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• Annual Report 2018-19
Shaping the future of software driven business
Accordingly, your Directors at its meeting held on June 11, 2019, considered recommendation of the Audit Committee favourably
and have further recommended to the Members for an appointment of M/s. Deloitte Haskins & Sells LLP as the Statutory
Auditors of your Company for a period of 2 (two) years i.e. from the ensuing 29
th
AGM up to the conclusion of the AGM to be
held on or before September 30, 2021.
Further, in terms of the Regulation 33(1)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
(the ‘Listing Regulations’), the Statutory Auditors of your Company are subjected to the Peer Review Process of the Institute of
Chartered Accountants of India (ICAI). M/s. Deloitte Haskins & Sells LLP has confirmed that they hold a valid certificate issued
by ‘Peer Review Board’ of ICAI. They have also conveyed their eligibility and willingness to act as the Statutory Auditors of the
Company.
Secretarial Audit Report
Pursuant to Section 204 of the Act, the Board of Directors had appointed M/s. SKO & Associates, Practicing Company Secretaries
as the Secretarial Auditors of your Company for the financial year 2018-19.
Accordingly, the Secretarial Auditors have given their report, which is annexed hereto as Annexure A. The comments of the
Board on the observations of the Secretarial Auditors are as follows:
Sr.
No.
Observations by the Secretarial Auditors
Comments by the Board
1.
There was a delay of one day in intimating to the Stock
Exchanges about loss of share certificate.
The Company received the e-mail intimation after business
hours. Post receipt, the Company verified the details
with the Registrar and Transfer Agent before intimating
the same to the Stock Exchanges. In this process, the
evaluation delayed by 1 (one) day, and the Company could
not meet the compliance within prescribed time. The
Company has taken sufficient precautions not to repeat
such instances in future.
2.
Pursuant to Regulation 47(2) of the SEBI (Listing
Obligations and Disclosure Requirements), Regulations,
2015, the Company has not provided link of the website
where further details are available in certain newspaper
advertisements.
Though, the Company mentioned the website address
along with its name and address details in all its newspaper
advertisements, a specific mention of the Company’s
website address was missing in one of the public
advertisements for declaring quarterly results.
The Company took cognizance of the same and
started providing the link separately in its newspaper
advertisements at prescribed place in the quarterly
advertisements.
3.
The Company filed form for appointment of Whole
Time Director with the Registrar of Companies, beyond
prescribed time. The said form has been approved by
Registrar of Companies.
The delay was due to inadvertence. The Company has
taken sufficient precautions not to repeat such instances
in future.
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