The Scottish Assam (India) Limited Unlisted Shares

Annual Report Summary

Annual Report 2020-21 Summary for Scottish Assam (India) Limited:

Key Highlights:

• Financial Performance: For the financial year ended March 31, 2021, Scottish Assam (India) Limited reported a Net Sales Income From Operations of Rs. 3140.42 Lakhs. Total comprehensive income (after tax) was Rs. 1393.55 Lakhs. The Board recommends a dividend of Rs. 6/- per share.
• Production: The company's own estate production was 12.17 Lakhs kgs, a 9.45% decrease from the previous year, attributed to COVID-19 protocols. Production from purchased leaf was 0.38 Lakhs kgs.
• Corporate Governance: The report includes corporate governance compliance per SEBI regulations, accompanied by auditor's certificate. All Board members and Senior Management have affirmed compliance with the company's code of conduct.
• Risk Management: The company has implemented a Risk Management Policy and identified various business risks with mitigating actions in place, with audit committee oversight.

Board of Directors & Key Personnel:

• Board: Lists the names of the Board of Directors, including Dhirendra Kumar, Shashi Kumar, Divya Jalan, Hemant Kumar Agrawal, Golam Momen, Ghanshyam Das Gupta, Gaurav Gupta, Naveen Bansal, and Kartik Narayan Singh
• Key Managerial Personnel: Kartik Narayan Singh (Whole-time Director & General Manager), Yugal Keshor Chaudhary (Chief Financial Officer), Sreya Bose (Company Secretary & Compliance Officer).

Annual General Meeting (AGM) Details:

• The 44th AGM is scheduled for September 29, 2021, at 11:30 a.m. via video conferencing. The book closure period is from September 23, 2021, to September 29, 2021 (inclusive).
• The notice outlines ordinary business, including adopting financial statements, declaring dividends, and appointing a director, as well as notes on remote e-voting, dividend taxation, and IEPF transfers.

Key Points from the Director's Report:

• Transfer to General Reserve: Rs. 1.00 crore is transferred to General Reserve.
• Corporate Social Responsibility (CSR): The company considers CSR important but section 135 of Companies Act, 2013 is not presently applicable.
• Auditor's Responsibility Statement: Directors confirm that the audited accounts comply with IND AS and the Companies Act, 2013, providing a true and fair view.
• Materiality: The company has an impairment materiality loss of (416.26) for the Financial Year ended 2020-2021.
• Employee Particulars: Details of employees' remuneration are attached as an annexure.
• Public Deposits: The company hasn't accepted any public deposits.
• Investments: The Company invested Rs. 1161.39 Lacs in Mutual Funds.
• Related Party Transactions: Related party transactions are conducted at arm's length and are compliant with regulations, with prior approval of audit committee.
• Energy Conservation: Disclosure of particulars regarding conservation of energy is included.
• Environment and Safety: The company focuses on clean environment, safety, and has zero tolerance for sexual harassment, has an appropriate policy.
• Internal Audit: M/s V. Singhi & Associates is the internal auditor. The report submitted by them is regularly reviewed and their findings are discussed with the process owners and suitable corrective action taken on an ongoing basis to improve efficiency in operations.
• Secretarial Audit: Mr. Pravin Kumar Drolia of M/s. Drolia & Co. is the secretarial auditor.
• Number of Board Meetings: 5 Board meetings were held.

Director-related Information:

• Composition of Committees: Audit Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee, Compliance Committee
• Board Evaluation: The board has a framework for evaluating the board's performance and individual directors, stating their view that performance was adequate.
• Directors seeking re-appointment: Mrs. Shashi Kumar will retire and is eligible for re-appointment. *Independent Directors must register with the databank of Independent Directors maintained with the Indian Institute of Corporate Affairs. *Whistle Blower: The Company has adopted a Whistle Blower Policy.

Other Disclosures:

• Extract of Annual Return is enclosed.
• The company has a Code of Conduct for Directors and Senior Management and they all confirmed compliance.
• Dividend Distribution Policy is available.
• Information is disseminated through financial express and arthik lipi newspapers and website: www.scottishassam.com
• Auditor's Compliance Certificate is annexed.

Financial Statements:

• The financial statements include the balance sheet, statement of profit & loss, cash flow statement, and statement of changes in equity.
• The notes to financial statements provide detailed information on various aspects of the company's financial performance, accounting policies, share capital, reserves, borrowings, and other items.

Detailed Information:

• Details of Directors seeking appointment/re-appointment at the Annual General Meeting.
• Details pertaining to remuneration as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
• The Information Under Section 134(3)(M) of the Companies Act, 2013 Read With Rule 8(3) of the Companies (Accounts) Rules, 2014 for the Year Ended 31st March, 2021 is Given Here Below and Forms Part of the Director's Report.

Disclaimer:

• Statements in the report regarding projections, estimates and expectations have been made in good faith and the actual results could differ.

This summary captures the key information from the Scottish Assam (India) Limited Annual Report 2020-21.