Upload
others
View
1
Download
0
Embed Size (px)
Citation preview
34th
Annual Report
2014-2015
CORPORATE INFORMATION
Non- ExecutiveChairman : Mr. Satish Chander Narang
Managing Director : Mr. Naveen Narang
Non-Executive Directors
: Mr. Dinesh Kumar
: Mr. Mukul Dhamija
: Mr. Rakesh Pahwa
Company Secretary : Ms. Bernadette Dominic (Resigned on 10 April, 2015)th
Auditor : M/s Deepak Narang & Associates
Chartered Accountants, New Delhi
Registered Office
SD-65, Tower Apartment, Pitampura, New Delhi–110034
Ph. No. 011-2731 4646, 2731 2522 Fax: 011-2731 5115
Website: www.maxheights.com
Email Id: [email protected]
Details of RTA
Skyline Financial Services Private Limited
D-153/A, 1st Floor, Okhla Industrial Area,
Phase – I, New Delhi - 110020
Ph. No. 011-6473 2681, 6473 2682 Fax: 011-2681 2682
Email Id: [email protected]
The Equity Shares of the Company are listed at Bombay Stock Exchange & Calcutta Stock Exchange.
& Chief Financial Officer
: Ms. Mansi Narang
: Ms. Jaspreet Kaur (Appointed on 3 June, 2015)rd
CONTENTS
Page
1. Notice 1
2. Director’s Report 8
3. Management Discussion and Analysis 37
4. Standalone Financial Statements 41
Auditors’ Report
Balance Sheet
Statement of Profit and Loss
Cash Flow Statement
Notes to the Financial Statements
5. Consolidated Financial Statements 65
Auditors’ Report
Balance Sheet
Statement of Profit and Loss
Cash Flow Statement
Notes to the Financial Statements
6. 95
7. Attendance Slip & Proxy Form 137
Annexure-AA: The details of the natural persons who are the ultimate beneficial
owner(s)/person(s) in control of M/s Ranjitgarh Finance Company Private Limited
and M/s Nau Nidh Finance Limited (unlisted body corporate)
Annexure-A -Form AOC 1
NOTICE
Notice is hereby given that the 34 Annual General Meeting of the Members of M/s Max Heights Infrastructure Limited will
be held on Saturday, the 12 day of September, 2015 at 12:30 P.M. at Twist 'n' Turn Banquet, 226-227 Shop in Park Mall,
Shalimar Bagh, New Delhi - 110088, to transact the following businesses:
To receive, consider and adopt the Audited Balance Sheet of the Company as at 31 March, 2015 and Profit and
Loss Account for the year ended on that date together with the Reports of the Auditors' and Directors' thereon.
To appoint a Director in place of Mr. Naveen Narang (DIN: 00095708), who retires by rotation and being eligible,
offers himself for re-appointment.
To approve the interim dividend of 2% (Two percent) per equity share, already paid during the year, for the
financial year ended 31 March 2015 as the final dividend.
Appointment of Auditors:
pursuant to the provisions of section 139 and other applicable provisions, if any, of the
Companies Act, 2013 and the Rules framed thereunder, as amended from time to time, the Company hereby
ratifies the appointment of M/s Deepak Narang & Associates, Chartered Accountants, New Delhi, as Auditors of
the Company to hold office from the conclusion of this Annual General Meeting (AGM) till the conclusion of the
35 AGM of the Company to be held in the year 2016 at such remuneration plus service tax, as may be mutually
agreed between the Board of Directors of the Company and the Auditors.”
Ms. Mansi Narang (DIN: 07089546), who was appointed as an Additional Director of the
Company with effect from 11 February 2015 by the Board of Directors and who holds office upto the date of this
Annual General Meeting of the Company under Section 161(1) of the Companies Act, 2013 (the Act), who is
eligible for appointment and in respect of whom the Company has received a notice in writing under Section
160(1) of the Act from a Member proposing her candidature for the office of Director, be and is hereby
appointed as Director of the Company.”
in continuation of the resolutions regarding preferential issue of equity shares passed at the
Extra Ordinary General Meeting of the Company held on 25 June 2014 and the Annual General Meeting held on
29 September 2014, the consent of the members of the Company be and is hereby accorded for ratification and
taking on record the identity of the ultimate beneficial owner(s)/ person(s) in control of M/s Ranjitgarh Finance
Co. Private Limited and M/s Nau-Nidh Finance Limited, the unlisted body corporate allottees to the said
preferential issue.
Ordinary Business:
3.
4.
To consider and if thought fit, to pass the following resolution as an Ordinary Resolution:
“RESOLVED THAT
Special Business
5. Appointment of Ms. Mansi Narang as Director
To Consider and if thought fit, to pass the following resolution as an Ordinary Resolution:
“RESOLVED THAT
6. Preferential Allotment
To Consider and if thought fit, to pass the following resolution as a Special Resolution:
“RESOLVED THAT
”
th
th
st
st
th
th
th
th
1.
2.
For and on Behalf of the Board
Max Heights Infrastructure Limited
Sd/-Naveen Narang
Managing Director & CFODIN: 00095708
Date : 14 August, 2015 Regd. Off.: SD-65, Tower Apartment,Place : New Delhi Pitampura,New Delhi-110034
For
th
1 ANNUAL REPORT 2014-2015
Notes:
A MEMBER ENTITLED TO ATTEND AND VOTE AT THE ANNUAL GENERAL MEETING (THE “MEETING”) IS
ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF/HERSELF AND THE PROXY NEED
NOT BE A MEMBER OF THE COMPANY. THE PROXY FORM IN ORDER TO BE EFFECTIVE MUST BE DEPOSITED
WITH THE COMPANY NOT LESS THAN 48 HOURS BEFORE THE TIME FIXED FOR COMMENCEMENT OF THE
MEETING
A person can act as proxy on behalf of members not exceeding fifty and holding in aggregate not more than
ten percent of the total share capital of the Company carrying voting rights. A member holding more than ten
percent of the total share capital of the Company carrying voting rights may appoint a single person as proxy
and such person shall not act as proxy for any other person or shareholder.
Annexure–A
Members who have not registered their e-mail addresses so far are requested to register their e-mail address
for receiving all communications including Annual Report, Circulars, etc. from the Company electronically.
Voting through electronic means:
Annexure–B
1.
2.
8.
10.
i.e. upto 12:30 p.m. on 10 September 2015.
Corporate Members intending to send their authorised representatives to attend the meeting are requested to
send to the Company a duly certified copy of the Board Resolution/ Authorisation together with the specimen
signatures authorising their representatives to attend and vote on their behalf at the Meeting.
The Register of Members and the Share Transfer Book of the Company shall remain closed from Wednesday 9
September 2015 to Saturday 12 September 2015 (both days inclusive).
Explanatory Statement as required under section 102 of the Companies Act, 2013, in respect of Special
Business under Item No. 5 and 6 is enclosed herewith.
Details under clause 49 of the Listing Agreement with the Stock Exchanges in respect of the Directors seeking
appointment/reappointment at the Meeting is annexed to the Notice as .
Notice of the Meeting of the Company, indicating the process and manner of e–voting along with
Attendance Slip and Proxy Form is being sent to the members, whose email ids are registered with the Company
and Depository Participant(s) for communication purposes unless any member has requested for a hard copy of
the same. For members who have not registered their email address, physical copies of the Notice of the
Meeting is being sent through permitted mode.
Members may also note that the Notice of the Meeting and the Annual Report will also be available on the
Company's website for download. The physical copies of the aforesaid documents will
also be available at the Company's Registered Office for inspection at any time between 10:00 a.m. to 1:00 p.m.
on any working day upto the date of Meeting. Even after registering for e-communication, members are entitled
to receive such communication in physical form, upon making a request for the same, by post free of cost. For
any communication, the shareholders may also send requests to the Company's investor email ID i.e.,
In compliance with provisions of section 108 of the Act and Rule 20 of The Companies [Management
and Administration] Rules, 2014 and clause 35B of the Listing Agreement, the Company is providing e-
voting facility as an alternative mode of voting which will enable the members to cast their votes
electronically.
Necessary arrangements have been made by the Company with Central Depository Services [India]
Limited [CDSL] to facilitate e-voting. The detailed process, instructions and manner for availing e-
Voting facility is annexed to the Notice as .
Ms. Pooja Bhatia, Practicing Company Secretary [Membership No. F7673] has been appointed as the
Scrutinizer to scrutinize the voting and remote e-voting process in a fair and transparent manner.
Members who have cast their vote by remote e-voting prior to the meeting may also attend the
meeting but shall not be entitled to cast their vote again.
Members can opt for only one mode of voting i.e. either by e-voting or poll paper. In case Members
th
th
th
3.
4.
5.
6.
7.
9.
(i)
(ii)
(iii)
(iv)
inter alia,
www.maxheights.com
2 ANNUAL REPORT 2014-2015
cast their votes through both the modes, voting done by e-voting shall prevail and votes cast through Poll Paper
shall be treated as invalid.
The e-voting period commences on Tuesday, 8 September 2015 [9:00 a.m.] and ends on Friday, 11
September 2015 [5:00 p.m.]. During this period, Members holding shares either in physical form or
demat form, as on 5 September, 2015 i.e. cut-off date, may cast their vote electronically. The e-
voting module shall be disabled for voting thereafter. Once the vote on a resolution is cast by the
Member, he / she shall not be allowed to change it subsequently or cast vote again.
The voting rights of members shall be in proportion to their shares in the paid up equity share capital
of the Company as on cut-off date. A person, whose names is recorded in the register of members or
in the register of beneficial owners maintained by the depositories as on cut-off date only shall be
entitled to avail facility of remote e-voting and poll process at the venue of the meeting.
Any person, who acquires shares of the Company and becomes a member of the Company after
dispatch of the Notice and holding shares as on cut-off date, may cast vote after following the
instructions for e-voting as provided in the Notice convening the Meeting, which is available on the
website of the Company and CDSL. However, if you are already registered with CDSL for remote e-
voting then you can use your existing User ID and password for casting your vote.
The Scrutinizer shall, immediately after the conclusion of voting at the meeting, would count the
votes cast at the meeting, thereafter unblock the votes cast through remote e-voting in the presence
of at least two witnesses not in the employment of the Company and make, not later than three days
of conclusion of the meeting, a consolidated Scrutinizer's Report of the total votes cast in favour or
against, if any, to the Chairman, who shall countersign the same.
The results declared along with the Scrutinizer's Report shall be placed on the Company's website
and on the website of CDSL i.e., www.evotingindia.com immediately after the
result is declared. The Company shall simultaneously forward the results to BSE Limited [BSE] & CSE
Limited [CSE], where the equity shares of the Company are listed.
The route map giving the directions, to the venue of the AGM is annexed to the Notice as .
Members/Proxies attending the meeting are requested to bring their attendance slip along with their
copy of Annual Report to the Meeting.
Queries proposed to be raised at the Annual General Meeting may be sent to the Company at its
registered office at least seven days prior to the date of AGM to enable the management to compile
the relevant information to reply the same in the meeting.
Members holding shares in demat form are requested to intimate all changes pertaining to their bank
details, National Electronic Clearing Service [NECS], Electronic Clearing Services [ECS] mandates,
nominations, power of attorneys, change in address, change of name, email address, contact
numbers, etc. to their Depository Participant [DP]. Changes intimated to the DP will then be
automatically reflected in the Company's records which will help the Company and the Company's
Registrar and Transfer Agents to provide efficient and better services. Members holding shares in
physical form are requested to intimate such changes to Registrar and Transfer Agents of the
Company.
In case of joint holders attending the Meeting, only such joint holder who is higher in the order of
names will be entitled to vote. Members who hold shares in physical form in multiple folios in identical
names or joint holding in the same order of names are requested to send the share certificates to
Registrar, for consolidation into a single folio.
The Securities and Exchange Board of India (SEBI) has mandated the submission of Permanent
Account Number (PAN) by every participant in securities market. Members holding shares inelectronic form are, therefore, requested to submit their PAN to their Depository Participants with whom they
(v)
(vi)
(vii)
(viii)
(ix)
(i)
(ii)
(iii)
(iv)
(v)
th th
th
www.maxheights.com
11. Annexure–C
12. REQUEST TO MEMBERS
3 ANNUAL REPORT 2014-2015
are maintaining their demat accounts. Members holding shares in physical form can submit their PAN
details to the Company / registrar and Share Transfer Agents.
Annexure-A: to the Notice dated 14 August 2015- Details of Director seeking Appointment/ Reappointmentth
Name of Director Naveen Narang Mansi Narang
Age 39 years 37 years
Date of Appointment by the Board of
Directors13
thMarch 2008 11
thFebruary, 2015
Brief Resume and nature of expertise
in functional areas17 years of experience in finance and
real estate development
Possesses appropriate skills,
experience and knowledge , inter alia,
in the field of accounts
Directorships held in other public
Companies [excluding foreign and
private Companies]
Pitam Pura Leasing And Housing
Finance Limited
Max Vision Securities Limited
Max Heights Finance Limited
Nil
Memberships / Chairmanships of
Committees of other Public
Companies
Nil Nil
Number of shares held in the
Company
41,93,861 Equity Shares @ 10/-
each5,11,500 Equity Shares of 10/ - each
Annexure-B: to the Notice dated 14 August 2015- Instructions for e-Voting. The instructions for members for voting
electronically are as under:
For Members holding shares in Demat and Physical Form
th
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
(viii)
!
!
The voting period begins on Tuesday, 8 September 2015 from 9:00 a.m. and ends on Friday, 11 September
2015 at 5:00 p.m. During this period shareholders of the Company, holding shares either in physical form or in
dematerialized form, as on Saturday the 5 day of September 2015, being the Cut-Off date may cast their vote
electronically. The e-voting module shall be disabled by CDSL for voting thereafter.
Shareholders who have already voted prior to the meeting date would not be entitled to vote at the meeting
venue.
The shareholders should log on to the e-voting website .
Click on Shareholders.
Now Enter your User ID
a. For CDSL : 16 digits beneficiary ID,
b. For NSDL : 8 Character DP ID followed by 8 Digits Client ID,
c. Members holding shares in Physical Form should enter Folio Number registered with the Company.
Next enter the Image Verification as displayed and Click on Login.
If you are holding shares in demat form and had logged on to www.evotingindia.com and voted on an earlier
voting of any company, then your existing password is to be used.
If you are a first time user follow the steps given below:
PAN Enter your 10 digit alpha-numeric PAN issued by Income Tax Department (Applicable for shareholders
holding shares in demat as well as physical form)
Dividend Bank Details or Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy format) Date of
th th
th
www.evotingindia.com
4 ANNUAL REPORT 2014-2015
Birth (DOB) as recorded in your demat account or in the company records in order to login.
If both the details are not recorded with the depository or company please enter the member id / folio
number in the Dividend Bank details field as mentioned in instruction (v).After entering these details appropriately, click on “SUBMIT” tab.
Members holding shares in physical form will then directly reach the Company selection screen. However,
members holding shares in demat form will now reach 'Password Creation' menu wherein they are required
to mandatorily enter their login password in the new password field. Kindly note that this password is to be
also used by the demat holders for voting for resolutions of any other company on which they are eligible to
vote, provided that company opts for e-voting through CDSL platform. It is strongly recommended not to
share your password with any other person and take utmost care to keep your password confidential.
For Members holding shares in physical form, the details can be used only for e-voting on the resolutions
contained in this Notice.
Click on the EVSN of MAX HEIGHTS INFRASTRUCTURE LIMITED on which you choose to vote.
On the voting page, you will see “RESOLUTION DESCRIPTION” and against the same the option “YES/NO” for
voting. Select the option YES or NO as desired. The option YES implies that you assent to the Resolution and
option NO implies that you dissent to the Resolution.
Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution details.
After selecting the resolution you have decided to vote on, click on “SUBMIT”. A confirmation box will be
displayed. If you wish to confirm your vote, click on “OK”, else to change your vote, click on “CANCEL” and
accordingly modify your vote.
Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify your vote.
You can also take a print of the votes cast by clicking on “Click here to print” option on the Voting page.
If a demat account holder has forgotten the login password then Enter the User ID and the image verification
code and click on Forgot Password & enter the details as prompted by the system.
Non-Individual shareholders (i.e. other than Individuals, HUF, NRI etc.) and Custodian are required to log on
to www.evotingindia.com and register themselves as Corporates.
A scanned copy of the Registration Form bearing the stamp and sign of the entity should be emailed to
.
After receiving the login details a Compliance User should be created using the admin login and password.
The Compliance User would be able to link the account(s) for which they wish to vote on.
The list of accounts linked in the login should be mailed to [email protected] and on approval
of the accounts they would be able to cast their vote.
A scanned copy of the Board Resolution and Power of Attorney (POA) which they have issued in favour of the
Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify the same.
(xx) In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked Questions
(“FAQs”) and e-voting manual available at www.evotingindia.com, under help section or write an email to
Deputy Manager, CDSL
17th Floor, PJ Towers, Dalal Street, Fort, Mumbai–400 001.
Email: [email protected], Tel: 022-22723333/8588
!
(ix)
(x)
(xi)
(xii)
(xiii)
(xiv)
(xv)
(xvi)
(xvii)
(xviii)
!
!
!
!
!
(xix) Note for Non – Individual Shareholders and Custodians
Contact Details:
Mr. Wenceslaus Furtado
5 ANNUAL REPORT 2014-2015
Annexure-C: to the Notice dated 14 August 2015- Route Map for Shop in Park Mallth
Shop in Park Narth
Azadpur
Mah
ara
ja N
ah
ar S
ing
h M
arg
Shaheed Udham S
ingh Marg
Wate
r Nahar
Pitampura TV
Tower
Shalimar Bagh
Wazirpur
Block A
Block c
Block GP
Block PP
PoorviPitampura
Block UP
Block WP
Block BM
Block BF
Karnal Byepass
Ou
ter
Rin
g R
oad
Outer R
ing R
oad
Outer R
ing R
oad
Jahangirpuri
JahangirpuriIndustrial Area
Block A-4
RajasthanUdyog Nagar
Block C
Kewal Park
Netaji
Subhash Place
6 ANNUAL REPORT 2014-2015
Explanatory Statement pursuant to the provisions of section 102 of the Companies Act, 2013
Item No.5:
Item No. 6:
Annexure-AA
The Board of Directors of the Company, pursuant to the provisions of Section 161(1) of the Act and the Articles of
Association of the Company, has appointed Ms. Mansi Narang as an Additional Director of the Company with effect from
11 February 2015. In terms of the provisions of Section 161(1) of the Act, Ms. Mansi Narang would hold office up to the
date of the ensuing Annual General Meeting. The Company has received a notice in writing along with the deposit of
requisite amount under Section 160 of the Act proposing the candidature of Ms. Mansi Narang for the office of Director of
the Company.
Ms. Mansi Narang is not disqualified from being appointed as a Director in terms of Section 164 of the Act and has given
her consent to act as a Director. Ms. Mansi Narang possesses appropriate skills, experience and knowledge.
Brief resume of Ms. Mansi Narang, nature of her expertise in specific functional areas and names of other public limited
companies in India in which she holds directorships and details of memberships / chairmanships of Board Committees of
the public limited companies in India and other details is enclosed with the notice.
Keeping in view her vast expertise and knowledge, it will be in the interest of the Company that Ms. Mansi Narang is
appointed as a Director.
Save and except Ms. Mansi Narang, Mr. Naveen Narang & Mr. Satish Chander Narang and their relatives, to the extent of
their shareholding interest, if any, in the Company, none of the other Directors / Key Managerial Personnel of the
Company / their relatives are, in any way, concerned or interested, financially or otherwise, in the resolution set out at
Item No. 5 of the Notice. The Board recommends the Ordinary Resolution set out at Item No. 5 of the Notice for approval
by the shareholders.
The members are requested to recall their approval accorded for making preferential allotment of 14,74,460 equity shares
of 10/- each at an issue price of 70/- per equity share (including premium of . 60/- per equity share) to certain Non
Promoter allottees. Out of which application of 3,85,700 equity shares was made by M/s Ranjitgarh Finance Company
Private Limited and the application for 3,00,000 equity shares was made by M/s Nau Nidh Finance Limited, by way of
Special resolution passed in the Extraordinary General Meeting held on 25 June 2014, in accordance to the provisions of
Regulation 73 (1) (e) of the SEBI (Issue of Capital and Disclosure Requirements), Regulation 2009 (including any statutory
modification(s) or re-enactment thereof for the time being in force) and further ratified in the Annual General Meeting
held on 29 September, 2014. BSE Limited had granted the in-principal approval for allotment of above said equity shares,
however, the Listing Approval for 3,85,700 equity shares and 3,00,000 equity shares, allotted respectively to M/s
Ranjitgarh Finance Company Private Limited and M/s Nau Nidh Finance Limited is still pending.
As required by BSE, the details of the natural persons who are the ultimate beneficial owner(s)/ person(s) in control of M/s
Ranjitgarh Finance Company Private Limited and M/s Nau Nidh Finance Limited (unlisted body corporate), being the
allottees of preferential allotment, is enclosed as an Annexure with this Annual Report and marked as , the
same is also made available for inspection for all the members from date of dispatch of the notice of AGM and shall also be
open for inspection to all members during the AGM.
th
th
th
For and on Behalf of the Board
Max Heights Infrastructure Limited
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Date : 14 August, 2015 Regd. Off.: SD-65, Tower Apartment,
Place : New Delhi Pitampura,New Delhi-110034
For
th
7 ANNUAL REPORT 2014-2015
DIRECTOR'S REPORTTo,
The Members of
Max Heights Infrastructure Limited
Your Directors have pleasure in presenting the 34 Director's Report of your Company together with the Audited
Statement of Accounts and the Auditors' Report of your company for the financial year ended, 31st March, 2015.
th
1. FINANCIAL HIGHLIGHTS AND STATE OF COMPANY'S AFFAIRS
(a) ( Amount in )
Particulars Current year Previous Year
Sales 4,61,79,834.00 3,54,58,150.87
Other Income 1,15,510.00 69,054.00
Total Income 4,62,95,344.00 3,55,27,204.87
Depreciation 12,21,642.00 11,88,616.00
Tax
Current Tax 20,94,250.00 17,68,880.00
Earlier years tax (5,257.00) ---
Deferred Tax (4,01,481.00) 11,800.00
Profit/(Loss) after Tax 47,79,178.52 39,74,780.47
Earnings per share ( )
Basic
Diluted
0.31
0.31
0.28
0.28
(b) During the year, your Company recorded Total Revenue of (previous year ).
The Company recorded a Net Profit of during the financial year ended 31 March, 2015 as
compared to a Net Profit of in the previous year.
(c) During the year, the Company raised further capital by issuing 14,72,550 Equity shares of 10/- each for cash at a
premium of 60/- per share, aggregating to 10,30,78,500/- on preferential allotment basis. However, out of the
equity shares issued as mentioned above the Listing Approval for 3,85,700 equity shares and 3,00,000 equity
shares, allotted respectively to M/s Ranjitgarh Finance Company Private Limited and M/s Nau Nidh Finance
Limited is still pending. As required by BSE, a ratification resolution is proposed to be passed at ensuing AGM
giving the details of the natural persons who are the ultimate beneficial owner(s)/ person(s) in control of M/s
Ranjitgarh Finance Company Private Limited and M/s Nau Nidh Finance Limited (unlisted body corporate), being
the allottees of preferential allotment.
After the above issue, the total paid up share capital of the Company stands at 15,60,92,250/-. The proceeds are
being utilized for its present business operations.
(d)
For the financial year ended 31 March, 2015, the Company is not proposing to carry any amount to the General
Reserve Account.
(e)
The Board in its meeting held on 12 September 2014, declared an interim dividend of 2% (Two percent) per equity
share, already paid during the year, for the financial year ended 31 March 2015. Since the Board does not
recommend any further dividend, thus the Board recommends for approval of members the said interim dividend
as the final dividend.
All the shareholders/ Members, whose interim dividend has remain unpaid/ unclaimed, may contact the
Company Secretary for issuance/ change of Dividend Warrants.
4,62,95,344.00/- 3,55,27,204.87/-
47,79,178.52/-
39,74,780.47/-
Transfer To Reserves In Terms Of Section 134 (3) (J) Of The Companies Act, 2013
Dividend
st
st
th
st
8 ANNUAL REPORT 2014-2015
(f)
There are no material changes from the end of Financial Year till the date of this report
2.
During the year under report, your Company did not accept any deposits from the public in terms of the provisions
of Chapter V of the Companies Act, 2013.
3.
During the year Ms. Mansi Narang (DIN : 07089546) was appointed as the Additional Director on the Board
of the Company on 11 February 2015, further the Board recommends her appointment as Director in the
ensuing AGM.
Ms. Bernadette Dominic, Company Secretary was elevated as the Chief Financial Officer of the Company
with effect from 21 March, 2015. Further consequent to the resignation of Ms. Bernadette Dominic (ACS
31629) from the post of Company Secretary & CFO of the Company w.e.f. 10 April 2015, Ms. Jaspreet Kaur
(ACS 38684) was appointed as the Company Secretary of the Company on 3 June 2015.
Further the Board, on recommendation of Nomination & Remuneration Committee, in its Meeting held on
14 August 2015,appointed Mr. Naveen Narang Managing Director of the Company as the CFO.
In accordance with the provisions of Section 152(6) of the Act and the Articles of Association of the
Company, Mr. Naveen Narang (DIN: 00095708) will retire by rotation at the ensuing Annual General
Meeting ('AGM') of the Company and, being eligible, offers himself for re-appointment. Your Board has
recommended his re-appointment.
The Independent Directors of your Company have confirmed that they meet with the criteria of
Independence as prescribed under Section 149(6) of the Act read with Rule 5 of the Companies
(Appointment and Qualification of Directors) Rules, 2014.
Framework for Familiarization Programme for the Independent Directors is made available on the website
of the Company http://www.maxheights.com/Policies.aspx
The Nomination and Remuneration Committee has adopted the attributes and qualifications as provided
in Section 149(6) of the Act and Rule 5 of the Companies (Appointment and Qualification of Directors)
Rules, 2014, in respect of Independent Directors. The Committee has also adopted the same attributes
and qualifications, to the extent applicable, in respect of Non-Independent Directors.
All the Non-Executive Directors of the Company, fulfil the fit and proper criteria for appointment as
Directors. Further, all Directors of the Company, other than Independent Directors, are liable to retire by
rotation. One-third of the Directors who are liable to retire by rotation, retire every year and are eligible for
re-election.
The Board, on the recommendation of the Nomination and Remuneration Committee, approved the
Remuneration Policy for the Directors, Key Managerial Personnel and other employees of the Company, a
copy of which is enclosed as to this Report.
The Board carried out annual performance evaluation of its own performance and that of the individual
Directors as also functioning of the Board Committees, as required in terms of Section 134(3) (p) of the Act.
The performance evaluation of the Board and individual Directors was based on criteria approved by the
Nomination and Remuneration Committee. The Directors expressed their satisfaction with the overall
evaluation process.
Material Changes And Commitments
PUBLIC DEPOSITS
DIRECTORS AND KEY MANAGERIAL PERSONNEL
(a) Changes in Directors and Key Managerial Personnel during the year
(b) Retirement by rotation
(c) Declaration of Independence by the Independent Directors
(d) Attributes, qualifications and appointment of Directors
(e) Remuneration Policy
Annexure: I
(f) Board Evaluation
th
st
th
rd
th
9 ANNUAL REPORT 2014-2015
4.
During the year ended 31st March, 2015, 10 (Ten) meetings of the Board were held. Details of the same are
available in the Corporate Governance Report section of the Annual Report.
5.
Presently, the Committee has three Board Committees with the following members.:
NUMBER OF BOARD MEETINGS
BOARD COMMITTEES
Audit Committee
Mr. Dinesh Kumar, Chairman
Mr. Naveen Narang, Member
Mr. Mukul Dhamija, Member
Mr. Rakesh Pahwa, Member
Nomination and Remuneration Committee
Mr. Mukul Dhamija, Chairman
Mr. Satish Chander Narang, Member
Mr. Dinesh Kumar, Member
Mr. Rakesh Pahwa, Member
Shareholders/ Investor’s Grievance Committee
Mr. Satish Chander Narang, Chairman
Mr. Dinesh Kumar, Member
Mr. Mukul Dhamija, Member
Mr. Rakesh Pahwa, Member
6.
7.
8.
DIRECTORS' RESPONSIBILITY STATEMENT
.
CONSOLIDATED FINANCIAL STATEMENT
SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES
As required under Section 134(5) of the Act, your Directors confirm having: -
i) followed in the preparation of the Annual Accounts, the applicable Accounting Standards with proper
explanation relating to material departures, if any;
ii) selected such accounting policies and applied them consistently and made judgements and estimates that
are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the
end of the financial year and of the profit of the Company for that period;
taken proper and sufficient care for the maintenance of adequate accounting records in accordance with
the provisions of the Act for safeguarding the assets of your Company and for preventing and detecting
fraud and other irregularities;
prepared the Annual Accounts on a going concern basis; and
proper systems have been devised to ensure compliance with the provisions of all applicable laws and such
systems are adequate and operating effectively
having laid down the internal financial controls to be followed by the Company and such internal financial
controls are adequate and operating effectively.
In accordance with the Companies Act, 2013 (“the Act”) and Accounting Standard (AS) - 21 on Consolidated
Financial Statements read with AS - 23 on Accounting for Investments in Associates, the audited consolidated
financial statement is provided in the Annual Report.
As at March 31, 2015, your Company had 3 (Three) Subsidiary Companies i.e., Max Heights Promoters Private
Limited, Max Heights Township & Projects Private Limited, Icon Realcon Private Limited and 1 (One) Associate
Company i.e., Max Heights Developers Private Limited.
The Board of directors of the Company has by resolution passed in its meeting held on 14 August 2015 given
consent for not attaching the Balance Sheets of the subsidiaries concerned.
iii)
iv)
v)
vi)
th
10 ANNUAL REPORT 2014-2015
PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES
LISTING INFORMATION
11. DEMATERIALIZATION OF SHARES
12. CORPORATE GOVERNANCE
Annexure – II
MANAGEMENT DISCUSSION & ANALYSIS REPORT
RISK MANAGEMENT
15. INTERNAL FINANCIAL CONTROLS & INTERNAL AUDIT
A report on performance and financial position of each of the subsidiaries, associates and the joint venture
Companies as per the Companies Act, 2013 is provided as Annexure: A to the consolidated financial statements
hence not reproduced here for the sake of brevity. Please refer (AOC-1) annexed to the Consolidated Financial
Statements Section in the Annual Report.
The Annual Accounts of the subsidiary companies and the related detailed information shall be made available on
request to the shareholders of the Company and shall also be available at the registered office of the Company for
inspection.
The policy determining the material subsidiaries as approved is available on the website of the Company at
weblink
The Company provides a gender friendly workplace, during the year under review, there were no cases filed
pursuant to Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
None of the employees of your Company is covered under the provisions of Rule 5(2) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014.
The Equity Shares of the Company are listed on Bombay Stock Exchange Limited and Calcutta Stock Exchange
Limited. However the Application for delisting of the equity shares of the Company from the Calcutta Stock
Exchange Limited is pending with the Exchange.
The payment of Listing fees for year 2015-16 has been made to Bombay Stock Exchange.
The securities of the Company are admitted with NSDL and CDSL, the ISIN allotted to the Company is
INE393F01010.
To comply with the conditions of Corporate Governance, pursuant to Clause 49 of the Listing Agreement with the
Stock Exchanges, a Report on Corporate Governance and Auditor's Certificate, are included in the Annual Report
as to the Board Report.
Management's Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the
Listing Agreement with the Stock Exchanges in India, is presented in a separate section forming a part of the
Annual Report.
The Board has approved the Risk Management Policy of the Company. The Company's risk management
framework is designed to address risks intrinsic to operations, financials and compliances arising out of the overall
strategy of the Company. The Company manages, monitors and reports on the principal risks and uncertainities
that can impact its ability to achieve its objectives. The responsibility for management of risks vests with the
Managers/ officers responsible for the day-to-day conduct of the affairs of the Company. Risk focused audits are
carried out periodically by the Internal Auditors, which lead to identification of areas where risk management
processes need to be strengthened. Annual update is provided to the Board on the effectiveness of the Company's
risk management systems and policies.
The Company has adequate internal financial controls with respect to the financial statements, commensurate
with the size and scale of the operations of the Company. During the year such controls were tested and no
reportable material weakness in operation has been observed. Internal audit of the Company has been carried out
during the year. The Audit Committee reviews the internal audit findings, provides guidance on internal controls
and ensures that the internal audit recommendations are implemented.
http://www.maxheights.com/Policies.aspx
9.
10.
13.
14.
11 ANNUAL REPORT 2014-2015
16.
17.
18.
19.
20.
21.
PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS
RELATED PARTY TRANSACTIONS
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS / COURTS / TRIBUNALS
EXTRACT OF ANNUAL RETURN
Annexure: IV
AUDITORS AND AUDIT REPORT
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
The details of the investments made during the year ended 31 March, 2015 are given in Note No. 11 & 14 of the
Notes to Accounts of Standalone Financial Statements.
During the year ended 31 March, 2015, all the contracts / arrangements/ transactions entered by the Company
during the financial year with related parties were in ordinary course of business / on an arm's length basis.
The Policy on materiality of related party transactions and dealing with related party transactions as approved by
the Board is available on the website of the Company at weblink
During the year under review, no significant or material orders were passed by the Regulators / Courts / Tribunals
which would impact the going concern status of the Company and its future operations.
The details forming part of the extract of the Annual Return in Form MGT-9 are provided under to
this Report.
The Company's Auditors, M/s Deepak Narang & Associates, Chartered Accountants, were appointed at the 33
AGM to hold such office till the conclusion of the 36th AGM. Your Board, in terms of Section 139 of the Act, on the
recommendation of the Audit Committee, has recommended for the ratification of the Members the
appointment of M/s Deepak Narang & Associates, Chartered Accountants from the conclusion of the ensuing
AGM till the conclusion of the 34th AGM. The Board, in terms of Section 142 of the Act, on the recommendation of
the Audit Committee, has also recommended for the approval of the Members the remuneration of M/s Deepak
Narang & Associates, Chartered Accountants, for the financial year 2015-16.
The comments made by the Auditors' in their Report are self explanatory and do not call for any further comments.
The Auditors' Report does not contain any qualification, reservation or adverse remark.
CONSERVATION OF ENERGY:
Steps taken on conservation of energy and impact thereof: Efforts to conserve electricity by operating only
necessary lights, fittings and fixtures were made during the financial year 2014-15.
Steps taken by the company for utilizing alternate sources of energy: NIL
Capital investment on energy conservation equipment: NIL.
TECHNOLOGY ABSORPTION:
Efforts, in brief, made towards technology absorption and benefits derived as a result of the above efforts,
e.g. product improvement, cost reduction, product development, import substitution, etc : Nil
In case of imported technology (imported during the last 3 years reckoned from the beginning of the
financial year), following information may be furnished:
A) Details of technology imported - NIL
B) Year of import –NIL
C) Whether the technology been fully absorbed - NIL
D) If not fully absorbed, areas where absorption has not taken place, and the reasons therefore – NIL
III) Expenditure incurred on research and development – NIL
There were no foreign exchange earnings or outflow during the year.
st
st
rd
The details in of material transactions entered into by the Company with its related party are provided in
to this Report.
AOC-2
Annexure: III
http://www.maxheights.com/Policies.aspx
(I)
(II)
12 ANNUAL REPORT 2014-2015
22.
23.
24.
SECRETARIAL AUDITOR & SECRETARIAL AUDIT REPORT
Annexure: V
ESTABLISHMENT OF VIGIL MACHANISM
ACKNOWLEDGEMENT
For and on Behalf of the Board
Max Heights Infrastructure Limited
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693Date : 14 August, 2015 Regd. Off.: SD-65, Tower Apartment,
Place : New Delhi Pitampura,New Delhi-110034
In terms of Section 204 of the Companies Act, 2013, the Company has appointed M/s PB & Associates, Company
Secretaries, as the Secretarial Auditor of the Company for the financial year 2014-15. The Secretarial Audit Report
given by M/s PB & Associates, Company Secretaries, in MR- 3 is provided under to this Report.
The comments made by the Secretarial Auditor are self explanatory and do not require any further comments.
The Vigil Mechanism Policy of the Company is formulated in terms of section 177 (9) of the Companies Act, 2013
read with the provisions of the Listing Agreement with the Stock Exchange(s) and thereby also incorporates
Whistle Blower Policy. That as per the said policy protected disclosures can be made by the whistle blower to the
dedicated e-mail / telephone line/ letter to Chairman of Audit Committee.
The Policy on Vigil Mechanism and Whistle Blower Policy as approved by the Board is available on the website of
the Company at weblink
Your directors would like to express their sincere appreciation for the assistance and corporation received from the
financial institutions, banks, Government authorities, customers, vendors and members during the year under
review. Your directors also wish to place on record their deep sense of appreciation for the committed services by
the Company's executives, staff and workers.
For
http://www.maxheights.com/Policies.aspx
th
13 ANNUAL REPORT 2014-2015
'Annexure-I'
(DIRECTORS, KMP & SENIOR MANAGEMENT)
INTRODUCTION
OBJECTIVE
PART – A
POLICY FOR APPOINTMENT AND REMOVAL OF DIRECTOR, KMP AND SENIOR MANAGEMENT
APPOINTMENT
TERM/ TENURE
EVALUATION
NOMINATION & REMUNERATION POLICY
In pursuance of the Company's philosophy to consider its employees as its invaluable assets, to pay equitable
remuneration to all Directors, Key Managerial Personnel (KMP) and employees of the Company, to harmonize the
aspirations of human resources consistent with the goals of the Company and, in terms of the provisions of the Companies
Act, 2013, this policy on nomination and remuneration of Directors, Key Managerial Personnel and Senior Management
has been formulated by the Nomination & Remuneration Committee and approved by the Board of Directors.
The objective and purpose of the Policy are as given below:
1. To lay down criteria and terms and conditions with regard to identifying persons who are qualified to become
Directors (Executive and Non-Executive) and persons who may be appointed in Senior Management and Key
Managerial positions and to determine their remuneration.
2. To carry out evaluation of the performance of Directors, as well as Key Managerial and Senior Management
Personnel.
3. To provide them reward linked directly to their effort, performance, dedication and achievement of
Organization's goals as entrusted on them.
4. To retain, motivate and promote talent and to ensure long term retention of talented managerial persons and
create competitive advantage. In the context of the aforesaid objectives the following policy has been framed
and recommended by the Nomination & Remuneration Committee and adopted by the Board of Directors.
1. The candidate for a position at Director, KMP or Senior Management level is met by the Managing Director in
consultation with the other Directors. The interview is targeted at assessing the candidate on his/ her functional
& leadership capabilities and cultural fitment to the organization.
2. The MD assesses the shortlisted candidates.
3. The selected candidate's details and the proposed compensation is shared with the Nomination &
Remuneration Committee for their review and suggestions. The same is shared with the Board at the next board
meeting.
The tenure for Directors shall be governed by the terms defined in the Companies Act, 2013. However, the tenure for other
KMP and Senior Management Personnel will be governed by Terms of Appointment in accordance with the Recruitment
Policy of the Company.
The performance of the KMP and Senior Management Personnel is evaluated at regular intervals (half yearly/ yearly) by
the Managing Director. The performance evaluation of Independent Directors shall be done by the Board, excluding the
Director being evaluated, basis the contributions made to the Board deliberations on various matters including business
strategy, financial strategy, operations, cost and risk management, etc., and suggestions given in this regard.
14 ANNUAL REPORT 2014-2015
REMOVAL
RETIREMENT
PART – B
POLICY RELATING TO EVALUATION AND REMUNERATION OF THE KMP AND SENIOR MANAGEMENT PERSONNEL
EVALUATION PROCESS:
Due to reasons for any disqualification mentioned in the Companies Act, 2013, rules made thereunder or under any other
applicable Act, rules and regulations, the Managing Director may recommend, to the Committee and the Board with
reasons recorded in writing, removal of a Director, subject to the provisions and compliance of the said Act, rules and
regulations.
For other KMP or Senior Management Personnel, the removal will be governed by the Terms of Appointment in
accordance with the Recruitment Policy of the Company and the subsequent approval of the Managing Director.
The Director, KMP and Senior Management Personnel shall retire as per the applicable provisions of the Companies Act,
2013 and the prevailing policy of the Company. The Managing Director will have the discretion to retain the Director, KMP,
Senior Management Personnel in the same position / remuneration or otherwise even after attaining the retirement age,
for the benefit of the Company.
The three Point Rating scale for performance review of Executive Director, KMP and Senior Management is to be followed:
1. Rating on Basic Job Responsibilities: indicating whether the basic job responsibilities have been met during the
year.
2. Rating on Goals: Annual rating on each goal on a five-point scale. Weighted average of the ratings is calculated to
arrive at a 'Weighted Goal Score'.
3. Rating on Capabilities Factors: The qualitative aspects of the performance is assessed using the Capabilities
Factors by the supervisor on a five-point scale.
Based on a holistic view of the Three Point Rating, the supervisor provides an overall Rating. This rating is reviewed by the
Managing Director along with the immediate reporting officer, who does a Qualitative review of the performance based
on the efforts put in by the employee, results achieved and impact of the external and internal factors, to arrive at a 'Final
Annual Rating'.
The revision in the total remuneration is directly linked to the 'Final Annual Rating' for all employees.
1. The remuneration/ compensation/ commission etc. to the KMP and Senior Management Personnel will be
determined by the Managing Director in consultation with other Directors (except the Independent Directors)
in accordance with the Recruitment Policy of the Company, which is based upon the Final Annual Rating,
employee potential and market benchmark compensation. The revised remuneration is shared with the
Nomination & Remuneration Committee for review.
2. The remuneration/ compensation/ commission etc. shall be subject to the prior/ post approval of the
shareholders of the Company and Central Government, wherever required.
15 ANNUAL REPORT 2014-2015
'ANNEXURE – II'
2.
MAX HEIGHTS INFRASTRUCTURE LIMITED
Report on Corporate Governance
Company's Philosophy on Code of Governance:
The Board of Directors:
In accordance with Clause 49 of the Listing Agreement with BSE Limited (BSE) and the Calcutta Stock Exchange Limited
(CSE), the report containing the details of Corporate Governance system is as follows:
It has been a constant endeavor on the part of the Company to achieve excellence in Corporate Governance by
following the principles of transparency, accountability and integrity in functioning so as to constantly enhance
value for all stakeholders and fulfill the social obligations entrusted upon the corporate sector.
The Company has also complied with the requirements of Corporate Governance Code, the disclosure
requirements of which are given below:
i. The Chairman of the Company is a promoter non-executive director and one half of the Directors on the Board
are independent directors.
ii. The Composition of the Board of Directors of the Company is as per the following details:
1.
S.
No.Name of Director Category
Executive/ Non
Executive
Remuneration paid
during the FY 2014-
15 (In Rs.)
1 Mr. Satish Chander Narang Promoter-Chairman Non Executive Nil
2 Mr. Naveen NarangPromoter-Managing
DirectorExecutive 8,40,000
3 Ms. Mansi Narang1
Promoter Non Executive Nil
4 Mr. Dinesh Kumar Independent Non Executive Nil
5 Mr. Mukul Dhamija Independent Non Executive Nil
6 Mr. Rakesh Pahwa Independent Non Executive Nil
Note:
1. Ms. Mansi Narang, was appointed as the Additional Director of the Company w.e.f. 11 February, 2015.
iii. The details of directorship, committee memberships and chairmanship of various committees held by the
Directors is as follows:
th
S. No. Name of DirectorNumber of
Directorship
Number of Committee
Membership Chairmanship
1 Mr. Satish Chander Narang 12 1 1
2 Mr. Naveen Narang 17 1 -
3 Ms. Mansi Narang1
1 - -
4 Mr. Dinesh Kumar 2 2 1
5 Mr. Mukul Dhamija 1 2 1
6 Mr. Rakesh Pahwa 3 3 -
Note:
1. Ms. Mansi Narang, was appointed as the Additional Director of the Company w.e.f. 11 February, 2015.
iv. The details of the Board Meeting/s held during the year and attendance thereat are as follows:
th
16 ANNUAL REPORT 2014-2015
S.
No.Date of Board Meeting
Total No. of
Directors
No. of Directors
attended the meeting
1 15th
April, 2014 5 5
2 29 May, 2014th
5 5
3 25th
June, 2014 5 5
4 14th
August, 2014 5 5
5 1st
September, 2014 5 5
6 12th
September, 2014 5 5
7 11th
November, 2014 5 5
8 4th
December, 2014 5 5
9 11th
February, 2015 5 5
10 21st
March, 2015 6 6
v. The Board Meetings were held with a gap not exceeding 120 (One Hundred and Twenty Days) between two
meetings.
vi. The details of the Board Meetings attended by each of Director are as follows:
S.
No.Name of Director
No. of Board
Meetings held
Total No. of Meetings
attended
1 Mr. Satish Chander Narang 10 10
2 Mr. Naveen Narang 10 10
3 Ms. Mansi Narang1
1 1
4 Mr. Dinesh Kumar 10 10
6 Mr. Mukul Dhamija 10 10
7 Mr. Rakesh Pahwa 10 10
Note:
Ms. Mansi Narang, was appointed as the Additional Director of the Company w.e.f. 11 February, 2015.
vii. The last Annual General Meeting held on 29 September 2014 was attended by Mr. Satish Chander Narang, Mr.
Naveen Narang, Mr. Dinesh Kumar and Mr. Mukul Dhamija.
viii. Code of Conduct
The Code of Conduct for all Directors and senior management personnel, laid down by the Board, is available on
the Company's website ( ). The Code of Conduct is applicable to all Board Members and
senior management executives. The Code is circulated annually among all Board members and senior
management; the compliance is affirmed by them annually. A declaration signed by Mr. Naveen Narang
Managing Director & CFO regarding affirmation of the compliance with the Code of Conduct by the Board
members and senior management. The same is provided as to this report.
i. The terms of reference of Audit Committee are stipulated by the Board of Directors, in accordance with the
clause 49 IIID of the Listing Agreement.
ii. The Composition of audit committee and the details of the meeting attended by the Directors are given below:
1.th
th
www.maxheights.com
Annexure IA
3. Audit Committee:
Name of Member CategoryNo. of Meetings held
during 2014-2015
No. of Meeting
attended during
2014-2015
Dinesh KumarIndependent Non Executive
Director – Chairman5 5
Naveen NarangPromoter Executive Director –
Member5 5
Mukul DhamijaIndependent Non Executive
Director – Member5 5
Rakesh PahwaIndependent Non Executive
Director – Member5 5
17 ANNUAL REPORT 2014-2015
iii. The details of the Audit Committee Meetings during the year and attendance thereat are as follows:
S. No. Date of Audit Committee MeetingTotal No. of
Directors
No. of directors
attended the
meeting
1. 29th
May, 2014 4 4
2. 14th
August, 2014 4 4
3. 12th
September, 2014 4 4
4. 11th
November, 2014 4 4
5. 11th
February, 2015 4 4
4. Nomination and Remuneration Committee:
i. The terms of reference of the Nomination and Remuneration Committee are stipulated by the Board of
Directors, in accordance with the Listing Agreement.
ii. The Composition of Nomination and Remuneration Committee and the details of the meeting attended by the
Directors are given below:
Name of Member CategoryNo. of Meetings held
during 2014-2015
No. of Meeting
attended during
2014-2015
Mukul DhamijaIndependent Non Executive
Director – Chairman1 1
Satish Chander NarangPromoter Non Executive
Director – Member1 1
Dinesh KumarIndependent Non Executive
Director – Member1 1
Rakesh PahwaIndependent Non Executive
Director – Member1 1
iii. The details of the Nomination and Remuneration Committee Meeting during the year and attendance thereat
are as follows:
S. No.Date of Nomination and
Remuneration Committee Meeting
Total No. of
Directors
No. of directors
attended the
meeting
1. 29th
May, 2014 4 4
iv. Max pays remuneration to Executive Director(s) by way of salary and perquisites, based on the approval of the
Board and the Shareholders of the Company, which is separately disclosed in the financial statements. The
remuneration paid to Executive Director(s) is determined keeping in view the industry benchmark and the
relative performance of the Company. The minutes of the Committee are reviewed by the Board.
v. Details of payment of remuneration to all the directors are already mentioned in Clause No. 2 of this report.
The details of the Shareholders/ Investor's Grievance Committee during the year and attendance thereat are as
follows:
5. Shareholders/ Investor's Grievance Committee
18 ANNUAL REPORT 2014-2015
S. No.Date of Shareholders/ Investor’s
Grievance Committee Meeting
Total No. of
Directors
No. of directors
attended the
meeting
1. 15th
April, 2014 4 4
2. 29th
May, 2014 4 4
3. 25th
June, 2014 4 4
4. 14th
August, 2014 4 4
5. 1st
September, 2014 4 4
6. 12th
September, 2014 4 4
7. 11th
November, 2014 4 4
8. 4th
December, 2014 4 4
9. 11th
February, 2015 4 4
10. 21st
March, 2015 4 4
i. The Composition of Shareholders Committee and details of the meeting attended by Director/s are as follows:
Name Category
No. of Meetings
held during 2014-
2015
No. of Meeting
attended during the
year 2014 – 2015
Satish Chander NarangPromoter Non Executive Director
– Chairman10 10
Dinesh KumarIndependent Non Executive
Director – Member10 10
Mukul DhamijaIndependent Non Executive
Director – Member10 10
Rakesh PahwaIndependent Non Executive
Director – Member10 10
ii. Name and designation of Compliance Officer
Name and Designation Ms. Jaspreet Kaur, Company Secretary
Telephone 011-27314646, 27312522
Fax 011-27315115
E-mail Id [email protected]
iii.
During the year the Company has not received any complaints from any shareholders.
iv.
Not Applicable
v.
Not Applicable
All subsidiary companies are Board managed with their Boards having the rights and obligations to manage
such companies in the best interest of their stakeholders. The Company monitors performance of subsidiary
companies, , by the following means:
Financial statements, in particular investments made by unlisted subsidiary companies, are
reviewed quarterly by the Company's Audit Committee.
Minutes of Board meetings of unlisted subsidiary companies are placed before the Company's
Board regularly.
Number of shareholders' complaints received so far
Number not solved to the satisfaction of shareholders:
Number of pending complaints:
Subsidiary Companies' Monitoring Framework:6.
inter alia
!
!
19 ANNUAL REPORT 2014-2015
!
i.
A statement containing all significant transactions and arrangements entered into by unlisted
subsidiary companies is placed before the Company's Board.
Location and time, where last three AGMs held.
7. General Body meetings:
Date Location Time Special Resolution Passed
29/09/2014
Twist ‘n’ Turn, Banquet, Shop in
Park Mall, Shalimar Bagh, New
Delhi – 110088
11:00 A.M. No Special Resolution Passed
21/09/2013
Narsingh Sewa Sadan, K P Block
Community Centre, Pitampura,
New Delhi -110034
9:00 A.M.
Yes, Special Resolution was passed
for the re -appointment of
Mr. Manan Narang as the Managing
Director of the Company for a term
of three years w.e.f 1st
April, 2013.
29/09/2012
Jagmohan Farms, Village Sawda,
Ghewra, Nizampur Road, New
Delhi – 110081
9:30 A.M. No Special Resolution Passed
ii. The Company had convened the Extra Ordinary General Meeting on 25 June 2014, in which the following
businesses were transacted:
The Company had passed Ordinary Resolution under Section 13 and Section 61 of the Companies Act 2013
for increasing the Authorised Share Capital of the Company from 14,65,00,000/- to 17,00,00,000/- by
creating 23,50,000 Equity Shares of 10/- each.
The Company had passed special resolution under Section 62 and Section 42 of the Companies Act, 2013,
authorizing the Board to make preferential allotment of upto 14,74,460 Equity Shares.
The Company had passed special resolution under Section 196, Section 197 and Section 203 read with
Schedule V of the Companies Act, 2013, for the appointment of Mr. Naveen Narang as Managing Director
of the Company.
During the year there was no materially significant related party transaction/s that may have potential conflict
with the interests of company at large.
The Company has complied with the requirements of the Stock Exchanges or SEBI or any other statutory
authority, on matter/s related to capital markets, during the last three years. BSE has sent an E-Mail on 21 July,
2015, imposing a compounding fee of 11,400/- for delayed filing of quarterly results for 31 March 2015 and
the Company had made the necessary payment to BSE.
The Company has adopted a Whistle Blower policy to provide a mechanism whereby the employees are given a
direct access to the Chairman and the Audit Committee to report about the unethical behaviour, fraud and
violation of Company's Code of Conduct and to provide sufficient provisions for the protection against the
victimization of employees who avail such mechanism and it is affirmated that no personnel has been denied
access to the audit committee.
The Company has complied with mandatory requirements of clause 49 of the Listing Agreement.
The certificate required under Clause 49(IX) of the Listing Agreement, duly signed by Mr. Naveen Narang, the
th
st
st
l
l
l
8.
Related Party Transaction
Statutory Compliances, Penalties and Structures
Whistle Blower policy
Details of compliance with mandatory requirements and adoption of the non mandatory requirements of
this clause.
CEO and CFO Certification
Disclosures:
20 ANNUAL REPORT 2014-2015
Managing Director & CFO of the Company, was placed before the Board. The same is provided as to
this report.
The quarterly results, published in the Performa prescribed by the Listing Agreement are approved and taken on
record by the Board of Directors. The approved results are forthwith sent to the Stock Exchange where the
shares of the Company are listed.
The quarterly results are normally published in Business Standard (English) and Business Standard (Hindi)
newspaper.
The results are also posted on the Company's website .
The Annual General Meeting of the Company is scheduled to be held on Saturday, the 12 day of
September, 2015 at 12:30 p.m. at Twist 'n' Turn, Banquet, Shop in Park Mall, Shalimar Bagh, New Delhi
- 110088.
The Financial Year of the Company ended on 31 March, 2015.
The register of members and share transfer books of the Company will remain closed from
Wednesday 9 September 2015 to Saturday 12 September 2015 (both days inclusive).
The Board had declared Interim dividend on 12 day of September, 2014, based on the current profits
of the Company @ 2% i.e. 0.20/‐ (Twenty Paisa Only) per equity share of the face value of
10/‐ each. The Board has not declared further dividend thus the interim dividend be treated as final
dividend for the financial year 31 March 2015. The Board has recommended the same for approval of
the Members at the ensuing AGM.
The Company's shares remain listed on the following two Stock Exchanges in India:
Bombay Stock Exchange, 25 Floor, P J Towers Dalal Street, Mumbai, Maharashtra- 400001, and
Calcutta Stock Exchange, 7 Lyons Range, Kolkata-700001.
Annexure IB
9.
Quarterly Results
Newspapers
10.
AGM : Date, time and venue
ii. Financial year
iii. Date of Book closure
iv. Dividend Payment Date
Listing on Stock Exchanges
*
*
Stock Code:
Means of communication:
General Shareholder Information:
www.maxheights.com
i.
v.
vi.
th
st
th th
th
st
thl
l
The Board of Directors of the Company passed a resolution on 4 September 2012 for delisting of
securities from Calcutta Stock Exchange pursuant to the provisions of the Securities and Exchange
Board of India (Delisting of Equity Shares) Regulations 2009 and the application for the same is
pending with the Exchange.
th
i. Bombay Stock Exchange 534338
ii. Calcutta Stock Exchange 28191
iii. International Securities Identification Number
(ISIN) of Equity SharesINE393F01010
21 ANNUAL REPORT 2014-2015
vii. Market Price Data: High, Low during each month in last financial year
BOMBAY STOCK EXCHANGE
Month High Low No. of Shares
Apr-14 34.45 25 164279
May-14 50 24.05 425643
Jun-14 52 39.15 127981
Jul-14 55.45 46.5 122814
Aug-14 51 46.6 184772
Sep-14 57.95 45 399471
Oct-14 52.1 44 391431
Nov-14 53 44.75 184123
Dec-14 53 42.8 135287
Jan-15 54.55 48.1 29579
Feb-15 67.8 51 204703
Mar-15 58.1 50.5 199243
* Information taken from the website of BSE i.e.www.bseindia.com.
The Share of the Company continued to be listed on the Calcutta Stock Exchange, however no trading was carried
out during the financial year, thus no data is available in respect of market price.
viii. Registrar and Transfer Agents
Name and Address
Skyline Financial Services Private Limited
Add: D-153/A, 1st
Floor, Okhla Industrial Area, Phase – I, New
Delhi – 110020
Telephone +91-(0) 11-6473 2681/6473 2682
Fax +91-(0) 11-2681 2682
E-mail Id [email protected]
ix. Share Transfer System
x. Distribution of shareholding as on 31 March, 2015
Securities lodged for transfer at the Registrar's address are normally processed within 15 days from
the date of lodgment, if the documents are clear in all respects.st
S.
No.Shareholding
No. of
Shareholders
% to total no. of
shareholders
No. of Shares
held% of shareholding
1 upto 500 629 83.31 52158 0.33
2 501 to 1000 10 1.32 8507 0.05
3 1001 to 2000 13 1.72 20924 0.13
4 2001 to 3000 5 0.66 12711 0.08
5 3001 to 4000 1 0.13 3800 0.02
6 4001 to 5000 5 0.66 22898 0.15
7 5001 to 10000 7 0.93 42071 0.27
8 10001 & above 85 11.27 15446156 98.97
Total 755 100.00 15609225 100.00
22 ANNUAL REPORT 2014-2015
xi.
xii.
Dematerialization of shares and liquidity
GDRs/ADRs/Warrants or any Convertible instruments
xiii. Plant Locations
xiv. Address for Correspondence
10.
Annexure IC
By the order of the Board
Max Heights Infrastructure Limited
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693Date : 14 August, 2015 Regd. Off.: SD-65, Tower Apartment,Place : New Delhi Pitampura,New Delhi-110034
Total 90.15% of shares of Company are in dematerialsed form out of which 44.78% of shares are
dematerialsed with the CDSL and 45.37% of shares are demateralised with the NSDL.
The Company has not issued GDRs/ADRs/Warrants or any Convertible instruments during the year.
Not Applicable
SD-65, Tower Apartment, Pitampura,
New Delhi – 110034
Ph. No. 011-2731 4646, 2731 2522, 2731 8772
Fax: 011-27315115
The Certificate of Compliance as stipulated under clause 49 of the listing agreement is obtained from Auditors of
the Company M/s Deepak Narang & Associates, Chartered Accountants. The same is provided as to
this report.
For
th
23 ANNUAL REPORT 2014-2015
24 ANNUAL REPORT 2014-2015
Annexure IA
Max Heights Infrastructure Limited
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Date : 14 August, 2015 Regd. Off.: SD-65, Tower Apartment,
Place : New Delhi Pitampura, New Delhi-110034
DeclarationI, Naveen Narang, Managing Director & CFO of the Company , do hereby confirm that the Company has received from all
the members of the Board and Senior Management, for the financial year ended March 31, 2015, a confirmation that they
are in compliance with the Company's Code of Conduct.
By the order of the Board
For
th
Annexure IB
Chief Executive Officer (CEO)/Chief Financial Officer (CFO) certification
Max Heights Infrastructure Limited
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Date : 14 August, 2015 Regd. Off.: SD-65, Tower Apartment,
Place : New Delhi Pitampura,New Delhi-110034
I, Naveen Narang, Managing Director & CFO of Max Heights Infrastructure Limited certify to the Board that:
(a) I have reviewed financial statements and the cash flow statement for the year ended 31st March, 2015 and that
to the best of our knowledge and belief:
(i) these statements do not contain any materially untrue statement or omit any material fact or contain
statements that might be misleading;
(ii) these statements together present a true and fair view of the company's affairs and are in compliance
with existing accounting standards, applicable laws and regulations.
(b) There are, to the best of our knowledge and belief, no transactions entered into by the company during the year
which are fraudulent, illegal or violative of the company's code of conduct.
(c) I accept responsibility for establishing and maintaining internal controls for financial reporting and that I have
evaluated the effectiveness of internal control systems of the company pertaining to financial reporting and I
have disclosed to the auditors and the Audit Committee, deficiencies in the design or operation of such internal
controls, if any, of which I are aware and the steps I have taken or propose to take to rectify these deficiencies.
(d) I have indicated to the auditors and the Audit committee:
(i) significant changes in internal control over financial reporting during the year;
(ii) significant changes in accounting policies during the year and that the same have been disclosed in
the notes to the financial statements; and
(iii) instances of significant fraud of which I have become aware and the involvement therein, if any, of the
management or an employee having a significant role in the company's internal control system over
financial reporting.
By the order of the Board
For
th
ANNUAL REPORT 2014-2015
Annexure IC
CERTIFICATE OF COMPLIANCE FROM AUDITORS AS STIPULATED UNDER CLAUSE 49 OF THE LISTING AGREEMENT WITH
THE STOCK EXCHANGES IN INDIA
CERTIFICATE
To the Shareholders
Max Heights Infrastructure Limited
Deepak Narang & Associates
Chartered Accountants
Firm Regn. No. 016594N
Sd/-
Deepak Narang
Date: 14 August, 2015 Partner
Place: New Delhi M.No.097348
We have examined the compliance of conditions of Corporate Governance by M/s Max Heights Infrastructure Limited for
the year ended on 31 March 2015, as stipulated in clause 49 of the Listing Agreement of the said Company with Bombay
Stock Exchange and Calcutta Stock Exchange (where the shares of the Company were listed).
The Compliance of conditions of Corporate Governance is the responsibility of the Management. Our Examination was
limited to procedures and implementation thereof, adopted by the company for ensuring the compliance of the condition
of Corporate Governance. It is neither an audit nor an expression of opinion on the financial statements of the Company.
In our opinion and to the best of our information and according to the explanations given to us, we certify that the
Company has complied with the conditions of Corporate Governance as stipulated in the above mentioned Listing
Agreement.
We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency
or effectiveness with which the management has conducted the affairs of the Company.
For
st
th
25 ANNUAL REPORT 2014-2015
Form
No
. A
OC
-2
(Pu
rsu
an
t to
cla
use
(h
) o
f su
b-se
ctio
n (
3)
of
sect
ion
13
4 o
f th
e A
ct a
nd
Ru
le 8
(2)
of
the
Co
mp
an
ies
(Acc
ou
nts
) R
ule
s, 2
01
4)
Form
fo
r d
iscl
osu
re o
f p
art
icu
lars
of
con
tra
cts/
arr
an
ge
me
nts
en
tere
d i
nto
by
the
co
mp
an
y w
ith
re
late
d p
art
ies
refe
rre
d t
o i
n s
ub
-se
ctio
n (
1)
of
sect
ion
18
8 o
f th
e C
om
pa
nie
s
Act
, 2
01
3 i
ncl
ud
ing
ce
rta
in a
rms
len
gth
tra
nsa
ctio
ns
un
de
r th
ird
pro
vis
o t
he
reto
1.
De
tail
s o
f c
on
tra
cts
or
arr
an
ge
me
nts
or
tra
ns
ac
tio
ns
no
t a
t a
rm’s
le
ng
th b
as
is
2. D
eta
ils o
f m
ate
rial co
ntr
acts
or
arr
an
gem
en
t o
r tr
an
sacti
on
s a
t arm
’s len
gth
basis
SN
Na
me
(s)
of
the
re
late
d p
art
y a
nd
na
ture
of
rela
tio
nsh
ip
Na
ture
of
con
tra
cts
/
arr
an
ge
me
nts
/
tra
nsa
ctio
ns
Du
rati
on
of
the
co
ntr
act
s /
arr
an
ge
me
nts
/tr
an
sact
ion
s
Sa
lie
nt
term
s o
f th
e c
on
tra
cts
or
arr
an
ge
me
nts
or
tra
nsa
ctio
ns
incl
ud
ing
the
va
lue
, if
an
y
Da
te(s
) o
f a
pp
rova
l
by
th
e B
oa
rd,
if
an
y
Am
ou
nt
pa
id a
s
ad
van
ces,
if
an
y
1M
an
si N
ara
ng
Wif
e o
f th
e D
ire
cto
r o
f th
e C
om
pa
ny
Re
mu
ne
rati
on
01
/04
/20
15
to
10
/02
/20
15
6.0
0 L
acs
30
/04
/20
10
NIL
2H
eri
ka N
ara
ng
Wif
e o
f b
roth
er
of
the
Dir
ect
or
Re
mu
ne
rati
on
01
/04
/20
14
to
31
/03
/20
15
6.0
0 l
acs
30
/04
/20
10
Nil
3
Ma
xhe
igh
ts P
rom
ote
rs P
riva
te
Lim
ite
d
Su
bsi
dia
ry
Inve
stm
en
t in
Eq
uit
y
Sh
are
s0
2/0
8/2
01
42
5.0
0 L
acs
25
/06
/20
14
Nil
4
Sa
tish
Ch
an
de
r N
ara
ng
& S
on
s
H.U
.F.
Dir
ect
or
is k
art
a o
f H
.U.F
.
Re
nt
01
/04
/20
14
to
31
/03
/20
15
4.8
0 L
acs
30
/01
/20
10
Nil
SN
Na
me
(s)
of
the
re
late
d
pa
rty
an
d n
atu
re o
f
rela
tio
nsh
ip
Na
ture
of
con
tra
cts
/arr
an
ge
me
nts
/tra
ns
act
ion
s
Du
rati
on
of
the
con
tra
cts
/
arr
an
ge
me
nts
/
tra
nsa
ctio
ns
Sa
lie
nt
term
s o
f th
e
con
tra
cts
or
arr
an
ge
me
nts
or
tra
nsa
ctio
ns
incl
ud
ing
th
e
valu
e,
if a
ny
Just
ific
ati
on
fo
r e
nte
rin
g
into
su
ch c
on
tra
cts
or
arr
an
ge
me
nts
or
tra
nsa
ctio
ns
Da
te(s
) o
f
ap
pro
val
by
the
Bo
ard
Am
ou
nt
pa
id
as
ad
van
ces,
if a
ny
Da
te o
n w
hic
h t
he
spe
cia
l re
solu
tio
n w
as
pa
sse
d i
n g
en
era
l
me
eti
ng
as
req
uir
ed
un
de
r fi
rst
pro
vis
o t
o
Se
ctio
n1
88
NIL
'An
ne
xure
-III
'
26 ANNUAL REPORT 2014-2015
For
an
d o
n B
eh
alf
of
the
Bo
ard
Ma
x H
eig
hts
In
fra
stru
ctu
re L
imit
ed
For
Sd
/-
Sa
tish
Ch
an
de
r N
ara
ng
Ch
air
ma
n
DIN
: 0
00
95
69
3
Da
te:
14
thA
ug
ust
,2
01
5R
eg
d.
Off
.:S
D-6
5,
Tow
er
Ap
art
me
nt,
Pla
ce:
Ne
wD
elh
Pit
am
pu
ra,N
ew
De
lhi-
11
00
34
Form No. MGT-9
EXTRACT OF ANNUAL RETURN
As on the financial year ended on 31/03/2015
[Pursuant to Section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014]
I. REGISTRATION AND OTHER DETAILS :
i) CIN L67120DL1981PLC179487
ii) Registration Date 28/07/1981
iii) Name of the Company MAX HEIGHTS INFRASTUCTURE LIMITED
iv) Category / Sub-Category of the Company Public Company, Limited by Shares & Having Share Capital
v) Address of the Registered office and contact details SD-65, TOWER APARTMENT, PITAMPURA, NEW DELHI - 110034
Telephone : 011-27314646, 011-27312522
Fax Number : 011-27315115
Email : [email protected]
vi) Whether listed company Yes
vii) Name and Address of Registrar & Transfer Agents ( RTA )
Name of Registrar & Transfer Agents Skyline Financial Services Private Limited
Address
Town / City New Delhi
State Delhi
Pin Code 110020
Telephone +91-(0)11-64732681/64732682--
Fax Number -
Email Address [email protected]
'Annexure-IV'
D-153/A, First Floor, Okhla Industrial Area, Phase-1
+91-(0)11-26812682
27 ANNUAL REPORT 2014-2015
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY :
All the business activities contributing 10 % or more of the total turnover of the company shall be stated: -
SN Name and Description of main products / services NIC Code of the Product/ service % to total turnover of the
company
1 Construction of buildings carried out on own-account basis or on a fee or contract basis 41001 79.38
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES :
[ No. of Companies for which information is being filled = 4]
SN NAME AND ADDRESS OF THE COMPANY CIN/GLN HOLDING/ SUBSIDIARY/
ASSOCIATE
% of shares held Applicable Section
1 Max Heights Township and Projects Private Limited U70109DL2006PTC150424 Subsidiary Nil Section 2(87)(i)
2 Icon Realcon Private Limited U70109DL2007PTC171994 Subsidiary Nil Section 2(87)(i)
3 Max Heights Promoters Private Limited U70102DL2013PTC248086 Subsidiary Nil Section 2(87)(i)
4 Max Heights Developers Private Limited U45400DL2007PTC162066 Associate Nil Section 2(6)
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity) :
A. Category-wise Share Holding
Category of Shareholders No. of Shares held at the beginning of the year No. of Shares held at the end of the year % Change during the year
Demat Physical Total % of Total
Shares
Demat Physical Total % of Total
Shares
A. Promoters
(1) Indian
a) Individual/HUF 8069212 9900 8079112 57.15 8079112 0 8079112 51.76 -5.39
b) Central Govt 0 0 0 0 0 0
c) State Govt (s) 0 0 0 0 0 0
d) Bodies Corp. 0 0 0 0 0 0
e) Banks / FI 0 0 0 0 0 0
f) Any Other…. 0 0 0 0 0 0
Sub-total (A) (1):- 8069212 9900 8079112 57.15 8079112 0 8079112 51.76 -5.39
(2) Foreign
a) NRIs - Individuals 0 0 0 0 0 0
b) Other – Individuals 0 0 0 0 0 0
c) Bodies Corp. 0 0 0 0 0 0
d) Banks / FI 0 0 0 0 0 0
e) Any Other…. 0 0 0 0 0 0
Sub-total (A) (2):- 0 0 0 0 0 0
Total shareholding of
Promoter (A) =
(A)(1)+(A)(2)
8069212 9900 8079112 57.15 8079112 0 8079112 51.76 -5.39
28 ANNUAL REPORT 2014-2015
lakh "
2100190 743550 2843740 20.12 1935223 503550 2438773 15.62 -4.50
c) Others (specify) 317364 0 317364 2.24 319137 0 319137 2.04 -0.20
Sub-total (B)(2):- 4965658 1091905 6057563 42.85 5992508 1537605 7530113 48.24 5.39
Total Public Shareholding
(B)=(B)(1)+(B)(2)
4965658 1091905 6057563 42.85 5992508 1537605 7530113 48.24 5.39
C. Shares held by
Custodian for GDRs &
ADRs
0 0 0 0 0 0
Grand Total (A+B+C) 13034870 1101805 14136675 100.00 14071620 1537605 15609225 100.00 0.00
(*)During the year, the Company has issued 14,72,550 Equity shares on preferential allotment basis, which resulted in change in shareholding % age during the year
52550 98355 150905 1.07 36291 98355 134646 0.86 -0.21
ii) Individual shareholders
holding nominal share
capital in excess of 1
B. Public Shareholding
1. Institutions
a) Mutual Funds 0 0 0 0 0 0
b) Banks / FI 0 0 0 0 0 0
c) Central Govt 0 0 0 0 0 0
d) State Govt(s) 0 0 0 0 0 0
e) Venture Capital Funds 0 0 0 0 0 0
f) Insurance Companies 0 0 0 0 0 0
g) FIIs 0 0 0 0 0 0
h) Foreign Venture Capital
Funds
0 0 0 0 0 0
i) Others (specify) 0 0 0 0 0 0
Sub-total (B)(1):- 0 0 0 0 0 0
2. Non-Institutions
a) Bodies Corp.
i) Indian 2495554 250000 2745554 19.42 3701857 935700 4637557 29.71 10.29
ii) Overseas 0 0 0 0 0 0
b) Individuals
i) Individual shareholders
holding nominal share
capital upto 1 lakh
29 ANNUAL REPORT 2014-2015
B. Shareholding of Promoters
SN Shareholder’s Name Shareholding at the beginning of the year Share holding at the end of the year % change in share holding
during the year
No. of Shares % of total Shares
of the company
%of Shares
Pledged /
encumbered to
total shares
No. of Shares % of total Shares
of the company
%of Shares
Pledged /
encumbered to
total shares
1 NAVEEN NARANG 4193861 29.67 0 4193861 26.87 0 -2.8
2 SATISH CHANDER NARANG 1766351 12.49 0 1766351 11.32 0 -1.17
3 MANAN NARANG 819437 5.80 0 819437 5.25 0 -0.55
4 SUMITRA NARANG 586963 4.15 0 586963 3.76 0 -0.39
5 MANSI NARANG 511500 3.62 0 511500 3.28 0 -0.34
6 S C NARANG (HUF) 76500 0.54 0 76500 0.49 0 -0.05
7 PARVEEN KUMAR NARANG 60000 0.42 0 60000 0.38 0 -0.04
8 SUPRIYA NARANG 60000 0.42 0 60000 0.38 0 -0.04
9 NAVEEN NARANG (HUF) 3000 0.02 0 3000 0.02 0 0.00
10 NIDHI NARANG 1500 0.01 0 1500 0.01 0 0.00
(*) There is no change in the shareholding of the promoters of the Company. Further, it is pertinent to mention here that dur ing the year, the Company has issued 14,72,550 Equity shares on preferential
allotment basis, which resulted in change in shareholding % age during the year
C. Change in Promoters’ Shareholding
SN Name Particulars Shareholding at the beginning of the
year
Cumulative Shareholding during the
year
No. of Shares % of total Shares of
the company
No. of Shares % of total Shares of
the company
“SAME AS ABOVE”
30 ANNUAL REPORT 2014-2015
D. Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs)
SN Name Particulars Shareholding at the beginning of the
year
Cumulative Shareholding during the
year
No. of Shares% of total Shares of
the companyNo. of Shares
% of total Shares of
the company
1 BIGSEA TRADING COMPANY PRIVATE LIMITED BODY COPRORATE 529909 3.75 574423 3.68
2 SUPERFAST MEDIA PRIVATE LIMITED BODY COPRORATE 572710 4.05 572710 3.67
3 RANJITGARH FINANCE COMPANY PRIVATE LIMITED BODY COPRORATE 562500 3.98 948200 6.07
4 SKYLARGE REALCON PRIVATE LIMITED BODY COPRORATE 462486 3.27 462486 2.96
5 J.K. L'ATELIER LIMITED BODY COPRORATE 392800 2.52
6 PURBANCHAL TRADE AND INDUSTRIES LIMITED BODY COPRORATE 242936 1.72 385142 2.47
7 NAU NIDH FINANCE LIMITED BODY COPRORATE -- -- 300000 1.92
8 VANI COMMERCIALS LIMITED BODY COPRORATE -- -- 279550 1.79
9 SHRI PARASRAM HOLDINGS PVT.LTD. BODY COPRORATE -- -- 180166 1.15
10 OMANSH ENTERPRISES LIMITED BODY COPRORATE -- -- 114500 0.73
11 MANISH KAPOOR INDIVIDUAL 75000 0.53 75000 0.48
12 MEENU KAPOOR INDIVIDUAL 75000 0.53 75000 0.48
13 NAVNEET KUMAR INDIVIDUAL 189650 1.34 -- --
14 HITESH KUMAR LAKHINA INDIVIDUAL 62650 0.44 -- --
15 RAVINDER MUNJAL INDIVIDUAL 62625 0.44 -- --
16 ABHISHEK SAPRA INDIVIDUAL 62500 0.44 -- --
17 PRAMOD CHANDER SAPRA INDIVIDUAL 62500 0.44 -- --
18 SOURABH SAPRA INDIVIDUAL 62500 0.44 -- --
19 MURLI DHAR INDIVIDUAL 62500 0.44 -- --
20 KASHMIRI LAL INDIVIDUAL 62500 0.44 -- --
21 SAHIL LAKHINA MURLI DHAR INDIVIDUAL 62500 0.44 -- --
22 MANISH KAPOOR INDIVIDUAL 62500 0.44 -- --
23 RAKESH KAPOOR INDIVIDUAL 62500 0.44 -- --
24 PRAMOD CHAND SAPRA INDIVIDUAL 62500 0.44 -- --
25 NEELAM SAPRA INDIVIDUAL 62500 0.44 -- --
26 ISHA KAPOOR INDIVIDUAL 62500 0.44 -- --
27 UDAY KAPOOR INDIVIDUAL 62500 0.44 -- --
28 RAKESH KAPOOR INDIVIDUAL 62500 0.44 -- --
29 RAMESH KUMARI KAPOOR INDIVIDUAL 62500 0.44 -- --
30 ARCHANA KAPOOR INDIVIDUAL 62500 0.44 -- --
31 KARAN KAPOOR INDIVIDUAL 62500 0.44 -- --
32 SUNITA MITTAL INDIVIDUAL 62500 0.44 -- --
33 BALDEV RAJ KAPOOR INDIVIDUAL 62500 0.44 -- --
34 EXCELLENT COMPUTER SERVICES PVT LTD BODY COPRORATE 62500 0.44 -- --
35KAUTILYA MERCANTILE & SERVICES PRIVATE
LIMITEDBODY COPRORATE 62500 0.44 -- --
36 KNIT MAC INDIA LTD BODY COPRORATE 62500 0.44 -- --
37 NVG INDIA LIMITED BODY COPRORATE 62500 0.44 -- --
38 SUDESH MUNJAL INDIVIDUAL 61625 0.44 -- --
31 ANNUAL REPORT 2014-2015
E. Shareholding of Directors and Key Managerial Personnel
SN Name Particulars Shareholding at the beginning of the
year
Cumulative Shareholding during the
year
No. of Shares% of total Shares of
the companyNo. of Shares
% of total Shares of
the company
1 NAVEEN NARANG MANAGING DIRECTOR 4193861 29.67 4193861 26.87
2 SATISH CHANDER NARANG DIRECTOR 1766351 12.49 1766351 11.32
3 MANSI NARANG DIRECTOR 511500 3.62 511500 3.28
(*) There is no change in the shareholding of the Directors of the Company. Further, it is pertinent to mention here that during the year, the Company has issued 14,72,550 Equity shares on private
placement basis
V. INDEBTEDNESS :
ParticularsSecured Loans excluding
depositsUnsecured Loans Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount 11,62,474.90 4,75,11,000.00 - 4,86,73,474.90
ii) Interest due but not paid - - - -
iii) Interest accrued but not due - - - -
Total (i+ii+iii) 11,62,474.90 4,75,11,000.00 - 4,86,73,474.90
Change in Indebtedness during the financial year
Addition - 1,28,50,000.00 - 1,28,50,000.00
Reduction (11,62,474.90) (4,35,51,000.00) - (4,47,13,474.90)
Net Change (11,62,474.90) (3,07,01,000.00) - (3,18,63,474.90)
Indebtedness at the end of the financial year
i) Principal Amount - 1,68,50,000.00 - 1,68,50,000.00
ii) Interest due but not paid - - - -
iii) Interest accrued but not due - - - -
Total (i+ii+iii) - 1,68,50,000.00 - 1,68,50,000.00
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL :
A. Remuneration to Managing Director, Whole -time Directors and/or Manager
SN Name of
MD/WTD/Manager
Gross salary Stock Option Sweat Equity Commission Others Total Ceiling as per
the Act
(a) Salary as
per provisions
contained in
section 17(1) of
the Income-tax
Act, 1961
(b) Value of
perquisites u/s
17(2) Income-
tax Act, 1961
(c) Profits in
lieu of salary
under section
17(3) Income-
tax Act, 1961
as % of profit others
1 Mr. Naveen Narang 8,40,000.00 Nil Nil 8,40,000.00
32 ANNUAL REPORT 2014-2015
B. Remuneration to other directors
SN Name of
Directors
Independent Directors Total (1) Other Non-Executive Directors Total (2) Total (1+2) Total
Managerial
Remuneration
Overall
Ceiling as per
the Act
Fee for
attending
board /
committee
meetings
Commission Others Fee for
attending
board
committee
meetings
Commission Others
Not Any
C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD
SN Name of Key Managerial
Personnel
Gross salary Stock Option Sweat Equity Commission Others Total
(a) Salary as
per provisions
contained in
section 17(1) of
the Income-tax
Act, 1961
(b) Value of
perquisites u/s
17(2) Income-
tax Act, 1961
(c) Profits in
lieu of salary
under section
17(3) Income-
tax Act, 1961
as % of profit others
1. Ms. Bernadette Dominic 264000.00 264000.00
VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES :
Type Section of the Companies Act Brief Description Details of Penalty
/Punishment/ Compounding
fees imposed
Authority [RD / NCLT/ COURT] Appeal made, if any (give
Details)
A. COMPANY
Penalty
Not AnyPunishment
Compounding
B. DIRECTORS
Penalty
Not Any
For Max Heights Infrastucture Limited
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693
Regd. Off: SD-65, Tower Apartment, Pitampura,
New Delhi - 110034
Punishment
Compounding
C. OTHER OFFICERS IN DEFAULT
Penalty
Not AnyPunishment
Compounding
33 ANNUAL REPORT 2014-2015
'Annexure-V'
FORM NO. MR – 3
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 2014-2015
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No. 9 of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014]
The Members,
M/s Max Heights Infrastructure Limited
SD-65, Tower Apartment,
Pitampura, New Delhi - 110034
I have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good
corporate practices by M/s Max Heights Infrastructure Limited, a Company incorporated under the provisions of the
Companies Act, 1956 and having its registered office at SD-65, Tower Apartment, Pitampura, New Delhi – 110034
(hereinafter referred to as the 'Company') for the period commencing from 1st April 2014 till 31st March 2015
(hereinafter referred to as the )
Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate
conducts/statutory compliances and expressing my opinions thereon.
Based on my verification of the books, papers, minute books, forms and returns filed and other records maintained by the
Company and also the information provided by the company, its officers, agents and authorised representatives during
the conduct of secretarial audit, I hereby report that in my opinion, the Company has, during the audit period covering the
financial year ended on 31 March 2015 complied with the statutory provisions listed hereunder and also that the
Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to
the reporting made hereinafter:
I have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company
for the financial year ended on 31 March 2015, according to the provisions of:
The Companies Act, 2013 (the Act) and the rules made thereunder;
The Securities Contracts (Regulation) Act, 1956 ('SCRA') and the rules made thereunder;
The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act,
1992 ('SEBI Act'):-
The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations,
2011;
The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992;
The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations,
2009;
The Securities and Exchange Board of India (Registrar to an Issue and Share Transfer Agents) Regulations,
1993 regarding the Companies Act and dealing with client;
I have also examined compliance with the Equity Listing Agreement with the Bombay Stock Exchange Limited and the
Calcutta Stock Exchange Limited.
It is pertinent to mention that all compliance with regard to the listing agreement were duly done, except the F
For which the penalty was imposed by BSE and the same was duly paid by the Company.
As informed to us the company had moved an application for delisting of its equity shares from Calcutta Stock Exchange,
however the same is pending till date.
Further as informed to us and as certified by the management of the Company there are no other laws which are
specifically applicable to the Company based on their sector/ industry.
Further the Secretarial Standards issued by The Institute of Company Secretaries of India, since not notified hence not
applicable to the Company during the audit period.
'Audit Period'
st
st
(i)
(ii)
(iii)
(iv)
(a)
(b)
(c)
(d)
inancial
Results for the Quarter ended 31 March 15 were submitted late as per the timelines stipulated in Clause 41 of the Listing
Agreement.
st
34 ANNUAL REPORT 2014-2015
I further report that
I further report that
I further report that
I further report that
I further report that
For PB & Associates
Company Secretaries
Sd/-
Pooja Bhatia
FCS: 7673 Place: New Delhi
CP: 6485 Dated : 14 August, 2015
The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive
Directors and independent Directors. The changes in the composition of the Board of Directors that took place during the
period under review were carried out in compliance with provisions of the Act.
Adequate notice is given to all directors to schedule the Board Meetings agenda and detailed notes on agenda were sent
at least seven days in advance, and a system exists for seeking and obtaining further information and clarifications on the
agenda items before the meeting and for meaningful participation at the meeting.
Majority decision is carried through unanimously.
there are adequate systems and processes in the Company commensurate with the size and
operations of the Company to monitor and ensure compliance with the applicable laws, rules, regulations and guidelines.
the Directors have complied with the disclosure requirements in respect of their eligibility of
appointment, their being independent and compliance with the Code of Conduct for Board of Directors and Members of
Senior Management;
:
The Company has complied with the provisions of the Depositories Act, 1996 and the Bye-laws framed
thereunder by the Depositories with regard to dematerialization/ rematerialisation of securities and
reconciliation of records of dematerialised securities with all securities issued by the Company.
The Company has complied with the provisions of the Securities and Exchange Board of India (Substantial
Acquisition of Shares and Takeovers) Regulations, 2011 including the provisions with regard to disclosures
and maintenance of records required under the said Regulations;
The Company has complied with the provisions of the Securities and Exchange Board of India (Prohibition
of Insider Trading) Regulations, 1992 including the provisions with regard to disclosures and maintenance
of records required under the said Regulations;
during the audit period the following major changes/events having bearing on the Company's affair
were taken place:
The Company has held Extra Ordinary General Meeting on 25 June, 2014 and the following resolutions
were passed:
Increase in Authorised Share Capital of the Company from 14,65,00,000/- to 17,00,00,000/- by
way of addition of 23,50,000 Equity Shares of 10/- each aggregating to 2,35,00,000/-.
Preferential Allotment of 14,74,460 equity shares of the Company of the face value of 10/- each
fully paid up for cash at an issue price of 70/- per equity share(including premium of 60/- per
equity share).
Appointment of Mr. Naveen Narang as the Managing Director of the Company.
That out of the abovementioned shares issued on preferential basis listing approval was granted by BSE for
7,86,850 equity shares of 10 each/- and the Listing Approval for 6,85,700 equity shares is still pending,
from Bombay Stock Exchange Limited. Further trading approval for 7,86,850 was granted by BSE on 12
March, 2015.
(i)
(ii)
(iii)
(a)
(i)
(ii)
(iii)
(b)
th
th
th
35 ANNUAL REPORT 2014-2015
'Annexure A'
To,
The Members,
M/s Max Heights Infrastructure Limited
SD-65, Tower Apartment,
Pitampura, New Delhi – 110034
Maintenance of secretarial record is the responsibility of the management of the company. Our responsibility is
to express an opinion on these secretarial records based on our audit.
We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about
the correctness of the contents of the Secretarial records. The verification was done on test basis to ensure that
correct facts are reflected in secretarial records. We believe that the processes and practices, we followed
provide a reasonable basis for our opinion.
We have not verified the correctness and appropriateness of financial records and Books of Accounts of the
Company.
Wherever required, we have obtained the Management representation about the compliance of laws, rules
and regulations and happening of events etc.
The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the
responsibility of management. Our examination was limited to the verification of procedures on test basis.
The Secretarial Audit report is neither an assurance as to the future viability of the company nor of the efficiency
and effectiveness with which the management has conducted the affairs of the company.
Our report of even date is to be read along with this letter.
For PB & Associates
Company Secretaries
Sd/-
Pooja Bhatia
FCS: 7673 Place: New Delhi
CP: 6485 Dated : 14 August, 2015
1.
2.
3.
4.
5.
6.
th
36 ANNUAL REPORT 2014-2015
MANAGEMENT DISCUSSION AND ANALYSIS
Max Heights Infrastructure Limited (also referred to as 'Max' or 'the Company') a growing real estate company is under the
management control of the promoters having a rich experience in real estate sector and the promoters had proudly
completed and delivered a number of projects in recent past. Various internal and external factors had resulted in the
challenging and complex operating environment for the Company.
The financial statements have been prepared in compliance with the requirements of the Companies Act, 2013,
guidelines issued by the Securities and Exchange Board of India (SEBI) and the Generally Accepted Accounting Principles
(GAAP) in India. Our Management accepts responsibility for the integrity and objectivity of these financial statements, as
well as for the various estimates and judgments used therein. The estimates and judgments relating to the financial
statements have been made on a prudent and reasonable basis, so that the financial statements reflect in a true and fair
manner the form and substance of transactions, and reasonably present our state of affairs, profits and cash flows for the
year.
The Indian economy has been reporting a growth of less than 5% for the past two financial years. India's GDP
growth was 4.5% and 4.7% in FY12-13 and FY13-14, respectively. However since the start of FY14-15, business
and investor sentiments have been positive which coincided with the new government assuming power at the
Centre. According to Indian Finance Ministry, the annual growth rate of the Indian economy is projected to have
increased to 7.4% in 2014-15 as compared to 6.9% in the fiscal year 2013-14. Capital formation has been a major
problem for the economy with a slowdown in investment by both the private sector and government. The gross
fixed capital formation (GFCF) rate at current prices has come down continuously from 33.6% in FY11-12 to
28.6% in FY14-15. It is expected that with a revival in demand and the stalled projects getting back on-stream,
the GFCF rate would improve significantly in FY15-16.
Real estate is a critical sector for India's economy due to its large potential for employment generation, capital
attraction and revenue generation for the Government. It is one of the fastest growing sectors contributing
about 6 percent to India's GDP. After witnessing fluctuating business cycles in the last decade, the real estate
sector witnessed a slowdown in FY14-15 due to moderate end user demand, rising inventory and high finance
costs. However, despite adverse sector dynamics, prices were resilient in most cities and have dropped only in
select micro markets.
The Indian real estate sector has come a long way and is today one of the fastest growing markets in the world. It
comprises four sub-sectors – housing, retail, hospitality, and commercial. While housing contributes to five–six
percent of India's gross domestic product (GDP), the remaining three sub-sectors are also increasing at a fast
pace.
Real estate business has boomed in India over the past few decades. Despite the recession and credit crunch
periods, no severe effects have been seen in this sector of business. The real estate trade has always been all
time profitable one in the nation. India being one of the densely populated nations in the world and a rapidly
developing country with various foreign industries and investments coming at regular intervals, the business for
real estate has become extremely successful.
Your Company expects demand from the mid income residential segment to remain strong as we believe there
is significant demand in this category across the country. Increasing disposable incomes, rapid urbanization, and
strong demographics are some of the trends favouring the mid-income residential market.
Unfavorable changes in government policies and the regulatory environment can adversely impact the
performance of the sector. There are substantial procedural delays with regards to land acquisition, land use,
project launches and construction approvals. Retrospective policy changes and regulatory bottlenecks may
impact profitability and affect the attractiveness of the sector and companies operating within the sector.
The real estate market is inherently a cyclical market and is affected by macroeconomic conditions, changes in
applicable governmental schemes, changes in supply and demand for projects, availability of consumer
financing and illiquidity.
I. OVERVIEW OF THE ECONOMY
II. INDUSTRY STRUCTURE AND DEVELOPMENTS
III. OPPORTUNITIES AND THREATS
37 ANNUAL REPORT 2014-2015
RESIDENTIAL REAL ESTATE
COMMERCIAL REAL ESTATE
RETAIL REAL ESTATE
OUTLOOK
The residential real estate sector in India witnessed moderation in sales, absorption and new launches.
Residential property prices have breached affordability limits in various metropolitan cities and certain
emerging locations near urban cities. Demand for urban housing will scale up by nearly twelve million units by
2017 and around 23% of this total demand would be generated from the top 8 cities. The increase in demand
will certainly prove to be a boost to the residential segment. Nevertheless, developers will have to factor in the
ground realities of the business while debating the lowering of prices. Obtaining the permissions to begin
construction of a project can take as much as two years. During this time, the cost of acquisition or even just
holding the land for a project rises. Builders are already beset with the increased costs of license and cost of
construction.
Prices remained largely sideways across markets with the exception of few micro markets in NCR which
witnessed some correction. Despite the subdued performance in recent years, India's demographics and
urbanization trends present an optimistic future for the residential market. Demand is expected to revive given
the reduction in interest rates and higher GDP growth.
Against the current economic and political backdrop, demand for commercial real estate is likely to remain
subdued in the medium term. Corporate are expected to continue their focus on optimal space utilization and
cost cutting measures and transaction activity is expected to be mainly restricted to take up of small and
medium sized space. Supply backlogs are likely to exert pressure on rental and capital values as well.
Overall vacancy is likely to gradually reduce over CY15- 17, owing to limited launches of new office space.
Corporate entities have already begun rolling out their expansion plans due to an improvement in business
fundamentals. The anticipated revival of the economy is expected to be a key trigger for the segment. Given that
the market has seen an oversupply in the last few years, the gap between demand and supply is likely to shorten,
leading to a further increase in rentals.
The real estate and construction sectors are playing a crucial role in the overall development of India's core
Infrastructure. The real estate industry's growth is linked to developments in the retail, hospitality and
entertainment (hotels, resorts, cinema theatres) industries, economic services (hospitals, schools) and
information technology (IT)-enabled services (like call centres) etc. and vice versa.
In the past few years, India's organised retail industry has posted high growth rates, given improvement in key
driving factors namely, lavish lifestyles, high disposable incomes and a propensity to spend. Keeping in step with
growth in the organised retail market, the retail real estate market recorded an increase in demand.
Cashing in on the retail real estate market boom, developers in most cities announced new malls, which
indicated a large amount of supply coming up in 2008. This, in turn, created an excess supply in the existent
weak demand scenario, a resultant of the economic slowdown.
The supply of organised retail real estate, which was mainly concentrated in Tier I cities until a few years back,
spread to Tier II and Tier III cities as well.
Some of the major challenges that the real estate industry in the country is facing today are deficiency of proper
industry status, Absence of Title insurance, Lack of land titles that are clear, Not having enough financial
sources, Scarcity of laborer, Increasing cost of material and manpower, difficulties in getting approval for
different procedures involved.
The year 2015 is expected to see a lot of action on the retail front due to the possible entry of multi-brand
retailers. The growth is expected to set in from the second half of 2015 when an increase in leasing activities
both on account of entry of new companies into the country, expansion of existing companies and indeed
relocation and consolidation activities that are expected to continue.
The headwinds facing the Indian economy over the past couple of years are quickly abating. A combination of
beneficial turns in commodity and interest rates cycles, a favourable policy environment and an improved
IV.
38 ANNUAL REPORT 2014-2015
consumer and investor sentiment is likely to lead to a far improved demand environment.
The Company is exposed to different types of risks such as credit risk, market risk (including liquidity risk,
interest rate risk), operational risk and legal risk. The Company monitors credit and market risks, as well as
portfolio and operational risk through the oversight of senior management personnel in each of its business
segments. Legal risk is subject to the review of the Company's legal department and external advisers. The
Company is exposed to specific risks in connection with the management of investments and the environment
within which it operates. The Company aims to understand, measure and monitor the various risks to which it is
exposed and to ensure that it adheres, as far as reasonably and practically possible, to the policies and
procedures established by it to mitigate these risks.
Max has a proper and adequate system of internal controls to ensure that all assets are safeguarded and
protected against loss from unauthorized use or disposition, and to ensure that all transactions are authorised,
recorded and reported correctly and adequately.
The Company's internal controls are supplemented by an extensive programme of internal audits, review by
management and documented policies, guidelines and procedures. The internal control is designed to ensure
that financial and other records are reliable for preparing financial information and for maintaining
accountability of assets. All financial and audit control systems are also reviewed by the Audit Committee of the
Board of Directors of the Company.
The company has been engaged in the business of real estate and making all the effort to explore and excel in
the real estate market.
The summarized profit and loss statement of the Company is as detailed below:
V.
VI.
VII.
RISKS & CONCERNS
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE OF MAX
HEIGHTS INFRASTRUCTURE LIMITED
Operations & Financial Review (Standalone)
ParticularsFor the Financial Year Ended
31.03.2015 31.03.2014
Revenue
Revenue from Operations (net) 4,61,79,834.00 3,54,58,150.87
Other income 1,15,510.00 69,054.00
Total Revenue 4,62,95,344.00 3,55,27,204.87
Expenditure
Cost of materials consumed - -
Purchases of stock-in-trade 6,51,500.00 15,65,91,260.00
Changes in inventories of finished goods, work-in-progress and
stock-in-trade2,83,10,875.00 (13,76,70,350.00)
Employee benefits expense 39,23,668.00 37,60,333.00
Finance costs 30,14,084.48 35,34,457.47
Depreciation and amortisation expense 12,21,642.00 11,88,616.00
Other Expenses 27,06,884.00 23,67,427.93
Total 3,98,28,653.48 2,97,71,744.40
Profit / (Loss) before exceptional and extraordinary items and tax 64,66,690.52 57,55,460.47
Exceptional items - -
Profit / (Loss) before extraordinary items and tax 64,66,690.52 57,55,460.47
Extraordinary items - -
Profit / (Loss) before tax 64,66,690.52 57,55,460.47
Tax expense
Current tax 20,94,250.00 17,68,880.00
Earlier years tax (5,257.00) -
Deferred tax (4,01,481.00 11,800.00
Total Tax Expense 16,87,512.00 17,80,680.00
Profit / (Loss) from continuing operations 47,79,178.52 39,74,780.47
Profit / (Loss) for the year 47,79,178.52 39,74,780.47
39 ANNUAL REPORT 2014-2015
The salient features of the performance are:
The total revenue has considerably increase from 3,55,27,204.87/- in 2013-14 to 4,62,95,344.00/- in 2014-
15.
The expenses of the Company have increased from 2,97,71,744.40/- in 2013-2014 to 3,98,28,653.48/- in
2014-2015 in order to generate higher revenue for the Company.
The Company has earned a profit of 47,79,178.52/- during the year 2014-2015.
The Earning per Share (EPS) for 2014-15 was 0.31 against 0.28 in 2013-2014.
Human resource continues to be the backbone of Max's business. The Company lays strong emphasis on
attracting and retaining the best talent. Personal developmental initiatives including training, both technical
and managerial, are regularly conducted to enhance human potential.
Statements in this Management Discussion and Analysis describing the company's objectives, projections, estimates and
expectations may be 'forward looking statements' within the meaning of applicable laws and regulations. Actual results
might differ substantially or materially from those expressed or implied. Important developments that could affect the
company's operations include a downtrend in the real estate sector, significant changes in political and economic
environment in India or key financial markets abroad, tax laws, litigation, labour relations, exchange rate fluctuations,
interest and other costs.
l
l
l
l
VIII. MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT, INCLUDING NUMBER
OF PEOPLE EMPLOYED.
CAUTIONARY STATEMENT
Sd/- Sd/-
Satish Chander Narang Naveen Narang
Chairman Managing Director & CFO
DIN: 00095693 DIN: 00095708
Date:
Place:
14th
August, 2015
New Delhi
Regd. Off.: SD-65, Pitampura,
New Delhi - 110034
Regd. Off.: SD-65, Pitampura,
New Delhi - 110034
For & on behalf of Board of Directors
For Max Heights Infrastructure Limited
40 ANNUAL REPORT 2014-2015
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MAX HEIGHTS INFRASTRUCTURE LIMITED
Report on the Standalone Financial Statements
Management's Responsibility for the Standalone Financial Statements
Auditor's Responsibility
Opinion
Report on Other Legal and Regulatory Requirements
We have audited the accompanying standalone financial statements of MAX HEIGHTS INFRASTRUCTURE LIMITED, which
comprise the Balance Sheet as at 31 March, 2015, the Statement of Profit and Loss, the Cash Flow Statement for the year
then ended, and a summary of the significant accounting policies and other explanatory information.
The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (“the
Act”) with respect to the preparation of these standalone financial statements that give a true and fair view of the financial
position, financial performance and cash flows of the Company in accordance with the accounting principles generally
accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in
accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting
frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial
controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant
to the preparation and presentation of the financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Our responsibility is to express an opinion on these standalone financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are
required to be included in the audit report under the provisions of the Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those
Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial
statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal financial control relevant to the Company's preparation of the financial statements that give a true and
fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating
the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the
Company's Directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
on the standalone financial statements.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone
financial statements give the information required by the Act in the manner so required and give a true and fair view in
conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31
March, 2015, and its profit/loss and its cash flows for the year ended on that date.
As required by Section 143 (3) of the Act, we report that:
We have sought and obtained all the information and explanations which to the best of our knowledge and
belief were necessary for the purposes of our audit.
In our opinion, proper books of account as required by law have been kept by the Company so far as it
appears from our examination of those books.
The reports on the accounts of the branch offices of the Company audited under Section 143 (8) of the Act
by branch auditors have been sent to us and have been properly dealt with by us in preparing this report
st
st
a)
b)
c)
41 ANNUAL REPORT 2014-2015
d)
e)
f)
g)
h)
i)
j)
The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report
are in agreement with the books of account.
In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
There are no observations and comments on the financial transactions or matters which have adverse
effect on the company.
On the basis of the written representations received from the directors as on 31 March, 2015 taken on
record by the Board of Directors, none of the directors is disqualified as on 31 March, 2015 from being
appointed as a director in terms of Section 164 (2) of the Act.
In our opinion the company has adequate internal financial control system in place and operative
effectiveness of such control.
On the basis of written representation received from director there is no litigation pending against the
company.
In our opinion and on the basis of written representation there is no material foreseeable losses therefore
no provision in respect of same has been made.
The company has not require to transfer the amount to the Investor Education and Protection Fund.
st
st
For Deepak Narang & Associates
Chartered Accountants
Firm Regn. No.: 016594N
Sd/-
Deepak Narang
Partner
M.No. 097348
Place : New Delhi
Date : 03.06.2015
42 ANNUAL REPORT 2014-2015
Annexure to the Auditors' Report
The Annexure referred to in our report to the members of MAX HEIGHTS INFRASTRUCTURE LIMITED for the year Ended on
31 March 2015.
We report that:
st
S.No. Particulars
(i) (a) The company is maintaining proper records showing full particulars, including quantitative details and
situation of fixed assets.
(b) That the fixed assets of the Company have been physical verified by the management at reasonable intervals
during the year and no serious discrepancies have been noticed on such verifications.
(ii) (a) The inventory of the company has been physically verified by the management at reasonable intervals .
(b) The procedures of physical verification of inventory followed by the management are reasonable and
adequate in relation to the size of the company and the nature of its business.
(c) The company has maintained proper records of inventory and no material discrepancies were noticed on
physical verification as compare to book records .
(iii) The company has not granted loans, secured or unsecured to companies, firms or other parties covered in the
register maintained under section 189 of the Companies Act.
(iv) In our opinion and according to the information and explanations given to us, there are adequate internal control
procedures commensurate with the size of the company and the nature of the business with regard to business
of the company. During the course of our audit, we neither come across nor have been informed of any
weakness in the aforesaid internal control procedure .
(v) During the year under audit, the Company has not accepted deposits accordingly the directives issued by the
Reserve Bank of India and the provisions of sections 73 to 76 or any other relevant provisions of the Companies
Act and the rules framed there under are not applicable.
(vi) To the best of our knowledge Central Government has not prescribed maintenance of cost records under sub -
section (1) of section 148 of the Companies Act.
(vii) (a) According to our opinion the company is regular in depositing undisputed statutory dues including income -
tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues with the
appropriate authorities.
(b) According to information and explanation given to us, there are no dues of income tax, sales tax, excise duty
or cess outstanding on account of any dispute.
(c) In our opinion and according to explanation given to us no amount is required to be transferred to investor
education and protection fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956)
and rules made thereunder.
(viii) The company has not any accumulated business loss at the end of the current financial year. The company does
not incurred cash loss during the financial year covered by our audit and no cash loss has been incurred in the
immediately preceding financial year.
(ix) In our opinion and according to the information and explanation given to us, the company has not defaulted in
the repayment of dues to financial institution, bank or debenture holders.
(x) According to the information and explanation given to us the company has not given any guarantee for loans
taken by others from bank or financial institution. (The terms and conditions whereof are prejudicial to the
interest of the company.)
(xi) In our opinion the company has applied the term loans for the purpose for which these were raised ;
(xii) Based upon the audit procedures performed and the information and explanations given by the management,
we report that no fraud on or by the company has been noticed or reported during the course of our audit.
For Deepak Narang & AssociatesChartered AccountantsFirm Regn. No.: 016594N
Sd/-Deepak NarangPartnerM.No. 097348
Place : New DelhiDate : 03.06.2015
43 ANNUAL REPORT 2014-2015
Note
No.
As at March 31, 2015 As at March 31, 2014
I. EQUITY AND LIABILITIES
1 Shareholder’s Funds
(a) Share capital 4 156,092,250.00 141,366,750.00
(b) Reserves and surplus 5 107,443,424.55 19,214,899.03
263,535,674.55 160,581,649.03
2 Share application money pending allotment - 62,633,723.00
3 Non-current liabilities
(a) Long-term borrowings 6 16,850,000.00 4,000,000.00
(b) Deferred tax liabilities(net) - 87,607.00
(c) Other long term liabilities - -
(d) Long Term Provisions - -
16,850,000.00 4,087,607.00
4 Current liabilities
(a) Short-term borrowings 7 - 43,551,000.00
(b) Trade payables - -
(c) Other current liabilities 8 7,795,823.80 12,492,496.90
(d) Short-term provisions 9 2,094,250.00 1,768,880.00
9,890,073.80 57,812,376.90
TOTAL 290,275,748.35 285,115,355.93
II. ASSETS
1 Non-current assets
(a) Fixed assets
(i) Tangible assets 10 5,123,690.00 7,771,755.00
(ii) Intangible assets - -
(iii) Capital Work in Progress - -
(b) Non-current investments 11 28,900,000.00 26,400,000.00
(c) Deferred Tax Assets 12 313,874.00 -
(c) Long-term loans and advances 13 100,000.00 100,000.00
34,437,564.00 34,271,755.00
2 Current assets
(a) Current Investments 14 89,917.72 89,917.72
(b) Inventories 15 178,817,975.94 207,128,850.94
(c) Trade receivables 16 1,126,620.00 1,309,156.00
(d) Cash and cash equivalents 17 1,115,406.69 1,470,233.27
(e) Short-term loans and advances 18 74,688,264.00 40,845,443.00
(f) Other current assets - -
255,838,184.35 250,843,600.93
TOTAL 290,275,748.35 285,115,355.93
Accounting Policies 3
Notes to the Accounts 26
See accompanying notes forming part of the financial statements
MAX HEIGHTS INFRASTRUCTURE LIMITEDBalance Sheet as at March 31, 2015
In terms of our report attached
For Deepak Narang & Associates
Chartered Accountants
Firm Regd. No. 016594N
For and on behalf of the Board of Directors
Sd/-
Deepak Narang
Partner
Membership No.097348
Place: New Delhi
Date: 03/06/2015
Sd/-
Jaspreet Kaur
Company Secretary
M.No.A38684
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Particulars
1-26
44 ANNUAL REPORT 2014-2015
Note No. For the year ended March
31, 2015
For the year ended March
31, 2014
1 Revenue from operations (gross) 19 46,179,834.00 35,458,150.87
Less: Excise duty - -
Revenue from operations (net) 46,179,834.00 35,458,150.87
2 Other income 20 115,510.00 69,054.00
3 Total revenue (1+2) 46,295,344.00 35,527,204.87
4 Expenses
(a) Cost of materials consumed - -
(b) Purchases of stock-in-trade 651,500.00 156,591,260.00
(c) Changes in inventories of finished goods, work-in-
progress and stock-in-trade
21 28,310,875.00 -137,670,350.00
(d) Employee benefits expense 22 3,923,668.00 3,760,333.00
(e) Finance costs 23 3,014,084.48 3,534,457.47
(f) Depreciation and amortisation expense 10 1,221,642.00 1,188,616.00
(g) Other expenses 24 2,706,884.00 2,367,427.93
Total expenses 39,828,653.48 29,771,744.40
5 Profit / (Loss) before exceptional and extraordinary items and
tax (3 - 4)
6,466,690.52 5,755,460.47
6 Exceptional items - - -
7 Profit / (Loss) before extraordinary items and tax (5 + 6) 6,466,690.52 5,755,460.47
8 Extraordinary items - - -
9 Profit / (Loss) before tax (7 + 8) 6,466,690.52 5,755,460.47
10 Tax expense:
(a) Current tax 2,094,250.00 1,768,880.00
(b) Earlier years tax (5,257.00) -
(c) Deferred tax (401,481.00) 11,800.00
1,687,512.00 1,780,680.00
11 Profit / (Loss) from continuing operations (9 +10) 4,779,178.52 3,974,780.47
12 Profit / (Loss) for the year 4,779,178.52 3,974,780.47
13 Earnings per share (of 10/- each):
Basic 25 0.31 0.28
Diluted 25 0.31 0.28
See accompanying notes forming part of the financial
statements
Accounting Policies 3
Notes to the Accounts 26
Statement of Profit and Loss for the year ended March 31, 2015
Particulars
MAX HEIGHTS INFRASTRUCTURE LIMITED
1-26
In terms of our report attached
For Deepak Narang & Associates
Chartered Accountants
Firm Regd. No. 016594N
For and on behalf of the Board of Directors
Sd/-
Deepak Narang
Partner
Membership No.097348
Place: New Delhi
Date: 03/06/2015
Sd/-
Jaspreet Kaur
Company Secretary
M.No.A38684
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
45 ANNUAL REPORT 2014-2015
Particulars For the year ended March
31,2015
For the year ended
March 31,2014
A. Cash flow from operating activities
Net Profit / (Loss) before extraordinary items and tax 6,466,690.52 5,755,460.47
Adjustments for:
Depreciation and amortisation 1,221,642.00 881,825.00
Profit on Sale of Vehicle (102,327.00)
Interest Received (4,956,633.00) -
Interest 3,014,084.48 3,534,457.47
-Operating profit / (loss) before working capital changes 5,643,457.00 10,171,742.94
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Inventories 28,310,875.00 (137,670,350.00)
Trade receivables 182,536.00 253,157.00
Short Term Loans & Advances (33,842,821.00) 45,163,808.00
Other current assets - 15,880.00
Short Term Provisions 325,370.00 (621,870.00)
Trade Payable & Other liabilities (4,696,673.10) 944,685.30
Cash Generated from Operating activities (4,077,256.10) (81,742,946.76)
Taxes Paid 2,088,993.00 1,768,880.00
Net Cash Flow from operating activities (6,166,249.10) (83,511,826.76)
B. Cash Flow from Investing Activities
Addition to Fixed Assets - (1,379,494.00)
Deletion to Fixed Assets 277,500.00 1,733,219.00
Addition to Investments (2,500,000.00) (10,500,000.00)
Long Term Provisions - 3,030.00
Interest received 4,956,633.00 -
Net Cash Flow from Investing Activities 2,734,133.00 (10,143,245.00)
C. Cash Flow from Financing Activities
Cash from Issue of Shares 103,078,500.00 62,633,723.00
OD Limit from Bank - (3,621,539.50)
Share Application Money Refunded (62,633,723.00)
Proceeds from Borrowing 12,850,000.00 29,637,515.10
Repayment of Borrowing (43,551,000.00)
Dividend Paid (3,121,845.00)
DDT Paid (530,558.00)
Interest Payments (3,014,084.48) (3,534,457.47)
3,077,289.52 85,115,241.13
Net Cash Flow during the year (A+B+C) (354,826.58) (8,539,830.63)
Cash & Cash Equivalent (Opening Balance) (D) 1,470,233.27 10,010,063.90
Cash & Cash Equivalent (Closing Balance) (E) 1,115,406.69 1,470,233.27
Net Increase/(Decrease) in Cash & Cash Equivalents (354,826.58) (8,539,830.63)
Cash Flow Statement for the year ended March 31, 2015
MAX HEIGHTS INFRASTRUCTURE LIMITED
In terms of our report attached
For Deepak Narang & Associates
Chartered Accountants
Firm Regd. No. 016594N
For and on behalf of the Board of Directors
Sd/-
Deepak Narang
Partner
Membership No.097348
Place: New Delhi
Date: 03/06/2015
Sd/-
Jaspreet Kaur
Company Secretary
M.No.A38684
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
46 ANNUAL REPORT 2014-2015
MAX HEIGHTS INFRASTRUCTURE LIMITED
NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH, 2015
Note 1:
CORPORATE INFORMATION
Note 2:
BASIS OF PREPARATION
Note 3:
ACCOUNTING POLICIES
3.1 Change in accounting policy - presentation and disclosure of financial statements
3.2 Use of estimates
3.3 Revenue recognition
3.4 Tangible Assets
3.5 Depreciation and Amortization
st
MAXHEIGHTS INFRASTRUCTURE LIMITED ('the Company') incorporated in India on July 28, 1981, a company
incorporated under the laws of India. The Company's shares are publicly traded on the Bombay Stock Exchange
('BSE'), India and Calcutta Stock Exchange. The Registered office of the Company is situated at SD – 65, Tower
Appartments Pitampura New Delhi - 110034
The financial statements of the Company have been prepared in accordance with the generally accepted accounting
principles in India (Indian GAAP). The financial statements have been prepared to comply in all material respects with
the accounting standards notified under the Companies (Accounts) Rules, 2015 and the relevant provisions of the
Companies Act, 2013. The financial statements have been prepared under the historical cost convention on an
accrual basis. The accounting policies have been consistently applied by the Company and are consistent with those
used in the previous year, except for the change as explained in note the below.
Significant accounting policies are summarized below:
The financial statements of the Company have been prepared and presented for the year ended March 31,
2015, as per the format prescribed under the Schedule III notified under the section 129 of Companies Act,
2013. The adoption of Schedule III does not impact recognition and measurement principles followed for the
preparation of the financial statements.
The Company has reclassified the previous year figures in accordance with the requirements applicable in the
current year and same had been notified wherever required.
The preparation of the financial statement in conformity with generally accepted accounting policies requires
management to make estimates and assumptions that affect the reported balances of assets & liabilities and
disclosure relating to contingent assets & liabilities as at the date of the financial statements and reported
amounts of income & expenses during the period.
Accounting estimates could change from period to period. Actual result could differ from those estimates.
Appropriate changes in estimates are made as the Management becomes aware of changes in circumstances
surrounding the estimates. Changes in estimates are reflected in the financial statements in the period in which
changes are made and, if material, their effects are disclosed.
Revenue from the sale of Real estate is recognized in the financial year in which agreement to sell is executed or
when the substantial risk and rewards of the ownership is transferred to buyer.
Interest accrues on the time basis determined by the amount outstanding and the rate applicable.
Revenue from commission is recognized only when service is completed.
Tangible assets are stated at cost, less accumulated depreciation and impairment, if any. Direct costs are
capitalized until such assets are ready for use.
Gains and losses arising from retirement or disposal of the tangible assets are determined as the difference
between the net disposal proceeds and the carrying amount of the asset and are recognized in statement of
profit and loss on the date of retirement and disposal.
Depreciation on tangible assets is provided on the straight-line method over the useful lives of assets estimated
by the Management. Depreciation for assets purchased / sold during a period is proportionately charged. The
Management estimates the useful lives for the other fixed assets as follows :
l
l
l
l
l
l
l
l
l
47 ANNUAL REPORT 2014-2015
S.No. Assets Life as per schedule II Life Taken
1. Vehicles 8 Years 8 Years
2. Computers 3 Years 3 Years
3. Mobile Phone 5 Years 5 Years
4. Office Equipment 5 years 5 years
3.6 Investments
3.7 Inventories
3.8 Foreign Currency Transactions
3.9 Employee Benefits
3.10 Borrowing Cost
3.11 Taxes on Income
l
l
l
l
l
l
l
l
l
l
l
l
Investments are either classified as current or long-term based on Management's intention at the time of
purchase. Current investments are carried at the lower of cost and fair value of each investment individually.
Long term investments are carried at cost less provisions recorded to recognize any decline, if any, other than
temporary, in the carrying value of each investment.
Inventories are valued as under:
Building material and consumable stores are valued at cost, which is determined on the basis of FIFO.
Land is valued at cost, which is determined on average method. Cost includes cost of acquisition and all related
costs.
Construction work in progress is valued at cost. Cost includes cost of material, services and other related
overheads related to project under construction.
Unsold Portion / Portion under construction is shown at cost under the head stock in trade Construction
Activity.
Inventory of shares has been valued at cost.
The Company had not done any foreign currency transactions during the year.
Short term employee benefits are recognized in the year during which the services have been rendered.
The employees of the Company are entitled to compensate absences which are non-accumulating in nature.
Expense on non-accumulating compensated absences is recognized in the period in which the absences occur.
No employee of the company has been into employment of the company for more than 5 Years. Therefore no
provision is accrued for gratuity and leave encashment.
Financial Costs relating to borrowed funds attributable to the acquisition or construction of fixed assets which
takes substantial period of time to get ready for its intended use is capitalized as part of the cost of that asset in
accordance to AS 16. The interest cost incurred for funding a qualifying asset during the construction period is
capitalized based on actual investment in the asset at the average interest rate for specific borrowings.
However, financing costs (including interest) on fixed assets purchased on deferred credit basis or on the
monies borrowed for the construction or acquisition of fixed assets are not capitalized to the extent that such
costs relate to periods after such assets are ready to be put to use.
Income taxes are accrued in the same period that the related revenue and expenses arise. A provision is made
for income tax annually, based on the tax liability computed, after considering tax allowances and exemptions.
Provisions are recorded when it is estimated that a liability due to disallowances or other matters is probable.
The Company offsets, on a year on year basis, the current tax assets and liabilities, where it has a legally
enforceable right and where it intends to settle such assets and liabilities on a net basis.
Provision for income tax of 20.94 Lacs has been made in the accounts for the year ending 31 March 2015,
which has been worked out on the basis of taxable income as per the Income Tax Act 1961.
Deferred income taxes reflects the impact of current year timing differences between taxable income and
accounting income for the year and reversal of timing differences of earlier years. Deferred tax is measured
based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date.
st
48 ANNUAL REPORT 2014-2015
Deferred Tax
Liability/(Asset)
Current Year Change Deferred Tax
Liability/(Asset)
As at 01.04.2014 As at 31.03.2015
Difference between book and tax
depreciation
437910.00 (432179.00) 5731.00
Brought Forward Unabsorbed Business
Loss (2007-08)
(267801.00) - (267801.00)
Brought Forward Unabsorbed
Depreciation (2007-08)
(53806.00) - (53806.00)
Others (Loss on Sale of Fixed Assets) (28696.00) 30698.00 2002.00
Total 87607.00 (401481.00) (313874.00)
3.12 Earnings Per Share
3.13 Cash & Cash equivalents
3.14 Current Assets
3.15 Cash Flow Statement
3.16 Provisions and Contingencies
As per our report of even date
For Deepak Narang & Associates
Chartered Accountants
Firm Reg. No. 016594N For and on Behalf of the Board
l
l
l
l
l
l
l
The earnings considered in ascertaining the Company's Earnings Per Share ('EPS') comprise of the net profit
after tax and dividend on preference shares attributable to equity shareholders. The number of shares used in
computing basic EPS is the number of shares outstanding during the year. The diluted EPS is calculated on the
same basis as basic EPS, after adjusting for the effects of potential dilutive equity shares (if any) unless impact is
anti dilutive.
Cash and cash equivalents comprise of cash and cash on deposit with banks and corporations. The Company
considers all highly liquid investments with a remaining maturity at the date of purchase of three months or less
and that are readily convertible to known amounts of cash to be cash equivalents.
Cash in hand has been certified by the management at the close of the year.
In the opinion of the management, current assets, loans & advances have the value on the realization in the
ordinary course of business equal to the amount at which they are stated and all known liabilities have been
adequately provided for.
Cash flows are reported using the indirect method, where by profit before tax is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or
payments and item of income or expenses associated with investing or financing cash flows. The cash flows
from operating, investing and financing activities of the Company are segregated.
Provisions are recognized when the Company has a present obligation as a result of past event; it is more likely
than not that an outflow of resources will be required to settle the obligation, in respect of which a reliable
estimate can be made. Provisions are not discounted to its present value and are determined based on best
estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet
date and adjusted to reflect the current best estimates.
A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by
the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
Company or a present obligation that is not recognized because it is not probable that an outflow of resources
embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot
be measured with sufficient reliability. Contingent liability has been disclosed in accordance with AS-29, issued
by The Institute of Chartered Accountants of India.
Sd/-
Deepak Narang
Partner
Membership No.097348
Place: New Delhi
Date: 03/06/2015
Sd/-
Jaspreet Kaur
Company Secretary
M.No.A38684
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
49 ANNUAL REPORT 2014-2015
Notes:
Particulars Opening Balance Fresh issue Closing Balance
Equity shares with voting rights
Year ended 31 March, 2015
- Number of shares 14,136,675 1,472,550.00 15,609,225
- Amount 141366750.00 14,725,500.00 156,092,250.00
Year ended 31 March, 2014
- Number of shares 14,136,675
- Amount -- 141,366,750.00
(ii) Equity shares: The company has only one class of equity shares having face value of 10/- each.
Each Shareholder is eligible for one vote per share held.
(i) Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the reporting period:
Note 4: Share capital
Particulars
Number of shares Number of shares
(a) Authorised
17000000 Equity shares of 10 each with voting rights 17,000,000 170,000,000.00 14,650,000 146,500,000.00
(b) Issued
15609225 Equity shares of 10 each with voting rights 15,609,225 156,092,250.00 14,136,675 141,366,750.00
(c) Subscribed and fully paid up
15609225 Equity shares of 10 each with voting rights 15,609,225 156,092,250.00 14,136,675 141,366,750.00
Total 156,092,250.00 141,366,750.00
Notes forming part of the financial statements
As at 31 March, 2015st
As at 31 March, 2014st
MAX HEIGHTS INFRASTRUCTURE LIMITED
14,136,675
141,366,750.00
--
Particulars
Number of shares held % holding in that class
of shares
Number of shares held % holding in that class
of shares
Equity shares with voting rights
Sumitra Narang 586963 3.76 586963 4.15
Manan Narang 819437 5.25 819437 5.8
Naveen Narang 4193861 26.87 4193861 29.67
Satish Chander Narang 1766351 11.32 1766351 12.49
Ranjitgarh Finance Company Private Limited 948200 6.07 562500 3.98
Details of shares held by each shareholder holding more than 5% shares:
Class of shares / Name of shareholder As at 31 March, 2015st
As at 31 March, 2014st
50 ANNUAL REPORT 2014-2015
As at 31 March, 2015st
As at 31 March, 2014st
A.
Secured - -
- -
Secured - -
- -
B. 16,850,000.00 4,000,000.00
C. - -
16,850,000.00 4,000,000.00
16,850,000.00 4,000,000.00
Note (i) Loans and Advances from related party - Unsecured
Balance as on Balance as on
31 March 2015st
31 March 2014st
Mansi Narang 4,250,000.00 4,000,000.00
(Additional Director) - -
Naveen Narang 12,600,000.00 -
(Director)
16,850,000.00 4,000,000.00
Additional Note:-
Mrs Mansi Narang became Additional Director on 11/02/2015 therefore 4,000,000/- loan outstaning from Mansi narang as31/03/2014
has been reclassified above
Total
Unsecured
From other parties
Term loans
From banks
Unsecured
Loans and advances from related parties -Unsecured (Refer Note i
below)
Loans and advances from others - Unsecured
Particulars
Particulars As at 31 March, 2015st
As at 31 March, 2014st
A. Security Premium 127,728,000.00 39,375,000.00
B. Profit & Loss Account
Opening balance 14,935,420.95 10,960,640.48
Add: Transferred from surplus in Statement of Profit and Loss 4,779,178.52 3,974,780.47
Less: Net Surplus of Transferor co's(As per Scheme of Amalgamation) (35,095,521.92) (35,095,521.92)
Less: Dividend (3,121,845.00) -
Less: DDT (530,558.00) -
Less: Depreciation Adjustment (1,251,250.00) -
(20,284,575.45) (20,160,100.97)
TOTAL 107,443,424.55 19,214,899.03
Note 5 : Reserves and Surplus
Notes forming part of the financial statements
MAX HEIGHTS INFRASTRUCTURE LIMITED
Note 6 : Long-term Borrowings
51 ANNUAL REPORT 2014-2015
Note 7 : Short-term Borrowings
As at 31 March, 2015st
As at 31 March, 2014st
A. Loans repayable on demand
From Related Parties - Refer Note Below
Secured - -
Unsecured - 31,850,000.00
B. Loans repayable on demand - From Others
Secured - -
Unsecured - 11,701,000.00
Total - 43,551,000.00
Loans and Advances from related party - Unsecured
Balance as on Balance as on
31 March 2015st
31 March 2014st
Naveen Narang - 17,500,000.00
Nidhi Narang - 50,000.00
Sumitra Narang - 1,000,000.00
New Dimension Edumark LLP - 5,300,000.00
Manan Narang - 2,500,000.00
Apex Safety Glass Pvt. Ltd. - 5,500,000.00
- 31,850,000.00
Note - OD Limit of 38 lakh from Nainital Bank is secured against Fixed Deposit of 40 lakhs with Nainital Bank. The same is not utilised
Particulars
Notes forming part of the financial statements
MAX HEIGHTS INFRASTRUCTURE LIMITED
Total
Note 8 : Other current liabilities
As at 31 March, 2015st
As at 31 March, 2014st
A.
ICICI Bank - 1,162,474.90
B. - -
C. Other payables - -
- -
TDS Payable 76,082.00 131,022.00
17,033.80
3,708.00 -
7,600,000.00 11,100,000.00
Audit fees 99,000.00 99,000.00
Total 7,795,823.80 12,492,496.90
(iii) Expenses payable
Current maturities of long-term debt - Secured
Interest accrued and due on borrowings
i) Statutory remittances
(ii) Advances from Customers
Service Tax Due
Dividend Payable
Particulars
52 ANNUAL REPORT 2014-2015
Note 9 : Short-term provisions
As at 31 March, 2015st
As at 31 March, 2014st
A.
2,094,250.00 1,768,880.00
- -
2,094,250.00 1,768,880.00
(ii) Provision - others
Total
Particulars
Provisions
(i) Provision for Income tax
Notes forming part of the financial statements
MAX HEIGHTS INFRASTRUCTURE LIMITED
53 ANNUAL REPORT 2014-2015
Ba
lan
ce
as
at
1A
pri
l, 2
01
4st
Ad
dit
ion
sD
isp
os
als
Oth
er
ad
jus
tme
nts
Ba
lan
ce
as
at
31
Marc
h, 2015
st
Ba
lan
ce
as
at
1A
pri
l, 2
014
st
De
pre
cia
tio
n /
am
ort
isa
tio
n
ex
pe
ns
e f
or
the
ye
ar
De
pre
cia
tio
n
Ad
jus
tme
nt
Eli
min
ate
d o
n
dis
po
sa
l o
f
as
se
ts
Ba
lan
ce
as
at
31
Ma
rch
,st 2
01
5
Ba
lan
ce
as
at
31
Ma
rch
,st 2
01
5
Ba
lan
ce
as
at
31
Ma
rch
,st 2
01
4
AO
ffic
e P
rem
ise
s1
00
,00
0.0
0-
10
0,0
00
.00
--
--
--
--
10
0,0
00
.00
BV
eh
icle
s(
Ca
r)
Ow
ne
d11
,99
0,2
45
.00
1,5
03
,47
4.0
0-
10
,48
6,7
71
.00
4,3
96
,69
5.0
01
,211
,83
1.0
01
,22
5,6
87
.00
1,4
28
,30
1.0
05
,40
5,9
12
.00
5,0
80
,85
9.0
07
,59
3,5
50
.00
CO
ffic
e e
qu
ipm
en
t
Ow
ne
d6
9,7
00
.00
--
-6
9,7
00
.00
60
,66
9.0
0-
5,5
46
.00
-6
6,2
15
.00
3,4
85
.00
9,0
31
.00
DC
om
pu
ter
Ow
ne
d1
37
,28
0.0
0-
--
13
7,2
80
.00
11
7,1
65
.00
-1
3,2
51
.00
-1
30
,41
6.0
06
,86
4.0
02
0,1
15
.00
EM
ob
ile Ow
ne
d6
1,0
00
.00
--
-6
1,0
00
.00
11
,94
1.0
09
,811
.00
6,7
66
.00
-2
8,5
18
.00
32
,48
2.0
04
9,0
59
.00
To
tal
12
,35
8,2
25
.00
-1
,60
3,4
74
.00
-1
0,7
54
,75
1.0
04
,58
6,4
70
.00
1,2
21
,64
2.0
01
,25
1,2
50
.00
1,4
28
,30
1.0
05
,63
1,0
61
.00
5,1
23
,69
0.0
07
,77
1,7
55
.00
MA
X H
EIG
HT
S I
NF
RA
ST
RU
CT
UR
E L
IMIT
ED
No
tes
fo
rmin
g p
art
of
the
fin
an
cia
l s
tate
me
nts
Ne
t b
loc
k
No
te 1
0 :
Fix
ed
as
se
ts
Ta
ng
ible
As
se
ts
Gro
ss
blo
ck
Ac
cu
mu
late
d d
ep
rec
iati
on
an
d i
mp
air
me
nt
-
54 ANNUAL REPORT 2014-2015
Note 11 : Non-current investments
As at 31 March, 2015st
As at 31 March, 2014st
Unquoted Unquoted
Investments (At cost):
A. Non Trade @
(a) Investment in equity instruments (Fully Paidup)
(i) of subsidiaries - -
(Maxheights Township & Projects Pvt. Ltd.) 6,000,000.00 6,000,000.00
Maxheights Promoters Pvt. Ltd. 13,000,000.00 10,500,000.00
Icon Realcon Pvt. Ltd. 7,400,000.00 7,400,000.00
(ii) of associates - -
Maxheights Developers Pvt. Ltd. 2,500,000.00 2,500,000.00
28,900,000.00 26,400,000.00
Note 12 : Deferred Tax Assets/(Liability)
As at 31 March, 2015st
As at 31 March, 2014st
Opening DTL (87,607.00) (75,807.00)
(a) Depreciation 432,179.00 (17,690.00)
(b) Others( Loss/Profit on Sale of Fixed Assets) (30,698.00) 5,890.00
313,874.00 (87,607.00)
Note 13: Long Term Loans and Advances
As at 31 March, 2015st
As at 31 March, 2014st
(a) Capital Advances - -
(b) Security Deposit Unsecured Considered Goood
- Ansal Prop. & Infra. Ltd. 100,000.00 100,000.00
- Other Security Deposit - -
100,000.00 100,000.00
Particulars
Particulars
Particulars
Notes forming part of the financial statements
MAX HEIGHTS INFRASTRUCTURE LIMITED
Total
Total
Total
55 ANNUAL REPORT 2014-2015
Note 14 : Current investments
As at 31 March, 2015st
As at 31 March, 2014st
Quoted Quoted
A. Non Trade, Unquoted and Fully Paid - -
(at lower of cost and fair value)
Invement in Mutual Funds
Axis Equity Fund 89,917.72 89,917.72
89,917.72 89,917.72
Particulars
Notes forming part of the financial statements
MAX HEIGHTS INFRASTRUCTURE LIMITED
Total
Note 15 : Inventories
(At lower of cost and net realisable value)
As at 31 March, 2015st
As at 31 March,st
2014
A. Raw materials - -
Goods-in-transit - -
- -
B. Work-in-progress - -
Goods-in-transit - -
- -
C. Finished Goods
Real Estate 178,054,757.00 206,365,632.00
Shares 763,218.94 763,218.94
178,817,975.94 207,128,850.94
Total 178,817,975.94 207,128,850.94
Note 16 : Trade receivables
As at 31 March, 2015st
As at 31 March,st
2014
A.Trade receivables outstanding for a period exceeding six
months from the date they were due for payment
Secured, considered good - -
Unsecured, considered good 1,126,620.00 1,309,156.00
Doubtful - -
1,126,620.00 1,309,156.00
Less: Provision for doubtful trade receivables - -
1,126,620.00 1,309,156.00
B. Other Trade receivables
Secured, considered good - -
Unsecured, considered good - -
Doubtful - -
- -
Less: Provision for doubtful trade receivables - -
- -
Total 1,126,620.00 1,309,156.00
Particulars
Particulars
56 ANNUAL REPORT 2014-2015
Note 17 : Cash and cash equivalents
As at 31 March, 2015st As at 31 March, 2014st
A. Cash on hand 224,579.03 378,626.03
B. Cheques, drafts on hand - -
C. Balances with banks
(i) In current accounts 890,827.66 1,091,607.24
-
Total 1,115,406.69 1,470,233.27
Particulars
Notes forming part of the financial statements
MAX HEIGHTS INFRASTRUCTURE LIMITED
Note 18 : Short-term loans and advances
As at 31 March, 2015st As at 31 March, 2014st
A. Loans and Advances to Customers
Unsecured, considered good 62,205,980.00 23,285,471.00
62,205,980.00 23,285,471.00
B. Loans and advances to employees
Unsecured, considered good 72,500.00 -
72,500.00 -
C. Prepaid expenses
-Insurance 65,395.00
65,395.00 -
D. Balances with government authorities
Unsecured, considered good
(i) FBT Refundable 37,878.00 37,878.00
(ii) Income Tax Refund Refundable 683,337.00 683,337.00
(iii) Advance Income Tax 922,000.00 927,000.00
(iv) Tax Deducted at Source 1,302,650.00 749,102.00
2,945,865.00 2,397,317.00
E. Advances to Suppliers[ Recoverable in cash or in kind for
value to be received]
Unsecured, considered good 700,000.00 5,700,000.00
700,000.00 5,700,000.00
F. Others
(i) Deposits (Booking of Plot & Flat) 8,676,207.00 9,462,655.00
(i) Other 22,317.00 -
8,698,524.00 9,462,655.00
Total 74,688,264.00 40,845,443.00
Particulars
57 ANNUAL REPORT 2014-2015
Note 19: Revenue from operations
For the year ended
31 March, 2015st
For the year ended
31 March, 2014st
(a) Sale of products (Refer Note (i) below) 36,750,000.00 24,546,890.00
(b) Other operating revenues (Refer Note (ii) below) 9,429,834.00 10,911,260.87
46,179,834.00 35,458,150.87
Less:
(c) Excise duty - -
Total 46,179,834.00 35,458,150.87
Note (i) & (ii)
For the year ended 31 March,st
2015
For the year ended 31st
March, 2014
(i) Sale of products comprises :
Real Estate 36,750,000.00 15,200,000.00
Shares - 9,346,890.00
Total - Sale 36,750,000.00 24,546,890.00
(ii) Other operating revenues comprise:
(a) Interest income comprises:
(i) Interest from banks on:
Deposits 40,981.00 92,054.00
other balances - -
(ii) Interest on loans and advances 4,915,652.00 3,862,539.00
(b) Consultancy Income 2,000,000.00 4,039,467.87
(c) Commission Income/ Brokerage 2,473,201.00 2,916,948.00
(d) Other Income - 252.00
Total - Interest income 9,429,834.00 10,911,260.87
Total - Other operating revenues 9,429,834.00 10,911,260.87
Note 20: Other income
For the year ended 31 March,st
2015
For the year ended 31st
March, 2014
(a) Other non-operating income
Profit on sale of vehicle 102,327.00 19,054.00
Others 13,183.00 50,000.00
Total 115,510.00 69,054.00
Particulars
Particulars
MAXHEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the financial statements
Particulars
58 ANNUAL REPORT 2014-2015
Note 21: Changes in inventories of finished goods, work-in-progress and stock-in-trade
For the year ended 31st
March, 2015
For the year ended
31 March, 2014st
A.
178,054,757.00 206,365,632.00
763,218.94 763,218.94
- -
- -
178,817,975.94 207,128,850.94
B.
206,365,632.00 68,695,282.00
763,218.94 763,218.94
- -
- -
207,128,850.94 69,458,500.94
28,310,875.00 (137,670,350.00 )Net increase / (decrease)
Real Estate
Shares
Work-in-progress
Stock-in-trade
Stock-in-trade
Inventories at the beginning of the year:
Finished goods( trading goods)
Inventories at the end of the year:
Finished goods( trading goods)
Real Estate
Shares
Work-in-progress
Particulars
Note 22: Employee benefits expense
For the year ended 31 March,st
2015
For the year ended 31st
March, 2014
Salaries 3,083,668.00 3,077,700.00
Staff welfare expenses - 60,633.00
Director's Remuneration 840,000.00 622,000.00
Total 3,923,668.00 3,760,333.00
Note 23: Finance costs
For the year ended 31 March,st
2015
For the year ended 31st
March, 2014
A. Interest expense on:
(i) Borrowings 2,964,433.00 3,414,570.00
(ii) Others
Interest on Service Tax 2,999.00 5,700.00
Interest on TDS 6,889.00 559.00
Interest on Car Loan 25,078.20 78,856.40
Interest on Overdraft Limit - 22,622.00
B. Bank Charges 14,685.28 12,150.07
Total 3,014,084.48 3,534,457.47
Particulars
Particulars
Notes forming part of the financial statements
MAX HEIGHTS INFRASTRUCTURE LIMITED
59 ANNUAL REPORT 2014-2015
Note 24: Other expenses
For the year ended 31 March,st
2015
For the year ended 31st
March, 2014
Rent 480,000.00 360,000.00
Insurance 10,605.00 199,235.00
Telephone Charges 44,404.00 29,115.00
Printing And Stationery 28,745.00 33,348.00
Electricity, GAS And Water Expenses 376,504.00 249,761.00
Conveyence 52,405.00 -
Advertisement 109,967.00 85,263.00
Business Promotion 84,775.00 25,494.00
General Expenses 71,266.00 40,461.00
STT Paid - 22,484.72
Service Tax on Shares - 4,070.16
Vehicle Running and Maintenance 98,010.00 116,805.00
Filing Fees 224,700.00 3,500.00
(including Rs. 211500/- for increse in authorised capital)
Legal and Professional Charges 843,158.00 903,262.00
Annual Fees (BSE) - 44,944.00
Postage and Courier 936.00 1,024.00
Service Tax Paid 50,676.00 -
Preliminery Exp W\off - 18,482.00
D.P CHARGES - 766.85
Processing Charges 6,309.00 -
Computer Maintenance Charges - 7,450.00
Penalty on ROC Filling 2,400.00 -
Income Tax (APPEAL) - 1,000.00
BROKERAGE - 31,186.20
Annual Custody Fees 106,724.00 79,776.00
DSC Charges 5,300.00 -
Payment to Auditors( refer note below]
As Auditors - Statutory Audit 110,000.00 110,000.00
Total 2,706,884.00 2,367,427.93
Particulars
Notes forming part of the financial statements
MAX HEIGHTS INFRASTRUCTURE LIMITED
For the year ended 31 March,st
2015
For the year ended 31st
March, 2014
Payments to the auditors comprises
As auditors - statutory audit
For taxation matters
For company law matters
110,000.00 110,000.00
Total
Particulars
-- --
-- --
110,000.00 110,000.00
60 ANNUAL REPORT 2014-2015
Notes forming part of the financial statements
MAX HEIGHTS INFRASTRUCTURE LIMITED
Note 25: Earning Per Share
For the year ended March
31 , 2015st
For the year ended March
31 , 2014st
A. 4,779,178.52 3,974,780.47
B. 15,609,225 14,136,675
C. 0.31 0.28
Net Profit Available for Shareholders
No. of Equity Shares
Particulars
EPS
61 ANNUAL REPORT 2014-2015
26. Notes to the Accounts
I. BACKGROUND
a) INDOVEST FINANCIAL SERVICES LIMITED (IFSL)
NORTH DELHI CONSTRUCTION AND INVESTMENT PVT. LTD. (NDCIPL)
SHYAM MOTELS PRIVATE LIMITED (SMPL)
i.e. M/s MAX HEIGHTS INFRASTRUCTURE LIMITED (MHIL)
CURRENT ASSETS
III. EXPENDITURE/EARNINGS IN FOREIGN CURRENCY (ON ACCRUAL BASIS)
The Scheme of amalgamation was filed under section 391 read with section 394 of the Companies Act'1956
w.e.f. 01.04.2007 for amalgamation of the following transferor companies namely:-
(Which was into the business of finance and real estate.)
(Which was in to the business of Real
Estate activities.)
(Which was in to the business of entertainment activities.)
With the transferee Company
The same has been approved by the H'ble Delhi High Court vide order no 2246 dated 17th March '2009. The
Scheme of amalgamation where under the transferor Companies are to be amalgamated in its present form or
with any modification(s) approved or imposed or directed by members of the respective companies and/or by
competent authority and / or by the court.
In the opinion of the management, current assets, loans & advances have the value on the realization in the
ordinary course of business equal to the amount at which they are stated and all known liabilities have been
adequately provided for.
b)
c)
II.
Particulars For the year ended
March 31 , 201st 5
For the year ended
March 31 , 201st 4
Expenditure
On account of:
Traveling NIL NIL
Interest NIL NIL
Total:- NIL NIL
Earnings
Sale NIL NIL
Total:- NIL NIL
IV. CIF VALUE OF IMPORTS
Particulars For the year ended
March 31 , 201st 5
For the year ended
March 31 , 201st 4
Raw Materials NIL NIL
Consumables NIL NIL
Finished Goods NIL NIL
Capital Goods NIL NIL
Total:- NIL NIL
V. AUDITORS' REMUNERATION@
Particulars For the year ended
March 31 , 201st 5
For the year ended
March 31 , 201st 4
Audit Fee 110000.00 110000.00
Total:- 110000.00 110000.00
62 ANNUAL REPORT 2014-2015
VI.
VII.
DETAILS OF DUES TO MICRO AND SMALL ENTERPRISES AS DEFINED UNDER THE MSMED ACT, 2006
DIRECTORS' REMUNERATION
The information regarding applicability of MSMED Act, 2006 to the various suppliers/parties is not
available with the assessee, hence information as required vide Clause 22 of Chapter V of MSMED Act,
2006 is not been given.
Particulars For the year ended
March 31 , 2015st
For the year ended
March 31 , 2014st
Salary 8.40 Lacs 6.22 Lacs
PF Contribution Nil Nil
Leave Salary Nil Nil
Medical Expenses Nil Nil
Others Nil Nil
Total:- 8.40 Lacs 6.22 Lacs
I. RELATED PARTY DISCLOSURES
Key Management Personnel
In accordance with the requirements of Accounting Standards (AS) -18 on Related Party Disclosures, the
names of the related parties where control exists and/or with whom transactions have taken place during
the year and description of relationships, as identified and certified by the management are:
Satish Chander Narang Chairman
Naveen Narang Managing Director
Mukul Dhamija Director
Dinesh Kumar Director
Rakesh Pahwa Director
Mansi Narang Director
Jaspreet Kaur Company Secretary
Nate (a): The details of the related party transactions entered into by the Company during the year ended
March 31, 2015.
( in Lacs)
Name of the Party Relationship between Parties Description Amount
Max Heights Promoters Private Limited Two of the Director are
common
Investment in Shares 25.00
Satish Chander Narang & Sons H.U.F. Director is Karta of H.U.F. Rent 4.80
Manan Narang Brother of Director Interest 1.38
Nidhi Narang Sister of Director Interest 0.05
Mansi Narang Wife of Director Salary
Interest
6.00
4.53
Naveen Narang Director Remuneration
Interest
8.40
5.68
New Dimension Edumark LLP Two Director are Partner Interest 0.77
Apex Safety Glass Pvt. Ltd. One of the Director is
common
Interest 5.07
Sumitra Narang Wife of Director Interest 1.08
Pitampura Leasing & Housing Finance Ltd. One of the Director are
common
Interest 0.63
Herika Narang Wife of Brother of Director Salary 6.00
Note (b): The details of amounts due to or due from the related parties as of March 31, 2015
63 ANNUAL REPORT 2014-2015
Name of the Party Relationship between
Parties
Nature of Balance Amount
ICON Realcon Private Limited Subsidiary Company Investment 74.00
Maxheights Developers Private Limited Associates Investment 25.00
Maxheights Promoters Private Limited Subsidiary Company Investment 130.00
Maxheights Township & Projects Private
Limited
Subsidiary Company Investment 60.00
Mansi Narang Wife of Director Unsecured Loan 42.50
Naveen Narang Director Unsecured Loan 126.00
IX. SEGMENTAL REPORTING
b)
c)
The segmental reporting of the company has been prepared in accordance with accounting standard (AS-17),
Accounting for Segment reporting issued by The Institute of Chartered Accountants of India.
Segment reporting Policies:-
Before Amalgamation the company was a single segment company. After amalgamation of three
Transferor Companies, the company has identified three reportable segments viz. financing of
vehicles and other finance, Real Estate business and dealing in stock and shares.
The company operates entirely in India and hence no geographical segment has been made.
have been identified to the segment on the basis of relationship to operating
activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not
allocable to a segment on reasonable basis have been disclosed as unallocable expenses.
represent assets and liabilities in respective segments. Investments,
tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable
basis have been disclosed as unallocated assets and liabilities.
a) Identification of Segments :- Primary – Business Segment
Revenue and expenses
Segment assets and liabilities
Secondary – Geographical Segments
Particulars Finance Real Estate
Activity
Stock &
Shares
Total
EBITDA 45.31 61.72 --- 107.03
Depreciation 6.11 6.11 --- 12.22
Operating Profit 39.20 55.61 ---- 94.81
Interest 7.54 22.60 --- 30.14
EBT 31.66 33.01 --- 64.67
Less: Provision For Income Tax 20.94
Less: Provision of Deferred Tax Liability (4.06)
Net Profit Available 47.79
I. Notes 1 to 26 forms the integral part of the financial statements.
As per our report of even date
For Deepak Narang & Associates
Chartered Accountants
Firm Reg. No. 016594N
For and on Behalf of the Board
( in Lacs)
Sd/-
Deepak Narang
Partner
Membership No.097348
Place: New Delhi
Date: 03/06/2015
Sd/-
Jaspreet Kaur
Company Secretary
M.No.A38684
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
64 ANNUAL REPORT 2014-2015
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MAX HEIGHTS INFRASTRUCTURE LIMITED
Report on the Consolidated Financial Statements
Management's Responsibility for the Consolidated Financial Statements
Auditor's Responsibility
Opinion
We have audited the accompanying consolidated financial statements of MAX HEIGHTS INFRASTRUCTURE LIMITED
(hereinafter referred to as “the Holding Company”) and its subsidiaries (the Holding Company and its subsidiaries
together referred to as “the Group”) its associates and jointly controlled entities, comprising of the Consolidated Balance
Sheet as at 31 March, 2015, the Consolidated Statement of Profit and Loss, the Consolidated Cash Flow Statement for the
year then ended, and a summary of the significant accounting policies and other explanatory information (hereinafter
referred to as “the consolidated financial statements”).
The Holding Company's Board of Directors is responsible for the preparation of these consolidated financial statements in
terms of the requirements of the Companies Act, 2013 (hereinafter referred to as “the Act”) that give a true and fair view
of the consolidated financial position, consolidated financial performance and consolidated cash flows of the Group
including its Associates and Jointly controlled entities in accordance with the accounting principles generally accepted in
India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014. The respective Board of Directors of the companies included in the Group and of its associates and
jointly controlled entities are responsible for maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Group and for preventing and detecting frauds and other
irregularities; the selection and application of appropriate accounting policies; making judgments and estimates that are
reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that
were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the
preparation and presentation of the financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated
financial statements by the Directors of the Holding Company, as aforesaid.
Our responsibility is to express an opinion on these consolidated financial statements based on our audit.
While conducting the audit, we have taken into account the provisions of the Act, the accounting and auditing standards
and matters which are required to be included in the audit report under the provisions of the Act and the Rules made
thereunder.
We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those
Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the consolidated financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the
consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment
of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal financial control relevant to the Holding Company's preparation of
the consolidated financial statements that give a true and fair view in order to design audit procedures that are
appropriate in the circumstances but not for the purpose of expressing an opinion on whether the Holding Company has
an adequate internal financial controls system over financial reporting in place and the operating effectiveness of such
controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of
the accounting estimates made by the Holding Company's Board of Directors, as well as evaluating the overall
presentation of the consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
on the consolidated financial statements
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid consolidated
financial statements give the information required by the Act in the manner so required and give a true and fair view in
conformity with the accounting principles generally accepted in India, of the consolidated state of affairs of the Group, its
st
65 ANNUAL REPORT 2014-2015
associates and jointly controlled entities as at 31 March, 2015, and their consolidated profit/loss and their consolidated
cash flows for the year ended on that date.
1. As required by the Companies (Auditor's Report) Order, 2015 (“the Order”), issued by the Central Government of India
in terms of sub-section (11) of Section 143 of the Act, based on the comments in the auditors' reports of the Holding
company, subsidiary companies, associate companies and jointly controlled companies incorporated in India, we give in
the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.
2. As required by Section143(3) of the Act, we report, to the extent applicable, that:
We have sought and obtained all the information and explanations which to the best of our knowledge and
belief were necessary for the purposes of our audit of the aforesaid consolidated financial statements.
In our opinion, proper books of account as required by law relating to preparation of the aforesaid
consolidated financial statements have been kept so far as it appears from our examination of those books
and the reports of the other auditors.
The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss, and the Consolidated
Cash Flow Statement dealt with by this Report are in agreement with the relevant books of account
maintained for the purpose of preparation of the consolidated financial statements.
In our opinion, the aforesaid consolidated financial statements comply with the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
On the basis of the written representations received from the directors of the Holding Company as on 31st
March, 2015 taken on record by the Board of Directors of the Holding Company and the reports of the
statutory auditors of its subsidiary companies, associate companies and jointly controlled companies
incorporated in India, none of the directors of the Group companies, its associate companies and jointly
controlled companies incorporated in India is disqualified as on 31 March, 2015 from being appointed as a
director in terms of Section 164 (2) of the Act.
In our opinion and to the best of our information and according to the explanations given to us there is
nothing to be included in other matters in the Auditor's Report in accordance with Rule 11 of the
Companies (Audit and Auditor's) Rules, 2014.
st
st
Report on Other Legal and Regulatory Requirements
For Deepak Narang & Associates
Chartered Accountants
Firm Regn. No.: 016594N
Sd/-
Deepak Narang
Partner
M.No. 097348
Place : New Delhi
Date: 03.06.2015
a)
b)
c)
d)
e)
f)
66 ANNUAL REPORT 2014-2015
Annexure to the Auditors' Report
The Annexure referred to in our report to the members of MAX HEIGHTS INFRASTRUCTURE LIMITED for the year Ended on
31 March 2015.
We report that:
st
S.No. Particulars
(i) (a) the company is maintaining proper records showing full particulars, including quantitative details and
situation of fixed assets.
(b) That the fixed assets of the Company have been physical verified by the management at reasonable intervals
during the year and no serious discrepancies have been noticed on such verifications.
(ii) (a) The inventory of the company has been physically verified by the management at reasonable intervals .
(b) The procedures of physical verification of inventory followed by the management are reasonable and
adequate in relation to the size of the company and the nature of its business.
(c) The company has maintained proper records of inventory and no material discrepancies were noticed on
physical verification as compare to book records .
(iii) (iii) The company has not granted loans, secured or unsecured to companies, firms or other parties covered in
the register maintained under section 189 of the Companies Act.
(iv) In our opinion and according to the information and explanations given to us, there are adequate internal control
procedures commensurate with the size of the company and the nature of the business with regard to business
of the company. During the course of our audit, we neither come across nor have been informed of any
weakness in the aforesaid internal control procedure .
(v) During the year under audit, the Company has not accepted deposits accordingly the directives issued by the
Reserve Bank of India and the provisions of sections 73 to 76 or any other relevant provisions of the Companies
Act and the rules framed there under are not applicable.
(vi) To the best of our knowledge Central Government has not prescribed maintenance of cost records under sub-
section (1) of section 148 of the Companies Act;
(vii) (a) According to our opinion the company is regular in depositing undisputed statutory dues including income-
tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues with the
appropriate authorities.
(b) According to information and explanation given to us, there are no dues of income tax, sales tax, excise duty
or cess outstanding on account of any dispute.
(c) In our opinion and according to explanation given to us no amount is required to be transferred to investor
education and protection fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956)
and rules made thereunder.
(viii) The company has not any accumulated business loss at the end of the current financial year. The company does
not incurred cash loss during the financial year covered by our audit and no cash loss has been incurred in the
immediately preceding financial year.
(ix) In our opinion and according to the information and explanation given to us, the company has not defaulted in
the repayment of dues to financial institution, bank or debenture holders.
(x) According to the information and explanation given to us the company has not given any guarantee for loans
taken by others from bank or financial institution, the terms and conditions whereof are prejudicial to the
interest of the company.
(xi) In our opinion the company has applied the term loans for the purpose for which these were raised .
(xii) Based upon the audit procedures performed and the information and explanations given by the management,
we report that no fraud on or by the company has been noticed or reported during the course of our audit.
For Deepak Narang & Associates
Chartered Accountants
Firm Regn. No.: 016594N
Sd/-
Deepak Narang
Partner
M.No. 097348
Place : New Delhi
Date: 03.06.2015
67 ANNUAL REPORT 2014-2015
MAX HEIGHTS INFRASTRUCTURE LIMITED
Note No. As at 31 March, 2015st
As at 31 March, 2014st
A EQUITY AND LIABILITIES
1 Shareholder’s Funds
(a) Share capital 4 156,092,250.00 141,366,750.00
(b) Reserves and surplus 5 112,400,445.24 23,682,634.95
268,492,695.24 165,049,384.95
2 Share application money pending allotment - 62,633,723.00
3 Minority Interest 29,793,346.99 27,396,864.39
4 Non-current liabilities
(a) Long-term borrowings 6 204,610,000.00 46,060,000.00
(b) Deferred tax liabilities(net) - 98,063.00
(c) Other long term liabilities - -
(d) Long Term Provisions - -
204,610,000.00 46,158,063.005 Current liabilities
(a) Short-term borrowings 7 491,266,839.00 206,391,000.00
(b) Trade payables 8 305,750,470.34 370,809,302.40
(c) Other current liabilities 9 1,543,257,108.05 1,316,294,288.15
(d) Short-term provisions 10 2,417,370.00 1,891,140.00
2,342,691,787.39 1,895,385,730.55
2,845,587,829.62 2,196,623,765.89
B ASSETS
1 Non-current assets
(a) Fixed assets
(i) Tangible assets 11 10,081,559.52 11,303,417.40
(ii) Intangible assets - -
(iii) Capital Work in Progress - -
(b) Non-current investments - -
(c) Deferred Tax Assets 340,759.00 -
(c) Long-term loans and advances 12 1,659,100.00 1,427,000.00
12,081,418.52 12,730,417.40
2 Current assets
(a) Current Investments 13 89,917.72 89,917.72
(b) Inventories 14 2,317,521,816.02 2,037,214,664.47
(c) Trade receivables 15 1,126,620.00 1,309,156.00
(d) Cash and cash equivalents 16 140,198,120.55 21,015,451.48
(e) Short-term loans and advances 17 371,530,629.81 122,783,529.82
(f) Other current assets 18 3,039,307.00 1,480,629.00
2,833,506,411.10 2,183,893,348.49
2,845,587,829.62 2,196,623,765.89
See accompanying notes forming part of the financial
statements
Accounting Policies 3
Notes to the Accounts 26
Consolidated Balance Sheet as at 31 March, 2015st
Particulars
1-26
In terms of our report attached
For Deepak Narang & Associates
Chartered Accountants
Firm Regd. No. 016594N
For and on behalf of the Board of Directors
Sd/-
Deepak Narang
Partner
Membership No.097348
Place: New Delhi
Date: 03/06/2015
Sd/-
Jaspreet Kaur
Company Secretary
M.No.A38684
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
68 ANNUAL REPORT 2014-2015
1 Revenue from operations (gross) 19 46,179,834.00 35,458,150.87
Less: Excise duty - -
Revenue from operations (net) 46,179,834.00 35,458,150.87
2 Other income 20 3,657,679.02 1,678,160.19
3 Total revenue (1+2) 49,837,513.02 37,136,311.06
4 Expenses
(a) Purchases 298,382,061.26 156,591,260.00
(b) Work-in-progress 10,887,465.29 825,991,244.60
(c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade
21 (280,307,151.55) (963,661,594.60)
(d) Employee benefits expense 22 4,103,668.00 3,760,333.00
(e) Finance costs 23 3,785,017.56 3,557,329.47
(f) Depreciation and amortisation expense 11 2,165,077.00 1,801,380.00
(g) Other expenses 24 3,754,057.27 3,087,419.33
Total expenses 42,770,194.83 31,127,371.80
5 Profit / (Loss) before exceptional and
extraordinary items and tax (3 - 4)
7,067,318.19 6,008,939.26
6 Exceptional items - - -
7 Profit / (Loss) before extraordinary items and
tax (5 + 6)
7,067,318.19 6,008,939.26
8 Extraordinary items - - -
9 Profit / (Loss) before tax (7 + 8) 7,067,318.19 6,008,939.26
10 Tax expense:
(a) Current tax 2,417,370.00 1,891,140.00
(b) Earlier years tax (5,257.00)
(c) Deferred tax (438,822.00) 22,256.00
1,973,291.00 1,913,396.00
11 Profit / (Loss) from continuing operations (9
+10)
5,094,027.19 4,095,543.26
12 Minority Interest 138,810.90 120,762.79
13 Profit / (Loss) for the year Trasfereed to CPL
Adjustment A/c
4,955,216.29 3,974,780.47
14 Earnings per share (of Rs. 10/- each):
Basic 25 0.35 0.29
Diluted 25 0.35 0.29
See accompanying notes forming part of the
financial statements
Accounting Policies 3
Notes to the Accounts 26
Statement of Consolidated Profit and Loss for the year ended 31 March, 2015st
1-26
In terms of our report attached
For Deepak Narang & Associates
Chartered Accountants
Firm Regd. No. 016594N
For and on behalf of the Board of Directors
Sd/-
Deepak Narang
Partner
Membership No.097348
Place: New Delhi
Date: 03/06/2015
Sd/-
Jaspreet Kaur
Company Secretary
M.No.A38684
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
MAX HEIGHTS INFRASTRUCTURE LIMITED
Particulars Note
No.
69 ANNUAL REPORT 2014-2015
For the year ended March
31,2015
For the year ended
March 31,2014
A. Cash flow from operating activities
Net Profit / (Loss) before extraordinary items and tax 7,067,318.19 6,008,939.26
Adjustments for:
Depreciation and amortisation 2,165,077.00 1,801,380.00
Profit/ loss on sale of vehicle (102,327.00) (19,054.00)
Interest Received (8,465,584.13) -
Preliminary Expenses 340,384.00 (1,079,727.81)
Interest 3,051,388.38 3,557,329.47
-Operating profit / (loss) before working capital changes 4,056,256.44 10,268,866.92
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Inventories (280,307,151.55) (1,081,690,190.60)
Trade receivables 182,536.00 253,157.00
Short Term Loans & Advances (226,247,099.99) 126,559,551.04
Other current assets (1,558,678.00) (882,272.00)
Short Term Provisions 497,540.00 (625,580.00)
Trade Payable & other liabilities 169,403,987.84 642,230,433.90
Cash Generated from Operating activities (333,972,609.26) (303,886,033.74)
Minority Interest - 120,762.79
Taxes Paid 2,383,423.00 1,913,396.00
Net Cash Flow from operating activities (336,356,032.26) (305,920,192.53)
.B. Cash Flow from Investing Activities
Addition to Fixed Assets (2,375,145.42) (1,579,582.00)
Deletion to Fixed Assets 233,538.00 1,752,273.00
Sale/(Purchase) of Investments (2,500,000.00) 9,900,000.00
Interest Received 8,465,584.13 -
Long Term Loans & Advances (200,000.00) (288,470.00)
Net Cash Flow from Investing Activities 3,623,976.71 9,784,221.00
C. Cash Flow from Financing Activities
Proceeds from Issue of Shares 103,078,500.00 62,633,723.00
Proceeds from issue of shares of minorities & associates 4,780,000.00 17,550,000.00
Share Appliaction money refunded (62,633,723.00) -
Proceeds from Borrowing 592,816,839.00 (27,213,484.90)
Repayment of Borrowing (179,423,100.00) 242,888,240.50
Interest Payments (3,051,388.38) (3,557,329.47)
Dividend Paid (3,121,845.00) -
DDT Paid (530,558.00) -
Net Cash Flow from Financing Activities 451,914,724.62 292,301,149.13
Net Cash Flow during the year (A+B+C) 119,182,669.07 (3,834,822.40)
Cash & Cash Equivalent (Opening Balance) (D) 21,015,451.48 24,850,273.88
Cash & Cash Equivalent (Closing Balance) (E) 140,198,120.55 21,015,451.48
Net Increase/(Decrease) in Cash & Cash Equivalents 119,182,669.07 (3,834,822.40)
Consolidated Cash Flow Statement for the year ended March 31, 2015
MAX HEIGHTS INFRASTRUCTURE LIMITED
In terms of our report attached
For Deepak Narang & Associates
Chartered Accountants
Firm Regd. No. 016594N
For and on behalf of the Board of Directors
Sd/-
Deepak Narang
Partner
Membership No.097348
Place: New Delhi
Date: 03/06/2015
Sd/-
Jaspreet Kaur
Company Secretary
M.No.A38684
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Particulars For the year ended March
31,2015
For the year ended
March 31,2014
70 ANNUAL REPORT 2014-2015
MAXHEIGHTS INFRASTRUCTURE LIMITEDNOTES FORMING PART OF THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH, 2015
Note 1 :
CORPORATE INFORMATION
Note 2 :
BASIS OF PREPARATION
Note 3 :
ACCOUNTING POLICIES
3.1 BASIS OF CONSOLIDATION
3.2 PRINCIPLES OF CONSOLIDATION:
3.3 CAPITAL RESERVE:
st
MAXHEIGHTS INFRASTRUCTURE LIMITED ('holding Company') incorporated in India on July 28, 1981, a company
incorporated under the laws of India. The Company's shares are publicly traded on the Bombay Stock Exchange
('BSE'), and Calcutta Stock Exchange. The Registered office of the Company is situated at SD – 65, Tower
Appartments Pitampura, New Delhi - 110034
The financial statements of the Company have been prepared in accordance with the generally accepted accounting
principles in India (Indian GAAP). The financial statements have been prepared to comply in all material respects with
the accounting standards notified under the Companies (Accounts) Rules, 2015 and the relevant provisions of the
Companies Act, 2013. The financial statements have been prepared under the historical cost convention on an
accrual basis. The accounting policies have been consistently applied by the Company and are consistent with those
used in the previous year, except for the change as explained in note the below.
Significant accounting policies are summarized below:
The consolidated financial statements are prepared in accordance with Accounting Standard 21 (AS 21) on
Consolidated Financial Statemets as notified under the Companies (Accounting Standards) Rules, 2006, as
amended. Reference in these notes to the Company, Holding Company, Companies or Group shall mean to
include Max Heights Infrastructure Limited (“MHI”) (“The Company”) or any of its Subsidiaries and associates,
unless otherwise stated.
The Consolidated Financial Statements comprise of the Financial Statements of Max Heights Infrastructure
Limited (“Parent Company”) and its Subsidiary Enterprises and Associated concerns. The Consolidated
Financial Statements are prepared according to uniform accounting policies, in accordance with accounting
principles generally accepted in India. The Consolidated Financial Statements are combined on a line-by-line
basis by adding together the book values of like items of assets, liabilities, income and expenses, after fully
eliminating intra-group balances and intra-group transactions resulting in unrealized profits or losses in
accordance with Accounting Standard 21 (AS 21) Consolidated Financial Statements as notified under the
Companies (Accounting Standards) Rules, 2006, as amended.
The difference between the cost of investment in the subsidiaries and the net assets at the time of acquisition of
shares in the subsidiaries is recognized in the Consolidated Financial Statements as Capital Reserve. Capital
Reserve represents the difference between the Company's share in the net worth of subsidiaries and the
associates and the cost of acquisition at each point of time of making the investment in the subsidiaries and the
associates. For this purpose, the Company's share of net worth is determined on the basis of the latest financial
statements of such subsidiaries, prior to the acquisition, after making the necessary adjustments for material
events between the date of such financial statements and the date of such respective acquisition.
71 ANNUAL REPORT 2014-2015
3.4 MINORITY INTEREST:
3.5 COMPANIES INCLUDED IN CONSOLIDATION:
The portion of a Subsidiary Company stock that is not owned by the Parent Company is recognized in the
Consolidated Financial Statements as Minority Interest. Minority Interests in the net income of Consolidated
Subsidiaries for the period is adjusted against the income of the group in order to arrive at the net income
attributable to the Parent Company. The amount of equity attributable to minorities at the date on which investment
in the subsidiaries is made and the minorities' share of movements in equity since the date the parent-subsidiary
relationship came into existence is identified and presented in the Consolidated Balance Sheet.
NAME OF THE ENTERPRISE PROPORTION OF
OWNERSHIP INTEREST
YEAR/ PERIOD ENDED
INCLUDED IN
CONSOLIDATION
MAX HEIGHTS TOWNSHIP & PROJECTS PRIVATE LIMITED (SUBSIDIARY) 54.86% April 01, 201 4 to March
31,2015
MAX HEIGHTS DEVELOPERS PRIVATE LIMITED (ASSOCIATE) 47.17% April 01, 201 4 to March
31,2015
ICON REALCON PRIVATE LIMITED (SUBSIDIARY) 74.00% April 01, 201 4 to March
31,2015
MAX HEIGHTS PROMOTERS PRIVATE LIMITED (SUBSIDIARY) 65.00% April 01, 201 4 to March
31,2015
3.6 Change in accounting policy - presentation and disclosure of financial statements
3.7 Use of estimates
3.8 Revenue recognition
The Company has reclassified the previous year figures in accordance with the requirements applicable in the
current year and same had been notified wherever required.
Accounting estimates could change from period to period. Actual result could differ from those estimates.
Appropriate changes in estimates are made as the Management becomes aware of changes in circumstances
surrounding the estimates. Changes in estimates are reflected in the financial statements in the period in which
changes are made and, if material, their effects are disclosed.
A. Based on the stage of completion at the balance sheet date, taking into
account the contractual price and revision thereto by estimating total revenue including claims / variations as
per Accounting Standard 7 and total cost till completion of the contract and the profit so determined has been
accounted for proportionate to the percentage of the actual work done.
B. Under the completed contract method, revenue is recognized only when the
contract is completed or substantially completed; that is, when only minor work is expected other than
warranty obligation. Costs and progress payments received are accumulated during the course of the contract
l
l
l
l
The financial statements of the Company have been prepared and presented for the year ended March31, 2015, as per the format prescribed under the Schedule III notified under the section 129 ofCompanies Act, 2013. The adoption of Schedule III does not impact recognition and measurementprinciples followed for the preparation of the financial statements.
The preparation of the financial statement in conformity with generally accepted accounting policiesrequires management to make estimates and assumptions that affect the reported balances of assets& liabilities and disclosure relating to contingent assets & liabilities as at the date of the financialstatements and reported amounts of income & expenses during the period.
Construction Contract : Revenue recognition and Valuation of Contract WIP are as per the AccountingStandard – 7 (AS 7).
AS perAS 7 revenue is recognized as per following method:
Percentage of Completion Method :
Completed Contract Method :
72 ANNUAL REPORT 2014-2015
but revenue is not recognized until the contract activity is substantially complete.
Maxheights Township & Projects Private Limited follow Completed Contract method for the purpose of revenue
reorganization.
On the other hand Icon Realcon Private Limited, Maxheights Promoter Private Limited follows Percentage of
Completion method.
Amount received against sale of residential Units the construction work of which is in progress and not
substantially completed are accounted for under the head current liabilities as and when received.
: Revenue from sale of products which majorly comprises of Real Estate and Sale of Shares is
recognized in the financial year in which the agreement to sell is executed.
: Interest income from deposits and others is recognized on accrual basis (i.e. time proportion basis).
: Profit on sale of investment is recognized on the date of transaction of sale and is
computed with reference to the cost of investments.
Gains and losses arising from retirement or disposal of the tangible assets are determined as the difference
between the net disposal proceeds and the carrying amount of the asset and are recognized in statement of
profit and loss on the date of retirement and disposal.
Depreciation on tangible assets is provided on the straight-line method over the useful lives of assets estimated
by the Management. Depreciation for assets purchased / sold during a period is proportionately charged. The
Management estimates the useful lives for the other fixed assets as follows :
l
l
l
l
l
l
Sale of Products
Interest
Profit on sale of Investment
3.9 Tangible Assets
3.10 Depreciation and Amortization
Tangible assets are stated at cost, less accumulated depreciation and impairment, if any. Direct costsare capitalized until such assets are ready for use.
S.No. Assets Life as per schedule II Life Taken
1. Vehicles 8 Years 8 Years
2. Computers 3 Years 3 Years
3. Mobile Phone 5 Years 5 Years
4. Office Equipment 5 years 5 years
5. Fax Machine 5 Years 5 Years
6. Furniture and Fixtures 10 Years 10 Years
7. Air conditioner 5 years 5 years
8. Photocopier Machine 5 Years 5 Years
9. Water Purifier 5 Years 5 Years
10. Mixer Machine Set 5 Years 5 Years
11. Note Counting Machine 5 Years 5 Years
12. DG Set 5 Years 5 Years
13. Printer 3 Years 3 Years
14. Refrigerator 5 Years 5 Years
15. Motorcycle 10 Years 10 Years
3.11 Investments
3.12 Inventories
l Investments are either classified as current or long-term based on Management's intention at the timeof purchase. Current investments are carried at the lower of cost and fair value of each investmentindividually. Long term investments are carried at cost less provisions recorded to recognize anydecline, if any, other than temporary, in the carrying value of each investment.
Inventories are valued as under:
73 ANNUAL REPORT 2014-2015
Building material and consumable stores are valued at cost, which is determined on the basis of FIFO.
Land is valued at cost, which is determined on average method. Cost includes cost of acquisition and all related
costs.
Construction work in progress is valued at cost. Cost includes cost of material, services and other related
overheads related to project under construction.
Unsold Portion / Portion under construction is shown at cost under the head stock in trade Construction
Activity.
Inventory of shares has been valued at cost.
The Company had not done any foreign currency transactions during the year.
Short term employee benefits are recognized in the year during which the services have been rendered.
The employees of the Company are entitled to compensate absences which are non-accumulating in nature.
Expense on non-accumulating compensated absences is recognized in the period in which the absences occur.
No employee of the company has been into employment of the company for more than 5 Years. Therefore no
provision is accrued for gratuity and leave encashment.
Financial Costs relating to borrowed funds attributable to the acquisition or construction of fixed assets which
takes substantial period of time to get ready for its intended use is capitalized as part of the cost of that asset in
accordance to AS 16. The interest cost incurred for funding a qualifying asset during the construction period is
capitalized based on actual investment in the asset at the average interest rate for specific borrowings.
However, financing costs (including interest) on fixed assets purchased on deferred credit basis or on the
monies borrowed for the construction or acquisition of fixed assets are not capitalized to the extent that such
costs relate to periods after such assets are ready to be put to use.
Income taxes are accrued in the same period that the related revenue and expenses arise. A provision is made
for income tax annually, based on the tax liability computed, after considering tax allowances and exemptions.
Provisions are recorded when it is estimated that a liability due to disallowances or other matters is probable.
The Company offsets, on a year on year basis, the current tax assets and liabilities, where it has a legally
enforceable right and where it intends to settle such assets and liabilities on a net basis.
Provision for income tax of Rs. 20.94 Lacs has been made in the accounts for the year ending 31 March 2015,
which has been worked out on the basis of taxable income as per the Income Tax Act 1961.
Deferred income taxes reflects the impact of current year timing differences between taxable income and
accounting income for the year and reversal of timing differences of earlier years. Deferred tax is measured
based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date.
l
l
l
l
l
l
l
l
l
l
l
l
3.13 Foreign Currency Translation
3.14Employee Benefits
3.15 Borrowing Cost
3.16 Taxes on Income
st
S.No. Company Deferred Tax Liability / (Assets)
As on 31st
March 2015 As on 31st
March 2014
1. Maxheights Infrastructure Limited (313874.00) 87607.00
2. Maxheights Township & Projects Private limited (33024.00) -
3. ICON Realcon Private Limited 6139.00 10456.00
4. Maxheights Developers Private limited - -
5. Max Heights Promoters Private Limited - -
Consolidated Deferred Tax (Assets)/Liability (340759.00) 98063.00
74 ANNUAL REPORT 2014-2015
3.17 Earnings Per Share
3.18 Cash & Cash equivalents
3.19 Current Assets
3.20Cash Flow Statement
3.21 Amalgamation Expenditure
3.22 Provisions and contingencies
l
l
l
l
l
l
l
l
The earnings considered in ascertaining the Company's Earnings Per Share ('EPS') comprise of the net profit
after tax and dividend on preference shares attributable to equity shareholders. The number of shares used in
computing basic EPS is the number of shares outstanding during the year. The diluted EPS is calculated on the
same basis as basic EPS, after adjusting for the effects of potential dilutive equity shares (if any) unless impact is
anti dilutive.
In the opinion of the management, current assets, loans & advances have the value on the realization in the
ordinary course of business equal to the amount at which they are stated and all known liabilities have been
adequately provided for.
Cash flows are reported using the indirect method, where by profit before tax is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or
payments and item of income or expenses associated with investing or financing cash flows. The cash flows
from operating, investing and financing activities of the Company are segregated.
These are amortized and charged to expenses over a period of five years.
A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by
the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
Company or a present obligation that is not recognized because it is not probable that an outflow of resources
embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot
be measured with sufficient reliability.
Cash and cash equivalents comprise of cash and cash on deposit with banks and corporations. TheCompany considers all highly liquid investments with a remaining maturity at the date of purchase ofthree months or less and that are readily convertible to known amounts of cash to be cash equivalents.
Cash in hand has been certified by the management at the close of the year.
Provisions are recognized when the Company has a present obligation as a result of past event; it ismore likely than not that an outflow of resources will be required to settle the obligation, in respect ofwhich a reliable estimate can be made.
In terms of our report attached
For Deepak Narang & Associates
Chartered Accountants
Firm Regd. No. 016594N
For and on behalf of the Board of Directors
Sd/-
Deepak Narang
Partner
Membership No.097348
Place: New Delhi
Date: 03/06/2015
Sd/-
Jaspreet Kaur
Company Secretary
M.No.A38684
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
75 ANNUAL REPORT 2014-2015
Note 4 : Share capital
Number of shares Number of shares
(a) Authorised
17000000 Equity shares of 10 each with voting rights 17,000,000 170,000,000.00 14,650,000 146,500,000.00
(b) Issued
15609225 Equity shares of 10 each with voting rights 15,609,225 156,092,250.00 14,136,675 141,366,750.00
(c) Subscribed and fully paid up
15609225 Equity shares of 10 each with voting rights 15,609,225 156,092,250.00 14,136,675 141,366,750.00
Total 156,092,250.00 141,366,750.00
Notes:
Particulars Opening Balance Fresh issue Closing Balance
Equity shares with voting rights
Year ended 31 March, 2015
- Number of shares 14,136,675 1,472,550 15,609,225
- Amount 141366750.00 14,725,500.00 156,092,250.00
Year ended 31 March, 2014 -
- Number of shares 14,136,675 - 14,136,675
- Amount 141366750.00 - 141,366,750.00
(ii) Shares: The company has only one class of equity shares having face value of 10/- each.
Each Shareholder is eligible for one vote per share held.
Number of shares
held
% holding in that class
of shares
Number of shares
held
% holding in that class
of shares
Equity shares with voting rights
Sumitra Narang 586963 3.76 586963 4.15
Manan Narang 819437 5.25 819437 5.8
Naveen Narang 4193861 26.87 4193861 29.67
Satish Chander Narang 1766351 11.32 1766351 12.49
Ranjitgarh Finance Company Private Limited 948200 6.07 562500 3.98
MAX HEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the Consolidated financial statements
(iii) Details of shares held by each shareholder holding more than 5% shares:
Class of shares / Name of shareholder As at 31 March, 2015st
As at 31 March, 2014st
As at 31 March, 2015st
As at 31 March, 2014st
(i) Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the reporting period:
Particulars
76 ANNUAL REPORT 2014-2015
Note 6 : Long-term borrowings
As at 31 March, 2015st As at 31 March, 2014st
A. 204,610,000.00 46,060,000.00
B. - -
204,610,000.00 46,060,000.00
204,610,000.00 46,060,000.00
Loans and advances from related parties -Unsecured
Loans and advances from others - Unsecured
Total
ParticularsS.No.
As at 31 March,st
2015
As at 31 March,st
2014
A. Capital Reserve 5,568,802.08 5,568,802.08
B. Security Premium Reserve 127,728,000.00 39,375,000.00
C. Profit & Loss Account
Opening balance 15,012,321.39 10,984,395.40
Add: Profit as per Statement of Profit 4,955,216.29 3,974,780.47
Share in Profit of Subsidairy - 53,145.52
Less: Dividend paid (3,121,845.00) -
DDT Paid (530,558.00) -
Depreciation Adjustment (1,278,387.00) -
Net Surplus (As per Scheme of Amalgamation) (35,095,521.92) (35,095,521.92)
Preliminary Expenses not written off (837,582.60) (20,896,356.84) (1,177,966.60) (21,261,167.13)
Total 112,400,445.24 23,682,634.95
MAX HEIGHTS INFRASTRUCTURE LIMITED
Note 5 Reserves and surplus
Notes forming part of the Consolidated financial statements
Particulars
77 ANNUAL REPORT 2014-2015
Note 8 : Trade payables
As at 31 March, 2015st As at 31 March, 2014st
Trade payables:
Sundry Creditors 305,750,470.34 370,809,302.40
(See Note below) - -
Total 305,750,470.34 370,809,302.40
Particulars
As the company has not received any information from any of the creditors of their being a micro or small scale industries
undertaking hence amount due to micro or small scale industrial undertaking as on the balance sheet are not ascertainable.
Note 7 : Short-term borrowings
As at 31 March, 2015st As at 31 March, 2014st
A Loans repayable on demand from Bank
OD Limit From SBI 150,826,839.00 -
B Loans repayable on demand
(From related parties)
Secured - -
Unsecured - 155,990,000.00
C Loans repayable on demand
(Shareholders & Others)
Secured - -
Unsecured 340,440,000.00 50,401,000.00
Total 491,266,839.00 206,391,000.00
MAX HEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the Consolidated financial statements
ParticularsS.No.
78 ANNUAL REPORT 2014-2015
MAX HEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the Consolidated financial statements
Note 9 : Other current liabilities
As at 31 March, 2015st As at 31 March, 2014st
A. Current maturities of long-term debt - Secured
ICICI Bank - 1,162,474.90
B. Other payables
(i) Statutory remittances
TDS Payable 1,541,648.00 466,812.00
Service Tax Due 50,562.00 112,860.00
(ii) Advances from customers 19,883,408.00 4,000,000.00
Against Booking 1,520,781,375.25 1,308,711,768.25
(iii) Expenses payable 540,882.80 1,381,141.00
(v) Security Deposits 459,232.00 459,232.00
Total 1,543,257,108.05 1,316,294,288.15
ParticularsS.No.
Note 10 : Short-term provisions
As at 31 March, 2015st As at 31 March, 2014st
A. Provision for employee benefits - -
B. Provision for taxation 2,417,370.00 1,891,140.00
Total 2,417,370.00 1,891,140.00
ParticularsS.No.
79 ANNUAL REPORT 2014-2015
Balan
ce
as at
1 Apri
l, 201
3
Addit
ions
Dispo
sals
Othe
r adju
stmen
tsBa
lance
as at
31 M
arch,
2014
Balan
ce
as at
1 Apri
l, 201
3
Depre
ciatio
n /
amort
isatio
n exp
ense
for
the ye
ar
Depre
ciatio
n
Adjus
tmen
t
Elimina
ted on
dispo
sal
of ass
ets
Balan
ce
as at
31 M
arch,
2014
Balan
ce
as at
31 M
arch,
2014
Balan
ce
as at
31 M
arch,
2013
(i)Air
condit
ioner
109,0
00.00
--
-10
9,000
.0028
,640.2
014
,348.0
017
,519.8
0-
60,50
8.00
48,49
2.00
80,35
9.80
(ii)Off
ice Pr
emise
s10
0,000
.00-
100,0
00.00
--
--
--
-10
0,000
.00
(iii)
Comp
uter
348,9
38.00
52,00
0.00
--
400,9
38.00
287,6
40.80
19,69
7.00
15,73
5.00
-32
3,072
.8077
,865.2
061
,297.2
0
(iv)Fax
Mach
ine5,9
00.00
--
-5,9
00.00
2,820
.452,7
85.00
--
5,605
.4529
4.55
3,079
.55
(v)Fur
niture
and F
ixture
s13
7,688
.00-
--
137,6
88.00
23,26
3.30
16,17
0.00
--
39,43
3.30
98,25
4.70
114,4
24.70
(vi)Mo
biles
61,00
0.00
46,00
0.00
--
107,0
00.00
11,94
1.00
16,15
6.00
6,766
.00-
34,86
3.00
72,13
7.00
49,05
9.00
(vii)
Mixer
Mach
ine Se
t53
,760.0
0-
--
53,76
0.00
14,91
8.00
12,05
1.00
--
26,96
9.00
26,79
1.00
38,84
2.00
(viii)
Note
Coun
ting M
achine
30,37
5.00
--
-30
,375.0
08,4
28.25
6,809
.00-
-15
,237.2
515
,137.7
521
,946.7
5
(ix)Off
ice eq
uipme
nt10
5,388
.00-
--
105,3
88.00
80,91
6.50
3,555
.0012
,092.0
0-
96,56
3.50
8,824
.5024
,471.5
0
(x)Pri
nter
11,90
0.00
--
-11
,900.0
059
2.00
5,357
.00-
-5,9
49.00
5,951
.0011
,308.0
0
(xi)Ph
otocop
ier M
achine
45,00
0.00
--
-45
,000.0
028
,027.5
0-
14,72
2.50
-42
,750.0
02,2
50.00
16,97
2.50
(xii)
Refrig
erator
7,500
.00-
--
7,500
.0043
4.00
1,673
.00-
-2,1
07.00
5,393
.007,0
66.00
(xiii)
Water
Purifi
er20
,812.0
0-
--
20,81
2.00
11,57
8.15
-8,1
93.00
-19
,771.1
51,0
40.85
9,233
.85
(xiv)
Vehic
les17
,993,1
35.00
1,655
,045.4
21,5
03,47
4.00
-18
,144,7
06.42
7,227
,778.4
52,0
06,49
7.00
1,225
,687.0
01,4
28,30
1.00
9,031
,661.4
59,1
13,04
4.97
10,76
5,356
.55
(XV)
Platin
a 100
CC Al
loy-
43,96
2.00
--
43,96
2.00
-1,0
41.00
--
1,041
.0042
,921.0
0-
(XVI)
DG Se
ts-
622,1
00.00
--
622,1
00.00
-58
,938.0
0-
-58
,938.0
056
3,162
.00-
Total
19,03
0,396
.002,4
19,10
7.42
1,603
,474.0
0-
19,84
6,029
.427,7
26,97
8.60
2,165
,077.0
01,3
00,71
5.30
1,428
,301.0
09,7
64,46
9.90
10,08
1,559
.5211
,303,4
17.40
Previo
us yea
r19
,184,0
33.00
1,579
,582.0
01,7
33,21
9.00
-19
,030,3
96.00
6,250
,871.6
01,8
01,38
0.00
-32
5,273
.007,7
26,97
8.60
11,30
3,417
.4012
,933,1
61.40
MA
X H
EIG
HT
S I
NF
RA
ST
RU
CT
UR
E L
IMIT
ED
No
tes
form
ing
pa
rt o
f th
e C
on
soli
da
ted
fin
an
cia
l st
ate
me
nts
Net b
lock
No
te 1
1 :
Fix
ed
ass
ets
Tangib
le asse
ts
Gross
block
Accum
ulated
depre
ciatio
n and
impa
irmen
t
S.No.
80 ANNUAL REPORT 2014-2015
Note 12 : Long Term Loans and Advances
S.No. ParticularsAs at 31 March, 2015st As at 31 March, 2014st
A. Capital Advances - -
B. Security Deposit Unsecured Considered Goood 959,100.00 1,427,000.00
C. Other Loans & Advances 700,000.00 -
1,659,100.00 1,427,000.00
MAX HEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the Consolidated financial statements
Note 13 : Current investment
As at 31 March, 2015st
As at 31 March, 2014st
Non Trade, Unquoted and Fully Paid
(at lower of cost and fair value)
Invement in Mutual Funds
Axis Equity Fund 89,917.72 89,917.72
89,917.72 89,917.72
Particulars
81 ANNUAL REPORT 2014-2015
Note 14 : Inventories
(At lower of cost and net realisable value)
As at 31 March, 2015st
As at 31 March, 2014st
A. Raw materials - -
B. Work-in-progress 2,138,703,840.08 1,830,085,813.53
C. Finished Goods
- Real Estate 178,054,757.00 206,365,632.00
- Shares 763,218.94 763,218.94
Total 2,317,521,816.02 2,037,214,664.47
Note 15 : Trade receivables
As at 31 March, 2015st
As at 31 March, 2014st
Trade receivables outstanding for a period exceeding six months from
the date they were due for payment
Secured, considered good - -
Unsecured, considered good 1,126,620.00 1,309,156.00
Doubtful - -
1,126,620.00 1,309,156.00
Less: Provision for doubtful trade receivables - -
1,126,620.00 1,309,156.00
Other Trade receivables
Secured, considered good - -
Unsecured, considered good - -
Doubtful - -
- -
Less: Provision for doubtful trade receivables -
- -
Total 1,126,620.00 1,309,156.00
MAX HEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the Consolidated financial statements
Particulars
Particulars
S.No.
82 ANNUAL REPORT 2014-2015
Note 16 : Cash and cash equivalents
As at 31 March, 2015st
As at 31 March, 2014st
A Cash in hand 2,864,435.03 1,148,554.03
B Cheques, drafts on hand - -
C Balances with banks
(i) In current accounts 109,716,084.52 11,575,647.45
(ii) In deposit accounts 27,617,601.00 8,291,250.00
Total 140,198,120.55 21,015,451.48
MAX HEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the Consolidated financial statements
ParticularsS. NO.
83 ANNUAL REPORT 2014-2015
Note 17 : Short-term loans and advances
As at 31 March, 2015 As at 31 March, 2014
A. Loans and Advances to Customers
Secured Considered Good - -
Unsecured, considered good 62,391,450.00 23,985,471.00
Doubtful - -
62,391,450.00 23,985,471.00
B. Loans and advances to employees
Secured, considered good - -
Unsecured, considered good 80,539.00 61,295.00
Doubtful - -
80,539.00 61,295.00
C. Prepaid expenses - Unsecured, considered good 97,935.00 21,259.00
97,935.00 21,259.00
D. Balances with government authorities
Unsecured, considered good
(i) FBT Refundable 37,878.00 37,878.00
(ii) Income Tax Refund Refundable 1,253,872.00 1,180,335.00
(iii) Advance Income Tax 922,000.00 927,000.00
(iv) Vat Credit Receivable 15,904,637.38 12,692,895.83
(v) Service Tax Credit 8,207,430.14 6,081,174.00
(vi) Tax Deducted at Source 1,721,092.00 917,571.00
(vii)Tax Collected at source 825.00 59,752.00
(viii) Vat Deposited 636,567.00 -
28,684,301.52 21,896,605.83
E. Advances to Suppliers[ Recoverable in cash or in kind for
value to be received]
Secured, considered good - -
Unsecured, considered good 49,246,376.29 39,356,243.99
Doubtful - -
49,246,376.29 39,356,243.99
F. Others
(i) Deposits (Booking of Plot & Flat) - 9,462,655.00
(ii) Others 231,030,028.00 28,000,000.00
231,030,028.00 37,462,655.00
Total 371,530,629.81 122,783,529.82
Note 18 : Other Current Assets
As at 31 March, 2015 As at 31 March, 2014
Interest accrued on Deposits with Bank 3,039,307.00 1,480,629.00
Total 3,039,307.00 1,480,629.00
Particulars
Particulars
84 ANNUAL REPORT 2014-2015
MAX HEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the Consolidated financial statements
Note 19 : Revenue from operations
As at 31 March, 2015 As at 31 March, 2014
(a) Sale of products (Refer Note (i) below) 36,750,000.00 24,546,890.00
(b) Other operating revenues (Refer Note (ii) below) 9,429,834.00 10,911,260.87
46,179,834.00 35,458,150.87
Less:
(c) Excise duty - -
Total 46,179,834.00 35,458,150.87
Note (i) & (ii)
As at 31 March, 2015 As at 31 March, 2014
(i) Sale of products comprises :
Real Estate 36,750,000.00 15,200,000.00
Sale of shares - 9,346,890.00
Total - Sale 36,750,000.00 24,546,890.00
(ii) Other operating revenues comprise:
(i) Interest income comprises:
(a) Interest from banks on:
deposits 40,981.00 92,054.00
other balances - -
(b) Interest on loans and advances 4,915,652.00 3,862,539.00
( c) Profit on sale of Commodities - 4,039,467.87
Consultancy Income 2,000,000.00
(d) Commission Income 2,473,201.00 2,916,948.00
(e) Income from sale of booking 252.00
Total - Interest income 9,429,834.00 10,911,260.87
Others - -
Total - Other operating revenues 9,429,834.00 10,911,260.87
Note 20 : Other income
Particulars As at 31 March, 2015 As at 31 March, 2014
A Net gain on foreign currency transactions and translation (other than
considered as finance cost)
- -
B Other non-operating income - 15,570.19
C Interest Income:
From Banks 1,980,214.00 1,174,105.00
From Others 1,483,663.00 407,071.00
D Profit on sale of vehicle 102,327.00 19,054.00
E Misc Income 91,475.02 62,360.00
Total 3,657,679.02 1,678,160.19
Particulars
Particulars
85 ANNUAL REPORT 2014-2015
MAX HEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the Consolidated financial statements
Note 21 : Changes in inventories of finished goods, work-in-progress and stock-in-trade
As at 31 March, 2015 As at 31 March, 2014
Inventories at the end of the year:
Finished goods( trading goods)
Real Estate 178,054,757.00 206,365,632.00
Shares 763,218.94 763,218.94
Work-in-progress 2,138,703,840.08 1,830,085,813.53
2,317,521,816.02 2,037,214,664.47
Inventories at the beginning of the year:
Finished goods( trading goods)
Real Estate 206,365,632.00 68,695,282.00
Shares 763,218.94 763,218.94
Work-in-progress
2,037,214,664.47 1,073,553,069.87
Net increase / (decrease) (280,307,151.55) (963,661,594.60)
Particulars
Note 22 : Employee benefits expenses
As at 31 March, 2015 As at 31 March, 2014
(i) Salaries and wages 3,263,668.00 3,077,700.00
(ii) Director's Remuneration 840,000.00 622,000.00
(iii) Staff welfare expenses - 60,633.00
Total 4,103,668.00 3,760,333.00
Note 23 : Finance costs
As at 31 March, 2015 As at 31 March, 2014
A. Interest expense on:
(i) Borrowings 2,964,433.00 620,520.00
(ii) Others
Interest on Service Tax 11,394.00 9,635.00
Interest on TDS 24,483.00 819.00
Interest On IT 3,566.00 -
Interest On Car Loan 25,078.20 92,381.40
Interest Paid - 2,794,050.00
B. Other borrowing costs
Interest on Over draft - 22,622.00
Bank Charges 756,063.36 17,302.07
Total 3,785,017.56 3,557,329.47
Particulars
Particulars
86 ANNUAL REPORT 2014-2015
MAX HEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the Consolidated financial statements
1,830,085,813.53 1,004,094,568.93
Note 24 : Other expenses
As at 31 March 2015 As at 31 March 2014
Advertisement 209,967.00 85,263.00
Annual Fees (CDSL & NSDL) 106,724.00 79,776.00
Annual maintenance expenses 23,667.00 20,666.00
Books & Periodicals 24,250.00 2,936.00
Business Promotion 84,775.00 25,494.00
BROKERAGE - 31,186.20
Conveyance Expenses 52,405.00 -
Computer Maintenance Charges 47,800.00 68,968.00
DSC CHARGES 5,300.00 766.85
Electricity, GAS And Water Expenses 376,504.00 249,761.00
Fees & Subscription - 8,000.00
Filing Fees 262,500.00 188,221.00
General Expenses 113,866.00 40,461.00
Income Tax (APPEAL) - 5,930.00
Insurance on Vehicle 29,709.00 222,286.00
Listing fees - 44,944.00
Office & Administration Charges 32,332.00 62,549.00
Printing And Stationery 40,198.00 33,348.00
Postage and Courier 936.00 1,039.00
Preliminery Exp W\off 340,384.00 116,346.40
Payment to Auditors 310,000.00 280,000.00
Penalty 2,400.00 400.00
Professional Charges 955,658.00 912,762.00
Processing Charges 6,309.00 -
Repair & Maintenance - 20,700.00
Rent 480,000.00 360,000.00
Royalty 500.00 -
STT Paid 51,912.00 22,484.72
Service Tax on Shares - 4,070.16
Short & excess 0.27 -
Telephone Charges 44,404.00 57,157.00
Testing Expenses 2,247.00 -
Tour & Travel Expenses - 2,750.00
Vehicle Running and Maintenance 149,310.00 139,154.00
Total 3,754,057.27 3,087,419.33
As at 31 March 2015 As at 31 March 2014
Payments to the auditors comprises
As auditors - statutory audit 3,10,000.00 210,000.00
For taxation matters - 70,000.00
For company law matters - -
Total 3,10,000.00 280,000.00
Particulars
Particulars
87 ANNUAL REPORT 2014-2015
MAX HEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the Consolidated financial statements
Note 25 : EARNING PER SHARE
For the year ended March 31,
2015
For the year ended
March 31, 2014
Net Profit Available for Shareholders 4,955,216.29 4,095,543.26
No. of Equity Shares 14,136,675 14,136,675
EPS 0.35 0.29
MAX HEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the Consolidated financial statements
Particulars
88 ANNUAL REPORT 2014-2015
26. Notes to Account
I. BACKGROUND AND NATURE OF OPERATIONS:
II. AMALGAMATION
III. CURRENT ASSETS
MAX HEIGHTS INFRASTRUCTURE LIMITED
MAX HEIGHTS TOWNSHIP AND PROJECTS PRIVATE LIMITED
ICON REALCON PRIVATE LIMITED
MAX HEIGHTS DEVELOPERS PRIVATE LIMITED
MAX HEIGHTS PROMOTERS PRIVATE LIMITED
is a Delhi Based professionally managed company incorporated
on 28.07.1981 a growing real estate company having its registered office at SD-65, Tower Apartments,
Pitampura, New Delhi-110034 is under the management control of the promoters having rich experience
in Real Estate Sector. The company is listed in Bombay Stock Exchange.
The company is carrying on the business as owners, builders, colonizers, developers, promoters of
residential, commercial and industrial buildings, mall and multiplexes, township projects and factory
shed's and buildings and to deal in all kinds of immovable properties whether belonging to the Company or
not. The promoters have proudly completed and delivered a number of projects in recent past and looking
forward to many more projects.
was incorporated on 13th June, 2006.
The Company's registered office is at SD-65, Tower Apartments, Pitampura, New Delhi-110034. The
company is not listed on any Stock Exchange. It is the Subsidiary of Max Heights Infrastructure Limited.
Presently the company is developing a group housing complex in Sonepat, Haryana.
was incorporated on 28th December, 2007. The Company's registerd
office is at SD-65, Tower Apartments, Pitampura, New Delhi. Also the company is Subsidiary of Max
Heights Infrastructure Limited. The Company is not listed on any Stock Exchange. Presently the company
is developing a group housing complex in Fardiabad, Haryana.
was incorporated on 16th April, 2007. The Company's
registered office at 124 N. N. Mall, Mangalam Place, Sector-3, Rohini, Delhi-110085. The Company is
engaged in Property Development and are also the Estate Agents. The company is the Associate of Max
Heights Infrastructure Limited. The Company is not listed on any Stock Exchange.
was incorporated on 8th February, 2013. The Company's
registered office is at 409-411 4th Floor N N Mall Rohini, Delhi - 110085. The company is the Subsidiary of
Max Heights Infrastructure Limited. The Company is not listed on any Stock Exchange. The Company is
going to acquire the land for group housing compex at Sonepat Haryana.
The Scheme of amalgamation was filed under section 391 read with section 394 of the Companies
Act'1956 w.e.f. 01.04.2007 for amalgamation of the following transferor companies namely:-
a) INDOVEST FINANCIAL SERVICES LIMITED (IFSL)( Which is into the business of finance and real estate.
b) NORTH DELHI CONSTRUCTION AND INVESTMENT PVT. LTD. (NDCIPL) (Which is in to the business of Real
Estate activities.
c) SHYAM MOTELS PRIVATE LIMITED (SMPL) (Which is in to the business of entertainment activities.)
With the transferee Company i.e. M/s MAX HEIGHTS INFRASTRUCTURE LIMITED (MHIL)
The same has been approved by the H'ble Delhi High Court vide order no 2246 dated 17th March '2009.
The Scheme of amalgamation where under the transferor Companies are to be amalgamated in its present
form or with any modification(s) approved or imposed or directed by members of the respective
companies and/or by competent authority and / or by the court.
In the opinion of the management, current assets, loans & advances have the value on the realization in
the ordinary course of business equal to the amount at which they are stated and all known liabilities have
been adequately provided for.
89 ANNUAL REPORT 2014-2015
MAX HEIGHTS INFRASTRUCTURE LIMITED
Notes forming part of the Consolidated financial statements
Particulars For the year ended
March 31, 2015
For the year ended
March 31, 2014
Expenditure
On account of:
Traveling NIL NIL
Interest NIL NIL
Total: - NIL NIL
Earnings
Sale NIL NIL
Total: - NIL NIL
Particulars For the year ended
March 31, 2015
For the year ended
March 31, 2014
Audit Fee 310000.00 210000.00
Other Services - 70000.00
Reimbursement of Expenses - -
Total: - 310000.00 280000.00
VI.AUDITORS' REMUNERATION@
Particulars For the year ended
March 31, 2015
For the year ended
March 31, 2014
Raw Materials NIL NIL
Consumables NIL NIL
Finished Goods NIL NIL
Capital Goods NIL NIL
Total: - NIL NIL
V.CIF VALUE OF IMPORTS
@Inclusive of service tax
VII. DETAILS OF DUES TO MICRO AND SMALL ENTERPRISES AS DEFINED UNDER THE MSMED ACT, 2006
VIII. DEBTORS & CREDITORS
IX. DIRECTORS' REMUNERATION
The information regarding applicability of MSMED Act, 2006 to the various suppliers/parties is not available with
the assessee, hence information as required vide Clause 22 of Chapter V of MSMED Act, 2006 is not been given.
Balances appearing as Debtors & Creditors are subject to confirmation.
Particulars For the year ended
March 31, 2015
For the year ended
March 31, 2014
Salary 8.40 Lacs 6.22 Lacs
PF Contribution Nil Nil
Leave Salary Nil Nil
Medical Expenses Nil Nil
Others Nil Nil
Total: - 8.40 Lacs 6.22 Lacs
90 ANNUAL REPORT 2014-2015
IV.EXPENDITURE/EARNINGS IN FOREIGN CURRENCY (ON ACCRUAL BASIS)
X. RELATED PARTY DISCLOSURES
Key Management Personnel
In accordance with the requirements of Accounting Standards (AS) -18 on Related Party Disclosures, the names of
the related parties where control exists and/or with whom transactions have taken place during the year and
description of relationships, as identified and certified by the management are:
S.C. Narang Chairman
Naveen Narang Managing Director
Mukul Dhamija Director
Dinesh Kumar Director
Rakesh Pahwa Director
Mansi Narang Director
Jaspreet Kaur Company Secretary
Note (a): The details of the related party transactions entered into by the Company during the year ended March
31, 2015.
( In Lacs)
Name of the Party Relationship between Parties Description Amount
Max Heights Promoters Private Limited Two of the Director are
common
Investment in Shares 25.00
Satish Chander Narang & Sons H.U.F. Director is Karta of H.U.F. Rent 4.80
Manan Narang Brother of Director Interest 1.38
Nidhi Narang Sister of Director Interest 0.05
Mansi Narang Wife of Director Salary
Interest
6.00
4.53
Naveen Narang Director Remuneration
Interest
8.40
5.68
New Dimension Edumark LLP Two Director are Partner Interest 0.77
Apex Safety Glass Pvt. Ltd. One of the Director is
common
Interest 5.07
Sumitra Narang Wife of Director Interest 1.08
Pitampura Leasing & Housing Finance Ltd. One of the Director is
common
Interest 0.63
Herika Narang Wife of Brother of Director Salary 6.00
91 ANNUAL REPORT 2014-2015
Note (b): The details of amounts due to or due from the related parties as of March 31, 2015
Name of the Party Relationship between
Parties
Nature of Balance Amount
ICON Realcon Private Limited Subsidiary Company Investment 74.00
Maxheights Developers Private Limited Associates Investment 25.00
Maxheights Promoters Private Limited Subsidiary Company Investment 130.00
Maxheights Township & Projects Private
limited
Subsidiary Company Investment 60.00
Mansi Narang Wife of Director Unsecured Loan 42.50
Naveen Narang Director Unsecured Loan 126.00
XI.Note 1 to 26 Forms the integral part of the balance sheet and profit and loss account.
In terms of our report attached
For Deepak Narang & Associates
Chartered Accountants
Firm Regd. No. 016594N
For and on behalf of the Board of Directors
Sd/-
Deepak Narang
Partner
Membership No.097348
Place: New Delhi
Date: 03/06/2015
Sd/-
Jaspreet Kaur
Company Secretary
M.No.A38684
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
92 ANNUAL REPORT 2014-2015
( In Lacs)
Sl. No. Particulars I II III
1 Serial No.
2 Name of the Subsidiary Max Heights Promoters
Private Limited
Max Heights
Township & Projects
Private Limited
Icon Realcon Private
Limited
3
Reporting period for the subsidiary
concerned, if different from the holding
company's reporting period
NA NA NA
4
Reporting currency and Exchange rate as on
the last date of the relevant Financial year in
the case of foreign subsidiaries.
NA NA NA
5 Share Capital 20000000.00 10936100.00 10000000.00
6 Reserves & surplus -697758.45 10378746.14 -86585.01
7 Total assets 262024669.55 1493083730.73 803475426.99
8 Total liabilities 242722428.00 1471768884.59 793562012.00
9 Investments 0.00 0.00 0.00
10 Turnover 945730.00 1663174.13 129540.89
11 Profit before taxation 92841.55 285411.13 4128.99
12 Profit for taxation 92841.55 285411.13 4128.99
13 Profit after taxation 64151.55 204005.13 1765.99
14 Proposed Dividend 0.00 0.00 0.00
15 % of Shareholding 65.00 54.86 74.00
Part "A": Subsidiaries
(Information in respect of each subsidiary to be presented with amounts in Rs. )
Form AOC - I
(Pursuant to first provision to sub - section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)
Statement containing salient features of the financial statement of subsidiaries/ associate companies/ joint ventures
93 ANNUAL REPORT 2014-2015
'Annecure-A'
S. No. Name of Associates/ Joint Ventures
1 Latest audited Balance Sheet Date
2Shares of Associate/ Joint Ventures held by
the company on the year end
No.
Amount of Investment in Associates / Joint
Venture
Extend of Holding %
4Reason why the associate/ joint venture is
not consolidated
5Networth attributable to Shareholding as per
latest audited Balance Sheet
6 Profit /Loss for the year
(i) Considered in Consolidation
(ii) Not Considered in Consolidation
2. Holding Company holds more that 20% of paidup share capital of the
company
Description of how there is significant
influence
3
Max Heights Developers Private Limited (Associate Company)
03/06/20015
Part "B": Associates and Joint Ventures
Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to Associate companies and joint ventures
250000
2500000.00
47.17
1. Two out of Three Directors of The Company are common
NA
24.75 per Equity Share of 10/- each
44926.00
21115.22
23810.78
In terms of our report attached
For Deepak Narang & Associates
Chartered Accountants
Firm Regd. No. 016594N
For and on behalf of the Board of Directors
Sd/-
Deepak Narang
Partner
Membership No.097348
Place: New Delhi
Date: 03/06/2015
Sd/-
Satish Chander Narang
Chairman
DIN: 00095693
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
Sd/-
Naveen Narang
Managing Director & CFO
DIN: 00095708
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
94 ANNUAL REPORT 2014-2015
Sd/-
Jaspreet Kaur
Company Secretary
M.No.A38684
Regd. Off.: SD-65 Tower Apartment
Pitampura, New Delhi-1100034
S. No. F. No. Name Category No. of shares Held % age of holding Details
1 10 Mukesh Kumar Individual 64363 1.65 Add: FU - 26, Pitampura, New Delhi - 110034
2 11 Pooja Bhatia Individual 58435 1.50Add: HU-12, IInd Floor, Pitampura, New
Delhi - 110034
3 14 Rashmi Khatri Individual 24438 0.63Add: FU - 26, Pitampura, New Delhi -
110034
4 15 Adonis Infosoft Private Limited Unlisted-Body Corporate 101500 2.60Merged into Sonal Mercantile Limited (a
Listed Company)
5 16 Ambey Suppliers Private Limited Unlisted-Body Corporate 182125 4.67 Annexure I
6 18 Briston Infotech Private Limited Unlisted-Body Corporate 124000 3.18 Annexure II
7 19 Gaurav Bhatia Individual 16775 0.43Add: HU-12, IInd Floor, Pitampura, New
Delhi - 110034
8 20 Komal Malhotra Individual 11750 0.30Add: FU - 26, Pitampura, New Delhi -
110034
9 21 Myra Apparels Private Limited Unlisted-Body Corporate 20000 0.51 Annexure III
10 22 Neelam Bhatia Individual 2000 0.05Add: HU-12, IInd Floor, Pitampura, New
Delhi - 110034
11 23 Om Prakash Individual 103890 2.67Add: FU - 26, Pitampura, New Delhi -
110034
12 24 P Seven General Finance Private Limited Unlisted-Body Corporate 186500 4.78 Annexure IV
13 25 Pushpa Wanti Individual 14000 0.36Add: 13, Avtar Enclave, Paschim Vihar, New
Delhi-110063
14 26 Raj Kanta Individual 5250 0.13 Add: FU - 26, Pitampura, New Delhi - 110088
15 29 J.K. L’atelier Limited Listed-Body Corporate 360700 9.25 Listed Company
16 30 Rising Portfolio India Private Limited Unlisted-Body Corporate 50000 1.28 Annexure V
17 31 Omexpo Enterprises Private Limited Unlisted-Body Corporate 25000 0.64 Annexure VI
18 32 New Millennium Consultants Private Limited Unlisted-Body Corporate 50000 1.28 Annexure VII
19 33 Advik Industries Limited Listed-Body Corporate 60000 1.54 Listed Company
20 34 Sumit Khanna Individual 11000 0.28Add: GH-13, Paschim Vihar, New Delhi -
110059
21 35 Shweta Pathak Individual 7000 0.18 Add: NP-91, Pitampura, New Delhi - 110034
22 36 Ajay Pathak Individual 15000 0.38 Add: NP-91, Pitampura, New Delhi - 110034
23 37 Ramashrey Pandey Individual 7500 0.19Add: A-297, Shahabad Dairy, Badli, Delhi -
110042
24 38 Amit Arora Individual 750 0.02Add: 215, Tarun Enclave, Pitampura, New
Delhi-110034
25 39 Gaurav Mutreja Individual 12000 0.31Add: U & V – 6A, Shalimar Bagh, Block – B,
New Delhi - 110088
26 40 Geet Infracon Private Limited Unlisted-Body Corporate 24750 0.63 Annexure VIII
27 41 Noor Hasan Individual 7500 0.19Add: 686, H-Block, Shakur Pur, JJ Colony,
Delhi - 110034
28 42 Paarth Consultants Private Limited Unlisted-Body Corporate 2500 0.06 Annexure IX
29 43 Vijay Kumar Individual 7525 0.19Add: 9/3, Block – C, Hardev Nagar, Jharoda,
Mazra, Burari, Delhi - 110084
List of Shareholders of Ranjitgarh Finance Company Private Limited
95 ANNUAL REPORT 2014-2015
'Annexure-AA'
S. No. F. No. Name Category No. of shares Held % age of holding Details
List of Shareholders of Ranjitgarh Finance Company Private Limited
30 44 Achyut Properties Private Limited Unlisted-Body Corporate 10000 0.26 Annexure X
31 45 Chander Bhan Individual 12500 0.32Add: U & V – 6A, Shalimar Bagh, Block – B,
New Delhi - 110088
32 46 Gaurav Sukhija Individual 13813 0.35 Add: FU - 26, Pitampura, New Delhi - 110034
33 47 Geeta Individual 9375 0.24Add: U & V – 6A, Shalimar Bagh, Block – B,
New Delhi - 110088
34 48 Maa Sharda Distributors Private Limited Unlisted-Body Corporate 31250 0.80 Annexure XI
35 49 Manju Bala Individual 112500 2.89 Add: Opp. Shiv Mandir, Sivaji Colony, Rohtak
36 50 Neelam Rani Individual 8750 0.22Add: U & V – 6A, Shalimar Bagh, Block – B,
New Delhi - 110088
37 51 P.L. Finlease Private Limited Unlisted-Body Corporate 34500 0.89 Annexure XII
38 52 Radhey Shayam Individual 10012 0.26Add: A-297, Shahabad Dairy, Badli, Delhi -
110042
39 53 Ravi Pandey Individual 7500 0.19Add: A-297, Shahabad Dairy, Badli, Delhi -
110042
40 54 Ritu Bajaj Individual 1375 0.04Add: Flat No.12, 2nd Floor, Pocket - II, Sector
- 5, Rohini, Delhi - 110085
41 55 River Infracon Private Limited Unlisted-Body Corporate 10500 0.27 Annexure XIII
42 56 Sapna Pandey Individual 12000 0.31Add: A-297, Shahabad Dairy, Badli, Delhi -
110042
43 57Ranjitgarh Finance Company Private Limited -
Shares Benefit TrustTrust 1624582 41.68 Add: LP-11C, Pitampura, New Delhi-110034
44 58 Shilpa Bhatia Individual 10500 0.27 Add: 4/42, Roop Nagar, Delhi - 110006
45 59 Toor Finance Company Limited Unlisted-Body Corporate 232250 5.96 Annexure XIV
46 60 Vandana Individual 9375 0.24Add: U & V – 6A, Shalimar Bagh, Block – B,
New Delhi - 110088
47 61 Vemuri Finvest Private Limited Unlisted-Body Corporate 190625 4.89 Annexure XV
3897658 100.00
96 ANNUAL REPORT 2014-2015
Annexure I
Details of shareholders of Ambey Suppliers Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held
1 Kavita Tour & Travels Private Limited 1678000 50
2 Axis Music Source Private Limited 1678000 50
Details of shareholders of Kavita Tour & Travels Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held
1
Meghraj Singh Shekhawat
Add: 28, Hanuman Nagar, Gautam Marg, Vaishali
Nagar, Jaipur
6000 60
2
Saroj Kanwar
Add: 28, Hanuman Nagar, Gautam Marg, Vaishali
Nagar, Jaipur
4000 40
Details of shareholders of Axis Music Source Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held
1
Divya Rathore
Add: 338, Shekhawat Mansingh Road, Nemi Sagar
Colony, Jaipur
9999 99.99
2
Gajraj Singh Solanki
Add: Plot No. 13, Shiv Nagar, Ajmer Road, Jaipur,
Rajasthan
1 0.01
Annexure II
Details of shareholders of Briston Infotech Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held
1 Mastro Consultancy Private Limited 1127900 50
2 Collegare Trading Private Limited 1127900 50
Details of shareholders of Mastro Consultancy Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held
1
Rakesh Garg
Add: H.No. 1322/15, Sector - 12, Huda, Panipat -
132103, Haryana
2500 25
2
Komal Garg
Add: H.No. 1322, Sector - 12, Huda, Panipat -
132103, Haryana
2500 25
3
Suresh Kumar Garg
Add: H.No. 1322, Sector - 12, Huda, Panipat -
132103, Haryana
5000 50
Details of shareholders of Collegare Trading Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held
1
Suresh Kumar Garg
Add: H.No. 1322, Sector - 12, Huda, Panipat -
132103, Haryana
5000 50
2
Komal Garg
Add: H.No. 1322, Sector - 12, Huda, Panipat -
132103, Haryana
2500 25
3
Rakesh Garg
Add: H.No. 1322/15, Sector - 12, Huda, Panipat -
132103, Haryana
2500 25
97 ANNUAL REPORT 2014-2015
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldRemark
1 Mangalam Viniyog Pvt. Ltd. 26350 16.56 holds maximum shares of the Company
Details of shareholders of Mangalam Viniyog Pvt. Ltd.
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldAnnexure
1
Balkrishna Singhania
S/o Radha Krishna Singhania
Add: 129/7, M.G. Road, Kolkata, West
Bengal-700007
400 0.03 -
2
Pravin Kumar Agarwal
S/o Jagadish Prasad Agarwal
Add: Khorddabahera Purba, Adarshnagar,
Kanipur, Uttarpara, Hooghly, West Bengal -
712246
400 0.03 -
3 K.S. Clothing Private Limited 688000 49.97 Annexure III A
4 S.S. Apparels Private Limited 688000 49.97 Annexure III B
Annexure III
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Myra Apparels
Private Limited
Annexure III A
Details of shareholders of K.S. Clothing Private Limited
Sr. No. Name of ShareholderNo. of shares
held
% of shares
held
1
Sima Singh
Add: Khorddabahera Purba, Adarshnagar,
Kanipur, Uttarpara, Hooghly, West Bengal -
712246
5000 29.41
2
Mukesh Kumar Agarwal
Add: P-169, Lake Town, B Lake Town,
Kolkata, West Bengal - 700089
5000 29.41
3 Jasmine Merchants Private Limited 7000 41.18
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldRemark
1 Marina Commodeal Private Limited 65000 14.41 holds maximum shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Jasmine Merchants Private Limited
Details of shareholders of Marina Commodeal Private Limited
Sr. No. Name of ShareholderNo. of shares
held
% of shares
held
1
Sumedh Khemka
S/o Nirmal Khemka
Add: P-338, Lake Town, Block-A, Kolkata,
West Bengal - 700089
10 0.01
2 Sapphire Agents Pvt. Ltd. 183795 99.98
3
Pesu Ram
S/o Loku Mal
Add: Lokumal Topandas Cold Storage,
Pakka Bagh, Etawah, UP
10 0.01
98 ANNUAL REPORT 2014-2015
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldRemark
1 Vikas Transport Service Private Limited 15000 37.50the only shareholder holding more than 25%
shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Sapphire Agents Pvt. Ltd.
Details of shareholders of Vikas Transport Service Private Limited
Sr. No. Name of ShareholderNo. of shares
held
% of shares
held
1 Ambition Tie-up Pvt. Ltd. 91970 99.97
2
Sagun Khemka
Add: P-338, Lake Town, Block-A, Kolkata,
West Bengal - 700089
30 0.03
Details of shareholders of Ambition Tie-up Pvt. Ltd.
Sr. No. Name of ShareholderNo. of shares
held
% of shares
held
1
Mohunta Ayodhya Singh
Add: 25B, Raja Raj Ballav Street, Kolkata,
West Bengal - 700003
76950 49.97
2
Mohunta Ayodhya Singh
Add: 3, Raja Debendra Narayan Debel,
Kolkata, West Bengal - 700005
76950 49.97
3
Sarman Sharma
Add: 28B, Kalicharan Ghosh Road, Kolkata,
West Bengal - 700050
100 0.06
Annexure III B
Details of shareholders of S.S. Apparels Private Limited
Sr. No. Name of ShareholderNo. of shares
held
% of shares
held
1
Sima Singh
Add: Khorddabahera Purba, Adarshnagar,
Kanipur, Uttarpara, Hooghly, West Bengal -
712246
5000 29.41
2
Rajit Srivastva
Add: Adarshnagar, Barabahera, Kanipur,
Uttarpara, Hooghly, West Bengal -712246
5000 29.41
3 FastFlow Financial Advisory Pvt. Ltd. 7000 41.18
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldRemark
1 Improve Distributors Pvt. Ltd. 61300 42.99the only shareholder holding more than 25%
shares of the Company
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldRemark Annexure
1 WellPlan Financial Management Pvt. Ltd. 74000 36.82 holds more than 25% shares of the Company Annexure III B (i)
2 Trimurti Financial Consultants Pvt. Ltd. 70000 34.83 holds more than 25% shares of the Company Annexure III B (ii)
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of FastFlow Financial Advisory Pvt. Ltd.
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Improve Distributors Pvt. Ltd.
99 ANNUAL REPORT 2014-2015
Annexure III B (i)
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldRemark
1 Rise High Tracom Pvt. Ltd. 33200 19.29 holds maximum shares of the Company
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldRemark
1 Axiom Commotrade Pvt. Ltd. 156495 49.84 holds more than 25% shares of the Company
2 Desire Commodeal Pvt. Ltd. 157500 50.16 holds more than 25% shares of the Company
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldRemark
1
Ranjit Srivastva
S/o Babulal Srivastva
Add: Adarshnagar, Barabahera, Kanipur,
Uttarpara, Hooghly, West Bengal -712246
5000 40 holds more than 25% shares of the Company
2
Surendra Sharma
S/o Ram Gopal Sharma
Add: 50A, Deoanji Street, 8, Rishra,
Hooghly, West Bengal - 712205
5000 40 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Rise High Tracom Pvt. Ltd.
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Axiom Commotrade Pvt. Ltd.
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of WellPlan Financial Management Pvt. Ltd.
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldRemark
1
Ranjit Srivastva
S/o Babulal Srivastva
Add: Adarshnagar, Barabahera, Kanipur,
Uttarpara, Hooghly, West Bengal -712246
5000 40 holds more than 25% shares of the Company
2
Surendra Sharma
S/o Ram Gopal Sharma
Add: 50A, Deoanji Street, 8, Rishra,
Hooghly, West Bengal - 712205
5000 40 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Desire Commodeal Pvt. Ltd.
Annexure III B (ii)
Details of shareholders of Trimurti Financial Consultants Pvt. Ltd.
Sr. No. Name of ShareholderNo. of shares
held
% of shares
held
1
Paresh Kumar Mahala
S/o. Dibankar Mahala
Add: 75, Charu Charan Singh Lane,Kolkata,
West Bengal - 711101
5000 50
2
Alak Panda
S/o Brundaban Panda
Add: 78, Charu Charan Singh Lane,
Howarah, West Bengal - 711101
5000 50
100 ANNUAL REPORT 2014-2015
Annexure IV
Details of shareholders of P Seven General Finance Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held
1 Ranjan Exim Pvt. Ltd. 874750 50
2 Savera Garments Pvt. Ltd. 874750 50
Details of shareholders of Ranjan Exim Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held
1
Manti Das
Add: Near AB Electricals, Bongaon,
Beltola College Road, Near Shiv
Mandir, 3rd Bye Lane, Guwahati,
Assam -781028
5000 50
2
Nreepen Das
Add: College Road, Bongaon, Beltola,
Guwahati, Assam-781028
5000 50
Details of shareholders of Savera Garments Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held
1
Manti Das
Add: Near AB Electricals, Bongaon,
Beltola College Road, Near Shiv
Mandir, 3rd Bye Lane, Guwahati,
Assam -781028
5000 50
2
Nreepen Das
College Road, Bongaon, Beltola,
Guwahati, Assam-781028
5000 50
101 ANNUAL REPORT 2014-2015
Annexure V
Sr. No. Name of ShareholderNo. of shares
held% of shares held Remark Annexure
1Mithilianchal Investment and Finance
Private Limited119000 38.64
holds more than 25% shares of
the CompanyAnnexure V A
2 Omexpo Enterprises Private Limited 105000 34.09holds more than 25% shares of
the CompanyAnnexure V B
Annexure V A
Sr. No.Details of the ultimate beneficial owner/
controller
No. of shares
held% of shares held
1
Balbir Kumar Singh
S/o Sukhbir Kumar Singh
Add: A-34, Jai Vihar, Phase - I, Najafgarh,
Delhi - 110043
5250 1.06
2
Gajender Singh
S/o Harwinder Singh
Add: 14A/33, Basement WEA Channa
Market, Karol Bagh, Delhi - 110005
4850 0.98
Annexure V B
Sr. No. Name of ShareholderNo. of shares
held% of shares held Remark Annexure
1 Allegiance Trading Pvt. Ltd. 99000 34.66holds more than 25% shares of
the CompanyAnnexure V B (i)
2Mithilianchal Investment and Finance
Private Limited120000 42.01
holds more than 25% shares of
the CompanyAnnexure V B (ii)
Annexure V B (i)
Details of shareholder holding maximum shares of Allegiance Trading Pvt. Ltd.
Sr. No. Name of ShareholderNo. of shares
held% of shares held
1Mithilianchal Investment and Finance
Private Limited66000 38.06
Sr. No.Details of the ultimate beneficial owner/
controller
No. of shares
held% of shares held
1
Balbir Kumar Singh
S/o Sukhbir Kumar Singh
Add: A-34, Jai Vihar, Phase - I, Najafgarh,
Delhi - 110043
5250 1.06
2
Gajender Singh
S/o Harwinder Singh
Add: 14A/33, Basement WEA Channa
Market, Karol Bagh, Delhi - 110005
4850 0.98
Sr. No.Details of the ultimate beneficial owner/
controller
No. of shares
held% of shares held
1
Balbir Kumar Singh
S/o Sukhbir Kumar Singh
Add: A-34, Jai Vihar, Phase - I, Najafgarh,
Delhi - 110043
5250 1.06
2
Gajender Singh
S/o Harwinder Singh
Add: 14A/33, Basement WEA Channa
Market, Karol Bagh, Delhi - 110005
4850 0.98
Details of the ultimate beneficial owner/ controller of Mithilianchal Investment and Finance Private Limited
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Rising Portfolio India Private Limited
Details of the ultimate beneficial owner/ controller of Mithilianchal Investment and Finance Private Limited
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Omexpo Enterprises Private Limited
Details of the ultimate beneficial owner/ controller of Mithilianchal Investment and Finance Private Limited
Annexure V B (ii)
102 ANNUAL REPORT 2014-2015
Annexure VI
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldRemark Annexure
1 Allegiance Trading Pvt. Ltd. 99000 34.66 holds more than 25% shares of the Company Annexure VI A
2Mithilianchal Investment and Finance Private
Limited120000 42.01 holds more than 25% shares of the Company Annexure VI B
Annexure VI A
Details of shareholder holding maximum shares of Allegiance Trading Pvt. Ltd.
Sr. No. Name of ShareholderNo. of shares
held
% of shares
held
1Mithilianchal Investment and Finance Private
Limited66000 38.06
Sr. No. Details of the ultimate beneficial owner/ controllerNo. of shares
held
% of shares
held
1
Balbir Kumar Singh
S/o Sukhbir Kumar Singh
Add: A-34, Jai Vihar, Phase - I, Najafgarh, Delhi -
110043
5250 1.06
2
Gajender Singh
S/o Harwinder Singh
Add: 14A/33, Basement WEA Channa Market, Karol
Bagh, Delhi - 110005
4850 0.98
Annexure VI B
Sr. No. Details of the ultimate beneficial owner/ controllerNo. of shares
held
% of shares
held
1
Balbir Kumar Singh
S/o Sukhbir Kumar Singh
Add: A-34, Jai Vihar, Phase - I, Najafgarh, Delhi -
110043
5250 1.06
2
Gajender Singh
S/o Harwinder Singh
Add: 14A/33, Basement WEA Channa Market, Karol
Bagh, Delhi - 110005
4850 0.98
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Omexpo Enterprises Private Limited
Details of the ultimate beneficial owner/ controller of Mithilianchal Investment and Finance Private Limited
Details of the ultimate beneficial owner/ controller of Mithilianchal Investment and Finance Private Limited
Annexure VII
Sr. No. Name of Shareholder No. of shares held% of shares
heldRemark Annexure
1 White Collar Management Services Pvt. Ltd. 426000 42.68holds more than 25% shares of
the CompanyAnnexure VII A
2 PHV Securities Pvt. Ltd. 326000 32.66holds more than 25% shares of
the CompanyAnnexure VII B
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of New Millennium Consultants Private Limited
103 ANNUAL REPORT 2014-2015
Annexure VII A (i)
Details of shareholder holding maximum shares of City Life Promoters Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held% of shares
held
1 Soffpro Technologies Pvt. Ltd. 870000 43.69
Details of the ultimate beneficial owner/ controller of Soffpro Technologies Pvt. Ltd.
Sr. No. Details of Shareholder No. of shares held% of shares
held
1Balbir Singh
Add: 38, Yashwat Place, New Delhi15000 0.53
2
Shree Ram Yadav
Add: A-34, Jai Vihar Najafgarh Road, New
Delhi - 110043
5150 0.18
3
Dinesh Kumar
Add: A-34, Jai Vihar, Phase - I, Najafgarh
Road, Near Solanki Public School, New Delhi -
110043
5000 0.18
Annexure VII A (ii)
Sr. No. Name of Shareholder No. of shares held% of shares
heldRemark
1 Soffpro Technologies Pvt. Ltd. 370000 36.18
the only shareholder holding
more than 25% shares of the
Company
Details of the ultimate beneficial owner/ controller of Soffpro Technologies Pvt. Ltd.
Sr. No. Details of Shareholder No. of shares held% of shares
held
1Balbir Singh
Add: 38, Yashwat Place, New Delhi15000 0.53
2
Shree Ram Yadav
Add: A-34, Jai Vihar Najafgarh Road, New
Delhi - 110043
5150 0.18
3Dinesh Kumar
Add: A-34, Jai Vihar, Phase - I, Najafgarh
Road, Near Solanki Public School, New Delhi -
110043
5000 0.18
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of PHV Securities Pvt. Ltd.
Annexure VII A
Sr. No. Name of Shareholder No. of shares held% of shares
heldRemark Annexure
1 City Life Promoters Pvt. Ltd. 720000 36.96holds more than 25% shares of
the CompanyAnnexure VII A (i)
2 PHV Securities Pvt. Ltd. 810000 41.58holds more than 25% shares of
the CompanyAnnexure VII A (ii)
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of White Collar Management Services Pvt. Ltd.
104 ANNUAL REPORT 2014-2015
Annexure VII B
Sr. No. Name of Shareholder No. of shares held% of shares
heldRemark
1 Soffpro Technologies Pvt. Ltd. 370000 36.18
the only shareholder holding
more than 25% shares of the
Company
Details of the ultimate beneficial owner/ controller of Soffpro Technologies Pvt. Ltd.
Sr. No. Details of Shareholder No. of shares held% of shares
held
1Balbir Singh
Add: 38, Yashwat Place, New Delhi15000 0.53
2
Shree Ram Yadav
Add: A-34, Jai Vihar Najafgarh Road, New
Delhi - 110043
5150 0.18
3Dinesh Kumar
Add: A-34, Jai Vihar, Phase - I, Najafgarh
Road, Near Solanki Public School, New Delhi -
110043
5000 0.18
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of PHV Securities Pvt. Ltd.
105 ANNUAL REPORT 2014-2015
Annexure VIII
Sr.
No.Name of Shareholder
No. of
shares held
% of shares
heldRemark
1 Toor Finance Co. Ltd 23250 17.24holds maximum shares of the
Company
Sr.
No.Name of Shareholder
No. of
shares held
% of shares
heldRemark Annexure
1 Shajha Automations Pvt. Ltd. 928550 49.42holds more than 25% shares of
the CompanyAnnexure VIII A
2Shri Mahaluxmi Aerated Aqua
Pvt. Ltd.929860 49.49
holds more than 25% shares of
the CompanyAnnexure VIII B
Annexure VIII ADetails of shareholders of Shajha Automations Pvt. Ltd.
Sr.
No.Name of Shareholder
No. of
shares held
% of shares
held
1
Purushotam Agrawal
Add: 147, Bavari Ki Dhani,
Khandela Tehsil, Shrimadhopur,
Sikar - 332001, Rajasthan
6600 66
2
Shyam Lal Agrawal
Add: 147, Bavari Ki Dhani,
Khandela Tehsil, Shrimadhopur,
Sikar - 332001, Rajasthan
3400 34
Annexure VIII B
Details of shareholders of Shri Mahaluxmi Aerated Aqua Pvt. Ltd.
Sr.
No.Name of Shareholder
No. of
shares held
% of shares
held
1
Vinit Kumar Bansal
Add: 1/9553, Gali N0-3, Pratap
pura, West Rohtash Nagar,
Shahdara, New Delhi - 110032
6000 60
2
Varsha Bansal
Add: D-10/3, Model Town, New
Delhi - 110009
4000 40
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Geet Infracon
Private Limited
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Toor Finance Co.
Ltd
106 ANNUAL REPORT 2014-2015
Annexure IX
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldRemark
1
Prem Kumar
Prop. of Vinayak Enterprises
Add: 2/4/7, M.S. Flats (S.Q.), Sector 13,
R.K. Puram, New Delhi - 110066
20000 35.09
the only shareholder
holding more than 25%
shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Paarth
Consultants Private Limited
Annexure X
Sr.
No.Name of Shareholder
No. of shares
held% of shares held Remark
1J.K. L’atelier Limited
(Listed Company)10000 50
the only shareholder holding more than 25%
shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Achyut
Properties Private Limited
Annexure XI
Sr. No. Name of ShareholderNo. of shares
held% of shares held Remark
1 Vrindavan Infra Developers Pvt. Ltd. 600000 22.82 holds maximum shares of the Company
Sr. No. Name of ShareholderNo. of shares
held% of shares held Remark
1 Trimurti Vinimay Pvt. Ltd. 55500 8.97 holds maximum shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Maa Sharda Distributors Private
Limited
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Vrindavan Infra Developers (P) Ltd
107 ANNUAL REPORT 2014-2015
Sr. No. Name of ShareholderNo. of shares
held% of shares held Remark
1 Shagun Consumer Goods (P) Ltd. 144250 49.02the only shareholder holding more than 25% shares of
the Company
Details of shareholders of Shagun Consumer Goods (P) Ltd.
Sr. No. Name of ShareholderNo. of shares
held% of shares held Remark
1
Indar Dugar
S/o Jagdish Prasad Dugar
Add: 15A, Ramesh Mitra Road,
Bhowanipore, Kolkata, West Bengal -
700025
45000 45.80the only shareholder holding more than 25% shares of
the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Trimurti Vinimay Pvt. Ltd.
Annexure XII
Sr. No. Name of ShareholderNo. of shares
held% of shares held Remark Annexure
1 Mahabali Horticulture Private Limited 577225 49.52holds more than 25% shares of
the CompanyAnnexure XII A
2 Mahadev Realtech Private Limited 578450 49.62holds more than 25% shares of
the CompanyAnnexure XII B
Annexure XII A
Sr. No. Name of ShareholderNo. of shares
held% of shares held Remark
1
Jag Mohan Soni
Add: 1/2182, Mandoli Road, Shahadara,
Delhi - 110032
14000 40.00shareholder holding more than
25% shares of the Company
2
Uttam Chand Verma
Add: 1/3314, 2nd Floor, Ram Nagar,
Shahadara, Delhi - 110032
11000 31.43shareholder holding more than
25% shares of the Company
3Mool Chand Verma
Add: 201/1, Ashok Vihar, Delhi - 11005210000 28.57
shareholder holding more than
25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of P.L. Finlease Private Limited
Details of shareholders of Mahabali Horticulture Private Limited
108 ANNUAL REPORT 2014-2015
Annexure XII B
Sr. No. Name of ShareholderNo. of shares
held% of shares held Remark
1
Prahlad Gupta
Add: 1/2074, 2nd Floor, Gali No.8, Durga
Mandir, Shahadara, Delhi - 110032
12300 14.47holds maximum shares of the
Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Mahadev Realtech Private Limited
Annexure XIII
Sr. No. Name of Shareholder No. of shares held % of shares held
1Mukesh Kumar
Add: Fu 26, Pitampura, New Delhi - 1100345000 2.02
2Pooja Bhatia
HU 12, Pitampura, New Delhi -1100345000 2.02
Details of the ultimate beneficial owner/ controller of River Infracon Private Limited
Annexure XIV
Sr.
No.Name of Shareholder
No. of shares
held% of shares held Remark Annexure
1 Shajha Automations Pvt. Ltd. 928550 49.42holds more than 25% shares of
the CompanyAnnexure XIV A
2 Shri Mahaluxmi Aerated Aqua Pvt. Ltd. 929860 49.49holds more than 25% shares of
the CompanyAnnexure XIV B
Annexure XIV A
Details of shareholders of Shajha Automations Pvt. Ltd.
Sr.
No.Name of Shareholder
No. of shares
held% of shares held
1
Purushotam Agrawal
Add: 147, Bavari Ki Dhani, Khandela
Tehsil, Shrimadhopur, Sikar - 332001,
Rajasthan
6600 66
2
Shyam Lal Agrawal
Add: 147, Bavari Ki Dhani, Khandela
Tehsil, Shrimadhopur, Sikar - 332001,
Rajasthan
3400 34
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Toor Finance Co. Ltd
109 ANNUAL REPORT 2014-2015
Annexure XIV B
Details of shareholders of Shri Mahaluxmi Aerated Aqua Pvt. Ltd.
Sr.
No.Name of Shareholder
No. of shares
held% of shares held
1
Vinit Kumar Bansal
Add: 1/9553, Gali N0-3, Pratap pura,
West Rohtash Nagar, Shahdara, New
Delhi - 110032
6000 60
2
Varsha Bansal
Add: D-10/3, Model Town, New Delhi -
110009
4000 40
Annexure XV
Details of shareholders of Vemuri Finvest Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held
1 K.P.Designs Pvt. Ltd. 805598 50.00
2Wateen Mobile Infrastructure Pvt.
Ltd.805597 50.00
Details of shareholders of K.P.Designs Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held
1
Sanjaykumar Agarwal
Add: 7/1A, Grant Lane, 2nd Floor,
Kolkata - 700012
5000 50
2
Bal Krishna Singhania
Add: 129/7, M.G. Road, Kolkata -
70007
5000 50
Details of shareholders of Wateen Mobile Infrastructure Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held
1
Purushotam Agrawal
Add: 147, Barari Ki Dhani, Khandela,
Tehsil Shrimadhopur Sikar, Rajasthan
- 332001
5000 50
2
Shyam Lal Agrawal
Add: 147, Barari Ki Dhani, Khandela,
Tehsil Shrimadhopur Sikar, Rajasthan
- 332001
5000 50
110 ANNUAL REPORT 2014-2015
S.
NO.NAME CATEGORY NO. OF SHARES % OF SHARES DETAILS
1 GURMEET SINGH INDIVIDUAL 20000 0.41ADD: OPP COLD STORE, CHARIK RD, MOGA-
142001, PUNJAB
2 KULWANT SINGH INDIVIDUAL 32000 0.65ADD: 325, MOH. KHAIRIAN DA, PURANA
MOGA, PUNJAB
3 AMAR SINGH INDIVIDUAL 59700 1.21ADD: VPO SALINA, DISTT. MOGA, PUNJAB-
142001
4 RAGHUBIR SINGH INDIVIDUAL 4000 0.08ADD: VPO BUKANWALA, DISTT. MOGA,
PUNJAB-142001
5 HARDIAL SINGH & SURJIT KAUR INDIVIDUAL 5000 0.10ADD: AGWAR HAKAM KA, PURANA MOGA,
PUNJAB
6 PARAMJIT KAUR INDIVIDUAL 14000 0.28ADD: VPO SALINA, DISTT. MOGA, PUNJAB-
142001
7 NIRANJAN SINGH INDIVIDUAL 2500 0.05ADD: PARASRAM NAGAR, GURUKUL ROAD,
BHATINDA, PUNJAB
8 JASPAL KAUR INDIVIDUAL 2500 0.05ADD: PARASRAM NAGAR, GURUKUL ROAD,
BHATINDA, PUNJAB
9 JAGDEV SINGH INDIVIDUAL 3200 0.06ADD: 325, MOH. KHAIRIAN DA, PURANA
MOGA, PUNJAB
10 PARAMJIT KAUR INDIVIDUAL 36000 0.73ADD: 325, MOH. KHAIRIAN DA, PURANA
MOGA, PUNJAB
11 SUKHDEV SINGH INDIVIDUAL 134080 2.72 ADD: NEW SODHI NAGAR, MOGA, PUNJAB
12 NIRMAL SINGH INDIVIDUAL 2500 0.05ADD: PATTI MOHABAT KI, PURANA MOGA,
PUNJAB
13 BALJIT KAUR INDIVIDUAL 2500 0.05ADD: PATTI MOHABAT KI, PURANA MOGA,
PUNJAB
14 KARTAR SINGH INDIVIDUAL 2000 0.04ADD: PATTI MOHABAT KI, PURANA MOGA,
PUNJAB
15 NACHHATAR SINGH INDIVIDUAL 25000 0.51ADD: OPP COLD STORE, CHARIK RD, MOGA-
142001, PUNJAB
16 GURDEV KAUR INDIVIDUAL 38000 0.77ADD: MOH. LAHORIAN DA, PURANA MOGA,
PUNJAB
17 KARNAIL SINGH & BHAGWAN KAUR INDIVIDUAL 3000 0.06ADD: VPO FEROZE SHAH, DISTT.
FEROZEPUR
18 KAMAL SHARMA INDIVIDUAL 2500 0.05ADD: 374, SECTOR-15, PANCHKULA,
HARYANA
19 MAHESH SHARMA INDIVIDUAL 2500 0.05ADD: 374, SECTOR-15, PANCHKULA,
HARYANA
20 SUKHDEV SINGH INDIVIDUAL 62500 1.27ADD: VPO MUKANDWAL, DISTT. FARIDKOT,
PUNJAB
21 SUKHDEV KAUR INDIVIDUAL 12350 0.25ADD: VPO FEROZE SHAH, DISTT.
FEROZEPUR
22 SHARANJIT SINGH INDIVIDUAL 62300 1.26ADD: PATTI MOHABAT KI, PURANA MOGA,
PUNJAB
23 PARAMJIT KAUR & SHARANJIT SINGH INDIVIDUAL 1300 0.03ADD: PATTI MOHABAT KI, PURANA MOGA,
PUNJAB
24 GURPAL SINGH INDIVIDUAL 5000 0.10ADD: VPO LAMME JATT PURA, DISTT.
LUDHIANA, PUNJAB
25 BALWINDER SINGH INDIVIDUAL 5000 0.10ADD: VPO LAMME JATT PURA, DISTT.
LUDHIANA, PUNJAB
26 NIRLEP SINGH & LAKHWINDER KAUR INDIVIDUAL 10030 0.20ADD: DASHMESH NAGAR, DHANOL ROAD,
BARNALA, PUNJAB
LIST OF SHAREHOLDER OF NAU-NIDH FINANCE LIMITED
27 HARBANS SINGH INDIVIDUAL 24900 0.50ADD: VPO TALWANDI BHAI, DISTT. FIROZEPUR
PUNJAB
111 ANNUAL REPORT 2014-2015
S.
NO.NAME CATEGORY NO. OF SHARES % OF SHARES DETAILS
28 TARLOK SINGH INDIVIDUAL 11700 0.24ADD: PATTI MOHABAT KI, PURANA MOGA,
PUNJAB
29 GURMAIL SINGH INDIVIDUAL 2960 0.06ADD: VPO KOKARI KALAN, DISTT. MOGA,
PUNJAB
30 PARAMJIT KAUR INDIVIDUAL 1800 0.04ADD: VPO KOKARI KALAN, DISTT. MOGA,
PUNJAB
31 MANJINDER SINGH INDIVIDUAL 1540 0.03 ADD: BOHANA CHOWK, MOGA, PUNJAB
32 GURJIT KAUR INDIVIDUAL 1500 0.03 ADD: BOHANA CHOWK, MOGA, PUNJAB
33 GURDEV SINGH INDIVIDUAL 8500 0.17 ADD: GEETA COLONY, MOGA, PUNJAB
34 INDERJIT KAUR INDIVIDUAL 2900 0.06 ADD: GEETA COLONY, MOGA, PUNJAB
35 JATINDERPAL SINGH INDIVIDUAL 1700 0.03ADD: 237/2, VEDANT NAGAR, MOGA,
PUNJAB
36 SWARAN KAUR INDIVIDUAL 1700 0.03ADD: 237/2, VEDANT NAGAR, MOGA,
PUNJAB
37 VISHAVPREET KAUR INDIVIDUAL 1600 0.03ADD: 237/2, VEDANT NAGAR, MOGA,
PUNJAB
38 PARAMJIT KAUR INDIVIDUAL 2500 0.05 ADD: GEETA COLONY, MOGA, PUNJAB
39 DAVINDER PAL SINGH INDIVIDUAL 1000 0.02 ADD: GEETA COLONY, MOGA, PUNJAB
40 NAVJOT KAUR INDIVIDUAL 1700 0.03ADD: VPO CHATAR CHUCK, DISTT.
FEROZEPUR, PUNJAB
41 RAJINDER SINGH INDIVIDUAL 3000 0.06 ADD: VPO LOPO, MOGA, PUNJAB
42 JAGJIT SINGH INDIVIDUAL 5000 0.10ADD: VPO SANGAT PURA(JAGRAO), DISTT.
LUDHIANA, PUNJAB
43 GURMEET KAUR INDIVIDUAL 26650 0.54 ADD: VPO MEHANA, DISTT. MOGA, PUNJAB
44 BALDEV SINGH INDIVIDUAL 6500 0.13 ADD: VPO MEHANA, DISTT. MOGA, PUNJAB
45 HARMANDEEP KAUR INDIVIDUAL 3000 0.06ADD: VPO LAMME, THE. JAGRAON, DISTT.
LUDHIANA, PUNJAB
46 SHARANJIT SINGH & PARAMJIT KAUR INDIVIDUAL 81600 1.65ADD: PATTI MOHABAT KI, PURANA MOGA,
PUNJAB
47 JOGINDER SINGH INDIVIDUAL 5500 0.11 ADD: VPO SEKHAN KALAN, MOGA, PUNJAB
48 GURMAIL SINGH INDIVIDUAL 10000 0.20 ADD: VPO BUKAN KALAN, MOGA, PUNJAB
49 SIKANDER SINGH INDIVIDUAL 2500 0.05 ADD: VPO LOPO, DISTT. MOGA, PUNJAB
50 SATNAM SINGH INDIVIDUAL 2500 0.05 ADD: VPO LOPO, DISTT. MOGA, PUNJAB
51 PARAMJIT SINGH INDIVIDUAL 2500 0.05 ADD: VPO LOPO, DISTT. MOGA, PUNJAB
52 KULWANT KAUR INDIVIDUAL 2500 0.05 ADD: VPO LOPO, DISTT. MOGA, PUNJAB
LIST OF SHAREHOLDER OF NAU-NIDH FINANCE LIMITED
112 ANNUAL REPORT 2014-2015
S.
NO.NAME CATEGORY NO. OF SHARES % OF SHARES DETAILS
LIST OF SHAREHOLDER OF NAU-NIDH FINANCE LIMITED
53 BHAJAN SINGH & KIRPAL KAUR INDIVIDUAL 9000 0.18 ADD: BASTI GOBINDGARH, MOGA, PUNJAB
54 HARDEV SINGH & SURJIT KAUR INDIVIDUAL 10000 0.20 ADD: VPO BUKAN WALA, MOGA, PUNJAB
55 SURJIT KAUR INDIVIDUAL 4500 0.09ADD: 636, AGWAR HAKAM KA, MOGA,
PUNJAB
56 AMARJIT KAUR INDIVIDUAL 8000 0.16ADD: BAGHA PURANA, DISTT. MOGA,
PUNJAB
57 RAGHUBIR SINGH INDIVIDUAL 1000 0.02 ADD: VPO BUKAN WALA, MOGA, PUNJAB
58 JAGDEV SINGH BRAR & KULWANT KAUR INDIVIDUAL 5000 0.10ADD: 329, GALI MISTRI HAZARA SINGH,
MOGA, PUNJAB
59 GURDEV CHAND INDIVIDUAL 2200 0.04 ADD:689, CIVIL LINES, MOGA, PUNJAB
60 HAZARA SINGH INDIVIDUAL 6500 0.13ADD: 432, KIRTI NAGAR, FEROZEPUR,
PUNJAB
61 GURDEEP SINGH INDIVIDUAL 10000 0.20ADD: AKALSAR CHOWK, DUSANJ ROAD,
MOGA, PUNJAB
62 KIRANBIR SINGH INDIVIDUAL 1250 0.03ADD: VPO SULTANPUR LODHI, DISTT.
KAPURTHALA
63 HARBHAJAN SINGH INDIVIDUAL 1250 0.03ADD: VPO SULTANPUR LODHI, DISTT.
KAPURTHALA
64 CAPT. DARSHAN SINGH INDIVIDUAL 5000 0.10ADD: VPO JEEWANWALA, DISTT. MOGA,
PUNJAB
65 SURINDER KAUR & PARTAP SINGH INDIVIDUAL 30000 0.61ADD: GALI NO. 6, GILL ROAD, MOGA,
PUNJAB
66 RANJIT SINGH & KULWANT KAUR INDIVIDUAL 10000 0.20ADD: 1056/4, NANAK NAGRI, MOGA,
PUNJAB
67 NAIB SINGH INDIVIDUAL 10000 0.20 ADD: BASTI GOBINDGARH, MOGA, PUNJAB
68 KULWANT KAUR INDIVIDUAL 10000 0.20ADD: 1056/4, NANAK NAGRI, MOGA,
PUNJAB
69 GIAN KAUR INDIVIDUAL 10000 0.20ADD:1056/4, NANAK NAGRI, MOGA,
PUNJAB
70 DALJEET SINGH INDIVIDUAL 5000 0.10ADD: 155, OPP. KHALSA GIRLS SCHOOL,
MOGA, PUNJAB
71 CHAMKOUR SINGH INDIVIDUAL 3900 0.08 ADD: BEDI NAGAR, MOGA, PUNJAB
72 JOGINDER SINGH INDIVIDUAL 4900 0.10ADD: GALI NI. 6, SARDAR NAG, MOGA,
PUNJAB
73 GURMAIL SINGH SOHI INDIVIDUAL 10000 0.20ADD: VPO PHARWALI, DISTT, SANGRUR,
PUNJAB
74 NIRMAL SINGH INDIVIDUAL 10000 0.20ADD: VILL. JHANDEWALA, DISTT. MOGA,
PUNJAB
75 AMAR KAUR INDIVIDUAL 1900 0.04 ADD: GANJI GULAB SINGH, MOGA, PUNJAB
76 SATNAM SINGH INDIVIDUAL 1900 0.04 ADD: GANJI GULAB SINGH, MOGA, PUNJAB
77 SANDEEP KAUR DILLON INDIVIDUAL 1900 0.04 ADD: GANJI GULAB SINGH, MOGA, PUNJAB
78 LAKHVIR SINGH INDIVIDUAL 1900 0.04 ADD: GANJI GULAB SINGH, MOGA, PUNJAB
113 ANNUAL REPORT 2014-2015
S.
NO.NAME CATEGORY NO. OF SHARES % OF SHARES DETAILS
LIST OF SHAREHOLDER OF NAU-NIDH FINANCE LIMITED
79 RAGHBIR SINGH INDIVIDUAL 1900 0.04 ADD: GANJI GULAB SINGH, MOGA, PUNJAB
80 GURDEEP KAUR INDIVIDUAL 1500 0.03 ADD: GANJI GULAB SINGH, MOGA, PUNJAB
81 JOGINDER SINGH INDIVIDUAL 14500 0.29ADD: VPO SHEKHAN KALAN, DISTT. MOGA,
PUNJAB
82 SITA GUPTA INDIVIDUAL 2500 0.05 ADD: AJIT ROAD, BHATINDA, PUNJAB
83 VARUN KUMAR GUPTA INDIVIDUAL 2500 0.05 ADD: AJIT ROAD, BHATINDA, PUNJAB
84 GURDEV SINGH INDIVIDUAL 12500 0.25ADD: 312, AGWAR HAKAM KA, MOGA,
PUNJAB
85 GURDEV SINGH INDIVIDUAL 15000 0.30 ADD: VPO GHOLIA KHURD, MOGA, PUNJAB
86 RAJINDER SINGH INDIVIDUAL 6550 0.13 ADD: VPO DHALLE-KE, MOGA, PUNJAB
87 VERENDER PARTAP SINGH INDIVIDUAL 7000 0.14 ADD: VPO SALINA, MOGA, PUNJAB
88 GURMEJ SINGH INDIVIDUAL 20000 0.41 ADD: VPO NATHUWALA, MOGA, PUNJAB
89 LAKHWINDER KAUR INDIVIDUAL 50000 1.01 ADD: VPO KARYAL, DISTT. MOGA, PUNJAB
90 BALWINDER SINGH INDIVIDUAL 10000 0.20 ADD: VPO GHALL KALAN, MOGA, PUNJAB
91 RANJIT KAUR INDIVIDUAL 15000 0.30 ADD: 258, PATTU DHILLON, MOGA, PUNJAB
92 GURMEET KAUR INDIVIDUAL 10000 0.20 ADD: VPO CHARIK, MOGA, PUNJAB
93 RUPINDER KAUR INDIVIDUAL 70000 1.42 ADD: GREENFIELD COLONY, MOGA, PUNJAB
94 ASHA RANI INDIVIDUAL 10000 0.20 ADD: PREET NAGAR, MOGA, PUNJAB
95 BALWANT KAUR & DILMANDEEP SODHI INDIVIDUAL 23700 0.48ADD: OPP. DILSHAD HOTEL, G.T. ROAD,
MOGA, PUNJAB
96 AVTAR SINGH INDIVIDUAL 11900 0.24ADD: NEAR LAXMAN DI CHAKKI, PURANA
MOGA, PUNJAB
97 BALWINDER KAUR INDIVIDUAL 50000 1.01ADD: KUNDAN NAGAR, FEROZEPUR,
PUNJAB
98 GURMAIL SINGH INDIVIDUAL 50000 1.01 ADD: BASTI GOBINDGARH, MOGA, PUNJAB
99 BHAJAN SINGH INDIVIDUAL 30000 0.61ADD: VPO MULLANPUR, DISTT. LUDHIANA,
PUNJAB
100 DAVINDER SINGH INDIVIDUAL 20000 0.41 ADD: KOTKAPURA ROAD, MOGA, PUNJAB
101 AMARAJIT KAUR INDIVIDUAL 20000 0.41ADD: H.NO. 5, ST.3, GREEN AV., FRIDKOT,
PUNJAB
102 RAMAN DEEP SINGH INDIVIDUAL 401700 8.14ADD: 94/324, GREEN FIELD CLY., MOGA-
142001, PUNJAB
103 RAM PRAKASH INDIVIDUAL 40000 0.81ADD: 145, BASTI GOBINDGARH, MOGA,
PUNJAB
104 VINOD KUMAR INDIVIDUAL 15000 0.30ADD: 145, BASTI GOBINDGARH, MOGA,
PUNJAB
105 DILMANDEEP KAUR & BALWANT KAUR INDIVIDUAL 2500 0.05ADD: OPP. DILSHAD HOTEL, G.T. ROAD,
MOGA, PUNJAB
114 ANNUAL REPORT 2014-2015
LIST OF SHAREHOLDER OF NAU-NIDH FINANCE LIMITED
S.
NO.NAME CATEGORY NO. OF SHARES % OF SHARES DETAILS
106 BALWANT KAUR INDIVIDUAL 2500 0.05ADD: OPP. DILSHAD HOTEL, G.T. ROAD,
MOGA, PUNJAB
107 VARINDER SINGH INDIVIDUAL 2000 0.04ADD: 83-II, SHASTRI NAGAR, OPP, NANAK
PURA GURUDWARA, NEW DELHI
108 PRITAM KAUR INDIVIDUAL 25800 0.52 ADD: CIA STAFF, GALI 5, MOGA, PUNJAB
109 RACHHPAL SINGH INDIVIDUAL 41100 0.83ADD: VPO SHERPUR KALAN, LUDHIANA,
PUNJAB
110 PARAMJIT KAUR INDIVIDUAL 70000 1.42 ADD: SECTOR-69, MOHALI, PUNJAB
111 BHAJAN SINGH INDIVIDUAL 120000 2.43 ADD: BASTI GOBINDGARH, MOGA, PUNJAB
112 ROOP RANI & KEWAL SINGH INDIVIDUAL 20000 0.41 ADD: 1492, CIVIL LINES, MOGA, LUDHIANA
113 RAJINDER KAUR & BALWINDER SINGH INDIVIDUAL 12500 0.25 ADD: C-367, RAJGURU NAGAR, LUDHIANA
114 DAMNINDER SINGH INDIVIDUAL 30000 0.61 ADD: 377, RAMA COLONY, MOGA, PUNJAB
115 PREM LATA INDIVIDUAL 20000 0.41 ADD: 377, RAMA COLONY, MOGA, PUNJAB
116 SWARAN SINGH INDIVIDUAL 80000 1.62ADD: VPO SURAKHPUR, KAPURTHALA,
PUNJAB
117 GURIQBAL SINGH & AJIT SINGH INDIVIDUAL 20000 0.41 ADD: STADIUM ROAD, MOGA
118 SURINDER KAUR INDIVIDUAL 28000 0.57ADD: BEHIND OLD BUS STAND, JAGRAON,
PUNJAB
119 SUKHMANDER SINGH INDIVIDUAL 30000 0.61ADD: VPO SADDA SINGH WALA, MOGA,
PUNJAB
120 GURSEWAK SINGH INDIVIDUAL 30000 0.61ADD: VPO SADDA SINGH WALA, MOGA,
PUNJAB
121 SHAMSHER SINGH INDIVIDUAL 30000 0.61ADD: VPO SADDA SINGH WALA, MOGA,
PUNJAB
122 KULWANT KAUR INDIVIDUAL 50000 1.01ADD: VPO SHEKHAN KALAN, DISTT. MOGA,
PUNJAB
123 GAGANDEEP SINGH & SHAVINDER KAUR INDIVIDUAL 43500 0.88ADD: BEHIND OLD BUS STAND, JAGRAON,
PUNJAB
124 GURPAL SINGH INDIVIDUAL 160000 3.24 ADD: BOHANA CHOWK, MOGA, PUNJAB
125 KULDEEP KAUR INDIVIDUAL 20000 0.41ADD: BEHIND OLD BUS STAND, JAGRAON,
PUNJAB
126 BALAJINDER SINGH INDIVIDUAL 15000 0.30ADD: BEHIND OLD BUS STAND, JAGRAON,
PUNJAB
127 BHAJAN SINGH INDIVIDUAL 8000 0.16ADD: KUNDAN NAGAR, FEROZEPUR,
PUNJAB
128 VARINDER SINGH INDIVIDUAL 6500 0.13ADD: KUNDAN NAGAR, FEROZEPUR,
PUNJAB
129 SHAVINDER KAUR & GAGANDEEP KAUR INDIVIDUAL 14000 0.28ADD: OPP. DILSHAD HOTEL, G.T. ROAD,
MOGA, PUNJAB
130 SARABJIT KAUR INDIVIDUAL 15000 0.30 ADD: GEETA COLONY, MOGA, PUNJAB
131 BALDEV SINGH INDIVIDUAL 50000 1.01ADD: 28, BEHIND OLD BUS STAND,
FEROZEPUR
132 BAKHSISH SINGH HUF HUF 20000 0.41 ADD: BOHANA CHOWK, MOGA, PUNJAB
133 BALDEV SINGH INDIVIDUAL 39000 0.79ADD: VPO SURAKHPUR, KAPURTHALA,
PUNJAB
134 ACHYUT PROPERTIES PRIVATE LIMITEDUNLISTED-BODY
CORPORATE3000 0.06 ANNEXURE I
115 ANNUAL REPORT 2014-2015
135 OMANSH PROPERTIES PRIVATE LIMITEDUNLISTED-BODY
CORPORATE50000 1.01
MERGED INTO RANJITGARH FINANCE CO.
PRIVATE LIMITED (ONE OF THE PROPOSED
ALLOTTEE TO THE PREFERENTIAL ISSUE)
136ERUDITE SHARES AND SECURITIES PRIVATE
LIMITED
UNLISTED-BODY
CORPORATE18000 0.36 ANNEXURE II
137 EVERGREEN REALCON PRIVATE LIMITEDUNLISTED-BODY
CORPORATE70000 1.42 ANNEXURE III
138GOOSE SHARES AND SECURITIES PRIVATE
LIMITED
UNLISTED-BODY
CORPORATE76000 1.54 ANNEXURE IV
139 EXCELLENT COMPUTERS PRIVATE LIMITEDUNLISTED-BODY
CORPORATE20000 0.41 ANNEXURE V
140 JAIN ENTERTAINMENT PRIVATE LIMITEDUNLISTED-BODY
CORPORATE174000 3.53 ANNEXURE VI
141 JAIN IMPEX PRIVATE LIMITEDUNLISTED-BODY
CORPORATE59000 1.20 ANNEXURE VII
142
JATADHARI MARKETING PRIVATE LIMITED
(NOW KNOWN AS WONDROUS MARKETING
PRIVATE LIMITED)
UNLISTED-BODY
CORPORATE25000 0.51 ANNEXURE VIII
143
JIGYASA INFRASTRUCTURE PRIVATE LIMITED
(NOW KNOWN AS JIGYASA
INFRASTRUCTURE LIMITED)
UNLISTED-BODY
CORPORATE70000 1.42 ANNEXURE IX
144
MADHUBAN CONSTRUCTIONS PRIVATE
LIMITED
(NOW KNOWN AS MADHUBAN
CONSTRUCTIONS LIMITED)
UNLISTED-BODY
CORPORATE88000 1.78 ANNEXURE X
145 MADONIS VYAPAR PRIVATE LIMITEDUNLISTED-BODY
CORPORATE45000 0.91 ANNEXURE XI
146 MEGA MASS BUILDTECH PRIVATE LIMITEDUNLISTED-BODY
CORPORATE30000 0.61 ANNEXURE XII
147PSB FREIGHT AND FORWARDERS PRIVATE
LIMITED
UNLISTED-BODY
CORPORATE87000 1.76
KAMAL PIYUSH
AND SHIPRA BANSAL
(ADD: 10, BIRBAL ROAD, FIRST FLOOR,
JANGPURA EXTENTION, NEW DELHI,
110014)
ULTIMATE BENEFICIAL OWNER/
CONTROLLER
148 RAJANI INVESTMENT PRIVATE LIMITEDUNLISTED-BODY
CORPORATE42000 0.85 ANNEXURE XIII
149 RK INVESTMENT LIMITEDUNLISTED-BODY
CORPORATE55000 1.11 ANNEXURE XIV
150 SHARK FINVEST PRIVATE LIMITEDUNLISTED-BODY
CORPORATE20000 0.41 ANNEXURE XV
151
SHREEPATI RASAYNI UDYOG PRIVATE
LIMITED
(NOW KNOWN AS JAGAN NATH INDIA PVT.
LTD.)
UNLISTED-BODY
CORPORATE130000 2.63 ANNEXURE XVI
152 SKYHIGH BUILDTECH PRIVATE LIMITEDUNLISTED-BODY
CORPORATE156000 3.16
SANJAY GARG
(ADD: H. No. 676, KAILASH NAGAR,
GHAZIABAD, UP)
AND ASHISH SHARMA
(A-22, GROUND FLOOR, GALI NO. 3,
GURUNANAK PURA, LAXMI NAGAR, DELHI-
92)
ULTIMATE BENEFICIAL OWNER/
CONTROLLER
153 UNICORN INFRASOL PRIVATE LIMITEDUNLISTED-BODY
CORPORATE20000 0.41
SANJAY GARG
(ADD: H. No. 676, KAILASH NAGAR,
GHAZIABAD, UP)
AND ASHISH SHARMA
(A-22, GROUND FLOOR, GALI NO. 3,
GURUNANAK PURA, LAXMI NAGAR, DELHI-
92)
ULTIMATE BENEFICIAL OWNER/
CONTROLLER
S.
NO.NAME CATEGORY NO. OF SHARES % OF SHARES DETAILS
LIST OF SHAREHOLDER OF NAU-NIDH FINANCE LIMITED
116 ANNUAL REPORT 2014-2015
154
PRISM FINCON PRIVATE LIMITED
(NOW KNOWN AS UDIT INFRATECH PVT.
LTD.)
UNLISTED-BODY
CORPORATE50000 1.01 ANNEXURE XVII
155 ANGAD COMMERCIAL PRIVATE LIMITEDUNLISTED-BODY
CORPORATE55,000 1.11 ANNEXURE XVIII
156 BANGABHUMI VINCOM PRIVATE LIMITEDUNLISTED-BODY
CORPORATE36,000 0.73 ANNEXURE XIX
157 BLUEMOTION TREXIM PRIVATE LIMITEDUNLISTED-BODY
CORPORATE117,500 2.38 ANNEXURE XX
158 HUMBLE AGENCIES PRIVATE LIMITEDUNLISTED-BODY
CORPORATE40,000 0.81 ANNEXURE XXI
159 K.R. OVERSEAS PRIVATE LIMITEDUNLISTED-BODY
CORPORATE30,000 0.61 ANNEXURE XXII
160 LOYAL SUPPLIERS PRIVATE LIMITEDUNLISTED-BODY
CORPORATE70,000 1.42 ANNEXURE XXIII
161 MANGALVANI TRADECON PRIVATE LIMITEDUNLISTED-BODY
CORPORATE80,000 1.62 ANNEXURE XXIV
162RITESHWARI TRADING & INVESTMENTS
PRIVATE LIMITED
UNLISTED-BODY
CORPORATE70,000 1.42 ANNEXURE XXV
163 SPECTRA VANIJYA PRIVATE LIMITEDUNLISTED-BODY
CORPORATE47,000 0.95 ANNEXURE XXVI
164 BAKSHISH SINGH INDIVIDUAL 1,350 0.03 ADD: FEROZEPUR
165 BALDEV SINGH INDIVIDUAL 500 0.01 ADD: MOGA
166 BRAHMDAS INDIVIDUAL 10,650 0.22 ADD: MOGA
167 RAJINDER KAUR INDIVIDUAL 4,550 0.09 ADD: C-367, RAJGURU NAGAR, LUDHIANA
168 SURJIT KAUR INDIVIDUAL 2,600 0.05ADD: BAGHA PURANA, DISTT. MOGA,
PUNJAB
169 N.R. BUILDCON PRIVATE LIMITEDUNLISTED-BODY
CORPORATE222,222 4.50
NASEEM AHMED
(ADD: A-15, (F/S), NIZAMUDDIN WEST,
NEW DELHI, 110013)
AND ROHIT JAIN
(ADD: 26, BRZAR LANE, BHOGAL, NEW
DELHI, 110014)
ULTIMATE BENEFICIAL OWNER/
CONTROLLER4,933,832 100.00Total
S.
NO.NAME CATEGORY NO. OF SHARES % OF SHARES DETAILS
LIST OF SHAREHOLDER OF NAU-NIDH FINANCE LIMITED
117 ANNUAL REPORT 2014-2015
Annexure II
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Erudite Shares and Securities Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Minimum Shares and Securities Private Limited 67000 16.26 holds maximum shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Minimum Shares and Securities Pvt. Ltd
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Goose Shares and Securities Private Limited 61250 17.82 holds maximum shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Goose Shares and Securities Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Madonis Vyapar Private Limited 127500 25.06the only shareholder holding more than 25% shares of the
Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Madonis Vyapar Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 RK Investment Private Limited 118500 16.91 holds maximum shares of the Company
Details of the ultimate beneficial owner/ controller of RK Investment Private Limited
Sr. No. Details No. of shares held % of shares held
1
Raj Kumar Bardia
S/o. Late Sh. Dharm Chand Bardia
Add: 49/29, Rabindra Sarani Rishra, Hoogly, West Bengal
14200 9.30
2
Rohit Bardia
S/o Raj Kumar Bardia
Add: 20B, Old Gupta Colony, Delhi
7000 4.58
Annexure I
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Achyut Properties Private Limited
Sr.
No.Name of Shareholder
No. of shares
held
% of shares
heldRemark
1J.K. L’atelier Limited
(Listed Company)10000 50
the only shareholder holding more than 25% shares of
the Company
Annexure III
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Evergreen Realcon Private Limited
Sr. No. Details of Shareholder No. of shares held % of shares held Remark
1
Jai Kishan
Add: DA-4/106, Main Vikas Marg, Laxmi
Nagar, New Delhi
5000 33.33 holds more than 25% shares of the Company
2
Sandeep Singh
Add: USB-107, Mandawali, Delhi -
110092
4500 30.00 holds more than 25% shares of the Company
118 ANNUAL REPORT 2014-2015
Annexure IV
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Goose Shares and Securities Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Madonis Vyapar Private Limited 127500 25.06the only shareholder holding more than 25% shares of
the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Madonis Vyapar Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 RK Investment Private Limited 118500 16.91 holds maximum shares of the Company
Details of the ultimate beneficial owner/ controller of RK Investment Private Limited
Sr. No. Details No. of shares held % of shares held
1
Raj Kumar Bardia
S/o. Late Sh. Dharm Chand Bardia
Add: 49/29, Rabindra Sarani Rishra, Hoogly, West
Bengal
14200 9.30
2
Rohit Bardia
S/o Raj Kumar Bardia
Add: 20B, Old Gupta Colony, Delhi
7000 4.58
Annexure V
Details of shareholders of Excellent Computers Private Limited
Sr.
No.Details of Shareholder No. of shares held % of shares held
1
Mohit Gupta
S/o. Ashok Kumar Gupta
Add: 36/44, West Punjabi Bagh, New Delhi -
110026
5000 50
2
Neerja Gupta
Add:36/44, West Punjabi Bagh, New Delhi -
110026
5000 50
Annexure VI
Details of shareholders of Jain Entertainment Private Limited
Sr. No. Details of Shareholder No. of shares held% of shares
held
1
Ajay Kumar Jain
Add: WZ-232/6, Sadh Nagar, Palam
Colony, New Delhi-45
5000 50
2
Suresh Chand Jain
Add: WZ-232/6, Sadh Nagar, Palam
Colony, New Delhi-45
5000 50
119 ANNUAL REPORT 2014-2015
Annexure VII
Details of shareholders of Jain Impex Private Limited
Sr. No. Name of Shareholder No. of shares held% of shares
held
1
Ajay Kumar Jain
Add: WZ-232/6, Sadh Nagar, Palam Colony, New
Delhi-45
5000 50
2
Suresh Chand Jain
Add: WZ-232/6, Sadh Nagar, Palam Colony, New
Delhi-45
5000 50
Annexure VIII
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Wondrous Marketing Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Overall Vincom Private Limited 30500 36.16the only shareholder holding more than 25% shares of
the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Overall Vincom Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark Annexure
1 Veronica Sales Private Limited 2312490 46.88 holds more than 25% shares of the Company Annexure VIII A
2 Dignity Vincom Private Limited 2313525 46.90 holds more than 25% shares of the Company Annexure VIII B
Annexure VIII A
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Veronica Sales Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Stepan Commotrade Private Limited 8000 23.53 holds maximum shares of the Company
2 Sri Karani Exports Private Limited 8000 23.53 holds maximum shares of the Company
Details of ultimate beneficial owners/controller of Stepan Commotrade Pvt. Ltd.
Sr. No. Details No. of shares held % of shares held
1
Anand Sagar Thakur
S/o. Subhod Thakur
Address: Radha Nagar Santra Para, 26 Bauria,
Howrah, West Bengal - 711310
10000 0.24
2
Amit Sharma
S/o Hiralal Sharma
95, Dr. Abani Dutta Road Sadar, Howrah, West
Bengal - 711101
10000 0.24
120 ANNUAL REPORT 2014-2015
Details of ultimate beneficial owners/controller of Sri Karani Exports Private Limited
Sr. No. Details No. of shares held % of shares held
1
Amit Sharma
S/o Hiralal Sharma
Add:95, Dr. Abani Dutta Road Sadar, Howrah, West
Bengal - 711101
1000 0.54
2
Subhendu Mitra
S/o Jatin Chandra Mitra
Add: Part No. - 0262, Rajarhat, Gopalpur, Kolkata,
North 24, Parganas,West Bengal - 700059
1000 0.54
3
S. Mitra
Add: Damayanti Appartments, GR. FL. Ghosh Para,
Jyangra, Kolkata, West Bengal-700059
100850 53.94
Annexure VIII B
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Dignity Vincom Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Bholebaba Suppliers Private Limited 8000 24.81 holds maximum shares of the Company
2 East Coast Export Import Pvt. Ltd. 8000 24.81 holds maximum shares of the Company
Details of ultimate beneficial owners/controller of Bholebaba Suppliers Private Limited
Sr. No. Details No. of shares held % of shares held
1
Amit Sharma
S/o Hiralal Sharma
Add:95, Dr. Abani Dutta Road Sadar, Howrah, West
Bengal - 711101
205000 4.52
2
Samir Manna
S/o Dulal Manna
Add: Deulti Dakshinpurba, Deulti Bagnan, Howrah,
West Bengal - 711303
205000 4.52
Details of ultimate beneficial owners/controller of East Coast Export Import Pvt. Ltd.
Sr. No. Details No. of shares held % of shares held
1
Amit Sharma
S/o Hiralal Sharma
Add:95, Dr. Abani Dutta Road Sadar, Howrah, West
Bengal - 711101
30000 1.30
2
Pradipta Kumar Barick
Add: 19, R.N. Mukherjee Road, TI Busin, ESS Centre,
IInd Floor, RM No. -11, Howrah, West Bengal -
700001
30000 1.30
121 ANNUAL REPORT 2014-2015
Annexure IX
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Jigyasa Infrastructure Limited
Sr.
No.Name of Shareholder
No. of shares
held% of shares held Remark
1 Golas Computech Private Limited 3885000 31.49 holds more than 25% shares of the Company
2 Sanjay Pharma Private Limited 3885000 31.49 holds more than 25% shares of the Company
Details of shareholders of Golas Computech Pvt. Ltd.
Sr.
No.Name of Shareholder
No. of shares
held% of shares held
1
Jai Kishan
S/o Lallan Singh
Add: DA-4, 106, Main Vikas Marg,
Shakarpur, Delhi - 110092
5000 50
2
Arvind Gupta
S/o Kali Charan Gupta
Add: R 10. A-44, Priyadarshani Vihar,
Delhi - 110092
5000 50
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Sanjay Pharma Pvt. Ltd.
Sr.
No.Name of Shareholder
No. of shares
held% of shares held Remark
1
Harish
S/o. Ram Shanker
Add: Arikhada
3300 5.02 holds maximum shares of the Company
Annexure X
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Madhuban Constructions Limited
Sr. No. Name of ShareholderNo. of shares
held% of shares held Remark
1 Ridevel Gears Private Limited 2735000 22.67 holds maximum shares of the Company
Details of shareholders of Ridevel Gears Pvt. Ltd.
Sr. No. Name of ShareholderNo. of shares
held% of shares held
1
Gaurav Jain
S/o Sh. Surakshah . K. Jain
Add: B-38, Satyawati Nagar, Ashok Vihar,
Ph-3, Delhi - 110052
5000 50
2
Rajan Bakshi
S/o Krishan Lal Bakshi
Add: BB-3B, East Shalimar Bagh, Delhi -
110088
5000 50
122 ANNUAL REPORT 2014-2015
Annexure XI
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Madonis Vyapar Private Limited
Sr. No. Name of Shareholder No. of shares held% of shares
heldRemark
1 RK Investment Private Limited 118500 16.91 holds maximum shares of the Company
Details of the ultimate beneficial owner/ controller of RK Investment Private Limited
Sr. No. Details No. of shares held% of shares
held
1
Raj Kumar Bardia
S/o. Late Sh. Dharm Chand Bardia
Add: 49/29, Rabindra Sarani Rishra, Hoogly,
West Bengal
14200 9.30
2
Rohit Bardia
S/o Raj Kumar Bardia
Add: 20B, Old Gupta Colony, Delhi
7000 4.58
Annexure XII
Details of shareholders of Mega Mass Buildtech Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held
1
Sanjay Garg
S/o. Sh Ram Avatar
Add: H. No. 676, Kailash Nagar, Ghaziabad, Uttar Pradesh
5000 50
2
Ashish Sharma
S/o Sh. Hari Om Sharma
Add: A-22, Ground Floor, Gali No. 3, Guru Nanak Pura,
Laxmi Nagar, Delhi - 92
5000 50
123 ANNUAL REPORT 2014-2015
Annexure XIII
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Rajani Investment Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Jasnath Infrastructure Pvt. Ltd. 21570 20.50 holds maximum shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Jasnath Infrastructure Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Madonis Vyapar Pvt. Ltd. 34050 21.82 holds maximum shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Madonis Vyapar Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 RK Investment Private Limited 118500 16.91 holds maximum shares of the Company
Details of the ultimate beneficial owner/ controller of RK Investment Private Limited
Sr. No. Details No. of shares held % of shares held
1
Raj Kumar Bardia
S/o. Late Sh. Dharm Chand Bardia
Add: 49/29, Rabindra Sarani Rishra, Hoogly, West
Bengal
14200 9.30
2
Rohit Bardia
S/o Raj Kumar Bardia
Add: 20B, Old Gupta Colony, Delhi
7000 4.58
Annexure XIV
Details of the ultimate beneficial owner/ controller of R.K. Investment Private Limited
Sr. No. Details No. of shares held % of shares held
1
Raj Kumar Bardia
S/o. Late Sh. Dharm Chand Bardia
Add: 49/29, Rabindra Sarani Rishra, Hoogly, West Bengal
14200 9.30
2
Rohit Bardia
S/o Raj Kumar Bardia
Add: 20B, Old Gupta Colony, Delhi
7000 4.58
Annexure XV
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Shark Finvest Private Limited
Sr.
No.Details of Shareholder
No. of shares
held% of shares held Remark
1Sunil Kumar Agarwal
Add: F-14B, Laxmi Nagar, Delhi2100 21 holds maximum shares of the Company
124 ANNUAL REPORT 2014-2015
Annexure XVI
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Jagan Nath India Pvt. Ltd.
Sr. No. Details of Shareholder No. of shares held % of shares held Remark
1Desh Bandhu Gupta
Add: D-92, Preet Vihar, New Delhi - 110092120000 13.24 holds maximum shares of the Company
2Satya Prakash Gupta
Add: D-3, Preet Vihar, New Delhi - 110092120000 13.24 holds maximum shares of the Company
3Shakuntala Gupta
Add: D-3, Preet Vihar, New Delhi - 110092120000 13.24 holds maximum shares of the Company
4Sunita Gupta
Add: D-3, Preet Vihar, New Delhi - 110092120000 13.24 holds maximum shares of the Company
Annexure XVII
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Udit Infratech Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Sector Agencies Private Limited 252000 48.55 holds more than 25% shares of the Company
2 Memorial Agencies Private Limited 257000 49.52 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Sector Agencies Private Limited
Sr. No. Details of Shareholder No. of shares held % of shares held Remark
1
Mukul Agarwal HUF
Karta - Mukul Agarwal
Add: 3, Madan Mohan Burman Street, Kolkata,
West Bengal - 700007
17000 48.23the only shareholder holding more than 25% shares of the
Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Memorial Agencies Private Limited
Sr. No. Details of Shareholder No. of shares held % of shares held Remark
1
Udit Agarwal
Add: 3, Madan Mohan Burman Street, Kolkata,
West Bengal - 700007
18000 50the only shareholder holding more than 25% shares of the
Company
Annexure XVIII
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Angad Commercial Private Limited
Sr. No. Name of ShareholderNo. of shares
held
% of shares
heldRemark
1
Ajit Singh
S/o LT. Sh. Tarak Nath Singh
Add: 1/H/34, Ramesh Dutta Street, PO. - Bidon Street,
Kolkata, West Bengal - 700006
56000 25.87the only shareholder holding more than 25% shares of the
Company
125 ANNUAL REPORT 2014-2015
Annexure XIX
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Bangabhumi Vincom Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark Annexure
1 Delicate Goods Pvt. Ltd 233300 47.94 holds more than 25% shares of the Company Annexure XIX A
2 Chen Vyapaar Pvt. Ltd. 150000 30.83 holds more than 25% shares of the Company Annexure XIX B
Annexure XIX A
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Delicate Goods Pvt. Ltd
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Kirti Goods Pvt. Ltd. 93750 19.77 holds maximum shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Kirti Goods Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Laxmidhan Mercantile Private Limited 266000 49.28 holds more than 25% shares of the Company
2 Parasnath Merchandise Private Limited 263750 48.87 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (which ver is higher) of Laxmidhan Mercantile Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1
Sushil Karwa
S/o Arwind Karwa
Add: 13, B.B. Ganguly Street, Kolkata - 700012
5000 32.05 holds more than 25% shares of the Company
2
Raju Agarwal
S/o Sunderial Agarwal
Add: 13, B. B. Ganguly Street, Kolkata - 700012
5000 32.05 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Parasnath Merchandise Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1
Ramji Yadav
S/o Bishashar Yadav
Add: 4, Raja Sri Radhakanta Deb Lane Kolkata -
700 005
5000 31.75 holds more than 25% shares of the Company
2
Umesh Yadav
S/o Ghanshyam Yadav
Add: 4, Raja Sri Radhakanta Deb Lane Kolkata -
700 005
5000 31.75 holds more than 25% shares of the Company
Annexure XIX B
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Chen Vyapaar Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Bluemotion Trexim Private Limited 200000 28.56the only shareholder holding more than 25% shares of the
Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Bluemotion Trexim Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Delicate Goods Pvt. Ltd 43300 26.32the only shareholder holding more than 25% shares of the
Company
126 ANNUAL REPORT 2014-2015
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Delicate Goods Pvt. Ltd
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Kirti Goods Pvt. Ltd. 93750 19.77 holds maximum shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Kirti Goods Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Laxmidhan Mercantile Private Limited 266000 49.28 holds more than 25% shares of the Company
2 Parasnath Merchandise Private Limited 263750 48.87 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Laxmidhan Mercantile Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1
Sushil Karwa
S/o Arwind Karwa
Add: 13, B.B. Ganguly Street, Kolkata - 700012
5000 32.05 holds more than 25% shares of the Company
2
Raju Agarwal
S/o Sunderial Agarwal
Add: 13, B. B. Ganguly Street, Kolkata - 700012
5000 32.05 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Parasnath Merchandise Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1
Ramji Yadav
S/o Bishashar Yadav
Add: 4, Raja Sri Radhakanta Deb Lane Kolkata -
700 005
5000 31.75 holds more than 25% shares of the Company
2
Umesh Yadav
S/o Ghanshyam Yadav
Add: 4, Raja Sri Radhakanta Deb Lane Kolkata -
700 005
5000 31.75 holds more than 25% shares of the Company
Annexure XX
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Bluemotion Trexim Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Delicate Goods Pvt. Ltd 43300 26.32the only shareholder holding more than 25% shares of the
Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Delicate Goods Pvt. Ltd
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Kirti Goods Pvt. Ltd. 93750 19.77 holds maximum shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Kirti Goods Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Laxmidhan Mercantile Private Limited 266000 49.28 holds more than 25% shares of the Company
2 Parasnath Merchandise Private Limited 263750 48.87 holds more than 25% shares of the Company
127 ANNUAL REPORT 2014-2015
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Laxmidhan Mercantile Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1
Sushil Karwa
S/o Arwind Karwa
Add: 13, B.B. Ganguly Street, Kolkata - 700012
5000 32.05 holds more than 25% shares of the Company
2
Raju Agarwal
S/o Sunderial Agarwal
Add: 13, B. B. Ganguly Street, Kolkata - 700012
5000 32.05 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Parasnath Merchandise Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1
Ramji Yadav
S/o Bishashar Yadav
Add: 4, Raja Sri Radhakanta Deb Lane Kolkata -
700 005
5000 31.75 holds more than 25% shares of the Company
2
Umesh Yadav
S/o Ghanshyam Yadav
Add: 4, Raja Sri Radhakanta Deb Lane Kolkata -
700 005
5000 31.75 holds more than 25% shares of the Company
Annexure XXI
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Humble Agencies Private Limited
Sr.
No.Name of Shareholder No. of shares held % of shares held Remark
1 Mao Vyapaar Pvt. Ltd. 29000 27.23the only shareholder holding more than 25% shares of
the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Mao Vyapaar Pvt. Ltd.
Sr.
No.Name of Shareholder No. of shares held % of shares held Remark Annexure
1 VKJ Trexim Private Limited 110950 26.29 holds more than 25% shares of the Company Annexure XXI A
2 Anupriya Vinimay Private Limited 110000 26.07 holds more than 25% shares of the Company Annexure XXI B
Annexure XXI A
Details of the ultimate beneficial owner/ controller of VKJ Trexim Private Limited
Sr.
No.Details of Shareholder No. of shares held % of shares held
1
Shiv Shankar Gupta
S/o Late Ram Bali Gupta
Add: 178, M.G. Road, Kolkata - 700007
5000 0.92
2
Kamal Ray
S/o Ganga Bisnu Ray
Add: 18, Giri Babu Lane, Kolkata - 700012
5000 0.92
128 ANNUAL REPORT 2014-2015
Annexure XXI B
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Anupriya Vinimay Private Limited
Sr.
No.Details of Shareholder No. of shares held % of shares held Remark
1 Laxmidhan Mercantile Private Limited 290000 48.62 holds more than 25% shares of the Company
2 Parasnath Merchandise Private Limited 296500 49.71 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Laxmidhan Mercantile Private Limited
Sr.
No.Name of Shareholder No. of shares held % of shares held Remark
1
Sushil Karwa
S/o Arwind Karwa
Add: 13, B.B. Ganguly Street, Kolkata - 700012
5000 32.05 holds more than 25% shares of the Company
2
Raju Agarwal
S/o Sunderial Agarwal
Add: 13, B. B. Ganguly Street, Kolkata - 700012
5000 32.05 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Parasnath Merchandise Private Limited
Sr.
No.Name of Shareholder No. of shares held % of shares held Remark
1
Ramji Yadav
S/o Bishashar Yadav
Add: 4, Raja Sri Radhakanta Deb Lane Kolkata - 700
005
5000 31.75 holds more than 25% shares of the Company
2
Umesh Yadav
S/o Ghanshyam Yadav
Add: 4, Raja Sri Radhakanta Deb Lane Kolkata - 700
005
5000 31.75 holds more than 25% shares of the Company
Annexure XXII
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of K.R. Overseas Private Limited
Sr.
No.Name of Shareholder No. of shares held % of shares held Remark Annexure
1 Anugrah Vinimay Pvt. Ltd. 11535600 49.99 holds more than 25% shares of the Company Annexure XXII A
2 Chaturbhuj Dealers Pvt. Ltd. 11536100 49.99 holds more than 25% shares of the Company Annexure XXII B
Annexure XXII A
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Anugrah Vinimay Pvt. Ltd.
Sr.
No.Name of Shareholder No. of shares held % of shares held Remark
1 Ambala trafin Pvt. Ltd. 15000 37.50 holds more than 25% shares of the Company
2 Robot Commercial Private Limited 15000 37.50 holds more than 25% shares of the Company
Details of the ultimate beneficial owner/ controller of Ambala trafin Pvt. Ltd.
Sr.
No.Details of Shareholder No. of shares held % of shares held
1
Sarika Churaria
Add: 334, Jessore Road, Kolkata, West Bengal
- 700089
290000 1.38
2
Anil Kumar Churaria
Add: 334, Jessore Road, Kolkata, West Bengal
- 700089
920000 4.37
3
Madhulika Churaria
Add: 334, Jessore Road, Kolkata, West Bengal
- 700089
240000 1.14
129 ANNUAL REPORT 2014-2015
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Robot Commercial Private Limited
Sr.
No.Name of Shareholder No. of shares held % of shares held Remark
1 Signature Dealtrade Private Limited 17500 16.22 holds maximum shares of the Company
Details of the ultimate beneficial owner/ controller of Signature Dealtrade Private Limited
Sr.
No.Details of Shareholder No. of shares held % of shares held
1
Prem Nath Mali
S/o Dukhram Mali
Add: 4D, 3rd Floor, Madan Mohan Burman
Street, Kolkata, West Bengal - 700007
5000 4.41
2
Jitendra Chaudhery
S/o Mewa Lal Chaudhery
Add: 59B/H/4, Sambhu Babu Lane, 55,
Entally, Kolkata, West Bengal - 700014
5000 4.41
Annexure XXII B
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Chaturbhuj Dealers Pvt. Ltd
Sr.
No.Name of Shareholder No. of shares held % of shares held Remark
1 Robot Commercial Private Limited 27500 42.31 holds more than 25% shares of the Company
2 Signature Dealtrade Private Limited 27500 42.31 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Robot Commercial Private Limited
Sr.
No.Name of Shareholder No. of shares held % of shares held Remark
1 Signature Dealtrade Private Limited 17500 16.22 holds maximum shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Signature Dealtrade Private Limited
Sr.
No.Details of Shareholder No. of shares held % of shares held
1
Prem Nath Mali
S/o Dukhram Mali
Add: 4D, 3rd Floor, Madan Mohan Burman
Street, Kolkata, West Bengal - 700007
5000 4.41
2
Jitendra Chaudhery
S/o Mewa Lal Chaudhery
Add: 59B/H/4, Sambhu Babu Lane, 55,
Entally, Kolkata, West Bengal - 700014
5000 4.41
Annexure XXIII
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Loyal Suppliers Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark Annexure
1 Delicate Goods Pvt. Ltd 17500 21.88 holds maximum shares of the Company Annexure XXIII A
2 Mao Vyapaar Pvt. Ltd. 17500 21.88 holds maximum shares of the Company Annexure XXIII B
Annexure XXIII A
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Delicate Goods Pvt. Ltd
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Kirti Goods Pvt. Ltd. 93750 19.77 holds maximum shares of the Company
130 ANNUAL REPORT 2014-2015
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Kirti Goods Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Laxmidhan Mercantile Private Limited 266000 49.28 holds more than 25% shares of the Company
2 Parasnath Merchandise Private Limited 263750 48.87 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Laxmidhan Mercantile Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1
Sushil Karwa
S/o Arwind Karwa
Add: 13, B.B. Ganguly Street, Kolkata - 700012
5000 32.05 holds more than 25% shares of the Company
2
Raju Agarwal
S/o Sunderial Agarwal
Add: 13, B. B. Ganguly Street, Kolkata - 700012
5000 32.05 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Parasnath Merchandise Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1
Ramji Yadav
S/o Bishashar Yadav
Add: 4, Raja Sri Radhakanta Deb Lane Kolkata - 700 005
5000 31.75 holds more than 25% shares of the Company
2
Umesh Yadav
S/o Ghanshyam Yadav
Add: 4, Raja Sri Radhakanta Deb Lane Kolkata - 700 005
5000 31.75 holds more than 25% shares of the Company
Annexure XXIII B
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Mao Vyapaar Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 VKJ Trexim Private Limited 110950 26.29 holds more than 25% shares of the Company
2 Anupriya Vinimay Private Limited 110000 26.07 holds more than 25% shares of the Company
Details of the ultimate beneficial owner/ controller of VKJ Trexim Private Limited
Sr. No. Details of Shareholder No. of shares held % of shares held
1
Shiv Shankar Gupta
S/o Late Ram Bali Gupta
Add: 178, M.G. Road, Kolkata - 700007
5000 0.92
2
Kamal Ray
S/o Ganga Bisnu Ray
Add: 18, Giri Babu Lane, Kolkata - 700012
5000 0.92
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Anupriya Vinimay Private Limited
Sr. No. Details of Shareholder No. of shares held % of shares held Remark
1 Laxmidhan Mercantile Private Limited 290000 48.62 holds more than 25% shares of the Company
2 Parasnath Merchandise Private Limited 296500 49.71 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Laxmidhan Mercantile Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1
Sushil Karwa
S/o Arwind Karwa
Add: 13, B.B. Ganguly Street, Kolkata - 700012
5000 32.05 holds more than 25% shares of the Company
2
Raju Agarwal
S/o Sunderial Agarwal
Add: 13, B. B. Ganguly Street, Kolkata - 700012
5000 32.05 holds more than 25% shares of the Company
131 ANNUAL REPORT 2014-2015
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Parasnath Merchandise Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1
Ramji Yadav
S/o Bishashar Yadav
Add: 4, Raja Sri Radhakanta Deb Lane Kolkata - 700 005
5000 31.75 holds more than 25% shares of the Company
2
Umesh Yadav
S/o Ghanshyam Yadav
Add: 4, Raja Sri Radhakanta Deb Lane Kolkata - 700 005
5000 31.75 holds more than 25% shares of the Company
Annexure XXIV
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Mangalvani Tradecon Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Athena Mercantile Pvt Ltd 30600 24.25 holds maximum shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Athena Mercantile Pvt Ltd
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Topflow Mercantile Private Limited 220000 22.75 holds maximum shares of the Company
Details of the ultimate beneficial owner/ controller of Topflow Mercantile Private Limited
Sr. No. Details of Shareholder No. of shares held % of shares held
1
Susanta Pal
S/o Subhash Chandra Pal
Add: 32, Ajoy Nagar, 2nd Floor Kolkata, West
Bengal - 700075
5000 1.72
2
Kartik Jana
S/o Anil Jana
Add: 302, New Wing, 7A, Bentinck Street,
Kolkata, West Bengal - 700001
5000 1.72
Annexure XXV
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Riteshwari Trading & Investment Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark Annexure
1 Achintaya Trading Pvt. Ltd. 12199000 52.34 holds more than 25% shares of the Company Annexure XXV A
2 Pinakini Mercantile Pvt. Ltd. 10000000 42.91 holds more than 25% shares of the Company Annexure XXV B
Annexure XXV A
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Achintaya Trading Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Bholebaba Suppliers Private Limited 12500 17.24 holds maximum shares of the Company
2 East Coast Export Import Pvt. Ltd. 12500 17.24 holds maximum shares of the Company
3 Pujitha Infratech Private Limited 12500 17.24 holds maximum shares of the Company
4 Overall Vincom Pvt. Ltd. 12500 17.24 holds maximum shares of the Company
5 Stepan Commotrade Pvt. Ltd. 12500 17.24 holds maximum shares of the Company
132 ANNUAL REPORT 2014-2015
Details of ultimate beneficial owners/controller of Bholebaba Suppliers Private Limited
Sr. No. Details of Shareholder No. of shares held % of shares held
1
Amit Sharma
S/o Hiralal Sharma
Add:95, Dr. Abani Dutta Road Sadar, Howrah, West
Bengal - 711101
205000 4.52
2
Samir Manna
S/o Dulal Manna
Add: Deulti Dakshinpurba, Deulti Bagnan, Howrah,
West Bengal - 711303
205000 4.52
Details of ultimate beneficial owners/controller of East Coast Export Import Pvt. Ltd.
Sr. No. Details of Shareholder No. of shares held % of shares held
1
Amit Sharma
S/o Hiralal Sharma
Add:95, Dr. Abani Dutta Road Sadar, Howrah, West
Bengal - 711101
30000 1.30
2
Pradipta Kumar Barick
Add: 19, R.N. Mukherjee Road, TI Busin, ESS Centre,
Iind Floor, RM No. -11, Howrah, West Bengal -
700001
30000 1.30
Details of ultimate beneficial owners/controller of Pujitha Infratech Private Limited
Sr. No. Details of Shareholder No. of shares held % of shares held
1
Anand Sagar Thakur
S/o Subodh Thakur
Add: Radha Nagar Santra Para, 26 Bauria, Howrah,
West Bengal - 711310
1000 0.10
2
Subhendu Mitra
S/o Jatin Chandra Mitra
Add: Part No. 0262, Gopalpur, North 24, Pargana,
Kolkata, West Bengal - 700059
1000 0.10
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Overall Vincom Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Veronica Sales Private Limited 2312490 46.88 holds more than 25% shares of the Company
2 Dignity Vincom Private Limited 2313525 46.90 holds more than 25% shares of the Company
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Veronica Sales Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Stepan Commotrade Private Limited 8000 23.53 holds maximum shares of the Company
2 Sri Karani Exports Private Limited 8000 23.53 holds maximum shares of the Company
Details of ultimate beneficial owners/controller of Stepan Commotrade Pvt. Ltd.
Sr. No. Details No. of shares held % of shares held
1
Anand Sagar Thakur
S/o. Subhod Thakur
Address: Radha Nagar Santra Para, 26 Bauria,
Howrah, West Bengal - 711310
10000 0.24
Amit Sharma
2S/o Hiralal Sharma
95, Dr. Abani Dutta Road Sadar, Howrah, West Bengal
- 711101
10000 0.24
133 ANNUAL REPORT 2014-2015
Details of ultimate beneficial owners/controller of Sri Karani Exports Private Limited
Sr. No. Details No. of shares held % of shares held
1
Amit Sharma
S/o Hiralal Sharma
Add:95, Dr. Abani Dutta Road Sadar, Howrah, West
Bengal - 711101
1000 0.54
2
Subhendu Mitra
S.o Jatin Chandra Mitra
Add: Part No. - 0262, Rajarhat, Gopalpur, Kolkata,
West Bengal - 700059
1000 0.54
3
S. Mitra
Add: Damayanti Appartments, GR. FL. Ghosh Para,
Jyangra, Kolkata, West Bengal-700059
100850 53.94
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Dignity Vincom Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Bholebaba Suppliers Private Limited 8000 24.81 holds maximum shares of the Company
2 East Coast Export Import Pvt. Ltd. 8000 24.81 holds maximum shares of the Company
Details of ultimate beneficial owners/controller of Bholebaba Suppliers Private Limited
Sr. No. Details No. of shares held % of shares held
1
Amit Sharma
S/o Hiralal Sharma
Add:95, Dr. Abani Dutta Road Sadar, Howrah, West
Bengal - 711101
205000 4.52
2
Samir Manna
S/o Dulal Manna
Add: Deulti Dakshinpurba, Deulti Bagnan, Howrah,
West Bengal - 711303
205000 4.52
Details of ultimate beneficial owners/controller of East Coast Export Import Pvt. Ltd.
Sr. No. Details No. of shares held % of shares held
1
Amit Sharma
S/o Hiralal Sharma
Add:95, Dr. Abani Dutta Road Sadar, Howrah, West
Bengal - 711101
30000 1.30
2
Pradipta Kumar Barick
Add: 19, R.N. Mukherjee Road, TI Busin, ESS Centre,
Iind Floor, RM No. -11, Howrah, West Bengal -
700001
30000 1.30
Details of ultimate beneficial owners/controller of Stepan Commotrade Pvt. Ltd.
Sr. No. Details No. of shares held % of shares held
1
Anand Sagar Thakur
S/o. Subhod Thakur
Address: Radha Nagar Santra Para, 26 Bauria,
Howrah, West Bengal - 711310
10000 0.24
2
Amit Sharma
S/o Hiralal Sharma
95, Dr. Abani Dutta Road Sadar, Howrah, West Bengal
- 711101
10000 0.24
Annexure XXV B
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Pinakini Mercantile Pvt. Ltd.
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Bholebaba Suppliers Private Limited 12500 20.8 holds maximum shares of the Company
2 East Coast Export Import Pvt. Ltd. 12500 17.24 holds maximum shares of the Company
3 Pujitha Infratech Private Limited 12500 17.24 holds maximum shares of the Company
5 Stepan Commotrade Pvt. Ltd. 12500 17.24 holds maximum shares of the Company
134 ANNUAL REPORT 2014-2015
Details of ultimate beneficial owners/controller of Bholebaba Suppliers Private Limited
Sr. No. Details of Shareholder No. of shares held % of shares held
1
Amit Sharma
S/o Hiralal Sharma
Add:95, Dr. Abani Dutta Road Sadar, Howrah, West
Bengal - 711101
205000 4.52
2
Samir Manna
S/o Dulal Manna
Add: Deulti Dakshinpurba, Deulti Bagnan, Howrah,
West Bengal - 711303
205000 4.52
Details of ultimate beneficial owners/controller of East Coast Export Import Pvt. Ltd.
Sr. No. Details of Shareholder No. of shares held % of shares held
1
Amit Sharma
S/o Hiralal Sharma
Add:95, Dr. Abani Dutta Road Sadar, Howrah, West
Bengal - 711101
30000 1.30
2
Pradipta Kumar Barick
Add: 19, R.N. Mukherjee Road, TI Busin, ESS Centre,
Iind Floor, RM No. -11, Howrah, West Bengal -
700001
30000 1.30
Details of ultimate beneficial owners/controller of Pujitha Infratech Private Limited
Sr. No. Details of Shareholder No. of shares held % of shares held
1
Anand Sagar Thakur
S/o Subodh Thakur
Add: Radha Nagar Santra Para, 26 Bauria, Howrah,
West Bengal - 711310
1000 0.10
2
Subhendu Mitra
S/o Jatin Chandra Mitra
Add: Part No. 0262, Gopalpur, North 24, Pargana,
Kolkata, West Bengal - 700059
1000 0.10
Details of ultimate beneficial owners/controller of Stepan Commotrade Pvt. Ltd.
Sr. No. Details No. of shares held % of shares held
1
Anand Sagar Thakur
S/o. Subhod Thakur
Address: Radha Nagar Santra Para, 26 Bauria,
Howrah, West Bengal - 711310
10000 0.24
2
Amit Sharma
S/o Hiralal Sharma
95, Dr. Abani Dutta Road Sadar, Howrah, West Bengal
- 711101
10000 0.24
Spectra Vanijya Private Limited - Annexure XXVI
Details of shareholders holding maximum shares or more than 25% shares (whichever is higher) of Spectra Vanijya Private Limited
Sr. No. Name of Shareholder No. of shares held % of shares held Remark
1 Chhaya Rani Si 50000 27.86holds more than 25% shares of the
Company
2 Morgan Enterprises Pvt. Ltd. 78000 43.45holds more than 25% shares of the
Company
135 ANNUAL REPORT 2014-2015
Details of ultimate beneficial owners/controller of Morgan Enterprises Pvt. Ltd.
Sr. No. Details of Shareholder No. of shares held % of shares held
1
Surojit Das Gupta
Add:29, Deben Basu Road, P.O.-
Kanchrapara, Kolkata, 24, Parganas
(North), West Bengal - 743145
72000 5.61
2
Mrinal Sinha
Add: 2, Corporation Palace, 2nd
Floor, Kolkata, West Bengal - 700087
53500 4.17
3
Brijesh Kumar Mishra
Add: 114, Andul Road, B. Garden,
Shibpur, Howrah, West Bengal -
711103
22500 1.75
4
Niranjan Kumar Si
Add: Vill-Osmanpur, PO-Sasati,
Howrah, West Bengal - 7111326
72500 5.64
5
Raj Kumar Shah HUF
Add: 19A, Harish Mukerjee Road,
Kolkata, West Bengal - 700025
50400 3.92
6
Bimla Devi Soni
Add:23, Rajendra, Mullick Street,
Kolkata, West Bengal-700007
47600 3.71
7
Madhu Verma
Add: P-17, Kalakar Street, Kolkate,
West Bengal -700007
62500 4.87
8
Prem Shankar Dey
Add: Vill & PO-Rajivpur, Thana,
Habra, Kolkata, 24-parganas (N),
West Bengal -743702
63500 4.94
9
Vijay Shankar Mishra
Add: 114, Andul Road, B.Garden,
Shibpur, Howrah, West Bengal -
711103
110000 8.56
10
Swapan Das
Add: Vill-Basudevpur, PS-Belkulai,
Howrah, West Bengal -711322
60000 4.67
11
Tarun Surolia HUF
Karta-Tarun Surolia
Add: 33, Balaramdey Street, Kolkata,
West Bengal-700006
60000 4.67
12
Sagar Mal Sharma
Add:33, Balaramdey Street, Kolkata,
West Bengal-700006
63900 4.97
136 ANNUAL REPORT 2014-2015
MAX HEIGHTS INFRASTRUCTURE LIMITED
CIN: L67120DL1981PLC179487
Regd. Off. : SD-65, Tower Apartment, Pitampura, New Delhi -110034 Tel : 011-2731 4646, Fax: 011-2731 5115
Website: www.maxheights.com; Email ID: [email protected]
PROXY FORM – MGT – 11
[Pursuant to Section 105(6) of the Companies Act, 2013 and Rule 19(3) of Companies (Management and Administration) Rules, 2014]
CIN: L67120DL1981PLC179487
Name of the Company: Max Heights Infrastructure Limited
Registered Office: SD-65, Tower Apartment, Pitampura, New Delhi -110034
Name of the Members(s)
Registered Address
Email ID
DP ID and Client Id/ Folio No.
I/we being the member (s) of ________ Equity Shares of Max Heights Infrastructure Limited, hereby appoint:
1. Name_____________________________Address:________________________________________________________
Email ID_________________________________Signature:___________________________________ or failing him/her
2. Name_____________________________Address:________________________________________________________
Email ID_________________________________Signature:___________________________________ or failing him/her
3. Name_____________________________Address:________________________________________________________
Email ID_________________________________Signature:____________________________ ____________________
MAX HEIGHTS INFRASTRUCTURE LIMITED
CIN: L67120DL1981PLC179487
Regd. Off. : SD-65, Tower Apartment, Pitampura, New Delhi -110034
Tel: 011-2731 4646, Fax: 011-2731 5115
Website: www.maxheights.com; Email ID: [email protected]
ATTENDANCE SLIP
Members or their proxies are requested to present this form for admission, duly signed in accordance with their specimen
signatures registered with the Company.
DP Id & Client Id / Regd. Folio No.*
No. of Shares
Name and Address of the Shareholder
Name and Address of the Proxy
*Applicable for member holding shares in physical form.
I/We hereby record my/ our presence at the Thirty Fourth Annual General Meeting of the Company being held on Saturday, 12th
September, 2015 at 12:30 p.m. at Twist ‘n’ Turn Banquet, 226 – 227, Shop-in Park Mall, Shalimar Bagh, New Delhi – 110088.
Please (√) in the box
□ Member □ Proxy __________________________
Signature of Member/ Proxy
137 ANNUAL REPORT 2014-2015
Signed this________ day of _______
Signature of shareholder_________________________
Signature of Proxy holder(s) ______________________
Note: This form of proxy in order to be effective should be duly completed and deposited at the registered office of the
Company, not being less than 48 hours before the commencement of the meeting.
Affix Revenue
Stamp of 1
As my/or our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the Thirty Fourth Annual General Meeting
of the Company scheduled to be held on Saturday, 12th
September, 2015 at 12:30 p .m. at Twist ‘n’ Turn Banquet, 226 – 227,
Shop-in Park Mall, Shalimar Bagh, New Delhi -110088 and at any adjournment thereof in respect of such resolutions as are
indicated below:
Res.
No.Description
1To receive, consider and adopt the audited standalone and consolidated financial statements of the Company for the
financial year ended 31st March, 2015.
2 Re-appointment of Mr. Narang Narang, who retires by rotation
3To approve the interim dividend of 2% (Two percent) per equity share, already paid during the year, for the financial
year ended 31st March 2015 as final dividend.
4 Appointment of M/s Deepak Narang & Associates, Chartered Accountants, as the Statutory Audi tors of the Company
5 Appointment of Ms. Mansi Narang as Director
6
For ratification and taking on record the identity of the ultimate beneficial owner/controller of the unlisted body
corporate allottees to the preferential issue approved by the members in continuation of the resolutions regarding
preferential issue of equity shares passed at the Extra Ordinary General Meeting of the Company held on 25th June
2014 and the Annual General Meeting held on 29th September 2014
138 ANNUAL REPORT 2014-2015