(For the Financial year ended on 31st March 2025)
To, The Members
REETECH INTERNATIONAL LIMITED
(Formerly known as Reetech International Cargo and Courier Limited)
The Board of Directors are pleased to present the 17th Annual Report on the
business and operations of your Company, “Reetech International Limited”
together with the Audited Financial Statements for the financial year ended 31st
March, 2025 and on the state of affairs of the Company. In line with the requirements of
the Companies Act, 2013 and the rules framed thereunder and SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, this report covers the financial results and
other developments during April 01, 2024 to March 31, 2025.
FINANCIAL RESULTS:
The Company's Financial Performance on standalone and consolidated basis for the
financial year ended on 31st March, 2025 under review along with previous
year's figures are given hereunder:
Particulars |
Standalone (Rs. in Lac's) |
Consolidated (Rs. In Lac's) |
| 2024-25 |
2023-24 |
2024-25 |
2023-24 |
Net Sales |
1192.61 |
2927.32 |
1192.61 |
2927.32 |
Other Income |
137.61 |
100.36 |
137.61 |
100.36 |
Total Income |
1330.23 |
3027.68 |
1330.23 |
3027.68 |
Less-Total expenses |
(1357.13) |
(2882.53) |
(1357.13) |
(2882.53) |
Profit before exceptional item |
(26.90) |
145.15 |
(26.90) |
145.15 |
Less: CSR Provision |
- |
2.68 |
- |
2.68 |
Profit before taxation |
(26.90) |
142.47 |
(26.90) |
142.47 |
Share of profits from Associate company |
- |
- |
(408.15) |
2.73 |
Profit Before tax after considering Profit from |
- |
- |
(435.05) |
145.20 |
Associates Company |
|
|
|
|
Less- Tax Expenses |
- |
43.72 |
- |
43.72 |
Deferred tax |
(1.53) |
(2.60) |
(1.53) |
(2.60) |
Profit after Taxation |
(25.37) |
101.36 |
(433.51) |
104.09 |
EPS (In Rs.)
PARTICULARS |
Standalone |
Consolidated |
Basic Earnings per Share |
(0.60) |
2.40 |
(10.26) |
2.46 |
PERFORMANCE OF THE COMPANY:
The company has incurred profit in our pre executed deals completed in the first and
second quarter of the financial year 2024-2025. Thus Company's half yearly Financial
Statements reflected a Profit of Rs. 8.97 Lakhs (PBT) in its first half yearly Financial
Results for the period ended as on September 30, 2024. The company in the second half
yearly performance for the period ended as on March 31, 2025, and the profit before taxes
stood at Loss of Rs. (35.87) Lakhs.
The company's Annual Financial Results as on 31st March, 2025 reported its revenue from
operations from trading of imported coal to Rs.1192.61 lakhs which is decline by 59.25% as
compared Rs. 2927.32 lakhs reported as on financial year end 31st March, 2024.
TRANSFER TO RESERVES:
The appropriations to General Reserve for the Financial Year ended March 31, 2025 as
per the financial statements are:
Particulars |
Standalone |
Consolidated |
| (In Rs Lac's) |
(In Rs. Lac's) |
Balance of Reserve at the beginning of the year |
270.12 |
363.99 |
Add: Net profit for the year |
(25.37) |
(433.51) |
Less: Bonus Issued |
- |
- |
Balance of Reserve at the end of the year |
244.75 |
(69.52) |
DISCLOSURES OF AMOUNTS, IF ANY, TRANSFER TO ANY RESERVES
Loss of Rs. 25.37 Lakhs has been transferred to the general reserve during the
year."
DIVIDEND:
The company regrets its inability to distribute any dividend to its shareholders as
company has not attaining certain amount of profit as much as required .Thus provisions of
section 125(2) of the companies Act, 2013 do not apply.
SHARE CAPITAL:
Your Company during the financial year 2024-25, has increased the authorized capital
from Rs. 6,00,00,000/- (Rupees Six Crores Only) divided into 60,00,000, (Sixty Lakhs)
Equity Shares of Rs. 10/- (Rupees Ten Only). To Rs. 15,00,00,000/- (Rupees fifteen Crores
Only) divided into 1,50,00,000, (One Crore fifty Lakhs) Equity Shares of Rs. 10/- (Rupees
Ten Only).
As known to all of us, the above proposals were duly passed in the Annual General
Meeting held on 27th September, 2024, and it was resolved to alter the
Memorandum and Articles of Association. All the formalities regarding alterations have
been duly completed.
The Paid-up share Capital of the Company Rs. 4,22,71,000 (Rupees Four Crores Twenty-two
Lakhs Seventy-one Thousand only) divided into 42, 27,100 (Forty-two Lakhs Twenty-seven
Thousand One Hundred) Equity share of Rs. 10/- each.
DEPOSITS FROM PUBLIC:
Your Company has not accepted any Deposits under the applicable provisions of Companies
Act, 2013 and is therefore not required to give any disclosure regarding the same.
CHANGE IN THE NAME OF THE COMPANY
There has been Change in the Name of the Company from Reetech International Cargo and
Courier Limited to Reetech International Limited in the Extra-Ordinary General Meeting of
the Company held on 28th March, 2025. Certificate of Incorporation pursuant to
name change has been received on dated 25th April, 2025.
CHANGES IN THE NATURE OF BUSINESS:
There have been no changes in the main objects & nature of business of your company
during the financial year ended March 31, 2025.
The company with its vision of expansion into other segments of trading for the
purposes of dealing in or trading in iron-ore products has applied license to grant of
Permit for Storage/Warehousing of Iron-Ore from the Mining department, Raipur
Chhattisgarh. Mining department has moved the company's file to the Pollution Control
department and Raipur Tehsil Office for submission of their Inspection report and thus
report is awaited and pending for submission by their end.
MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY
OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENTS RELATE
AND THE DATE OF THE REPORT:
The Following material changes and commitments have occurred between the end of the
financial year to which these financial statements relate and the date of the report and
their impact on financial position of the company are as follows:
1. During the year the company has increased the authorized capital from Rs.
6,00,00,000/- (Rupees Six Crores) divided into 60,00,000, (Sixty Lakhs) Equity Shares of
Rs. 10/- (Rupees Ten Only). To Rs. 15,00,00,000/- (Rupees Fifteen Crores) divided into
1,50,00,000, (One Crore fifty Lakhs) Equity Shares of Rs. 10/- (Rupees Ten Only).
2. The Company has availing financial assistance of Car Loan from Axis Bank,
Raipur Branch, in terms of Bank sanction letter dated 16.04.2024. The impact on the
financial position of the company is to the extent of outstanding balance of principal
& interest cost & foreclosure charges charged to the company.
3. The Company has availing financial assistance of Car Loan from Mercedes Benz
Financial Services in terms of sanction letter dated 06.11.2024. The impact on the
financial position of the company is to the extent of outstanding balance of principal
& interest cost & foreclosure charges charged to the company.
4. There has been termination of Joint development agreement dated 29.08.2024
and execution of investment agreement dated 29.08.2024, with M/S AIM Infrastructure. On
mutually terms and conditions.
5. Security Deposit Amount at the time of listing has been fully recovered on
the month of May, 2025.
6. The members of the Company in pursuance to section 185 of the Companies Act,
2013 has passed special resolution in the AGM held on 27th September, 2024 for the for
advancing of loan, including any loan represented by a book debt, or give any guarantee or
provide any security in connection with any loan taken by any person in whom any of the
director of the Company is interested, up to a loan amount of or guarantee or security
amount of up to Rs. 20,00,00,000/- (Rupees Twenty Crore Only) to group companies in which
Directors are interested: - M Ahuja Project (India) Private limited.
DIRECTORS & KEY MANAGERIAL PERSONNEL:
The Company has a right mix of Board of Directors. The Structure and Composition of
Board has optimum number of executive and non-executive directors and key Managerial
Personnel to have good governance and to carry out the Board Functions efficiently and
effectively.
The Detailed below is the Composition of Board of Directors & KMP as on 31/03/2025:
Name of Director |
DIN |
Designation |
Date of original Appointment |
Term of Appointm ent |
Details of Meeting in which reappointed/ Change in designation |
Shri Mahendra Ahuja |
00247075 |
Managing Director |
18/12/2008 |
5 years |
Appointed as Chairman & MD in Extra-Ordinary General Meeting held
on 18/06/2022. |
Smt. Roma Ahuja |
00247153 |
Director |
18/12/2008 |
- |
Change in Designation from non-executive director to Executive
Director in Board meeting dated 11/06/2022. |
Shri Vijay Kumar Khilnani |
09308716 |
Director |
07/09/2021 |
- |
Change in Designation from executive director to Non-Executive
Director in Board meeting dated 11/06/2022. |
Shri Manish Kumar |
09614422 |
Independent Director |
18/06/2022 |
5 years |
Extra-Ordinary General Meeting held dated 18/06/2022. |
Shri Mukesh Chandwani |
09616819 |
Independent Director |
18/06/2022 |
5 years |
Extra-Ordinary General Meeting held dated 18/06/2022. |
Shri Shakti Sinha |
BNSP4790R |
Chief Financial Officer |
11/06/2022 |
- |
Board meeting dated 11/06/2022. |
Smt. Shruti Sharma |
CHYPS4341B |
Company Secretary |
26/08/2023 |
- |
Board meeting dated 26/08/2023. |
In view of Section 152(6) of the Companies Act, 2013 and the rules made there under,
not less than two-thirds of the total number of directors of public company shall be
liable to retire by rotation out of which one-third shall accordingly retire at every
ensuing annual general meeting and being eligible can offer themselves for re-appointment
at every annual general meeting.
Consequently, Mr. Vijay Kumar khilnani, non-executive director of the company will
retire by rotation at the ensuing annual general meeting and being eligible offer himself
for re-appointment in accordance with the provisions of the Companies Act, 2013. Directors
declare that no directors are disqualified from being appointed as Director of the Company
under Section 164 of the Companies Act, 2013.
COMMITTEE OF BOARDS:
The Board of Directors functions through the following four committees of the Company.
All the Committee's of the Board are constituted on July 15th, 2022.
Name of Committee |
Chairman |
Members |
Nature Of Directorship |
Audit Committee |
Mr. Manish Kumar |
Mr. Manish Kumar |
Independent Director |
| Mr. Mukesh Chandwani |
Independent Director |
| Mrs. Roma Ahuja |
Executive Director |
Nomination & Remuneration Committee |
Mr. Manish Kumar |
Mr. Manish Kumar |
Independent Director |
| Mr. Mukesh Chandwani |
Independent Director |
| Mr. Vijay Kumar Khilnani |
Non-Executive Director |
Corporate Social Responsibility |
Mr. Mahendra Ahuja |
Mr. Mahendra Ahuja |
Managing Director |
| Mr. Manish Kumar |
Independent Director |
| Mrs. Roma Ahuja |
Executive Director |
Stakeholder Relationship Committee |
Mr. Manish Kumar |
Mr. Manish Kumar |
Independent Director |
| Mr. Mukesh Chandwani |
Independent Director |
| Mrs. Roma Ahuja |
Executive Director |
BOARD EVALUATION:
The Board of Directors has carried out an annual evaluation of its own performance,
board committees and individual directors pursuant to the provisions of the Companies Act,
2013. The performance of the Board was evaluated by the board after seeking inputs from
all the directors on the basis of the criteria such as the board composition and
structure, effectiveness of board process, information and functioning etc.
The Board was of the view that the performance of the Board as a whole was adequate and
fulfilled the parameters stipulated in the evaluation framework in its pro-growth
activity. The Board also ensured that the Committee functioned adequately and
independently in terms of the requirements of the Companies Act, 2013. Further, the
individual directors fulfilled their applicable responsibilities and duties laid down by
the Companies Act, 2013 and at the same time contributed with their valuable knowledge,
experience and expertise.
FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS
In compliance with the requirements of the SEBI Listing Regulations, the Company has
formulated a policy to familiarize the Independent Directors with the Company and the
details of Familiarization Programme are available on the website of the Company:
www.reetechinternational.com
DECLARATION OF INDEPENDENCE BY INDEPENDENT DIRECTORS:
Pursuant to section 134(3)(d) of the act, your company confirm having received
necessary declarations from all the independent directors under section 149(7) of the
companies act, 2013 declaring that they meet the criteria of independence laid down under
section 149(6) of the companies act, 2013.
TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND
Pursuant to Sections 124 and 125 of the Companies Act, 2013, read with the Investor
Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules,
2016 (“IEPF Rules”), it is hereby stated that the provisions of the
aforementioned sections and rules are not applicable to the Company.
BOARD & COMMITTEE MEETINGS:
During the financial year under review 7 (Seven) Board meetings, 4 (four) Audit
Committee meetings, 2 (Two) Nomination & Remuneration Committee meetings, 2 (Two) CSR
Committee meeting's & 2 (Two) Stakeholder Relationship Committee meetings were held:
Sr. No. Meeting /Sr./No. |
Date of meeting |
Number of director's entitled to present |
Number of director's present |
Attendance in % |
1. BM/2024-25/01 |
16/04/2024 |
5 |
5 |
100% |
2. BM/2024-25/02 |
24/05/2024 |
5 |
5 |
100% |
3. BM/2024-25/03 |
29/08/2024 |
5 |
4 |
80% |
4. BM/2024-25/04 |
06/11/2024 |
5 |
5 |
100% |
5. BM/2024-25/05 |
14/11/2024 |
5 |
5 |
100% |
6. BM/2024-25/06 |
07/02/2025 |
5 |
5 |
100% |
7. BM/2024-25/07 |
26/02/2025 |
5 |
5 |
100% |
8. ACM-01/2024-25 |
24/05/2024 |
3 |
3 |
100% |
9. ACM-02/2024-25 |
29/08/2024 |
3 |
3 |
100% |
10. ACM-03/2024-25 |
14/11/2024 |
3 |
3 |
100% |
11. ACM-04/2024-25 |
07/02/2025 |
3 |
3 |
100% |
12. NRC-01/2024-25 |
24/05/2024 |
3 |
3 |
100% |
13. NRC-02/2024-25 |
14/11/2024 |
3 |
3 |
100% |
14. CSR-01/2024-25 |
14/11/2024 |
3 |
3 |
100% |
15. CSR-02/2024-25 |
07/02/2025 |
3 |
3 |
100% |
16. STKRC-01/2024-25 |
29/08/2024 |
3 |
3 |
100% |
17. STKRC-02/2024-25 |
07/02/2025 |
3 |
3 |
100% |
The intervening gap between the Board meetings was within the period prescribed under
the Companies Act, 2013 i.e., not more than 120 days from the previous meeting. The
Committee meetings are held as per governing provisions of the Companies Act, 2013 &
the various policies adopted by the company.
DIRECTORS' ATTENDANCE RECORD: GENERAL BODY MEETING (ANNUAL GENERAL MEETING & EXTRA
ORDINARY GENERAL MEETING)
The last Annual General Meeting (16th AGM) for the financial year ended
March 31, 2024 was held on 27th September, 2024. During the year One Extra
Ordinary general meeting of the members of the company was held during financial year
dated 28th March, 2025. The attendance record of the Directors at the Board
Meetings during the year ended on March 31, 2025, and at the last Annual General Meeting
and Extra Ordinary General Meeting is as under:
Name of Director |
Number of Board meetings attended during the year |
Whether attended last Annual General Meeting |
Number of Extra Ordinary General Meeting attended during the year |
Mr. Mahendra Ahuja |
7 out of 7 |
Yes |
1 out of 1 |
Mrs. Roma Ahuja |
7 out of 7 |
Yes |
1 out of 1 |
Mr. Manish Kumar |
7 out of 7 |
Yes |
1 out of 1 |
Mr. Mukesh Chandwani |
6 out of 7 |
Yes |
1 out of 1 |
Mr. Vijay Kumar Khilnani |
7 out of 7 |
Yes |
1 out of 1 |
SEPARATE MEETING OF INDEPENDENT DIRECTORS:
Pursuant to code for Independent Directors as per schedule IV read with section 149(8)
of the companies Act, 2013 and the SEBI (Listing Obligations and Disclosures Requirements)
Regulations, 2015 a separate meeting of Independent Directors of the company was held on
February 24th, 2025, without the attendance of Non-Independent Director and
Members of management to review the performance of non-Independent Directors (including
the Chairman) and the Board as a whole. All the Independent Directors were present at the
said meeting. The independent directors also reviewed the quality, quantity and timeliness
of flow of information between the Management and the Board and its Committees which is
necessary for the Board to effectively and reasonably perform and discharge their duties.
Independent Directors 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
ability to discharge their duties.
CORPORATE GOVERNANCE:
Pursuant to the provisions of regulation 15(2) of SEBI (LODR) Regulations, 2015, the
Compliance with the Corporate Governance Report provision as specified in Regulation 27 of
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is not
applicable to our company as we been entity listed on SME Exchange of Bombay Stock
Exchange of India Limited.
ANNUAL RETURN:
In terms of section 92(3) of the companies act, 2013 and rule 12 of the companies
(management and administration) rules, 2014, the annual return of the company is available
on the website of the company www.reetechinternational.com
PREVENTION OF INSIDER TRADING CODE:
The Company has adopted a Code of Conduct for Prevention of Insider Trading dated July
15, 2022, with a view to regulate trading in securities by the Directors and designated
employees of the Company. The Board of Directors and the designated employees are
responsible for implementation of the Code and have confirmed compliance with the Code.
INFORMATION PURSUANT TO RULE 5 (2) OF COMPANIES (APPOINTMENT & REMUNERATION OF
MANAGERIAL PERSONNEL) RULES, 2014 & PARTICULARS OF EMPLOYEES:
The Company has not appointed any employee(s) in receipt of remuneration exceeding the
limits specified under Rule 5 (2) of Companies (Appointment & Remuneration of
Managerial Personnel) Rules, 2014. The disclosure pursuant to this is enclosed in Annexure
I of this report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO (IF
APPLICABLE):
The information on conservation of energy and technology absorption under section
134(3)(m), of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014 is not
required to be given for the business segment in which your Company operates as the
Company did not have any foreign exchange earnings or outgo during the financial year
under review.
SECRETARIAL AUDITOR:
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, and SEBI (LODR)
Regulation, 2015 the Company has Re-appointed M/s. Nitin Agrawal & Co., Practicing
Company Secretaries, Raipur (C.G.) having (M No: -F-9684 & CP No.:11931) as the
Secretarial Auditor of the Company for the F.Y. 2024-25 to undertake Secretarial Audit.
The Secretarial Audit Report received from the Secretarial Auditor of the Company for
the Financial Year 2024-25 is annexed herewith as ANNEXURE-II
Further, pursuant to amended Regulation 24A of SEBI Listing Regulations, and subject to
your approval being sought as the ensuing AGM M/s. Nitin Agrawal & Co., Practicing
Company Secretaries, Raipur (C.G.) having (M No:-F-9684 & CP
No.:11931) (Peer reviewed certificate no. 2989/2023) has been appointed as a
Secretarial Auditor to undertake the Secretarial Audit of your Company for the first term
of five consecutive financial years from FY 2025-26 till FY 2029-30. CS Nitin Agrawal,
Practicing Company Secretary has confirmed that he is not disqualified to be appointed as
a Secretarial Auditor and is eligible to hold office as Secretarial Auditor of your
Company
INTERNAL AUDITORS:
Pursuant to provision of Section 138 of the Companies Act, 2013 Rule 13 of The
Companies (Accounts) Rules, 2014, the Company has Re-appointed M/s P S N V &
Associates LLP, Chartered Accountant, Raipur, (C.G.) having (FRN: C400305) as the Internal
Auditor of the Company for F.Y. 2024-25 to undertake Internal Audit.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to Section 134 (3) (c) read with Section 134 (5) of the Companies Act, 2013,
your Directors state that:
a) In the preparation of the annual accounts, the applicable accounting standards have
been followed with proper explanation relating to material departures, if any;
b) They have, in the selection of the accounting policies, consulted the Statutory
Auditors and have 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 31st March, 2025 and of its profit and Loss for the year ended on
that date;
c) They have taken proper and sufficient care to the best of their knowledge and
ability for the maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities; and
d) They have prepared the annual accounts for the year ended 31st March,
2025 on a ‘going concern' basis; and
e) They have laid down internal financial Control to be followed by the company and
that such internal financial control was adequate and operating effectively.
f) They have devised proper internal financial Control systems to ensure compliance
with the provisions of all applicable laws and that such systems were adequate and
operating effectively.
AUDITOR'S REPORT ON STANALONE & CONSOLIDATED FINANCIAL STATEMENTS:
The Independent Auditors Report on Standalone and Consolidated Financial statements of
the company along with the Annexure as issued by the Auditors are appended in this Annual
Report, wherein the Auditors have not made any qualification/ adverse remarks based on the
auditing.
STATUTORY AUDITORS:
Pursuant to provisions of Section 139 and rules made thereunder, M/s. Gupta Agarwal
& Associates, Chartered Accountants, Kolkata, having (Firm Registration No. 329001E)
is appointed as the Statutory Auditors of the Company on 14th Annual General
Meeting held dated August 30, 2022 to hold office for a term of five year from the
conclusion of 14th Annual General Meeting to the conclusion of 19th Annual
General meeting of the Company to be held in the year 2027.
MAINTENANCE OF COST RECORDS AND COST AUDIT:
The provisions of section 148 of Companies Act, 2013 read with Companies (Cost Record
and Audit) Rules, 2014 which provides for maintenance of cost records and the audit of
such cost records are not applicable to your Company.
DISCLOSURE OF VIGIL MECHANISM & REPORTING UNDER WHISTLE BLOWER POLICY
Your Company has formulated a policy namely “Vigil Mechanism / Whistle Blower
Policy” on July 15, 2022. During the financial year under review no case or complaint
was received pertaining to whistle blower policy. The said Whistle Blower Policy is
available on the website of the Company at https://reetechinternational.com/
DISCLOSURE OF CASES RELATING TO SEXUAL HARASSMENT OF WOMEN AT WORKPLACE:
Your Company has formulated a Policy for prevention of Sexual Harassment of Women at
Work place namely “Anti-Sexual Harassment Policy” on July 15, 2022. During the
financial year under review no case was filed under the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013. The said Anti-Sexual
Harassment Policy is available on the website of the Company at
https://reetechinternational.com/
PROVISIONS RELATING TO THE MATERNITY BENEFITS ACT, 1961
During the year the under review the company has complied with the provision of
Maternity Benefits Act, 1961. As amended by the Maternity Benefit Act, 2017 which
inter-alia provides maternity leaves to the woman employee. The company has taken adequate
measures to ensure compliance with the requirement, and necessary facilities are extended
to woman employee to support their health, welfare and work life balance.
DISCLOSURE ON SECRETARIAL STANDARD:
The Directors have devised proper systems to ensure compliance with the provisions of
all applicable Secretarial Standard, as issued by ICSI, pursuant to the provision of
Section 118(10) of Companies Act, 2013 and that such systems are adequate and operating
effectively.
EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR
DISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS
There was no qualifications, reservations or adverse remarks made by the either by the
Auditors or by the Practicing Company Secretary in their respective reports.
COMPANY'S POLICY RELATING TO DIRECTORS' APPOINTMENT, PAYMENT OF REMUNERATION AND
DISCHARGE OF THEIR DUTIES
The Company has in place formed and constituted a committee called “Nomination and
Remuneration Committee” of the Board of Directors on July 15, 2022 under the
provisions of Section 178(1) of the companies Act, 2013.
Also, the Company has devised a policy relating to appointment of Directors, payment of
Managerial remuneration, Director's qualifications, positive attributes, independence of
Directors and other related matters as provided under Section 178(3) of the Companies Act,
2013.
The Terms of Reference of NRC Policy is briefed in Annexure III to Board Report.
SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES:
Refer Form AOC-1 attached to Board Report for details of companies/entities which are
subsidiary company, associates and joint ventures, during the year under review.
PERFORMANCE OF ASSOCIATE COMPANY:
M Ahuja Project (India) Private Limited (MAPIPL) is an Associate Company, and is
engaged in the business of Construction of buildings and developments of land related
services and trading of Coal. The registered office is situated at Sai Kunj, Civil Lines,
Raipur, and Chhattisgarh.
During the period under review, the revenue from operations of the Company stands at
Rs. 1566.59 Lakhs as compared to last year's revenue which was Rs. 29.94 lakhs and the Net
profit after tax for the current year showed a Loss of (1122.52) lakhs as compared to last
year Net profit after tax Showed a Profit of Rs. 7.51 Lakhs
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES
ACT, 2013:
The Company has made requisite disclosure as required pursuant to section 186 under the
provision of Companies Act, 2013 during the year. The required details form the part of
financial statements and also disclosed in the independent audit report as on 31st
March, 2025.
STATEMENT INDICATING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT:
In today's economic environment, Risk Management plays a very important part of
business. The main aim of risk management is to identify, assess, prioritize, monitor and
take precautionary measures in respect of the events that may pose risks to the business.
The Company is not subject to any specific risk except risks associated with the general
business of the Company as applicable to the industry as a whole.
However, no element of risk which in the opinion of the Board may threaten the
existence of the Company has been identified so far.
CORPORATE SOCIAL RESPONSIBILITY INTIATIVES & ANNUAL REPORT ON CSR ACTIVITIES:
Your Company has in place devised a CSR policy w.e.f July 15, 2022, with the formation
of the CSR committee which is detailed in Annexure IV to Board Report.
The provisions of Section 135 of the Companies Act, 2013 relating to Corporate Social
Responsibility were applicable to the Company in the previous financial year. However,
during the financial year the criteria for applicability under Section 135 were not met,
and therefore, the provisions of CSR are not applicable to the Company for the year under
review."
ENVIRONMENT AND SAFETY:
The Company is conscious of the importance of environmentally clean and sale
operations. The Company's policy requires the conduct of all operations in such manner so
as to ensure safety of all concerned, compliance of statutory and industrial requirements
for environment protection and conservation of natural resources to the extent possible.
DETAILS OF SIGNIFICANT MATERIAL ORDERS PASSED BY THE REGULATORS / COURTS / TRIBUNAL
IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATION IN FUTURE:
There are no significant material orders passed by the Regulators / Courts / Tribunal
which would impact the going concern status of the Company and its future operations.
Hence, disclosure pursuant to Rule 8 (5) (vii) of Companies (Accounts) Rules, 2014 is not
required.
DISCLOSURE IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE
FINANCIAL STATEMENTS PURSUANT TO RULE 8 (5) (viii) OF COMPANIES (ACCOUNTS) RULES, 2014:
Your Company has an internal control system commensurate with the size of the Company
and the nature of its business. The Declaration by the Managing Director & CFO with
respect to this has been given in Annexure V to Board Report.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES MADE PURSUANT TO
SECTION 188 OF THE COMPANIES ACT, 2013.
All related party transactions that were entered into during the financial year 2024-25
were on an arm's length basis and were in the ordinary course of business. All Related
Party Transactions were placed before the Audit Committee for approval. Prior omnibus
approval of the Audit Committee is obtained and reviewed on a quarterly basis for the
transactions which are of a foreseen and repetitive nature. There have been no materially
significant related party transactions between the Company and the Related Parties except
for those disclosed in the audited Financial Statements of the company.
During the year, Your Company had not entered into any contract/
arrangement/transaction with related parties which are not at arm's length basis which
could be considered material or which are required to be reported in Form AOC-2 in terms
of Section 134 (3) (h) read with Section 188 of the Act and Rule 8(2) of the Companies
(Accounts) Rules, 2014. Form AOC-2 does not form part of the report.
A Related Party Policy has been devised by the Board of Directors formed on July 15,
2022, for determining the materiality of transaction with the related parties and dealing
with them. The said Related Party Policy is available on the website of the Company at
https://reetechinternational.com/ Revised policy of Related party transaction has been
done on dated 27th May, 2025.
MEANS OF COMMUNICATION & COMPLIANCES:
Financial Results:
The Half Yearly Audited Results and the Annual Audited Financial Results of the Company
are sent to the stock exchanges immediately after they are approved by the Board. Also,
they are uploaded on the Company's website www.reetechinternational.com. The results are
published in accordance with the guidelines of the Stock Exchange.
Website:
The Company's website www.reetechinternational.com contains a separate dedicated
section ‘Investors' wherein shareholder's information including financial results is
available. The Company's Annual Report is also available in a user- friendly and
downloadable form.
Annual Report:
The Annual Report containing, inter alia, Audited Financial Statements (standalone and
consolidated), Boards' Report, Auditors' Report and other important information is
circulated to Members and others entitled thereto and is displayed on the company's
website www.reetechinternational.com.
BSE Corporate Compliance & Listing Centre:
BSE's Listing Centre is a web-based application designed for corporate. All periodical
compliance filings like shareholding pattern, among others are also filed electronically
on the Listing Centre as per the prescribed timelines under the SEBI Regulations.
SEBI Complaints Redress System (SCORES):
Investors' complaints are processed in a centralized web-based complaints redress
system. The salient features of this system are: Centralized database of all complaints,
online upload of Action Taken Reports (ATRs) by concerned companies and online viewing by
investors of actions taken on the complaint and its current status. The Company regularly
redresses the complaints if any, on SCORES within stipulated time.
Investor Relations:
Your Company always endeavors to keep the time of response to shareholders' request /
grievance at the minimum. Priority is accorded to address all the issues raised by the
shareholders and provide them a satisfactory reply at the earliest possible time.
The Stakeholders' Relationship Committee of the Board meets periodically and reviews
the status of the Shareholders' Grievances.
Investor Grievance & Reprisal:
The Company has designated the email-id info@reetechinternational.com &
cs@reetechinternational.com exclusively for investor related services.
GENERAL'S SHAREHOLDRS INFORMATION: Ensuing 17th Annual General Meeting: Day
& Date: Friday, September 26th, 2025 Time: 01:00 p.m.
Venue: Sai Kunj, near kali Mata Mandir, Civil Lines, Raipur, Chhattisgarh, India.
Financial Calendar:
Financial reporting for the 1st Half Year End - November 14, 2024 Audited yearly
Results for the year ending March 31, 2025- May 27, 2025
Book Closure:
The Register of Members and Transfer Books of the Company will remain closed from
Friday, September 19, 2025 to Friday, September 26, 2025 (both days inclusive).
Listing in stock exchanges and scrip codes:
Name of the Stock Exchange |
Scrip code |
Bombay Stock Exchange Limited (SME Board) |
REETECH/ 543617 |
The ISIN number for the Company's equity share: INE0MKO01015
Outstanding GDR's / ADR's / Warrant's / Convertible instruments and their impact on
equity: NIL Listing Fees to the Stock Exchange:
The Company has paid listing fees up to March 31, 2025 to SME Platform of BSE Limited,
where the Company's shares are listed.
E-Voting:
In terms of Section 108 of the Companies Act, 2013, Rules framed there under and SEBI
(Listing Obligations and Disclosure Requirements) Regulation, 2015, the Company is not
requiring to enroll for the e-voting facility to its Members in respect of all Members'
resolutions proposed to be passed at this Annual General Meeting. All the resolutions
shall be passed through Ballot Polling.
Share Transfers Agent: Bigshare Services Private Limited S6-2, 6th Pinnacle Business
Park, Mahakali Caves Road, next to Ahura Centre, Andheri East, Mumbai- 400093,
Maharashtra, India Phone: 022 6263 8200 Email: investor@bigshareonline.com Website:
www.bigshareonline.com
Share Transfer System:
None of the shares are held in physical form.
DEMATERLISATION OF SHARES AND LIQUIDITY
Currently 100% of the Company Share Capital is held in dematerialized form.
The shares of the Company continue to be traded in electronic forum and
de-materialization exists with both the depositories viz., National Securities Depository
Limited and Central Depository Services (India) Limited.
THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016 (31 of 2016) DURING THE YEAR ALONGWITH THEIR STATUS AS AT THE END OF
THE FINANCIAL YEAR:
During the year under review, there were no applications made or proceedings pending in
the name of the company under the Insolvency Bankruptcy Code, 2016.
THE DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME
SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL
INSTITUTIONS ALONG WITH THE REASONS THEREOF: During the year under review, there was no
one time settlement of loans from Banks and Financial Institutions.
MANAGEMENT DISCUSSION & ANALYSIS REPORT: Refer Annexure VI attached to this report.
ACKNOWLEDGEMENTS:
The Directors wish to place on record their appreciation to the whole hearted help and
co-operation, the Company has received from the business associates, partners, vendors,
clients, government authorities, and bankers of the Company. Your directors also wish to
place on record their deep sense of appreciation for the committed services by the
Company's executives, staff and employee's.
By order of the Board For, Reetech International Limited (Formerly known as Reetech
International Cargo and Courier Limited)
Mahendra Ahuja |
Roma Ahuja |
(Managing Director) |
(Director) |
DIN: - 00247075 |
DIN:- 00247153 |
Add: Sai-Kunj, Kali Mata Mandir |
Add: Sai-Kunj, Kali Mata Mandir |
Road, Katora Talab, Civil Lines, |
Road, Katora Talab, Civil Lines, |
Raipur, 492001 (C.G.) |
Raipur, 492001 (C.G.) |
Date: 25.08.2025 |
Place: Raipur (C.G.) |
|