Minutes of Meeting For Approving Financial Statements

minutes of meeting to approve accounts

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Minutes of the Meeting of the Board of Directors of M/s SANATAN FABRICS PRIVATE LIMITED held at its Registered Office at 6/2, Havelock Road New Delhi – 110021 on Friday, the 9th May, 20017 at 3.30 p.m.

P R E S E N T

1.      Shri. P.C. Kavediya

2.      Shri. I.K. Sengupta

CHAIRMAN:

By common consent Shri I.K. Sengupta took the chair.

MINUTES:

Minutes of the last meeting of the Board of Directors were read and confirmed.

GENERAL NOTICE:

General notice u/s 299 (3) of the Companies Act 1956 received from the Directors of the Company were placed on the table and read out by Chairman. It was directed that the same be recorded in the Register maintained pursuant to Section 301/303 of the Companies Act, 1956.

DRAFT ACCOUNTS OF THE COMPANY: 

The Chairman placed on the table the draft Balance Sheet as at 31^st March 2023 and the Profit and Loss Account for the financial period from 5^th February to 31^st March, 2023. It was noted that: -

I.                    The Company has suffered a net Loss of Rs. 7261/-, which your Directors propose to carry forward to next year.

II.                 Preliminary Expenses written off during the year amounts to Rs. 5010/-

III.               Audit fee payable for the year amounts to Rs.1900/-.

After due discussions the Board approved the Accounts. In this connection the following resolution were passed:

                 

“RESOLVED that the draft Balance Sheet of the Company as at 31^st March, 2023 and the Profit & Loss Account of the Company for the financial period from 5^th February to 31^st March, 2023 be and are hereby approved and that the same be signed by Directors of the Company in accordance with the provisions of the Companies Act 1956.”

”FURTHER RESOLVED that the Account of the Company duly signed by Directors be sent to the Auditors of the Company for their report thereon.”

“FURTHER RESOLVED that Shri I.K. Sengupta, Director of the Company be and is hereby authorised to furnish any particulars or information relating to the accounts as may be required by the Auditors of the Company.”

ADJOURNMENT OF THE MEETING :

After signing of the Balance Sheet & Profit & Loss Account by the Directors of the Company, the Chairman adjourned the meeting for signing of the Annual Accounts by the Auditors and obtaining their Report thereon, and informed that the meeting shall resume at 3.45 p.m. The Directors reassembled at 3.45 p.m. and the meeting resumed.

AUDITED ACCOUNTS OF THE COMPANY:

The Chairman placed on the table the Audited Balance Sheet as at 31st March, 2023 and the Audited Profit  & Loss Account of the Company for the financial year ended on 31st March, 2023 together with the Auditors Report thereon.

DIRECTORS' REPORT:

The Chairman placed on the table a draft Directors Report relating to the accounts of the Company for the year ended 31st March, 2016. After due discussions the Board approved the Report and passed the following resolution:

"RESOLVED that the Directors Report in respect of the accounts of the Company for the year ended 31st March, 2023 be and is hereby approved and that   the same be signed by the Directors present."

CALLING OF FIRST ANNUAL GENERAL MEETING OF THE COMPANY: 

The Chairman requested the Board to fix the date of the First Annual General Meeting of the Shareholders of the Company. After due discussions the Board decided to hold the First Annual General Meeting of the Shareholders of the Company on Wednesday, the 30th May, 2023 at 3.30 p.m. at the Registered Office of the Company   at 6/2, Havelock Road New Delhi – 110021. In this connection the following resolution was passed::

"RESOLVED that the First Annual General Meeting of the Shareholders of the Company be convened to be held at the Registered Office of the Company at 5, Russell Street, Kolkata – 700 071 on Wednesday, the 30th May, 2023 at 3.30 p.m.”   

A draft of the notice convening the above Annual General Meeting was placed on the table and approved by the Board. Shri P.C. Kavediya, Director of the Company was authorised to issue the notice on behalf of the Company.

AUTHORISATION FOR FILING OF BALANCE SHEET & ANNUAL RETURN

The Chairman further stated that as per the current norms of e-filing of balance sheet and annual return authorization needs to be given to any one of the directors of the company for online submission of the necessary electronic forms viz. Form No. 20B, 23 AC and 23ACA. After a brief discussion the following resolutions were passed::

“RESOLVED THAT any one of the directors of the company be and is hereby authorized to file online with the Registrar of Companies, requisite electronic return forms viz . Form 23AC, 20ACA and Form 20B duly filed up and digitally signed by them as required along with the respective attachments to the Forms viz. Balance Sheet and Annual Return, as applicable of the company.“

GENERAL:

The Board discussed the financial position and general affairs of the Company.

VOTE OF THANKS: 

There being no other business to be transacted the meeting terminated with a vote of thanks to the Chair.

                                      

CHAIRMAN