Dear Shareholders,
We are delighted to present the Fifth (05th) Annual Report together
with the Audited Financial Statements of the Company for the year ended 31st
March 2023.
1. FINANCIAL RESULTS
The performance of the Company for the financial year 2022-23 is summarized below:
(Rs. in Lacs)
|
Standalone |
Consolidated |
|
As on 31st March |
As on 31st March |
Particulars |
2023 |
2022 |
2023 |
2022 |
Revenue from Operations and Other Income |
503.68 |
485.90 |
2296.66 |
1414.10 |
Profit/ (Loss) before depreciation and tax |
256.61 |
230.00 |
557.57 |
276.34 |
Less: - Depreciation |
2.63 |
3.10 |
11.06 |
4.19 |
Profit/ (Loss) Before Tax |
253.98 |
226.90 |
546.51 |
272.15 |
Less: - Tax Expenses for Current Year |
66.34 |
54.00 |
139.38 |
64.89 |
Less: - Deferred Tax |
(1.39) |
(0.30) |
(0.64) |
0.23 |
Profit after Tax |
189.03 |
173.20 |
407.76 |
207.03 |
Total Other Comprehensive Income |
(72.98) |
(48.31) |
(72.99) |
(48.31) |
Total Comprehensive Income for the Period |
116.05 |
124.89 |
334.78 |
158.71 |
Total Comprehensive income for the period attributable to |
|
|
|
|
Controlling Interest |
- |
- |
267.71 |
158.13 |
Non Controlling Interest |
- |
- |
67.07 |
0.58 |
Profit / (Loss) Carried to Balance Sheet |
116.05 |
124.89 |
334.78 |
158.71 |
Earnings per share (EPS) |
|
|
|
|
Basic |
0.56 |
0.54 |
1.19 |
0.65 |
Diluted |
0.55 |
0.54 |
1.17 |
0.65 |
OPERATIONS
Standalone and Consolidated
During the year under review, Revenue from Operations and Other Income of the Company
stood at Rs. 503.68 Lacs on Standalone basis in comparison to Rs. 485.90 Lacs in
the previous year, showing an increase in business activities of the Company.
The Profit before tax has increased by Rs. 27.08 Lacs showing Rs. 253.98 Lacs
in current year, which leads to an increase in profit after tax of Rs. 15.83 Lacs showing
Profit after tax of Rs. 189.03 Lacs.
During the year under review, Revenue from Operations and Other Income of the Company
stood at Rs. 2296.66 Lacs on Consolidated basis, and Profit before tax was Rs.
546.51 Lacs in current year, which leads to a profit after tax of Rs. 407.76 Lacs.
2. DIVIDEND
The company is planning to venture into and is setting up Industrial unit for
manufacturing of 150 KLPD Ethanol Product, DDGS and other allied products at Chandrapur
(Tadali) Growth Centre, MIDC Chandrapur. the company will require huge Investments and
therefore, looking at the availability of investment opportunities within the company
itself, your board has decided not to recommend dividend to the shareholders for the
financial year ended 31st March 2023.
3. AMOUNT TRANSFERRED TO RESERVE
The company has not transferred any amount to any specific reserve fund during the
financial year under review.
4. CHANGE IN NATURE OF BUSINESS
There was no change in nature of Business of the Company during the year under review.
5. DEPOSITS
The Company has not accepted any deposits from public within the meaning of Section 73
of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014,
However, company has taken loan from Directors of the company with due compliance of
declaration as required pursuant to Companies (Acceptance of Deposits) Rules, 2014.
The company has accepted unsecured loan from its directors and their relatives, details
of which is given hereunder:
Sr. No |
Name of Director/ Relative of Director |
Category |
Amount (in Rs.) as on 31.03.2023 |
1. |
Mr. Anshu Subhash Goel |
Director |
5,65,252.00 |
2. |
Ms. Neha Anshu Goel |
Director |
93,229.00 |
3. |
Mr. Vedant Goel |
Director |
73,192.00 |
|
Total |
|
7,31,673.00 |
6. SHARE CAPITAL
During the year under review, the authorized share capital of the company has increased
from Rs. 14,00,00,000/- divided into 2,80,00,000 equity shares of Rs. 05 each to Rs.
21,00,00,000/- divided into 4,20,00,000/- equity shares of Rs. 05 each on 26th
August 2022.
The authorized share capital as on 31st March 2023 is Rs. 21,00,00,000/-
(Twenty-One Crores) divided into 4,20,00,000 equity shares of Rs. 05 each.
The Company has made bonus issue of equity share capital in the ratio of 1:2 and has
allotted 1,12,86,589 equity shares of Rs. 05 each on 22nd September 2022.
Further, the company, as per the approval of members in its Extra Ordinary General
Meeting held on 11th November 2022, has issued 25,00,000 convertible share
warrants. The company converted 12,83,000 warrants and subsequently issued 12,83,000
equity shares on 19th November 2022. The number of warrants outstanding as on
31.03.2023 is 12,17,000.
The paid-up share capital of the company as on 31st March 2023 is Rs.
17,57,13,835.00/- (Rupees Seventeen Crores Fifty-Seven Lakhs Thirteen Thousand Eight
Hundred and Thirty- Five) divided into 3,51,42,767 equity shares of Rs. 05 each.
7. HUMAN RESOURCE & EMPLOYEE RELATIONS
Employee relations were harmonious throughout the year. The Board wishes to place on
record their sincere appreciation to the co-operation extended by all the employees in
maintaining cordial relations.
8. CORPORATE GOVERNANCE
Integrity and transparency are key factors to our corporate governance practices to
ensure that we achieve and will retain the trust of our stakeholders at all times.
Corporate governance is about maximizing shareholder value legally, ethically and
sustainably. At Alphalogic, our Board exercises its fiduciary responsibilities in the
widest sense of the term. Our disclosures seek to attain the best practices in
international corporate governance. We also endeavor to enhance long-term shareholder
value and respect minority rights in all our business decisions. The detailed Corporate
Governance Report form a part of this Board Report as "Annexure A".
9. MANAGEMENT DISCUSSION & ANALYSIS REPORT
In terms of the provisions of Regulation 34 and schedule V of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 the Management Discussion and
Analysis Report is annexed and marked as "Annexure B".
10. DIRECTORS' RESPONSIBILITIES STATEMENT
To the best of their knowledge and belief, your Directors make the following statements
in terms of Section 134(3) (c) read with Section 134(5) of the Companies Act, 2013:
i. That in the preparation of the annual accounts for financial year ended 31st
March, 2023; the applicable accounting standards have been followed along with proper
explanation relating to material departures, if any;
11. That the Directors have selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and prudent to give a
true and fair view of the state of affairs of the Company at the end of financial year and
of the profit and loss of the Company for that period.
iii. That the Directors have taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provisions of this Act for
safeguarding the assets of the Company and for preventing and detecting fraud and other
irregularities.
iv. That the Directors have prepared the annual accounts on a going concern basis.
v. That the Directors have laid down internal financial controls, which are
adequate and are operating effectively;
vi. That the Directors have devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and operating
effectively.
11. DIRECTORS AND KEY MANAGERIAL PERSONNEL
a) Retirement by Rotation
Mrs. Neha Anshu Goel (DIN 08290823), Director of the Company retires by rotation in
accordance with the provisions of the Articles of Association of the Company and being
eligible to offer herself for re-appointment. The Board recommends her re-appointment.
b) Change in Directors
After the closure of financial year:
- Mr. Pawan Bansal having DIN: 00312962 tendered his resignation from the
company with effect from 11th August 2023.
- Mr. Dhananjay Subhash Goel having DIN: 08290798 has been appointed as
Additional NonExecutive Director of the company with effect from 11th August
2023.
- Mr. Amar Raykantiwar having DIN: 09438320 has been appointed as the
Chairperson of the Board of Directors with effect from 11th August 2023.
Disclosures by Directors
The Directors on the Board have submitted notice of interest under Section 184(1) i.e.,
in Form MBP- 1 and declaration as to compliance with the Code of Conduct of the Company.
All Independent Directors have also given declarations that they meet the criteria of
independence as laid down under Section 149(6) of the Act. Details of the proposal for
appointment/re- appointment of Directors are mentioned in the Notice of the Annual General
Meeting.
c) Appointment of Company Secretary
During the Year under review, Ms. Suruchi Maheshwari having PAN: DHUPM1889K has
resigned as Company Secretary and Compliance Officer of the Company w.e.f. 12th July,2022
and Ms. Veena Girish Kulkarni was appointed as Company Secretary w.e.f. 13th July,
2022.
Ms. Veena Girish Kulkarni having PAN: HHQPK5830J has resigned as Company Secretary and
Compliance Officer of the Company w.e.f. 23rd December 2022 and Mr. Abhishek
Shrivastav having PAN: KOSPS3671R was appointed as Company Secretary w.e.f. 24th December,2022.
After the closure of financial year Mr. Abhishek Shrivastav having PAN: KOSPS3671R
resigned as the Company Secretary and Compliance officer of the company with effect from
11th August 2023 and Ms. Vanshika Sharma having PAN: HGOPS5521P was appointed
as Company Secretary and Compliance Officer with effect from 12th August 2023.
12. SUBSIDIARIES, IOINT VENTURES AND ASSOCIATES
During the year under review and after closure of Financial Year the below mentioned
changes took place for the following Subsidiaries of the company -
S.No. |
Particulars |
Status |
1. |
Alphalogic Industries Limited (Formerly known as Alphalogic Trademart Limited) |
Subsidiary Company |
|
|
During the F.Y. 2022-23, Alphalogic Industries Limited made a Rights Issue of 1,96,078
shares of Rupees 10 each at a premium of Rupees 105 per share. Our company made
application for 1,16,672 shares and was allotted the same on 30th March 2023. |
2. |
Faraday Digital Inc {Formerly known as Skillbit Software Inc. (USA)} |
Subsidiary Company |
|
|
The Board of Directors have discussed and approved on August 11, 2023, closure of
its Subsidiary Company, Faraday Digital Inc. based in the state of Wyoming, USA. For the
Financial Year 2022-23, Faraday Digital Inc. did not have any active business operations
and its closure would not affect the turnover/revenue and profitability of the Company.
This decision was made keeping in mind the Company's intention to simplify its corporate
structure. |
During the year under review the company has no joint ventures or Associate Companies
except the subsidiaries formed in the F.Y. 2020-21 with the objective of enhancing and
diversifying Company's business to different economic sectors providing large customer
base, over the years to come. The consolidated statement of account for the financial year
ended 31.03.2023 in form of AOC-1 has been attached as "Annexure C to
the Director's Report.
13. NUMBER OF MEETINGS OF THE BOARD
Ten Meetings of the Board of Directors were held during the financial year 2022-23:
S.No. |
Date of Meeting |
Directors Present |
1 |
27th May 2022 |
06 |
2 |
12th July 2022 |
06 |
3 |
03rd August 2022 |
06 |
4 |
29th August 2022 |
06 |
5 |
22nd September 2022 |
06 |
6 |
18th October 2022 |
06 |
7 |
12th November 2022 |
06 |
8 |
19th November 2022 |
06 |
9 |
23rd December 2022 |
06 |
10 |
20th January 2023 |
06 |
The intervening gap between any two Meetings was within the period prescribed under the
Companies Act, 2013.
Separate Meeting of Independent Directors:
As stipulated by the Code of Independent Directors under the Companies Act, 2013; a
separate meeting of the Independent Directors of the Company was held on January 20th,
2023 to review the performance of Non-Independent Directors and the entire Board. The
Independent Directors also reviewed the quality, contents and timeliness of the flow of
information between the Management and the Board and its' Committees which is necessary to
effectively and reasonably perform and discharge their duties.
14. NUMBER OF MEETINGS OF THE SHAREHOLDERS
S.No. |
Type of Meeting |
Date of Meeting |
1 |
Annual General Meeting (AGM) |
26 th August 2022 |
2 |
Extraordinary General Meeting (EOGM) |
11th November 2022 |
15. CODE OF CONDUCT
The Company has laid down a code of conduct for all Board members and Senior Management
and Independent Directors of the Company. All the Board members including Independent
Directors and Senior Management Personnel have affirmed compliance with the code of
conduct.
16. DECLARATION BY INDEPENDENT DIRECTORS
The Company has received necessary declaration from each independent director under
Section 149(7) of the Companies Act, 2013, that he/she meets the criteria of independence
laid down in Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) and 25 of
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
17. BOARD EVALUATION
Pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the evaluation of all the directors and the
Board as a whole was conducted based on the criteria and framework adopted by the Board.
The performance evaluation of the Independent Directors was carried out by the entire
Board. The performance evaluation of the Non-Independent Directors and Board as a whole
was carried out by the Independent Directors. The Directors expressed their satisfaction
with the evaluation process.
18. COMMITTEES OF THE BOARD
As on March 31, 2023, the Board had Four committees: the audit committee, the
nomination and remuneration committee, the stakeholders' relationship committee and the
management committee. The committees consist of optimum number of independent directors as
required under the Companies Act 2013 and the SEBI (LODR) Regulations, 2015.
A. Composition of Audit Committee
The Board of Directors in its meeting held on June 24, 2019, constituted an Audit
Committee in compliance with the provision of Section 177 of Companies Act, 2013.
S. No. |
DIN/ PAN |
Name of Director/ KMP |
Designation |
No. of Meetings Attended |
1. |
00312962 |
Mr. Pawan Bansal |
Non-Executive Independent Director |
05 |
2. |
08197194 |
Mr. Rohan Kishor Wekhande |
Non-Executive Independent Director |
05 |
3. |
08290775 |
Mr. Anshu Goel |
Executive Director |
05 |
*Company Secretary shall act as the secretary of this Committee.
During the year under review, 5 (Five) meetings of the Audit Committee were held on 27th
May 2022, 12th July 2022, 18th October 2022, 12th
November 2022 and 20th January 2023.
*After the closure of Financial Year, Mr. Pawan Bansal resigned from the Board of
Directors and Audit Committee and subsequently Mr. Amar Raykantiwar was appointed as the
Chairperson and Member of Audit Committee with effect from 11th August 2023.
B. Composition of Nomination and Remuneration Committee
The Board of Directors in its meeting held on June 24, 2019, constituted a Nomination
and Remuneration Committee in compliance with the provision of Section 178 of Companies
Act, 2013.
S. No |
DIN/ PAN |
Name of Director/ KMP |
Designation |
No. of Meetings Attended |
1. |
00312962 |
Mr. Pawan Bansal |
Non-Executive - Independent Director |
02 |
2. |
08197194 |
Mr. Rohan Kishor Wekhande |
Non-Executive - Independent Director |
02 |
4 |
08290832 |
Mr. Vedant Goel (Appointed with effect from 14th February 2022) |
Non-Executive - Non-Independent Director |
02 |
*Company Secretary shall act as the secretary of this Committee.
During the year under review, 2 (Two) meetings of the Nomination and Remuneration
Committee were held on 12th July 2022 and 23rd December 2022.
*After the closure of Financial Year, Mr. Pawan Bansal resigned from the Board of
Directors and Nomination and Remuneration Committee and subsequently Mr. Amar Raykantiwar
was appointed as the Chairperson and Member of Nomination and Remuneration Committee with
effect from 11th August 2023.
C. Composition of Stakeholders Relationship Committee
The Board of Directors in its meetings held on June 24, 2019 constituted a Stakeholders
Relationship Committee in compliance with the provision of Section 178 of Companies Act,
2013.
S. No. |
DIN/ PAN |
Name of Director/ KMP |
Designation |
No. of Meetings Attended |
1. |
00312962 |
Mr. Pawan Bansal |
Independent Director/ Chairman |
01 |
2. |
08197194 |
Mr. Rohan Kishor Wekhande |
Independent Director/Member |
01 |
4. |
08290775 |
Mr. Anshu Goel (appointed with effect from 17th December 2021.) |
MD/ Member |
01 |
*Company Secretary shall act as the secretary of this Committee.
During the year under review, 1 (One) meeting of the Stakeholder Relationship Committee
was held on 20th January 2023.
*After the closure of Financial Year, Mr. Pawan Bansal resigned from the Board of
Directors and Stakeholders Relationship Committee and subsequently Mr. Amar Raykantiwar
was appointed as the Chairperson and Member of Stakeholders Relationship Committee with
effect from 11th August 2023.
D. Composition of Management Committee
The Board of Directors in its meetings held on April 01, 2020 constituted a Management
Committee in compliance with the provision of Section 179 of Companies Act, 2013.
S. No. |
DIN/ PAN |
Name of Director/ KMP |
Designation |
No. of Meetings Attended |
1. |
08290775 |
Mr. Anshu Goel |
Executive Director |
05 |
2. |
08290823 |
Ms. Neha Anshu Goel |
Executive Director |
05 |
3. |
08197194 |
Mr. Rohan Kishor |
Non-Executive Independent |
01 |
|
|
Wekhande (resigned w.e.f. 12.07.2022) |
Director |
|
*Company Secretary shall act as the secretary of this Committee.
During the year under review, 5 (Five) meetings of the Management Committee was held on
27th May 2022, 03rd August 2022, 18th October 2022, 20th
January 2023 and 27th March 2023.
19. INTERNAL FINANCIAL CONTROLS
Your Company has appointed Mr. Lakshya Chamaria as its Internal Auditor. The Board has
adopted policies and procedures for ensuring the orderly and efficient conduct of its
business, including adherence to the Company's policies, safeguarding of its assets,
prevention and detection of fraud, error reporting mechanisms, accuracy and completeness
of the accounting records, and timely preparation of reliable financial disclosures.
*After the closure of Financial Year, Mr. Lakshya Chamaria resigned as the Internal
Auditor of the Company and subsequently Mr. Anand Acharya was appointed as the Internal
Auditor of the Company with effect from 11th August 2023.
20. PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS
Details of Loans, Guarantees and Investments covered under the provisions of Section
186 of the Companies Act, 2013 are given in the Notes to the Financial Statements.
21. RELATED PARTY TRANSACTIONS
All Related Party Transactions that were entered into during the Financial Year 2022-23
were on Arm's Length Basis and were in the Ordinary Course of business. There were no
materially significant Related Party transactions made by the Company with Promoters,
Directors, Key Managerial Personnel or other designated persons which may have a potential
conflict with the interest of the Company at large.
All Related Party Transactions were approved by the Audit Committee on omnibus basis or
otherwise, and the Board. The transactions entered into by the company are audited. The
Company has developed a Policy on dealing with Related Party Transactions.
Particulars of contracts or arrangements with related parties referred to in Section
188(1) of the Companies Act, 2013, in the prescribed Form AOC-2, is appended as "Annexure
D" to the Board report. The Policy on materiality of related party
transactions and dealing with related party transactions as approved by the Board may be
accessed on the Company's website at the link: http s://www. alphalo gicinc.com/.
22. MATERIAL CHANGES AND COMMITMENT BETWEEN THE END OF FINANCIAL YEAR AND DATE OF
THE BOARD REPORT
The Subsidiary of the Company, Alphalogic Industries Limited, made an Initial Public
Issue of 13,41,600 shares of Rs. 10 each at an Issue Price of Rs. 96 per equity share
aggregating to Rs. 1287.94 lakhs. Subsequently, Equity Shares of Subsidiary Company got
listed on the SME platform of BSE Limited on 14th July 2023. Apart from the
above change, there were no Material Changes and Commitment Between the end of Financial
Year and Date of the Board Report.
23. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS/
OUTGO
The provisions of Section 134(3) (m) of the Companies Act, 2013 in respect of
conservation of energy and technology absorption do not apply to the Company. Accordingly,
these particulars have not been provided.
During the year under review, the foreign exchange earnings were Rs. 1,02,55,650.00/-
(Previous Year Rs. 62,76,431.24/-). No foreign exchange expenditure were made during the
year.
24. PARTICULARS OF THE EMPLOYEES AND RELATED DISCLOSURES
None of the employee has received remuneration exceeding the limit as stated in Rule
5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
Disclosure pertaining to remuneration and other details as required under Section 197(12)
of the Companies Act, 2013 read with rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules 2014, are given in the "Annexure
E" forming part of this report.
25. POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION
The policy on Directors' Appointment and Remuneration including criteria for
determining qualifications, positive attributes, independence of a director and other
matters provided under sub- section (3) of Section 178 of the Companies Act, 2013, adopted
by the Board, is placed on website of the company at www.alphalogicinc.com and the salient
features of the same appended as "Annexure F" forming part of this
report.
26. VIGIL MECHANISM / WHISTLE BLOWER POLICY
The Company has a Vigil Mechanism which also incorporates a Whistle Blower Policy in
line with the provisions of the Companies Act, 2013 and the Regulation 22 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 to report genuine
concerns or grievances. The Vigil Mechanism/ Whistle Blower Policy may be accessed on the
Company's website at http s://www. alphalo gicinc.com/.
27. RISK MANAGEMENT POLICY
Pursuant to Section 134 (3) (n) of the Companies Act, 2013, the Board of the Company
has formed a Risk Management Policy for the Company to identify elements of risk and
monitor the Risk and establish control.
28. CORPORATE SOCIAL RESPONSIBILITY (CSR)
The Company has not developed and implemented any Corporate Social Responsibility
initiatives as the said provisions are not applicable to the Company.
29. AUDITORS & AUDITORS' REPORT
The Company has Appointed M/s. Patki & Soman, Chartered Accountants, (FRN:
107830W) as Statutory auditor of the company to hold office from the conclusion of
First Annual General Meeting (AGM) till the conclusion of the Sixth Annual General Meeting
(AGM) to be held in the year 2024. The Company has received a certificate of eligibility
from the statutory auditors in accordance with the provisions of Section 141 of the Act.
There is no requirement for ratification of auditors in this Annual General Meeting as per
the provision of Section 139 of the Companies Act, 2013 as amended. Further, the notes
referred to by the Auditors in their Report are self-explanatory and hence do not require
any explanation.
30. REPORTING OF FRAUDS BY AUDITORS
During the year under review, neither the statutory auditors nor the secretarial
auditor has reported to the audit committee, under Section 143 (12) of the Companies Act,
2013, any instances of fraud committed against the Company by its officers or employees,
the details of which would need to be mentioned in the Board's report.
31. SECRETARIAL AUDIT
Pursuant to the ICSI Guidelines with respect to certification and audit applicable on
the company and provisions of Section 204 of the Companies Act, 2013, Rules made
thereunder, the Company has appointed CS Sudhanshu Panigrahi, Practicing Company Secretary
being eligible and peer reviewed to undertake the Secretarial Audit and other listing
certifications of the Company from the financial year 2022-23. The Secretarial Audit
Report for the financial year 2022-23 is annexed herewith as "Annexure G"forming
part of this report.
32. SIGNIFICANT AND MATERIAL ORDERS
There are no significant and material orders passed by the regulator or courts or
tribunals impacting the going concern status of the Company and future operations.
33. ANNUAL RETURN
In accordance with Section 134(3) (a) of the Companies Act, 2013, the Annual Return of
the company is provided on the website of the company at www.alphalogicinc.com.
34. SECRETARIAL STANDARDS
The Directors state that the applicable secretarial standards i.e., SS-1 and SS-2,
relating to 'Meeting of the Board of Directors' and 'General Meeting', respectively, have
been duly followed by the Company.
35. INVESTOR EDUCATION AND PROTECTION FUND (IEPF)
During the year under review, the provision of section 125(2) of Companies Act, 2013
does not apply as the company was not required to transfer any amount to the Investor
Education Protection Fund (IEPF) established by Central Government of India.
36. COST AUDITOR AND MAINTENANCE OF COST RECORDS:
The Company is not required to maintain cost accounts and records as specified under
section- 148 of the Companies Act, 2013.
37. DETAILS OF DIFFERENCES BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE
TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL
INSTITUTIONS ALONG WITH THE REASONS THEREOF:
Your company had not made any one-time settlement with any of its lenders.
38. DETAILS OF APPLICATIONS MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE 2016:
There were no applications made during the financial year 2022-23 by or against the
company and there are no proceedings pending under the Insolvency and Bankruptcy Code
2016.
39. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION.
PROHIBITION AND REDRESSAL) ACT. 201 3:
In accordance with the requirements of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 ("POSH Act") the Company as a
Policy with zero tolerance for any misconduct related to sexual harassment of women at
workplace.
During the year under review, there were no complaints received under the Sexual
Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013
40. DISCLOSURES
Your Company has always believed in providing a safe and harassment free workplace for
every individual working in company's premises through various interventions and
practices.
The Company always endeavors to create and provide an environment that is free from
discrimination and harassment including sexual harassment and for this purpose the company
has in place a robust policy, aiming to obtain the complaints, investigate and prevent any
kind of harassment of employees at all levels. For the current financial year end, no
complaint was received by the company.
41. ACKNOWLEDGEMENTS
The Directors wish to convey their appreciation to all of the employees of the Company
for their stupendous efforts as well as their collective contribution during the year. The
Directors would also like to thank the shareholders, customers, suppliers, bankers and all
other business associates and the Government authorities for their continuous support
given to the Company and their confidence in the management.
For and on Behalf of Board of Directors ALPHALOGIC TECHSYS LIMITED
|
Anshu Goel |
Neha Goel |
Date: 11-August-2023 |
Managing Director |
Director |
Place: Pune |
DIN:08290775 |
DIN: 08290823 |
|