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  • ARIHANT MULTI COMMERCIAL LIMITED (Formerly known as Lifeline Drugs and Pharma Limited)

    nd 32 ANNUAL REPORT

    2013-14

  • ARIHANT MULTI COMMERCIAL LIMITED (Formerly known as Lifeline Drugs and Pharma Limited)

    nd32 ANNUAL REPORT 2013-14

    Board of Directors

    Alok Kr. Behera - Managing Director Deepak S. Bansal - Executive Director Ranjit Modi - Independent Director Mahesh H. Parihar - Independent Director

    Corporate Identification No.: L51909MH1982PLC028972

    Company Secretary & Compliance Officer : Mr. Pratik K. Pujara

    Statutory Auditors: M/s. Rishikesh Mishra & Associates Chartered Accountants

    Bankers: ICICI Bank Ltd. Dhanlaxmi Bank

    Registered Office: Arihant Multi Commercial Limited (Formerly known as Lifeline drugs and Pharma Limited)

    Add :- F/3, C- Wing, 1st Floor, Shah Arcade 1, Rani Sati Marg, Malad (E), Mumbai - 400 097 Tele: +91 22 28822184 Fax : +91 22 28822183 Email : info@lifelinedrugsnadpharmaltd.com

    Registrar & Share Transfer Agent: Purva Sharegistry (India) Pvt. Ltd. No. 9, Shiv Shakti Ind. Estate Gr. Floor, J. R. Boricha Marg Lower Parel, Mumbai-400 011

    Annual General Meeting: thDate : 26 September, 2014

    Time : 2.30 P.M.

    Venue : Ramee Guest Line Hotel 462, A. B. Nair Road, Opp. Sun-N-Sand Hotel, Juhu, Vile Parle (W), Mumbai-400 049

    INDEX

    vNotice . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    vDirectors’ Report . . . . . . . . . . . . . . . . . . .

    vManagement Discussion & Analysis . . . .

    vReport on Corporate Governance . . . . . .

    vSecretarial Compliance Report . . . . . . . .

    vAuditors’ Report . . . . . . . . . . . . . . . . . . . .

    vBalance Sheet . . . . . . . . . . . . . . . . . . . . .

    vStatement of Profit & Loss . . . . . . . . . . . .

    vStatement of Cash Flow. . . . . . . . . . . . . .

    vNotes on Financial Statements . . . . . . . .

    1

  • NOTICE ndNotice is hereby given that the 32 Annual General Meeting of the members of Arihant Multi

    Commercial Limited (Formerly known as Lifeline Drugs and Pharma Limited) will be held on Friday, th26 September, 2014 at 2.30 P.M. at Ramee Guest Line Hotel, 1st Floor, 462, A. B. Nair Road, Opp. Sun-

    N-Sand, Hotel, Juhu, Vile Parle (W), Mumbai-400 049 to transact following businesses:

    ORDINARY BUSINESS:

    1. To receive consider and adopt the audited profit and loss account for the financial year ended March 31, 2014 and the Balance Sheet as on that date together with Reports of the Directors and Auditors thereon

    SPECIAL BUSINESS:

    2. To Appoint M/s. Maheshwari and Co., Chartered Accountants (ICAI FRN – 105834W) as the Statutory Auditor of the Company and in this regard to consider and if thought fit, to pass, with or without modification(s), the following Resolution, as of Special Resolution:

    “RESOLVED THAT pursuant to the provisions of Section 139 and all other applicable provisions, if any, of the Companies Act, 2013 and the Rules framed thereunder (including any statutory modification(s) or re-enactment thereof for the time being in force) and based on the recommendations of the Audit Committee, M/s. Maheshwari and Co. Chartered Accountants, Mumbai (FRN – 105834W), who have offered themselves for appointment as Auditors to the Company and have confirmed their eligibility in terms of the provisions of Section 141 of the Companies Act, 2013 and Rule 4 of Companies (Audit and Auditors) Rules, 2014, be and are hereby

    ndappointed as Statutory Auditors of the Company, to hold office from the conclusion of the 32 thAnnual General Meeting up to the conclusion of the 37 consecutive Annual General Meeting

    (subject to ratification by the members at every subsequent AGM) on such terms and remuneration as agreed upon between the Audit Committee or Board of Directors and the Auditors.”

    “RESOLVED FURTHER THAT the Board of Directors be and is hereby authorized to do all such acts, deeds, matters and things as may be considered necessary, desirable or expedient to give effect to this aforesaid resolution.”

    3. To Appoint Mr. Deepak Bansal (holding DIN : 03578201) as Joint Managing Director of the company and in this regard to consider and if thought fit to pass with or without modifications the following resolution as an ordinary resolution :

    “RESOLVED THAT Pursuant to the provisions of Section 196, 197,198 and 203 and other applicable provisions, if any, of the Companies Act, 2013 (the Act) read with schedule V to the Companies Act, 2013 and Companies (Appointment and Remuneration of Managerial personnel ) Rules, 2014 (including any statutory modification (s) or re-enactment thereof for the time being in force) , consent of the company be and is herby accorded to the appointment of Mr. Deepak S. Bansal (holding DIN : 03578201), who was appointed as an Additional Director (Whole-time,

    thExecutive) of the Company at the Board meeting held on 17 January, 2014 and who holds the office up to the date of this Annual General Meeting in terms of provision of section 161 of the Act, and in whose respect the Company has received a notice from a member under Section 160 of the Act, together with necessary deposit as mentioned in the said section, proposing the candidature of Mr. Deepak S. Bansal for the office of Director of the Company be and is hereby appointed as Joint

    st Managing Director of the Company for the period of 3 Years effective from 1 October, 2014 upto th30 September, 2017.”

    2

    nd32 ANNUAL REPORT

  • “RESOLVED FURTHER THAT approval be and is hereby accorded to the remuneration, benefits, commission payable as per the terms and conditions of the Agreement to be entered into by Mr. Deepak Bansal with the company for the aforesaid appointment including following:

    Salary: At the rate of Rs.1,80,000 /- (Rupees One Lac Eighty Thousand only) per anum

    “RESOLVED FURTHER THAT the board shall have liberty to determine, alter and vary the terms and condition of the said appointment and remuneration payable from time to time as it deems fit in such manner as may be mutually agreed upon within the maximum limit in that behalf laid down in the Schedule V of the Companies Act, 2013 as may be decided by the Board of Directors, subject to necessary sanctions and approval.”

    “RESOLVED FURTHER THAT the Board of director of the Company be and hereby authorized to do all such acts, deeds, things and matter as may be necessary, expedient and desirable to give effect to this resolution.”

    4. To Appoint Mr. Mahesh Parihar (holding DIN : 06782814) as an Independent Director of the Company and in this regard to consider and if thought fit, to pass with or without modification(s), the following resolution as an Ordinary Resolution:

    “RESOLVED THAT Pursuant to the provisions of Section 149,152 and other applicable provisions if any, of the Companies Act, 2013 (Act) time to time and the Rules framed thereunder(including any statutory modification(s) or re-enactment thereof for the time being in force), read with Schedule IV to the Act as amended from time to time, Mr. Mahesh H. Parihar (holding DIN : 06782814), who was appointed as an Additional Director (Independent) of the

    thCompany at the Board meeting held on 17 January, 2014 and who holds the office up to the date of this Annual General Meeting in terms of provision of section 161 of the Act, and in whose respect the Company has received a notice from a member under Section 160 of the Act, together with necessary deposit as mentioned in the said section, proposing the candidature of Mr. Mahesh Parihar for the office of Director of the Company be and is hereby appointed as Independent Director of the Company not liable to retire by rotation, to hold office for a term of 5 (five)

    st consecutive years upto 31 March, 2019.”

    “RESOLVED FURTHER THAT the Board of director of the Company be and hereby authorized to do all such acts, deeds, things and matter as may be necessary, expedient and desirable to give effect to this resolution.”

    5. To Appoint Mr. Ranjit Modi (holding DIN: 00636877) is an Independent Director of the company and in this regard to consider and if thought fit to pass with or without modifications the following resolution as an ordinary resolution :

    “RESOLVED THAT Pursuant to the provisions of Section 149 and 152 read with Schedule IV and all other applicable provisions of the Companies Act, 2013, Companies (Appointment and Qualification of Directors) Rules, 2014 (including any statutory modification(s) or re-enactment thereof for the time being in force) and Clause 49 of the Listing Agreement, Mr. Ranjit Modi (holding DIN: 00636877) as an Independent Director and in respect of whom the Company has received notice under Section 160 of the Companies Act, 2013, from a member proposing his candidature for the office of Director, be and is hereby appointed as an Independent Director of the Company, not liable to retire by rotation, to hold office for a term of 5 (five) consecutive years upto

    st31 March, 2019.”

    3

    ANNUAL REPORT 2013-2014

  • “RESOLVED FURTHER THAT the Board of director of the Company be and hereby authorized to do all such acts, deeds, things and matter as may be necessary, expedient and desirable to give effect to this resolution.”

    August 27, 2014 By order of the Board

    For ARIHANT MULTI COMMERCIAL LIMITED (Formerly known as Lifeline Drugs And Pharma Limited)

    Registered Office:- F/3, C- Wing, Shah Arca