Your Directors are pleased to present the 33rd Annual Report covering the operational and financial
performance of your Company along with the Audited Financial Statements for the financial year ended
March 31, 2024.
FINANCIAL RESULTS
The Financial Results for the year under review are given below:
(Rs. In Lacs)
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Particulars
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Year ended
31.03.2024
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Year ended
31.03.2023
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Total Income
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18.74
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14.91
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Profit before tax
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6.52
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5.04
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Less : Provision for Taxation
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Current Tax
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1.38
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1.29
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Deferred Tax
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0.99
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-
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Profit after tax
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4.35
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3.41
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PERFORMANCE
The Total Income for the financial year under review is Rs. 18.74 Lacs against Rs. 14.91 Lacs in previous
year. During the year, the Company has earned Profit after Tax of Rs.4.35 Lacs in comparison to the
previous year Loss after Tax of Rs. 3.41 Lacs. The directors are hopeful for better performance in the
ensuing years.
STATE OF THE COMPANY'S AFFAIRS
The Company is engaged in the business of Trading of Coal. There has been no Change in the nature of
the business of the Company during the financial year ended on 31st March, 2024.
DIVIDEND
In order to strengthen the financial position of the company the Board of Directors have decided not to
recommend any dividend for the Financial Year ended 31stMarch, 2024 and plough back the profits of
the company in its business.
TRANSFER TO RESERVE
The company does not propose to transfer any amount to reserve.
WEBSITE OF THE COMPANY
The Company maintains a website www.paQariaenerav.com
DIRECTORS AND KEY MANAGERIAL PERSONNEL
In accordance with the articles of the Company and the provisions of the Companies Act, 2013,
Mr. Kartik Sarkar, is liable to retire by rotation at the ensuing Annual General Meeting and being eligible,
offer himself for re-appointment on the Board of your Company. Your Directors recommend his re¬
appointment.
MEETINGS OF THE BOARD OF DIRECTORS
The Board of Directors duly met 5 times during financial year 2023-24. The date on which meetings were
held are as follows: 29th May,2023; 14th August 2023 ; 01st September, 2023; 14th November, 2023 and
13th February, 2024.
AUDIT COMMITTEE
The Composition and terms of reference of the Audit Committee has been furnished in the Corporate
Governance Report forming part of this Annual Report. There has been no instance where the Board has
not accepted the recommendations of the Audit Committee.
INDEPENDENT DIRECTOR'S DECLARATION
The Company has received necessary declaration from all Independent Directors in accordance with
section 149(7) of the Companies Act, 2013 that they meet the criteria of independence as laid down in
section 149(6) of the Companies Act, 2013 and the SEBI (Listing Obligation and Disclosure Requirements)
Regulations, 2015.
ANNUAL EVALUATION OF BOARD'S PERFORMANCE
According to Regulation 25 of SEBI (Listing Obligation and Disclosures Requirement) Regulations, 2015
and Schedule IV of the companies Act, 2013 a meeting of the Independent Directors is required to be
held to review the performance of the Non- Independent Directors and the Board as a whole. Accordingly
a separate meeting of Independent Directors was held on 22ndDecember, 2023 wherein the performance
of the Non-Executive Directors and the Boards as a whole was evaluated.
LISTING OF SHARES
Your Company is listed with Delhi Stock Exchange and Bombay Stock Exchange. The Company is regular
to pay the listing fees.
SUBSIDIARY/ASSOCIATES/JOINT VENTURE COMPANIES
The Company does not have any subsidiary/associate/joint venture company for the year ended
31st March, 2024.
STATUTORY AUDITORS
The Statutory Auditors of the Company M/s Manish Mahavir & Co., Chartered Accountants (Firm
Registration No. 324355E) was appointed in the 32nd Annual General Meeting (AGM) held on 29th
September, 2023 for a term of five consecutive years from the conclusion of the 32nd Annual General
Meeting till the conclusion of the 37th Annual General Meeting as per the provisions of Section 139 of
the Companies Act.
The observations of the Auditors as referred to in the Auditor's Report are suitably explained in the
notes to the account.
SECRETARIAL AUDITOR
The Board of Directors of the Company had appointed M/s. M R & Associates, a firm of Company
Secretaries pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 for undertaking the secretarial
audit of the company for the financial year ended 2023-24. The Secretarial Audit Report in Form MR-3
given by the Secretarial Auditor is given in Annexure I which forms a part of this report.
COMPLIANCE WITH THE ACCOUNTING STANDARDS
The Company prepares its accounts and other financial statements in accordance with the relevant
accounting principles and also complies with the accounting standards issued by the Institute of
Chartered Accountants of India.
CORPORATE GOVERNANCE
In accordance with the SEBI (LODR) Regulation, 2015, the Corporate Governance Report and Auditor's
Certificate regarding compliance of conditions of Corporate Governance is annexed hereto.
DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
Your Company is committed to provide and promote safe, healthy and congenial atmosphere
irrespective of gender, caste, creed or social class of the employees. No cases have been filed under the
Act as the Company is keeping the working environment healthy.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 134 of the Companies Act, 2 0 1 3, the Board of Directors of the Company hereby
state and confirm that
I. In the preparation of the annual accounts for the year ended March 31, 2024, the applicable
accounting standards have been followed along with proper explanation relating to material
departures.
II. The directors have selected such accounting policies and applied then consistently and made
judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state
of affairs of the Company at the end of the financial year 31st March, 2024 and of the Profit of the
Company for the year ended on that date.
III. The directors have taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of those Acts for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities.
V. The annual accounts have prepared on a going concern basis.
V. The Directors have laid down internal financial controls to be followed by the company and that
such internal financial controls are adequate and are operating effectively ;and
VI. The Directors have devised proper systems to ensure compliance with the provisions of all
applicable Laws and that such systems are adequate and operating effectively.
PUBLIC DEPOSITS
During the year, your Company has not accepted any deposits from the public within the meaning of
Section 73 of the Companies Act, 2013 and the rule made there under.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
The Company has not given any loans, guarantees or made any investments exceeding sixty per cent of
its paid up share capital, and free reserves including Securities Premium Account or one hundred per
cent of its free reserves including securities premium Account, which is more, as prescribed in Section
186 of the Companies Act, 2013.
MATERIAL CHANGES AND COMMITMENTS
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.
RELATED PARTY TRANSACTIONS
During the financial year ended 31st March, 2024, the Company has not entered in to any transactions
with the related party in accordance with section 188 of the Companies Act, 2013. Therefore, the
requirement of disclosure is not required to be made to the related party transaction in Form AOC-2.
PARTICULARS OF EMPLOYEES
None of the employees of the Company was in receipt of remuneration exceeding the limits
prescribed under section 134 of the Companies Act, 2013.
ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS
The Company has in place adequate internal financial controls with reference to financial statements.
During the year under review, such controls were tested and no reportable material weakness in the
design or operation was observed.
CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE EARNINGS AND
OUTGO
As required under Section 134(3) (m) of the Companies Act, 2013, read with rules made there under,
the information relating Conservation of Energy Technology Absorption and Foreign Exchange Earning
& Outgo is given in Annexure II. This forms a part of this Report.
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS. COURTS AND
TRIBUNALS
No significant and material order has been passed by the regulators, courts, tribunals impacting the
going concern status and Company's operations in future.
MAINTENANCE OF COST RECORDS AS SPECIFIED BY THE CENTRAL GOVERNMENT UNDER SUB-SECTION
(1) OF SECTION 148 OF THE COMPANIES ACT, 2013.
The Company is not required to maintain any cost records as specified by the Central Government
under sub-section (1) of section 148 of Companies Act, 2013.
ACKNOWLEDGEMENT
Your Directors would like to place on record their appreciation for the assistance, co-operation and
whole-hearted support received from Company's bankers, advisors, customers and investors and all,
whose continued support has been a source of strength to the Company. Your Directors place on
record their appreciation for the valuable contribution made by employees at all levels.
On behalf of the Board
Dibbyendu Jana Hanumanmal Bengani
Place: Delhi Director Managing Director
Date : May 29, 2024 DIN: 08898353 DIN: 08425643
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