ANNUALREPORT2015-16
REGISTERED OFFICE:
1009 HEMKUNTH, BEHIND LIC OFFICE,
ASHRAM ROAD, AHMEDABAD,
GUJARAT- 380009
� BOARDOFDIRECTORS:
NameofDirector DIN DESIGNATIONMR.ASWINKUMARBAGDAI
03614681 ManagingDirector&CFO
MR.RAJBALDEVSINGHJHALA
03032223 NonExecutiveDirector
MR.DHARMESHSOLANKI 03637136 IndependentDirectorMR.HEMANSHUMEHTA 01843210 IndependentDirectorMR.PRADEEPSWAIN 05116867 NonExecutiveDirectorMR.PRANAVVIJAYSAMPAT
03637046 IndependentDirector
MR.AKASHDESAI 03032020 IndependentDirectorMRS.VASANTINAGDA 06983165 NonExecutiveDirector
� AUDITORS:
PRAFULN.SHAH&CO.CHARTEREDACCOUNTANTS13B,VISHRAMPARKSOCIETY,SUGAMFLATSROAD,OPP.R.C.PATELSCHOOL,VASNA,AHMEDABAD380007
� REGISTRARANDSHARETRANSFERAGENT:M/S.LINKINTIMESHAREREGISTRYPVT.LTDNO.C13,PANNALALSILKMILLSCOMPOUND,LALBAHADURSHASTRIROAD,BHANDUPWEST,MUMBAI,MAHARASHTRA400078Tele:+(91)2225963838,25946970
� STOCKEXCHANGESWHERETHESHARESOFTHECOMPANYARELISTED:
I.BSELIMITED
25THFLOOR,P.J.TOWERS,
DALALSTREET,FORT,
MUMBAI–400001
Notice is hereby given that 21st Annual GeneralMeeting of ATLANTADEVCONLIMITEDwill be held at Regd. Office at 1009, Hemkunth, Behind LIC Office, Ashram Road,Ahmedabad – 380009 on 30th September, 2016 at 10.00 A.M. to transact the followingbusiness: ORDINARYBUSINESS:
1. Toreceive,considerandadopttheFinancialStatementsoftheCompanyfortheyear
endedMarch31,2016,includingtheauditedBalanceSheetasatMarch31,2016,the
Statement ofProfit andLoss for theyearendedon thatdateand the reportsof the
BoardofDirectors(‘theBoard’)andAuditorsthereon.
2. ToappointaDirectorinplaceofMr.PradeepSwain(DIN:05116867),whoretiresby
rotation, in termsofSection152(6)oftheCompaniesAct,2013,andbeingeligible,
offershimselfforreappointment.
3. To ratify the appointment of Auditors and to fix their remuneration and in this
regardspasswithorwithoutmodification(s),thefollowingresolutionasanOrdinary
Resolution:
“RESOLVED THAT pursuant to the provisions of Section 139, 141, 142 and other
applicable provisions, if any, of the Companies Act, 2013, and Rules framed there
under, as amended from time to time, pursuant to recommendation of the Audit
CommitteeofBoardofDirectorsandpursuant to resolutionpassedbymembers at
theAGMheldon30thSeptember,2014,theappointmentof,M/s.PrafulN.Shah&Co.,
CharteredAccountants(FirmRegistrationNo.108057W),asStatutoryAuditorsofthe
company to hold office from the conclusion of this Annual GeneralMeeting till the
conclusionofitsensuringAnnualGeneralMeetingofF.Y.–201617,beandishereby
ratified at such remuneration as may be mutually agreed between the Board of
DirectorsoftheCompanyandtheAuditors.”
PLACE:AHMEDABADBYORDEROFTHEBOARDOFDIRECTORS,DATE:12/08/2016 FOR,ATLANTADEVCONLIMITED Sd/ _________________________
MR.ASHWINBAGDAI
MANAGINGDIRECTOR(DIN 03614681)
NOTES: 1. AMemberentitledtoattendandvoteattheabovemeetingisentitledtoappointa
proxytoattendandvoteinsteadofhimself/herselfandsuchproxyneednotbea
member of the company. Instrument of proxy in order to be effective must be
receivedbythecompanynotlessthan48hoursbeforethemeeting.
2. InformationasrequiredunderRegulation36(3)oftheSEBI(ListingObligationand
Disclosure Requirement) Regulations, 2015 and regarding appointment /
reappointmentofDirectorsisannexedhereto.
3. Pursuant to Section 101 and Section 136 of the Companies Act, 2013 read with
relevantRulesmadethereunder,theNoticeisbeingsenttoallthemembers,whose
namesappearintheRegisterofMembers/ListofBeneficialOwners,receivedfrom
NSDL/CDSLasoncloseofbusinesshoursonFRIDAY,12THAUGUST,2016.The
NoticeisbeingsenttoMembersinelectronicformtotheemailaddressesregistered
with their Depository Participants (in case of electronic shareholding) / the
Company'sRegistrarandShareTransferAgents(incaseofphysicalshareholding).
4. ForMemberswhoseemailIDsarenotregistered,physicalcopiesoftheNoticeare
beingsentbypermittedmode.TheMembersoftheCompanywhohaveregistered
their email address are also entitled to receive such communication in physical
form,uponrequest.
5. PursuanttotheprovisionsofSection91oftheCompaniesAct,2013theRegisterof
MembersandShareTransferBooksoftheCompanywillremainclosed from,24th
September, 2016 to 30th September, 2016 (both days inclusive) in connection
withAGM.
6. Asameasureofeconomy,AnnualReportwillnotbedistributedattheMeeting.So,
members are requested to bring their copy of Annual Report with them to the
AnnualGeneralMeeting.
7. TheNoticeofAGM,AnnualReportandAttendanceSliparebeingsentinelectronic
mode to Members whose email address are registered with the Company or the
DepositoryParticipant(s),unlesstheMembershaveregisteredtheirrequestforthe
hard copy of the same. Physical copy of the Notice of AGM, Annual Report and
Attendance Slip are being sent to those Members who have not registered their
emailaddresswiththeCompanyorDepositoryParticipant(s).Memberswhohave
receivedtheNoticeofAGM,AnnualReportandAttendanceSlipinelectronicmode
arerequestedtoprinttheAttendanceSlipattheRegistrationCounterattheAGM.
8. IncompliancewiththeprovisionsofSection108of theCompaniesAct,2013read
with Rule 20 of the Companies (Management and Administration) Amendment
Rules, 2015 and Clause 35B of Listing Agreement, the Company is providing E
VotingfacilitytoallthememberswhosenamesappearintheRegisterofMembers/
beneficialownersasontheCutOffDatei.e.23RDSEPTEMBER,2016,whomaycast
theirvotebyelectronicmodeonall resolutions in respectofbusiness set forth in
the notice through evoting services provided by CDSL, through their portal
http://www.evotingindia.com in this regard, members are notified that (i) the
companyhas completed thedispatchofNotice throughpermittedmode toall the
membersofthecompanyindividuallyand(ii)votingthroughelectronicmeansshall
commencefrom09.00A.M.on27THSEPTEMBER,2016andendat5:00P.M.on
29THSEPTEMBER,2016.
9. Pleasenotethatevotingisoptional.Incaseamemberhasvotedthroughevoting
facility,he/sheisnotallowedtovoteattheVenueofAnnualGeneralMeeting.
10. The Member who transfers his / her shares before the Cutoff date i.e. 23RD
SEPTEMBER,2016, isnoteligible to vote to theextentof transfermadebyhim/
her,ontheResolutionsmentionedintheNotice.
11. AnypersonwhoacquirestheSharesoftheCompanyafterdispatchoftheNoticeof
the General Meeting and holding the Shares on the Cutoff Date i.e. 23RD
SEPTEMBER, 2016, may request to the Company on registered mail ID of the
[email protected] toobtaintheUserID&Password.
12. The Results of Evoting alongwith the Scrutinizer's Report shall be declared and
placed on the Company's website and on the website of CDSL
https://www.evotingindia.co.inonorbefore6:00P.M.on30THSEPTEMBER,2016
andcommunicatedtotheBSELimitedwherethesharesoftheCompanyarelisted.
Information pursuant to Regulation 36(3) of SEBI (Listing Obligation andDisclosure Requirement) Regulation, 2015with regard to Directors seekingappointment/reappointmentastheforthcomingAnnualGeneralMeeting:
� MR.PRADEEPSWAIN(DIN:05116867)–NONEXECUTIVEDIRECTORMr.PradeepSwainisadirectoroftheCompanyfrom4yearsandhasdiplomamechanicaldegree.Below is a list ofother companies inwhichMr.PradeepSwain is aDirectorandchairman/memberofBoardCommitteesofothercompanies:No. Listofotherdirectorship Chairmanship/Membershipof
CommitteesoftheBoardofothercompanies
1 N.A -
ShareholdingintheCompany:NIL.
THEINSTRUCTIONSFOREVOTING:
SECTIONAEVOTINGPROCESS:
(i) The voting period begins on 27TH SEPTEMBER, 2016 FROM 9:00 A.M. TO 29TH
SEPTEMBER, 2016 at 5:00P.M.During this period shareholders’ of the Company,
holding shareseither inphysical formor indematerialized form, ason the cutoff
date(recorddate)of23RDSEPTEMBER,2016maycasttheirvoteelectronically.The
evotingmoduleshallbedisabledbyCDSLforvotingthereafter.
(ii) Shareholders who have already voted prior to the meeting date would not be
entitledtovoteatthemeetingvenue.
(iii) Theshareholdersshouldlogontotheevotingwebsitewww.evotingindia.com.
(iv) ClickonShareholders.
(v) NowEnteryourUserID.
a. ForCDSL:16digitsbeneficiaryID,
b. ForNSDL:8CharacterDPIDfollowedby8DigitsClientID,
c. Members holding shares in Physical Form should enter Folio Number
registeredwiththeCompany.
(vi) NextentertheImageVerificationasdisplayedandClickonLogin.
(vii) Ifyouareholdingsharesindematformandhadloggedontowww.evotingindia.com
andvotedonanearliervotingofanycompany,thenyourexistingpasswordistobe
used.
(viii) Ifyouareafirsttimeuserfollowthestepsgivenbelow:
ForMembersholdingsharesinDematFormandPhysicalForm
PAN Enter your 10 digit alphanumeric *PAN issued by Income TaxDepartment (Applicable for both demat shareholders as well asphysicalshareholders)
� Members who have not updated their PAN with theCompany/DepositoryParticipantarerequestedtousethefirsttwo letters of their name and the 8 digits of the sequencenumberinthePANfield.
� In case the sequence number is less than 8 digits enter theapplicablenumberof0’sbeforethenumberafterthefirsttwocharactersof thename inCAPITAL letters.Eg. IfyournameisRamesh Kumar with sequence number 1 then enterRA00000001inthePANField.
DividendBankDetailsORDateofBirth(DOB)
Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyyformat)asrecordedinyourdemataccountorinthecompanyrecordsinordertologin.
� If both the details are not recorded with the depository orcompany please enter the member id / folio number in theDividendBankdetailsfieldasmentionedininstruction(v).
(ix) Afterenteringthesedetailsappropriately,clickon“SUBMIT”tab.
(x) Members holding shares in physical form will then directly reach the Company
selectionscreen.However,membersholdingshares indemat formwillnowreach‘Password Creation’ menu wherein they are required to mandatorily enter theirloginpassword in thenewpassword field.Kindlynotethat thispassword is tobealsousedbythedematholdersforvotingforresolutionsofanyothercompanyonwhich they are eligible to vote, provided that company opts for evoting throughCDSL platform. It is strongly recommended not to share your passwordwith anyotherpersonandtakeutmostcaretokeepyourpasswordconfidential.
(xi) ForMembers holding shares in physical form, the details can be used only for evotingontheresolutionscontainedinthisNotice.
(xii) ClickontheEVSNi.e.“160827055”fortherelevantCompanyNamei.e.ATLANTADEVCONLIMITEDonwhichyouchoosetovote.
(xiii) Onthevotingpage,youwillsee“RESOLUTIONDESCRIPTION”andagainstthesametheoption“YES/NO”forvoting.SelecttheoptionYESorNOasdesired.TheoptionYESimpliesthatyouassenttotheResolutionandoptionNOimpliesthatyoudissenttotheResolution.
(xiv) Click on the “RESOLUTIONS FILE LINK” if youwish to view the entireResolutiondetails.
(xv) After selecting the resolution you have decided to vote on, click on “SUBMIT”. Aconfirmationboxwillbedisplayed.Ifyouwishtoconfirmyourvote,clickon“OK”,elsetochangeyourvote,clickon“CANCEL”andaccordinglymodifyyourvote.
(xvi) Onceyou“CONFIRM”yourvoteontheresolution,youwillnotbeallowedtomodifyyourvote.
(xvii) Youcanalsotakeaprintofthevotescastbyclickingon“Clickheretoprint”optionontheVotingpage.
(xviii) IfademataccountholderhasforgottentheloginpasswordthenEntertheUserIDandtheimageverificationcodeandclickonForgotPassword&enterthedetailsaspromptedbythesystem.
(xix) NoteforNon–IndividualShareholdersandCustodians:
� NonIndividual shareholders (i.e. other than Individuals, HUF, NRI etc.) and
Custodianarerequiredtologontowww.evotingindia.comandregisterthemselves
asCorporate.
� Ascanned copyof theRegistrationFormbearing the stampandsignof theentity
� 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)forwhichtheywishtovoteon.
� The list of accounts linked in the login should be mailed to
[email protected] and on approval of the accounts they would be
abletocasttheirvote.
� Ascanned copyof theBoardResolutionandPowerofAttorney (POA)which they
haveissuedinfavouroftheCustodian,ifany,shouldbeuploadedinPDFformatin
thesystemforthescrutinizertoverifythesame.
� In case you have any queries or issues regarding evoting, you may refer theFrequently Asked Questions (“FAQs”) and evoting manual available atwww.evotingindia.com, under help section or write an email [email protected]
SECTION B COMMENCEMENT OF EVOTING PERIOD AND OTHER EVOTING
INSTRUCTIONS:
I TheEVotingperiodcommenceson27THSEPTEMBER,2016(10:00A.M.)and
endson29THSEPTEMBER,2016(5:00P.M.).Duringthisperiodshareholders
of the Company, holding shares either in physical form or in dematerialized
form, as on Cutoff date i.e. 23RD SEPTEMBER, 2016 may cast their vote
electronically.TheeVotingmoduleshallbedisabledforvotingthereafter.Once
thevoteonaresolutioniscastbytheshareholder,theshareholdershallnotbe
allowedtochangeitsubsequently.
ii. The voting rights of shareholders shall be in proportion to their shares of the
PaidUpEquityShareCapitaloftheCompany.
iii.M/SASHAH&ASSOCIATES,PracticingCompanySecretaries(MembershipNo.:
FCS4713;CPNo:6560)(Address:D413,ShiromaniComplex,Opp.OceanPark,
S.M.Road,Satellite,Ahmedabad–380015,Gujarat,India)hasbeenappointedas
theScrutinizertoscrutinizetheeVotingprocess.
iv.TheScrutinizershall,ontheconclusionoftheevotingperiod,unblockthevotes
in the presence of at least two (2) witnesses not in the employment of the
CompanyandmakeaScrutinizer'sReportofthevotescastinfavororagainst,if
anyandsubmitforthwithtotheChairmanoftheCompany.
v.TheResultsshallbedeclaredalongwiththeScrutinizer'sReportshallbeplaced
on the Company's website and on the website of CDSL
https://www.evotingindia.co.in on or before6:00P.M. on30TH SEPTEMBER,
2016andcommunicatedtotheBSELimitedandAhmedabadStockExchangeof
IndiaLimited,wherethesharesoftheCompanyarelisted.
vi.TheresolutionsshallbedeemedtobepassedonthedateoftheAnnualGeneral
Meeting,subjecttoreceiptofsufficientvotes.
vii.ForMembersholdingsharesinphysicalform,thepasswordanddefaultnumber
canbeusedonlyforeVotingontheresolutionsgiveninthenotice.
viii. Institutional Shareholders (i.e. other than individuals, HUF, NRI etc.) are
requiredtologontohttps://www.evotingindia.co.inandregisterthemselvesas
Corporates, link theiraccountwhich theywish tovoteonand thencast their
vote.TheyshouldsubmitascannedcopyoftheRegistrationFormbearingthe
stamp and sign of the entity to [email protected]. They should
alsouploadascannedcopyoftheBoardResolution/PowerofAttorney(POA)
which theyhave issued in favorof theCustodian, if any, inPDF format in the
systemforthescrutinizertoverifythevote.
ix. You can also update yourmobile number and Email ID in the user profile
detailsofthefoliowhichmaybeusedforsendingcommunication(s)regarding
CDSL eVoting system in future. The samemay be used in case the Member
forgetsthepasswordandthesameneedstobereset.
x.TheMembersarerequestedtopayattentiontothematterthatoncehe/shehas
exercisedhis/herrightthenhe/sheshallnotbeallowedtochangehis/her
votesubsequentlyinanycase.
xi. In caseyouhaveanyqueriesor issues regardingeVoting, youmay refer the
Frequently Asked Questions (“FAQs”) and eVoting manual available at
www.evotingindia.com under help section or write an email to
DIRECTORS'REPORTTo,TheMembers,ATLANTADEVCONLIMITED
YourDirectorshavepleasure inpresenting their21stAnnualReporton thebusinessandoperationsoftheCompanyandtheaccountsfortheFinancialYearendedMarch31,2016.
1. FINANCIALSUMMARYOFTHECOMPANY(Standalone)
TheBoard’sReportistobepreparedbasedonthestandalonefinancialstatementsofthecompany.
(Rs.inlacs)PARTICULARS 201516 201415
Incomefortheyear 0 0ExpenditurefortheyearexcludingDepreciationandAmortizationExp.
2.78 5.19
ProfitorLossbeforeDepreciationandAmortizationExp.
(2.78) (5.19)
Less:DepreciationandAmortizationExp. 0 0ProfitorLossafterDepreciationandAmortizationExp.ButbeforeTax
(2.78) (5.19)
Less:CurrentTax 0 0ProfitorLossAfterTax (2.78) (5.19)
TheCompanyhasnotcarriedanycommercialactivitiesduringthefinancialyear201516.Thecompanywilltrytoachievetheperformanceintermsofturnoverwellasprofitinnextyearbymakingmoreinitiativeintheactivitiesofthecompany.
2. DIVIDEND:
Withaviewtoenlarge thebusinessoperationsoftheCompany, thedirectorsdidnotrecommendanyDividendfortheYearunderreview.
3. DIRECTORSANDKEYMANAGERIALPERSONNEL:Mr.Pradeep Swain, Director of the Company retires by rotation at the forthcomingAnnualGeneralMeetingandbeingeligible,offerthemforreappointment.The Company has received declarations from all the Independent Directors of theCompany confirming that theymeetwith the criteria of independence as prescribedundersubsection6ofSection149of theCompaniesAct,2013andunderRegulation16(b)ofSEBI(ListingObligationandDisclosureRequirement)Regulations,2015.
4. MEETINGS:
DuringtheyearfourBoardMeetingsandsixAuditCommitteeMeetingswereconvenedandheld.ThedatesonwhichthesaidBoardmeetingswereheld: May13,2015,August14,2015,November06,2015&February08,2016.TheinterveninggapbetweentheMeetingswaswithintheperiodprescribedundertheCompaniesAct,2013.
5. COMMITTEES:
The company has several committees which have been established as a part of bestcorporate governance practices and are in compliance with the requirements of therelevantprovisionsofapplicablelawsandstatues.TheBoardhasconstitutedfollowingCommittees.� AuditCommittee� NominationandRemunerationCommittee� Stakeholder’sRelationshipCommitteeThedetailswithrespect tothecompositions,powers,roles, termsofreferenceetc.ofrelevantcommitteesaregivenindetailinthe‘ReportonCorporateGovernance’ofthecompanywhichformspartofthisAnnualReport.
6. EXTRACTSOFANNUALRETURN:
Pursuant to subsection 3(a) of Section 134 and subsection (3) of Section 92 of theCompanies Act 2013, read with Rule 12 of the Companies (Management andAdministration) Rules, 2014 the extracts of the Annual Return as at March 31, 2016formspartofthisreportas“AnnexureI”.
7. STATUTORYAUDITORS:M/s. Praful N. Shah & Co, (Firm Registration No. 108057W), Chartered Accountants,have been appointed as statutory auditors of the company at the Annual GeneralMeetingheldonSeptember30,2014toholdofficefromtheconclusionof19thAnnualGeneralMeeting(AGM)tillconclusionof22ndAnnualGeneralMeeting(AGM),subjecttoratification by the shareholders annually. Accordingly, ratification of appointment ofStatutory Auditors is being sought from the members of the company at the ensuingAGM. In this regard, the Company has received a certificate from the auditors to theeffectthatiftheirappointmentisratified,itwouldbeinaccordancewiththeprovisions
of Section 141 of the Companies Act, 2013.Auditors comments on your company’saccounts for year ended March 31, 2016 are self explanatory in nature and do notrequire any explanation as per provisions ofSection 134(3)(f) of the Companies Act,2013.
There were no qualifications, reservation or adverse remark or disclaimer made byStatutoryAuditorinitsreport.
8. SECRETARIALAUDITORSANDSECRETARIALAUDITREPORT:
PursuanttoSection204oftheCompaniesAct,2013,yourcompanyhadappointedM/s.A. Shah & Associates, Practicing Company Secretaries, Ahmedabad, as its SecretarialAuditorstoconducttheSecretarialAuditofthecompanyforFY201516.TheReportoftheSecretarialAuditorfortheFY201516isannexedtothisreportas“AnnexureII”.SecretarialAuditorshave qualified their report to theMembersof the Company& inthisconnection;theBoardofDirectorsoftheCompanyhasdiscussedthesameatarm’slengthandagreedtotakethecorrectivestepsonfollowingQualifications:1. Companyhasnot executed Fresh ListingAgreementwithBSE as stipulated in
Regulation 109 of the Securities and Exchange Board of India (Listing
ObligationandDisclosureRequirement)Regulation,2015.
2. Company has not complied with Regulation 29 of the Securities and Exchange
BoardofIndia(ListingObligationandDisclosureRequirement)Regulation,2015and
clause 41(III) of the erstwhile Listing agreement for all the quarters of the
financialyear201516.
3. The Company is not in compliance with Pursuant to Section 203 (1) (ii) for
appointment of Company Secretary asKeyManagerial Personnel for the financial
year201516andasperRegulation6(2)ofTheSecuritiesandExchangeBoardof
India(ListingObligationandDisclosureRequirement)Regulation,2015andClause
47(a) of erstwhile Listing Agreement for appointment of Company Secretary as
complianceofficerforthefinancialyear201516.
4. Company is yet to comply with the section 138 of the Companies Act, 2013 i.e.
InternalAuditorneedstobeappointedtoconducttheinternalauditofthefunctions
andactivitiesofthecompany.
5. TheCompanyisyettocomplywithRegulation31(2)ofTheSecuritiesandExchange
Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015
for maintaining hundred percent of shareholding of promoter(s) and promoter
groupindematerializedform.
6. TheCompanyisyettocomplywithRegulation33(d)ofTheSecuritiesandExchange
Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015
and Clause 41 (1) (h) of erstwhile Listing Agreement regarding submission of
quarterly/yearly basis financial results by auditor who holds valid peer review
certificateissuedbyInstituteofCharteredAccountantsinIndia.
7. The Company is yet to complywithRegulation46 of The Securities and Exchange
Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015
andClause54oferstwhileListingAgreementregardingmaintainingaFunctional
Websitefordisseminatinginformationtoshareholders.
8. Company has not provided book closure notice pursuant to section 91 ofCompaniesAct,2013.
9. The company is yet to comply with Regulation 9, 16(c), 17(9) (b), 30(5) of The
Securities and Exchange Board of India (Listing Obligation and Disclosure
Requirement)Regulation,2015.
10. TheCompanyhasnotcompliedwithSection136andSection101oftheCompanies
Act,Regulation36ofTheSecuritiesandExchangeBoardofIndia(ListingObligation
and Disclosure Requirement) Regulation, 2015 and Clause 32 of erstwhile Listing
Agreementregardingsendingtheannualreportof201516toeverymemberofthe
company.
9. INTERNALFINANCIALCONTROLS:
Yourcompanyhad laiddownsetofstandards,processesandstructurewhichenablesto implement internal financial control across the organization and ensure that thesameareadequateandoperatingeffectively.
10. BOARDEVALUATION:
TheBoardofDirectorshas carried out an annual evaluation of its ownperformance,BoardcommitteesandindividualdirectorspursuanttotheprovisionsoftheCompanies
Act,2013andthecorporategovernancerequirementsasprescribedbySecuritiesandExchangeBoardofIndia(“SEBI”)underRegulation17,18,19,20,21,22,23,24,25,26,27andclauses(b) to(i)ofsubregulation(2)ofregulation46andparaC,DandEofScheduleVofSEBI(ListingObligationandDisclosureRequirement)Regulation2015.
TheperformanceoftheBoardwasevaluatedbytheBoardafterseekinginputsfromallthedirectorsonthebasisofthecriteriasuchastheBoardcompositionandstructure,effectivenessofboardprocesses,informationandfunctioning,etc.Theperformanceof the committeeswas evaluatedby theboard after seeking inputsfrom the committeemembers on the basis of the criteria such as the compositionofcommittees,effectivenessofcommitteemeetings,etc.The Board and the Nomination and Remuneration Committee (“NRC”) reviewed theperformance of the individual directors on the basis of the criteria such as thecontribution of the individual director to the Board and committee meetings likepreparednesson the issuestobediscussed,meaningfulandconstructivecontributionand inputs inmeetings, etc. In addition, the Chairmanwas also evaluated on the keyaspectsofhisrole.In a separate meeting of independent Directors, performance of nonindependentdirectors,performanceoftheboardasawholeandperformanceoftheChairmanwasevaluated, taking into account the views of executive directors and nonexecutivedirectors.The samewasdiscussed in theboardmeeting that followed themeetingoftheindependentDirectors,atwhichtheperformanceoftheBoard,itscommitteesandindividualdirectorswasalsodiscussed.
11. FIXEDDEPOSITS:Your company has not accepted any fixed deposits from the public within theprovisionsofSection73to76oftheCompaniesAct,2013.However,thecompanyhasaccepted unsecured loan from director which is exempt as per Section 73 of theCompaniesAct,2013.Hence, thedisclosures requiredasperRule8(5)(v)&(vi)of theCompanies (Accounts)Rules,2014, readwith Section73 to76of theCompaniesAct,2013arenotapplicabletoyourCompany.
12. CORPORATEGOVERNANCE: TheCompanybelievesthatgoodCorporateGovernanceisacontinuousprocessanditisour continuous endeavor to achieve good governance, by way of a conscious and
conscientious effort whereby ensuring the truth, transparency, accountability andresponsibilityinallourdealingswithallourstakeholders.AseparatesectiononCorporateGovernanceStandards followedbyyourcompany,asstipulatedunderRegulation34(3)readwithScheduleVofSEBI(ListingObligationandDisclosureRequirement)Regulation2015isenclosedasAnnexuretothisReport.TheReport on Corporate Governance also contains certain disclosures required underCompaniesAct,2013. A certificate from M/s. Praful N. Shah & Co., Chartered Accountants, conformingcompliancetotheconditionsofCorporateGovernanceasstipulatedunderRegulation17,18,19,20,21,22,23,24,25,26,27andclauses(b) to(i)ofsubregulation(2)ofregulation 46 and para C, D and E of Schedule V of SEBI (Listing Obligation andDisclosureRequirement)Regulation2015,isannexedtothisReport.
13. VIGILMECHANISM:
Inpursuanttotheprovisionsofsection177(9)&(10)oftheCompaniesAct,2013,andRegulation22oftheSEBI(ListingObligationandDisclosureRequirement)Regulations,2015, aVigilMechanism fordirectorsand employees to reportgenuine concernshasbeenestablished.
14. CONSEVATIONOFENERGY&ABSORTIONTECHNOLOGY:
(a)Conservationofenergy
(i) thestepstakenorimpactonconservationofenergy
N.A
(ii) thestepstakenbythecompanyforutilizingalternatesourcesofenergy
N.A
(iii) thecapitalinvestmentonenergyconservationequipment’s
N.A
(b)Technologyabsorption
(i) theeffortsmadetowardstechnologyabsorption N.A(ii) thebenefitsderivedlikeproductimprovement,
costreduction,productdevelopmentorimportsubstitution
N.A
(iii) incaseofimportedtechnology(importedduringthelastthreeyearsreckonedfromthebeginningofthefinancialyear)
N.A
(a)thedetailsoftechnologyimported N.A
(b)theyearofimport; N.A
(c)whetherthetechnologybeenfullyabsorbed N.A
(d)ifnotfullyabsorbed,areaswhereabsorptionhasnottakenplace,andthereasonsthereof
N.A
(iv) theexpenditureincurredonResearchandDevelopment
N.A
15. FOREIGNEXCHANGEEARNINGS/OUTGO:-
As the Company has not carried out any activities relating to the export and importduring the financial year. There is no foreign exchange expenses and foreign incomeduringthefinancialyear.
16. PARTICULARSOFCONTRACTSORARRANGEMENTSWITHRELATEDPARTIES:
Duringthefinancialyear201516therewerenocontractandarrangementdonewiththe related parties. The policy on material Related Party Transactions and also ondealingwithRelatedPartyTransactionsisapprovedbytheAuditCommitteeandtheBoardofDirectors.
The details of every contract or arrangements entered into by the Company withrelatedpartiesasrequiredundersubsection(1)ofsection188oftheCompaniesAct,2013isdisclosedinFormNo.AOC2.“AnnexureIV”.
17. PARTICULARSOFLOANS,GUARANTEESORINVESTMENTSUNDERSECTION186:
In terms of provisions of Section 134(3)(g), the Particulars of Loans, Guarantees orInvestmentsunderSection186,isannexedheretoas“AnnexureV”andformspartofthisReport.
18. PARTICULARSOFEMPLOYEESREMUNERATION:A. The ratio of the remuneration of each director to the median employee’s
remuneration and other details in terms of subsection 12 of Section 197, of theCompanies Act, 2013 read with Rule 5(1) of the Companies (Appointment andRemunerationofManagerialPersonnel)Rules,2014,areformingpartofthisreportas“AnnexureVI”.
B. The statement containing particulars of employees as required under Section197(12) of the Companies Act, 2013 read with Rule 5(2) of the Companies(Appointment and Remuneration of Managerial Personnel) Rules, 2014 is notprovidedasnoemployeesispaidremunerationofRs.5LacPermonthandRs.60LacsPerAnnum.
19. NOMINATIONANDREMUNERATIONPOLICY:The Board has on the recommendation of Nomination and Remuneration /CompensationCommitteeframedapolicyondirectors’appointmentandremunerationof Directors including criteria for determining qualification, positive attributes,independenceofdirectorsand remuneration forDirectors,KeyManagerialPersonnelandotheremployees.Thepolicyisannexedtothisreportas“AnnexureVII”.
20. HUMANRESOURCES:YourCompany treats its “humanresources”asoneof itsmost significantassets.TheCompanycontinuesitsfocusonretentionthroughemployeeengagementinitiativesandprovides a holistic environment where employees get opportunities to realize theirpotential. A numberof programs thatprovide focused people attention are currentlyunderway. Your Company thrust is on the promotion of talent internally through jobrotation and job enlargement. The Company’s Health and Safety Policy commits toprovideahealthyandsafeworkenvironmenttoallemployees.
21. CORPORATESOCIALRESPONSIBILITY(CSR)
Thecompanydoesnotfallunderthepurviewofthesection135oftheCompaniesAct,2013 which requires formulating a Corporate Social Responsibility Committee andadoptinganyactivities as specified inScheduleVII. HoweverasperSection135, thedisclosureofReportonCSRactivityisannexedasAnnexureVII
22. CHANGEINNATUREOFTHEBUSINESS:
There has been no change in the nature of business of the company during the yearunderreview.
23. MANAGEMENTDISCUSSIONANDANALYSIS:
Aspercorporategovernancenorms,aseparatesectiononManagementDiscussionandAnalysisoutliningthebusinessoftheCompanyissetoutinAnnexureformingpartofthisReport.
24. SIGNIFICANTORMATERIALORDERSAGAINSTCOMPANY:
NosignificantandmaterialorderswerepassedbytheregulatorsorcourtsortribunalsimpactingthegoingconcernstatusandCompany’soperationinfuture.
25. DIRECTORS’RESPONSIBILITYSTATEMENT:
Pursuanttorequirementunder134(3)(c)andSection134(5)oftheCompaniesAct,2013(Act),Directors,confirmthat:
(a) Inthepreparationof theannualaccounts for theyearendedon31stMarch,2016,theapplicableaccountingstandardsreadwithrequirementsetoutunderScheduleIII to the Act, have been followed and there are nomaterial departures from thesame;
(b) TheDirectorshaveselectedsuchaccountingpoliciesandappliedthemconsistentlyandmadejudgmentsandestimatesthatarereasonableandprudentsoastogiveatrueandfairviewofthestateofaffairsofthecompanyasatMarch31,2016andoftheprofitofthecompanyfortheyearendedonthatdate;
(c) TheDirectorshavetakenproperandsufficientcareforthemaintenanceofadequateaccountingrecordsinaccordancewiththeprovisionsoftheActforsafeguardingtheassets of the company and for preventing and detecting fraud and otherirregularities;
(d) TheDirectorshadpreparedtheannualaccountsonagoingconcernbasis;
(e) The Directors, had laid down internal financial controls to be followed by thecompanyand that such internal financial controls areadequate andareoperatingeffectivelyand
(f) TheDirectorshaddevisedpropersystemstoensurecompliancewiththeprovisionsofallapplicablelawsandthatsuchsystemsareadequateandoperatingeffectively.
26. ACKNOWLEDGEMENT:
YourDirectorswishtoplaceonrecordtheirgratitudeandsincereappreciationfortheassistanceandcooperationreceivedfromthefinancialinstitutions,banks,Governmentauthorities,customers,vendorsandmembersduringtheyearunderreview.
Your Directors would like to express a profound sense of appreciation for thecommitment shown by the employees in supporting the Company in its continuedrobustperformanceonallfronts.
PLACE:AHMEDABAD BYORDEROFTHEBOARDOFDIRECTORS,DATE:12/08/2016 FOR,ATLANTADEVCONLIMITED Sd/
_________________________MR.ASHWINBAGDAI MANAGINGDIRECTOR(DIN03614681)
ANNEXUREI
FORMNO.MGT9
EXTRACTOFANNUALRETURN
Asonfinancialyearendedon31.03.2016
PursuanttoSection92(3)oftheCompaniesAct,2013andrule12(1)oftheCompany(Management&Administration)Rules,2014.
I. REGISTRATION&OTHERDETAILS:1. CIN L45200GJ1994PLC061328
2. RegistrationDate 05/04/1994
3. NameoftheCompany ATLANTADEVCONLIMITED
4. Category/SubcategoryoftheCompany
COMPANYLIMITEDBYSHARES/INDIANNONGOVERNMENTCOMPANY
5. AddressoftheRegisteredoffice&contactdetails
1009HEMKUNTH,BEHINDLICOFFICE,ASHRAMROAD,AHMEDABAD,GUJARAT,INDIA–380009MOBILENO:9426456144EMAIL:[email protected]
6. Whetherlistedcompany BSELIMITED
7. Name,Address&contactdetailsoftheRegistrar&TransferAgent,ifany.
M/S.LINKINTIMESHAREREGISTRYPVT.LTD.NO.C13,PANNALALSILKMILLSCOMPOUND,LALBAHADURSHASTRIROAD,BHANDUPWEST,MUMBAI,MAHARASHTRA400078Tele:+(91)2225963838,25946970
II. PRINCIPALBUSINESSACTIVITIESOFTHECOMPANY(Allthebusinessactivitiescontributing
10%ormoreofthetotalturnoverofthecompanyshallbestated)
Sr.No.
NameandDescriptionofmainproducts/services
NICCodeoftheProduct/service
%tototalturnoverofthecompany
1 N.A N.A N.A
Note:CompanyhasnottransactedanycommercialBusinessduringtheyear.
VI.SHAREHOLDINGPATTERN(EquityShareCapitalBreakupaspercentageofTotalEquity)
Categorywise ShareHolding
Category of
Shareholder
No. of Shares held at the beginning of the
year
(as on April 1, 2015 i.e. on the basis of SHP of
March 31, 2015)
No. of Shares held at the end of the year
(as on March 31, 2016 i.e. on the basis of SHP of
March 31, 2016)
%
Chang
e
during
the
year Demat Physical Total
% of
Total
Shares
Demat Physical Total
% of
Total
Shares
A.
Promoters/Prom
oters Group
(1) Indian
a) Individual/HUF 362427 1206000 1568427 11.15 362427 1206000 1568427 11.15
b) Central Govt.
c) State Govt.(s)
d) Bodies
Corporate
e) Banks / FI
f) Any Other
Subtotal(A)(1): 362427 1206000 1568427 11.15 362427 1206000 1568427 11.15
(2) Foreign
a) NRIs –
Individuals
b) Other –
Individuals
c) Bodies Corp.
d) Banks / FI
e) Any Other....
Subtotal:(A) (2):
Total
shareholding of
Promoter (A)
=(A)(1)+(A)(2)
362427 1206000 1568427 11.15 362427 1206000 1568427 11.15
B. Public
Shareholding
1. Institutions
a) Mutual Funds
b) Banks / FI
c) Central Govt.
d) State Govt.(s)
e) Venture
Capital Funds
f) Insurance
Companies
g) FIIs
h)Foreign
Venture Capital
Funds
i) Others (specify)
i1) Foreign
Financial
Institution
i2) Trust
Subtotal (B)(1):
2.NonInstitution
s
a) Bodies
Corporate
i) Indian 4238417 24428 4262845 30.31 4200211 24428 4224639 30.04 0.27
ii) Overseas
b) Individuals
i) Individual
shareholders
holding nominal
share capital upto
Rs. 1 lakh
383262 377066 760328 5.40 893678 375736 1269414 9.03 +3.63
ii) Individual
shareholders
holding nominal
share capital in
excess of Rs 1
lakh
6184534 62720 6247254 44.42 5633068 61670 5694738 40.49 3.93
c) Others (specify)
Non Resident
Indians (Repat)
2210 2210 0.01 2210 2210 0.01
Non Resident
Indians (Non
Repat)
70 70 0.00 70 70 0.00
HUF 1154178 1154178 8.21 1240211 1240211 8.81 +0.6
Clearing
Members
68737 68737 0.49 64340 64340 0.46 0.03
Subtotal (B)(2): 12031408 464214 12495622 88.85 12033788 461834 12495622 88.85
Total Public
Shareholding
(B)=(B)(1)+(B)(2)
12031408 464214 12495622 88.85 12033788 461834 12495622 88.85
C. Shares held by
Custodian for
GDRs & ADRs (C)
Grand Total
(A+B+C)
12393835 1670214 14064049 100 12396215 1667834 14064049 100
B)ShareholdingofPromoter
SNShareholder’s
Name
Shareholdingatthebeginningoftheyear(asonApril1,2015i.e.onthebasisofSHPofMarch31,2015)
Shareholdingattheendoftheyear(as on March
31, 2016 i.e. on the basis of SHP of March 31, 2016)%changeinshareholdingduringtheyear
No.ofShares
%oftotalSharesofthe
company
%ofSharesPledged/encumberedtototalshares
No.ofShares
%oftotalSharesofthecompany
%ofSharesPledged/encumberedtototalshares
1 SARUNKUMAR
372047 2.65 372047 2.65
2 SWETHAS 315000 2.24 315000 2.24
3 RAJSURANA 518953 3.69 518953 3.69
4 K.SHIRAJ 202531 1.44 202531 1.44
5 RAJBALDEVSINHJHALA
159896 1.14 159896 1.14
C)ChangeinPromoters’Shareholding(pleasespecify,ifthereisnochange)
SN Particulars Shareholdingatthebeginningoftheyear
CumulativeShareholdingduringtheyear
No.ofshares
%oftotal
sharesofthe
company
No.ofshares
%oftotal
sharesofthe
company
Atthebeginningoftheyear NoChanges
Date wise Increase / Decrease inPromoters Shareholding during theyear specifying the reasons forincrease / decrease (e.g. allotment/transfer / bonus/ sweat equityetc.):
NoChanges
Attheendoftheyear NoChanges
D)ShareholdingPatternoftoptenShareholders:
(OtherthanDirectors,PromotersandHoldersofGDRsandADRs):
Sr.No.
NameoftheShareholder
Date
Reason(ifanyincrease/decreaseduringthe
year)
Shareholdingatthebeginningoftheyear
CumulativeShareholdingduringthe
yearNo.ofshares
%oftotal
sharesofthe
company
No.ofshares
%oftotal
sharesofthe
company1. KRSIHNACAP
SHAREPRIVATELIMITED
01/04/2015 Atthebeginningoftheyear
1812500 12.89 1812500 12.89
31/03/2016 Attheendoftheyear
1812500 12.89
2. AYODHYAPATIINVESTMENTPVTLTD
01/04/2015 Atthebeginningoftheyear
440564 3.13 440564 3.13
31/03/2016 Attheendoftheyear
440564 3.13
3. ANILBHAIAMRUTLALGANDHI(HUF)
01/04/2015 Atthebeginningoftheyear 427920 3.04 427920 3.04
31/03/2016 Attheendoftheyear
427920 3.04
4. PARIANILGANDHI
01/04/2015 Atthebeginningoftheyear 423993 3.01 423993 3.01
31/03/2016 Attheendoftheyear
423993 3.01
5. KADVANISECURITIESLIMITED
01/04/2015 Atthebeginningoftheyear
413641 2.94 413641 2.94
31/03/2016 Attheendoftheyear
413641 2.94
6. OMEDUCATION(IT)PRIVATELIMITED
01/04/2015 Atthebeginningoftheyear
402145 2.86 402145 2.86
31/03/2016 Attheendoftheyear
402145 2.86
7. HARESHKUMARLALITBHAI
TEJANI
01/04/2015 Atthebeginningoftheyear
367035 2.61 367035 2.61
31/03/2016 Attheendoftheyear
367035 2.61
8. PERSILCOIMPEXLTD
01/04/2015 Atthebeginningoftheyear
334432 2.38 334432 2.38
31/03/2016 Attheendoftheyear
334432 2.38
9. AMRUTSECURITIESLIMITED
01/04/2015 Atthebeginningoftheyear 332199 2.36 332199 2.36
31/03/2016 Attheendoftheyear
332199 2.36
10. DIPTISHAILESHPAREKH
01/04/2015 Atthebeginningoftheyear 250000 1.78 250000 1.78
Attheendoftheyear
250000 1.78
11. PARESHCHAMANLAL
DOSHI
31/03/2016 Atthebeginningoftheyear
244181 1.74 244181 1.74
Attheendoftheyear
244181 1.74
E)ShareholdingofDirectorsandKeyManagerialPersonnel:
Sr.No.
NameoftheDirectorand
KeyManagerialPersonnel
Date
Reason(ifanyincrease/decreaseduringthe
year)
Shareholdingatthebeginningoftheyear
CumulativeShareholdingduringthe
yearNo.ofshares
%oftotalsharesof
thecompany
No.ofshares
%oftotal
sharesofthe
company1. ASHWIN
BAGDAI(M.D&CFO)
01/04/2015
Atthebeginningoftheyear
31/03/2016
Attheendoftheyear
2. AKASHDESAI(I.D)
01/04/2015
Atthebeginningoftheyear
31/03/2016
Attheendoftheyear
3. PRANAVSAMPAT(I.D)
01/04/2015
Atthebeginningoftheyear
31/03/2016
Attheendoftheyear
4. DHARMESHSOLANKI(I.D)
01/04/2015
Atthebeginningoftheyear
31/03/2016
Attheendoftheyear
5. VASANTI NAGDA(DIRECTOR)
01/04/2015
Atthebeginningoftheyear
31/03/2016
Attheendoftheyear
6. PRADEEP SWAIN(DIRECTOR)
01/04/2015
Atthebeginningoftheyear
31/03/2016
Attheendoftheyear
7. HEMANSHUMEHTA(I.D)
01/04/2015
Atthebeginningoftheyear
31/03/2016
Attheendoftheyear
8. RAJJHALA(DIRECTOR)
01/04/2015
Atthebeginningoftheyear 159896 1.14
31/03/2016
Attheendoftheyear 159896 1.14
F) INDEBTEDNESS Indebtedness of the Company including interest outstanding/accrued but notdueforpayment.
Particulars
SecuredLoansexcludingdeposits
UnsecuredLoans
DepositsTotalIndebtedness
Indebtednessatthebeginningofthefinancialyear
i)PrincipalAmount 0 11548000 0 11548000
ii)Interestduebutnotpaid 0 0 0 0
iii)Interestaccruedbutnotdue 0 0 0 0
Total(i+ii+iii)A 0 11548000 0 11548000
ChangeinIndebtednessduringthefinancialyear
*Addition 0 261000 261000
*Reduction 0 0 0
NetChangeB
Indebtednessattheendofthefinancialyear
0 0 0 0
i)PrincipalAmount 0 11809000 0 11809000
ii)Interestduebutnotpaid 0 0 0 0
iii)Interestaccruedbutnotdue 0 0 0 0
Total(i+ii+iii)C 0 11809000 0 11809000
XI.REMUNERATIONOFDIRECTORSANDKEYMANAGERIALPERSONNEL
A.RemunerationtoManagingDirector,WholetimeDirectorsand/orManager:
Sr.No
ParticularsofRemuneration
NameofMD/WTD/Manager
TotalAmount
MR.ASHWINBAGDAIMANAGINGDIRECTOR
1 Grosssalary N.A N.A
(a)Salaryasperprovisionscontainedinsection17(1)oftheIncometaxAct,1961
N.A N.A
(b)Valueofperquisitesu/s17(2)IncometaxAct,1961
N.A N.A
(c)Profitsinlieuofsalaryundersection17(3)IncometaxAct,1961
N.A N.A
2 StockOption N.A N.A
3 SweatEquity N.A N.A
4 Commissionas%ofprofit
N.A N.A
5 Others,pleasespecify
N.A N.A
Total(A)
N.A N.A
CEILINGASPERTHEACT
NIL
B.Remunerationtootherdirectors
1.IndependentDirectors
2.OtherNonExecutiveDirectors
Sr.No.
ParticularsofRemuneration
NameofDirector TotalAmtMr.Akash
DesaiMr.
DharmeshSolanki
Mr.Hemanshu
Mehta
Mr.PranavSampat
1 FeeforattendingBoard/Committeemeetings(inRs.)
2 Commission 3 Others,
pleasespecify
4 TOTAL(B1)
Sr.No.
ParticularsofRemuneration
Total Amt
Mr. Pradeep Swain
Mrs. Vasanti Nagda
Mr. Raj. Jhala
FeeforattendingBoard/Committeemeetings(inRs.)
-
Commission - Others,
pleasespecify -
TOTAL(B2) - TOTALB=B(1)+B(2) -
TOTALMANAGERIALREMUNERATION -
NIL
C.REMUNERATIONTOKEYMANAGERIALPERSONNELOTHERTHANMD/MANAGER/WTD
SR.NO
ParticularsofRemuneration
KeyManagerialPersonnel
CFOMR.ASHWINBAGDAI
Total
1 Grosssalary N.A NIL
(a)Salaryasperprovisionscontainedinsection17(1)oftheIncometaxAct,1961
N.A NIL
(b)Valueofperquisitesu/s17(2)IncometaxAct,1961
N.A NIL
(c)Profitsinlieuofsalaryundersection17(3)IncometaxAct,1961
N.A NIL
2 StockOption N.A NIL
3 SweatEquity N.A NIL
4 Commission N.A NIL
as%ofprofit N.A NIL
5 Others,pleasespecify N.A NIL
Total N.A NIL
XII.PENALTIES/PUNISHMENT/COMPOUNDINGOFOFFENCES:
PLACE:AHMEDABAD BYORDEROFTHEBOARDOFDIRECTORS,DATE:12/08/2016FOR,ATLANTADEVCONLIMITED Sd/ _________________________
MR.ASHWINBAGDAI MANAGINGDIRECTOR(DIN03614681)
Type
SectionoftheCompaniesAct
BriefDescription
DetailsofPenalty/Punishment/Compoundingfeesimposed
Authority[RD/NCLT/COURT]
Appealmade,ifany(giveDetails)
A.COMPANYPenalty
NOTAPPLICABLEPunishmentCompoundingB.DIRECTORSPenalty
NOTAPPLICABLEPunishmentCompoundingC.OTHEROFFICERSINDEFAULTPenalty
NOTAPPLICABLEPunishmentCompounding
ANNEXUREII
SECRETARIALAUDITREPORT
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies(AppointmentandRemunerationPersonnel)Rules,2014]
FORTHEFINANCIALYEARENDEDASON31STMARCH,2016
To,TheMembers,ATLANTADEVCONLIMITEDWe have conducted the secretarial audit of the compliance of applicable statutory
provisions and the adherence to good corporate practices by M/S ATLANTA DEVCON
LIMITED(Hereinaftercalled thecompany).SecretarialAuditwasconducted inamanner
that provided us a reasonable basis for evaluating the corporate conducts/statutory
compliancesandexpressingmyopinionthereon.
BasedonourverificationoftheM/SATLANTADEVCONLIMITED(books,papers,minute
books,formsandreturnsfiledandotherrecordsmaintainedbythecompanyandalsothe
informationprovidedbytheCompany, itsofficers,agentsandauthorizedrepresentatives
duringtheconductofsecretarialaudit,Weherebyreportthatinouropinion,thecompany
has, during the audit period covering the financial year ended on 31ST MARCH, 2016
compliedwith the statutory provisions listed hereunder and also that the Company has
properBoardprocessesandcompliancemechanisminplacetotheextent,inthemanner
andsubjecttothereportingmadehereinafter:
We have examined the books, papers, minute books, forms and returns filed and other
recordsmaintainedbyM/SATLANTADEVCONLIMITEDfor the financialyearendedon
31STMARCH,2016accordingtotheprovisionsof:
(i)TheCompaniesAct,2013(theAct)andtherulesmadethereunder;
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made there
under;
(iii)TheDepositoriesAct,1996andtheRegulationsandByelawsframedthereunder;
(iv)Foreign Exchange Management Act, 1999 and the rules and regulations made there
undertotheextentofForeignDirectInvestment,OverseasDirectInvestmentandExternal
CommercialBorrowings;
(v)ThefollowingRegulationsandGuidelinesprescribedundertheSecuritiesandExchange
BoardofIndiaAct,1992(‘SEBIAct’):
(a) TheSecuritiesandExchangeBoardofIndia(ListingObligationandDisclosure
Requirement)Regulation,2015;
(b) TheSecuritiesandExchangeBoardofIndia(SubstantialAcquisitionofSharesand
Takeovers)Regulations,2011;
(c) TheSecuritiesandExchangeBoardofIndia(ProhibitionofInsiderTrading)
Regulations,1992;
(d) The Securities and Exchange Board of India (Issue of Capital and Disclosure
Requirements)Regulations,2009;
(e) TheSecuritiesandExchangeBoardof India (EmployeeStockOptionSchemeand
EmployeeStockPurchaseScheme)Guidelines,1999;
(f) TheSecuritiesandExchangeBoardof India(IssueandListingofDebtSecurities)
Regulations,2008;
(g) The Securities and Exchange Board of India (Registrars to an Issue and Share
TransferAgents)Regulations,1993regardingtheCompaniesActanddealingwith
client;
(h) The Securities and Exchange Board of India (Delisting of Equity Shares)
Regulations,2009;and
(i) The Securities and ExchangeBoard of India (Buyback of Securities) Regulations,
1998;
(vi)NootherspecificlawsareapplicabletotheCompany,ascompanyhasnottransactedanycommercialbusinessactivityduringfinancialyear201516.
Wehavealsoexaminedcompliancewiththeapplicableclausesofthefollowing:
I. SecretarialStandardsissuedbyTheInstituteofCompanySecretariesofIndia.
II. TheListingAgreementsenteredintobytheCompanywithBSELimited.
DuringtheperiodunderreviewtheCompanyhascompliedwiththeprovisionsofthe
abovementionedAct,Rules,Regulations,Guidelines,Standards,etc.subjecttothe
followingobservations:
1. Companyhasnot executed Fresh ListingAgreementwithBSE as stipulated in
Regulation 109 of the Securities and Exchange Board of India (Listing
ObligationandDisclosureRequirement)Regulation,2015.
2. Company has not complied with Regulation 29 of the Securities and Exchange
BoardofIndia(ListingObligationandDisclosureRequirement)Regulation,2015and
clause 41(III) of the erstwhile Listing agreement for all the quarters of the
financialyear201516.
3. The Company is not in compliance with Pursuant to Section 203 (1) (ii) for
appointment of Company Secretary asKeyManagerial Personnel for the financial
year201516andasperRegulation6(2)ofTheSecuritiesandExchangeBoardof
India(ListingObligationandDisclosureRequirement)Regulation,2015andClause
47(a) of erstwhile Listing Agreement for appointment of Company Secretary as
complianceofficerforthefinancialyear201516.
4. Company is yet to comply with the section 138 of the Companies Act, 2013 i.e.
InternalAuditorneedstobeappointedtoconducttheinternalauditofthefunctions
andactivitiesofthecompany.
5. TheCompanyisyettocomplywithRegulation33(d)ofTheSecuritiesandExchange
Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015
and Clause 41 (1) (h) of erstwhile Listing Agreement regarding submission of
quarterly/yearly basis financial results by auditor who holds valid peer review
certificateissuedbyInstituteofCharteredAccountantsinIndia.
6. TheCompanyisyettocomplywithRegulation31(2)ofTheSecuritiesandExchange
Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015
for maintaining hundred percent of shareholding of promoter(s) and promoter
groupindematerializedform.
7. The Company is yet to complywithRegulation46 of The Securities and Exchange
Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015
andClause54oferstwhileListingAgreementregardingmaintainingaFunctional
Websitefordisseminatinginformationtoshareholders.
8. Company has not provided book closure notice pursuant to section 91 ofCompaniesAct,2013.
9. The company is yet to comply with Regulation 9, 16(c), 17(9) (b), 30(5) of TheSecurities and Exchange Board of India (Listing Obligation and DisclosureRequirement)Regulation,2015.
10. TheCompanyhasnotcompliedwithSection136andSection101oftheCompanies
Act,Regulation36ofTheSecuritiesandExchangeBoardofIndia(ListingObligation
and Disclosure Requirement) Regulation, 2015 and Clause 32 of erstwhile Listing
Agreementregardingsendingtheannualreportof201516toeverymemberofthe
company.
Wefurtherreportthat
TheBoard ofDirectorsof the Company is duly constitutedwith proper balance of ExecutiveDirectors,NonExecutiveDirectorsandIndependentDirectors.Thechangesinthecompositionof theBoardofDirectors that tookplaceduring theperiodunder reviewwere carriedout incompliancewiththeprovisionsoftheAct.
Adequatenotice isgiventoalldirectors toscheduletheBoardMeetings,agendaanddetailednotesonagendaweresentatleastsevendaysinadvance,andasystemexistsforseekingandobtainingfurtherinformationandclarificationsontheagendaitemsbeforethemeetingandformeaningfulparticipationatthemeeting.
Majority decision is carried throughwhile the dissenting members’ views are captured andrecordedaspartoftheminutes.
We further report that there are adequate systems and processes in the companycommensuratewiththesizeandoperationsofthecompanytomonitorandensurecompliancewithapplicablelaws,rules,regulationsandguidelines.
We further report that during the audit period the company there has been no materialdiscrepancyinthebusinessandnospecificchangeinthenatureoftheBusiness.
PLACE:AHMEDABAD FOR,A.SHAH&ASSOCIATESDATE:12/08/2016 PRACTISINGCOMPANYSECRETARIES
Sd/____________________MR.ANISHSHAHPROPRIETOR
FCSNo:4713 CPNo.:6560
Note: This report is to be read with our letter of even date which is annexed as“ANNEXUREA”andformsanintegralpartifthisreport
AnnexureA
To,TheMembersATLANTADEVCONLIMITED1009HEMKUNTH,BEHINDLICOFFICEDIST.ASHRAMROAD,AHMEDABAD–380006OurReportofevendateistobereadwiththisletter:
1. Maintenance of Secretarial record is the responsibility of the management of thecompany.Ourresponsibilityistoexpressanopiniononthesesecretarialrecordsbasedonouraudit.2. We have followed the audit practices and processes as were appropriate to obtainreasonableassuranceaboutthecorrectnessofthecontentsofthesecretarialrecords.Theverificationwasdonetotestbasis toensurethatcorrect factsarereflected insecretarialrecords.We believe that the processes and practices, we followed provide a reasonablebasisforouropinion.3.WehavenotverifiedthecorrectnessandappropriatenessoffinancialrecordsandBooksofAccountsoftheCompany.4. Where ever required, we have obtained the Management representation about thecomplianceoflaws,rulesandregulationsandhappeningofeventsetc.5. The compliance of the provisions of Corporate and other applicable laws, rules,regulations,standardsistheresponsibilityofmanagement.Ourexaminationwaslimitedtotheverificationofproceduresontestbasis.6. The Secretarial Audit report is neither an assurance as to the future viability of thecompanynoroftheefficacyoreffectivenesswithwhichthemanagementhasconductedtheaffairsofthecompany.PLACE:AHMEDABAD FOR,A.SHAH&ASSOCIATESDATE:12/08/2016 PRACTISINGCOMPANYSECRETARIES Sd/
_____________________MR.ANISHSHAHPROPRIETOR
FCSNo:4713 CPNo.:6560
ANNEXUREIII
NOMINATIONANDREMUNERATIONPOLICY
1. INTRODUCTION
Part D of Schedule II of SEBI (Listing obligations and disclosure requirements)Regulation,2015providesthat:
“The Nomination and Remuneration Committee shall formulate the criteria for determiningqualifications,positiveattributesandindependenceofdirectorsandrecommendtotheBoard,apolicy, relating to the remuneration for the directors, key managerial personnel and otheremployees.”
Section178(2)&(3)oftheCompaniesAct,2013providesthat:
“The Nomination and Remuneration Committee shall identify persons who are qualified tobecome directors and whomay be appointed in senior management in accordance with thecriteria laid down, recommend to the board of directors their appointment and removal andshallcarryoutevaluationofeverydirector’sperformance.”
Therefore,toensurecompliancewiththeaforesaidAct,andRegulations,theNominationandRemuneration Committee (the ‘Committee’) the Board of directors of ‘Atlanta DevconLimited’(the‘Company’)hasformulatedaNominationandRemunerationPolicy(the‘Policy’).
2. OBJECTIVE
TheobjectiveofthisPolicyistoformulatethecriteriafordeterminingqualifications,positiveattributes and independence for the appointment of a Director (Executive/NonExecutive/Independent)andrecommendtotheBoardpolicyrelatingtotheremunerationoftheDirectors,KeyManagerialPersonnelandotheremployees.The policy reflects the Company's objectives for good corporate governance as well assustainedlongtermvaluecreationforshareholders.
3. DEFINITIONS
‘Company’ means ‘Atlanta Devcon Limited’.
‘Committee ‘means ‘Nomination and Remuneration Committee’ as constituted by board from
time to time.
‘Regulations’ means ‘SEBI (Listing obligations and disclosure requirements) Regulation,2015’‘Policy’means‘thispolicy’.
‘KeyManagerialPersonnel’means
ChiefExecutiveOfficerorManagingDirectorortheManager, Wholetimedirector ChieffinancialOfficer Companysecretary AndsuchotherofficerasmaybeprescribedundertheActfromtimetotime.
‘Senior Management Personnel’ (SMP) means personnel of the Company who aremembers of the coremanagement team, excluding Board of Directors and are one levelbelowtheExecutiveDirectorincludingFunctionalHead.
‘Remuneration ’means any money or its equivalent given or passed to any person forservices rendered by him and includes perquisites as defined under the Incometax Act,1961.
4. APPLICABILITY
TheNominationandRemunerationPolicyappliestotheappointmentandremunerationofDirectors, Key Managerial Personnel and Company’s Senior Management and otheremployees.
ThisNomination&RemunerationPolicyshallapplytoall futureemploymentagreementswithmembersofCompany'sSeniorManagement,KeyManagerialPersonnelandBoardofDirectors.ThisPolicyshallbeofguidancefortheNomination&RemunerationCommitteeandBoardofDirectors.
5. APPOINTMENT CRITERIA
The Committee shall identify and ascertain the integrity, qualification, expertise andexperienceofthepersonforappointmentasDirector,KMPoratSeniorManagementlevelandrecommendtotheBoardhis/herappointment.A person should posses adequate qualification, expertise and experience for the positionhe/she is considered for appointment. The Committee has discretion to decide whetherqualification,expertiseandexperiencepossessedbyapersonaresufficient/satisfactoryfortheconcernedposition.ApersontobeappointedasaDirectorshouldpossessimpeccablereputationforintegrity,deepexpertiseandinsightsinsectors/areasrelevanttotheCompanyandabilitytocontributetotheCompany’sgrowth.
APPOINTMENTOFEXECUTIVEDIRECTOR
For the purpose of appointment of Executive Directors, the Committee shall identifypersons of integrity who possess relevant experience, domain expertise and leadershipqualitiesandalsoensurethattheincumbentfulfillssuchothercriteriawithregardtoageandqualificationsaslaiddownunderCompaniesActorotherapplicablelaws.
APPOINTMENT OF NON EXECUTIVE DIRECTORS
TheNonExecutiveDirectorsshallbepersonsofhighintegritywithrelevantexpertiseandexperiencesoastohaveadiverseBoardwithDirectorshavingexpertiseinthefieldsoffinance,taxation,law,governance,marketingandgeneralmanagement.
APPOINTMENTOFINDEPENDENTDIRECTORS
In the case of appointment of Independent Directors, the Committee satisfies itself withregardtotheindependentnatureoftheDirectorandconsiderstheincumbent’squalification,expertise and experience in the respective field and diversity of the Board whilerecommendingtotheBoardthecandidatureforappointmentasDirectorsoastoenabletheBoardtodischargeitsfunctionanddutieseffectively.TheNomination&RemunerationCommitteeshalldecidewhethertoextendorcontinuetheterm of appointment of the independent director, on the basis of report of performanceevaluationofindependentdirectors.
APPOINTMENTOFKMP/SENIORMANAGEMENT/OTHEREMPLOYEES To possess the required qualifications, experience, skills and expertise to effectively
dischargetheirdutiesandresponsibilities. TopracticeandencourageprofessionalismandtransparentworkingEnvironment. Tobuildteamsandcarrythe teammembersalong forachieving thegoals/objectivesand
corporatemission.
6. REMUNERATION OF DIRETORS, KEY MANAGERIAL PERSONNEL & SENIOR
MANAGEMENT Theguidingprincipleisthattheremunerationandtheothertermsofemploymentshallbecompetitive in order to ensure that the Company can attract and retain competentExecutives/Directors.The appointment and remuneration of the Managerial Personnel shall be governed byChapterXIIIoftheCompaniesAct,2013readwithScheduleVandtheRulesthereunder.RewardPolicies
Attractandretain:Remunerationpackagesaredesignedtoattracthighcaliberexecutivesin a competitive global market and remunerate executives fairly and responsibly. Theremuneration shall be competitive and based on the individual responsibilities andperformance.
Motivateandreward:Remunerationisdesignedtomotivatedeliveryofourkeybusinessstrategies,createastrongperformanceorientatedenvironmentandrewardachievementofmeaningfultargetsovertheshortandlongterm.
The principal terms of nonmonetary benefits: The Executives will be entitled tocustomarynonmonetarybenefitssuchascompanycarsandcompanyhealthcare,telephone
etc.Inadditiontheretoinindividualcasescompanyhousingandotherbenefitsmayalsobeoffered.
RemunerationofExecutiveDirectors
The remuneration of the Executive Directors is recommended by the Nomination andRemunerationCommitteeandsubsequently,theBoardapprovesandadoptsthesameandwherevernecessaryforwardsthesamefortheapprovaloftheshareholdersintheGeneralMeetingsoftheCompany.
Executive remuneration is evaluated annually against performance and a benchmark of
softwarecompanies,whichinsizeandfunctionaresimilartotheCompany.TheTotalmonthlyremunerationofManagingDirector/WholetimeDirectorshallbecomprised,interalia,asfollows:
BasicSalary HouseRentAllowance TransportAllowance ConveyanceAllowance ReimbursementofanyoutofpocketexpensesincurredbytheDirectorsindischargeof
theirfunctions/dutiesonbehalfoftheCompany.
AnnualComponents: Medicalreimbursement LeaveTravelAllowance
RemunerationofNonExecutiveDirectors
The NonExecutive Directors (NEDs) are paid remuneration by way of Sitting Fees. TheArticlesofAssociationoftheCompanyhaveentrustedtheBoardofDirectorsoftheCompanytodecidetheremunerationpayabletotheNonExecutiveDirectorsoftheCompanywithinthelimitspermissibleundertheCompaniesAct,2013andRulesthereunderforeachmeetingoftheBoardofDirectorsorCommitteeMeetingsattendedbythemirrespectiveofthenumberofdaysforwhichsuchmeetingmaycontinueconsecutively.
PaymentofSittingFeesTheDirectorsmayreceiveSittingFeesforattendingBoardmeetingaspertheprovisionsoftheCompaniesAct,2013.TheamountofSittingFees,asrecommendbyNominationandRemunerationCommitteeandapprovedbyBoardofDirectors,shallbesubjecttothelimitsasperCompaniesAct,2013andrulesmadethereunderandanyotherenactmentforthetimebeinginforce.
RemunerationofKMPandSeniorManagementPersonnel
Whiledeterminingthe remunerationofKeyManagerialPersonnel andSeniorManagement,thefollowingfactorsareanalyzedbytheCommittee:
Theperformance andcontributionsofKeyManagerialPersonnelandSeniorManagement
tothegrowthoftheCompany,Relativepositionintheorganizationandlengthofservice. Company’sperformanceandpastremunerationpaidtoKMP/SeniorManagement. LimitsprescribedbyanyActs,rulesorregulations.
RemunerationofOtheremployeesApartfromtheDirectors,KMPsandSeniorManagementPersonnel,theremunerationforrestof the employees is determined on the basis of the role and position of the individualemployee, including professional experience, responsibility, job complexity and marketconditions.The various remuneration components, basic salary, allowances, perquisites etc. may becombinedtoensureanappropriateandbalancedremunerationpackage.Theannualincrementstotheremunerationpaidtotheemployeesshallbedeterminedbasedon the appraisal carried out by the HODs of various departments. Decision on AnnualIncrementsshallbemadeonthebasisofthisappraisal7. POLICY REVIEW
TheNominationandRemunerationCommitteeshallreviewthePolicy,fromtimetotime,asand when any changes are to be incorporated in the Policy due to change inAct/Rules/Regulations or as may be felt appropriate by the Committee to ensure theeffectivenessofthePolicy.TheCommitteewilldiscussanyrevisionsthatmayberequired,and recommendany such revisions to theBoard ofDirectors for their consideration andapproval.
PLACE:AHMEDABAD BYORDEROFTHEBOARDOFDIRECTORS,DATE:12/08/2016 FOR,ATLANTADEVCONLIMITED Sd/ _________________________MR.ASHWINBAGDAI MANAGINGDIRECTOR
(DIN03614681)
ANNEXURE–IV
FORMNO.AOC2
(Pursuanttoclause(h)ofsubsection(3)ofsection134oftheActandRule8(2)oftheCompanies(Accounts)Rules,2014.
FormforDisclosureofparticularsofcontracts/arrangementsenteredintobythecompanywithrelatedpartiesreferredtoinsubsection(1)ofsection188oftheCompaniesAct,2013includingcertainarmslengthtransactionunderthirdprovisothereto.
1.DetailsofcontractsorarrangementsortransactionsatArm’slengthbasis.
Sr.No. Particulars Detailsa. Name(s)oftherelatedparty&natureof
relationshipName:NANatureofrelationship:
b. Natureofcontracts/arrangements/transaction NAc. Durationofthe
contracts/arrangements/transactionNA
d. Salienttermsofthecontractsorarrangementsortransactionincludingthevalue,ifany
NA
e. DateofapprovalbytheBoard f. Amountpaidasadvances,ifany N.A
PLACE:AHMEDABAD BYORDEROFTHEBOARDOFDIRECTORS,DATE:12/08/2016 FOR,ATLANTADEVCONLIMITED Sd/ _________________________MR.ASHWINBAGDAI MANAGINGDIRECTOR
(DIN03614681)
ANNEXUREV
Pursuanttosubsection(2)ofsection186oftheActandRule11oftheCompanies(MeetingsofBoardanditsPowers)Rules,2014)
Details ofLoans;
Sr.No
Dateofmakingloan
DetailsofBorrower
Amount Purposeforwhichtheloanistobeutilizedbythe
recipient
Timeperiodfor
whichitisgiven
DateofBR
DateofSR(ifreqd)
RateofInteres
t
Security
1. N.A N.A N.A N.A N.A N.A N.A N.A N.A
DetailsofInvestments:
Sr.No
Dateofinvestment
DetailsofInvestee
Amount Purposeforwhichtheproceedsfrominvestmentisproposedtobeutilizedbytherecipient
DateofBR DateofSR(ifreqd)
Expectedrateofreturn
1 N.A N.A N.A N.A N.A N.A N.A
DetailsofGuarantee/SecurityProvided:
PLACE:AHMEDABAD BYORDEROFTHEBOARDOFDIRECTORS,DATE:12/08/2016 FOR,ATLANTADEVCONLIMITED Sd/ _________________________MR.ASHWINBAGDAI MANAGINGDIRECTOR
(DIN03614681)
Sr.No
Dateofproviding
security/guarantee
Detailsofrecipient
Amount Purposeforwhichthesecurity/guaranteeisproposedtobeutilizedbythe
recipient
DateofBR
DateofSR(ifany)
Commission
1 N.A N.A N.A N.A N.A N.A N.A
ANNEXUREVI
DETAILSPERTAININGTOREMUNERATION ASREQUIREDUNDERSECTION197(12)OF THE COMPANIES ACT, 2013 READ WITH RULE 5(1) OF THE COMPANIES(APPOINTMENTANDREMUNERATIONOFMANAGERIALPERSONNEL)RULES,2014(i) Thepercentage increase inremunerationofeachDirector&ChiefFinancialOfficer
duringtheFinancialyear201516,ratiooftheremunerationofeachDirectortothemedianremunerationoftheemployeesoftheCompanyfortheFinancialyear201516 and the comparison of remuneration of each KeyManagerial Personnel (KMP)againsttheperformanceoftheCompanyareasunder:
Sr.No.
Name ofDirector/KMP andDesignation
Remunerationof
Director/KMPforFinancialyear201516(Rs.incrore)
%increaseinRemuneration
intheFinancial
Year201516
Ratioofremuneration
ofeachDirector/tomedian
remunerationofemployees
Comparison oftheRemunerationof the KMPagainst theperformanceof theCompany
1. MR.ASHWINBAGDAI–(MANAGINGDIRECTOR)
N.A N.A N.A N.A
2. (MR.AKASHDESAIINDEPENDENTDIRECTOR)
N.A N.A N.A N.A
3. MR.DHARMESHSOLANKI–(INDEPENDENTDIRECTOR)
N.A N.A N.A N.A
4. MR.PRANAVSAMPAT–(INDEPENDENTDIRECTOR)
N.A N.A N.A N.A
5. MR.PRADEEPSWAIN(DIRECTOR)
N.A N.A N.A N.A
6. MR.HEMANSHUMEHTA(DIRECTOR)
N.A N.A N.A N.A
7. MRS.VASANTINAGDA(DIRECTOR)
N.A N.A N.A N.A
8. MR.RAJB.JHALA(DIRECTOR)
N.A N.A N.A N.A
(ii) The median remuneration of employees of the Company during the financialyearwasRs.10,000/
(iii) In the Financial year, there was no increase in the median remuneration of
employees;
(iv) There were 1 permanent employee on the rolls of Company as onMarch 31,2016
(v) Relationship between average increase in remuneration and company
performance:ThelossbeforeTaxforthefinancialyearendedMarch31,2016decreasedby46.35%whereasthereisnoincreaseinmedianremuneration.Theaverage increase inmedian remunerationwas in linewith theperformanceoftheCompany.
(vi) Comparison of Remuneration of the Key Managerial Personnel(s) against the
performanceoftheCompany:
a) Variations in the market capitalization of the Company: The marketcapitalization as onMarch 28, 2016was Rs. 54849791 (Rs. 125170036 as onMarch31,2015).
b) As earning per share of the Company is NIL Price Earnings ratio of theCompanyisnotprovided.
c) Percentincreaseover/decreaseinthemarketquotationsofthesharesofthecompanyascomparedtotherateatwhichthecompanycameoutwiththelastpublic offer in the year could not be provided as previous years data is notavailable.
(vii) ThereisnoAveragepercentageincreasemadeinthesalariesofemployeesotherthanthemanagerialpersonnelinthefinancialyeari.e.201516theincreaseordecreaseinthemanagerialremunerationforthesamefinancialyearwasNIL
(viii) Thekeyparametersforthevariablecomponentofremunerationavailedbythedirectors are considered by the Board of Directors based on therecommendations of theNomination and Remuneration Committee as per theRemuneration Policy for Directors, Key Managerial Personnel and otherEmployees.
(ix) The ratio of the remuneration of the highest paid director to that of theemployees who are not directors but receive remuneration in excess of thehighestpaiddirectorduringtheyear–NotApplicable;and
(x) It is hereby affirmed that the remuneration paid is as per the as per the
Remuneration Policy for Directors, Key Managerial Personnel and otherEmployees.
PLACE:AHMEDABAD BYORDEROFTHEBOARDOFDIRECTORS,DATE:12/08/2016 FOR,ATLANTADEVCONLIMITED Sd/ _________________________MR.ASHWINBAGDAI MANAGINGDIRECTOR
(DIN03614681)
AnnexureVIIAnnual report on Corporate Social Responsibility (CSR) activities for the financialyear201516
1
ABriefoutlineofthecompany’sCSRpolicyincludingoverviewoftheprojectsofprogrammesproposedtobeundertakenanda reference to the web link to the CSR policy projects ofprogrammesandthecompositionofCSRcommittee
NA
2
Average net profit of the company for the last three financialyears
NA
3
PrescribedCSRexpenditure(2%oftheamountmentionedin2above)
NA
4
DetailsofCSRspentduringthefinancialyear:●Totalamounttobespentforthefinancialyear●Amountunspent,ifany●Mannerinwhichtheamountspentduringthefinancialyear
NA
DetailsofamountspentonCSRactivitiesduringthefinancialyear201516(1) (2) (3) (4) (5) (6) (7) (8)Sr.No.
CSRProjectofactivityidentified
Sector inwhichtheprojectiscovered(clauseno ofscheduleVIItothecompanies Act2013 asamended)
Project orPrograms(1) Local areaofother(2)Specifythestate anddistrict whereprojects orprogramswasundertaken
Amountoutlay(budget)ProjectsorProgramswise(Rs. inLakhs)
Amountspent ontheprojectsorprogramsSubHeads:(1)Directexpenditure onprojects orprograms(2) Subheads(Rs. inLakhs)
Cumulativeexpenditure up tothereportingperiod(Rs. InLakhs)
Amountspent: Director throughimplementingagency:
1
NA
NA
NA NA NA
PLACE:AHMEDABAD BYORDEROFTHEBOARDOFDIRECTORS,DATE:12/08/2016 FOR,ATLANTADEVCONLIMITED Sd/ _________________________MR.ASHWINBAGDAI MANAGINGDIRECTOR
(DIN03614681)
REPORTOFTHEDIRECTORSONCORPORATEGOVERNANCE
COMPANY’SPHILOSOPHYONCODEOFCORPORATEGOVERNANCE:
Corporategovernanceisaboutmaximizingshareholdervaluelegally,ethicallyandonasustainable basis. Corporate Governance helps to enhance stakeholders’ value byfocusing on longterm value creation without compromising on integrity, socialobligations and regulatory compliances. The Corporate Governance philosophy isscriptedas:
“As a good corporate citizen, the Company is committed to sound corporate practicesbased on conscience, openness, fairness, professionalism and accountability in buildingconfidence of its various stakeholders in it thereby paving the way for its long termsuccess.”
The company believes in sustainable corporate growth that emanates from the topleadership down through the organization to the various stakeholders which isreflected in its sound financial system, enhanced market reputation and improvedefficiency.
TheCompanybelievesthatgoodCorporateGovernanceisacontinuousprocessanditisour continuous endeavor to achieve good governance, by way of a conscious andconscientious effort whereby ensuring the truth, transparency, accountability andresponsibilityinallourdealingswithourstakeholders,consumers,employeesandthecommunityatlarge.
The Board of Directors represents the interest of the Company’s stakeholders, foroptimizinglongtermvaluebywayofprovidingnecessaryguidanceandstrategicvisionto the Company. The Board also ensures that the Company’s management andemployeesoperatewiththehighestdegreeofethicalstandards.
I. BoardofDirectors
A. BOARDOFDIRECTORS:
ThenamesandcategoryofDirectorsontheBoard, theirattendanceat theBoardmeetings held during the year and also at the last Annual General Meeting, thenumberofDirectorshipsheldbytheminothercompaniesason31stMarch,2016aregivenbelow:
NameofDirector
Category
No.of
BoardMeeting
Attended
LastAGMAttendance
MR.ASHWINBAGDAI ManagingDirector 4 4 YES
MR.AKASHDESAI IndependentDirector
4 4 YES
MR.PRANAVSAMPATIndependentDirector
4 4 YES
MR.DHARMESHSOLANKI
IndependentDirector
4 4 YES
MRS.VASANTINAGDA
NonExecutiveDirector
4 4 YES
MR.PRADEEPSWAIN NonExecutiveDirector
4 4 YES
MR.HEMANSHUMEHTA
IndependentDirector
4 4 YES
MR.RAJJHALA NonExecutiveDirector
4 4 YES
FourBoardMeetingswereheldduringtheyearandthegapbetweentwomeetingsdidnotexceedOneHundredTwentyDays.Thedatesonwhichthesaidmeetingswereheld:
May13,2015,August14,2015,November06,2015&February08,2016.
NoneoftheDirectorsofBoardisamemberofmorethan10CommitteesandnoDirectoristheChairmanofmorethan5committeesacrossallthecompaniesinwhichheisaDirector.The necessary disclosures regarding Committee positions have been made by all theDirectors.ThenumberofDirectorshipsheldbytheminothercompaniesason31stMarch,2016isgivenbelow:
NameofDirector OtherDirectorship(No.ofCompany)
1.MR.HEMANSHUMEHTA 42.MR.ASWINKUMARBAGDAI 03.MR.PRANAVVIJAYSAMPAT 04.MR.RAJBALDEVSINHZALA 05.MR.DHARMESHSOLANKI 06.MR.AKASHDESAI 17.MR.PRADEEPSWAIN 08.MRS.VASANTINAGDA 0
B. INDEPENDENTDIRECTOR:None of the Director of the Company is on the Board of more than 7 listedcompanies as an Independent Director. Further, none of the Director of theCompany is acting as a Whole Time Director of any listed company as well asIndependentDirectorinmorethan3listedcompanies.
None of theDirectors of Board is amember ofmore than10 Committees and noDirector is the Chairman ofmore than 5 committees across all the companies inwhich he is a Director. The necessary disclosures regarding Committee positionshavebeenmadebyalltheDirectors.Pursuant to Schedule IV of the Companies Act, 2013 and the Rules made thereunder, all the independent directors of the Company met once during a year,without the attendance of non‑independent directors and members of theManagement.
C. PERFORMANCEEVALUATION:
Onthebasesofperformanceevaluationcriteria laiddownbytheNominationandRemunerationCommittee&PursuanttotheprovisionsoftheCompaniesAct,2013,overallperformanceandcontributionofindependentdirectorsandboardaswholeis evaluatedby theboardofdirectorsof the company at itsmeetingheldon08thFebruary,2016and framed theopinion that all the independentdirectorsaswellexecutive and nonexecutive director have performed their duty satisfactorily andmakingtheirbesteffortsfortheadvancementofthecompany.
D. CODEOFCONDUCT:
The Board has laid down code of conduct for all Board Members and SeniorManagerial Personnel of the Company. All BoardMembers and SeniorManagerialPersonnelhaveaffirmedcompliancewiththeCodeofConductandadeclarationtothiseffectsignedbytheChiefExecutiveOfficer(CEO)hasbeenobtained.A declaration signed byMr. AshwinBagdai,ManagingDirector of the company isattachedherewithformingpartofhisAnnualReport.
II. AUDITCOMMITTEE:
TheAuditCommitteecomprisesof3membersoutofwhich2areNonExecutiveareindependent directors. Accordingly, the Company has complied with therequirements of Regulation 18 of SEBI (Listing Obligation and DisclosureRequirement)Regulations,2015relatingtocompositionofAuditCommittee.
ThetermsofreferenceoftheAuditCommitteeincludesfollowing:
� Oversightofthecompany’sfinancialreportingprocessandthedisclosureofitsfinancialinformationtoensurethatthefinancialstatementiscorrect,sufficientandcredible;
� Recommendation forappointment, remunerationand termsof appointmentofauditorsofthecompany;
� Approval of payment to statutory auditors for any other services rendered bythestatutoryauditors;
� Reviewing,withthemanagement,theannualfinancialstatementsandauditor'sreport thereon before submission to the board for approval, with particularreferenceto:- MattersrequiredtobeincludedintheDirector’sResponsibilityStatementto
be included in theBoard’s report in termsof clause (c)of subsection3ofsection134oftheCompaniesAct,2013
- Changes,ifany,inaccountingpoliciesandpracticesandreasonsforthesame- Major accounting entries involving estimates based on the exercise of
judgmentbymanagement- Significantadjustmentsmadeinthefinancialstatementsarisingoutofaudit
findings- Compliance with listing and other legal requirements relating to financial
statements- Disclosureofanyrelatedpartytransactions- Qualificationsinthedraftauditreport
� Reviewing, with the management, the quarterly financial statements beforesubmissiontotheboardforapproval;
� Reviewing,with themanagement, the statementofuses/ applicationof fundsraised through an issue (public issue, rights issue, preferential issue, etc.), thestatement of funds utilized for purposes other than those stated in the offerdocument / prospectus / notice and the report submitted by the monitoringagency monitoring the utilization of proceeds of a public or rights issue, andmaking appropriate recommendations to the Board to take up steps in thismatter;
� Review and monitor the auditor’s independence and performance, andeffectivenessofauditprocess;
� Approvalor any subsequentmodification of transactions of the companywithrelatedparties;
� Scrutinyofintercorporateloansandinvestments;� Valuationofundertakingsorassetsofthecompany,whereveritisnecessary;� Evaluationofinternalfinancialcontrolsandriskmanagementsystems;� Reviewing, with the management, performance of statutory and internal
auditors,adequacyoftheinternalcontrolsystems;� Reviewingtheadequacyofinternalauditfunction,ifany,includingthestructure
oftheinternalauditdepartment,staffingandseniorityoftheofficialheadingthedepartment,reportingstructurecoverageandfrequencyofinternalaudit;
� Discussionwithinternalauditorsofanysignificantfindingsandfollowupthereon;
� Reviewing the findings of any internal investigations by the internal auditorsinto matters where there is suspected fraud or irregularity or a failure ofinternal control systems of amaterial nature and reporting thematter to theboard;
� Discussion with statutory auditors before the audit commences, about thenatureandscopeofauditaswellaspostauditdiscussiontoascertainanyareaofconcern;
� To look into the reasons for substantial defaults in the payment to thedepositors,debentureholders,shareholders(incaseofnonpaymentofdeclareddividends)andcreditors;
� ToreviewthefunctioningoftheWhistleBlowermechanism;� Approval of appointment of CFO (i.e., thewholetime Finance Director or any
other person heading the finance function or discharging that function) afterassessingthequalifications,experienceandbackground,etc.ofthecandidate;
� CarryingoutanyotherfunctionasismentionedinthetermsofreferenceoftheAuditCommittee.
Explanation(i):Theterm"relatedpartytransactions"shallhavethesamemeaningasprovidedinCompaniesAct,2013.Additionally, the Audit Committee shall mandatorily review the followinginformation:� Management discussion and analysis of financial condition and results of
operations;� Statement of significant related party transactions (as defined by the Audit
Committee),submittedbymanagement;� Management letters / letters of internal control weaknesses issued by the
statutoryauditors;� Internalauditreportsrelatingtointernalcontrolweaknesses;and� The appointment, removal and terms of remuneration of the Chief internal
auditorshallbesubjecttoreviewbytheAuditCommittee.The Committee met 6 times during the year 201516 and the attendance ofmembersatthemeetingswasasfollows:
NameofMember Category Status
No.ofMeetingsattended/held
Mr.DharmeshSolanki NonExecutiveIndependent Chairman 6/6Mr.HemanshuMehta NonExecutiveIndependent Member 6/6Mr.AshwinBagdai ManagingDirector&CFO Member 6/6
The Audit Committee has reviewed financial condition and results of operationsforming part of themanagement discussion and analysis, statement of significantrelatedpartytransactionsassubmittedbythemanagement,andotherinformationas mentioned in part C Schedule II of SEBI (Listing Obligations and disclosureRequirement)Regulations,2015..
The Chairman of the Audit Committee of the Company was present at the lastAnnualGeneralMeetingoftheCompanyheldonSeptember30,2015.
III. NOMINATIONANDREMUNERATIONCOMMITTEE:
In compliancewith Section 178 of the CompaniesAct, 2013 andRegulation 19ofSEBI(ListingobligationandDisclosureRequirement)Regulations2015, theBoardhasconstitutedthe“NominationandRemunerationCommittee.”The Nomination and Remuneration Committee comprises of 3 NonExecutiveDirectorsandall3areindependentdirectors.TheChairmanoftheCommitteeisanIndependent Director. Accordingly, the Company has complied with therequirements of Regulation 19 of SEBI (Listing obligation and DisclosureRequirement) Regulations 2015 relating to composition of Nomination andRemunerationCommittee.
ThetermsofreferenceoftheCommitteeinteralia,includethefollowing:
a) To identify persons who are qualified to become directors and who may beappointed in senior management in accordance with the criteria laid down,recommendtotheBoardtheirappointmentandremoval
b) Tocarryoutevaluationofeverydirector’sperformance.
c) To formulate criteria for determining qualification, positive attributes &
Independenceofdirector
d) Torecommendtoboardpolicyrelatingtoremunerationforthedirectors,KMPandemployees.
e) NRCshallwhileformulatingpolicyensurethat,a. Thelevel&compositionofremunerationisreasonable&sufficienttoattract,
retain&motivatedirectorsofthequalityrequiredtoruntheco.successfully
b. Relationshipofremunerationtoperformanceisclearandmeetsappropriateperformancebenchmarks,and
c. Remuneration to directors, KMP and senior management involve balancebetween fixed & incentive pay reflecting short and longterm performanceobjectiveappropriatetotheworkingoftheco.&itsgoals.
f) TodeviseapolicyonBoarddiversity;
g) ToperformanyotherfunctionsasmaybeassignedtoCommitteebytheBoardfromtimetotime.
TheCommitteemettwiceduringtheyear201516andtheattendancesofmembersatthemeetingswereasfollows:
NameofMember Category Status No.ofMeetingsattended/held
Mr.DharmeshSolanki NonExecutiveIndependent Chairman 2/2
Mr.HemanshuMehta NonExecutiveIndependent Member 2/2
Mr.AkashDesai NonExecutiveIndependent Member 2/2
NosittingfeeshavebeenpaidtoanyDirector.
IV. STAKEHOLDERS’RELATIONSHIPCOMMITTEE:
In compliancewith Section 178 of the CompaniesAct, 2013 andRegulation 20ofSEBI(ListingobligationandDisclosureRequirement)Regulations,2015 theBoardhasconstitutedStakeholdersRelationshipCommittee.
TheStakeholders’RelationshipCommitteecomprisesoffollowingmembers:
1.Mr.DharmeshSolankiChairman2.Mr.HemanshuMehtaMember
TheroleoftheCommitteeisasunder:
� Tohearthecomplaintandgrievancesofvarioussecuritiesholderssoasensure that timely relief is extended to securities holders includingshareholders in respect of their compliant. Additionally the Committeealsolooksintotheshareholders’complaints,ifany,relatedtononreceiptof balance sheet, nonreceipt of declared dividend, revalidation ofdividendwarrantsetc.andredressthesameexpeditiously.
� To consider and approve issue of share certificates (including issue ofrenewed or duplicate share certificates), transfer and transmission ofsecurities,etc
The Committee met four times during the year 201516 and the attendance ofmembersatthemeetingswasasfollows:NameofMember Capacity Status No.ofMeetings
attended/held
Mr.DharmeshSolanki NonExecutiveIndependent Chairman 4/4
Mr.HemanshuMehta NonExecutiveIndependent
Member 4/4
Allinvestorscomplainsdirectlyreceivedbythecompanyarerecordedonthesamedateofreceiptandresolvedimmediately.
V. GENERALBODYMEETING:a. The details of last 3 Annual General Meetings (AGMs) of the Company are as
under:FinancialYear
Date Time Venue
20142015 30.09.2015 10.00A.M. 1009,HEMKUNTH,BEHINDLICOFFICE,ASHRAMROAD,AHMEDABAD380006
20132014 30.09.2014 03.00P.M.
20122013 20.06.2013 09.30A.M.
SpecialResolutioninLast3AGMs:
InAGMheldonSeptember30,2015,noSpecialResolutionswerepassed.
In AGM held on September 30, 2014, Special Resolutions were passed asunder:(i) Provisions of Section 180(1)(c) of the Companies Act, 2013, to borrow
fromtimetotimesuchsumorsumsofmoneyastheymaydeemnecessaryforthepurposeofthebusinessoftheCompany,notwithstandingthatthemoniestobeborrowedtogetherwiththemoniesalreadyborrowedbytheCompany (apart from cash credit arrangement, discounting of bills andothertemporaryloansobtainedfromCompany’sBankersintheordinarycourse of business) and remaining outstanding at any point of timewillexceedtheaggregateofthePaidupShareCapitaloftheCompanyanditsFree Reserves, i.e. reserves not set apart for any specific purpose;provided that thetotalamountuptowhichmoniesmaybeborrowedbytheBoard ofDirectors andwhich shall remain outstanding at any givenpointoftimeshallnotexceedthesumofRs.100crores(RupeesHundredcrores).
(ii) PursuanttotheprovisionsofSection186oftheCompaniesAct,2013and
the rules framed thereunder, asamended from time to time togiveanyloan to any Body Corporate(s)/Person(s), to give any guarantee or toprovide any security in connection with a loan to any BodyCorporate(s)/Person(s) and to acquire byway of subscription, purchaseorotherwise,securitiesofanyBodyCorporate(s)andtodecidelimituptowhichsuchinvestmentsinsecurities/loans/guarantees,thatmaybegivenor made, notwithstanding that any loan given to any BodyCorporate(s)/Person(s), anyguaranteegivenorany securityprovided inconnectionwithaloantoanyBodyCorporate(s)/Person(s)andtoacquireby way of subscription, purchase or otherwise, securities of any BodyCorporate(s) may exceed 60% of the aggregate of the paidup ShareCapitalandFreeReservesandSecuritiesPremiumAccount;or100%ofits
FreeReserves,whichever ishigherat anypointof timehowever it shallnotexceedbeyondRs.50croresatanypointoftime;onsuchtermsandconditions,astheBoardmaythinkfit.
(iii) To reappoint Mr. Ashwin Bagdai, Managing Director of the Company for atermperiodof5YearswitheffectfromApril1,2014.
InAGMheldonJune,202013,noSpecialResolutionswerepassed.VI. DISCLOSURES:
a) ManagementDiscussionandAnalysis:
Annual Report has a detailed chapter on Management Discussions andAnalysis.
b) RelatedPartyTransaction:
There were no transactions with related parties, which are not in theordinarycourseofbusinessandnotonarm’slengthbasis.
There were no materially significant related party transactions that mayhave potential conflict with the interests of company at large, during theyear.The Company has received representation from Senior Managementpersonnel that there was no material significant financial and commercialtransactionentered intobythemalongwiththeir relativewheretheyhavepersonal interest thatmayhaveapotential conflictwith the interestof theCompanyatlarge.ThecompanyhasalsoformulatedapolicyondealingwithRelatedPartyTransactions.
c) Accountingtreatment
ThecompanyhasfollowedaccountingtreatmentasprescribedinAccountingStandardapplicabletothecompany.
d) Neitheranynoncompliancenoranypenalty,strictureswereimposedonthe
Company by stock exchanges or SEBI or any statutory authority on anymatterrelatedtocapitalmarketsduringthelastthreeyears.
e) WhistleBlowerPolicy(VigilMechanism)The Company established the Whistle Blower Policy (vigil mechanism).Inlinewith thebestCorporateGovernancepractices, theCompanyhasput inplace a system through which the Directors or employees may reportconcerns about unethical and improper practices or Alleged Wrongful
Conduct,without fearof reprisal.The functioningof thevigilmechanism isbeingmonitoredbytheAuditCommitteefromtimetotime.
f) VariousPoliciesadoptedbythecompany
Due to promulgation of Securities Exchange Board of India (ListingObligation and Disclosure Requirement) Regulations, 2015, the companyhas adopted various other policies in line with the best CorporateGovernancePractices.Followingotherpolicieshavebeenadoptedbythecompany:
� Riskmanagementpolicy� NominationandRemunerationpolicy� BoardDiversitypolicy� MaterialSubsidiarypolicy� Preservationofdocumentspolicy
VII. MEANSOFCOMMUNICATION:
FinancialResultsTheResultsoftheCompanyweresubmittedtotheStockExchangesaftertheconclusion of the Board Meeting. The official news releases are beingsimultaneouslysenttoStockExchangeswherethesharesoftheCompanyarelisted.
VIII. GENERALSHAREHOLDERINFORMATION
AnnualGeneralMeeting,BookClosure&DividendPayment
The information of forthcoming Annual General Meeting, Book Closure andDividend payment details have been provided in the Notice of Annual GeneralMeetingenclosedalongwiththisAnnualReport.
FinancialCalendarFinancialYear:1stApril,2015to31stMarch,2016FinancialResults:AnnualResults : 13thMay,2015FirstQuarterResults: 14thAugust,2015HalfYearResults :06thNovember,2015ThirdQuarterResults : 08thFebruary,2016ListingAtpresent,theequitysharesoftheCompanyarelistedontheBSELimited(BSE)
NameofStockExchange StockCodeBSELimited 526843
TheCompany has paid the listing fees for the year 201516 to theBombayStockExchangeLimited.
MARKETPRICEDATAATBOMBAYSTOCKEXCHANGELIMITED:
MONTH HIGH(RS.) LOW(RS.)April,2015 9.35 8.50May,2015 10.09 9.35June,2015 9.12 8.36July,2015 8.24 7.83
August,2015 September,2015 7.44 7.44October,2015 7.07 6.39November,2015 6.08 4.97December,2015 4.90 4.09January,2016 February,2016 March,2016 3.90 3.90
REGISTRARANDSHARETRANSFERAGENT:M/S.LINKINTIMESHAREREGISTRYPVT.LTD.NO.C13,PANNALALSILKMILLSCOMPOUND,LALBAHADURSHASTRIROAD,BHANDUPWEST,MUMBAI,MAHARASHTRA400078Tele:+(91)2225963838,25946970 SHARETRANSFERSYSTEM:Thesharetransferworkishandledbyregistrarandtransferagentforthecompany.ShareTransfersareregisteredanddispatchedwithinaperiodoffifteendaysfromthedateofthelodgmentsifthetransferdocumentsarecorrectandvalidinallrespects.TheCompanyhasobtained the half yearly certificates from a Company Secretary in Practice for duecompliance of share transfer formalities as per the requirement of Clause 47 (c) of theListing Agreement of the Stock Exchanges and Regulation 40(9) of the SEBI (ListingObligationsandDisclosureRequirements)Regulations2015.ThesecertificateshavebeensubmittedtotheStockExchanges.
DistributionPatternasonthe31stMarch,2016:Particulars NoofShares Percentage
PromotersandRelatives 1568427 11.15Banks/FII/FI 0 0
Public 6963652 49.51BodyCorporate 4224639 30.04ClearingMember 64340 0.46
HUF 1240211 8.82NRI 2280 0.02Total 14064049 100.00
DematerializationofSharesandLiquidity
12396215 shares constituting 88.14%of total number of shares of the Company are inelectronicformasonMarch31,2016.
ISINNo.(ForDematerializedShares): INE590F01029
The Company has no GDRs/ADRs/Warrants/Convertible Instruments outstanding as onMarch31,2016
AddressforCorrespondence:1009,HEMKUNTH,BEHINDLICOFFICE,ASHRAMROAD,AHMEDABAD380006
PLACE:AHMEDABAD BYORDEROFTHEBOARDOFDIRECTORS,DATE:12/08/2016FOR,ATLANTADEVCONLIMITED Sd/ _________________________MR.ASHWINBAGDAI MANAGINGDIRECTORDIN 03614681
MANAGEMENTDISCUSSIONANDANALYSIS
1.OverallReview:
The Company has diversified in to activities relating to infrastructural projects, includingconstructionsforresidentialandcommercialpremises.
2.FinancialReview:
TheCompanyhasnotcarriedanycommercialactivitiesduringthefinancialyear201516.3.InternalControlSystemandtheiradequacy:
Considering the size of the company, your company has adequate system of internal control toprovidereasonableassurancethatassetsaresafeguardedandprotectedfromunauthorizeduseordeposition.
4.BusinessEnvironment:
ThePerformanceofthecompanyfortheyearunderreviewwassatisfactory.
5.RiskandConcern:
Thebuilding,plantandmachinery,vehicleandstocksofthecompanyareadequatelyinsured.
6.CautionaryStatement:
Statements in this report on management Discussion and analysis may be forward lookingstatementswithin themeaning of applicable security laws or regulations. These statements arebased on certain assumptions and expectations of future events. Actual results could however,differmateriallyfromthoseexpressedorimplied.ImportantfactorsthatcouldmakeadifferenttotheCompany’soperationsincludeglobalanddomesticdemandsupplyconditions, finishedgoodsprices,rawmaterialcostandavailabilityandchangesingovernmentregulationandtaxstructure,economic development within India and the countries with which the company has businesscontactsandotherfactorssuchaslitigationandindustrialrelations.
TheCompanyassumesnoresponsibilitiesinrespectofforwardlookingstatementswhichmaybeamendedormodifiedinfutureonthebasisofsubsequentdevelopments,informationofevent.
PLACE:AHMEDABAD BYORDEROFTHEBOARDOFDIRECTORS,DATE:12/08/2016 FOR,ATLANTADEVCONLIMITED Sd/ _________________________MR.ASHWINBAGDAI MANAGINGDIRECTORDIN 03614681
CEO/CFOCERTIFICATION
To,BoardofDirectors
ATLANTADEVCONLIMITEDI,Mr.AshwinBagdai,ManagingDirectorandChiefFinancialOfficerofATLANTADEVCONLIMITED,tothebestofourknowledgeandbelief,herebycertifythat:(a) Ihave reviewed financial statementsand the cash flow statement for theyearended
March31,2016andthattothebestofourknowledgeandbelief:
1. These statements do not contain any materially untrue statement or omit anymaterialfactorcontainstatementsthatmightbemisleading;
2. ThesestatementstogetherpresentatrueandfairviewoftheCompany’saffairsand
are in compliance with existing Accounting Standards, applicable laws andregulations.
(b)Tothebestofourknowledgeandbelief,notransactionentered intobytheCompanyduringtheyearswhicharefraudulent,illegalorvolatileoftheCompany’sCodeofConduct.(c) I accept responsibility forestablishingandmaintaining internal controls for financialreportingand thatwehaveevaluatedtheeffectivenessof internalcontrolsystemsof theCompanypertainingtofinancialreportingandhavedisclosedtotheAuditorsandtheAuditCommittee,deficienciesinthedesignoroperationofsuchinternalcontrols,ifany,ofwhichweareawareandthestepswehavetakenorproposetotaketorectifythesedeficiencies.(d) IhaveindicatedtotheAuditorsandtheAuditCommittee:
1. That there is no significant changes in internal control over financial reportingduringtheyear;
2. Thatthereisnosignificantchangesinaccountingpoliciesduringtheyearandthat
thesamehavebeendisclosedinthenotestothefinancialstatements;and
3. Thatthereisnoinstancesofsignificantfraudofwhichwehavebecomeawareandthe involvement therein, if any, of the management or an employee having asignificantroleintheCompany’sinternalcontrolsystemoverfinancialreporting.
Sd/PLACE:AHMEDABAD _________________________DATE:12/08/2016MR.ASHWINBAGDAI
MANAGINGDIRECTOR&CFODIN 03614681
DECLARATIONBYTHEMANAGINGDIRECTOROFTHECOMPANYABOUT
CORPORATEGOVERNANCE
I,Mr.AshwinBagdai,ManagingDirectorofATLANTADEVCONLIMITED herebyconfirmpursuant toRegulation26(3)andPARTDof ScheduleVof SEBI (ListingObligationsandDisclosureRequirements)Regulations2015that:
1.TheBoardofDirectorsofATLANTADEVCONLIMITEDhaslaiddownacodeofconductandthesameisadoptedbyallthememberoftheBoards.
2.All the members of the board as well as senior management personal havecompliedwiththesaidcodeofconductfortheyearended31stMarch2016.
PLACE:AHMEDABAD BYORDEROFTHEBOARDOFDIRECTORS,DATE:12/08/2016 FOR,ATLANTADEVCONLIMITED Sd/ _________________________MR.ASHWINBAGDAI MANAGINGDIRECTORDIN 03614681
AUDITORS’CERTIFICATEONCORPORATEGOVERNANCE
To,TheMembersofATLANTADEVCONLIMITED
We have examined the compliance of the conditions of Corporate Governance byATLANTADEVCONLIMITED (‘the Company’) for the year endedMarch31, 2016 asstipulatedin:� Clause49(excludingclause49(VII)(E)oftheListingAgreementsoftheCompany
withstockexchanges)fortheperiodApril1,2015toNovember30,2015.� Clause49(VII)(E)oftheListingAgreementsoftheCompanywithstockexchanges
fortheperiodApril1,2015toSeptember1,2015.� Regulation 23(4) of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (SEBI Listing Regulations) for the period September2, 2015 toMarch31,2016and
� Regulations 17 to 27 (excluding regulation 23 (4)) and clauses (b) to (i) ofregulation 46 (2) and paragraphs C, D and E of Schedule V of the SEBI ListingRegulationsfortheperiodDecember1,2015toMarch31,2016.
The compliance of conditions of Corporate Governance is the responsibility of themanagement. Our examination was limited to a review of the procedures andimplementation thereof, adopted by the Company for ensuring the compliance of theconditions of Corporate Governance. It is neither an audit nor an expression of theopiniononthefinancialstatementsoftheCompany.In our opinion and to the best of our information and explanations given to us, wecertifythattheCompanyhascompliedwiththeconditionsofCorporateGovernanceasstipulatedintheabovementionedListingAgreementandSEBIregulations.WefurtherstatethatsuchcomplianceisneitheranassuranceastothefutureviabilityoftheCompanynoroftheefficiencyoreffectivenesswithwhichthemanagementhasconductedtheaffairsoftheCompany.
PLACE:AHMEDABADFOR,M/S.PRAFULN.SHAH&CO,DATE:12/08/2016 CHARTEREDACCOUNTANTS Sd/
______________________________ CAPRAFULB.SHAH PROPRIETOR M.N118298
ATLANTADEVCONLIMITED1009,HEMKUNTH,BEHINDLICOFFICE,ASHRAMROAD,AHMEDABAD–380009
ATTENDANCESLIP
NameoftheattendingMember(InBlockLetters):______________________________________FolioNo/DPID/ClientID :_________________________________NameoftheProxy :_________________________________(TobefillediniftheProxyattendsinsteadoftheMember)No.ofSharesheld:_________________________(Inwords)________________________________________I hereby record my presence at Annual General Meeting of the Company at 1009,HEMKUNTH,BEHINDLICOFFICE,ASHRAMROAD,AHMEDABAD–380009 on,30thdayofSeptember,2016andatanyadjournmentthereof.
_______________________________________SignatureofShareholder/Proxy
FormNo.MGT11Proxyform
[Pursuanttosection105(6)oftheCompaniesAct,2013andrule19(3)oftheCompanies(ManagementandAdministration)Rules,2014]
CIN:L45200GJ1994PLC061328Nameofthecompany:ATLANTADEVCONLIMITEDRegisteredoffice:1009,HEMKUNTH,BEHINDLICOFFICE,ASHRAMROAD,AHMEDABAD–
380009Nameofthemember(s):Registeredaddress:EmailId:FolioNo/ClientId:DPID:I/We,beingthemember(s)of………….sharesoftheabovenamedcompany,herebyappoint1.Name:………………………...…
Address:EmailId:Signature:…………………….
2.Name:………………………..…Address:EmailId:Signature:…………………….
Asmy/ourproxytoattendandvote(onapoll)forme/usandonmy/ourbehalfatAnnualGeneralMeetingofthecompany,tobeheldon30thdayofSeptember,2016At09:00a.m.1009, HEMKUNTH,BEHINDLICOFFICE, ASHRAMROAD,AHMEDABAD – 380009 and atanyadjournmentthereofinrespectofsuchresolutionsasareindicatedbelow:SR.NO. RESOLUTION FOR AGAINST
OrdinaryBusiness1.
AdoptionofBalanceSheet,StatementofProfitandLoss, Report of the Board of Directors andAuditors for the financial year ended March 31,2015.
2.
AppointmentofadirectorinplaceofMr.PradeepSwain (Din: 05116867), who retires by rotationandbeingeligible,seeksreappointment.
3.
RatificationofappointmentofM/s.PrafulN.Shah& Co., Chartered Accountants (Firm RegistrationNo. 108057W) as Statutory auditors of theCompany.
Signedthis…..dayof……….,2016.__________________________________SignatureofShareholder __________________________________SignatureofProxyholder(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 less than 48 hoursbeforethecommencementoftheMeeting.
AffixRevenueStamp
FormNo.MGT12PollingPaper
[Pursuanttosection109(5)oftheCompaniesAct,2013andrule21(1)(c)oftheCompanies(ManagementandAdministration)Rules,2014]
NameoftheCompany:ATLANTADEVCONLIMITEDRegisteredoffice:1009,HEMKUNTH,BEHINDLICOFFICE,ASHRAMROAD,AHMEDABAD–
380009BALLOTPAPER
Sr.No. Particulars Details1. NameoftheFirstNamedShareholder
(Inblockletters)
2. Postaladdress
3. RegisteredfolioNo./*ClientIDNo.(*Applicabletoinvestorsholdingsharesindematerializedform)
4. ClassofShare EquitySharesIherebyexercisemyvoteinrespectofOrdinary/SpecialResolutionsenumeratedbelowbyrecordingmyassentordissenttothesaidresolutioninthefollowingmanner:Sr.No.
ParticularsofItem No.ofsharesheldbyme
Iassenttothe
resolution
Idissentfromtheresolution
1. Adoption of Balance Sheet, Statement ofProfit and Loss, Report of the Board ofDirectors and Auditors for the financialyearendedMarch31,2015.
2. AppointmentofadirectorinplaceofMr.Pradeep Swain (Din: 05116867), whoretires by rotation and being eligible,seeksreappointment.
3. RatificationofappointmentofM/s.PrafulN. Shah & Co., Chartered Accountants(Firm Registration No. 108057W) asStatutoryauditorsoftheCompany.
PLACE:AHMEDABAD DATE:
_________________________________Signatureoftheshareholder
ATLANTADEVCONLIMITED1009,HEMKUNTH,BEHINDLICOFFICE,ASHRAMROAD,AHMEDABAD–380009(T)9426456144Email:[email protected]:L45200GJ1994PLC061328 NameoftheSole/FirstNamedMember : _______________________________AddressofSole/FirstNamedMember : _______________________________
_______________________________
RegisteredFolioNumber : _______________________________
DPID/ClientID : _______________________________
Numberofsharesheld : _______________________________
DearMember,
SUBJECT:PROCESSANDMANNERFORAVAILINGREMOTEEVOTINGFACILITY
Pursuanttoprovisionsofsection108oftheCompaniesAct,2013readwiththeCompanies(Management and Administration) Rules, 2014 as amended by the Companies(Management & Administration) Amendment Rules, 2015, and Regulation 44 of SEBI(Listing Agreement and Disclosure Requirements) Regulations, 2015, the Company ispleasedtoofferremoteevotingfacilitytothememberstocasttheirvoteselectronicallyasanalternativetoparticipationattheAnnualGeneralMeetingoftheCompanytobeheldon30thSEPTEMBER,2016at1009HEMKUNTH,BEHINDLICOFFICEDIST.ASHRAMROAD,AHMEDABAD,GUJARAT,INDIA–380006.TheCompanyhasengagedtheservicesofCentralDepositoryServices (I)Limited (“CDSL”) toprovide remoteevoting facilities.RemoteevotingmeansthefacilitytocastvotesbyaMemberusingelectronicvotingsystemfromaplaceotherthanthevenueoftheAGM.Theremoteevotingfacilityisavailableatthelinkhttps://www.evotingindia.com.The electronicvotingparticularsaresetoutbelow:
EVEN(EVotingEventNumber) UserID
Password/SequenceNo.
Theremoteevotingfacilitywillbeavailableduringthefollowingvotingperiod:
COMMENCEMENTOFREMOTEEVOTING ENDOFREMOTEEVOTING
27thSeptember,2016(9:00A.M.) 29thSeptember,2016(5:00P.M.) Please read the instructions printed below before exercising the vote.These details and instructions form integral part of the Notice for the Annual GeneralMeetingtobeheldon30THSEPTEMBER,2016.
MEMBERSAREREQUESTEDTOFOLLOWTHEINSTRUCTIONSFORREMOTEEVOTINGASMENTIONINTHEANNUALREPORT.
� ROUTEMAPFORAGMATLANTADEVCONLIMITED
1009,HEMKUNTH,BEHINDLICOFFICE,ASHRAMROAD,AHMEDABAD–380009