24th annual report 2018-19 - neeraj paper marketing ltd paper annual... · 2019-09-03 · neeraj...

NEERAJPAPERMARKETINGLTD.

24thAnnualReport2019

LET’S GROW TOGETHER

24th Annual Report 2018-19

NPMLAn ISO 9001 : 2008 Company

NEERAJ PAPER MARKETING LTD


24thAnnualReport2019 1

Contents

Notice ...........................................................

Director’s Report ..........................................

MDAR & Annexure to Director’s Report ....

Corporate Governance Report ......................

Auditor’s Report (Standalone) ......................

Balance Sheet (Standalone) ...........................

P&L Account (Standalone) ...........................

Cash Flow Statement (Standalone) ...............

Notes on Accounts (Standalone) ...................

Proxy Form & Attendance ............................

Route Map for Venue 24th AGM .................

MANAGEMENT

BOARDOFDIRECTORSMr.DeepakGoel -- WholetimeDirectorMr.PraveenKumarGoel -- WholetimeDirectorMr.AmitAgarwal -- Non-ExecutiveDirectorMr.ShubhakarPathak -- IndependentDirectorMr.AnkurSangal -- IndependentDirectorMs.Sonal -- IndependentDirector

COMPANYSECRETARYMs.MansiTaneja

CHIEFFINANCIALOFFICERMr.VipinKumarGoel

STATUTORYAUDITOR

M/s.RajeevSingal&Co.CharteredAccountantsMuzaffarnagar

BANKERS:

OrientalBankofCommerce EBlock,HarshaBhawan,ConnaughtPlaceDelhi-110001

REGISTRAR&SHARETRANSFERAGENTBeetalFinancial&ComputerServicesLtd.

rdBeetalHouse,3 Floor,99,MadangirNearDadaHarsukhdasMandir

NewDelhi-110062

CORPORATEIDENTIFICATIONNUMBER:L74899DL1995PLC066194


24thAnnualReport2019

INDEX

v

v

v

v

v

v

v

v

v

v

v

Page

2-17

18-25

26-43

44-67

68-76

77

78-79

80

81-105

106-108

109



NOTICE

thNoticeisherebygiventhatthe24 AnnualGeneralMeetingoftheShareholdersoftheCompanywillbeheldonthMonday, 30 September, 2019atBipinChandraPalMemorialBhavan,A-81, ChittaranjanPark,NewDelhi-

110019at11.00A.M.totransactthefollowingbusinesses:

ORDINARYBUSINESS:

1. ToconsiderandadopttheAuditedBalanceSheetason31.03.2019andtheProfit&LossAccountfortheyearended31.03.2019togetherwiththeReportsofDirectors&Auditorsthereon.

2. ToappointaDirectorinplaceofMr.AmitAgarwal(DIN01336763),whoretiresbyrotationatthismeetingandbeingeligible,offerhimselfforreappointment.

SPECIALBUSINESS:

3. AppointmentofMs.NehaAgarwalasaNon-ExecutiveIndependentDirectoroftheCompany

Toconsiderandifthoughtfit,topass,thefollowingresolutionasaSpecialResolution:

“RESOLVED THAT pursuant to the provisions of Sections 149 and 152 readwith Schedule IV and otherapplicableprovisions, ifany,of theCompaniesAct,2013(“theAct”)andtheCompanies(AppointmentandQualificationofDirectors)Rules,2014asamended fromtime to timeand theapplicableprovisionsof theSecuritiesandExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015(''ListingRegulations'')(includinganystatutorymodification(s)orre-enactment(s)thereof,forthetimebeinginforce),Ms.NehaAgarwal(DIN:07143026),whomeetsthecriteriaforindependenceasspecifiedinSection149(6)oftheActandRegulation16(1)(b)ofListingRegulationsandhassubmittedadeclarationtothateffectandeligiblefortheappointment,beandisherebyappointedasaNon-ExecutiveIndependentDirectorofthe

thCompany,notliabletoretirebyrotation,toholdofficeforatermoffiveconsecutiveyearsw.e.f.30 September,th2019to29 September,2024.”

4. AppointmentofMs.PoojaBhardwajasaNon-ExecutiveIndependentDirectoroftheCompany


“RESOLVED THAT pursuant to the provisions of Sections 149 and 152 readwith Schedule IV and otherapplicableprovisions, ifany,of theCompaniesAct,2013(“theAct”)andtheCompanies(AppointmentandQualificationofDirectors)Rules,2014asamended fromtime to timeand theapplicableprovisionsof theSecuritiesandExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015(''ListingRegulations'')(includinganystatutorymodification(s)orre-enactment(s)thereof,forthetimebeinginforce),Ms.PoojaBhardwaj(DIN:05158206),whomeetsthecriteriaforindependenceasspecifiedinSection149(6)oftheActandRegulation16(1)(b)ofListingRegulationsandhassubmittedadeclarationtothateffectandeligiblefortheappointment,beandisherebyappointedasaNon-ExecutiveIndependentDirectorofthe

thCompany,notliabletoretirebyrotation,toholdofficeforatermoffiveconsecutiveyearsw.e.f.30 September,th2019to29 September,2024.”

5. Re-appointmentofMr.AnkurSangalasaNon-ExecutiveIndependentDirectoroftheCompany


“RESOLVED THAT pursuant to the provisions of Sections 149 and 152 readwith Schedule IV and otherapplicableprovisions, ifany,of theCompaniesAct,2013(“theAct”)andtheCompanies(AppointmentandQualification ofDirectors)Rules,2014 as amended from time to time and the applicable provisions of the



SecuritiesandExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015(''ListingRegulations'')(includinganystatutorymodification(s)orre-enactment(s)thereof,forthetimebeinginforce),Mr.AnkurSangal(DIN:01095679),whowasappointedasanIndependentDirectoroftheCompanyatthe

th thAnnualGeneralMeetingheldon30 September,2014andwhoholdsofficeasanIndependentDirectorupto29 September,2019andwhomeetsthecriteriaforindependenceasspecifiedinSection149(6)oftheActandRegulation16(1)(b)ofListingRegulationsandhassubmittedadeclarationtothateffectandeligibleforthere-appointment,beandisherebyre-appointedasaNon-ExecutiveIndependentDirectoroftheCompany,notliable

th thtoretirebyrotation,toholdofficeforasecondtermoffiveconsecutiveyearsw.e.f.30 September,2019to29 September,2024.”

6. ReappointmentofMr.DeepakGoel(DIN00200527)asWholeTimeDirectorofthecompany

Toconsiderandifthoughtfit,topasswithorwithoutmodification(s),thefollowingResolutionasaSpecialResolution:

“RESOLVEDTHATpursuanttotheprovisionsofSections196,197,203readwithScheduleVandallotherapplicable provisions of the Companies Act, 2013 and Companies (Appointment and Remuneration ofManagerialPersonnel)Rules,2014(includinganystatutorymodification(s)orre-enactmentthereofforthetimebeinginforce,approvaloftheCompanybeandisherebyaccordedtothere-appointmentofShriDeepakGoel

th(DIN00200527)asWholeTimeDirectoroftheCompany,foraperiodof3(Three)yearswitheffectfrom13 August2019,onthetermsandconditionsincludingremunerationassetoutintheresolution:

RESOLVEDFURTHERTHATreappointmentofShriDeepakGoel,shallnotbesubjecttoretirementbyrotationduringhistenureasWholeTimeDirector.

RESOLVEDFURTHERTHATMr.DeepakGoel shall be paid salary of Rs. 1,50,000/- (RupeesOne Lac FiftyThousand only) permonth;maximumuptoRs. 5,00,000/- ( Rupees Five LacsOnly) permonth asmay bedeterminedbytheBoardofDirectorsofthecompanyfromtimetotimewithintheoverallceilingprescribedunderScheduleVoftheCompaniesAct,2013.

RESOLVEDFURTHERTHATthesaidremunerationbepaid/extendedtoMr.DeepakGoel,WholeTimeDirectoras minimum remuneration in the event of there being loss or inadequacy of profits; provided that theremuneration shall bewithin theoverall ceilingprescribedunder Section II ofPart II of ScheduleVof theCompaniesAct,2013.

RESOLVEDFURTHERTHATtheBoardbeandisherebyauthorisedtodoallsuchacts,deeds,mattersandthingsandtakeallsuchstepsasmaybenecessary,properorexpedienttogiveeffecttothisresolution.”

7. ReappointmentofMr.PraveenKumarGoel(DIN00014638)asWholeTimeDirectorofthecompany

Toconsiderandifthoughtfit,topasswithorwithoutmodification(s),thefollowingResolutionasaSpecialResolution:

“RESOLVEDTHATpursuanttotheprovisionsofSections196,197,203readwithScheduleVandallotherapplicable provisions of the Companies Act, 2013 and Companies (Appointment and Remuneration ofManagerialPersonnel)Rules,2014(includinganystatutorymodification(s)orre-enactmentthereofforthetimebeinginforce,approvaloftheCompanybeandisherebyaccordedtothere-appointmentofShriPraveenKumar

thGoel(DIN00014638)asWholeTimeDirectoroftheCompany,foraperiodof3(Three)yearswitheffectfrom13 August2019,onthetermsandconditionsincludingremunerationassetoutintheresolution:

RESOLVEDFURTHERTHAT reappointmentofShriPraveenKumarGoel, shallbesubject toretirementbyrotationduringhistenureasWholeTimeDirector.

RESOLVEDFURTHERTHATMr.PraveenKumarGoelshallbepaidsalaryofRs.150,000/-(RupeesOneLacFiftyThousand only) permonth;maximumuptoRs. 5,00,000/- ( Rupees Five LacsOnly) permonth asmay be



determinedbytheBoardofDirectorsofthecompanyfromtimetotimewithintheoverallceilingprescribedunderScheduleVoftheCompaniesAct,2013.

RESOLVEDFURTHERTHATthesaidremunerationbepaid/extendedtoMr.PraveenKumarGoel,WholeTimeDirectorasminimumremunerationintheeventoftherebeinglossorinadequacyofprofits;providedthattheremuneration shall bewithin theoverall ceilingprescribedunder Section II ofPart II of ScheduleVof theCompaniesAct,2013.

RESOLVEDFURTHERTHATtheBoardbeandisherebyauthorisedtodoallsuchacts,deeds,mattersandthingsandtakeallsuchstepsasmaybenecessary,properorexpedienttogiveeffecttothisresolution.”

ByOrderoftheBoardForNEERAJPAPERMARKETINGLIMITED

Sd/-MANSI

(COMPANYSECRETARY)

THDATED:13 AUGUST2019

PLACE:DELHI



EXPLANATORYSTATEMENTINRESPECTOFTHESPECIALBUSINESSPURSUANTTOTHESECTION102OFTHE

COMPANIESACT,2013

ITEMNO.3&4

Mr.ShubhakarPathakandMs.SonalwhowereappointedasIndependentDirectorsoftheCompanyforthetermoffiveth thconsecutiveyearswitheffectfrom30 September2014.Thesaidtermwillbecompletedon30 September2019,and

theyhaveexpressedtheirinabilitytocontinueasIndependentDirectorfortheSecondterm.

PursuanttotheprovisionsofSection149oftheCompaniesAct,2013(“theAct”)readwiththeArticlesofAssociationof

theCompany andpursuant to the recommendationof theNomination andRemunerationCommittee, theBoardofthDirectorsoftheCompanyattheirmeetingheldon13 August2019approveandrecommendtheappointmentofMs.Neha

Agarwal(DIN:07143026) 05158206andMs.PoojaBhardwaj(DIN: )astheNon-ExecutiveIndependentDirectorofthe

CompanytoholdofficeasaNon-ExecutiveIndependentDirectoroftheCompanyforafirsttermoffiveconsecutiveyears

w.e.f th th30 September,2019to29 September,2024.”

Thebriefprofileandotherdetailsof Ms.PoojaBhardwajrequiredasperRegulation36(2)oftheMs.NehaAgarwaland

ListingRegulationsandSecretarialStandard-2areprovidedinAnnexuretothisNotice.

TheCompanyhasreceiveddeclarationofindependencefromtheproposeddirectorsconfirmingthattheymetthecriteria

ofindependenceasspecifiedinSection149(6)oftheActandRegulation16(1)(b)theListingRegulationsandthatthey

arenotawareofanycircumstanceorsituation,whichexistormaybereasonablyanticipated,thatcouldimpairorimpact

theirabilitytodischargedutieswithanobjectiveindependentjudgmentandwithoutanyexternalinfluence.TheBoard

afterassessingveracityofthesameisoftheopinionthattheyfulfillstheconditionsforappointmentasanIndependent

DirectorasspecifiedintheCompaniesAct,2013andRulesmadethereunderandtheListingRegulationsandtheyare

independentofthemanagement.Further, andMs.PoojaBhardwajarenotdisqualifiedtoactasDirectorMs.NehaAgarwal

oftheCompany.TheyhadalsogivenadeclarationthattheyarenotdebarredfromholdingtheofficeofDirectorbyvirtue

ofanySEBIorderoranyothersuchauthority.

The letters of appointment of both setting out the terms and conditions of the said appointment are available for

inspectionattheRegisteredOfficeoftheCompanyonalldaysexceptSundaysorPublicholidaysbetween2.00p.m.to4.00

p.m.uptothedateoftheAGMandalsoattheAGM.

Pursuant to theprovisionsofSection149of theAct readwithSchedule IVof theAct,appointmentof Independent

DirectorsshallbeapprovedbythemembersoftheCompany.

TheBoardrecommendstheSpecialResolutionsetoutinItemNo.3&4oftheNotice,forapprovalofthemembersofthe

Company.

NoneoftheDirectorsandKeyManagerialPersonneloftheCompanyandtheirrelatives,excepttheappointeesandtheir

relativesareconcernedorinterested,financiallyorotherwise,inthesaidresolution.

ITEMNO.5

AttheAnnualGeneralMeeting(AGM)heldon30thSeptember,2014,Mr.AnkurSangal(DIN:01095679 wasappointedas),

aNon-ExecutiveIndependentDirectoroftheCompanyforafirsttermof5consecutiveyearsi.e.upto29thSeptember,

2019.

Mr.AnkurSangalisassociatedwiththeCompanyfrompasteightyearsasDirectoroftheCompany.Heparticipatesin



various discussions and provides his valuable suggestions to the Board and promotes effective participation of all

Directorsinthemeetings.Hisrichknowledge,skills,wideexperienceandcontributionshaveimmenselybenefitedthe

Company.

Mr.AnkurSangal,aged38years,isfitandcapableofdischarginghisdutiesasIndependentDirectoroftheCompany.

Consideringall theaforesaid factorsandon thebasisof reportofperformanceevaluationofMr.AnkurSangal, the

NominationandRemunerationCommitteerecommendedtotheBoardthathiscontinuedassociationwillimmensely

benefittheCompany.PursuanttotherecommendationofNRCandreportofperformanceevaluationandinordertoreapthbenefitsofhisrichandvariedexperience,theBoardatitsmeetingheldon13 August2019approvedandrecommended

re-appointmentofMr.AnkurSangal(DIN:01095679),asaNon-ExecutiveIndependentDirectoroftheCompanyfora

secondtermoffiveconsecutiveyearswitheffectfrom30thSeptember,2019to29thSeptember,2024.

Mr.AnkurSangalhasgivenconsentforthesaidre-appointmentandheisnotdisqualifiedfrombeingre-appointedasa

directorof theCompanyunderSection164of theCompaniesAct,2013(''Act'').Further, theCompanyhasreceived

declarationofindependencefromMr.AnkurSangalconfirmingthathemeetsthecriteriaofindependenceasspecifiedin

Section 149 (6) of the Act and Regulation 16 (1) (b) of SEBI (Listing Obligations and Disclosure Requirements)

Regulations,2015(''ListingRegulations'')andthatheisnotawareofanycircumstanceorsituation,whichexistormaybe

reasonablyanticipated,thatcouldimpairorimpacthisabilitytodischargehisdutieswithanobjectiveindependent

judgmentandwithoutanyexternalinfluence.

TheBoardafterassessingveracityofthesameisoftheopinionthathefulfillstheconditionsforappointmentasan

IndependentDirectorasspecifiedintheCompaniesAct,2013andrulesmadethereunderandtheListingRegulationsand

heisindependentofthemanagement.Mr.AnkurSangalhasalsogivenadeclarationthatheisnotdebarredfromholding

theofficeofDirectorbyvirtueofanySEBIorderoranyothersuchauthority.

ThedetailsofMr.AnkurSangalrequiredunderRegulation36(2)oftheListingRegulationsandSecretarialStandard-2are

providedinAnnexuretotheNotice.Thedraftletterofre-appointmentofMr.AnkurSangalsettingoutthetermsand

conditionsofthesaidre-appointmentisavailableforinspectionattheRegisteredOfficeoftheCompanyonalldaysexcept

SundaysorPublicholidaysbetween2.00p.m.to4.00p.m.uptothedateoftheAGMandalsoattheAGM.

PursuanttotheprovisionsofSection149(10)oftheAct,anindependentdirectorshallholdofficeforatermuptofive

consecutiveyearsontheBoardofacompany,butshallbeeligibleforre-appointmentonpassingofaspecialresolutionby

thecompany.

TheBoardofDirectorsrecommendstheresolutionassetoutinItemNo.5oftheNoticeforapprovalofmembersofthe

CompanybywayofSpecialResolutionaspertherequirementofCompaniesAct,2013.

NoneoftheDirectorsandKeyManagerialPersonneloftheCompanyandtheirrelativesexceptMr.AnkurSangalandhis

relativesareconcernedorinterested,financiallyorotherwise,inthesaidresolution.

ITEMNO.6

Mr.DeepakGoelistheDirectoroftheCompanyandholdingthepositionofdirectorsinceincorporationinthecompany.

HeisholdingthepositionofWholetimedirectorofthecompanysince2008.Heishavingextensiveexperienceinareaof

Finance,Accounts,generalmanagementandoperationalaspectsoftheCompany.Consideringhiscontributiontothethgrowthofthecompany,theBoardofDirectorsintheirmeetingheldon13 August2019,ontherecommendationofthe

Nomination&RemunerationCommittee,recommendthere-appointmentofMr.DeepakGoelasWholeTimeDirectorofththeCompany,foraperiodof3(Three)yearswitheffectfrom13 August2019,onthetermsandconditionsincluding

remunerationassetoutintheresolutionwithintheoveralllimitslaiddownunderScheduleVoftheCompaniesAct,2013.

AsrequiredundertheAct,furtherparticularspertainingtotheCompanyandtheappointeearesetouthereinafter.



(INRinLacs) 31.03.2018 31.03.2017NetSale/IncomefromOperations 32858.26 37242.10

OtherIncome 38.70 22.66

TotalExpenditure 32727.62 37151.36ProfitbeforeFinanceCharges&Depreciation

1122.70 1080.97

FinanceCharges 931.10 940.92Depreciation&Amortization 32.26 26.55ProfitBeforeTaxafterexceptionalitems (157.25) 113.40ProvisionforTax 52.70 38.43ProfitAfterTax (209.95) 74.97Paid-UpShareCapital 1100 1100Reserve&Surplus 1311.63 1529.59

I.GeneralInformation

(a)NatureofIndustry

AtpresentthecompanyisengagedinsaleofpaperoncommissionbasisandintradingbusinessofpaperandSteel.The

companyisdealingintradingbusinessofdifferenttypesofpapersuchasKraftPaper,DuplexBoard,PosterPaper,

writingprintingpaperetc.

(b)Dateorexpecteddateofcommencementofcommercialproduction

Thecompanycommencedbusinesson13.04.1995

(c)Incaseofnewcompanies,expecteddateofcommencementofactivitiesasperprojectapprovedbyfinancial

institutionsappearingintheprospectus.

Notapplicable

(d)Financialperformancebasedonthegivenindicators.

Pastperformanceoflasttwoyearsaregivenbelow:

(f)ForeignInvestmentsorcollaboratorsifany:

NotApplicable

II.Informationabouttheappointees

Mr.DeepakGoel

(a)NatureofExpertise

Mr.DeepakGoelhasgoodmarketingaswellasadministrativeskill.Heisactivelyengagedintherunningofexisting

business of the company since a long time. He has extensive experience in area of Finance, Accounts, general

managementandoperationalaspects

(b)PastRemuneration

TheremunerationdrawnbyMr.DeepakGoelastheWholeTimeDirectoroftheCompanyduringthefinancialyearstended31 March,2019,hasbeenmentionedintheReportofBoardofDirectorsonCorporateGovernance.



(c)Recognitionorawards

None

(d)Jobprofileandhissuitability:

Subjecttothesuperintendence,controlanddirectionoftheBoard,Mr.DeepakGoelwillmanageandsuperintendthe

businessaffairsandpropertiesoftheCompanyanddoallsuchlawfulactsandthingsinrelationtosuchmanagement

andsuperintendenceasheshallthinkfitandreasonable.

(e)Remunerationproposed

AsmentionedinResolution.

(f)ComparativeRemunerationprofilewithrespecttoindustry,sizeoftheCompany,profileofthepositionand

person(incaseofexpatriatestherelevantdetailswouldbew.r.t.thecountryofOrigin.)

TheremunerationstructureofMr.DeepakGoelisnothigherthanwhatisdrawnbyhispeersincomparableCompanies.

(g) Pecuniary relationship directly or indirectly with the Company, or relationship with the managerial

personnel,ifany;

Mr.DeepakGoelbeingapromoterwillnotbeentitledtoremunerationunderanyotherhead.Heisnotrelatedtoany

otherdirectorintheCompany.

(h)OtherListedEntiiesinwhichheholdsdirectorshipandmembershipinCommitteesofBoard

None

III.OtherInformation:(i)ReasonofLossorinadequateprofit

SincetheCompanyisengagedintradingofpaperandpaperproductsandduetomarketvariationstheprofitsofthecompanyarenotadequatetopaytheremunerationtotheDirectorsasperstandards.

(ii)StepstakenorproposedtobetakenforimprovementThecompanyisveryconfidenttocontinuetoachieveasustainedgoodperformanceandadequateprofitsintheyearsaheadandcontinuouslytryingtoincreaseproductivitybycapturingnewmarkets.

(iii)ExpectedincreaseinproductivityandprofitsinmeasurabletermsTheCompanyhasbeenabletoachievesignificantincreaseinproductivityinitsbusiness,asevidencedbysignificantgrowthinall itsproductstrading.Basedupontheexpectedgrowthinthepaperbusiness, theCompanyisconfidentofreportingpositiveresultsgoingforward.ProductivityandprofitsoftheCompanyareexpectedtoincreaseby10%inthecomingyears.

Disclosures

(a)TheremunerationpackageofMr.DeepakGoelhasalreadybeenmentionedintheresolution.

(b)ThenecessarydisclosuresasrequiredundertheActhavealreadybeenmadeintheReportoftheBoardofDirectors

onCorporateGovernance.

TheBoardconsidersthathavingregardtothesignificantcontributionofMr.DeepakGoeltowardsremarkablegrowthof

operationalactivitiesoftheCompanyduringhiscurrenttenure,theappointmentofMr.DeepakGoelasWholetime

DirectoroftheCompanyforafurtherperiodofthreeyearsisfullyjustified.AssuchtheBoardcommendstheSpecial

Resolutionsetoutinitem6oftheNoticeconveningthemeetingfortheapprovaloftheShareholders.

Except theappointee,nootherDirector/KeyManagerialpersonnelnoranyrelativeofDirectororKeyManagerial



(INRinLacs) 31.03.2018 31.03.2017NetSale/IncomefromOperations 32858.26 37242.10OtherIncome 38.70 22.66

TotalExpenditure 32727.62 37151.36ProfitbeforeFinanceCharges&Depreciation

1122.70 1080.97

FinanceCharges 931.10 940.92Depreciation&Amortization 32.26 26.55ProfitBeforeTaxafterexceptionalitems (157.25) 113.40ProvisionforTax 52.70 38.43ProfitAfterTax (209.95) 74.97Paid-UpShareCapital 1100 1100Reserve&Surplus 1311.63 1529.59

Personnelhaveanyconcernorinterestinthesaidresolution.

ITEMNO.7

Mr.PraveenKumarGoelistheDirectoroftheCompanyandholdingthepositionofdirectorsinceincorporationinthe

company.HeisholdingthepositionofWholetimedirectorofthecompanysince2008.Heishavingextensiveexperience

inareaofMarketingbusinessoftheCompany.Consideringhiscontributiontothegrowthofthecompany,theBoardofthDirectors in theirmeetingheldon13 August2019, on the recommendationof theNomination&Remuneration

Committee,recommendthere-appointmentofMr.PraveenKumarGoelasWholeTimeDirectoroftheCompany,forathperiodof3(Three)yearswitheffectfrom13 August2019,onthetermsandconditionsincludingremunerationasset

outintheresolutionwithintheoveralllimitslaiddownunderScheduleVoftheCompaniesAct,2013.

AsrequiredundertheAct,furtherparticularspertainingtotheCompanyandtheappointeearesetouthereinafter.

I.GeneralInformation

(a)NatureofIndustry

AtpresentthecompanyisengagedinsaleofpaperoncommissionbasisandintradingbusinessofpaperandSteel.The

companyisdealingintradingbusinessofdifferenttypesofpapersuchasKraftPaper,DuplexBoard,PosterPaper,

writingprintingpaperetc.

(b)Dateorexpecteddateofcommencementofcommercialproduction

Thecompanycommencedbusinesson13.04.1995

(c)Incaseofnewcompanies,expecteddateofcommencementofactivitiesasperprojectapprovedbyfinancial

institutionsappearingintheprospectus.

Notapplicable

(d)Financialperformancebasedonthegivenindicators.

Pastperformanceoflasttwoyearsaregivenbelow:

(f)ForeignInvestmentsorcollaboratorsifany:

NotApplicable



II.Informationabouttheappointees

Mr.PraveenKumarGoel

(a)NatureofExpertiseMr.PraveenKumarGoelhasgoodmarketingaswellasadministrativeskill.Heisactivelyengagedinthemarketingbusinessofthecompanysincealongtime.Heisrunningofthisbusinessefficientlysincealongtime.Hehasgoodexperienceinthefieldofmarketingbusiness.

(b)PastRemuneration

TheremunerationdrawnbyMr.PraveenKumarGoelastheWholeTimeDirectoroftheCompanyduringthefinancialstyearended31 March,2019,hasbeenmentionedintheReportofBoardofDirectorsonCorporateGovernance.

(c)Recognitionorawards

None

(d)Jobprofileandhissuitability:

Subject to the superintendence, control and direction of the Board, Mr. Praveen Kumar Goel will manage and

superintendthebusinessaffairsandpropertiesoftheCompanyanddoallsuchlawfulactsandthingsinrelationtosuch

managementandsuperintendenceasheshallthinkfitandreasonable.

(e)Remunerationproposed

AsmentionedinResolution.

(f)ComparativeRemunerationprofilewithrespecttoindustry,sizeoftheCompany,profileofthepositionand

person(incaseofexpatriatestherelevantdetailswouldbew.r.t.thecountryofOrigin.)

TheremunerationstructureofMr.PraveenKumarGoelisnothigherthanwhatisdrawnbyhispeersincomparable

Companies.

(g) Pecuniary relationship directly or indirectly with the Company, or relationship with the managerial

personnel,ifany;

Mr.PraveenKumarGoelbeingapromoterwillnotbeentitledtoremunerationunderanyotherhead.Heisnotrelatedto

anydirectorinthecompany.

(h)OtherListedEntiiesinwhichheholdsdirectorshipandmembershipinCommitteesofBoard

None

III.OtherInformation:(i) ReasonofLossorinadequateprofit

SincetheCompanyisengagedintradingofpaperandpaperproductsandduetomarketvariationstheprofitsofthecompanyarenotadequatetopaytheremunerationtotheDirectorsasperstandards.

(ii)StepstakenorproposedtobetakenforimprovementThecompanyisveryconfidenttocontinuetoachieveasustainedgoodperformanceandadequateprofitsintheyearsaheadandcontinuouslytryingtoincreaseproductivitybycapturingnewmarkets.

(iii)ExpectedincreaseinproductivityandprofitsinmeasurabletermsTheCompanyhasbeenabletoachievesignificantincreaseinproductivityinitsbusiness,asevidencedbysignificantgrowthinall itsproductstrading.Basedupontheexpectedgrowthinthepaperbusiness, theCompanyisconfidentofreportingpositiveresultsgoingforward.



ProductivityandprofitsoftheCompanyareexpectedtoincreaseby10%inthecomingyears.

Disclosures

(a)TheremunerationpackageofMr.PraveenKumarGoelhasalreadybeenmentionedintheresolution.

(b)ThenecessarydisclosuresasrequiredundertheActhavealreadybeenmadeintheReportoftheBoardofDirectors

onCorporateGovernance.

TheBoardconsidersthathavingregardtothesignificantcontributionofMr.PraveenKumarGoeltowardsremarkable

growthofoperationalactivitiesoftheCompanyduringhiscurrenttenure,theappointmentofMr.PraveenKumarGoel

asWholetimeDirectoroftheCompanyforafurtherperiodofthreeyearsisfullyjustified.AssuchtheBoardcommends

theSpecialResolutionsetoutinitem8oftheNoticeconveningthemeetingfortheapprovaloftheShareholders.

Except theappointee,nootherDirector/KeyManagerialpersonneloranyrelativeofDirectororKeyManangerial

Personnelhaveanyconcernorinterestinthesaidresolution.NoneofthepersonsspecifiedinSection102oftheCompaniesAct,2013,viz.,theDirectors,Manager,KeyManagerialPersonnel(s)andtheirrelativesareconcernedorinterestedintheaboveresolution.

IMPORTANTNOTES:

1. AMEMBERENTITLEDTOATTENDANDVOTEATTHEMEETINGISENTITLEDTOAPPOINTAPROXY/PROXIESTOATTENDANDVOTEINSTEADOFHIMSELF/HERSELF.SUCHAPROXY/PROXIESNEEDNOTBE A MEMBER OF THE COMPANY. A PERSON CAN ACT AS PROXY ONBEHALF OF MEMBERS NOTEXCEEDINGFIFTY(50)ANDHOLDINGINTHEAGGREGATENOTMORETHANTENPERCENT(10%)OFTHETOTALSHARECAPITALOFTHECOMPANY.

2. TheinstrumentofProxyinordertobeeffective,shouldbedepositedattheRegisteredOfficeoftheCompany,dulycompletedandsigned,notlessthan48hoursbeforethecommencementofthemeeting.AProxyformissent herewith. Proxies submitted on behalf of the companies, societies etc. must be supported by anappropriateresolution/authority,asapplicable.

3. The Securities and Exchange Board of India (SEBI) hasmandated the submission of Permanent AccountNumber (PAN)by everyparticipant in securitiesmarket.Membersholding shares in electronic formare,therefore,requestedtosubmitthePANtotheirDepositoryParticipantswithwhomtheyaremaintainingtheirdemataccounts.MembersholdingsharesinphysicalformcansubmittheirPANdetailstotheCompany.

4. DetailsunderListingRegulationsandRevisedSecretarialStandards-2onGeneralMeetings,inrespectoftheDirectors seekingappointment/re-appointmentat theAnnualGeneralMeeting, forms integralpartof thenotice.TheDirectorshavefurnishedtherequisitedeclarationsfortheirappointment/re-appointment.

5. ElectroniccopyoftheAnnualReportforFinancialYear2018-19isbeingsenttoallthememberswhoseemailIDs are registeredwith the Company/Depository Participants(s) for communication purposes unless anymemberhasrequestedforahardcopyofthesame.Formemberswhohavenotregisteredtheiremailaddress,physicalcopiesoftheAnnualReportforFinancialYear2018-19isbeingsentinthepermittedmode.

th6. ElectroniccopyoftheNoticeofthe24 AnnualGeneralMeetingoftheCompanyinteraliaindicatingtheprocessandmannerofe-votingalongwithAttendanceSlipandProxyFormisbeingsenttoallthememberswhoseemailIDsareregisteredwiththeCompany/DepositoryParticipants(s)forcommunicationpurposesunlessanymemberhasrequestedforahardcopyofthesame.Formemberswhohavenotregisteredtheiremail

thaddress,physicalcopiesofthenoticeofthe24 AnnualGeneralMeetingoftheCompanyinteraliaindicatingtheprocessandmannerofe-votingalongwithAttendanceSlipandProxyFormisbeingsentinthepermittedmode.

th7. MembersmayalsonotethattheNoticeofthe24 AnnualGeneralMeetingandtheAnnualReportforFinancialYear2018-19willalsobeavailableontheCompany'swebsite fortheirdownload.Thewww.neerajpaper.com

http://www.neerajpaper.com



physicalcopiesoftheaforesaiddocumentswillalsobeavailableattheCompany'sRegisteredOfficeinNewDelhi for inspection during normal business hours on working days. Even after registering for e-communication,membersareentitledtoreceivesuchcommunicationinphysicalform,uponmakingarequestforthesame,bypostfreeofcost.

8. TheRegisterofMembersandShareTransferRegisterswillremainclosedfrom23.09.2019to30.09.2019(Bothdaysinclusive).

9. BeetalFinancialandComputerServicesLimitedistheRegistrarandShareTransferAgentofthecompanyforbothphysicalandelectronicformofshareholdings.Allcommunicationsrelatingtosharesshouldbedirectlyaddressedto:

BeetalFinancial&ComputerServicesLtd.rdBeetalHouse,3 Floor,99,Madangir

NearDadaHarsukhdasMandirNewDelhi-110062

10. AlldocumentsreferredtointheaccompanyingNoticeareopenforinspectionattheregisteredofficeoftheCompanyduringbusinesshoursonalltheworkingdaysbetween11:00A.Mand1:00P.MuptothedateoftheMeeting.

11. TheMinistryofCompanyAffairshastakena“GreenInitiativeinCorporateGovernance”byallowingpaperlesscompliancebyCompaniesthroughelectronicmode.Weproposetosendfuturecommunication,inelectronicmodetothee-mailaddressprovidedbyyou.So,Shareholderswhosee–mailaddressisnotregisteredwithusarerequestedtopleasegetyouremailaddressregisteredwithus,sothatyourCompanycancontributetothesafetyofenvironment.

12. RegisterofDirectorsandKeyManagerialPersonnelandtheirshareholdingmaintainedunderSection170ofCompaniesAct,2013andRegisterofContractsorarrangementsinwhichdirectorsareinterestedmaintainedunderSection189oftheCompaniesAct,2013willbeavailableforinspectionbythemembersattheAnnualGeneralMeeting.

13. Votingthroughelectronicmeans

a. IncompliancewithprovisionsofSection108oftheCompaniesAct,2013andRule20oftheCompanies(ManagementandAdministration)Rules,2014,theCompanyispleasedtoprovidemembersfacilityto

thexercisetheirright tovoteat the24 AnnualGeneralMeeting(AGM)byelectronicmeansandthebusinessmaybetransactedthroughe-VotingServicesprovidedbyCentralDepositoryServices(India)Ltd.

b. Theinstructionsfore-votingareasunder:

E–VotingInstructions:-

Theinstructionsforshareholdersvotingelectronicallyareasunder:th th(i) Thevotingperiodbeginson27 September,2019at10.00A.Mandendson29 September,2019at5.00P.M.

Duringthisperiod,shareholdersoftheCompany,holdingshareseitherinphysicalformorindematerializedrdform,asonthecut-offdate(recorddate)of23 September,2019,maycasttheirvoteelectronically.Thee-

votingmoduleshallbedisabledbyCDSLforvotingthereafter.

(ii) Theshareholdersshouldlogontothee-votingwebsite .www.evotingindia.com

(iii) ClickonShareholders.

(iv) NowEnteryourUserID

a. ForCDSL:16digitsbeneficiaryID,

b. ForNSDL:8CharacterDPIDfollowedby8DigitsClientID,

c. MembersholdingsharesinPhysicalFormshouldenterFolioNumberregisteredwiththeCompany.

http://www.evotingindia.com



(v) NextentertheImageVerificationasdisplayedandClickonLogin.

(vi) Ifyouareholdingsharesindematformandhadloggedonto andvotedonanearlierwww.evotingindia.com

votingofanycompany,thenyourexistingpasswordistobeused.

(vii) Ifyouareafirsttimeuserfollowthestepsgivenbelow:

(viii) Afterenteringthesedetailsappropriately,clickon“SUBMIT”tab.

(ix) MembersholdingsharesinphysicalformwillthendirectlyreachtheCompanyselectionscreen.However,

membersholdingsharesindematformwillnowreach'PasswordCreation'menuwhereintheyarerequiredto

mandatorilyentertheirloginpasswordinthenewpasswordfield.Kindlynotethatthispasswordistobealso

usedbythedematholdersforvotingforresolutionsofanyothercompanyonwhichtheyareeligibletovote,

providedthatcompanyoptsfore-votingthroughCDSLplatform.Itisstronglyrecommendednottoshareyour

passwordwithanyotherpersonandtakeutmostcaretokeepyourpasswordconfidential.

(x) ForMembersholdingshares inphysical form,thedetailscanbeusedonly fore-votingontheresolutions

containedinthisNotice.

(xi) ClickontheEVSNfortherelevant<CompanyName>onwhichyouchoosetovote.

(xii) Onthevotingpage,youwillsee“RESOLUTIONDESCRIPTION”andagainstthesametheoption“YES/NO”for

voting.SelecttheoptionYESorNOasdesired.TheoptionYESimpliesthatyouassenttotheResolutionand

optionNOimpliesthatyoudissenttotheResolution.

(xiii) Clickonthe“RESOLUTIONSFILELINK”ifyouwishtoviewtheentireResolutiondetails.

(xiv) After selecting the resolutionyouhavedecided tovoteon, clickon “SUBMIT”.A confirmationboxwillbe

displayed.Ifyouwishtoconfirmyourvote,clickon“OK”,elsetochangeyourvote,clickon“CANCEL”and

ForMembersholdingsharesinDematFormandPhysicalForm

PAN

Enteryour10digitalpha-numeric*PANissuedbyIncomeTaxDepartment(Applicablefor

bothdematshareholdersaswellasphysicalshareholders)

· Members who have not updated their PAN with the Company/Depository

Participantarerequestedtousethefirsttwolettersoftheirnameandthe8digitsof

thesequencenumberinthePANfield.

· Incasethesequencenumberislessthan8digitsentertheapplicablenumberof

0'sbeforethenumberafterthefirsttwocharactersofthenameinCAPITAL

letters.Eg.IfyournameisRameshKumarwithsequencenumber1thenenter

RA00000001inthePANfield.

EntertheDividendBankDetailsorDateofBirth(indd/mm/yyyyformat)asrecordedinyour

demataccountorinthecompanyrecordsinordertologin.

· Ifboththedetailsarenotrecordedwiththedepositoryorcompanypleaseenterthe

member id / folio number in the Dividend Bank details field as mentioned in

instruction(iv).

Dividend

BankDetails

ORDate

ofBirth

(DOB)




accordinglymodifyyourvote.

(xv) Onceyou“CONFIRM”yourvoteontheresolution,youwillnotbeallowedtomodifyyourvote.

(xvi) Youcanalsotakeaprintofthevotescastbyclickingon“Clickheretoprint”optionontheVotingpage.

(xvii) IfademataccountholderhasforgottenthechangedpasswordthenEntertheUserIDandtheimageverification

codeandclickonForgotPassword&enterthedetailsaspromptedbythesystem.

(xviii) ShareholderscanalsocasttheirvoteusingCDSL'smobileappm-Votingavailableforandroidbased

mobiles.Them-VotingappcanbedownloadedfromGooglePlayStore.AppleandWindowsphoneusers

candownloadtheappfromtheAppStoreandtheWindowsPhoneStorerespectively.Pleasefollowthe

instructionsaspromptedbythemobileappwhilevotingonyourmobile.

(xix) NoteforNon–IndividualShareholdersandCustodians

· Non-Individualshareholders(i.e.otherthanIndividuals,HUF,NRIetc.)andCustodianarerequiredtologonto

www.evotingindia.comandregisterthemselvesasCorporates.

· A scanned copy of the Registration Form bearing the stamp and sign of the entity should be emailed to

[email protected].

· AfterreceivingthelogindetailsaComplianceUsershouldbecreatedusingtheadminloginandpassword.The

ComplianceUserwouldbeabletolinktheaccount(s)forwhichtheywishtovoteon.

· Thelistofaccountslinkedintheloginshouldbemailedtohelpdesk.evoting@cdslindia.comandonapprovalof

theaccountstheywouldbeabletocasttheirvote.

· AscannedcopyoftheBoardResolutionandPowerofAttorney(POA)whichtheyhaveissuedinfavourofthe

Custodian,ifany,shouldbeuploadedinPDFformatinthesystemforthescrutinizertoverifythesame.

(I) Anyperson,whoacquiressharesoftheCompanyandbecomeMemberoftheCompanyafterdispatchofrdtheNoticeandholdingsharesasonthecut-offdate i.e.23 September,2019mayfollowthesame

instructionsasmentionedabovefore-Voting.

(ii) In case you have any queries or issues regarding e-voting, you may refer the Frequently AskedQuestions(“FAQs”)ande-votingmanualavailableat ,underhelpsectionorwritewww.evotingindia.comanemailto [email protected]

(iii) Facilityforvotingbywayofpollingshallalsobemadeavailableatthemeetingandthemembersattendingthemeetingwhohavenotalreadycasttheirvotebye-votingshallbeabletoexercisetheirrightatthemeeting.

(XX) Mrs.ShaillyGoel,PracticingCompanysecretaryhasbeenappointedastheScrutinizertoscrutinizethee-votingprocessinafairandtransparentmanner.

(XXI) TheScrutinizershall,immediatelyaftertheconclusionofthevotingatthegeneralmeeting,firstcountthevotescastedattheMeetingandthereafterunblockthevotescastthroughremotee-Votingaswellasballotformsinthepresenceofatleasttwo(2)witnessesnotintheemploymentoftheCompanyandmakewithinaperiodnotexceedingthree(3)daysfromtheconclusionoftheAGM,aconsolidatedScrutinizer'sReportofthetotalvotescastinfavouroragainst,ifany,totheChairman,oranauthorized


mailto:[email protected]


mailto:[email protected]



personbyhim,oftheCompany.

(XXII) The Results shall be declared after receiving the Consolidated Scrutinizer's Report from theScrutinizer.TheresultdeclaredshallbeplacedontheCompany'swebsitewww.neerajpaper.comandonthewebsiteofCDSLandcommunicatedtotheStockExchanges.


Sd/-MANSI

(COMPANYSECRETARY)

THDATED:13 AUGUST2019

PLACE:DELHI



Annexure-DetailsofProposedDirectors

3≤ỳ . Øỳ Name of Directors Parveen Kumar Goel Deepak Goel Ankur Sangal

1 Director Identification Number (DIN) 00014638 00200527 01095679

2 Date of Birth 02.07.1963 28.06.1963 28.08.1981

3 Permanent Account Number (PAN) AEPPG5274B AATPG8581B BCMPS2380C

4 $ °¥• Ø¶ ! ∞∞Ø©Æ¥≠ • Æ¥ ØÆ ¥®• " Ø°≤§ 09/03/1995 09/03/1995 09/04/2011

5 Experience in specific functional area 29 Yrs 30 Yrs 13 Years

6 Expertise in specific functional area

Shri Praveen Kumar Goel, is well

experienced person. He has good

marketing skill. He is actively

engaged in the marketing business of

the company since a long time.

Shri Deepak Goel, is well experienced

person. He has extensive experience in

area of Finance, Accounts, General

Management and Operational Aspects.

Mr. Ankur Sangal is experienced

person having wide knowledge of

Accounts and Finance.

7No. of equity shares held in the

Company (as on 31st March, 2014)1,17,000 11,000 NIL

8 Qualification Graduate Graduate Master in Computer Application

9 List of other Directorships1. CORAL MINERALS PRIVATE

LIMITEDNIL 1. URS CERTIFICATION LIMITED

2.URS PRODUCTS AND TESTING

PRIVATE LIMITED

3.ALGI ASSESSMENT INDIA

PRIVATE LIMITED

4. URS INSPECTION (INDIA)

PRIVATE LIMITED

5. URS VERIFICATION PRIVATE

LIMITED

6. AGARWAL DUPLEX BOARD

MILLS LIMITED

10Membership/Chairman of Committees

of the other CompaniesNIL NIL

1. Chairman- Audit Committee-

Agarwal Duplex Board Mills Ltd

2. Member- Nomination and

Remuneration Committee- Agarwal

Duplex Board Mills Ltd

11Relationships, if any, between

Directors inter se- - -

Date of Appointment on the Board

Sr. No.



Amit Agarwal Pooja Bhardwaj Neha Agarwal

01336763 05158206 07143026

01.07.1973 16.10.1980 1/26/1988

ACCPA1463F ARUPK1321M BGOPA1745B

09/03/1995 30/09/2019 30/09/2019

17 Yrs 8 Yrs 5 yrs

Shri Amit Kumar, has good

marketing & administrative skill.

He is actively engaged in the

marketing business.

Ms. Pooja Bhardwaj,being a

Company Secretary has

legal and secretarial

experience having wide

knowledge of corporate

laws.

Ms Neha Agarwal is experienced

person having acounting and

technical knowledge

NIL NIL NIL

Graduate Company Secretary Master in Computer Application

1. BINDAL INDUSTRIES

LIMITED

1. Agarwal Duplex Board

Mills Ltd1. Tehri Pulp and Paper Limited

2. BINDAL ROLLING MILLS

LIMITED 2. Bindals Papers Mills Limited

3. BINDAL PULP AND

PAPERS PRIVATE LIMITED

4. BRINA GOPAL TRADERS

PVT. LTD.

5. SHAKUMBHRI PULP AND

PAPER MILLS LIMITED

NIL

Member- Nomination and

Remuneration Committee-

Agarwal Duplex Board

Mills Ltd

1.Member- Nomination and

Remuneration Committee and

Audit Committee- Bindals Papers

Mills Limited

2. Member- Nomination and

Remuneration Committee and

Audit Committee- Tehri Pulp and

Papers Limited

- - -

Sr. No. Name of Directors

1 Director Identification Number (DIN)

2 Date of Birth

3 Permanent Account Number (PAN)

4 Date of Appointment on the Board

5 Experience in specific functional area

6 Expertise in specific functional area

7No. of equity shares held in the Company (as on

31st March, 2014)

8 Qualification

9 List of other Directorships

10Membership/Chairman of Committees of the

other Companies

11 Relationships, if any, between Directors inter se



(INRinLacs) CURRENTYEAR PREVIOUSYEAR 31/03/2019 31/03/2018

NetSale/IncomefromOperations 25220.46 32858.26OtherIncome 13.30 28.70

TotalIncome 25233.76 32886.96ProfitbeforeFinanceCharges,Depreciation&Tax671.67 1122.70FinanceCharges 505.01 931.10

Depreciation 37.89 32.26ProfitBeforeTaxbeforeexceptionalitems 128.77 159.34Exceptionalitems 45.68 316.59ProfitBeforeTaxafterexceptionalitems 83.09 (157.25)ProvisionforTax 49.31 52.70ProfitAfterTax 33.78 (209.95)

BalanceofProfitBroughtForward 391.42 601.37Balanceavailableforappropriation 425.20 391.42ProposedDividendonequityshares - -TaxonproposedDividend - -TransfertoGeneralReserve - -Surpluscarriedtonextyear’saccount 425.20 391.42EarningPerShare(EPS)-BasicDiluted

0.31

-1.91-1.91

DIRECTORSREPORT

DearMembers,

thYourdirectorshavepleasureinpresentingyoutheir24 AnnualReportonthebusinessandoperationsofthecompanysttogetherwiththeAuditedFinancialStatementoftheCompanyfortheyearended31 March2019.

FINANCIALRESULTS(ASPERINDAS):

DIVIDEND:Ascompanyrequiredfundsforbusinessandgrowth,noDividendisrecommendedfortheyearunderreview.

TRANSFEROFUNCLAIMEDDIVIDENDTOINVESTOREDUCTIONANDPROTECTIONFUNDTheprovisionsofSection125(2)oftheCompaniesAct,2013donotapplyastherewasnodividenddeclaredandpaidlastyear.

OPERATIONALREVIEW:

TheTurnoverfortheFinancialYearendedon31/03/2019isRs.25,220.46LacsascomparedtoRs.32,858.26Lacslast

year.NetprofitofthecompanybeforeexceptionalitemsandtaxisRs.128.77Lacsascomparedto159.34Lacslastyear.

However,duringtheyearsomeexpendituresofexceptionalnaturehavearisen,whichisRs.45.68Lacsonaccountof

IncomeTaxliabilityandServiceTaxliabilityofearlieryears.Thecompanyisengagedinmarketingbusinessofvarietyof

paperlikeduplex,kraft,wastepaper,artpaper,posterpaperetc.Further,itisherebyinformedthatthecompanyhassatisfiedtheborrowingamountavailedfromtheBankofMaharashtra

thamountingtoRs.20Crandthesaidfacilitystandsclosedw.e.f.18 April2019.ThecompanyhasalsorepaidtheborrowingamountduetoBankofIndiaandhasappliedforNOC,howeveritisstillawaitedfromtheBank.

TheCompanyhastransferreditsentireholdingofequitysharesinassociatecompanies“BrinaGopalTradersPvtLtdandSwabhimanVyaparPvtLtd.Afterdisinvestment, thecompaniesno longerareassociatesofNeerajPaperMarketingLimited.

0.31



FUTUREPROSPECTS

Accordingtothe“IndiaPaper&PaperProductsMarketbyApplication,byRawMaterial,Competition,Forecast&

Opportunities,2024”, thedemandfordomesticpaperinIndiarosefrom9.4milliontonnesinFY08to15.4million

tonnesinFY16.Despitethecontinuousgrowthintheindustry,percapitapaperconsumptioninthecountrystandsata

littleover14kg,whichisstillwellbelowtheglobalaverageof57kgandconsiderablybelow200kginNorthAmerica.

TheIndianpaper&paperproductsmarketisprojectedtogrowfrom$8.6billionin2018to$13.4billionby2024,

exhibitingaCAGRof7.8%during2019-2024.Growingmanufacturingsector,requirementofbetterqualitypackagingof

FMCGproductsmarketedthroughorganizedretailandthedemandfortheupstreammarketofpaperproducts,suchas

tissuepaper,filterpaper,teabags,lightweightonlinecoatedpaperandmedicalgradecoatedpaperareexpectedtodrive

thepaper&paperproductsmarketinIndiaincomingyears.

MATERIAL CHANGESAND COMMITMENT IF ANYAFFECTINGTHE FINANCIAL POSITIONOF THE COMPANY

OCCURREDBETWEENTHEENDSOFTHEFINANCIALYEARTOWHICHTHESEFINANCIALSTATEMENTSRELATE

ANDTHEDATEOFTHEREPORT

NomaterialchangesandcommitmentsaffectingthefinancialpositionoftheCompanyoccurredbetweentheendsofthe

financialyeartowhichthesefinancialstatementsrelateonthedateofthisreport.

However,thecompanyhassatisfiedtheborrowingamountavailedfromtheBankofMaharashtraamountingtoRs.20Crthandthesaidfacilitystandsclosedw.e.f.18 April2019.

SIGNIFICANTANDMATERIALORDERSPASSEDBYTHEREGULATORSORCOURTSORTRIBUNALSIMPACTING

THEGOINGCONCERNSTATUSANDCOMPANY'SOPERATIONSINFUTURE

Therearenosignificantandmaterialorderspassedbytheregulatorsorcourtsortribunalsimpactingthegoingconcern

statusandcompany'soperationsinfuture.

INTERNALCONTROLSYSTEMSANDTHEIRADEQUACY

TheCompanyhasanInternalControlSystem,commensuratewiththesize,scaleandcomplexityofitsoperations.TheInternalAuditDepartmentmonitorsandevaluatestheefficacyandadequacyofinternalcontrolsystemintheCompany,itscompliancewithoperatingsystems,accountingproceduresandpoliciesatall locationsof theCompanyanditssubsidiaries. Based on the report of internal audit function, process owners undertake corrective action in theirrespectiveareasandtherebystrengthenthecontrols.

DEPOSITS

TheCompanyhasneitheracceptednorrenewedanydepositsduringtheyearunderreview.Howeverunsecuredloansfrompromoters/directorsorrelativesofpromoters havebeenreceivedinpursuanceofthestipulationoflendingbankduringthefinancialyear2018-19.DetailsofthesamehasbeenmentionedintheNoteNo.37inthefinancialstatement

AUDITORANDAUDITOR'SREPORT:

(a) STATUTORYAUDITOR

M/s.RajeevSingal&Co.,CharteredAccountants,(FirmRegistrationNo.008692C)wereappointedasStatutoryAuditorsthofyourCompanyattheAnnualGeneralMeetingheldon28 September,2017,foratermoffiveconsecutiveyearstohold

ndofficefromtheconclusionofthe22 AnnualGeneralMeetinguntiltheconclusionof27thAnnualGeneralMeetingofthe



Companytobeheldinthecalendaryear2022.AspertheprovisionsofSection139oftheCompaniesAct,2013,the

appointmentofAuditorswasrequiredtoberatifiedbyMembersateveryAnnualGeneralMeeting.

However, inaccordancewith theCompaniesAmendmentAct,2017,effectiveon7thMay,2018by theMinistryof

CorporateAffairs,theappointmentofStatutoryAuditorsisnotrequiredtoberatifiedateveryAnnualGeneralMeeting

fromnowonwards.

TheReportgivenbytheAuditorsonthefinancialstatementoftheCompanyispartofthisReport.Therehasbeennoqualification,reservation,adverseremarkordisclaimergivenbytheStatutoryAuditorsintheirReportonthefinancialstatementsfortheyearendedMarch31,2019.

(b) SECRETARIALAUDITOR

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment andRemuneration of Managerial Personnel) Rules, 2014, the Company has appointed Shailly Goel & Co., CompanySecretariestoundertaketheSecretarialAuditofthecompanyforthefinancialyear2018-19.TheSecretarialAuditReportisannexedherewithas'AnnexureI'.

TheBoardnotedtheobservationmadeintheSecretarialAuditreportandexplainedthatcompanyhascompliedwiththeprovisionsofalltheapplicablelawsexceptcompanydidnotsubmittheirfinancialresultsforthequarterendedMarch2018withinthestipulatedtimeperiodtotheBombayStockExchange(BSE).Inthisregard,theBoardwishestosubmitthatcompanyisregularinmakingthecompliancesandthisdefaultwasmadeduetothetechnicalerrorofthesystem&notintentionalonthepartofthecompany.Also,thecompanyhaspaidtheentirepenaltyamounttotheStockExchange.

(c) COSTAUDITOR

Asyourcompany is tradingcompany&due tonon–applicabilityofsection148andapplicableprovisionsof theCompaniesAct,2013andtheCompanies(CostRecordsandAudit)Rules2014,theCompanyisnotrequiredtoappointcostauditorforauditofcostrecords.

SUBSIDIARIES,JOINTVENTURESANDASSOCIATECOMPANIES

Ason31/03/2019,therewerenoassociatecompaniesoftheCompany.

Duringtheyear,theCompanyhaddisinvestedtheentireholdingofequitysharesinassociatecompanies“BrinaGopal

TradersPvtLtd.”and“SwabhimanVyapaarPvtLtd.”

Afterdisinvestment,thecompaniesarenolongerareassociatesofNeerajPaperMarketingLimited.

SHARECAPITAL

Thepaidupequitysharecapitalason31/03/2019wasRs.11,00,00,000.Furtherthecompanyhasnotboughtbackany

ofitssecurities,hasnotissuedanySweatEquityShares,hasnotprovidedanyStockOptionSchemetotheemployeesand

noBonusShareswereissuedduringtheyearunderreview.

EXTRACTOFANNUALRETURN

TheextractsofAnnualReturnpursuanttotheprovisionsofSection92(3)andSection134(3)(a)readwithRule12oftheCompanies(Managementandadministration)Rules,2014isfurnishedinAnnexureIIandisattachedtothisReportandisalsoavailableonthewebsiteofcompany.

Thecompanyhasfileditsannualreturnforthefinancialyearended31/03/2018&thesamehasbeenuploadedonthewebsiteoftheCompanyunderthelinkhttps://www.neerajpaper.com/Form_MGT_7.pdf

https://www.neerajpaper.com/Form_MGT_7.pdf



COMPLIANCEWITHSECRETARIALSTANDARDS

TheCompanyisincompliancewiththeapplicableSecretarialStandardsissuedbytheInstituteofCompanySecretariesofIndiaandapprovedbytheCentralGovernmentunderSection118(10)oftheAct.

CONSERVATIONOFENERGY,TECHNOLOGYABSORPTION,FOREIGNEXCHANGEEARNINGANDOUTGOETC:

InformationonconservationofEnergy,Technologyabsorption,ForeignExchangeearningsandoutgorequiredtobedisclosedunderSection134oftheCompaniesAct,2013readwithCompanies(Accounts)Rules,2014areprovidedhereunder:

(A)ConservationofEnergy:

Alleffortsaremadetoconserveandoptimizeuseofenergywithcontinuousmonitoringandtoreduceitselectricityconsumptionduringthefinancialyear.

(B)Technologyabsorption:

Sincethecompanyisinvolvedinthetradingactivities,nospecificexpensesaremadetowardstechnologyabsorptionduringthefinancialyear.

(C)ForeignexchangeearningsandOutgo:

ThereisnoForeignexchangeearningsofthecompanyduringthefinancialyear.However,therewasoutflowofRs.107,898,921.42/-(USD1,582,554.49)duringtheyear.

DIRECTORSANDKEYMAGAERIALPERSONNEL:thDuringtheyearMs.VaishaliMathpal,CompanySecretaryandComplianceOfficeroftheCompanyhasresignedw.e.f8

October 2018 and further on the recommendation of Nomination And Remuneration Committee, the Board hasndappointedinitsmeetingheldon22 October2018,Ms.MansiasCompanySecretaryandComplianceOfficerofthe

Company.

ThetermofMr.DeepakGoelandMr.ParveenKumarGoel,holdingpositionofWholeTimeDirectoroftheCompanyisstendingon1 September2019,theBoardonrecommendationofNominationAndRemunerationCommittee,approved

andrecommendedtothemembersoftheCompany,reappointmentofMr.DeepakGoelandMr.ParveenKumarGoelasWholeTimeDirectorsoftheCompanyonthetermsspecifiedintheresolution.

ThefirsttermofMr.ShubhakarPathak(DIN:02371350)andMs.Sonal(DIN:06953152),IndependentDirectorsoftheCompanyisendingon29thSeptember,2019.TheyhaveexpressedtheirinabilitytocontinueasIndependentDirectorfortheSecondterm.PursuanttotherecommendationofNominationAndRemunerationCommittee,andtheBoardat

thitsmeetingheldon13 August2019,approvedandrecommendedtothemembersoftheCompany,appointmentofMs.NehaAgarwalandMs.PoojaBhardwajasIndependentDirectoroftheCompany,foratermoffiveconsecutiveyearsw.e.f.

th th30 September,2019to29 September,2024.Accordingly,specialresolutionfortheirappointmentisincludedintheNoticeofensuingAGMforapprovalofmembersoftheCompany.

thAlsothefirsttermofMr.AnkurSangal(DIN:01095679),IndependentDirectorisendingon29 September,2019andheiseligibleandprovidedhisconsenttobereappointedasIndependentDirectorforthesecondterm.Pursuanttothe

threcommendationofNominationAndRemunerationCommittee,theBoardatitsmeetingheldon13 August2019,approvedandrecommendedtothemembersoftheCompany,re-appointmentofMr.AnkurSangalasaNon-Executive

thIndependentDirectoroftheCompany,notliabletoretirebyrotationforasecondtermoffiveconsecutiveyearsw.e.f.30 thSeptember,2019to29 September,2024.Accordingly,specialresolutionforhisre-appointment is includedinthe

NoticeofensuingAGMforapprovalofmembersoftheCompany.

ThecompanyhasreceivedthedeclarationsfromtheproposedIndependentDirectorsconfirmingthattheymeetthe



criteriaofindependenceasprovidedunderSection149(6)oftheCompaniesAct,2013andListingRegulations.

InaccordancewiththeprovisionsofCompaniesAct,2013andArticlesofAssociationoftheCompany,Mr.AmitAgarwal,ExecutiveDirectoroftheCompanyretirebyrotationattheensuingAnnualGeneralmeetingandbeingeligibleofferhimselfforre-appointment.

TheBoardrecommendstheresolutionsforyourapprovalfortheaboveappointments. .

a) BoardEvaluation

PursuanttotheprovisionsoftheCompaniesAct,2013andListingRegulation,theannualevaluationoftheperformanceoftheBoard,itsCommitteesandofindividualdirectorshasbeenmade.ThemannerinwhichtheevaluationhasbeencarriedouthasbeenexplainedintheCorporateGovernanceReport.

b) RemunerationPolicy

TheBoardhas,ontherecommendationoftheNomination&RemunerationCommitteeframedapolicyforselectionandappointment of Directors, SeniorManagement and their remuneration. The Remuneration Policy is stated in theCorporateGovernanceReport.

c) Meetings

DuringtheyearfiveBoardMeetingsandoneindependentdirectors'meetingwasheld.TheDetailsofwhicharegiveninCorporateGovernanceReport.TheprovisionsofCompaniesAct,2013andlistingagreementwereadheredtowhileconsideringthetimegapbetweentwomeetings.

VIGILMECHANISMPursuanttotheListingRegulationandasperSection177oftheCompaniesAct,2013thecompanyhasestablishedavigilmechanism/WhistleBlowerpolicyforthedirectorsandemployeestoreportgenuineconcernsorgrievancesaboutunethicalbehaviour,actualorsuspectedfraudorviolationofthecompany'sCodeofConductorEthicsPolicy.

Duringtheyearunderreview,thecompanyhasamendedtheWhistleBlowerPolicypursuanttotheamendmentmadeintheSEBI(PIT),Regulations,2015.

TheVigilMechanismPolicyhasbeenuploadedonthewebsiteoftheCompanyathttp://www.neerajpaper.com/index.php?page=vigil_mechanism.

COMMITEESOFTHEBOARD

a) AUDITCOMMITTEE

Ason31/03/2019,theAuditcommitteecomprisesofthefollowingdirectors:

Mr.AnkurSangal(Non-Executive,IndependentDirector) -ChairmanMs.Sonal(Non-Executive,IndependentDirector) -MemberMr.AmitAgarwal(Non-ExecutiveDirector) -Member

AlltherecommendationsmadebyAuditcommitteewereacceptedbytheBoard.

b) NOMINATIONANDREMUNERATIONCOMMITTEE

Ason31/03/2019,theNominationandRemunerationCommitteecomprisesofthefollowingdirectors:Mr.AnkurSangal(Non-Executive,IndependentDirector) -ChairmanMs.Sonal(Non-Executive,IndependentDirector) -Member

http://www.neerajpaper.com/index.php?page=vigil_mechanism



Mr.AmitAgarwal(Non-ExecutiveDirector) -Memberc) STAKEHOLDERRELATIONSHIPCOMMITTEE:

Duringtheyear,Mr.AnkurSangal, IndependentDirectorof thecompanyappointedasmemberof theStakeholder

Relationship Committee in the BoardMeeting held on 13.02.2019 as required in Regulation 20 of SEBI (Listing

Obligations andDisclosure Requirements), Regulations, 2015 as amended and as on 31/03/2019 the committee

comprisedofthefollowingdirectorsasmembers:

Mr.AmitAgarwal(Non-ExecutiveDirector) -Chairman

Mr.DeepakGoel(WholeTimeDirector) -Member

Mr.AnkurSangal(Non-ExecutiveIndependentDirector) -Member

PARTICULARSOFLOANS,GUARANTEESORINVESTMENTSMADEUNDERSECTION186OFTHECOMPANIESACT,

2013

Therewerenoloans,guaranteesorinvestmentsmadebytheCompanyunderSection186oftheCompaniesAct,2013

duringtheyearunderreviewandhencethesaidprovisionisnotapplicable.

However, detail of guaranteeswhich is outstanding as on 31/03/2019 is provided in the Notes to the FinancialStatements.

PARTICULARSOFCONTRACTSORARRANGEMENTSMADEWITHRELATEDPARTIES

Allcontracts/arrangements/transactionsenteredbytheCompanyduringthefinancialyearwithrelatedpartieswere

in theordinarycourseofbusinessandonanarm's lengthbasis.Therearenomaterially significant relatedparty

transactionsmadebytheCompanywithPromoters,Directors,KeyManagerialPersonnelorotherdesignatedpersons

whichmayhaveapotentialconflictwiththeinterestoftheCompanyatlarge.

AllRelatedPartyTransactionsareplacedbeforetheAuditCommitteeandalsotheBoardforapproval.

Duringtheyearunderreview,thecompanyhasamendedthepolicyonRelatedPartyTransactionsasapprovedbytheBoardandisuploadedontheCompany'swebsiteunderthelinkathttps://www.neerajpaper.com/POLICY%20FOR%20RELATED%20PARTY%20TRANSACTION-2.pdf

ParticularsofcontractsorarrangementsortransactionsinFormAOC-2areattachedasAnnexureIII.

MANAGERIALREMUNERATIONDisclosureunderRule5ofCompanies(AppointmentandRemuneration)Rules,2014isattachedasAnnexureIV.

RISKMANAGEMENTPOLICYIn accordance with Companies Act, 2013 and listing Regulation, the Board members were informed about riskassessmentandminimizationproceduresafterwhichtheBoardformallyadoptedstepsforframing,implementingandmonitoringtheriskmanagementplanforthecompany.

Themainobjectiveofthispolicyistoensuresustainablebusinessgrowthwithstabilityandtopromoteapro-activeapproachinreporting,evaluatingandresolvingrisksassociatedwiththebusiness.Inordertoachievethekeyobjective,thepolicyestablishesastructuredanddisciplinedapproachtoRiskManagement,inordertoguidedecisionsonriskrelatedissues.

In today's challenging and competitive environment, strategies formitigating inherent risks in accomplishing thegrowthplansoftheCompanyareimperative.Thecommonrisksinteraliaare:Regulations,competition,Businessrisk,Investments,retentionof talentandexpansionof facilities.Businessrisk, inter-alia, further includes financialrisk,

https://www.neerajpaper.com/POLICY%20FOR%20RELATED%20PARTY%20TRANSACTION-2.pdf



politicalrisk,fidelityrisk,legalrisk.

Asamatterofpolicy,theserisksareassessedandthecompanyhasnotidentifiedanyelementofriskwhichmaythreaten

theexistenceofthecompany.

CORPORATESOCIALRESPONSIBILITYAsperCompaniesAct,2013,provisionsofCorporateSocialResponsibilityarenotapplicabletothecompany.

DIRECTORS'RESPONSIBILITYSTATEMENT:IntermsofSection134(5)oftheCompaniesAct,2013,thedirectorswouldliketostatethat:

i) Inthepreparationoftheannualaccounts,theapplicableaccountingstandardshavebeenfollowed.

ii) ThedirectorshaveselectedsuchaccountingpoliciesandappliedthemconsistentlyandmadejudgmentsandestimatesthatwerereasonableandprudentsoastogiveatrueandfairviewofthestateofaffairsoftheCompanyattheendofthefinancialyearandoftheprofitorlossoftheCompanyfortheyearunderreview.

iii) ThedirectorshavetakenproperandsufficientcareforthemaintenanceofadequateaccountingrecordsinaccordancewiththeprovisionsofthisActforsafeguardingtheassetsoftheCompanyandforpreventinganddetectingfraudandotherirregularities.

iv) Thedirectorshavepreparedtheannualaccountsonagoingconcernbasis.

v) Thedirectorshadlaiddowninternalfinancialcontrolstobefollowedbythecompanyandthatsuchinternalfinancialcontrolsareadequateandwereoperatingeffectively.

vi) Thedirectorshaddevisedpropersystemtoensurecompliancewiththeprovisionsofallapplicablelawsandthatsuchsystemwereadequateandoperatingeffectively.

PARTICULARSOFEMPLOYEES

Duringtheyear,thereisnoemployeedrawingremunerationinexcessofthelimitsspecifiedunderCompaniesAct,2013andrulesmadethereunder.

However, the prescribed information of Employees as required under Section 134(3)(q) readwith Rule 5 of theCompanies(AppointmentandRemunerationofManagerialPersonnel)Rules,2014isattachedherewithasAnnexureV.

INTERNALCOMPLAINTCOMMITTEE

The Company has in place a Prevention of SexualHarassment Policy in linewith the requirements of the SexualHarassmentofWomenatWorkplace(Prevention,ProhibitionandRedressal)Act,2013.AnInternalCommitteehasbeen set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual,temporary,trainees)arecoveredunderthispolicy.

Further,yourDirectorsstatethatduringtheyearunderreview,companyhascompliedwiththeprovisionsrelatingtoconstitutionof Internal ComplaintCommitteeunder the SexualHarassment ofWomenatWorkplace (Prevention,ProhibitionandRedressal)Act,2013andtherewerenocasesofsexualharassmentreportedtotheCompanypursuanttothesexualHarassmentofWomenatWorkplace(Prevention,ProhibitionandRedressal)Act,2013.

CORPORATEGOVERNANCEANDMANAGEMENTDISCUSSION&ANALYSISREPORTS

TheCorporateGovernanceandManagementDiscussion&AnalysisReport,whichformanintegralpartofthisReport,aresetoutasseparateAnnexure,togetherwiththeCertificatefromtheauditorsoftheCompanyregardingcompliance



withtherequirementsofCorporateGovernanceasstipulatedintheListingRegulation.

ACKNOWLEGEMENT

YourDirectorstakethisopportunitytoconveytheirdeepsenseofgratitudeforvaluableassistanceandCo-Operation

extended to the Company by all valued Customers, Bankers and various departments of government and local

authorities.

YourDirectorsalsowishtoplaceonrecordtheirsincereappreciationforthevaluedcontribution,unstintedeffortsand

spiritofdedicationshownbytheemployees,officersandtheexecutivesatalllevelswhichcontributed,innosmall

measure,totheprogressandthehighperformanceoftheCompanyduringtheYearunderreview.

thDATED:13 AUGUST,2019PLACE:DELHI

Sd/-DEEPAKGOEL

(WHOLE-TIME-DIRECTOR)DIN:00200527

Sd/-PARVEENKUMARGOEL





ANNEXURETODIRECTORSREPORT

MANAGEMENTDISCUSSION&ANALYSISREPORT

INDUSTRYSTRUCTUREANDDEVELOPMENT

PAPERINDUSTRY:

Paperandboardpackagingisdefinedasthewrappingandcontainmentofgoods&productsforprotection,distribution,

storageandsaleusingpaperasprimarymaterial.Thepaperandboardpackagingindustry,valuedat369$Billion,holds

thelargestsharei.e.43%ofthetotalglobalpackagingindustry,whichiscomposedofseveralmaterialssuchasplastic

packaging,metalpackaging,glasspackaging,paper&boardpackagingandothers.Fromabasicusageasaproduct

'safeguard' or a 'container', packaging todayhasbecomean indispensablemarketing tool and an integral part of a

product'slifecycle.

Thedemandforpackaginghasbeencontinuouslyincreasingonaccountofrisingdisposableincome,singleliving,onthe

golifestyleandconvenientpackaging.Moreover,theexplosivegrowthinecommerceoverthepastfewyears,mainlydue

tofasterdelivery,freeshippingandincreasinginternetpenetration,isthemajorfactorfuelingtheoverallgrowthofthe

paper&boardpackagingmarket.Furthermore,therecyclabilitypropositionofpaperaswellasgrowingenvironmental

consciousnessamongconsumers towards sustainablepackaging isdrawingheightened industryattention toentice

customers.Basedontheabovefactors,thepaperandboardpackagingmarketisgrowingatafastpaceandislikelyto

continuegrowingataCAGRof4.4%overtheforecastperiodfrom2018-22.Thisreportcoversexhaustiveanalysison

industrydynamics,marketsize,supplyanddemand,currenttrends/issues&challengesandenduserindustry.

Accordingtothe“IndiaPaper&PaperProductsMarketbyApplication,byRawMaterial,Competition,Forecast&

Opportunities,2024”, heIndianpaper&paperproductsmarketisprojectedtogrowfrom$8.6billionin2018to$13.4t

billionby2024,exhibitingaCAGRof7.8%during2019-2024.Growingmanufacturingsector,requirementofbetter

qualitypackagingofFMCGproductsmarketedthroughorganizedretailandthedemandfortheupstreammarketofpaper

products,suchastissuepaper,filterpaper,teabags,lightweightonlinecoatedpaperandmedicalgradecoatedpaperare

expectedtodrivethepaper&paperproductsmarketinIndiaincomingyears.Moreover,manyoftheexistingplayersare

increasingtheircapacitytomeetthegrowingdemand.However,highcostofproductionasaresultofunavailabilityand

highcostofrawmaterials,highcostofpower,concentrationofmillsinspecificareasonly,technologicalobsolescenceas

wellasenvironmentalchallengesaresomeofthefactorshamperingthemarketgrowth.

PAPER&PAPERPRODUCTSDEMAND

· India'sshareinthedemandforpaperacrosstheglobewereanalysedisgrowing,asthedomesticdemandis

increasingatasteadypace,whilethedemandinwesternnationsisshrinking.Notably,thedemandfordomestic

paperinIndiarosefrom9.4milliontonnesinFY08to15.4milliontonnesinFY16.Despitethecontinuousgrowth

intheindustry,percapitapaperconsumptioninthecountrystandsatalittleover14kg,whichisstillwellbelow

theglobalaverageof57kgandconsiderablybelow200kginNorthAmerica.

· TheIndianpaper&paperproductsmarketisprojectedtogrowfrom$8.6billionin2018to$13.4billionby2024,

exhibitingaCAGRof7.8%during2019-2024.

· Growingmanufacturingsector,requirementofbetterqualitypackagingofFMCGproductsmarketedthrough

organizedretailandthedemandfortheupstreammarketofpaperproducts,suchastissuepaper,filterpaper,tea

bags,lightweightonlinecoatedpaperandmedicalgradecoatedpaperareexpectedtodrivethepaper&paper

productsmarketinIndiaincomingyears.

TheIndianpaper&paperproductsmarkethasbeensegmentedintorawmaterial,applicationandregion.Basedonraw



material,themarkethasbeencategorizedintowaste&recycledpaper,woodandagroresidue.Thewaste&recycled

papersegmentisexpectedtodominatethemarketduringforecastperiod,owingtogrowingconcernsaboutthecutting

downoftreesforproducingpulp.Further,basedonapplication,themarkethasbeenbifurcatedintowriting&printing

paper,paperboard&packaging,newsprintandspecialtypaper.

Amongtheapplicationsegments,thedemandforpaperboard&packagingisgrowingatthefastestpace,aspaperboard

&packagingcaterstoindustriesincludingFMCG,food&beverages,textilesandpharmaceutical.Thesegmentisalso

expectedtodominatethemarket,owingtofactorssuchasrisingurbanization,increasingpreferenceforready-to-eat

foodsandrequirementofbetter-qualitypackagingofFMCGproductsmarketedthroughorganizedretail.

Thepaper&paperproductsmarketinIndiahasbeensegmentedintoNorth,South,EastandWest.Westernregionisthe

leadconsumerofpaper&paperproductsacrossthecountry,onaccountofincreasingpaperconsumption,especially

FMCGproducts.

Thepapermillsuseavarietyofrawmaterialssuchaswood,bamboo,bagasse,recycledfiber,wheatstraw,riceandhusk.

Thegeographicallocationofthemilloftendeterminesthetypeofrawmaterialused.Mostmillsinthenorthernand

westernregionsofIndiadependheavilyonagriculturalresiduesandwastepaperastheirrawmaterial.Whilepulp&

paperproductioninsouthernandeasternregionsusewoodandbambooasrawmaterials.

OPPORTUNITIESANDTHREATS

ThecompetitivestrengthsandtheopportunitiesthatareavailabletotheIndianPaperIndustryare:

· Itislargeandgrowingdomesticpapermarketandpotentialforexport.

· fastgrowingcontemporaryprintingsector.

· Government'sthrustforimprovingeducationandliteracyintheCountry.

· availabilityofqualifiedtechnicalmanpowerwithcapabilitytodesign,buildandmanageworldscalepulpandpapermills.

· wellestablishedResearchandDevelopment(R&D)facilities/activitiesencouraginginnovation.

· potentialforcreationofsustainablerawmaterialbasethroughfarmplantations.

THREAT:

· Therearenothreatsanticipatedtowardsourbusinessbeingtradingbusinessofpaperexceptcompetition.

SEGMENT-WISE/PRODUCTWISEPERFORMANCE

Companyisengagedintradingofpaperandwastepaper.Duringtheyear–2018-19,turnoverofPaper,PaperBoardand

OtherPaperitemscontributedinthegrossturnoveroftheCompanywhichisasfollows

S.No Products Total(inLacs)

1 Duplex 8701.47

2 KraftPaper 7313.04

3 PaperWaste 5388.47

4 BindalFinePrint 350.5

5 ArtPaper 1430.96

6 PosterPaper 322.13

7 USSteamCoalInBulk 1076.71

8 Others 189.92

Revenuefromproducts



OUTLOOK

Thecompanyutilizedthetotalcapitalarranged.Inadditiontothecorepapertrading,thecompanyalwaystryingto

exploretheopportunitiesinthosesectorwherethecompanycanincreasethevalueofstakeholders.Paper,PaperBoard

andOtherPaperitemscontributed100%inthegrossturnoveroftheCompany.

RISKSANDCONCERN

Anintegratedriskmanagementprocessisbeingadoptedbythecompanythatworkstowardstheevaluationofthe

associatedbusinessriskandenablesthecompanytosurviveinthecompetitiveenvironment.Intoday'schallengingand

competitiveenvironment,strategiesformitigatinginherentrisksinaccomplishingthegrowthplansoftheCompanyare

imperative.Thecommonrisksinteraliaare:Regulations,competition,Businessrisk,Investments,retentionoftalent

andexpansionoffacilities.Businessrisk,inter-alia,furtherincludesfinancialrisk,politicalrisk,fidelityrisk,legalrisk.

Asamatterofpolicy, theserisksareassessedandthecompanyhasnot identifiedanyelementofriskwhichmay

threatentheexistenceofthecompany.

INTERNALCONTROLSYSTEMANDADEQUACY

TheCompanyhasanInternalControlSystem,commensuratewiththesize,scaleandcomplexityofitsoperations.The

InternalAuditDepartmentmonitorsandevaluatestheefficacyandadequacyofinternalcontrolsystemintheCompany,

itscompliancewithoperatingsystems,accountingproceduresandpoliciesatall locationsoftheCompanyandits

subsidiaries. Based on the report of internal audit function, process owners undertake corrective action in their

respectiveareasandtherebystrengthenthecontrols.

TheAuditCommitteeofthecompanyalsoreviewstheinternalcontrolsystemprevalentateachleveloftheorganization

andpassesonitsrecommendationtothemanagementinrespectoftheareas,whichrequiresthecorrection.

DISCUSSIONONFINANCIALPERFORMANCEWITHRESPECTTOOPERATIONALPERFORMANCE

ThefinancialandoperativeperformanceisalreadyelaboratedinDirectorsReport.

HUMANRESOURCES

Thecompanycontinuouslyworksonthedevelopmentoftheemployeesatvariouslevels.Themanagementmakessure

that the employee morale and dedication remains high and that they contribute their fullest and best to the

organization.Therecreationalactivitieslikeseminars/vacationsareplannedfortheemployeesatregularintervals.As

on31/03/2019,theCompanyhas30employees.Industrialrelationsarecordialandsatisfactory.

KEYFINANCIALRATIOS

Thedetailsofchanges inKeyFinancialRatiosascompared to the immediatelyprevious financialyearalongwith

explanationsareasfollows:



CHANGESINRETURNONNETWORTH

The return on networth for the financial year 2017-18 and for the financial year 2018-19, it is -9.03% and 1.2%

respectively.Thechangeinreturnonnetworthascomparedtotheimmediatelypreviousfinancialyearis-13.33and

reasonforchangeintheaboveisduetolowerinterestcostintheFY2018-19andsomeexpensesofexceptionalnature

arisingonaccountofIncomeTaxandServiceTaxliabilitiesofearlieryearsincurredintheFY2017-18

CAUTIONARYSTATEMENT

StatementsintheManagementDiscussionandAnalysisandintheDirectors'Report,describingthecompany'sobjectives,

projections and estimates, results may vary materially from those expressed or implied by the forward looking

statementsduetorisksoruncertaintiesassociatedtherewithdependinguponeconomicconditions,governmentpolicies

andotherincidentalfactors.Readersarecautionednottoplaceunduerelianceontheseforward-lookingstatements.



CompaniesAct,2013andtherulesmadethereunder.

TheSecuritiesContracts(Regulation)Act,1956('SCRA')andtherulesmadethereunder.

TheDepositoriesAct,1996andtheRegulationsandBye-lawsframedthereunder.

Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent ofForeign Direct Investment, Overseas Direct Investment and External Commercial Borrowings (ECB). NotApplicableduringtheAuditperiod

The followingRegulations andGuidelinesprescribedunder the Securities andExchangeBoardof IndiaAct,1992('SEBIAct'):-

(i)

(ii)

(iii)

(iv)

(v)

TheSecuritiesandExchangeBoardofIndia(SubstantialAcquisitionofSharesandTakeovers)Regulations,2011.TheSecuritiesandExchangeBoardofIndia(ProhibitionofInsiderTrading)Regulations,1992.TheSecuritiesandExchangeBoardofIndia(IssueofCapitalandDisclosureRequirements)Regulations,2009.NotApplicableduringtheAuditperiod TheSecuritiesandExchangeBoardofIndia(EmployeeStockOptionSchemeandEmployeeStockPurchaseScheme)Guidelines,1999.NotApplicableduringtheAuditperiodTheSecuritiesandExchangeBoardofIndia(IssueandListingofDebtSecurities)Regulations,2008.NotApplicableduringtheAuditperiodTheSecuritiesandExchangeBoardofIndia(RegistrarstoanIssueandShareTransferAgents)Regulations,1993regardingtheCompaniesActanddealingwithclient.TheSecuritiesandExchangeBoardofIndia(DelistingofEquityShares)Regulations,2009.NotApplicableduringtheAuditperiodTheSecuritiesandExchangeBoardofIndia(BuybackofSecurities)Regulations,1998.NotApplicableduringtheAuditperiod1992('SEBIAct'):-

(i)

(ii)(iii)

(iv)

(v)

(vi)

(vii)

(viii)

AnnexureIToBoardReport

SECRETARIALAUDITREPORT

FORTHEFINANCIALYEARENDED31STMARCH,2019

[Pursuanttosection204(1)oftheCompaniesAct,2013andruleNo.9oftheCompanies

(AppointmentandRemunerationofManagerialPersonnel)Rules,2014]

To,

TheMembers,

NeerajPaperMarketingLimited

WehaveconductedtheSecretarialAuditofthecomplianceofapplicablestatutoryprovisionsandtheadherencetogood

corporatepracticesbyNeerajPaperMarketingLimited.SecretarialAuditwasconductedinamannerthatprovidedus

areasonablebasisforevaluatingthecorporateconducts/statutorycompliancesandexpressingouropinionthereon.

BasedonourverificationoftheNeerajPaperMarketingLimited's books,papers,minutebooks,formsandreturns

filedandotherrecordsmaintainedbythecompanyandalsotheinformationprovidedbytheCompany,itsofficers,

agentsandauthorizedrepresentativesduringtheconductofSecretarialAudit,weherebyreportthatinouropinion,thestcompany has, during the audit period covering the financial year ended on31 March, 2019 compliedwith the

statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance

mechanisminplacetotheextent,inthemannerandsubjecttothereportingmadehereinafter:

Wehaveexaminedthebooks,papers,minutebooks,formsandreturnsfiledandotherrecordsmaintainedbyNeerajstPaperMarketingLimitedforthefinancialyearendedon31 March,2019accordingtotheprovisionsof:



Inrespectofother lawsspecificallyapplicable to theCompany,wehavereliedontherepresentationmadebythe

CompanyanditsOfficersforsystemsandmechanismformedbytheCompanyforcompliancesunderotherapplicable

Acts,LawsandRegulationstotheCompanyandthereportingislimitedtothatextent.Aspertheinformation,the

followingotherlawsarespecificallyapplicabletothecompany:

I) LabourLawsandotherincidentallawsrelatedtoemployeesappointedbytheCompanyonitspayrollas relatedtogratuity,providentfund,ESICetc.;II) ActsasprescribedunderDirectTaxandIndirectTax

Wehavealsoexaminedcompliancewiththeapplicableclausesofthefollowing:

(i). SecretarialStandardsonMeetingsofBoardofdirectors(SS-1)andGeneralMeetings(SS-2)issuedbyThe InstituteofCompanySecretariesofIndia. (ii). SEBI(ListingObligationsandDisclosureRequirements)Regulations,2015

During the period under review the Company has complied with the provisions of the Act, Rules, Regulations,Guidelines,Standards,etc.mentionedaboveexceptthattherewasdelayinsubmissionofAuditedfinancialresultsfortheQuarterandYearended31/03/2018withtheStockExchangesanddelayinpublicationofsameinnewspapers.ThecompanyislistedwithBSELimitedunderTrade–for-Tradesegmentsince100%PromoterShareholdingand50%ofPublicShareholdingofthecompanyisnotindematForm.Wefurtherreportthat:

(i) The Board of Directors of the Company is duly constitutedwith proper balance of ExecutiveDirectors, Non-ExecutiveDirectorsandIndependentDirectors.ThechangesinthecompositionoftheBoardofDirectorsthattookplaceduringtheperiodunderreviewwerecarriedoutincompliancewiththeprovisionsoftheAct,

(ii).AdequatenoticeisgiventoalldirectorstoscheduletheBoardMeetings,agendaanddetailednotesonagendaweresent at least seven days in advance, and a system exists for seeking and obtaining further information andclarificationsontheagendaitemsbeforethemeetingandformeaningfulparticipationatthemeeting.

Majoritydecisioniscarriedthroughwhilethedissentingmembers'viewsarecapturedandrecordedaspartoftheminutes.

WefurtherreportthatbasedontheinformationreceivedandrecordsmaintainedbytheCompany,thereareadequatesystemsandprocessesintheCompany,commensuratewiththesizeandoperationsoftheCompanytomonitorandensurecompliancewithapplicablelaws,rules,regulationsandguidelines.

WefurtherreportthatduringtheauditperiodtherehasnotbeenanysuchactivityhavingamajorbearingontheCompany'saffairsinpursuanceoftheabovereferredlawsrules,regulations,guidelinesetc.

ForShaillyGoel&Co.PracticingCompanySecretaries

SD/-ShaillyGoelCompanySecretaryFCSNo:8769C.P.No.:9196

Date: 9thAugust,2019Place: NewDelhi

Note:Thisreporttobereadwithourletterofevendatewhichisannexedas'AnnexureA'andformsintegralpartofthisreport.



‘ANNEXUREA’

To,

TheMembers,NEERAJPAPERMARKETINGLIMITED218-222,AgarwalPrestigeMall,

nd2 Floor,CommunityCentre,AlongRoadNo.44,Pitampura,Delhi-110034

Ourreportofevendateistobereadalongwiththisletter.

1. Maintenanceofsecretarialrecordistheresponsibilityofmanagementofthecompany.Ourresponsibilityistoexpressanopiniononthesesecretarialrecordsbasedonouraudit.

2. WehavefollowedtheauditpracticesandprocessesaswereappropriatetoobtainreasonableassuranceaboutthecorrectnessofthecontentsoftheSecretarialrecords.Theverificationwasdoneontestbasistoensurethatcorrectfactsarereflectedinsecretarialrecords.Webelievethattheprocessesandpractices,wefollowedprovideareasonablebasisforouropinion.

3. Wehavenotverifiedthecorrectnessandappropriatenessof financialrecordsandBooksofAccountsof thecompany.

4. Whereeverrequired,wehaveobtainedtheManagementrepresentationaboutthecomplianceoflaws,rulesandregulationsandhappeningofeventetc.

5. ThecomplianceoftheprovisionsofCorporateandotherapplicablelaws,rules,regulations,standardsistheresponsibilityofmanagement.Ourexaminationwaslimitedtotheverificationofproceduresontestbasis.

6.TheSecretarialAuditreportisneitheranassuranceastothefutureviabilityofthecompanynoroftheefficacyoreffectivenesswithwhichthemanagementhasconductedtheaffairsofthecompany.


SD/-ShaillyGoelCompanySecretaryFCSNo:8769C.P.No.:9196

Date: 9thAugust,2019Place: NewDelhi



AnnexureIItoBoardReportFORMNO.MGT9

EXTRACTOFANNUALRETURN

Ason�inancialyearendedon31/03/2019PursuanttoSection92(3)oftheCompaniesAct,2013andrule12(1)oftheCompany

(Management&Administration)Rules,2014

I. REGISTRATION&OTHERDETAILS:

1. CIN L74899DL1995PLC066194

2. RegistrationDate 09.03.1995

3. NameoftheCompany NEERAJPAPERMARKETINGLIMITED

4. Category/Sub-categoryoftheCompany PUBLICLIMITEDCOMPANY

5. AddressoftheRegisteredof�ice&contact

details

218-222,AGGARWALPRESTIGEMALL,

PLOTNO.2,COMMUNITYCENTER,

ALONGROADNO.44,PITAMPURA,DELHI–110034

TEL–011-47527700,FAX–011-47527777

6. Whetherlistedcompany YES

7. Name,Address&contactdetailsofthe

Registrar&TransferAgent,ifany

BEETALFINANCIAL&COMPUTERSERVICESPVT.LTD.

BEETALHOUSE,3RDFLOOR,99,MADANGIR,DELHI–

110062

TEL–011-29961281-82,FAX–011-29961284

II. PRINCIPALBUSINESSACTIVITIESOFTHECOMPANY(Allthebusinessactivitiescontributing10%

ormoreofthetotalturnoverofthecompanyshallbestated)

S.No. NameandDescriptionofmainproducts/

services

NICCodeofthe

Product/service

%tototalturnoverofthe

company

1 Trading&MarketingofPaper 46696 100%

III.PARTICULARSOFHOLDING,SUBSIDIARYANDASSOCIATECOMPANIES-

S.N0

NameandAddressoftheCompany

CIN/GLN

Holding/Subsidiary/Associate

%ofsharesheld

ApplicableSection

- - - - - -



IV.SHAREHOLDINGPATTERN(EquityShareCapitalBreakupaspercentageofTotalEquity)i) Category wiseShareHolding

A.Promoters/PromoterGroup

CategoryofShareholders

No.ofSharesheldatthebeginningoftheyear[Ason31-March-2018]

No.ofSharesheldattheendoftheyear[Ason31-March-2019]

%Changeduringtheyear Demat Physical Total

%ofTotalShares

Demat Physical Total %ofTotalShares

(1)Indian

a)Individual/HUF 102590037500 1063400

9.67 104640017000 1063400

9.67 -

b)CentralGovt - - - - - - - - -

c)StateGovt(s) - - - - - - - - -

d)BodiesCorp. 934618 1063686 199830418.17

1998304 0 199830418.17 -

e)Banks/FI - - - - - - - - -

f)Anyother - - - - - - - --

Sub-total(A)(1):- 1960518 1101186 3061704 27.84 3044704 17000 3061704 27.84 -

(2)Foreign

a)NRI-Individuals - - - - - - - - -

b)Other-Individuals - - - - - - - - -

c)BodiesCorp. - - - - - - - - -

d)Bank/FI - - - - - - - - -

e)AnyOther... - - - - - - - - -

Sub-total(A)(2) - - - - - - - - -

Totalshareholdingof

Promoter(A)=

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

1960518 1101186 3061704 27.84 3044704 17000 3061704 27.84 -

B.PublicShareholding

1.Institutions - - - - - - - - -

a)MutualFunds - - - - - - - - -

b)Banks/FI - - - - - - - - -

c)CentralGovt - - - - - - - - -

d)StateGovt(s) - - - - - - - - -

e)VentureCapitalFunds - - - - - - - - -

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

g)FIIs - - - - - - - - -



h)ForeignVentureCapital

Funds- - - - - - - - -

i)Others(specify) - - - - - - - - -

Sub-total(B)(1):- - - - - - - - - -

2.Non-Institutions

a)BodiesCorp. - - - - - - - - -

i)Indian 675 5958700 5959375 54.18 1562 5958700 5960262 54.18 0.014

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

b)Individuals - - - - - - - - -

i)IndividualshareholdersholdingnominalsharecapitaluptoRs.1lakh

47500 1736201 1783701 16.21 59014 1697304 1756318 15.96 -0.25

ii)IndividualshareholdersholdingnominalsharecapitalinexcessofRs1

lakh

17000 168100 185100 1.68 15421 196400 211821 1.92 0.24

c)Others(specify)HUF

10120 - 10120 0.09 9895 - 9895 0.09 2.22

NonResidentIndians

OverseasCorporateBodies

ForeignNationals

ClearingMembers

Trusts

ForeignBodies-DR

Sub-total(B)(2):- 75295 7863001 7938296 72.16 85892 7852404 7938296 72.16 2.234

TotalPublicShareholding(B)=(B)(1)+(B)(2)

75295 7863001 7938296 72.16 85892 7852404 7938296 72.16 2.234

C.SharesheldbyCustodianforGDRs&

ADRs- - - - - - - - -

GrandTotal(A+B+C) 2035813 8964187 11000000 100 3130596 7869404 11000000 100 -

CategoryofShareholders

No.ofSharesheldatthebeginningoftheyear[Ason31-March-2018]

No.ofSharesheldattheendoftheyear[Ason31-March-2019]

%Changeduringtheyear Demat Physical Total

%ofTotalShares

Demat Physical Total %ofTotalShares



ii)ShareholdingofPromoterandPromoterGroup:-

SN Shareholder’sNameShareholdingatthebeginningoftheyear(31/03/2018)

Shareholdingattheendoftheyear(31/03/2019)

%changeinshareholdingduringtheyear

No.ofShares

%oftotalSharesofthecompany

%ofSharesPledged/encumberedtototalshares

No.ofShares

%oftotalSharesofthecompany

%ofSharesPledged/encumberedtototalshares

1 NeerajGoel 336500 3.06 Nil 336500 3.06 Nil -

2 DeepakGoel 11000 0.1 Nil 11000 0.1 Nil -

3 PraveenKumarGoel 117000 1.06 Nil 117000 1.06 Nil -

4 MadhulikaGoel 275500 2.5 Nil 275500 2.5 Nil -

5 PankajGoel16500 0.15 Nil 16500 0.15 Nil -

6 MukeshGoel17000 0.15 Nil 17000 0.15 Nil -

7 AmbujKumarGoel17500 0.16 Nil 17500 0.16 Nil -

8 PoonamGoel38200 0.35 Nil 38200 0.35 Nil -

9 NutanGoel76500 0.70 Nil 76500 0.70 Nil -

10

RadhikaGoel75800 0.69 Nil 75800 0.69 Nil -

11 IshitaGoel1800 0.02 Nil 1800 0.02 Nil -

12 ChiragGoel37900 0.34 Nil 37900 0.34 Nil -

13 ManikaGoel1500 0.01 Nil 1500 0.01 Nil -

14 ToshikaGoel3500 0.03 Nil 3500 0.03 Nil -

15 TanviGoel3400 0.03 Nil 3400 0.03 Nil -

16 DeepakGoel&Sons16800 0.15 Nil 16800 0.15 Nil -

17 KamlaGoel&Sons(HUF)17000 0.15 Nil 17000 0.15 Nil -

18BindalPulp&PaperPvt.Ltd.

226725 2.07 Nil 226725 2.07 Nil -

19BrinaGopalTradersPvt.Ltd.

279029 2.54 Nil 279029 2.54 Nil -

20SwabhimanVyapaarPvt.Ltd.

500000 4.55 Nil 500000 4.55 Nil -

21 V.R.DigitalPvt.Ltd. 284657 2.59 Nil 284657 2.59 Nil -

22BindalsPapersMillsLimited

707893 6.44 Nil 707893 6.44 Nil -

Total 3061704 27.84 Nil 3061704 27.84 Nil

-



iii)ChangeinPromoters’Shareholding(pleasespecify,ifthereisnochange)

SN Particulars Shareholdingatthe

beginningoftheyear

CumulativeShareholding

duringtheyear

No.of

shares

%oftotal

sharesof

the

company

No.of

shares

%oftotal

sharesof

the

company

Atthebeginningoftheyear 3063400 27.84 3063400 27.84

Datewise Increase/Decrease inPromotersShareholding

during the year specifying the reasons for increase /

decrease (e.g. allotment /transfer / bonus/ sweat equity

etc.):

NOCHANGEINSHAREHOLDING

Attheendoftheyear 3063400 27.84 3063400 27.84

iv)ShareholdingPatternoftoptenShareholders:

(OtherthanDirectors,PromotersandHoldersofGDRsandADRs):SN ForEachoftheTop

10

Shareholders

Shareholdingatthe

beginning

oftheyear

Shareholdingatthe

end

oftheyear

Date wise Increase /

Decrease in Promoters

Shareholding during the

year

Cumulative

Shareholdingduring

the

Year

No.of

shares

%oftotal

sharesof

the

company

No.of

shares

%oftotal

sharesof

the

company

No.of

shares

%oftotal

sharesof

the

company

1. Sundeep Credit Pvt.

Ltd.

500000 4.55 500000 4.55 NoChange 500000 4.55

2. Alankrit Retails Pvt.

Ltd.

500000 4.55 500000 4.55 NoChange 500000 4.55

3. Phoenix Consumer

GoodsPvt.Ltd.

420000 3.82 420000 3.82 NoChange 420000 3.82

4. RamAlloyCastingsPvt.

Ltd.

400000 3.64 400000 3.64 NoChange 400000 3.64

5. Symbolic Finance &

InvestmentPvt.Ltd.

400000 3.64 400000 3.64 NoChange 400000 3.64

6. PetalsPackingPvt.Ltd. 400000 3.64 400000 3.64 NoChange 400000 3.64

7. Vibgyor Contractors

Pvt.Ltd.

357100 3.25 357100 3.25 NoChange 357100 3.25

8. Binshul Garments Pvt.

Ltd.

340000 3.09 340000 3.09 NoChange 340000 3.09

9. Bluestar Impex Pvt.

Ltd.

300000 2.73 300000 2.73 NoChange 300000 2.73

10. Base Media Projects

Pvt.Ltd.

300000 2.73 300000 2.73 NoChange 300000 2.73



v)ShareholdingofDirectorsandKeyManagerialPersonnel:SN Shareholdingofeach

DirectorsandeachKey

ManagerialPersonnel

Shareholdingatthe

beginningoftheyear

Shareholdingatthe

endoftheyear

DatewiseIncrease/

Decreasein

Promoters

Shareholding

duringtheyear

Cumulative

Shareholdingduring

theYear

No.of

shares

%oftotal

sharesof

the

company

No.of

shares

%oftotal

sharesof

the

company

No.of

shares

%oftotal

sharesof

the

company

1.

DeepakGoel(WTD) 11000 0.10 11000 0.10 NoChange 11000 0.10

2. PraveenKumarGoel(WTD) 117000 1.06 117000 1.06 NoChange 117000 1.06

3. AmitAgarwal(Non-ExeDir) NIL NIL NIL NIL N.A NIL NIL

4. ShubhakarPathak(Indp.Dir) NIL NIL NIL NIL N.A NIL NIL

5. AnkurSangal(Indp.Dir) NIL NIL NIL NIL N.A NIL NIL

6. Sonal(Indp.Dir) NIL NIL NIL NIL N.A NIL NIL

7

VipinKumarGoel(CFO) NIL NIL NIL NIL N.A NIL NIL

8. Mansi(CS) NIL NIL NIL NIL N.A NIL NIL

V)INDEBTEDNESS-Indebtednessofthecompanyincludinginterestoutstanding/accruedbutnotdueforpayment:

(InLacs)

SecuredLoansexcluding

depositsUnsecuredLoans Deposits

Total

Indebtedness

Indebtednessatthebeginningofthe�inancial

year

i)PrincipalAmount 6078.06 406.94 - 6485.00

ii)Interestduebutnotpaid - - - -

iii)Interestaccruedbutnotdue - - - -

Total(i+ii+iii) 6078.06 406.94 - 6485.00

ChangeinIndebtednessduringthe�inancial

year

*Addition 59.12 32.77 - 91.89

*Reduction 4340.34 40.78 - 4381.12

NetChange (4281.22) (8.01) - (4289.23)

Indebtednessattheendofthe�inancialyear

i)PrincipalAmount 1796.84 398.93 - 2195.77

ii)Interestduebutnotpaid - - - -

iii)Interestaccruedbutnotdue - - - -

Total(i+ii+iii) 1796.84 398.93 - 2195.77



VI.REMUNERATIONOFDIRECTORSANDKEYMANAGERIALPERSONNEL-

A.RemunerationtoManagingDirector,Whole-timeDirectorsand/orManager:

SN. ParticularsofRemuneration NameofMD/WTD/Manager TotalAmount

DeepakGoel(WTD) PraveenKumarGoel(WTD)

1

Grosssalary -

(a)Salaryasperprovisionscontainedinsection17(1)of

theIncome-taxAct,19611800000 1800000 3600000

(b)Valueofperquisitesu/s17(2)Income-taxAct,1961 - - -

(c)Pro�itsinlieuofsalaryundersection17(3)Income-tax

Act,1961- - -

2 StockOption - - -

3 SweatEquity - - -

4

Commission

-as%ofpro�it

-others,specify…

- - -

5 Others,pleasespecify

- - -

Total(A) 1800000 1800000 3600000

B. Remunerationtootherdirectors

SN. ParticularsofRemuneration NameofDirectors TotalAmount

AmitAgarwal ShubhakarPathak AnkurSangal Sonal

1

IndependentDirectors

Feeforattendingboardcommitteemeetings - 5000 10000 10000 25000

Commission - - - - -

Others,pleasespecify - - - - -

Total(1) - 5000 10000 10000 25000

2

OtherNon-ExecutiveDirectors - - - - -

Feeforattendingboardcommitteemeetings 10000 - - - 10000

Commission - - - - -

Others,pleasespecify - - - - -

Total(2) 10000 - - - 10000

Total(B)=(1+2) 10000 5000 10000 10000 35000

TotalManagerial

Remuneration*

*TotalManagerialRemunerationisTotalofA

CeilingaspertheActunderScheduleVisRs.84,00,000/-foronemanagerialpersonnel

OverallCeilingaspertheActisRs.100,000permeetingattendancefees



C.REMUNERATIONTOKEYMANAGERIALPERSONNELOTHERTHANMD/MANAGER/WTD

SN ParticularsofRemuneration KeyManagerialPersonnel(Annual)

CS CFO Total

1

Grosssalary 352000 625000 977000

(a)Salaryasperprovisionscontainedinsection17(1)oftheIncome-taxAct,1961 - - -

(b)Valueofperquisitesu/s17(2)Income-taxAct,1961 - - -

(c)Pro�itsinlieuofsalaryundersection17(3)Income-taxAct,1961 - - -

2 StockOption - - -

3 SweatEquity - - -

4 Commission - - -

-as%ofpro�it - - -

Othersspecify… - - -

5 Others,pleasespecify - - -

Total 352000 625000 977000

Note:Duringtheyear,Ms.VaishaliMathpal,CompanySecretaryhasresignedandMs.MansihasbeenappointedasCompanySecretaryon 22/10/2018.

VII.PENALTIES/PUNISHMENT/COMPOUNDINGOFOFFENCES:

TypeSectionoftheCompaniesAct

BriefDescription

DetailsofPenalty/Punishment/Compoundingfeesimposed

Authority[RD/NCLT/COURT]

Appealmade,ifany(giveDetails)

A.COMPANY

Penalty NIL

Punishment

Compounding

B.DIRECTORS

Penalty

PunishmentNIL

Compounding

C.OTHEROFFICERSINDEFAULT

Penalty NIL

Punishment

Compounding


Sd/-DEEPAKGOEL







AnnexureIIItoBoardReport

FORMNO.AOC-2(Pursuanttoclause(h)ofsub-section(3)ofsection134oftheActandRule8(2)oftheCompanies

(Accounts)Rules,2014.

FormforDisclosureofparticularsofcontracts/arrangementsenteredintobythecompanywithrelatedpartiesreferredtoinsubsection(1)ofsection188oftheCompaniesAct,2013includingcertainarmslengthtransactionunderthirdprovisothereto.

1.DetailsofcontractsorarrangementsortransactionsnotatArm'slengthbasis.TherewerenocontractsorarrangementsortransactionsenteredduringtheyearendedMarch31,2019,whichwerenotatarm'slengthbasis.

2.DetailsofcontractsorarrangementsortransactionsatArm'slengthbasis.

NameofRelatedParty NatureofRelationship NatureofTransactionDurationofTransaction

Salienttermsoftransaction

Amount(InLacs)

M/sShakumbhariPulp&PaperMillsLimited

CommondirectorshipPurchase

From01/04/2018to31/03/2019

BUSINESSTRANSACTION

3.75Sales 109.48AmountPayable 2.31

RoshanLalAshokKumar

DirectorsarepartnersofHUF

TransferofInvestmentinshares

- - 25

Mr.DeepakGoel

Director

DirectorRemuneration

From01/04/2018to31/03/2019

-

18.00

UnsecuredLoanPaid 11.60

UnsecuredLoanReceived 20AmountPayable(Remuneration+Loan)

20.68

Mr.PraveenKumarGoel DirectorDirectorRemuneration From01/04/2018

to31/03/2019-

18.00

AmountPayable 0.78

Mr.PankajGoel RelativeofDirectorSalary From01/04/2018

to31/03/2019-

6.60

AmountPayable 0.50

Mr.VipinKumarGoel(CFO)

RelativeofDirectorSalary From01/04/2018

to31/03/2019-

6.25AmountPayable 1.50

Ms.VaishaliMathpal CompanySecretary(Resigned)

SalaryFrom01/04/2018to08/10/2018

- 2.03

Ms.Mansi CompanySecretarySalary From22/10/2018

to31/03/2019-

1.49

AmountPayable 0.28

Ms.IshitaGoel RelativeofDirectorUnsecuredLoanReceived From01/04/2018

to31/03/2019-

3.41


Mr.ChiragGoel RelativeofDirectorUnsecuredLoanReceived

From01/04/2018to31/03/2019

-0.82


InterestpaidonU/SLoan 0

Mr.UditGoel RelativeofDirectorUnsecuredLoanPaid From01/04/2018

to31/03/2019-

4.18InterestpaidonU/SLoan 0.41

Mrs.NutanGoel RelativeofDirectorUnsecuredLoanPaid

From01/04/2018to31/03/2019

-

12.46UnsecuredLoanReceived 5.46InterestpaidonU/SLoan 0.33


Sd/-DEEPAKGOEL







AnnexureIVtoBoardreport

Disclosure in the Board’s Report under Rule 5 of Companies (Appointment & Remuneration of Managerial

Personnel)Rules,2016

(i) TheRatiooftheremunerationofeachdirectortothemedianremunerationoftheemployeesofthecompanyforthe�inancialyear2018-19

Director’sName Ratiotomedianremuneration(Ason31/03/2019)

DeepakGoel 5.76:1

PraveenKumarGoel 5.76:1

(ii) ThePercentageincreaseinremunerationofeachDirector,ChiefFinancialOf�icer,ChiefExecutiveOf�icer,CompanySecretaryorManager,ifany,inthe�inancialyear2018-19comparedto2017-18

Director’s/CFO/CSname

Percentageincreaseinremuneration

DeepakGoel,WTD Nochange PraveenKumarGoel,WTD Nochange VipinKumarGoel,CFO Nochange Mansi(CS) Nochange(iii) Percentageincreaseinthemedian

remunerationofemployeesinthe�inancialyear2018-19comparedto2017-18*

11.76%

(iv) Numberofpermanentemployeesontherollsofthecompany

Ason31.03.2019 Ason31.03.2018

30 35(v) Averagepercentileincreaseinsalariesof

Employeesotherthanmanagerialpersonnelin2018-19comparedto2017-18**

16.15%

Averagepercentileincreaseinmanagerialremunerationin2018-19

Nil

Af�irmationthattheremunerationisaspertheremunerationpolicyofthecompany.

Itisherebyaf�irmedthatremunerationpaidisaspertheremunerationpolicyoftheCompany

*Remunerationofemployeesason31/03/2019and31/03/2018.**Averagepercentileincreaseinsalarieshasbeenconsideredonannualbasis.


Sd/-DEEPAKGOEL





***Totalemployeesexcludesdirectorofcompany

***



AnnexureV-TOPTENEMPOLY

EESDETAILS



CORPORATEGOVERNANCEREPORT1. COMPANY’SPHILOSOPHYONCODEOFGOVERNANCETheCompanybelievesthatCorporateGovernanceisasetofprocesses,customs,policies,rules,regulationandlawsfor ensuring transparency, professionalism and accountability in its dealings with its customers, principal,employees, shareholders and with every individual who comes in contact with the Company. The Company’sphilosophyonCorporateGovernanceisboundeduponarichlegacyof fairethicalgovernancepracticeswhichhasbeen in practice since the beginning. Integrity, transparency, accountability and compliancewith lawswhich arecolumnsofgoodgovernancehavealwaysbeenthehallmarkofcompany.TheCompanyisinfullcompliancewiththerequirementsofCorporateGovernanceunderListingRegulationenteredintowiththeStockExchangesandinthisregard, submits a report on themattersmentioned in the said regulation and also the practices followed by theCompanyasstatedbelow:2. BOARDOFDIRECTORSTheBoardofDirectorsofthecompanyreviewthestrategicpoliciesandcon�irmthattheyareimplementedin themannerthat isacceptableintermsoftheregulationsofthecountryandenhancestheshareholder’svalueand thecon�idenceoftheoutsidepartiesrelatingtothecompany.TheagendapapersforthemeetingsoftheBoardofDirectorsarecirculatedtoBoardmemberswithinthereasonabletimeperiod.

CompositionoftheBoard&theirResponsibility

The board of the Company consists of 6 Directors- Four Non- Executive Directors &Two ExecutiveDirectors, ofwhomthreeareIndependentDirectorsoutofwhomoneindependentWomanDirector.Thedirectorsbringtotheboard wide range of experience and skills. The category, composition, attendance of each director at the BoardMeeting, Last Annual General Meeting and the number of other directorship and chairmanship/Membership ofcommitteesofeachDirectorinvariouscompaniesason31stMarch,2019isgivenhereunder.Name of

Director

Category BoardMeetingattendedduringthe year2018-19

Attendance atthelastAGM

No. ofDirectorshipheld as on31/03/2019inother Publicand PrivateLimitedCompanies

No. of CommitteeMemberships, inother companies ason31/03/2019

AsChairman

AsMember

Mr. DeepakGoel

Executive Director (WholeTimeDirector)

5 Yes Nil Nil Nil

Mr. PraveenKumarGoel

Executive Director (WholeTimeDirector)

3 Yes 1 Nil Nil

Mr. AmitAgarwal

Non-Executive NonIndependentDirector

4 Yes 5 Nil Nil

Mr. AnkurSangal

Non-Executive IndependentDirector

4 Yes 5 1 1

Mr. ShubhakarPathak

Non-Executive IndependentDirector

2 Yes Nil

Nil Nil

Ms.Sonal Non-Executive IndependentDirector

4 Yes Nil Nil Nil



ThenamesoftheotherlistedentitieswheredirectorsoftheCompanyaredirectorsareasfollows:NameofDirector Name of other

listedentitiesCategory ofDirectorship

Member/Chairman in Committees ofBoardinotherlistedentities

Mr.DeepakGoel Nil Nil Nil

Mr. Praveen KumarGoel

Nil Nil Nil

Mr.AmitAgarwal Nil Nil Nil

Mr.AnkurSangal Agarwal DuplexBoardMillsLimited

Non ExecutiveIndependentDirector

AuditCommittee-ChairmanNominationandRemunerationCommittee-Member

Mr.ShubhakarPathak Nil Nil NilMs.Sonal Nil Nil Nil

Note:

a) Boardofdirectorofcompanycomprisesof6directorsoutofwhich2areexecutiveandother4arenonexecutivethreeofwhomarenonexecutiveindependentDirectors.

b) Number of other directorships/committee membership/ chairmanship indicated above is exclusive of

directorships,committeemembershipandchairmanshipinNeerajPaperMarketingLimited.

c) NoneoftheDirectorsoftheCompanyarerelatedtoeachother.No.ofBoardMeetingsHeldwithDatesDuringthe�inancialyear2018-19,theBoardofNeerajPaperMarketingLimitedhadmet5times.

Thedatesofthemeetingare:

30/05/2018,13/08/2018,22/10/2018,14/11/2018,13/02/2019

IndependentDirectors

The Company has compliedwith the de�inition of Independence as per Listing Regulation and according to theProvisions of section 149(6) Companies Act, 2013. The company has also obtained declarations from all theIndependentDirectorspursuanttosection149(7)oftheCompaniesAct,2013.Onthebasisofdeclarations/certi�icatesreceived,theboardcon�irmsthatinitsopinion,theIndependentDirectorsful�il theconditionsspeci�iedintheSEBI(ListingObligationsandDisclosureRequirements)Regulations,2015andareindependentoftheManagement.TrainingofIndependentDirectorsWhenever new Non-executive and Independent Directors are inducted in the Board they are introduced to ourCompany’s culture through appropriate orientation session and they are also introduced to our organizationstructure,ourbusiness,constitution,boardprocedures,ourmajorrisksandmanagementstrategy.ThetermsandconditionsofappointmentofIndependentDirectorshavebeenplacedontheCompany’swebsiteathttp://www.neerajpaper.com/index.php?page=code_conduct.



PerformanceEvaluationofnon-executiveandIndependentDirectorsTheBoardevaluatestheperformanceofNon-executiveandIndependentDirectorseveryyear.AlltheNon-executiveandIndependentDirectorsareeminentpersonalitieshavingwideexperienceinthe�ieldofbusiness,industryandadministration.TheNominationandRemunerationCommitteehaslaiddownthecriteriaforperformanceevaluationofIndependentDirectors.TheframeworkofperformanceevaluationoftheIndependentDirectorswillcapturethefollowingpoints:

A) KeyattributesoftheIDsthatjustifyhis/herextension/continuationontheBoardoftheCompany;

B) ParticipationoftheDirectorsintheBoardproceedingsandhis/hereffectiveness;TheassessmenttodeterminethekeyattributesoftheDirectorsshouldcoverthefollowing:Relevantexperienceandskills:

-abilityandwillingnesstospeakup

-abilitytocarryothers

-abilitytodisagree,standhis/hergroundTheperformanceevaluationoftheIndependentDirectorswascarriedoutbytheentireBoardexcludingthedirector

beingevaluated.TheperformanceevaluationoftheChairmanandtheNonIndependentDirectorswascarriedoutby

the IndependentDirectors.Theboardalsocarriedoutannualperformanceevaluationof theworkingof itsAudit,

Nomination and Remuneration as well as stakeholder relationship committee. The Directors expressed their

satisfactionwiththeevaluationprocess.

AstructuredquestionnairecoveringvariousaspectsoftheBoard’sfunctioningsuchasadequacyofthecomposition

of the Board and its Committees, Board culture, execution and performance of speci�ic duties, obligations and

governance was prepared after taking into consideration the Guidance note issued by SEBI vide circular no,

CMD/CIR/P/2017/004dated05.01.2017.

SeparateMeetingoftheIndependentDirectors:The Independent Directors held a Meeting on 8th February 2019 without the attendance of Non-IndependentDirectorsandmembersofManagement.AlltheIndependentDirectorswerepresentatthemeeting.Thefollowingissueswerediscussedindetail:

I) Reviewedtheperformanceofnon-independentdirectorsandtheBoardasawhole;

II) Reviewed the performance of the Chairperson of the Company, taking into account the views ofExecutiveDirectorsandNon-ExecutiveDirectors;

III) Assessed the quality, quantity and timeliness of �low of information between the Company

ManagementandtheBoardthatisnecessaryfortheBoardtoeffectivelyandreasonablyperformtheirduties.

FamiliarizationprogrammeforIndependentDirectors

Thecompanyhasformulatedapolicytofamiliarizetheindependentdirectorswiththecompany,theirroles,rights,responsibilities in the company, nature of the industry in which the company operates, business model of thecompany, etc., through various programmes.The details of such familiarisation programmes are disclosed in thewebsiteofthecompanyatthehttp://www.neerajpaper.com/index.php?page=code_conduct.



CORESKILLS/EXPERTISE/COMPETENCIESIDENTIFIEDBYTHEBOARDOFDIRECTORSTheBoard is skill-based comprisingof directorswhocollectively have the skills, knowledge and competencies toeffectivelygovernanddirecttheorganization.Thefollowingisthelistofcoreskills/expertise/competenciesidenti�iedbytheBoardofDirectorsasrequiredinthecontextoftheCompany’sbusinessandthatthesaidskillsareavailablewiththeBoardMembers:

i) Knowledge on Company’s businesses (Paper andPaper products), policies andculture (including theMission, Vision and Values) major risks / threats and potential opportunities and knowledge of theindustryinwhichtheCompanyoperates

ii) Behavioral skills - attributes and competencies to use their knowledge and skills to contributeeffectivelytothegrowthoftheCompanyinthemarket

iii) BusinessStrategy,Sales&Marketing,CorporateGovernance,Administration,DecisionMaking,

iv) FinancialandManagementskills

v) Technical/ProfessionalskillsandspecializedknowledgeinrelationtoCompany’sbusiness

Non-Executivedirector’scompensationanddisclosure

ThecompanyhaspaidsittingfeesofRs.2,500/-permeetingtoNon-Executivedirector’smaximumuptoRs.10,000/-

for a year for attending the BoardMeetings during the �inancial year 2018-19.No other remuneration has been

providedtothenon-executivedirectors.

MeetingsoftheBoardFrequency:TheBoardmeetsatleastonceaquartertoreviewthequarterlyresultsandotheritemsoftheAgenda.Whenevernecessary,additionalmeetingsareheld.Incaseofbusinessexigenciesorurgencyofmatters,resolutionsarepassedbycirculations,aspermittedbylaw,whichiscon�irmedinthenextBoardMeeting.MeetingsCalendar:Theprobabledatesof theBoard/CommitteeMeetingsfor the forthcomingyeararedecidedwellinadvanceinordertofacilitateandassisttheDirectorstoplantheirschedulesfortheMeetings.BoardMeetingLocation:ThelocationsoftheBoard/CommitteeMeetingsareinformedwellinadvancetoalltheDirectors.EachDirectorisexpectedtoattendtheBoard/CommitteeMeetings.InformationSuppliedtotheBoard/Committees:Amongothers,informationsuppliedtotheBoard/Committeesincludes:_Annualoperatingplansofbusinessesandbudgetsandanyupdatethereof._Capitalbudgetsandanyupdatesthereof._QuarterlyresultsoftheCompanyanditsoperatingdivisionsorbusinesssegment._MinutesoftheMeetingsoftheauditcommitteeandallotherCommitteesoftheBoard._ The information on recruitment and remuneration of senior of�icers just below the Board level, including theappointmentorremoval,ifany,ofChiefFinancialOf�icerandCompanySecretary.



_Showcause,demand,prosecutionnoticesandpenaltynotices,whicharemateriallyimportant._Fatalorseriousaccidents,dangerousoccurrences,anymaterialef�luentorpollutionproblems._Anymaterialdefaultin�inancialobligationstoandbytheCompanyorsubstantialnon-paymentforgoodssoldbytheCompany.

_Anyissue,whichinvolvespossiblepublicorproductliabilityclaimsofsubstantialnature,includingany judgmentor order, whichmay have passed strictures on the conduct of the Company or taken an adverse view regardinganotherenterprisethatcanhavenegativeimplicationsontheCompany._Transactionsthatinvolvesubstantialpaymenttowardsroyalty,goodwill,brandequityorintellectualproperty. _Signi�icant labour problems and their proposed solutions. Any signi�icant development in human resources /industrialrelationsfrontlikesigningofwageagreement,implementationofvoluntaryretirementschemeetc._Saleofinvestment,subsidiaries,assestswhicharematerialinnatureandnotinnormalcourseofbusiness._Makingofloansandinvestmentsofsurplusfunds._GeneralnoticesofinterestsofDirectors._Formation/ReconstitutionofBoardCommittees._Appointment,remunerationandresignationofDirectors._Dividenddeclaration,ifany._Signi�icantchangesinaccountingpoliciesandinternalcontrols._Detailsofanyjointventureorcollaborationagreement._Quarterlydetailsofforeignexchangeexposuresandthestepstakenbymanagementtolimitofadverseexchangeratemovement,ifmaterial._Non–complianceofanyregulatory,statutorynatureorlistingrequirementsandshareholders'service,suchasnon-paymentofdividend,delayinsharetransferetc._DeclarationssubmittedbyIndependentDirectorsatthetimeofappointmentandalsoannually._Appointmentofand�ixingofremunerationoftheAuditorsasrecommendedbytheAuditCommittee._Annual�inancialresultsoftheCompany,Auditors'Report,Director’sReport,CorporateGovernanceReportetc. _ComplianceCerti�icatesforallthelawsasapplicabletotheCompany.CodeofConduct

The Code of Conduct for Board of Directors and SeniorManagement Personnel (it includes allmembers of core

managementteamonelevelbelowtheexecutiveDirectorsandallthefunctionalheads,)ofNeerajPaperMarketing

Limited.(Hereinafterreferredtoas“theCompany”)incompliancewiththeprovisionsofListingRegulationsentered

intobytheCompanywiththeStockExchanges.



ThisCode seeks to provide guidance to theBoard ofDirectors and SeniorManagement Personnel tomanage the

affairoftheCompanywith:

a) Honest,fairandethicalconduct,b) Con�identialityofInformation,c) Ethicalhandlingofcon�lictsofinterestbetweenpersonalandprofessionalrelationships,d) LegalCompliance,e) ProtectionandProperUseofCorporateassetsandresources,f) Theinternalreportingtoappropriatepersonorpersonsidenti�iedbelowofviolationsofthisCode,g) AccountabilityforAdherencetothisCode.Directors and SeniorManagerial Personnelmust conduct themselves accordingly and not to indulge in improperbehaviorormoralturpitude.AlltheBoardmembersandSeniorManagementpersonnelhaveaf�irmedcompliancewiththecodeofconduct.AdeclarationsignedbytheChairmanoftheCompanytothiseffectiscontainedattheendof this report. The code of conduct is also posted on the company’s website athttp://www.neerajpaper.com/index.php?page=code_conduct.COMMITTEESOFTHEBOARDOFDIRECTORS

Ason31stMarch,2019,theCompanyhasthreecommittees:1. AuditCommittee2. NominationandRemunerationCommittee.3. StakeholderRelationshipCommitteeAllthedecisionspertainingtotheconstitutionoftheCommittees,appointmentofmembers,and�ixingoftermsofreferenceforcommitteemembersaretakenbytheBoardofDirectors.Detailsontheroleandcompositionofthesecommittees, including the number of meetings held during the �inancial year and the related attendance, areprovided below. Further, composition of various committees constituted in the company are also posted on thecompany’swebsiteathttps://www.neerajpaper.com/comp-sebi.pdf1. AUDITCOMMITTEEi) TermsofReference

ThePowersandtheroleoftheAuditCommitteeareaspertheguidelinesprovidedintheListingRegulationandSection 177 of the Companies Act 2013, which inter-alias include the overview of Company’s Financialreporting process, review of quarterly, half yearly and Annual �inancial statements, adequacy of internalcontrol, review of related party transactions etc. It also reviewsmajor accounting policies followed by thecompany.

ii)CompositionFrom1stApril,2018to31stMarch2019,theAuditCommitteecomprisedofthefollowingmembers:

1. Mr.AnkurSangal(Non-ExecutiveIndependentDirector)-Chairman2. Mr.AmitAgarwal(Non-ExecutiveDirector) -Member 3. Ms.Sonal(Non-ExecutiveIndependentDirector)-Member

iii)MeetingsandAttendanceduringtheyear:Duringthe�inancialyearended31stMarch,2018,theauditcommitteehasmet4times:

30/05/2018,13/08/2018,14/11/2018,13/02/2019.



AttendanceoftheDirectorsattheAuditCommitteeason31stMarch,2019isasfollows:

Director Category No.ofMeetingsHeld AttendedMrAnkurSangal Chairman 4 4Mr.AmitAgarwal Member 4 4Ms.Sonal Member 4 4

iv)PowerandRoleofAuditcommitteeTheroleoftheauditcommitteeincludesofthefollowing:

1. Oversightofthecompany’s�inancialreportingprocessandthedisclosureofits�inancialinformationtoensurethatthe�inancialstatementiscorrect,suf�icientandcredible;

2. Recommendationforappointment,remunerationandtermsofappointmentofauditorsofthecompany;

3. Approvalofpaymenttostatutoryauditorsforanyotherservicesrenderedbythestatutoryauditors;

4. Reviewing, with the management, the annual �inancial statements and auditor's report thereon beforesubmissiontotheboardforapproval,withparticularreferenceto:

a. MattersrequiredtobeincludedintheDirector’sResponsibilityStatementtobeincludedintheBoard’sreportintermsofclause(c)ofsub-section3ofsection134oftheCompaniesAct,2013

b. Changes,ifany,inaccountingpoliciesandpracticesandreasonsforthesame

c.Majoraccountingentriesinvolvingestimatesbasedontheexerciseofjudgmentbymanagement

d.Signi�icantadjustmentsmadeinthe�inancialstatementsarisingoutofaudit�indings

e.Compliancewithlistingandotherlegalrequirementsrelatingto�inancialstatements

f.Disclosureofanyrelatedpartytransactions

g.Modi�iedopinion(s)inthedraftauditreport

5. Reviewing, with the management, the quarterly �inancial statements before submission to the board forapproval;

6. Reviewing,withthemanagement,thestatementofuses/applicationoffundsraisedthroughanissue(publicissue,rightsissue,preferentialissue,etc.),thestatementoffundsutilizedforpurposesotherthanthosestatedintheofferdocument/prospectus/noticeandthereportsubmittedbythemonitoringagencymonitoringtheutilisationofproceedsofapublicorrights issue,andmakingappropriaterecommendationstotheBoardtotakeupstepsinthismatter;

7. Reviewandmonitortheauditor’sindependenceandperformance,andeffectivenessofauditprocess;

8. Approvaloranysubsequentmodi�icationoftransactionsofthecompanywithrelatedparties;

9. Scrutinyofinter-corporateloansandinvestments;

10. Valuationofundertakingsorassetsofthecompany,whereveritisnecessary;

11. Evaluationofinternal�inancialcontrolsandriskmanagementsystems;

12. Reviewing,with themanagement, performance of statutory and internal auditors, adequacyof the internalcontrolsystems;



13. Reviewing the adequacy of internal audit function, if any, including the structure of the internal auditdepartment, staf�ing and seniority of the of�icial heading the department, reporting structure coverage andfrequencyofinternalaudit;

14. Discussionwithinternalauditorsofanysigni�icant�indingsandfollowupthereon;

15. Reviewing the �indings of any internal investigations by the internal auditors into matters where there issuspectedfraudorirregularityorafailureofinternalcontrolsystemsofamaterialnatureandreportingthemattertotheboard;

16. Discussionwithstatutoryauditorsbeforetheauditcommences,aboutthenatureandscopeofauditaswellaspost-auditdiscussiontoascertainanyareaofconcern;

17. To look into the reasons for substantial defaults in the payment to the depositors, debenture holders,shareholders(incaseofnon-paymentofdeclareddividends)andcreditors;

18. ToreviewthefunctioningoftheWhistleBlowermechanism;

19. ApprovalofappointmentofCFO(i.e.,thewhole-timeFinanceDirectororanyotherpersonheadingthe�inancefunctionordischargingthatfunction)afterassessingthequali�ications,experienceandbackground,etc.ofthecandidate;

20. Carryingoutanyotherfunctionasismentionedinthetermsofreferenceoftheauditcommittee.

21. Toreviewtheutilizationofloansand/oradvancesfrom/investmentbytheholdingcompanyinthesubsidiaryexceedingrupees100croreor10%oftheassetsizeofthesubsidiary,whicheveris lowerincludingexistingloans/advances/investments.*

A. Theauditcommitteeshallmandatorilyreviewthefollowinginformation:1. Managementdiscussionandanalysisof�inancialconditionandresultsofoperations2. Statement of signi�icant related party transactions (as de�ined by the audit committee), submitted by

management;3. Managementletters/lettersofinternalcontrolweaknessesissuedbythestatutoryauditors;4. Internalauditreportrelatingtointernalcontrolweaknesses;5. Theappointment,removalandtermsofremunerationofthechiefinternalauditorshallbesubjecttoreview

byauditcommittee.6. Statementofdeviations:

(a) Quarterlystatementofdeviation(s) includingreport ofmonitoringagency, ifapplicable, submitted tostockexchange(s)intermsofRegulation32(1).

(b) Annual statement of funds utilized for purposes other than those stated in the offer document /prospectus/noticeintermsofRegulation32(7).

2. NOMINATION&REMUNERATIONCOMMITTEE

i) TermsofReference

The primary purpose of the Committee, among other things, is to determine and propose the following for

Board'sapproval:-

a) identifypersonswhoarequali�iedtobecomeDirectorsandwhomaybeappointedinseniormanagementpositions in accordancewith the criteria laid downand recommend to theBoard their appointment andremoval;

b) carryoutevaluationofeveryDirector'sperformancealongwiththeBoard;

*Included as per the amendment by SEBI (Listing Obligations and Disclosure Requirements) (Amendment)Regulations,2018



c) formulatethecriteriafordeterminingquali�ications,positiveattributesandindependenceofaDirectorandrecommendtotheBoardapolicyrelatingtotheremunerationoftheDirectors;keymanagerialpersonnelandotheremployees;

d) formulatethecriteriaforperformanceevaluationofIndependentDirectorsandtheBoard;e) deviseapolicyonBoarddiversity;f) Evaluate the level and composition of remuneration tobe reasonable and suf�icient to attract, retainand

motivateDirectorsofthequalityrequiredtoruntheCompanysuccessfully.g) Ensure that relationship of remuneration to performance is clear and meets appropriate performance

benchmarks;h) Whether to extend or continue the termof appointment of the independentdirector, on the basis of the

reportofperformanceevaluationofindependentdirectors.i) torecommendtotheboard,allremuneration,inwhateverform,payabletoseniormanagement.*

*Included as per the amendment by SEBI (Listing Obligations and Disclosure Requirements) (Amendment)Regulations,2018

ii) Composition

From 1st April, 2018 to 31st March 2019, the Nomination and Remuneration Committee comprised of the

followingmembers:

1. Mr.AnkurSangal(Non-Executive,IndependentDirector)-Chairman2. Ms.Sonal(Non-Executive,IndependentDirector)-Member 3. Mr.AmitAgarwal(Non-ExecutiveDirector) - Member

iii) MeetingsandAttendanceduringtheyear:

Duringthe�inancialyearended31stMarch,2019,theNomination&RemunerationCommitteehasmetonetime:10/10/2018

AttendanceoftheDirectorsattheNominationandRemunerationCommitteeason31stMarch,2019isasfollows:

Director Category No.ofMeetingsHeld AttendedMrAnkurSangal Chairman 1 1Mr.AmitAgarwal Member 1 1Ms.Sonal Member 1 1

(iv)PolicyforselectionandappointmentofDirectorsandtheirRemuneration

TheNominationandRemunerationCommitteehasadoptedapolicy forselectionof appointmentofdirectors

andtheirremuneration.Thehighlightsofthispolicyareasfollows:

1. CriteriaofselectionofNonExecutiveDirectorsa. TheNon Executive Directors shall be of high integritywith relevant expertise and experience so as to have adiverseBoardwithDirectorshaving expertise in the �ieldsofmarketing, �inance, taxation, law,governanceandgeneralmanagement.

b.IncaseofappointmentofIndependentDirectors,theCommitteeshallsatisfyitselfwithregardtotheindependent

nature of the Directors vis-a-vis the Company so as to enable the Board to discharge its function and duties

effectively.

c. The Committee shall ensure that the candidate identi�ied for appointment as aDirector is not disquali�ied for

appointmentunderSection164oftheCompaniesAct,2013.



d. The Committee shall consider the following attributes / criteria, whilst recommending to the Board the

candidatureforappointmentasDirector.

i.Quali�ication,expertiseandexperienceoftheDirectorsintheirrespective�ields;

ii.Personal,Professionalorbusinessstanding;

iii.DiversityoftheBoard.

e. In case of re-appointment ofNonExecutiveDirectors, theBoard shall take into consideration the performance

evaluationoftheDirectorandhisengagementlevel.

2. Remuneration

TheNonExecutiveDirectorsshallbeentitledtoreceiveremunerationbywayofsittingfeesforparticipationinthe

Board/Committeemeetingsandcommissionasdetailedhereunder:

i. ANonExecutiveDirector shall be entitled to receive sitting fees for eachmeeting of theBoard or Committee

meetingattendedbyhim/herathis/herdiscretionof suchsumasmaybeapprovedby theBoardofDirectors

within the overall limits prescribed under the Companies Act, 2013 and The Companies (Appointment and

RemunerationofManagerialPersonnel)Rules,2014;

ii.TheIndependentDirectorsoftheCompanyshallnotbeentitledtoparticipateintheStockOptionSchemeofthe

Company,ifany,introducedbytheCompany.

3. ManagingDirector&WholeTimeDirector-Criteriaforselection/appointment

ForthepurposeofselectionoftheManagingDirectororWholeTimeDirectortheCommitteeshallidentifypersons

of integritywhopossessrelevantexpertise,experienceandleadershipqualitiesrequiredforthepositionandshall

takeintoconsiderationrecommendation,ifany,receivedfromanymemberoftheBoard.

The Committee will also ensure that the incumbent ful�ills such other criteria with regard to age and other

quali�icationsaslaiddownundertheCompaniesAct,2013orotherapplicablelaws.

RemunerationfortheManagingDirectororWholeTimeDirector

i.Atthetimeofappointmentorre-appointment,theManagingDirectororWholeTimeDirectormaybepaidsuch

remunerationasmaybemutuallyagreedbetweentheCompany(whichincludesthenomination&Remuneration

CommitteeandtheBoardofDirectors)andtheManagingDirectororWholeTimeDirectorwithintheoveralllimits

prescribedundertheCompaniesAct,2013.

ii.TheremunerationshallbesubjecttotheapprovaloftheMembersoftheCompanyinGeneralMeeting.

iii.TheremunerationoftheManagingDirectororWholeTimeDirectorshallcompriseonlyofthe�ixedcomponent.

The�ixedcomponentshallcomprisesalary,allowances,perquisites,amenitiesandretrialbene�its.

RemunerationPolicyfortheSeniorManagementEmployees

I.IndeterminingtheremunerationoftheSeniorManagementEmployees(i.e.KMPsandseniorof�icersjustbelow

the board level) the Committee shall ensure / consider the relationship of remuneration and performance

benchmarkisclear;



II.TheManagingDirectororWholeTimeDirectorwill carryout the individualperformancereviewbasedon the

standardappraisalmatrixand shall take into account the appraisal score cardand other factorsand thereafter

shallrecommendtheannualincrementandperformanceincentivetotheCommitteeforitsreviewandapproval.

iv) DetailsofRemunerationofdirectorsDuringthe�inancialyearended31stMarch,2019,theCompanyhaspaidthefollowingremunerationtotheDirectors:

NameofDirector Category Remuneration SittingFees No. of shares

held as on

31/03/2019

Mr.DeepakGoel ExecutiveDirector 18,00,000/- Nil 11000

Mr.PraveenKumarGoel ExecutiveDirector 18,00,000/- Nil 117000

Mr.AmitAgarwal Non-ExecutiveDirector Nil 10,000/- Nil

Mr.ShubhakarPathak Non-Executive

IndependentDirector

Nil 5,000/- Nil

Mr.AnkurSangal Non-Executive

IndependentDirector

Nil 10,000/- Nil

Ms.Sonal Non-Executive

IndependentDirector

Nil 10,000/- Nil

4. STAKEHOLDERRELATIONSHIPCOMMITTEE:

i) TermsofReference

During the period under review, the Stakeholder Relationship committee scope was amended as per the

amendments by the SEBI (Listing Obligations and Disclosure Requirements)

(Amendment)Regulations,2018insertedw.e.f1stApril2019.The roleandprimarypurposeof theCommittee,

amongotherthings,isthefollowing:-

(1) To resolve the grievances of the security holders of company including complaints related to

transfer/transmission of shares, non-receipt of annual report, non-receipt of declared dividends, issue of

new/duplicatecerti�icates,generalmeetingsetc.

(2)Reviewofmeasurestakenforeffectiveexerciseofvotingrightsbyshareholders.

(3)Reviewofadherencetotheservicestandardsadoptedbythe companyinrespectofvariousservicesbeing

renderedbytheRegistrar&ShareTransferAgent.

(4)Reviewofthevariousmeasuresandinitiativestakenby thecompanyforreducingthequantumofunclaimed

dividends and ensuring timely receipt of dividend warrants/annual reports/statutory notices by the

shareholdersofthecompany.

(5)ApprovesharetransferandoverseeandreviewallmattersconnectedwithtransferofCompanySecurities.



ii) Composition

Duringtheyear,Mr.AnkurSangal,IndependentDirectorofthecompanyappointedasmemberoftheStakeholder

Relationship Committee in the Board Meeting held on 13.02.2019 and now the committee comprised of the

followingdirectorsasmembers:

Mr.AmitAgarwal(Non-ExecutiveDirector) -Chairman

Mr.DeepakGoel(WholeTimeDirector) -Member

Mr.AnkurSangal(Non-ExecutiveIndependentDirector) -Member

iii) MeetingsandAttendanceduringtheyear:

Duringthe�inancialyearended31stMarch,2019theStakeholdersRelationshipCommitteehasmet7times:

24/05/2018,11/07/2018,17/10/2018,16/11/2018,03/12/2018,10/01/2019,24/01/2019.

AttendanceoftheDirectorsattheStakeholderRelationshipCommitteeason31stMarch,2019isasfollows:

*NomeetingofSRCheldaftertheappointmentofMr.AnkurSangalasmember

Thecompanysecretaryofthecompanyisthecomplianceof�icer.Thenumberofcomplaintsreceivedfromtheshareholdersduringthelast�inancialyear-NILNumberofcomplaintsnotsolvedtothesatisfactionofshareholders-NILNumberofpendingcomplaints-NIL

BoththephysicaltransferanddematerializationofthesharesarehandledbyRegistrar&ShareTransferagentM/sBeetalFinancialandComputerServicesPrivateLimited.IntermsoftherequirementofSEBIdirectivesthecompanyisprovidingthefacilityoftransferanddematerializationofsecuritiessimultaneously.RiskManagementTheAuditCommitteeregularlyreviewstheriskmanagementstrategyoftheCompanytoensuretheeffectivenessofriskmanagementpoliciesandprocedures.

GENERALBODYMEETINGS:

i) Locationandtime,wherelastthreeAGMheld&Specialresolutionpassedintheprevious3AGMs.AGM DATE LOCATION TIME SPECIAL RESOLUTION

PASSEDINAGM

23rdAGM 26.09.2018 BipinChandraPalMemorialBhavan,A-81,ChittranjanPark,NewDelhi-19

11:00AM 1) Alteration of Memorandum

of Association of the

Company

Director Category No.ofMeetingsheld Attended

Mr.AmitAgarwal Chairman 7 7

Mr.DeepakGoel Member 7 7

Mr.AnkurSangal* Member - -



22ndAGM 28.09.2017 BipinChandraPalMemorialBhavan,A-81,ChittranjanPark,NewDelhi-19

11:30AM N.A.

21stAGM 29.09.16 BipinChandraPalMemorialBhavan,A-81,ChittranjanPark,NewDelhi-19

11:00AM N.A.

ii) DETAIL OF VOTING PATTERN OF SPECIAL RESOLUTION PASSED BY POSTAL BALLOT LAST YEAR - No

resolutionwaspassedbypostalballotduringthelastyear.MEANSOFCOMMUNICATION:ThequarterlyresultsaspertheformatprescribedbytheStockExchangeforthequarterended30thJune2018and

30thSeptember2018werepublishedintheVeerArjunandPioneerandforquarterended31stDecember2018and

31stMarch2019werepublishedinFinancialExpressandJansattaandarealsosubmittedtoalltheStockExchanges

where the Company’s shares are listed. Further these results are also available on our website

www.neerajpaper.com.YourCompanybelievesthatallthestakeholdersshouldhaveaccesstoadequateinformation

about the Company. All information,which could have amaterial bearing on the share prices, is released at the

earliest to all the stock exchangewhere the share of company are listed in accordancewith the requirements of

listingagreement.

GENERALSHAREHOLDERINFORMATION

Registeredof�ice 218-222,2ndFloor,AggarwalPrestigeMall,PlotNo.2,Community

Centre,AlongRoadno.44,Pitampura,Delhi-110034

AnnualGeneralMeeting

Date 30thSeptember,2019

Time 11.00A.M

Venue BipinChandraPalMemorialBhavan,A-81,ChittranjanPark,NewDelhi-110019

FinancialYear 1stAprilto31stMarch

Adoption of �inancial results(Tentative)

FortheQuarterended30thJune,2019 OnorBefore14thAugust2019

For the Quarter ended 30th September,

2019

OnandBefore14thNovember,2019

For the Quarter ended 31st December,

2019

OnandBefore14thFebruary,2020



FortheQuarterended31stMarch,2020 OnandBefore30thMay,2020

DateofBookClosure From Monday 23/09/2019 to Monday 30/09/2019 (Both days

inclusive)

Dividendpaymentdate Notapplicable

ListingofsharesonStockExchanges BSELimited–PJTowers,DalalStreet,Mumbai–400001

AhmedabadStockExchangeLimited–KamdhenuComplex,Opp.

SahajanandCollege,PanjaraPole,Amdawadi,Ahmedabad–380015

Listingfeesasapplicablehavebeenpaid.

StockCode BSELtd-539409

NSDL/CDSLISIN ISINNo–INE894J01019

RevisionofCreditRating

Duringtheperiodunderreview,thecompanyhasobtainedcreditratingfromIndiaRatings&Researchinwhichthe

ratingofthecompanyhasrevisedtoNegativefromStablewhileaf�irmingitsLongTermIssuerratingat‘INDBB+’.

Theinstrument-wiseratingactionsareasfollows:

InstrumentType Rating/Outlook RatingAction

Fund Based Working Capital

Limits

INDBB/Negative/INDA4+ Rating af�irmed; Outlook revised

toNegativefromStable

Non-FundBasedWorkingCapital

Limits

INDA4+ Af�irmed

OTHERDISCLOSURESDisclosure on materially signi�icant related party transactions that may have potential con�lict with theinterestsoftheCompany.There were no materially signi�icant related party transactions with the Company's Promoters, Directors,Managementortheirrelatives,whichcouldhavehadapotentialcon�lictwiththeinterestsoftheCompany.

TransactionswithrelatedpartiesenteredintobytheCompanywereintheordinarycourseofbusinessandonanArm’slengthbasis.TheseareperiodicallyplacedbeforetheAuditCommitteeforreview. Particularsofcontractsorarrangements or transactions inFormAOC-2 isattachedasAnnexure–III ofBoardReport.Membersmayalsorefertothenotestotheaccountsfordetailsofrelatedpartytransactions.TheBoardofDirectorsoftheCompanyhas,on the recommendation of the Audit Committee, adopted a policy on dealingwith related party Transactions toregulatetransactionsbetweentheCompanyanditsRelatedParties,incompliancewiththeapplicableprovisionsoftheCompaniesAct2013,theRulesthereunderandtheListingAgreement.ThepolicyhasalsobeenuploadedonthewebsiteoftheCompanyathttp://www.neerajpaper.com/index.php?page=code_conduct



DisclosureofAccountingTreatment The Company followed the guidelines as laid down in the IND-AS, prescribed by the Institute of CharteredAccountantsofIndia,forthepreparationofthe�inancialstatements. Detailsofnon-compliancebythecompany,penaltiesimposedonthecompanybystockexchangeorSEBIor

anystatutoryauthority,onanymatterrelatedtothecapitalmarket,duringthelast3years.

IntermsoftheSEBIcircularno:CIR/CFD/CMD/12/2015datedNovember30,2015,inthematterofnoncompliance

ofRegulation33forlatesubmissionofFinancialresultsforthequarterendedMarch2018,BombayStockExchange

(BSE)imposedthepenaltyonthecompanyfortheamountofRs.10,000/-.Howeverthisdefaultswasmadedueto

thetechnicalerrorofthesystem&companyhaspaidtheentirepenaltyamount.

WhistleBlowerPolicy

InPursuanttoListingRegulationandasperSection177oftheCompaniesAct,2013,thecompanyhasestablisheda vigil mechanism/Whistle Blower policy for the directors and employees to report genuine concerns orgrievancesaboutunethicalbehaviour,actualorsuspectedfraudorviolationofthecompany’sCodeofConductorEthics Policy. The Vigil Mechanism Policy has been uploaded on the website of the Company athttp://www.neerajpaper.com/index.php?page=vigil_mechanism.During the year under review, no employeewasdeniedaccesstotheAuditCommittee.Compliancewithmandatoryrequirementsandadoptionofthenon-mandatoryrequirements

MandatoryRequirements

TheCompanyhascompliedwithalltheapplicablemandatoryrequirementsasprovidedinSEBI(ListingObligations&DisclosureRequirements)Regulations,2015.Adoptionofnon-mandatoryrequirementsunderListingAgreementi)TheBoard:Sincethecompanydoesnothaveanonexecutivechairmanitdoesnotmaintainsuchof�ice.ii)ShareholdersRights:Thequarterly�inancialresultsarepublishedinwidelycirculateddailiesandalsouploadedonCompany’swebsite.iii)AuditQuali�ication:Duringtheyearunderreview,therewasnoauditquali�icationintheAuditors'ReportontheCompany's�inancialstatements.iv)SeparatepostsofChairmanandCEO:ThecompanydoesnothaveaCEOandthereforetherearenoseparateposts.v)ReportingofInternalAuditor:Theinternalauditorreportstoauditcommittee.

Weblinkwherepolicyfordeterminingmaterialsubsidiariesisdisclosed



Notapplicableasthereisnosubsidiaryofthecompany.

Weblinkwherepolicyondealingwithrelatedpartytransactions

https://www.neerajpaper.com/POLICY%20FOR%20RELATED%20PARTY%20TRANSACTION-2.pdf

CommodityPriceRiskandCommodityHedgingactivities

Company is engaged in trading activity and no manufacturing activity is carried out in the company. Thus, no

commoditypriceriskisthereinthecompanyandnohedgingactivitiesarerequiredforthesame.

Certi�icatefromPracticingCompanySecretary

Thecerti�icatefromPracticingCompanySecretarythatnoneofthedirectorsontheboardofthecompanyhavebeen

debarred or disquali�ied frombeing appointed or continuing asdirectors of companiesby theBoard/Ministry of

CorporateAffairsoranysuchstatutoryauthorityisannexedherewith.

TotalFeespaidforallservicestoStatutoryAuditorsoftheCompany

The total fees for all services paid by the listed entity to the statutory auditor and all entities in the network

�irm/networkentityofwhichthestatutoryauditorisapartisRs.1.75Lacs.

DisclosuresundertheSexualHarassmentofWomenatWorkplace(Prevention,ProhibitionandRedressal)

Act,2013:

a)No.ofcomplaints�iledduringtheyear:Nil

b)No.ofcomplaintsdisposedduringtheyear:Nil

c)No.ofcomplaintspendingasonendofthe�inancialyear:Nil

MarketPriceData:High,Lowduringeachmonthinlast�inancialYear*

(Rs.Pershare)

BSELtd.

MONTH HIGH LOW

April,2018 16 14.45

May,2018 15.17 14.45

June,2018 15.09 15.09

July,2018 15.8 15.09

Aug,2018 15.8 14.3

Sep,2018 19.4 15.75

October,2018 22.4 19.4

November,2018 20.25 17.4

December,2018 17.4 16.55

January,2019 17.4 16.55

February,2019 17.3 16.5

March,2019 16.45 13.5

SumitAmit

Typewritten Text

SumitAmit

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SumitAmit

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SumitAmit

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SumitAmit

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*Source - www.bseindia.com No trading of shares was done at Ahmedabad Stock Exchange Limited

SumitAmit

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SumitAmit

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SumitAmit

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PerformanceincomparisontobroadbasedindicessuchasBSESensex:*

*Source-www.bseindia.com

Registrar&ShareTransferAgentBeetalFinancialandComputerServicesPvtLimited,

BeetalHouse,3rdFloor,99,Madangir,

BehindLocalShoppingCenter,

NearDadaHarsukhdasMandir,NewDelhi-110062

0

5000

10000

15000

20000

25000

30000

35000

40000

45000

BSE

SEN

SEX

Company Share Price & BSE Sensex

Close Price of NPML

Close Price of BSE SENSEX

CLOSINGPRICE

MONTH BSESENSEX NEERAJPAPERMARKETINGLTD.

April,2018 35160.36 14.45

May,2018 35322.38 15.09

June,2018 35423.48 15.09

July,2018 37606.58 15.8

Aug,2018 38645.07 15.75

Sep,2018 36227.14 19

October,2018 34442.05 21.3

November,2018 36194.3 17.4

December,2018 36068.33 16.55

January,2019 36256.69 16.55

February,2019 35867.44 17.3

March,2019 38672.91 13.5



ShareTransferSystemThepowertoapprovethetransferofsecuritieshasbeendelegatedbytheBoardtotheShareTransferAgents.Sharetransferrequestsareprocessedwithinanaverageof15daysfromthedateofreceipt.Shareholdersareencouragedtooptfordematerialisationofthephysicalsharesinwhichcaseelectroniccreditismade.Itshouldbenotedthat:_TheauthorityrelatingtosharetransfershasbeendelegatedtotheStakeholders'RelationshipCommittee_TheBoardhasauthorisedtheRegistrar&ShareTransferAgents ‘BeetalFinancialandComputerServicesPrivateLimited’toapproveallroutinetransfersandtransmissionsofshareswhichareeffectedwithin15days.DistributionofShareholdingTheDistributionoftheshareholdingoftheequitysharesason31stMarch,2019areasfollows:

NoofEquity

sharesheld

No.of

shareholders

%ofshare

holders

Totalnumberof

shares%ofshareholding

1–5000 2186 77.46 733102 6.67

5001-10000 237 8.39 200065 1.81

10001-20000 218 7.72 359009 3.27

20001–30000 54 1.91 133135 1.21

30001–40000 22 0.77 79700 0.72

40001–50000 24 0.85 102000 0.92

50001-100000 31 1.09 236064 2.15

100001&above 50 1.77 9156925 83.25

Total 2822 100.00 11000000 100

CategoriesofShareholdersason31stMarch,2019

Category Totalnoofshares %ofshareholding

Promoters/Relatives/PromotersCompanies 3061704 27.83

FinancialInstitutions/Banks - -

FIIs - -

MutualFunds - -

PrivateCorporatebodies 5960262 54.19

IndianPublic 1978034 17.98



`NRI/OCBs - -

Others - -

Total 11000000 100

DematerializationofsharesandLiquidity

The tradingof thesharesof thecompany ispermitted indematerialization formasper thenoti�ication issuedbySEBI.ThecompanyhasenteredintoagreementwithNSDLandCDSLforgivingeffecttothesame.

OutstandingGDR/ADRs/Warrants/Options

TheCompanyhasnotissuedGDRsorADRs.Therearenooutstandingwarrantsoranyconvertibleinstruments.

PlantLocations

Companyisinvolvedinthetradingbusinessonlyandthusthereisnomanufacturingplantofthecompany.

AddressforCorrespondence

For share certi�icate, change of address and

anyotherqueryrelatingtotheshares

M/sBeetalFinancialandComputerServicesPvtLtd;

BeetalHouse,3rdFloor,99,Madangir,BehindLocalShopping

Center,NearDadaHarsukhdasMandir,NewDelhi-110062

ForInvestorAssistance Ms.MansiTanejaCompanySecretary218-222, 2nd Floor, Aggarwal Prestige Mall, Plot No. 2,

Community Centre, Along Road no. 44, Pitampura, Delhi-

110034

Emailid:[email protected].:011-47527700

Disclosureswithrespecttodematsuspenseaccount/unclaimedsuspenseaccountTheCompanyhasnosharesinthedematsuspenseaccountorunclaimedsuspenseaccount,hencetheabovedisclosureisnotapplicable.CEO/CFOCerti�icateThe Whole Time Director and the CFO have furnished the requisite certi�icate to the Board of Directors underRegulation17(8)oftheSEBI(ListingObligationsandDisclosureRequirements)Regulations,2015.



CompliancewithMandatoryRequirementsThe Company has complied with all the mandatory corporate governance requirements under the ListingRegulations.Further,thecompanycon�irmsthecompliancewiththerequirementsspeci�iedinregulation17to27andclauses(b)to(i)ofsub-regulation(2)ofregulation46ofSEBI(ListingObligationsandDisclosureRequirements)Regulations,2015.CORPORATEGOVERNANCECOMPLIANCEThe company has complied with the Para E of Schedule V of the SEBI (Listing Obligations and DisclosureRequirements)Regulations,2015 forthepurposeofensuringCorporateGovernance.Acerti�icatetothiseffecthasbeenobtained fromM/sRajeevSinghal&Co.,CharteredAccountants;StatutoryAuditorof thecompanyhasbeenattachedtothisAnnualReport.Note:TheCorporateGovernancereportisason31stMarch,2019



CERTIFICATIONFROMPRACTICINGCOMPANYSECRETARY(PURSUANTTOCLAUSE10OFPARTCOFSCHEDULEVOFSEBI(LISTINGOBLIGATIONANDDISCLOSUREREQUIREMENT)REGULATIONS,2015)

We have examined the relevant registers, records, forms, returns and disclosures received from Neeraj PaperMarketing Limited having CIN L74899DL1995PLC066194 (hereinafter referred to as ‘the Company’), producedbeforeusbytheCompanyforthepurposeofissuingthisCerti�icate,inaccordancewithRegulation34(3)readwithSchedule V Para-C Sub clause 10 of the Securities Exchange Board of India (Listing Obligations and DisclosureRequirements)Regulations,2015.InouropinionandtothebestofourinformationandaccordingtotheexplanationsgiventousandthedeclarationsasreceivedfromtheDirectorsoftheCompanyinthisregard,wecertifythat:“noneoftheDirectorsontheBoardofDirectorsoftheCompanyfortheFinancialyearendingon31stMarch2019havebeendebarredordisquali�iedfrombeingappointedorcontinuingasDirectorsoftheCompanybytheSecuritiesandExchangeBoardofIndia/MinistryofCorporateAffairsoranysuchstatutoryauthority”Ensuringtheeligibilityoffortheappointment/continuityofeveryDirectorontheBoardistheresponsibilityofthemanagementof theCompany.Ourresponsibility is toexpressanopinionon thesebasedonourveri�ication.Thiscerti�icateisneitheranassuranceastothefutureviabilityoftheCompanynoroftheef�iciencyoreffectivenesswithwhichthemanagementhasconductedtheaffairsoftheCompany.


S/d

ShaillyGoelDATED:13THAUGUST2019 CompanySecretary PLACE:DELHI

MembershipNo.-FCS8769C.PNo-9196



CERTIFICATION UNDER REGULATION 17(8) OF SEBI (LISTING OBLIGATION AND DISCLOSUREREQUIREMENT)REGULATIONS,2015(a) Thatwehavereviewedthe�inancialstatementsandthecash�lowstatementfortheyearending31stMarch,

2019andthattothebestoftheirknowledgeandbelief:(i) These statements do not contain any materially untrue statement or omit any material fact or

containstatementsthatmightbemisleading;

(ii) These statements together present a true and fair view of the company’s affairs and are incompliancewithexistingaccountingstandards,applicablelawsandregulations.

(b) Thattothebestofourknowledgeandbelief,therearenotransactionsenteredintobythecompanyduringtheyear,whicharefraudulent,illegalorviolativeofthecompany’scodeofconduct.

(c) Thatweacceptresponsibilityforestablishingandmaintaininginternalcontrolsfor�inancialreportingandthatwehaveevaluatedtheeffectivenessofinternalcontrolsystemsofthecompanypertainingto�inancialreporting and we have disclosed to the auditors and the Audit Committee, de�iciencies in the design oroperationofsuchinternalcontrols,ifany,ofwhichweareawareandthestepstheyhavetakenorproposetotaketorectifythesede�iciencies.

(d) ThatwehadindicatedtotheauditorsandtheAuditcommittee–(i) Signi�icantchangesininternalcontrolover�inancialreportingduringtheyear;(ii) Signi�icantchangesinaccountingPoliciesduringtheyearandthatthesamehavebeendisclosedin

thenotestothe�inancialstatements;and(iii) Instancesofsigni�icantfraudofwhichwehavebecomeawareandtheinvolvementtherein,ifany,of

themanagementorotheremployeeswhohaveasigni�icantroleinthecompany’sinternalcontrolsystemsover�inancialreporting.

FORNEERAJPAPERMARKETINGLIMITED FORNEERAJPAPERMARKETINGLIMITED

SD/- SD/-DEEPAKGOEL VIPINGOELWHOLETIMEDIRECTOR CHIEFFINANCIALOFFICERDIN:00200527

DATED:13THAUGUST2019 PLACE:DELHI



DECLARATIONBYTHEWHOLETIMEDIRECTORONTHECOMPLIANCEOFTHECODEOFCONDUCTASLAID

DOWNBYTHEBOARDOFDIRECTORSOFTHECOMPANY

I,DEEPAKGOEL,Whole Time Director of Neeraj PaperMarketing Limited hereby certify that the Directors and

membersofseniormanagementhaveaf�irmedthecompliancewiththecodeofconduct.

Theabovesubmissionisbasedonthedeclarationsasreceivedfromthememberstowhomthecodeappliesandalso

onthebasisofthesubmissionofthecomplianceof�icertothecode.

FORNEERAJPAPERMARKETINGLIMITED

DATED:13THAUGUST2019 PLACE:DELHISD/- DEEPAKGOEL (WHOLETIMEDIRECTOR)

DIN:00200527



AUDITORS’CERTIFICATEONCORPORATEGOVERNANCE

TotheMembersofNEERAJPAPERMARKETINGLIMITED

We have examined the compliance of the conditions of Corporate Governance by NEERAJ PAPERMARKETINGLIMITED during the year ended 31stMarch, 2019 as stipulated in Chapter IV read with Schedule V of the SEBI(ListingObligationAndDisclosureRequirement)Regulations,2015ofthesaidCompanywiththeStockExchanges.ThecomplianceoftheconditionsofCorporateGovernanceistheresponsibilityofthemanagement.Ourexaminationwas limited to the review of the procedures and implementation thereof, adopted by the Company for ensuringcompliancewiththeconditionsofCorporateGovernance.Itisneitheranauditnoranexpressionofopiniononthe�inancialstatementofthecompany.Inouropinionandtothebestofour informationandexplanationgiventousbythecompany,wecertifythattheCompanyhascompliedwith theconditionsofCorporateGovernanceas stipulated in theabove-mentionedListingAgreementorSEBIRegulations,asandwhenapplicable.We further state that such compliance is neither an assurance as to the future viability of the Company nor theef�iciencyoreffectivenesswithwhichtheManagementhasconductedtheaffairsoftheCompany.

FORM/S.RAJEEVSINGAL&CO.FIRMREGISTRATIONNO:008692C

CHARTEREDACCOUNTANT

Sd/-

(CASUNILKUMAR)DATED:13THAUGUST2019 PARTNERPLACE:DELHIMEMBERSHIPNO.408730



INDEPENDENTAUDITOR’SREPORT

TOTHEMEMBERSOFNEERAJPAPERMARKETINGLIMITED

ReportontheAuditoftheStandaloneFinancialStatementsOpinion

We have audited the accompanying standalone �inancial statements of Neeraj Paper Marketing Limited (“the

Company”),whichcomprisetheBalanceSheetasatMarch31,2019,theStatementofPro�itandLoss(includingOther

ComprehensiveIncome),theStatementofChangesinEquityandtheStatementofCashFlowsfortheyearendedonthat

date,andasummaryofthesigni�icantaccountingpoliciesandotherexplanatoryinformation(hereinafterreferredto as

“thestandalone�inancial statements”).

Inouropinionandtothebestofourinformationandaccordingtotheexplanationsgiventous,theaforesaidstandalone

�inancialstatementsgivetheinformationrequiredbytheCompaniesAct,2013(“theAct”)inthemannersorequired

andgiveatrueandfairviewinconformitywiththeIndianAccountingStandardsprescribedundersection133ofthe

ActreadwiththeCompanies(IndianAccountingStandards)Rules,2015,asamended,(“IndAS”)andotheraccounting

principlesgenerallyacceptedinIndia,ofthestateofaffairsoftheCompanyasatMarch31,2019,thepro�itandtotal

comprehensiveincome,changesinequityanditscash�lowsfortheyearendedonthatdate.

BasisforOpinion

Weconductedourauditofthestandalone�inancialstatements inaccordancewiththeStandardsonAuditingspeci�ied

undersection143(10)oftheAct(SAs).OurresponsibilitiesunderthoseStandardsarefurtherdescribedintheAuditor’s

ResponsibilitiesfortheAuditoftheStandaloneFinancialStatementssectionofourreport.Weareindependentofthe

Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI)

togetherwith the independence requirements that are relevant to our audit of the standalone �inancial statements

undertheprovisionsoftheActandtheRulesmadethereunder,andwehaveful�illedourotherethicalresponsibilitiesin

accordancewiththeserequirementsandtheICAI’sCodeofEthics.Webelievethattheauditevidencewehaveobtained

issuf�icientandappropriatetoprovideabasisforourauditopiniononthestandalone�inancialstatements.

KeyAuditMatters

Key auditmattersare thosematters that, inourprofessional judgment,were ofmostsigni�icance inourauditof the

standalone�inancialstatementsofthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthe

standalone �inancial statements as a whole, and in forming our opinion thereon, and we do not provide a separate

opiniononthesematters.

InformationOtherthantheStandaloneFinancialStatementsandAuditor’sReportThereon

TheCompany’sBoardofDirectors isresponsiblefor thepreparationof theother information.Theother information

comprisestheinformationincludedintheManagementDiscussionandAnalysis,Board’sReportincludingAnnexureto

Board’s Report, Business ResponsibilityReport, Corporate Governance and Shareholder’s Information, but does not

includethestandalone�inancialstatementsandourauditor’sreportthereon.

Ouropiniononthestandalone�inancialstatementsdoesnotcover theother informationandwedonotexpressany

formofassuranceconclusionthereon.

Inconnectionwithourauditofthestandalone�inancialstatements,ourresponsibilityistoreadtheotherinformation

and, indoing so, considerwhether the other information ismaterially inconsistent with the standalone �inancial

statementsorourknowledgeobtainedduringthecourseofourauditorotherwiseappearstobemateriallymisstated.

If,basedontheworkwehaveperformed,weconcludethatthereisamaterialmisstatementofthisotherinformation;



wearerequiredtoreportthatfact.Wehavenothingtoreportinthisregard.

Management’sResponsibilityfortheStandaloneFinancialStatements

TheCompany’sBoardofDirectorsisresponsibleforthemattersstatedinsection134(5)oftheActwithrespectto

thepreparationofthesestandalone�inancialstatementsthat givea trueand fairviewofthe�inancialposition,

�inancialperformance,totalcomprehensiveincome,changesinequityandcash�lowsoftheCompanyinaccordance

with the Ind AS and other accounting principles generally accepted in India. This responsibility also includes

maintenanceofadequateaccountingrecordsinaccordancewiththeprovisionsoftheActforsafeguardingtheassets

oftheCompanyandforpreventinganddetectingfraudsandotherirregularities;selectionandapplicationofappropriate

accountingpolicies;makingjudgmentsandestimatesthatarereasonableandprudent;anddesign,implementationand

maintenance of adequate internal �inancial controls, that were operating effectively for ensuring the accuracy and

completeness of the accounting records, relevant to the preparation and presentation of the standalone �inancial

statementsthatgiveatrueandfairviewandarefreefrommaterialmisstatement,whetherduetofraudorerror.

In preparing the standalone �inancial statements,management isresponsible for assessing theCompany’sability to

continueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcern

basisofaccountingunlessmanagementeitherintendstoliquidatetheCompanyortoceaseoperations,orhasnorealistic

alternativebuttodoso.

ThoseBoardofDirectorsarealsoresponsibleforoverseeingtheCompany’s�inancialreportingprocess.

Auditor’sResponsibilitiesfortheAuditoftheStandaloneFinancialStatements

Ourobjectivesaretoobtainreasonableassuranceaboutwhether thestandalone�inancialstatementsasawholeare

free frommaterialmisstatement,whether due to fraud or error, and to issuean auditor’s report that includesour

opinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordance

withSAswillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorand

areconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoin�luencetheeconomic

decisionsofuserstakenonthebasisofthesestandalone�inancial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional

skepticismthroughouttheaudit.Wealso:

� Identifyandassesstherisksofmaterialmisstatementofthestandalone�inancialstatements,whetherduetofraud

or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is

suf�icient and appropriate to providea basis for ouropinion.The risk of notdetecting amaterialmisstatement

resultingfromfraudishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery,intentional

omissions,misrepresentations,ortheoverrideofinternal control.

� Obtainanunderstandingofinternal�inancialcontrolsrelevanttotheauditinordertodesignauditproceduresthat

areappropriateinthecircumstances.Undersection143(3)(i)oftheAct,wearealsoresponsibleforexpressing

ouropiniononwhether theCompanyhasadequate internal�inancialcontrolssystem inplaceandtheoperating

effectivenessofsuchcontrols.

� Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and

relateddisclosuresmadebymanagement.

� Concludeontheappropriatenessofmanagement’suseofthegoingconcernbasisofaccountingand,basedonthe



audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast

signi�icantdoubtontheCompany’sabilitytocontinueasagoingconcern.Ifweconcludethatamaterialuncertainty

exists, we are required to draw attention in our auditor’s report to the related disclosures in the standalone

�inancialstatementsor,ifsuchdisclosuresareinadequate,tomodifyouropinion.Ourconclusionsarebasedonthe

auditevidenceobtaineduptothedateofourauditor’sreport.However,futureeventsorconditionsmaycausethe

Companytoceasetocontinueasagoingconcern.

� Evaluate the overall presentation, structure and content of the standalone �inancial statements, including the

disclosures,andwhetherthestandalone�inancialstatementsrepresenttheunderlyingtransactionsandeventsin

amannerthatachievesfairpresentation.

Materialityisthemagnitudeofmisstatementsinthestandalone�inancialstatements that, individuallyorinaggregate,

makesitprobablethattheeconomicdecisionsofareasonablyknowledgeableuserofthe�inancialstatementsmaybe

in�luenced.Weconsiderquantitativematerialityandqualitative factorsin(i)planningthescopeofourauditworkandin

evaluating the results of our work; and (ii) to evaluate the effect of any identi�ied misstatements in the �inancial

statements.

Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingof

theauditandsigni�icant audit�indings,includinganysigni�icantde�icienciesininternalcontrolthatweidentifyduringour

audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical

requirements regarding independence, and to communicatewith themallrelationshipsand othermatters thatmay

reasonablybethoughttobearonourindependence,andwhereapplicable,relatedsafeguards.

Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmost

signi�icanceintheauditofthestandalone�inancialstatements ofthecurrentperiodandare therefore thekeyaudit

matters.Wedescribethesemattersinourauditor’sreportunlesslaworregulationprecludespublicdisclosureaboutthe

matter orwhen, inextremely rare circumstances, we determine that amatter shouldnotbecommunicated inour

reportbecause theadverse consequences ofdoingsowouldreasonablybeexpected tooutweighthepublicinterest

bene�itsofsuchcommunication.

ReportonOtherLegalandRegulatoryRequirements

1. AsrequiredbySection143(3)oftheAct,basedonourauditwereport that:

a) Wehavesoughtandobtainedalltheinformationandexplanationswhichtothe best of our knowledge and

beliefwerenecessaryforthepurposesofouraudit.

b) Inouropinion,properbooksofaccountasrequiredbylawhavebeenkeptbytheCompanysofarasitappears

fromourexaminationofthosebooks.

c) TheBalance Sheet, theStatement ofPro�it and Loss includingOther Comprehensive Income, Statement of

ChangesinEquityandtheStatementofCashFlowdealtwithbythisReportareinagreementwiththebooksof

account.

d) Inouropinion,theaforesaidstandalone�inancialstatementscomplywiththeIndASspeci�iedunderSection

133oftheAct,readwithRule7oftheCompanies(Accounts)Rules,2014.

e) On the basis of thewritten representations received from the directors as onMarch 31, 2019 taken on

record by the Board of Directors, none of the directors is disquali�ied as on March 31, 2019 from being

appointedasadirectorintermsofSection164(2)oftheAct.

f) Withrespecttotheadequacyoftheinternal�inancialcontrolsover�inancialreportingoftheCompanyandthe

operatingeffectivenessofsuchcontrols,refertoourseparateReportin“AnnexureA”.Ourreportexpresses

an unmodi�ied opinion on the adequacy and operating effectiveness of the Company’s internal �inancial

controlsover�inancialreporting.



g) Withrespect to theothermatters to be includedintheAuditor’sReport inaccordancewithRule11of the

Companies(AuditandAuditors)Rules,2014,asamendedinouropinionandtothebestofourinformationand

accordingtotheexplanationsgiventous:

i. TheCompanyhasdisclosedtheimpactofpendinglitigationsonits�inancialpositioninitsstandalone

�inancialstatements.

ii. TheCompanyhasmadeprovision,asrequiredundertheapplicablelaworaccountingstandards,for

materialforeseeablelosses,ifany,onlong-termcontractsincludingderivativecontracts.

iii. Therehasbeennodelayintransferringamounts,requiredtobetransferred,totheInvestor

EducationandProtectionFundbytheCompany.

2. AsrequiredbytheCompanies(Auditor’sReport)Order,2016(“theOrder”)issuedbytheCentralGovernmentin

termsofSection143(11)oftheAct,wegivein“AnnexureB”astatementonthemattersspeci�iedinparagraphs3

and4oftheOrder.

FORM/SRAJEEVSINGAL&CO.

FirmRegistrationNo.008692C

CharteredAccountants

Place:Delhi

Dated30thMay2019

CASUNILKUMAR

Partner

M.No.408730

Sd/-



ANNEXURE“A”TOTHEINDEPENDENTAUDITOR’SREPORT

(Referred to inparagraph1(f)under‘ReportonOtherLegalandRegulatoryRequirements’ section ofour

reporttotheMembersofNeerajPaperMarketingLimitedofevendate)

ReportontheInternalFinancialControlsOverFinancialReportingunderClause(i)ofSub-section3

ofSection143oftheCompaniesAct,2013(“theAct”)

Wehaveaudited the internal �inancial controlsover �inancial reportingofNEERAJPAPERMARKETING

LIMITED(“theCompany”)asofMarch31,2019inconjunctionwithourauditofthestandalone �inancial

statementsoftheCompanyfortheyearendedonthatdate.

Management’sResponsibilityforInternalFinancialControls

The Board of Directors of the Company is responsible for establishing andmaintaining internal �inancial

controls based on the internal control over �inancial reporting criteria established by the Company

considering theessentialcomponentsofinternalcontrolstated intheGuidanceNoteonAuditof Internal

FinancialControlsoverFinancialReportingissuedbytheInstituteofCharteredAccountantsofIndia.These

responsibilities includethedesign,implementation andmaintenanceofadequateinternal�inancialcontrols

thatwere operating effectively forensuring the orderly and ef�icient conduct of its business, including

adherencetorespectivecompany’spolicies,thesafeguardingofitsassets,thepreventionanddetectionof

fraudsanderrors,theaccuracyandcompletenessoftheaccountingrecords,andthetimelypreparationof

reliable�inancialinformation,asrequiredundertheCompaniesAct,2013.

Auditor’s Responsibility

Ourresponsibilityistoexpressanopinionontheinternal�inancialcontrolsover�inancialreportingof the

Companybasedonouraudit.Weconducted ouraudit inaccordancewith theGuidanceNoteonAuditof

Internal Financial Controls Over Financial Reporting (the “Guidance Note”) issued by the Institute of

Chartered Accountants of India and the StandardsonAuditing prescribed under Section143(10) of the

Companies Act,2013,totheextentapplicabletoanauditofinternal�inancialcontrols.ThoseStandardsand

theGuidance Note require that we complywith ethical requirements and plan and perform the audit to

obtainreasonableassurance aboutwhether adequate internal �inancial controlsover �inancial reporting

wasestablishedandmaintainedandifsuchcontrolsoperatedeffectivelyinallmaterialrespects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal

�inancial controls systemover �inancial reportingandtheiroperating effectiveness.Ourauditof internal

�inancial controls over �inancial reporting included obtaining an understanding of internal �inancial

controls over �inancial reporting, assessing the risk that a material weakness exists, and testing and

evaluating the design and operating effectiveness of internal control based on the assessed risk. The

proceduresselecteddepend on the auditor’s judgment, including the assessment of the risks ofmaterial

misstatementofthe�inancialstatements,whetherduetofraudorerror.

Webelievethattheauditevidencewehaveobtainedissuf�icientandappropriate toprovideabasisforour

auditopinionontheinternal�inancialcontrolssystemover�inancialreportingoftheCompany.

MeaningofInternalFinancialControlsoverFinancialReporting

Acompany’sinternal�inancialcontrolover�inancialreportingisaprocessdesignedtoprovidereasonable



assurance regarding the reliability of �inancial reporting and the preparation of �inancial statements for

external purposes in accordance with generally accepted accounting principles. A company’s internal

�inancial control over �inancial reporting includes those policies and procedures that (1) pertain to the

maintenance of records that, in reasonable detail, accurately and fairly re�lect the transactions and

dispositionsoftheassetsofthecompany;(2)providereasonableassurancethattransactionsarerecorded

as necessary to permit preparation of �inancial statements in accordance with generally accepted

accounting principles, and that receipts and expenditures of the company are being made only in

accordancewith authorizationsofmanagement anddirectorsofthecompany;and(3)provide reasonable

assuranceregardingpreventionor timelydetectionofunauthorizedacquisition,use,ordispositionof the

company’sassetsthatcouldhaveamaterialeffectonthe�inancialstatements.

LimitationsofInternalFinancialControlsoverFinancial Reporting

Because of the inherent limitations of internal �inancial controls over �inancial reporting, including the

possibilityofcollusionor impropermanagementoverrideofcontrols,materialmisstatementsdueto error

orfraudmayoccurandnotbedetected.Also,projectionsofanyevaluationoftheinternal�inancialcontrols

over�inancial reporting tofutureperiods are subject to the risk that the internal �inancial control over

�inancial reporting may become inadequate because of changes in conditions, or that the degree of

compliancewiththepoliciesorproceduresmaydeteriorate.

Opinion

Inouropinion, tothebestofour information andaccordingtotheexplanations giventous, theCompany

has, inallmaterial respects, an adequate internal �inancial controls system over �inancial reporting and

such internal �inancial controlsover �inancial reportingwereoperating effectively asatMarch31,2019,

basedontheinternalcontrolover�inancialreportingcriteriaestablishedbytheCompanyconsideringthe

essential components of internal control stated in the Guidance Note on Audit of Internal Financial

ControlsOverFinancialReportingissuedbytheInstituteofCharteredAccountantsofIndia.




Place:Delhi

Dated30thMay2019

CASUNILKUMAR

Partner

M.No.408730

Sd/-



ANNEXURE‘B’TOTHEINDEPENDENTAUDITOR’SREPORT

(Referredtoinparagraph2under‘ReportonOtherLegalandRegulatoryRequirements’sectionofour

reporttotheMembersofNeerajPaperMarketingLimitedofevendate)

(i) (a) TheCompanyhasmaintainedproperrecordsshowingfullparticulars,includingquantitative

detailsandsituationof�ixedassets.

(b) The �ixed assets have been physically veri�ied during the year by the management in

accordancewitharegularprogrammeofperiodicalveri�ication inphasedmannerwhich, in

ouropinion,isreasonablehavingregardtothesizeoftheCompanyandthenatureofitsFixed

Assets. The discrepancies, if any, noticed on such physical veri�ication have been properly

dealtwithinthebooksofaccounts.

(c) According to the informationandexplanationsgiven tousand the records examinedbyus

andbasedontheexaminationoftheregisteredsaledeed/transferdeed/conveyancedeed

providedtous,wereportthat,thetitledeeds,comprisingalltheimmovablepropertiesofland

andbuildingswhicharefreehold,areheldinthenameoftheCompanyasatthebalancesheet

date.

(ii) We have been explained by themanagement that the inventory have been physically veri�ied at

reasonableintervalsduringtheyear.Asfaraswecanascertainandaccording toinformationand

explanationsgiventous,thediscrepancies,whenevermaterial,noticedonsuchphysicalveri�ication

ofinventoryascomparedtobookrecordswereproperlydealtwithinthebooksofaccounts.

(iii) TheCompanyhasnotgrantedanyloans,securedorunsecured,tocompanies,�irm,LimitedLiability

Partnerships or other parties covered in the register maintained under section 189 of the Act.

Accordingly,theprovisionsofclause3(iii)(a)to(c)oftheOrderarenotapplicabletotheCompany.

(iv) In our opinion and according to the information and explanations given to us, the Company has

complied with the provisions of sections 185 and 186 of Act in respect of making investments.

However, the Company has not granted any loans or provided any guarantees and securities.

Accordingly,theprovisionofclause3(iv)oftheOrderisnotapplicabletotheCompany.

(v) According to the information and explanations given to us, the Company has not accepted any

depositfromthepublic.Accordingly,theprovisionofclause3(v)oftheOrderisnotapplicableto

theCompany.

(vi) Companyisengagedintradingandmarketingactivitiesandthemaintenanceofcostrecordsisnot

applicable to the company as speci�ied by the Central Government under section 148(1) of the

CompaniesAct,2013.Accordingly,theprovisionofclause3(vi)oftheOrderisnotapplicabletothe

Company.

(vii) Accordingtotheinformationandexplanationsgiventous,inrespectofstatutorydues:

(a) The Company has generally been regular in depositing undisputed statutory dues, including

ProvidentFund,Employees'StateInsurance,Income-tax,SalesTax,ServiceTax,CustomsDuty,

Excise Duty, Value Added Tax, cess and othermaterial statutory dues applicable to it t o the

appropriateauthorities.

(b) There were no undisputed amounts payable in respect of Provident Fund, Employees' State



Insurance,Income-tax,SalesTax,ServiceTax,CustomsDuty,ExciseDuty,ValueAddedTax,cess

andothermaterialstatutoryduesinarrearsasatMarch31,2019foraperiodofmorethansix

monthsfromthedatetheybecamepayable.

(c) Therearenoduesinrespectofincometax,salestax,servicetax,dutyofexcise,dutyofcustom,

orvalueadded taxwhichhavenotbeendepositedonaccountofanydispute exceptasgiven

below:

Nameof

statute

Natureof

dues

Periodto

whichthe

amount

relates

Forumwheredisputeis

pending

Amount

(Rs.)

Amountpaidunder

protest

DelhiValue

AddedTax

Act

2004/Delhi

SalesTaxAct

1975

Sales

Tax/VAT

2012-13 Appellate Tribunal, VAT,

NewDelhi

98919 550000

Sales

Tax/VAT

2013-14 Special Commissioner-III

(OHA)

10306315 3800000


(OHA)

12219538


(OHA)

13624628


(OHA)

7610112

(viii)

Based on our audit procedures and as per the information and explanations given by the

management, we are of the opinion that the company has not defaulted in repayment of loan or

borrowingtoanybanksand�inancialinstitutions.

(ix) TheCompanyhasnotraisedmoneysbywayof initialpublicofferorfurtherpublicoffer(including

debt instruments)or term loans.Accordingly,paragraph3 (ix)of theOrder isnotapplicable to the

Company.

(x) Tothebestofourknowledgeandaccordingtotheinformationandexplanationsgiventous,nofraud

by the Company and no fraud on the Company by its of�icers or employees has been noticed or

reportedduringtheyear.

(xi) Inouropinionandaccordingtotheinformationandexplanationsgiventous,theCompanyhaspaid/

provided managerial remuneration in accordance with the requisite approvals mandated by the

provisionsofsection197readwithScheduleVtotheAct.

(xii) Inouropinionandaccordingtotheinformationandexplanationsgiventous,theCompanyisnota

NidhiCompany.Accordingly,paragraph3(xii)oftheOrderisnotapplicabletotheCompany.

(xiii) Accordingtotheinformationandexplanationsgiventousandbasedonourexaminationoftherecord

oftheCompany,transactionswiththerelatedpartiesareincompliancewithsections177and188of

theActwhereapplicableanddetailsofsuchtransactionshavebeendisclosedinthestandaloneIndAS

�inancialstatementsasrequiredbytheapplicableaccountingstandards.

(xiv) Basedupon the audit procedures performedand the informationandexplanations given tous, the

Companyhasnotmadeanypreferentialallotment orprivateplacementof shares or fullyorpartly



convertibledebentureduringtheyearunderreview.Accordingly,paragraph3(xiv)oftheOrderisnot

applicabletotheCompany.

(xv) According to the information and explanations given to us and based on our examination of the

recordsof theCompany, theCompanyhasnotentered intonon-cash transactionswithdirectorsor

personsconnectedwithhim.Accordingly,paragraph3(xv)oftheOrderisnotapplicable.

(xvi) TheCompanyisnotrequiredtoberegisteredundersection45-IAoftheReserveBankofIndiaAct,

1934.




Place:Delhi

Dated30thMay2019

CASUNILKUMAR

Partner

M.No.408730

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NEERAJ PAPER MARKETING LIMITED

218-222, AGGARWAL PRESTIGE MALL, PLOT No.2, ALONG ROAD No.44, PITAMPURA, NEW DELHI-110034

CIN: L74899DL1995PLC066194

(Rs. In Lacs)

As at As at March 31, 2019 March 31, 2018

ASSETS

1. Non-current assets

Property, Plant and Equipment 4 780.88

764.16

Financial Assets

Investments 5 -

25.00

Other non-current assets 6 273.51

203.73

1,054.39

992.89

2. Current assets

Inventories 7 234.25

1,291.38

Financial Assets

Trade receivables 8 6,434.01

8,679.13

Cash and cash equivalents 9 7.23

43.13

Bank balances other than covered above 10 46.16

17.43

Other current assets 12 197.42

397.09

6,919.07

10,428.16

TOTAL ASSETS 7,973.46

11,421.05

EQUITY AND LIABILITIES

EQUITY

Equity Share capital 13 1,100.00

1,100.00

Other Equity 14 1,342.70

1,311.63

2,442.70

2,411.63

LIABILITIES

1. Non- current liabilities

Financial Liabilities

Borrowings 15 756.38 798.86 Provisions 16 33.91 22.86 Deferred tax liabilities (net) 17 64.28 52.79 Other non-current liabilities 18 139.02

141.82

993.59

1,016.33

2. Current Liabilities


Borrowings 19 1,351.16

5,608.21

Trade payables 20 2,888.33

2,038.09

Other Financial liabilities 21 123.00

113.39

Other current liabilities 22 155.67

218.27

Provisions 23 14.56

13.76

Current Tax Liabilities (Net) 11 4.45

1.37

4,537.17

7,993.09

TOTAL EQUITY AND LIABILITIES 7,973.46

11,421.05

Company Information 1

Basis of Preparation 2

Significant Accounting Policies 3

See accompanying notes 1 - 44 forming an integral part of the financial statements

FOR M/S RAJEEV SINGAL & CO. For and on behalf of the Board of Directors

Chartered Accountants

Firm Regn. No. 008692C

(PRAVEEN KUMAR GOEL) (DEEPAK GOEL)

Wholetime Director Wholetime Director

DIN - 00014638 DIN - 00200527

(CA SUNIL KUMAR)

Partner

M.No. 408730

(MANSI) (VIPIN KUMAR GOEL)

Date: 30th May, 2019 Company Secretary Chief Financial Officer

Place: Delhi PAN - DNIPM9327Q PAN - ACSPG3315N

BALANCE SHEET

As at March 31st, 2019

PARTICULARS Note No.

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NEERAJ PAPER MARKETING LIMITED

218-222, AGGARWAL PRESTIGE MALL, PLOT No.2, ALONG ROAD No.44, PITAMPURA, NEW DELHI-110034

CIN: L74899DL1995PLC066194

(Rs. In Lacs)

Year Ended Year EndedMarch 31, 2019 March 31, 2018

I Revenue from operations 24 25,220.46

32,858.26

II Other income 25 13.30

28.70

III Total Income (I + II) 25,233.76

32,886.96

IV Expenses

Cost of material consumed -

-

Purchases of stock in trade 26 23,204.09

32,514.32

Changes in inventories of

-Finished goods -

-

-Work-in-progress -

-

-Stock in trade 27 1,057.13

(1,226.05)

Employee benefits expense 28 165.53

171.36

Finance costs 29 505.01

931.10

Depreciation and amortization expense 4 37.89

32.26

Other expenses 30 135.34

304.63

Total expense (IV) 25,104.99

32,727.62

V Profit/(loss) before exceptional items and tax (I- IV) 128.77

159.34

VI Exceptional Items 31 45.68

316.59

VII Profit/(loss) before tax (V-VI) 83.09

(157.25)

VIII Income Tax Expense: 32

(1) Current tax 37.82 39.94

(2) Deferred Tax 11.49 12.76 IX Profit/(Loss) (V-VI) 33.78 (209.95) X Other Comprehensive Income ('OCI')

-Items that will not be re-classified to Profit and Loss

Remeasurements gains/(loss) of defined benefit plans (4.07)

(11.97) Tax on above (1.36)

(3.96)

-Items that will be re-classified to Profit and Loss

Fair value changes on financial assets through OCI (net of tax) -

-

Other comprehensive income for the year, net of tax (2.71)

(8.01)

XI Total comprehensive income for the year, net of tax (IX+X) 31.07

(217.96)

XII Earnings per equity share 33

(1) Basic 0.31

(1.91)

(2) Diluted 0.31

(1.91)







DIN - 00014638 DIN - 00200527

(CA SUNIL KUMAR)

Partner

M.No. 408730




For the year ended March 31st, 2019

PARTICULARS Note No.

STATEMENT OF PROFIT AND LOSS

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NEERAJPAPERMARKETINGLIMITED

218-222,AGGARWALPRESTIGEMALL,PLOTNo.2,ALONGROADNo.44,PITAMPURA,NEWDELHI-110034

CIN:L74899DL1995PLC066194

STATEMENTOFCHANGESINEQUITY

AsatMarch31,2019

A. EquityShareCapital

Amount Amount

(Rs.InLacs) (Rs.InLacs)

OpeningShareCapital 11,000,000 1,100.00 11,000,000 1,100.00

Add:SharesissuuedDuringtheyear - - - -

Total 11,000,000 1,100.00 11,000,000 1,100.00

LessReductioninCapital - - - -

ClosingShareCapital 11,000,000 1,100.00 11,000,000 1,100.00

B. Statementofchangeinequity (Rs.InLacs)

AsAtApril1,2017 928.57 601.37 (0.35) 1,529.59Pro�itfortheyear - (209.95) - (209.95)OtherComprehensiveIncome - - (8.01) (8.01)AsAtMarch31,2018 928.57 391.42 (8.36) 1,311.63 -

AsAtApril1,2018 928.57 391.42 (8.36) 1,311.63

Pro�itfortheyear - 33.78 - 33.78OtherComprehensiveIncome - - (2.71) (2.71)AsAtMarch31,2019 928.57 425.20 (11.07) 1,342.70 -

SecurityPremium RetainedEarnings

Other

Comprehensive

Income

TotalEquity

PARTICULARS

March31,2019 March31,2018

Nos Nos

ReservesandSurplus

Seeaccompanyingnotes1-44forminganintegralpartofthe�inancialstatements

FORM/SRAJEEVSINGAL&CO. ForandonbehalfoftheBoardofDirectors


FirmRegn.No.008692C

(PRAVEENKUMARGOEL) (DEEPAKGOEL)

WholetimeDirector WholetimeDirector

DIN-00014638 DIN-00200527

(CASUNILKUMAR)

Partner

M.No.408730

(MANSI) (VIPINKUMARGOEL)

Date:30thMay,2019 CompanySecretary ChiefFinancialOf�icer

Place:Delhi PAN-DNIPM9327Q PAN-ACSPG3315N

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NEERAJPAPERMARKETINGLIMITED

218-222,AGGARWALPRESTIGEMALL,PLOTNo.2,ALONGROADNo.44,PITAMPURA,NEWDELHI-110034

CIN:L74899DL1995PLC066194

STATEMENTOFCASHFLOW

FortheyearendedMarch31,2019

See accompanying notes 1 - 44 forming an integral part of the financial statements -

-






DIN - 00014638 DIN - 00200527

(CA SUNIL KUMAR)

Partner

M.No. 408730




(Rs. In Lacs)


A. Cash flow from operating activitiesNet Profit before Tax as per Profit & Loss Account 81.74

(161.30)

Adjustments for:

Depreciation 37.89

32.26

Finance costs 505.01

931.10

Other Non Operating Income (13.30)

(28.70)

Operating profit before changes in assets and liabilities 611.34

773.36

Changes in inventories 1,057.13 (1,226.05)

Changes in trade receivables 2,245.12 (65.18)

Changes in current tax assets (net) - 2.54

Changes in other current assets 199.67 440.47

Changes in other non-current assets (69.78) (42.61)

Changes in trade payables 850.24 1,134.05

Changes in other financial liabilities-current 9.61 (15.23)

Changes in other current liabilities (62.60) 88.87

Changes in provisions-current 0.80 12.97

Changes in current tax liabilities (net) 3.08 1.37

Changes in provisions - non current 11.05 5.96

Changes in deferred tax liabilities (net) 11.49 12.76

Changes in other non current liabilities (2.80) 2.67

Cash generated from operations 4,864.35 1,125.95

Net income tax (paid) / refunds (50.67) (56.66)

Net cash flow from / (used in) operating activities (A) 4,813.68 1,069.29

B. Cash flow from investing activities

Purchase of Property,Plant & Equipment (58.90) (210.18) Proceeds from sale of Property,Plant & Equipment 4.29 2.11 Change in investments in bank deposits (28.73) 2.13 Changes in investments 25.00 - Other Non Operating Income 13.30 28.70

Net cash flow from / (used in) investing activities (B) (45.04) (177.24)

C. Cash flow from financing activities

Proceeds from long-term borrowings - 101.35 Repayment of long-term borrowings (42.48) - Finance cost (505.01) (931.10)

Net cash flow from / (used in) financing activities (C) (547.49) (829.75) Net increase/(decrease) in Cash and cash equivalents (A+B+C) 4,221.15 62.30

Cash and cash equivalents at the beginning of the year (5,565.08) (5,627.38) Cash and cash equivalents at the end of the year (refer Note-9) (1,343.93) (5,565.08)

PARTICULARS

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Note1CompanyOverviewThe company has its Registered Of�ice as well as business place at 218-222, Aggarwal Prestige Mall, Plot NO. 2,Community Centre, along road no. 44, Pitampura, Delhi-110034. The company is engaged in Trading&MarketingBusiness.

These�inancialstatementswereapprovedandadoptedbyBoardofDirectorsoftheCompanyintheirmeetingheldonMay30,2019.

Note2BasisofPreparationofFinancialStatements2.1 StatementofCompliance:TheFinancialStatementshavebeenpreparedinaccordancewithIndianAccountingStandards(IndAS)asprescribedunderSection133oftheCompaniesAct,2013readwithCompanies(IndianAccountingStandards)Rules,2015andCompanies(IndianAccountingStandards)(Amendment)Rules,2016andrelevantprovisionsoftheCompaniesAct,2013.2.2 BasisofPreparation:Accounting policies have been consistently applied except where a newly issued accounting standard is initiallyadoptedorarevisiontoanexistingaccountingstandardrequiresachange intheaccountingpolicyhithertoinuse.The �inancial statements are presented in INR and all values are rounded to the nearest INR Lakhs, except whenotherwiseindicated.2.3 UseofEstimatesThe preparation of the �inancial statements in conformity with Ind AS requires management to make estimates,judgmentsandassumptions.Theseestimates,judgmentsandassumptionsaffecttheapplicationofaccountingpoliciesandthereportedamountsofassetsandliabilities,thedisclosuresofcontingentassetsandliabilitiesatthedateofthe�inancial statements and reported amountsof revenues and expensesduring the period.Applicationof accountingpolicies that require critical accounting estimates involving complex and subjective judgments and the use ofassumptionsinthese�inancialstatementshavebeendisclosedinNote.Accounting estimates could change from period to period. Actual results could differ from those estimates.Appropriatechangesinestimatesaremadeasmanagementbecomesawareofchangesincircumstancessurroundingtheestimates.Changesinestimatesarere�lectedinthe�inancialstatementsintheperiodinwhichchangesaremadeand,ifmaterial,theireffectsaredisclosedinthenotestothe�inancialstatements.Note3Signi�icantAccountingPolicies3.1 Property,PlantandEquipment(PPE)Thesetangibleassetsareheldforuseinproduction,supplyofgoodsorservicesorforadministrativepurposes.Thesearerecognizedandcarriedundercostmodeli.e.costlessaccumulateddepreciationandimpairmentloss,ifany.

· Costincludesfreight,duties,taxesandotherexpensesdirectlyincidentaltoacquisition,bringingtheassettothelocationandinstallationincludingsiterestorationuptothetimewhentheassetisreadyforintendeduse.SuchCostsalsoincludeBorrowingCostiftherecognitioncriteriaaremet.

· When a major inspection/repair occurs, its cost is recognized in the carrying amount of the plant andequipmentasa replacement if the recognitioncriteria are satis�ied.Any remaining carryingamountof thecostofpreviousinspection/repairisderecognized.



· DepreciationhasbeenprovidedonstraightlinemethodintermsofexpectedlifespanofassetsasreferredtoinScheduleIIoftheCompaniesAct,2013.

S.No. DescriptionofAssets Usefullife

1. Of�iceBuilding 602. FurnitureandFixtures 103. Vehicles 84. AirConditioner 105. Computer 3

· Components relevant to Property, plant and equipment , where signi�icant, are separately depreciated on

straightlinebasisintermsoftheirlifespanassessedbytechnicalevaluationinitemspeci�iccontext.· DuringsalesofProperty,plantandequipment anypro�it earned/losssustainedtowardsexcess/shortfallof

salevaluevis-a-viscarryingcostofassetsisaccountedforinstatementofpro�it&loss.3.2 ImpairmentThecarryingamountofProperty,plantandequipments,IntangibleassetsandInvestmentpropertyarereviewedateach Balance Sheet date to assess impairment if any, based on internal / external factors. An asset is treated asimpaired,whenthecarryingcostofassetexceedsitsrecoverablevalue,beinghigherofvalueinuseandnetsellingprice.AnimpairmentlossisrecognisedasanexpenseintheStatementofPro�itandLossintheyearinwhichanassetisidenti�iedasimpaired.Theimpairmentlossrecognisedinprioraccountingperiodisreversed,iftherehasbeenanimprovementinrecoverableamount.3.3 InventoryValuationInventoriesarevaluedatthelowerofcostornetrealizablevalue.Costincludespurchaseprice,duties,transport&handingcostsandothercostsdirectlyattributabletotheacquisitionandbringingtheinventoriestotheirpresentlocationandcondition.Thebasisofdeterminationofcostremainsasfollows:

· StockinTrade:Companyisengagedintradingandmarketingbusinessandgenerallynostockismaintainedbythecompany.HoweverinapplicablecasesCostofinventoriesareascertainedon"FIFO"basis.

3.4 FinancialAssets&LiabilitiesAFinancialInstrumentisanycontractthatgivesrisetoa�inancialassetofoneentityanda�inancialliabilityorequityinstrumentofanotherentity. 3.4.1 FinancialAssetsAtinitialrecognition,all�inancialassetsaremeasuredatfairvalue.Such�inancialassetsaresubsequentlyclassi�iedunderfollowingthreecategoriesaccordingtothepurpose forwhichtheyareheld.Theclassi�icationisreviewedattheendofeachreportingperiod.

3.4.1.1 FinancialAssetsatAmortisedCostAt the date of initial recognition, are held to collect contractual cash �lows of principal and interest on principalamountoutstandingonspeci�ieddates.These�inancialassetsareintendedtobehelduntilmaturity.Therefore,theyare subsequently measured at amortised cost by applying the Effective Interest Rate (EIR) method to the grosscarryingamountofthe�inancialasset.TheEIRamortisationisincludedasinterestincomeinthepro�itorloss.Thelossesarisingfromimpairmentarerecognisedinthepro�itorloss. 3.4.1.2 FinancialAssetsatFairvaluethroughOtherComprehensiveIncome



At the date of initial recognition, are held to collect contractual cash �lows of principal and interest on principalamountoutstandingonspeci�ieddates,aswellasheldforselling.Therefore,theyaresubsequentlymeasuredateachreportingdateatfairvalue,withallfairvaluemovementsrecognisedinOtherComprehensiveIncome(OCI).Interestincomecalculatedusingtheeffectiveinterestrate(EIR)method,impairmentgainorlossandforeignexchangegainorloss are recognised in the Statement of Pro�it and Loss. On derecognition of the asset, cumulative gain or losspreviouslyrecognisedinOtherComprehensiveIncomeisreclassi�iedfromtheOCItoStatementofPro�itandLoss. 3.4.1.3 FinancialAssetsatFairvaluethroughPro�itorLossAtthedateofinitialrecognition,�inancialassetsareheldfortrading,orwhicharemeasuredneitheratAmortisedCostnoratFairValuethroughOCI.Therefore,theyaresubsequentlymeasuredateachreportingdateatfairvalue,withallfairvaluemovementsrecognisedintheStatementofPro�it andLoss.

· InvestmentinEquitySharesInvestmentsinEquitySecuritiesareinitiallymeasuredatcost.

· TradeReceivables AReceivable is classi�iedasa ‘trade receivable’ if it is in respect to theamountdue fromcustomersonaccountofgoodssoldorservicesrenderedintheordinarycourseofbusiness.Tradereceivablesarerecognisedinitiallyatfairvalue and subsequently measured at amortised cost using the effective interest method, less provision forimpairment.ForsometradereceivablestheCompanymayobtainsecurityintheformofguarantee,securitydepositorletterofcreditwhichcanbecalleduponifthecounterpartyisindefaultunderthetermsoftheagreement.

· CashandCashEquivalentsCash and cash equivalents comprise cashon hand, cash at bank anddemanddepositswith bankswith an originalmaturityofthreemonthsorlesswhicharesubjecttoaninsigni�icantriskofchangeinvalue.

· OtherBankBalancesDepositswithbankswithanoriginalmaturityofmorethanthreemonthsbutsubjectto12monthsareshownunderthishead.

· De-recognitionofFinancialAssetsFinancialAssetisprimarilyderecognizedwhen:

· Therighttoreceivecash�lowsfromassethasexpired,or

· TheCompanyhastransferreditsrighttoreceivecash �lowsfromtheassetorhasassumedanobligationtopay the received cash �lows in full without material delay to a third party under a “ pass-through”arrangement.

3.4.2 FinancialLiabilitiesAll�inancialliabilitiesarerecognizedinitiallyatfairvalueand,inthecaseofloansandborrowingsandpayables,netofdirectlyattributable transactioncosts.TheCompany’s�inancial liabilities includetradeandotherpayables, loansandborrowingsincludingbankoverdrafts,andderivative�inancialinst ruments. 3.4.2.1 FinancialLiabilitiesatFairValuethroughPro�itorLossFinancialliabilitiesat fairvaluethroughpro�itorlossinclude�inancialliabilitiesheldfortrading.TheCompanyhasnot designated any �inancial liabilities upon initial measurement recognition at fair value through pro�it or loss.



Financialliabilitiesatfairvaluethroughpro�itorlossareateachreportingdatewithallthechangesrecognizedintheStatementofPro�itandLoss. 3.4.2.2 FinancialLiabilitiesmeasuredatAmortizedCostAfter initialrecognition, interestbearing loansandborrowingsaresubsequentlymeasuredatamortisedcostusingthe effective interest rate method (‘’EIR’’) except for those designated in an effective hedging relationship. Thecarryingvalueofborrowingsthataredesignatedashedgeditemsinfairvaluehedgesthatwouldotherwisebecarriedatamortisedcostareadjustedtorecordchangesinfairvaluesattributabletotherisksthatarehedged ineffectivehedgingrelationship.AmortisedcostiscalculatedbytakingintoaccountanydiscountorpremiumonacquisitionandfeeorcoststhatareanintegralpartoftheEIR.TheEIRamortisationisincludedin�inancecostsintheStatementofPro�itandLoss.

· LoansandBorrowingsAfterinitialrecognition,interest-bearingborrowingsaresubsequentlymeasuredatamortisedcostusingtheeffectiveinterestratemethod.Anydifferencebetweentheproceeds(netoftransactioncosts)andtheredemptionamountisrecognised inpro�itor lossovertheperiodoftheborrowingsusingtheeffective interestmethod.Feespaidon theestablishmentof loan facilitiesare recognisedas transaction costs of the loan to the extent that it is probable thatsomeorallofthefacilitywillbedrawndown.Borrowingsareclassi�iedascurrentliabilitiesunlesstheCompanyhasanunconditionalrighttodefersettlementoftheliabilityforatleasttwelvemonthsafterthereportingperiod.

· TradeandOtherPayablesApayableisclassi�iedas’tradepayable’ifitisinrespectoftheamountdueonaccountofgoodspurchasedorservicesreceivedinthenormalcourseofbusiness.TheseamountsrepresentliabilitiesforgoodsandservicesprovidedtotheCompany prior to the end of �inancial yearwhich are unpaid. Trade and other payables are presented as currentliabilitiesunlesspaymentisnotduewithin12monthsafterthereportingperiod.Theyarerecognisedinitiallyattheirfairvalueandsubsequentlymeasuredatamortisedcostusingtheeffectiveinterestmethod.

· De-recognitionofFinancialLiabilityAFinancialLiabilityisderecognisedwhentheobligationundertheliabilityisdischargedorcancelledorexpires.Thedifferencebetweenthecarryingamountofa�inancial liabilitythathasbeenextinguishedor transferredtoanotherpartyand theconsiderationpaid, includinganynon-cashassets transferredor liabilitiesassumed, is recognised inpro�itorlossasotherincomeor�inancecosts.

· OffsettingofFinancialInstrumentsFinancialAssetsandFinancialLiabilitiesareoffsetand thenetamountisreported inthebalancesheet if thereisacurrentlyenforceablelegalrighttooffsettherecognisedamountsandthereisanintentiontosettleonanetbasis,torealisetheassetsandsettletheliabilitiessimultaneously. 3.5 RevenueRecognitionTheCompanyearnsrevenueprimarilyfromtradingactivities.

EffectiveApril1,2018, theCompanyhasapplied IndAS115 “Revenue fromContractswithCustomers”whichestablishesacomprehensiveframeworktodepicttimingandamountofrevenuetoberecognised.TheCompanyhas adopted Ind AS 115 using cumulative effect method, where any effect arising upon application of thisstandard is recognised as at the date of initial application (i.e. April 1, 2018). The standard is appliedretrospectivelyonlytocontractsthatarenotcompletedasatthedateofinitialapplicationandthecomparativeinformationintheinterimstatementofpro�itandlossisnotrestated–i.e.thecomparativeinformationcontinuesto be reported under previous standards on revenue i.e. Ind AS 18 and Ind AS 11. There was no impact onadoptionofIndAS115tothe�inancialstatementsoftheCompany. Revenue is recognized when the Company satis�ies the performance obligation by transferring the promisedservices to thecustomers.Servicesareconsideredperformedwhen thecustomerobtainscontrol,whereby the



customergetstheabilitytodirecttheuseofsuchservicesandsubstantiallyobtainsallbenefitsfromtheservices.Whenthere isuncertaintyas tomeasurementorultimatecollectability,revenuerecognition ispostponeduntilsuchuncertaintyisresolved.Inordertodetermine,ifitisactingasprincipalorasanagent,theentityshalldeterminewhetherthenatureofitspromise is a performanceobligation to provide the speci�ied services itself (i.e. the entity is a principal) or toarrange for those services to be provided by the other party (i.e. the entity is an agent) for all its revenuearrangements.

3.6 EmployeeBene�its

· De�inedBene�itPlanTheCompany’sLiabilitiesonaccountofGratuityofemployeesaredeterminedattheendofeach�inancialyearonthebasis of actuarial valuation certi�icates obtained from Registered Actuary in accordance with the measurementprocedureasperIndianAccountingStandard(INDAS)-19.,‘EmployeeBene�its’.Thecostsofprovidingbene�itsundertheseplansarealsodeterminedon thebasisof actuarial valuationateachyear end.Actuarial gainsand losses forde�ined bene�it plans are recognized through OCI in the period in which they occur. Re -measurements are notreclassi�iedtopro�itorlossinsubsequentperiods.TheDe�inedBene�itPlancanbeshorttermorLongtermswhicharede�inedbelow:i) Short-termEmployeeBene�itAllemployees’bene�itspayablewhollywithintwelvemonthsrenderingservicesareclassi�iedasshorttermemployeebene�its. Bene�its such as salaries, wages, short-term compensated absences, performance incentives etc., and theexpectedcostofbonus,ex-gratiaarerecognizedduringtheperiodinwhichtheemployeerendersrelatedservice. ii) Long-termemployeeBene�itsCompensatedabsenceswhicharenotexpectedtooccurwithin12monthsafter theendof theperiod in which theemployee renders the related services are recognized as a liability at the present value of the de�ined bene�itobligationatthebalancesheetdate.3.7 BorrowingCostsBorrowingcostsdirectlyattributabletotheacquisition,constructionorproductionofanassetthatnecessarilytakesasubstantialperiodoftimetogetreadyforitsintendeduseorsalearecapitalisedaspartofthecostoftheasset.Allotherborrowingcostsareexpensedintheperiodinwhichtheyoccur.Borrowingcostsconsistofinterestandothercosts that an entity incurs in connection with the borrowing of funds. Borrowing cost also includes exchangedifferencestotheextentregardedasanadjustmenttotheborrowingcosts.3.8 IncomeTax

· CurrentincometaxCurrent income taxassetsand liabilitiesaremeasuredat theamountexpectedtoberecovered fromorpaid to thetaxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted orsubstantivelyenacted,atthereportingdate.Currentincometaxrelatingtoitemsrecogniseddirectlyinequityisrecognisedinequityandnotinthestatementofpro�it and loss.Management periodically evaluates positions taken in the tax returnswith respect to situations inwhichapplicabletaxregulationsaresubjecttointerpretationandestablishesprovisionswhereappropriate.

· DeferredtaxDeferredtaxisprovidedusingthebalancesheetapproachontemporarydifferencesatthereportingdatebetweenthetax bases of assets and liabilities and their carrying amounts for �inancial reporting purpose at reporting date.



Deferred income tax assets and liabilities are measured using tax rates and tax laws that have been enacted orsubstantivelyenactedby thebalancesheetdateandareexpectedtoapply to taxable incomeintheyears inwhichthosetemporarydifferencesareexpected toberecoveredorsettled.Theeffectofchanges in tax ratesondeferredincometaxassetsandliabilitiesisrecognizedasincomeorexpenseintheperiod thatincludestheenactmentorthesubstantive enactmentdate.Adeferred income taxasset is recognized to the extent that it is probable that futuretaxablepro�itwillbeavailableagainstwhichthedeductibletemporarydifferencesandtaxlossescanbeutilized.TheCompanyoffsets current taxassetsandcurrent tax liabilities,where ithasa legallyenforceableright tosetoff therecognizedamountsandwhereitintendseithertosettleonanetbasis,ortorealizetheassetandsettletheliability simultaneously.

· MinimumAlternateTaxMinimumAlternateTaxcreditisrecognized,asanassetonlywhenandtotheextentthereisconvincingevidencethattheCompanywillpaynormalincometaxduringthespeci�iedperiod.3.9 EarningsperShare(EPS)Basic earnings per equity share are computed by dividing the net pro�it attributable to the equity holders of thecompanybytheweightedaveragenumberofequitysharesoutstandingduringtheperiod.Diluted earnings per equity share is computed by dividing the net pro�it attributable to the equity holders of thecompanybytheweightedaveragenumberofequitysharesconsideredforderivingbasicearningsperequityshareandalsotheweightedaveragenumberofequitysharesthatcouldhavebeenissueduponconversionofalldilutivepotentialequityshares.Thedilutivepotentialequitysharesareadjustedfortheproceedsreceivablehadtheequityshares been actually issued at fair value (i.e. the averagemarket value of the outstanding equity shares). Dilutivepotentialequitysharesaredeemedconvertedasofthebeginningoftheperiod,unlessissuedatalaterdate.Dilutivepotentialequitysharesaredeterminedindependentlyforeachperiodpresented.The number of equity shares and potentially dilutive equity shares are adjusted retrospectively for all periodspresented forany share splits and bonus shares issues including for changes effectedprior to the approval of the�inancialstatementsbytheBoardofDirectors.3.10 ProvisionsandContingentLiabilities/AssetsProvisions are recognisedwhen theCompanyhas a present obligation (legal or constructive) as a result of a pastevent,itisprobablethatanout�lowofresourcesembodyingeconomicbene�itswillberequiredtosettletheobligationandareliableestimatecanbemadeoftheamountoftheobligation.Theexpenserelatingtoaprovisionispresentedin the statement of pro�it and loss net of any reimbursement. If the effect of the time value ofmoney ismaterial,provisionsarediscountedusingacurrentpre-taxratethatre�lects,whenappropriate,therisksspeci�ictotheliability.Whendiscountingisused,theincreaseintheprovisionduetothepassageoftimeisrecognisedasa�inancecost.Contingent Liability is disclosed after careful evaluation of facts, uncertainties and possibility of reimbursement.Contingentliabilitiesarenotrecognisedbutaredisclosedinnotes.ContingentAssetsarenotrecognisedin�inancialstatementsbutaredisclosed,sincetheformertreatmentmayresultin therecognitionof income thatmayormaynotbe realised.However,when therealisationof income isvirtuallycertain,thentherelatedassetisnotacontingentassetanditsrecognitionisappropriate.3.11 LeasesThedeterminationofwhetheranarrangementis(orcontains)aleaseisbasedonthesubstanceofanarrangementatinceptiondate:whether ful�illmentofthearrangement isdependentontheuseofaspeci�icassetorassetsandthearrangementconveysarighttousetheasset,evenifthatrightisnotexplicitlyspeci�iedinanarrangement.Aleaseisclassi�iedattheinceptiondateasa�inanceleaseoranoperatinglease.Aleasethattransferssubstantiallyallthe risks and rewards incidental to ownership to the Company is classi�ied as a �inance lease. Leases other than�inanceleaseareclassi�iedasoperatinglease.



Operatingleasepaymentsarerecognizedasanexpenseonastraight-linebasisovertheleasetermandescalationinthe contract, which are structured to compensate expected general in�lationary increase are not straight-lined.ContingentrentsarerecognizedasexpenseintheperiodinStatementofPro�itandLossinwhichtheyareincurred.3.12 CashFlowStatementCash �lows are reported using the indirect method, whereby pro�it for the period is adjusted for the effects oftransactionsofanon-cashnature,anydeferralsoraccrualsofpastorfutureoperatingcashreceiptsorpaymentsanditemofincomeorexpensesassociatedwithinvestingor�inancingcash�lows.Thecash�lowsfromoperating,investingand�inancingactivitiesoftheCompanyaresegregated.3.13 Classi�icationofAssetsandLiabilitiesasCurrentandNonCurrentThe Company presents assets and liabilities in the balance sheet based on current/ non-current classi�ication. Anassetistreatedascurrentwhenitis:· Expectedtoberealisedorintendedtobesoldorconsumedinnormaloperatingcycle · Heldprimarilyforthepurposeoftrading· Expectedtoberealisedwithintwelvemonthsafterthereportingperiod,or· Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve

monthsafterthereportingperiod

Allotherassetsareclassi�iedasnon-current.Aliabilityiscurrentwhen:· Itisexpectedtobesettledinnormaloperatingcycle· Itisheldprimarilyforthepurposeoftrading· Itisduetobesettledwithintwelvemonthsafterthereportingperiod,or· Thereisnounconditionalrighttodeferthesettlementoftheliabilityforatleasttwelvemonthsafterthereporting

period

TheCompanyclassi�iesallotherliabilitiesasnoncurrent.

Deferredtaxassetsandliabilitiesareclassi�iedasnon-currentassetsandliabilities.

Theoperatingcycleisthetimebetweentheacquisitionofassetsforprocessingandtheirrealisationincashandcashequivalents.TheCompanyhasidenti�iedtwelvemonthsasitsoperatingcycle.

3.14 FairvalueMeasurementTheCompanymeasures�inancialinstrumentsatfairvalueateachreportingdate.Fairvalueisthepricethatwouldbereceivedtosellanassetorpaidto transfera liability inanorderly transactionbetweenmarketparticipantsat themeasurementdate.Thefairvaluemeasurementisbasedonthepresumptionthatthetransactiontoselltheassetortransfertheliabilitytakesplaceeither:

· Intheprincipalmarketfortheassetorliability. · Intheabsenceofaprincipalmarket,inthemostadvantageousmarketfortheassetorliability.

TheprincipalorthemostadvantageousmarketmustbeaccessiblebytheCompany.

Thefairvalueofanassetoraliabilityismeasureusingtheassumptionsthatmarketparticipantswouldusedwhenpricingtheassetorliability,assumingthatmarketparticipantsactintheireconomicbestinterest.

A fair value measurement of a non �inancial asset takes into account a market participant’s ability to generateeconomicbene�itsbyusingtheassets in itshighestandbestuseorbyselling it toanothermarketparticipant thatwouldusetheassetinitshighestandbestuse.



TheCompanyusesvaluationtechniquesthatareappropriatein thecircumstancesandforwhichsuf�icientdataareavailable to measure the fair value, maximizing the use of relevant observable inputs and maximizing the use ofunobservableinputs.

All assets and liabilities forwhich fair value ismeasuredanddisclosed in the �inancial statements are categorizedwithin the fairvaluehierarchy,describedas follows, basedon the lowest level inputs that is s igni�icant to the fairvaluemeasurementasawhole:

1. Level1–Quotedprices(unadjusted)inactivemarketsforidenticalassetsorliabilities. 2. Level 2 – Inputs other thanquoted prices includedwithinLevel 1 that areobservable for the asset or liability,eitherdirectly(i.e.,asprices)orindirectly(i.e.,derivedfromprices)3. Level3–Inputsfortheassetsorliabilitiesthatarenotbasedonobservablemarketdata(unobservableinputs)

Forassetsandliabilitiesthatarerecognisedinthe�inancialstatementsonarecurringbasis,theCompanydetermineswhether transfers have occurred between levels in the hierarchy by reassessing categorization at the end of eachreportingperiod.

Forthepurposeoffairvaluedisclosures,theCompanyhasdeterminedclassesofassetsandliabilitiesonthebasisofthenature,characteristicsandrisksoftheassetorliabilityandthelevelofthefairvaluehierarchyasexplainedabove.

3.15 StandardsissuedbutnotyeteffectiveIndAS116Leases:

OnMarch30,2019,MinistryofCorporateAffairshasnoti�iedIndAS116,Leases.IndAS116willreplacetheexistingleases Standard, Ind AS 17 Leases, and related Interpretations. The Standard sets out the principles for therecognition,measurement,presentationanddisclosureofleasesforbothpartiestoacontracti.e.,thelesseeandthelessor.IndAS116introducesasinglelesseeaccountingmodelandrequiresalesseetorecognizeassetsandliabilitiesforallleaseswithatermofmorethantwelvemonths,unlesstheunderlyingassetisoflowvalue.Currently,operatinglease expenses are charged to the statement of Pro�it & Loss. The Standard also contains enhanced disclosurerequirementsforlessees.IndAS116substantiallycarriesforwardthelessoraccountingrequirementsinIndAS17.The effective date for adoption of IndAS 116 is annual periods beginning on or afterApril 1, 2019. The standardpermits twopossiblemethodsof transition: • Full retrospective –Retrospectively to eachprior period presentedapplying Ind AS 8 Accounting Policies, Changes in Accounting Estimates and Errors • Modi�ied retrospective –Retrospectively, with the cumulative effect of initially applying the Standard recognized at the date of initialapplication.Undermodi�iedretrospectiveapproach,thelesseerecordstheleaseliabilityasthepresentvalueoftheremainingleasepayments,discountedattheincrementalborrowingrateandtherightofuseasseteitheras:

• Itscarryingamountas if thestandardhadbeenappliedsince thecommencementdate,butdiscountedat lessee’sincrementalborrowingrateatthedateofinitialapplicationor

•Anamountequaltotheleaseliability,adjustedbytheamountofanyprepaidoraccruedleasepaymentsrelated tothatleaserecognizedunderIndAS17immediatelybeforethedateofinitialapplication.Certainpracticalexpedientsareavailableunderboththemethods.

TheCompany is in theprocessof evaluatingthe impactof transitioning fromold IndAS17 toNewIndAS116onleasesandlikelynottohavematerialimpactonthe�inancialsofthecompany.

IndAS12AppendixC,UncertaintyoverIncomeTaxTreatments:

OnMarch30,2019,MinistryofCorporateAffairshasnoti�ied IndAS12AppendixC,Uncertainty over IncomeTaxTreatmentswhichistobeappliedwhileperformingthedeterminationoftaxablepro�it(orloss),taxbases,unusedtaxlosses,unusedtaxcreditsandtaxrates,whenthereisuncertaintyoverincometaxtreatmentsunderIndAS12.TherewouldnotbeanyeffectonadoptionofIndAS12AppendixCinthe�inancialstatements.

AmendmenttoIndAS12–Incometaxes:

OnMarch30,2019,MinistryofCorporateAffairsissuedamendmentstotheguidanceinIndAS12,‘IncomeTaxes’,inconnectionwithaccountingfordividenddistributiontaxes.Theamendmentclari�iesthatanentityshallrecognisethe



incometaxconsequencesofdividendsinpro�itorloss,othercomprehensiveincomeorequityaccordingtowheretheentity originally recognised those past transactions or events. Effective date for application of this amendment isannual period beginning on or after April 1, 2019. The Company does not have any impact on account of thisamendment.

AmendmenttoIndAS19–planamendment,curtailmentorsettlement:

OnMarch30,2019,MinistryofCorporateAffairsissuedamendmentstoIndAS19,‘EmployeeBene�its’,inconnectionwithaccountingforplanamendments,curtailmentsandsettlements.Theamendmentsrequireanentity:

•touseupdatedassumptionstodeterminecurrentservicecostandnetinterestfortheremainderoftheperiodafteraplanamendment,curtailmentorsettlement;and

•torecogniseinpro�itorlossaspartofpastservicecost,oragainorlossonsettlement,anyreductioninasurplus,even if that surplus was not previously recognised because of the impact of the asset ceiling. Effective date forapplicationofthisamendmentisannualperiodbeginningonorafterApril1,2019.

TheCompanydoesnothaveanyimpactonaccountofthisamendment.



Note’4’

Pro

perty,PlantandEquipment



NOTE`5'

INVESTMENTS-Non-current (Rs.InLacs)

Asat AsatMarch31,2019 March31,2018

Unquoted,Equitysharesfullypaidup

InvestmentsCarriedatCost:

(a) -BrinaGopalTraders(P)Ltd. -

10.00

(NilEquitySharesofRs.10/-eachasat31.03.2019)

(2,00,000EquitySharesofRs.10/-eachasat31.03.2018)

(b) -SwabhimanVyapar(P)Ltd -

15.00

(NilEquitySharesofRs.10/-eachasat31.03.2019)

(5,00,000EquitySharesofRs.10/-eachasat31.03.2018)

TOTAL -

25.00

NOTE`6'

OTHERNONCURRENTASSETS (Rs.InLacs)


UnsecuredConsideredGood:

Otheradvances 263.03

191.47

Securitydeposits 10.48

12.26

TOTAL 273.51

203.73

NOTE`7'

INVENTORIES (Rs.InLacs)


Stockofgoodstraded 234.25 1,291.38Goodsintransit - -

TOTAL 234.25 1,291.38

NOTE`8'

TRADERECEIVABLES-Current (Rs.InLacs)


UnsecuredandConsideredGood 6,434.01

8,679.13

TOTAL 6,434.01

8,679.13

NOTE`9'

CASHANDCASHEQUIVALENTS (Rs.InLacs)


CashonHand 5.15

10.36

BalancewithBanks

-InCurrentAccounts 2.08

32.77

ChequesinHand -

-

TOTAL 7.23

43.13

Forthepurposeofstatementofcash�lows,cashandcashequivalentscompriseoffollowing:-

(Rs.InLacs)


Cashandcashequivalentsasperbalancesheet 7.23

43.13

BankOverdraft (1,351.16)

(5,608.21)

TOTAL (1,343.93)

(5,565.08)

PARTICULARS

PARTICULARS

PARTICULARS

PARTICULARS

PARTICULARS

PARTICULARS



NOTE`10'

OTHERBANKBALANCES (Rs.InLacs)


BalancewithBanks

-InFixedDepositAccounts 46.16

17.43

TOTAL 46.16

17.43

NOTE`11'

CURRENTTAXASSETS/LIABILITY (Rs.InLacs)


CurrentTaxAssets

AdvanceIncomeTax 25.00

24.00

TDS/TCSReceivable 7.01

10.61

32.01

34.61

CurrentTaxLiability

ProvisionforTaxation 36.46

35.98

36.46

35.98

NetCurrentTaxAssets/(Liability) (4.45)

(1.37)

NOTE`12'

OTHERCURRENTASSETS (Rs.InLacs)


AdvancetoSuppliers&Others 136.80

192.79

BalanceswithGovt.Departments 12.01

158.29

BalanceswithGovt.Departments(PendingCases) 48.61

46.01

TOTAL 197.42

397.09

PARTICULARS

PARTICULARS

PARTICULARS

NOTE`13'

EQUITYSHARECAPITAL (Rs.InLacs)


AuthorisedShareCapital

1,10,00,000EquitySharesofRs10/-each 1,100.00

1,100.00

Issued,SubscribedandPaidupCapital

1,10,00,000EquitySharesofRs.10/-eachfullypaidupincash 1,100.00

1,100.00

TOTAL 1,100.00 1,100.00

13.1 ReconciliationofShares:


OpeningShareCapital 11,000,000 11,000,000

Add:SharesissuuedDuringtheyear - -

Total 11,000,000 11,000,000

Less:ReductioninCapital - -

ClosingShareCapital 11,000,000 11,000,000

13.2 ListofShareholdershaving5%ormoreShares


1 BindalsPapersMillsLimited 707893 707893

%ShareHolding 6.44% 6.44%

PARTICULARS

NameoftheShareholder

PARTICULARS



13.3 Rights,Preferences&Restrictionsattachedtoshares

-NoBonusSharehasbeenissuedbythecompanysinceincorporationofthecompany

-ThecompanyhasoneclassofequityshareshavingaparvalueofRs.10/-pershare.Eachshareholderiseligibleforonevoteper

shareheld.

-Intheeventofliquidation,theequityshareholdersareeligibletoreceivetheremainingassetsofthecompanyafterdistribution

ofallpreferentialamounts,inproportiontotheirshareholding.

NOTE`14'

OTHEREQUITY (Rs.InLacs)


(a) Securitypremium

OpeningBalance 928.57

928.57

Add:Additionduringtheyear -

-

ClosingBalance(a) 928.57

928.57

(b) Pro�itandLossAccountOpeningBalance 391.42 601.37

Add:Pro�it/LossDuringTheYear 33.78 (209.95)

ClosingBalance(b) 425.20 391.42

(c) OtherComprehensiveIncome

OpeningBalance (8.36) (0.35)

Add:Additionduringtheyear (2.71) (8.01)

ClosingBalance(c) (11.07) (8.36)

TOTAL 1,342.70 1,311.63

PARTICULARS

NOTE`15'

BORROWINGS-Non-current (Rs.InLacs)


SECURED(a) VehicleLoans

-FromPrivateBanks 83.07 99.63Less:CurrentMaturitiesofLongTermBorrowing 28.37 30.41shownunderOtherCurrentLiabilities 54.70 69.22

(b) TermLoans-FromFinancialInstitutions 362.62 370.22Less:CurrentMaturitiesofLongTermBorrowing 59.87 47.52shownunderOtherCurrentLiabilities 302.75 322.70

UNSECURED(a) -FromDirectors 13.93

8.08

(b) -FromOthers -

12.39

(c) -FromBodyCorporate 385.00

386.47

398.93

406.94

TOTAL 756.38

798.86

15.1 NATUREOFSECURITYFORTERMLOANSFROMFINANCIALINSTITUTIONS

15.2 NATUREOFSECURITYOFVEHICLETERMLOANS

VehicleTermLoansaresecuredagainstHypothecationofrespectiveVehiclesandpersonalguaranteeofdirectors.

Term Loan from PNB Housing Finance Limited is secured against Security of Of�ice Building of the Company at Unit No.218-222,

Plot No.2, Community Centre, Pitampura, Delhi. Term Loan from Kotak Mahindra Bank Limited is secured against Security of Of�ice

Building of the Company at Unit No.217 Plot No.2, Community Centre, Pitampura Delhi. Term Loan form ICICI Bank and Indiabulls

HousingFinanceLimitedissecuredagainstUnitNo.216andotherOf�icebuildingofthecompany

PARTICULARS



NOTE`16'PROVISIONS-Non-current (Rs.InLacs)


Provisionforemployeebene�its

ProvisionforGratuity 33.91

22.86

TOTAL 33.91

22.86

PARTICULARS

NOTE`17'

DEFERREDTAXLIABILITY (Rs.InLacs)


DeferredTaxLiability

Opening 52.79 40.03

Addition/(Deletion) 11.49 12.76

64.28 52.79

DeferredTaxAssets

Opening - -

Addition/(Deletion) - -

- -

NetDeferredTaxAssets/(Liability) (64.28) (52.79)

17.1 Thecomponentsthatgaverisetodeferredtaxliabilitiesandassetsareasfollows:

(Rs.InLacs)


Deferredtaxliabilityinrelationto:

Property,plantandequipment&intangibleasset 64.28 52.79Totaldeferredtaxliability 64.28 52.79

Deferredtaxassetsinrelationto:

- -Totaldeferredtaxassets - -

NOTE`18'OTHERNONCURRENTLIABILITIES (Rs.InLacs)


Deferredpaymentobligationonunsecuredloan

-FromDirectors 6.07

3.52

-FromOthers -

5.40-FromBodyCorporate 167.71

168.36

TOTAL 173.78

177.28Less:Payableinnext12months 34.76

35.46

transfertocurrentliabilities

TOTAL 139.02

141.82

Deferred tax assets and deferred tax liabilities have been offset wherever the Company has a legally enforceable right to set off

current tax assets against current tax liabilities and where the deferred tax assets and deferred tax liabilities relate to income taxes

leviedbythesametaxationauthority.

PARTICULARS

PARTICULARS

PARTICULARS



NOTE`19'

BORROWINGS-Current (Rs.InLacs)


Secured

WorkingCapitalLoan-RepayableonDemand

-FromBankofMaharasthra 520.81

1,454.27

-FromBankofIndia -

1,788.76

-FromOrientalBankofCommerce 830.35

2,365.18

[SecuredbywayofHypothecationofStocks,Guaranteeof

Directors&Others]

TOTAL 1,351.16

5,608.21

19.1 NATUREOFSECURITYFORCASHCREDITS

a.IndustriallandatVillageBhandura,parganaMuzaffarnagar,inthenameofM/sBindalRollingMillsLimited.

b.IndustriallandatVillageKukada,parganaMuzaffarnagar,inthenameofM/sBindalPulp&Paper(P)Limited.

c.Residential�latbearingNo.W-111,GreaterKailashPart-1NewDelhiinthenameofSmt.MadhulikaGoelW/oSh.NeerajGoel.

e.PledgeofFDRofRs.6.00Lacs.

NOTE`20'

TRADEPAYABLES-Current (Rs.InLacs)


Acceptance

SundryCreditorsagainstILC/FLC(NetofMargin) - 1,204.87Otherthanacceptance

(A)totaloutstandingduesofmicroenterprisesandsmallenterprises - -(B)totaloutstandingduesofcreditorsotherthanmicroenterprisesandsmallenterprises 2,888.33 833.22

TOTAL 2,888.33 2,038.09

NOTE`21'

OTHERFINANCIALLIABILITIES-Current (Rs.InLacs)


Currentmaturitiesoflongtermdebt 123.00

113.39

TOTAL 123.00

113.39

NOTE`22'

OTHERCURRENTLIABILITIES (Rs.InLacs)


AdvancefromCustomers 129.39

63.22Governmentduespayable 13.80

125.91

Otherpayable 12.48

29.14

TOTAL 155.67

218.27

PARTICULARS

PARTICULARS

Working Capital Limit from Bank of Maharashtra, Oriental Bank of Commerce and Bank of India is secured by First charge on the

�loating assets of the company (Present & future) on parri passu basis and personal guarantee of the directors of the company

along with personal guarantee of Sh. Rakesh Kumar & Sh. Neeraj Goel, Smt. Madhulika Goel, relatives of the directors of the

company & corporate guarantee of Bindal Pulp & Papers Private Limited and Bindal Rolling Mills Limited. The working capital

limitisfurthercollaterallysecuredbyEquitableMortgageoffollowingspropertiesonparri–passubasis:

PARTICULARS

PARTICULARS

d. Residential House at Block No. A-36, DLF City-1, Golf course road, Gurgaon, Haryana in the name of Smt. Madhulika Goel W/o Sh.

NeerajGoel.



NOTE`23'

PROVISIONS-Current (Rs.InLacs)


Provisionforemployeebene�its:

-ProvisionforGratuity 12.98

11.74

Others:

ProvisionforAuditFees 1.58

2.02

TOTAL 14.56

13.76

NOTE`24'

REVENUEFROMOPERATION (Rs.InLacs)

YearEnded YearEndedMarch31,2019 March31,2018

Saleofproducts 24,773.25 32,721.64

Saleofservices 447.21 136.62

TOTAL 25,220.46 32,858.26

Saleofproducts

DomesticTurnover 24,773.25 32,721.64

Saleofservices

DomesticTurnover 447.21 136.62

TOTAL 25,220.46 32,858.26

NOTE`25'

OTHERINCOME (Rs.InLacs)


InterestIncome 11.21 24.55CarRentalIncome - 0.27RentReceived 2.09 2.10OtherIncome - 1.78

TOTAL 13.30 28.70

NOTE`26'

COSTOFTRADEDGOODS (Rs.InLacs)


PurchaseofGoodsTraded 23,204.09

32,514.32

TOTAL 23,204.09

32,514.32

NOTE`27'

CHANGEININVENTORIESOFTRADEDGOODS (Rs.InLacs)


OpeningStockofTradedGoods 1,291.38

65.33ClosingStockofTradedGoods 234.25

1,291.38

StockDecreased/(Increased)by 1,057.13

(1,226.05)

PARTICULARS

PARTICULARS

PARTICULARS

PARTICULARS

PARTICULARS



NOTE`28'

EMPLOYEEBENEFITSEXPENSES (Rs.InLacs)


SalariesandWages 144.36

153.98

ContributiontoProvidentFund 3.74

3.11

ContributiontoESI 1.23

1.17

Bonus 5.58

4.98

Gratuity 8.22

5.44

StaffWellfareExpenses 2.40

2.68

TOTAL 165.53

171.36

NOTE`29'

FINANCECOSTS (Rs.InLacs)


InterestonWorkingCapital 400.92

820.68

InterestonTermLoans&OtherCharges 50.88

110.42

InterestonlatepaymentofTDS 53.21

-

TOTAL 505.01

931.10

NOTE`30'

OTHEREXPENSES (Rs.InLacs)


SellingandDistributionExpenses:

AdvertisementExpenses 0.27 0.35

BusinessPromotionExpenses 0.07 15.86

CommissionPaid - -

FreightOutward 32.91 140.46

AdministrativeExpenses:

A.G.Meeting/OtherMeetingExpenses 0.85 0.60AuditExpenses - 0.07Auditor'sRemuneration 1.75 2.50ComputerRunning&MaintenanceExpenses 0.75 0.47Director'sRemuneration 36.00 36.00Donations 0.28

-

Electricity&WaterSupplyExpenses 3.63

3.74

Fees&Subscriptions -

0.32

GSTPenalty 1.05

-

InsuranceExpenses 2.02

1.66LegalandProfessionalFee 17.38

42.86

LossonSaleofCar 2.34

0.43MiscellaneousExpenses 0.46

4.25

Of�iceExpenses 1.99

0.47PettyBalancesWrittenoff (0.25)

0.22

Postage&Telegram 3.11

3.87

Printing&Stationery 0.24

0.45

RatesandTaxes 1.56

1.41

Rebate&Discount 0.90

-

Rent 3.87

9.76

Repair&Of�iceMaintenanceExpenses 14.31

14.32

SalesTaxExpenses 0.49

-

ServiceTaxExpenses -

1.08

Taxpaid(ExcessProvision)P/Years -

0.04

TelephoneExpenses 2.36

4.59

TravellingExpenses 2.16

9.28

TravellingExpenses(Foreign) -

9.24

VehicleRunning&Maintenance&Conveyance 4.84

0.33

PARTICULARS

PARTICULARS

PARTICULARS

TOTAL 135.34 304.63



NOTE`31'

EXCEPTIONALITEMS (Rs.InLacs)


IncomeTaxExpensesagainstSETCOMOrder 7.04

202.62

ServiceTax 38.64

113.97

TOTAL 45.68

316.59

NOTE`32'

INCOMETAX

32.1 AmountrecognisedinStatementofPro�itandLoss

(Rs.InLacs)

YearEnded YearEndedMARCH31,2019 MARCH31,2018

CurrentTax

Currentyear 37.82 39.94

MATcreditentitlement - -

Total 37.82 39.94

DeferredTax

ChangeinDeferredtaxassetsandliabilities 11.49 12.76

Total 11.49 12.76

Incometaxexpensereportedinthestatementofpro�itandloss 49.31 52.70

32.2 Reconciliationofeffectivetaxrate

(Rs.InLacs)

YearEnded YearEndedMARCH31,2019 MARCH31,2018

Pro�itbeforetax 83.09 (157.25)EnactedtaxrateinIndia 33.384% 33.063%

Computedtaxexpense 27.74 -Increase/(reduction)intaxesonaccountof:

Exceptionalitems 19.35 52.68Donation 0.01 -Others 2.21 0.02Incometaxexpenserecordedinthestatementofpro�itandloss 49.31

52.70

NOTE`33'

EARNINGSPERSHARE (Rs.InLacs)


NetPro�itfortheyear 33.78

(209.95)Weightedaveragenumberofequityshares(Nos) 11,000,000

11,000,000

NominalValueperEquityShare(Rs.) 10.00

10.00Basicearningspershare(Rs.) 0.31

(1.91)

Dilutedearningspershare(Rs.) 0.31

(1.91)

Exceptional items contain penalties imposed by different revenue authorities under pending litigation and company has accepted

theorderwithoutanyfurtherdispute.

PARTICULARS

PARTICULARS

PARTICULARS

PARTICULARS



NOTE '34'

CONTINGENT LIABILITIES

Claims against the Company not acknowledged as debts

(Rs. In Lacs)

Year Ended Year Ended

March 31, 2019 March 31, 2018

Sales Tax/Vat 698.70 698.70

ILC/FLC - 100.40

Bank Gaurantee

NOTE '35'

AUDITOR'S REMUNERATION (Rs. In Lacs)


March 31, 2019 March 31, 2018

1. Statutory Auditor (i) Statutory audit fee 1.50 2.25

(ii) Tax audit fee 0.25 0.25

TOTAL 1.75 2.50

NOTE '36'

DIRECTOR’S REMUNERATION (Rs. In Lacs)


Director's Remuneration 36.00 36.00

NOTE '37'

RELATED PARTY TRANSACTION

(a) LIST OF RELATED PARTIES AND RELATIONSHIP

(i) Key management personnel (KMP) & their relatives

Deepak Goel Wholetime Director

Parveen Kumar Goel Wholetime Director

Vipin Kumar Goel CFO

Amit Agarwal Director

Mansi Company Secretary

Pankaj Goel Relative

Ishita Goel Relative

Chirag Goel Relative

Udit Goel Relative

Nutan Goel Relative

Vaishali Mathpal Company Secretary (Resigned)

(ii) Companies in which Director is a Member or Director

V.R. Digital Private Limited

Swabhiman Vyapaar Pvt Ltd

Satyavan Sales Promotion Pvt Ltd

Roshan Lal Ashok Kumar

Kaushalya Devi Enterprises

Coral Minerals Private Limited

PARTICULARS

Apart of it, The company has also granted its corporate guarantee for credit facilities availed by Bindal Merchnadise (Trading unit of

Bindals Papers Mills Limited) from Allahabad Bank, Parliament Street, New Delhi Branch.The company has also granted its guarantee

for credit facilities availed by Satyavan Sales Promotion Private Limited from Bank of Maharashtra, New Delhi Branch. However,

Satyavan Sales Promotion Private Limited has repaid the entire amount of the credit facility to the bank in the month of April, 2019 and

thus, guarantee granted by Neeraj Paper Marketing Limited has been released by the bank.

PARTICULARS

PARTICULARS



Bindal Industries Limited

Brina Gopal Traders Private Limited

Bindal Rolling Mills Limited

Shakumbhari Pulp and Paper Mills Limited

Bindal Pulp and Papers Private Limited

(b) RELATED PARTY TRANSACTION

(Rs. In Lacs)

NATURE OF TRANSACTION Year Ended Year Ended

March 31, 2019 March 31, 2018

Directors Remuneration 18.00 18.00

Amount Payable 0.68 -

Unsecured Loan Received 20.00 -

Unsecured Loan Paid 11.60 3.40

Amount Payable 20.00 11.60

Parveen Kumar Goel Directors Remuneration 18.00 18.00 Amount Payable 0.78 9.69

Vipin Kumar Goel Salary 6.25 6.25

Amount Payable 1.50 1.50

Vaishali Mathpal Salary 2.03 3.60

Amount Payable - 0.30

Mansi Salary 1.49 3.60


Pankaj Goel Salary 6.60 6.60 Amount Payable 0.50 8.24

Unsecured Loan Received 3.41 3.22


Interest paid on U/S Loan - -

Amount Payable - -

Unsecured Loan Received 0.82 0.45


Interest paid on U/S Loan - 0.29

Amount Payable - -

Unsecured Loan Received - -


Interest paid on U/S Loan 0.41 0.28


Unsecured Loan Received 5.46 -


Interest paid on U/S Loan 0.33 0.90


Purchases 3.75 7.14

Sales 109.48 271.73

Amount Receivable - 220.52


Roshan Lal Ashok Kumar Transfer of Investments in shares 25.00 -

Nutan Goel

Shakumbhari Pulp and Paper Mills Limited

Udit Goel

NAME OF THE RELATED PARTY

Deepak Goel

Ishita Goel

Chirag Goel



NOTE '38'

Financial Risk Management Objectives and Policies38.1 Financial risk factors

38.1.1 Market Risk

(a) Foreign Currency Risk and sensitivity

(b) Commodity price risk and sensitivity

38.1.2 Credit risk

The ageing analysis of trade receivables as of the reporting date is as follows:

(Rs. In Lacs)

Trade receivables as at March 31, 2019 302.69 6,131.32 6,434.01

Trade receivables as at March 31, 2018 470.26 8,208.87 8,679.13

38.1.3 Liquidity risk

The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2019:

(Rs. In Lacs)

Borrowings - Current 1,351.16 1,351.16 - -

Borrowings - Non-Current 844.62 88.24 756.38 -

Trade payables 2,888.33 2,888.33 - -

Other financial liabilities - Current 123.00 123.00 - -

PARTICULARS 1-5 year Above 5 year

The Company’s operational activities expose to various financial risks i.e. market risk, credit risk and risk of liquidity. The Company

realizes that risks are inherent and integral aspect of any business. The primary focus is to foresee the unpredictability of financial

markets and seek to minimize potential adverse effects on its financial performance. The primary market risk to the Company is foreign

exchange risk & interest rate risk. The Company uses derivative financial instruments to reduce foreign exchange risk exposures.

The senior professionals working to manage the financial risks and the appropriate financial risk governance frame work for the

Company are accountable to the Board Audit Committee. This process provides assurance to the Company’s senior management that

the Company’s financial risk-taking activities are governed by appropriate policies and procedures and that financial risks are

identified, measured and managed in accordance with Company’s policies and company’s risk appetite.

The Company’s exposure to financial risks is to a variety of financial risks, including the effect of changes in foreign currency

exchange rates, if any. Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate

because of changes in foreign exchange rates. The Indian Rupee is the Company’s functional currency. As a consequence, the

Company’s results are presented in Indian Rupee and exposures are managed against Indian Rupee accordingly. The Company has

foreign currency exposure on account of import of traded goods.

The Company is exposed to the movement in price of key materials in domestic and international markets. The Company has in place

policies to manage exposure to fluctuations in the prices of the key materials used in operations. The Company manages fluctuations in

material price through hedging in the form of advance procurement when the prices are perceived to be low and also enters into advance

buying contracts as strategic sourcing initiative in order to keep material and prices under check cost of material hedged to the extent

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a

financial loss. The Company is exposed to credit risk from its operating activities (primarily for trade receivables) and from its

financing activities, including deposits with banks and financial institutions.

PARTICULARS Others Total

Liquidity risk is the risk that the Company may not be able to meet its present and future cash and collateral obligations without

incurring unacceptable losses. The Company’s objective is to, at all times maintain optimum levels of liquidity to meet its cash and

collateral requirements. The Company principal sources of liquidity are cash and cash equivalents and the cash flow generated from

operations. The Company closely monitors its liquidity position and deploys a robust cash management system.

Upto 1 yearCarrying

Amount

More than

6months



The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2018:

(Rs. In Lacs)

Borrowings - Current 5,608.21 5,608.21 - -

Borrowings - Non-Current 876.79 77.93 798.86 -

Trade payables 2,038.09 2,038.09 - -

Other financial liabilities - Current 113.39 113.39 - -

38.2 Competition and Price risk

38.3 Capital Risk Management

(Rs. In Lacs)

As at As at

March 31, 2019 March 31, 2018

Borrowings 2,195.78 6,485.00

Less: Cash and cash equivalents 7.23 43.13

Less: Other bank balances 46.16 17.43

Net debt 2,142.39 6,424.44

Equity 2,442.70 2,411.63

Capital and Net debt 4,585.09 8,836.07

Gearing Ratio 47% 73%

NOTE '39'

(Rs. In Lacs)

As at As at

March 31, 2019 March 31, 2018

(i) - -

(ii) - -

(iii) - -

(iv) the amount of interest accrued and remaining unpaid at the end of each accounting year; and - -

(v) - -

The above information regarding Micro, Small and Medium Enterprises has been determined to the extent such parties have been

identified on the basis of information available with the company.

the amount of further interest remaining due and payable even in the succeeding years, until

such date when the interest dues as above are actually paid to the small enterprise, for the

purpose of disallowance as a deductible expenditure under section 23.

PARTICULARS 1-5 year Above 5 year

The Company faces competition from local competitors. Nevertheless, it believes that it has competitive advantage in terms of high

quality products and by continuously upgrading its expertise and range of products to meet the needs of its customers.

The Company’s policy is to maintain an adequate capital base so as to maintain creditor and market confidence and to sustain future

development. Capital includes issued capital, share premium and all other equity reserves attributable to equity holders. In order to

strengthen the capital base, the company may use appropriate means to enhance or reduce capital, as the case may be.

PARTICULARS

Disclosure required under the Micro, Small and Medium Enterprises Development Act, 2006 (“MSMED Act, 2006”) as at March 31,

2019 and March 31, 2018 is as follows:

PARTICULARS

the principal amount and the interest due thereon remaining unpaid to any supplier as at the

end of each accounting year;

the amount of interest paid by the buyer in terms of section 16, along with the amounts of the

payment made to the supplier beyond the appointed day during each accounting year;

the amount of interest due and payable for the period of delay in making payment (which have

been paid but beyond the appointed day during the year) but without adding the interest

specified under this Act;

Upto 1 yearCarrying

Amount



NOTE '40'

FAIR VALUES

(Rs. In Lacs)

March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018

Financial Assets

- At amortised cost

Investments - 25.00 - 25.00

Trade receivables 6,434.01 8,679.13 6,434.01 8,679.13

Cash and cash equivalents 7.23 43.13 7.23 43.13

Bank balances other than covered above 46.16 17.43 46.16 17.43


- At amortised cost

Borrowings (non-current) 756.38 798.86 756.38 798.86

Borrowings (current) 1,351.16 5,608.21 1,351.16 5,608.21

Trade payables 2,888.33 2,038.09 2,888.33 2,038.09

Other Financial liabilities 123.00 113.39 123.00 113.39

The following methods / assumptions were used to estimate the fair values:

(i)

(ii)

There are no significant unobservable inputs used in the fair value measurement.

NOTE '41'

EMPLOYEE BENEFITS

The Group has recognised the following amounts in the consolidated statement of profit and loss:

41.1 Defined contribution plan (Rs. In Lacs)


March 31, 2019 March 31, 2018

Employer’s contribution to Provident Fund 3.74 3.11

3.74 3.11

41.2 Defined benefit plan

41.2.1 Gratuity

(i) The assumptions used to determine the benefit obligation are as follows:-

As at As at

March 31, 2019 March 31, 2018

Discount rate (per annum) 7.70% 7.50%

Salary growth rate (per annum) 7.50% 7.50%

Expected rate of return on plan assets (per annum) 0.00% 0.00%

PARTICULARS

The carrying value of cash and cash equivalent, other bank balances, trade receivables, short term borrowings, other financial liabilities

and trade payables approximate their fair value mainly due to the short-term maturities of these instruments.

The fair value of non current borrowings is estimated by discounting future cash flows using rates applicable to instruments with

similar terms, currency, credit risk and remaining maturities. The fair values of non current borrowings is assessed by the management

to be same as their carrying value and is not expected to be significantly different if estimated by discounting future cash flows using

rates currently available for debt on similar terms, credit risk and remaining maturities.

PARTICULARS

Gratuity liability is defined benefit obligation and is provided for on the basis of an actuarial valuation on projected unit credit method

made at the end of each reporting period. The plan is not funded by the Group. Such liability is included in salaries, wages and bonus.

Set out below is the comparison by class of the carrying amounts and fair value of the Company’s financial instruments that are

recognised in the financial statements.

PARTICULARSCarrying Amount Fair Value



(ii) Reconciliation of opening and closing balances of defined benefit obligation:(Rs. In Lacs)

As at As at

March 31, 2019 March 31, 2018

Present Value of Obligation at the beginning 34.60 17.19

Current Service Cost 5.55 4.15

Interest Cost 2.67 1.29

Re-measurement (or Actuarial) (gain)l o/ss arising from:

change in demographic assumptions - -

change in financial assumptions (0.90) 0.22

experience variance (i.e. Actual experience vs assumptions) 4.97 11.75

Benefits Paid - -

Past Service Cost - -

Changes in Foreign Currency Exchange Rates - -

Loss / (Gains) on Curtailments - -

Settlement Cost - -

Acquistion Adjustment - -

Present Value of Obligation as at the end 46.89 34.60

(iii) Amount charged to the statement of profit and loss:

(Rs. In Lacs)


March 31, 2019 March 31, 2018

Service cost 5.55 4.15

Interest cost 2.67 1.29

8.22 5.44

(iv) Amount recognised in Other Comprehensive Income :

(Rs. In Lacs)

As at As at March 31, 2019 March 31, 2018

Re-measurement (or Actuarial) (gain) / loss arising from:

change in demographic assumptions - -

change in financial assumptions (0.90) 0.22

experience variance (i.e. Actual experience vs assumptions) 4.97 11.75

Return on plan assets, excluding amount recognized in net interest expense

Re-measurement arising because of change in effect of asset ceiling - -

Components of defined benefit costs recognized in other comprehensive income(gain)/loss 4.07 11.97

(v) Bifurcation of PBO at the end of the year(Rs. In Lacs)

As at As at

March 31, 2019 March 31, 2018

Current liability 12.98 11.74

Non-current liability 33.91 22.86

(vi) Expected Cashflows(Undiscounted)(Rs. In Lacs)

As at As at

March 31, 2019 March 31, 2018

Year 1 12.98 11.74

Year 2 1.19 0.39

Year 3 5.32 0.46

Year 4 5.96 2.98

Year 5 5.00 6.72

Year 6+ 8.47 46.44

PARTICULARS

PARTICULARS

PARTICULARS

PARTICULARS

PARTICULARS



NOTE '42'

NOTE '43'

All amounts stated in the financial statement are in Lakhs except otherwise stated.

NOTE '44'

Amount of previous year have been regrouped or rearranged wherever required to confirm to the current year presentation.







DIN - 00014638 DIN - 00200527

(CA SUNIL KUMAR)

Partner

M.No. 408730




In the opinion of the Board of Directors, Current Assets, Loans and Advances have value on realisation in the ordinary course of the

business at least equal to the amount at which they have been stated in the Balance Sheet as at 31st March, 2019.

Sd/-

Sd/-

Sd/-

Sd/-Sd/-



L74899DL1995PLC066194

218–222,AgarwalPrestigeMall,PlotNo.2,Communutycenter,AlongRoadNo.44,

Pitampura,NewDelhi-110034

FormNo.MGT-11Proxyform

[Pursuanttosection105(6)oftheCompaniesAct,2013andrule19(3)oftheCompanies(ManagementandAdministration)Rules,2014]

Nameofthemember/s

Registeredaddress E-mailId FolioNo/ClientId DPID

I/We,beingthemember/sof_______________No.ofEquitySharesoftheabovenamedCompany,hereby

Name

Address

E-mailId

Signature

Orfailinghim

Name

Address

E-mailId

Signature

Orfailinghim

Name

Address

E-mailId

Signature



asmy/ourproxytoattendandvote(onapoll)forme/usandonmy/ourbehalfatthe24thAnnualGeneralMeetingof

the Company, to be held on the Monday, 30th September, 2019 at Bipin Chandra Pal Memorial Bhavan, A-81,

ChittaranjanPark,NewDelhi-110019at11:00a.m.andatanyadjournmentthereofinrespectofsuchresolutionsas

areindicatedbelow:

ResNo.

Resolution FOR* AGAINST*

1. Adoption of the Audited Balance Sheet and the Pro�it & Loss AccounttogetherwiththeReportsofDirectors&Auditorsthereonforthe�inancialyearended31stMarch,2019.

2. Reappointment of Mr. Amit Agarwal (DIN 01336763), who retires byrotationatthismeetingandbeingeligible,offerhimselfforreappointment.

3. AppointmentofMs.NehaAgarwalasaNon-ExecutiveIndependentDirectoroftheCompany

4. Appointment of Ms. Pooja Bhardwaj as a Non-Executive IndependentDirectoroftheCompany

5. Re-appointment of Mr. Ankur Sangal as a Non-Executive IndependentDirectoroftheCompany

6. Re-appointment of Mr. Deepak Goel (DIN 00200527) as Whole TimeDirectorofthecompany

7. Re-appointmentofMr.PraveenKumarGoel(DIN00014638)asWholeTimeDirectorofthecompany

Signedthis………………dayof………2019

Af�ixRevenueStamp

SignatureofShareholder:

SignatureofProxyholder(s) :

*Notes:

1. Pleaseputa ‘X’ intheBoxintheappropriatecolumnagainsttherespectiveresolutions.Ifyouleavethe ‘For’or ‘Against’columnblankagainstanyorall theresolutions,yourProxywillbeentitled tovoteinthemannerashe/shethinksappropriate.

2. A Proxy need not be aMember of the Company. Pursuant to the provisions of Section 105 of theCompaniesAct,2013,apersoncanactasProxyonbehalfofnotmorethan�iftyMembersandholdingin aggregate notmore than ten percent of the total Share Capital of the Company carrying votingrights.Membersholdingmore than tenpercent of the total ShareCapital of the Company carryingvotingrightsmayappointasinglepersonasProxy,whoshallnotactasProxyforanyotherMember.

3. ThisformofProxy,tobeeffective,shouldbedepositedattheRegisteredOf�iceoftheCompanyat218–222,AggarwalPrestigeMall,PlotNo.2,CommunityCenter,AlongRoadNo.44,Pitampura,NewDelhi–110034notlaterthanFORTY-EIGHTHOURSbeforethecommencementoftheaforesaidmeeting.



(CIN:L74899DL1995PLC066194)Regd.Of�ice:218–222,AggarwalPrestigeMall,PlotNo.2,CommunityCenter,

AlongRoadNo.44,Pitampura,NewDelhi–110034Website:www.neerajpaper.com;Tel.:+911147527700,Fax-+911147527777

ATTENDANCESLIP

Please�illAttendanceSlipandhanditoverattheentranceofthemeetinghall

1. Name(s)ofMember(s)includingjointholders,ifany(inBlockLetter(s)

2. RegisteredAddressoftheSole/FirstnamedMember 3. RegisteredFolioNo./*DPIDNo.andClientIDNo.

(*ApplicabletoMembersholdingsharesindematerializedform)

4. NumberofSharesheld

I/Weherebyrecordmy/ourpresenceatthe24THAnnualGeneralMeetingoftheCompany,tobeheldontheMonday,

30th September, 2019 at 11:00 a.m. at Bipin Chandra Pal Memorial Bhavan, A-81, Chittaranjan Park, New Delhi-

110019.

________________________

SignatureofMember/Proxy



thRouteM

apforVen

ueof24AGM.



If undelivered please return to :NEERAJ PAPER MARKETING LIMITED218- 222, Aggarwal Prestige MallPlot No. 2, Community CenterAlong Road No. 44, PitampuraNew Delhi - 110034

24th annual report 2018-19 - neeraj paper marketing ltd paper annual... · 2019-09-03 · neeraj...

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