Annual Report: 2022
The document is the Annual Report for 2021-22 of the Indian Commodity Exchange Limited (ICEX). It covers various aspects of the company, including its financial performance, operations, governance, and future outlook.
Notice of AGM: The 14th Annual General Meeting of ICEX will be held on November 21, 2022, via video conferencing. The agenda includes adopting the audited financial statements for the year ended March 31, 2022, appointing a director, and appointing Mr. Ranjit Kumar Samantaray as a Director of the Company. Instructions for e-voting and participation in the AGM are provided.
Directors' Report: ICEX's trading operation re-commenced on August 28, 2017, with the launch of Diamond Derivatives contract. ICEX launched Steel Long contracts on August 28, 2018. The Board of directors meeting decided to keep the Trading Operations of the Exchange and Mutual Fund transactions under suspension for a temporary period with immediate effect. SEBI withdrew the permanent recognition granted to ICEX with effect from May 18, 2022. An appeal was filed with the Securities Appellate Tribunal (SAT), which allowed the Exchange one year for revival. The company's authorized share capital was ₹368 Crore. The operating income for FY 2021-22 was ₹1.22 Crore, and the net loss after tax was ₹21.73 Crore. The Investor Protection Fund stood at Rs. 13,56,39,687.25.
Management Discussion and Analysis Report: The management requested SEBI to permit the Exchange to have a single investor to hold up to 51% for a period of five years from date of investment. Trading Operations of the Exchange and Mutual Fund transactions were suspended for a temporary period wef 01.04.2022 and 14.04.2022 respectively. The net-worth of the Exchange as on March 31, 2022 was ₹81.96 crores.
Corporate Governance Report: The Board consisted of 6 directors, including 3 Shareholder Directors and 3 Public Interest Directors. The company had committees of the Board. The report covers details of director attendance, remuneration, and various aspects of corporate governance.
Financial Statements: The balance sheet shows total assets of ₹1,447,251.14 thousand. The equity share capital is ₹2,667,537.38 thousand and total equity is ₹823,490.10 thousand. The statement of profit and loss indicates a loss before tax of (₹217,369.61) thousand and a loss for the year of the same amount. The auditor has given a qualified opinion due to a lack of sufficient audit evidence about the recoverable amount of certain assets because of non-impairment testing. The auditor draws attention to material uncertainty related to the company's ability to continue as a going concern. The statements also detail significant accounting policies.
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.
