CHALASANI HOSPITALS PRIVATE LIMITED
' CIN: U8511OAP2010PTCO6BZ6Z
Registered office: #50-53-14, Gurudwara Lane, Seethammadhara, Visakhapatnam -
530013, Andhra pradesh, India
Ph. No:0891-2535063 Email ID:
[email protected] DIRECTORS'REPORT
lo
The Members
Chalasani Hospitals Private Limited
Visakhapatnam.
Your Directors have pleasure in presenting the 12o Annual Report and the Audited
Financial
Statements of the Company for the financial year ended 31st Marc h, ZOZZ.
1. FINANCIALS, PERFORMANCE AND STATE OF AFFAIRS OF THE COMPANY
The company's financial performance for the year under review along with previous
year's figures is given hereunder:
Ru ees in Lakhs
Particulars Year ended Year
31.03.2022 ended
31.03.2021
Revenue from operations 7233.00 6,878.87
Other Income 46.13 95.55
Total lncome 7279.73 6,9L4.52
Expenditure 6337.26 6,372.58
Profit before Depreciation 94,..87 s41.94
Less: Depreciation 407.64 4,65.09
Profit Before Tax 534.22 76.85
Less: Provision for Tax 145.41 47.28
Net Profit / Loss after the Tax 388.81 29.57
2. REVIEWOFOPERATIONS@upeesinLakhs);
During the year under report, the Company has earned an income of Rs. 7279.13 as
compared to previous year's income of Rs. 6,9t4.52 and incurred an expenditure of Rs.
6337,26 as against previous year's expenditure of Rs, 6,372.58 The provisions for
Deprecation and lncome Tax (including Deferred Tax) provided during the year were
Rs.407.64 and Rs 145,41 respectively as compared to previous year's amounts of Rs.
465,09 and provision for Tax Rs. 47,28 respectively, Hence, during the year the
company has earned a Net profit of Rs. 388.81 as compared to the previous year Net
profit of Rs. 29.5i.
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The Board has taken steps for effective plannin& monitoring the policies and various
possible measures to control overheads and to earn profib in the coming years.
Further, the Board has also taken the required steps to extend the medical services to
some other potential places.
3. OUTLOOK&SCENARIO:
* For over 28 years of Queen's NRI Hospital has been serving the residents of Uttar
Andhra, partly Odissa and chattishghar with passion, commitment and dedication.
with NABH Accredation; keep on updating latest medical equipment as per the
' requiremenL The company offer personalized patient-centric tEeatment and care
with a comprehensive array of services and z4/l support and continuously endeavor
to uphold high ethical standards while striving to improve the quality of healthcare
delivery. Accordingly, today, the hospital is the choice for our community today.
Mission
a. To provide the most comprehensive healthcare services in a patient centric
manner
b' To continually evaluate, innovate and strive towards excellence in patient care,
research and training
c' To emphasize compassion, maintain the highest level of integrity and continue to
utilize all of our resources solely for betterment ofthe institution.
d. we constantly endeavor to provide our employees with a stimulating yet secure
w0rking environment where their individual talents are embraced and nurtured.
Vision
To be internationally recognized as an institute that provides qualitatively exceptional
yet affordable healthcare by 2030.
Values
Commitment: To our mission and our values
Integrity: To provide service in an ethical manner
Respect: For our patients and employees
Transparency: In our policies and management
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(v) Achievements during Financial Year: ZOZI-ZT
F We have also organized 50 CME's (Continuous Medical Education) programs, 75 free
medical camps and 50 health awareness talks at different places as a part ofbusiness
development and corporate social responsibility
F Up gradation of Executive rooms on 1st floor & New Excellance OpD Chambers.
a. A New unit started in the town of Jagadalpur, chattisgarh state & cheepurupalli
Vizianagaram.
4, EXTRACTOFTHEANNUALRETURN:
As required, pursuant to Section 92(3)ofthe companies Act, 2013 and Rule 1z(l] ofthe
companies (Management and Administration) Rules, 2014, an extract ofAnnual Return
in form MGT 9 as a part ofthis Annual Report is enclosed as ANNEXURE,
5.' NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW:
a) The Company has complied with the procedures relating to the Board Meetings.
b) The meetings are usually held at the Registered Office ofthe Company.
c) Draft Minutes are circulated to the Members ofthe Board for their comments and are
duly recorded in the concerned books.
MEETINGS OF THE BOARD OF DIRECTORS:
a During FinancialY ear 202L-22,05 (Five 0nly) Board Meetings were held.
b. The Dates of the Board Meetings are: !6.06.202!, 17.08.2021, O4.l 12021,
I 8.0 I .2022 and 24.02.2022.
c. The details of Directors, their attendance at Board Meetings and at the previous
Annual General Meeting ofthe Company are, given bdlow:
S Name of Director Category Board Whether present at
No. Meetings previous AGM held on
Attended 30.11.2021 and
Adiourned AGM held
on19.01.2022
1 Chalasani Director 5 Yes
Vijayalakshmi
2 Chalasani Saileesh Director 5 Yes
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6. CONSTITUTION OF THE BOARD OF DIRECTORS:
BOARD OF DIRECTORS:
The Board of Directors ofyour company consists ofDr chalasani vijaya Lakshmi and Dr
chalasani Saileesh. There is no change in directors of company during the financial
year.
INDEPENDENT DIRECTORS:
Being a Private Limited Company, the provisions relating to appointment of
Independent Director are not applicable under section 149(6J of companies Act, zoTz
and Companies Appointment and Qualification of Directors) Rules, 2014.
KEY MANAGERIAL PERSONNEL:
The provisions relating to appointment of Key Managerial personnel under Section 203
of the companies Act, 2013 and companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 are not applicable to the Company.
RETIREMENT BY ROTATION:
Being a Private Limited company, the provisions relating to appointment of Directors
by Retirement by Roadon are not applicable as per the provisions of Companies Act,
2073.
7, FORJT{AL ANNUAL EVALUATION:
Since the Company is neither a Listed Company nor a Public Company, the provisions of
Clause (p) to Sub-section (3) of Section 134 of the Companies Act, 2013 regarding a
statement relating to the Formal Annual Evaluation by the Board ofits own performance
and that of its Committees and individuat Directors are not applicable.
8. DIR-ECTORSRESPONSIBILITYSTATEMENT:
In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the
Board hereby submits its Responsibility Statement:-
(a) in the preparation ofthe Annual Accounts, the applipable Accounting Standards
had been followed along with proper explanation relating to material
departures;
(b) the Directors had selected such Accounting Policies and applied them
consistently and made ,udgments 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
ofthe Financial Year and ofthe profit and loss ofthe Company for that period;
(c) The Directors had taken proper and sumcient care for the maintenance of
adequate Accounting Records in accordance with the provisions of this Act for
safeguarding the assets ofthe Company and for preventing and detecting fraud
and other irregularities;
(d) The Directors had prepared the Annual Accounts on a Going Concern basis; and
(el 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.
9,. EXPI,/TNATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE
REMARKS OR DISCIIIIMERS MADE BY THE AUDITORS IN THEIR REPORTS UNDER
suB-sEcTroN 3(0(i) oF sEcTroN 134 OF THE COMPANIES ACT'2O13:
The Auditors' Report is self-Explanatory and does not require any comments from the
Board of Director.
10. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION
186 OF THE COMPANIES ACT, 2013:
As required under clause (g) to sub-section (3) of section 134 of the companies Act,
2013, the company has not given any Loans/ Guarantees during the year under section
186 ofthe companies Act,2013 except the existing investments which are within the
limits specified.
11. PARTICUUTRS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
REFERRED TO IN SUB-SECTTON (1) OF SECTTON 188 rN THE PRESCRTBED FORI!:
The company has not entered into transactions which attracts the provisions ofsection
(1) of Section 188 ofthe Companies Act, 2013 except those transactions entered into in
the ordinary course ofbusiness which are disclosed in the financial statements.
12. STATE OF COMPANY',S AFFATRS UNDER SUB-SECTTON 3(i) OF SECTION 134 OF THE
COMPANIES ACT'ZOI3:
A) BRIEF DESCRIPTION OF THE COMPANY WORXING DURING THE YEAR AND
PR"ESENT STATE OF COMPANY'S AFFAIRS:
Running the Multi-Specialty Hospital and providing health care services. Though the
income rwas increased than the previous year, the company ciuldn't eam more
profits than the previous year. Now, the Board has conceived plans to improve the
operations ofthe company and is hopeful to earn profit in coming years.
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B) CHANGE IN THE NATURE OF BUSINESS, IF ANY:
There are no changes in the nature ofbusiness ofthe company during the Financial
Year 202t-22.
13, THE AMOUNTS, IF ANY, WHICH IT PROPOSES TO, CARRY TO ANY RESERVES
UNDER SUB-SECTTON 30) oF sEcTroN 134 OF COMPANTES ACT,2013:
No specific reserve is considered necessary except proposed transfer of the profit to
General Reserve as mentioned in the Financial Statements.
14. DIVIDEND:
The Board has not recommended any dividend on Equity Shares ofthe company for the
Financial Y ear 2027-22
15. MATERIAL CHANGES AND COMMITMENTS IF ANY AFFECTING THE FINANCIAL
POSITION OF THE COMPANY OCCURR,ED BETWEEN THE END OF THE FINANCIAL
YEAR TO WHICH THIS FINANCIAL STATEMENTS RELATE AND THE DATE OF THE
REPORT:
No material changes and commitments affecHng the financial position ofthe company
occurred between the end of the Financial year to which this Financial statements
relate on the date ofthis Report.
16. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION IN SUCH MANNER AS
MAY BE PRESCRIBED UNDER SUB-SECTION 3(m) OF SECTTON 134 OF COMPANIES
ACT,2013r
The particulars as prescribed under Section 13a (3)(m) of the Companies Act, 2013
read with Companies (Accounts) Rules, 2014 regardini Conservation of Energy,
Technologr Absorption are provided as under:
CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION
1. The Company has access and implemented regarding conservation of enerry and
technolory absorption wherever applicable.
2. Your Directors have been constantly endeavoring towards conservation of power
and other rare resources and also have good access to latest and advanced
technologies.
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17, FOREIGN EXCHANGE EARNINGS AND OUTGO, IN SUCH MANNER AS MAY BE
PRESCRIBED UNDER SUB-SECTIoN 3(m) oF SECTTON 134 OF COMPANIES ACT,
2O13t
FOREIGN EXCHANGE EARNINGS /OUTGO
In accordance with the provisions of 13a (3J(m) ofthe companies Act, 2013 read with
Companies' (Accounts) Rules, 2014, the information relaHng to Foreign Exchange
Earnings and 0utgo is provided as under:
Particulars 202L-22 2020-21
Rs. Rs.
Foreign Exchange Earnings NIL NIL
Foreign Exchange Outgo NIL NIL
18. DISCLOSURES:
1. The company has noted the related disclosures relating to the affairs ofthe company
from time to time and also maintained the related Registers.
2' There were no strictures or penalties imposed by the concerned Authorities relating
to the affairs ofthe Company.
3. The Company'has complied with all applicable Accounting Standards in preparation
of its financial statements.
19. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGUL/TTORS
OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND
COMPANY'S OPERATIONS IN FUTURE:
There are no significant and material Orders passed by the Regulators or Courts or
Tribunals impacting the Going Concern status and Company's operatigns in future.
20, EMPLOYEERELATIONS:
The Company has recruited required personnel including Doctors, Nurses, Technicians
and professionals. Employee relations are cordial at all levels. Further, the Company
has been in touch relating to recruitment of required doctors, specialists and other
personnel from time to time as per the requirements of the Hospital.
2I, DEPOSITS:
The Company has not accepted any deposits within the meaning of Section 73 of the
Companies Act, 2013 read with the Companies (Acceptance ofDeposits) Rules, 2014.
22, CREDIT FACILITIES & GUARANTEE FACILITIES:
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The company has been availing credit & Guarantee Facilities from various Banks to
meet the business requirements from time to time.
23, INSURANCE:
All the assets ofthe company wherever necessary and to the extent required have been
adequately insured.
24, STATUTORYAUDITORS:.
At the Annual General Meeting held on 31.12.20 20, ttl/s nio a sHyeu, CHARTERED
ACCoUNTANTS, VISAKHAPATNAM (FRN: oo6186s), were appointed as staturory
Auditors of the company to hold office for 5 years till the conciusion of the Annuil
General Meering to be held in the calendar year 2025. As, ratification ofappointment of
Auditors at every Annual General lt4eeting is done away with vide notificadon dated May
7, 2018 issued by MCA, no resolution is proposed for ratification of appointment oi
Auditors.
M/s.RAO & SHYAM, CHARTERED ACCOUNTANTS, VTSAKHAPATNAM (FRN:
006186s) are continuing as the statutory Auditors of the company for the finincial
year 2022-23.
25. SHARE CAPITAL:
a. AUTHORISED SHARE CAPITAL:
The present Authorised Share Capital of the Company is Rs. 5,00,00,000/- (Rupees
Five Crores Only) as on 31.03.2022.
After the closure of the financial year, the Authorized Share Capital of the Company
has been increased hom Rs. 5,00,00,000/- (Rupees Five Crores Only) to Rs.
10,00,00,000/- (Rupees Ten Crores Only) at the EGM held on 23.06.2022.
b, ISSUEDAND PAID UP CAPITAI.:
The present Issued and Paid-up Share Capital of the Company is Rs. 496,95,100/-
(Rupees Four Crores Ninety Six Lakhs Ninety Five Thousand One Hundred Only) as
on3\.032022.
During the year the Company has not issued any Equity Shares.
c. BTIY BACK OF SECURITIES:
The Company has not bought back any ofits Securities during the year under review.
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d. SWEAT EQUITY:
The Company has not issued any Sweat Equity Shares during the year under review,
e, BONUS SHARES:
No Bonus Shares were issued during the year under review,
f. EMPLOYEES STOCK OPTION PUIN:
The Company has not provided any Stock Option Scheme to the Employees.
g. ISSUE OF EQUITY SHARES WITH DIFFERENTIAL RIGHTS:
The Company has not issued any equity shares with differential rights during the
year.
After the closure of the financial year,89,666 Equity Shares with differential righs
were allotted on 29.08.2022..
h, PROVISION OF MONEY BY COMPANY FOR PURCHASE OF ITS OWN SHARES BY
EMPLOYEES OR BY TRUSTEES FOR THE BENEFIT OF EMPLOYEES:
The Company has not provided any money for purchase of own Shares by Employees
or by Trustees for the benefits of Employees.
26. SUBSIDIARIES, JOIN VENTUR"ES AND ASSOCIATE COMPANIES:
The Company do'es not have Holding or Associate Company; but having a subsidiary
Company and the particulars as follows:
S. o. Name of the Company Holding/ o/o of Applicable
CIN/G]N Subsidiary/ Shares Section
Associate held
1 Vijayanagar Hospitals Subsidiary 7 4.82o/o Section 2(87)
Private Limited ofthe
u7 4L20 AP20L5PT C097 97 6 ' Companies
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27, PARTICUUTRSOFEMPLOYEES:
The particulars ofthe Employees who are covered by the provisions contained in Rule
5(2) and rule 5(3) of companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 are:
aJ Employed throughout the year -Nil-
b) Employed for part of the year -Nil-
28, INTERNALCONTROLSYSTEM:
The company is constantly endeavoring to improve the standards ofinternal controls
in
various areirs. The existing set up ofthe internal control system is commensurate with
the size ofthe operations & nature ofits business of the Company.
29. TRANSFER OF UNCLAJMED DIVIDEND / AMOUNTS TO INVESTOR EDUCATION AND
PROTECTION FUND:
Your company did not have any funds lying unpaid or unclaimed for a period of seven
years. Therefore, there were no funds which were required to be transferred to Investor
Education and Protection Fund (lEPFJ.
30, INDICATING DE"YELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT
POLICY FOR THE CoMPANY AS REQUIRED UNDER CLTUSE
(n) TO SUB-SECTION (3)
ofSECTION 134:
The Company does not have any Risk Management poliry as thq elements of risk
threatening the Company's existence are very minimal and except competition from
other hospitals. However, all the risks are discussed in the Board meeting whenever
required and care being taking by the board.
31. DISCOLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORIGLACE
(PREVENTION, PROHIBITION & REDRESSAL) ACT, 2O1,3"
1 The Company has always believed in providing a safe and harassment free
wor@lace for every individual working in premises and always endeavors to
create and provide an environment that is free from discrimination and
harassment including sexual harassment.
2 During the year ended 31 March, 2022, the Company has not received any
complaint pertaining to sexual harassment.
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32. DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS
CORPORATE SOCTAI RESPONSIBILITY INITIATIVES TAKEN DURING THE YEAR
UND-ER CLAUSE (o) TO SUB-SECTIoN (3) oF SECTIoN 134 oF coMPANIEs
AcT,
2013:
The provisions of section 135 of the companies Act, 2073 read with the companies
(corporate Social,Responsibiliry poliry) Rules, 2014, are not applicable to the company.
33. NOMINATION & REMUNERATION COMMITTEE:
Nomination & Remuneration committee pursuant to Section 17g Rule 6 of chapter XIt
is not applicable.
34. STAKEHOLDERSRELATIONCOMMITTEE:
stakeholders Relation committee pursuant to section 179(5) Rule 6 of chapter xll is
not applicable.
:
35. AUDIT COMMITTEE:
Audit committee Pursuant to section 177 Rule6 of chapt€f XII of the companies Act,
2013 is not applicable.
36, VIGILMECHANISMPOLICY:
The provisions ofSection 177 ofthe Companies Act, 2013 read with Rule 6 and 7 ofthe
Companies (Meetings of the Board and its Powers) Rules, 2013 is applicable to the
Company. The company has formulated the policy of Vigil Mechanism policy for
Directors and Employees to report genuine concerns.
37. SECRETARIALAUDITREPORT:
The provisions relating to Secretarial Audit under Section 204 of tire Companies Act,
2013 and Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014 are not applicable to the Company.
38, STATUTORYCOMPLIANCE:
The Company has complied and continues to comply with all the applicable provisions
relating to affairs ofthe company.
39. ANNUALGENERALMEETING:
The Annual General Meeting of the Company is scheduled to be held on 306 day of
September, 2022. The details ofthe Agenda and Resolutions to be passed were sent out
in the Notice given to Members.
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40, MAINTAINENCEOFCOSTRECORDS
The provisions of Section 148 of the companies Act, 2013 related to maintenance of
Cost Records are not applicable to the Company.
41. ACKNOWLEDGEMENTS:
Your Directors express their gratitude to the shareholders of the company for the
confidence reposed in the managemenL They wish to place on record their
appreciation of the whole-hearted assistance and co-operation received by the
Company from shareholders, bankers of the Company, Medical Equipment Suppliers,
State Government, central Government Departments & Authorities, undertakings, Local
Bodies, other Agencies, other corporate Bodies and look forward to their continued
support in future. Your Directors would also like to appreciate the sincere efforts and
services rendered by all Doctors, consultants, Nurses & related staffand also employees
of the Company, Thank to our professionals, advisors, well- wishers and persons
dealing with the company.
ror chatasani H
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Dr. Chalasani Vijayalakshmi
Director
DIN:029rt4565
Place : Visakhapatnam Dr. Saileesh Chalasani
Date : 05.09.2022. Director
DIN:03168499
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