30 Apr 2017 | Livemint.com

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Parasrampuria Synthetics Ltd. Accounting Policy

CORPORATE GOVERNANCE REPORT

As required by the clause 49 of the Listing Agreement of the Stock Exchange, a report on "Corporate Governance" is as under:

1. Board of Director

a) During the current year the Board of Directors of the Company consists of 6 Directors including 3 Promoter Directors, 1 Independent Director.and 2 Non Executive Directors.

b) The Dates of Board Meetings held during 1st April, 2014 to 31st March, 2015 are as under: 31st May, 2014 ,14th August, 2014, 15th November, 2014 & 14th February, 2015.

2. Audit Committee

The Audit Committee had its Four meetings on 31st May, 2014, 14th August, 2014, 15th November, 2014,14th February, 2015.

3. Remuneration Committee

The Remuneration Committee of the Board comprises of following members:

1. Shri Alok Parasrampuria Managing Director

2. Shri Sushil Anand Independent Director

The Company has not paid managerial remuneration to any Director except sitting fee at the rate of Rs.2000/-for attending each meeting of Board of Director and any Committee thereof to independent Directors.

4. Shareholders Grievance Committee

The Shareholders Grievance Committee of the Board comprises of following members:

1. Shri Alok Parasrampuria Managing Director

2. Shri Sushil Anand Independent Director

The Company maintains a fully computerized Secretarial Department, which looks after the redressal of Shareholders Grievances through active support from its' Registrar:

M/S Skyline Financial Services Pvt. Ltd.

D-153 A/lst Floor, Okhla Indl. Area, Phase-I, New Delhi-110020

During the year the Company received nil complaint was received through the office of registrar however the company received 5 complaints through SCORE and all were duly replied to the satisfaction of the investor and SEBI.

5. Means of Communications

As required under the Listing Agreement of Stock Exchange the Company provides Copy of the financial results to Stock Exchanges.

6. Disclosures

a) The Directors regularly make full disclosure to the Board regarding nature of their interest in the companies in which they are directors or members. Full particulars of contracts or transactions, in which directors are directly or indirectly concerned or interested are entered in the register of contract being maintained by the Company u/s 189(1) of the Companies Act, 2013 and the same is placed before the Board at every meeting.

b) There is no materially significant pecuniary or business transaction of the Company with its Promoters, Directors or relatives etc, except as stated above, that may have potential conflict with the interest of the company at large.

c) The Company is a sick industrial unit and in compliance with the Sick Industrial Companies (Special Provision) Act, 1985 have got its reference registered with the Hon'ble BIFR.

d) There have not been any instances of penalties imposed on the Company on any matter relating to capital markets during the last three years. However, the Delhi Stock Exchange is holding back security Deposit of Rs.17.45 lacs, which was deposited by the Company against the Right Issue of 1996, on account of non-payment of debenture interest and redemption amount.

7. General Information for Shareholders

1. Annual General Meeting

Date (Day) „ Wednesday, 30th September, 2015

Time :10.30 A.M.

Venue SP-145, D-l, RIICO Industrial area, Bhiwadi, Dist. Alwar, Rajasthan. Pin - 301019.

2. Book Closure

24th September, 2015 to 30th September, 2015 (both Days inclusive)

3. Address for Investors'

SP-145, D-l, RIICO lnd-jst.iai area, Bhiwadi, Dist. Alwar,

Correspondence/Share Transfer

Rajasthan-301019 OR Registrar and Share Transfer Agent. M/sSkyline Financial Services P. Ltd. D-153 A/lst Floor, Okhla Indl. Area, Phase-I, New Delhi - 110020.

4. Listing of shares

The shares and other securities of the Company are listed at the Delhi Stock Exchange, Jaipur Stock Exchange and Mumbai Stock Exchange.

5. Dematerialisation of Shares There has not been any transaction in the shares of the Company during the last Four years at any Stock Exchange. The Company also did not receive any request from any shareholder to show their intention to hold the shares in Dematerlised form. Therefore, the Company had not gone ahead with the dematerialisation process.

6. Registered Office

SP-145, D-l, RIICO Industrial Area, Bhiwadi, Dist. Alwar, Rajasthan-301019.

7. Delhi Office

A-43 LGF Panchsheel Vihar New Delhi -110 017.

8. Plant

SP-145, D-l, RIICO Industrial Area, Bhiwadi, Dist. Alwar, Rajasthan-301019.

Plot No.423-432, Sector-Ill, Pithampur, Distt. Dhar(M.P)

15. Recommendations (Non-Mandatory) of SEBI

The company has not adopted Non-Mandatory requirements.

16. Certificate from CEO/CFO

Certificate from the Managing Director of the company in terms of clause 49 (v) of the Listing Agreement with the Stock Exchange for the financial year ended 31/03/2015 was placed before the Board in their meeting held on 14th August, 2015.

For and on behalf of the Board

Alok Parasrampuria

Chairman

Place : New Delhi

Date : 14th August, 2015