Annual Report: 2021
Annual Report Summary: INKEL Limited (2020-2021)
This document is the 14th annual report for INKEL Limited, covering the financial year ending March 31, 2021. INKEL Limited is a Public Private Partnership initiative. The annual report includes notice to shareholders, directors' report, balance sheet, statement of profit & loss, cash flow statement, and consolidated financial statements. The registered office is located in Kakkanad, Kochi. The 14th Annual General Meeting was held on December 30, 2021, via video conferencing.
Notice to Shareholders: The notice announces the 14th Annual General Meeting to be held on December 30, 2021, via video conferencing, to transact ordinary and special business. Ordinary business includes adopting the audited financial statements. Special business includes the appointment of Mr. Mohanlal as Managing Director. Terms and conditions of the appointment, including salary and incentives, are detailed. Notes provide information about electronic voting and joining virtual meetings, including instructions for shareholders whose email/mobile numbers are not registered. An explanatory statement related to the appointment of Mr. Mohanlal is also included.
Directors' Report: Financial results show a total revenue of Rs. 61,42,67,696 for FY 2020-21, compared to Rs. 29,74,06,694 in the previous year. The net loss was Rs. 3,33,51,479, compared to Rs. 13,60,16,845 the previous year. No dividend was declared. The report reviews operations, noting INKEL's role as SPV/PMC for Kerala government projects with a total project cost of Rs. 1358 Cr and average centage of 3.30%. Projects under execution span various departments. The report highlights INKEL Business Park Angamaly and INKEL Greens Malappuram initiatives. The report details about solar division which achieved Rs.35 crore in business in the FY 2020-21.
The report includes details of unclaimed dividends transferred to the Investor Education and Protection Fund. It reports changes in share capital during the year, the Board of Directors, the number of board meetings held and the date on which those meetings were held, corporate social responsibility committee activities with an amount of Rs.15,93,400 spent, Nomination and Remuneration committee, Audit committee, and Stakeholders Relationship committee. The company has adequate risk management systems in place. Related party transactions are disclosed. It also affirms compliance with Secretarial Standards and includes statements on Independent Directors and Woman Director. It provides details regarding Statutory Auditor, Cost Auditors, and Secretarial Audit. It declares that there were no cases reported regarding sexual harassment of women at the workplace. The report also includes information about deposits, loans, guarantees, investments, details of subsidiaries, and annual return.
Financial Statements:
Auditors' Report:
The independent auditor's report disclaims an opinion on the consolidated financial statements of the group and its associates because of the non-consolidation of SFS due to unresolved financial irregularities. The report highlights key audit matters and other legal and regulatory requirements and internal financial control.
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