To
The Members,
Your Directors have pleasure in presenting the 41st Annual Report of your Company
together with the Audited Statements of Accounts for the year ended March 31, 2023.
|
|
(Rs. in Lakh) |
Financial Results |
Year Ended 31.03.2023 |
Year Ended 31.03.2022 |
Revenue for the year |
73.30 |
83.42 |
Profit/(Loss) before Tax, Depreciation and Finance Cost |
36.49 |
33-05 |
Less: Finance Expenses |
- |
- |
Profit/(Loss) before Depreciation/Amortization (PBDT) |
36-49 |
33-05 |
Less: Depreciation |
- |
0.15 |
Net Profit/(Loss) before Taxation (PBT) |
36-49 |
32.90 |
Less: Provision for Taxation (including Deferred Tax) |
9-41 |
8.50 |
(Add)/Less: Extra-ordinary Items (Excess Provisioning) |
- |
- |
Profit/(Loss) after Tax & Extra-ordinary Items |
27.08 |
24.40 |
Less: Provision for Dividend |
- |
- |
Less: Transfer to General Reserves |
- |
- |
Profit/(Loss) available for Appropriation |
27.08 |
24.40 |
Add: Profit/(Loss) brought forward from Previous Year |
182.26 |
157.86 |
Balance of Profit/(Loss) carried forward |
209.34 |
182.26 |
FINANCIAL HIGHLIGHTS
Total revenue for the year stood at Rs.73.30 lakh in comparison to last years' revenue
of Rs. 83.42 lakh. In term of Profit before taxation, the Company has earned a Profit of
Rs. 36.49 lakh in comparison to last years' Profit of Rs. 32.90 lakh. Profit after Tax and
Extra-Ordinary Items stood at Rs. 27.08 lakh in comparison to last financial year's Profit
of Rs. 24.40 lakh.
DIVIDEND AND RESERVES
In view of low profit and in order to conserve resources, your Directors do not propose
any dividend for the year under review.
During the year under review Rs. Nil was transferred to General Reserves.
SHARE CAPITAL
During FY 2022-23, the Company has increased its Authorized Capital from Rs. 15.00
Crore to Rs. 65.00 Crore for the purpose of further issue of Equity Shares up to Rs. 50.00
Lakh on Rights basis (Right Issue). The members have approved both the agenda by way of
Postal Ballot Rules under Companies Act, 2013.
The Paid Up Equity Share Capital as on March 31, 2023 was Rs. 13.284474 Crore. During
the year under review, the Company has not issued any share with differential voting
rights; nor granted stock options nor sweat equity. As on March 31, 2023, none of the
Directors and/or Key Managerial Person of the Company hold instruments convertible in to
Equity Shares of the Company.
BUSINESS SEGMENT
Your Company is into the business of Finance & Investments in accordance with the
Accounting Standard 17 notified by Companies (Accounting Standards) Rules 2006.
PARTICULARS OF LOANS, GUARANTEES & INVESTMENTS
Details of Loans, Guarantees and Investments, if any, covered under the provisions of
Section 186 of the Companies Act, 2013 are given in the notes to the Financial Statements.
SUBSIDIARY COMPANY
The Company does not have any Subsidiary/Material Subsidiary, Associate or Joint
Venture Company whose net worth exceeds 20% of the consolidated net worth of the holding
company in the immediately preceding accounting year or has generated 20% of the
consolidated income of the Company during the previous financial year. Accordingly, a
policy on material subsidiaries has not been formulated.
During the year, no Company has ceased to be Subsidiary, Associate or Joint Venture
Company.
POLICY FOR DETERMINING MATERIAL SUBSIDIARY COMPANIES
The Company has formulated a "Policy for determining material Subsidiary
Companies" of the Company. This policy is available on your Company's website at https://www.khoobsuratltd.co.in/company-policies.html
RELATED PARTY TRANSACTIONS (RPT)
There is no material modification for RPT during the year under review hence do not
attract the provisions of Section 188 of the Companies Act, 2013. There were no materially
significant transactions with the related parties during the financial year, which were in
conflict with the interest of the Company. The requisite details under Form AOC-2 in
Annexure III have been provided elsewhere in this Report. Suitable disclosure as required
by the Accounting Standard (Ind-AS 24) has been made in the notes to the Financial
Statements.
None of the Directors has any pecuniary relationships or transactions vis-a-vis the
Company
The Company has put in place a mechanism for certifying the Related Party Transactions
Statements placed before the Audit Committee and the Board of Directors from an
Independent Chartered Accountant Firm.
The Policy on Related Party Transactions as approved by the Board of Directors has been
uploaded on the website of the Company. None of the Directors has any pecuniary
relationship or transactions vis-a-vis the Company except remuneration and sitting fees.
In accordance with the provisions of the SEBI Listing Regulations, the Company has in
place the Policy on dealing with Related Party Transactions which is available on its
website at the link: https://www.khoobsuratltd.co.in/company- policies.html
MANAGEMENT DISCUSSION & ANALYSIS
The Management Discussion and Analysis on the operations of the Company as prescribed
under Part B of Schedule V read with regulation 34(3) of the Listing Regulations, 2015 is
provided in a separate section and forms part of the Directors' Report.
CHANGE IN NATURE OF BUSINESS, IF ANY.
There are no changes in the nature of business in the financial year 2022-23.
BOARD EVALUATION
The Board of Directors has carried out an annual evaluation of its own performance,
board committees and individual directors pursuant to the provisions of the Act and SEBI
Listing Regulations.
The performance of the Board was evaluated by the Board after seeking inputs from all
the directors on the basis of criteria such as the board composition and structure,
effectiveness of board processes, information and functioning, etc.
The performance of the committees was evaluated by the board after seeking inputs from
the committee members on the basis of criteria such as the composition of committees,
effectiveness of committee meetings, etc.
The above criteria are broadly based on the Guidance Note on Board Evaluation issued by
the Securities and Exchange Board of India on January 5, 2017.
In Compliance with Section 149 (7) read with Schedule IV of the Companies Act, 2013 and
Regulations 25(3) of the SEBI LODR Regulations, 2015, a separate Board Meeting of
Independent Directors of the Company was held on March 3, 2022 wherein, the following
items in agenda were discussed:
reviewed the performance of Non-Independent Directors and the Board as a whole.
reviewed the performance of the Chairperson of the company, taking into account
the views of Executive Directors and Non-Executive Directors;
Assessed the quality, quantity and timeliness of flow of information between the
Company Management and the Board that is necessary for the Board to effectively and
reasonably perform their duties.
The Board evaluates its composition to ensure that the Board has the appropriate
mix of skills, experience, independence and knowledge to ensure their continued
effectiveness. In the table below, the specific areas of focus or expertise of individual
Board members have been highlighted.
Matrix setting out the skills/expertise/competence of the Board of Directors
Sl. No. |
Essential Core skills/expertise/ competencies required for the Company |
Core skills/expertise/competencies of all the Directors on the Board of the Company |
1. |
Strategic and Business Leadership |
The Directors and especially the Managing Director have many years of experience. |
2. |
Financial expertise |
The Board has eminent business leaders with deep knowledge of finance and business. |
3. |
Governance, Compliance and Regulatory |
The presence of Directors with qualifications and expertise in Law and Regulatory
affairs lends strength to the Board. |
4. |
Knowledge and expertise of Trade and Technology |
The Directors have profound knowledge of economic Affairs, trade and technology
related matters. |
NUMBER OF MEETINGS OF THE BOARD
The details of the Board Meetings and other Committee Meetings held during the
financial year 2022-23 are given in the separate section of Corporate Governance Report.
BOARD COMMITTEES
All Committees of the Board of Directors are constituted in line with the provisions of
the Companies Act, 2013 and applicable regulations of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
MANAGEMENT
There is no change in Management of the Company during the year under review.
However during FY 2023-24, i.e. on 28th April 2023, Mrs. Puspa Devi Saraswat and Mr.
Mangelal Joshi, both Independent Directors as well as Mr. Biplab Mukherjee, CFO of the
Company, have resigned from the Board/employment and their place, the Board has appointed
Mrs. Sudipta Bhattacharya, Mrs. Haimonti Das as Independent Directors of the Company and
also appointed Mr. Ajay Kumar Mishra as CFO of the Company effective from 28th April 2023.
Further, during the year, Ms. Rozy Jain has been appointed as Company Secretary &
Compliance Officer effective from 1st September 2022.
DIRECTORS
There was no change in composition of Board during the year.
The details of programme for familiarization of Independent Directors with the Company,
nature of the business segments in which the Company operates and related matters are put
up on the website of the Company
In the opinion of the Board, the Independent Directors possess the requisite expertise
and experience and are the persons of high integrity and repute. They fulfill the
conditions specified in the Companies Act, 2013 and the Rules made thereunder and are
independent of the management.
Further, none of the Directors of the Company are disqualified under sub-section (2) of
Section 164 of the Companies Act, 2013.
INDEPENDENT DIRECTORS & KMPs
As per provisions of Section 149 of the 2013 Act, independent directors shall hold
office for a term up to five consecutive years on the board of a company, but shall be
eligible for re-appointment for another term up to five years on passing of a special
resolution by the company and disclosure of such appointment in Board's Report. Further
Section 152 of the Act provides that the independent directors shall not be liable to
retire by rotation in the Annual General Meeting ('AGM') of the Company.
As per requirements of Regulation 25 of Listing Regulations, a person shall not serve
as an independent director in more than seven listed entities: provided that any person
who is serving as a whole time director in any listed entity shall serve as an independent
director in not more than three listed entities. Further, independent directors of the
listed entity shall hold at least one meeting in a year, without the presence of
non-independent directors and members of the management and all the independent directors
shall strive to be present at such meeting.
In the opinion of the Board, the Independent Directors possess the requisite expertise
and experience and are the persons of high integrity and repute. They fulfil the
conditions specified in the Companies Act, 2013 and the Rules made thereunder and are
independent of the management.
Independent Directors have confirmed that they have complied with the Company's Code of
Business Conduct & Ethics.
Neither there was a change in the composition of Board during the current financial nor
was a change in the employees from KMP category, except as stated herein below.
DETAILS OF DIRECTORS/KMP APPOINTED AND RESIGNED DURING THE YEAR
Sl. No. |
Name |
Designation |
Date of Appointment |
Date of Resignation |
1. |
Ms. Rozy Jain |
Company Secretary |
01/09/2022 |
- |
2. |
Ms. Neha Agarwal |
Company Secretary |
- |
26/07/2022 |
DECLARATION BY INDEPENDENT DIRECTOR(S) AND RE-APPOINTMENT, IF ANY
All the Independent Directors have submitted their disclosures to the Board that they
fulfil all the requirements as stipulated in Section 149(6) of the Companies Act, 2013 and
Regulation i6(i)(b) of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, so as to qualify themselves to be appointed as Independent Directors
under the provisions of the Companies Act, 2013 and the relevant rules. In terms of
Regulation 25(8) of Listing Regulations, they have confirmed that they are not aware of
any circumstance or situation which exists or may be reasonably anticipated that could
impair or impact their liability to discharge their duties. Based on the declaration
received from Independent Directors, the Board of Directors have confirmed that they meet
the criteria of Independence as mentioned under Section 149 of the Companies Act, 2013 and
Regulation 16(1)(b) of Listing Regulations and they are independent of the management.
EVALUATION OF DIRECTORS, BOARD AND COMMITTEES
The Nomination and Remuneration Committee (NRC) of the Company has devised a policy for
performance evaluation of the individual directors, Board and its Committees, which
includes criteria for performance evaluation.
Pursuant to the provisions of the Act and the Listing Regulations and based on policy
devised by the NRC, the Board has carried out an annual performance evaluation of its own
performance, its committees and individual directors. The Board performance was evaluated
based on inputs received from all the Directors after considering criteria such as Board
composition and structure, effectiveness of Board and information provided to the Board,
etc.
The performance of the committees was evaluated by the Board of Directors based on
inputs received from all the committee members after considering criteria such as
composition and structure of committees, effectiveness of committee meetings, etc.
Pursuant to the Listing Regulations, performance evaluation of independent directors
was done by the entire board, excluding the independent director being evaluated.
A separate meeting of the Independent Directors was also held for the evaluation of the
performance of non-independent Directors, performance of the Board as a whole and that of
the Chairman of the Board.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, TRIBUNALS OR COURTS
There are no significant and material orders passed by the Regulators/Courts that would
impact the going concern status of the Company and its future operations.
MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN THE END OF THE
FINANCIAL YEAR AND DATE OF REPORT
There have been no material changes and commitments affecting the financial position of
the Company between the end of Financial Year and date of the report, except the following
-
Mr. Biplab Mukherjee, CFO of the Company has resigned from employment w.e.f.
28th April 2023 and in his place, the Board has appointed Mr. Ajay Kumar Mishra as CFO of
the Company.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 134(5) of the Companies Act, 2013 the Board of
Directors confirms that:
1. In the preparation of the annual accounts, for the year ended 31st March 2023, all
the applicable accounting standards prescribed by the Institute of Chartered Accountants
of India have been followed along with proper explanation relating to material departures,
if any;
2. 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 as at March 31, 2023 and of the profit of
the Company for the year ended on that date;
3. that the Directors have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of this Act for safeguarding
the assets of the Company and for preventing and detecting fraud and other irregularities;
4. that the Directors had prepared the annual accounts on a going concern basis;
5. that 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; and
6. 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.
BUSINESS RISK MANAGEMENT
The Company is exposed to credit, liquidity and interest rate risk. On the other hand,
investment in Stock Market, both in Quoted and Unquoted Shares, have the risk of change in
the price and value, both in term of up and down and thus can affect the profitability of
the Company.
Risk management is embedded in your Company's operating framework. Your Company
believes that managing risks helps in maximizing returns. The Company's approach to
addressing business risks is comprehensive and includes periodic review of such risks and
a framework for mitigating controls and reporting mechanism of such risks. The risk
management framework is reviewed periodically by the Board and the Audit Committee.
Further, the Company is not required to constitute Risk Management Committee under
Listing Regulations, 2015.
INTERNAL AUDIT AND INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY
Based on the framework of internal financial controls and compliance systems
established and maintained by the Company, the work performed by the internal, statutory
and secretarial auditors and external consultants, including the audit of internal
financial controls over financial reporting by the statutory auditors and the reviews
performed by management and the relevant board committees, including the audit committee,
the Board is of the opinion that the Company's internal financial controls were adequate
and effective during FY 2023.
NOMINATION, REMUNERATION AND BOARD DIVERSITY POLICY
The Board of Directors has framed a policy which lays down a framework in relation to
remuneration of Directors, Key Managerial Personnel and Senior Management of the Company.
The Policy broadly lays down the guiding principles, philosophy and the basis for payment
of remuneration to Executive and Non-executive Directors (by way of sitting fees and
commission), Key Managerial Personnel, Senior Management and other employees. The policy
also provides the criteria for determining qualifications, positive attributes and
Independence of Director and criteria for appointment of Key Managerial Personnel/Senior
Management and performance evaluation which are considered by the Nomination and
Remuneration Committee and the Board of Directors while making selection of the
candidates. The above policy has been posted on the website of the Company.
VIGIL MECHANISM/WHISTLE BLOWER POLICY
In Compliance of the Companies Act, 2013 and Regulation 22 of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, the Company has adopted a Whistle Blower
Policy/Vigil Mechanism and has established the necessary vigil mechanism for Directors,
Employees and Stakeholders of the Company to report genuine concerns about unethical
behavior, actual or suspected fraud or violation of the Company's code of conduct or
ethics policy. The Company has disclosed the policy on the website of the Company i.e. www.khoobsuratltd.co.in
INFORMATION TECHNOLOGY
Innovation and Technology are synonymous with the Company. The investment in technology
acts as a catalyst and enables the Company to be innovative.
AUDITORS
Statutory Auditors
Messrs DBS & Associates, Chartered Accountants, Mumbai (FRN - 018627N) were
appointed as Statutory Auditors of the Company for a period of five consecutive years at
the 36th Annual General Meeting (AGM) of the Members held on September 27, 2018 and holds
the Office up to the conclusion of this 41st Annual General Meeting.
Due to the expiry of term of appointment of Messrs. DBS & Associates, the Company
is required to fill the vacancy which will be caused after the conclusion of this Annual
General Meeting and accordingly, the Company has appointed S P M L & Associates, (FRN:
136549W) as Statutory Auditors of the Company after the conclusion of this 41st Annual
General Meeting, up to the conclusion of 46th Annual General Meeting which will be held in
year 2028. The details of said newly appointed Statutory Auditors have been provided in
the Notice convening AGM.
There is no audit qualification, reservation or adverse remark for the year under
review.
Secretarial Auditors
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has
appointed Mrs. Kriti Daga, Company Secretaries in Practice (C. P. No. 14023) to undertake
the Secretarial Audit of the Company. The Report of the Secretarial Audit Report in the
prescribed Form MR-3 is annexed in this Annual Report as Annexure II. The same does not
contain any qualification, reservation or adverse remark, except as stated in said Report
as appearing on Page No. 28 of the Annual Report.
In addition to the above and pursuant to SEBI circular dated 8 February 2019, a report
on secretarial compliance by Mrs. Kriti Daga for the FY2022-23 has been submitted with
stock exchanges.
Internal Auditors
Your Company has an effective internal control and risk-mitigation system, which are
constantly assessed and strengthened with new/revised standard operating procedures. The
Company's internal control system is commensurate with its size, scale and complexities of
its operations. The internal and operational audit is entrusted to M/s P.R. Shukla &
Associates, Chartered Accountant Firm, Kolkata (FRN-327763E). The main thrust of internal
audit is to test and review controls, appraisal of risks and business processes, besides
benchmarking controls with best practices in the industry.
The Audit Committee of the Board of Directors actively reviews the adequacy and
effectiveness of the internal control systems and suggests improvements to strengthen the
same. The Company has a robust Management Information System, which is an integral part of
the control mechanism.
The Audit Committee of the Board of Directors, Statutory Auditors and the Key
Managerial Personnel are periodically apprised of the internal audit findings and
corrective actions taken. Audit plays a key role in providing assurance to the Board of
Directors. Significant audit observations and corrective actions taken by the management
are presented to the Audit Committee of the Board. To maintain its objectivity and
independence, the Internal Audit function reports to the Chairman of the Audit Committee.
EXTRACT OF ANNUAL RETURN
Pursuant to the provisions of Section 134(3) Rs.) of the Companies Act, 2013, extract
of the Annual Return for the financial year ended 31st March 2023 made under the
provisions of Section 92(3) of the Act is attached as Annexure IV to this report.
DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
& REDRESSAL) ACT 2013 READ WITH RULES
Pursuant to the requirements of Section 22 of Sexual Harassment of Women at Workplace
(Prevention, Prohibition & Redressal) Act 2013 read with Rules thereunder, this is to
certify and declare that there was no case of sexual harassment during the year under
review. Neither there was a case pending at the opening of Financial Year, nor has the
Company received any Complaint during the year.
STATUTORY INFORMATION AND OTHER DISCLOSURES
Since the Company is into the business of financing and investment activities in Shares
and Securities; the information regarding Conservation of Energy, Technology Absorption,
Adoption and Innovation, as defined under section 134(3)(m) of the Companies Act, 2013
read with Rule 8(3) of the Companies (Accounts) Rules, 2014, is reported to be NIL.
The Disclosure required under Section 197(12) of the Act read with the Rule 5(1) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is annexed
as Annexure 'V' and forms an integral part of this Report. A statement comprising the
names of top employees in terms of remuneration drawn and every persons employed
throughout the year, who were in receipt of remuneration in terms of Rule 5(2) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed as
Annexure 'VI' and forms an integral part of this annual report.
The above Annexure is not being sent along with this annual report to the members of
the Company in line with the provisions of Section 136(1) of the Act. Members who are
interested in obtaining these particulars may write to the Company Secretary at the
Registered Office of the Company. The aforesaid Annexure is also available for inspection
by Members at the Registered Office of the Company, 21 days before and up to the date of
the ensuing Annual General Meeting during the business hours on working days.
None of the employees listed in the said Annexure is a relative of any Director of the
Company. None of the employees hold (by himself or along with his spouse and dependent
children) more than two percent of the Equity Shares of the Company.
BUSINESS RESPONSIBILITY REPORT
As the Company is not among top 500 or 1000 Companies by turnover on Stock Exchanges,
the disclosure of Report under of Regulation 34(2) of the Listing Regulations is not
applicable to the Company for the year under review.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The Company has not earned or used foreign exchange earnings/outgoings during the year
under review.
PUBLIC DEPOSITS
During the year under review, your Company has not accepted any deposit from the public
falling within the ambit of Section 73 of the Companies Act, 2013 and The Companies
(Acceptance of Deposits) Rules, 2014.
MAINTENANCE OF COST RECORDS
The maintenance of cost records for the services rendered by the Company is not
required pursuant to Section 148(1) of the Companies Act, 2013 read with Rule 3 of
Companies (Cost Records and Audit) Rules, 2014.
AUDITORS REPORT
The Notes on Financial Statement referred in the Auditors' Report are self-explanatory
and do not call for any further comments. The Auditors' Report does not contain any
qualification, reservation, adverse remark or disclaimer for the Financial Year 2022-23.
REPORTING OF FRAUDS BY AUDITORS
During the year under review, the Statutory Auditors and the Secretarial Auditors have
not reported any instances of frauds committed in the Company by its officers or employees
of Audit Committee under Section 143(12) of the Companies Act, 2013, details of which
needs to be mentioned in this Report.
EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR
DISCLAIMERS MADE BY THE AUDITORS
Your Board of Directors has taken note of the Auditor's Report. Auditors have given
their modified opinion of the Financial Statements.
The Company is having investment in Unlisted Shares valuing to Rs.1085.32 for which the
Company could not provide latest valuation Report from Independent valuer. In the opinion
of the Board, the value has been taken based on last available Audited Balance Sheets of
Unlisted Companies and hence impact is assumed to be Nil as per management perception
REPORT ON CORPORATE GOVERNANCE
As per Regulation 34(3) read with Schedule V of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, a separate section on corporate governance
practices followed by the Company, together with a certificate from the Company's Auditors
confirming compliance forms an integral part of this Report.
COMPLIANCE WITH SECRETARIAL STANDARDS
The Board of Directors affirms that the Company has complied with the applicable
mandatory Secretarial Standards issued by the Institute of Company Secretaries of India.
GENERAL
Your Directors state that during Financial Year 2022-23:
The Company has not issued any Equity Shares with differential rights as to
Dividend, Voting or otherwise.
The Company has not issued any Sweat Equity Shares during the year.
There are no significant or material orders passed against the Company by the
Regulators or Courts of Tribunals during the year ended March 31, 2023 which would impact
the going concern status of the Company and its future operations.
The Central Government has not prescribed the maintenance of cost records for
any of the products of the Company under sub-section (1) of Section 148 of the Companies
Act, 2013 and the Rules framed there under.
CAUTIONARY STATEMENT
Statements in this Directors' Report and Management Discussion and Analysis describing
the Company's objectives, projections, estimates, expectations or predictions may be
"forward-looking statements" within the meaning of applicable securities laws
and regulations. Actual results could differ materially from those expressed or implied.
APPRECIATION
Your Directors place on record their sincere appreciation for the assistance and
guidance provided by the Reserve Bank of India, the Ministry of Corporate Affairs, the
Securities and Exchange Board of India, government and other regulatory Authorities, stock
exchanges, other statutory bodies, Company's bankers, Members and employees of the Company
for the assistance, cooperation and encouragement and continued support extended to the
Company.
Your Directors also gratefully acknowledge all stakeholders of the Company viz.
customers, members, dealers, vendors, banks and other business partners for the excellent
support received from them during the year. Our employees are instrumental in helping the
Company scale new heights, year after year. Their commitment and contribution is deeply
acknowledged. Your involvement as shareholders is also greatly valued. Your Directors look
forward to your continuing support.
Kolkata, August 21, 2023 |
By order of the Board |
|
For KHOOBSURAT LIMITED |
|
S/d- |
Registered Office: |
Sanjay Mishra |
7A, Bentinck Street, 3rd Floor, Room No. 310 |
DIN:09048557 |
Kolkata-700 001 |
Chairman & Managing Director |
|