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Inox Leasing and Finance Limited Unlisted Shares

Annual Report: 2022

Year: 2022

Annual Report Summary

The 2021-2022 annual report for Inox Leasing and Finance Limited (ILFL) outlines the company's financial performance, compliance, and governance-related activities for the year. The Twenty Seventh Annual General Meeting will be held on Friday, 30th September, 2022.

Financial Performance: ILFL's financial results for the year ended March 31, 2022, show a net sales/income from operations of ₹460632.80 lacs consolidated and ₹449.30 lacs standalone. The total income from operations was ₹460632.80 lacs consolidated and ₹449.30 lacs standalone. Total expenses were ₹427325.28 lacs consolidated and ₹1883.56 lacs standalone. The profit/(loss) for the year was ₹89948.42 lacs consolidated and ₹46285.09 standalone.

Business Matters and Corporate Actions:

  • Registered Office: The company shifted its registered office from Maharashtra to the National Capital Territory of Delhi.
  • Buyback of Shares: The company acquired 93,417 equity shares at ₹175 per share, reducing paid-up capital.
  • Dividend: No dividend was recommended for the financial year ended March 31, 2022.
  • Reserves: The company transferred ₹9500.00 lacs to Statutory Reserve and ₹100.00 lacs to General Reserves.
  • Directors: Mr. Pavan Kumar Jain resigned as Managing Director and Director on November 8, 2021. Mr. Siddharth Jain resigned as Non-Executive Director on November 8, 2021. Mr. D.K. Jain retires by rotation and is eligible for re-appointment.

Compliance & Governance:

  • Auditors: M/s. S.C. Bandi & Co. expressed their inability to continue as Independent Auditors. M/s. Dewan P. N. Chopra & Co. is recommended as the new Independent Auditors.
  • Frauds: There were no instances of fraud reported by the Statutory Auditors.
  • Internal Controls: The company has adequate internal controls.
  • CSR: The Corporate Social Responsibility (CSR) Committee comprises Shri D.K. Jain, Shri Vivek Kumar Jain, and Shri Devansh Jain. The voting rights of Shareholders shall be in proportion to their shares of the Paid - Up Equity Share Capital of the Company as on the cut-off date of 21 st September, 2022.

Subsidiary and Associate Performance: Annexure 1 outlines the performance and financial highlights of the subsidiaries, associate companies and joint ventures.

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