27 Apr 2017 | Livemint.com

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Last Updated: Aug 17, 04:01 PM
United Leasing & Industries Ltd.

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  • BSE Code: 507808
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United Leasing & Industries Ltd. Accounting Policy

CORPORATE GOVERNANCE REPORT

I. COMPANY'S PHILOSOPHY ON CODE OF GOVERNANCE:

The Company has attached significant importance to the Code of Corporate Governance. The Company's philosophy on corporate governance is to practice transparency in operations and maintain a professional approach and accountability in dealing with its shareholders. The company has always focused on maintaining highest standards in conducting its affairs ethically and lawfully and has sustained a culture of high ethical standards, integrity and professionalism. The Company strongly believes that good Corporate Governance structure encourages companies to create value that can be sustained over the long term for customers, shareholders, employees and business partners. The success of the Company lies in faithful and sincere persuasion of its core values.

The core value of the Company are :

- Manpower Development,

- Integrity, openness, fairness and trust,

- Commitment to excellence

- Customer satisfaction

- Sound and ethical business practices.

2. BOARD OF DIRECTORS

The Board of Directors of your Company comprises of Five Directors out of which, one is Managing Director & Chairman and four are Independent Director.

Board Meeting & AGM

During the year the Board of Directors of the Company met on 27th May, 2014, 19th July, 2014, 13th August, 2014, 13th November, 2014 and 12th February, 2015.

Last Annual General Meeting was held on 27th September, 2014.

AUDIT COMMITTEE:

Brief description of terms of reference

The role and the powers of the audit Committee are as per the guidelines set out in the Listing Agreement with the Stock Exchanges. The committee also acts as a link between the auditors and the Board of Directors. The Committee meets the auditors periodically and reviews the quarterly/ half-yearly and annual financial statements and discusses their findings and suggestions and seeks clarifications thereon.

The committee met four times during the year, i.e on 27th May, 2014, 13th August, 2014, 13th November, 2014 and 12th February, 2015.

NOMINATION AND REMUNERATION COMMITTEE

Composition of the Committee and category of Directors as decided by the Board of Directors.

Mr.Vipin Bali - Chaiman - Independent Director

Mr. Kapil Dutta - Member - Independent Director

Mr.V.K.Batra - Member - Independent Director

STAKEHOLDERS RELATIONSHIP COMMITTEE

Composition of the Committee and category of Directors as decided by the Board of Directors.

Mr.V.K.Batra - Chairman - Independent Director

Mr.Vipin Bali - Member - Independent Director

Mr. Kapil Dutta - Member - Independent Director

INTERNAL AUDITOR

The Board of Directors of your Company has re-appointed R.R.CA & Co., Chartered Accountants as Internal Auditors pursuant to the provision of Section 138 of the Companies Act, 2013 for the financial year 2015-16.

DISCLOSURES

i) Disclosures on materially significant related party transactions that may have potential conflict with the interests of Company at large.

There are no material transactions with any related party, which may have potential conflict with the interests of the Company at large.

ii) Details of non-compliance by the company, penalties, strictures imposed on the company by Stock Exchange or SEBI or any statutory authority, on any matter related to capital markets, during the last three years.

We have already provided copies of all reports both electronically and otherwise to the exchange. We have also put up our functional website which can be accessed at www.ulilltd.com . We hope the Bombay Stock Exchange will be given in-principal approval for revocation of suspension in trading of equity shares very soon.

Listing Agreement

The Company is complying with all mandatory requirements of the Listing Agreement of Stock Exchange on 'Corporate Governance'.

GENERAL SHAREHOLDER INFORMATION

Annual General Meeting

Date 30th September, 20l5

Time l.00 p.m.

Venue l4Kms, Gurgaon Pataudi Road, Village Jhund Sarai Veeran, Distt. Gurgaon, Haryana

Financial Calendar

Financial Year 1st April to 31st March

1st  Un-audited Quarterly Results 2 nd Week of August

2 nd Un-audited Quarterly Results 2 nd Week of November

3rd  Un-audited Quarterly Results 2 nd Week of February

Annual Audited Results &th 4th  Quarterly Result Last Week of May

Date of Book Closure

25 September 2015 to 29 September 2015 (Both days inclusive)

Dividend payment date

Not applicable due to non declaration of dividend

Listing on Stock Exchabges

 Equity shares are listed on the Stock Exchanges at Mumbai.

Registrar and Transfer Agents

Link Intime India Pvt. Ltd,

44, Community Centre, Phase-1, Near PVR,Naraina Industrial Area, New Delhi-110028.Tel. 41410592/93/94, Fax No. 41410591.

Share Transfer System

Share Transfer request can be lodged with the Registrar and Transfer Agents at the above mentioned address. Share Transfer request is registered within an average period of 15 days. A Share Transfer Committee comprising of members of the Board generally meets once in a fortnight to consider the transfer of shares.

Outstanding GDR/ ADR/ Warrants or any Convertible instruments, conversion date and likely impact on equity

The Company has not issued any GDR/ ADR/ Warrants or any convertible instruments that are pending for conversion.

Plant Locations and the Registered office of the Company

Plant Location: 14Kms, Gurgaon Pataudi Road, Village Jhund Sarai Veeran, Distt. Gurgaon, Haryana.

Registered Office:

Plot No. 66, Sector-34, EHTP, Distt. Gurgaon, Haryana.

Address for Correspondence

D-41, South Extension, Part-II,New Delhi-110049.

Tel : 011-26258237Stock Codes ISIN : INE357P01014 ,BSE Scrip Code : 507808

Website www.ulilltd.com

Investor email investorrelations@ulilltd.com

Registrar / Share Transfer Agent email delhi@linkintime.co.in  

Dematerialization of shares and liquidity

 8495 Equity shares are dematerialized by CDSL The registration of dematerialization of equity shares by NSDL is under process.