To the Members of the Company,
Your Directors have immense pleasure in presenting the 47th Annual Report on the
business and operations of your Company along with Annual Audited financial Statements of
the company for the financial year ended March 31, 2022.
1. Financial Highlights
The highlights of the financial position for the year as compared to the corresponding
period in the previous year are given below;
|
Standalone |
Consolidated |
Particulars |
FY 2021-2022 |
FY 2020-2021 |
FY 2021-2022 |
FY 2020-2021 |
Revenue from Operations |
- |
- |
18.55 |
- |
Other Income |
98.39 |
95.84 |
79.84 |
95.84 |
Total Income |
98.39 |
95.84 |
98.39 |
95.84 |
Purchases |
- |
- |
- |
- |
Employee Benefit Expenses |
6.38 |
8.39 |
6.38 |
8.39 |
Administration and Other Expenses |
32.53 |
18.39 |
32.53 |
18.39 |
Sub-Total |
38.91 |
26.78 |
38.91 |
26.78 |
Profit before Interest, Depreciation and Tax |
59.48 |
69.06 |
57.45 |
51.69 |
Depreciation and Amortization Expense |
- |
- |
- |
- |
Profit before Interest and Tax |
59.48 |
69.06 |
172.23 |
151.13 |
Finance Cost |
2.03 |
17.38 |
2.03 |
17.38 |
Profit Before Tax & Extraordinary Items |
57.45 |
51.69 |
57.45 |
51.69 |
Tax Expense |
|
|
|
|
-Current Tax |
14.85 |
13.33 |
14.85 |
13.33 |
-Deferred Tax Liability/(Assets) |
-.73 |
.23 |
-.73 |
.23 |
Net Profit for the Year |
41.87 |
36.60 |
(1.97) |
151.93 |
2. Review of operations and affairs of the Company:
During the year under review, the Company has earned a profit before Interest,
Depreciation & Tax of Rs. 59.48 lacs as compared to profit before Interest,
Depreciation & Tax of Rs. 69.06 lacs in previous year. The net profit for the year
under review has been Rs. 41.87 lacs as compared to the previous year net profit of Rs.
36.60 lacs. Your Directors are continuously looking for avenues for future growth of the
Company in other business opportunity.
3. Share Capital
The paid up equity share capital of the Company as on March 31, 2022 was Rs.
76,842,370. During the year under review, the authorized and paid-up share capital of the
Company remain unchanged. The Company has not issued shares with differential voting right
neither granted any stock options nor sweat equity shares during the financial year under
review.
4. Dividend:
In order to preserve the funds for further diversification and conserve the resources
for future growth of the Company, the Board of Directors of the Company do not recommend
any final dividend for the Financial Year 2021-22.
5. Transfer to Reserves:
The company has not proposed to transfer any amount to the general reserves during the
financial year under review.
6. Board of Directors & Key Managerial Personnel
Mr. Avinash Bajoria (DIN: 01402573) and Mrs. Shashi Tibrewal (DIN: 06912179) has been
ceased to be Director of the company w.e.f. May 13, 2022, June 13, 2022 respectively due
to resignation. The Board places on record its appreciation for invaluable contribution
and guidance during the tenure Further, Mrs. Puja Bajoria (DIN: 07018123) was appointed as
Chairperson cum Managing Director of the company w.e.f. December 29, 2020 by the
shareholders of the company in 46 Annual General Meeting of the company.
Mr. Ashutosh Bajoria (DIN : 01399944) has been appointed as Additional Director of the
company w.e.f. February 15, 2022 by the Board of Directors of the company to hold the
office up to date of the ensuing annual general meeting of the company. Further the board
of Directors based on recommendation of the Nomination and Remuneration Committee has
recommended the appointment of Mr. Ashutosh Bajoria (DIN: 01399944) as Director of the
company w.e.f. September 30, 2022 to the shareholders of the company.
Woman Director
The Company have Mrs. Puja Bajoria (DIN: 07018123) as Woman Director in the Board of
the Company as per the requirement of Section 149 of the Companies Act, 2013 read with
Rule 3 of the Companies (Appointment and Qualification of Directors) Rules, 2014.
7. Director retire by rotation
In accordance with the provisions of the Companies Act, 2013 and the Articles of
Association of the Company, Mrs. Puja Bajoria (DIN: 07018123), Director of the Company
shall retire by rotation at the ensuing Annual General Meeting and being eligible has
offered herself for re-appointment. The Board and Nomination and Remuneration Committee
recommended his re-appointment to the shareholders of the Company at the ensuing Annual
General Meeting.
8. Deposits:
During the year under review, your Company has not accepted any deposit covered under
Chapter V of the Act and neither has accepted any deposits which are not in compliance
with the requirements of Chapter V of the Act; and within the meaning of Section 73 and 74
of the Companies Act, 2013, read with the Companies (Acceptance of Deposits) Rules, 2014.
There are no outstanding deposits as on 31st March, 2022.
9. Listing of Equity Shares
The equity shares of the Company are listed on BSE Limited and the Annual Listing Fee
for the Financial Year 2021-22 has been duly paid.
10. Particulars of loans, guarantees or investments:
Loans and investments covered under Section 186 of the Companies Act, 2013 form part of
the notes to the financial statements provided in this Annual Report. The loans were
provided to meet the working capital requirements.
Further it is informed that the Company has neither given any guarantees nor provided
any security during the Financial Year under review.
11. Particulars of contracts or arrangements made with related parties:
All Related Party Transactions entered during the year were in the ordinary course of
business and on arm's length basis. The Company had not entered into any contract,
arrangement and transaction with related party(ies) which could be considered material in
accordance with the policy of the Company on materiality of related party transactions.
Accordingly, the disclosure of Related Party Transactions as required under Section 134
(3) (h) of the Companies Act, 2013 in Form AOC -2 is not applicable.
The policy on materiality of related party transactions and dealing with related party
transaction as approved by the Board may be accessed on the Company's website h
ttp://www.bkn.bajoriagroup.in/ViewPolicies.aspx
12. Management's Discussion and Analysis:
The Management Discussion and Analysis Report of the financial conditions and results
of operations of the Company for the year under review, as required under regulation 34
(2) (e) read with Schedule V of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) is
presented in the separate section forming part of this Annual Report as Annexure
IV.
13. Director's Responsibility Statement:
The Board of Directors acknowledge the responsibility for ensuring compliance with the
provisions of Section 134(3) (c) read with Section 134(5) of the Companies Act, 2013, in
preparation of annual accounts for the financial year ended 31st March, 2022 and state
that:
i. In the preparation of the Annual Accounts for the Financial Year ended 31st March,
2022, the applicable accounting standards had been followed with proper explanation
relating to material departures.
ii. The Directors had selected such accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the Company at the end of the financial year and of
profit and loss of the Company for that period.
iii. The Directors had selected such accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the Company at the end of the financial year and of
profit and loss of the Company for that period.
iv. The Directors had 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.
v. The Directors had prepared the annual accounts for the financial year ended 31st
March, 2022 on a going concern basis.
vi. The Directors had laid down proper internal financial controls to be followed by
the company and that such internal financial controls are, adequate and are operating
effectively.
vii. That 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.
14. Recommendations of the Audit Committee:
During the year under review, all the recommendations made by the Audit Committee were
accepted by the Board.
15. Human Resource Management:
To ensure good human resources management at Beekay Niryat Limited, we focus on all
aspects of the employee lifecycle. This provides a holistic experience for the employee as
well. During their tenure at the Company, employees are motivated through various
skill-development, engagement and volunteering programs. All the while, we create
effective dialogs through our communication channels to ensure that the feedback reach the
relevant teams, including the leadership.
16. Particulars of employees:
Information pertaining to remuneration and other details as required under Section
197(12) of the Companies Act, 2013 read with Rule 5(1), 5(2) & 5(3) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended from time to
time has been given as Annexure II which forms a part of this Report.
Remuneration Paid to Managing Director during 2021-22 (In Rupees) :-
Name of the Director |
Salaries and Allowances |
Perquisites |
Company's Contribution to PF |
Commission & Sitting Performance linked Fees incentives |
Total |
Mrs. Puja Bajoria |
NIL |
N |
IL |
N IL |
N IL |
i. None of the Directors had the pecuniary relationship with the company. ii. The
non-executive Directors of the company are not paid any remuneration during the year
2021-22. iii. The company enters into service contracts with all executive directors till
the duration of their tenure. The services of the Executive Directors may be terminated by
either party, giving the other party three months' notice or the company paying three
months' salary in lieu thereof. There is no separate provision for payment of severance
fees. iv. The company does not have any stock option/Employees Stock Option Scheme.
There are no employees who were in receipt of remuneration in excess of the ceiling
prescribed in the Rule 5(2) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014.
17. Corporate Governance:
Corporate governance is an ethically driven business process that is committed to
values aimed at enhancing an organization's brand and reputation. This is ensured by
taking ethical business decisions and conducting business with a firm commitment to
values, while meeting stakeholders' expectations. At Beekay Niryat Limited, it is
imperative that our company affairs are managed in a fair and transparent manner. This is
vital to gain and retain the trust of our stakeholders.
The Company is committed to maintain the highest standards of corporate governance and
adhere to the corporate governance requirements set out by SEBI. The Company has also
implemented several best corporate governance practices as prevalent globally.
Pursuant to the provisions of Regulation 15 (2) (a) of the Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,
compliance with the provisions of Regulation 17, 18, 19, 20, 21,22, 23, 24, 25, 26, 27 and
clauses (b) to (i) of sub-regulation (2) of regulation 46 and para C , D and E of Schedule
V of Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (Listing Regulations) were not applicable on the company
during the financial year 2021-22. Consequently, the Compliance Report on Corporate
Governance as stipulated under Schedule V of the Listing Regulations does not form part of
this Annual Report for the Financial Year 2021-22. The declaration of non-applicability of
corporate governance from Managing Director is annexed herewith as Annexure-
V.
18. Auditors' certificate on Corporate Governance:
Pursuant to the provisions of Regulation 15 (2) (a) of the Securities and Exchange
Board of India (Listing Obligations and
DisclosureRequirements)Regulations,2015,compliancewiththeprovisionsofRegulation17, 17A,
18,19,20,21,22,23,24, 24A, 25,26, 27 and clauses (b) to (i) of sub-regulation (2) of
regulation 46 and para C , D and E of Schedule V of Securities and Exchange Board of
India(Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing
Regulations) were not applicable on the company during the financial year 2021-22.
Consequently, the Auditors' Certificate on Corporate Governance as stipulated under
Schedule V of the Listing Regulations do not form part of this Annual Report for the
Financial Year 2021-22.
19. Details with regards to meeting of Board of Directors of the Company:
The Board met 7 (Seven) times during the financial year 2021-22. The meetings were held
on June 30, 2021; July 24, 2022; August 13, 2022; September 04, 2021; November 12, 2022;
February 14, 2022; March 23, 2022. The intervening gap between any two meetings was within
the time period and quorum at these meetings was in conformity with the provisions of the
Companies Act, 2013 and Listing Regulations and the Secretarial Standard-1 on Board
Meetings issued by the Institute of Company Secretaries of India.
20.1 Separate Meeting of Independent Directors:
Independent Director plays a pivotal role in governance process of the Board and
Schedule IV of the Companies Act 2013 and rules made thereunder mandates that the
Independent Directors of the Company should hold at least one meeting in a year without
the attendance of Non-Independent Directors.
The Independent Directors met once during the financial year ended 31st March, 2022
i.e. on February 14, 2022 without the attendance of Non-Independent Directors in an
informal and flexible manner to enable the Independent Directors to discuss matters
pertaining to, inter alia, evaluation of performance of Non-Independent Directors, the
Board as a whole and evaluation of performance of the Chairperson of the Company, taking
into account the views of Executive Directors and Non-Executive Directors. The Independent
Directors also reviewed the quality, quantity and timeliness of the flow of information
between the Company Management and the Board and its' Committees which is necessary to
effectively and reasonably perform and discharge their duties.
20. Other disclosures
As per declaration received from Independent Directors they meet the criteria of
independence as laid down under Section 149(6) of the Companies Act, 2013 and have
complied with Rule 6 of the companies (Appointment and Qualification of Directors) Rules,
2014, as amended as on date. As per evaluation done by the Nomination and Remuneration
Committee and by the Board of all the Independent Directors by considering the parameters
such as whether the Directors uphold ethical standards of integrity and probity, the
ability of the directors to exercise objective and independent judgment in the best
interest of Company, the level of confidentiality maintained, adherence to the applicable
code of conduct for Independent Directors and their role in bringing independent judgment
during Board deliberations on strategy, performance, risk management, expertise and
experience etc. all the Independent Directors have maintained the integrity, expertise and
have vast experience in the industry.
All the Independent Directors have registered themselves in the Independent Directors
data bank and all Independent directors of the company has exempted to pass
self-assessment test so no need to pass self-assessment test by the independent directors
of the company as conducted by the IICA . They possess required qualification, skills,
expertise and experience to be appointed as Independent Directors of the Company.
Moreover, the independent directors have complied with the code of conduct as prescribed
in Schedule IV to the Companies Act, 2013.
During the reporting period, none of the Directors of the Company are disqualified in
terms of sub-section (2) of Section 164 of the Companies Act, 2013.
The Company has devised the Terms and Conditions for appointment of Independent
Directors available on the following web link h ttp://www.bkn.bajoriagroup.in/Conduct.aspx
Code of Conduct of Independent Directors available on the following web link
http://www.bkn.bajoriagroup.in/Conduct.aspx
21. Familiarization Programme for Independent Directors
In compliance with the requirements of SEBI (Listing Obligation and Disclosure
Requirements) Regulation, 2015, the Company has put in place a familiarization programme
for Independent Directors as a guide for Independent Directors from time-to-time for
better understanding of the Company's operations. The details of such familiarization
programmes for Independent Directors are posted on the website of the Companyh
ttp://www.bkn.bajoriagroup.in/Conduct.aspx
22. Committees of Board of Directors:
The Company's governance structure is based on the principles of freedom to the
executive management within a given framework to ensure that the powers vested in the
executive management are exercised with due care and responsibility so as to meet the
expectation of all the stakeholders. In line with these principles and the Companies Act,
2013, the Board has formed two committees: 1. the Audit committee and 2. the Nomination
and Remuneration committee As per the provision of Section 178 (5) and Regulation 15 of
SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, formation of
Stakeholders Relationship Committee is not mandatory for the Company and hence it is not
formed.
The composition of the committees and compliances, as per the applicable provisions of
the Act and Rules and SEBI (LODR) Regulations, 2015, are as follows:
Name of the Committee |
Name of the Company Member |
Position in the Committee |
|
Mr. Pratap Kumar Mondal ([DIN: 06730854] |
Chairman |
Audit Committee |
Mr. Umesh Joshi [DIN: 03385578]* |
Member |
|
Mrs. Shashi Tibrewal [DIN: 06912179] |
Member |
During the year, the committee met four (4) times on 30.06.2021; 13.08.2021; 12.11.2022
and 14.02.2022.
Name of the Committee |
Name of the Company Member |
Position in the Committee |
|
Mr. Umesh Joshi [DIN: 03385578] |
Chairman |
Nomination and Remuneration Committee |
Mr. Pratap Kumar Mondal [DIN: 06730854] |
Member |
During the year, the committee met three (3) times on 31.05.2021, 04.09.2021 and
15.02.2022. |
Mrs. Shashi Tibrewal[DIN: 06912179] |
Member |
24. Performance Evaluation of the Board, its Committees and individual Directors
In terms of requirements of Listing Regulations and provisions of the Companies Act,
Nomination cum Remuneration Committee of the Board of Directors of the Company specified
the manner for effective evaluation of performance of Board, its Committees and Individual
Directors. Based on the same, annual evaluation of its own performance, performance of its
Committees, Individual Directors including Independent Directors was carried out during
the reporting period. The Company had adopted the evaluation parameters as suggested by
ICSI and SEBI with suitable changes from Company's perspective.
The Board has carried out an annual evaluation of its own performance and that of its
Committees as well as performance of the Directors individually including Independent
Directors (excluding the director being evaluated) has been made. Performance evaluation
of Directors was carried out by Board and Nomination and Remuneration Committee on
parameters such as appropriateness of qualification, knowledge, skills and experience,
time devoted to Board, deliberations and participation level in board functioning, extent
of diversity in the knowledge and related industry expertise, attendance and
participations in the meetings and workings thereof and Initiative to maintain high level
of integrity and ethics and the same was apprised to the Board of Directors.
Independent Directors had carried out performance evaluation of Non-Independent
Directors in their separate meeting, the Board as a whole and performance evaluation of
Chairman was carried out, taking into account the views of Executive and Non-Executive
Directors.
The performance of Committees were evaluated on parameters such as whether the
Committees of the Board are appropriately constituted, have appropriate number of meetings
held each year to accomplish all of its responsibilities, maintain the confidentiality of
its discussions and decisions, conduct self-evaluation at least annually, make periodical
reporting to the Board along with its suggestions and recommendations.
Independent Directors' performance evaluation was carried out on parameters such as
whether the Directors uphold ethical standards of integrity and probity, the ability of
the directors to exercise objective and independent judgment in the best interest of
Company, the level of confidentiality maintained, adherence to the applicable code of
conduct for Independent Directors and their role in bringing independent judgment during
Board deliberations on strategy, performance, risk management etc.
The Board/Directors expressed their satisfaction with the evaluation process.
25. Statutory Auditors:
M/s. R P Khandelwal & Associates, Practicing Chartered Accountants, Jaipur having
Firm Registration No: 001795C were appointed as Statutory Auditors of your Company at the
45th Annual General Meeting to hold office for a term of 5 consecutive Financial Years in
place of M/s. RANKS & Associates, Chartered Accountants till the conclusion of 49th
Annual General Meeting to be held in the year 2025. Further, M/s. R P Khandelwal &
Associates, Chartered Accountants have confirmed their consent and eligibility under the
provisions of the Companies Act, 2013 to act as such.
The Auditor's report does not contain any reservation, qualification or adverse remark.
Information referred to in the Auditor's Report are self-explanatory and do not call for
any further comments.
S. No. Auditor's opinion |
Management Reply |
1. Non-Current Investments includes: |
The Company is in the process of Converting theses shares in the name of the Company
at its earliest and then proceed to demat these shares. |
i Shares held, quoted and in physical form having market worth Rs. 1.15 lacs are not
held in the name of the Company. This is contravention to section 187 of the Companies
Act, 2013. |
|
26. Secretarial Auditor:
Pursuant to the provisions of section 204 of the Companies Act, 2013 and the rules made
thereunder, Mrs. Ankita Nevatia, Proprietor at M/s. Ankita Nevatia & Co., Practicing
Company Secretaries having ICSI Membership No. FCS 8510 and C.O.P. No. 9709 was appointed
as Secretarial Auditor to conduct secretarial audit of the Company for the financial year
2021-22. The Secretarial Audit Report for the financial year 2021-22 is attached herewith
as Annexure I along with Annexure A to this report. The report does not
contain any reservation, qualification or adverse remark. Information referred to in the
Secretarial Auditor Report are self-explanatory and do not call for any further comments.
27. Internal Auditor:
M/s Ashish NK Agrawal & Associates, Chartered Accountants, Jaipur performed the
duties of Internal Auditors of the Company for 2021-22 and their report is reviewed by the
Audit Committee of the company on Quarterly intervals.
28. Internal Control System
The Company has adequate internal control system to safeguard the Company's assets from
any loss or damage, to control cost, prevent revenue loss and required financial and
accounting controls and to effectively implement the applicable accounting standards.
29. Risk Management Policy:
In compliance with the applicable provisions of Companies Act, 2013, the Board has
framed and adopted the Risk Management Policy of the company in order to ensure that the
Company's affairs shall be carried out in a sound and prudent manner by managing its
business, operating and financial risk by adopting appropriate risk identification,
assessment, and control and mitigation measures.
30. Vigil Mechanism/ Whistle Blower Policy:
The Company is committed to adhere to the highest standards of ethical, moral and legal
conduct of business operations. To maintain these standards, the Company encourages its
directors and employees who have concerns about suspected misconduct to come forward and
express these concerns without fear of punishment or unfair treatment. Your Company has
established a vigil mechanism for grievances Redressal of the Directors and employees of
the Company which will help in reporting genuine concerns or grievances of Directors and
employees, actual or suspected fraud and it provides adequate safeguards against
victimization. The Whistle Blower shall also have right to access to the Chairman of the
Audit Committee directly in exceptional cases. The Whistle Blower Policy is available on
our website h ttp://www.bkn.bajoriagroup.in/ViewPolicies.aspx
During the year under review, the Company has not received any complaint under this
policy.
31. Details of Subsidiaries, Associates & Joint Venture
The company does not have any Subsidiary, Associates or Joint Venture Companies.
32. Details of policy developed and implemented by the company in its Corporate Social
Responsibility initiatives taken during the year:
The Company has not developed and implemented any Corporate Social Responsibility
initiatives as the company does not fall under the ambit as provided under Section 135 of
the Companies Act, 2013 read-with Rules made thereunder.
33. Details of fraud reports by auditors under sub-section (12) of section 143 of
Companies Act, 2013
As specified under Section 143 (12) of Companies Act, 2013 including any statutory
amendments or modifications, if any, the auditor of the company has not reported any fraud
in the course of the performance of his duties as auditor.
34. Extract of Annual Return:
In accordance with the provisions of Section 92(3) and Section 134(3)(a) of the
Companies Act, 2013 read with Rules 12(1) of the Companies (Management and Administration)
Rules, 2014, the Annual Return of the Company is uploaded on the website of the Company
i.e. http://www.bkn.bajoriagroup.in/AnnualReport.aspx
35. Significant and Material Orders passed by the Regulators or Courts:
There are no significant and material orders passed by the regulators or courts or
tribunals impacting the going concern status of the Company and Company's operations in
future.
36. Disclosure under the Sexual Harassment of Women at workplace (Prevention,
Prohibition and Redressal) Act, 2013:
The Company has in place Prevention of Sexual Harassment at Workplace - Policy in line
with the requirements of the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013. All employees (permanent, contractual, temporary and
trainees) are covered under this policy. Further, it is hereby stated that the company has
complied with provisions relating to the constitution of Internal Complaints Committee
which is responsible for redressal of complaints related to sexual harassment at the
workplace. During the period under review, no complaint had been received under the Act.
The policy is available on the Company's website at the
http://www.bkn.bajoriagroup.in/ViewPolicies.aspx No. of Complaints received: NIL
No. of Complaints resolved: NIL No. of Complaints pending: NIL
37. Maintenance of Cost Records:
Maintenance of cost records as specified by the Central Government under sub-section
(1) of section 148 of the Companies Act, 2013, is not applicable to the Company.
38. Material Changes and Commitments, affecting the financial position of the company
between the end of financial year and the date of this report:
The COVID-19 virus has shattered the world economy. The industry in general will have
to brace itself for the economic shocks of such nature. The Companies will have to prepare
contingency plans such as work from home, enhanced safety measures, strategies for
continuity of business and other affairs. The Company has taken necessary steps in terms
of devising plans for mitigating such risk. There were no other material changes and
commitments affecting the financial position of the Company between end of the Financial
Year and the date of this report.
39. Prevention of Insider Trading:
The Company has also adopted a code of conduct for prevention of insider trading. All
the Directors, senior management employees and other employees who have access to the
unpublished price sensitive information of the Company are governed by this code.
During the year under Report, there has been due compliance with the said code of
conduct for prevention of insider trading. The Board has already adopted a revised Code of
Prevention of Insider Trading based on the SEBI (Prohibition of Insider Trading)
Regulations, 2015. The same has been placed on the website of the Company h
ttp://www.bkn.bajoriagroup.in/ViewPolicies.aspx
40. Green Initiative for Paperless Communication
Ministry of Corporate Affairs ("MCA"), Government of India has announced
"Green Initiative in Corporate Governance" by allowing Companies to send Notices
/ Documents / Annual Reports and other communication to its shareholders by electronic
mode i.e. by e-mail.
In line with the initiatives taken by MCA, BEEKAY NIRYAT LIMITED proposes to send
documents such as Notices of General Meeting(s), other Notices, Annual Report and all
other communications to its Shareholders through electronic mode i.e. on the e-mail
address provided by you.. To support this green initiative in full measure, members who
have not registered their e-mail addresses so far, are requested to register their e-mail
addresses, in respect of electronic holdings with the Depository through their concerned
Depository Participant. Members who hold shares in physical form are requested to fill in
the Registration form which can be obtained from Company's Registrar Beetal Financial
& Computer Services Pvt. Ltd.
Please note that all such documents shall be made available on the Company's website
and the same shall also be kept open for inspection at the Registered Office of the
Company during the business hours.
41. Details of application made or proceeding, pending under Insolvency and Bankruptcy
Code 2016:
During the year under review, there were no application made or proceeding pending in
the name of the company under the Insolvency and Bankruptcy Code 2016.
42. Details of difference between valuation amount on one time settlement and valuation
while availing loan from banks and financial institution:
During the under review, there has been no one time settlement of loan taken from banks
and financial institution.
43. The conservation of energy, technology absorption, foreign exchange earnings and
outgo:
The particulars as prescribed under Sub Section 3 (m) of Section 134 of the Companies
Act, 2013, read with the Companies (Accounts) Rules, 2014 are enclosed as Annexure VI to
this Board's Report.
44. Secretarial Standards
Your Directors states that they have devised proper systems to ensure compliance with
the provisions of all applicable Secretarial Standards and that such system are adequate
and operating effectively and the applicable Secretarial Standards have been duly complied
by your Company.
45. Policy on Directors' Appointment and Remuneration:
Your Company has a well-de ned policy for selection, appointment and remuneration of
the Directors, Key Managerial Personnel and Senior Management. The main objective of the
said policy is to ensure that the level and composition of remuneration is reasonable and
sufficient to attract, retain and motivate the Directors, Key Managerial Personnel and
Senior Management employees. The web link of the policy is
http://www.bkn.bajoriagroup.in/ViewPolicies.aspx
The Nomination and Remuneration Policy of Directors, Key Managerial Personnel and
Senior Management employees includes the criteria for determining qualifications, positive
attributes, independence of director and other matters as per section 178(3) of the
Companies Act, 2013 is stated in the Annexure III which form part to this
report.
46. ACKNOWLEDGEMENT:
The Board of Directors expresses their gratitude and its appreciation to the
cooperation and support of the Company's Bankers, Government Departments & Other
Agencies. The Board also records its deep appreciation of the creditable services rendered
by the Company's employee at all levels.
By order of the Board of Directors |
|
For BEEKAY NIRYAT LIMITED |
|
Sd/- |
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PUJA BAJORIA |
ASHUTOSH BAJORIA |
Chairperson cum Managing Director |
Director |
(DIN: 07018123) |
(DIN: 01399944) |
Address: 404, Nemi Sagar Colony, Queens Road, |
Address: 404, Nemi Sagar Colony, Queens Road, |
Vaishali Nagar, Jaipur 302021(Raj.) |
Jaipur 302021(Raj.) |
Date: 06.09.2022 |
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Place: Jaipur |
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