To,
The Members,
Microse India Limited
Your Directors take pleasure in presenting the 37th Annual Report on the business and
operations of Microse India Limited along with Audited Financial Statements for the
Financial Year ended March 31,2025.
1. STATE OF THE COMPANY'S AFFAIRS AND KEY FINANCIAL HIGHLIGHTS:
Particulars |
For the Year ended March 31, 2025 |
For the Year ended March 31, 2024 |
|
(Rs. in Lakhs) |
(Rs.in Lakhs) |
| Income |
136.42 |
22.76 |
| Expenditure |
40.58 |
60.96 |
| Profit /(Loss) before Tax |
95.85 |
(38.20) |
| Deferred Tax/Current Tax |
- |
- |
| Profit/ (Loss) after Tax |
95.85 |
(38.20) |
During the year under review your Company has reported a Net Profit of Rs. 95.85
lakhs as compared to previous financial year wherein there was a Net Loss of Rs.
38.20 Lakhs.
2. DIVIDEND:
In order to plough back the profits of the Company for further expansion, your
Directors thought it prudent not to recommend any dividend.
3. TRANSFER TO RESERVES:
The Company has not proposed to transfer any amount to the General Reserve out of
amount available for appropriation.
4. MATERIAL CHANGES AND COMMITMENTS. IF ANY, AFFECTING THE FINANCIAL POSITION OF THE
COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH
THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:
There has been no material changes and commitments affecting the financial position of
the company which have occurred between the end of the financial year of the company to
which the financial statements relate and the date of the report.
5. CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION (SECTION 134(3)(m) OF THE COMPANIES
ACT, 2013:
With the kind of activities carried out by the Company, it has not spent any
substantial amount on conservation of energy and technology absorption stipulated under
Section 134(3)(m) of the Companies Act, 2013.
6. FOREIGN EXCHANGE EARNINGS AND OUTGO (SECTION 134(3)(m) OF THE COMPANIES ACT, 2013:
The Company has not earned any Foreign Exchange in terms of actual inflows during the
year and has not spent any Foreign Exchange during the year in terms of actual outflows as
Company operates at domestic level.
7. CHANGE IN THE NATURE OF THE BUSINESS:
There has been no change in the nature of business of the Company during the year under
review.
8. REVISION OF THE FINANCIAL STATEMENT OF THE COMPANY/THE REPORT OF THE BOARD:
The Financial Statement of the Company/Board Report has not been revised during the
Financial Year 2024-2025 as per section 131 of Companies Act, 2013.
9. EXTRACT OF ANNUAL RETURN:
The extract of Annual Return pursuant to Section 92 of the Companies Act, 2013 read
with the Companies (Management and Administration) Rules, 2014 in the prescribed Form
MGT-9 is hereby attached with this Report in ANNEXURE I and is a part of this
Report as on 31st March, 2025.
The web address where annual return has been placed: www.microseindia.com.
10. DETAILS OF NEW SUBSIDIARY/ JOINT VENTURES/ASSOCIATE COMPANIES:
During the year under review, your Company has not undergone any Corporate
Arrangements, Restructuring, or changes and hence the Company has no new subsidiaries,
associates and joint venture companies.
11. DETAILS OF THE COMPANY WHO CEASED TO BE ITS SUBSIDIARY/ JOINT VENTURES/ASSOCIATE
COMPANIES:
During the year under review, no Company has ceased to be subsidiary, associate and
joint venture Company of your Company.
12. THE DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE:
There were no significant orders passed by any of the Regulators or Courts or
Tribunals, which has an impact on the operations of the Company or affecting the Going
Concern status of the Company.
13. DEPOSITS:
Your Company has not accepted any deposits within the meaning of Section 73(1) of the
Companies Act, 2013 and the Rules made there under.
14. MANAGEMENT DISCUSSION & ANALYSIS REPORT:
The Management Discussion and Analysis report is provided in ANNEXURE II which
forms part of this report.
15. CHANGE IN THE CAPITAL STRUCTURE:
There has been no change in the capital structure of the Company during the year ended
31 st March, 2025.
16. ACCOUNTING TREATMENT:
The Company followed the applicable Accounting Standards in the preparation of its
Financial Statements.
17. COMPLIANCE WITH THE APPLICABLE SECRETARIAL STANDARDS:
The Company has complied with the applicable secretarial standards for the FY 202425.
18. INTERNAL FINANCIAL CONTROL:
The Board of Directors are primarily responsible for establishing and maintaining
internal financial controls within the Company. This is largely based on the internal
controls over financial reporting criteria that have been established by the Company.
These are based on the size and the nature of the Company's operations and have been
designed to provide reasonable assurance on recording and providing reliable operational
and financial information, as per the applicable statutes and with regards to compliance
norms.
The Company strictly follows the statute, laws, rules and regulations, which is
regularly reviewed by the statutory and internal auditors. The adequate internal control
framework identifies and analyses risks and manages appropriate responses. It also ensures
stringent compliance across all the business units and departments. The aim behind this is
to safeguard the assets, prevent and detect fraud and errors, and also check completeness
of accounting records and timely preparations of financial statements.
19. DETAILS OF MEETING OF BOARD OF DIRECTORS:
The Board met 6 times during the year. The intervening gap between the Meetings
was within the period prescribed under the Companies Act, 2013 and the SEBI (Listing
Obligations and Disclosures Requirements), Regulation, 2015. The details of which are
given below:
Sr. No. |
Date of Meetings |
Venue and time of the meeting |
Directors present |
Directors to whom leave of absence was granted |
1 |
23/04/2024 |
421, Maker Chamber V, Nariman Point, Mumbai- 400021 |
5 |
NA |
2 |
29/05/2024 |
421, Maker Chamber V, Nariman Point, Mumbai- 400021 |
5 |
NA |
| 3 |
24/06/2024 |
421, Maker Chamber V, Nariman Point, Mumbai- 400021 |
5 |
N.A. |
| 4 |
12/08/2024 |
421, Maker Chamber V, Nariman Point, Mumbai- 400021 |
5 |
NA |
| 5 |
28/08/2024 |
421, Maker Chamber V, Nariman Point, Mumbai- 400021 |
5 |
N.A. |
| 6 |
12/11/2024 |
421, Maker Chamber V, Nariman Point, Mumbai- 400021 |
5 |
N.A. |
| 7 |
14/02/2025 |
421, Maker Chamber V, Nariman Point, Mumbai- 400021 |
5 |
N.A. |
20. CHANGE IN DIRECTORS AND KEY MANAGERIAL PERSONNEL:
*There is no Appointment/ Resignation/ Change in Designation of directors during the
year under review. However, after closer of the year (i.e. during year 2025-2026) Mr.
Akshay Sushil Goenka (DIN: 09297038) has resigned from office of directorship of the
company on 14th April 2025 and company has appointed Ms. Ria Sushil Goenka (DIN: 10984963)
as Additional Director and as Independent Director in the company with effect from 14th
April 2025.
**During the year under review Ms. Agrima Shah, Company Secretary ceased to hold office
of Company Secretary of the company on 25th January 2024 and however after the closure of
the year Ms. Mini Goyal has been appointed as Company Secretary with effect from 23rd
April 2024.
*** Whereas during the year under review 2024-2025 Pursuant to the provisions of
Section 152 of the Companies Act, 2013 read with the relevant rules made thereunder, Mrs.
Nisha Garg (DIN: 06379024), Director of the Company, was liable to be retired by rotation
and being eligible offer themselves for reappointment at the AGM, had been re-appointed in
36th Annual General Meeting held on 27th September, 2024.
(Details of Directors retiring by rotation and re-appointed at 36th Annual general
meeting).
**** Whereas Pursuant to the provisions of Section 152 of the Companies Act, 2013 read
with the relevant rules made thereunder Mr. Saurabh Garg (DIN: 00376890), Director of the
Company, is liable to retire by rotation and being eligible offer themselves for
reappointment at ensuing 37th Annual General Meeting to be held on Thursday, 25th
September, 2025.
(Details of Directors retiring by rotation / seeking re-appointment at 36th ensuing
Annual general meeting).
*****Whereas Board has recommended the Re-appointment of Ms. Ria Sushil Goenka (DIN:
10984963) as a Director of the company as per the provision of Section 152 of the
Companies Act, 2013.
The brief resume of the Directors and other related information has been detailed in
the Notice convening the 37th AGM of the Company. Pursuant to Regulation 36 of the SEBI
(Listing Obligations Disclosures Requirements) Regulations, 2015 read with Secretarial
Standards - 2 on General Meetings, a brief profile is provided as an Annexure to the
Notice of the 37th Annual General Meeting.
21. STATEMENT ON DECLARATION GIVEN BY THE INDEPENDENT DIRECTORS UNDER SECTION 149 (6)
OF THE COMPANIES ACT, 2013:
Pursuant to Section 134(3)(d) of the Act, the Company confirms having received
necessary declarations from all the Independent Directors under Section 149(7) of the Act
and Regulation 25(8) of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (“the Listing Regulations”) declaring that they meet the
criteria of independence laid down under Section 149(6) of the Act and Regulation 16(1
)(b) of the Listing Regulations. All the Independent Directors of Company have complied
with the provisions of sub rule (1) and (2) of Rule 6 of the Companies (Appointment and
Qualification of Directors) Rules, 2014 by registering themselves under data bank of
Independent Director.
All Independent Directors are familiarized with your Company, their roles, rights and
responsibilities in your Company, nature of the industry in which Company operates,
business model, strategy, operations and functions of your Company through its Executive
Directors and Senior Managerial Personnel.
In view of the above provisions, your Company has following Independent Directors:
Sr. No. |
Name of the Independent Director |
Date of appointment / Reappointment |
Date of passing of special resolution (if any) |
| 1. |
Mr. Pawan Gupta |
29/08/2023 |
NA |
| 2. |
Mrs. Ria Sushil Goenka |
14/04/2025 |
NA |
22. COMMITTEES OF BOARD
i. NOMINATION AND REMUNERATION COMMITTEE:
The Nomination and Remuneration Committee consists of three Directors with two
Independent Directors and one Non-Executive Director and the Chairman being the
Independent Director. The said constitution is in accordance with the provisions of
Section 178 of the Companies Act, 2013. The Committee acts in accordance with the terms of
reference as approved and adopted by the Board. The Nomination and Remuneration Policy is
attached as per ANNEXURE-III
The Composition of the Nomination and Remuneration Committee is as under:
Chairman:
> Mr. Akshay Sushil Goenka (Independent Director) (resigned w.e.f. 14/04/2025)
> Ms. Ria Sushil Goenka (Independent Director) (appointed w.e.f. 14/04/2025)
Members:
> Mr. Pawan Gupta (Independent Director)
> Ms. Nisha Garg (Non-Executive Director)
The meeting of Nomination & Remuneration Committee was held on 12/08/2024 and all
members were present.
ii. AUDIT COMMITTEE:
In accordance with the provisions of Section 177 of the Companies Act, 2013 your
Company has constituted an Audit Committee comprising of minimum three Directors
consisting of two Non- Executive Independent Directors and one Executive Director with the
Chairman being Independent director. The Audit Committee acts in accordance with the Terms
of Reference specified by the Board in writing.
Chairman:
> Mr. Akshay Sushil Goenka (Independent Director) (resigned w.e.f. 14/04/2025)
> Ms. Ria Sushil Goenka (Independent Director) (appointed w.e.f. 14/04/2025)
MEMBERS:
> Mr. Shyam Sunder Agrawal (Executive Director)
> Mr. Pawan Gupta (Independent Director)
Details of Meeting of Audit Committee:
Sr. No. |
Date of Meetings |
Venue and time of the meeting |
Directors present |
Directors to whom Leave of absence was granted |
| 1 |
29/05/2024 |
421, Maker Chamber V, Nariman Point, Mumbai- 400021 |
3 |
N.A. |
| 2 |
12/08/2024 |
421, Maker Chamber V, Nariman Point, Mumbai- 400021 |
3 |
N.A. |
| 3 |
12/11/2024 |
421, Maker Chamber V, Nariman Point, Mumbai- 400021 |
3 |
N.A. |
| 4 |
14/02/2025 |
421, Maker Chamber V, Nariman Point, Mumbai- 400021 |
3 |
N.A |
The functions of the Audit Committee are stated below:
(a) Overview of the company's financial reporting process and the Disclosure of its
financial information to ensure that the financial statement is correct, sufficient and
credible;
(b) Review and monitoring of internal control system and compliance of audit
observations of the Auditors;
(c) Review of the financial statements before submission to the Board;
(d) Supervision of other financial and accounting matters as may be referred to by the
Board;
(e) Reviewing, with the management, performance of statutory and internal auditors, and
adequacy of internal control systems;
(f) Discussion with statutory auditors before the audit commences, about the nature and
scope of audit as well as post-audit discussion to ascertain any area of concern;
(g) Reviewing the company's financial and risk management policies;
(h) Overseeing vigil mechanism for adequate safeguards against victimization of persons
who use such mechanism and make provision for direct access to the chairperson of the
Audit Committee in appropriate and exceptional cases.
Acceptance of Recommendations of the Audit Committee:
The Management acted upon the observations and suggestions of the Audit Committee:
1. Oversight of the company's financial reporting process and the disclosure of its
financial information to ensure that the financial statement is correct, sufficient and
credible;
2. Recommendation for appointment, remuneration and terms of appointment of auditors of
the company;
3. Reviewing, with the management, the annual financial statements and auditor's report
thereon before submission to the board for approval;
4. Reviewing, with the management, the quarterly financial statements before submission
to the board for approval;
5. Review and monitor the auditor's independence and performance, and effectiveness of
audit process;
6. Approval or any subsequent modification of transactions of the company with related
parties;
7. Scrutiny of inter-corporate loans and investments;
8. Valuation of undertakings or assets of the company, wherever it is necessary;
9. Evaluation of internal financial controls and risk management systems;
10. Reviewing, with the management, performance of statutory and internal auditors,
adequacy of the internal control systems;
11. Reviewing the adequacy of internal audit function, if any, including the structure
of the internal audit department, staffing and seniority of the official heading the
department, reporting structure coverage and frequency of internal audit;
12. Discussion with statutory auditors before the audit commences, about the nature and
scope of audit as well as post-audit discussion to ascertain any area of concern;
13. To look into the reasons for substantial defaults in the payment to the depositors,
debenture holders, shareholders (in case of non-payment of declared dividends) and
creditors;
iii. STAKEHOLDER RELATIONSHIP COMMITTEE:
The Committee has the mandate to review, redress shareholders grievances and to approve
all the share transfers.
The Composition of the Committee is as under:
Chairman:
> Mr. Akshay Sushil Goenka (Independent Director) (resigned w.e.f. 14/04/2025)
> Ms. Ria Sushil Goenka (Independent Director) (appointed w.e.f. 14/04/2025)
MEMBERS:
> Mr. Shyam Sunder Agrawal (Executive Director)
> Mr. Pawan Gupta (Independent Director)
The function of Stakeholder Relationship Committee includes the following:
• Transfer /Transmission of shares;
• Issue of duplicate share certificates;
• Review of shares dematerialized and all other related matters;
• Monitors expeditious redressal of investors' grievances;
• Non receipt of Annual Report and declared dividend; All other matters related to
shares.
The Meeting of Stakeholders Relationship Committee was held on dated 12/08/2024.
iv. VIGIL MECHANISM:
Your Company believes in promoting a fair, transparent, ethical and professional work
environment. The Board of Directors of the Company has established a Whistle Blower Policy
& Vigil Mechanism in accordance with the provisions of the Companies Act, 2013 for
reporting the genuine concerns or grievances or concerns of actual or suspected fraud or
violation of the Company's code of conduct. The said Mechanism is established for
directors and employees to report their concerns. The policy provides the procedure and
other details required to be known for the purpose of reporting such grievances or
concerns. The Vigil Mechanism Policy is attached as per ANNEXURE IV.
23. CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:
As the company is not falling under the criteria mentioned for constitution of
Corporate Social Responsibility Committee and spending CSR expenditure under Section 135
of the Companies Act, 2013, the same is not applicable to the Company.
24. QUALIFICATION GIVEN BY THE AUDITORS:
There are qualification remarks made by the Auditors of the Company in their report.
25. LOANS, GUARANTEES OR INVESTMENTS BY THE COMPANY:
The company has not given any loan or guarantee or provided security in connection with
a loan to any other body corporate during the year. However, the Company has made
investments in other Companies by acquisition of shares.
26. CONTRACT OR ARRANGEMENT WITH RELATED PARTIES:
The details of transactions/contracts/arrangements referred to in Section 188(1) of
Companies Act, 2013 entered by the Company with related party(ies) as defined under the
provisions of Section 2(76) of the Companies Act, 2013, during the financial year under
review, are furnished in Form AOC-2 and is attached as ANNEXURE V and forms part of
this Report.
27. RISK MANAGEMENT FRAMEWORK:
The Company have Risk Management framework to inform the Audit Committee and Board
members about the risk assessment and minimization procedures and periodical review to
ensure that Executive Management controls risk by means of properly designed framework.
The Company's framework of risk management process provides clear basis for informed
decision making at all levels of the organization on an ongoing basis, having duly
evaluated likely risk and their mitigation plans being controllable and within risk
appetite. There are no elements of risk, which in the opinion of the Board may threaten
the existence of the Company.
28. RISK MANAGEMENT COMMITTEE:
As per Regulation 21 of Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulation, 2015, the Board of Directors of the top 1000 listed
entities needs to constitute a Risk Management Committee. As the Company does not falls
into the aforesaid category, the Board has not constituted Risk Management Committee.
29. ANNUAL EVALUATION OF THE BOARD PERFORMANCE:
The Company has in place a policy on performance evaluation of Independent Directors,
Board, Committees and individual Directors. The Board of Directors evaluates its own
performance in terms of operations of the Company, Financial Results etc. The performance
of Committee(s) is evaluated by the Board based on effectiveness of Committee, its
functioning and decisions etc.
The Board also reviews the performance of individual Director(s) based on the
contribution of the individual Director to the Board/ Committee Meetings, participation in
discussions, inputs given in the meeting.
As required under section 178(2) of the Companies Act, 2013 and under Schedule IV to
the Companies Act, 2013 on Code of conduct for Independent Directors, a comprehensive
exercise for evaluation of the performances of every individual Director, of the Board as
a whole and its Committees has been carried by your company during the year under review
as per the evaluation criteria approved by the Board and based on guidelines given in
Schedule IV to the Companies Act, 2013.
For the purpose of carrying out performance evaluation exercise, four types of
Evaluation forms were devised in which the evaluating authority has allotted to the
individual Director, the Board as a whole, its Committees and appropriate rating as
Excellent, Very Good, Good or Satisfactory depending upon the performance.
Such evaluation exercise has been carried out on:
i) Independent Directors by the Board.
ii) Non-Independent Directors by all the Independent Directors in separate meeting held
for the purpose.
iii) the Board as a whole and its Committees by all the Independent Directors in
separate meeting held for the purpose on 12/08/2024.
iv) the Chairperson of your Company by the Independent Directors in separate meeting
held on 28/08/2024 after considering the views of the Executive/Non- Executive Directors.
v) Individual Directors by the Nomination and Remuneration Committee.
vi) The Board itself.
Having regard to the industry, size and nature of business your company is engaged in,
the evaluation methodology adopted is, in the opinion of the Board, sufficient,
appropriate and is found to be serving the purpose.
30. AUDITORS:
M/S. TODARWAL & TODARWAL LLP having firm registration no. 111009W was appointed as
Statutory Auditor of the Company via Ordinary Resolution passed in the 35th Annual General
Meeting held on September 25, 2023, to hold office from the conclusion of 35th Annual
General Meeting held for the year ended 31st March, 2023 until the conclusion of 40th
Annual General Meeting to be held for the year ended 31 st March, 2028 i.e. for the period
of Five years, on a remuneration to be fixed by the Board of Directors of the Company.
31. EQUITY SHARES WITH DIFFERENTIAL RIGHTS:
Your Company has not issued any equity shares with differential voting Rights.
32. PARTICULARS OF EMPLOYEES:
Disclosure pertaining to remuneration and other details as required under section
197(12) of the Companies Act, 2013 read with Rule 5(1) & 5(2) of the Companies
(Appointment & Remuneration of Managerial Personnel) Rules, 2014 are provided in ANNEXURE
VI which forms part of this report.
33. EMPLOYEES' STOCK OPTION PLAN:
Your Company has not issued any Employee Stock Option Plan to their employees.
34. SWEAT EQUITY SHARES:
Your Company has not issued any number of Sweat Equity Shares according to Section 54
of the Companies Act, 2013.
35. LISTING ON STOCK EXCHANGES:
Your company's equity shares are listed on The Bombay Stock Exchange, Mumbai (BSE). The
company has paid the listing fees to the stock exchanges for the financial year 2024-25.
36. SECRETARIAL AUDIT REPORT:
The Secretarial Audit Report as submitted by M/s. Akash Jain, Practising Company
Secretaries who were appointed as the Secretarial Auditors of the Company by the Board is
set out in the ANNEXURE VII to this report. There are no qualifications,
reservations or adverse remarks or any disclaimer that have been made by the Secretarial
Auditor.
37. COST AUDIT:
The maintenance of cost records as specified by the Central Government under subsection
(1) of section 148 of the Companies Act, 2013, is not applicable to the Company.
38. CORPORATE GOVERNANCE:
The Corporate Governance provision of SEBI (LODR) Regulation, 2015 is not applicable to
the Company and the same is quarterly intimated to BSE.
39. DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to sub-section (5) of Section 134 of the Companies Act, 2013 and to the best
of their knowledge and belief and according to the information and explanations obtained
/received from the operating management, your Directors make the following statement and
confirm that-
(a) in the preparation of the annual accounts, the applicable accounting standards had
been followed along with proper explanation relating to material departures;
(b) the 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 at the end of the financial year and of
the profit and loss of the company for that period;
(c) the directors had taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of this Act for safeguarding the
assets of the company and for preventing and detecting fraud and other irregularities;
(d) the directors had prepared the annual accounts on a going concern basis;
(e) the directors had laid down internal financial controls to be followed by the
company and such internal financial controls are adequate and operating effectively
(f) the directors had devised proper systems to ensure compliance with the provisions
of all applicable laws andwith aid down internal financial controls to be followed by the
company and that such systems were adequate and operating effectively.
40. DETAILS IN RESPECT OF FRAUDS REPORTED BY THE AUDITORS UNDER SECTION 143 (12) OF
COMPANIES ACT, 2013:
There are no frauds reported by the Auditor which are required to be disclosed under
Section 143 (12) of Companies Act, 2013.
41. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION.
PROHIBITION AND REDRESSAL) ACT, 2013:
a. Your Company has framed ‘Sexual Harassment Policy' and has constituted an
Internal Complaints Committee as per the requirement of Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules
The following are the details:
| Sr. No. |
Particulars |
|
| (a) |
number of complaints of sexual harassment received in the year |
NIL |
| (b) |
number of complaints disposed off during the year |
NA |
| (c) |
number of cases pending for more than ninety days |
NA |
b. Statement that the Company has complied with the Maternity Benefit Act, 1961
The Company declares that it has duly complied with the provisions of the Maternity
Benefit Act, 1961. All eligible women employees (if any) have been extended the statutory
benefits prescribed under the Act, including paid maternity leave, continuity of salary
and service during the leave period, and post-maternity support such as nursing breaks and
flexible return-to-work options, as applicable. The Company remains committed to fostering
an inclusive and supportive work environment that upholds the rights and welfare of its
women employees in accordance with applicable laws.
c. Number of employees as on the closure of the financial year with details of gender
| Particulars |
Male |
Female |
| No. of employees |
2 |
1 |
| No. of workers |
Nil |
Nil |
| Total |
2 |
1 |
42. STATEMENT REGARDING OPINION OF THE BOARD WITH REGARD TO INTEGRITY, EXPERTISE AND
EXPERIENCE (INCLUDING THE PROFICIENCY) OF THE INDEPENDENT DIRECTORS APPOINTED DURING THE
YEAR.
During the year under review, no independent directors were appointed. The Board is of
the opinion that all the Independent Directors of company possess integrity, expertise and
experience as required in the Companies Act, 2013 and has required skill set for efficient
functioning of the company.
43. DETAILS OF INSOLVENCY AND BANKRUPTCY CODE:
During the year under review, no application has been made neither is any application
pending under the Insolvency and Bankruptcy Code.
44. DETAILS REGARDING VALUATION REPORT:
During the year under review, your Company has not entered any One-Time Settlement with
Bank's or Financial Institutions and therefore, no details of Valuation in this regard is
available.
45. ACKNOWLEDGEMENT:
Your Directors appreciate and acknowledge the unstinted commitment and valuable
contribution made by the employees of the Company at all levels. The Directors also take
this as an opportunity to express their gratitude to all the Stakeholders of the Company
viz. customers, investors, banks, regulators for their continued support during the year
under review.
FOR MICROSE INDIA LIMITED |
|
| Sd/- |
Sd/- |
Shyam Sunder Agrawal |
Saurabh Garg |
Director |
Director |
DIN:00355837 |
DIN:00376890 |
| Address: 204,Tahnee Heights, 66 Nepeansea Road, Mumbai, Malabar Hill
Mumbai - 400006, Maharashtra |
Address: 204,Tahnee Heights,66 Nepeansea Road, Mumbai, Malabar Hill
Mumbai - 400006, Maharashtra |
Date: 12/08/2025 |
|
Place: Mumbai |
|
|