मैट्रिक्स
 
 
विजय सॉल्वेक्स निदेशकों की रिपोर्ट, विजय सॉल्वेक्स निर्देशकों द्वारा रिपोर्ट

विजय सॉल्वेक्स

बीएसई: 531069  |  NSE: N.A  |  ISIN: INE362D01010  |  Edible Oils & Solvent Extraction

खोजें विजय सॉल्वेक्स कनेक्शन Mar 15
निदेशकों की रिपोर्ट वर्षांत : Mar '18

TO THE MEMBERS OF VIJAY SOLVEX LIMITED

The Directors have pleased to present the 30th Annual Report on the business & operations of your Company along with the Audited Financial Statements for the financial year ended 31st March, 2018.

SUMMARIZED FINANCIAL RESULTS

(Rs. in Lakhs)

Particulars

Year ended 2017-18

Year ended 2016-17

Year ended 2017-18

Year ended 2016-17

Standalone

Consolidated

Revenue from operations

87882.25

68722.88

87882.25

68722.88

Other Income

9.17

130.60

9.17

130.60

Total Income

87891.42

68853.48

87891.42

68853.48

Profit before finance cost, depreciation and tax

2029.93

1710.49

2029.93

1710.49

Less: Finance Cost

267.14

204.68

267.14

204.68

Profit before depreciation and tax

1762.79

1505.81

1762.79

1505.81

Less: Depreciation

151.03

140.00

151.03

140.00

Profit before Tax (before share of profit of associates)

1611.76

1365.81

1611.76

1365.81

Add: Share of Profit / (Loss) of associates

-

-

(2.22)

7.67

Profit before Tax (after share of profit of associates)

-

-

1609.54

1373.48

Less: Current Tax

620.00

460.00

620.00

460.00

Less: Deferred Tax

(34.60)

10.95

(34.60)

10.95

Profit after Tax

1026.36

894.86

1024.14

902.53

Add: Other Comprehensive Income

17.05

25.95

713.76

234.82

Total Comprehensive Income

1043.41

920.81

1737.90

1137.35

Add: Balance brought forward from previous year

10008.32

9087.51

10348.38

9211.03

Surplus carried to Balance Sheet

11051.73

10008.32

12086.28

10348.38

Figures for the financial year 2016-17 have been restated / regrouped as per Ind AS and therefore may not be comparable with financials for the financial year 2016-17 as approved by the Board of Directors and disclosed in the Financial Statements of previous year.

STATE OF COMPANY’S AFFAIRS

During the period under review, on standalone basis, your Company has achieved a total Turnover of Rs. 87,882.25 Lakhs as against Rs. 68,722.88 Lakhs in the previous financial year. The Profit before finance cost, depreciation and tax is Rs. 2029.93 Lakhs, Profit after Tax is Rs. 1026.36 Lakhs and Total Comprehensive Income is Rs. 1043.41 Lakhs as compare to Rs. 1710.49 Lakhs, Rs. 894.86 Lakhs and Rs. 920.81 Lakhs respectively in the previous financial year. During the year the turnover and Profit after Tax of the Company has increased by 27.88% and 14.70% respectively.

Further, during the period under review, on consolidated basis, the Profit before Tax (after share of profit of associates) is Rs. 1609.54 Lakhs as against Rs. 1373.48 Lakhs in the previous financial year. The Profit after Tax is Rs. 1024.14 Lakhs and Total Comprehensive Income is Rs. 1737.90 Lakhs as against Rs. 902.53 Lakhs and Rs. 1137.35 Lakhs respectively in the previous financial year. During the year the Profit before Tax (after share of profit of associates) and Profit after Tax of the Company has increased by 17.19% and 13.47% respectively.

ADOPTION OF INDIAN ACCOUNTING STANDARD (IND AS)

The Company has adopted the Indian Accounting Standard (“Ind AS”) w.e.f. 1st April 2017 (transition date being 1st April, 2016). The above Financial Statements have been prepared in accordance with the recognition and measurement principles stated therein and as prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India.

DIVIDEND

The Company intends to retain internal accrual for funding growth to generate a good return for shareholders both of today and tomorrow. Thus the Board of Directors does not propose any dividend for the financial year 2017-18.

TRANSFER TO RESERVES

Your Company has not made any transfer to Reserves during the financial year 2017-18.

PUBLIC DEPOSITES

During the year under review, the Company has neither accepted nor renewed any deposits in terms of Chapter V of the Companies Act, 2013 and Rules framed thereunder.

CORPORATE SOCIALRESPONSIBILITY

The Corporate Social Responsibility Committee comprises of three Independent Directors namely Shri G.R. Goyal (Chairman), Shri Ram Babu Jhalani and Shri Ramesh Chand Gupta as other members.

During the year, the Company has spent Rs. 32.79 Lakhs (more than 2% of the average net profits of last three financial years) on CSR activities.

The Corporate Social Responsibility Committee has formulated and recommended to the Board, a Corporate Social Responsibility Policy (CSR Policy) indicating the activities to be undertaken by the Company, which has been approved by the Board.

The CSR Policy of the Company can be accessed on the Company’s website at the link: http://www.vijaysolvex.com/yahoo_site_admin/assets/docs/Corporate_Social_Responsibiity_Policy.208175221.pdf.

The key philosophy of all CSR initiatives of the Company is guided by three core commitments of Scale, Impact and Sustainability.

The Company has identified focus areas for CSR engagement, details of few such areas are given below:

1) Promoting education including special education.

2) Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation.

3) Promoting gender equality, empowering women.

4) Ensuring environmental sustainability, ecological balance, protection of flora and fauna,animal welfare.

5) Rural development projects.

6) Promoting rural sports and nationally recognized sports.

The Company would also undertake other need based initiatives in compliance with Schedule VII to the Act. The Annual disclosures as per Rule 9 of Companies (Corporate Social Responsibility Policy) Rules, 2014 shall be made as Annexure-I.

CONSOLIDATED FINANCIAL STATEMENTS

As per Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and applicable provisions of the Companies Act, 2013 read with Rules framed thereunder, the Consolidated Financial Statements of the Company for the financial year 2017-18 have been prepared in compliance with applicable Accounting Standards and on the basis of audited financial statements of the Company and its associates companies (refer Form AOC-1 as attached to the Consolidated Financial Statements of the Company forming part of this Annual Report), as approved by the respective Board of Directors. The Consolidated Financial Statements together with Auditor’s Report form part of this Annual Report.

CORPORATE GOVERNANCE

The Company has complied with the corporate governance requirements as stipulated under the various regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Companies Act, 2013. A report on Corporate Governance along with certificate on its compliance forms a part of this Annual Report.

DETAILS OF SUBSIDIARY COMPANIES, JOINT VENTURES AND ASSOCIATE COMPANIES AND HIGHLIGHTS OF THEIR PERFORMANCE AND THEIR CONTRIBUTION TO THE OVERALL PERFORMANCE OF THE COMPANY

There is no subsidiary and joint venture of the Company and further there are no Companies, which have become or ceased to be the subsidiary, joint venture and associate of the Company during the year.

Detail of associate companies has been specified in form MGT-9 which is attached herewith as Annexure V.

Pursuant to the provisions of Section 129(3) of the Companies Act, 2013, a statement containing salient features of the financial statements of the Associate Companies in Form AOC-1 is attached to the Consolidated Financial Statements of the Company forming part of this Annual Report. The said form also highlights the financial performance of the Associate Companies and their contribution to the overall performance of the Company during the period under report pursuant to Rule 8(1) of the Companies (Accounts) Rules, 2014.

PARTICULARS OF LOAN GIVEN, INVESTMENT MADE, GUARANTEES GIVEN AND SECURITIES PROVIDED

No loan given, guarantees given, investment made and securities provided during the financial year 2017-18.

NUMBER OF MEETINGS OF BOARD

The Board duly met at regular intervals to discuss and decide on business strategies/policies and review the financial performance of the Company. The notice along with agenda and notes on agenda of each Board Meeting was given in writing to each Director.

Ten meetings of Board of Directors were held during the year. The interval between two meetings was well within the maximum period mentioned under section 173 of Companies Act, 2013 and Regulation 17(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. For further details, please refer report on Corporate Governance of this Annual Report.

AUDIT COMMITTEE

The Audit Committee comprises of three Independent Directors namely Shri G.R. Goyal (Chairman), Shri Ram Babu Jhalani and Shri Ramesh Chand Gupta as other members.

All the recommendations made by the Audit Committee were accepted by the Board.

Further, the Roles and Responsibilities and other related matters of Audit Committee forms an integral part of Corporate Governance Report as part of this Annual Report.

COMPLIANCE OF SECRETARIAL STANDARDS

The Company has complied with all the applicable Secretarial Standards issued by the Institute of Company Secretaries of India on Meetings of Board of Directors and General Meetings.

DIRECTORS AND KEY MANAGERIAL PERSONNEL Directors

Pursuant to Section 149, 152 and other applicable provisions of the Companies Act, 2013, one-third of such of the Directors as are liable to retire by rotation, shall retire every year and, if eligible, offer themselves for reappointment at every Annual General Meeting. Consequently Shri Daya Kishan Data (DIN: 01504570), Whole Time Director will retire by rotation at the ensuing Annual General Meeting, and being eligible, offers himself for re-appointment in accordance with the provisions of the Companies Act, 2013.

During the period under review, the members approved the re-appointment of Mr. Ram Babu Jhalani (DIN: 01614184), Mr. G.R. Goyal (DIN: 03040941), Mr. Ramesh Chand Gupta (DIN: 01557586) and Mr. Shiv Kumar Gupta (DIN: 06960496) as Independent Directors of the Company for a second term of 5 consecutive years from the conclusion of the 29th Annual General Meeting till the conclusion of 34th Annual General Meeting to be held in the calendar year 2022.

During the period 2017-18, the members at the 29th Annual General Meeting has approved the fixation and revision of remuneration of Mr. Vijay Data (DIN: 00286492), Managing Director, Mr. Niranjan Lal Data (DIN: 00286337), Whole Time Director & Executive Chairman and Mr. Daya Kishan Data (DIN: 01504570), Whole Time Director of the Company, for their remaining tenure.

During the year none of the Directors of the Company have resigned from the directorship of the Company.

Key Managerial Personnel

The Key Managerial Personnel (KMP) in the Company as per Section 2(51) and 203 of the Companies Act, 2013 are as follows:-

Mr. Vijay Data, Managing Director Mr. Niranjan Lal Data, Whole Time Director Mr. Daya Kishan Data, Whole Time Director Mr. Shanker Kukreja, Chief Financial Officer Mr. J.P. Lodha, Company Secretary

During the year there was no change (appointment or cessation) in the office of KMP.

DECLARATION FROM INDEPENDENT DIRECTORS

The Company has received necessary declarations from all the independent directors of the Company under Section 149(7) of the Companies Act, 2013 confirming that they meet the criteria of independence in terms of Section 149(6) of the Companies Act, 2013 and regulation 16 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

FAMILIARISATION PROGRAMME AND TRAINING OF INDEPENDENT DIRECTORS

The detail of programmes conducted during the year 2017-18 for familiarization of Independent Directors with the Company, their roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, business model of the Company and related matters are put up on the website of the Company at link: http://www.vijaysolvex.com/yahoo_site_admin/assets/docs/Familiarization_Programme_for_Independent_Direc tors_2017- 18.23902005.pdf

DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the requirements of Section 134(3) & (5) of the Companies Act, 2013, your Directors state that:

a) In the preparation of the Annual Accounts for the year ended 31st March, 2018, the applicable accounting standards read with requirements set out under Schedule III to the Companies Act, 2013, have been followed and there are no material departures from the same;

b) The Directors have 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 the affairs of the Company as at 31st March, 2018 and of the profit of the company for the year ended on that date;

c) The Directors have 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;

d) The Directors have prepared the annual accounts of the Company on a ‘going concern’ basis;

e) The Directors have 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 have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

In terms of Section 134 of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, the Company has an Internal Control System, commensurate with the size, scale and complexity of its operations which ensure proper safeguarding of assets, maintaining proper accounting records and providing reliable financial information.

The Internal Auditors of the Company conducted the internal audit of the Company’s operations and report its findings to the Audit Committee on a regular basis. Internal Auditor also evaluates the functioning and quality of internal controls and provides assurance of its adequacy and effectiveness through periodic reporting.

During the year, such controls were tested and no reportable material weaknesses in the design or operation were observed. Your company has adequate internal financial control with reference to its financial statements.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Vigil Mechanism of the Company incorporates a whistle blower policy. Protected disclosures can be made by a whistle blower through an e-mail, or dedicated telephone line or a letter to the Company Secretary or Chief Financial Officer of the Company or to the Chairman of the Audit Committee. The whistle blower policy may be accessed on the Company’s website at the link:

http://www.vijaysolvex.com/yahoo_site_admin/assets/docs/Whistle_Blower_Policy.23902325.pdf EVALUATION OF BOARD

Pursuant to the applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out the annual performance evaluation along with Nomination and Remuneration Committee, of its own performance, the Directors individually as well as the evaluation of its committees.

The performance evaluation criteria of the Board include growth in Business volumes and profitability, compared to earlier periods, growth over the previous years through and fairness in Board Decision making processes. The performance of individual directors and committees was evaluated on the parameters such as level of engagement and contribution, independence of judgment, safeguarding the interest of the Company and its minority shareholders, time devoted, awareness to responsibilities, duties as director, attendance record and intensity of participation at meetings etc.

The exclusive meeting of Independent Directors evaluates the performance of the Board, non-Independent Directors & the Chairman.

The performance evaluation of committee’s and board as a whole was done on the basis of questionnaire which was circulated among the board members and committee members and on receiving the inputs from them, their performance was assessed by the board.

Lastly, performance evaluation of individual directors was done on the basis of self-evaluation forms which were circulated among the directors and on receiving the duly filled forms, their performance was assessed.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

All contracts/arrangements/transactions entered by the Company during the financial year with related parties were in the ordinary course of business and on an arm’s length basis. Detail of related party transactions have been disclosed in notes to the financial statements.

During the year, the Company had entered into contract/arrangement/transaction with M/s Deepak Vegpro (P) Ltd. and M/s Data Oils (Partnership Firm), related parties which could be considered material in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and company’s policy on related party transactions and approval for these material transactions entered with the above mentioned parties has already been taken from the shareholders of the company.

Pursuant to Clause (h) of sub-section (3) of section 134 of the Companies Act, 2013 and Rules 8(2) of the Companies (Accounts) Rules, 2014, the particulars of contracts or arrangements or transactions entered into by the Company with related parties has disclosed in Form No. AOC- 2 which is attached as Annexure-II.

The policy on related party transactions as approved by the Board may be accessed on the Company’s website at the link:

http://www.vijaysolvex.com/yahoo_site_admin/assets/docs/Related_Party_Transaction_Policy.23902123.pdf RISK MANAGEMENT POLICY

The Company’s Risk Management Policy is well defined to identify and evaluate business risks across all businesses. It assesses all risks at both pre and post-mitigation levels and looks at the actual or potential impact that a risk may have on the business together with an evaluation of the probability of the same occurring. Risk mapping exercises are carried out with a view to regularly monitor and review the risks, identity ownership of the risk, assessing monetary value of such risk and methods to mitigate the same. As per view of the Board, there is no risk in operation of the Company, which may impact the existence of the Company.

COST RECORDS

Pursuant to the provisions of sub-section (1) of section 148 of the Companies Act, 2013, the Central Government has specified preparation and maintenance of cost records, is required by the Company and accordingly such accounts and records are made and maintained by the Company.

AUDITORS AND AUDITOR’S REPORT Statutory Auditors

M/s Anil Mukesh & Associates, Chartered Accountants, New Delhi (Firm Registration No. 014787N) was appointed as Statutory Auditor of the Company at the 29th Annual General Meeting of the Company held on 29th September, 2017, to hold office for a term of five consecutive years from the conclusion of the 29th Annual General Meeting till the conclusion of 34th Annual General Meeting of the Company to be held in the Calendar year 2022, subject to ratification by the Members of the Company at every Annual General Meeting.

Further with the commencement of the Companies (Amendment) Act, 2017, Ministry of Corporate affairs has amended the provision of section 139 of the Companies Act, 2013 vide notification dated 7th May, 2018 and the provision of ratification of appointment of statutory auditor of the Company, by the members at every Annual General Meeting has been deleted w.e.f. 7th May, 2018. Accordingly, there is no need to ratify the appointment of M/s Anil Mukesh & Associates, Chartered Accountants, New Delhi (Firm Registration No. 014787N) at the ensuing Annual General Meeting of the Company.

Auditor’s Report

The notes on accounts referred to in the Auditor’s Report are self explanatory and there are no qualifications, reservations or adverse remarks in the Report and therefore do not need any further comment.

Cost Auditors

Pursuant to the provisions of Section 148 of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014, the Board, upon a recommendation from the Audit Committee, has appointed M/s Rajesh & Company, Cost Accountants (Firm Registration Number 000031) as the Cost Auditor of the Company to conduct the audit of the cost records of the Company for the financial year ending March 31, 2019, at a remuneration as specified in the notice of 30th Annual General Meeting of the Company, which has to be ratified by the members of the company.

Secretarial Auditor

Pursuant to provisions of Section 204 of the Companies Act, 2013 and rules made there under, the Board has appointed Mr. Arun Jain, Company Secretary in Practice (Certificate of Practice No: 13932), to conduct Secretarial Audit of the company for the financial year 2017-18. The Secretarial Audit Report for the financial year ended 31st March, 2018 is annexed herewith marked as Annexure-III.

The Secretarial Audit Report does not contain any qualification, reservation or adverse remark.

SALIENT FEATURES OF THE POLICY FOR DIRECTORS’ APPOINTMENT AND REMUNERATION

The nomination and remuneration committee has recommended to the Board the following policies:-

a) Policy for selection of Directors and determining Directors Independence; and

b) Remuneration Policy for Directors, Key Managerial Personnel and senior management.

The salient features of the above mentioned policies are attached herewith and marked as Annexure-IV(i) and IV(ii).

Further these policies may be accessed on the Company’s website at the link:

a) The Policy for selection of Directors and determining Directors Independence can be easily accessed on:

http://www.vijaysolvex.com/yahoo_site_admin/assets/docs/Policy_for_Selection_of_Directors_Determining_of_Directors_Independence.23571314.pdf

b) The Remuneration Policy for Directors, Key Managerial Personnel and senior management may be easily accessed on:

http://www.vijaysolvex.com/yahoo_site_admin/assets/docs/REMUNERATION_POLICY.23902247.pdf

EXTRACT OF ANNUAL RETURN

Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies (Management and Administration) Rules, 2014, the extract of Annual Return of the Company in Form MGT-9 is annexed herewith as Annexure-V to this Report. Further the same may be accessed on the Company’s website at the link:

http://www.vijaysolvex.com/yahoo_site_admin/assets/docs/MGT-9_Extract_of_Annual_Return_31032018.240234731.pdf

LEGAL MATTERS PENDING BEFORE VARIOUS COURTS AND NATIONAL COMPANY LAW TRIBUNAL

Order dated 14.03.2012 passed by Hon’ble High Court of Judicature of Rajasthan, Bench at Jaipur inter alia in S.B. Civil Misc. Appeal No. 2218 of 2011 in respect of partition suit was set aside by the Hon’ble Supreme Court vide order dated 04.08.2014 and the matter was remitted back to Hon’ble High Court of Judicature of Rajasthan for its fresh consideration after hearing the parties. Hon’ble High Court of Judicature of Rajasthan, Bench at Jaipur, after hearing the parties, passed an order dated 06.04.2015 partially setting aside Order dated 10.02.2011 passed by the Court of Ld. ADJ, Jaipur. However, the order dated 06.04.2015 passed by Hon’ble High Court of Judicature of Rajasthan has been challenged before the Hon’ble Supreme Court of India by the original Plaintiffs. Therefore, as on date, the restraint order passed by the Ld. Trial Court against the Company for transferring or alienating its properties or creating charge over the properties of the Company stands set aside and no order staying the operation of the order dated 06.04.2015 passed by Hon’ble High Court of Judicature of Rajasthan, has been passed by the Hon’ble Supreme Court.

The cases filed against the Company under Section 111, 397-398 of the Companies Act, 1956 are still sub-judice before the Hon’ble National Company Law Tribunal (erstwhile Company Law Board), New Delhi which are yet to be heard finally by the NCLT.

Presently, the Company is registered owner of SCOOTER trademark/device/logo and copyright holder for the artwork of SCOOTER Wavy device which is registered with Registrar of Trade Mark and Copyright. The Company is taking appropriate legal action against all the persons who are infringing its trademark and copyright. The Company is also defending its right before the Hon’ble Courts and Tribunals, wherever the challenges against use of ‘Scooter’ and /or any other intellectual property rights of the Company have been made.

The Board is hopeful of disposal of the matter in favour of the Company.

MATERIAL CHANGES AND COMMITMENTS AFTER THE DATE OF CLOSE OF FINANCIAL YEAR 2017-18

There are no material changes and commitments affecting the financial position of company which have occurred between the end of the financial year to which the financial statement relates and the date of this report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Particulars relating to conservation of energy, technology absorption, foreign exchange earnings and outgo, as required to be disclosed under Section 134(3)(m) of the Act read with Rule 8 of the Companies (Accounts) Rules. 2014, as amended from time to time, are provided in the Annexure-VI to this report.

PARTICULARS OF EMPLOYEES

The details of top 10 employees in terms of remuneration drawn as per provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Disclosure pertaining to remuneration and other details as required under section 197(12) of the Companies Act, 2013, read with rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed herewith as Annexure-VII to this Report.

Further, In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, there is no employee in the company, which draws the remuneration in excess of the limits set out in the said rules.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management’s Discussion and Analysis Report for the year under review as stipulated under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed herewith as Annexure-VIII to this Report.

INFORMATION REQUIRED UNDER THE SEXUAL HARASSMENT OF WOMEN AT THE WORK PLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013

The Company has an effective system to redress complaints received regarding sexual harassment in line with the requirements of the Sexual Harassment of women at workplace (Prevention, Prohibition and Redressal) Act, 2013. All employees (permanent, contractual, temporary, apprentices and trainees) are covered under this policy.

The Company has not received any complaint of sexual harassment during the financial year 2017-18.

Further the Company has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of women at workplace (Prevention, Prohibition and Redressal) Act, 2013.

GENERAL

Your Director states 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:-

a) Change in share capital of the Company.

b) Issue of the equity shares with differential rights as to dividend, voting or otherwise.

c) Issue of shares (including sweat equity shares) to employees of the Company.

d) As there is no subsidiary or holding company of your company, so Managing Director and Whole Time Directors of the company does not receive any remuneration or commission from any of such companies.

e) 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.

f) The Company does not have any scheme of provision of money for the purchase of its own shares by employees or by trustees for the benefit of employees.

g) There is no subsidiary of company, so no policy on material subsidiary is required to be adopted.

h) No fraud has been reported by the Auditors to the Audit Committee or the Board which were committed against the company by officers or employees of the company.

i) Issue of Employee Stock Option Scheme to employees of the company.

Your Directors further state that:-

There is no change in the nature of business of the company during the financial year. ACKNOWLEDGEMENT

Your Directors would like to place on record their sincere appreciation for assistance and co-operation received from the Bankers, Vendors, Government Authorities, Customers and Member during the year under review. Your Directors also wish to place on record their deep sense of appreciation for committed services by the executives staff & workers of the Company and gratitude to the members for their continued support and confidence.

Place: Alwar By order of the Board of Directors

Date: 30.08.2018 For Vijay Solvex Limited

(Daya Kishan Data) (Vijay Data)

Whole Time Director Managing Director

DIN:01504570 DIN:00286492

Neelanchal 7, Shubham Enclave, Bhagwati Sadan,

Jamna Lal Bajaj Marg, C-Scheme, Swami Dayanand Marg,

Jaipur-302001 (Rajasthan) Alwar-301001 (Rajasthan)

स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `1008 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `538 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `379 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `656 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स ऑप्शंस में `1075 Cr की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `36 Cr की बिकवाली की
  • MS ON BPCL : Overweight रेटिंग, लक्ष्य `571/Sh
  • CS ON AARTI IND : Outperform रेटिंग, लक्ष्य `980/Sh
  • CS ON APOLLO HOSP : लक्ष्य `1,300 से बढ़ाकर `1,600/Sh
  • NOMURA ON ESSAR CASE : बैंकों की अब 90% तक रकम की रिकवरी संभव

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