Dear Shareholders,
The Directors present this 40th Annual Report together with
the Audited Statement of Accounts for the financial year ending
March 31, 2025.
FINANCIAL RESULTS AND OPERATIONS performance of your Company for
the year ended March 31, 2025, is tabulated below: Thefinancial
(Amount in Lakhs)
Particulars |
Standalone |
Consolidated |
|
2024-25 |
2023-24 |
2024-25 |
2023-24 |
| Net Sales /Income from Business Operations |
2306.96 |
1643.88 |
2871.57 |
1291.67 |
| Other Income |
58.17 |
7.67 |
58.42 |
853.87 |
Total Income |
2365.13 |
1651.55 |
2929.99 |
2145.54 |
| Financial Costs |
1063.08 |
741.64 |
1079.62 |
755.27 |
| Provision for impairment on financial
Instruments |
206.37 |
65.31 |
206.37 |
65.31 |
| Loss in fair value Measurement |
- |
- |
- |
- |
| Purchase of Stock in trade |
- |
- |
- |
- |
| Cost of Material Consumed |
- |
- |
12.55 |
104.15 |
| Changes in Inventories and stock in trade |
- |
- |
0.56 |
5.15 |
| Employee Benefit Expense |
75.52 |
77.50 |
89.49 |
96.06 |
| Depreciation and Amortization Expense |
75.73 |
39.47 |
80.93 |
52.48 |
| Other Expenses |
253.02 |
140.93 |
391.78 |
168.87 |
Total Expenses |
1673.72 |
1064.86 |
1861.30 |
1247.28 |
Profit before Exceptional items |
691.40 |
586.70 |
1068.69 |
898.26 |
| Add: Exceptional items |
- |
- |
- |
- |
Net Profit Before Tax |
691.40 |
586.70 |
1068.69 |
898.26 |
| Less: Current Tax |
250.28 |
183.74 |
330.78 |
271.22 |
| Less: Deferred Tax liability/assets) |
(98.65) |
(1.04) |
(85.42) |
(8.59) |
Profit for the Period |
539.77 |
403.99 |
823.33 |
635.63 |
Other Comprehensive Income/(loss) |
|
|
|
|
(A) items that will not be
re-classified to profit & loss (net of tax effect) |
6.70 |
(77.74) |
6.70 |
(77.74) |
| (B) Income Tax effect on herein above (net of
tax effect) |
- |
- |
- |
- |
Total other Comprehensive Income |
6.70 |
(77.74) |
6.70 |
(77.74) |
Total Comprehensive Income/(Loss) for the
period |
546.47 |
326.25 |
830.03 |
557.89 |
| Profit attributable to Equity Holders of the
Parent |
- |
- |
840.27 |
646.77 |
Profit attributable to Equity
Holders to Non-Controlling In - terest |
- |
- |
(16.94) |
(11.15) |
Basic EPS |
0.11 |
0.10 |
0.17 |
0.18 |
During the year under review, the Company achieved a turnover of Rs.
2,306.96 Lakhs as against Rs. 1643.88 Lakhs for previous year whereas, the profit of the
Company for the period under review are Rs. 539.77 Lakhs as compared to profit of the
company Rs. 403.99 Lakhs in the previous year.
On consolidated basis, the Company recorded a turnover of Rs. 2871.57
Lakhs during the financial year 2024-2025 and achieved Net Profit of Rs. 823.33 Lakhs for
the said financial year.
Your Company has managed to book good number of profits during the
period under review and your management is optimistic to back on track in near future and
register good volumes with profitability.
BUSINESS OVERVIEW
Your Company is currently engaged in NBFC and Financial activities. The
Company intends to continue focusing on NBFC activities including financing,Inter-
corporate Investments & Capital Market activities. The Company continues to enhance
its business operations by ensuring that our network of customers increases through our
marketing efforts. loan book by strategically focusing on adjacent high growth and
profitable lending Weintendtoremaindiversified businesses and further expand our lending
and other businesses. We intend to continue to focus on developing a diversified funding
model to achieve optimal cost of funds while balancing liquidity and concentration risks.
As our cost of borrowings is determined by our financial discipline and business
performance, we intend to source particular, with respect to our credit business, a
decrease in the cost of borrowings will enable us to price our products in a more
competitive manner. We intend to further diversify and strengthen our profile, resources.
We intend to continue to grow our loan portfolio by expanding our
network through the addition of new branches. A good reach to customers is very important
in our business. Increased revenue, profitability and visibility are the factors that
drive the branch network. Our strategy for branch expansion includes further strengthening
our presence in various parts of India by providing higher accessibility to customers.
TRANSFER TO RESERVE
Under section 45-IC (1) of Reserve Bank of India (‘RBI') Act,
1934, non-banking financialcompanies (‘NBFCs') are required to transfer a sum
not less than 20% of its net profit every year to reserve fund before declaration of any
dividend. Accordingly, the ‘Company has transferred a sum of Rs. 107.95 Lakhs to its
reserve fund.
Also, the company has pursuant to Notificationof Reserve Bank of India
dated January 17, 2011, vide Notification
DNBS.PD.CC. No.207/03.02.002/2010-11 for making the ‘Provision of
0.25% for Standard Assets of NBFCs', the Company has transferred a sum of Rs. 51.84
Lakhs i.e., 0.25% on the Standard Assets of the Company under the Other Non-Financial
Liabilities named "Provision for Bad and Doubtful Debts". Further the company is
complying with all the Reserve Bank of India guidelines as issued from time to time
related to provisioning and reserves.
DIVIDEND
In order to conserve the resources of the Company, your directors have
not recommended any dividend for the financial year under review.
SHARE CAPITAL
As on March 31, 2025, the Authorised Share Capital of the Company stood
at Rs. 75,00,00,000/ divided into 75,00,00,000 fully paid-up equity shares of face value
of Re. 1/- per share.
As on March 31, 2025, Issued and Paid-up Share Capital of the Company
stood at Rs. 60,85,20,425/ divided into 60,85,20,425 fully paid-up equity shares of face
value of Re. 1/- per share.
During the year under review, pursuant to members' approval, stock
exchanges and other statutory approvals, the Company has issued certain equity shares on
Right basis to its existing shareholders as detailed herein below:
Particulars |
Right Issue |
| Date of Board Approval |
March 23, 2024 |
| Date of Members Approval |
April 25, 2024 |
| No. of shares to be issued |
19,98,05,013 |
| Right Issue Ratio |
14 Equity Share for every 30 fully paid-up
Equity Share(s) |
| Record Date |
Thursday, September 12, 2024 |
| Opening of Issue |
Tuesday, September 24, 2024 |
| Closing of Issue |
Monday, October 14, 2024 |
| Date of Allotment |
October 17, 2024 |
| No. of Fully Paid-up Shares Issued |
18,03,66,825 |
| Outstanding Fully Paid-up Equity Shares prior
to the Rights Issue |
42,81,53,600 |
| Outstanding Fully Paid-up Equity Shares post
to Right Issue |
60,85,20,425 |
DEPOSITS
During the period under review the Company has not accepted any public
deposits and therefore no amount on account of principal or interest on public deposits
was outstanding as on the date of the Balance Sheet.
In addition to the above, the Company is registered as a Non-Banking
Finance Company- Not accepting deposits. Hence, pursuant to Section 45- IA of the Reserve
Bank of India Act, 1934, the Company cannot accept deposits from public, which is complied
by the Company during the Financial Year. Further, the Directors of the company assured to
carry on the practice of not accepting the same in order to comply with RBI norms and
guidelines in the coming year.
RBI GUIDELINES
The Company continues to comply with all the applicable regulations
prescribed by the Reserve Bank of India ("RBI"), from time to time.
PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS
The Company, being an NBFC registered with the RBI and engaged in the
business of giving loans in the ordinary course of its business, is exempt from complying
with the provisions of section 186 of the Act with respect to loans and guarantees.
Accordingly, the disclosures of the loans given as required under the aforesaid section
have not been made in this Report. However, the particulars of loans, investments and
guarantees are provided in the notes to Financial Statements.
SUBSIDIARY & ASSOCIATES COMPANY
During the year under review, "Advik Optoelectronics Limited"
ceased to be subsidiary of the Company w.e.f. September 30, 2024. However, "Advikca
Finvest Limited" continues to be a wholly owned subsidiary of your Company. Apart
from this there are no other Associate or Joint Venture Company.
The Annual Report of the Subsidiary Company will be made available for
inspection by the Members of the Company at the Registered Office of the Subsidiary
Company and at the Registered Office of your Company between 11:00 A.M. to 1:00
P.M. on any working day.
Audited Financial Statements of the Subsidiary Companies are also
available on the website of the Company and shall also be provided to the members of the
Company upon receipt of written requests from them.
During the year, the Board of Directors reviewed the affairs of the
subsidiary Company and pursuant to Section 129(3) of the Companies Act, 2013 read with
Rule 5 of Companies (Accounts) Rules, 2014, Consolidated Financial Statements of the
Company has been annexed to the Annual Report which reflects the performance and financial
position of each of the subsidiary Company.
Further a statement containing salient features of the Financial
Statements of the aforesaid Subsidiary Company has been provided in Form No. AOC-1 and
included in this Annual Report.
MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF
THE COMPANY
There have been no material changes and commitments affecting the
financial position of your Company occurring between the end of the Financial Year and the
date of this Report.
However, major events happened between the end of the financial year to
which these financial statements relate and the date of the report:
WEB ADDRESS FOR ANNUAL RETURN
The Annual Return pursuant to the provisions of Section 92 read with
Rule 12 of the Companies (Management and
Administration) Rules, 2014 of your Company for the financial year
under review is available at website of your Company under the "Investor Zone"
section.
MANAGEMENT DISCUSSION AND ANALYSIS
Management Discussion and Analysis of the financial conditions, future
outlook and results of the operations of the
Company for the year under the review, as stipulated under Regulation
34(2)(e) of SEBI (LODR) Regulations, 2015 is given under separate section of this Annual
Report and forms part of the Directors' Report.
CORPORATE GOVERNANCE REPORT
The Company believes in adhering to the best corporate governance
practices and its philosophy emphasizes on fair and transparent governance and disclosure
practices which helps your Company to follow the path of its vision and mission. It
strongly believes in developing best corporate governance policies and procedures based on
principals of fair and transparent disclosures, equity, accountability and responsibility.
A detailed report on Corporate Governance, in terms of Regulation 34 of the Listing
Regulations is forming part of the Annual Report.
A certificate confirmingcompliance with requirements of Corporate
Governance as enumerated under the extant provisions of Listing Regulations issued by M/s.
Shubhangi Agarwal & Associates, Practicing Company Secretaries, New Delhi is also
annexed to the said report.
WHISTLE BLOWER POLICY AND VIGIL MECHANISM
In terms of provisions of section 177 of the Companies Act, 2013 and
rules framed thereunder read with Regulation 22 of the Listing Regulations, your Company
has a vigil mechanism in place for the Directors and Employees of the Company through
which genuine concerns regarding various issues relating to inappropriate functioning of
the organization can be communicated. For this reason, your Board has formulated a Whistle
Blower Policy and uploaded on the website of the Company. During the year under review,
there has been no incidence reported which requires action by the Board or Committee.
BOARD OF DIRECTORS
The Board of Directors provides a blueprint for the success of any
organization; it plans and implements various strategies to grow not only in number but in
value and cater to its stakeholders.
Your Company's Board consists of learned
professionalsandexperiencedindividualsfromdifferentfields.As on the date of report, your
Board comprises Seven Directors, and Company Secretary. Amongst the directors, three are
Executive, and four are Non-Executive Independent Directors including two Women
Independent Directors on the Board. On the recommendation of the Nomination and
Remuneration Committee the following changes took place in the composition of the Board of
Directors:
Sl. No. |
DIN |
Name |
Designation |
Change |
Incoming Directors |
|
|
|
1. |
10800406 |
Mr. Narendra Kumar Singhal |
Whole-time Director and CEO |
Appointment (w.e.f., December
02, 2024) |
2. |
08483800 |
Mr. Rajnish Kumar Gupta |
Non-Executive, Independent
Director |
Appointment (w.e.f., December
31, 2024) |
Outgoing Directors |
|
|
|
1. |
05357861 |
Mr. Karan Bagga |
Whole-Time Director and CEO |
Resignation (w.e.f., December
02, 2024) |
2. |
09270389 |
Mrs. Gunjan Jha |
Non-Executive, Independent
Director |
Resignation (w.e.f., July 01,
2024) |
During the financial year under review, Mr. Karan Bagga resigned from
the designation of Whole-Time Director and CEO of the Company w.e.f., December 02, 2024.
Subsequently Mr. Narendra Kumar Singhal was appointed as Whole-Time Director and CEO of
the Company w.e.f., December 02, 2024.
Mr. Rajnish Kumar Gupta appointed on designation of Non-Executive,
Independent Director of the Company w.e.f., December 31, 2024 and Ms. Gunjan Jha resigned
from the designation of Non-Executive, Independent Director w.e.f. July 01, 2024. The
latest composition of Directors as on the date of report is set out in the table below:
Name of Directors |
Designation |
| Mr. Vikas Garg |
Executive Director and Promoter |
| Mr. Narendra Kumar Singhal |
Whole-Time Director & CEO |
| Mr. Pankaj |
Whole-time Director & CFO |
| Mr. Devender Kumar Garg |
Non-Executive, Independent Director |
| Mrs. Sony Kumari |
Non-Executive, Independent Director |
| Mrs. Swati Gupta |
Non-Executive, Independent Director |
| Mr. Rajnish Kumar Gupta |
Non-Executive, Independent Director |
Declarations by Independent Directors
All the Independent Directors have given a declaration under section
149(7) of the Act confirming that they fulfil the criteria of independence as provided
under section 149(6) of the Act [including compliance of Rule 5 and 6 of Companies
(Appointment and Qualification of Directors) Rules, 2014] and
regulations 16(1)(b) & 25 of Listing Regulations and have also complied with the Code
for Independent Directors as prescribed in Schedule IV of the Act.
All the Independent Directors of the Company have registered themselves
in the data bank maintained with the Indian Institute of Corporate Affairs, Manesar
(‘IICA"). In terms of section 150 of the Act read with rule 6(4) of the
Companies
(Appointment & Qualification of Directors) Rules, 2014, the
Independent Directors are required to undertake online proficiency self-assessment test
conducted by the IICA within a period of two (2) years from the date of inclusion of their
names in the data bank. The Independent Directors, whosoever is
required,shallundertakethesaidproficiencytest. In the opinion of the Board all Independent
Directors possess a strong sense of integrity and have requisite experience (including
proficiency), qualifications, skills and expertise as There has been no change in the
circumstances which may affect their status as Independent Director during the financial
year under review.
None of the Directors disqualifies for appointment under Section 164 of
the Companies Act, 2013
Key Managerial Personnel
As per the requirement under the provisions of section 203 of the Act,
the following are the Key Managerial Personnel (KMP) of the Company as on the date of this
report:
Name |
Designation |
| Mr. Narendra Kumar Singhal |
Whole Time Director & CEO |
| Mr. Pankaj |
Whole-Time Director & CFO |
| Mrs. Nisha Mittal |
Company Secretary & Compliance Officer |
Notes:
1) Mr. Karan Bagga resigned as Whole-Time Director and CEO w.e.f.,
December 02, 2024 and Mr. Narendra Kumar Singhal was appointed on the same designation
w.e.f., December 02, 2024, subject to approval of members via Postal Ballot to be
concluded on July 02, 2025.
2) Ms. Deepika Mishra resigned from the position of Company Secretary
and Compliance Officer w.e.f. November 04, 2024 and Mrs. Nisha Mittal was appointed as
Compliance officer w.e.f. February 03, 2025 and as Company
Secretary w.e.f. May 23, 2025.
PERFORMANCE EVALUATION OF THE BOARD
In line with the statutory requirements enshrined under the Companies
Act, 2013 and the Listing Regulations, the Board carried out a performance evaluation of
itself, its Committees, the Chairman and each of the other Directors. The performance
evaluation was carried out on the basis of framework approved by the Nomination and
Remuneration Committee. The Committee had unanimously consented for an
‘in-house' review built on suggestive parameters. Based on the suggestive
parameters approved by the Nomination and Remuneration Committee, the following
evaluations were carried out:
• Review of performance of the non- independent Directors and
Board as a whole by Independent Directors.
• Review of the performance of the Chairperson by the Independent
Directors.
• Review of Board as a whole by all the Members of the Board.
• Review of all Board Committees by all the Members of the Board.
• Review of Individual Directors by the rest of the Board Members
except the Director being evaluated.
Results of all such above-mentioned evaluations were found
satisfactory.
AUDITORS
a) STATUTORY AUDITORS & AUDIT REPORT
In terms of the provisions of Section 139 of the Companies Act, 2013
read with the Companies (Audit and Auditors) Rules, 2014, M/s. KSMC & Associates,
Chartered Accountants, (Firm Registration No: 003565N) were appointed as the Statutory
Auditors of the Company holding office for a period of 5 consecutive years from the
conclusion of the ensuing 37th Annual General Meeting till the conclusion of 42nd
Annual General Meeting which ought to be held in the year 2027.
Further, there are no qualifications, reservations, or adverse remarks
in the Report
Associates, Chartered Accountants, Statutory Auditors, for the year
under review. Remarks made in the Report are self-explanatory and do not call for any
further comments from your directors.
b) SECRETARIAL AUDIT
Pursuant to Section 204 of the Companies Act, 2013 read with the
Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, the Company has obtained the
Secretarial Audit Report for the financial year ended on March 31, 2025 from M/s.
Shubhangi Agarwal & Associates, Practicing Company Secretaries, New Delhi and the same
forms part of the Annual Report. The Secretarial Audit Report does contain some
qualifications, reservations or adverse remarks.
c) COST AUDIT
Since the Company is engaged in the business of Non-Banking Financial
Company, therefore the provisions of Section 148 of the Companies Act, 2013 regarding
maintenance of Cost Records and Cost Audit is not applicable to the Company as required to
be disclosed under Clause (ix) of sub-rule 5 of Rule 8 of the Companies (Accounts) Rules,
2014.
d) INTERNAL CONTROLS SYSTEM AND THEIR ADEQUACY
The Board is responsible for establishing and maintaining adequate
internal financial control as per Section 134 of the Act. Your Company's internal
control systems and processes commensurate with scale of operations of the Business.
Periodical reviews are carried out by the Internal Auditors and are
subject to assessment and trials to provide reasonable assurance as to reliable
information & compliance. The Internal Audit Report submitted by the Internal Auditor,
M/s. G Mansi & Associates, Chartered Accountants, for the year under review is
appraised by the Audit Committee and noted by the Board.
PARTICULARS OF EMPLOYEES
Disclosures 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 has been annexed to
this report as ‘Annexure A'.
None of the employees of the Company are being paid remuneration
exceeding the prescribed limit under the said provisions and rules.
Further, the particulars of employees pursuant to Rule 5(2) & 5(3)
of the above Rules form part of this report. However, in terms of the provisions of
section 136 of the said Act, the Annual Report is being sent to all the members of the
Company and others entitled thereto, excluding the said particulars of employees.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The particulars as required under the provisions of Section 134(3)(m)
of the Companies Act, 2013 in respect of conservation of energy and technology absorption
have not been furnished considering the nature of activities undertaken by the company
during the year under review. Further, during the year under review, the Company has
neither earned nor used any foreign exchange.
MEETINGS
A) BOARD MEETINGS
The Board meets at least once a quarter to review the quarterly results
and other items on the agenda. During the financial year ended March 31, 2025, seven (07)
Board Meetings were held and the gap between the two consecutive meetings was within the
statutory limit. Details of the Board meetings are given in the Corporate Governance
Report annexed herewith for the financial year ended March 31, 2025.
B) DISCLOSURE OF VARIOUS COMMITTEES OF BOARD OF DIRECTORS: I. AUDIT
COMMITTEE
The Company has constituted a well-qualified and Independent Audit
Committee as required under Section of the requirements of Regulations 18 of the SEBI
177oftheCompaniesAct,2013asalsoinfulfillment
(LODR) Regulations, 2015. The primary objective of the Audit Committee
is to monitor and provide effective supervision of the management's financial
reporting process with a view to ensure accurate, timely and proper disclosure and
transparency, integrity and quality of financial reporting The Audit Committee met Four
(4) times during the financial year. The details of meetings with thereof and terms of
reference of the Audit Committee have been provided in the Corporate Governance Report
which forms part of this Report.
II. STAKEHOLDERS' RELATIONSHIP COMMITTEE
The composition of the Stakeholders Relationship Committee is in
compliance with the provisions of Section 178(5) of the Companies Act, 2013 and Regulation
20 of the SEBI (LODR) Regulations, 2015.
The Stakeholders' Relationship Committee met one (1) time during
the financial year. The details about the composition of the said committee of the Board
of Directors along with attendance thereof have been provided in the Corporate Governance
Report which forms part of this Report.
III. NOMINATION & REMUNERATION COMMITTEE
In terms of section 178 of the Act read with Companies (Meetings of
Board and its Powers) Rules, 2014 and regulation 19 of the Listing Regulations, your
Company has in place duly constituted Nomination and Remuneration Committee of the Board
of Directors.
The Nomination and Remuneration Committee met Two (2) times during the
financial year The details of the composition of the committee along with other details
are available in the Corporate Governance Report which forms part of this Report.
NOMINATION AND REMUNERATION POLICY
The Board has in accordance with the provisions of sub-section (3) of
Section 178 of the Companies Act, 2013 and as per the Listing regulations, formulated the
policy setting out the criteria for determining qualifications, positive attributes,
independence of a Director and policy relating to remuneration for Directors, Key
Managerial Personnel and other employees which is also available on the Company's
website.
INVESTOR RELATIONS
Your Company has been continuously interacting and endeavors to further
improve its engagement with investors/analysts by participating either in-person meetings
or through the use of technology.
TRANSFER OF 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 the Investor Education and Protection Fund (IEPF).
DISCLOSURE REGARDING INTERNAL COMPLAINTS COMMITTEE
The Company has zero tolerance for sexual harassment at workplace and
has formulated a policy on Prevention, Prohibition and Redressal of Sexual Harassment at
the workplace, in line with the provisions of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 and rules there under. The Policy aims
to provide protection to employees at the workplace and prevent and redress complaints of
sexual harassment and for matters connected or incidental thereto, with the objective of
providing a safe working environment, where employees feel secure. The said policy is also
uploaded on the website of the Company. During the year under review, no complaint was
received in this regard.
All the employees of the Company as a part of the induction were/are
sensitized about the provisions of the said Act. The Company believes in providing safe
working place for the Women in the Company and adequate protection are given for them to
carry out their duties without fear or favour.
Complaints filed under the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 are as under:
Total Complaints reported
under Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act,
2013 (POSH) |
Nil |
| Number of complaints disposed during the
year; and |
Nil |
| Number of cases pending for more than ninety
days] |
Nil |
RISK MANAGEMENT
The Board of Directors developed and implemented an appropriate risk
management policy which is entrusted with the responsibility to assist the Board in
overseeing and approving the Company's enterprise-wide risk management framework and
overseeing all the risks that the organization faces, identifying the element of risk
which, in the opinion of the Board may threaten the existence of the company and
safeguarding the company against those risks.
The internal financial control system and timely review of external,
operational and other risks enables the Board of your company towards identification and
mitigation of the risks. The Company's approach to mitigate business risks is through
periodic review and reporting mechanism to the Audit Committee and the Board and thereby
maximizing returns and minimizing risks.
SIGNIFICANT & MATERIAL ORDERS PASSED BY REGULATORS/COURTS, IF ANY by
the regulators, courts or tribunals having an impact on the future Therearenosignificant
operations of the Company or its going concern status.
RELATED PARTY TRANSACTIONS
All related party transactions during the year under review were on
arm's length basis, in the ordinary course of business and in compliance with the
Policy on Related Party Transactions of the Company. During the year, the Company has not
entered into any contracts /arrangements / transactions with related parties which could
be considered material in accordance with the policy of the Company on materiality of
related party transactions.
The provisions of Section 188 of the Companies Act, 2013 and/or
Regulation 23 of the SEBI (LODR) Regulations, 2015 were duly complied. The Related Party
Transactions are placed before the Audit Committee and the Board for their approval on a
quarterly basis.
The policy on Related Party Transactions as approved by the Board is
uploaded on the Company's website. The disclosure on Related Party Transactions is
made in the Notes to Financial Statement of the Company.
COMPLIANCE OF SECRETARIAL STANDARDS
During the year under review the Company has complied with all
applicable Secretarial Standards issued by Institute of Company Secretaries of India.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 134(3) (c) read with Section 134(5) of the Act, the
Directors, to the best of their knowledge and ability, hereby confirm that: i. in the
preparation of the annual accounts, the applicable accounting standards had been followed
with proper explanation relating to material departures.
ii. they have selected such accounting policies in consultation with
Statutory Auditors 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 March 31, 2025 and of the profit and loss of the
company for the said Financial Year; iii. theyhavetakenproperandsufficient care, to the
best of their knowledge and ability, 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 frauds and other irregularities. iv. The
annual accounts of the Company have been prepared on a going concern basis. v. The
directors had laid down internal financial controls to be followed by the Company and that
such internal financial controls are adequate and were operating effectively. vi. They had
devised proper systems to ensure compliance with the provisions of all applicable laws and
that such systems were adequate and operating effectively
DETAILS OF APPLICATION MADE OR PROCEEDING PENDING UNDER INSOLVENCY AND
BANKRUPTCY CODE, 2016
During the year under review, there were no applications made or
proceedings pending in the name of the company under the Insolvency Bankruptcy Code, 2016.
DETAILS OF DIFFRENCE BETWEEN VALUATION AMOUNT ON ONE TIME SETTLEMENT
AND VALUATION WHILE AVAILING LOAN FROM BANKS AND FINANCIAL INSTITUTIONS
The company is engaged in the business of a non-banking finance
company and hasn't availed any loans from Bank and Financial Institutions; hence,
this clause is not applicable.
ACKNOWLEDGEMENT
Your directors acknowledge the efforts of its employees, at all levels,
for their continued hardwork, dedication and commitment towards the growth of the Company.
The Directors also place on record the continued support of their
investors, clients, vendors, bankers and financial institutions during the year under
review and look forward for the same in the years to come.
The Company also expresses its sincere gratitude to the Stock
Exchanges, Regulatory Authorities and all the government agencies for the continued
support extended during the year 2024-25.
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For and on behalf of the Board of
Directors |
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Advik Capital Limited |
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Pankaj |
Narendra Kumar Singhal |
Place: New Delhi |
CFO and Whole-Time Director |
CEO and Whole-Time Director |
Dated: 04.09.2025 |
(DIN: 10140086) |
(DIN:10800406) |
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