Annual Report: 2021
Oravel Stays Limited Annual Report 2021-22 Summary:
Corporate Information:
Financial Highlights/Performance of the Company:
Company Affairs, Expansion Plans, and Future Prospects:
COVID-19 Pandemic Response:
Awards & Recognition:
Capital Structure:
Board of Directors & Key Managerial Personnel: * Comprises six directors with two non-executive directors, including four non-executive and independent directors and one woman director (100% non-executive). * Changes during the year include resignations of Gerardo Isaac Lopez, Munish Ravinder Varma, Bejul Somaia, Troy Matthew Alstead, and William Steve Albrecht. * Appointments of Bejul Somaia, William Steve Albrecht, Troy Matthew Alstead, and Dr. Deepa Malik as Additional/Independent Directors. * Appointment of Abhinav Sinha as a Manager. * Sachin Dev appointed Company Secretary & Compliance Officer
Board Meetings & Committees:
Nomination and Remuneration Policy:
Other Key Points:
CSR Activities: * The OYO Group has actively engaged in CSR activities with more than 14 NGOs and has incurred a combined spend of INR 2.9 Crore through JV and subsidiary entities. * Efforts were focused in promoting diversity, especially women empowerment and gender equality, e-learning for the underprivileged impacted by COVID, rural upliftment, mental and holistic wellbeing, enabling accessibility for PWD, and urban environmental restoration.
Conservation of Energy, Technology Absorption and Foreign Exchange:
Risk Management: * Company has a risk management framework to identify and mitigate business risks. * Directors' & Officers' Liability Insurance and other key insurance policies have been taken.
Internal Financial Controls: * Adequate internal financial controls commensurate with business operations. * No reportable material weakness in design or operation observed.
Auditor's Report: * M/s S.R. Batliboi & Associates LLP, Chartered Accountants, were re-appointed as Statutory Auditors.
Emphasis of Matter: * Uncertainties due to the impact of COVID-19 on future projections and carrying value of assets.
Secretarial Audit:
Prevention of Insider Trading:
Corporate Governance: * Strives for high standards of corporate governance, transparency, accountability, and integrity.
Disclosure under Sexual Harassment of Women at Workplace Act: * Committed to a healthy environment with zero-tolerance for discrimination and a Prevention of Sexual Harassment (POSH) policy in place. * No complaints were reported.
Employee Stock Options:
Shares held in Trust:
Details of Subsidiaries and Joint Venture Companies:
Disclaimer: Due to length and complexity, as well as the format in which the data is presented, please refer to the full audited report for a comprehensive understanding of all financial positions, operations, and accounting procedures. This summary should be considered a starting point for further exploration, and not as a final representation of the company's full reporting picture.
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