| Disclosure in board of directors report explanatory NOTICE NOTICE is hereby given that the 24th ANNUAL GENERAL MEETING of the Members of HERANBA INDUSTRIES LIMITED will be held at Plot No -1505, G. I. D. C. Phase-III, Vapi, Gujarat-396195 India on Thursday, 29th day of September, 2016 at 02.30 p.m. to transact the following business: ORDINARY BUSINESS: (1) To consider and adopt the Balance Sheet for the year ended 31st March, 2016 and Profit and Loss Account for the financial year ended on that date together with the Directors' Report and Auditors Report thereon. (2) To Declare Dividend. (3) To appoint a director in place of Mr. Raghuram Kanyan Shetty, retiring by rotation being eligible for the re-appointment, offers himself for re-appointment. (4) To appoint a director in place of Mrs. Sujata Sadashiv Shetty, retiring by rotation being eligible for the re-appointment, offers herself for re-appointment. (5) To ratify the appoint of Auditors to hold office from the conclusion of this meeting until the conclusion of next Annual General Meeting and to fix their remuneration. (6) To ratify the remuneration to be paid to the Cost Auditor appointed by the Board of Directors. BY HERANBA INDUSTRIES LTD. S.K. SHETTY Din No.: 00038681 CHAIRMAN Place: Mumbai Date: 03rd September, 2016. NOTE 1. A Member Entitled To Attend And Vote At The Meeting Is Entitled To Appoint A Proxy To Attend And Vote On Poll Only Instead Of Himself, And Proxy So Appointed Need Not Be A Member Of The Company. In Order To Be Effective, Proxy Form Must Be Lodgeed With The Company Not Less Than 48 Hours Before The Meeting DIRECTORS REPORT To the Members, Your Directors have pleasure in submitting their 24th Annual Report of the Company together with the Audited Statements of Accounts for the year ended 31st March, 2016. FINANCIAL RESULTS / STATE OF COMPANY'S AFFAIRS: The summarized standalone results of your Company are given in the table below: Amt. in Rupees Particulars | Financial Year Ended | 31/03/2016 | 31/03/2015 | Revenue from Business Operations | 5,203,908,839 | 5,196,576,078 | Total Income | 5268366546 | 5,273,778,828 | Profit/(loss) before Depreciation and Tax |
| 346,378,461 | Less: Depreciation | 39,658,840 | 53,181,778 | Less: Provision for Income Tax (including for earlier years) | 109,500,000 | 95,500,000 | Less: Provision for Deferred Tax | 13,917,315 | 13,539,047 | Net Profit/(Loss) After Tax | 167,117,870 | 184,157,636 |
DIVIDEND: Your Board of Directors has paid an Interim Dividend of Rs. 21,864,258/- (Rs. Two Crore Eighteen Lakhs Two Hundred and Fifty Eight only) @ Rs 2.80 per Equity share during the reporting year under review and the board doesn't recommend further dividend and therefore the said paid dividend to be treated as final dividend to the Equity share holders. The Board also proposed to pay dividend to preference shareholder of Rs. 301,452/- (Rs. Three Lac One Thousand Four Hundred and Fifty Two only) @ Rs. 12 per Pref. share. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND: The Company does not have any funds as contemplated under Section 125 of the Act lying unpaid or unclaimed for a period of seven years. Therefore there were no funds which were required to be transferred to Investor Education and Protection Fund (IEPF). MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT: No material changes and commitments affecting the financial position of the Company occurred between the end of the financial year to which this financial statements relate and the date of this report. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT, 2013: The company has not given any loans or guarantees covered under the provisions of section 186 of the Companies Act. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES: The particulars of contract or arrangements entered into by the Company with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 are attached herewith in Annexure -I in Form No. AOC -2. All related party transactions that were entered into during the financial year were on arm's length basis and were in the ordinary course of the business. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES: The Company does not have any Subsidiary, Joint venture or Associate Company. CHANGE IN THE NATURE OF BUSINESS: There has been no change in the Nature of Business during the year under review. DEPOSITS: The Company has neither accepted / renewed any deposits from public during the year nor has any outstanding Deposits in terms of Section 73 of the Companies Act, 2013. Further there were no Deposits which are not in compliance of the requirements of Chapter V of the Act. SHARE CAPITAL: As on 31st March, 2016, the issued, subscribed and paid up share capital of your Company stood at Rs. 80,625,160/- (Rs. Eight Crore Six lacs Twenty Five Thousand One Hundred and Sixty only), comprising 7,811,306 (Seventy Eight Lacs Eleven Thousand Three Hundred and Six) Equity shares of Rs.10/- each and 25,121 (Twenty Five Thousand One Hundred and Twenty One) Preference Shares of Rs. 100/- each. During the year, the Company has made private placement of 117,000 (One Lac Seventeen Thousand) Equity Shares of face value of Rs.10/- (Rupees Ten) each for a total nominal value of Rs. 1,170,000/- (Eleven lac Seventy Thousand) to the promoters of the company. INTERNAL FINANCIAL CONTROLS: The internal financial controls with reference to the Financial Statements are commensurate with the size and nature of business of the Company. Further Directors have personally overview the adequacy of internal controls. In addition to Internal Audit, the Company has implemented well established internal financial practices, tool for mitigating non-compliances risk and internal Code of Business Conduct in order to ensure adequate internal financial control commensurate with the size of the Company. NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW: The Board met 11 (Eleven) times during the financial year 2015-16. During the financial year under review, the Company had conducted the following Board meetings on various occasions: Type of Meeting | Total No. of meetings held during the year | Board Meeting | 11 | Audit Committee | Applicable(Not Formed) | Nomination and Remuneration Committee | Applicable( Not Formed) | Class Meeting | Not Applicable |
DIRECTORS AND KEY MANAGERIAL PERSONNEL: There were no changes in Directors and Key Managerial Personnel during the year under review. REMMUNERATION POLICY FOR THE DIRECTORS, KEY MANAGERIAL PERSONNEL AND OTHER EMPLOYEES: In terms of the provisions of Section 178 (3) of the Act the Nomination and Remuneration Committee is responsible for formulating the criteria for determining qualification, positive attributes and independence of a Director. The Nomination and Remuneration Committee is also responsible for recommending to the Board a policy relating to the remuneration of the Directors, Key Managerial Personal and other employees. In line with this requirement, the Board has decided to form Remuneration Committee. DIRECTORS RESPONSIBILITY STATEMENT: In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submits its responsibility Statement (a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; (b) the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that period; (c) The directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; (d) The directors had prepared the annual accounts on a going concern basis; and (e) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively. DECLARATION OF INDEPENDENT DIRECTORS: The Company has not appointed Independent Director during the year and thus no declaration was made by the Independent directors. However the Board is in process to appoint Independent Director. ANNUAL EVALUATION: The Company neither being Listed Company nor Public Company having a Paid up Share Capital of Rs. 25 Crore, therefore provisions related to formal Annual Evaluation of the Board and that of its committees and the Individual Director is not applicable to the Company. DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE AND PROVIDING VIGIL MECHANISM: AUDIT COMMITTEE: The Company is required to form an Audit Committee under Sec 177 of the Companies Act, 2013 and thus the Company is under the process to form an Audit Committee. VIGIL MECHANISM: The Company is required to establish a vigil mechanism that will oversee through the committee, the genuine concerns expressed by the employees and other Directors. The Company is also required to provide adequate safeguards against victimization of employees and Directors who express their concerns. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE COMPANY: The Company does not have any Risk Management Policy as the element of risk threatening the Company's existence is very minimal. DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON CORPORATE SOCIAL RESPONSIBILITY: The Company is covered under the CSR Rules and Regulation of the Companies Act-2013 and therefore the Company needs to make expenditure for CSR activities during the year. Since in the previous year the Board doesn't find the suitable agency for making necessary expenses under CSR and therefore the Board has not made any expenditure under CSR during the financial year 2014-15. However, the Board has made the necessary expenditure under CSR of Rs. 1,750,000/- during the year under review. The Board is also in process to make necessary further expenditure under CSR related to current financial year. SECRETARIAL AUDIT REPORT: In compliance of the provisions of Section 204 of the Companies Act, 2013, your Directors have appointed M/s. K. C. Suthar and Co., Practicing Company Secretary, as Secretarial Auditor of the Company for the financial year under review . Report given by the company secretary in practice is been annexed with the report [MR-3] as ANNEXURE- II. STATUTORY AUDITORS: M/s ANAY GOGTE and CO., Chartered Accountants, was appointed as a Statutory Auditors for a period of five financial years in the Annual General Meeting held on 29/09/2014. Their continuance of appointment and payment of remuneration are to be confirmed and approved in the ensuing Annual General Meeting. The Company has received a certificate from the above Auditors to the effect that if their appointment is ratified, it would be in accordance with the provisions of Section 141 of the Companies Act, 2013. COST AUDITORS: Pursuant to the provision of Section 148 of the Companies Act, 2013 read with Rule 14 of the Companies (Audit and Auditors) Rules, 2014, the cost records in respects of audit of pesticide products manufacture by the company needs to be audited. In compliance to the above, the Board of Directors has appointed Mr. Jayant J. Paleja, Cost Accountants, as the Cost Auditors of the Company for the financial year ended 31st March 2016. In accordance with the above provision the remuneration payable to the cost auditors should be ratified by the members. Accordingly, the Board of Directors recommends the Members to pass the resolution, as stated in item No. 6 of the Notice Convening the ensuing Annual General Meeting. EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS: Auditors qualification: There were no qualifications, reservations or adverse remarks made by the Auditor in his report made for the financial year under review. Secretarial Audit report by Practicing Company Secretary The Practicing Company Secretary has made their reports in FORM MR - 3 which is attached to this report as ANNEXURE - II. Reply of Comments: Regarding the formation of various committees: As explain earlier in this report, the Board is in process to appoint Independent Directors, and therefore the board has not formed any committee. Regarding CSR Policy: During the financial year under review, company has spent a sum of Rs.1,750,000/- as against the CSR expenditure amounting to Rs. 2,118,402/- (for the financial year 2014-15).The company is committed to making expenditure for the CSR as provided under the Companies Act, 2013 and during the previous financial year 2014-15 the Board was unable to find the suitable agency to make such expenditure and therefore the company has made the expenditure in current year 2015-16. Further the company is in process to spend the remaining amount that will suit best in the interest of the remote area where the factory of the company is situated. Regarding the appointment of Independent Directors and Non- Executive Directors: As explained earlier in this report, the board is in process to appoint the Independent directors on its Board at the earliest. DETAILS OF FRAUD REPORTED BY AUDITORS: There were no frauds which are reported to have been committed by employees or officers of the Company. The statutory auditors of the Company have vide their report of even date confirmed that no fraud by the Company and no material fraud on the Company has been noticed or reported during the year DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE: There was no Material order passed by the judicial or quasi Judicial Authority which affects the Going Concern Status of the Company during the year under review. ANNUAL RETURN: The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and administration) Rules, 2014 is furnished in Annexure -III. and is attached to this Report. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO: (A) CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION Power and fuel Consumption- The Companies (Disclosure of Particulars in Report of Board of Directors) Rules 1988 require the disclosure of particulars regarding Conservation of Energy in Form-A and Technology Absorption in Form-B as prescribed by the Rules. | 31.03.2016 | 31.03.2015 | | (1) Electricity | | | | Purchased units | 1,35,05,278 | 1,23,02,707 | | Total Amount (Rs.) | 9,76,43,160 | 9,35,00,573 | | Rate per Unit (Rs.) | 7.23 | 7.60 | | (2) Own Generator | | | | Fuel (Diesel) | 35,32,546 | 30,71,128 | | Total Amount (Rs.) | 11,15,57,822 | 14,01,96,991 | | Rate per Liter (Rs.) | 31.58 | 45.65 | |
TECHNOLOGY ABSORPTION: The technology required for the Company is available indigenously. FOREIGN EXCHANGE EARNINGS and OUTGO: | 31.03.2016 | 31.03.2015 | Earnings | 1,669,464,710 | 1,645,213,660 | Outgo | 462,225,778 | 839,182,895 |
ACKNOWLEDGEMENTS: Your Directors place on record their sincere thanks to bankers, business associates, consultants, and various Government Authorities for their continued support extended to your Companies activities during the year under review. Your Directors deeply appreciate the committed efforts put in by employees at all levels, whose continued commitment anddedication contributed greatly to achieving the goals set by your Company. Your Directors also acknowledges gratefully the shareholders for their support and confidence reposed on your Company. FOR HERANBA INDUSTRIES LIMITED Sadashiv. K . Shetty Raghuram. K. Shetty Managing Director Whole Time Director Din: 00038681 Din: 00038703 Date: 03rd September, 2016 Date: 03rd September, 2016 Place: Mumbai Place: Mumbai Annexure I Form AOC-2 (Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014) Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 including certain arms length transactions under third proviso thereto Details of material contracts or arrangement or transactions at arm's length basis: (a) | Name(s) of the related party and nature of relationship | Mrs. Shreya M. Shetty (Daughter of Director) | (b) | Nature of contracts / arrangements / transactions | Professional Fees | (c) | Duration of the contracts / arrangements/transactions | Yearly | (d) | Salient terms of the contracts or arrangements or transactions including the value, if any | Rs. 17,00,000 | (e) | Date(s) of approval by the Board | 08th April, 2015 | (f) | Amount paid as advances, if any: | NIL |
FOR HERANBA INDUSTRIES LIMITED S. K. Shetty R. K. Shetty Managing Director Whole Time Director Din: 00038681 Din: 00038703 Date: 03rd September, 2016 Date: 03rd September, 2016 Place: Mumbai Place: Mumbai ANNEXURE- II CS. K.C.SUTHAR K.C. SUTHAR and CO. M. Com., LL.B, F. C.S. Company Secretaries FORM NO. MR -3 SECRETARIAL AUDIT REPORT FOR THE FINANCIAL YEAR ENDED 31st March 2016 [Pursuant to section 204(1) of the Companies Act, 2013 and rule No. 9 of the Companies (Appointment and Remuneration Personnel) Rules, 2014] The Members, Heranba Industries Limited. Vapi- Gujrat.2 I have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by M/s Heranba Industries Limited [CIN: U24231GJ1992PLC017315] (hereinafter called the company) having its registered office situated at Plot No 1505 G I D C III Phase, Vapi - 396195 , Gujarat. The Secretarial Audit was conducted in a manner that provided me a reasonable for evaluating the corporate conducts/ statutory compliances and expressing my opinion thereon. Based on my verification of the company's books, papers, minute book, forms and returns filed and other records maintained by company and also the information provided by the company, its officers, agents and authorized representatives during the conduct of secretarial audit, I hereby report that in my opinion, the company has, during the audit period covering the financial year ended on 31st March, 2016, complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance- mechanism in place to the extent, in the manner and subject to the reporting made hereinafter: I have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year ended on 31st March, 2016 according to the provisions of: (i) The Companies Act, 2013 (the Act) and the rules made there under; The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 ('SEBI') are not applicable to the Company as the company is not a listed Company:- K.C. (i) The Securities Contracts (Regulation) Act, 1956 ('SCRA') and the rules made there under are not applicable to the company as the company is not a listed Company; (ii) The Depositories Act, 1996 and the Regulations and Bye-laws framed there under are also not applicable to the Company as the company is not a listed Company; (iii) Foreign Exchange Management Act, 1999 and the rules and regulations made there under to the extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowings; not applicable to the Company as the company has no Foreign Direct Investment and External Commercial Borrowings during the year under review. (iv) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011; is not applicable to the company as the company is not a listed Company; (v) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992; is not applicable to the company as the company is not a listed Company; (vi) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 is not applicable to the company as the company is not a listed Company; (vii) The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999; is not applicable to the company as the company is not a listed Company; (viii) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008; is not applicable to the company as the company is not a listed Company; (ix) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with Client; is not applicable to the company as the company is not a listed Company; (x) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; is not applicable to the company as the company is not a listed Company; and (xi) The Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998; is not applicable to the company as the company is not a listed Company; 1. I have also examined compliance with the applicable clauses of the following: (i) Secretarial Standard issued by The Institute of Company Secretaries of India. During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above. 2. I further report that: (a). The Board of Directors of the Company is duly constituted with proper balance of Managing Director, Whole time Director and Executive Directors. (b). The Company has not appointed any Non- Executive Directors and Independent Directors during the year, however, as explained to me, the board is in process to appoint the Independent directors on its Board at the earliest. (c). There are no changes in the compositions of Board of Directors during the year under review. (d). The company has not formed any committee during the year i.e. Audit Committee, vigil mechanism committee and Nomination and Remuneration Committee as require under the Act. (e). During the financial year under review, company has spent under CSR a sum of Rs.1,750,000/- as against the CSR expenditure amounting to Rs. 2,118,402/- (for the financial year 2014-15).The company is committed to making the pending expenditure for the CSR as provided under the Companies Act, 2013 as during the previous financial year 2014-15 the Board was unable to find the suitable agency to make such expenditure and therefore the company has made the expenditure in current year 2015-16. Further the company is in process to spend the remaining amount that will suit best in the interest of the remote area where the factory of the company is situated. (f). Adequate notice is given to all the Directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance, and a system exists for seeking and obtaining further information and clarification on the agenda items before the meeting and for meaningful participation at the meeting. (g). There are adequate systems and processes in the company commensuratewiththe size and operations of the companyto monitor and ensure compliance with applicable laws, rules, regulations and guidelines. (h). During the audit period the company has made private placement of equity shares in compliance with the Act and rules made there under. (i).The Company has complied other applicable laws as applicable to the extent of the size of the business of the Company. For K C SUTHAR and Co. Practicing Company Secretary [CS K C SUTHAR] FCS: 5191/ CP: 4075 Place: Mumbai Date: 29th August, 2016 14, Supariwala House, 1st floor, 293, Princess Street, Marine Lines, Mumbai-400 002 Tele: 022- 6660 2084/ 022- 2401 6781 * E-mail: sutharkc@gmail.com mso-bidi-font-weight:normal>: Mrs Sujata S Shetty Shareholding at the beginning of the year Cumulative Shareholding during the Year No. of shares % of total shares of the company No. of shares % of total shares of the company 1 At the beginning of the year 634,580 8.25 634,580 8.25 2 Date wise Increase / Decrease in Promoters Share holding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc): Increase Date (08/05/2015) Allotment (Private Placement) 11,500 0.02 11,500 0.02 3 At the end of the year 646,080 8.27 646,080 8.27 Sr. No. IV | Particulars NAME: Mrs. Vanita R Shetty | Shareholding at the beginning of the year | Cumulative Shareholding during the Year | No. of shares | % of total shares of the company | No. of shares | % of total shares of the company | 1 | At the beginning of the year | 403,600 | 5.25 | 403,600 | 5.25 | 2 | At the end of the year | 403,600 | 5.16 | 403,600 | 5.16 |
V) INDEBTEDNESS: Indebtedness of the Company including interest outstanding/accrued but not due for payment- | Secured Loans excluding deposits | Unsecured Loans | Deposits | Total Indebtedness | Indebtedness at the beginning of the financial year | | | | | i) Principal Amount | 873,256,122 | 2,091,411 | - | 875,347,533 | ii) Interest due but not paid | - | - | - | - | iii) Interest accrued but not due | - | - | - | - | Total (i+ii+iii) | 873,256,122 | 2,091,411 | - | 875,347,533 | Change in Indebtedness during the financial year | | | | | i) Addition | 18,415,768 | 10,500,000 | - | 19,50,15,768 | ii) Reduction | 11,34,85,691 | 11,34,85,691 | - | 11,34,85,691 | Net Change | 7,10,30,077 | 10,500,000 | - | 8,15,30,077 | Indebtedness at the end of the financial year | | | | | i) Principal Amount | 944,286,199 | 12,591,411 | - | 956,877,610 | ii) Interest due but not paid | - | - | - | - | iii) Interest accrued but not due | - | - | - | - | Total (i+ii+iii) | 944,286,199 | 12,591,411 | - | 956,877,610 |
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL- A. Remuneration to Managing Director, Whole-time Directors and/or Manager: Sr. No. | Particulars of Remuneration | Name of MD/WTD | Total Amount | Mr. S K Shettty | Mr. R. K. Shetty | Mrs. Sujata S Shetty | Mrs. Vanita R Shetty | 1. | Gross salary | 11,455,000 | 11,092,000 | 1,275,000 | 1,275,000 | 25,097,000 | 2. | Others-(a) Provident Fund | 21,600 | 21,600 | 21,600 | 21,600 | 86,400 | | (b) Insurance Premium | 98,306 | 61,983 | - | - | 160,289 | | Total | 11,574,906 | 11,175,583 | 1,296,600 | 1,296,600 | 25,343,689 | | Ceiling as per the Act | Within limit | Within limit | Within limit | Within limit | Within limit |
B. Remuneration to other directors: * The Company has no other directors i.e. Independent Directors and Other Non- Executive Directors, thus no remuneration was given by the company. C. Remuneration to Key Managerial Personnel Other Than MD / Manager / WTD: * The Company has no Key Managerial Personnel Other Than MD/Manager/WTD, thus no remuneration was paid. VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: * There were no Penalties/ Punishments/ Compounding of Offences initiated against the Company, Directors and Other Officers in Default. For HERANBA INDUSTRIES LIMITED S. K. Shetty R. K. Shetty Managing Director Whole Time Director Din: 00038681 Din: 00038703 Date: 03rd September, 2016 Date: 03rd September, 2016 Place: Mumbai Place: Mumbai |