The Board of Directors acknowledge the responsibility for ensuring
compliance with the provisions of Section >_ (_) (c) read with Section >_ (?) of
the Act, in preparation of annual accounts for the financial year ended _> March _ _?
and state that:
a) in the preparation of the annual accounts for the financial year
ended _> March _ _?, the applicable accounting standards have been followed along with
proper explanation relating to material departures; b) t he Directors had selected such
accounting policies and applied them consistently and made judgments and estimates that
are reasonable and prudent so as to give a true and fair view of the state of affairs of
the Company as at _> March _ _? and profit of the Company for that period; c) t he
Directors have taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of the Act, for safeguarding the assets of the
Company and for preventing and detecting fraud and other irregularities; d) t he annual
accounts have been prepared on a going concern basis; e) p roper internal financial
controls have been laid down which are adequate and were operating effectively; and f) p
roper systems have been devised to ensure compliance with the provisions of all applicable
laws and that such systems were adequate and operating effectively.
UNCLAIMED DIVIDEND
Section >_ of the Act read with Investor Education and Protection
Fund Authority (Accounting, Audit, Transfer and Refund) Rules, _ >_ (the ‘Rules'),
mandates that the companies to transfer the amount of dividend, which remained unclaimed,
for a period of seven years, from the unpaid dividend account to the Investor Education
and Protection Fund (IEPF). Further, the Rules also mandate that the share on which
dividend has not been paid or claimed for seven consecutive years or more be transferred
to the IEPF.
The detail of unclaimed dividends and their corresponding shares would
become eligible for transfer to IEPF on the dates mentioned below:
Shareholders may note that both the unclaimed dividend and
corresponding shares, which have been transferred to IEPF in previous financial years,
including all benefits arising on such shares, can be claimed from IEPF as per the
procedure provided under the applicable provisions of the Act. The Company sends periodic
intimation to shareholders, advising them to lodge their claims with respect to unclaimed
dividend.
Mr. Yashasvi Pareek, Company Secretary & Compliance Officer, has
been appointed as nodal officer to ensure compliance with the IEPF Rules. The contact
details of nodal officer and detail of unpaid/ unclaimed dividend are available on the
website of the Company, i.e. https://www. vaibhavglobal.com/dividend
OTHER DISCLOSURES
During the financial year under review:
>. T here are no significant and material orders passed the
regulators or courts or tribunals which would impact the going concern status of the
Company;
_. T here are no material/significant changes occurred between the end
of the financial year _ _ -_? and the date of this report which may impact the financial
position of the Company;
_. N o application has been made under the Insolvency Bankruptcy Code;
hence the requirement to disclose the details of application made or any proceeding
pending under the Insolvency and Bankruptcy Code, _ >_ (_> of _ >_) during the
year alongwith their status as at the end of the financial year is not applicable; and
. T he requirement to disclose the details of between amount of the
valuation done at the time of onetime settlement and the valuation done while taking loan
from the Banks or Financial Institutions along with the reasons thereof, is not
applicable.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The disclosures to be made under Section >_ (_)(m) of the Act read
with Rule _(_) of the Companies (Accounts) Rules, _ > are as under:
A. Conservation of energy
The operations of the Company are not energy intensive. However, the
Company always focuses on conservation of energy, wherever possible. The Company is making
continuous efforts to conserve energy by adopting innovative measures to reduce wastage
and optimise consumption. Some of the specific measures undertaken are:
(i) S teps taken by the company for utilising sources of energy:
• Renewable Energy
During the year, the Company has generated .? lacs KWh electricity
through renewable energy. The Company's total solar capacity is _.__ MW.
• Electrical Vehicle
Towards reduction carbon footprint, the Company has distributed >_
electric scooters for employees' commute. The Company uses _ electrics cars for its routine
transportation.
• Green Building
Our manufacturing unit at the Special Economic Zone (SEZ) in Jaipur,
Rajasthan, is a Net Zero Energy and LEED platinum certified.
• Water Management
Your Company have rainwater harvesting structures of approximately
_> KL of water across all units of VGL India. The Company recycles _ KL water per day,
equivalent to approximately >_,? KL water annually through its ETP / STP plant. The
mission is to conserve water through rainwater harvesting to replenish depleting
groundwater table and to provide clean drinking water.
• Biodiversity
Your Company have accelerated efforts to enhance the green coverage at
our plants and surroundings. Till date, we have planted _, trees at different locations.
In order to promote biodiversity in Rajasthan, we initiated a multilayer plantation akin
to forest in the rural areas and planted __, saplings in two acres of land for Miyawaki
forest.
These initiatives are aligned with our vision to become Carbon Neutral
in Scope > and Scope _ GHG emissions by _ _> & pursuing to become Carbon Neutral
in Scope _ GHG emissions.
(ii) Capital investment on energy conservation equipment: _ lacs.
B. T echnology Absorption
(i) The efforts made towards technology absorption:
Your Company possesses an in-house research and development team, which
is continuously working towards more efficient jewellery production, improved processes
and better designs. Your Company constantly strives for the alternate latest
technology for its manufacturing processes. Towards technology and process upgradation in
different segments, the Company has installed the following technologies during the year:
a) Automatic Flask Unbedding & Flask Cleaning Machine – automates
pre-casting preparation, reducing manual handling and cycle time. b) IR Rotary Burnout
Furnaces – improved insulation and Kanthal A-> elements delivering up to _ %
power savings in burnout cycles. c) Solar Panels & Lamps – grid-tied
rooftop arrays ( _ lacs kWh capacity) and LED-based solar lamps for perimeter lighting,
reducing reliance on grid power. d) Energy Storage System (C&I – >)
– on-site battery storage of _>?-kWh to shift peak loads and maximize use of
rooftop solar generation.
(ii) The benefits derived like product improvement, cost reduction,
product development or import substitution:
The steps taken towards technology absorption by the company helped to
improve its processes, quality, product, save energy and reduce cost.
(iii) I mported technology: The Company has imported laser systems;
smart wax production units and IR burnout furnaces incorporate imported core modules
(optics and control electronics) integrated with locally manufactured structural and
peripheral components. This hybrid approach ensures global performance standards while
supporting domestic supply chains.
(iii) Expenditure incurred on Research and Development: Nil C.
Foreign Exchange Earnings and Outgo
The information on foreign exchange earnings and outgo during the year
under review is as under:
Acknowledgement
Your directors acknowledge with gratitude and wish to place on record
its appreciation for the dedication, commitment and hard work of the Company's
employees at all levels, who continuedtobecornerstoneofourmajorstrengthandsuccess. The
Board also take this opportunity to express our deep sense of gratitude to all government
and non-government agencies, bankers, vendors and business partners for their continued
support and cooperation. We are equally grateful to our Members and Stakeholders for their
unwavering trust and confidence in the management of the Company. We look forward for
ongoing support in the years ahead.
We wish and pray for all to stay healthy, and happy!
|
For and on
behalf of the Board of Directors |
|
Harsh Bahadur |
| Place : Boston |
Chairman of the
Board |
| Date : _> May _ _? |
DIN: __ ___ |