Directors' Report
To
The Members,
AVENIQUE Limited
(Formerly known as KDJ Holidayscapes & Resorts Limited)
Your directors have pleasure in presenting the 33rd Annual Report of your
Company together with the Audited Statements of Accounts for the year ended March 31,
2026.
FINANCIAL HIGHLIGHTS (STANDALONE & CONSOLIDATED):
|
|
|
(Amount in Lakhs) |
Particulars |
Year Ended 31.03.2026 |
Year Ended 31.03.2025 |
Year Ended 31.03.2026 |
Year Ended 31.03.2025 |
|
Standalone |
Consolidated |
Revenue from Operations |
0 |
0 |
0 |
0 |
Other Income |
0 |
1.37 |
0 |
1.37 |
Total Revenue |
0 |
1.37 |
0 |
1.37 |
Cost of Raw Materials Consumed |
0 |
0 |
0 |
0 |
Purchase of Stocks in Trade |
0 |
0 |
0 |
0 |
Changes in inventories of Finished Goods and Work in Progress |
0 |
0 |
0 |
0 |
Employee Benefits Expenses |
9.55 |
0 |
9.55 |
0 |
Finance Costs |
0 |
0 |
0 |
0 |
Depreciation and Amortization |
0 |
0.04 |
29.59 |
31.51 |
Other Expenses |
25.56 |
31.58 |
25.56 |
31.58 |
Total Expenses |
35.10 |
31.62 |
64.69 |
63.09 |
Profit/(Loss) before tax |
(35.10) |
(42.22) |
(64.69) |
(61.72) |
Tax Expense |
0 |
0 |
0 |
0 |
Net Profit/(Loss) after tax |
(35.10) |
(42.22) |
(64.69) |
(73.69) |
Other Comprehensive Income/(Expenses) |
0 |
0 |
0 |
0 |
Total Comprehensive Income for the year |
(35.10) |
(42.22) |
(64.69) |
(73.69) |
For the financial year ended 31st March 2026, your Company has reported NIL
revenue from operations and Net loss of Rs. 35.10 Lakhs as compared to previous financial
year 2024-25, Nil revenue from operations and Net loss of Rs. 42.22 Lakhs on standalone
basis.
For the financial year ended 31st March 2026, your Company has reported NIL
revenue from operations and Net loss of Rs. 64.69 Lakhs as compared to previous financial
year 2024-25, Nil revenue from operations and Net loss of Rs. 73.69 Lakhs on consolidated
basis.
BUSINESS SEGMENT/STATE OF AFFAIRS OF THE COMPANY:
Your Company was in the Hospitality business.
The Company was undergoing the Corporate Insolvency Resolution Process (CIRP) and,
pursuant to the Order dated March 4, 2025 passed by the Hon'ble National Company Law
Tribunal, Mumbai Bench, approving the Resolution Plan submitted by the Successful
Resolution Applicant, Mr. Ravikumar Gaurishankar Patel, the management and control of the
Company were handed over to the newly constituted Board of Directors with effect from
March 28, 2025. Further, the shareholders of the Company, at their meeting held on May 21,
2026, approved the alteration of the Object Clause of the Memorandum of Association of the
Company. Moreover, the company has received the approval of the Registrar of Companies
vide Certificate of Registration dated June 22, 2026.
DIVIDEND
During the financial year under review, your directors do not propose any dividend for
the year under review.
SHARE CAPITAL & LISTING
a) Issue of shares or other convertible securities:
• Authorized Share Capital:
During the financial year under review, the Authorized Share Capital of the Company
stood at Rs. 16,00,00,000/- (Rupees Sixteen Crores only) comprising of 8,00,00,000 Equity
Shares of Rs. 2/- each.
• Issued, Subscribed & Paid-Up Capital:
The Paid-up Equity Share Capital as of 31st March 2026 was 5,00,000 equity
shares of face value Rs. 2 each aggregating to Rs. 10,00,000.
Pursuant to the terms of the Resolution Plan approved by the Hon'ble National Company
Law Tribunal (NCLT), Mumbai Bench vide order dated March 04, 2025, 100% presently
outstanding equity shares were cancelled and extinguished and 25,000 equity shares were
allotted to existing public in the ratio of 1 (one) fresh equity share of face value of
Rs. 2 for every 998.76 ordinary equity shares held by them as on record date which was
fixed on April 30, 2025 and 4,75,000 equity shares of face value Rs. 2 each were allotted
to the promoter & promoter group. The said allotment was approved by Board of
Directors in their meeting held on April 18, 2025.
b) Issue of equity shares with differential rights:
During the year under review, your Company has not issued any Equity Shares with
differential rights and hence the provisions of Section 43 of the Companies Act, 2013 read
with the applicable Rules made thereunder.
c) Issue of Sweat Equity Shares:
During the year under review, your Company has not issued any Sweat Equity Shares
pursuant to the provisions of Section 54 of the Companies Act, 2013 read with the
applicable Rules made thereunder.
d) Details of Employee Stock Options:
The Company has not issued any shares under Employee's Stock Options Scheme pursuant to
the provisions of Section 62 of the Companies Act, 2013 read with the applicable Rules
made thereunder, therefore, the disclosure regarding issue of employee stock options is
not applicable.
e) Shares held in trust for the benefit of employees where the voting rights are not
exercised directly by the employees:
During the year under review, the Company has not given loan to any employee for
purchase of its own shares as per Section 67(3)(c) of Companies Act, 2013, therefore, the
disclosure as per Rule 16(4) of Companies (Share Capital and Debentures) Rules, 2014 are
not applicable.
f) Issue of debentures, bonds or any non-convertible securities:
During the year under review, the Company has not issued any debentures, bonds or any
non-convertible securities pursuant to the applicable provisions of Companies Act, 2013
read with the Rules made there under.
g) Issue of warrants:
During the year under review, the Company has not issued any warrants pursuant to the
applicable provisions of Companies Act, 2013 read with the Rules made there under.
As on March 31, 2026, none of the Directors and/or Key Managerial Person of the Company
hold instruments convertible in to Equity Shares of the Company.
The Company's Equity Shares are listed on the BSE Limited ("BSE"). The
trading in Equity Shares has been suspended due to Penal reasons, non- payment of ALF dues
and Procedural reasons. However, the company has filed an application for revocation of
the suspension with the Bombay Stock Exchange.
CORPORATE GOVERNANCE
Your directors firmly believe that good corporate governance is fundamental to the
Company's long-term success and sustainable value creation. The Company is committed to
conducting its business with integrity,
The Company continues to maintain high standards of corporate governance through an
effective Board structure, robust internal control mechanisms, timely disclosures,
compliance with applicable laws and regulations, and transparent decision-making
processes. The Board provides strategic direction and oversight to ensure that the
Company's affairs are managed in a responsible and ethical manner.
The Company has adopted and continues to comply with the Code of Conduct for the Board
of Directors and Senior Management Personnel in accordance with the provisions of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015.
Pursuant to the requirements of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, a separate Report on Corporate Governance forms part of
this Annual Report. The certificate issued by M/s Kamlesh M. Shah & Co., Company
Secretaries, confirming compliance with the conditions of Corporate Governance, is annexed
to the said Report.
CREDIT RATING OF SECURITIES
The credit rating is a financial indicator to potential investors of debt securities
such as bonds. During the year under review, your Company has not issued any debt
securities, so credit rating of securities is not applicable to the Company.
GENERAL RESERVES
During the year under review, a net loss of Rs. 35.10 Lakhs has been transferred to
General Reserves. Moreover, necessary adjustments were made as per the approved resolution
plan.
TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND (IEPF):
There was no amount liable or due to be transferred to the Investor Education and
Protection Fund during the financial year 2025-2026 ended 31st March 2026.
FINANCE AND ACCOUNTS
As mandated by the Ministry of Corporate Affairs, the financial statements for the year
ended on March 31, 2026 has been prepared in accordance with the Indian Accounting
Standards (IND AS) notified under Section 133 of the Companies Act, 2013 read with the
Companies (Accounts) Rules, 2014. The estimates and judgements relating to the Financial
Statements are made on a prudent basis, so as to reflect in a true and fair manner, the
form and substance of transactions and reasonably present the Company's state of affairs,
profits/(losses) and cash flows for the year ended March 31, 2026.
Accounting policies have been consistently applied except where a newly issued
accounting standard, if initially adopted or a revision to an existing accounting standard
requires a change in the accounting policy hitherto in use. Management evaluates all
recently issued or revised accounting standards on an ongoing basis. The Company discloses
financial results on a quarterly basis which are subjected to limited review and publishes
audited financial results on an annual basis.
As the company was under the CIRP in the FY 2024-25 and the control of the company was
handed over to the new management on 28th March 2025, the financials prepared
were based on the data which was received from the Resolution Professional.
The auditor is issued modified report (Standalone and consolidated) for the financial
year under review. PARTICULARS OF LOANS, GUARANTEES & INVESTMENTS
Details of Loans, Guarantees and Investments, if any, covered under the provisions of
Section 186 of the Companies Act, 2013 are given in the notes to the Financial Statements.
ANNUAL RETURN
In accordance with the provisions of Section 92(3) and Section 134(3)(a) of the
Companies Act, 2013, read with Rule 12 of the Companies (Management and Administration)
Rules, 2014, the Annual Return (Form MGT-7) of the Company as on March 31, 2026, will be
available on the website of the Company at https://avenique.co.in/investors/annual-return.
DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES
As on March 31, 2026, the company has two Subsidiaries, KDJ Hospitality Private Limited
and KDJ Hospitals Limited. The company holds 100% shares of KDJ Hospitality Private
Limited and 51% shares of KDJ Hospitals Limited. Further, the details are provided in Form
AOC-1 attached herewith.
In accordance with the provisions of the SEBI Listing Regulations, the Company has in
place the Policy on material subsidiaries which is available on its website at the link:
https://avenique.co.in/investors/policies.
RELATED PARTY TRANSACTIONS
The requisite details under Form AOC-2 have been provided in this Report. Suitable
disclosure as required by the Accounting Standard (Ind-AS 24) has been made in the notes
to the Financial Statements.
The Company has put in place a mechanism for certifying the Related Party Transactions
Statements placed before the Audit Committee and the Board of Directors.
The Policy on Related Party Transactions as approved by the Board of Directors has been
uploaded on the website of the Company.
In accordance with the provisions of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, the Company has in place the Policy on dealing with
Related Party Transactions which is available on its website https ://avenique. co.
in/investors/policies.
MANAGEMENT DISCUSSION & ANALYSIS
Pursuant to the requirements of Regulation 34(3) read with Part B of Schedule V of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Management
Discussion and Analysis Report, covering the Company's operational and financial
performance, industry outlook, opportunities, risks and concerns, forms an integral part
of this Annual Report.
MATERIAL CHANGES AFFECTING THE COMPANY
The Company was undergoing Corporate Insolvency Resolution Process (CIRP) and has been
revived pursuant to Resolution Plan approved by Hon'ble NCLT, Mumbai Bench vide its order
dated March 04, 2025.
Pursuant to the NCLT Order and the Board Resolution passed on April 18, 2025 all
existing shares i.e. 5,46,56,000 equity shares of Rs. 2 each held by existing shareholders
were cancelled and extinguished. Allotment of 25,000 ordinary equity shares of Rs. 2 each
was made to existing public shareholders in the ratio of 1: 998.76 i.e. 1 (one) share for
every 998.76 shares held by them as on record date i.e. 30th April 2025.
Further the Board in its meeting held on April 18, 2025, approved the allotment of
4,75,000 equity shares of Rs. 2/- each to the new Promoters & Promoter Group (As
mentioned in the Resolution Plan) of the Company.
The listing approval from BSE was granted on January 20, 2026. The company has made
trading application to exchange and is awaiting the approval.
CHANGE IN NATURE OF BUSINESS, IF ANY
There are no changes in the nature of business in the financial year 2025-26. However,
the shareholders of the Company, at their meeting held on May 21, 2026, approved the
alteration of the Object Clause of the Memorandum of Association of the Company. Moreover,
the company has received the approval of the Registrar of Companies vide Certificate of
Registration dated June 22, 2026. Moreover, the name of the company has been changed to
AVENIQUE Limited w.e.f. 10th July 2026.
BOARD EVALUATION
Pursuant to the provisions of the Companies Act, 2013 and the applicable provisions of
the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board
has carried out an annual performance evaluation of its own performance, that of its
committees and individual Directors.
The evaluation was conducted through a structured mechanism covering various aspects of
the functioning of the Board and its Committees, including composition, effectiveness of
meetings, strategic guidance, governance practices, participation of Directors, and
oversight of the Company's affairs. The performance of individual Directors was evaluated
based on parameters such as attendance, contribution to deliberations, expertise, guidance
provided to management, and safeguarding the interests of stakeholders.
The Board expressed satisfaction with the evaluation process and the overall
effectiveness of the Board, its committees, and individual Directors in discharging their
responsibilities and duties.
NUMBER OF MEETINGS OF THE BOARD
After the handover of the control of management of the company to the Board of
Directors on April 18, 2025, 9 (nine) meetings of the Board were held during FY 2025-26.
The dates of the meeting are as follows:
Sr.No. |
Date of Meeting |
Day |
Number of members attended |
1. |
April 18, 2025 |
Friday |
4 |
2. |
June 06, 2025 |
Friday |
6 |
3. |
June 07, 2025 |
Saturday |
6 |
4. |
August 21, 2025 |
Thursday |
6 |
5. |
August 26, 2025 |
Tuesday |
6 |
6. |
November 14, 2025 |
Friday |
6 |
7. |
December 31, 2025 |
Wednesday |
6 |
8. |
February 05, 2026 |
Thursday |
6 |
9. |
March 19, 2026 |
Thursday |
6 |
These meetings were conducted to discuss and review various matters relating to the
operations, performance, and governance of the Company.
MEETINGS OF THE MEMBERS
During the year under review, no general meetings were held.
BOARD COMMITTEES
The Board has following Committees, viz,
1. Audit Committee
2. Nomination and Remuneration Committee
3. Stakeholders' Relationship Committee
All Committees of the Board of Directors are constituted in line with the provisions of
the Companies Act, 2013 and applicable regulations of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015. The committees were constituted by the Board
in their Board Meeting held on June 06, 2025.
NUMBER OF MEETINGS OF THE BOARD COMMITTEES
During the financial year ended March 31, 2026, the Committees of the Board met at
regular intervals to discharge their duties and responsibilities in accordance with the
provisions of the Companies Act, 2013, the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 and other applicable laws.
The details of the meetings of the Committees held during the year are as under:
Name of Committee |
Number of Meetings Held |
Date of the Meetings held |
|
|
• June 06, 2025 |
|
|
• August 21, 2025 |
Audit Committee |
5 |
• August 26, 2025 |
|
|
• November 14, 2025 |
|
|
• February 05, 2026 |
|
|
• June 06, 2025 |
Nomination and Remuneration |
4 |
• August 26, 2025 |
Committee |
|
• November 14, 2025 |
|
|
• December 31, 2025 |
|
|
• June 06, 2025 |
Stakeholders Relationship |
4 |
• August 26, 2025 |
Committee |
|
• October 10, 2025 |
|
|
• January 27, 2026 |
The attendance of the members at the meetings of the aforesaid Committees is provided
in the Corporate Governance Report, which forms an integral part of the Annual Report. The
recommendations made by the Committees were duly considered and accepted by the Board
during the year.
MEETING OF THE INDEPENDENT DIRECTORS
There was one meeting of Independent Directors during the previous financial year
2025-26 on 05th February 2026.
Matrix setting out the skills/expertise/competence of the Board of Directors:
Sr. No Essential Core skills/expertise/competencies required for
the Company |
Core skills/expertise/competencies of all the Directors on the
Board of the Company |
1. Strategic and Business Leadership |
The Directors and especially the Managing Director have many years of
experience. |
2. Financial expertise |
The Board has eminent business leaders with deep knowledge of finance
and business. |
3. Governance, Compliance and Regulatory |
The presence of Directors with qualifications and expertise in Law and
Regulatory affairs lends strength to the Board. |
4. Knowledge and expertise of Trade and Technology |
The Directors have profound knowledge of economic Affairs, trade and
technology related matters. |
MANAGEMENT
During the financial year 2025-26, there were several changes in the composition of the
Board of Directors. Change in the composition of Board and KMP during the financial year
has been provided herein below:
Name |
Category |
Date of Appointment/ Change in designation |
Date of Resignation |
Mr. Nandish Shaileshbhai Jani |
Additional Non Executive Independent Director |
April 18, 2025 |
September 30, 2025 |
Ms. Komal Manoharlal Motiani |
Additional Non Executive Independent Director |
April 18, 2025 |
September 30, 2025 |
Mr. Hemantbhai Khodidasbhai Raval |
Managing Director |
April 18, 2025 |
|
Mr. Akash Parmar |
Chief Financial Officer |
April 18, 2025 |
- |
Ms. Heena Prajapati* |
Additional Non Executive Independent Director |
August 26, 2025 |
|
Mr. Vinit Narendrakumar Sinha* |
Additional Non Executive Independent Director |
August 26, 2025 |
|
*Further, pursuant to the provisions of Section 161 of the Companies Act, 2013, the
terms of office of Ms. Heena Prajapati and Mr. Vinit Narendrakumar Sinha as
Additional Directors came to an end on December 31, 2025. Considering their
continued association and valuable contribution to the Company, the Board reappointed them
as Additional Directors with effect from December 31, 2025, to hold office in
accordance with the provisions of the Companies Act, 2013 and the Articles of Association
of the Company.
BOARD OF DIRECTORS
In FY 2025-26, after taking over the control of the management, the board met at
regular intervals to take requisite decisions for the restoration of the company.
As on March 31, 2026, the Board comprised 6 directors, with a balanced mix of executive
and independent directors, complying with Regulation 17 of SEBI LODR (at least 33%
independent directors for a nonexecutive and non-related chairman led board). None of the
directors hold positions exceeding the limits under Regulation 17A of SEBI LODR
Regulations, 2015. All independent directors provided declarations under Section 149(6) of
the Companies Act, 2013, confirming their independence.
Following are the details of changes in Board till March 31, 2026: -
Sr. No |
Name of Director |
Designation |
DIN |
Date of Appointment |
Date of Resignation |
1. |
Mr. Hemantbhai Khodidasbhai Raval |
Managing Director |
10146164 |
28-03-2025 |
|
2. |
Mr. Akash Parmar |
Executive Director |
10130430 |
28-03-2025 |
- |
3. |
Mr. Ravikumar Gaurishankar Patel |
Non-Executive N on-Independent Director |
05340869 |
28-03-2025 |
|
4. |
Mr. Nimeshkumar Ganpatbhai Patel |
Non-Executive Non Independent Director |
10939411 |
28-03-2025 |
|
5. |
Mr. Nandish Shaileshbhai Jani |
Additional NonExecutive Independent Director |
09565657 |
18-04-2025 |
30-09-2025 |
6. |
Ms. Komal Manoharlal Motiani |
Additional NonExecutive Independent Director |
10226691 |
18-04-2025 |
30-09-2025 |
7 |
Ms. Heena Prajapati |
Additional NonExecutive Independent Director |
11225588 |
26-08-2025 |
|
8 |
Mr. Vinit Narendrakumar Sinha |
Additional NonExecutive Independent Director |
11238423 |
26-08-2025 |
|
There has been Deemed Resignation of following person in such designation in the MONITORING
COMMITTEE meeting of company:
Sr.
No |
NAME |
DESIGNATION |
DATE OF RESIGNATION |
1. |
Mr. Vinod Deora |
Managing Director |
18/04/2025 |
2. |
Mr. Madhukar Katragadda |
Director |
18/04/2025 |
3. |
Mr. Surendra Debiprasad Kedia |
Whole-Time Director |
18/04/2025 |
4. |
Mr. Dineshkumar Jalan |
Managing Director |
18/04/2025 |
5. |
Mrs. Shika Jalan |
Director |
18/04/2025 |
In the opinion of the Board, the Independent Directors possess the requisite expertise
and experience and are the persons of high integrity and repute. They fulfil the
conditions specified in the Companies Act, 2013 and the Rules made thereunder and are
independent of the management.
Further, none of the Directors of the Company are disqualified under sub-section (2) of
Section 164 of the Companies Act, 2013.
DIRECTOR RETIRING BY ROTATION
Pursuant to the provisions of Section 152(6) of the Companies Act, 2013, Mr.
Ravikumar Patel (DIN- 05340869) Executive Director of the Company, retires by
rotation at the ensuing Annual General Meeting and being eligible offers himself for
re-appointment.
He has given a declaration in terms of Section 164(2) of the Companies Act, 2013 to the
effect that he is not disqualified from being reappointed as a Director of the Company.
INDEPENDENT DIRECTORS & KMPs
Pursuant to the provisions of Section 149 of the Companies Act, 2013, the Independent
Directors of the Company are appointed for a term of up to five consecutive years and are
eligible for re-appointment for one further term of up to five consecutive years, subject
to the approval of the Members by way of a Special Resolution and appropriate disclosure
of such re-appointment in the Board's Report. In accordance with Section 152 of the Act,
Independent Directors are not liable to retire by rotation at the Annual General Meeting
of the Company.
Further, in compliance with the provisions of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, an individual shall not serve as an
Independent Director on the Boards of more than seven listed entities. However, where an
individual is serving as a Whole-time Director in any listed entity, such person may hold
office as an Independent Director in not more than three listed entities.
The Board is of the considered opinion that all the Independent Directors possess the
requisite qualifications, professional expertise, rich experience, integrity, and
independent judgment necessary to effectively discharge their duties and responsibilities.
The Board is satisfied that they fulfil the criteria of independence as prescribed under
the Companies Act, 2013, the Rules framed thereunder, and the applicable provisions of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and that they
remain independent of the management.
The Independent Directors have also furnished declarations confirming their
independence and affirmed their compliance with the Company's Code of Business Conduct and
Ethics.
DECLARATION BY INDEPENDENT DIRECTOR(S) AND RE-APPOINTMENT, IF ANY
All the Independent Directors have submitted their disclosures to the Board that they
fulfil all the requirements as stipulated in Section 149(6) of the Companies Act, 2013 and
Regulation 16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, so as to qualify themselves to be appointed as Independent Directors
under the provisions of the Companies Act, 2013 and the relevant rules. They have
confirmed that they are not aware of any circumstance or situation which exists or may be
reasonably anticipated that could impair or impact their liability to discharge their
duties. Based on the declaration received from Independent Directors, the Board of
Directors have confirmed that they meet the criteria of Independence as mentioned under
Section 149 of the Companies Act, 2013 that they are independent of the management.
POLICIES
All the Policies adopted by the Board have been mentioned in the Corporate Governance
Report.
FAMILIARISATION PROGRAM FOR DIRECTORS
The Company has in place a comprehensive familiarisation and induction programme to
enable Directors, particularly Independent Directors, to effectively discharge their roles
and responsibilities. Upon their appointment, Directors are introduced to the Company's
business operations, governance framework, organisational structure, industry environment,
and the regulatory landscape in which the Company operates.
The familiarisation programme is tailored to align with the professional background,
experience, and areas of expertise of each Independent Director. As part of the programme,
the Directors are provided with opportunities to engage with the senior leadership team,
who brief them on the Company's business model, strategic priorities, operational
performance, financial position, risk management framework, internal control systems, and
key business initiatives.
The Directors are also apprised of the roles and responsibilities of the Board and its
Committees, applicable statutory and regulatory requirements, and the Company's governance
practices and policies. These initiatives help the Directors gain a comprehensive
understanding of the Company's business, values, culture, and operating environment,
thereby enabling them to make meaningful contributions to the deliberations of the Board
and effectively oversee the affairs of the Company.
he details of the familiarization program conducted during the Year Under Review can be
accessed from Company website https://avenique.co.in/investors/familiarisation-programme.
NOMINATION & REMUNERATION POLICY
The Company has devised a Nomination and Remuneration Policy ("NRC Policy")
which inter alia sets out the guiding principles for identifying and ascertaining the
integrity, qualification, expertise and experience of the person for the appointment as
directors, key managerial personnel ("KMPs") and senior management personnel
("SMPs").
The NRC Policy has been framed with the objective-
a. To ensure that appointment of directors, KMPs and SMPs and their removals are in
compliances with the applicable provisions of the Companies Act, 2013 and the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015;
b. to set out criteria for the evaluation of performance and remuneration of directors,
KMPs and SMPs;
c. to adopt best practices to attract and retain talent by the Company; and
d. to ensure diversity of the Board of the Company
The NRC Policy of the Company can be accessed at the website of the Company at
https://aveniaue.co.in/investors/policies
DISCLOSURE OF REMUNERATION OF EMPLOYEES COVERED UNDER RULE 5(2) OF THE COMPANIES
(APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014
None of the Managerial personnel of your company, who was employed throughout the
financial year, was in receipt of remuneration in aggregate of Rupees One Crore and Two
Lakhs or more or if employed for the part of the financial year was in receipt of
remuneration of Rupees Eight Lakh and Fifty Thousand or more
per month and there were no employees in the company hence the provisions of Rule 5(2)
with respect to employees are not applicable to the company.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, TRIBUNALS OR COURTS
During the year, there was no significant material order passed during the year.
MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN THE END OF THE
FINANCIAL YEAR AND DATE OF REPORT:
After the closure of the financial year end, following material changes occurred till
the date of this report:
1. The shareholders of the company have approved the change of name of the company from
KDJ Holidayscapes & Resorts Limited to Avenique Limited subject to the
approval of Registrar of Companies. Moreover, the Registrar of Companies have approved the
application for change in name of the company vide Certificate of Incorporation dated 10th
July 2026.
2. The shareholders of the company also approved the change in object clause of the
company and adoption of new set of Memorandum of Association. The change in objects of the
company was also approved by the Registrar of Companies vide Certificate of Registration
dated June 22, 2026.
3. Mr. Nimeshkumar Ganpatbhai Patel has resigned as Non-Executive Director of the
company w.e.f April 22, 2026 and Ms. Neha Kanwar Bhati has been appointed as Additional
Director of the company w.e.f. April 22, 2026 and her appointment was regularised in the
Annual General Meeting of the company held on May 21, 2026.
4. Mr. Hemantbhai Khodidasbhai Raval (as Managing Director) and Mr. Akash Parmar (as
executive director and CFO) have resigned from the Board dated July 15, 2026 and Mr.
Ravikumar Patel has been appointed as Managing Director of the company subject to members
approval in ensuing Annual General Meeting.
5. Mr. Purvikkumar Bhagvanbhai Patel has been appointed as Executive Director and CFO
of the company w.e.f. 15th July 2026.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 134(5) of the Companies Act, 2013 the Board of
Directors confirms that:
1. In the preparation of the annual accounts, for the year ended 31st March
2026, all the applicable accounting standards prescribed by the Institute of Chartered
Accountants of India have been followed along with proper explanation relating to material
departures, if any;
2. 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 as at March 31, 2026 and of the profit of
the Company for the year ended on that date;
3. that the Directors have 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;
4. that the Directors had prepared the annual accounts on a going concern basis;
5. that the Directors had laid down internal financial controls to be followed by the
Company and that such internal financial controls are adequate and were operating
effectively; and
6. that the Directors had devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and operating
effectively.
REGISTRAR AND SHARE TRANSFER AGENT
The Company has appointed Bigshare Services Private Limited as its Registrar and
Transfer Agent ("RTA") for handling share registry and investor-related
services. The RTA is registered with SEBI and has been efficiently managing all related
activities during the year under review.
BUSINESS RISK MANAGEMENT
The company has put in place a mechanism to identify, assess, monitor and mitigate
various risks to key business objectives. Major risks identified by the businesses and
functions are systematically addressed through mitigating actions on a continuing basis.
Risk management is embedded in your Company's operating framework. Your Company
believes that managing risks helps in maximizing returns. The Company's approach to
addressing business risks is comprehensive and includes periodic review of such risks and
a framework for mitigating controls and reporting mechanism of such risks.
Further, the Company is not required to constitute Risk Management Committee under SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015.
STATEMENT SHOWING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF THE
COMPANY
Business Risk Evaluation and Management is an on-going process within the organization.
In compliance with the provisions of Section 134(3)(n) of the Companies Act, 2013, the
Board of Directors has formulated and adopted the Risk Management Policy to identify,
monitor and minimize risks while identifying business opportunities which enables the
Company to ensure sustainable business growth with stability and to promote a proactive
approach in reporting, evaluating and resolving risks associated with the business.
INTERNAL AUDIT AND INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY
Based on the framework of internal financial controls and compliance systems
established and maintained by the Company, the work performed by the internal, statutory
and secretarial auditors and external consultants, including the audit of internal
financial controls over financial reporting by the statutory auditors and the reviews
performed by management and the relevant board committees, including the audit committee,
the Board is of the opinion that the Company's internal financial controls were adequate
and effective during FY 2025-26.
The Internal Audit function is carried out by the Company's independent Internal
Auditor, to M/s. Hemal P. Doshi & Associates, Chartered Accountant (FRN - 151809W),
who conduct periodic audits of all significant operational and financial areas and assess
the adequacy and effectiveness of internal controls. The observations and recommendations
of the Internal Auditor are reviewed by the Audit Committee, and necessary corrective
actions are implemented.
Based on the report submitted by to M/s. Hemal P Doshi & Associates, Chartered
Accountant (FRN - 151809W), the Audit Committee and the Board are satisfied that the
Company's internal financial controls over financial reporting are adequate and operating
effectively during the year under review.
VIGIL MECHANISM / WHISTLE BLOWER POLICY
The Company has a Whistle Blower Policy to report genuine concerns or grievances. The
Whistle Blower Policy has been posted on the website of the Company
https://avenique.co.in/investors/policies
BOARD DIVERSITY POLICY
The Policy on Diversity of Board aims to set out the approach to achieve diversity on
the Board of Directors of the Company. Building a Board of diverse and inclusive culture
is integral to the success of the "Company".
The Board considers that its diversity, including gender diversity, is a vital asset to
the business.
Inclusive and diverse Board allows more wider perspectives to be integrated when
brainstorming, problem solving and developing new ideas for the growth of company
business.
The Board Diversity Policy of the Company is available on the website of the Company at
https://avenique.co.in/investors/policies
AUDIT AND AUDITORS
? STATUTORY AUDITORS
The Statutory Audit for FY 2024-25 was conducted by M/s. DD Shah Patel & Co.,
Chartered Accountants (Firm Registration No.: 153136W). The Monitoring Committee of
the Company at their meeting held on the 13th August 2025, had approved the
appointment of M/s. CSM & Co. LLP, Chartered Accountants (Firm Registration No.:
100715W), to conduct the statutory audit and Limited review for each quarter from
financial year 2019-20 to financial year 2023-24 and re-appointed to conduct the statutory
audit and Limited review for each quarter from financial year 2024-25 to financial year
2028-29. M/s. CSM & Co. LLP have tendered their resignation on 21st August,
2025, pursuant to which the Monitoring Committee of the Company at their meeting held on
the 21st August 2025, had approved the appointment of M/s DD Shah Patel &
Co., Chartered Accountants (Firm Registration No.: 153136W), to conduct the statutory
audit and Limited review for each quarter from financial year 2019-20 to financial year
2023-24 and re-appointed them to conduct the statutory audit and Limited review for each
quarter from financial year 2024-25 to financial year 2028-29.
The Audit Report issued by M/s DD Shah Patel & Co., along with the financial
statements for the financial year 2025-26 forms part of the Annual Report. The notes to
the financial statements, as referred to in the Auditor's Report, are self-explanatory and
do not require any further clarification or comment.
The Auditor has carried out statutory Audit of the standalone and consolidated
financials and has issued a modified opinion (disclaimer of opinion).
EXPLANATIONS IN RESPONSE TO AUDITORS' QUALIFICATIONS:
The Auditors' Report for the financial year 31st March, 2026 is modified,
i.e. It contains the qualification as follows:
Sr No. Audit Qualification (Standalone) |
Type of Audit Qualification |
Comment of the Board on the Qualification |
| 1 Non-Confirmation of Non-Current Investments: The Company has
disclosed Non-Current Investments amounting to Rs. 892.96 Lakhs. However, confirmations,
supporting documents, valuation reports, and other relevant records relating to such
investments were not made available to us. These balances have been considered based on
data and records provided by the Resolution Professional ("RP") pursuant to the
acquisition of the Company under the resolution process approved by National Company Law
Tribunal. Accordingly, we were unable to verify the existence, valuation, and
recoverability of the said investments and determine the consequential impact, if any, on
the financial statements. |
Disclaimer of Opinion |
KDJ Holidayscapes & Resorts Limited was admitted into the Corporate
Insolvency Resolution Process (CIRP) pursuant to an application filed under Section 7 of
the Insolvency and Bankruptcy Code, 2016 by TJSB Sahakari Bank Limited, which was admitted
by the National Company Law Tribunal vide order dated 23rd September, 2019. |
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The Resolution Plan submitted by the Successful Resolution Applicant, Mr.
Ravikumar Gaurishankar Patel, was approved by the Committee of Creditors with 100% voting
share and was subsequently implemented under the supervision of the Implementation and
Monitoring Committee (IMC). The management of the Company was handed over to the Board on
28th March, 2025, and the new Board of Directors was constituted with effect from 18th
April, 2025. |
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Since the Company was under CIRP until FY 202425, the present management
has relied upon the records and data made available by the Resolution Professional. |
| 2 Deferred Tax Assets: The Company has recognized Deferred Tax
Assets amounting to Rs. 52.09 Lakhs. However, detailed workings, supporting documents,
future taxable income assessment, and other relevant records substantiating the
recognition and recoverability of such Deferred Tax Assets were not made available to us.
The said balances are based on records/data provided by the Resolution Professional
("RP") upon acquisition of the Company by the new promoter under the NCLT
approved resolution plan. Hence, we are unable to comment on the correctness and
recoverability of the said Deferred Tax Assets and the consequential impact, if any, on
the financial statements. |
Disclaimer of Opinion |
KDJ Holidayscapes & Resorts Limited was admitted into the Corporate
Insolvency Resolution Process (CIRP) pursuant to an application filed under Section 7 of
the Insolvency and Bankruptcy Code, 2016 by TJSB Sahakari Bank Limited, which was admitted
by the National Company Law Tribunal vide order dated 23rd September, |
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2019. The Resolution Plan submitted by the Successful Resolution
Applicant, Mr. Ravikumar Gaurishankar Patel, was approved by the Committee of Creditors
with 100% voting share and was subsequently implemented under the supervision of the
Implementation and Monitoring Committee (IMC). The management of the Company was handed
over to the Board on 28th March, 2025, and the new Board of Directors was constituted with
effect from 18th April, 2025. Since the Company was under CIRP until FY 202425, the
present management has relied upon the records and data made available by the Resolution
Professional. |
Sr No. Audit Qualification (Consolidated) |
Type of Audit Qualification |
Comment of the Board on the Qualification |
| 1 Non-Confirmation of Non-Current Investments: The Parent company
has disclosed Non-Current Investments amounting to Rs. 892.96 Lakhs. However,
confirmations, supporting documents, valuation reports, and other relevant records
relating to such investments were not made available to us. These balances have been
considered based on data and records provided by the Resolution Professional
("RP") pursuant to the acquisition of the Company under the resolution process
approved by National Company Law Tribunal. |
Disclaimer of Opinion |
KDJ Holidayscapes & Resorts Limited was admitted into the Corporate
Insolvency Resolution Process (CIRP) pursuant to an application filed under Section 7 of
the Insolvency and Bankruptcy Code, 2016 by TJSB Sahakari Bank Limited, which was admitted
by the National Company Law Tribunal vide order dated 23rd September, 2019. The Resolution
Plan submitted by the Successful Resolution Applicant, Mr. |
| Accordingly, we were unable to verify the existence, valuation, and
recoverability of the said investments and determine the consequential impact, if any, on
the financial statements. |
|
Ravikumar Gaurishankar Patel, was approved by the Committee of Creditors
with 100% voting share and was subsequently implemented under the supervision of the
Implementation and Monitoring Committee (IMC). The management of the Company was handed
over to the Board on 28th March, 2025, and the new Board of Directors was constituted with
effect from 18th April, 2025. Since the Company was under CIRP until FY 202425, the
present management has relied upon the records and data made available by the Resolution
Professional. |
| 2. Deferred Tax Assets: The Parent company has recognized Deferred
Tax Assets amounting to Rs. 52.09 Lakhs. However, detailed workings, supporting documents,
future taxable income assessment, and other relevant records substantiating the
recognition and recoverability of such Deferred Tax Assets were not made available to us.
The said balances are based on records/data provided by the Resolution Professional
("RP") upon acquisition of the Company by the new promoter under the NCLT
approved resolution plan. Hence, we are unable to comment on the correctness and
recoverability of the said Deferred Tax Assets and the consequential impact, if any, on
the financial statements. we are unable to comment on the correctness and recoverability
of the said Deferred Tax Assets and the consequential impact, if any, on the financial
statements. |
Disclaimer of Opinion |
KDJ Holidayscapes & Resorts Limited was admitted into the Corporate
Insolvency Resolution Process (CIRP) pursuant to an application filed under Section 7 of
the Insolvency and Bankruptcy Code, 2016 by TJSB Sahakari Bank Limited, which was admitted
by the National Company Law Tribunal vide order dated 23rd September, 2019. The Resolution
Plan submitted by the Successful Resolution Applicant, Mr. Ravikumar Gaurishankar Patel,
was approved by the Committee of Creditors with 100% voting share and was subsequently
implemented under the supervision of the Implementation and Monitoring Committee (IMC).
The management of the Company was handed |
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over to the Board on 28th March, 2025, and the new Board of Directors was
constituted with effect from 18th April, 2025. Since the Company was under CIRP until FY
202425, the present management has relied upon the records and data made available by the
Resolution Professional. |
| 3. Non-Availability of Financial Information of Subsidiary and
Non-confirmation of Balances |
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|
| : The Parent company has considered investments and/or financial
information relating to its subsidiary company in the consolidated financial statements.
However, the financial statements, balances, supporting records, confirmations, and other
relevant documents of the subsidiary company were not made available to us for our audit
and verification. These balances and disclosures have been considered based on data and
records provided by the Resolution Professional ("RP") pursuant to the
acquisition of the Company under the resolution process approved by the National Company
Law Tribunal. |
Disclaimer of Opinion |
KDJ Holidayscapes & Resorts Limited was admitted into the Corporate
Insolvency Resolution Process (CIRP) pursuant to an application filed under Section 7 of
the Insolvency and Bankruptcy Code, 2016 by TJSB Sahakari Bank Limited, which was admitted
by the National Company Law Tribunal vide order dated 23rd September, 2019. The Resolution
Plan submitted by the Successful Resolution Applicant, Mr. Ravikumar Gaurishankar Patel,
was approved by the Committee of Creditors with 100% voting share and was subsequently
implemented under the supervision of the Implementation and Monitoring Committee (IMC). |
| Accordingly, we were unable to verify the accuracy, completeness,
existence, and recoverability of the balances relating to the subsidiary company and
determine the consequential impact, if any, on the consolidated financial statements. |
|
The management of the Company was handed over to the Board on 28th March,
2025, and the new Board of Directors was constituted with effect from 18th April, 2025.
Since the Company was under CIRP until FY 202425, the present management has relied upon
the records and data made available by |
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the Resolution Professional. |
The Statutory Auditors have not reported any incident of fraud to the Audit Committee
of the Company during the financial year under review.
? SECRETARIAL AUDITORS
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the board has
appointed M/s Vinay Terse & Associates Company Secretaries in Practice in
its meeting held on June 06, 2025 to undertake the Secretarial Audit of the Company
from financial year 2019-20 to financial year 2023-24 and then re-appointed then for the
Secretarial Audit of the Company from financial year 2024-25 to financial year 2028-29.
The appointment was also ratified by the Implementation and Monitoring Committee in its
meeting held on August 13, 2025. However, the auditor tendered his resignation w.e.f.
April 22, 2026 and the board has appointed M/s Avni & Associates as Secretarial
Auditor in the same meeting of board held on April 22, 2026 for a period of 5 years
starting from FY 2025-26 to FY 2029-30. The same has been ratified by the shareholders in
their meeting held on May 21, 2026.
The Report of the Secretarial Audit Report issued by M/s Avni & Associates in
the prescribed Form MR-3 is annexed in this Annual Report.
? INTERNAL AUDITORS
The Company has established an adequate and effective system of internal financial
controls and risk management commensurate with the nature, size and complexity of its
operations. These controls are designed to ensure the orderly and efficient conduct of
business, safeguarding of assets, prevention and detection of frauds and errors, accuracy
and completeness of accounting records, and timely preparation of reliable financial
information.
The internal audit function of the Company is carried out by M/s Hemal P. Doshi
& Associates (FRN: 151809W), Internal Auditors, who periodically review the
adequacy and effectiveness of the internal control framework, operational processes, risk
management practices and compliance mechanisms. Their observations and recommendations are
aimed at strengthening the control environment and enhancing operational efficiency.
The Audit Committee regularly reviews the internal audit reports, adequacy of internal
control systems and the effectiveness of corrective actions taken by the management.
Significant audit observations and the status of implementation of recommendations are
periodically placed before the Audit Committee and the Board, thereby providing assurance
on the effectiveness of the Company's internal control and governance framework.
DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
& REDRESSAL) ACT 2013 READ WITH RULES
The Company has a policy on Prevention of Sexual Harassment at Workplace in place. The
company has no Female Employees; it is beyond the practicality to constitute a local
compliance committee but a system has been put in place to protect Female Employee(s) from
sexual harassment. During the year Company has not received any complaint of harassment.
COMPLIANCE WITH MATERNITY BENEFIT ACT, 1961
The Company has complied with the provisions of the Maternity Benefit Act, 1961,
including all applicable amendments and rules framed thereunder. The Company is committed
to ensuring a safe, inclusive, and supportive workplace for women employees. All eligible
women employees are provided with maternity benefits as prescribed under the Maternity
Benefit Act, 1961, including paid maternity leave, nursing breaks, and protection from
dismissal during maternity leave.
The Company also ensures that no discrimination is made in recruitment or service
conditions on the grounds of maternity. Necessary internal systems and HR policies are in
place to uphold the spirit and letter of the legislation.
STATUTORY INFORMATION AND OTHER DISCLOSURES
The information regarding Conservation of Energy, Technology Absorption, Adoption and
Innovation, as defined under section 134(3)(m) of the Companies Act, 2013 read with Rule
8(3) of the Companies (Accounts) Rules, 2014, is reported to be NIL.
The Disclosure required under Section 197(12) of the Act read with the Rule 5(1) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is annexed
as Annexure ‘III' and forms an integral part of this Report. A statement comprising
the names of top employees in terms of remuneration drawn and every person employed
throughout the year, who were in receipt of remuneration in terms of Rule 5(2) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed as
Annexure ‘V' and forms an integral part of this annual report. The above Annexure is
not being sent along with this annual report to the members of the Company in line with
the provisions of Section 136(1) of the Act. Members who are interested in obtaining these
particulars may write to the Company Secretary at the Registered Office of the Company.
The aforesaid Annexure is also available for inspection by Members at the Registered
Office of the Company, 21 days before and up to the date of the ensuing Annual General
Meeting during the business hours on working days.
None of the employees listed in the said Annexure is a relative of any Director of the
Company. None of the employees hold (by himself or along with his spouse and dependent
children) more than two percent of the Equity Shares of the Company.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
As per the provisions of Section 135 of the Companies Act, 2013, read with rules framed
there under, every company including its holding or subsidiary and a foreign company,
which fulfils the criteria specified in sub-section (1) of section 135 of the Act shall
comply with the provisions of Section 135 of the Act and its rules.
Since the Company is not falling under any criteria specified in sub-section (1) of
section 135 of the Act, your Company is not required to constitute a Corporate Social
Responsibility ("CSR") Committee.
BUSINESS RESPONSIBILITY REPORT
As the Company is not among top 500 or 1000 Companies by turnover on Stock Exchanges,
the disclosure of Report under of Regulation 34(2) of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations,2015 is not applicable to the Company for the year
under review.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The Company has not earned or used foreign exchange earnings/outgoings during the year
under review.
PUBLIC DEPOSITS
During the Financial Year under review, the Company has neither invited nor accepted
any deposits within the meaning of Section 73 and 74 of the Companies Act, 2013 read with
Companies (Acceptance of Deposit) Rules, 2014 other than exempted Deposits as prescribed
under the Companies Act, 2013.
As such, no specific details prescribed in Rule 8 of the Companies (Accounts) Rules,
2014 (as amended) are required to be given or provided.
MAINTENANCE OF COST RECORDS
The maintenance of cost records for the services rendered by the Company is not
required pursuant to Section 148(1) of the Companies Act, 2013 read with Rule 3 of
Companies (Cost Records and Audit) Rules, 2014.
REPORTING OF FRAUDS BY AUDITORS
During the year under review, the Statutory Auditors and the Secretarial Auditors have
not reported any instances of frauds committed in the Company by its officers or employees
of Audit Committee under Section 143(12) of the Companies Act, 2013, details of which
needs to be mentioned in this Report.
REPORT ON CORPORATE GOVERNANCE
As per Regulation 34(3) read with Schedule V of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, a separate section on corporate governance
practices followed by the Company, together with a certificate from the Company's Auditors
confirming compliance forms an integral part of this Report.
ANNUAL SECRETARIAL COMPLIANCE REPORT
A report on secretarial compliance by M/s Avni & Associates for the FY
2025-26 has been submitted with the stock exchange. The same can be access at
https://avenique.co.in/investors/secretarial-compliance-report.
APPOINTMENT OF "DESIGNATED PERSONS" FOR FURNISHING INFORMATION TO THE
REGISTRAR OF COMPANIES OR ANY OTHER AUTHROTIY WITH RESPECT TO BENEFICIAL INTERESTS IN THE
SHARES OF THE COMPANY
During the Financial year under review, the Company has appointed Mr. Hemantbhai
Khodidasbhai Raval (DIN: 10146164), Managing Director of the Company, as the
"Designated Person" responsible for furnishing and extending co-operation for
providing information to the concerned Registrar of Companies or any other authorized
officer with respect to beneficial interest in shares of Company under the Act.
GENDER-WISE COMPOSITION OF EMPLOYEES
In alignment with the principles of diversity, equity, and inclusion (DEI), the Company
discloses below the gender composition of its workforce as on the March 31, 2026.
Male Employees: 3 Female Employees: 0 Transgender Employees: 0
This disclosure reinforces the Company's efforts to promote an inclusive workplace
culture and equal opportunity for all individuals, regardless of gender.
DOWNSTREAM INVESTMENT
The Company neither have any Foreign Direct Investment (FDI) nor invested as any
Downstream Investment in any other Company in India.
AUDIT TRAIL APPLICABILITY (AUDIT AND AUDITORS) RULES 2014-RULE 11 OF THE COMPANIES ACT
2013.
The Company has maintained its books of account for the financial year ended March 31,
2026, using an accounting software that incorporates an audit trail (edit log) feature.
This facility ensures that all relevant transactions recorded in the software are tracked,
with details of any additions, modifications, or deletions, providing transparency and
accountability in accordance with the requirements of Rule 11 of the companies (Audit and
Auditors) Rules, 2014.
COMPLIANCE WITH SECRETARIAL STANDARDS
The Board of Directors affirms that the Company has complied with the applicable
mandatory Secretarial Standards issued by the Institute of Company Secretaries of India.
OTHER DISCLOSURE
During the financial Year Under Review, disclosure with respect to details of
difference 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
reason thereof is not applicable.
DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016
During the financial year under review, there were no applications made or proceedings
pending in the name of Company under the Insolvency and Bankruptcy Code, 2016.
DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT ON ONE TIME SETTLEMENT AND VALUATION
WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS
During the financial year under review, there has been no one time settlement of loans
taken from the Banks or Financial Institutions.
FAILURE TO IMPLEMENT ANY CORPORATE ACTION
The Company has not failed to complete or implement any corporate action between the
end of the Financial Year to which this Financial Statements relates and date of this
Report.
CAUTIONARY STATEMENT
Statements in this Directors' Report and Management Discussion and Analysis describing
the Company's objectives, projections, estimates, expectations or predictions may be
"forward-looking statements" within the meaning of applicable securities laws
and regulations. Actual results could differ materially from those expressed or implied.
APPRECIATION
Your directors wish to place on record their appreciation towards the contribution of
all the employees of the Company and their gratitude to the Company's valued customers,
bankers and members for their continued support and confidence in the Company.
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By order of the Board |
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For AVENIQUE Limited (Formerly known as KDJ
HOLIDAYSCAPES & RESORTS LIMITED |
Date: July 15, 2026 |
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Place: Ahmedabad |
Sd/- |
Sd/- |
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Hemantbhai Khodidasbhai |
Ravikumar Patel Raval |
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Managing Director |
Director |
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DIN: 10146164 |
DIN: 05340869 |
Registered Office: |
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228/5-B, Akshay Mittal, Mittal Industrial Estate |
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Andheri Kurla road, Marol, Andheri (East), |
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Mumbai City, Maharashtra, India,400059 |
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Corporate Office: |
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A-1217 Titanium Business Park, |
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B/h Divyabhaskar Press Makarba, Jivraj Park, |
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Ahmedabad, Gujarat, India, 380051 |
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CIN: L10790MH1993PLC071710 |
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E-mail Id: COMPLIANCE.KDJ@GMAIL.COM |
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