Annual Report: 2024
Scottish Assam Annual Report 2023-24
Board of Directors & Key Personnel:
The board consists of Mr. Dhirendra Kumar, Ms. Shashi Kumar, Ms. Divya Jalan, Mr. Hemant Kumar Agrawal, Mr. Ghanshyam Das Gupta (Independent Director), Mr. Naveen Bansal (Independent Director), Mr. Deepak Nagar (Independent Director), Mr. Ravindra Suchanti (Independent Director), Mr. Azam Monem (Independent Director), and Mr. Kartik Narayan Singh (Whole-time Director). Key managerial personnel include Mr. Kartik Narayan Singh (also General Manager of Heeleakah Tea Estate), Mr. Manoj Sureka (Chief Financial Officer), and Mrs. Ritu Bhatter (Company Secretary & Compliance Officer). Various board committees exist, including Audit, Nomination & Remuneration, Stakeholders' Relationship, and Compliance Committees, with designated chairpersons and members. The registered office is located at 1, Crooked Lane, Kolkata-700 069.
Annual General Meeting (AGM):
The 47th Annual General Meeting is scheduled for September 21, 2024, at 3:00 p.m. via video conferencing. The book closure period is from September 15, 2024, to September 21, 2024 (inclusive).
AGM Agenda:
Ordinary business includes adoption of audited financial statements for the year ended March 31, 2024, declaration of a dividend of Rs. 8.00 per equity share (80% on face value), and re-appointment of Mr. Hemant Kumar Agrawal as a director retiring by rotation.
Special business concerns the re-appointment of Mr. Kartik Narayan Singh as Whole-time Director (designated as Chief Executive Officer (CEO) and General Manager of Heeleakh Tea Estate) for a period of 5 years, from February 11, 2025, to February 10, 2030, subject to member approval and regulatory compliance. Members are requested to send any queries regarding the financial statements or AGM matters by September 19, 2024.
E-Voting & AGM Participation:
Remote e-voting will be available from September 18, 2024 (9:00 a.m. IST) to September 20, 2024 (5:00 p.m. IST). Members holding shares in physical form are required to update their KYC details to receive dividends electronically after April 1, 2024. The company is also providing a live webcast of the proceedings of the AGM. Facility of participation at the AGM through VC/ OAVM will be made available for 500 members on a first-come-first-served basis. Large shareholders, promoters, institutional investors and others are exempt from this restriction.
Unclaimed Dividends & Share Transfers:
The last dates for claiming unclaimed dividends for financial years 2016-2017 through 2022-2023 are specified, after which the unclaimed amounts will be transferred to the Investor Education and Protection Fund (IEPF). Shares for which dividends remain unclaimed for 7 consecutive years or more will also be transferred to the IEPF. The company is also providing a link for e-voting.
Director Re-appointment:
Mr. Kartik Narayan Singh will continue in his role, with a salary of Rs 15.49 LPA plus leave salary, subject to Board revision within the limits prescribed in Schedule V of the Companies Act, 2013. He is also entitled to perquisites, including bonus, medical expenses and LTA, and 30 days of leave per year.
Report of the Directors:
The report presents the 47th Annual Report of the Company along with the Audited Statements of Accounts for the year ended March 31st, 2024. The paid-up Equity Share Capital of the Company was Rs. 80.00 Lakhs comprising of 8,00,000 equity shares of Rs. 10/- each. Directors would like to record their appreciation for the sincere efforts put in by the Company's workers, staff and Management at all levels which has ensured regular production.
Financial Performance:
Net Sales Income from Operations for the year ended March 31, 2024, was Rs 3258.99 Lakhs. The Board is pleased to recommend the distribution of dividend of Rs. 8/- per share for the year ended 31st March, 2024. Significant cost increase in fertilizer, chemicals along with gas, power & fuel will increase the cost of production. The company has complied with the Corporate Governance requirements under the Companies Act, 2013 and as stipulated in Listing Regulations. Your Company considers Corporate Social Responsibility as an important aspect for doing Business.
Additional Key Points:
The directors affirm compliance with applicable laws and regulations.
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