· board of directors (1) mr. gulshan rai - managing director (2) mr. shiv prashad mittal -...
TRANSCRIPT
Annual Report
of
Creative Intra Limited
FY 2016 - 17
BOARD OF DIRECTORS
(1) Mr. Gulshan Rai - Managing Director (2) Mr. Shiv Prashad Mittal - Non-Executive Director (3) Mrs. Satnam Kaur - Women Director (4) Mr. Lakhwinder Kumar Aggarwal - Independent Director (5) Mr. Krishan Kumar - Independent Director (6) Mr. Timir Sen Gupta - Independent Director
COMPANY SECRETARY
CS. Daljeet Singh
CHIEF FINANCIAL OFFICER
Mr. Girdhari Lal
STATUTORY AUDITORS
M/s R. Tayal & Associates,
Chartered Accountants
SECRETARIAL AUDITOR
M/s Rashmi Sahni & Associates, Practicing Company Secretaries.
REGISTRAR AND TRANSFER
AGENT
Beetal Financial & Computer Services (P) Ltd.
Beetal house, 3rd Floor, 99, Madangir, Near Local Shopping Complex, New
Delhi-110092. Tel.: 011-29961281, 29961284
REGISTERED OFFICE
G.T. Road, Millar Ganj, Ludhiana-
141003, Punjab. E-mail Id: -
[email protected] CIN: - L51909PB1981PLC046333
PAN: - AAACC3583F Contact No.:- 0161-3006100
CONTENTS
Sr. No. Particulars Pg No.
1. Notice of Annual General Meeting 3-11
2. Directors’ Report 12-21
3. MGT - 9 (Extract of Annual Return)
22-35
4. MR-3 Secretarial Audit Report for the Financial Year 2016-17.
36-40
5. Nomination & Remuneration Policy approved by the Board. 41-45
8. Disclosure of particulars with respect to conservation of energy, technology absorption and foreign exchange earnings and outgo
46
9.
Independent Auditors Report on Financial Statement (Standalone)
47-54
10. Standalone Financial Statement & Notes on Accounts thereon 55-69
11. Attendance Slip and Proxy Form 70
CREATIVE INTRA LIMITED
Registered Office: G.T. Road, Millar Ganj, Ludhiana-141003, Punjab.
CIN: L51909PB1981PLC046333
Contact No.:- 0161-3006100
Email ID: [email protected]
NOTICE
NOTICE is hereby given that the 36th Annual General Meeting of the Members of Creative Intra
Limited will be held on 29th September, 2017 at 11:00 A.M. at G.T. Road, Miller Ganj, Ludhiana-
141003, Punjab to transact the following business:
ORDINARY BUSINESS:
ITEM NO.1: Financial and Other Reports
To receive, consider and adopt the Audited Balance Sheet as at 31st March, 2017, Statement of Profit and
Loss for the year ended on that date, together with Report of the Auditor’s and Director’s thereon.
ITEM NO.2: Re – Appointment of Smt. Satnam Kaur.
To appoint a Director in place of Smt. Satnam Kaur (DIN 03349184) who retires by rotation in terms of
Section 152(6) of the Companies Act, 2013 and being eligible, offer herself for re-appointment.
ITEM NO.3: Appointment of Auditors
To appoint Auditors and fix their remuneration and in this regard, to consider and if thought fit, to pass the
following resolution as an Ordinary Resolution:
"Resolved That pursuant to Section 139 of the Companies Act, 2013 and the Companies (Audit and
Auditors) Rules, 2014, M/s N.K. Bector & Co., Chartered Accountants, having (Firm Registration No.
081095N) be and are hereby appointed as the Statutory Auditors of the Company in place of the Auditors
(who have completed his term at upcoming AGM) M/s R. Tayal & Associates, Chartered Accountants,
having (Membership No. 522305), who shall hold office from the conclusion of 36th Annual General
Meeting for term of consecutive three years till conclusion of the 39th Annual General Meeting in the
calendar year 2020 (subject to ratification of the appointment by the members at every Annual General
Meeting held after this Annual General Meeting).
“Resolved Further That the Board be and is hereby authorized to fix such remuneration as may be
determined in consultation with the Auditors, in addition to reimbursement of all out-of-pocket expenses
as may be incurred in connection with the audit of the accounts of the Company."
By Order of the Board
For Creative Intra Limited
Place: Ludhiana
Date: 16.08.2017 Sd/
Gulshan Rai
Managing Director
(DIN: - 01145876)
F-134, Sarojini Nagar,
New Delhi, 110023
Notes:
1. A member entitled to attend and vote at the Meeting is entitled to appoint a proxy to attend and
vote on a poll instead of himself/herself and such proxy need not be a member of the Company. The
proxy, in order to be effective must be received by the Company not less than 48 hours before the
Meeting. The Blank Proxy form is enclosed.
2. In Compliance with Section 108 of the Companies Act, 2013 and Rule 20 of the Companies
(Management and Administration) Amendment Rules 2015, and Regulation 44 of the SEBI (Listed
Obligations And Disclosures Requirements) Regulations 2015, the Company has provided a facility to the
members to exercise their votes electronically through the electronic voting service facility arranged by
Central Depository Services (India) Limited. The facility for voting through ballot paper, will also be made
available at the AGM and the members attending the AGM who have not already cast their votes by
remote e-voting prior to the AGM may attend the AGM but shall not be entitled to cast their votes again.
3. Corporate Members intending to send their authorized representatives to attend the meeting are
requested to send a certified copy of the Board Resolution authorizing their representative to attend and
vote in their behalf at the Meeting.
4. A person can act as a proxy on behalf of members not exceeding fifty and holding in the aggregate not
more than ten percent of the total share capital of the Company carrying voting rights. A member holding
more than ten percent of the total share capital of the Company carrying voting rights may appoint a single
person as proxy and such person shall not act as a proxy for any other person or shareholder.
5. A statement giving the relevant details of the Directors seeking re-appointment under Item No. 2 of the
accompanying Notice is annexed herewith in explanatory statement.
6. Members are requested to intimate their queries, if any, related to accounts at least seven days in
advance of meeting so that information can be made available and furnished at meeting.
7. All documents referred to in the notice, unless otherwise specifically stated will be available for
members for inspection at the registered office of the Company between 10.30 am to 12.30 pm from the
date hereof upto the date of Annual General Meeting.
8. The register of members and share transfer books shall remain closed from Monday the 25th September,
2016 to Friday 29th September, 2017 (Both Days inclusive).
9. Mr. Ashwani Khanna proprietor of Khanna Ashwani & Associates has been appointed as scrutinizer for
providing the report on results of poll/vote for the resolution passed during the AGM.
10. The Securities and Exchange Board of India (SEBI) has mandated the submission of Permanent
Account Number (PAN) by every participant in Securities Market. Members holding shares in physical
form are, therefore, requested to submit their PAN to the Beetal Financial & Computer Services (P) Ltd.
11. The Result of the resolutions passed at the AGM of the Company will be declared within 48 working
hours of Conclusion of AGM. The results declared along with the Scrutinizer Report shall be placed on
Company’s website and will be communicated to the stock exchanges.
12. M/s Khanna Ashwani & Associates, Company Secretaries, have been appointed as the scrutinizer to
scrutinize the e-voting process in fair and transparent manner (including the ballot forms received from
members who do not have access to the e-voting process). The scrutinizer shall within a period of three
working days from the conclusion of e-voting period, unblock the votes in presence of at least two
witnesses not in employment of the company and make a report of the votes cast in favour or against, if
any, forthwith to the chairman of the company.
The instructions for shareholders voting electronically are as under:
(i) The voting period begins on 26th Sep, 2017 (9:00 am) and ends on 28th Sep, 2017 (5:00 pm). During
this period shareholders’ of the Company, holding shares either in physical form or in dematerialized
form, as on the cut-off date (record date) of may cast their vote electronically. The e-voting module
shall be disabled by CDSL for voting thereafter.
(ii) Shareholders who have already voted prior to the meeting date would not be entitled to vote at the
meeting venue.
(iii) The shareholders should log on to the e-voting website www.evotingindia.com.
(iv) Click on “Shareholders” tab.
(v) Now Enter your User ID
a. For CDSL: 16 digits beneficiary ID,
b. Members holding shares in Physical Form should enter Folio Number registered with the Company.
(vi) Next enter the Image Verification as displayed and Click on Login.
(vii) If you are holding shares in demat form and had logged on to www.evotingindia.com and voted on
an earlier voting of any company, then your existing password is to be used.
(viii) If you are a first time user follow the steps given below:
For Members holding shares in Demat Form and Physical Form
PAN Enter your 10 digit alpha-numeric PAN issued by Income Tax Department (Applicable for
both demat shareholders as well as physical shareholders)
Members who have not updated their PAN with the Company/Depository
Participant are requested to use the first two letters of their name and the 8 digits of
the sequence number in the PAN field.
In case the sequence number is less than 8 digits enter the applicable number of 0’s
before the number after the first two characters of the name in CAPITAL letters. Eg.
If your name is 3 Ramesh Kumar with sequence number 1 then enter RA00000001 in
the PAN field
Dividend
Bank
Details
OR Date
of Birth
(DOB)
Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy format) as recorded in
your demat account or in the company records in order to login.
If both the details are not recorded with the depository or company please enter the
member id / folio number in the Dividend Bank details field as mentioned in
instruction (v).
(ix) After entering these details appropriately, click on “SUBMIT” tab.
(x) Members holding shares in physical form will then directly reach the Company selection screen.
However, members holding shares in demat form will now reach ‘Password Creation’ menu wherein
they are required to mandatorily enter their login password in the new password field. Kindly note
that this password is to be also used by the demat holders for voting for resolutions of any other
company on which they are eligible to vote, provided that company opts for e-voting through CDSL
platform. It is strongly recommended not to share your password with any other person and take
utmost care to keep your password confidential.
(xi) For Members holding shares in physical form, the details can be used only for e-voting on the
resolutions contained in this Notice.
(xii) Click on the EVSN No. 170901091 <CREATIVE INTRA LIMITED> for the relevant on which
you choose to vote.
(xiii) On the voting page, you will see “RESOLUTION DESCRIPTION” and against the same the option
“YES/NO” for voting. Select the option YES or NO as desired. The option YES implies that you
assent to the Resolution and option NO implies that you dissent to the Resolution.
(xiv) Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution details.
(xv) After selecting the resolution you have decided to vote on, click on “SUBMIT”. A confirmation box
will be displayed. If you wish to confirm your vote, click on “OK”, else to change your vote, click
on “CANCEL” and accordingly modify your vote.
(xvi) Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify your vote.
(xvii) You can also take a print of the vote cast by clicking on “Click here to print” option on the Voting
page.
(xviii) If a demat account holder has forgotten the login password then Enter the User ID and the image
verification code and click on Forgot Password & enter the details as prompted by the system.
(xix) Shareholders can also cast their vote using CDSL’s mobile app m-Voting available for android based
mobiles. The m-Voting app can be downloaded from Google play store. Apple and windows phone
user can download the app from the App store and windows Phone store respectively. Please follow
the instructions as prompted by the mobiles app while voting on your mobile.
(xx) Note for Non – Individual Shareholders and Custodians
Non-Individual shareholders (i.e. other than Individuals, HUF, NRI etc.) and Custodian are
required to log on to www.evotingindia.com and register themselves as Corporates.
A scanned copy of the Registration Form bearing the stamp and sign of the entity should be emailed
After receiving the login details a Compliance User should be created using the admin login and
password. The Compliance User would be able to link the account(s) for which they wish to vote on.
The list of accounts linked in the login should be mailed to [email protected] and on
approval of the accounts they would be able to cast their vote.
A scanned copy of the Board Resolution and Power of Attorney (POA) which they have issued in
favour of the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to
verify the same.
(xxi) In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked
Questions (“FAQs”) and e-voting manual available at www.evotingindia.com, under help section or
write an email to [email protected].
CREATIVE INTRA LIMITED Registered Office: G.T. Road, Millar Ganj, Ludhiana-141003, Punjab.
CIN: L51909PB1981PLC046333 Contact No.:- 0161-3006100
Email ID: [email protected]
EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013:
ITEM NO. 2 OF THE ORDINARY BUSINESS INFORMATION AND DETAILS REGARDING DIRECTOR SEEKING RE-APPOINTMENT IN THE ENSUING ANNUAL GENERAL MEETING:
Name of the Director
Satnam Kaur
Director Identification Number (DIN) 03349184
Date of Birth 01/03/1971 Nationality Indian
Date of Appointment on Board 04/09/2014 Qualification Post Graduate
No. of Shares Held Nil List of Directorships held in other Companies (excluding foreign, private and Section 8 Companies)
Nil
Memberships / Chairmanships of Audit and Stakeholders’
Relationship Committees across Public Companies Nil
Relationship with other Directors Gulshan Rai (Husband)
None of the other Directors/ Key Managerial Personnel (KMP) of the company/their relatives are concerned or interested, financial or otherwise, in the resolution set out at item No. 2.
By Order of the Board For Creative Intra Limited
Place: Ludhiana Date: 16.08.2017 Sd/ Gulshan Rai
Managing Director (DIN: - 01145876)
F-134, Sarojini Nagar, New Delhi, 110023
CREATIVE INTRA LIMITED Registered Office: G.T. Road, Millar Ganj, Ludhiana-141003, Punjab.
CIN: L51909PB1981PLC046333 Contact No.:- 0161-3006100
Email ID: [email protected]
DIRECTORS’ REPORT
Dear Shareholders,
Your Directors are delighted to present their Report on working of the Company together with the Audited Statement of Accounts of your Company for the Financial Year ended on 31st March, 2017.
FINANCIAL SUMMARY OR PERFORMANCE OF THE COMPANY:
PARTICULARS YEAR ENDED
31.03.2017
YEAR ENDED
31.03.2016
Revenue from operations 19457121.00 25568323.93
Other Income 5203051.00 5599495.00
Total Income 24660172.00 31167818.93
Expenditure for the year excluding Depreciation and Amortization Exp.
10514827.96 26608490.73
Profit or Loss before Depreciation and Amortization Exp.
14145344.04 4559328.20
Less: Depreciation and Amortization Exp. 271298.00 309600.00
Profit/Loss before Exceptional and extraordinary items and tax
13874046.04 4249728.20
Less: Exceptional Items and extraordinary items 0 0
Profit before Taxation 13874046.04 4249728.20
Less : Provision for Taxation
Current Tax
Deferred Tax
Current Tax expenses relating to prior years
3000000.00
(26380.00)
(45584.00)
1105000.00
(43232.01)
-
Profit after Taxation 10946010.04 3187960.21
STATE OF AFFAIRS
The Company is engaged in the business of share trading, Financial Consultancy and it is earning Rent from its Investments in properties. There has been no change in the business of the Company during the financial year ended 31st March, 2017.
The highlights of the Company’s performance are as under:-
(i) Revenue from operations amounting Rs. 1,94,57,121.00/- (ii) Net Profit for the year amounting to Rs. 1,09,46,010.04/-
(iii) Earnings per share is Rs. 1.97/-
MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
A. FINANCIAL ANALYSIS AND STATE OF COMPANY AFFAIRS:
PRODUCTION & SALES REVIEW:
During the year, the Revenue from operations was Rs. 1,94,57,121.00 as against Rs. 2,55,68,323.93 in the previous year. The Company earned other income of Rs. 52,03,051.00 during the year as against Rs. 55,99,495.00 during last year.
PROFITABILITY:
The Company earned profit before depreciation, interest and tax of Rs. 1,41,45,344.04 as against Rs. 45,59,328.20 in the previous year. After providing for depreciation of Rs. 2,71,298.00 (Previous Year Rs. 3,09,600.00), the profit after tax was Rs. 1,38,74,046.04 as against Rs. 42,49,728.20 last year.
B. RESOURCE UTILISATION:
FIXED ASSETS:
The net fixed assets as at 31st March, 2017 were Rs. 57,08,625.00 as against previous year’s fixed assets
of Rs. 59,47,623.00
CURRENT ASSETS:
The net current assets as on 31st March, 2016 were Rs. 21,70,26,414.12 as against Rs.20,42,26,543.08 in the previous year.
FINANCIAL CONDITIONS AND LIQUIDITY:
Management believes that the Company’s liquidity and capital resources are sufficient to meet its expected working capital needs and other anticipated cash requirements. The position of liquidity and capital resources of the Company is given below: -
CASH AND CASH EQUIVALENTS:
(Amt in Rs.) Particulars 2016-17 2015-16
Beginning of the Year
4,46,428.93 18,26,874.46
End of the Year
7,77,200.47 4,46,428.93
Net Cash provided/(used) by:
- Operating Activities
(48,11,919.46) (62,52,587.53)
- Investing Activities
51,42,941.00 48,72,142.00
- Financing Activities
(250.00) -
DIVIDEND
In view of the planned business growth, your Directors deems it proper to preserve the resources of the Company for its activities and therefore, do not propose any dividend for the Financial Year ended March 31, 2017.
SHARE CAPITAL OF THE COMPANY
The Paid up Equity Share Capital as at 31st March, 2017 was Rs. 5,56,12,800/- divided into 55,61,280 Equity Shares, having face value of Rs. 10/- each fully paid up. During the year under review, the Company has not issued any shares.
DECLARATION BY AN INDEPENDENT DIRECTOR(S)
The Company has received Declaration from each Independent Directors that they meets the criteria of independence laid down in sub-section (6) of Section 149 of Companies Act, 2013.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to the provision of sub section (5) of Section 134 of the Companies Act, 2013, your Directors confirm that:
a) In the preparation of the Annual Accounts for the period ended March 31, 2017, the applicable
accounting standard had been followed along with proper explanation relating to material departures;
b) The Directors have 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 of the Company for that period;
c) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and
d) The Directors had prepared the Annual Accounts for the period ended March 31, 2017 on a going
concern basis.
e) The Directors, has laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating efficiently.
f) 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.
DIRECTORS
i). APPOINTMENTS
INDEPENDENT/WOMEN DIRECTOR
At the 33rd Annual General Meeting of the Company held on 30.09.2014, the Members of the Company had designate Sh. Krishan Kumar, Sh. Lakhwinder Kumar Aggarwal and Sh. Timir Sen Gupta as an Independent Directors of the Company, for a period of 5 years. All Independent Directors have given declarations that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013. Mrs. Satnam kaur were appointed as women director as per the provisions of Companies Act, 2013 w.e.f 04.09.2014.
DECLARATION UNDER SECTION 149(6):
All the Independent Directors have submitted their disclosures to the board that they fulfill all the requirements as stipulated in Section 149(6) of the Companies Act, 2013 so as to qualify themselves to be appointed as Independent Directors.
ii). RETIREMENT BY ROTATION
Pursuant to the provisions of Section 152 of the Companies Act, 2013 Smt. Satnam Kaur (holding DIN. 03349184), Director of the Company retires by rotation and being eligible offers himself for re-appointment.
KEY MANAGERIAL PERSONNEL
Pursuant to the provisions of Section 203 of the Companies Act, 2013 the below mentioned KMP’s have
been appointed/designated as detailed below:
WHOLE TIME KEY MANAGERIAL PERSONNEL OF THE COMPNY
DESIGNATION
Mr. Gulshan Rai Managing Director
CS Ritu Mahajan Company Secretary(CS)
Mr. Girdhari Lal Chief Financial Officer(CFO)
BOARD EVALUATION
The board of directors has carried out an annual evaluation of its own performance, Board committees and individual directors pursuant to the provisions of the Act.
The performance of the Board and committees of the Board was evaluated by the Board after seeking inputs from all the directors on the basis of the criteria such as the Board composition and structure, effectiveness of board processes, information and functioning, etc.
The Board and the Nomination and Remuneration Committee (“NRC”) reviewed the performance of the individual directors on the basis of the criteria such as the contribution of the individual director to the Board and committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings, etc. In addition, the Chairman was also evaluated on the key aspects of his role.
None of the independent directors are due for re-appointment.
BOARD MEETINGS
A calendar of Meetings is prepared and circulated in advance to the Directors. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013, Listing Agreement and Securities and Exchange Board of India (Listing Obligations and disclosure Requirements) Regulations, 2015. The Board met Nine times during the year, the details of which are given below:
04.04.2016, 08.04.2016, 27.04.2016, 09.07.2016, 26.08.2016, 11.10.2016, 10.12.2016, 13.01.2017, 20.03.2017.
NOMINATION & REMUNERATION POLICY
The Company has been following well laid down policy for determining qualifications, positive attributes and independence of Director, key managerial personnel for their appointment and remuneration. The above mentioned policy forms part of this Report as Annexure III. We hereby affirm that currently no remuneration is being paid to any of its director on Board / Key Managerial Personnel except Company Secretary of the Company.
RISK MANAGEMENT POLICY AND RISK MANAGEMENT
The Company has business risk management committee pursuant to Section 134(3) (n) of the Companies Act, 2013 and SEBI (LODR) Regulation, 2015.
Since your Company had no business operation except for earning of Rent from investment in property, interest income and sale of Shares & Mutual Fund, therefore, Mr. Shiv Prashad, Director and Promoter of your Company has been authorized by board to look after the risk and challenges and is liable to put in place the mechanism to ensure that these are managed and mitigated with adequate timely actions. At present the element of risk threatening the Company’s existence is very minimal.
WHISTLE BLOWER POLICY (VIGIL MECHANISM)
In terms of Section 177(9) & (10) of the Companies Act, 2013, your Company has an effective Vigil Mechanism Policy in place for enabling every personnel to freely communicate any illegal or ethical conduct, actual or suspected fraud or violation of Company’s Code of Conduct. The disclosures are
reported to the nodal officer in the manner and within time framed as prescribed in the Whistle Blower Policy.
DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013
In order to prevent sexual harassment of women at work place a new act The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 has been notified on 9th December, 2013.
The Company is committed to provide a safe and conducive work environment to its employees during the year under review.
Your Directors further state that during the year under review, there were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
TRANSFER TO RESERVES
No amount was transferred to any special reserves during the financial year ended 31st March, 2017.
TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND
In accordance with the provisions of Section 125(2) of the Companies Act, 2013 company has not having any unpaid dividend or excess share application amount in the book of accounts. As company has not declared any dividend in the previous year, hence no amount is transferred to Investor Education and Protection Fund.
MATERIAL CHANGES AFFECTING THE FINANCIAL POSITION OF THE COMPANY
No material changes and commitments affecting the financial position of the Company occurred between the end of the financial year to which this financial statement relates and the date of this report.
PUBLIC DEPOSIT
The Company has not accepted any Deposit within the meaning of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.
DETAILS OF SUBSIDIARY/JOINT VENTURE/ASSOCIATE COMPANY
There is no subsidiary or joint venture or associate companies.
PARTICULARS OF EMPLOYEES
During the financial year 2016-17, no director or employee, whether employed for the whole year or any part of the year, was in receipt of remuneration or was in receipt of remuneration exceeding the limit
specified under Section 197 of the Companies Act, 2013 read with rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014.
Therefore, the Company has not made disclosure as required under Rule 5 of Companies (Appointment and Remuneration of Managerial Personnel) Rule, 2014.
CORPORATE GOVERNANCE REPORT
Clause 49 of listing agreement which outlines the corporate governance report is not applicable to our company, as our company’s paid up capital is less than 10 crores and net worth is less than 25 crores for F.Y 2016 – 17.
STATUTORY AUDITORS AND THEIR REPORT
M/s. R. Tayal & Associates, Chartered Accountants, New Delhi, was appointed as the Statutory Auditor of the Company for a period of 3 consecutive years to hold office from the conclusion of Annual General Meeting (AGM) held in the financial year 2014-15 till the conclusion of AGM to be held for the financial year 2016-17 subject to ratification at every AGM.
They have confirmed their eligibility under Section 141 of Companies Act 2013 and that are not disqualified for appointment and being eligible offer themselves for re-appointment. Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the Rules framed there under, the Board recommends the appointment of M/s N.K. Bector & Co., Chartered Accountants, having (Firm Registration No. 081095N) in place of M/s. R. Tayal & Associates, Chartered Accountants, as the statutory auditors of the Company for the Financial Year 2017-18. The Auditors’ Report does not contain any qualification. Notes to Accounts and Auditors remarks in their
report are self-explanatory and do not call for any further comments.
SECRETARIAL AUDITOR AND THEIR REPORT
In terms of Section 204 of the Act and Rules made there under, M/s. Rashmi Sahni & Associates, Practicing Company Secretary have been appointed Secretarial Auditors of the Company. The report of the Secretarial Auditors is annexed as Annexure II to this report. The report is self-explanatory and do not call for any further comments.
INTERNAL FINANCIAL CONTROL WITH REFERENCE TO FINANCIAL STATEMENTS
The Company has engaged the services of Mr. Jai Kishan Gupta, as Internal Auditor of the Company for the financial year 2016-17 to carry out the internal audit and ensure that recording and reporting are adequate and proper, the internal controls exist in the system and that sufficient measures are taken to update the internal control system. During the year, such controls were tested and no reportable material weakness in the design or operation was observed.
The Board has adopted the policies and procedures for ensuring the orderly and efficient conduct of its business, including adherence to the Company’s policies, the safeguarding of its assets, the prevention and
detection of fraud and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial disclosure.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS U/S 186 OF THE COMPANIES ACT, 2013
The Company has complied with the provisions of Section 186 of the Companies Act, 2013 while giving loans. However, since the main business activity of company is share trading therefore, on acquisitions of shares of other body corporate the provisions with respect to acquisition of shares are not applicable pursuant to Section 186 (11) (b) of the Companies Act, 2013.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTY TRANSACTIONS
During the year under consideration, the Company has not entered into any contract or arrangements with related parties referred to in sub-section (1) of Section 188 of the Companies Act, 2013.
SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS
No significant or material orders were passed by the Regulators or Courts or Tribunals which impact the going concern status and Company’s operations in future.
EXTRACT OF ANNUAL RETURN
As required pursuant to Section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014. The extract of Annual Return, in Form MGT -9, for the Financial Year 2016-17 has been annexed as Annexure I to this report.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
The provisions of Section 135 of the Companies Act, 2013 read with the Rules made thereunder, in respect of Corporate Social Responsibility Policy were not applicable to the Company for the Financial Year 2016-17.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO: Energy conservation continues to be an area of major emphasis in our Company. Efforts are made to optimize the energy cost while carrying out the manufacturing operations. Particulars with respect to conservation of energy and other areas as per Section 134(3)(m) of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014, are annexed hereto and form part of this report as Annexure IV and is attached to this report. BOARD COMMITTEES
A. AUDIT & RISK MANAGEMENT COMMITTEE.
The Audit and Risk Management committee of the Board of Directors was constituted on 18.06.2014 in conformity of provisions of the Companies Act, 2013. The committee comprises of three Independent
directors i.e. Sh. Krishan Kumar, Sh. Shiv Prashad Mittal and Sh. Timir Sen Gupta. Sh. Krishan Kumar is the Chairperson of the said committee. The Committee met Four (4) times during the year.
B. NOMINATION AND REMUNERATION COMMITTEE
The Nomination & Remuneration Committee was constituted by the Board on 18.06.2014, consisting of majority of Non Executive Independent directors i.e. Sh. Timir Sen Gupta, Sh. Krishan Kumar and Sh. Gulshan Rai. Sh. Timir Sen Gupta is the Chairperson of said Committee. The Committee met two times during the year under review. C. STAKEHOLDER’S RELATIONSHIP CPMMITTEE The Nomination & Remuneration Committee was constituted by the Board on 18.06.2014, consisting of two Non Executive Independent directors i.e. Sh. Krishan Kumar and Sh. Timir Sen Gupta. Sh. Krishan Kumar is the Chairperson of said Committee. POLICIES
A).VIGIL MECGHANISM AND WHISTLE BLOWER POLICY
Pursuant to provisions of Section 177 (9) of the Companies Act, 2013, the Company has established a “Vigil Mechanism” incorporating Whistle Blower Policy in terms of the Listing Agreement for employees
and directors of the Company, for expressing the genuine concerns of unethical behavior, frauds or violation of the codes of conduct by way of direct access to the Chairman/Chairman of the Audit Committee in exceptional cases. The Company has also provided adequate safeguards against victimization of employees and Directors who express their concerns.
B). REMUNERATION POLICY
The Nomination & Remuneration Committee of the Company has formulated the Nomination & Remuneration policy on Director’s appointment and remuneration includes the criteria for determining
qualifications, positive attributes, independence of a director and other matters as provided under Section 178(3) of the Companies Act, 2013. The Nomination & Remuneration Policy is annexed thereto and form part of this Report.
C). RISK MANAGEMENT POLICY
The Audit & Risk Management Committee has formulated Risk Management Policy of the Company which has been subsequently approved by the Board of Directors of the Company. The aim of risk management policy is to maximize opportunities in all activities and to minimize adversity. The policy includes identifying types of risks and its assessment, risk handling and monitoring and reporting, which in the opinion of the Board may threaten the existence of the Company.
D). RELATED PARTY TRANSACTION POLICY
Related Party Transaction Policy, as formulated by the Company defines the materiality of related party transactions and lays down the procedures of dealing with Related Party Transactions that may have potential conflict with the interest of the Company at large. Transactions entered with related parties as defined under the Companies Act, 2013 during the Financial Year 2016-17 were mainly in the Ordinary
Course of business and on an arm's length basis. Prior approval of the Audit and Risk Management Committee is obtained by the Company before entering into any Related Party Transaction as per the applicable provisions of the Companies Act 2013 SHARES A). BUY BACK OF SECURITIES The Company has not bought back any of its securities during the year under review. B). SWEAT EQUITY The Company has not issued any Sweat Equity Shares during the year under review. C). BONUS SHARES No Bonus Shares were issued during the year under review. D).EMPLOYEES STOCK OPTION PLAN The Company has not provided any Stock Option Scheme. ACKNOWLEDGEMENT
Your Directors would like to express their sincere appreciation for the assistance and co-operation received from the financial institutions, banks, Government authorities, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services by the Company’s executives, staff and workers. The Directors also express their gratitude to the Shareholders for the confidence reposed in the Management of the Company.
For and on behalf of the Board
Creative Intra Limited
Place: Ludhiana. Sd/ sd/
Date: 16.08.2017 Gulshan Rai Shiv Prashad
(Managing Director) (Director)
DIN: 01145876 DIN: 01091474
Address: F-134, Sarojini Nagar, Address: 154/1, Maharani
New Delhi-110023 Jhansi Road, Civil Lines,
Ludhiana-141001
ANNEXURE I to Director’s Report
Form MGT-9
(Pursuant to Section 92(3) of the Companies Act, 2013 and rule 12 (1) of Companies
(Management & Administrations) Rules, 2014)
EXTRACT OF ANNUAL RETURN
As on the financial year ended 31st March, 2017
I. REGISTRATION & OTHER DETAILS:
1. CIN L51909PB1981PLC046333
2. Registration Date 11.06.1981
3. Name of the Company CREATIVE INTRA LIMITED
4. Category/Sub-category of the
Company
Company limited by Shares/ Non-Government
Company
5. Address of the Registered office &
contact details
GT Road, Miller Ganj, Ludhiana Ludhiana PB
141003 IN
6. Whether listed company Yes
7. Name, Address & contact details of
the Registrar & Transfer Agent, if
any.
Beetal Financial & Computer Services (P) Ltd.
Beetal house,3rd Floor, 99, Madangir, Near
Local Shopping Complex, New Delhi-110092.
Tel.: 011-29961281, 29961284
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY (All the business activities contributing 10 %
or more of the total turnover of the company shall be stated)
S. No. Name and Description of main
products / services
NIC Code of the
Product/service
% to total turnover of the
company
1. Other retail trading 47990 89.94
III. PARTICULARS OF HOLDING, SUBSIDIARY OR ASSOCIATE COMPANY (All the business activities
contributing 10 % or more of the total turnover of the company shall be stated)
SL
No.
Names & address of
the Company
CIN/GLN
Holding/ Subsidiary/
Associate
% of shares
held
Applicable
Section
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
Category-wise Share Holding
Category of
Shareholders
No. of Shares held at the beginning
of the year[As on 01-April-2016]
No. of Shares held at the end of the
year[As on 31-March-2017]
%
Chang
e
during
the
year
De
ma
t
Physical Total % of
Total
Share
s
De
ma
t
Physical Total % of
Total
Shares
A. Promoters
(1) Indian
a) Individual/
HUF 0 2341582 2341582 42.10 0 2341582 2341582 42.10 0.00
b) Central
Govt. 0 0 0 0.00 0 0 0 0.00 0.00
c) State
Govt.(s) 0 0 0 0.00 0 0 0 0.00 0.00
d) Bodies
Corp. 0 1697751 1697751 30.52 0 1697751 1697751 30.52 0.00
e) Banks / FI 0 0 0 0.00 0 0 0 0.00 0.00
f) Any other 0 0 0 0.00 0 0 0 0.00 0.00
Total
shareholding
of Promoter 0 4039333 4039333 72.63 0 4039333 4039333 72.63 0.00
N. A.
(A)
B. Public
Shareholdin
g
1. Institutions
a) Mutual
Funds 0 0 0 0.00 0 0 0 0.00 0.00
b) Banks / FI 0 0 0 0.00 0 0 0 0.00 0.00
c) Central
Govt 0 0 0 0.00 0 0 0 0.00 0.00
d) State
Govt(s) 0 0 0 0.00 0 0 0 0.00 0.00
e) Venture
Capital Funds 0 0 0 0.00 0 0 0 0.00 0.00
f) Insurance
Companies 0 0 0 0.00 0 0 0 0.00 0.00
g) FIIs 0 0 0 0.00 0 0 0 0.00 0.00
h) Foreign
Venture
Capital Funds 0 0 0 0.00 0 0 0 0.00 0.00
i) Others
(specify) 0 0 0 0.00 0 0 0 0.00 0.00
Sub-total
(B)(1):- 0 0 0 0.00 0 0 0 0.00 0.00
2. Non-
Institutions
a) Bodies
Corp.
i) Indian 0 1138052 1138052 20.46 0 1138052 1138052 20.46 0.00
ii) overseas 0 0 0 0.00 0 0 0 0.00 0.00
b) Individuals
i) Individual
shareholders
holding
nominal share
capital up to
Rs. 1 lakh 0 101493 101493 1.82 0 101493 101493 1.82 0.00
ii) Individual
shareholders
holding
nominal share
capital in
excess of Rs 1
lakh 0 282402 282402 5.07 0 282402 282402 5.07
0.00
c) Others
(specify)
Non Resident
Indians 0 0 0 0.00 0 0 0 0.00 0.00
Overseas
Corporate
Bodies 0 0 0 0.00 0 0 0 0.00 0.00
Foreign
Nationals 0 0 0 0.00 0 0 0 0.00 0.00
Clearing
Members 0 0 0 0.00 0 0 0 0.00 0.00
Trusts 0 0 0 0.00 0 0 0 0.00 0.00
Foreign
Bodies - D R 0 0 0 0.00 0 0 0 0.00 0.00
Sub-total
(B)(2):- 0 1521947 1521947 27.36 0 1521947 1521947 27.36 0.00
Total Public
Shareholding
(B)=(B)(1)+
(B)(2) 0 1521947 1521947 27.36 0 1521947 1521947 27.36 0.00
C. Shares
held by
Custodian
for GDRs &
ADRs 0 0 0 0.00 0 0 0 0.00 0.00
Grand Total
(A+B+C) 0 5561280 55612800 100.0 - 5561280 55612800 100.0 Nil
i) Shareholding of Promoter-
SN Shareholder’s
Name
Shareholding at the beginning
of the year
Shareholding at the end of the
year
%
change
in
shareh
olding
during
the
year
No. of
Shares
% of
total
Shares
of the
compan
y
%of
Shares
Pledge
d /
encum
bered
to
total
shares
No. of
Shares
% of total
Shares of
the
company
%of
Shares
Pledged
/
encumbe
red to
total
shares
1 Alka Mittal 84586 1.52 - 84586 1.52 - 0.00
2 Mahesh Mittal 100 0.00 - 100 0.00 - 0.00
3 Gulshan Rai 13582 0.24 - 13582 0.24 - 0.00
4 Raj Rani Mittal 222846 4.00 - 222846 4.00 - 0.00
5 Rajiv Mittla 100 0.00 - 100 0.00 - 0.00
6
Shiv Parshad
Mittal 1622620 29.18 - 1622620 29.18 - 0.00
7
Shiv Parshad
Rajeev Kumar 5000 0.09 - 5000 0.09 - 0.00
8
Shiv Parshad
Aggarwal &
sons (HUF) 6000 0.11 - 6000 0.11 - 0.00
9 Sohan Lal
100 0.00 - 100 0.00 - 0.00
Mittal
10 Uma Mittal 111527 2.01 - 111527 2.01 - 0.00
11 Vinayak Mittal 275121 4.95 - 275121 4.95 - 0.00
12
Aarti Steels
Ltd. 1697751 30.52 - 1697751 30.52 - 0.00
Total 4039333 72.63 - 4039333 72.63 - 0.00
ii) Change in Promoters’ Shareholding (please specify, if there is no change)
SN
Particulars
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. Shiv Parshad Mittal
At the beginning of the year 1622620 29.18 1622620 29.18
Change in Shareholding Nil Nil Nil Nil
At the end of the year 1622620 29.18 1622620 29.18
2. Gulshan Rai
At the beginning of the year 13582 0.24 13582 0.24
Change in Shareholding Nil Nil Nil Nil
At the end of the year 13582 0.24 13582 0.24
3. Aarti Steels Limited
At the beginning of the year 1697751 30.52 1697751 30.52
Change in Shareholding Nil Nil Nil Nil
At the end of the year 1697751 30.52 1697751 30.52
There is no change in Promoters’ shareholding between 01.04.2016 to 31.03.2017
iii) Shareholding Pattern of top ten Shareholders: (Other than Directors, Promoters and
Holders of GDRs and ADRs):
SN For Each of the Top 10 Shareholders 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
compan
y
1. Gala Finance & Investment Limited
At the beginning of the year 1068540 19.21 1068540 19.21
Date wise increase/decrease during the
year
- - - -
At the end of the year 1068540 19.21
2. O.P. Bhatia
At the beginning of the year 65905 1.19 65905 1.19
Date wise increase/decrease during the
year
- - - -
At the end of the year 65905 1.19
3. Ragini Gupta
At the beginning of the year 46153 0.83 46153 0.83
Date wise increase/decrease during the
year
- - - -
At the end of the year 46153 0.83
4. Jyoti Gupta
At the beginning of the year 46153 0.83 46153 0.83
Date wise increase/decrease during the
year
- - - -
At the end of the year 46153 0.83
5. A.K. Singhal
At the beginning of the year 46153 0.83 46153 0.83
Date wise increase/decrease during the
year
- - - -
At the end of the year 46153 0.83
6. Anuj Agarwal
At the beginning of the year 41100 0.74 41100 0.74
Date wise increase/decrease during the
year
- - - -
At the end of the year 41100 0.74
7. Diamond Commercial
At the beginning of the year 23000 0.41 23000 0.41
Date wise increase/decrease during the
year
- - - -
At the end of the year 23000 0.41
8. Kamlesh Garg
At the beginning of the year 13938 0.25 13938 0.25
Date wise increase/decrease during the
year
- - - -
At the end of the year 13938 0.25
9. Genlite Traders & Finance Limited
At the beginning of the year 9997 0.18 9997 0.18
Date wise increase/decrease during the
year
- - - -
At the end of the year 9997 0.18
10 Mini Commercial Co. Ltd.
At the beginning of the year 9959 0.18 9959 0.18
Date wise increase/decrease during the
year
- - - -
At the end of the year 9959 0.18
iv) Shareholding of Directors and Key Managerial Personnel:
S
N
Shareholding of each Directors and
each Key Managerial Personnel
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. Timir Sengupta
At the beginning of the year 0 0 0 0
Date wise increase/decrease during 0 0 0 0
the year
At the end of the year 0 0 0 0
2. Gulshan Rai
At the beginning of the year 13582 0.24 13582 0.24
Date wise increase/decrease during
the year
0 0 0 0
At the end of the year 13582 0.24 13582 0.24
3. Shiv Parshad Mittal
At the beginning of the year 1622620 29.18 1622620 29.18
Date wise increase/decrease during
the year
0 0 0 0
At the end of the year 1622620 29.18 1622620 29.18
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
ii) Interest due but not paid
iii) Interest accrued but not due
Total (i+ii+iii)
Change in Indebtedness during the
financial year
* Addition
* Reduction
Net Change
Nil
Indebtedness at the end of the
financial year
i) Principal Amount
ii) Interest due but not paid
iii) Interest accrued but not due
Total (i+ii+iii)
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL-
A. Remuneration to Managing Director, Whole-time Directors and/or Manager:
SN. Particulars of Remuneration Name of MD/WTD/ Manager Total Amount
----- ---- ---- ---
1 Gross salary
(a) Salary as per provisions
contained in section 17(1) of the
Income-tax Act, 1961
(b) Value of perquisites u/s 17(2)
Income-tax Act, 1961
(c) Profits in lieu of salary under
section 17(3) Income- tax Act,
1961
2 Stock Option
3 Sweat Equity
4 Commission
- as % of profit
- others, specify…
5 Others, please specify
Total (A)
Ceiling as per the Act
B. Remuneration to other directors
SN. Particulars of Name of Directors Total Amount
N. A.
Remuneration
………………. …………….
1 Independent Directors
Fee for attending board
committee meetings
Commission
Others, please specify
Total (1)
2 Other Non-Executive
Directors
Fee for attending board
committee meetings
Commission
Others, please specify
Total (2)
Total (B)=(1+2)
Total Managerial
Remuneration
Overall Ceiling as per the
Act
C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD
SN Particulars of Remuneration Key Managerial Personnel
CEO CS CFO Total
1 Gross salary
(a) Salary as per provisions contained
in section 17(1) of the Income-tax Act,
1961
0.00 1,50,000.00 0.00 0.00
(b) Value of perquisites u/s 17(2) 0.00 0.00 0.00 0.00
N.A.
Income-tax Act, 1961
(c) Profits in lieu of salary under
section 17(3) Income-tax Act, 1961
0.00 0.00 0.00 0.00
2 Stock Option 0.00 0.00 0.00 0.00
3 Sweat Equity 0.00 0.00 0.00 0.00
4 Commission
- as % of profit 0.00 0.00 0.00 0.00
others, specify… 0.00 0.00 0.00 0.00
5 Others, please specify
Total 0.00 1,50,000.00 0.00 0.00
VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:
Type Section of the
Companies
Act
Brief
Description
Details of
Penalty /
Punishment/
Compounding
fees imposed
Authority
[RD /
NCLT/
COURT]
Appeal
made,
if any
(give
Details)
A. COMPANY
Penalty None
Punishment None
Compounding None
B. DIRECTORS
Penalty None
Punishment None
Compounding None
C. OTHER OFFICERS IN DEFAULT
Penalty
Punishment None
Compounding None
For and on behalf of the Board
Creative Intra Limited
Place: Ludhiana. Sd/ sd/
Date: 16.08.2017 Gulshan Rai Shiv Prashad
(Managing Director) (Director)
DIN: 01145876 DIN: 01091474
Address: F-134, Sarojini Nagar, Address: 154/1, Maharani
New Delhi-110023 Jhansi Road, Civil Lines,
Ludhiana-141001
Annexure-II to Director’s Report
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 31.03.2017
[Pursuant to Section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014]
To,
The Members,
M/s. Creative Intra Limited
GT Road, Miller Ganj, Ludhiana,
Punjab-141003, India.
I was appointed by the Board of Directors of M/s. Creative Intra Limited (hereinafter called the Company) in
the Board Meeting held on 26.08.2016 to conduct Secretarial Audit on Compulsory basis for the financial
year of the Company ended on 31st March, 2017.
I conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to
good corporate practices by M/s. Creative Intra Limited (hereinafter called the Company). Secretarial Audit
was conducted in a manner that provided me a reasonable basis for evaluating the corporate
conducts/statutory compliances and expressing my opinion thereon.
Management’s Responsibility for Secretarial Compliances
The Company’s Management is responsible for preparation and maintenance of Secretarial records and for
devising proper system to ensure compliance with the provisions of applicable laws and regulations.
Auditor’s Responsibility
My responsibility is to express an opinion on the Secretarial records, Standards, Procedures followed by the
Company with respect to Secretarial Compliances.
I believe that audit evidence and information obtained from the Company’s management is adequate and
appropriate for me to provide a basis for my opinion.
Opinion
Based on my verification of the Company’s books, papers, minute books, forms and returns filed and other
records maintained by the 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 31.03.2017, 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 examined the books, papers, minute books, forms and returns filed and other records maintained by the
Company for the financial year ended on 31.03.2017, and according to the provisions of:
(i) The Companies Act, 2013 (the Act) and the rules made thereunder;
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder;
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
(iv) Foreign Exchange Management Act, 1999 and rules and regulations made thereunder to the extent of
Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowings; (not
applicable since there is no action/ event in pursuance of said regulation)
(v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of
India Act, 1992 (‘SEBI Act’):-
(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and
Takeovers) Regulations, 2011;
(b) Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure
Requirements) Regulations, 2009; (Not Applicable as the Company has not issued any further share
capital during the period under review);
(d) Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014; (not
applicable since there is no action/ event in pursuance of said regulation)
(e) The Securities and Exchange Board of India (issue and listing of Debt Securities Regulations,
2008); (Not Applicable as the Company has not issued and listed any debt securities during the
financial year under review)
(f) The Securities and Exchange Board of India (Registrars to an issue and Share Transfer Agent)
Regulations, 1993 regarding the Companies Act and dealing with client (Not Applicable as the
Company is not registered as Registrar to issue and Share Transfer Agent during the financial year
under review);
(g) The Securities and Exchange Board of India (Delisting of Equity Share) Regulations, 2009;
(applicable as the Company has filed an application with Delhi Stock Exchange and Calcutta Stock
Exchange for Delisting of Equity Shares in pursuance of the said regulations, which was approved in
the Board meeting conducted on 27.04.2016 ).
(h) The Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998; (Not
applicable as the Company has not bought back/proposed to buy-back any of its securities during
the financial year under review);
(i) The Securities and Exchange Board of India (Listing Obligations and disclosure requirements)
Regulations, 2015.
The Company has identified the following law(s) specifically applicable to the Company and/or followed
by the Company:
(i) Reserve Bank of India Act, 1934
I have also examined compliance with the applicable clauses of the following:
(i) The Listing Agreements entered into by the Company with Calcutta Stock Exchange;
(Company’s trading is suspended on Calcutta Stock Exchange)
(ii) Secretarial Standards with regard to Meeting of Board of Directors (SS-1) and General
Meetings (SS-2) 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 subject to the following observations:
In Compliance Regulation 31(2) of The Securities and Exchange Board of India (Listing
Obligations and disclosure requirements) Regulations, 2015 and SEBI circular
CIR/CFD/CMD/13/2015 dated November 30, 2015, the company has not maintained shares of
the promoters in Dematerialized format and further according to said circular, at least 50% of
non-promoter holding were to be held in dematerialized form. The company submits that it
cannot do online trading of shares since CSE does not provide facility for online trading of
shares itself so therefore company has not maintained shares in demat.
As per SEBI Regulation 44(1) and section 110 of Companies Act, 2013, it was mandatory for
listed entities to provide e-voting facility for all by shareholders meetings but company has not
provided e-voting facility for Annual General Meeting for the year ended March 31, 2016. The
company submits that since the company was in process of delisting of its shares, so it could not
provide delisting facility for said AGM however, after that company has provided the said
facility.
In compliance to SEBI Regulation 47, newspaper advertisements were not published and
therefore cannot be submitted to stock exchange for prescribed items within prescribed time.
The Company’s shares are listed at Calcutta Stock Exchange but its trading is suspended since
few years back due to non-compliance. Although the listing fees including interest and penalty
have been paid to Calcutta Stock Exchange by the Company for the period under review.
Further, intimations/ compliances have been already provided to Calcutta Stock Exchange as
required under various clauses of Listing Agreement and as per the SEBI (LODR), 2015, by the
Company in order to enable the Calcutta Stock Exchange to revoke the suspension (The said
revocation is in-process at the Calcutta Stock Exchange) .
In compliance to Regulation 10 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 which requires that all the listed entities shall file the reports, statements,
documents, filings and any other information with the recognized stock exchange(s) on the
electronic platform as specified by the Board or the recognized stock exchange(s), but Calcutta
Stock Exchange do not provide any such facility or has not issued any circular in this regard.
I further report that
1. The Board of Directors of the Company is duly constituted with proper balance of Executive
Directors, Non-Executive Directors and Independent Directors. The changes in the
composition of the Board of Directors that took place during the period under review were
carried out in compliance with the provisions of the Act.
2. Adequate notice is given to all 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 clarifications on the agenda items before the meeting
and for meaningful participation at the meeting.
3. Majority decision is carried through while the dissenting members’ views are captured
and recorded as part of the minutes.
4. The Company has proper Board processes.
I further report that there are adequate systems and processes in the Company commensurate with the size
and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations
and guidelines.
I further report that during the financial year under review, there were following specific events/actions
having any major bearing on the Company’s affairs in pursuance of the above-referred law, rules, regulations,
guidelines, standards, etc.,:-
1. The Board of Directors at their meeting held on 27th April, 2017 has approved to apply for de-listing of its
securities listed on the Calcutta Stock Exchange subject to further discussions and approvals of
Shareholders in their respective Meeting, Which was later on approved by Shareholders in the Extra-
ordinary General Meeting conducted on 07th June, 2016. The said application of De-listing is under process
and consideration at Calcutta Stock Exchange.
2. The Board of Directors has approved shifting of Registered Office from its existing address: W-106, Greater
Kailash, Part-II, Nehru Place-110049 to GT Road, Miller Ganj, Ludhiana, Punjab-141003, India, in
Board Meeting conducted on 10th December, 2016, which was later on approved by Shareholders in their
Extra-ordinary General Meeting held on 18th January, 2017.
Date: 15.05.2017
Place: New Delhi sd/
Rashmi Sahni
Practising Company Secretary
Membership No: 25681
Certificate Practice No. 10493
ANNEXURE TO SECRETARIAL AUDIT REPORT
To,
The Members,
M/s. Creative Intra Limited
GT Road, Miller Ganj, Ludhiana,
Punjab-141003, India
Our Secretarial Audit Report of even date is to be read along with this letter:
Management’s Responsibility:
a. Maintenance of Secretarial record is the responsibility of the management of the Company. Our
responsibility is to express an opinion on these secretarial records based on our audit.
Auditor’s Responsibility:
b. We have followed the audit practices and processes as were appropriate to obtain reasonable
assurance about the correctness of the contents of the secretarial records. The verification was
done on the test basis to ensure that correct facts are reflected in secretarial records. We believe
that the processes and practices, we followed provide a reasonable basis for our opinion.
c. We have not verified the correctness and appropriateness of financial records and Books of
Accounts of the Company.
d. Where ever required, we have obtained the Management Representation about the compliance of
laws, rules and regulations and happening of events etc.
e. The Compliance of the provisions of corporate and other applicable laws, and regulations,
standards is the applicability of management. Our examination was limited to the verification of
procedures on test basis.
Disclaimer:
f. The Secretarial Audit Report is neither an assurance as to the future viability of the Company nor
of the efficacy or effectiveness with which the management has conducted the affairs of the
Company.
Date: 15.05.2017
Place: New Delhi
Sd/
Rashmi Sahni
Practising Company Secretary
Membership No: 25681
Certificate Practice No. 10493
Annexure-III to Director’s Report
NOMINATION AND REMUNERATION COMMITTEE POLICY
1. INTRODUCTION
The Company considers human resources as its invaluable assets. This policy on nomination and
remuneration of Directors, Key Managerial Personnel (KMPs) has been formulated in terms of
the provisions of the Companies Act, 2013 in order to pay equitable remuneration to the
Directors and KMPs and to harmonize the aspirations of human resources consistent with the
goals of the Company.
2. DEFINITIONS
‘Board’ means Board of Directors of the Company.
‘Directors’ means Directors of the Company.
‘Committee’ means Nomination and Remuneration Committee of the Company as constituted or
reconstituted by the Board.
‘Company’ means Creative Intra Limited
‘Independent Director’ means a Director referred to in Section 149(6) of the Companies Act,
2013 and rules.
‘Key Managerial Personnel (KMP)’ means-
i) The Managing Director or the Chief Executive Officer or the Manager and in their absence, a
Whole-time Director;
ii) The Company Secretary; and
iii) The Chief Financial Officer
Unless the context otherwise requires, words and expressions used in this policy and not defined
herein but defined in the Companies Act, 2013 as may be amended from time to time shall have
the meaning respectively assigned to them therein.
3. CONSTITUTION OF THE NOMINATION AND REMUNERATION COMMITTEE
The Board has the power to constitute / reconstitute the Committee from time to time in order
to make it consistent with applicable statutory requirements. At present, the Nomination and
Remuneration Committee of the Company comprises of the following members:
a) Mr. Timir Sengupta, Chairman, Independent Director
b) Mr. Krishan Kumar, Independent Director
c) Mr. Lakhwinder Kumar Aggarwal, Independent Director
The terms of the Committee shall be continued unless terminated by the Board of Directors.
4. OBJECTIVE AND PURPOSE OF THE POLICY
The objectives and purpose of this policy are:
To formulate the criteria for determining qualifications, competencies, positive attributes
and independence for appointment of a Director (Executive and Non-Executive) and
recommend to the Board policies relating to the remuneration of the Directors and Key
Managerial Personnel;
To evaluate the performance of the Members of the Board and provide necessary report to
the Board for further evaluation;
To devise a policy on Board diversity;
5. MEETINGS
The meeting of the Committee shall be held at regular intervals as deemed fit and
appropriate.
The Company Secretary of the Company shall act as the Secretary of the Committee.
The Nomination and Remuneration Committee shall set up a mechanism to carry out its
functions, as deemed necessary for proper and expeditious execution.
The Chairman of the Committee or in his absence any other member of the Committee
authorized by him on his behalf shall attend general meetings of the Company.
6. APPOINTMENT - CRITERIA & QUALIFICATIONS
The Committee shall consider the standards of qualification, expertise and experience of the
candidates for appointment as Director, Key Managerial Personnel and Senior Management and
accordingly recommend to the Board his/her appointment.
A person to be appointed as Director and KMP should possess adequate qualification, expertise
and experience for the position he / she is considered for appointment. The Committee has
discretion to decide whether qualification, expertise and experience possessed by a person is
sufficient / satisfactory for the concerned position.
Size and composition of the Board:
Periodically reviewing the size and composition of the Board to ensure that it is structured to
make appropriate decisions, with a variety of perspectives and skills, in the best interests of the
Company as a whole;
Term / Tenure
1. Managing Director / Whole-time Director
The Company shall appoint or re-appoint any person as its Managing Director and CEO or
Whole-time Director for a term not exceeding five years at a time. No re-appointment shall be
made earlier than one year before the expiry of term.
2. Independent Director
An Independent Director shall hold office for a term up to five consecutive years on the Board of
the Company and will be eligible for re-appointment on passing of a special resolution by the
Company and disclosure of such appointment in the Board’s report.
No Independent Director shall hold office for more than two consecutive terms, but such
Independent Director shall be eligible for appointment after expiry of three years of ceasing to
become an Independent Director. Provided that an Independent Director shall not, during the
said period of three years, be appointed in or be associated with the Company in any other
capacity, either directly or indirectly. However, if a person who has already served as an
Independent Director for five years or more in the Company as on April 1, 2014 or such other
date as may be determined by the Committee as per regulatory requirement, he / she shall be
eligible for appointment for one more term of five years only.
Performance Evaluation
The Committee shall carry out evaluation of performance of every Director, KMP and Senior
Management Personnel at regular interval
Removal
Due to reasons for any disqualification mentioned in the Companies Act, 2013, rules made there
under or under any other applicable Act, rules and regulations, the Committee may recommend,
to the Board with reasons recorded in writing, removal of a Director or KMP subject to the
provisions and compliance of the said Act, rules and regulations.
Retirement
The Whole-time Directors and KMP shall retire as per the applicable provisions of the
Companies Act, 2013 and the prevailing policy of the Company. The Board will have the
discretion to retain the Whole-time Directors and KMP in the same position / remuneration or
otherwise, even after attaining the retirement age, for the benefit of the Company.
7. POLICY ON BOARD DIVERSITY
The Board of Directors shall comprise of Directors having expertise in different areas / fields like
Finance, Sales and Marketing, Banking, Engineering, etc. or as may be considered appropriate. In
designing the Board’s composition, Board diversity has been considered from a number of
aspects, including but not limited to gender, age, cultural and educational background, ethnicity,
professional experience, skills and knowledge. The Board shall have at least one Board member
who has accounting or related financial management expertise and at least one woman director.
8. REMUNERATION POLICY
a) Remuneration to director/Managing director/Whole-time Director/KMP
- The Remuneration/Compensation/commission etc. to directors will be determined by the
Committee and recommended to the Board for approval
- The Remuneration/ Compensation/ Commission etc. to be paid to Director/Managing
Director etc. shall be governed as per provisions of the Companies Act, 2013 and rules made
there under or any other enactment for the time being in force.
b) Remuneration to Non-Executive/Independent Director:
The Non-Executive Independent Director may receive remuneration/ compensation/
commission as per the provisions of the Companies Act, 2013. The amount of sitting fees shall be
subject to limits as provided under the Companies Act, 2013 and rules made there under or any
other enactment for the time being in force.
c) Remuneration to other Employees:
- Apart from the Directors, KMPs and Senior Management Personnel, the remuneration for
rest of the employees is determined on the basis of the role and position of the individual
employee, including professional experience, responsibility, job complexity and market
conditions.
- The various remuneration components, basic salary, allowances, perquisites etc. may be
combined to ensure an appropriate and balanced remuneration package.
- The annual increments to the remuneration paid to the employees shall be determined based
on the appraisal carried out by the HODs of various departments. Decision on Annual
Increments shall be made on the basis of this appraisal.
9. DUTIES OF THE COMMITTEE
The duties of the Committee in relation to nomination matters include:
Ensuring that there is an appropriate induction in place for new Directors and members
of Senior Management and reviewing its effectiveness;
Ensuring that on appointment to the Board, Non-Executive Directors receive a formal
letter of appointment in accordance with the Guidelines provided under the Act;
Determining the appropriate size, diversity and composition of the Board;
Setting a formal and transparent procedure for selecting new Directors for appointment
to the Board
Making recommendations to the Board concerning any matters relating to the
continuation in office of any Director at any time including the suspension or termination
of service of an Executive Director as an employee of the Company subject to the
provision of the law and their service contract.
Recommend any necessary changes to the Board; and
to consider any other matters as may be requested by the Board.
The duties of the Committee in relation to remuneration matters include:
to consider and determine the Remuneration Policy, based on the performance and also
bearing in mind that the remuneration is reasonable and sufficient to attract retain and
motivate members of the Board and such other factors as the Committee shall deem
appropriate all elements of the remuneration of the members of the Board.
to consider any other matters as may be requested by the Board.
10. MINUTES OF COMMITTEE MEETING
Proceedings of all meetings must be minutes and signed by the Chairman of the Committee at the
subsequent meeting. Minutes of the Committee meetings will be tabled at the subsequent Board
and Committee meeting.
11. REVIEW AND AMENDMENT
1. The NRC or the Board may review the Policy as and when it deems necessary.
This Policy may be amended or substituted by the NRC or by the Board as and when required and
also by the Compliance Officer where there is any statutory changes necessitating the change in the
policy. However, no such amendment or modification will be binding on the Directors and
employees unless the same is communicated in the manner described as above.
ANNEXURE ’IV’
DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
[Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014]
A. CONSERVATION OF ENERGY
1. The steps taken or impact on conservation of energy;
Creative Intra Limited continued to emphasize on the conservation and optimal utilization of energy in
manufacturing unit of the Company. The energy conservation measures Implemented during FY 2016-17
are listed below:
Lights in the Factory area are switched off whenever not required.
2. Additional Investments & Proposals, if any, being implemented for Reduction of Consumption of Energy:
The company continued its efforts towards effective utilization of energy for reduction in power
consumption. The Company is constantly exploring the use of alternate sources of energy that are
commensurate with the scale of present operations and the type of products being manufactured.
B. TECHNOLOGY ABSORPTION
Efforts, in brief, made towards technology absorption, adaptation and innovation.
C. FOREIGN EXCHANGE EARNINGS AND OUTGO
As the Company has not carried out any activities relating to the export and import during the financial year. There is no foreign exchange expenses and foreign income during the financial year.
For and on behalf of the Board
Creative Intra Limited
Sd/ sd/
Date: 16.08.2017 Gulshan Rai Shiv Prashad
Place: Ludhiana. (Managing Director) (Director)
DIN: 01145876 DIN: 01091474
Address: F-134, Sarojini Nagar, Address: 154/1, Maharani
New Delhi-110023 Jhansi Road, Civil Lines,
Ludhiana-141001
r
R. TnY*.u & .*ssocI"ATEsCTA.RTERf,,D .T.CCOUI{T*I{TS
H.O. : DHARAM PLAZA, I " fLOOR, RAILWAY &OAD, PAL\.{AL-I2I I 02B.O. : T8?.fl,/5, SECOND FLOOB, KILOI(A8.I, OPP. MATIARANI BAC}I, NET{ DELTII.I 1O014
Ph, | 9811066262,26348044, Fax : 26348043 e-mail : [email protected]
Independent Auditors' Report
ToThe Members ofM/s Creative Intra Limited
Report on the Audit of the Standalone Financial Statements
We have audited the accompanying standalone financial statements of M/s Creative IntraLimited ("the company"), which comprise the Balance Sheet as at 3l't March 2017, and theStatement of Profit and Loss. and statement of Cash Flows lor the year then ended, and notes
to the financial statements, including a summary of significant accounting policies and otherexplanatory information.
Responsibility of Management for Standalone Financial Statements
The Company's Board of Directors is responsible for the matters in seotion 134(5) of theCompanies Act, 2013 ("the Act") with respect to the preparation of these Standalone
financial statements that give a true and fair view of the financial position, financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India, including the Accounting Standards specified under Section 133
of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibilityalso includes the maintenance of adequate accounting records in accordance with theprovision of the Act for safeguarding of the assets of the Company and for preventing and
detecting frauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and design.
implementation and maintenance of intemal financial control, that were operating effectivelyfor ensuring the accuracy and completeness of the accounting records, relcvant to thepreparation and presentation of the financial statement that give a true and fair view and are
' free from material misstatement" whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standardsand matters which are required to be included in the audit report under the provisions of the
Act and the Rules made there under.
We conducted our audit in accordance with the Standards on Auditing specified under section143(10) of the Act. Those Standards require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether the financialstatements are tiee from material misstatement. ll
II,(
fI
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor'sjudgment, including the assessment of the risks of material misstatement of the financialstatements. whether due to fraud or error. In making those risk assessments, the auditorconsiders intemal financial control relevant to the Company's preparation of the financialstatements that give true and fair view in order to design audit procedures that are appropriatein the circumstances. An audit also includes evaluating the appropriateness of accountingpolicies used and the reasonableness of the accounting estimates made by Company'sDirectors, as well as evaluating the overall presentation ofthe financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide abasis for our audit opinion on the financial statements.
Opinion
ln our opinion and to the best of our information and according to the explanations given tous, the aforesaid financial statements, give the information required by the Act in the mannerso required and give a true and fair view in conformity with the accounting principlesgenerally accepted in India;
a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31,
2017;b) In the case of the Statement of Profit and Loss, of the profit for the year ended on that
date; andc) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.
Report on other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2016 (l'the Order") issued by theCentral Govemment of India in tems of sub-section (11) of section 143 of the Act 2013,we give in the "Annexure A" a statement on the matters Specified in paragraphs 3 and 4of the Order, to the extent applicable.
.2. As required by section 143(3) ofthe Act, we report that:
a) We have sought and obtained all the information and explanations which to the best
of our knowledge and belief were necessary lbr the purposes of our audit.
b) In our opinion proper books of account as required by law have been kept by theCompany so far as it appears from our examination olthose books.
c) The Balance Sheet, the Statement of Profit and Loss, and Cash Flow Statement dealtwith by this Report are in agreement with the books ofaccount.
d) In our opinion, the aforesaid Standalone financial statements comply with the
Accounting Standards specified under Section 133 ofthe Act, read with Rule 7 oltheCompanies (Accounts) Rules, 2014.
e) On the basis of written representations received from the direetors as on 3l ![arch,taken on record by the Board of Directors, none of the directors is ais9$ified
x/\
f
as on 31 March, 2017, from being appointed as a director in terms of Section 164(2)
of the Act.
With respect to the adequacy of the intemal financial controls over financial reportingofthe Company and the operating effectiveness of such controls , refer to our separate
report in "Amexure A"
With respect to the other matters to be included in the Auditor's Report in accordance
with Rule I I olthe Companies (Audit and Auditors) Rules 2014, in our opinion and
to the best ofour information and according to the explanations given to us :
i. The company has disclosed the impact of pending litigations on its financialposition in its standalone financial statements (Refer Note 21);
ii. The Company did not have any long-term conEacts including derivativescontracts for which there were any material foreseeable losses;
iii. There were no amounts which required to be transferred by the Company to the
Investor Education and Protection Fund.
iv. The Company has provided requisite disclosures in its standalone financialstatements as to holding as well as dealings in Specified Banl< Notes during the
period from 8'h November. 201 6 to J0'h December. 2016 and these are inaccordance with the books of accounts maintained by Company.
For R. Tayal & AssociatesChartered AccountantsFirm No.: 006964Nt /-<
t-N ltt'l\4'
.Nishdnt TayalPartnerM. No. : 522305
Place : New DelhiDate : 30th May 2017
t_
Annexure - A to the Auditor's Report
The Annexure referred to in our Independent Auditors' Report to the members of theCompany on the standalone financial statements for the year ended 31st March 2017. wereport that:
(i)(a) The company is maintaining proper records showing full particulars, including
quantitative details and situation offixed assets.
(b) These fixed assets have been physically verihed by the management at reasonableintervals. No material discrepancies were noticed on such verification and the samehave been properly dealt with in the books of account. In our opinion, thisperiodicity of physical verification is reasonable having regard to the size of theCompany and the nature ol its assets.
(c) As per the information and explanations given to us, the company doesn't hold anyimmovable properties. Accordingly the clause i (c) ofthe Order is not applicable tothe Company.
(ii) The physical verification of inventory has been conducted at reasonable intervals by themanagement. No material discrepancies were noticed and they have been properly dealtwith in the books of account.
(iii) According to the information and explanations given to us, the Company has notgranted any loan, secured or unsecured, to companies, firms or other parties covered inthe register maintained under Section 189 ofthe Companies Act, 2013. Accordingly theclause iii (a) and (b) of paragraph 3 ofthe Order are not applicable to the Company.
(iv) According to the information and explanations given to us, the provisions of section185 and 186 of the Companies Act, 2013 in respect of loans, investments, guarantees,and security have been complied with.
(v) According to the information and explanations given to us, the Company has notaccepted any deposit as per the directives issued by the Reserve Bank of India and theprovisions of sections 73 to 76 or any other relevant provisions of the Companies Act2013 and the rules framed there under. Accordingly the clause (v) of paragraph 3 of theOrder is not applicable to the Company.
(vi) The company is not required to maintain cost records as the activities are not specifiedby the Central Govemment for the maintenance ofcost records under Sub Section (1) ofSection 148 of the Companies Act. 2013.
(vii)(a) According to the information and explanations given to us the company is regular in
depositing undisputed statutory dues including provident fund. employees' it
f
insurance, income lax, sales-tax, service tax, duty of customs, duty of excise, valueadded tax. cess and any other statutory dues to the appropriate authorities.
(b) According to the information and explanation given to us, the assessee company has
filed an appeal to Income Tar Appellate Tribunal, Delhi for Assessment Year 2012-13 involving demand of Rs. 8,86,173i- and the department has filed an appeal
involving demand of Rs. 84,55,4811 totaling Rs. 93.41,6451- in respect of incometax as on March 31.2017.
(viii) The Company does not have any loan from financial institution, bank, Govemment ordues to debenture holders during the year. Accordingly, clause (viii) of paragraph 3 ofthe Order is not applicable to the Company.
(ix) We have verified the books & records of the company & it is obsen'ed that companyhas not raised moneys by way of initial public offer or further public offer (includingdebt instruments) and term loans during the period.
(x) To the best of our knowledge and belief and according to the information and
explanations given to us, no fraud on or by the Company by its officers has been
noticed or reported during the course of our audit.
(xi) According to the information and explanations give to us and based on our examinationof the records of the Company, the Company has not paid/provided for managerialremuneration during the year. Accordingly, clause (xi) of paragraph 3 of the Order is
not applicable to the Company.
(xii) In our opinion and according to the information and explanations given to us, theCompany is not a Nidhi Company. Accordingly, clause (xii) of paragraph 3 of the
Order is not applicable.
(xiii) According to the information and explanations given to us, all transactions with therelated parties are in compliance with section 177 and 188 of Companies Act, 2013
where applicable and details of such transactions have been disclosed in standalonefinancial statements as required by applicable standards.
(xiv) According to the information and explanations given to us, the company has not made
any preferential allotment or private placement of shares or fully or partly convertibledebentures during the year under review.
(xv) According to the information and explanations given to us and based on our audit of the
records of the Company, the company has not entered into any non cash transactionswith directors or persons connected with him. Accordingly, clause (xv) of paragraph 3
of the Order is not applicable to the Company
I
(xvi) The Company is registered under section 45-lA ofthe Reserve Bank of India Act 1934.
For R. Tayal & AssociatesChaftered AccountantsFirm No.: 006969Nf-A
-lll, by
Nishant TayalPartnerM. No. : 522305
Place : New DelhiDate : 30th l,/ray 2017
J
Annexure - B to the Auditors' Report
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act, 2013 ("the Act'o)
We have audited the intemal financial controls over financial reporting of M/s CreativeIntra Limited ("the Company") as of 31't March 2017 in conjunction with our audit of the
standalone financial statements ofthe Company for the year ended on that date.
Management's Responsibility for Internal Financial Controls
The Company's management is responsible for establishing and maintaining intemal financialcontrols based on the intemal control over financial reporting criteria established by the
Company considering the essential components of intemal control stated in the CuidanceNote on Audit of Intemal Financial Controls over Financial Reporting issued by the Instituteof Chartered Accountants of India ('ICAI'). These responsibilities include the design,
implementation and maintenance ol adequate intemal financial controls that were operatingeffectively for ensuring the orderly and efficient conduct of its business, including adherence
to company's policies. the safeguarding of its assets, the prevention and detection of fraudsand errors, the accuracy and completeness of the accounting records, and the timelypreparation ofreliable financial information, as required under the Companies Act,20l3.
Auditors' Responsibility
Our responsibility is to express an opinion on the Company's intemal financial controls overfinancial reporting based on our audit. We conducted our audit in accordance with the
Guidance Note on Audil of Intemal Financial Controls over Financial Reporting (the
"Guidance Note") and the Standards on Auditing, issued by ICAI and deemed to beprescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an
audit of intemal financial controls, both applicable to an audit of Intemal Financial Controlsand, both issued by the Institute of Chartered Accountants of India. Those Standards and theGuidance Note require that we comply with ethical requirements and plan and perform the
audit to obtain reasonable assurance about whether adequate intemal financial controls over
. financial reporting was established and maintained and if such controls operated effectivelyin all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy oftheintemal financial controls system over financial reporting and their operating effectiveness.Our audit of intemal financial controls over financial reporting included obtaining anunderstanding of internal financial controls over financial reporting, assessing the risk that amaterial weakness exists, and testing and evaluating the design and operating effectiveness ofintemal control based on the assessed risk. The procedures selected depend on the auditor'sjudgment, including the assessment of the risks of material misstatement of the financialstatements. whethcr due to fraud orerror.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide abasis for our audit opinion on lhe Company's intemal financial controls system over linTpcialreporting. It
t]I
t\I
t
Meaning of Internal Financial Controls over Financial Reporting
A company's intemal financial control over financial reporting is a process designed toprovide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for extemal purposes in accordance with generally
accepted accounting principles. A company's internal financial control over financial reportingincludes those policies and procedures that(1) pertain to the maintenance of records that. in reasonable detail, accurately and fairly
reflect the transactions and dispositions ofthe assets ofthe company;(2) provide reasonable assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally accepted accoiintingprinciples, and that receipts and expenditures of the company are being made only inaccordance with authorisations of management and directors of the company; and
(3) provide reasonable assurance regarding prevention or timely detection of unauthorisedacquisition, use, or disposition of the company's assets that could have a material effecton the financial statements.
Inherent Limitations of Internal Financial Controls Over Financial Reporting
Because of the inherent limitations of intemal financial controls over financial reporting,including the possibility of collusion or improper management override of controls, materialmisstatements due to error or fraud may occur and not be detected. Also, projections of anyevaluation ofthe intemal financial controls over financial reporting to future periods are subjectto the risk that the intemal financial control over financial reporting may become inadequate
because ol changes in conditions. or that the dcgree of compliance with the policies orprocedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate intemal financialcontrols system over financial reporting and such intemal financial controls over financialreporting were operating efTectively as at 3l March 2017, based on the intemal control overfinancial reporting criteria established by the Company considering the essential components
' ol intemal control stated in the Guidance Note on Audit of Intemal Financial Controls OverFinancial Reporting issued by the Institute of Chartered Accountants of India.
For R. Tayal & AssociatesCharteredFirm No.:
M. No. : 522305
Place : New DelhiDate : 30th May 2017
L
CREATIVE INTRA LIMITEDBALANCE SHEET As AT Jt'' MARCH,zorz
PatticularsNoteNo.
As at 3l March, 2()17(Rs.)
As at 3l March. 2t)16(Rs.)
A
B
EQUITY AND LIABILITIES1 Shareholders' funds
(a) Share capital(b) Rescnes and surplus
Current liabilities(a) Olher currenl liabilitics(b) Short Tenn ProYisions
TOTAL
ASSETS
Non-current assets(a) Fi\ed assets
(i) Tangible assets
(iii Dcfcrcd Ta\ Assets
Current asscts
(a) ln\ entorics(a) Trade recei\ ablcs
(b) Cash and cash cqui\ alcnls(c) Short-lcrnt loans and adlances
TOTAL
l
f6
1
8
9
l011
l2
5.56.I2.8(X).0016.09.76.80,1.12
2 i 65 89 61)l 12
20 00.855.(X)12.85.000.(x)
a,r -&5-&i5 {X)
22,28,75,159.12
57.08.625.00I ".10.+20.00
58J9.()15rX1
11 26 10 065 20
l.+0.123.00-7
.11 .200.+1+_:r+_69.025.+5
2tlo.261t+.n__2fiJ3p12-
5.56.12.800.{X)
I5.00..10.79-l.0tt
20-5(j'1r-59+rS
22.5.t.612.002:i.90.()u).00
]arl1l, t2lXl
___21Jl2d!2!!.0!_
59."17.623.00
t.l.+.0+0.00
61 (r6l 00
l8.l()_-10.065.20
7,1.686.00
-1.16..12[a . 9 3
2.26.65.362.95
,0Jr26-51iltt___2!Jt2d!21!!.0!_
Sce accornparl ing notes fonning part oflhe irnancial staternents
Per our Repofl of E\ en Datc
For R. Talal & Associates
Clufiered AccounatentsFrmNo :yA
I
iLwv-/Ni-.t,rn, trr:,,t
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Partner ,:M No : 522.1{)5
/h-// Cutslun Rurfdrfu-9
FINANCIAT OFFIC ER
Managing DireclorDIN : 0l l1-s876
Neu' Delhi:10-05-2017
--,<_:f---r1Shiy Prashad
Directort tN 0l09l17+
r),^g\Xni..r rs l],r Dl{ARORAc Ont pA N yiSECRE TARy
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CREATIVE INTRA LIMITEDpRoFtr & Loss ACC0UNT FoR THE yEAR ENDED 31tt MARCH.2ot7
See accompanl ing notcs lororing part of the flnancial slatcments
Per orll Report of E\-en DateFor R. Ta\ al & Associates
Chartered AccounalantsFirm No. ;.006961
^)tr ','.
NiShant Ta1al. .
Parf ner -.-.i -
M No : 522305
Managing DirectorDIN : 0I I15876
Neu De1li:i0-05-2017 Shiv Prastrad
DirectorDiN : 01091+71
Particulrrs NoteNo-
For the !ear cndcdf I Mrrch- 2017
For the l-enr cndcdJl March- 2016
ReVenue from operationsOthcr Incorne
Total reYenue
Erpenses(a) Purchases of stock-in-trade(b) Changcs in inYcntorics of firrished goods.(a) Emplo\ec bencfit e\penses(b) Finance costs
(c) Dcprcciation afld arnorlisation cxpcnsc(d) Othcr eripenses
Total e\penses
Profit / (Loss) belbre tax (2 - 3)
Ta\ erpense:(a) Currcnt ta\ c\pcnsc for cullcnl \car(b) (Less): MAT credit (\rhere applicablc)rcl Currcrt tir\ c\pcusc rchting to prror-rcrrs(d) Ncl currcnt [a\ c\pcrsc(e) Dcfeffcd ta\
Profit / (Loss) for the tcar ({ - 5)
Earnings pcr sharc (of l0/. cach):(a) Basic(b) Dilutcd
I2
l:ill
l5l6t'7
lttl92t)
I 9l 57 l2l 00
52.03.05 t.00
2..16.60. 172 00
8-1.00_000.00
2.16.000.00716.00
2.71.2 98.00
I8.9{t.081 .96
1.07.86.125.96
I . .i tt.7.1.0-16.01
i0.00.000 00
(.15.58-1.00 )
2'L5{1lft00(26.380.00)
29.28.036.00
r,09,{6,010.0{
1.97
1 .9'.7
2.5i.6tt.323.935 5.9 9. -t 9 5.00
3.11.67.818.93
2.13.76.000.00
l.-50.000.002.303.00
3_09.600.0020 tto I tt7 7l
2.69.1{J.090.7i
.12.19.728.20
0.570 57
11.05.000.00
11.05.000.00(+3.232.01)
10.61.767.99
31,41,960.21
,4it/C 1G'istt:rnaai
(trrehir,JhALH ARORAc m& t,secRe IARY
",€iy^no-{c1r[Er flrrnucAl or flcen
CREATIVE INTRA LIIT{ITEDCASH FLOW STATEMENT POR THE YEAR f,NDED 3IS' MARCH 2017
See accornpanr ing nolcs forl|ling pan of Iltc financixl slalernenls
Pcr our Repon of E\en Date
For R. Ta]at &.Associates
DIN : 0l I'l5li76
ered AccoinatrntsN" rooglrt
Ncrr Dclhi30-05-2017
q,,iI^[nii r! HJ4tH ARORAC.OIVIPANY SECRETARYrvt No 44 fi 24
s.:t-*Shir Prastrad
DircctorDIN : 01091.171
PlrticularsFor the )ear ended
-11 Mrrch- 2{}17
For the lear cnded3l sr March.2016
A
B
C
CASH FLOW FROM OPER{TING ACTIVITIES
Net Profit before tar & crtra items as per Statemrntof Profil & LossAdjustment lor :
Dcpreciatiol & amorlisation e\penses
Interest CostsRcnt Receir cd
Other Non Opcraling Income
Operating Profit Bclbre Worliing Capital ChangeAdiustmcnt for :
(hrcrease)/Dccrcasc in in\ clrlories(lncrersc)/Decrease in tradc rccci\ ablc(lncrcasc),/Dccrease in shorl tcrn loan & ad\ ances
(Incrcase)/Decreasc in othcr currcnt asscts
Increase/(Decrease) in trade paYablc
I ncrease/( Dccrcasc ) iI sllon lenll pror rsions
lncrease/(Decrease) in othcr currcnt liabiliticsCnsh Generlted From OpcrationsNet Incomc Tax (Paid)/ refunds
Other Non Opcrating lncolncNct Cash Cenerated From Operations
CASH FLOW FROM INVESTING ACTIVITIES(Purchasc) of Fixcd Assets
Rent Recei\,ed
Net Cash From Inresting ActiYities
CASH FLOW FROM FINANCING ACTIVITIESIntercst Paid
Nct Cnsh From Financing Actir ities
NET INCREASE/(DECRXASE) IN CASH ANDCASH EQUIVALENTS (A+B+C)CASH AND CASH EQUIVALENTS AT START OF
YEARCASH AND CASH EQUTVALENTS AT CLOSEr)F'YI],dR
1.38.7.1.016.01
2.71.291t.00250.00
(51.75.21Lo0)(27.810.00)
r|9,{2,5{3.0{
tt+.00.000.00(65..137.00)
(2.0n.03.662.50)
18 95 000 00rl 5l 7i7 rlr))
(ts"&.J13JO(29.51.+ r6.00)
27.810.(X)
12.19.'.7 28.20
i.09.600.(x)
(55.99..r95.(X) )
____=.-j-(10,{0,166.80)
(7+.6ri6.oo)(-15.05.983.oo)
I1.05.0(x).(x)(6.31.751.73)
(51,{7,587.53)(l1.05.000.00)
(Jlt-11-919-J6) (62.s2.587.53)
(:i2.3(X).(X))
5 1.75.2,1r.00
(7.27.35.r.00)55.99.195.00
5I -J2.9{t.00 18,72,112.01t
(25r) l)l) )
(2s0.00)
3,30,771.5t
-t.+6..128.93
7,77,200.17
(13,80,{{S.s3)
l n.26.871.-16
4,{6,r28.93
Nishart Ta-val
PaflncrM. No. : 522305
ChartFirm
2.1
CREATIVE INTRA LIMITED
NOTES FOR.IVTING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDf,DMARCH 3I. 2017
I. GENERALINFORMATION:
Creative lntra Limited (the "Company") rvas incorporated on June I l, 1981 rvith the Registrar
ofCompanies Delhi and Haryana and now transferred to Registrar of Companies Chandigarh
w.e.f. I 5'h day of March 201 7, having ifs registered office at GT Road Miller Ganj Ludhiana,
Punjab-141003. The Company is engaged in business of Share trading, financial Consultancy
and it is earning Renl from it: investments in propenies.
2. SIGNITICANTACCOUNTINGPOLICIES:
Basis of preparation of financial statements
Thcsc financial statements arc prepared in accordance with Indian Generally Acccpted
Accounting Principles (GAAP) under the historical cost convention on the accrual basts
except for certain financial instruments which are measured at fair values. GAAP comprises
mandatory accounting standards as prescribed under Section 133 ofthe Companies Act,2013('Act') read with Rule 7 ofthe Companies (Accounts) Rules, 2014, the provisions ofthe Act(to the extent notified) and guidelines issued by the Securities and Exchange Board of lndia
(SEBI). Accounting policies have been consistently applied except where a newly issued
accounting standard is initially adopted or a revision to an existing accounting standard
requires a clrarrge in the accounting policy hitherto in use.
2.2 Use of estimates
The preparation of the financial statements in conformity with GAAP requires management to
make estimates and assumptions that affect the reported balances of assets and liabilities and
disclosures relating to contingent liabilities as at the date of the financial statements and
reported amounts of income and expenses during the period. Examples of such estimates
include computation of percentage of completion which requires the Company to estimate the
efforts or costs expended to date as a proportion of the total efforts or costs to be expended,
provisions for doubtful debts, future obligations under employee retirement benefit plans,
income taxes, post-sales customer support and the useful lives of fixed tangible assets and
intangible assets.
Accounting estimates could change from period to period. Actual results could differ from
those estimates. Appropriate changes in estimates are made as the Management becomes
aware of changes in circumstances surrounding the estimates. Changes in estimates are
reflected in the financial statements in the period in which changes are made and, if material,
their effects are disclosed in the notes to the financial statements.
Revenue reeognition
Sale ofgoods
Revenue from the sale of products, net of retums & trade discounts is recognised
2.3
CREATIVE INTRA LIMITED
of substantial risk and rewards of ownership to the customers, which generally coincides with
the delivery of goods to customers, and is net of value added tax, where applicable, but
inclusive of excise dufy.
Income from services
Revenue from services is recognised when services are rendered and related costs are incurred.
Foreseeable losses on contracts are recognised u'hen probable.
Other income
Intercst income is accounted on accrual basis. Dividend income is accounted for when the
right to receive it is established.
Profit on sale of investments is recorded on transfer of title from the Company and is
determined as the difference between the sale price and carrying value of the investment.
Lease rentals are recognized ratably on a straight line basis over the lease term. Interest is
recognized using the time-proportion method, based on rates implicit in the transaction.
Dividend income is recognized when the Company's right to receive dividend is established
2,4 Provisions and contingent liabilities
A provision is recognized if, as a result of a past event. the Company has a present legal
obligation that is reasonably estimable and it is probable that an outflow of economic benefits
will be required to settle the obligation. Provisions are determined by the best estimate of the
outflow of economic benefits required to settle the obligation at the reporting date. Where no
reliable estimate can be made, a disclosure is made as contingent liabiliry.
There is a contingent liability totaling Rs. 93,41,645/- on account of appeal filed to Income
Tax Appellate Tribunal, Delhi by Assessee Company Rs. 8,86,173/- and by Department Rs.
84.55.48 I /- respectir.ely.
. 2,5 Tangible assets and capital work-in-progress
Tangible assets are stated at cost, tess accumulated depreciation and impainnent, if any. Direct
costs are capitalized until such assets are ready for use. Capital work-in-progress comprises ofthe cost of fixed assets that are not yet ready for their intended use at the reporting date.
2.6 Depreciation and amortization
Depreciation on tangible assets is provided on the straight-line method over the useful lives ofassets estimated by the Management. Depreciation for assets purchased / sold during a period
is proportionately charged. Intangible assets are amortized over their respective individual
estimated useful lives on a straight-line basis, commencing from the date the asset is available
to the Company for its use.
2.7 Share-basedpayments
entThe company accounts for equity settled stock options as per the accounting
f
2.8
CREATIW INTM LIMITED
prescribed by Securities and Exchange Board of India (share based employee benefits)
Regulations, 2014 and the Guidance Note on Employee Share-based Payments issued by the
lnstitute of Chartered Accountants of India using the intrinsic value rnethod.
Income taxes
Income taxes are accrued in the same period that the related revenue and expenses arise. Aprovision is made for income tax, based on the tax liabilify computed, after considering tax
allowances and exemptions. Provisions are recorded when it is estimated that a liability due to
disallowances or other matters is probable. Minimum altemate tax (MAT) paid in accordance
with the tax laws, which gives rise to future economic benefits in the form of tax credit against
future income tax liability, is recognized as an asset in the Balance Sheet ifthere is convincing
evidence that the Company will pay normal tax after the tax holiday period and the resultant
asset can be measured reliably. The Company offsets, on a year on year basis, the current tax
assets and liabilities, where it has a legally enforceable right and where it intends to settle such
assets and liabilities on a net basis.
The differences that result between the profit considered for income taxes and the profit as per
the financial statements are identified. and thereafter a defened tax asset or deferred tarliability is recorded for timing differences, namely the differences that originate in one
accounting period and reverse in another, based on the tax effect of the aggregate amount oftiming difference. The tax effect is calculated on the accumulated timing differences at the end
of an accounting period based on enacted or substantively enacted regulations. Deferred tax
assets in situation where unabsorbed depreciation and carry forward business loss exists, are
recognized only if there is virtual certainty supported by convincing evidence that sufficient
future ta\able income will be available against which such deferred tax asset can be realized.
Deferred tax assets, other than in situation of unabsorbed depieciation and carry forward
business loss, are recognized only if there is reasonable certainty that they will be realized.
Defened ta.\ assets are reviewed for the appropriateness of their respective carrying values at
each reporting date. Deferred tax assets and deferred tax liabilities have been offset wherever
the Company has a legally enforceable right to set off cunent tax assets against current tax
liabilities and where the deferred tax assets and deferred tax liabilities relate to income taxes
levied by the same ta)(ation authority. The income tax provision for the interim period is made
based on the best estimate of the annual average tax rate expected to be applicable for the fullfinancial year. Tax benefits of deductions earned on exercise of employ€e share options in
excess of compensation charged to statement of profit and loss are credited to the securities
premium reserve.
Earnings per share
Basic eamings per share is computed by dividing the net profit after tax by the weighted
average number of equity shares outstanding during the period. Diluted earnings per share is
computed by dividing the profit after tax by the weighted average number of equity shares
considered for deriving basic eamings per share and also the weighted average number ofequity shares that could have been issued upon conversion of all dilutive potential equity
shares. The diluted potential equify shares are adjusted for the proceeds receivable had the
shares been actually issued at fair value which is the average markel value of the outs;anding
IA
IJ
2.9
CREATIW INTRA LIMITED
shares. Dilutive potential equity shares are deemed converted as of the beginning of the
period, unless issued at a laler date. Dilutive potential equity shares are determined
independently for each period presented.
The number of shares and potentially dilutive equity shares are adj usted retrospectively for all
periods presented for any share splits and bonus shares issues including for changes effected
prior to the approval ofthe financial statements by the Board of Directors.
2.lO InYestments
Trade investments are the investments made to enhance the Company's business interests.
Investments are either classified as current or long-term based on Management's intention.
Current investments are carried at the lower of cost and fair value of each investment
individually. Cost for overseas investments comprises the Indian Rupee value of the
consideration paid for the investment translated at the exchange rate prevalent at the date ofinvestment. Long term investments are carried at cost less provisions recorded to recognize
any decline, other than temporary, in the carrying value ofeach investment.
2.ll Cash and cash equivalents
Cash and cash equivalents comprise cash and cash on deposit u'ith banks and corporations.
The Company considers all highly liquid investments with a remaining maturity at the date ofpurchase of three months or less and that are readily convertible to known amounts of cash to
be cash equivalents.
2.12 Cash flow statemenl
Cash flows are reported using the indirect method, whereby profit before tax is adjusted for
the effects of transactions of a non-cash nature, any deferrals or accruals of past or future
operating cash receipts or payments and item of income or expenses associated with investing
or financing cash flows. The cash flows from operating, investing and financing activities of' the Company are segregated.
2.13 Leases
Lease undcr which the Company assumes substantially all the risks and rewards of owncrship
are classified as finance leases. Such assets acquired are capitalized at fair value ofthe asset or
present value ofthe minimum lease payments at the inception ofthe lease, whichever is lower.
Lease payments under operating leases are recognized as an expense on a straight line basf in
the statement ofprofit and loss over tlre lease term. ll
^tl
I
CREAI'I VE INTRA LIMITEI)
As at 3l March, 2017 As rt 31 Mrrch.2{)16
3 SHARE CAPITALAuthoriscd Capilal :
60.()0.000 Equin Sharcs olRs l() (X) cach
lssued. Subscribed & Paid-up Capital :
-1.98.25{) Equitr Sharcs of Rs l0/- cach
50.6:1.0:i0 Equitr Shares ofRs.l0/- cach
flrll1 paid up issued in Scheme of Mcrgcr
Naurc of Shareholder
Mr. Shir Prashad MittalM/s Aarli Stcels LtdM/s Gala Finance & [n'estmert Ltd.
3.3 The reconciliation ofno. ofshares outstanding
Equitl Shares at the beginning ofthc lcar' Add : No. ofShares issued during thc lear
Equill Sharcs at thc cnd oflhc rear
6.()0.00.001).t){) 6.00.00.000.00
6 00 00 000 {)0 (r.00.00.000.(x)
.19. f,i2. 5 00 .00
5"06.:10.100.(x)
.19.lt2.5(X).00
5.06.30.300.00
5.56,12,800.00 _____l,rfJlJ!!!1Jl!!_
3.1 T hc con.rpan) has onll ouc class ofcquill sharcs haling tlte par rrluc ofRs. l0/- per sltarc. Each shareholder is cligible
lor I Vote per share. The dir idcnd proposcd bl thc board of directors is subjected to the approYal of shareholdcrs ercept
i1 c3sc of interirn dirideud. ln thc c\cnt ol liquidation. the equitl shareholdcrs are eligiblc to rcccivc the retnaining
asscts ofthc compan). aftcr distribution ofall prclcntial a[rounts- in proponio[ ofthcir shareholding.
3.2 Details of slures hcld bi sharcholders holding nrore than 5')1, of the aggregate sharcs in lltc companl
As at 3lst March.20l6As a1 :l lst%ol
)|l'7
No. of shares hcld No. of shares held%of
29yo
3 tyo
t9,vo
16.22.620.1)|16.97.7i1.00t0.61t.510.00
16.22.620.00l6_97.75 t.(x)10.68.510.00
: %tgyo
55 61 21t0 00 55.61.2110.1X)
55.61.280.00
CREAL'I VE INTRA LIMITEI)
As at 3l March, 2{)17 As at 31 March. 2{)16
{ RESERVE AND SURPLUSShare Premrun Account
At thc bcginning of thc rcarAdd: Additions during thc \car
At the cnd ofthe Year
Profu & Loss AccountAt the beginning ot thc learAdd : Additions dudnlt thc )car
Al lhe end of lhe Year
5 OTHER CURRI,NT LLABILITIESErpenses PalrblcDutics & Ta\esSundry CrcditorsSccuri$ Deposit
SHORT Tf,RM PROVISIONSPror ision for Incotne Tar
1.10.00.000 00 l.{0.00.000 00
I -lr.()0-00f) 0rl I -10 00 000 (x)
I l.an).30.79.1.08
1 .0 9. -16.0 1 0 . 0-l
13.28.-12.83 3.87
31.87.960.21
I -1.69.76.80-1. l2
__t.!,t2_J!fl!.n
3.1.195. (X )
10.227. (X )
1lJ.800. ( x )
t9 :r7 +13 00
20.00,855.00
11.60.10.7e.I 08
15,00,30,79{.08
2.1ltt. 159 (x)
29.020.(X)
l9 .t7 lll {)0
_____-n6!612.0!_
23.90.000.00
_IJJ0J!!.0'!]_
L
Icc:
a
1
\ia\
<)
t-
|:'-
E!i
c:-=-/T\i
2 ? a ? ",
? ? ? ",
? ?. = =
- 3 Z =
a ?- - ,. ,;.. r ,/ 'd : r.. - : .t -': x,,.... a ar - '_ - : . (r r : a : , a I I t. * t^ t'-'-- 5 ir j t- a it - + a : ,^ z : ,^ F : '.. L:' ,.' , -; -r,- -j -_ ; ; :. .i y- a r *. -.i ,t - -:,;a .r.+
r-FE<qa*<-
.3-] )>
=i'<-/'-'-F==a)'- 1 t-.
.. z = =a_- _,4^,==='=,!=r='-"='? -r! := -* =41:):i-< E = i> += t = i = r. = a.- =_.= !^i'. i r:
-'r: ! r -i :a - .a =
1, :' = r :
= -, 1 :i.i : Js s Z= :-!> : : /
J)(,F
<qa*
trF=<qa9<-
a-F5<.1vr!<'-
rll!tF<E?or.
zF
a9
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F
Uri
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allirl
sl.it{l
*l
s
$l
Fll1V)
t'Iirt:-
t_CREAT-I VE I NTRA LIMI'I'EI)
As nt 3l March,2017 As at 31 March. 2016(Rs.) (Rs)
IO
II DEFFER-ED TAX ASSETOn dcprcciation (Diflcrcncc of as per Books &as Per lncome Ta\ Acl )
INVENTORIESClosing Stock
(As taken and certified b) Managcmcnt)
TRADf, RECEIVABLESDcbtors outstandinpi lor a pcriod erceeding six ntonlhs
Considered Good
Othcr DcblorsCorsidered Good
1I CASH & BANK BALANCI,SCash in t.{and
Balance $ith Schedulcd Banks
In Cullcnl Accounts
I2 SHORT TER.II{ LOANS & ADVANCES(a) Securio Deposit(b) Balanccs $ith goYernment authorilics
Ursecurcd. considercd good
lncone Ta\ Paid
TDS Rccorcrablc(cl Othcr loans & Ad\ arces
Prcpaid E\penses
Inter corporatc DcpositsAdvance lor Propert]
t.+r)..120 00
______u!!J2!Lt!!_
t 7.26.-10.065.20
17,26,{0,065.20
l. H.0l0 (n)
____J.'1JJ1M'JllL
18.10.-r0.065.20
18.10,{0,(}65.20
7-l.6li6 00
_____-_1f!!{!_
r.+0. 123.00
I,,10,121.00
1.3(r.902 55
(t lll 291 92
2.86.912.55
1.59.-156..18
7,77,2{}$.17 {,{6,J28.93
61. 184.75
.19.91i.019.(x)
.17.17.89-1.00
35"60tt.50
3.33.29"666.(n)
2 .96 .623 .?.\t
5 5. I 1t+.75
10.18.019.00-16.89.185.00
7.8(rl (X)
t.-r5.61r.2 57.00
2.96.623.21)
2,2(,,65.362.95
CREA'L-IVE INTRA LIMII'EI)
As at 31 March. 2017 As at 31 March,2016(Rs., (Rs.)
lJ REVf,NUE FROM OPERATIONInferesf RccciYed
Sale of sharcs & Mutual fitnd
Salc of products cotnprises
Traded goods
Sharcs & Mntual Fruid
Sale of scn iccs
Inlcrcst Inconle
I{ OTHER INCOMEAnount Writtcn BackRent
15 PURCHASES OF STOCK IN TR,A.DE
Purchases
Purclrase of products colnprisesTradcd goods
Shlrcs
16 Chrnges in Inlcntorl-Opcning stock in lradcl-ess: Closing Stock in Tradc
t9.57. I2 t.00I 75 (X).0(X).(X)
9.51.-152.(n)
2.16.16.1t71 9i
____-t2 jilJ2-u'|!l_ ----2,rnfqJ2l.el-
1.75_()().(X)0.00
t9_57. t2 t .(x)
27.13 I0.005175.2"11.(xl
2..16. l6.tt7l .9ll
9 51 152 (X)
s2,03,051.00
55 1)9 .195 rX)
____1i.e2195.0!1_
2.,13.76.(XX) 00
2.13.76.0(X).00
l lt. t{).11).065.20
17.26.+0.065.20
2.-1i.76.(XX).00
18.11).10.065.20
18.10.-10.065.20
I
C REA'|-I VE I NTRA LIM I'I'EI)
As at 31 March,2017 As ut 3l Mrrch. 2{)16
(Rs.) ( Rs.)
I7 EMPLOYEE BENEFIT EXPENSESSalan
III FINANCLAL COSTBanl( Chargcs
I9 DEPR.ECIATION AND AMORTIZATION EXPENSESDcprecialion
20 OTHER EXPENSESAd\ crtisenent E\pensesAnnual listing Fccs
Audit Fccs
Misc. E\penscsElectricih Chargcs
Filing Fccs
I tcrcsl paid
Legal & Profcssional chargcs
Poslage & Telcgral)rPropcrl\ la\PcnalfRcpair & maittlcnauceShort & E\cessTclcphone E\penscs
Printing & Stationary
Processiog Fees
Sdcurill erpenses
Re\ ocation Fccs
Share Transfcr Fcc
TDS Paid - E\penscs
Travelling E\pcnscs
Up kccp ofBuildirg
2. t6.0(10.00 I 50 000 (x)
2,16,000.00 _______]j!lJ1lll1.0!1_
7{6.00 2.30i.00
7l6.tt0 2,303.00
2.7t.29tt.(X) I 09 600 (x)
2,71,298.00 _______1J2J!!.0!l_
38.986.00
211.750.0r )
28.275.001.7 1.912.00
8i.-l(x).(x)250.0()
t..t7.050.0020.1XX).0{)
r.30_087.00
l.7ti.0-l L{x}
i (r. 5 (r"1. 96
tt.(x){).1x)
2.16.(XX).(X)
11.500.00
51.94,0.00
t.lt70.009l.0rx).0()
:i.51..t06.00
1.33.152.(x)
1.1.350 {)0
1.9:r.0-11.00
56.ti00.0()
85.198.00
2.95.:167.0{)
1.29.912.00
t5"750.002"91.2 I t.75
1.392.10
ti 7.5 28.613
2.250 1)0
1.37."100.(x)
1.87.500.00
{ 79 3r2-(X)
20.[i0 Itt7.7I
CREATIVE INTRA LIMITED
2l Additional Information to Financial Statements
1. ContingentLiabilitiesThe company is involved in litigation with lncome Tax Department. The Appeal is pending at
lncome Tax Appellate Tribunal (Assessment Year 2012-13) Rs. 93,41,6451.
2. Capital CommitmentsThe estimated amount of contracts remaining to be executed on capital account not providedfor net ofadvances 'NIL' (Previous Year 'NIL').
3. Other CommitmentsThe company has no outstanding commitment at the current as well as previous year which are
of onerous nature i.e. the cancellation of which rnight result in losses disproportionate to thebenefits involved.
Im alue on the lnsurance and F basis
ParticularcAs at 31"
March'2017As at 31"
March'2016Capital Goods Nil NilOthers Nil Nil
4.
1
6.
Activities in l Cu
ParticularsAs at 31"'
March'2017As at 31"
March'2016Outgo Nit NilInflow Nil Nil
Payment to AuditorsAudit Fees (incl. Service Tax) Rs. 28,750.00Other Services (incl. Service Tax) Rs.4.600.00
Disclosure on Specified Bank Notes (SBNs)During the year, the Company had specified bank notes or other denomination note as defined in theMCA notification G.S.R. 308(E) dated March 3 l, 2017 on the details of Specified Bank Notes (SBNS)
held and transacted during lhe period from November 8. 2016 to December 30,2016, the denomination
8.
Per Share LrsParticulars
As at 31"March'2017
As at 31'tMarch'2016
Face Value per Share I 0.00 10.00
Net Profit / (Loss) after Tax 10.946.010.04 3, r87,960.21
Weishted Averase Number of Shares 55,6 t,280 55,61,280Basic & Diluted EPS 1.97 0.57
wise SBNs and other notes as Der nolification is given belou :
Particulars SBNs *Other
DenominationNotes
Total
Closing cash in hand as on November 8,2016 2.69.000.00 11.9'12.55 2.86.972.55(+) Permitted Receipts Nit t,20,000.00 1"20.000.00
) Permitted Payments Nit Nit Nil-) Amount Deposited in Banks 2.69.000.00 Nil 2.69.000.00
Closins cash in hand as on December 30. 20!6 Nit 1.37 -912.55 1.r7.972.55* For the purpose of this clause, the term 'Specified Bank Notes' shall have rhe same meanifg provided
/l
I
CREATIVE INTRA LIMITED
9.
A
in the notification of the Govemmenl of lndia, in the Ministry ol Finance, Department of Economic
Affairs number S.O. 3407(E). dated the 8th November, 2016.
Related Partv Disclosure
B Transactions with Related Parties during the Financial Year
10. Previous year figures have been regrouped or reclassified wherever necessary to confirrn to
current year classifi cation.
For R. Tayal & Associates(,C hartered Accou nttrlts)Firm No. : 006969(
'/l
lrirn' I
fiishant TavalPartnerM. No. : 522305
New Delhi30th May 201 7
-,.fttrh[-^COI,lPANY SECRETARY1,, l.lo A4 1 124
Managing DirectorDIN :01145876
-s45e-41Shiv PrashadDirectorDIN : 01091474
Name of Related Parties and ofa. Holdine & Subsidiary Company Noneb. Assoc iate EDterprises None
c. Key Managerial Personnel & theirrelatives
Mr. Mahesh Ivlittal - Director's Relative
Mr. Raieev Mittal - Director's Relative
d. Companies where Key ManagerialPersonnel & their Relatires harcsignificant influence:
None
Nature of Transaction
Holding/Subsidiary/AssociateComDanies
Key ManagementPersonnel
Entities & Relatives ofKMP
2015-16 2016-17 20r5-r6 20lGl7 2015-16 2016-17
L
ii.
L
t1.
SaleMr. Mahesh MinalMr. Rajeev Mittal
Outstandine BalanceMr. Mahesh MittalMr. Rajeev Mittal
75,00,0001.00.00,000