29 Apr 2017 | Livemint.com

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Amrit Corp. Ltd.

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Amrit Corp. Ltd. Accounting Policy

 

REPORT ON CORPORATE GOVERNANCE

1. Company's philosophy on Code of Corporate Governance

The principles of Corporate Governance and the Code of Business Conduct & Ethics are the cornerstones of your Company. Your Company has consistently striven to implement best corporate governance practices reflecting its strong value system and ethical business conduct. The Company's philosophy on Corporate Governance envisages attainment of highest levels of transparency, accountability and integrity in the functioning of the Company with a view to create value that can be sustained continuously for the benefit of its stakeholders. All employees are bound by a Code of Conduct that sets forth Company's policies on important issues including our relationship with consumers, shareholders and Government.

2. Board of Directors

The Board of Directors consisted of 9 Directors as on 31st March, 2015. The Board has a healthy blend of executive and non-executive directors which ensures the desired level of independence in functioning and decision making. The Board comprises of a Chairman & Managing Director, a Managing Director and seven Non-Executive Directors. Out of nine directors, five Non-Executive Directors are independent directors including one Women Director. All the non-executive directors are eminent professionals and bring in wealth of expertise and experience for directing the management of the Company.

The primary role of the Board is to protect the interest and to enhance value for all the stakeholders. The Board operates within the framework of a well defined responsibility matrix which enables it to discharge its fiduciary duties of safeguarding the interest of the Company, ensuring fairness in decision making process, integrity and transparency of the Company's dealing with its members and other stakeholders.

(a)  Number of Board Meetings:

During the financial year 2014-15, Five (5) Board Meetings were held on 27th May, 2014; 12th August, 2014; 12th November, 2014; 24th February, 2015 and 12th March, 2015. The maximum interval between any two meetings was not more than 4 months.

(b) Information supplied to the Board:

The Board of Directors has complete access to any information within the Company. At the Board Meetings, directors are provided with all relevant information on important matters, working of the Company as well as all related details that require deliberations by the members of the Board.

Information regularly provided to the Board inter-alia include:

- Annual operating plans, budgets & updates;

- Expansion/capital expenditure plans & updates;

- Production, sales & financial performance data;

- Business-wise operational review;

- Quarterly and annual financial results with segment-wise information;

- Minutes of the meetings of the Audit and other Committees as well as circular resolutions passed;

- Significant initiatives and developments relating to labour/human resource relation and/or problems and their proposed solutions;

- Information on recruitment and remuneration of senior officers just below the Board level, including appointment or removal of Chief Financial Officer and Company Secretary;

- Materially important show cause/demand/prosecution/penalty notices and legal proceedings by or against the Company;

- Fatal or serious accidents or dangerous occurrences;

- Any issue which involves public or product liability claims of substantial nature;

- Materially significant effluent or pollution problems;

- Material default in financial obligations to and by the Company or substantial non-payment for goods sold by the Company;

- Non-compliances of any regulatory or statutory provision or listing requirement on non-payment of dividend or delay in share transfers;

- Compliance reports of all laws applicable to the Company;

- Details of any joint-venture or collaboration agreement;

- Transactions that involve substantial payment towards goodwill, brand equity or intellectual property;

- Proposals for investments, divestments, loans, guarantees, mergers and acquisitions;

- Sale of material nature of investments, subsidiaries and assets which is not in the normal course of business;

- Quarterly details of foreign exchange exposure and the steps taken by the management to limit the risk of adverse exchange rate movement;

- Any other information which is relevant for decision-making by the Board.

(c) Induction & Familiarization Programs for Independent Directors:

On appointment, the concerned Director is issued a letter of Appointment setting out in detail, the terms of appointment, duties and responsibilities. Each newly appointed Independent Director is taken through a familiarization programme. The program aims to familiarize the Directors with the Company, their role and responsibilities, business model of the Company etc.

(d) Performance Evaluation:

In compliance with the provisions of the Companies Act, 2013 ('the Act') and Clause 49 of the Listing Agreement, the Board during the year adopted a formal mechanism for evaluation of its performances as well as that of its committees and individual Directors, including the Chairman of the Board. A structured questionnaire was prepared after taking into consideration inputs received from the Directors, covering various aspects of the Board's functioning such as adequacy of the composition of the Board and its Committees, Board culture, execution and performance of specific duties, obligations and governance.

A separate exercise was carried out to evaluate the performance of individual Directors including the Chairman of the Board, who were evaluated on parameters such as level of engagement and contribution, independence of judgement, safeguarding the interest of the Company and its minority shareholders, etc. The performance evaluation of the Independent Directors was carried out by the entire Board. The performance evaluation of the Chairman and the Non-Independent Directors was carried out by the Independent Directors. The Directors expressed their satisfaction with the evaluation process.

(e) Independent Directors' Meeting:

In compliance with Section 149(8) of the Act read along with Schedule IV of the Act and Clause 49 (II)(B)(6) of the listing agreement with the stock exchange, the Independent Directors met on March 12, 2015, inter alia, to discuss:

(a) Evaluation of the performance of non- Independent Directors and the Board as a whole;

(b) Evaluation of the performance of the Chairperson of the company, taking into account the views of executive directors and non-executive directors;

(c) Evaluation of the quality, quantity and timeliness of flow of information between the company management and the Board that is necessary for the Board to effectively and reasonably perform their duties.

All the Independent Directors were present at the meeting.

(f) Code of Conduct:

The Board of Directors of the Company have adopted Code of Business Conduct & Ethics. This Code is based on three fundamental principles, viz. good corporate governance, good corporate citizenship and exemplary conduct and is applicable to all the Directors and senior management personnel.

In terms of the requirements of Clause 49 of the Listing Agreement, the Code of Business Conduct & Ethics, as approved by the Board of Directors, has been displayed at the website of the company, www.amritcorp.com , under the heading 'Investors Relations'. All the members of the Board and senior management personnel have affirmed compliance with the Code for the year ended 31st March, 2015 and a declaration to that effect signed by the Chairman & Managing Director is attached and forms part of this report.

(g) Code of Conduct for Prevention of Insider Trading:

The Company has a Code of Conduct for Prevention of Insider Trading in the shares and securities of the Company. This Code, interalia, prohibits purchase/sale of shares of the Company by Directors and employees while in possession of unpublished price sensitive information in relation to the Company. This Code is available on the Company's website, www.amritcorp.com

(h) Declaration regarding compliance of Code of Conduct:

All the Board Members and senior management personnel of the Company have affirmed compliance of the Code of Conduct for the year ended 31st March, 2015. A declaration to that effect signed by the Chairman & Managing Director is attached and forms part of the Annual Report of the Company.

3. Committees of the Board

With a view to have more focused attention on various facets of business and for better accountability, the Board has constituted various mandatory and other Committees from time to time. The terms of reference of these Committees are determined by the Board and their relevance reviewed from time to time. The minutes of the Committee meetings are circulated to all Directors individually and tabled at the Board meetings.

(a) Audit Committee:

The Audit Committee was constituted on 29th July, 1995 and has since been in position since then. The scope and the terms of reference for the working of the Audit Committee is constantly reviewed and changes made from time to time to ensure effectiveness of the Committee. The constitution and terms of reference of the Audit Committee conform to the requirements of Clause 49 of the listing agreement. Presently, the following functions are performed by the Audit Committee:

> Overseeing the company's financial reporting process and the disclosure of financial information to ensure that the financial statements are correct, sufficient and credible;

> Recommending to the Board, the appointment, re-appointment and, if required, the replacement or removal of the statutory & internal auditors, fixing audit fees and approving payments for any other service;

> Reviewing with management the annual financial statements before submission to the Board;

> Reviewing with the management Quarterly/Annual and other financial statements before submission to the Board for approval;

> Reviewing with the management the performance of statutory and internal auditors, the adequacy of internal control systems and recommending improvements to the management;

> Reviewing the adequacy of internal audit function;

> Discussing with internal auditors of any significant findings and follow-up thereon;

> Reviewing the findings of any internal investigation by the internal auditors into matters where there is a suspected fraud or irregularity or a failure of the internal control systems of a material nature and reporting the matter to the Board;

> Discussing with the statutory auditors before the audit commences on the nature and scope of audit as well as have post-audit discussions to ascertain any area of concern;

> Reviewing reports furnished by statutory & internal auditors and ensuring follow-up thereon;

> Reviewing the Company's financial and risk management policies; and

> Initiating investigations into the reasons for substantial defaults in the payments to the depositors, debenture holders, shareholders (in case of non-payment of declared dividends) and creditors, if any.

The Committee also reviews the Management Discussion and Analysis of the financial condition and results of operations, statements of significant related party transactions and any other matter which may be a part of its terms of reference or referred to by the Board of Directors.

The Company continues to derive immense benefit from the deliberations of the Audit Committee. The Audit Committee of the Company as on 31st March, 2015 comprised of the following four directors of the Company - three non-executive & independent and one executive & non-independent:

Shri G. N. Mehra was the Chairman of the Audit Committee upto 27th May, 2014 and Shri K R Ramamoorthy became the Chairman consequent to reconstitution of Committee in Board Meeting w.e.f 27.05.2014. Shri Sujal A. Shah appointed as member of the Audit Committee w.e.f. 24th February, 2015.

The Managing Director, Executive Director and other senior executives (when required) are invited to the meetings. Representatives of the statutory auditors and internal auditors are also invited to the meetings, when required. All the meetings are attended by the statutory auditors.

The Company Secretary acts as the Secretary of the Committee.

All the members of the Audit Committee were present at the last AGM held on 12th August, 2014.

All the recommendations of the Audit Committee during the year were accepted by the Board of Directors.

Whistle Blower Policy

The Company has been formulated Whistle Blower Policy to establish a Vigil Mechanism for directors and employees of the Company.

This Policy covers malpractices and events which have taken place, suspected to have taken place, misuse or abuse of authority, fraud or suspected fraud, violation of company rules, manipulations, negligence causing danger to public health and safety, misappropriation of monies and other matters or activity on account of which the interest of the Company is affected and formally reported by whistle blowers. This Policy is intended to encourage and enable employees to raise serious concerns within the Company prior to seeking resolution outside the company.

The purpose and objective of this Policy is to provide a framework to promote responsible and secure whistle blowing. It protects the employees wishing to raise a concern about serious irregularities within the Company. The Company encourages its directors and employees who have genuine concern about suspected misconduct to come forward and express these concerns without fear of punishment or unfair treatment. A vigil (Whistle Blower) mechanism provides a channel to the employees and directors to report to the management concerns about unethical behaviour, actual or suspected fraud or violation of the Code of Conduct or policy. The mechanism provides for adequate safeguards against victimization of employees and directors to avail of the mechanism and also provide for direct access to the Chairperson of the Audit Committee in exceptional cases.

This policy, however, neither releases employees from their duty of confidentiality in the course of their work nor can it be used as a route for raising malicious or unfounded allegations against people in authority and/ or colleagues in general. It is affirmed that no personnel has been denied access to the Audit Committee.

The Whistle Blower Policy of the Company has been uploaded and can be viewed on the Company's website www.amritcorp.com .

(b) Stakeholders Relationship Committee - (Earlier known as Shareholders/Investors' Grievance Committee):

In compliance with the provisions of Section 178 of the Act and the Listing Agreement, the Board has renamed the existing Shareholders/Investors Grievance Committee as "Stakeholders Relationship Committee". This Committee ensures speedy disposal of all grievances/complaints relating to shareholders/investors. The terms of reference of the Committee include the following:

- To specifically look into complaints received from the shareholders of the Company;

- To oversee the performance of the Registrar and Transfer Agent of the Company;

- To recommend measures for overall improvement in the quality of services to the investors;

During the financial year 2014-15, the Stakeholders Relationship Committee met once on 24th February, 2015. The meeting was attended by all the members of the Committee.

Shri P. K. Das, Company Secretary, is the Compliance Officer of the Company.

As on 31st March, 2014, no complaints and/or requests for dematerialization were pending. During the year 2014-15, the Company received 4 shareholders' complaints which were replied/resolved to the satisfaction of the investors and no complaints and/or requests for dematerialization were pending as on 31st March, 2015.

All valid requests for share transfers received during the year 2014-15 have been acted upon by the Company and no transfer is pending.

(c) Nomination and Remuneration Committee:

In compliance with Section 178 of the Act read along with the applicable Rules thereto and Clause 49 under the Listing Agreement, the Board has renamed the existing "Remuneration Committee" as "Nomination and Remuneration Committee" and reconstituted the same consisting of four Non­Executive Directors with three members, including Chairman, as Independent Directors.

The objective of this Policy is to lay down a framework and set standards in relation to nomination, remuneration and evaluation of Directors, Key Managerial Personnel (KMP) and such other senior management personnel as may be prescribed so as to achieve a balance of merit, experience and skills in the organization.

The terms of reference of the Committee inter alia, include the following:

a) To guide the Board in relation to appointment and removal of Directors, Key Managerial Personnel and senior management personnel;

b) To evaluate the performance of the members of the Board as well as Key Managerial Personnel and senior management personnel and to provide rewards linked directly to their efforts, performance, dedication and achievement relating to Company's operations;

c) To recommend to the Board on remuneration payable to the Directors, Key Managerial Personnel and senior management personnel;

d) Assessing the independence of Independent Directors;

e) To make recommendation 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 the Managing/Whole-Time Directors, subject to the provision of law and their service contract;

f) To retain, motivate and promote talent and to ensure long term sustainability of talented management personnel and create competitive advantage;

g) To devise a policy on Board diversity;

h) To develop a succession plan for the Board and to regularly review the plan.

During the financial year 2014-15, the Nomination & Remuneration Committee met twice (2), on 05th January, 2015 and 12th March 2015. The attendance of the members of the Committee was as follows:

Appointment & Remuneration Policy:

A. Policy for appointment and removal of directors, KMP and senior management personnel

(i) Appointment Criteria and Qualifications

a) The Committee shall identify and ascertain the integrity, qualification, expertise and experience of the person for appointment as director, KMP or senior management personnel and recommend to the Board his/her appointment.

b) A person should possess adequate qualifications, expertise and experience for the position he/she is considered for appointment. The Committee has discretion to decide whether qualifications, expertise and experience possessed by a person is sufficient/ satisfactory for the concerned position.

c) The Company shall not appoint or continue the employment of any person as Managing/ Whole-time Director who has attained the age of seventy years, provided that the term of the person holding this position may be extended beyond the age of seventy years with the approval of the shareholders by passing a special resolution based on the explanatory statement annexed to the notice for such motion indicating the justification for extension of appointment beyond seventy years.

(ii) Term/Tenure

a) Managing Director/Whole-time Director

The Company shall appoint or re-appoint any person as its Executive Chairman, Managing Director 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.

b) 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 of upto a maximum of five years each, but such Independent Director shall be eligible for appointment after expiry of three years of ceasing to become an Independent Director, provided that the 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.

- At the time of appointment of Independent Director, it should be ensured that number of Boards on which such Independent Director serves is restricted to seven listed companies as an Independent Director and three listed companies as an Independent Director in case such person is serving as a Whole-time Director of a listed company or such other number as may be prescribed under the Act.

(iii) Evaluation

The Committee shall carry out evaluation of performance of every Director, Key Managerial Personnel and senior management personnel at regular intervals.

(iv) Removal

Due to reasons for any disqualification mentioned in the Act or under any other applicable Act, Rules & Regulations thereunder, the Committee may recommend to the Board with reasons recorded in writing, removal of a Director, Key Managerial Personnel or senior management personnel subject to the provisions and compliance of the said Act, Rules & Regulations.

(v) Retirement

The Directors, KMP and senior management personnel shall retire as per the applicable provisions of the Act and the prevailing policy of the Company. The Board will have the discretion to retain the Director, KMP and senior management personnel in the same position/remuneration or otherwise even after attaining the retirement age, for the benefit of the Company.

B. Policy for remuneration to directors, KMP and senior management personnel

(i) Remuneration to Managing/Whole-time Directors, KMP and senior management personnel

The remuneration/ compensation/ commission etc. to be paid to Managing/Whole-time Directors 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.

(ii) Remuneration to Non-Executive/ Independent Director

The non-executive Independent /Non-Independent Director may receive remuneration/ compensation/ commission as per the provisions of the Act. The amount of sitting fees shall be subject to ceiling/limits as provided under the Act and Rules made thereunder or any other enactment for the time being in force.

The Nomination & Remuneration Policy of the Company has been uploaded and can be viewed on the Company's website www.amritcorp.com .

(d) Corporate Social Responsibility (CSR) Committee:

The Company has constituted a Corporate Social Responsibility (CSR) Committee as required under Section 135 of the Act. The terms of reference of the CSR Committee broadly are as under:

- To frame the CSR Policy and its review from time to time;

- To ensure effective implementation and monitoring of the CSR activities as per approved policy, plans and budget;

- To ensure compliance with the laws, rules and regulations governing CSR and to periodically report to the Board of Directors;

During the financial year 2014-15, the CSR Committee met twice (2), on 12th November, 2014 and 12th March, 2015. The CSR Committee comprised of the following directors of the Company and the attendance of the members as under:

The CSR Policy of the Company has been uploaded and can be viewed on Company's website www.amritcorp.com .

(e) Risk Management Committee:

The revised Clause 49 of the Listing Agreement mandates constitution of the Risk Management Committee. The Company has a risk management programme which comprises of a series of processes, structures and guidelines to assist the Company to identify, assess, monitor and manage its business risks, including any material changes to its risk profile.

The objective and scope of the Risk Management Committee broadly comprises:

- Oversight of the risk management performed by the executive management;

- Review of the risk management policy in line with legal requirements and SEBI guidelines;

- Reviewing risks and initiating mitigation actions;

- Defining framework for identification, assessment, monitoring, mitigation and reporting of risks.

During the financial year 2014-15, the Risk Management Committee met once on 12th March, 2015. The Risk Management Committee comprised of the following directors of the Company and the attendance of the members as under:

4. Disclosures

(i) There were no transactions of material nature with the directors or the management or their subsidiaries or relatives etc. during the year that had potential conflict with the interests of the Company at large. The details of related party transactions have been reported in the Notes to Accounts.

(ii) The financial statements have been prepared in compliance with the requirements of the Companies Act, 2013 and in conformity, in all material respects, with the generally accepted accounting principles

and standards in India. The estimates/judgments made in preparation of these financial statement are consistent, reasonable and on prudent basis so as to reflect true and fair view of the state of affairs and results/operations of the Company.

(iii) The Company has formulated Whistle Blower Policy to establish a Vigil Mechanism for directors and employees of the Company and the details are provided in point no. 3 (a) of this report.

(iv) The Company has well-defined Risk Management Policies for each of the businesses, duly approved by the Board, which are periodically reviewed to ensure that the executive management controls risk by means of a properly defined framework.

(v) The Company has not raised any funds from the capital market (public/rights/preferential issues etc.) during the financial year under review.

(vi) Disclosure under Clause 5AII of the Listing Agreement in respect of unclaimed shares:

The voting rights on the shares outstanding in the suspense account as on March 31, 2015 shall remain frozen till the rightful owner of such shares claims the shares.

Wherever the shareholders have claimed the shares, after proper verification, the share certificates were dispatched to them or credited the shares to the respective beneficiary account.

(vii) There was no instance of non-compliance of any matter relating to the capital markets by the Company. No penalties or strictures have been imposed on the Company by the stock exchange, SEBI or any other statutory authorities on any matter relating to the capital market during the last three years.

(viii) The details of the equity shares of the Company held by the Directors as on 31st March, 2015 are as under:

Shri N. K. Bajaj - 57,834 shares; Shri A. K. Bajaj - 1,61,425 shares; Shri V. K. Bajaj - 1,99,875 shares; Shri G. N. Mehra - 2,375 shares; Shri K. R. Ramamoorthy - 500 shares; Shri Mohit Satyanand - 500 shares; and Shri Sundeep Aggarwal - 500 shares.

(ix) The Company is complying with all mandatory requirements of Clause 49 of the listing agreement.

5. Means of communication

The Quarterly, Half Yearly and Annual Results are communicated to the BSE Limited, where the Company's shares are listed as soon as they are approved and taken on record by the Board of

Directors of the Company. Further, the quarterly and half-yearly results are published in leading newspapers such as 'Financial Express' (English) and 'Jansatta' (Hindi). The results are not sent individually to the shareholders. The financial results are also displayed on the web-site of the Company at www.amritcorp.com .

Pursuant to circular no. CIR/CFD/DIL/10/2010 dated 16th December, 2010 issued by Securities & Exchange Board of India (SEBI), the Company has maintained website namely www.amritcorp.com  providing the basic information about the Company such as details of our business, financial information, shareholding pattern, compliance with corporate governance, contact information of the designated officials of the Company who are responsible for assisting and handling investor grievances, etc. The information provided on the website is being updated regularly.

The Company has an Investor Grievance Cell in the Share Department to redress the grievances/ queries of the shareholders. In order to redress shareholders' queries and grievances, the Company has a separate e-mail ID info@amritcorp.com .

The Management Discussion and Analysis Report forms part of the Directors' Report.

6. Auditors' Certificate on Corporate Governance

A certificate has been obtained from the Auditors of the Company regarding compliance with the provisions relating to Corporate Governance laid-down in Clause 49 of the Listing Agreement with the stock exchange. The same is annexed to this report.

7. CEO/CFO Certification

The CMD & CEO and the CFO have issued certificate pursuant to the provisions of Clause 49 of the listing agreement certifying that the financial statements do not contain any untrue statements and these statements represent a true and fair view of the Companys' affair. The said certificate is annexed and forms part of the Annual Report.

GENERAL SHAREHOLDERS INFORMATION

• Annual General Meeting:

Date :7th July, 2015

Time :11.00 a.m.

Venue: Chaudhary Bhawan, 'E' Block (near Jain Mandir), Kavi Nagar, Ghaziabad-201 002 (U.P.)

Financial Calendar 2015-16 (Tentative): Board Meetings to take on record

Financial results for Quarter ended 30.06.2015 :First week of August, 2015

Financial results for Quarter ended 30.09.2015 :First week of November, 2015

Financial results for Quarter ended 31.12.2015 :First week of February, 2016

Financial results for Quarter/year ended 31.03.2016 :Last week of May, 2016

Book Closure Date

1st July, 2015 to 7th July, 2015 (both

• Dividend payment date:

Dividend, if any, declared in the next AGM will be paid on or after 7th July, 2015 but before the statutory time limit of 30 days from the date of declaration.

• Listing:

Name & address of stock exchange BSE Limited

Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

The Company has already paid annual listing fee for the year 2015-16 to the stock exchange.

• Stock Code:

¦ BSE Limited, Mumbai : 507525

¦ Demat ISIN in NSDL and CDSL for equity shares : INE866E01026

Share Transfer Agents

t Registrar:

The Company has appointed M/s MAS Services Ltd., New Delhi as the Registrar & Share Transfer Agents for handling both physical share registry work and demat share registry work having their office at:

Mas Services Limited

T-34, 2nd Floor, Okhla Industrial Area, Phase - II, New Delhi - 110 020

Ph:- 011-26387281/82/83 Fax:- 011-26387384

email: info@masserv.com  website: www.masserv.com  

Share Transfer System:

The transfers are normally processed within a period of 15 days from the date of receipt if the documents are complete in all respects. Requests for dematerialization of shares are processed and confirmation is given to the respective depositories i.e. NSDL and CDSL within 15 days. The connectivity with NSDL & CDSL is maintained through M/s MAS Services Ltd. The Shareholders have the option to open account with any of the depository participants registered with CDSL and NSDL. In the case of off-market/private transactions involving transfer of shares in physical form, SEBI has made mandatory for the transferee(s) to furnish copy of PAN card to the company/RTA. The shareholders/investors are advised to comply with the same while filing transfer documents with the company/RTA.

Dematerialization of Shares:

The Company has entered into an agreement with National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Limited (CDSL) to offer depository services to the shareholders. As on March 31, 2015, 30,90,136 equity shares equivalent to 96.17% of the shares of the Company have been dematerialized. All the shares held by the promoters of the Company are in dematerialized form.

• Reconciliation of Share Capital Audit:

A qualified practicing Company Secretary carried out a reconciliation of Share Capital Audit to reconcile the total admitted capital with National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) and the total issued and listed capital. The Share Capital Audit Report confirms that the total issued / paid up capital is in agreement with the total number of shares in physical form and the total number of dematerialized shares held with NSDL and CDSL.

• Outstanding GDRs/ADRs/Warrants etc.:

Not Applicable

• Plant Location: Amrit Food

Amrit Nagar, G. T. Road, Ghaziabad - 201 009 (U.P.)

• Address for correspondence:

(a) Regd. Office: Amrit Corp. Limited,

CM/28 (First Floor), Gagan Enclave, Amrit Nagar, G.T. Road, Ghaziabad - 201 009 (U.P.)

Tel.No.0120-2866880/2866886, Fax No.0120-2866888 Email : info@amritcorp.com , amritcmd@vsnl.net  Website: www.amritcorp.com  

(b) Corporate Office:

A-95, Sector - 65, Noida - 201 309 (U.P) Tel: 0120 - 4506900, Fax: 0120 - 4506910

E-mail address: info@amritcorp.com  

(c) Registrar & Share Transfer Agent: MAS Services Limited

T-34, 2nd Floor, Okhla Industrial Area, Phase - II, New Delhi - 110 020 Ph:- 011-26387281/82/83 Fax:- 011-26387384 email:- info@masserv.com  Website: www.masserv.com

Shareholders holding shares in electronic mode should address all their correspondence to their respective Depository Participants,