report is
 annexed herewith as Annexure B.
 
 20. ENHANCING SHAREHOLDERS VALUE
 
 Your Company believes that its Members are among its most important
 stakeholders. Accordingly, your Company''s operations are committed to
 the pursuit of achieving high levels of operating performance and cost
 competitiveness, consolidating and building for growth, enhancing the
 productive asset and resource base and nurturing overall corporate
 reputation. Your Company is also committed to creating value for its
 other stakeholders by ensuring that its corporate actions positively
 impact the socio-economic and environmental dimensions and contribute
 to sustainable growth and development.
 
 21. CORPORATE GOVERNANCE
 
 As per Clause 49 of the Listing Agreement with the Stock Exchanges, a
 separate section on corporate governance practices followed by the
 Company, together with a certificate from the Company''s Auditors
 confirming compliance forms an integral part of this Report.
 
 21.1. CEO & CFO certification
 
 Certificate from Shri Harsh Vora, Managing Director and Mr. Sanat Kumar
 Jain, Chief Financial Officer, pursuant to provisions of Clause 49(V)
 of the Listing Agreement, for the year under review was placed before
 the Board of Directors of the Company at its meeting held on 30th May,
 2015.
 
 A copy of the certificate on the financial statements for the financial
 year ended March, 31,2015 is annexed along with this Report as Annexure
 A.
 
 22. CONSOLIDATED FINANCIAL STATEMENTS
 
 The Consolidated Financial Statements of the Company prepared in
 accordance with relevant Accounting Standards (AS) viz. AS 21, AS 23
 and AS 27 issued by the Institute of Chartered Accountants of India
 form part of this Annual Report.
 
 23. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
 EARNINGS AND OUTGO
 
 The information on conservation of energy, technology absorption and
 foreign exchange earnings and outgo stipulated under Section 134(3) (m)
 of the Companies Act, 2013 read with Rule, 8 of The Companies
 (Accounts) Rules, 2014, is annexed herewith as Annexure C.
 
 24. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION
 OF THE COMPANY
 
 There have been no material changes and commitments, if any, 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 a copy of the annexure may
 write to the Company Secretary at the Company''s registered office.
 
 25. EXTRACT OF ANNUAL RETURN
 
 The details forming part of the extract of the Annual Return in form
 MGT-9 is annexed herewith as Annexure D.
 
 26. PARTICULARS OF REMUNERATION OF EMPLOYEES
 
 The applicable information required pursuant to Section 197 of the
 Companies Act, 2013 read with Rule 5(2) of the Companies (Appointment
 and Remuneration of Managerial Personnel), Rules 2014 in respect of the
 employees are as under.
 
 S.          Name and Age             Designation        Remuneration
 No.                                                     (Amount in Rs.)
 
 1           Harsh Vora               Managing           89,33,533/-
             (53 Year)                Director
 
 2.           Madhusudan Jain         Whole Time         83,71,706/-
             (49 Year)                Director
 
 S.           Name and Age            Qualification        Experience
 No.                                                       (in years)
 
 1            Harsh Vora               B.Com                30
              (53 Year)
 
 2.            Madhusudan Jain         Mechanical           25
              (49 Year)
 
 S.           Name and Age             Date of              Previous
 No.                                   joining              employment
 
 1            Harsh Vora               06.12.1990           Nil
              (53 Year)
 
 2.            Madhusudan Jain         24.01.2004           Nil
              (49 Year)                Engineer
 
 The particulars of the remuneration to the directors pursuant to the
 section 197(12) of the Companies Act, 2013 read with the Rule 5(1) of
 the Companies (Appointment and Remuneration to the Managerial
 Personnel) Rules 2014 are enclosed as Annexure E.
 
 27. ACKNOWLEDGEMENTS
 
 Your Directors thank the various Central and State Government
 Departments, Organizations and Agencies for the continued help and
 co-operation extended by them. The Directors also gratefully
 acknowledge all stakeholders of the Company viz. customers, members,
 dealers, vendors, banks and other business partners for the excellent
 support received from them during the year. The Directors place on
 record their sincere appreciation to all employees of the Company for
 their unstinted commitment and continued contribution to the Company.
 
 28. CAUTIONARY STATEMENT
 
 Statements in the Board''s Report and the Management Discussion &
 Analysis describing the Company''s objectives, expectations or forecasts
 may be forward-looking within the meaning of applicable securities laws
 and regulations.
 
 Actual results may differ materially from those expressed in the
 statement. Important factors that could influence the Company''s
 operations include global and domestic demand and supply conditions
 affecting selling prices of finished goods, input availability and
 prices, changes in government regulations, tax laws, economic
 developments within the country and otherfactors such as litigation and
 industrial relations.
 
                                        For and on behalf of the Board
 
 Place: Indore                        Harsh Vora             SushilRawka
 Date: 13lhAugust, 2015            Managing Director           Director
                                     DIN 00149287            DIN00156990
 
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `335 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `2409 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `4293 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `1664 Cr की खरीदारी
  • MARKET CUES : इंडेक्स ऑप्शंस में `1753 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `912 Cr की खरीदारी
  • MARKET CUES : स्टॉक ऑप्शंस में `36 Cr की बिकवाली
  • JEFFERIES ON SUN PHARMA : BUY रेटिंग, लक्ष्य बढ़ाकर `530/Sh
  • CS ON SUN PHARMA : Neutral रेटिंग, लक्ष्य `400/Sh
  • CLSA ON SUN PHARMA : BUY रेटिंग, लक्ष्य घटाकर `560/Sh

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