Director's report
HISTORY AND CERTAIN CORPORATE MATTERS
Our Company was originally incorporated as "Aritas Vinyl Private Limited", a
Private Limited Company under the provisions of the Companies Act, 2013, Pursuant to a
certificate of incorporation dated April 17, 2020 Issued by the Registrar of Companies,
Central Registration Centre. Subsequently, pursuant to a Special Resolution of our
Shareholders passed in the Extra-Ordinary General Meeting held on January 03, 2025 our
Company was converted from a Private Limited Company to Public Limited Company and
consequently, the name of our Company was changed to "Aritas Vinyl Limited" and
a Fresh Certificate of Incorporation consequent to Conversion to public Limited company
was issued on January 23, 2025 by the Registrar of Companies, Central Registration Centre.
The Corporate Identification Number of our Company is U19200GJ2020PLC113437.
Business and Management
For a description of our activities, business, technology, the growth of our Company
and regional geographical segment in which our Company operates, please refer to chapters
titled "Business Overview", "Industry Overview" and "Management's
Discussion and Analysis of Financial Condition and Results of Operations" on pages
no. 109, 98, and 203 of this Red Herring Prospectus, respectively. For details of the
management and managerial competence of our Company, please refer chapter titled "Our
Management" on page no. 149 of this Red Herring Prospectus.
Changes in Registered Office
Except as disclosed below, there has been no change in the registered office of our
Company since the date of incorporation.
Date of change |
Details of change in the registered office |
Reason for Change |
August 10, 2021 |
Change within local limits of the city From Survey No 688/C, Near
Elegant Vinyl Private Limited, Village Kubadthal, Taluka Daskroi Ahmedabad, Gujarat,
India. |
For Operational & Administrative Convenience as the Government has
notified new Survey no. and accordingly the Survey no. Changed |
|
To |
|
|
Survey No. 1134 Near Elegant Vinyl Private Limited, Daskroi,
Ahmedabad-382430, Gujarat, India |
|
Main Objects as set out in the Memorandum of Association of the Company
The Main object clause of the Company as per Memorandum of Association is as under:
To carry on the business as manufacturers, producers, processors, makers, inventors,
converters, importers, exporters, traders, buyers, sellers, retailers, wholesalers,
suppliers, stockists, agents, sub-agents, merchants, distributors, jobbers of or otherwise
deal in all kinds of artificial leather, PVC Vinyl, Soft board, PVC Fabrics manufactured,
out of PVC Materials which is being used by trade and industry, tour and travel
requisites, item required for personal use like purses, pouches, travel kits, toys,
Folders, boots and shoes and leather dresses, cloths, sandals and other allied items.
Amendments to the Memorandum of Association
The following changes have been made in the Memorandum of Association of our Company
since its inception:
• Change in Name Clause
Sr. No. |
Date of Passing of Resolution |
11 |
Reason for Change |
1. |
January 03, 2025 |
EGM |
The name of our company has changed from "Aritas Vinyl Private
Limited" to "Aritas Vinyl Limited" pursuant to conversion of company from
Private Limited Company to Public Limited Company. |
• Change in Capital
Sr. No. |
Date of Change |
AGM/ EGM |
Changes in authorized Capital |
1. |
On Incorporation (April 17, 2020) |
- |
The authorized capital of our company on incorporation comprised of
Rs. 50,00,000/- consisting of 5,00,000 Equity shares of Rs. 10/- each. |
2. |
September 18, 2020 |
EGM |
The authorized share capital of Rs. 50,00,000/- consisting of 5,00,000
Equity shares of Rs. 10 each was increased to Rs. 2,50,00,000/- consisting of 25,00,000
Equity shares of Rs.10/- each. |
3. |
October 09, 2024 |
EGM |
The authorized share capital of Rs. 2,50,00,000/- consisting of
25,00,000 Equity shares of Rs. 10 each was increased to Rs. 20,00,00,000/- consisting of
2,00,00,000 Equity shares of Rs. 10/- each. |
MAJOR EVENTS, KEY AWARDS, ACCREDITATIONS OR RECOGNITION OF OUR COMPANY
There are no major events, key awards, accreditations or recognition except as
mentioned below.
Year |
Key Events/Key Awards/Milestone/Achievement |
2020 |
Our Company was incorporation as private limited company under the
name "Aritas vinyl Private Limited" |
2023 |
Accredited with an ISO 9001:2015 certified Company for Quality
Management System. |
2023 |
Our Company has participated in "India International Footwear
Fair 2023 in Delhi |
2024 |
Increased manufacturing capacity through establishment of additional
production line from 42 lakh Meters to 78 Lakhs Meters |
2024 |
Our Company has participated in "International Trade for Home and
Contract Textiles" in Frankfurt, Germany. |
2024 |
Our Company was converted into Public Limited Company under the name
of "Aritas Vinyl Limited". |
2024 |
Our Company has participated in "Indian International Leather
fair 2024" in Chennai. |
2025 |
Our Company has participated in "Indian International Leather
fair 2025" in Chennai. |
2025 |
Our Company has participated in "International Trade for Home and
Contract Textiles" in Frankfurt, Germany. |
Acquisition or divestments of business/undertakings, mergers and amalgamations
Our Company neither acquired any entity, business or undertakings nor has undertaken
any mergers or amalgamation since Incorporation.
Strategic Partners
Our Company is not having any strategic partner as on the date of filing this Red
Herring Prospectus.
Financial Partners
Our Company is not having any financial partner as on the date of filing this Red
Herring Prospectus.
Time and Cost Overruns
As on the date of this Red Herring Prospectus, there have been no time and cost
overruns pertaining to our business operations.
Launch of key products or services, Capacity and Capacity Utilisation, entry in new
geographies or exit from existing markets
For details pertaining to our products or services, capacity and capacity utilisation,
entry in new geographies or exit from existing markets, please refer chapter titled
"Business Overview" on page no. 109 of this Red Herring Prospectus.
Lock Outs and Strikes
There have been no lock-outs or strikes in our Company since inception
Injunctions or Restraining Orders
As on the date of this Red Herring Prospectus, there are no injunctions or restraining
orders against our Company.
Changes in the activities of our Company in the last Five years
There is no change in activity of our Company since incorporation.
Defaults or rescheduling of borrowings of our Company with Financial Institutions/Banks
There have been no defaults or rescheduling of borrowings or conversion of loans into
equity with any financial institutions/banks in relation to our Company as on the date of
this Red Herring Prospectus.
Revaluation of assets
Our Company has not revalued its assets since incorporation and has not issued any
Equity Shares by capitalizing any revaluation reserves.
Subsidiaries and Holding Company
Our Company neither has a Holding company nor has any Subsidiary Company as on the date
of this Red Herring Prospectus.
Joint Ventures
Our Company has not entered into any joint-ventures as on the date of this Red Herring
Prospectus.
Shareholders' Agreements
Our Company has not entered into any shareholders agreement as on the date of this Red
Herring Prospectus.
Other Agreements
Our Company has not entered into any agreements other than those entered into in the
ordinary course of business with Key Managerial Personnel or Directors or Promoters or any
other employee of the issuer, either by themselves or on behalf of any other person and
there are no material agreements before the date of this Red Herring Prospectus.
OUR MANAGEMENT
Our Company currently has 7 (Seven) Directors, out of which Two (2) are Executive
Directors, two (2) are Non-Executive and three (3) Non-Executive Independent Directors.
BOARD OF DIRECTORS
The Following table sets forth details regarding the Board of Directors as of the date
of this Red herring Prospectus:
Name, Father's Name, Address, Date of Birth, Age, Designation,
Status, DIN, Occupation and Nationality, Term, Original date of Appointment |
Other Directorships |
Name: Anilkumar Prakashchandra Agrawal* |
1. Elegant Vinyl Private Limited |
Father's Name: Prakashchandra Kirodimal Agrawal |
|
Address: B-25, Madhukunj Society, |
|
kashi vishvnath mandir, Maninagar, Ahmedabad, |
|
Gujarat, 380008 |
|
Date of Birth: October 21, 1972 |
|
Age: 53 Years |
|
Designation: Managing Director |
|
Status: Executive Director |
|
DIN:06810266 |
|
Occupation: Business |
|
Nationality: Indian |
|
Term: Appointed as a Managing Director for the period of 5
years with effect from January 08, 2025 to January 07, 2030 |
|
Original Date of Appointment: Appointed on April 17, 2020, as
an Executive Director |
|
Name: Sanjaykumar Kantilal Patel* |
1. Elegant Vinyl Private Limited |
Father's Name: Kantilal Vallabhbhai Patel |
|
Address: B/201, Harekrushna Residency |
|
Nr. Shrinand City, Ramol, New Maninagar, |
|
Ahmedabad, Gujarat- 382449 |
|
Date of Birth: January 02, 1969 |
|
Age: 57 Years |
|
Designation: Director |
|
Status: Non-Executive Director |
|
DIN: 07272955 |
|
Occupation: Business |
|
Nationality: India |
|
Term: Not Liable to Retire by Rotation |
|
Original Date of Appointment: Since incorporation i.e. April
17, 2020 as an Executive Director and on March 26, 2025 change in designation to
Non-executive director |
|
Name: Ankit Anilbhai Agrawal |
1. Elegant Vinyl Private Limited |
Father's Name: Anilbhai Prakashchandra Agrawal |
|
Address: B-25, Madhukunj Society, |
|
kashi vishvnath mandir, Maninagar, |
|
Ahmedabad, Gujarat, 380008 |
|
Date of Birth: October 13, 1993 |
|
Age: 32 Years |
|
Designation: Director |
|
Status: Non-Executive Director |
|
DIN: 07272894 |
|
Occupation: Business |
|
Nationality: Indian |
|
Term: Liable to Retire by Rotation Original Date of
Appointment: Appointed as an additional executive Director w.e.f. June 23, 2022 and
Executive Director w.e.f. September 30, 2022 and on March 26, 2025 change in designation
to Non-executive director |
|
Name: Mohit Ashokkumar Agrawal |
Nil |
Father's Name: Ashokkumar Bhagwanbhai Agrawal |
|
Address: 7, Gokul Bunglows, 17 charotar patel society, |
|
Maninagar, Ahmedabad, Gujarat, 380008 |
|
Date of Birth: October 27, 1997 |
|
Age: 28 Years |
|
Designation: Director |
|
Status: Executive Director |
|
DIN: 08852650 |
|
Occupation: Business |
|
Nationality: India |
|
Term: Not Liable to Retire by Rotation |
|
Original Date of Appointment: Appointed as an Executive
Director |
|
w.e.f. August 31, 2020 |
|
Name: Sona Sunderlal Bachani |
1. Aashiana Rolling Mills Limited |
Father's Name: Sunderlal Gamandas Bachani |
2. Tavernier Resources Limited |
Address: A-52, Maharaja society, Nera Maya cinema, |
3. Koura Fine Diamond Jewelry |
Kubernagar, Ahmedabad, Gujarat- 382340 |
Limited |
Date of Birth: January 23, 1996 |
4. Eforu Entertainment Ltd |
Age: 29 Years |
5. SGL Resources Limited |
Designation: Independent Director |
|
Status: Non- Executive Director |
|
DIN:10119435 |
|
Occupation: Professional |
|
Nationality: India |
|
Term: Five (5) years w.e.f. January 01, 2025 |
|
Original Date of Appointment: Appointed as an Additional
Independent |
|
Director on January 01, 2025. |
|
Name: Virendra Kumar Khandelwal |
1. Areion Credittech Pvt. Ltd. |
Father's Name: Badri Prasad Gupta |
2. Rajradhe Finance Ltd. |
Address: C-3/250, Chitrakoot scheme, |
3. Areion Fincap Pvt. Ltd |
Vaishali Nagar, Ajmer road, Jaipur, |
|
Rajasthan- 302021 |
|
Date of Birth: June 30, 1963 |
|
Age: 62 Years |
|
Designation: Independent Director |
|
Status: Non- Executive Director |
|
DIN:08450201 |
|
Occupation: Professional |
|
Nationality: India |
|
Term: Five (5) years w.e.f. January 01, 2025 |
|
Original Date of Appointment: Appointed as an Additional
Independent |
|
Director on January 01, 2025 |
|
Name: Rahul Hareshbhai Modi |
1. Indo Colchem Limited |
Father's Name: Hareshbhai Modi |
2. Oceanic Foods Limited |
Address: Maa Amba Ashish, |
3. Yarn Syndicate Ltd |
Bhaktinagar Society, Street no. 15, Closed street, Opp Street of Darji
Ni |
|
Wadi, Near Gurukul, Dharamjivan Society Main Road, Rajkot Gujarat - |
|
360002 |
|
Date of Birth: October 08, 1994 |
|
Age: 31 Years |
|
Designation: Independent Director |
|
Status: Non- Executive Director |
|
DIN:09483841 |
|
Occupation: Professional |
|
Nationality: India |
|
Term: Five (5) years w.e.f. February 17, 2025 |
|
Original Date of Appointment: Appointed as an Additional
Independent |
|
Director on February 17, 2025 |
|
* In whole RHP, the Names of the Directors who are promoters has been taken as per
Passport Confirmations
As on date of this Red Herring Prospectus
A. None of the Directors are/ were directors of any company whose shares were suspended
from trading by Stock Exchange(s) or under any order or directions issued by the stock
exchange(s)/ SEBI/ other regulatory authority in the last five (5) years.
B. None of the Directors are on the RBI List of willful defaulters.
C. None of the Directors are/ were directors of any listed entity whose shares were
delisted from any Stock Exchange(s).
D. Further, none of the directors are/ were directors of any entity which has been
debarred from accessing the capital markets under any order or directions issued by the
Stock Exchange(s), SEBI or any other Regulatory Authority.
E. None of the Directors are fugitive economic offender.
Nature of any family relationship between our Directors and Key Managerial Personnel
(KMP) and Senior Management
None of the Directors of our Company are related to each other as per section 2(77) of
the Companies Act, 2013 except as Mentioned Below
Mr. Anilkumar Prakashchandra Agrawal, Managing Director of the company is Father of Mr.
Ankit Anilbhai Agrawal, Non-Executive Director of the company.
Arrangements with major Shareholders, Customers, Suppliers or Others
There are no arrangements or understanding between major shareholders, customers,
suppliers or others pursuant to which any of the Directors were selected as a director or
member of a senior management as on the date of this Red Herring Prospectus.
Service Contracts
Except statutory benefits upon termination of their employment in our Company or
retirement, no officer of our Company, including the directors and key Managerial
personnel are entitled to any benefits upon termination of employment.
Borrowing Powers of the Board
The Articles, subject to the provisions of Section 180(1)(c) of the Act authorizes the
Board to raise, borrow or secure the payment of any sum or sums of money for the purposes
of our Company. The shareholders have, pursuant to a special resolution passed at the
Extra-ordinary General Meeting held on March 03, 2025 in accordance with Section 180(1)(c)
of the Act authorized the Board to borrow monies from time to time, such sums of money
even though the money so borrowed together with money already borrowed exceeds the
aggregate of the paid-up capital and free reserves of the Company provided, however, that
the total borrowing (apart from the temporary loans taken from the company's bankers in
the ordinary course of Business) shall not exceed Rs.45.00 Crores.
Brief Profiles of Our Directors
Mr. Anilkumar Prakashchandra Agrawal, aged 53 years, is the promoter and Managing
Director of our company. He holds the position of Managing Director and has been
instrumental in the company's growth and success since its inception. Mr. Agrawal
completed his higher secondary education through Gujarat Secondary Education Board,
Gandhinagar, in the year 1990. With over 33 years of experience in the sales and
manufacturing industries, he was a partner at Ambika Marble and Granite, a partnership
firm, from 1991 to 2008. After that He led the sales department from 2008 to 2015 in an
Ambika Marble & Granite a proprietorship firm. He was also a Partner in Maximo
Ceramic, a partnership firm, since 2013 to April 2025. Since 2015, Mr. Agrawal has been
serving as a Director at Elegant Vinyl Private Limited. In his current role as a managing
director, he oversees the company's operations actively managing daily activities. He is
responsible for business strategy, financial planning, and making key decisions to drive
growth.
Mr. Sanjaykumar Kantilal Patel, aged 57 years, is a Non-Executive Director on the
board of the company. He holds a Sanitary Inspectors' Diploma, which he obtained in 1988
from the All-India Institute of Local SelfGovernment, Bombay. He possessed vast experience
of around 15 years in the construction field being a partner in Dhanlaxmi Construction and
have 10 years of experience in the technical textile and vinyl industry, being a Director
of Elegant Vinyl Private Limited, Mr. Patel has played a key role in its growth and
success. He was also a Partner in Maximo Ceramic, a partnership firm, since 2013 upto
April 2025 and gain experience of ceramic Industry. He currently oversees critical areas
such as safety protocols and efficient material management, ensuring smooth operations
across the organization.
Mr. Ankit Anilbhai Agrawal, aged 32 years, is a Non-Executive Director on the board
of our company. Mr. Agrawal completed his Bachelor of Science in 2014 from Bharath
University, Chennai, Tamil Nadu. He is also Director in Elegant Vinyl Private limited
since 2015. With nearly 10 years of experience in marketing and sales, he brings a wealth
of knowledge to the company.
Mr. Mohit Ashokkumar Agrawal, aged 28 years, is an Executive Director on the board
of the company. He completed his Master of Business Administration with a specialization
in Marketing in the year 2021 and Bachelor of Business Administration with specialization
in Marketing in the year 2019 both from GLS University, Ahmedabad. Mr. Agrawal has been
associated with the company since August 31, 2020. he supports strategic decision-making
and long-term planning, contributing to the company's overall vision and growth.
Ms. Sona Sunderlal Bachani, aged 29 years, is a Non-Executive Independent Director
on the board of the company. She holds a Bachelor of Commerce degree (2016) and a Master
of Commerce degree (2019) from Gujarat University. An associate member of the Institute of
Company Secretaries of India since October 2019, Ms. Bechani brings over 3 years of
experience in Secretarial and Corporate Compliance. She has been serving as the Company
Secretary at M/s. Mahickra Chemicals Limited since October 12, 2022. Her major role in the
company is as an advisor to the Board and assist in bringing an independent judgment to
bear on the Boards deliberations especially on issues of strategy, performance, risk
management, resources, key appointments and standards of conduct.
Mr. Virendra Khandelwal, aged 62, serves as a Non-Executive Independent Director on
the board of the company. He holds a Bachelor of Commerce (Honors) degree, which he
completed in 1982 from Rajasthan University. In 1988, he earned a Bachelor of Laws degree
from the University of Rajasthan, Jaipur. Furthermore, Mr. Khandelwal completed a one-year
Advanced Diploma in Business Administration from Welingkar Institute of Management
development & Research, Mumbai in the year 2009. He has extensive experience, having
worked for decades with Bank of Baroda at various locations under various capacities.
Currently, he serves as an advisor at Omkara Assets Reconstruction Private Limited since
April 2024 and he also held position as a Internal Ombudsman at Unity Small Finance Bank,
Mumbai, since May 2024 for a fixed term of 5 years. Due to his vast experience he is
serving as an advisor to the Board, offering independent judgment on key deliberations,
particularly in Corporate Finance, Risk Management, and Business Advisory Services of the
company.
Mr. Rahul Modi, aged 31 years, is a Non-Executive Independent Director on the board
of the company. He has completed Bachelor of Commerce degree, in the year 2015 from J J
Kundaliya College, Saurashtra University. He has established his own proprietary concern
namely M/s Shiveshwar International Trade. His primary role in the company is serving as
an advisor to the Board, offering independent judgment on key deliberations, particularly
in Corporate Finance, Risk Management, and Business Advisory Services.
Compensation of Managing Directors
Terms and conditions of employment of our Managing Director:
Mr. Anil Agrawal has been appointed as Managing Director of our Company in the
Extra-ordinary General Meeting of the company held on March 03, 2025 for a period of Five
years commencing w.e.f. January 08, 2025 to January 07, 2030.
The remuneration payable is as follows:
Name |
Anilkumar Prakashchandra Agrawal |
Date of Resolution* |
March 03, 2025 |
Period |
w.e.f. January 08, 2025 to January 07, 2030 |
Salary |
Upto Rs. 30,00,000/- per annum |
Remuneration paid in FY 2024-25 |
Rs. 1.50 Lakhs |
*All other terms and conditions as mentioned in the Resolution of
appointment/appointment letter may be inspected at the Registered Office between 10:00
a.m. and 05:00 p.m. (IST) on all Working Days from the date of this Red Herring Prospectus
until the Issue Closing Date.
Remuneration details of our Directors
Remuneration of our Executive Directors
The aggregate value of the remuneration paid to the Executive Directors in Fiscal 2025
and Fiscal 2024 are as follows:
Sr. No |
Name of the Director |
Remuneration |
Remuneration |
Remuneration |
Remuneration |
|
|
For the period ended on August 31, 2025 |
Fiscal 2025 |
Fiscal 2024 |
Fiscal 2024 |
1 |
Mohit Agrawal |
1.91 |
3.44 |
2.29 |
2.29 | |
Payment or benefit to Independent Directors of our Company
We have paid sitting fees to our Independent Directors till the date of this Red
Herring Prospectus as below.
Sr. No |
Name of the Director |
Category |
Period ended on August 31, 2025 |
Fiscal 2025 |
1. |
Virendrakumar Khandelwal |
Independent Director |
0.54 |
0.33 |
2. |
Rahul Modi |
Independent Director |
0.21 |
0.13 |
3. |
Sona Bachani |
Independent Director |
0.21 |
0.13 |
Shareholding of Directors in our Company
The details of the shareholding of our directors as on the date of this Red Herring
Prospectus are as follows:
Sr. No. Name of the Directors |
No. of Equity Shares |
Percentage of Pre-Issue Capital (%) |
1. Anilkumar Prakashchandra Agrawal |
7,83,250 |
6.17 |
2. Ankit Anilbhai Agrawal |
7,65,128 |
6.03 |
3. Mohit Ashokkumar Agrawal |
12,99,464 |
10.24 |
4. Sanjaykumar Kantilal Patel |
6,62,350 |
5.22 |
Total |
35,10,192 |
27.66 |
Interests of our Directors
Our all-Independent Directors may be deemed to be interested to the extent of sitting
fees payable to them for attending meetings of the Board or a committee thereof and as
well as to the extent of reimbursement of expenses payable to them under the Articles.
Our Executive Directors are interested to the extent of remuneration payable to them
pursuant to the Articles of Company and resolution approved by the Board of
Directors/Members of the Company as the case may be, time to time for the services
rendered as an Officer or employee of the Company.
The Directors are also members of the Company and are deemed to be interested in the
Equity Shares, if any, held by them and/or any Equity Shares that may be held by their
relatives, the companies, firms and trusts, in which they are interested as directors,
members, partners, trustees, beneficiaries and promoters and in any dividend distribution
which may be made by our Company in the future. For the shareholding of the Directors,
please refer "Our Management - Shareholding of Directors in our Company"
beginning on page 153 of this Red Herring Prospectus.
Other than our promoter directors, none of the other Directors have any interest in the
promotion of our Company other than in the ordinary course of business.
Except as stated in the chapter "Business Overview " on page 109 of this Red
Herring Prospectus and in the chapter "Restated Financial Statement" on page 169
none of our directors have any interest in the property proposed to be acquired by our
Company.
Except as disclosed in the section titled in "Restated Financial Statements'"
on page 169, our Directors do not have any other interest in our Company or in any
transaction by our Company including, for acquisition of land, construction of buildings
or supply of machinery.
For details with respect to loan from directors and their relatives, please refer to
chapter titled "Restated Financial Statement" on page 169 of this Red Herring
Prospectus.
Payment of benefits (non-salary related)
Except as disclosed above, no amount or benefit has been paid or given within the two
(2) years preceding the date of filing of this Red Herring Prospectus or is intended to be
paid or given to any of our directors except the remuneration for services rendered.
Bonus or profit-sharing plan for the Directors
None of the Directors are party to any bonus or profit-sharing plan of our Company.
Changes in our Company's Board of Directors during the last three (3) years
Following are the changes in the Board of Directors during the last three (3) years
Name of Directors |
Date of Appointment |
Date of Change in Designation/Cessation |
Reasons for changes in the Board |
Ankit Anilbhai Agrawal |
June 23, 2022 |
- |
Appointment as an Executive Director |
Anilkumar Prakashchandra Agrawal |
January 08, 2025 |
- |
Appointment as Managing Director |
Parimal Patva |
January 01, 2025 |
- |
Appointed as Non-executive independent Director |
Parimal Patva |
- |
February 17, 2025 |
Resignation |
Sona Sunderlal Bachani |
January 01, 2025 |
- |
Appointed as Additional NonExecutive Independent Director |
Virendra Khandelwal |
January 01, 2025 |
- |
Appointed as Additional Non-Executive Independent Director |
Sona Sunderlal Bachani |
- |
January 03, 2025 |
Regularized as Non-executive Independent Director |
Virendra Kumar Khandelwal |
- |
January 03, 2025 |
Regularized as Non-executive Independent Director |
Rahul Hareshbhai Modi |
February 17, 2025 |
- |
Appointed as additional Non-executive Independent Director |
Rahul Hareshbhai Modi |
- |
March 03, 2025 |
Regularized as Non-executive Independent Director |
Ankit Anilbhai Agrawal |
- |
March 26, 2025 |
Change in designation as Non-executive Director |
Sanjaykumar Kantilal Patel |
- |
March 26, 2025 |
Change in designation as Non-executive Director |
Corporate Governance
In additions to the applicable provisions of the Companies Act, 2013, with respect to
the Corporate Governance, provisions of the SEBI Listing Regulations except Regulations
17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27 and clauses (b) to (i) of sub regulation (2) of
regulation 46 and Para C, D, and E of Schedule will be applicable to our company
immediately upon the listing of Equity Shares on the Stock Exchanges.
Constitutions of Committees
Our Company has constituted the following committees:
1. Audit Committee
Our Company has formed the Audit Committee vide resolution passed in the meeting of
Board of Directors held on March 26, 2025 as per the applicable provisions of the Section
177 of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers)
Rules, 2014 (as amended). The Audit Committee comprises following members.
Name of the Director |
Nature of Directorship |
Position in Committee |
Virendra Kumar khandelwal |
Independent Director |
Chairperson |
Sona Sunderlal Bachani |
Independent Director |
Member |
Anilkumar Prakashchandra Agrawal |
Managing Director |
Member |
The Company Secretary of our Company shall act as a Secretary of the Audit Committee.
The Chairman of the Audit Committee shall attend the Annual General Meeting of our Company
to furnish clarifications to the shareholders in any matter relating to financial
statements. The scope and function of the Audit Committee and its terms of reference shall
include the following:
Terms of reference:
Role of Audit Committee
The scope of audit committee shall include, but shall not be restricted to, the
following:
1. Oversight of the listed entity's financial reporting process and the disclosure of
its financial information to ensure that the financial statement is correct, sufficient
and credible;
2. Recommendation for appointment, remuneration and terms of appointment of auditors of
the listed entity;
3. Approval of payment to statutory auditors for any other services rendered by the
statutory auditors;
4. Reviewing, with the management, the annual financial statements and auditor's report
thereon before submission to the board for approval, with particular reference to:
a. matters required to be included in the director's responsibility statement to be
included in the board's report in terms of clause (c) of sub-section (3) of Section 134 of
the Companies Act, 2013;
b. changes, if any, in accounting policies and practices and reasons for the same;
c. major accounting entries involving estimates based on the exercise of judgment by
management;
d. significant adjustments made in the financial statements arising out of audit
findings;
e. compliance with listing and other legal requirements relating to financial
statements;
f. disclosure of any related party transactions;
g. modified opinion(s) in the draft audit report;
5. Reviewing, with the management, the quarterly financial statements before submission
to the board for approval;
6. Reviewing, with the management, the statement of uses/application of funds raised
through an issue (public issue, rights issue, preferential issue, etc.), the statement of
funds utilized for purposes other than those stated in the offer
document/prospectus/notice and the report submitted by the monitoring agency monitoring
the utilisation of proceeds of a public or rights issue, and making appropriate
recommendations to the board to take up steps in this matter;
7. Reviewing and monitoring the auditor's independence and performance, and
effectiveness of audit process;
8. Approval or any subsequent modification of transactions of the listed entity with
related parties;
9. Scrutiny of inter-corporate loans and investments;
10. Valuation of undertakings or assets of the listed entity, wherever it is necessary;
11. Evaluation of internal financial controls and risk management systems;
12. Reviewing, with the management, performance of statutory and internal auditors,
adequacy of the internal control systems;
13. Reviewing the adequacy of internal audit function, if any, including the structure
of the internal audit department, staffing and seniority of the official heading the
department, reporting structure coverage and frequency of internal audit;
14. Discussion with internal auditors of any significant findings and follow up there
on;
15. Reviewing the findings of any internal investigations by the internal auditors into
matters where there is suspected fraud or irregularity or a failure of internal control
systems of a material nature and reporting the matter to the board;
16. Discussion with statutory auditors before the audit commences, about the nature and
scope of audit as well as post-audit discussion to ascertain any area of concern;
17. To look into the reasons for substantial defaults in the payment to the depositors,
debenture holders, shareholders (in case of non-payment of declared dividends) and
creditors;
18. To review the functioning of the whistle blower mechanism;
19. Approval of appointment of chief financial officer after assessing the
qualifications, experience and background, etc. of the candidate;
20. Carrying out any other function as is mentioned in the terms of reference of the
audit committee.
21. Reviewing the utilization of loans and/ or advances from/investment by the holding
company in the subsidiary exceeding rupees 100 crore or 10% of the asset size of the
subsidiary, whichever is lower including existing loans/advances/investments existing as
on the date of coming into force of this provision.
22. Consider and comment on rationale, cost-benefits and impact of schemes involving
merger, demerger, amalgamation etc., on the listed entity and its shareholders.
Review of information by Audit Committee
The audit committee shall mandatorily review the following information:
1. Management discussion and analysis of financial condition and results of operations;
2. Management letters/letters of internal control weaknesses issued by the statutory
auditors;
3. Internal audit reports relating to internal control weaknesses; and
4. The appointment, removal and terms of remuneration of the chief internal auditor
shall be subject to review by the audit committee.
5. Statement of deviations:
a. quarterly statement of deviation(s) including report of monitoring agency, if
applicable, submitted to stock exchange(s) in terms of Regulation 32(1).
b. annual statement of funds utilized for purposes other than those stated in the offer
document/prospectus/notice in terms of Regulation 32(7).
2. Stakeholders Relationship Committee
Our Company has formed the Stakeholders Relationship Committee as per Section 178 of
the Companies Act, 2013 and other applicable provisions of the Act read with the Companies
(Meetings of Board and its Powers) Rules, 2014 (as amended) vide board resolution dated
March 26, 2025. The constituted Stakeholders Relationship Committee comprises the
following members:
Name of the Director |
Nature of Directorship |
Position in Committee |
Virendra kumar Khandelwal |
Independent Director |
Chairperson |
Anilkumar Prakashchandra Agrawal |
Managing Director |
Member |
Ankit Anilbhai Agrawal |
Non-Executive Director |
Member |
The Company Secretary of our Company shall act as a Secretary to the Stakeholders
Relationship Committee.
Terms of reference:
The scope of Stakeholders Relationship Committee shall include, but shall not be
restricted to, the following:
• Resolving the grievances of the security holders of the listed entity including
complaints related to transfer/transmission of shares, non-receipt of annual report,
non-receipt of declared dividends, issue of new/duplicate certificates, general meetings
etc.
• Review of measures taken for effective exercise of voting rights by
shareholders.
• Review of adherence to the service standards adopted by the listed entity in
respect of various services being rendered by the Registrar & Share Transfer Agent.
• Review of the various measures and initiatives taken by the listed entity for
reducing the quantum of unclaimed dividends and ensuring timely receipt of dividend
warrants/annual reports/statutory notices by the shareholders of the company.
3. Nomination and Remuneration Committee
Our Company has formed the Nomination and Remuneration Committee as per Section 178 of
the Companies Act, 2013 and other applicable provisions of the Act read with the Companies
(Meetings of Board and its Powers) Rules, 2014 (as amended) vide board resolution dated
March 26, 2025. The Nomination and Remuneration Committee comprises the following members:
Name of the Director |
Nature of Directorship |
Position in Committee |
Virendra kumar Khandelwal |
Independent Director |
Chairperson |
Rahul Hareshbhai Modi |
Independent Director |
Member |
Sona Sunderlal Bachani |
Independent Director |
Member |
The Company Secretary of our Company shall act as a Secretary to the Nomination and
Remuneration Committee. The scope and function of the Committee and its terms of reference
shall include the following:
The terms of reference:
The scope of Nomination and Remuneration Committee shall include, but shall not be
restricted to, the following:
• formulation of the criteria for determining qualifications, positive attributes
and independence of a director and recommend to the board of directors a policy relating
to, the remuneration of the directors, key managerial personnel and other employees;
• For every appointment of an independent director, the Nomination and
Remuneration Committee shall evaluate the balance of skills, knowledge and experience on
the Board and on the basis of such evaluation, prepare a description of the role and
capabilities required of an independent director. The person recommended to the Board for
appointment as an independent director shall have the capabilities identified in such
description. For the purpose of identifying suitable candidates, the Committee may:
o uses the services of an external agencies, if required;
o considers candidates from a wide range of backgrounds, having due regard to
diversity; and
o considers the time commitments of the candidates.
• formulation of criteria for evaluation of performance of independent directors
and the board of directors;
• devising a policy on diversity of board of directors;
• identifying persons who are qualified to become directors and who may be
appointed in senior management in accordance with the criteria laid down, and recommend to
the board of directors their appointment and removal.
• whether to extend or continue the term of appointment of the independent
director, on the basis of the report of performance evaluation of independent directors.
• recommend to the board, all remuneration, in whatever form, payable to senior
management.
Management Organization Structure
The following chart depicts our Management Organization Structure
Key Managerial Personnel and Senior Management Personnel
Our Company is managed by our Board of Directors, assisted by qualified experienced
professionals, who are permanent employees of our Company. Following are the Key
Managerial Personnel and Senior Management Personnel of our Company other than our
directors are as follows: -
Name, Designation and Date of Joining |
Qualification |
Previous Employment |
Overall Experience |
Remuneration paid in previous year (2024-25) ( Rs. in Lakhs) |
Mrs. Shikha Makhija Company Secretary and Compliance Officer D.O.J-
February 17, 2025 |
Company Secretary, B. Com, LLB |
Bestteam Estate Agency India Private Limited |
8 Years in field of Compliance |
0.24 |
Mr. Khanjil Vora, Chief Financial Officer D.O.J- January 08, 2025 |
B. Com, MBA |
|
4 Years in field of Accountancy |
4.80 |
Mr. Rutvik Patel Purchase Head D.O.J - May 01, 2021 |
Diploma in Civil Engineering |
|
4 years in leather Industry |
6.00 |
Mr. Rohit Agrawal Dispatch Head D.O.J - April 01, 2024 |
MBA, B. Com |
|
1 year of experience |
4.80 |
Mrs. Shikha Siddharth Makhija, our Company Secretary and compliance officer, holds
a Bachelor's degree in Commerce from Gujarat University, which she completed in 2015. In
May 2017, she became an associate member of the Institute of Company Secretaries of India
(ICSI). She further pursued and obtained a Bachelor of Law (LLB) degree from Gujarat
University, Ahmedabad, in 2018. With around eight years of expertise in corporate
secretarial practices, corporate governance, company law, SEBI regulations, and FEMA
compliance, she has worked with Bestteam Estate Agency India Private Limited as a Company
Secretary from August, 2020 to February, 2025 & MAAK & Associates from January,
2017 to May, 2020, Mrs. Makhija brings a wealth of knowledge and experience to her role.
Mr. Khanjil Chetan Vora, is the Chief Financial Officer of our company. He
completed degree of Bachelor of Commerce from Gujarat University in year 2016.
Additionally, He has completed his Master of Business Administration in Marketing in year
2019 from L.J. Institute of Management Studies, Ahmedabad. He is working with our company
since June 2021 as a Head of Account & Finance. And on January 08, 2025 he was
designated as Chief Financial Officer of the company. He owns his own proprietorship firm
"M/s. C P Green with four years of expertise in Accounting and Finance, Mr. Vora
brings a wealth of knowledge and experience to his role.
Rohit Agrawal holds a bachelor's degree in commerce (advanced accounting &
auditing) from GLS University, Ahmedabad. He has done Master of Business Administration -
Business Management from NMIMS deemed to be University in year 2024. He has been
associated with our Company since April 01, 2024. He is currently working as Dispatch Head
of our Company. He oversees the final inspection of materials and ensures that all
products meet stringent quality standards before they are dispatched. He has enhanced
operational efficiency and client satisfaction.
Rutvik Patel holds degree of Diploma in Civil Engineering, from Gujarat Technology
University in year 2024. He has been associated with our Company since 2021. He is
currently working as Purchase Head of our Company. He Oversees the purchasing process,
ensuring timely and cost-effective acquisition of goods and services. Mr. Patel has also
demonstrated a keen understanding of inventory control, implementing measures to minimize
waste, reduce storage costs, and maintain accurate record. His initiatives have enhanced
the overall efficiency of the company's supply chain.
Relationship amongst the Key Managerial Personnel of our Company
None of Key Managerial Personnel of our Company are related to each other.
Except Mr. Anil Agrawal, Promoter & Managing Director of our company is Father of
Mr. Ankit Agrawal, Promoter & NonExecutive Director of our company.
Mr. Sanjaykumar Patel, Promoter & NonExecutive Director of our company is Father of
Mr. Rutvik Patel, Promoter & Dipatch Head of our company.
Arrangement and Understanding with Major Shareholders/Customers/ Suppliers
None of the above Key Managerial Personnel have entered into to any arrangement/
understanding with major shareholders/customers/suppliers as on the date of this Red
herring Prospectus
Bonus or profit-sharing plan of the Key Managerial Personnel
Our Company does not have a profit-sharing plan for the Key Management Personnel.
Shareholding of Key Management Personnel and Senior Management Personnel in our Company
Our Key Managerial Personnel & Senior Management Personnel Mr. Anilkumar
Prakashchandra Agrawal, managing director and Mr. Khanjil Chetan Vora, CFO, holds Equity
Shares in our Company as on the date of filing of this Red herring Prospectus as below:
Sr. No. |
Name of the Key Management Personnel |
No. of Equity Shares |
Percentage of Pre-Issue Capital (%) |
1. |
Mr. Anil Agrawal |
7,83,250 |
6.17% |
2. |
Mr. Khanjil Vora |
5,07,603 |
4.00% |
3. |
Mr. Rutvik Patel |
5,80,008 |
4.57% |
4. |
Mr. Rohit Agrawal |
7,65,118 |
6.03% |
|
Total |
26,35,979 |
20.77% |
For further details, please refer to section titled "Capital Structure""
beginning on page 63 of this Red herring Prospectus
Changes in Our Company's Key Managerial Personnel during the last three (3) years
Name of KMP |
Designation |
Date of Event |
Reason |
Mrs. Shikha Siddharth Makhija |
Company Secretary and Compliance Officer |
February 17, 2025 |
Appointed as Company Secretary and Compliance Officer |
Mr. Khanjil Chetan Vora |
Chief Financial Officer |
January 08, 2025 |
Appointed as Chief Financial Officer |
Mr. Rohit Agrawal |
Dispatch Head |
April 01, 2024 |
Appointed as Dispatch Head |
Interest of Key Managerial Personnel and Senior Management Personnel
Except as disclosed in this Red herring Prospectus, the Key Managerial Personnel and
Senior Management Personnel of our Company do not have any interest in our Company other
than to the extent of their shareholding, remuneration or benefits to which they are
entitled to as per their terms of appointment and reimbursement of expenses incurred by
them during the ordinary course of business.
Employee Stock Option or Employee Stock Purchase or Stock Appreciation Right Scheme
Our Company has not granted any options or allotted any Equity Shares under the ESOP
Scheme or Employee Stock purchase scheme and Appreciation Right Scheme as on the date of
this Red Herring Prospectus.
Payment of Benefits to of Our Key Managerial Personnel (non-salary related)
Except as disclosed in this Red Herring Prospectus other than any statutory payments
made by our Company to its KMPs, our Company has not paid any sum, any non-salary related
amount or benefit to any of its officers or to its employees.
For further details, please refer section titled ‘Restated Financial Statements'
beginning on page 169 of this Red Herring Prospectus.
OUR PROMOTERS AND PROMOTER GROUP
The Promoter of our Company are:
Anilkumar Prakashchandra Agrawal* aged 53 years, is the Managing Director of our
company.
Date of Birth: October 21, 1972
Personal Address: B-25, Madhukunj Society, Kashi Vishvnath Mandir, Maninagar,
Ahmedabad, Gujarat, 380008
Permanent Account Number: ABGPA0564Q
For the complete profile of Anilkumar Prakashchandra Agrawal, along with details of his
address, educational qualifications, experience in the business or employment,
position/posts held in the past, directorships held, other ventures, special achievements
and business and financial activities, see Chapter "Our Management" on page 149
of this Red Herring Prospectus.
Sanjaykumar Kantilal Patel* aged 57years, is the Non Executive Director of our
company.
Date of Birth: January 02, 1969
Personal Address: B/201, Harekrushna Residency Nr. Shrinand City, Ramol, New
Maninagar, Ahmedabad, Gujarat- 382449
Permanent Account Number: AGHPP0089K
For the complete profile of Sanjaykumar Kantilal Patel, along with details of his
address, educational qualifications, experience in the business or employment,
position/posts held in the past, directorships held, other ventures, special achievements
and business and financial activities,see "Our Management" on page 149 of this
Red Herring prospectus.
Ankit Anilbhai Agrawal aged 32 years, is the Non Executive Director of our company.
Date of Birth: October 13, 1993
Personal Address: B-25, Madhukunj Society, kashi vishvnath mandir, Maninagar,
Ahmedabad, Gujarat, 380008
Permanent Account Number: BHCPA3674A
For the complete profile of Ankit Anilbhai Agrawal, along with details of his address,
educational qualifications, experience in the business or employment, position/posts held
in the past, directorships held, other ventures, special achievements and business and
financial activities,see "Our Management" on page 149 of this Red-herring
prospectus.
Mohit Ashokkumar Agrawal aged 28 years, is the Executive Director of our company.
Date of Birth: October 27, 1997
Personal Address: 7, Gokul Bunglows, 17 charotar patel society, Maninagar,
Ahmedabad, Gujarat, 380008
Permanent Account Number: BTKPA1247D
For the complete profile of Mohit Ashokkumar Agrawal, along with details of his
address, educational qualifications, experience in the business or employment,
position/posts held in the past, directorships held, other ventures, special achievements
and business and financial activities,see "Our Management" on page 149 of this
Red-herring prospectus.
Rohit Dineshbhai Agrawal aged 24 years, is the Promoter of our company. He is an
Indian national.
Date of Birth: December 19, 2001
Personal Address: A/26, Madhukunj Society, B/h Kashivishvnath Mahadev Temple,
Maninagar (East), Ahmedabad City, PO: Maninagar, DIST: Ahmedabad, Gujarat - 380008
Permanent Account Number: DPIPA3197A
He holds a bachelor's degree in commerce (advanced accounting & auditing) from GLS
University, Ahmedabad. He has done Master of Business Administration - Business Management
from NMIMS deemed to be University in year 2024. He has been associated with our Company
since April 01, 2024. He is currently working as Dispatch Head of our Company. He oversees
the final inspection of materials and ensures that all products meet stringent quality
standards before they are dispatched. _ He has enhanced operational efficiency and client
satisfaction.
Rutvik Patel aged 25 years, is the Promoter of our company.
Date of Birth: March 22, 2000
Personal Address: B/201, Harekrushna Residency, Nr.Shreenand Residency, New
Maninagar, Ramol , Ahmedabad , Gujarat, India, 382449
Permanent Account Number: ERGPP1130K
Mr. Patel holds degree of Diploma in Civil Engineering, from Gujarat Technology
University in year 2024. He has been associated with our Company since 2021. He is
(currently working as Purchase Head of our Company. He Oversees the purchasing process,
ensuring timely and cost-effective acquisition of goods and services. Mr. Patel has also
demonstrated a keen understanding of inventory control, implementing measures to minimize
waste, reduce storage costs, and maintain accurate record. His initiatives have enhanced
the overall efficiency of the company's supply chain.
Shubham Sunilbhai Agrawal* aged 27 years, is the Promoter of our company.
Date of Birth: July 13, 1998
Personal Address: 6-Abhijan Society, Maninagar East, Near Madhukunj Society,
Ahmedabad City, Gujarat - 380008
Permanent Account Number: BWIPA3076K
Mr. Agrawal holds a Bachelor of Engineering degree in Plastic Technology from Gujarat
Technological University, which he completed in January 2019. He is Head of producation
& marketing Department in Elegant Vinyl Private Limited Since 2019. He has got the
expeience of more than 5 years.
* In whole RHP the names of the promoters has been taken as per their Passport.
For details of the build-up of our Promoter shareholding in our Company, please see
"Capital Structure - Shareholding of our Promoter " beginning on page no 74 of
this Red Herring Prospectus.
Confirmations
We confirm that the details of the permanent account numbers, bank account numbers,
passport numbers, Aadhar card and Driving License of our Promoters will be submitted to
the Stock Exchange at the time of filing the Red Herring Prospectus with the Stock
Exchange.
Further, our Promoters has confirmed that they have not been declared as willful
defaulters or Fraudulent Borrower by the RBI or any other governmental authority and there
are no violations of securities laws committed by them in the past or are currently
pending against them.
Additionally, none of the Promoters have been restrained from accessing the capital
markets for any reasons by the SEBI or any other authorities.
Other ventures of Promoters
Save and except as disclosed in this section titled "our promoter and Promoter
Group", there are no ventures promoted by our promoters in which they have any
business interest or any other interest as on the date.
Change in the management and control of the Issuer
Our Promoters are the original Promoter of our Company and there has been no change in
the control of our Company from the inception of the company.
Relationship of Promoters with our directors
None of the Promoter of the Company is related to Directors of the Company as per
section 2(77) of the Companies Act, 2013, Except as under:
Mr. Anilkumar Prakashchandra Agrawal, Promoter & Managing Director of our company
is Father of Mr. Ankit Anilbhai Agrawal, Promoter & Non-Executive Director of our
company.
Mr. Sanjaykumar Kantilal Patel, Promoter & Non-Executive Director of our company is
Father of Mr. Rutvik Patel, Promoter of our company.
Interest of Promoter
Our Promoters are interested in our Company to the extent of the promotion of our
Company and to the extent of their shareholdings, Managing and Directorship in our Company
and the shareholding of their relatives in our Company and the dividend declared and due,
if any, and employment related benefits, if any paid by our Company. For further details,
please refer chapters titled "Capital Structure" and "Our Management'
beginning on pages 63 and 149, respectively of this Red Herring Prospectus. For further
details, please refer chapters titled "Capital Structure - Shareholding of our
Promoter and Promoter Group" beginning on page 74 and "Restated Financial
Statements'' on page 169, respectively of this Red Herring Prospectus.
Our Promoters are not interested as a member in any firm or company which has any
interest in our Company. Further, no sum has been paid or agreed to be paid to our
Promoters or to any firm or company in which our Promoters are interested as a member or
proprietor or partner, in cash or shares or otherwise by any person either to induce our
Promoter to become, or qualify him as a director, or otherwise for services rendered by
our Promoter or by such firm or company in connection with the promotion or formation of
our Company.
Interest in the properties of our Company
Our Promoter Mr. Sanjaykumar Kantilal Patel has given property situated at Survey No.
1134, Near Elegant Vinyl Private Limited, Daskroi, Ahmedabad, Gujarat, India, 382430 on
leasehold basis for a period of 10 years from November 01, 2020. For further details,
please refer chapters titled "Business Overview" beginning on pages 109 of this
Red herring Prospectus.
Except for this, neither our Promoters nor members of the Promoter Group have any
interest in any property acquired or proposed to be acquired by our Company during the
three years preceding the filing of the Red Herring Prospectus.
Other Interest
Our Promoters are not interested in any transaction for acquisition of land or
property, construction of building and supply of machinery, or any other contract,
agreement or arrangement entered into by the Company and no payments have been made or are
proposed to be made in respect of these contracts, agreements or arrangements.
Payment of benefits to our Promoter
Except as stated in the Note Y "Related Party Transactions" under section
titled "Restated financial statements" on page 197 of this Red Herring
Prospectus, there has been no payment of benefits to our Promoter during the two years
preceding the filing of this Red Herring Prospectus.
Guarantees
Except as stated in the section titled ""Restated Financial Statements"
beginning on page 169 of this Red Herring Prospectus, there are no material guarantees
given by the Promoters to third parties with respect to specified securities of the
Company as on the date of this Red Herring Prospectus.
Details of Companies/Firms from which our Promoter have disassociated
Except as below, Our Promoters have not disassociated themselves from any firms or
companies in the last three (3) years preceding the date of this Red Herring Prospectus.
Sr. No. |
Name of the Promoter |
Name of Firms/Companies |
Designation |
Date of Cessation |
Reason/Circumstances for Disassociation |
1. |
Ankit Anilbhai Agrawal |
M/s Aritas Exim LLP |
Designated Partner |
October 04, 2024 |
Strike Off |
2. |
Anil Prakashchandra Agrawal |
M/s Maximo Ceramic |
Partner |
April 07, 2025 |
Voluntary retirement |
3. |
Sanjaykumar Kantilal Patel |
M/s Maximo Ceramic |
Partner |
April 07, 2025 |
Voluntary retirement |
Our Promoter Group
Our Promoter Group in terms of Regulation and 2(1) (pp) of the SEBI ICDR Regulations,
2018. In addition to our Promoter named above, the following individuals and entities form
a part of the Promoter Group:
A. Individual persons who are part of our Promoter Group
Promoters: Anil Prakashchandra Agrawal, Ankit Anilbhai Agrawal, Mohit Ashokkumar
Agrawal, Rohit Dineshbhai Agrawal, Rutvik Patel, Sanjaykumar Kantilal Patel, Shubham
Sunilbhai Agrawal
|
Relationship with promoter |
|
Promoter |
Anilkumar Prakashchandra Agrawal |
Ankit Anilbhai Agrawal |
Mohit Ashokkumar Agrawal |
Father |
Prakshchandra Agrawal |
Anilkumar Prakashchandra Agrawal |
Agrawal Ashokkumar I Bhagwandas |
Mother |
Agrawal Shilaben Prakashchandra |
Agrawal Nitaben Anilkumar |
Nirmalaben Ashokkumar Agrawal |
Spouse |
Agrawal Nitaben Anilkumar |
Bhumi Ankit Agrawal |
Agrawal Nancy Mohit |
Brother |
Agrawal Sunilkumar Prakashchandra |
- |
- |
|
Dineshkumar Prakashchand Agrawal |
|
|
Sister |
|
|
Agrawal Shivani Kalpesh Kumar |
|
Ashaben Rajendra Agrawal |
Kajal Anilbhai Agrawal |
Arati Ashokkumar Agrawal |
Son |
Ankit Anilbhai Agrawal |
Dhiyansh Ankit Agrawal |
- |
Daughter |
Kajal Anilbhai Agrawal |
- |
- |
Spouse's Father |
Shivcharan Agrawal |
Birendra Dhaniram Agrawal |
Agrawal Pritkumar |
Spouse's Mother |
Urmilaben Shivcharan Agrawal |
Savitri Birendra Agrawal |
Sweta Preetkumar Agrawal |
Spouse's Brother |
Sanjaybhai Agrawal |
Pavan Birendra Agrawal |
Agrawal Rishi |
Spouse's Sister |
Manishaben L Agrawal |
Suraj Birendra Agrawal |
- |
|
Vinitaben Agrawal |
|
|
|
Agrawal Gopiben |
|
|
|
Relatio |
nship with promoter |
|
Promoter |
Rohit Dineshbhai Agrawal |
Rutvik Patel |
Sanjaykumar Kantilal Patel |
Father |
Dineshkumar Prakashchand Agrawal |
Patel Sanjaykumar Kantilal |
Late Kantibhai Patel |
Mother |
Anjuben Dineshkumar Agrawal |
Patel Hetalben Sanjaybhai |
Patel Manjulaben |
Spouse |
- |
Jahanviben Rutvik Patel |
Hettalben Sanjaybhai Patel |
Brother |
- |
- |
Umakant Patel |
Sister |
|
Patel Siddhiben |
- |
|
Agrawal Prachi Dineshbhai |
Janviben Sanjaybhai Patel |
|
Son |
- |
- |
Rutvik Patel |
Daughter |
|
- |
Patel Siddhiben |
|
|
|
Janviben Sanjaybhai Patel |
Spouse's Father |
- |
Nitinkumar Ishwarbhai Patel |
Late Chandubhai Chotabhai Patel |
Spouse's Mother |
- |
Minakshiben Nitinkumar Patel |
Late Sarojben Chandubhai Patel |
Spouse's Brother |
- |
Jigarkumar Patel |
Piyush Chandubhai Patel |
Spouse's Sister |
- |
- |
- |
Promoter |
Shubham Sunilbhai Agrawal |
Father |
Agrawal Sunilkumar Prakashchandra |
Mother |
Agrawal Jyotsnaben Sunilkumar |
Spouse |
Prachi Prabhakar Dekate |
Brother |
- |
Sister |
Agrawal Palak |
Son |
- |
Daughter |
- |
Spouse's Father |
Prabhakar J Dekate |
Spouse's Mother |
Vandana Prabhakar Dekate |
Spouse's Brother |
- |
Spouse's Sister |
Trupti Parag Kuhikar |
Companies, Proprietary concerns, HUF's related to our promoter
Nature of Relationship |
Entity |
Anybody corporate in which twenty per cent. or more of the equity
share capital is held by the promoters or an immediate relative of the promoters or a firm
or Hindu Undivided Family in which the promoters or any one or more of their relative is a
member |
|
Anybody corporate in which a body corporate as provided in above holds
twenty per cent. or more, of the equity share capital; and |
- |
Any Hindu Undivided Family or firm in which the aggregate share of the
promoters and their relatives is equal to or more than twenty per cent. of the total
capital; |
1. Dhanlaxmi Construction |
|
2. Elegant Vinyl Private limited |
|
3. A.P. Agrawal HUF |
|
4. Sanjay Patel HUF |
For further details on our Promoter Group refer Chapter Titled "Financial
Information of our Group Companies" beginning on page no. 225 of the Red Herring
Prospectus.
|