ANNUAL REPORT 2017-2018 · Vijaykumar Shamjibhai Dattani – Member Vinod Prabhulal Mehta –...

Corporate Identification Number: L15400GJ1992PLC018426

Registered Office: City Point, Opp. - Town Hall,

Jamnagar – 361 008. Gujarat – India.

25TH ANNUAL REPORT

2017-2018

Contact Details

Phone: 0288-2551901, 2551902, 2551903

E-Mail Id:[email protected]/[email protected]

Website:www.integratedproteins.com

Corporate Information:

Board of Directors:

Vinod Prabhulal Mehta – Chairperson Arvindbhai Kantilal Shah – Managing Director Piyush Chimanlal Vora – Director Neepa Praful Kothari – Woman Director Chandrasinh Chatrabhuj Udeshi – Independent Director

*[ upto 19/01/2018] Bhalchandra Hiralal Vyas – Independent Director Vijaykumar Shamjibhai Dattani – Independent Director

Audit Committee:

Bhalchandra Hiralal Vyas – Chairman Vijaykumar Shamjibhai Dattani – Member Vinod Prabhulal Mehta – Member

Nomination And Remuneration Committee:


Shareholders Grievance Committee:


Bankers:

Corporation Bank Axis Bank The Lakshmi Vilas Bank

Statutory Auditors:

Doshi Maru and Associates.,Chartered Accountants,Shop No 217-218-219, Manek Centre,P. N. Marg,Jamnagar – 361 001.

Registrars and Share Transfer Agents:

Cameo Corporate Services Limited“Subramaniam Building”1 Club House Road,Chennai – 600 002.Phone: 044 – 2846 0390Email: [email protected]

Chief Financial Officer:

Mr. Piyush C. Vora (from 24/08/2018)

Company Secretary and Compliance Officer:CS Devanshi Vijay Shah (from 14/06/2018)

CONTENTS Page NoNOTICE OF Annual General Meeting 1REPORT OF BOARD OF DIRECTORS 16ANNEXURE – A TO DIRECTOR’S REPORT[COMPOSITION OF BOARD OF DIRECTORS] 23ANNEXURE – B TO DIRECTOR’S REPORT [ ATTENDANCE AT MEETINGS] 25ANNEXURE – C TO DIRECTOR’S REPORT [ NOMINATION & REMUNERATION POLICY] 27ANNEXURE – D TO DIRECTOR’S REPORT [MGT-9 EXTRACT OF ANNUAL RETURN] 31MANAGEMENT DISCUSSION AND ANALYSIS REPORT 46CERTIFICATE OF NON-APPLICABILITY OF CORPORATE GOVERNANCE REQUIREMENTS 47SECRETARIAL AUDIT REPORT 48ANNEXURE – A TO SECRETARIAL AUDITOR’S REPORT [REPORT OF EVEN DATE TOSHAREHOLDERS]

51

STATUTORY AUDITOR’S REPORT Annexed asdifferent filenamed AuditReport

ANNEXURE – REPORT OF EVEN DATE TO SHAREHOLDERSBALANCE SHEETPROFIT & LOSS STATEMENTNOTES TO AND FORMING PART OF BALANCE SHEETNOTES TO AND FORMING PART OF STATEMENT TO PROFIT AND LOSSCASH FLOW STATEMENTANNEXURE TO BALANCE SHEET

TWENTY FIFTH ANNUAL GENERAL MEETING

Date: 27th September, 2018 Thursday

Time: 11:00 a.m.

Place: Registered Office of the Company,City Point, Opp. Town Hall,Jamnagar

Notice of AGM

Annual Report - Page | 1

NNOOTTIICCEE

NOTICE is hereby given that the 25thAnnual General Meeting of the Members of the Company will be held on

Thursday, 27thSeptember, 2018 at 11:00 a.m. at the Registered Office of the Company situated at City Point, Opp-

Town Hall, Jamnagar – 361 008, Gujarat, to transact the following business:

Ordinary Business:

1. To receive, consider and adopt the Audited Financial Statements of the Company for the year ended March

31, 2018 and the reports of the Board of Directors and Auditors thereon.

2. To appoint a Director in place of Mr Vinod Prabhulal Mehta, Director [DIN: 00094718], who retires by

rotation and, being eligible, offers himself for re-appointment.

3. To appoint, M/s. Doshi Maru & Associates, Chartered Accountants [ICAI FRNo. 0112187W], Jamnagar hereby as

statutory auditors of the Company.

“RESOLVED THAT, pursuant to the provisions of Section 139 of the Companies Act, 2013 and all other applicable

provisions of the Companies Act, 2013 (the “Act”) read with the Companies (Audit and Auditors) Rules, 2014

(including any statutory modification(s) or re-enactment thereof for the time being in force), and pursuant to the

recommendations of the Board of Directors, M/s. Doshi Maru & Associates, Chartered Accountants [ICAI FRNo.

0112187W], Jamnagar, be and are hereby appointed as statutory auditors of the Company, to hold office from the

conclusion of this Annual General Meeting to the conclusion of the AGM of the Company to be held in the year 2022

for the financial year 2021-22 and that the Board of Directors be and are hereby authorized to fix such remuneration

as agreed upon between the Auditors and the Board of Directors.”

Special Business:

4. To pass with or without modifications, the following resolution as an Special Resolution:

“RESOLVED THAT pursuant to the provisions of Foreign Exchange Management Act, 1999, the Foreign

Exchange Management Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017,

read with the Master Directions on Foreign Investment dated January 4, 2018 issued by Reserve Bank of

India, the Consolidated FDI Policy effective from August 28, 2017, as subsequently amended, and all other

Notice of AGM


applicable rules, and regulations, guidelines and laws (including any statutory modifications or re-

enactment thereof for the time being in force) and subject to all applicable approvals, permissions and

sanctions and subject to such conditions as may be prescribed by any of the concerned authorities while

granting such approvals, permissions, the limit of investment by Non Resident Indians (as defined under

FEMA ) in the Equity Shares of the Company under the Portfolio Investment Scheme under FEMA be and is

hereby increase from 10% to 24% of the paid up Equity Share Capital of the Company.”

RESOLVED FURTHER THAT Mr. Arvind K. Shah, Managing Director, Mr. Piyush Vora, Director & CFO of the

Company be and are hereby severally authorized to do all such acts, deeds and things as may be necessary

or expedient to give effect to this resolution including intimating the RBI of the increase in investment limit

applicable to NRI's and filing of necessary forms with ROC.”

For & on Behalf of the Board DirectorsDate : 29/08/2018 Integrated Proteins LimitedPlace : Jamnagar

(Arvindbhai K. Shah) (Piyush C. Vora)Managing Director Director & CFO[DIN: 0094647] [ DIN: 00296074]

Address of Registered Office:

M/s. Integrated Proteins Limited,

CIN: L15400GJ1992PLC018426

City Point, Opp. Town Hall,

Jamnagar – 361 008,

Gujarat - India.

Contact Details:

Phone: 0288-2551901, 2551902, 2551903

E-Mail Id: [email protected]

Website: www.integratedproteins.com

Notice of AGM


EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013:

ITEM NO 3:

The Board has received consent from CA Sarvesh A. Gohil, Partner of Doshi - Maru & Associates, Chartered

Accountants [ICAI FRNo. 0112187W], Jamnagar for acting as a Statutory Auditor of the Company.

The board has recommended their appointment as statutory auditor of the company from this annual general

meeting till the conclusion of Annual General Meeting to be held in year 2022.

No Directors or any of the Key Managerial Personnel of the Company or their relatives are, directly or indirectly,

concerned or interested in the Resolution set out at Item No. 3.

The Board recommends this Ordinary Resolution for your approval.

ITEM NO 4:

As per the Consolidated Foreign Direct Investment Policy, the permissible limit under portfolio investment

schemes through exchanges/any other manner for NRIs is restricted to 10 percent of the paid up capital of the

Company and the same can be raised to 24 percent of the total paid up capital of the Company through a

resolution by the Board of the Company followed by a special resolution to that effect by the General Meeting.

During the year under review, company forfeited 4, 71, 600 Equity shares which resulted in consequent

reduction of share capital by that much number of shares. Due to forfeiture of shares and consequent reduction

of share capital, the investment by Non-Resident Indians (NRI) exceeded permissible limit specified by RBI,

which is informed by the Apex Bank to the Company through its letter FE.CO. FID/10271/11.01.091/2017-18 dated

June 13, 2018.

In this context, the Board of Directors considers it appropriate that necessary approval of the shareholders by

way of special resolution be obtained, so that the permissible limit of investment by Non Resident Indians (NRIs)

Notice of AGM


be increased from 10 % to maximum of 24% of the paid up equity share capital of the Company or such other limit

prescribed by Reserve Bank of India, from time to time.

No Directors or any of the Key Managerial Personnel of the Company or their relatives are, directly or indirectly,

concerned or interested in the Resolution set out at Item No. 4.

The Board recommends this Special Resolution for your approval.

NOTES:

A. A Member entitled to attend and vote at the Annual General Meeting (“the meeting”) is entitled to appoint

a proxy to attend and vote on poll and the proxy need not be a member of the Company. A person can act as

proxy on behalf of members not exceeding fifty (50) and holding in the aggregate not more than ten

percent of the total share capital of the Company carrying voting rights. A member holding more than ten

percent of the total share capital may appoint a single person as proxy and such person shall not act as a

proxy for any other person or member. The instrument of Proxy, in order to be effective, should be

deposited at the Registered Office of the Company, duly completed and signed, not less than 48 hours

before the commencement of the meeting. Proxies submitted on behalf of limited companies, societies,

etc., must be supported by appropriate resolutions/authority, as applicable.

B. The Register of Members and Share Transfer Books of the Company will remain closed from Thursday,

September 20, 2018 TO Thursday, September 27, 2018(both days inclusive) for the purpose of Annual

General Meeting.

C. Members holding shares in physical form are requested to advise any change of address, bank details etc.

immediately to the Company’s Registrar and Share Transfer Agents, M/s. Cameo Corporate Services Ltd.

D. Electronic copy of the Annual report is being sent to all the members whose email IDs are registered with

the Company/Depository Participants (s) unless any member has requested for a hard copy of the same. For

members who have not registered their email address, physical copies of the Annual report is being sent in

the permitted mode.

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E. To promote green initiative, members are requested to register their e-mail addresses through their

Depository Participants for sending the future communications by e-mail. Members holding the shares in

physical form may register their e-mail addresses through the RTA, giving reference of their Folio Number.

Members may also note that the Annual Report for FY 2017-18 will also be available on the Company’s

website www.integratedproteins.com for their download.

F. In terms of Section 152 of the 2013 Act, Mr Vinod Prabhulal Mehta, Director [DIN:00094718], retire by

rotation at this Meeting and being eligible, offer himself for reappointment. The Board of Directors of the

Company re -commends his re-appointment.

G. In Compliance with provisions of Section 108 of the Companies Act, 2013 and Rule 20 of the Companies

(Management and Administration) Rules, 2014, the Company is providing facility to the members to exercise

their right to vote at the 25th Annual General Meeting (AGM) by electronic means and the business may be

transacted through e-voting platform provided by National Securities Depository Limited (NSDL).

H. The person whose name is recorded in the register of members or in the register of beneficial owners

maintained by the depositories as on Friday, 21st September, 2018 i.e. cutoff date only shall be entitled to

avail the facility of remote e-voting as well as the voting in the Annual General Meeting. The members may

cast their votes on electronic voting system from place other than the venue of the meeting (remote e-

voting). The remote e-voting period will commence at 9.00 a.m. on Monday, 24thSeptember, 2018 and will

end at 5.00 p.m. on Wednesday, 26th September, 2018. In addition, the facility for voting through electronic

voting system shall also be made available at the AGM and the Members attending the AGM who have not

cast their vote by remote e-voting shall be eligible to vote at the AGM. The Company has appointed CS Vijay

Anadkat, Practising Company Secretary to act as the Scrutinizer & scrutinize the entire e-voting process and

polling process in Annual General Meeting in a fair and transparent manner. The instructions for e-voting

with User Id and Password is being sent by electronic mode to all members whose email addresses are

registered with the Company/Depository Participant(s) unless a member has requested for a hard copy of

the same. For members who have not registered their email addresses, physical copies are being sent by the

permitted mode. The instructions for remote e-voting are give hereunder after closure of notes.

Notice of AGM


I. All documents referred to in the accompanying Notice shall be open for inspection at the Registered Office

of the Company during normal business hours (9 A.M. to 5 P.M.) on all working days except Saturdays and

Sundays, up to and including the date of the Annual General Meeting of the Company.

J. Members are advised to refer to the information provided in the Annual Report.

Notice of AGM


BRIEF PROFILE OF DIRECTOR SEEKING RE - APPOINTMENT:

1. Mr Vinod Prabhulal Mehta, Director [DIN:00094718],:

Director’s Name Mr Vinod Prabhulal Mehta

Age 72 years

Date of Appointment as Director in Company

Qualification

29/04/1993

B.Com. , Chartered Accountant

Experience in specific functional area Having Financial Expertise

Directorship held in other public limited

Indian Companies

(excluding Directorship in Integrated

Proteins Limited)

Nil

Membership/Chairmanship of Committees

public limited Indian Companies

(excluding Membership/ Chairmanship of

Committees in Integrated Proteins Limited)

Nil

For & on Behalf of the Board of DirectorsDate : 29/08/2018 Integrated Proteins LimitedPlace : Jamnagar


Notice of AGM


Instructions for e-Voting:

Pursuant to the provisions of Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies

(Management and Administration) Rules, 2014 and as per Regulation 44 of SEBI (Listing Obligations and

Disclosure Requirements), Regulations, 2015, the Company is offering e-voting facility to its members in respect

of the businesses to be transacted at the 25thAnnual General Meeting of the Company.

The Company has engaged the services of National Securities Depository Limited (“NSDL”) as the Authorized

Agency to provide e-voting facilities.

The e-voting facility will be available commence at 9.00 a.m. on Monday, 24thSeptember, 2018 and will end at

5.00 p.m. on Wednesday, 26thSeptember, 2018.

The cut-off date for the purpose of ascertaining the eligibility of members to avail e-voting facility is September

21st, 2018. The voting rights of members shall be in proportion to their share in the paid-up equity share capital of

the Company as on the cut-off date.

Attention is invited to the statement on the accompanying Notice that all businesses at the meeting may be

transacted through electronic voting system and that the Company is providing facility for voting by electronic

means.

E-voting instructions :-

How do I vote electronically using NSDL e-Voting system?

The way to vote electronically on NSDL e-Voting system consists of “Two Steps” which are mentionedbelow:

Step 1 : Log-in to NSDL e-Voting system at https://www.evoting.nsdl.com/Step 2 : Cast your vote electronically on NSDL e-Voting system.

Details on Step 1 is mentioned below:

Notice of AGM


How to Log-into NSDL e-Voting website?

1. Visit the e-Voting website of NSDL. Open web browser by typing the following URL:https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile.

2. Once the home page of e-Voting system is launched, click on the icon “Login” which isavailable under ‘Shareholders’ section.

3. A new screen will open. You will have to enter your User ID, your Password and aVerification Code as shown on the screen.

Alternatively, if you are registered for NSDL eservices i.e. IDEAS, you can log-in athttps://eservices.nsdl.com/ with your existing IDEAS login. Once you log-in to NSDL eservices afterusing your log-in credentials, click on e-Voting and you can proceed to Step 2 i.e. Cast your voteelectronically.

4. Your User ID details are given below :

Manner of holding shares i.e. Demat(NSDL or CDSL) or Physical

Your User ID is:

a) For Members who hold shares indemat account with NSDL.

8 Character DP ID followed by 8 DigitClient ID

For example if your DP ID is IN300***and Client ID is 12****** then your userID is IN300***12******.

b) For Members who holdshares indemat account with CDSL.

16 Digit Beneficiary ID

For example if your Beneficiary ID is12************** then your user ID is12**************

c) For Members holding shares inPhysical Form.

EVEN Number followed by FolioNumber registered with the company

For example if folio number is 001***and EVEN is 101456 then user ID is101456001***

5. Your password details are given below:

a) If you are already registered for e-Voting, then you can user your existing password

Notice of AGM


to login and cast your vote.

b) If you are using NSDL e-Voting system for the first time, you will need to retrieve the‘initial password’ which was communicated to you. Once you retrieve your ‘initialpassword’, you need to enter the ‘initial password’ and the system will force you tochange your password.

c) How to retrieve your ‘initial password’?

(i) If your email ID is registered in your demat account or with the company,your ‘initial password’ is communicated to you on your email ID. Trace theemail sent to you from NSDL from your mailbox. Open the email and openthe attachment i.e. a .pdf file. Open the .pdf file. The password to open the.pdf file is your 8 digit client ID for NSDL account, last 8 digits of client IDfor CDSL account or folio number for shares held in physical form. The .pdffile contains your ‘User ID’ and your ‘initial password’.

(ii) If your email ID is not registered, your ‘initial password’ is communicated toyou on your postal address.

6. If you are unable to retrieve or have not received the “ Initial password” or have forgottenyour password:

a) Click on “Forgot User Details/Password?”(If you are holding shares in your demataccount with NSDL or CDSL) option available on www.evoting.nsdl.com.

b) Physical User Reset Password?” (If you are holding shares in physical mode) optionavailable on www.evoting.nsdl.com.

c) If you are still unable to get the password by aforesaid two options, you can send arequest at [email protected] mentioning your demat account number/folio number,your PAN,your name and your registered address.

7. After entering your password, tick on Agree to “Terms and Conditions” by selecting on thecheck box.

8. Now, you will have to click on “Login” button.

9. After you click on the “Login” button, Home page of e-Voting will open.

Notice of AGM


Details on Step 2 is given below:How to cast your vote electronically on NSDL e-Voting system?1. After successful login at Step 1, you will be able to see the Home page of e-Voting.Click

on e-Voting. Then,click on Active Voting Cycles.

2. After click on Active Voting Cycles, you will be able to see all the companies “EVEN”in which you are holding shares and whose voting cycle is in active status.

3. Select “EVEN” of company for which you wish to cast your vote.

4. Now you are ready for e-Voting as the Voting page opens.

5. Cast your vote by selecting appropriate options i.e. assent or dissent, verify/modify thenumber of shares for which you wish to cast your vote and click on “Submit” and also“Confirm” when prompted.

6. Upon confirmation, the message “Vote cast successfully” will be displayed.

7. You can also take the printout of the votes cast by you by clicking on the print option onthe confirmation page.

8. Once you confirm your vote on the resolution, you will not be allowed to modify yourvote.

General Guidelines for shareholders

1 Institutional shareholders (i.e. other than individuals, HUF, NRI etc.) are required to sendscanned copy (PDF/JPG Format) of the relevant Board Resolution/ Authority letter etc.with attested specimen signature of the duly authorized signatory(ies) who are authorizedto vote, to the Scrutinizer by e-mail to [email protected] with a copy markedto [email protected].

2. It is strongly recommended not to share your password with any other person and takeutmost care to keep your password confidential. Login to the e-voting website will bedisabled upon five unsuccessful attempts to key in the correct password. In such an event,you will need to go through the “Forgot User Details/Password?” or “Physical User ResetPassword?” option available on www.evoting.nsdl.com to reset the password.

3. In case of any queries, you may refer the Frequently Asked Questions (FAQs) forShareholders and e-voting user manual for Shareholders available at the download

Notice of AGM


section of www.evoting.nsdl.com or call on toll free no.: 1800-222-990 or send a [email protected]

In case of any queries, related to website or other issues you may contact NSDL Help Desk at Tel No. (Toll Free)

1800-222-990 /022-2499 4600/ e-mail at [email protected]

Contact: Mr. Amit Vishal - 022-24994360/Mr Sagar Dharankar - 022-24994262 / Mr. Rajeev Ranjan - 022-24994738

Mail at:

National Securities Depository Limited,

TradeWorld, 'A'Wing, 4th Floor,

Kamala Mills Compound,

Senapati Bapat Marg, Lower Parel,

MUMBAI 400 013

Email at:

[email protected]

CS Vijay Anadkat, Practicing Company Secretaries (Membership No. A27373) has been appointed as the

Scrutinizer to scrutinize the e-voting process in a fair and transparent manner.

The Results shall be declared on or after the AGM of the Company. The Results along with the Scrutinizer's

Report (s) will be available on the website of the Company www.integratedproteins.com and on NSDL’s website

https://www.evoting.nsdl.com within two (2) days of passing of the resolutions at the AGM and communicated

to the BSE Limited, where the shares of the Company are listed.

Notice of AGM


Form No. MGT-11 PROXY FORM

[Pursuant to Section 105(6) of the Companies Act, 2013 and rule 19(3) of the Companies (Management and

Administration) Rules, 2014.]

Integrated Proteins Limited, CIN: L15400GJ1992PLC018426

City Point, Opp. Town Hall, Jamnagar – 361 008

I/ We being the member of …………, holding…..shares, hereby appoint

1. Name:

Address:

E-mail Id:

Signature: ……….., or failing him

2. Name:

Address:

E-mail Id:

Signature: ……….., or failing him

as my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at 25th Annual General Meeting

of members of the Company, to be held on Thursday, 27th September, 2018 at the registered office of the

Company at

Name of the Member(s): _____________________________________ _____________________________

Registered address: ______________________________________________________________________

_______________________________________________________________________________________

E-mail Id: _______________________________________________________________________________

Folio No/ Clint Id: ________________________________________________________________________

DP ID: _________________________________________________________________________________

Notice of AGM


City Point, Opp. Town Hall, Jamnagar – 361008,and at any adjournment thereof in respect of such resolutions as

are indicated below:

Resolutions Assent/Dissent/Neutral

ORDINARY BUSINESS :

1. To receive, consider and adopt the Audited Financial Statements of the

Company for the year ended March 31, 2018 and the report of the Board

of Directors and Auditors thereon

2. To appoint a Director in place of Mr. Vinod P. Mehta, Director (DIN :

00094718) who retires by rotation and being eligible, offers himself for re-

appointment.

3. To appoint, M/s. Doshi Maru & Associates, Chartered Accountants

[ICAI FRNo. 0112187W], Jamnagar hereby as statutory auditors of the

Company.

SPECIAL BUSINESS :

4. To increase limit of investment by Non-Resident Indian from 10% to

24% of the paid-up capital of the company

Signed this ______day of_________ 2018

Signature of Shareholder

Signature of Proxy holder(s)

Note: This form of proxy in order to be effective should be duly completed and deposited at the Registered Office of

the Company, before the commencement of the Meeting.

Affix RevenueStamp

Notice of AGM


ROUTE MAP OF THE AGM VENUE

AGM VENUE :5th Floor,City Point,Opp. Town Hall,Jamnagar - 361008

Report of the Board of Directors


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DDEECCLLAARRAATTIIOONN OOFF DDIIVVIIDDEENNDD && TTRRAANNSSFFEERR TTOO RREESSEERRVVEESS ::IInn oorrddeerr ttoo ccoonnsseerrvvee rreessoouurrcceess ffoorr bbuussiinneessss ddeevveellooppmmeenntt,, yyoouurr DDiirreeccttoorrss ddoo nnoott rreeccoommmmeenndd aannyyddiivviiddeenndd.. MMoorreeoovveerr,, nnoo aammoouunntt iiss bbeeiinngg ttrraannssffeerrrreedd ttoo tthhee RReesseerrvveess dduurriinngg tthhee ffiinnaanncciiaall yyeeaarr 22001177--1188..

CCHHAANNGGEE IINN NNAATTUURREE OOFF BBUUSSIINNEESSSS::TThheerree hhaass bbeeeenn nnoo cchhaannggee iinn nnaattuurree ooff bbuussiinneessss ooff tthhee ccoommppaannyy dduurriinngg tthhee yyeeaarr uunnddeerr rreevviieeww..

CCOONNVVEERRSSIIOONN OOFF PPAARRTTLLYY PPAAIIDD--UUPP SSHHAARREESS IINNTTOO FFUULLLLYY PPAAIIDD--UUPP::DDuurriinngg tthhee yyeeaarr uunnddeerr rreevviieeww,, tthhee ccoommppaannyy hhaass iissssuueedd ccaallll mmoonneeyy nnoottiicceess ttoo 448877 sshhaarreehhoollddeerrss hhoollddiinngg44,,8866,,000000 sshhaarreess rreeqquueessttiinngg ppaayymmeenntt ooff tthhee uunnppaaiidd AAlllloottmmeenntt ccuumm FFiinnaall CCaallll MMoonneeyy.. TThhee ssaaiidd nnoottiiccee wwaassddiissppaattcchheedd ttoo 448877 sshhaarreehhoollddeerrss iinn tthhee mmoonntthh ooff MMaayy,, 22001177,, AAuugguusstt,, 22001177 aanndd DDeecceemmbbeerr,, 22001177 aass 11sstt,, 22nnddaanndd33rrdd&& FFiinnaall CCaallll MMoonneeyy NNoottiiccee..

TThhee ccoommppaannyy aatt iittss BBooaarrdd MMeeeettiinngg hheelldd oonn 2288tthh MMaarrcchh,, 22001188 aacckknnoowwlleeddggeedd tthhee rreecceeiipptt ooff 5511,,000000//-- rreecceeiivveeddffrroomm 3300 sshhaarreehhoollddeerrss hhoollddiinngg 1144,,440000 sshhaarreess aanndd ccoonnvveerrtteedd tthheeiirr ppaarrttllyy ppaaiidd--uupp sshhaarreess iinnttoo ffuullllyy ppaaiidd ––uupp..



FFOORRFFEEIITTUURREE OOFF SSHHAARREESS::IInniittiiaallllyy,, tthhee ccoommppaannyy’’ss eeqquuiittyy sshhaarree ccaappiittaall ccoonnssiissttss ooff 3366,,7755,,220000 EEqquuiittyy SShhaarreess oouutt ooff wwhhiicchh 44,,8866,,000000ppaarrttllyy--ppaaiidd uupp sshhaarreess wweerree hheelldd bbyy 448877 sshhaarreehhoollddeerrss.. IInn tthhiiss ccoonntteexxtt,, tthhee ccoommppaannyy ddiissppaattcchheedd nnoottiiccee ttoo448877 sshhaarreehhoollddeerrss iinn tthhee mmoonntthh ooff MMaayy,, 22001177,, AAuugguusstt,, 22001177 aanndd DDeecceemmbbeerr,, 22001177 aass 11sstt,, 22nndd aanndd 33rrdd&& FFiinnaall CCaallllMMoonneeyy NNoottiiccee.. IInn rreessppoonnssee ttoo tthhiiss,, tthhee ccoommppaannyy rreecceeiivveedd RRss.. 5511,,000000//-- ffrroomm 3300 sshhaarreehhoollddeerrss hhoollddiinngg 1144,,440000sshhaarreess..

TThhee ccoommppaannyy aatt iittss BBooaarrdd MMeeeettiinngg hheelldd oonn 2299tthh MMaarrcchh,, 22001188 aacckknnoowwlleeddggeedd tthhee rreecceeiipptt ooff RRss.. 5511,,000000//--rreecceeiivveedd ffrroomm 3300 sshhaarreehhoollddeerrss hhoollddiinngg 1144,,440000 sshhaarreess aanndd ffoorrffeeiitteedd rreemmaaiinniinngg 44,,7711,,660000 sshhaarreess..

SSHHAARREE CCAAPPIITTAALL::TThhee ppaaiidd--uupp EEqquuiittyy SShhaarree ccaappiittaall aass oonn MMaarrcchh 3311sstt,, 22001188 wwaass RRss.. 33,,5522,,0022,,000000//--.. ddiivviiddeedd iinn ttoo 3322,,0033,,660000 EEqquuiittyySShhaarreess.. DDuurriinngg tthhee yyeeaarr uunnddeerr rreevviieeww,, tthhee CCoommppaannyy hhaass nnoott iissssuueedd aannyy sshhaarree oorr aannyy ccoonnvveerrttiibblleeiinnssttrruummeenntt..

DDuurriinngg tthhee yyeeaarr,, tthhee ccoommppaannyy hhaass ddiissppaattcchheedd nnoottiiccee ttoo iittss sshhaarreehhoollddeerrss hhoollddiinngg ppaarrttllyy ppaaiidd sshhaarreessrreeqquueessttiinngg ppaayymmeenntt ooff tthhee uunnppaaiidd AAlllloottmmeenntt ccuumm FFiinnaall CCaallll MMoonneeyy.. TThhee ssaaiidd nnoottiiccee wwaass ddiissppaattcchheedd ttoo 448877sshhaarreehhoollddeerrss hhoollddiinngg 44,,8866,,000000 sshhaarreess iinn tthhee mmoonntthh ooff MMaayy,, 22001177,, AAuugguusstt,, 22001177 aanndd DDeecceemmbbeerr,, 22001177 aass 11sstt ,,22nndd AAnndd 33rrdd&& FFiinnaall CCaallll MMoonneeyy NNoottiiccee..

IInn rreessppoonnssee ttoo tthhee aabboovvee nnoottiiccee 3300 sshhaarreehhoollddeerrss oouutt ooff ttoottaall 448877 sshhaarreehhoollddeerrss hhoollddiinngg 1144,,440000 sshhaarreess ppaaiiddRRss 5511,,000000//-- ttoowwaarrddss tthheeiirr AAlllloottmmeenntt ccuumm FFiinnaall CCaallll MMoonneeyy.. OOnn tthhee rreecceeiipptt ooff aabboovvee mmeennttiioonneedd aammoouunntt,,1144,,440000 sshhaarreess wweerree ccoonnvveerrtteedd ffrroomm ppaarrttllyy ppaaiidd ttoo ffuullllyy ppaaiidd ––uupp aanndd tthhee ccoommppaannyy ffoorrffeeiitteedd rreemmaaiinniinnggbbaallaannccee ooff 44,,7711,,660000 sshhaarreess iinn tthhee mmoonntthh ooff MMaarrcchh..

DDEETTAAIILLSS OOFF SSUUBBSSIIDDIIAARRIIEESS,, JJOOIINNTT VVEENNTTUURREE AANNDD AASSSSOOCCIIAATTEE CCOOMMPPAANNIIEESS::DDuurriinngg tthhee yyeeaarr uunnddeerr rreevviieeww,, tthhee ccoommppaannyy ddooeessnn’’tt hhaavvee aannyy ssuubbssiiddiiaarriieess,, jjooiinntt vveennttuurree aanndd aassssoocciiaatteessccoommppaanniieess aanndd hheenncceeffoorrtthh ddooeess nnoott ffaallll uunnddeerr tthhee ppuurrvviieeww ooff SSeeccttiioonn 112299((33)) ooff tthhee CCoommppaanniieess AAcctt,, 22001133..

PPAARRTTIICCUULLAARRSS OOFF LLOOAANN,, GGUUAARRAANNTTEEEESS AANNDD IINNVVEESSTTMMEENNTTSS::PPuurrssuuaanntt ttoo SSeeccttiioonn 118866 ooff tthhee CCoommppaanniieess AAcctt,, 22001133 aanndd SScchheedduullee VV ooff tthhee LLiissttiinngg RReegguullaattiioonnss,, ddiisscclloossuurreeoonn ppaarrttiiccuullaarrss rreellaatteedd ttoo llooaannss,, aaddvvaanncceess,, gguuaarraanntteeeess aanndd iinnvveessttmmeennttss aarree pprroovviiddeedd aass ffiinnaanncciiaallssttaatteemmeennttss..

DDEEPPOOSSIITTSS::YYoouurr CCoommppaannyy hhaass nnoott aacccceepptteedd aannyy ddeeppoossiittss ffrroomm ppuubblliicc aanndd aass ssuucchh,, nnoo aammoouunntt oonn aaccccoouunntt ooff pprriinncciippaalloorr iinntteerreesstt oonn ppuubblliicc ddeeppoossiittss wwaass oouuttssttaannddiinngg aass oonn tthhee ddaattee ooff tthhee bbaallaannccee sshheeeett..

BBOOAARRDD CCOOMMPPOOSSIITTIIOONN::CCoommppoossiittiioonn ooff BBooaarrdd ooff DDiirreeccttoorrss aass oonn 3311sstt MMaarrcchh,, 22001188 iiss aannnneexxeedd aass AAnnnneexxuurree–– AA ttoo tthhiiss rreeppoorrtt aannddffoorrmmss ppaarrtt ooff tthhiiss rreeppoorrtt.. IItt iiss wwiitthh tthhee ddeeeeppeesstt ssoorrrrooww tthhaatt yyoouurr ddiirreeccttoorrss iinnffoorrmm aabboouutt tthhee ssaadd ddeemmiissee ooffMMrr.. CChhaannddrraassiinnhh CC.. UUddeesshhii,, IInnddeeppeennddeenntt DDiirreeccttoorr oonn 1199tthh JJaannuuaarryy,, 22001188..

CCOOMMMMIITTTTEEEESS OOFF TTHHEE BBOOAARRDD::TThhee CCoommppaannyy’’ss BBooaarrdd hhaass tthhee ffoolllloowwiinngg ccoommmmiitttteeeess::11.. AAuuddiitt CCoommmmiitttteeee..22.. NNoommiinnaattiioonn aanndd RReemmuunneerraattiioonn CCoommmmiitttteeee..33.. SShhaarreehhoollddeerrss GGrriieevvaannccee CCoommmmiitttteeee..



DDeettaaiillss ooff tteerrmmss ooff rreeffeerreennccee ooff tthhee CCoommmmiitttteeeess,, CCoommmmiitttteeee mmeemmbbeerrsshhiipp aarree pprroovviiddeedd iinn AAnnnneexxuurree –– AA oofftthhiiss AAnnnnuuaall RReeppoorrtt..

DDEECCLLAARRAATTIIOONN OOFF IINNDDEEPPEENNDDEENNCCYY BBYY IINNDDEEPPEENNDDEENNTT DDIIRREECCTTOORRSS::IInn ppuurrssuuaannccee ttoo SSeeccttiioonn 114499((77)) ooff tthhee CCoommppaanniieess AAcctt,, 22001133,, CCoommppaannyy hhaass rreecceeiivveedd ddeeccllaarraattiioonnss ffrroomm eeaacchhIInnddeeppeennddeenntt DDiirreeccttoorr ssaattiissffyyiinngg tthhee ccrriitteerriiaa ooff iinnddeeppeennddeennccee llaaiidd ddoowwnn iinn SSeeccttiioonn 114499((66)) ooff tthheeCCoommppaanniieess AAcctt,, 22001133..

NNUUMMBBEERR OOFF BBOOAARRDD MMEEEETTIINNGGSS AANNDD CCOOMMMMIITTTTEEEE MMEEEETTIINNGGSS::TThhee BBooaarrdd mmeett sseevveenn ttiimmeess dduurriinngg tthhee ffiinnaanncciiaall yyeeaarr 22001177--1188 oonn 2255//0055//22001177,, 0066//0066//22001177,, 1177//0077//22001177,,1100//0088//22001177,, 1144//1122//22001177,, 2299//0011//22001188 aanndd 2299//0033//22001188.. TThhee mmaaxxiimmuumm iinntteerrvvaall bbeettwweeeenn aannyy ttwwoo mmeeeettiinnggss ddiiddnnoott eexxcceeeedd 112200 ddaayyss..

DDeettaaiillss ooff aatttteennddaannccee ooff ddiirreeccttoorrss aatt bbooaarrdd mmeeeettiinnggss aanndd ddeettaaiillss ooff nnuummbbeerr ooff ccoommmmiitttteeee mmeeeettiinnggss hheelldddduurriinngg tthhee ffiinnaanncciiaall yyeeaarr aanndd tthheerree aatttteennddaannccee tthheerreeoonn iiss aattttaacchheedd ttoo tthhiiss rreeppoorrtt aass AAnnnneexxuurree –– BB..

SSEEPPAARRAATTEE MMEEEETTIINNGG OOFF IINNDDEEPPEENNDDEENNTT DDIIRREECCTTOORRSSPPuurrssuuaanntt ttoo tthhee pprroovviissiioonnss ooff aanndd SScchheedduullee IIVV ooff tthhee CCoommppaanniieess AAcctt,, 22001133,, sseeppaarraattee mmeeeettiinngg ooffIInnddeeppeennddeenntt DDiirreeccttoorrss wwaass hheelldd oonn 2299tthh MMaarrcchh,, 22001188 ttoo rreevviieeww tthhee ppeerrffoorrmmaannccee ooff nnoonn--iinnddeeppeennddeennttddiirreeccttoorrss aanndd tthhee BBooaarrdd aass aa wwhhoollee;; rreevviieeww tthhee ppeerrffoorrmmaannccee ooff tthhee CChhaaiirrppeerrssoonn ooff tthhee CCoommppaannyy,, ttaakkiinnggiinnttoo aaccccoouunntt tthhee vviieewwss ooff eexxeeccuuttiivvee ddiirreeccttoorrss aanndd nnoonn-- eexxeeccuuttiivvee ddiirreeccttoorrss aanndd ttoo aasssseess tthhee qquuaalliittyy,,qquuaannttiittyy aanndd ttiimmeelliinneessss ooff ffllooww ooff iinnffoorrmmaattiioonn bbeettwweeeenn tthhee mmaannaaggeemmeenntt aanndd tthhee BBooaarrdd,, wwhhiicchh iissnneecceessssaarryy ffoorr tthhee BBooaarrdd ttoo eeffffeeccttiivveellyy aanndd rreeaassoonnaabbllyy ppeerrffoorrmm tthheeiirr dduuttiieess..

DDIIRREECCTTOORRSS AANNDD KKEEYY MMAANNAAGGEERRIIAALL PPEERRSSOONNNNEELL::AAtt tthhee 2244tthh AAnnnnuuaall GGeenneerraall MMeeeettiinngg ((AAGGMM)) hheelldd oonn 2211sstt SSeepptteemmbbeerr,,22001177,, MMrr AArrvviinndd KK.. SShhaahh wwaass rree--aappppooiinntteedd aass aa MMaannaaggiinngg DDiirreeccttoorr ooff tthhee CCoommppaannyy (( ddeessiiggnnaatteedd aass CChhaaiirrmmaann aanndd MMaannaaggiinngg DDiirreeccttoorr))ttoohhoolldd ooffffiiccee wwiitthh eeffffeecctt ffrroomm JJuullyy 1177,, 22001177 ttoo JJuullyy 1166,, 22001199..

TThhee bbooaarrdd aacccceepptteedd rreessiiggnnaattiioonn tteennddeerreedd bbyy CCSS BBiinnddiiyyaa AA.. CChhaattttbbaarr ffrroomm tthhee ppoosstt ooff CCoommppaannyy SSeeccrreettaarryyaanndd CCoommpplliiaannccee OOffffiicceerr aatt tthhee BBooaarrdd mmeeeettiinngg hheelldd oonn 1144//0066//22001188 aanndd aappppooiinntteedd CCSS DDeevvaannsshhii VV.. SShhaahh aassCCoommppaannyy SSeeccrreettaarryy aanndd CCoommpplliiaannccee OOffffiicceerr ooff tthhee CCoommppaannyy..

AAtt tthhee BBooaarrdd MMeeeettiinngg hheelldd oonn 2244//0088//22001188,, BBooaarrdd aacccceepptteedd rreessiiggnnaattiioonn tteennddeerreedd bbyy MMrr.. PPrraavviinn NN.. SShheetthh aassCCFFOO aanndd iinn tthhee ssaammee mmeeeettiinngg MMrr.. PPiiyyuusshh CC.. VVoorraa wwaass aappppooiinntteedd aass CCFFOO..

AAtt tthhee BBooaarrdd MMeeeettiinngg hheelldd oonn 2288//0088//22001188,, MMrr.. AArrvviinndd KK.. SShhaahh rreessiiggnneedd ffrroomm tthhee ppoosstt ooff CChhaaiirrmmaann aanndd iinntthhee ssaammee mmeeeettiinngg MMrr.. VViinnoodd PP.. MMeehhttaa wwaass aappppooiinntteedd aass CChhaaiirrmmaann..

PPuurrssuuaanntt ttoo tthhee pprroovviissiioonnss ooff SSeeccttiioonn 115522 ooff tthhee CCoommppaanniieess AAcctt,, 22001133 aanndd tthhee AArrttiicclleess ooff AAssssoocciiaattiioonn ooff tthheeCCoommppaannyy,, MMrr.. VViinnoodd PPrraabbhhuullaall MMeehhttaa wwiillll rreettiirree bbyy rroottaattiioonn aatt tthhee 2255tthh AAGGMM aanndd bbeeiinngg eelliiggiibbllee,, hhaass ooffffeerreeddhhiimmsseellff ffoorr rree--aappppooiinnttmmeenntt..

FFOORRMMAALL EEVVAALLUUAATTIIOONN OOFF BBOOAARRDD,, IITT’’SS CCOOMMMMIITTTTEEEESS::IInn lliinnee wwiitthh tthhee CCoorrppoorraattee GGoovveerrnnaannccee GGuuiiddeelliinneess ooff tthhee CCoommppaannyy,, AAnnnnuuaall PPeerrffoorrmmaannccee EEvvaalluuaattiioonn wwaassccoonndduucctteedd ffoorr aallll BBooaarrdd MMeemmbbeerrss aass wweellll aass tthhee wwoorrkkiinngg ooff tthhee BBooaarrdd aanndd iittss CCoommmmiitttteeeess.. TThhiiss eevvaalluuaattiioonnwwaass lleedd bbyy tthhee CChhaaiirrmmaann ooff tthhee NNoommiinnaattiioonn aanndd RReemmuunneerraattiioonn CCoommmmiitttteeee wwiitthh ssppeecciiffiicc ffooccuuss oonn tthheeppeerrffoorrmmaannccee aanndd eeffffeeccttiivvee ffuunnccttiioonniinngg ooff tthhee BBooaarrdd..

EEvvaalluuaattiioonn ooff tthhee BBooaarrdd wwaass bbaasseedd oonn ccrriitteerriiaa ssuucchh aass ccoommppoossiittiioonn aanndd rroollee ooff tthhee BBooaarrdd,, BBooaarrddccoommmmuunniiccaattiioonn aanndd rreellaattiioonnsshhiippss,, ffuunnccttiioonniinngg ooff BBooaarrdd CCoommmmiitttteeeess,, rreevviieeww ooff ppeerrffoorrmmaannccee aanndd



ccoommppeennssaattiioonn ttoo EExxeeccuuttiivvee DDiirreeccttoorrss.. EEvvaalluuaattiioonn ooff DDiirreeccttoorrss wwaass bbaasseedd oonn ccrriitteerriiaa ssuucchh aass ppaarrttiicciippaattiioonnaanndd ccoonnttrriibbuuttiioonn iinn BBooaarrdd aanndd CCoommmmiitttteeee mmeeeettiinnggss,, uunnddeerrssttaannddiinngg ooff tthhee oorrggaanniizzaattiioonn’’ss ssttrraatteeggyy,, rriisskkaanndd eennvviirroonnmmeenntt,, eettcc.. EEvvaalluuaattiioonn ooff CCoommmmiitttteeeess wwaass bbaasseedd oonn ccrriitteerriiaa ssuucchh aass aaddeeqquuaattee iinnddeeppeennddeennccee ooffeeaacchh CCoommmmiitttteeee,, ffrreeqquueennccyy ooff mmeeeettiinnggss aanndd ttiimmee aallllooccaatteedd ffoorr ddiissccuussssiioonnss aatt mmeeeettiinnggss,, ffuunnccttiioonniinngg ooffBBooaarrdd CCoommmmiitttteeeess aanndd eeffffeeccttiivveenneessss ooff iittss aaddvviiccee//rreeccoommmmeennddaattiioonn ttoo tthhee BBooaarrdd,, eettcc.. TThhee BBooaarrdd hhaass aallssoonnootteedd aarreeaass rreeqquuiirriinngg mmoorree ffooccuuss iinn tthhee ffuuttuurree..

PPOOLLIICCYY OONN DDIIRREECCTTOORR’’SS AAPPPPOOIINNTTMMEENNTT AANNDD RREEMMUUNNEERRAATTIIOONN::TThhee NNoommiinnaattiioonn aanndd RReemmuunneerraattiioonn CCoommmmiitttteeee hhaass ffrraammeedd aa ppoolliiccyy ffoorr sseelleeccttiioonn aanndd aappppooiinnttmmeenntt ooffDDiirreeccttoorrss iinncclluuddiinngg ddeetteerrmmiinniinngg qquuaalliiffiiccaattiioonnss aanndd iinnddeeppeennddeennccee ooff aa DDiirreeccttoorr,, KKeeyy MMaannaaggeerriiaall PPeerrssoonnnneell,,SSeenniioorr MMaannaaggeemmeenntt PPeerrssoonnnneell aanndd tthheeiirr rreemmuunneerraattiioonn aass ppaarrtt ooff iittss cchhaarrtteerr aanndd ootthheerr mmaatttteerrss pprroovviiddeedduunnddeerr SSeeccttiioonn 117788((33)) ooff tthhee CCoommppaanniieess AAcctt,, 22001133.. TThhee ppoolliiccyy ccoovveerriinngg tthheessee rreeqquuiirreemmeennttss iiss pprroovviiddeedd aassAAnnnneexxuurree-- CC ttoo tthhiiss rreeppoorrtt aanndd hhaass bbeeeenn uuppllooaaddeedd oonn tthhee wweebbssiittee ooff tthhee ccoommppaannyy aatthhttttppss::////wwwwww..iinntteeggrraatteeddpprrootteeiinnss..ccoomm//ppddff//ppoolliicciieess//NNOOMMIINNAATTIIOONN__AANNDD__RREEMMUUNNEERRAATTIIOONN__PPOOLLIICCYY..ppddff..

VVIIGGIILL MMEECCHHAANNIISSMM::AAss ppeerr tthhee pprroovviissiioonnss ooff SSeeccttiioonn 117777((99)) aanndd ((1100)) ooff tthhee CCoommppaanniieess AAcctt,, 22001133 aanndd rreegguullaattiioonn 2222 ooff tthhee LLiissttiinnggRReegguullaattiioonnss,, aa VViiggiill MMeecchhaanniissmm PPoolliiccyy hhaass bbeeeenn aaddoopptteedd bbyy tthhee CCoommppaannyy.. UUnnddeerr tthhiiss ppoolliiccyy,, yyoouurrCCoommppaannyy eennccoouurraaggeess iittss eemmppllooyyeeeess//ddiirreeccttoorrss ttoo rreeppoorrtt aannyy rreeppoorrttiinngg ooff ffrraauudduulleenntt ffiinnaanncciiaall oorr ootthheerriinnffoorrmmaattiioonn ttoo tthhee ssttaakkeehhoollddeerrss,, aanndd aannyy ccoonndduucctt tthhaatt rreessuullttss iinn vviioollaattiioonn ooff tthhee CCoommppaannyy’’ss ccooddee ooffbbuussiinneessss ccoonndduucctt,, ttoo tthhee mmaannaaggeemmeenntt ((oonn aann aannoonnyymmoouuss bbaassiiss,, iiff eemmppllooyyeeeess ssoo ddeessiirree)).. TThhee VViiggiillMMeecchhaanniissmm PPoolliiccyy hhaass bbeeeenn uuppllooaaddeedd oonn tthhee wweebbssiittee ooff tthhee ccoommppaannyy aatt wwwwww..iinntteeggrraatteeddpprrootteeiinnss..ccoomm..

RRIISSKK MMAANNAAGGEEMMEENNTT::TThhee CCoommppaannyy hhaass lloonngg bbeeeenn ffoolllloowwiinngg tthhee pprriinncciippllee ooff rriisskk mmiinniimmiizzaattiioonn aass iitt iiss tthhee nnoorrmm iinn eevveerryy iinndduussttrryy..TThhee BBooaarrdd ffoorrmmaallllyy aaddoopptteedd sstteeppss ffoorr ffrraammiinngg,, iimmpplleemmeennttiinngg aanndd mmoonniittoorriinngg tthhee rriisskk mmaannaaggeemmeenntt ppllaannffoorr tthhee ccoommppaannyy.. TThhee mmaaiinn oobbjjeeccttiivvee ooff tthhiiss ppoolliiccyy iiss ttoo eennssuurree ssuussttaaiinnaabbllee bbuussiinneessss ggrroowwtthh wwiitthh ssttaabbiilliittyyaanndd ttoo pprroommoottee pprroo--aaccttiivvee aapppprrooaacchh iinn rreeppoorrttiinngg,, eevvaalluuaattiinngg aanndd rreessoollvviinngg rriisskkss aassssoocciiaatteess wwiitthh tthheebbuussiinneessss.. IInn oorrddeerr,, ttoo aacchhiieevvee tthhee kkeeyy oobbjjeeccttiivvee,, tthhee ppoolliiccyy eessttaabblliisshheess aa ssttrruuccttuurreedd aanndd ddiisscciipplliinneeddaapppprrooaacchh ttoo RRiisskk MMaannaaggeemmeenntt,, wwhhiicchh sseerrvveess aass aa gguuiiddeelliinnee ffoorr ddeecciissiioonnss oonn rriisskk rreellaatteedd iissssuueess..

TThhee ccoommmmoonn rriisskkss aaffffeeccttiinngg ccoommppaannyy aarree:: rreegguullaattiioonnss,, ccoommppeettiittiioonn,, bbuussiinneessss rriisskk ((wwhhiicchh iinncclluuddeess lleeggaallrriisskk,, ppoolliittiiccaall rriisskk,, aanndd ffiinnaanncciiaall rriisskk)),, tteecchhnnoollooggyy oobbssoolleesscceennccee,, lloonngg--tteerrmm iinnvveessttmmeennttss aanndd eexxppaannssiioonn ooffffaacciilliittiieess.. AAss aa mmaatttteerr ooff ppoolliiccyy,, tthheessee rriisskkss aarree aasssseesssseedd aanndd sstteeppss aass aapppprroopprriiaattee aarree ttaakkeenn ttoo mmiittiiggaattee tthheessaammee..

CCOORRPPOORRAATTEE GGOOVVEERRNNAANNCCEE::PPrroovviissiioonnss rreellaattiinngg ttoo CCoorrppoorraattee GGoovveerrnnaannccee aass ppeerr SSEEBBII ((LLiissttiinngg OObblliiggaattiioonnss aanndd DDiisscclloossuurreeRReeqquuiirreemmeennttss)) RReegguullaattiioonnss,, 22001155 aarree nnoott aapppplliiccaabbllee ttoo tthhee ccoommppaannyy ffoorr tthhee yyeeaarr uunnddeerr rreevviieeww.. FFuurrtthheerr,,CCeerrttiiffiiccaattee rreeggaarrddiinngg nnoonn--aapppplliiccaabbiilliittyy ooff CCoorrppoorraattee GGoovveerrnnaannccee rreeqquuiirreemmeennttss ffrroomm MM//ss AAnnkkiittaa SShhaahh &&AAssssoocciiaatteess,, SSeeccrreettaarriiaall AAuuddiittoorr ooff tthhee ccoommppaannyy iiss aannnneexxeedd ttoo tthhiiss rreeppoorrtt aass aanndd ffoorrmmss ppaarrtt ooff tthhiiss rreeppoorrtt..

IINNFFOORRMMAATTIIOONN RREEQQUUIIRREEDD UUNNDDEERR SSEEXXUUAALL HHAARRRRAASSMMEENNTT OOFF WWOOMMEENN AATT WWOORRKKPPLLAACCEE ((PPRREEVVEENNTTIIOONN,,PPRROOHHIIBBIITTIIOONN && RREEDDRREESSSSAALL)) AACCTT,, 22001133..DDuurriinngg tthhee yyeeaarr uunnddeerr rreevviieeww,, tthheerree wweerree nnoo ccaasseess ffiilllleedd ppuurrssuuaanntt ttoo SSeexxuuaall HHaarraassssmmeenntt ooff WWoommeenn aattWWoorrkk ppllaaccee ((PPrreevveennttiioonn,, PPrroohhiibbiittiioonn && RReeddrreessssaall)) AAcctt,, 22001133..

EEXXTTRRAACCTT OOFF AANNNNUUAALL RREETTUURRNN::PPuurrssuuaanntt ttoo SSeeccttiioonn 9922((33)) aanndd SSeeccttiioonn 113344((33))((aa)) ooff tthhee CCoommppaanniieess AAcctt,, 22001133,, eexxttrraacctt ooff tthhee AAnnnnuuaall RReettuurrnnaass oonn MMaarrcchh 3311,, 22001188 iinn ffoorrmm MMGGTT--99 iiss eenncclloosseedd aass AAnnnneexxuurree -- DD ttoo tthhiiss rreeppoorrtt.. IInn ccoommpplliiaannccee ttoo tthheepprroovviissiioonnss ooff SSeeccttiioonn 3366 ooff tthhee CCoommppaanniieess ((AAmmeennddmmeenntt)) AAcctt,, 22001177,, eexxttrraacctt ooff aannnnuuaall rreettuurrnn hhaass bbeeeenn



ppllaacceedd oonn tthhee wweebbssiittee ooff tthhee ccoommppaannyy aanndd iiss aavvaaiillaabbllee aatthhttttppss::////wwwwww..iinntteeggrraatteeddpprrootteeiinnss..ccoomm//eexxttrraacctt__22001177--1188..ppddff..

DDIIRREECCTTOORR’’SS RREESSPPOONNSSIIBBIILLIITTYY SSTTAATTEEMMEENNTT::PPuurrssuuaanntt ttoo tthhee pprroovviissiioonnss ooff SSeeccttiioonn 113344((55)) ooff tthhee CCoommppaanniieess AAcctt,, 22001133,, yyoouurr DDiirreeccttoorrss hheerreebbyy ccoonnffiirrmmtthhaatt::aa.. iinn tthhee pprreeppaarraattiioonn ooff tthhee aannnnuuaall aaccccoouunnttss,, tthhee aapppplliiccaabbllee aaccccoouunnttiinngg ssttaannddaarrddss hhaavvee bbeeeennffoolllloowweedd aalloonngg wwiitthh pprrooppeerr eexxppllaannaattiioonn rreellaattiinngg ttoo mmaatteerriiaall ddeeppaarrttuurreess;;

bb.. tthhee DDiirreeccttoorrss hhaavvee sseelleecctteedd ssuucchh aaccccoouunnttiinngg ppoolliicciieess aanndd aapppplliieedd tthheemm ccoonnssiisstteennttllyy aanndd mmaaddeejjuuddggmmeennttss aanndd eessttiimmaatteess tthhaatt aarree rreeaassoonnaabbllee aanndd pprruuddeenntt ssoo aass ttoo ggiivvee aa ttrruuee aanndd ffaaiirr vviieeww ooff tthheessttaattee ooff aaffffaaiirrss ooff tthhee CCoommppaannyy aatt tthhee eenndd ooff tthhee ffiinnaanncciiaall yyeeaarr aanndd ooff tthhee pprrooffiitt aanndd lloossss ooff tthheeCCoommppaannyy ffoorr tthhaatt ppeerriioodd;;

cc.. tthhee DDiirreeccttoorrss hhaavvee ttaakkeenn pprrooppeerr aanndd ssuuffffiicciieenntt ccaarree ffoorr tthhee mmaaiinntteennaannccee ooff aaddeeqquuaattee aaccccoouunnttiinnggrreeccoorrddss iinn aaccccoorrddaannccee wwiitthh tthhee pprroovviissiioonnss ooff tthhee CCoommppaanniieess AAcctt,, 22001133 ffoorr ssaaffeegguuaarrddiinngg tthhee aasssseettssooff tthhee CCoommppaannyy aanndd ffoorr pprreevveennttiinngg aanndd ddeetteeccttiinngg ffrraauudd aanndd ootthheerr iirrrreegguullaarriittiieess;;

dd.. tthhee DDiirreeccttoorrss hhaavvee pprreeppaarreedd tthhee aannnnuuaall aaccccoouunnttss oonn aa ggooiinngg ccoonncceerrnn bbaassiiss;; aannddee.. tthhee DDiirreeccttoorrss,, hhaavvee llaaiidd ddoowwnn iinntteerrnnaall ffiinnaanncciiaall ccoonnttrroollss ttoo bbee ffoolllloowweedd bbyy tthhee CCoommppaannyy aanndd tthhaattssuucchh iinntteerrnnaall ffiinnaanncciiaall ccoonnttrroollss aarree aaddeeqquuaattee aanndd ooppeerraattiinngg eeffffeeccttiivveellyy;;

ff.. tthhee DDiirreeccttoorrss hhaadd ddeevviisseedd pprrooppeerr ssyysstteemmss ttoo eennssuurree ccoommpplliiaannccee wwiitthh tthhee pprroovviissiioonnss ooff aallllaapppplliiccaabbllee llaawwss aanndd ssuucchh ssyysstteemmss aanndd pprroocceesssseess aarree ooppeerraattiinngg eeffffeeccttiivveellyy..

RREELLAATTEEDD PPAARRTTYY TTRRAANNSSAACCTTIIOONNSS::TThheerree aarree nnoo ssuucchh ccoonnttrraaccttss oorr aarrrraannggeemmeennttss wwiitthh rreellaatteedd ppaarrttiieess wwhhiicchh rreeqquuiirreess ddiisscclloossuurree uunnddeerrSSeeccttiioonn 118888((11)) aanndd aapppplliiccaabbllee rruulleess ooff tthhee CCoommppaanniieess AAcctt,, 22001133

..PPAARRTTIICCUULLAARRSS OOFF EEMMPPLLOOYYEEEESS::TThheerree aarree nnoo eemmppllooyyeeeess iinn tthhee ccoommppaannyy ddrraawwiinngg rreemmuunneerraattiioonn ooff `̀110022 llaakkhhss ppeerr aannnnuumm oorr mmoorree,, aannddeemmppllooyyeeeess eemmppllooyyeedd ffoorr ppaarrtt ooff tthhee yyeeaarr aanndd iinn rreecceeiipptt ooff `̀88..5500 llaakkhhss oorr mmoorree ppeerr mmoonntthh,, aass pprreessccrriibbeedd iinnRRuullee 55((22)) tthhee CCoommppaanniieess ((AAppppooiinnttmmeenntt aanndd RReemmuunneerraattiioonn ooff MMaannaaggeerriiaall PPeerrssoonnnneell)) RRuulleess,, 22001144..

IINNTTEERRNNAALL FFIINNAANNCCIIAALL CCOONNTTRROOLL AANNDD IITTSS AADDEEQQUUAACCYYTThhee BBooaarrdd ooff yyoouurr CCoommppaannyy hhaass llaaiidd ddoowwnn iinntteerrnnaall ffiinnaanncciiaall ccoonnttrroollss ttoo bbee ffoolllloowweedd bbyy tthhee CCoommppaannyy aannddtthhaatt ssuucchh iinntteerrnnaall ffiinnaanncciiaall ccoonnttrroollss aarree aaddeeqquuaattee aanndd ooppeerraattiinngg eeffffeeccttiivveellyy.. YYoouurr CCoommppaannyy hhaass aaddoopptteeddppoolliicciieess aanndd pprroocceedduurreess ffoorr eennssuurriinngg tthhee oorrddeerrllyy aanndd eeffffiicciieenntt ccoonndduucctt ooff iittss bbuussiinneessss,, iinncclluuddiinngg aaddhheerreenncceettoo tthhee CCoommppaannyy’’ss ppoolliicciieess,, tthhee ssaaffeegguuaarrddiinngg ooff iittss aasssseettss,, tthhee pprreevveennttiioonn aanndd ddeetteeccttiioonn ooff ffrraauuddss aannddeerrrroorrss,, tthhee aaccccuurraaccyy aanndd ccoommpplleetteenneessss ooff tthhee aaccccoouunnttiinngg rreeccoorrddss,, aanndd tthhee ttiimmeellyy pprreeppaarraattiioonn ooff rreelliiaabblleeffiinnaanncciiaall ddiisscclloossuurreess..

TThhee CCoommppaannyy hhaass aappppooiinntteedd CCAA HHiitteesshh CChhaauuhhaann,, PPrroopprriieettoorr ooff MM//ss HHiitteesshh CChhaauuhhaann aanndd CCoo,, JJaammnnaaggaarr[[FFRRNN:: 112288995533WW]] aass tthhee IInntteerrnnaall AAuuddiittoorr ooff tthhee CCoommppaannyy ttoo cchheecckk tthhee aaddeeqquuaaccyy ooff iinntteerrnnaall ffiinnaanncciiaallccoonnttrroollss..

SSTTAATTUUTTOORRYY AAUUDDIITTOORR::

TThhee CCoommppaannyy aappppooiinntteedd MM//ss DD.. SS.. VVaarriiaa aanndd CCoo..,, CChhaarrtteerreedd AAccccoouunnttaannttss,, JJaammnnaaggaarr,, aatt tthhee 2244tthh AAnnnnuuaallGGeenneerraall MMeeeettiinngg ttoo hhoolldd ooffffiiccee ttiillll tthhee ccoonncclluussiioonn ooff nneexxtt AAnnnnuuaall GGeenneerraall MMeeeettiinngg.. DDuuee ttoo pprree--ooccccuuppaannccyyooff DDiippaakk SS.. VVaarriiaa iinnttoo ootthheerr mmaatttteerrss,, hhee rreessiiggnneedd aass tthhee SSttaattuuttoorryy AAuuddiittoorrss ooff tthhee CCoommppaannyy ffoorr tthheeffiinnaanncciiaall yyeeaarr 22001177--1188..

AAfftteerr ccoonndduuccttiinngg aa ddeettaaiilleedd eevvaalluuaattiioonn aanndd bbaasseedd oonn tthhee rreeccoommmmeennddaattiioonn ooff AAuuddiitt CCoommmmiitttteeee,, tthhee BBooaarrddaapppprroovveedd tthhee pprrooppoossaall ffoorr aappppooiinnttmmeenntt ooff MM//ss DDoosshhii -- MMaarruu aanndd AAssssoocciiaatteess,, CChhaarrtteerreedd AAccccoouunnttaannttss ((IICCAAII



FFRRNN:: 00111122118877WW)) aass ssttaattuuttoorryy aauuddiittoorrss ooff tthhee CCoommppaannyy ffoorr tthhee ffiinnaanncciiaall yyeeaarr 22001177--1188 oonnwwaarrddss oonn ssuucchhtteerrmmss aanndd ccoonnddiittiioonnss aanndd rreemmuunneerraattiioonn aass mmaayy bbee ddeecciiddeedd bbyy tthhee AAuuddiitt CCoommmmiitttteeee.. TThhee ssaaiiddaappppooiinnttmmeenntt wwaass aapppprroovveedd bbyy tthhee mmeemmbbeerrss ooff tthhee CCoommppaannyy aatt tthhee EExxttrraa--oorrddiinnaarryy GGeenneerraall MMeeeettiinngg hheellddoonn 44tthh JJaannuuaarryy,, 22001188..

IInn ppuurrssuuaannccee ttoo pprroovviissiioonnss ooff SSeeccttiioonn 113399 ooff tthhee CCoommppaanniieess AAcctt,, 22001133 aanndd aallll ootthheerr aapppplliiccaabbllee pprroovviissiioonnss oofftthhee CCoommppaanniieess AAcctt,, 22001133 ((tthhee ““AAcctt””)) rreeaadd wwiitthh tthhee CCoommppaanniieess ((AAuuddiitt aanndd AAuuddiittoorrss)) RRuulleess,, 22001144 ,, tthhee BBooaarrddrreeccoommmmeennddss tthhee aappppooiinnttmmeenntt ooff DDoosshhii -- MMaarruu aanndd AAssssoocciiaatteess,, aass SSttaattuuttoorryy AAuuddiittoorrss iinn tthhee eennssuuiinnggAAnnnnuuaall GGeenneerraall MMeeeettiinngg..

AAUUDDIITTOORRSS’’ RREEPPOORRTTTThheerree aarree nnoo qquuaalliiffiiccaattiioonnss,, rreesseerrvvaattiioonnss oorr aaddvveerrssee rreemmaarrkkss mmaaddee bbyy MM//ss DDoosshhii -- MMaarruu aanndd AAssssoocciiaatteess,,SSttaattuuttoorryy AAuuddiittoorrss,, iinn tthheeiirr rreeppoorrtt ffoorr tthhee ffiinnaanncciiaall yyeeaarr eennddeedd MMaarrcchh 3311,, 22001188.. TThhee aauuddiittoorrss rreeppoorrtt iissaattttaacchheedd hheerreewwiitthh aanndd ffoorrmmss ppaarrtt ooff ffiinnaanncciiaall ssttaatteemmeennttss..

PPuurrssuuaanntt ttoo pprroovviissiioonnss ooff SSeeccttiioonn 114433((1122)) ooff tthhee CCoommppaanniieess AAcctt,, 22001133,, tthhee SSttaattuuttoorryy AAuuddiittoorrss hhaavvee nnoottrreeppoorrtteedd aannyy iinncciiddeenntt ooff ffrraauudd ttoo tthhee AAuuddiitt CCoommmmiitttteeee dduurriinngg tthhee yyeeaarr uunnddeerr rreevviieeww..

SSEECCRREETTAARRIIAALL AAUUDDIITTOORR::PPuurrssuuaanntt ttoo tthhee pprroovviissiioonnss ooff SSeeccttiioonn 220044 ooff tthhee CCoommppaanniieess AAcctt,, 22001133 aanndd tthhee CCoommppaanniieess ((AAppppooiinnttmmeennttaanndd RReemmuunneerraattiioonn ooff MMaannaaggeerriiaall PPeerrssoonnnneell)) RRuulleess,, 22001144,, tthhee CCoommppaannyy hhaass aappppooiinntteedd MMss.. AAnnkkiittaa SShhaahh,, ooffMM//ss AAnnkkiittaa SShhaahh && AAssssoocciiaatteess,, aa ffiirrmm ooff CCoommppaannyy SSeeccrreettaarriieess iinn PPrraaccttiiccee,, ttoo ccoonndduucctt SSeeccrreettaarriiaall AAuuddiitt oofftthhee CCoommppaannyy ffoorr tthhee FFYY 22001177--1188.. TThhee RReeppoorrtt ooff tthhee SSeeccrreettaarriiaall AAuuddiitt iinn FFoorrmm MMRR--33 ffoorr tthhee ffiinnaanncciiaall yyeeaarreennddeedd MMaarrcchh 3311,, 22001188 iiss aattttaacchheedd ttoo tthhiiss RReeppoorrtt.. TThheerree aarree nnoo qquuaalliiffiiccaattiioonnss,, rreesseerrvvaattiioonnss oorr aaddvveerrsseerreemmaarrkkss mmaaddee bbyy tthhee SSeeccrreettaarriiaall AAuuddiittoorr iinn hheerr rreeppoorrtt eexxcceepptt nnoonn--aappppooiinnttmmeenntt ooff IInnddeeppeennddeenntt DDiirreeccttoorr,,nnoonn--hhoollddiinngg ooff sshhaarreess iinn ddeemmaatteerriiaalliizzeedd ffoorrmm bbyy oonnee ooff tthhee mmeemmbbeerr ooff PPrroommootteerr GGrroouupp aanndd nnoonnccoommpplliiaannccee ooff pprroovviissiioonnss ooff SSEEBBII LLOODDRR 22001155,, rreellaatteedd ttoo aaddvveerrttiisseemmeenntt ooff nnoottiiccee ooff AAGGMM..

IInn rreeppllyy ttoo tthhee qquuaalliiffiiccaattiioonn rreeggaarrddiinngg aappppooiinnttmmeenntt ooff IInnddeeppeennddeenntt DDiirreeccttoorr,, tthhee BBooaarrdd wwoouulldd lliikkee ttooiinnffoorrmm yyoouu tthhaatt tthhee CCoommppaannyy hhaass cchhaannggeedd tthhee CCoommppoossiittiioonn ooff BBooaarrdd iinn ffoolllloowwiinngg mmaannnneerr::

11.. MMrr.. VV.. PP.. MMeehhttaa -- NNoonn -- EExxeeccuuttiivvee CChhaaiirrmmaann22.. MMrr.. AArrvviinndd KK.. SShhaahh -- MMaannaaggiinngg DDiirreeccttoorr

PPuurrssuuaanntt ttoo RReegguullaattiioonn 1177 ooff SSEEBBII ((LLOODDRR)) 22001155,, iiff tthhee CChhaaiirrmmaann ooff tthhee bbooaarrdd iiss nnoonn eexxeeccuuttiivvee cchhaaiirrmmaann,, tthheenn11//33rrdd ooff tthhee ttoottaall bbooaarrdd sshhaallll ccoommpprriissee ooff IInnddeeppeennddeenntt DDiirreeccttoorr.. AAss tthhee CChhaaiirrmmaann iiss nnoonn –– eexxeeccuuttiivvee cchhaaiirrmmaann,,ccoommppaannyy rreeqquuiirreess oonnllyy ttwwoo ((22)) IInnddeeppeennddeenntt DDiirreeccttoorrss aanndd ccoommppaannyy hhaass ttwwoo iinnddeeppeennddeenntt ddiirreeccttoorrss oonn BBooaarrddaanndd nnoo ffuurrtthheerr aappppooiinnttmmeenntt ooff IInnddeeppeennddeenntt DDiirreeccttoorrss iiss rreeqquuiirreedd..

IInn rreeppllyy ttoo tthhee sseeccoonndd qquuaalliiffiiccaattiioonn rreeggaarrddiinngg hhoollddiinngg ooff sshhaarreess iinn pphhyyssiiccaall ffoorrmm bbyy MMrrss.. PPuurrnniimmaa VVoorraa,,bbeelloonnggiinngg ttoo PPrroommootteerr GGrroouupp,, tthhee BBooaarrdd wwoouulldd lliikkee ttoo iinnffoorrmm tthhaatt tthhee ccoommppaannyy hhaass iinniittiiaatteedd tthhee pprroocceessss ooffccoonnvveerrssiioonn ooff sshhaarreess iinnttoo ddeemmaatteerriiaalliizzeedd ffoorrmm..

IInn rreeppllyy ttoo tthhiirrdd qquuaalliiffiiccaattiioonn rreeggaarrddiinngg nneewwssppaappeerr aaddvveerrttiisseemmeenntt,, tthhee ccoommppaannyy wwoouulldd lliikkee ttoo ccllaarriiffyy tthhaattccoommppaannyy wwaass uunnaabbllee ttoo bbeeaarr tthhee eexxppeennsseess ooff aaddvveerrttiisseemmeenntt bbuutt aass aa ggoooodd ggoovveerrnnaannccee pprraaccttiiccee wwee hhaavveeccoommpplliieedd wwiitthh tthhiiss rreegguullaattiioonn ffoorr tthhiiss yyeeaarr..

CCOORRPPOORRAATTEE SSOOCCIIAALL RREESSPPOONNSSIIBBIILLIITTYY::IInn tteerrmmss ooff SSeeccttiioonn 113355 ooff tthhee CCoommppaanniieess AAcctt,, 22001133 rreeaadd wwiitthh tthhee CCoommppaanniieess ((CCoorrppoorraattee SSoocciiaallRReessppoonnssiibbiilliittyy)) RRuulleess,, 22001144,, eevveerryy ccoommppaannyy hhaavviinngg nneett wwoorrtthh ooff RRss.. 550000 CCrroorreess oorr mmoorree OORR aann aannnnuuaallttuurrnnoovveerr ooff RRSS.. 11,,000000 CCrroorreess oorr mmoorree OORR wwiitthh aa nneett pprrooffiitt ooff RRss.. 55 CCrroorreess oorr mmoorree,, iiss rreeqquuiirreedd ttoo ccoonnssttiittuuttee



aa CCSSRR CCoommmmiitttteeee.. YYoouurr CCoommppaannyy ddooeess nnoott ffaallll iinn aannyy aabboovvee ccrriitteerriiaa dduurriinngg tthhee yyeeaarr 22001177--1188 aanndd tthheerreeffoorree,,iitt iiss nnoott rreeqquuiirreedd mmaannddaattoorriillyy ttoo ccaarrrryy oouutt CCSSRR aaccttiivviittiieess oorr ttoo ccoonnssttiittuuttee CCSSRR CCoommmmiitttteeee uunnddeerr pprroovviissiioonnssooff SSeeccttiioonn 113355 ooff tthhee CCoommppaanniieess AAcctt,, 22001133..

CCOONNSSEERRVVAATTIIOONN OOFF EENNEERRGGYY,, TTEECCHHNNOOLLOOGGIICCAALL AABBSSOORRPPTTIIOONN,, FFOORREEIIGGNN EEXXCCHHAANNGGEE EEAARRNNIINNGGSS AANNDD OOUUTT--GGOO::TThhee CCoommppaannyy hhaass nnoott ttaakkeenn aannyy ssiiggnniiffiiccaanntt sstteepp ffoorr ccoonnsseerrvvaattiioonn ooff eenneerrggyy dduurriinngg tthhee yyeeaarr uunnddeerr RReeppoorrtt..HHoowweevveerr,, tthhee BBooaarrdd iiss kkeeeenn ttoo ddeevveelloopp aa ssyysstteemm ffoorr ccoonnsseerrvvaattiioonn ooff eenneerrggyy oonn ccoonnttiinnuuoouuss bbaassee.. FFuurrtthheerr,,dduurriinngg tthhee yyeeaarr uunnddeerr rreevviieeww,, tthheerree wwaass nnoo ffoorreeiiggnn eeaarrnniinngg oorr eexxppeennddiittuurree iinn tthhee CCoommppaannyy.. TThheerree aarree nnoossiiggnniiffiiccaanntt eexxppeennsseess oonn tteecchhnnoollooggyy aabbssoorrppttiioonn dduurriinngg tthhee yyeeaarr uunnddeerr rreeppoorrtt..

MMAATTEERRIIAALL CCHHAANNGGEESS AANNDD CCOOMMMMIITTMMEENNTTSS AAFFFFEECCTTIINNGG TTHHEE FFIINNAANNCCIIAALL PPOOSSIITTIIOONN OOFF TTHHEE CCOOMMPPAANNYY::TThheerree hhaavvee bbeeeenn nnoo mmaatteerriiaall cchhaannggeess aanndd ccoommmmiittmmeennttss,, aaffffeeccttiinngg tthhee ffiinnaanncciiaall ppoossiittiioonn ooff tthhee CCoommppaannyywwhhiicchh ooccccuurrrreedd bbeettwweeeenn tthhee eenndd ooff tthhee ffiinnaanncciiaall yyeeaarr ttoo wwhhiicchh tthhee ffiinnaanncciiaall ssttaatteemmeennttss rreellaattee aanndd tthheeddaattee ooff tthhiiss rreeppoorrtt..

DDeettaaiillss ooff SSiiggnniiffiiccaanntt aanndd MMaatteerriiaall OOrrddeerrss PPaasssseedd bbyy tthhee rreegguullaattoorrss//CCoouurrttss//TTrriibbuunnaallss IImmppaaccttiinngg tthheeGGooiinngg CCoonncceerrnn SSttaattuuss aanndd tthhee CCoommppaannyy’’ss OOppeerraattiioonnss iinn FFuuttuurree::TThheerree aarree nnoo ssiiggnniiffiiccaanntt aanndd mmaatteerriiaall oorrddeerrss ppaasssseedd bbyy tthhee RReegguullaattoorrss//CCoouurrttss//TTrriibbuunnaallss wwhhiicchh wwoouullddiimmppaacctt tthhee ggooiinngg ccoonncceerrnn ssttaattuuss ooff tthhee CCoommppaannyy aanndd iittss ffuuttuurree ooppeerraattiioonnss..

OOTTHHEERR DDIISSCCLLOOSSUURREESS::11.. TThheerree hhaass bbeeeenn nnoo iinnssttaannccee ooff aannyy rreevviissiioonn iinn tthhee BBooaarrdd’’ss RReeppoorrtt oorr tthhee ffiinnaanncciiaall ssttaatteemmeenntt,, hheenncceeddiisscclloossuurree uunnddeerr SSeeccttiioonn 113311((11)) ooff tthhee AAcctt..

22.. TThhee CCoommppaannyy hhaass nnoott iissssuueedd aannyy sshhaarreess ttoo aannyy eemmppllooyyeeee,, uunnddeerr aannyy ssppeecciiffiicc sscchheemmee,, aanndd hheennccee,,ddiisscclloossuurreess uunnddeerr SSeeccttiioonn 6677((33)) aarree nnoott rreeqquuiirreedd ttoo bbee mmaaddee..

33.. TThhee ccoommppaannyy ddooeess nnoott ppaayy aannyy rreemmuunneerraattiioonn ttoo aannyy ooff iittss ddiirreeccttoorrss,, aanndd hheennccee ddiisscclloossuurree ooff rraattiiooooff rreemmuunneerraattiioonn ooff eeaacchh ddiirreeccttoorr uunnddeerr sseeccttiioonn 119977((1122)) iiss nnoott rreeqquuiirreedd ttoo bbee mmaaddee..

44.. TThhee CCoommppaannyy hhaass nnoott ppaaiidd aannyy ccoommmmiissssiioonn ttoo aannyy ooff iittss DDiirreeccttoorrss aanndd hheennccee,, pprroovviissiioonn ooffddiisscclloossuurree ooff ccoommmmiissssiioonn ppaaiidd ttoo aannyy DDiirreeccttoorr aass mmeennttiioonneedd iinn SSeeccttiioonn 119977((1144)) iiss nnoott aapppplliiccaabbllee..

55.. TThhee CCoommppaannyy hhaass nnoott iissssuueedd ((aa)) aannyy sshhaarree wwiitthh ddiiffffeerreennttiiaall vvoottiinngg rriigghhttss ((bb)) sswweeaatt eeqquuiittyy sshhaarreess((cc)) sshhaarreess uunnddeerr aannyy EEmmppllooyyeeee SSttoocckk OOppttiioonn SScchheemmee,, aanndd hheennccee nnoo ddiisscclloossuurreess aarree rreeqquuiirreedd ttoo bbeemmaaddee aass ppeerr tthhee CCoommppaanniieess ((SShhaarree CCaappiittaall aanndd DDeebbeennttuurreess)) RRuulleess,, 22001144

66.. TThhee CCeennttrraall GGoovveerrnnmmeenntt hhaass nnoott pprreessccrriibbeedd tthhee mmaaiinntteennaannccee ooff ccoosstt rreeccoorrddss bbyy tthhee CCoommppaannyyuunnddeerr SSeeccttiioonn 114488 ((11)) ooff tthhee CCoommppaanniieess AAcctt,, 22001133 ffoorr aannyy ooff iittss pprroodduuccttss..

AACCKKNNOOWWLLEEDDGGEEMMEENNTT AANNDD AAPPPPRREECCIIAATTIIOONN::YYoouurr DDiirreeccttoorrss ttaakkee tthhiiss ooppppoorrttuunniittyy ttoo tthhaannkk tthhee ccuussttoommeerrss,, sshhaarreehhoollddeerrss,, ssuupppplliieerrss,, bbaannkkeerrss,, ffiinnaanncciiaalliinnssttiittuuttiioonnss aanndd CCeennttrraall aanndd SSttaattee GGoovveerrnnmmeennttss ffoorr tthheeiirr ccoonnssiisstteenntt ssuuppppoorrtt aanndd eennccoouurraaggeemmeenntt ttoo tthheeCCoommppaannyy..

FFoorr && oonn BBeehhaallff ooff tthhee BBooaarrdd ooff DDiirreeccttoorrssDDaattee :: 2299//0088//22001188 IInntteeggrraatteedd PPrrootteeiinnss LLiimmiitteeddPPllaaccee :: JJaammnnaaggaarr

((AArrvviinnddbbhhaaii KK.. SShhaahh)) ((PPiiyyuusshh CC.. VVoorraa))MMaannaaggiinngg DDiirreeccttoorr DDiirreeccttoorr&& CCFFOO[[DDIINN:: 00009944664477]] [[ DDIINN:: 0000229966007744]]



AANNNNEEXXUURREE –– AAAAss oonn 3311sstt MMaarrcchh,, 22001188,, CCoommppoossiittiioonn ooff BBooaarrdd ooff DDiirreeccttoorrss wwaass aass ffoolllloowwss::

SSrrNNoo..

NNaammee DDeessiiggnnaattiioonn CCaatteeggoorryy

DDiirreeccttoorrIIddeennttiiffiiccaattiioonnNNuummbbeerr((DDIINN))

DDaattee ooffAAppppooiinnttmmeenntt

11 AArrvviinnddbbhhaaii KKaannttiillaall SShhaahhCChhaaiirrmmaann &&MMaannaaggiinnggDDiirreeccttoorr

EExxeeccuuttiivvee 0000009944664477 1144//1100//11999922

22 PPiiyyuusshh CChhiimmaannllaall VVoorraa DDiirreeccttoorr EExxeeccuuttiivvee 0000229966007744 1144//1100//11999922

33 VViinnoodd PPrraabbhhuullaall MMeehhttaa DDiirreeccttoorrNNoonn EExxeeccuuttiivvee&& NNoonnIInnddeeppeennddeenntt

0000009944771188 2299//0044//11999933

44 BBhhaallcchhaannddrraa HHiirraallaall VVyyaass DDiirreeccttoorr NNoonn EExxeeccuuttiivvee&& IInnddeeppeennddeenntt 0011447788337755 2200//0088//22001144

55 VViijjaayykkuummaarr SShhaammjjiibbhhaaiiDDaattttaannii DDiirreeccttoorr NNoonn EExxeeccuuttiivvee

&& IInnddeeppeennddeenntt 0066991133999999 2200//0088//22001144

66 NNeeeeppaa PPrraaffuull KKootthhaarrii WWoommaannDDiirreeccttoorr

NNoonn EExxeeccuuttiivvee&& NNoonnIInnddeeppeennddeenntt&&WWoommaannDDiirreeccttoorr

0022446611558888 2200//0088//22001155

CCOOMMMMIITTTTEEEESS OOFF BBOOAARRDD OOFF DDIIRREECCTTOORRSS::

11.. AAUUDDIITT CCOOMMMMIITTTTEEEE::TThhee AAuuddiitt CCoommmmiitttteeee ooff BBooaarrdd ooff DDiirreeccttoorrss ccoommpprriisseess ooff ffoolllloowwiinngg mmeemmbbeerrss::

SSrrNNoo.. NNaammee SSttaattuuss CCaatteeggoorryy

DDiirreeccttoorrIIddeennttiiffiiccaattiioonnNNuummbbeerr ((DDIINN))

11 BBhhaallcchhaannddrraa HHiirraallaallVVyyaass CChhaaiirrmmaann NNoonn EExxeeccuuttiivvee &&

IInnddeeppeennddeenntt 0011447788337755

22 VViijjaayykkuummaarrSShhaammjjiibbhhaaii DDaattttaannii MMeemmbbeerr NNoonn EExxeeccuuttiivvee &&


33 VViinnoodd PPrraabbhhuullaallMMeehhttaa MMeemmbbeerr NNoonn EExxeeccuuttiivvee &&

NNoonn IInnddeeppeennddeenntt 0000009944771188

DDuurriinngg tthhee yyeeaarr uunnddeerr rreeppoorrtt,, aallll tthhee rreeccoommmmeennddaattiioonnss ooff tthhee AAuuddiitt CCoommmmiitttteeee wweerree dduullyy ccoonnssiiddeerreedd..



22.. NNOOMMIINNAATTIIOONN AANNDD RREEMMUUNNEERRAATTIIOONN CCOOMMMMIITTTTEEEE::TThhee NNoommiinnaattiioonn aanndd RReemmuunneerraattiioonn CCoommmmiitttteeee ooff BBooaarrdd ooff DDiirreeccttoorrss ccoommpprriisseess ooff ffoolllloowwiinngg mmeemmbbeerrss::

SSrrNNoo..

NNaammee SSttaattuuss CCaatteeggoorryyDDiirreeccttoorrIIddeennttiiffiiccaattiioonnNNuummbbeerr ((DDIINN))





33 VViinnoodd PPrraabbhhuullaallMMeehhttaa MMeemmbbeerr

NNoonn EExxeeccuuttiivvee&&NNoonnIInnddeeppeennddeenntt

0000009944771188

33.. SSHHAARREEHHOOLLDDEERRSS GGRRIIEEVVAANNCCEE CCOOMMMMIITTTTEEEE::TThhee SShhaarreehhoollddeerrss ggrriieevvaannccee CCoommmmiitttteeee ooff BBooaarrdd ooff DDiirreeccttoorrss ccoommpprriisseess ooff ffoolllloowwiinngg mmeemmbbeerrss::

SSrrNNoo..

NNaammee SSttaattuuss CCaatteeggoorryyDDiirreeccttoorrIIddeennttiiffiiccaattiioonnNNuummbbeerr ((DDIINN))





33 VViinnoodd PPrraabbhhuullaallMMeehhttaa MMeemmbbeerr NNoonn EExxeeccuuttiivvee &&

NNoonn IInnddeeppeennddeenntt 0000009944771188


((AArrvviinnddbbhhaaii KK.. SShhaahh)) ((PPiiyyuusshh CC.. VVoorraa))MMaannaaggiinngg DDiirreeccttoorr DDiirreeccttoorr&& CCFFOO

[[DDIINN:: 00009944664477]] [[ DDIINN:: 0000229966007744]]



AANNNNEEXXUURREE –– BBDDeettaaiillss ooff BBooaarrdd MMeeeettiinnggss dduurriinngg tthhee ffiinnaanncciiaall yyeeaarr::

DDuurriinngg tthhee ffiinnaanncciiaall yyeeaarr eennddeedd 3311sstt MMaarrcchh,, 22001188,, sseevveenn mmeeeettiinnggss ooff tthhee BBooaarrdd wweerree hheelldd,, aass ffoolllloowwss::SSrrNNoo

DDaattee BBooaarrdd SSttrreennggtthh NNoo.. ooff DDiirreeccttoorrsspprreesseenntt

11 2255tthh MMaayy,, 22001177 77 7722 66tthh JJuunnee,, 22001177 77 5533 1177tthh JJuullyy,, 22001177 77 7744 1100tthh AAuugguusstt,, 22001177 77 6655 1144tthh DDeecceemmbbeerr,, 22001177 77 6666 2299tthh JJaannuuaarryy,, 22001188 66 5577 2299tthh MMaarrcchh,, 22001188 66 66

NNoottee:: DDuuee ttoo ddeemmiissee ooff MMrr.. CChhaannddrraassiinnhh UUddeesshhii,, IInnddeeppeennddeenntt DDiirreeccttoorr,, oonn 1199tthh JJaannuuaarryy,, 22001188,, BBooaarrddSSttrreennggtthh iiss ooff 66 DDiirreeccttoorrss ffoorr tthhee mmeeeettiinnggss hheelldd oonn 2299tthh JJaannuuaarryy,, 22001188 aanndd 2299tthh MMaarrcchh,, 22001188..

AAtttteennddaannccee aatt BBooaarrdd MMeeeettiinnggss aanndd aatt AAnnnnuuaall GGeenneerraall MMeeeettiinngg ((AAGGMM)) dduurriinngg tthhee ffiinnaanncciiaall yyeeaarr ::

NNaammee ooff DDiirreeccttoorrss NNoo ooff BBooaarrdd MMeeeettiinnggssAAtttteennddeedd

AAtttteennddaannccee aatt llaassttAAGGMM

AArrvviinndd KK.. SShhaahh 77 YYeessPPiiyyuusshh CC.. VVoorraa 77 YYeessVViinnoodd PP.. MMeehhttaa 66 YYeessNNeeeeppaa PP.. KKootthhaarrii 55 NNooCChhaannddrraassiinnhh CC.. UUddeesshhii 33 NNooBBhhaallcchhaannddrraa HH.. VVyyaass 77 YYeessVViijjaayykkuummaarr SS.. DDaattttaannii 66 YYeess

DDeettaaiillss ooff CCoommmmiitttteeee MMeeeettiinnggss dduurriinngg tthhee ffiinnaanncciiaall yyeeaarr::

DDuurriinngg tthhee ffiinnaanncciiaall yyeeaarr eennddeedd 3311sstt MMaarrcchh,, 22001188,, ssiixx mmeeeettiinnggss ooff tthhee AAuuddiitt CCoommmmiitttteeee wweerree hheelldd,, aassffoolllloowwss::

SSrrNNoo

DDaattee MMeemmbbeerrss SSttrreennggtthh NNoo.. ooff MMeemmbbeerrsspprreesseenntt

11 2255tthh MMaayy,, 22001177 33 3322 66tthh JJuunnee,, 22001177 33 3333 1100tthh AAuugguusstt,, 22001177 33 2244 1144tthh DDeecceemmbbeerr,, 22001177 33 2255 2299tthh JJaannuuaarryy,, 22001188 33 3366 2299tthh MMaarrcchh,, 22001188 33 33

AAtttteennddaannccee aatt AAuuddiitt CCoommmmiitttteeee MMeeeettiinnggss dduurriinngg tthhee ffiinnaanncciiaall yyeeaarr::NNaammee ooff DDiirreeccttoorrss NNoo ooff CCoommmmiitttteeee MMeeeettiinnggss AAtttteennddeeddBBhhaallcchhaannddrraa HH.. VVyyaass 66VViinnoodd PP.. MMeehhttaa 55VViijjaayykkuummaarr SS.. DDaattttaannii 55



DDuurriinngg tthhee ffiinnaanncciiaall yyeeaarr eennddeedd 3311sstt MMaarrcchh,, 22001188,, oonnee mmeeeettiinngg ooff tthhee NNoommiinnaattiioonn aanndd RReemmuunneerraattiioonnCCoommmmiitttteeee wweerree hheelldd,, aass ffoolllloowwss::

SSrrNNoo

DDaattee MMeemmbbeerrss SSttrreennggtthh NNoo.. ooff MMeemmbbeerrsspprreesseenntt

11 1177tthh JJuullyy,, 22001177 33 33

AAtttteennddaannccee aatt NNoommiinnaattiioonn aanndd RReemmuunneerraattiioonn CCoommmmiitttteeee MMeeeettiinngg dduurriinngg tthhee ffiinnaanncciiaall yyeeaarr::

NNaammee ooff DDiirreeccttoorrss NNoo ooff CCoommmmiitttteeee MMeeeettiinnggss AAtttteennddeeddBBhhaallcchhaannddrraa HH.. VVyyaass 11VViinnoodd PP.. MMeehhttaa 11VViijjaayykkuummaarr SS.. DDaattttaannii 11



[[DDIINN:: 00009944664477]] [[ DDIINN:: 0000229966007744]]


ANNEXURE - C

INTRODUCTION

In pursuance of Section 178 of the Companies Act, 2013, the POLICY FOR BOARD NOMINATION &REMUNERATION was adopted by the Board of Directors (the “Board”) of Integrated Proteins Limited(the “Company”) with effect from 29th May, 2014

This policy is intended as a component of the flexible governance framework within which the Board,assisted by its committees, directs the affairs of the Company. While it should be interpreted in the contextof all applicable laws, regulations and listing requirements, as well as in the context of the Company’sAmendedandRestatedCertificateofIncorporation andAmendedandRestatedBylaws, it is not intended toestablish by its own force any legally binding obligations.

PURPOSE

The Nomination & Remuneration Committee (the “Committee”) shall carry out the responsibilitiesdelegated by the Board relating to the Company’s director nominations process and procedures and anyrelated matters required by the laws, including:(i) identifying, screening and reviewing individuals qualified to serve as directors and recommending

to the Board candidates for nomination for election at the annual meeting of stockholders or to fillBoard vacancies;

(ii) overseeing the Company’s policies and procedures for the receipt of stockholder suggestionsregarding Boardcomposition andrecommendations ofcandidates ornominations bytheBoard;

(iii)reviewing and recommending to the Board for approval any changes in the compensation ofdirectors;

(iv)developing, recommending to the Board and overseeing implementation of the Company’scorporate governance principles; and

(v) reviewing on a regular basis the overall corporate governance of the Company and recommendingimprovements when necessary.

In discharging its role, the Committee is empowered to inquire into any matter it considers appropriateto carry out its responsibilities, with access to all books, records, facilities and personnel of the Company,and, subject to the direction of the Board, the Committee is authorized and delegated the authority toact on behalf of the Board with respect to any matter necessary or appropriate to the accomplishmentof its purposes. The Committee has the power to retain outside counsel, director search and recruitmentconsultants or other advisors to assist it in carrying out its activities. The Committee shall have the soleauthority to retain, compensate, direct, oversee and terminate counsel, director search and recruitmentconsultants, and other advisors hired toassist the Committee, who shall be accountable ultimately to theCommittee. The Company shall provide adequate resources to support the Committee’s activities,including compensation of the Committee’s counsel, consultants and other advisors.


COMMITTEE MEMBERSHIP

The Committee shall consist of two or more members of the Board, each of whom shall be selected by theBoard and determined to be “independent” in accordance with the listing agreements with StockMarketandamajorityofwhomshallbe“independentdirectors”inaccordancewiththeListing Regulations.

Except as otherwise directed by the Board, a director selected as a Committee member shall continue tobe a member for so long as he or she remains a director or until his or her earlier resignation or removalfrom the Committee. The Board may remove any member from the Committee at any time with orwithout cause. The Chairperson of the Committee shall be appointed from among the Committeemembers by, and serve at the pleasure of, the Board, shall preside at meetings of the Committee andshall have the authority to convene meetings, set agendas for meetings, and determine theCommittee’s information needs, except as otherwise provided by action of the Committee. In theabsence of the Chairperson at a duly convened meeting, the Committee shall select a temporarysubstitute from among its members to serve as chair of the meeting.

COMMITTEE MEETINGS

The Committee shall meetas often as necessary tocarry out its responsibilities.

The Committee shall establish its own schedule of meetings. The Committee may also act byunanimous written consent of its members.

Notice of meetings shall be given to all Committee members or may be waived, in the samemanner as required for meetings of the Board. Meetings of the Committee may be held bymeans of conference telephone or other communications equipment by means of which allpersons participating in the meeting can hear and speak with each other.

A majority of the members of the Committee shall constitute a quorum for a meeting and theaffirmative vote of a majority of members present at a meeting at which a quorum is present shallconstitute the action of the Committee. The Committee shall otherwise establish its own rules ofprocedure.

IDENTIFYING AND EVALUATING DIRECTOR NOMINEES

The Nominating and Corporate Governance Committee (the “Nominating Committee”) is responsible foridentifying individuals qualified to become members of the Board and its committees, andrecommending candidates for the Board’s selection as director nominees for election at the next annualor other properly convened meeting of securityholders.

The process for identifying and evaluating nominees for the Board, including nominees recommended bysecurity holders, is as follows:

The Nominating Committee may solicit recommendations from any or all of the following sources:non‐management directors, the Chairman of the Board, the Chief Executive Officer, other executive


officers,third‐party searchfirms,oranyothersourceitdeemsappropriate.

1. The Nominating Committee will review and evaluate the qualifications of any such proposeddirector candidate, and conduct inquiries it deems appropriate.

2. The Nominating Committee will evaluate all such proposed director candidates in the samemanner, with no regard to the source of the initial recommendation of such proposed directorcandidate.

3. The Nominating Committee will consider for nomination any such proposed director candidatewho is deemed qualified by the Nominating Committee in light of the minimum qualificationsand other criteria for Board membership approved by the Board from time to time and set forth inthis Policy.

4. In identifying and evaluating proposed director candidates, the Nominating Committee mayconsider, in addition to the minimum qualifications and other criteria for Board membershipapproved by the Board from time to time, all facts and circumstances that it deems appropriateor advisable, including, among other things, the skills of the proposed director candidate, his orher depth and breadth of business experience or other background characteristics, his or herindependence and the needs of the Board.

COMMITTEE RESPONSIBILITIES AND AUTHORITY

The following responsibilities are set forth as a guide for fulfilling the Committee’s purposes, with theunderstanding that the Committee’s activities may diverge from those described below as appropriateunder the circumstances. The Committee is authorized to carry out these activities and other actionsreasonably related to the Committee’s purposes or assigned by the Board from time to time.

InsuchmannerastheCommitteedeterminesisappropriatetofulfillitspurposes,theCommittee shall:

1. Recommend to the Board for approval, oversee the implementation and effectiveness of,recommend modifications as appropriate to, and review Company disclosures concerning ‐3‐ theCompany’s policies and procedures for identifying and reviewing Board nominee candidates,including: (a) the qualifications or criteria for Board nomination to shareholders for election as adirector; and (b) policies and procedures relating to consideration of Board nominee candidatesrecommended by shareholders;

2. Identify, screen and review individuals qualified to serve as directors, consistent withqualifications or criteria approved by the Board (including evaluation of incumbent directors forpotential renomination and evaluation of candidates recommended by shareholders inaccordance with the Company’s policies as set forth in its proxy statement); and recommend to theBoard candidates for:

(i) nomination for election or re‐election by the shareholders; and any Board vacancies that are to befilled by the Board, subject to any rights regarding the selection of directors by holders of preferredshares and any other contractual or other commitments of the Company; and review Company


disclosures concerning the specific experience, qualifications, attributes or skills that led to theconclusion that each director and nominee should serve as a director in light of the Company’sbusinessandstructure;

3. Review annually with the Board the composition of the Board as a whole, including whether theBoard reflects the appropriate balance of independence, sound judgment, businessspecialization, technical skills and other desired qualities;

4. Review annually the relationships between directors, the Company and members ofmanagement and recommend to the Board whether each director qualifies as “independent”under the Board’s definition of “independence” and the applicable listing standards of The StockMarket and the all Rules asmay be framed by SEBI from time to time;

5. Review periodically the size of the Board and recommend to the Board any appropriate changes;6. develop, subject to approval by the Board, a process for an annual evaluation of the Board and its

committees and oversee the conduct of this annual evaluation;7. Review the Board's committee structure and composition and make recommendations to the

Board regarding the appointment of directors to serve as members of each committee andcommittee chairmenannually;

8. Review and recommend to the Board for approval any changes in the compensation of directors;9. Review and discuss with management the disclosure regarding the operations of the Committee

and director independence, and to recommend that this disclosure be, included in the Company'sproxy statement or annual report, as applicable; and

10. Develop and oversee a Company orientation program for new directors and a continuingeducation program for current directors.

11. Makereports to the Board as necessary in furtherance of the fulfillment of its duties.

GOVERNANCE

The Committee shall review this Policy at least annually and recommend any proposed changes to theBoard for approval. Furthermore, the Committee shall conduct an annual evaluation of the performanceof its duties under this Policy and shall present the results of the evaluation to the Board. TheCommitteeshallconductthisevaluationinsuch manneras itdeems appropriate

FFoorr && oonn BBeehhaallff ooff tthhee BBooaarrdd ooff DDiirreeccttoorrss

DDaattee :: 2299//0088//22001188 IInntteeggrraatteedd PPrrootteeiinnss LLiimmiitteeddPPllaaccee :: JJaammnnaaggaarr


[[DDIINN:: 00009944664477]] [[ DDIINN:: 0000229966007744]]


ANNEXURE – DEXTRACT OF ANNUAL RETURN MGT-9– 2017-18

(Pursuant to Section 92 (3) of the Companies Act, 2013 and Rule 12(1) of theCompany (Management & Administration) Rules, 2014)

Financial Year ended on 31/03/2018

(I) REGISTRATION AND OTHER DETAILS:

(i) CIN L15400GJ1992PLC018426

(ii) Registration date 14th October, 1992

(iii) Name of the Company INTEGRATED PROTEINS LIMITED

(iv) Category/Sub–category of the Company Company having share capital

(v) Address of the Registered Office and ContactDetails

Address of Registered Office:City Point, Opp- Town Hall,Jamnagar-361 008, Gujarat

Contact Details:Phone: 0288-2551901, 2551902, 2551903

E-Mail Id: [email protected]: www.integratedproteins.com

(vi) Whether Listed Company?Yes / No

Yes

(vii) Name, address and contact details ofRegistrar and Share Transfer Agent.

Cameo Corporate Services LimitedSubramanian Building No.1, Club HouseRoad, Chennai-600 002(Tamil Nadu)Phone: 2846 0390 (6 lines)Fax: 044-2846 0129


(II) PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:

All the business activities contributing 10% or more of the total turnover of the company shall bestated:

Sr. No. Name & Description of mainproducts/services

% to total turnoverof the company

1

Company is engaged in processing ofvarious oil seeds like soyabean, mustard/rapeseed, groundnut, etc business withwide /various range depending on ultimateapplication of the products.

100%

(III) PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:

Sr.No.

Name andaddress of the

CompanyCIN/GLN Holding/Subsidiary/Associate % of Shares

heldApplicable

Section

1 NONE


(IV) SHAREHOLDING PATTERN: (Equity Share capital Break up as % to total Equity)

(i) Category – wise share holding:

Sr.No.

Category ofShareholders

No of Shares held at the beginning ofthe year 01.04.2017

No of Shares held at the end of theyear 31.03.2018

%Changeduring

theyear

Demat Physical Total % oftotal

shares


shares

A PROMOTERS(1) Indian(a) Individual/HUF 1490540 1510 1492050 40.60% 1494140 1510 1495650 46.69 6.09%(b) Central Govt. --- --- --- --- --- --- --- --- ---(c) State Govt.(s) --- --- --- --- --- --- --- --- ---(d) Bodies Corp. --- --- --- --- --- --- --- --- ---(e) Banks/FIs --- --- --- --- --- --- --- --- ---(f) Any Other --- --- --- --- --- --- --- --- ---Sub – Total (A) (1) 1490540 1510 1492050 40.60% 1494140 1510 1495650 46.69 6.09%(2) Foreign --- --- --- --- --- --- --- --- ---

(a) NRI –Individuals --- --- --- --- --- --- --- --- ---

(b) Other –Individuals --- --- --- --- --- --- --- --- ---

(c) Bodies Corp. --- --- --- --- --- --- --- --- ---(d) Banks/FI --- --- --- --- --- --- --- --- ---(e) Any Other --- --- --- --- --- --- --- --- ---Sub – Total (A) (2) --- --- --- --- --- --- --- --- ---

TOTAL Shareholdingof Promoter

(A) =(A) (1) + (A) (2)

1490540 1510 1492050 40.60% 1494140 1510 1495650 46.69 6.09%

B PUBLICSHAREHOLDING

1 Institutions(a) Mutual Funds --- --- --- --- --- --- --- --- ---(b) Banks/FI --- --- --- --- --- --- --- --- ---(c) Central Govt. --- --- --- --- --- --- --- --- ---(d) State Govt. --- --- --- --- --- --- --- --- ---(e) Venture Capital

Funds --- --- --- --- --- --- --- --- ---

(f) InsuranceCompanies --- --- --- --- --- --- --- --- ---

(g) FIIs --- --- --- --- --- --- --- --- ---(h) Foreign Venture

Capital Funds --- --- --- --- --- --- --- --- ---

(i) Others (Specify) --- --- --- --- --- --- --- --- ---


Sr.No.

Category ofShareholders

No of Shares held at the beginning ofthe year 01.04.2017

No of Shares held at the end of theyear 31.03.2018 %

Changeduring

theyear


shares


shares

(j) Sub – Total(B)(1)

2 Non-Institutions

(a) BodiesCorporate

(i) Indian 200 71400 71600 1.95% 200 19,600 19,800 0.62%

(ii) Overseas --- --- --- --- --- --- --- ---

(b) Individuals

(i)

Individualshareholdersholdingnominal sharecapital uptoRs. 1 Lakh

85800 1164440 1250240 34.02% 88000 744340 832340 25.98% 8.04%

(ii) Individualshareholdersholdingnominal sharecapital inexcess of Rs. 1Lakh.

138400 238210 376610 10.25% 166600 205510 372110 11.62% 1.37

(c) Others(specify)HinduUndividedFamilies

6800 28200 35000 0.95% 6800 28200 35000 1.09% 0.14%

Non ResidentIndians 3500 446200 449700 12.24% 2500 446200 448700 14.01% 1.77%

Sub–total(B)(2)

234700 1948450 2183150 59.40 264100 1443850 1707950 53.31% 9.99

Total Publicshareholding(B)=B(1)+B(2)

234700 1948450 2183150 59.40% 264100 1443850 1707950 53.31% 9.99

C Shares heldby Custodianfor ADRs andGDRs.

--- --- --- --- --- --- --- --- ---

GRAND TOTAL 1725240 1949960 3675200 100% 1758240 1445360 3203600 100% 16.08

(ii) Shareholding of Promoters:


Sr.No.

Shareholder’sname

Shareholding at the beginning ofthe year 01.04.2017

Shareholding at the end of theyear 31.03.2018

%Chan

geNo. ofShares

% of totalshares of

theCompany

% ofshares

pledged/encumbe

red tototal

shares

No. ofShares

% of totalshares of

theCompany

% ofshares

pledged/encumbe

red tototal

shares

1 Arvind KantilalShah

631930 17.19% --- 631930 19.73% --- 2.54%

2 Parul Shah 89300 2.43% --- 89300 2.79% --- 0.36%3 Vinit Arvind

Shah30400 0.83% --- 30400 0.95% --- 0.12%

4 ChintanArvindbhaiShah

8200 0.22% --- 8200 0.26% --- 0.04%

5 PiyushChimanlal Vora

10010 0.27% --- 10010 0.31% --- 0.04%

6 Purnima P.Vora

1510 0.04% --- 1510 0.05% --- 0.01%

7 RanjanbenUpendrabhaiDholkia

14600 0.40% --- 18200 0.57% --- 0.17%

8 Mehta VinodPrabhulal

622300 16.93% --- 622300 19.43% --- 2.5%

9 Mehta JyotiVinod

30500 0.83% --- 30500 0.95% --- 0.12%

10 Mehta AmrishV.

53300 1.45% --- 53300 1.66% --- 0.21%

GRAND TOTAL 1492050 40.60% --- 1495650 46.69 --- 6.09%

(iii) Change in Promoter’s Shareholding:

Sr.No

Particulars Shareholding atthe beginning ofthe year 01.04.2017

Change in Shareholding CumulativeShareholdingduring the year31.03.2018

No. ofShares

% of totalshares ofCompany

Date IncreasingDecreasing

in Shareholding

Reason No. ofShares

% of totalshares of

theCompany

1 ArvindKantilal Shah

631930 17.19% 29/03/2018 2.54% Increase inpercentageof holdingdue toforfeiture ofshares andconsequent

631930 19.73%


reduction.2 Parul Shah 89300 2.43% 29/03/2018 0.36% Increase in

percentageof holdingdue toforfeiture ofshares andconsequentreduction

89300 2.79%

3 Vinit ArvindShah

30400 0.83% 29/03/2018 0.12% Increase inpercentageof holdingdue toforfeiture ofshares andconsequentreduction

30400 0.95%

4 Chintan AShah


8200 0.26%

5 PiyushChimanlalVora


10010 0.31%

6 Purnima P.Vora


1510 0.05%

7 RanjanbenUpendrabhaiDholkia

14600 0.40% 29/03/2018 0.17% Increase inpercentageof holdingdue toforfeiture ofshares andconsequentreductionand due toTransfer ofShares

18200 0.57%

8 Mehta Vinod 622300 16.93% 29/03/2018 2.5% Increase in 622300 19.43%


Prabhulal percentageof holdingdue toforfeiture ofshares andconsequentreduction

9 Mehta JyotiVinod


30500 0.95%

10 MehtaAmrish V.


53300 1.66%

(iv) Shareholding Pattern of top ten shareholders: (Other than Directors, Promoters &Holders of GDRs & ADRs):

Sr.No

Particulars Shareholding atthe beginning ofthe year01.04.2017

Change in Shareholding CumulativeShareholdingduring the year31.03.2018

No. ofShares

% of totalshares ofCompany

Date IncreasingDecreasing

in Shareholding

Reason No. ofShares

% of totalshares of

theCompany

1 LalitchandraDurgashankarPandya


61000 1.90%

2 HarenkumarRasiklal Mehta


60900 1.91%

3 Jainy Shah 54400 1.48% 29/03/2018 0.21% Increase in 54400 1.69%


percentageof holdingdue toforfeiture ofshares andconsequentreduction

4 KripalSureshchandraPandya


45000 1.40%

5 SureshchandraKashiramPandya


45000 1.40%

6 Suraj Jajodia 44400 1.21% 29.03.2018 (1.39%) SharesForfeited

0 0

7 Niyati K. Shah 43200 1.18% 29.03.2018 0.17% Increase inpercentageof holdingdue toforfeiture ofshares andconsequentreduction

43200 1.35%

8 SandhiCorporateServices Ltd.

29600 0.81% 29.03.2018 (0.92%) SharesForfeited

0 0

9 Pandya K S 29000 0.79% 29.03.2018 0.12% Increase inpercentageof holdingdue toforfeiture ofshares andconsequentreduction

29000 0.91%

10 Chetan K. Vora 28200 0.77% 29.03.2018 0.11% Increase inpercentageof holding

due toforfeiture ofshares and

consequentreduction

28200 0.88%

TOTAL 415800 11.32% 341800 10.67%


(v) SHAREHOLDING OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

1. Arvindbhai Kantilal Shah – Managing Director:

Sr.No.

For Each of theDirector and KMP

Shareholding at thebeginning of the year

01.04.2017

Cumulative shareholdingduring the year 31.03.2018

No. ofShares

% of Totalshares of the

Company

No. ofShares


Company1 At the beginning of

the year631930 17.94% 631930 19.73%

2 Date wiseincrease/decrease inshare holding duringthe year specifyingthe reasons forincrease/decrease(e.g. allotment,transfer, bonus,sweat equity, etc.)

During the year company forfeited 4,71,600 Equity Sharesand consequent to this , there is reduction in share capitaland number of shares and increase in percentage of share-holding. There is no increase in the number of shares held.

3 At the end of the year(or on the date ofseparation, ifseparated during theyear)

631930 17.94% 631930 19.73%

2. Piyush Chimanlal Vora – Director:

Sr.No.



01.04.2017


No. ofShares


Company

No. ofShares



the year10010 0.27% 10010 0.31%




10010 0.27% 10010 0.31%


3. Vinod Prabhulal Mehta – Director:

Sr.No.



01.04.2017


No. ofShares


Company

No. ofShares



the year622300 16.93% 622300 19.43%




622300 16.93% 622300 19.43%

4. Bhalchandra Hiralal Vyas – Independent Director:

Sr.No.



01.04.2017


No. ofShares


Company

No. ofShares



the year7400 0.20% 7400 0.23%


---



7400 0.20% 7400 0.23%


(V) INDEBTEDNESS:

Indebtedness of the Company interest outstanding / accrued but not due for payment:

Secured LoansExcludingDeposited

Unsecured Loans Deposits TotalIndebtedness

Indebtednessat thebeginning ofthe financialyear

(i)PrincipalAmount

(ii)Interest duebut not paid

(iii)Interestaccrued butnot due

---

---

---

---

---

---

---

---

---

---

---

---

Total (i+ii+iii) --- --- --- ---

Change inIndebtednessDuring thefinancial year

Addition

Reduction

---

---

---

---

---

---

---

---

Net Change --- --- --- ---

Indebtednessat the end ofthe financialyear

(i)PrincipalAmount

(ii)Interest duebut not paid

(iii)Interestaccrued butnot due

---

---

---

---

---

---

---

---

---

---

---

---

Total (i+ii+iii) --- --- --- ---


(VI) REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

A. Remuneration to Managing Director, Whole-time Directors and/or Manager:

Sr.No

Particulars of Remuneration ARVINDBHAIKANTILAL SHAH

(ManagingDirector)

Total Amount

1. Gross Salary:

(a) Salary as per provision contained insection 17(1) of the Income tax Act, 1961

(b) Value of perquisites under section 17(2)Income-tax Act, 1961

© Profits in lieu of salary under section 17(3)Income-tax Act, 1961

---

---

---

---

---

---

2. Stock option --- ---

3. Sweat equity --- ---

4. Commission:

- As % of profit- Other, specify…

------

------

5. Others, please specify --- ---

Total (A) --- ---

Ceiling as per the Act N.A. N.A.


B. Remuneration to other Directors:

Sr No Particulars ofRemuneration

VinodPrabhulal

Mehta

ChandrasinhChattrabhuj

Udeshi(upto

19.01.2018)

BhalchandraHiralal Vyas

VijaykumarShamjibhai

Dattani

Neepa PrafulKothari

TotalAmount

1

-

-

-

--

IndependentDirector

Fees for attendingBoard/ CommitteeMeeting

Commission

Other, please specify

TOTAL (B) (1)

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

2

-

-

-

--

Other Non –Executive Director

Fees for attendingBoard/ committeemeeting

Commission

Other, please specify

TOTAL (B) (2)

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

---

TOTAL (B) (2) --- --- --- --- --- ---

Total (B) = (1+2) --- --- --- --- --- ---

Total ManagerialRemuneration --- --- --- --- --- ---

Overall Ceiling as perthe Act --- --- --- --- --- ---


C. Remuneration to Key Managerial Personnel other than as ManagingDirector/Manager/Whole-time Director:

Sr No Particulars of Remuneration Key Managerial Personnel

CEOCompanySecretary CFO Total

1. Gross Salary

Salary as per provisions contained insection 17 (1) of the Income tax Act, 1961

Value of perquisites under section 17(2)Income tax Act, 1961

Profit in lieu of salary under section 17(3)Income tax, 1961

---

---

---

120000

---

---

120000

---

---

240000

---

---

2. Stock Option --- --- --- ---

3. Sweat Equity --- --- --- ---

4. Commission

As % of profit Other, specify

------

------

------

------

5. Other, please, specify --- --- --- ---

Total --- 120000 120000 240000


(VII) PENALTIES/PUNISHMENT/COMPOUNDING OF OFFENCES:

Type Section ofthe

CompaniesAct

BriefDescription

Details ofPenalty /

Punishment/Compoundin

g feesimposed

Authority[RD/NCLT/

COURT]

Appealmade, if any(give details)

A. COMPANY

Penalty --- --- --- --- ---

Punishment --- --- --- --- ---

Compounding --- --- --- --- ---

B. DIRECTORS

Penalty --- --- --- --- ---

Punishment --- --- --- --- ---

Compounding --- --- --- --- ---

C. OTHER OFFICERS IN DEFAULT

Penalty --- --- --- --- ---

Punishment --- --- --- --- ---

Compounding --- --- --- --- ---

FFoorr && oonn BBeehhaallff ooff tthhee BBooaarrdd ooff DDiirreeccttoorrss

DDaattee :: 2299//0088//22001188 IInntteeggrraatteedd PPrrootteeiinnss LLiimmiitteeddPPllaaccee :: JJaammnnaaggaarr

((AArrvviinnddbbhhaaii KK.. SShhaahh)) ((PPiiyyuusshh CC.. VVoorraa))MMaannaaggiinngg DDiirreeccttoorr DDiirreeccttoorr && CCFFOO

[[DDIINN:: 00009944664477]] [[ DDIINN:: 0000229966007744]]

Management Discussion and Analysis


MANAGEMENT DISCUSSION AND ANALYSIS

INDUSTRY STRUCTURE, DEVELOPMENT AND FUTURE OUTLOOK:

Although, demonetization has affected all industries, economy is now coming out of its impacts and industry has

started working. Further the numerous legislative changes by Indian Government, will further expected to grow

industry in coming years. Further, as per expert’s opinion a better monsoon is expected this year, which will also

boost the industry.

SEGMENTS:

Integrated Proteins Limited does not have multiple segments, and hence, comments are not required.

PERFORMANCE:

During the year under Report, your Company has not earned any income out of its operational activities,

However, there was other income amounting to Rs. 17,77,924.23/- during the year under report as against the

other income of Rs. 20,45,559.46/- for the financial year 2016-17. Net profit of the company has also been

decreased from Rs. 4,78,056.61/- of previous year to Rs. 1,22,167.75/-.

INTERNAL AUDIT SYSTEM :

The Company has implemented proper and adequate systems of internal control to ensure that all assets are

safe guarded and protected against loss from any unauthorized use or disposition and all transactions are

authorised, recorded and reported correctly. The System ensures appropriate information flow to facilitate

effective monitoring. The internal audit system also ensures formation and implementation of corporate policies

for financial reporting, accounting, and information security.

CAUTIONARY STATEMENTS:

All statements made in Management and Discussion Analysis has been made in good faith. Many unforeseen

factors may come into play and affect the actual results, which could be different from what the Management

envisages in terms of performance and outlook. Market data, industry information etc. contained in this Report

have been based on information gathered from various published and unpublished reports and their accuracy,

reliability, and completeness cannot be assured. Factors such as economic conditions affecting demand/supply

and priced conditions in domestic & international markets in which the Company operates, and changes in

Government regulations, tax laws, other statues and other incidental factors, may affect the final results and

performance of the Company.

For & on Behalf of the Board of DirectorsDate : 29/08/2018 Integrated Proteins LimitedPlace : Jamnagar



CERTIFICATE OF NON-APPLICABILITY OF CORPORATE GOVERNANCE REQUIREMENTS

I, CS Ankita Shah of M/s Ankita Shah and Associates, Jamnagar do hereby certify thatpursuant to provisions of Regulation 15(2)(a) of the SEBI (Listing Obligations & DisclosureRequirements) Regulations, 2015, and on the basis of latest Audited Accounts of FinancialYear 2017-18 of Integrated Proteins Limited (“the Company”) as on 31st March, 2018, paid-up share capital of the company was Rs 3,52,02,000/- which is below Rs. 10 Crores and networth of the company as on 31st March, 2018 was Rs. 2,53,97,639.47/- which is Rs. 25 Croresand accordingly the provisions relating to Corporate Governance under the aboveregulation is not applicable to the Company.

FOR, ANKITA SHAH & ASSOCIATES,

Sd/-CS ANKITA SHAHPRACTICING COMPANY SECRETARY[Membership No – 43289 CP NO. 16359]


_______________________________________________________________________________Ankita Shah & Associates

Practicing Company Secretaries

402, Cross Road, Opp. DKV College,P. N. Marg, Jamnagar - 361008

Contact No. : +91 9369393933, Email: csankitashah123gmail.com_______________________________________________________________________________

SECRETARIAL AUDIT REPORTFOR THE FINANCIAL YEAR ENDED 31stMARCH 2018

[Pursuant to section 204(1) of the Companies Act, 2013 and rule 9 of the Companies(Appointment and Remuneration of Managerial Personnel) Rules, 2014]

To,The MembersIntegrated Proteins LimitedCity Point,Opp. Town Hall,Jamnagar 361001 Gujarat

I have conducted the secretarial audit of the compliance of applicable statutory provisions andthe adherence to good corporate practices by Integrated Proteins (CIN:L15400GJ1992PLC018426) Limited (hereinafter called the Company). Secretarial Audit wasconducted in a manner that provided me a reasonable basis for evaluating the corporateconducts/statutory compliances and expressing my opinion thereon.

Based on my verification of the Company’s books, papers, minute books, forms and returnsfiled and other records maintained by the Company and also the information provided by theCompany, its officers, agents and authorized representatives during the conduct of secretarialaudit, I hereby report that in my opinion, except to the extent specified in Annexure –A (Non-Compliances), the Company has, during the audit period covering the financial year ended on 31March 2018 (‘Audit Period’) complied with the statutory provisions listed hereunder, , and alsothat the Company has proper Board-processes and compliance-mechanism in place to theextent, in the manner and subject to the reporting made hereinafter:

I have examined the books, papers, minute books, forms and returns filed and other recordsmade available to me and maintained by the Company for the financial year ended on 31stMarch2018, according to the provisions of:

1. The Companies Act, 2013 (the Act) and the rules made thereunder;2. The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder;3. The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;4. Foreign Exchange Management Act, 1999 and the rules and regulations made

thereunder to the extent of Foreign Direct Investment, Overseas Direct Investment andExternal Commercial Borrowings;

5. The following Regulations and Guidelines prescribed under the Securities and ExchangeBoard of India Act, 1992 (‘SEBI Act’): —


(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares andTakeovers) Regulations, 2011;

(b) The Securities and Exchange Board of India (Prohibition of Insider Trading)Regulations, 1992;

(c) The Securities and Exchange Board of India (Issue of Capital and DisclosureRequirements) Regulations, 2009

(d) The Securities and Exchange Board of India (Employee Stock Option Scheme andEmployee Stock Purchase Scheme) Guidelines, 1999 and The Securities and ExchangeBoard of India (Share Based Employee Benefits) Regulations, 2014 notified on 28October 2014;(Not applicable to the Company during the Audit Period);

(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities)Regulations, 2008;(Not applicable to the Company during the Audit Period);

(f) The Securities and Exchange Board of India (Registrars to an Issue and Share TransferAgents) Regulations, 1993 regarding the Companies Act and dealing with client Notapplicable as the Company is not registered as Registrar to an Issue and ShareTransfer Agent during the Audit period;

(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations,2009 (Not applicable to the Company during the Audit Period); and

(h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998(Not applicable to the Company during the Audit Period).

6. National Oil Seeds and Vegetables Oils Development Board Act., 1983, Cotton Copra andVegetable Oils Cess (Abolition) Act, 1987 and Seeds Act 1966, Pollution Prevention Act,

7. Environment Protection Act, 1986 and other environmental laws;8. Factories Act, 1984; Hazardous Wastes (Management and Handling) Rules, 1989 and

Amendment Rule, 2003 Employees Provident Fund and Miscellaneous Provisions Act,1952; and other applicable labour laws, Clean Air Act, Air Commerce and Safety Act.

9. Indian Contract Act, 1872;10. Income Tax Act, 1961 and Indirect Tax Laws;11. Indian Stamp Act, 1999;12. Negotiable Instruments Act, 1881;13. The Securities and Exchange Board of India (Listing Obligations and Disclosure

requirements) Regulations, 2015

I have also examined in general compliance with the applicable clauses offollowing1. Secretarial Standards issued by the Institute of Company Secretaries of India with

respect to Board of Directors and Committees (SS-1) and General Meetings (SS-2) issuedby the Institute of Company Secretaries of India and made effective 1st July, 2015.

2. The Listing Agreement entered into by the Company with BSE Limited as per SAEBI(Listing Obligations & Disclosure Requirements) Regulations, 2015.

During the period under review the Company has complied with the provisions of the Act,Rules, Regulations, Guidelines, Standards, etc. mentioned above, except to the extent specifiedin Annexure-A (Non-Compliances).

I further report that

The Board of Directors of the Company is not duly constituted with proper balance ofExecutive Directors, Non-Executive Directors, Independent Directors and Women Directors.


The changes in the composition of the Board of Directors that took place during the periodunder review were carried out in compliance with the provisions of the Act.

1. It has been observed that during the period under audit, the company has notappointed Independent Director till 31/03/2018 in place of Mr. Chandrasinh ChhatrabhujUdeshi pursuant to companies act, 2013. (Section 149(4)).

2. It has been observed that during the period under audit, the shares of Purnima P. Vorabelonging to promoter group is not held in demat form till 31/03/2018 as per SEBICircular SEBI/Cir/ISD/2011 Dated June 17, 2011 which mandatorily requires holding ofshares by promoter and promoter group in demat form.

3. Requirement for Publication of Newspaper Advertisement for holding AGM is notcomplied as per SEBI LODR 2015.

Adequate notice is given to all directors to schedule the Board Meetings, agenda anddetailed notes on agenda were sent at least seven days in advance.

A system exists for seeking and obtaining further information and clarifications on theagenda items before the meeting and for meaningful participation at the meeting.

All decisions at Board Meetings and Committee Meetings are carried out unanimously asrecorded in the minutes of the meetings of the Board of Directors or Committee of theBoard, as the case may be.

I further report that there are adequate systems and processes in the Company commensuratewith the size and operations of the company to monitor and ensure compliance with applicablelaws, rules, regulations and guidelines.

I further report that during the audit period, there were no instances of1. Public/ Rights / Preferential issue of shares / debentures / sweat equity.2. Redemption / buy back of securities.3. Major decision taken by the Members in pursuance to Section 180 of the Companies Act,

2013.4. Merger / amalgamation / reconstruction etc.5. Foreign technical collaborations.

Date: 02/08/2018 For Ankita Shah & AssociatesPlace: Jamnagar

Ankita ShahPracticing Company SecretaryACS- 43289 CP No. 16359

Please note that the Secretarial Audit report is to be read with letter of even date attached asAnnexure A to the report and letter also forms the integral part of report.


_______________________________________________________________________________Ankita Shah & Associates

Practicing Company Secretaries

402, Cross Road, Opp. DKV College,P. N. Marg, Jamnagar - 361008

Contact No. : +91 9369393933, Email: csankitashah123gmail.com_______________________________________________________________________________

Annexure – A

ToThe MembersIntegrated Proteins Limited

My Secretarial Audit Report of even date for the Financial Year ended on 31stMarch, 2018 is tobe read along with this letter;

a) Maintenance of secretarial records is the responsibility of the management of theCompany. Our responsibility is to express an opinion on these secretarial records basedon our audit.

b) I have followed the audit practices and processes as were appropriate to obtainreasonable assurance about the correctness of the contents of the secretarial records.The verification was done on test basis to ensure that correct facts are reflected insecretarial records. We believe that the processes and practices, we followed provide areasonable basis for our opinion.

c) I have relied on the representations made by the Company and its officers for systemsand mechanisms formed by the Company for compliances under other laws andregulations applicable to the Company and verification of documents and recordsprocedures on test check basis.

d) Wherever required, I have obtained the Management representation about thecompliances of laws, rules, regulations and standards and happening of events etc.

e) The compliance of the provisions of the Corporate and other applicable laws, rules,regulations and standards is the responsibility of the management. Our examinationwas limited to the verification of procedures on test basis.

f) The Secretarial Audit Report is neither an assurance as to the future viability of thecompany nor of the efficiency or effectiveness with which the management hasconducted the affairs of the Company.

Date: 02/08/2018 For Ankita Shah & AssociatesPlace: Jamnagar

Ankita ShahPracticing Company SecretaryACS- 43289 CP No. 16359

NOTE : 10 SHARE CAPITAL

are Capital

Equity Shares of 10 each

Equity Shares of 10 each

Issued Subscribed & Paid \m

Paid up Shares

Less: Calls Upaid

Add : Share Forfeiture During the Year

Total

As at 31st March 2018

UftitS Aint Rs.

3MM9M1 14'00?00'009:92 i0-00*000-00 4,oo,oo,pp.o.oo_^ 40,00,000.00 4,00,00,000.00

36,75,200.00 3,67,52,000.00 36,75,200.00 3,67,52,000.00 36,75,200.00 3,67,52,000.00

32,03,600.00 3,20,36,000.00 36,75,200.00 3,67,52,000.00 36,75,200.00 3,67,52,00:0.00I 4,86,000.00 - 16,01,000.00 4,86,000.00 - 16,01,000.00

4,71,600.00 31,66,000.00

32,03,600.00 3,52,02,000.66 36,75,200.00 3,51,5t00bl)0 36/75,200.00 3^51,000.00I j

AsatjUgt.March2018:•'No. of Shares

::;::..--;,,:;;.••,•No. of Shares

\i 1st

No. ofSharesNOTE : 10.1 RECONCILIATION OF NUMBER OF SHARES

Shares outstanding atthe beginning of the year 32,03,600.00 3,20,36,000.00 36,75,200.00 3,67,52,000,00 36,75,200.00 3,67,52,000,00Shares Issued during theyear - - . I '_Shares bought back during the year

Shares outstanding atthe end ofthe year 32,03,600.00 3,20,36,000.00 36,75,200.00 3,67,52,000.00 36,75,200.00 3.67,52.000.00

Arvind Shah

Vinod P Mehta

As at 31st March 2018

Units %HeId

6,31,930.00

6,22,300.00

19.73

Asat31

Units %HeIdN°TE; 10.2 Details ofShares held by shareholders holding more than 5% of the

6,31,930:00

19.43 6,22,300.00

As'At i1st.April; 2016";

17.19 6,31,930.00 17.19

16.93 6,22,300.00 16.93

24. Earnings Per Share

Particulars Year Ended on

31st March,

2018

fRs.)

Year Ended on

31st March,2017

fRs.)

Profit / (Loss) after tax attributable toEquity Shareholders (A)

Weighted Number of Equity Shareoutstanding During the year (B) (In Nos.)

Basic Earnings Per Share for each ShareofRs.10/-CA) / (B)

1,22,167.75

32,03,600.00

0.03

4,78,056.61

36,75,200.00

0.13

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