DIRECTOR’S REPORT

TO THE MEMBERS OF PRINCE NUTRITIOUS INDUSTRIES PRIVATE LIMITED

Your Directors have pleasure in presenting the 4th Annual Report together with the Audited Statement of
Accounts of your Company for the financial year ended March 31, 2018

FINANCIAL HIGHLIGHTS:

The Company’s financial performance for the year ended March 31, 2018:

Particulars Year ended 31st March 2018(In Year ended 31st March 2017(In
Rs.) Rs.)
Turnover Nil Nil
Profit(Loss) Before Tax (4,57,306) (18,672)
Less: Current Tax Nil Nil
Deferred Tax Nil Nil
Income Tax earlier years - -
Profit(Loss) For The Year (4,57,306) (18,672)

STATE OF AFFAIRS: Section 134(3)(i)

The Company is engaged in the business of manufacturing of biscuits and bakery products in India. There
has been no change in the business of the Company during the financial year ended 31st March, 2018.

DIVIDEND: Section 134(3)(k)

In view of the planned business growth, Directors of the company deem it that the company is not in
operation activities and deem it to preserve the resources of the Company for its activities and therefore,
do not propose any dividend for the Financial Year ended March 31, 2018

DETAILS OF SUBSIDIARY, JOINT VENTURE AND ASSOCIATE COMPANIES:

The Company does not have any Subsidiary, Joint Venture or Associate Company.
INTERNAL FINANCIAL CONTROL:

The Company has in place adequate internal financial controls with reference to financial statements.
During the year, such controls were tested and no reportable material weakness in the design or operation
was observed.

PARTICULAR OF LOAN AND INVESTMENT:

There are not any Loans given, investments made, guarantee given and securities provided.

CHANGE IN NATURE OF BUSINESS, IF ANY:

There is no change in the business of Company. The Board may provide details relating to change in the
business carried on by the company. This shall also contain details pertaining to classes of business in which
the company has an interest.

AMOUNTS TRANSFERRED TO RESERVES, IF ANY:

No amount was transferred to the reserves during the financial year ended 31st March, 2018.

CHANGES IN SHARE CAPITAL, IF ANY:

Not in Change in share capital of the Company.

EXTRACT OF ANNUAL RETURN:

The extract of Annual Return, in format MGT -9, for the Financial Year 2017-18 has been enclosed with this
report.

NUMBER OF BOARD MEETING 134(3)(b):

During the Financial Year 2017-18, 8 Board meetings of the Board of Directors of the company were as
follows.

S. Date of Meeting Total No. of No. of Directors %age of

No. Directors Attended Attendance
1 15/04/2017 2 2 100 %
2 30/06/2017 2 2 100 %
3 31/07/2017 2 2 100 %
4 02/09/2017 2 2 100 %
5 29/09/2017 2 2 100 %
6 12/12/2017 2 2 100 %
7 27/02/2018 2 2 100 %
8 15/03/2018 2 2 100 %
ATTENDANCE OF THE DIRECTORS:

S. Name of Director Board Meeting Whether attended

No. last AGM held
No. of No. of %age of ( Yes/ No)
Board directors Attendance
Meeting attended the
held Meeting
1 PRADEEP KR 8 2 100 % Yes
AGARWAL
2 SHILA AGARWAL 8 2 100 % Yes

PARTICULARS OF CONTRACT AND ARRANGMENT WITH RELATED PARTIES:

All related party transactions that were entered into during the financial year ended 31st March, 2018
were on an arm’s length basis and were in the ordinary course of business. Therefore, the provisions of
Section 188 of the Companies Act, 2013 were not attracted. Further, there are no materially significant
related party transactions during the year under review made by the Company with Promoters, Directors,
or other designated persons which may have a potential conflict with the interest of the Company at large.
Details of the transactions are given in AOC-2.

EXPLANATION TO AUDITOR’S REMARKS:

The observations of the Statutory Auditors“ In our opinion and according to the information and
explanations given to us, the Internal control procedure in respect of the purchase of fixed assets And for
services are adequate

MATERIAL CHANGES AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

No material changes and commitments affecting the financial position of the Company occurred between
the end of the financial year to which this financial statement relates and the date of this report.

CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

Information as required to be furnished under Section 134(3)(m) of the Companies Act, 2013, read with the
Companies (Accounts) Rules, 2014 is furnished below:

A. Conservation of Energy : The operations of Company are not energy intensive.

However wherever possible the Company strives to curtail the consumption of

energy on a continued basis.
 B. Technology Absorption : Company does not require high level of Technology in its business
but absorb new technologies time to time as per their requirement.

C. Foreign Exchange Earnings : NIL

D. Foreign Exchange Outgo : NIL

RISK MANAGEMENT POLICY:

The Company has in place a mechanism to identify, assess, monitor and mitigate various risks to key
business objectives. Major risks identified by the businesses and functions are systematically addressed
through mitigating actions on a continuing basis.

DETAILS OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

There was no Director got appointed, re-elected/re-appointed and resigned during the year under review.
DIRECTORS’ RESPONSIBILITY STATEMENT Section 134(3)(c)

Pursuant to Section 134(3)(c) and 134 (5) of the Companies Act,2013 with respect to Directors’
Responsibility Statement, the Board of Directors of the Company hereby state and confirm that:

(i) in the preparation of the Annual Accounts, the applicable accounting standards have been
followed to the extent applicable and there has been no material departure

(ii) the directors had selected such accounting policies and applied them consistently and the
Directors made judgments and estimates that are reasonable and prudent so as to give a true
and fair view of the state of affairs of the Company as at March 31, 2018

(iii) Proper and sufficient care has been taken for the maintenance of adequate accounting records
in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of
the Company and for preventing and detecting fraud and other irregularities.

(iv) The Annual Accounts have been prepared on a going concern basis

(v) The Directors had devised proper systems to ensure compliance with the provisions of all
applicable laws and that such system were adequate and operating effectively.

DETAILS OF SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNAL:
No significant or material orders were passed by the Regulators or Courts or Tribunals which impact the
going concern status and Company’s operations in future.

DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION &

REDRESSAL) ACT, 2013

The Company is committed to provide a safe and conducive work environment to its employees. During the
year under review. Your Directors further state that during the year under review, there were no cases filed
pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act,
2013.

DETAILS OF EMPLOYEES

(i) No employee employed throughout the year financial year , was in receipt of remuneration for
that year which, in the aggregate of equal or more than sixty lakh rupees;
(ii) No employee employed for a part of the financial, was in receipt of remuneration for any part
of that year, at a rate which, in the aggregate of equal or more than five lakh rupees per
month;
(iii) No employee employed throughout the financial year or part thereof, was in receipt of
remuneration in that year which, in the aggregate, or as the case may be, at a rate which, in
the aggregate, is in excess of that drawn by the MD or WTD or manager and holds by himself or
along with his spouse and dependent children, equal or mare than two percent of the equity
shares of the company.

ACKNOWLEDGEMENTS

Your Directors place on record their appreciation of assistance and cooperation extended to the Company
by Banker, Staff and Management of the Parent Company and Government Departments.

For and on behalf of the Board of

PRINCE NUTRITIOUS INDUSTRIES PRIVATE LIMITED

PRADEEP KUMAR AGARWAL SHILA AGARWAL

Director Director
DIN: 06924488 DIN: 06924842

Date: September 2, 2018

Place: Dhanbad