Company Name Private Limited
PAN: AAAAA0000E | CIN: 00AAAAA0000EASD
DIRECTORS’ REPORT
To the members
Company Name Private Limited
Your Directors take pleasure in presenting the First Annual Report of your company
together with the Audited Accounts for the year ended 31st March, 2022.
1. FINANCIAL HIGHLIGHTS
The financial results of the company reveal that the company has earned a net
profit/(loss) (after Tax) of INR (000000)/- during the Financial Year.
The breakup of profit is given as follows:
Particulars As on 31/03/2022
Revenue from operations 0
Other Income 0
TOTAL REVENUE 0
LESS EXPENSES
Depreciation and amortization expense 0
Employee benefits expense 0
Other expense 0
TOTAL EXPENSES 0
Profit/(Loss) before prior period expenses & tax 0
Prior period expenses 0
Profit/(Loss) before tax 0
Current year tax 0
Deferred tax expense/(Income) 0
Profit/(Loss) after tax 0
No. of shares 0
Earnings Per Share 0
Proposed dividend 0
Dividend Distribution Tax 0
Profit brought forward 0
Balance carried to Balance Sheet 0
The directors are hopeful of better results in ensuing years.
2. STATE OF COMPANY’S AFFAIRS
During the current financial year, the company has made Net Profit/(Loss) of
(00000)/-
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Company Name Private Limited
PAN: AAAAA0000E | CIN: 00AAAAA0000EASD
3. DIVIDEND
No dividend was declared for the current financial year due to conservation of
profits.
4. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION &
PROTECTION FUND
The provisions of Section 125(2) of the Companies Act, 2013 do not apply as there
was no dividend declared and paid in last year.
5. MATERIAL CHANGES AND COMMITMENTS IF ANY AFFECTING THE FINANCIAL
POSITION OF THE COMPANY OCCURRED BETWEEN THE DATE OF BALANCE
SHEET AND THE DATE OF AUDIT REPORT
No significant material changes and commitments affecting the financial position of
the company occurrSed between the date of the balance sheet and the date of the
audit report.
6. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN
EXCHANGE EARNINGS AND OUTGO
The company is not engaged in any type of manufacturing activities. The
provisions of Section 134(m) of the Companies Act, 2013 in respect of
conservation of energy and technology absorption is not applicable to this
company for the period under review. There was no foreign exchange inflow or
outflow during the year under review.
7. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK
MANAGEMENT POLICY OF THE COMPANY
The Company does not have any Risk Management Policy as the elements of risk
threatening the Company’s existence are very minimal.
8. DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON
ITS CORPORATE SOCIAL RESPONSIBILITY INITIATIVES
The Company has not developed and implemented any Corporate Social
Responsibility initiatives as the said provisions are not applicable.
9. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER
SECTION 186 OF THE COMPANIES ACT 2013
There was no Loans, Guarantees or Investments made by the Company under
Section 186 of the Companies Act,2013 during the financial year under review and
hence the said provisions are not applicable.
10. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED
PARTIES
There was no contract or arrangements made with the related parties as defined
under Section 188 of Companies Act, 2013 during the year under review.
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Company Name Private Limited
PAN: AAAAA0000E | CIN: 00AAAAA0000EASD
11. EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR
ADVERSE REMARKS OR DISCLAIMERS MADE BY THE AUDITORS AND THE
PRACTICING COMPANY SECRETARY IN THEIR REPORTS
There was no qualifications, reservations or adverse remarks made by the either
by the Auditors or by the Practicing Company Secretary in their respective reports.
Therefore, there is no need for any clarification or any comment on Auditor’s
report.
12. COMPANY’S POLICY RELATING TO DIRECTORS APPOINTMENT, PAYMENT OF
REMUNERATION AND DISCHARGE OF THEIR DUTIES
The provisions of Section 178(1) relating to constitution of Nomination and
Remuneration Committee are not applicable to the Company and hence the
Company has not devised any policy relating to appointment of directors, payment
of Managerial remuneration, directors qualifications, positive attributes,
independence of directors and other related matters as provided under Section
178(3) of the Companies Act, 2013.
13. PARTICULARS OF EMPLOYEES
The Company did not employ any such person whose particulars are required to
be given under Rule 5(2) and (3) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules 2014. There is no employee who is
withdrawing remuneration more than 60 Lacs per annum, more than 5 Lacs per
month and more than remuneration of Managing Director or Whole Time Director
& holding 2% or more of equity share capital of the company.
14. ANNUAL RETURN
The extracts of Annual Return pursuant to the provisions of Section 92 read with
Rule 12 of the Companies (Management and Administration) Rules, 2014 is
furnished in Annexure (MGT 9) and is attached to this Report.
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Company Name Private Limited
PAN: AAAAA0000E | CIN: 00AAAAA0000EASD
15. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS
The details for the meetings held are as follows:
Sr. No. Date of Meeting No. of directors present
1 dd/mm/yyyy X
2 dd/mm/yyyy X
3 dd/mm/yyyy X
4 dd/mm/yyyy X
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to Section 134(3)(c) of the Companies Act, 2013, your directors confirm
that:
In the preparation of the accounts for the financial year ended 31st March 2021, the
applicable Accounting standards have been followed along with proper
explanations relating to material departures;
i. The directors have selected such accounting policies and applied them
consistently and make judgments and estimates that are reasonable and
prudent so as to give true and fair view of the state of affairs of the company
at the end of the said financial year and of the profit and loss of the company
for the said financial year;
ii. The directors have 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;
iii. The directors have prepared the accounts for the year ended 31 March
2021 on a 'going concern' basis.
iv. The directors have devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and
operating effectively.
16. HOLDING/SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES AND
THEIR PERFORMANCE
There is no Subsidiary company or Joint Venture or Associate Companies of the
Company.
17. ACCEPTANCE OF DEPOSITS
During the financial year, Company has not accepted any type of deposits. Neither,
any type of deposits of previous year is Unpaid or Unclaimed during the financial
year.
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Company Name Private Limited
PAN: AAAAA0000E | CIN: 00AAAAA0000EASD
18. STATUTORY AUDITORS
Auditors of the Company M/s XYZ & ASSOCIATES, Chartered Accountants, the first
auditor as appointed by the company will hold office till the conclusion of the first
annual general meeting as required under the provisions of Section 139(1) of the
Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014, the
company has received a written consent from M/s XYZ & ASSOCIATES, Chartered
Accountant to their re-appointment and a certificate, to the effect that their re-
appointment, if made, would be in accordance with the new Act and the Rules
framed there under and that they satisfy the criteria provided in section- 141 of
Companies Act, 2013. The Board recommends their appointment.
19. DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE AND PROVIDING VIGIL
MECHANISM
The provisions of Section 177 of the Companies Act, 2013 read with Rule 6 and 7 of
the Companies (Meetings of the Board and its Powers) Rules, 2013 is not
applicable to the Company.
20. CHANGES IN NATURE OF BUSINESS
There is no significant changes made in the nature of business of the company
during the financial year as mentioned in the memorandum of association of the
company.
21. SIGNIFICANT AND MATERIAL ORDERS PASSED BY REGULATORS/ COURTS/
TRIBUNALS
There are no significant and material orders passed by
Regulators/Court/Tribunals against the company.
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Company Name Private Limited
PAN: AAAAA0000E | CIN: 00AAAAA0000EASD
22. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE
FINANCIAL STATEMENTS
The Company has in place proper and adequate internal control systems
commensurate with the nature of its business, size and complexity of its
operations. Internal control systems comprising of policies and procedures are
designed to ensure liability of financial reporting, timely feedback on achievement
of operational and strategic goals, compliance with policies, procedure, applicable
laws and regulations, and that all assets and resources are acquired economically,
used.
23. SHARE CAPITAL
During the financial year, the Company had not issued any Equity Shares with
Differential rights, any Sweat Equity Shares and any Employee Stock Options.
24. DIRECTORS
A. Changes in Directors and Key Managerial Persons:-
There is no change in directors and Key Managerial Persons by way of
Appointment, Re-designation, Resignation, Death, Disqualification and
Variations made or Withdrawn, etc., of the company during the financial year.
B. Declaration by an Independent Director(s) and reappointment, if
any:-
The provisions of Section 149 pertaining to the appointment of Independent
Directors do not apply to our Company.
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Company Name Private Limited
PAN: AAAAA0000E | CIN: 00AAAAA0000EASD
25. MANAGERIAL REMUNERATION
No Details of Managerial Remuneration required to be Disclosed in Boards Report
as per Rule 5(1) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014.
26. TRANSFER TO RESERVES IN TERMS OF SECTION 134(3)(J) OF THE
COMPANIES ACT, 2013
The board does not proposed any amount to carry to any specific reserves.
27. SECRETRIAL COMPLIANCE CERTIFICATE
Secretarial Compliance Certificate under the Companies Act, 2013 has not been
obtained by the Company as it is not applicable.
28. ACKNOWLEDGEMENTS
The directors wish to thank and deeply acknowledge the co-operation, assistance
and support extended by the Central Government, company's bankers, business
associates, consultants, shareholders, dealers, buyers to your companies activities
during the year under review.
The directors also wish to place on record their appreciation for the all round co-
operation and contribution made by employees at all levels and other people
associated with the company and look forward for their continued support.
By order of the Board of Directors of
Company Name Private Limited
Director Name Director Name
dd.mm.yyyy Director Director
Place DIN: 0xxxxxx DIN: 0xxxxxx
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