As on: May 31, 2025 10:45 AM
To
The Members,
RAJGOR CASTOR DERIVATIVES LIMITED
(Previously Known as Rajgor Castor Derivatives Private Limited)
The Board of Directors hereby submits the 4th Annual Report of business and operation of the Company RAJGOR CASTOR DERIVATIVES LIMITED, along with audited financial statement for year ended March 31, 2022.
RESULT OF OUR OPERATION:
OPERATIONS OVERVIEW:
For the year ended 31st March, 2022, your Company has reported total revenue and net profit after taxation of Rs. 40,91,30,412/- and Rs. 52,18,963/-respectively as compared to last year's total revenue and net profit Rs. 11,00,69,272/- and Rs. (1,80,18,310)/- respectively.
DIVIDEND:
In order to conserve the resources, the Board of Director of the company do not recommend payment of dividend for the year ended 31st March, 2022.
CHANGE IN THE NATURE OFBUSINESS:
There are no changes in the nature of business during the year.
TRANSFER TO RESERVES:
The Company has not transferred any amount to the General Reserve during the financial year ended March 31, 2022.
SHARE CAPITAL:
The Authorized Capital of the Company is Rs. 15, 00,000/- (Rupees Fifteen Lakh) having face value of Rs. 10 Each for the year ended on 31st March, 2022.
Company has increased its Authorised capital from Rs. 15,00,000/- (Rupees Fifteen Lakh) to Rs. 10,00,00,000/- (Rupees Ten Crore) having face value of Rs. 10 Each in the Extra ordinary General Meeting (EoGM) held on 21st June, 2022.
HOLDING / SUBSIDIARY COMPANIES:
As on 31st March, 2022 the Company does not have any subsidiaries and joint ventures.
Company has following Associates Companies as on 31.0.2022.
• Rajgor Proteins Limited
• Rajgor Industries Private Limited
• Brijesh Trading Co.
CHANGES IN MEMORANDUM AND ARTICLES OF ASSOCIATION:
During the year company has do the following amendment in Memorandum of Association (MOA) and Articles of Association (AOA).
> Company has Changed the Name Clause three times during the year.
Approval of shareholder given in Extra Ordinary General Meeting for change of name from HINDPRAKASH CASTOR DERIVATIVES PRIVATE LIMITED to ARDENT CASTOR DERIVATIVES PRIVATE LIMITED held on January 20, 2022
Approval of shareholder given in Extra Ordinary General Meeting for change of name from ARDENT CASTOR DERIVATIVES PRIVATE LIMITED to RAJGOR CASTOR DERIVATIVES PRIVATE LIMITED held on February 02, 2022
Approval of shareholder given in Extra Ordinary General Meeting with respect to conversion of private company to public company by change of name from RAJGOR CASTOR DERIVATIVES PRIVATE LIMITED to RAJGOR CASTOR DERIVATIVES LIMITED held on June 21, 2022.
> Company has amend the Clause V of the Capital clause vide special resolution passed by the members of the Company in their Extra ordinary General Meeting (EoGM) held on 21st June, 2022 from 15, 00,000/- (Rupees Fifteen Lakh) having face value of Rs. 10 to Rs. 10,00,00,000/- (Rupees Ten Crore) having face value of Rs. 10 Each
BOARD MEETINGS:
During the year under review, the Board of Directors duly met 13 (Thirteen) times. The Board meeting dates were 20.04.2021, 25.06.2021, 24.09.2021, 22.11.2021, 31.12.2021, 04.01.2022, 18.01.2022, 21.01.2022, 25.01.2022, 31.01.2022, 01.03.2022, 15.03.2022 and 29.03.2022.
DIRECTOR'S RESPONSIBILITY STATEMENT:
Pursuant to the requirement under Section 134(5) of the Companies Act, 2013, it is hereby confirmed that:
i) That in the preparation of the annual accounts for the financial year ended 31st March 2022, as per the applicable accounting standards have been followed and that there were no material departures;
ii) That the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of the affairs of the company at the end of the financial year and of the profit of the company for the year under review;
iii) That the Directors had taken proper and sufficient care 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 a fraud and other irregularity.
iv) That the Directors have prepared the annual accounts for the year ended 31st March 2022 on a "going concern basis."
v) That the Directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively;
vi) That the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that systems were adequate and operating effectively.
DEPOSITS:
During the year under review the Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.
DIRECTORS AND KEY MANAGERIAL PERSONNEL:
During the year, the company has appointed Mr. Vasantkumar Shankarlal Rajgor as an additional director as on 31st December, 2021. Along with that resignation has been accepted as received from Chanakya Prakash Mangal, Chandragupt Prakash Mangal, Madhusudan Ghanshyamji Garg and Anilkumar Shyamlal Agrawal as on 18th January, 2022.
Mr. Maheshkumar Shankarlal Rajagor is being appointed as an additional director as on 20th June, 2022.
Mr. Brijeshkumar vasantlal Rajgor, whole time director of the company is being re-designated as Managing Director of the company with effect from 8th August, 2022 subject to the approval of shareholders in the ensuing general meeting.
COMMITTEES OF THE BOARD:
The company is not require to constitute any committee during the year according to the companies Act, 2013. CHANGES IN REGISTERED OFFICE ADDRESS:
Company has shifted its Registered Office from 301, Mangalam Corporate House, 42, Shrimali Society, Netaji Marg, Mithakhali, Navrangpura Ahmedabad 380009 to 807, Titanium One, Nr. Pakwan Cross Road, Nr. Shabri Water Works, S.G. Highway, Bodakdev, Ahmedabad-380054 with effect from 1st March, 2022.
CORPORATE SOCIAL RESPONSIBILITY:
Corporate Social Responsibility as per Section 135 of the Companies Act, 2013 is not applicable to the Company during the Financial Year 2021-22.
RELATED PARTY DISCLOSURES:
During the year transaction with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 annexed herewith as "Annexure II".
INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:
Your Company has implemented adequate procedures and internal controls which provide reasonable assurance regarding reliability of financial reporting and preparation of financial statements. The Company also ensures that internal controls are operating effectively.
RISK MANAGEMENT POLICY:
The Company has in place to ensure sustainable business growth with stability and to promote a pro-active approach in reporting, evaluating and resolving risks associated with the business. Major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuing basis. These are discussed at the meetings of the Board of Directors of the Company. The Company's internal control systems are commensurate with the nature of its business and the size and complexity.
POLICY FOR PRESERVATION OF DOCUMENTS AND ARCHIVAL OF DOCUMENTS:
Your Company has adopt the policy for the preservation of Documents and Archival of Documents to ensure that all the necessary documents and records of the Company are adequately protected and preserved as per the Statutory requirements.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL), ACT 2013:
The Company has always believed in providing a safe and harassment free workplace for every individual working in its premises through various interventions and practices. The Company always endeavors to create and provide an environment that is free from discrimination and harassment including sexual harassment. The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal), Act 2013. Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy.
LOANS, GUARANTEES OR INVESTMENTS IN SECURITIES:
During the year ended 31st March, 2022, company has given Loans, Guarantees and/or made any Investments covered within the limits as specified under the provisions of Section 186 of the Companies Act, 2013.
MATERIAL CHANGES AND COMMITMENTS:
There have been no Material 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 Statement Related and the date of the report.
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS:
No such Orders have been passed by the Regulators/Court or Tribunals which can impact the going concern status and Company's operation in future.
PARTICULARS OF EMPLOYEES:
No Employee of the Company draws remuneration in excess of limit prescribed under Section 197 read with Rule, 5 of The Companies Appointment and Remuneration of Managerial Personnel) Rules, 2014.
EXTRACT OF ANNUAL RETURN:
The details forming part of the extract of the Annual Return in form MGT-9 is annexed herewith as
"Annexure I".
CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGNEXCHANGE EARNINGS AND OUTGO:
a) Conservation of energy:
i) Strict control system to monitor day to day power consumption, to endeavor to ensure the optimal use of energy with minimum extent possible wastage as far as possible. The day to day consumption is monitored and various ways and means are adopted to reduce the power consumption in an effort to save energy.
ii) The steps taken by the Company for utilizing alternate sources of energy: The Company has not taken any step for utilizing alternate sources of energy.
iii) The capital investment on energy conservation equipment: During the year under review, Company has not incurred any capital investment on energy conservation equipment.
i) Technology absorption:
There is no specific area in which company has carried out any Research & Development.
j) Foreign exchange earnings and Outgo
a. Foreign Exchange Earnings : Nil
b. Foreign Exchange Outgo : Nil
Statutory Auditors
Pursuant to provisions of Section 139 of the Companies Act read with the Companies (Audit & Auditors) Rules, 2014, M/s R.B. TANNA & CO., Chartered Accountants having registration number: 110805W., appointed as Statutory Auditors of the Company for a term of five consecutive years to hold office from the conclusion of this Annual general meeting to the conclusion of the annual general meeting of the company to be held for the financial year ended on 31st march, 2027. The Statutory Auditors have confirmed that they are not disqualified from continuing as Auditors of the Company.
CHANGE IN THE NATURE OF BUSINESS:
During the financial year 2021-22, the company has not made any changes in the nature of its business.
GENERAL DISCLOSURE:
Your Directors state that the Company has made disclosures in this report for the items prescribed in section 134(3) of the Act read with Rule 8(3) of The Companies (Accounts) Rules, 2014 to the extent the transactions took place on those items during the year. There are no material changes and commitments affecting the financial position of the Company between the end of the financial year and the date of this report.
Corporate Social Responsibility as per Section 135 of the Companies Act, 2013 is not applicable to the Company during the Financial Year 2020-21.
MAINTENANCE OF COST RECORDS:
The Company has maintained the all cost records prescribed under section 148 of the Companies Act, 2013 and rules made thereunder.
ACKNOWLEDGEMENT:
Your Directors place on record their sincere appreciation of the co-operation and assistance extended by the bankers of the Company. They also place on record their appreciation of the devoted services rendered by the Executives, Staff Members and Workers of the Company.
The Director concludes this Report by placing on record their gratitude to all shareholders, bankers and Govt. authorities for their continued support.