Digvijay Finlease Unlisted Shares Annual Reports

Digvijay Finlease Unlisted Shares

Digvijay Finlease Limited's (DFL) 31st Annual Report includes the Director's Report, financial statements, auditor's report, and disclosures on various aspects of the company's operations for the year ending March 31, 2023. The financial statements are prepared according to Indian Accounting Standards (Ind AS). **Financial Performance:** Total income for the year was ₹4,579.05 Lac compared to ₹5,875.58 Lac in the previous year. Profit before and after tax were ₹4,199.41 Lac and ₹3,066.57 Lac respectively, compared to ₹5,559.76 Lac and ₹3,905.82 Lac in the previous year, excluding Other Comprehensive Income. The Board has decided to retain earnings and not propose any dividend. **Share Capital:** The company has one class of shares: equity shares of par value ₹10 each. Authorized Share Capital is ₹20 Crore divided into 2 Crore equity shares of ₹10 each. The paid-up equity share capital stood at ₹1325.94 Lac as of March 31, 2023. No shares were issued during the year. **Transfer to Reserve Fund:** As per Section 45-IC of the Reserve Bank of India Act, 1934, ₹613.31 Lac is proposed for transfer to the Reserve Fund. **Regulatory Compliance:** The Company is registered as a Non-Banking Financial Company with the Reserve Bank of India. There were no significant material orders passed by regulators or courts impacting the company's going concern status. The Company didn't accept any public deposits during the year. As an NBFC, the company is exempt from complying with Section 186 of the Companies Act, 2013, regarding investments, loans, and guarantees. **Subsidiaries:** The company has no subsidiaries, joint ventures, or associate companies. **Dematerialization:** Arrangements are in place with NSDL for dematerialization of securities. The ISIN is INE01US01017. Maheshwari Datamatics Pvt. Ltd. (MDPL) is the Registrar and Transfer Agent (RTA). **Related Party Transactions:** There were no significantly material transactions with related parties except for remuneration paid to key managerial personnel, sitting fees paid to directors, and rent paid to an enterprise having significant influence over the company, all in the ordinary course of business. **Internal Financial Control:** Adequate internal financial controls are in place, commensurate with the company's size and operations. Internal auditors review the internal financial control system. **Risk Management:** The Board has adopted a risk management policy, with identified risks including Commercial, Financial, Operational, and Legal & Regulatory Risks. A Risk Management Committee comprising of Shri Ashok Bhandari (Chairman), Shri Ravi Goenka and Shri K. K. Thakur manages and mitigates these risks. **Directors and Key Managerial Personnel:** Shri Gourav Periwal retires by rotation and is eligible for re-appointment. Shri Ravi Goenka and Shri S. K. Mukherjee are Independent Directors. Shri K.K. Thakur is the Manager and CFO. **Auditors:** M/s S Jaykishan, Chartered Accountants, are the Statutory Auditors. Their performance was reviewed, and their continuation for 2023-24 was approved. M/s S Jaykishan is also appointed as Tax Auditor for Assessment Year 2023-24. M/s D. K. Parmanandka & Co., Chartered Accountants, carried out the Internal Audit for the Financial Year 2022-23. **Reporting of Frauds:** Statutory auditors reported no instances of fraud. **Number of Meetings:** Meetings of the Board and Committees are held as per statutory requirements. Five Board Meetings and one meeting of the Independent Directors were convened. **Committees:** The Board has various committees including Risk Management Committee, Audit Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee, Corporate Social Responsibility (CSR) Committee, Finance and Assets Liability Supervisory Committee (ALCO), and Investment/Credit Committee and Grievance Redressal Mechanism Committee. **Corporate Social Responsibility (CSR):** The company contributed to "SHREE FOUNDATION TRUST" for Rural Development Projects. The CSR Committee comprises Shri Sudip Kumar Mukherjee (Chairman), Shri Ravi Goenka, and Shri Gourav Periwal. CSR activities with details in the specified format as required under Companies (Corporate Social Responsibility Policy) Rules, 2014 is annexed in the Report. **Policy on Directors' Appointment and Remuneration:** The Nomination & Remuneration Committee framed a policy for the selection and appointment of Directors and Senior Management, including criteria for determining qualifications, positive attributes, and independence of directors. There is no incentive pay at present. **Sexual Harassment Policy:** The Company has a policy to prevent sexual harassment, although the Internal Committee is not applicable due to having less than 10 employees. No complaints were received during the year. **Directors’ Responsibility Statement:** The Board confirms that the financial statements are prepared in accordance with Indian Accounting Standards (Ind AS), accounting policies have been consistently applied, proper accounting records were maintained, the annual accounts were prepared on a going concern basis, and proper systems were devised to ensure compliance with all applicable laws. **Other Disclosures:** The company has disclosed the impact of pending litigations on its financial position, and there were no amounts required to be transferred to the Investor Education and Protection Fund. The management confirms that no funds have been advanced or loaned with the understanding that the intermediary shall lend or invest in other entities identified by or on behalf of the company. No dividend has been declared or paid during the year. **Auditor's Report:** The independent auditor's report states that the financial statements present a true and fair view of the company's affairs as of March 31, 2023, and comply with the Companies Act, 2013. **Annexure A to the Auditor's Report:** This annexure details observations on property, plant and equipment, inventory (not applicable), loans and advances, compliance with Sections 185 and 186 of the Companies Act, and other regulatory requirements. Title deeds for immovable properties are held in the company's name except for Freehold Land which is under procedural delay after appointed date of merger (Arham Securities). **Annexure B to the Auditor's Report:** This annexure reports on the internal financial controls over financial reporting. **Financial Statements (Balance Sheet and Statement of Profit and Loss):** Detailed financial figures for the assets, liabilities, equity, revenue, expenses, and cash flows are presented for the years ending March 31, 2023, and March 31, 2022, with supporting notes. **Significant Accounting Policies:** Details regarding the company's accounting policies, including the classification of financial instruments, impairment of financial assets, revenue recognition, property, plant and equipment, employee benefits, taxation, and provisions, are provided. **Note 41** Particulars on Capital to Risk/Weighted Assets Ratio (CRAR), and Funding Concentration based on significant instrument are also available.

Digvijay Finlease Unlisted Shares

Digvijay Finlease Limited - 30th Annual Report Summary (Financial Year 2021-22) **Overview:** The document is the 30th Annual Report of Digvijay Finlease Limited for the financial year 2021-22. It includes the Directors' Report, financial statements, auditor's report, and notes to the financial statements. **Directors' Report:** The Board of Directors presents the audited financial statements for the year ended March 31, 2022, prepared in accordance with Indian Accounting Standards (Ind AS). **Financial Results (Rs in Lac):** * Profit Before Taxation (excluding Other Comprehensive Income): 5,559.76 * Less: Provision for Current Tax: 1,378.12 * Less: Deferred Tax: 275.82 * Less: Income Tax relating to previous year: 0 * Profit After Taxation (excluding Other Comprehensive Income): 3,905.82 * Add: Other Comprehensive Income (net of tax): 0.09 * Add: Transfer from Equity Instrument through OCI on realization: 14,359.89 * Add: Balance of Profit from Previous year (excluding Other Comprehensive Income): 23,505.28 * Total: 41,771.08 **Appropriations:** * Transfer to Reserve Fund (as per RBI Guidelines): 781.16 * Balance Carried to Balance Sheet (excluding Other Comprehensive Income): 40,989.92 * Total: 41,771.08 The total income for the year amounted to ₹5,875.58 Lac, compared to ₹647.39 Lac in the previous year. The Company continues to be registered as a Non-Banking Financial Company with the Reserve Bank of India. Due to the uncertainty from the pandemic, the Board decided to retain the earnings and not propose any dividend. **Share Capital:** The company has only one class of shares - equity shares of par value ₹10/- each. The Authorised Share Capital of the Company stands at 20 Crore divided into 2 Crore equity shares of ₹10/- each. The paid-up equity share capital of the Company stood at 1325.94 Lac as at 31st March, 2022. The Company did not issue any shares during the year. **Transfer to Reserve Fund:** In compliance with section 45-IC of Reserve Bank of India Act, 1934, a transfer of ₹781.16 Lac to the Reserve Fund is proposed. **Public Deposits:** The Company did not accept any deposit from the public during the year nor does it hold any public deposit as at the end of the financial year. **Particulars of Loans and Guarantees:** Exempt from complying with Section 186 of the Companies Act, 2013, due to being an NBFC. **Dematerialisation of Shares:** Arrangements with NSDL for dematerialization of securities. The ISIN is INE01US01017. **Related Party Transactions:** No significant material contract/arrangement/transactions with related parties, except for remuneration to key managerial personnel, sitting fees paid to directors and rent paid to the enterprise having significant influence which is in the ordinary course of business. **Internal Financial Control:** Adequate financial controls are in place, and internal auditors review the system. **Risk Management:** Identified risks are Commercial Risks, Financial Risks, Operational Risks, and Legal & Regulatory Risks. A Risk Management Committee is constituted, comprising Shri Ashok Bhandari, Shri Ravi Goenka, and Shri Gourav Periwal. **Directors and Key Managerial Personnel:** Shri Ashok Bhandari retires by rotation and offers himself for re-appointment. Ravi Goenka and S. K. Mukherjee continue as Independent Directors. Sumit Jain is the Company Secretary and Compliance Officer. **Auditors:** M/s S Jaykishan, Chartered Accountants, are the Statutory Auditors, appointed until the conclusion of the 32nd Annual General Meeting. **Reporting of Frauds:** No instances of fraud were reported by auditors. **Committees:** * Audit Committee: Comprises Shri Sudip Kumar Mukherjee (Chairman), Shri Ravi Goenka, and Shri Ashok Bhandari. * Nomination & Remuneration Committee: Comprises Shri Sudip Kumar Mukherjee (Chairman), Shri Ravi Goenka, and Shri Ashok Bhandari. * Stakeholders Relationship Committee: Shri Ashok Bhandari, Shri Sudip Kumar Mukherjee, Shri Gourav Periwal, and Shri Krishna Kumar Thakur. * CSR Committee: Shri Sudip Kumar Mukherjee (Chairman), Shri Ravi Goenka and Shri Gourav Periwal. **Corporate Social Responsibility (CSR):** Focus on environment preservation, education, and sports. Committed to spending 2% of average net profits of the last three financial years. The CSR Committee met once during the reporting period. **Policy on Directors' Appointment and Remuneration:** Policies are in place for selection, appointment, and remuneration of Directors and Senior Management. **Sexual Harassment:** Policy to prevent sexual harassment at workplace, compliant with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. No complaints received during the year. **Directors' Responsibility Statement:** The Board confirms that the financial statements comply with accounting standards, give a true and fair view, and that internal financial controls are adequate and operating effectively. **Independent Auditor's Report:** * Opinion: The Ind AS financial statements give a true and fair view in conformity with Ind AS and accounting principles generally accepted in India. * Key points: The audit was conducted in accordance with Standards on Auditing (SAs). The company has adequate internal financial controls. * Annexure A provides a statement on matters specified in paragraphs 3 and 4 of the Companies (Auditor's Report) Order, 2020. * Annexure B provides a report on the internal financial controls over financial reporting. **Financial Statements Highlights:** The balance sheet and statement of profit and loss are presented. The company's assets, liabilities, and equity are detailed. Key items include cash and cash equivalents, bank balances, loans, investments, equity share capital, and reserves. Statement of changes in equity for the year ended March 31, 2022 has also been provided. **Corporate Social Responsibility Policy (CSR Policy):** Digvijay Finlease Limited (DFL) believes that for its operation and growth to be sustainable, it has to be responsive to social needs. Its progress is thus underlined by strict adherence to environment preservation, social upliftment, spread of education, promotion of sports etc. DFL believes in making social development as an integral part of its business activities so as to bring about a meaningful change in the lives of people. DFL considers social responsibility as a voluntary act rather than an additional activity mandated by statute. **Ratios:** * Capital to Risk-Weighted Assets Ratio (CRAR): 118.62% * Tier I CRAR: 118.62% * Liquidity Coverage Ratio: 1436.72%

Digvijay Finlease Unlisted Shares

Digvijay Finlease Limited 29th Annual Report Summary: **Overview**: The 29th Annual Report of Digvijay Finlease Limited (DFL) presents the company's audited financial statements for the year ended March 31, 2021. The financial statements adhere to the Indian Accounting Standards (Ind AS). The report includes the Directors' Report, Independent Auditors' Report, Balance Sheet, Statement of Profit and Loss, Statement of Changes in Equity, Statement of Cash Flows, and related notes. **Board of Directors, Key Personnel and Statutory Auditors**: The Board of Directors consists of Ashok Bhandari, Ravi Goenka, Sudip Kumar Mukherjee and Gourav Periwal. K.K. Thakur is the Manager & CFO and R.R. Dalmia is the Company Secretary. D.K. Chhajer & Co., Chartered Accountants, Kolkata, served as the statutory auditors. **Financial Performance**: * Profit Before Taxation (excluding Other Comprehensive Income): ₹339.55 Lac * Profit After Taxation (excluding Other Comprehensive Income): ₹291.95 Lac * Total Income: ₹647.38 Lac (decreased from ₹6898.89 Lac in the previous year) * No dividend was recommended to conserve resources. * ₹58.39 Lac transferred to Reserve Fund as per RBI Guidelines for NBFCs. **Share Capital**: The authorized share capital stands at ₹20 Crore divided into 2 Crore equity shares of ₹10 each. The paid-up equity share capital stood at ₹1325.94 Lac as of March 31, 2021. No shares were issued during the year. **Dematerialization of Shares**: The company has arrangements with NSDL for dematerialization. The ISIN is INE01US01017. **Loans and Guarantees**: Provisions of Section 186 of the Companies Act, 2013 are not applicable as Digvijay Finlease is a registered NBFC. **Related Party Transactions**: No materially significant contracts or arrangements with related parties requiring disclosure under Section 188 of the Companies Act, 2013, except for remuneration to key managerial personnel and rent paid, which are disclosed in the Notes to Accounts. **Internal Financial Control**: Adequate internal financial control procedures are in place. The Audit Committee reviews reports from internal auditors. No material weakness in design or operation was observed. **Risk Management**: Identified risks include commercial, financial, operational, and legal & regulatory risks overseen by the Audit Committee. **Directors and Key Managerial Personnel**: Gourav Periwal retires by rotation and offers himself for reappointment. The Board recommends the re-appointment. Ravi Goenka and S. K. Mukherjee continue as Independent Directors. The Company has a familiarization program for independent directors. K.K. Thakur is Manager and CFO. Rakesh Rosan Dalmia is Company Secretary and Compliance Officer. **Auditors**: D.K. Chhajer & Co. will continue as auditors until the conclusion of the 30th AGM to be held in 2022. There were no comments or observations mentioned by the Auditors in their report. **Corporate Social Responsibility (CSR)**: The company’s CSR focus is on environment preservation, education, and supporting the needy. This year the company contributed for development & promotion of sports activities through a Section 8 Company namely "Shree Cement East Bengal Foundation". **Sexual Harassment Policy**: A policy is in place as required by the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The company has less than 10 employees; hence the internal committee is not applicable. **Directors' Responsibility Statement**: The board confirms that applicable Accounting Standards have been followed, accounting policies are consistent, proper and sufficient care has been taken for maintaining adequate accounting records, and the Annual Accounts have been prepared on a going concern basis. **Annexure AOC-2**: Form AOC-2 shows details of material contracts or arrangements or transactions at arm's length basis with Shree Capital Services Ltd. for Office Rent Agreement. **Financial Results Review**: Total income decreased, and profit before and after tax also decreased compared to the previous year. The company remains registered as an NBFC with the Reserve Bank of India. The COVID-19 Pandemic has not significantly affected the financial position of the Company. **Corporate Social Responsibility**: CSR activities focused on promoting and developing sports, with ₹30.65 Lac spent through the Shree Cement East Bengal Foundation. The Company is committed to spending 2% of its Average Net Profits of last three financial years towards its social initiatives. **Directors’ Remuneration and Other Disclosures**: Details provided about remuneration to Directors and Key Managerial Personnel. **Independent Auditor’s Report**: The audit was conducted in accordance with Standards on Auditing (SAs). Emphasis is drawn to Note No. 35 regarding uncertainties due to the COVID-19 pandemic. The audit was conducted remotely.