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Camac Commercial Company Limited Unlisted Shares

Annual Report: 2022

Year: 2022

Annual Report Summary

The following is a detailed summary of the 42nd Annual Report for the financial year 2021-22 of Camac Commercial Company Limited.

I. Company Overview and AGM Details: The 42nd Annual General Meeting (AGM) of Camac Commercial Company Limited will be held on September 30, 2022, at 10:15 A.M. IST via Video Conferencing (VC). Physical attendance is not required. The notice details procedures for participating in the AGM through VC and e-voting, including registration deadlines, contact information for technical support, and requirements for institutional shareholders. The Company Secretary is Ms. Shakshi Mishra. The corporate identification number (CIN) is L70109DL1980PLC169318. The registered office is located in New Delhi.

II. Ordinary Business at the AGM: The meeting will address the following:

  • Adoption of audited financial statements (standalone and consolidated) for the year ended March 31, 2022, along with the Board's and Auditors' reports.
  • Appointment of a director in place of Ms. Swati Srivastava, who is retiring by rotation and is eligible for re-appointment.
  • Appointment of Statutory Auditor: M/s. S. R. Goyal & Co. (Firm Registration No:001537C) is proposed as Statutory Auditors to hold office from the conclusion of 42nd AGM till the conclusion of the 45th Annual General Meeting. Their proposed fees is Rs. 47,000/- plus applicable taxes. The audit committee has also recommended this appointment.

III. Financial Performance and Results: The report presents the standalone and consolidated financial results for the year ended March 31, 2022, prepared in accordance with Indian Accounting Standards (Ind AS).

  • Standalone Results:
    • Total Income: ₹ 637.07 Lakhs (previous year: ₹ 428.14 Lakhs).
    • Total Expenditure: ₹ 81.19 Lakhs (previous year: ₹ 85.13 Lakhs).
    • Profit after Tax: ₹ 464.77 Lakhs (previous year: ₹ 286.98 Lakhs).
  • Consolidated Results:
    • Total Income: ₹ 637.07 Lakhs (previous year: ₹ 428.14 Lakhs).
    • Total Expenditure: ₹ 81.19 Lakhs (previous year: ₹ 85.13 Lakhs).
    • Profit after Tax: ₹ 770.07 Lakhs (previous year: ₹ 453.45 Lakhs). 305.30 Lakhs of the ₹ 770.07 Lakhs consolidated profit relates to the Associates Companies.
  • The company has not carried on any business activity during the year, and the funds are invested in debt/equity mutual funds, corporate deposits of top-rated NBFCs, government bonds, and equity shares of listed and non-listed companies.
  • No dividend is recommended for the financial year 2021-2022.
  • ₹ 92.95 Lakhs is carried to the special reserve pursuant to Section 45-IC of the Reserve Bank of India Act, 1934.

IV. Directors and Key Managerial Personnel:

  • The Board comprises three directors: two independent and one non-executive.
  • Ms. Swati Srivastava retires by rotation and offers herself for re-appointment.
  • Ms. Surabhi Srivastava resigned as Company Secretary cum Compliance Officer effective February 08, 2022, and Ms. Shakshi Mishra was appointed in her place.
  • Mr. Sanjay Kumar (Chief Financial Officer) and Mr. Sunil Singh (Manager) continue as Key Managerial Personnel.
  • The directors' shareholding are: as on March 31, 2022, Ms. Monisha Saraf holds 100 shares, whereas Mr. Abhinav Srivastava and Ms. Swati Srivastava don't hold any shares in the Company.

V. Committees of the Board: The Board has constituted an Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee. Details of their constitution and meetings are provided.

VI. Auditors:

  • M/s K.N. Gutgutia & Co., Chartered Accountants, were the statutory auditors. M/s S.R. Goyal & Co. is being proposed to replace them, subject to shareholder approval.
  • The auditor's report does not contain any qualifications, reservations, or adverse remarks.
  • M/s. Balraj Sharma & Associates is the secretarial auditor. The secretarial audit report does not contain any qualification, reservation, or adverse remark.
  • M/s Nidhi S Gupta, Chartered Accountants, perform the duties of internal auditors.

VII. Other Key Highlights:

  • The company's CSR obligation for the year 2021-22 was ₹ 9.98 Lakhs, contributed to the Times Foundation.
  • A Vigil Mechanism / Whistle Blower Policy is in place.
  • The Company complies with corporate governance requirements as per SEBI regulations.
  • The Company is listed on the Calcutta Stock Exchange (CSE) and has paid its listing fees. The Company has diligently complied with the applicable provisions of the listing regulations with the exchange.
  • The Company is registered as a Systemically Important-Non deposit taking Non-Banking Financial Company with the Reserve Bank of India.
  • The Company has Registrar and Transfer Agent (RTA) and details of how to communicate with the RTA or the Company are provided.

VIII. Notes to Financial Statements:

The annual report includes detailed notes to the financial statements, providing information on accounting policies, financial instruments, share capital, reserves, provisions, contingent liabilities, related party disclosures, and other matters required by Ind AS. Of note are details of the company's investment portfolio and compliance with NBFC regulations. These notes contain detailed information on the various line items presented in the balance sheet and statement of profit and loss. Management has presented an assessment of these events in a "Management Discussion and Analysis" section.

IX. Auditors' Reports: The report includes the Independent Auditor's Report on both the standalone and consolidated financial statements, along with a separate report on internal financial controls. The Independent Auditor's Report on the consolidated financial statements expresses an unmodified opinion. The Key Audit Matters are addressed in the context of the Consolidated Financial Statements as a whole, and in forming an opinion. There are no Key audit matters to be communicated in this report. The Independent Auditor's Report has also addressed the compliance of the conditions of Corporate Governance

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