To The Members,
Duncan Engineering Limited
The Directors are pleased to present the 62 nd Annual Report with the
Audited Annual Financial Statements for the Financial Year ended 31 st March, 2023 of the
Duncan Engineering Limited ("the Company" or "DEL").
1. Summary of Financial Results
(INR. in Lakhs)
Particulars |
2022-23 |
2021-22 |
Revenue from Operations |
7009.52 |
5576.81 |
Other Income |
148.61 |
60.93 |
Total Revenue |
7158.13 |
5637.74 |
Profit/(Loss) Before Tax |
1292.72 |
847.47 |
Provision for Tax |
302.37 |
223.00 |
Profit/(Loss) after Tax |
990.35 |
624.47 |
Other Comprehensive Income/(loss)(Net of Tax) |
(16.19) |
4.28 |
Amount Available for Appropriation |
974.16 |
628.75 |
Appropriation: |
|
|
Interim Dividend on Equity Shares |
0.00 |
0.00 |
Final Dividend for Previous Year |
0.00 |
0.00 |
Balance Carried to Balance Sheet |
974.16 |
628.75 |
2. Dividend
The Directors recommended a final dividend of 10% (Re. 1/- per share)
for the year ended 31 st March 2023. (Previous Year Final Dividend: Nil). Total dividend
pay-out is Rs. 36.96 Lakhs. The payment of dividend is subject to deduction of TDS at the
applicable tax rate.
In terms of Regulation 43A of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations 2015 including amendments thereunder, the Dividend
Distribution Policy is not applicable to the Company.
3. Share Capital
The Authorised share capital of the Company is Rs. 5,00,00,000/- i.e.
50,00,000 nos of equity shares of Rs. 10/- each. The Issued, Subscribed & Paid-up
share capital of the Company is Rs. 3,69,60,000/- i.e. 36,96,000 nos of equity shares of
Rs. 10/- each. There was no issue of securities during the year.
4. Financial performance and state of the Company's a airs
Your Company posted sales of Rs. 7009.52 Lakhs, an increase of 25.69 %
as compared to the previous year of Rs. 5576.81 Lakhs. Profit before tax was Rs. 1292.72
Lakhs as against Rs. 847.47 Lakhs in the previous year. The Profit After Tax was Rs.
990.35 Lakhs as against Rs 624.47 Lakhs in the previous year.
There has been no change in business during the financial year under
review. Discussion on the state of Company's a airs is covered in the Management
Discussion and Analysis.
5. Internal Financial Controls
Your Company has an internal control system, commensurate with the
size, scale, and complexity of its operations. Internal Audit is conducted throughout the
organization by qualified Internal Auditors. Findings of the Internal Audit Report are
reviewed by top Management and by the Audit Committee of the Board. Pipalia Singhal &
Associates is the Internal Auditor of the Company.
The internal financial controls with reference to financial statements
as designed and implemented by the Company are adequate. During the year under review, no
material or serious observations were received from the Statutory Auditors and the
Internal Auditors of the Company on the efficiency or adequacy of such controls.
6. Public Deposits
Your Company has not accepted any deposits from the public or
shareholders falling within the ambit of Section 73 of the
Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules,
2014, as amended from time to time.
7. Particulars of loans/advances/investments outstanding during
the financial year
During the year under review, the company has invested in 2318.73
Lakhs. The details are given in the notes to the financial statements [Note no. 10 (i)].
The Company has not granted any Loans and Guarantees covered under Section 186 of the
Companies Act, 2013 & Rules thereof including amendments thereunder.
8. Report on the performance and financial position of
subsidiaries, associates, and joint venture companies
During the year under review, your Company did not have any subsidiary,
associate and joint venture company. Your
Company is a listed material subsidiary of Oriental Carbon &
Chemicals Limited.
9. Corporate Social Responsibility
The Company recognises that effective practice of Corporate Social
Responsibility (CSR) is required giving due consideration to the welfare of the community,
environment and social structure that it operates in and that of the country including
focus welfare areas identified by the State and Central Governments. The focus areas taken
in the policy are education, health care and family welfare, environmental safety,
contribution to any relief fund setup by the Government of India and any State Government.
The Company has adopted the Corporate Social Responsibility Policy in
line with the Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended
from time to time. The Report on CSR activities is annexed herewith as Annexure A.
10. Auditors and their Reports
A. Statutory Audit
At the Annual General Meeting held on July 29, 2020, the members have
approved the appointment of S. S. Kothari Mehta & Co. Chartered Accountants,
(Registration No.000756N) as a Statutory Auditor of the Company for a period of ve
consecutive years up to the conclusion of 64th Annual General Meeting to be held in the
calendar year 2025.
The Company has received a certificate from the said Auditors that they
are eligible to hold officeas the Auditors of the Company and are not disqualified in
accordance with the provisions of the Companies Act, 2013 and SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015.
Statutory Audit Report
The Auditor's Reports on the Financial Statements for the
financial year ended March 31, 2023, does not contain any qualification, reservation or
adverse remark requiring any explanations / comments by the Board of Directors.
There was no instance of fraud during the year under review, which
required the Statutory Auditors to report to the Audit Committee and/or Board under
Section 143(12) of Act & Rules thereof including amendments thereunder.
B. Secretarial Audit
As required under the provisions of Section 204 of the Companies Act,
2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014,
the Board of Directors appointed Shaswati Vaishnav & Associates, Company Secretary in
Practice (Membership No: 11392) to conduct Secretarial Audit of the Company for the year
ended 31st March 2023.
The Secretarial Audit Report is enclosed as a part of this Report as
Annexure B. Mrs. Shaswati Vaishnav, Company Secretary in Practice in her Secretarial Audit
Report has provided observation/remark which are self-explanatory. There are no quali
cations, reservations, or adverse remarks in the Secretarial Audit Report for FY 2022-23.
C. Cost Record & Audit
Pursuant to Section 148 of the Companies Act, 2013 read with the
Companies (Cost Records and Audit) Rules, 2014, as amended from time to time, the cost
audit records maintained by the Company for FY 2022-23 are not required to be audited.
11. Board of Directors and Key Managerial Personnel
A. Changes in the Directors & Key Managerial Personnel (KMP)
i. During the financial year 2022-23
- Mr. B B Tandon (DIN: 00740511), Non-Executive & Independent
Director has tendered his resignation w.e.f. 19.07.2022 on account of his health and
personal reasons. He con rmed that there was no other material reason for his resignation
other than those mentioned in his resignation letter dated 19.07.2022. The resignation
letter which includes the above confirmation was led with BSE Limited on 19.07.2022.
- Mr. Raghu Raman resigned as the Chief Financial Officer & Key
Managerial Personnel w.e.f. 17.05.2022.
- Mr. Kamal Saria was appointed as the Chief Financial Officer &
Key Managerial Personnel w.e.f. 18.05.2022.
- Mr. Rajib Gope resigned as the Company Secretary, Compliance Officer
& Key Managerial Personnel w.e.f. 22.07.2022.
- Ms. Sayalee Yengul was appointed as the Company Secretary, Compliance
Officer & Key Managerial Personnel w.e.f. 01.11.2022.
The above changes in the Directors and KMPs of the Company were placed
before and approved by the Board of Directors on the recommendation of the Nomination
& Remuneration Committee and Audit Committee, where necessary.
ii. During the financial year 2023-24
- In compliance with Section 149 of the Companies Act, 2013 & Rules
thereof including amendments thereunder and SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 including amendments thereunder, based on the
recommendation of the Nomination and Remuneration Committee, the Board of Directors of the
Company appointed Mr. Mahesh Krishna (DIN: 00909208) as an Additional Director of the
Company in the capacity of "Non-Executive Independent Director" with effect from
16th May 2023. In accordance with Section 161 of the Companies Act, 2013 & Rules
thereof including amendments thereunder, he will hold office of Director up to date of
ensuing Annual General Meeting. The Company has received requisite notice in writing from
a member proposing his candidature for the officeof Director. The resolution seeking
approval of the Members by special resolution for the appointment of Mr. Mahesh Krishna
for a first term of 5 ( ve) consecutive years, has been incorporated in the Notice of the
forthcoming Annual General Meeting of the Company
- Mr. JP Goenka (DIN 00136782) retires by rotation at the ensuing
Annual General Meeting has not offered himself for re-appointment. The Board has resolved,
subject to approval of shareholders, that the vacancy in the Board so created shall not be
lled.
- In compliance with Section 149 of the Companies Act, 2013 & Rules
thereof including amendments thereunder and SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 including amendments thereunder, based on the
recommendation of the Nomination and Remuneration Committee, the Board of Directors of the
Company has recommended appointment of Ms. Sheila Singla (DIN: 02266630) as a
Non-Executive Independent Director at the ensuing Annual General Meeting of the Company.
The resolution seeking approval of the Members by special resolution for the appointment
of Ms. Sheila Singla for a first term of 5 (five) consecutive years, has been incorporated
in the Notice of the forthcoming Annual General Meeting of the Company.
The Board of Directors considers that the above-mentioned directors
possess the requisite expertise and experience (including the proficiency) and they are
persons of high integrity and repute and accordingly approved/recommended their
appointment subject to the approval of the Members of the Company.
The brief resumes and other details relating to the Directors who are
proposed to be appointed / re-appointed, as required to be disclosed under SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 including amendments
thereunder, forms part of the Notice of Annual General Meeting.
B. Compliance of Code of Conduct for Directors and Senior Management
Personnel.
Declaration on compliance of Code of Conduct is received from Directors
and Senior Management Personnel.
The Code of Conduct for Directors and Senior Management Personnel is
displayed on the Company's website. The Managing Director of the Company has given a
declaration that all Directors and Senior Management Personnel a rmed compliance with the
code of conduct with reference to the financial year ended on 31st March 2023. The
declaration is annexed to the Corporate Governance Report as Annexure A.
C. Remuneration of Managing Director:
Mr. Akshat Goenka, Managing Director of the Company who is also serving
as Joint Managing Director of the Oriental Carbon & Chemicals Limited (OCCL), Holding
Company of Duncan Engineering Limited (DEL) received a remuneration of Rs. 12,000/- and
Rs. 66.92 Lakhs as commission from DEL and Rs. 227.07 Lakhs as remuneration from OCCL for
the year ended March 31, 2023. The details of the above remuneration are given in the
Corporate Governance Report.
The re-appointment and remuneration of Mr. Akshat Goenka as Managing
Director of the Company w.e.f. 09.02.2022 to 08.02.2027 was approved by the Shareholders
vide special resolution passed at the Annual General Meeting of the Company held on
23.07.2021. He is also designated as the Key Managerial Personnel of the Company.
D. Declaration by Independent Directors
The Company has received declarations from all the Independent
Directors of the Company confirming that they meet the criteria of independence as
prescribed under Section 149 (7) of the Companies Act, 2013 & Rules thereof including
amendments thereunder and Regulation 16(1)(b) & 25(8) of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 including amendments thereunder.
The Company has also received declarations from all the Independent
Directors of the Company confirming that they have complied with the Code for Independent
Directors as prescribed in Schedule IV to the Companies Act 2013 including amendments
thereunder. The said Code is available on the Company's website.
All the Independent Directors of the Company have enrolled themselves
in the data bank with the Indian Institute of Corporate A airs', New Delhi,
India and eligible Independent Directors have completed the proficiency test.
E. Performance Evaluation
Pursuant to the provisions of the Companies Act, 2013 and Regulation
25(3) & (4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, the Independent Directors in their meeting held on January 24, 2023 have evaluated
the performance of Non-Independent Directors, Chairperson of the Company after considering
the views of the Executive and Non-Executive Directors, Board as a whole and assessed the
quality, quantity and timeliness of flow of information between the Company's
Management and the Board.
The Nomination and Remuneration Committee has also carried out
evaluation of performance of every Director of the Company. Based on evaluation made by
the Independent Directors and the Nomination and Remuneration Committee and by way of
individual and collective feedback from the Non-Independent Directors, the Board has
carried out the annual performance evaluation of the Directors individually as well as
evaluation of the working of the Board as a whole and Committees of the Board.
Feedback was sought by way of a structured questionnaire covering
various aspects of the Board's functioning such as adequacy of the composition of the
Board and its Committees, Board culture, execution and performance of specific duties,
obligations and governance and the evaluation was carried out based on responses received
from the Directors. The manner in which the evaluation has been carried out is explained
in the Corporate Governance Report.
The Independent Directors are regularly updated on industry &
market trends, plant process, and operational performance of the Company, etc., through
presentations in this regard. They are also periodically kept aware of the latest
developments in the Corporate Governance, their duties as directors and relevant laws.
The Directors expressed their satisfaction with the evaluation process.
The result of evaluation was satisfactory and meets the requirements of the Company.
F. Director's Responsibility Statement
Pursuant to Section 134 of the Companies Act, 2013, including rules
made thereof and amendments thereunder, the Directors state that,
a) In the preparation of the annual accounts for the financial year
ended 31st March 2023, the applicable Accounting Standards have been followed and that no
material departures have been made from the same;
b) They have selected such accounting policies, and applied them
consistently and made judgments and estimates that are reasonable and prudent so as to
give a true and fair view of the state of a airs of the Company as at 31st March 2023, and
of the profit of the Company for the year ended on that date;
c) They have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of the Companies Act, 2013,
including rules made thereof and amendments thereunder, for safeguarding assets of the
Company and for preventing and detecting fraud and other irregularities;
d) They have prepared the annual accounts on a going concern basis; e)
They have laid down internal financial controls to be followed by the Company and such
internal financial controls are adequate and operating effectively; and
f) They have devised proper systems to ensure compliance with
provisions of all applicable laws and such systems are adequate and operating effectively.
12. Disclosure related to the Board, Committees and Policies
A. Board and Committee Meetings
During the year four Board Meetings were convened and held on May 17,
2022, July 22, 2022, November 1, 2022, and January 24, 2023. On January 24, 2023, a
separate meeting of Independent Directors was held. The intervening gap between the
Meetings was within the period prescribed under the Companies Act, 2013. The details of
Board Meetings and attendance of each Director is provided in the Corporate Governance
Report.
The Composition of Committees of the Board viz. Audit Committee,
Nomination and Remuneration Committee, and Stakeholders' Relationship Committee,
their meetings and attendance of Committee members, forms part of the Report on Corporate
Governance. During the year under review, the Board has accepted all the recommendations
given by the Committees of the Board, which are mandatorily required.
B. Nomination and Remuneration Policy
The Board of Directors, on the recommendation of the Nomination &
Remuneration Committee, has adopted a policy that lays guidelines for selection and
appointment of Directors, Key Managerial Personnel and Senior Management personnel
together with their remuneration. The Nomination and Remuneration Policy is available on
the website of the Company (Web link: https://www.duncanengg.com/sites/default/
les/Policy%20Procedures%20and%20other%20Compliances/Remuneration%20Policy_0.pdf).
C. Vigil Mechanism/Whistle Blower Policy
The Company has adopted a Vigil Mechanism / Whistle Blower Policy. The
Policy provides a mechanism for employees of the Company and other persons dealing with
the Company to report to the Chairman of the Audit Committee any instance of unethical
behaviour, actual or suspected fraud or violation of the Company's code of conduct or
leakage of Unpublished Price Sensitive Information (UPSI), by any person, who is in
possession of UPSI, to any other person in any manner whatsoever, except as otherwise
permitted under the SEBI (Prohibition of Insider Trading) Regulations or any other
instance.
No person has been denied access to the Audit Committee in this regard.
There were no complaints led / pending with the Company during the year. The Policy is
uploaded on the Company's website (Web link:
https://www.duncanengg.com/sites/default/
les/Policy%20Procedures%20and%20other%20Compliances/Vigil%20Mechanism%20And%20Whistle%20Blower%20Policy.pdf).
D. Risk Management
The Board of Directors of the Company looks into the element of risk
associated with the Company. At present the company has not identified any element of risk
which in the opinion of the Board may threaten the existence of the Company. However,
risks like uneven demand-supply, labour unrest', high employee turnover ratio etc.
may adversely affect the performance of the Company in the upcoming financial year.
The Risk Assessment is also discussed in the Management Discussion and
Analysis.
E. Policy on Prevention of Sexual Harassment (POSH)
The Company has in place a Policy for prevention of sexual harassment
at workplace. This inter alia provides a mechanism for the resolution, settlement or
prosecution of acts or instances of sexual harassment at work and ensures that all
employees are treated with respect and dignity. The Company has complied with the
provisions relating to the constitution of internal complaints committee under the Sexual
Harassment of Women at workplace (Prevention, Prohibition and Redressal) Act, 2013.
There were no complaints led / pending with the Company during the
year.
F. Safety & Health
In last three financial years the Company rose through various
challenges posed by COVID-19 pandemic. The Company initiated a response to safeguard
employees at its plant and Office. Social distancing and sanitization norms were
established as per government guidelines. The management stayed in touch with its
employees through virtual meetings. Rapid Antigen Test were carried out within
Company's Plant premises. The Company collaborated with a private hospital through
MIDC to provide COVID-19 vaccine free of cost to all its eligible employees, including
third party contract employees.
13. OTHER DISCLOSURES
A. Annual Return
As required under Section 92(3) read with section 134(3)(a) of the
Companies Act 2013 read with rule 12 of the Companies (Management and Administration)
Rules, 2014 including amendments thereunder, the Annual Return led with the Ministry of
Corporate A airs (MCA) for the Financial Year 2021-22 is available on the (Web-link:
https://www.duncanengg.com/sites/default/ les/Annual%20Return%2031.03.2022.pdf) and the
Annual Return for Financial Year 2022-23 will be made available on the website of the
Company once it is led with the MCA.
B. Management Discussion & Analysis and Report on Corporate
Governance
The Management Discussion and Analysis and the Report on Corporate
Governance as required under SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, including amendments thereunder, forms part of this Annual report.
A Certificate from the Secretarial Auditor of the Company regarding
compliance with conditions of corporate governance as required under SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, including amendments
thereunder, also forms part of this Annual Report.
C. Managing Director and Chief Financial Officer Certification
Pursuant to Regulation 17(8) of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, including amendments thereunder, the Managing
Director and Chief Financial Officer certification as specified in Part B of Schedule II
thereof is annexed to the Corporate Governance Report. The Managing Director and the Chief
Financial Officer also provide quarterly certification on Financial Results while placing
the Financial Results before the Board in terms of Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015.
D. Compliance of Secretarial Standards
The Company has complied with all applicable mandatory Secretarial
Standards issued by the Institute of Company Secretaries of India, New Delhi.
E. Insider Trading Regulations
Based on the requirements under the SEBI (Prohibition of Insider
Trading) Regulations, 2015, as amended from time to time, the Code of Conduct for
prevention of insider trading is in force in your Company. The Company has adopted the
Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive
Information in compliance with Chapter IV of the said Regulations and the same is also
available on the Company's website www.duncanengg.com.
F. Conservation of Energy, Technology Absorption, Exports and Foreign
Exchange Earnings and Outgo
As required under Section 134(3)(m) of the Companies Act, 2013 read
with Rule 8 (3) of the Companies (Accounts) Rules 2014, the information relating to
conservation of energy, technology absorption and foreign exchange earnings and outgo is
annexed to this Report as Annexure C.
G. Particulars of Employees and Remuneration
Disclosures pertaining to remuneration and other details as required
under Section 197(12) of the Companies Act, 2013 read with Rule 5 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 including amendments
thereunder, are annexed in Annexure D of this report.
H. Investor Education & Protection Fund
Pursuant to the provisions of Sections 124 and 125 of the Companies
Act, 2013 and Rules thereunder, including amendments thereof, any money transferred to the
unpaid dividend account, which remains unpaid or unclaimed for 7 years from the date of
such transfer is required to be transferred to the 'Investor Education and Protection Fund
(IEPF)'.
Pursuant to the provisions of IEPF (Accounting, Audit, Transfer, and
Refund) Rules, 2016 and its amendments thereon, all shares in respect of which the
dividend has not been paid or claimed for 7 consecutive years or more, are required to be
transferred to IEPF.
The dividend till the year 2009-10 which remained unpaid or unclaimed
for 7 years has been transferred to the IEPF Authority (IEPF Account). All shares in
respect of which dividend has remained unpaid or unclaimed for 7 consecutive years are
also transferred to the IEPF Authority. The company has not declared dividends from the
financial year 2010-11 till financial year 2021-22.
Members may note that unclaimed dividend and shares transferred to the
IEPF Authority can be claimed back by them by following the procedure prescribed in the
Rules.
The Company had appointed Mr. Rajib Gope, Company Secretary as Nodal
Officer (resigned w.e.f. 22.07.2022). Thereafter, the Company appointed Mr. Kamal Saria,
Chief Financial Officer as Nodal Officer w.e.f. 07.10.2022 under the provisions of IEPF
Rules. Details of the Nodal Officer are available on the website of the Company i.e.,
www.duncanengg.com.
I. No pending proceeding under Insolvency and Bankruptcy Code, 2016
The Board confirms that there is no proceeding pending under the
Insolvency and Bankruptcy Code, 2016 and that there is no instance of onetime settlement
with any Bank or Financial Institution, during the year under review.
J. Related Party Transactions
All related party transactions that were entered into during the
Financial Year 2022-23 were on an arm's length basis and in the ordinary course of
business. Hence, there are no transactions to be reported in Form AOC-2. None of the
related party transactions entered into by the Company, were materially significant,
warranting members' approval under SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015
including amendments thereunder.
The Audit Committee had granted the omnibus approval for the proposed
transactions with Related Party during financial year 2022-23, which are reviewed on
quarterly basis by the Audit Committee and the Board of Directors.
During the year, the policy on Related Party Transactions was amended
to align with the provisions of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time.
The amended policy on Related Party Transactions is uploaded on the Company's
website. The disclosures as per IND-AS 24 for transactions with related parties are
provided in the Financial Statements of the Company.
K. Accounting Treatment
The Accounts for the year have been prepared as per Indian Accounting
Standards (Ind AS) and all the current year and previous year gures have been re-stated
accordingly. No treatment different from that prescribed in Accounting Standards (Ind AS)
has been followed by the Company.
L. Credit Rating
List of all credit ratings obtained by the Company during the financial
year for all debt instruments or any fixed deposit programme or any scheme or proposal
involving mobilization of funds, whether in India or abroad is not applicable to the
Company.
During the year under review, the Company received credit ratings from
ICRA Limited. The Rating Committee of ICRA
Limited, after due consideration, assigned a long-term rating of
[ICRA]A- (pronounced ICRA A minus) and short-term rating of [ICRA]A2+ (Pronounced ICRA A
two plus).
M. Research and Development
Research & Development is fundamental to the Company's efforts
to maintain the technical and quality edge for the products. New Product Development is
one of priorities of the Company. The company will concentrate on allocating its resources
to develop an experienced team of professionals, and work on a roadmap to introduce market
specific new products. Customization remains as one of core strengths of the Company, so
it will continue to customize its products to cater the needs of customers.
N. Material Changes
There have been no material changes and commitments, affecting the
financial position of the Company which have occurred between the end of the Financial
Year of the Company to which the Financial Statements relate and the date of this Report.
O. Disclosure of Orders passed by Regulators or Courts or Tribunal
During the year under review, your Company has not received any order
from Regulators, Courts or Tribunals, which may impact the going concern status or the
operations of the Company in future.
P. Disclosure relating to equity shares with differential rights
The Company has not issued any equity shares with differential rights
during the year under review and hence no information as per provisions of Rule 4(4) of
the Companies (Share Capital and Debenture) Rules, 2014 is furnished.
Q. Environment
As part of our endeavor to protect environment, the Company is making
efforts to increase the green cover through sapling plantation on one hand and enhancing
the environmental awareness levels amongst employees on the other hand. The Company
planted saplings of indigenous varieties in barren land within the factory premises and
ensured their survival.
R. Pollution Control
Your Company's Plant has the requisite consent to operate from
Maharashtra Pollution Control Board and meets all the applicable statutory norms.
S. Statutory Compliance, Strictures and Penalties
The Company has complied with rules and regulations prescribed by the
Bombay Stock Exchange, Securities Exchange Board of India and any other statutory
authority relating to capital market.
14. Acknowledgements
The Directors thank the employees, customers, suppliers, bankers,
business partners, other regulatory agencies and wish to acknowledge and place on record
their sincere appreciation for the excellent support given by them to the Company and
their con dence in its Management. Your Directors would also like to thank the members of
the Company for reposing their con dence and faith in the Company and its Management.
|
On behalf of the Board of
Directors of Duncan Engineering Limited |
|
Akshat Goenka |
Arvind Goenka |
Place: Noida |
Managing Director |
Non Executive Director |
Date: 16.05.2023 |
DIN: 07131982 |
DIN: 00135653 |
|