Annual Report: 2022
Bharat Nidhi Limited 79th Annual Report Summary:
Overview: This document is the 79th Annual Report of Bharat Nidhi Limited for the financial year 2021-22. It includes the notice for the Annual General Meeting (AGM), Director's Report, Auditor's Report, and the standalone and consolidated financial statements.
Notice of 79th Annual General Meeting: The AGM was held on September 27, 2022, via video conferencing. The Ordinary Businesses included adopting the audited financial statements for FY 2021-22 and declaring a dividend on equity shares. Mr. Nityanand Singh, retiring by rotation, offered himself for reappointment. M/s. A.K. Gutgutia & Co. were re-appointed as Statutory Auditors for another five years (until the 84th AGM). For Special Business, Mr. Bhagat Ram Goyal was re-appointed as a Non-Executive Non-Independent Director, and Mr. Bhagavatula Chintamani Rao was re-designated as a Non-Executive Non-Independent Director. The company provided remote e-voting facilities to its members through Central Depository Services (India) Limited (CDSL). The Register of Members and Share Transfer Register remained closed from September 21, 2022, to September 27, 2022, for dividend payment. Dividend income is taxable to shareholders. Unclaimed dividends up to March 31, 2014, had already been transferred to the Investor Education & Protection Fund (IEPF). The unclaimed dividend for the financial year ended March 31, 2015, was due for transfer to IEPF by November 5, 2022. Shareholders can avail of the Nomination Facility.
Directors’ Report: Bharat Nidhi Limited is engaged in the distribution of newspapers in Delhi & NCR and invests surplus funds in debt-based mutual funds, bank deposits, and other avenues. Key Financial Results (in Lakhs):
Board and Committees: The Board composition included Mr. Bhagat Ram Goyal, Mr. Bhagavatula Chintamani Rao, and Mr. Nityanand Singh. Mr. Piyush Garg was appointed as the Chief Financial Officer (CFO). The board had three committees: the Audit Committee, the Stakeholders Relationship Committee, and the Corporate Social Responsibility Committee.
Corporate Social Responsibility (CSR): The Company made a CSR contribution of Rs. 65.65 Lacs to Bennett University.
Related Party Transactions: All related party transactions were at arm's length. Details of related party transactions have been provided in Form AOC-2.
Significant Orders: The company received three Show Cause Notices (SCNs) from SEBI for non-compliances, and settlement applications are pending.
Directors' Responsibility Statement: The directors confirmed adherence to accounting standards, prudent judgments, maintained adequate accounting records, and prepared the accounts on a going concern basis.
Other Points:
Auditor’s Report: The auditor, A.K. Gutgutia & Co., provided an unmodified opinion on the standalone and consolidated financial statements. The auditor drew attention to the pending SEBI SCNs. The auditor also reported on internal financial controls.
Statutory Auditor: M/s A.K. Gutgutia & Co. were recommended for reappointment as Statutory Auditors for another five years to hold office from the conclusion of this AGM till the conclusion of 84th AGM to be held in the year 2027.
Access essential information and documents to make informed investment decisions
Stay updated with upcoming events, conferences, and announcements
Access quarterly and half-yearly financial statements and reports
Download comprehensive annual reports and financial summaries
Access investor presentations, corporate briefings, and slideshows
Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.
Unlisted shares are stocks of companies that are not listed on any stock exchange, meaning they are not publicly traded. These shares are typically available for trade in the private market through brokers, and can offer unique investment opportunities.
You can buy unlisted shares through a broker or platform that specializes in unlisted share transactions. We provide a secure and easy way to purchase unlisted shares from top companies, ensuring a smooth transaction process.
The share prices of unlisted companies can fluctuate based on various factors like market demand, company performance, and private transactions. You can check the latest share prices for unlisted companies on our website for real-time updates.
Unlisted shares can offer higher growth potential, as they are typically not subject to the same market volatility as listed shares. However, they come with higher risk due to limited liquidity and availability of information. It's important to research thoroughly and consult experts before investing.
To sell unlisted shares, you can connect with a broker or platform that facilitates the sale of private stocks. We help investors buy and sell unlisted shares with ease, ensuring that your transaction is handled professionally and securely.
Yes, unlisted shares can eventually be listed on a stock exchange through an Initial Public Offering (IPO). This process allows the company to offer its shares publicly and be traded on major exchanges, potentially increasing liquidity and visibility.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
The value of unlisted shares is typically determined by private transactions, financial reports, and market demand. We provide the latest updates on share prices of unlisted companies, giving you the most accurate valuation available.
The minimum investment for unlisted shares can vary depending on the company and broker. Generally, the minimum investment is higher than for listed stocks, but we provide detailed information to help you make the best investment decisions.
Yes, unlisted shares may pay dividends if the company has declared them. However, since these companies may be in their growth stage, dividend payments are not always guaranteed. It's important to check the company's financial health before investing.
It's important to conduct thorough research on the company's financials, management, market potential, and overall business model. You can also seek professional advice from experts to help you choose unlisted shares with strong growth prospects.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
