Jolly Plastic Industries Ltd. - Annual Report 2021

ANNUAL REPORT 2020-21 JOLLY PLASTIC INDUSTRIES LIMITED

JOLLY PLASTIC INDUSTRIES LIMITED

CIN: L70100GJ1981PLC004932 Website: www.jollyplasticindustriesltd.in Email id: [email protected]

Regd Off: 311, Third Floor, Pooja Complex, Harihar Chowk, Sadar Bazaar, Rajkot, Gujarat - 360001

Corporate Office: S-524, F/F, School Block Vikas Marg, Shakarpur Delhi-110092

BOARD OF DIRECTORS

Mr. Atul kumar Agarwal
Mr. Braj Mohan Singh
Mrs. Payal Agarwal
Mr. Rajesh Kumar Vaid
Mr. Adesh Kumar Agarwal

AUDITOR

M/s Moon & Company (Chartered Accountants)

JOLLY PLASTIC INDUSTRIES LIMITED CORPORATE INFORMATION

BOARD OF DIRECTORS

AUDIT COMMITTEE

Mr. Braj Mohan Singh: MD/CFO Mr. Atul Kumar Agarwal: Director Mrs. Payal Agarwal: Director Mr. Rajesh Kumar Vaid: Director Mr. Adesh Kumar Agarwal: Director

Mr. Adesh Kumar Agarwal Chairman Mr. Rajesh Kumar Vaid Member Mrs. Payal Agarwal Member

NOMINATION AND REMUNERATION COMMITTEE

Mr. Rajesh Kumar Vaid Chairman Mr. Adesh Kumar Agarwal Member Mrs. Payal Agarwal Member

SHAREHOLDER COMMITTEE

Mr. Adesh Kumar Agarwal Chairman Mr. Atul Kumar Agarwal Member Mrs. Payal Agarwal Member

SECRETARIAL AUDITORS

STATUTORY AUDITOR

M/s Richa Dhamija and Company (Company Secretaries) C.O. No. 12099

M/s Moon and Company (Chartered Accountants) FRN No: 024693N

INTERNAL AUDITOR

REGISTRAR AND TRANSFER AGENT

M/s ANVC & Co. (Chartered Accountants) FRN No: 028429N

Skyline Financial Service Pvt. Ltd. D-153A, 1st Floor, Okhla Industrial Area, Phase-I, New Delhi-110020 Email: [email protected] Ph No. 011-26812682

REGISTERED OFFICE

311, Third Floor, Pooja Complex, Harihar Chowk, Sadar Bazaar Rajkot Gujarat 360001 CIN: L70100GJ1981PLC004932 WEBSITE : www.jollyplasticindustriesltd.in EMAIL ID : [email protected]

STOCK EXCHANGE

BSE LIMITED

CORPORATE OFFCE

S-524, F/F, School Block Vikas Marg, Shakarpur, Delhi-110092 PHONE: 011-43206720

I N D E X

S.NO	PARTICULARS
1.	DIRECTORS’ REPORT
2.	SECRETARIAL AUDITOR’S REPORT
3.	MANAGEMENT DISCUSSION & ANALYSIS REPORT
4.	INDEPENDENT AUDITOR’S REPORT
5.	FINANCIAL STATEMENTS
6.	NOTES TO ACCOUNTS
7.	ANNUAL GENERAL MEETING NOTICE

B O A R D R E P O R T

To, The Members Jolly Plastic Industries Limited

Your Directors have pleasure in presenting the 40[th ] Annual Report of the Company together with the Audited Accounts for the financial year ended March 31, 2021.

FINANCIAL SUMMARY OR HIGHLIGHTS (Amount in `

FINANCIAL SUMMARY OR HIGHLIGHTS		A i`
		(mount n)

PARTICULARS	F.Y. 2020-21	F.Y. 2019-20

Sales/ Income from operations	312216672	178207127

Total Expenses	(312204115)	(178583812)
Profit/ (loss) before exceptional item and tax	12557	(376685)

Less: Exceptional Items	0	473426

Profit/ (loss) before tax for the year	12557	96741
Less: Income tax and deferred tax expenses	(3265)	(25153)

Profit after tax for the year	9292	71588
Other Comprehensive Income/ Loss	0	0
Net Profit/ Loss for the Year	9292	71588


CHANGE IN NATURE OF BUSINESS During the year there was no change in nature of business of the company. COMPANY’S PERFORMANCE Company has been indulged in the enhancement of shareholder value through sound business decisions, prudent to financial management and high standard of ethics throughout the organization. RESERVE The Board of the company has transferred`9292.00/- to reserves for future growth and expansion of the company. DIVIDEND The Board has not recommended any dividend for the year 2020-21 and therefore there is no liability arises for the payment of Dividend Distribution Tax (DDT).

MATERIAL CHANGES AND COMMITMENT THAT AFFECT THE COMPANY’S FINANCIAL POSITION

There was no material change during the year 2020-21 that affect the financial position of company and therefore no requirement was raised to disclose remedial measures.

GENERAL INFORMATION OF COMPANY

Management has overviewed of the industry in respect of our company and observed that there was no important change in industry during the last year 2020-21 which had impacts on company’s performance.

DIRECTORS

Composition of Board of Directors:-

S.NO.	NAME	DESIGNATION
1.	Mr. Atul Kumar Agarwal	Non Executive Director
2.	Mr. BrajMohan Singh	ManagingDirector cum Chief Financial Officer
3.	Mrs. Payal Agarwal	Non Executive Director
4.	Mr. Rajesh Kumar Vaid	Non Executive Independent Director
5.	Mr. Adesh Kumar Agarwal	Non Executive Independent Director

DETAILS OF DIRECTORS /KMP WHO HAVE APPOINTED OR RESIGNED DURING THE YEAR:

S.NO.	NAME	EVENT
1.	Mr. Shyam Mohan Mittal	Resigned from the post of Managing Director due to health issue on 31.12.2020

ROTATION OF DIRECTOR

Mr. Atul kumar Agarwal (DIN- 00022779) is liable to retire by rotation at the ensuing Annual General Meeting and being eligible offer himself for reappointment.

SUBSIDIARY COMPANIES, JOINT VENTURES & ASSOCIATE COMPANIES

As on 31[st] March 2021, the Company has no Subsidiary, Joint- Venture or Associate Company.

CONSOLIDATED FINANCIAL STATEMENT

As company has no Subsidiary, Joint- Venture or Associate Company, the provision for preparation of consolidated Financial Results is not applicable to company.

DEPOSITS

During the year under review the Company has not accepted any deposit falling within the meaning of section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014.

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY’S OPERATIONS IN FUTURE

During the year there was no significant and material order passed by any regulators or court or tribunal which would impact the going concern status and company’s operations in future.

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

The details in respect of internal financial control and their adequacy are included in the Management Discussion and Analysis, which is a part of this report.

CAPITAL AND DEBT STRECTURE

The Authorized Capital of the company is ` 120000000.00/- and paid up Equity Share Capital as on 31[st ] March, 2021 was 66764000.00/- each @ 1/- per share. There was no change in the capital structure of company and company has not issued any new share or convertible securities during the year 2020-21. The Company not issued shares with differential voting rights nor granted stock options nor sweat equity. Instead of above that the company was not issued any debentures, bonds, warrants or any non convertible securities during the year 2020-21.

The company has not held any shares in trust for the benefit of employees where the voting rights are not exercised directly by the employees.

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. The internal Audit functions reports to the Chairman of the Audit Committee and to Chairman and Managing Director of the Company.

The Internal Audit monitors and evaluates the efficiency and adequacy of internal control systems in the company. It’s compliances with operating systems, accounting procedure and policies at all locations of the Company.

M/s ANVC & Co. Chartered Accountants, (FRN No: 028429N) acts as an Internal Auditor of the Company.

Business Risk Assessment procedures have been set in place for self-assessment of business risks, operating controls and compliance with Corporate Policies. There is an ongoing process to track the evolution of risks and delivery of mitigating action plans.

MEETING OF BOARD OF DIRECTORS

A calendar of Meetings is prepared and circulated in advance to the Directors. During the year six (6) Board Meetings held. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

During the year Financial Year from 1[st] April, 2020 to 31[st] March, 2021, the board of directors met six (6) times 10.07.2020, 03.09.2020, 14.09.2020, 10.11.2020, 31.12.2020, and 11.02.2021.

INDEPENDENT DIRECTORS

S. No.	NAME	DESIGNATION
1.	Mr. Mr. Rajesh Kumar Vaid	Non Executive(Independent Director)
2.	Mr. Adesh Kumar Agarwal	Non Executive(Independent Director)

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134 (5) of the Companies Act, 2013, your Directors report as under:

a) That in the preparation of the annual accounts, the applicable accounting standards have been followed.
b) That the Directors 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 affairs of the company at the end of the financial year and of the profit or loss of the company for that period.
c) That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.
d) That the Directors have prepared the annual accounts on a going concern basis.
e) That the Directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating effectively.
f) That the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

DECLARATION BY INDEPENDENT DIRECTOR

There are two (2) Independent Directors i.e. Mr. Rajesh Kumar Vaid and Mr. Adesh Kumar Agarwal. The company has received necessary declaration from both Directors under section 149 of the companies Act, 2013 and that the Independent Directors have complied with the Code for Independent Directors prescribed in Schedule IV to the Companies Act, 2013.

POLICY ON DIRECTOR’S APPOINTMENT AND REMUNERATION

The current policy is to have an appropriate mix of executive, non-executive and independent Director to maintain the independence of the Board, and separate its functions of governance and management. As of March, 31 2021, the Board had Five (5) Directors.

The Policy of the company on director’s appointment and remuneration, including the criteria for determining qualifications, positive attributes, independence of a director and other matters, as required under sub-section (3) of section 178 of Companies Act, 2013 is in place and maintained by company as per law.

EXPLANATIONS OR COMMENTS BY THE BOARD ON QUALIFICATION, RESERVATION AND ADVERSE REMARK

There was no qualification, reservation and adverse remark given by Statutory Auditor, Secretarial Auditor, or Cost Auditor in their audit reports.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENT

The Company has not given any loan or guarantees or securities and no investment made during the year 2020-21 covered under the provisions of section 186 of the Companies Act, 2013.

COMMITTEE OF BOARD

The Company’s Board has the following mandatory committees:

1) Audit Committee

2) Nomination and Remuneration Committee
3) Stakeholders Relationship Committee

AUDIT COMMITTEE

The Audit committee has three (3) directors as members in the committee from which two third (2/3) of the members were independent directors and all the members of audit committee were financially literate members of audit committee have accounting or related financial management expertise.

The Audit Committee of the Company duly constituted by the following members:i) Mr. Rajesh Kumar Vaid ii) Mrs. Payal Agarwal iii) Mr. Adesh Kumar Agarwal iv) Mr. Shyam Mohan Mittal*

Mr. Shyam Mohan Mittal resigned on 31.12.2020 and Mr. Rajesh Kumar Vaid appointed on 15.06.2021.

During the year F.Y. 1[st] April, 2020 to 31[st] March, 2021, the Audit Committee met four (4) which are held on 10.07.2020, 14.09.2020, 10.11.2020 and 11.02.2021,

The Minutes of the Meetings of the Audit Committee are discussed and taken note by the board of directors.

The Statutory Auditor, Internal Auditor and Executive Directors/ Chief Financial Officer are invited to the meeting as and when required.

The Composition of the Audit Committee and their Attendance at the Meeting:

Name Of Members	Category / Designation	No. of Meetings	No. of Meetings	Attendance Percentage (%)
		Held	Attended
Mr. Adesh Kumar Agarwal	Chairperson	4	4	100
Mr. Shyam Mohan Mittal	Member	4	3	75
Mrs. Payal Agarwal	Member	4	4	100

No sitting fees have been paid to any director during the year. The remuneration paid to all Key management Personnel was in accordance with remuneration policy adopted by the company. All members have attended the meeting in person.

NOMINATION AND REMUNERATION COMMITTEE

The Nomination and Remuneration Committee of the Company duly constituted by the following members:-

i) Mr. Rajesh Kumar Vaid ii) Mrs. Payal Agarwal iii) Mr. Shyam Mohan Mittal iv) Mr. Adesh Kumar Agarwal

Mr. Shyam Mohan Mittal has resigned on 31.12.2020

Mr. Rajesh Kumar Vaid becomes the chairman of the committee w.e.f. 15.06.2021.

The Committee met 4 (Four) times on 10.07.2020, 14.09.2020, 10.11.2020 and 11.02.2021 during the financial year ended March 31, 2021.

The Composition of the Nomination and Remuneration Committee and Their Attendance at the Meeting:

		No. of Meetings	No. of Meetings	Attendance Percentage (%)
Name Of Members	Category / Designation	Held	Attended
Mr. Adesh Kumar Agarwal	Chairperson	4	4	100
Mr. Shyam Mohan Mittal	Member	4	3	75
Mrs. Payal Agarwal	Member	4	4	100

STAKEHOLDERS RELATIONSHIP COMMITTEE

The Stakeholders Relationship Committee of the Company duly constituted by the following members:-

i) Mrs. Payal Agarwal ii) Mr. Atul Kumar Agarwal iii) Mr. Adesh Kumar Agarwal

The Committee met 4 (Four) times on 10.07.2020, 14.09.2020, 10.11.2020 and 11.02.2021 during the financial year ended March 31, 2021.

The Composition of the Stakeholder Relationship Committee and Their Attendance at the Meeting:

Name Of Members	Category / Designation	No. of Meetings	No. of Meetings	Attendance Percentage (%)
		Held	Attended
Mr. Adesh Kumar Agarwal	Chairperson	4	4	100
Mr. Atul Kumar Agarwal	Member	4	4	100
Mrs. Payal Agarwal	Member	4	4	100

BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out an annual evaluation of its own performance, its Committees, as well as the Directors individually.

The outcome of the Board evaluation was discussed by the Nomination & Remuneration Committee and at the Board Meeting held on 11[th] February, 2021 and improvement areas were discussed.

INDEPENDENT DIRECTOR MEETING

During F.Y. 2021, one (1) meeting of the Independent Directors was held on 10[th] November, 2020. The Independent Directors, inter-alia, reviewed the performance of Non-Independent Directors, Board as a whole and Chairman of the Company, taking into account the views of executive directors and non-executive directors.

REPORTING OF FRAUDS

There have been no instances of fraud reported by the Statutory Auditors under Section 143 of the Act read with relevant Rules framed there under either to the Company or to the Central Government.

RELATED PARTY TRANSACTIONS

There are no materially significant related party transactions made by the Company with the Promoters, Key Management Personnel or other designated persons which may have potential conflict with interest of the Company at large. The AOC-2 as per the Companies Act, 2013 has been attached herewith under “ Annexure A ”.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

The company needs not to comply with the provisions of Section 135 of Companies act, 2013, as the company does not fall in eligibility criteria of Corporate Social Responsibility initiatives.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The information required to be furnished under section 134 (3)(m) of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 relating to Conservation of Energy, Technology absorption and Foreign Exchange earnings and outgo is annexed in “ Annexure B” herewith and forming part of this report.

BUSINESS RISK MANAGEMENT

The main objective of this policy is to ensure sustainable business growth with stability and to promote a pro-active approach in reporting, evaluating and resolving risks associated with the business. In order to achieve the key objective, the policy establishes a structured and disciplined approach to Risk Management, in order to guide decisions on risk related issues.

In today’s challenging and competitive environment, strategies for mitigating inherent risks in accomplishing the growth plans of the Company are imperative. The common risks inter alia are: Regulations, competition, Business risk, Technology obsolescence, Investments, retention of talent and expansion of facilities.

Business risk, inter-alia, further includes financial risk, political risk, fidelity risk, legal risk. As a matter of policy, these risks are assessed and steps as appropriate are taken to mitigate the same.

INDUSTRIAL RELATIONS

During the year under review, your Company enjoyed cordial relationship with workers and employees at all level.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

In order to ensure that the activities of the Company and its employees are conducted in a fair and transparent manner by adoption of highest standards of professionalism, honesty, integrity and ethical behavior the company has adopted a vigil mechanism policy.

PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate in securities by the Directors and designated employees of the Company. The Code requires pre-clearance for dealing in the Company’s shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company and during the period when the Trading Window is closed. The Board is responsible for implementation of the Code.

All Board Directors and the designated employees have confirmed compliance with the code.

EXTRACT OF ANNUAL RETURN AS ON THE FINANCIAL YEAR ENDED ON 31[ST] March, 2021

As required pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014, an extract of annual return in MGT 9 is place on Company’s website Link:- http://jollyplasticindustriesltd.in/.

SECRETARIAL AUDIT REPORTS

Pursuant to provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the Company has appointed M/S Richa Dhamija And Company, (Practicing Company Secretary Firm) to undertake the Secretarial Audit of the Company.

The Secretarial Audit Report is annexed herewith as “ Annexure C” in the Form MR-3.

AUDITORS REPORTS

M/S MOON AND COMPANY, CHARTERED ACCOUNTANT (FRN 0024693N ), who have been the Statutory Auditor of the Company for the F.Y. 2016-2021 for the term of Five (5) Years, their term has been expired.

M/S MOON AND COMPANY hereby again appointed for the term five (5) year for the F.Y. 20212026 as Statutory Auditor of the Company.

As per the MCA Notification Dated 7[th] May, 2018 read with The Companies (Amendment) Act, 2017 also read with section 139 of Companies Act, 2013, there is no need to ratify the term of auditor in every ensuing Annual General Meeting till the continuation of his term. Hence, no

resolution required to be inserted for ratification of Statutory Auditor. The Independent Auditor Report is annexed herewith.

EXPLANATIONS BY BOARD ON QUALIFICATIONS BY STATUTORY AUDITOR, SECRETARIAL AUDITOR

There are no qualifications in Secretarial Auditor’s and Statutory Auditor’s in their reports that company board has to provide explanation.

COMPLIANCE WITH SECRETARIAL STANDARD

All the applicable Secretarial Standard was complied by company during the year 2020-21. Applicable Secretarial Standard-1 and Secretarial Standard-2 took in consideration while meeting of Board of Directors and General meetings are conducted during the year. Secretarial Standard-4 was considered for preparation of Board Report of company during the year 202021.

DISCLOSURES IN RELATION TO THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The company has complied with the provision relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013 and also SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as follows:

a. number of complaints filed during the financial year : Nil

b. number of complaints disposed of during the financial year : Nil

c. number of complaints pending as on end of the financial year : Nil

SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS ANDDISCLOSURE REQUIREMENTS) REGULATIONS, 2015

As per the SEBI Circular No. SEBI/LAD-NRO/GN/2015-16/013 dated 2[nd ] September,2015, of Securities and Exchange Board of India (Listing Obligations And Disclosure Requirements) Regulations, 2015, the Paid up equity capital as on the last day of previous financial year i.e. on 31[st] March 2020 was 6,67,64,000.00/- and Net Worth was 6,79,65,417.00/-

Therefore, in terms of the said circular the compliance with the corporate governance provisions as specified in 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 V shall not apply in our Company.

CODE OF CONDUCT COMPLIANCE

The Board of Directors has approved a Code of Conduct which is applicable to the Members of the Board and all employees in the course of day to day business operations of the Company.

PARTICULARS OF EMPLOYEES

Information as per Section 134 of the Companies Act, 2013 read with Companies (Particulars of Employees) Rules, 1975 are given in the statement which from a part of this report. However as per the provisions of section 136 of the Companies Act, 2013, the report and accounts are being sent to all shareholders of the Company excluding the aforesaid information. Any shareholder interested in obtaining a copy of the particulars may write to the Company’s Registered Office.

LISTING WITH STOCK EXCHANGES

The Company has not paid the Annual Listing Fees for the year 2021-22 so far to BSE where the Company’s Shares are listed.

ACKNOWLEDGEMENT

Your Directors place on record their sincere appreciation of the services rendered by the employees of the Company. They are grateful to shareholders, bankers, depositors, customers and vendors of the company for their continued valued support. The Directors look forward to a bright future with confidence.

CAUTIONARY STATEMENT

The statements contained in the Board’s Report contain certain statements relating to the future and therefore are forward looking within the meaning of applicable securities, laws and regulations various factors such as economic conditions, changes in government regulations, tax regime, other statues, market forces and other associated and incidental factors may however lead to variation in actual result.

For and on behalf of the Board Jolly Plastic Industries Limited

Place: Delhi Atul Kumar Agarwal Braj Mohan Singh Dated: 03.09.2021 (DIN: 00022779) (DIN: 05229527) ( Director) (Director)

Annexure A

FORM NO. AOC-2

Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 including certain arms length transactions under third proviso thereto (Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014)

Details of contracts or arrangements or transactions not at arm's length basis:- None
(a) Name(s) of the related party and nature of relationship
(b) Nature of contracts/arrangements/transactions
(c) Duration of the contracts/arrangements/transactions
(d) Salient terms of the contracts or arrangements or transactions including the value, if any
(e) Justification for entering into such contracts or arrangements or transactions
(f) date (s) of approval by the Board
(g) Amount paid as advances, if any:
(h) Date on which the special resolution was passed in general meeting as required under first proviso to section 188
Details of material contracts or arrangement or transactions at arm's length basis:- Details are given in note number 25 attached with financial Statements.
(a) Name(s) of the related party and nature of relationship
(b) Nature of contracts/arrangements/transactions
(c) Duration of the contracts/arrangements/transactions
(d) Salient terms of the contracts or arrangements or transactions including the value, if any:
(e) Date(s) of approval by the Board, if any:
(f) Amount paid as advances, if any:

For and on behalf of the Board Jolly Plastic Industries Limited

Place: Delhi Atul Kumar Agarwal Braj Mohan Singh Dated: 03.09.2021 (DIN: 00022779) (DIN: 05229527) ( Director) (Director)

Annexure B

As per section 134(3) of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014

i) Conservation of Energy

The operations involve low energy consumption. Wherever possible, energy conservation measures have been implemented. Efforts to conserve and optimize the use of energy are a continuous process.

ii) Technology Absorption

Specific areas in which R & D carried out are as follows:
a) Review of the existing courses and evaluation of feasibility of the new courses to be launched and estimating the costing thereof.
b) Providing technical support on existing products.
Benefits derived as a result of the above R & D

As a result the organization is being able to implement current courses.

Expenditure on R & D: NIL

iii) Foreign Exchange Earnings & Outgo

There were no foreign exchange earnings as well as outgo of the Company during the year under report.

ACKNOWLEDGMENT

Your Directors would like to express their grateful appreciation for assistance and Cooperation received from the financial institutions, Government Authorities, Customers, Vendors and Members during the year under review. Your Directors, also wish to place on record their deep sense of appreciation for the committed services of executives, staff and workers of Company.

For and on behalf of the Board Jolly Plastic Industries Limited

Place: Delhi Atul Kumar Agarwal Braj Mohan Singh Dated: 03.09.2021 (DIN: 00022779) (DIN: 05229527) ( Director) (Director)

Annexure C

Form No. MR-3 SECRETARIAL AUDIT REPORT

For The Financial Year Ended 31[st] March, 2021

[Pursuant to section 204(1) of the Companies Act, 2013 and Rule No. 9 of the Companies (Appointment and Remuneration Personnel) Rules, 2014]

To,

The Members, JOLLY PLASTIC INDUSTRIES LIMITED 311, Third Floor, Pooja Complex, Harihar Chowk, Sadar Bazaar Rajkot 360001 (Gujarat)

We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by Jolly Plastic Industries Limited (hereinafter called “the Company”). Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing our opinion thereon.

Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the Company, the information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, the explanations and clarifications given to us and the representations made by the Management, we hereby report that in our opinion, the Company has during the audit period covering the financial year ended on March 31, 2021, generally complied with the statutory provisions listed hereunder and also that the Company has proper Board processes and compliance mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

We have examined the books, papers, minute books, forms and returns filed and other records made available to us and maintained by the Company for the financial year ended on March 31, 2021 according to the applicable provisions of:

(i) The Companies Act, 2013 (the Act) and the rules made there under;
(ii) The Securities Contract (Regulation) Act, 1956 (‘SCRA’) and the rules made there under;
(ii) The Depositories Act, 1996 and the Regulations and Bye-laws framed there under;
(iii) Foreign Exchange Management Act, 1999 and the rules and regulations made there under to the extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowings;
(iv) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’):
(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
(b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2019 and amendments from time to time;
(d) The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014; (Not applicable to the Company during the audit period)
(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008; (Not applicable to the Company during the audit period)
(f) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with client; (Not applicable to the Company during the audit period)
(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; (Not applicable to the Company during the audit period) and
(h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 and The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2019, (Not applicable to the Company during the audit period).

(vi) Other laws applicable specifically to the Company for the audit period.

We have also examined compliance with the applicable clauses of the following:

(i) Secretarial Standards issued by The Institute of Company Secretaries of India with respect to board and general meetings.

(ii) The Listing Agreements entered into by the Company with BSE Limited read with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

We further report that:

The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act.

Adequate notice was given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance for meetings other than those held at shorter notice, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

As per the minutes, the decisions at the Board Meetings were taken unanimously.

We further report that there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines etc.

For Richa Dhamija And Company (Practicing Company Secretaries)

Richa Dhamija M. NO. F9776 COP NO. 12099

Place: New Delhi Date: 03.09.2021

This Report is to be read with our letter of even date which is annexed as Annexure A and Forms an integral part of this report.

Annexure A

To,

The Members,

JOLLY PLASTIC INDUSTRIES LIMITED 311, Third Floor, Pooja Complex, Harihar Chowk, Sadar Bazaar Rajkot 360001 (Gujarat)

Our report of even date is to be read along with this letter.

Maintenance of secretarial records is the responsibility of the management of the Company. Our responsibility is to express an opinion on these secretarial records based on our audit.
We have followed the audit practices and process as were appropriate to obtain reasonable assurance about the correctness of the contents of the secretarial records. The verification was done on test basis to ensure that correct facts are reflected in secretarial records. We believe that the process and practices, we followed provide a reasonable basis for our opinion.
We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
Where ever required, we have obtained the Management Representation about the compliance of laws, rules and regulations and happening of events etc.
The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of management. Our examination was limited to the verification of procedure on test basis.
The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness with which the management has conducted the affairs of the Company.

For Richa Dhamija And Company (Practicing Company Secretaries)

Richa Dhamija M. NO. F9776 COP NO. 12099

Place: New Delhi Date: 03.09.2021

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

1. Industry structure and developments

The company is engaged in trading in shares, financial services and investment activities where the outlook of the business seems to be encouraging over and above we have been diversified into different businesses ranging from third party product distributions (lowest balance sheet risk) to originating unsecured personal loans, corporate loans (highest balance sheet risk). We believe that we are well placed to leverage on the growth opportunities in the economy.

2. Opportunities and Threats

OPPURTUNITIES

Increase in Income levels will aid greater penetration of financial products.
Positive regulatory reforms.
Increase in corporate growth & risk appetite.
Greater efficiency in debt market operations which will also help greater penetration.
Increased securitization.
Focus on selling new product/services.

THREATS

Inflation could trigger increase in consumer price inflation, which would dampen growth.
Increased competition in both local & overseas markets.
Unfavorable economic development.
Market risk arising from changes in the value of financial instruments as a result of changes in market variables like interest rate and exchange rates.

3. Segment–wise or product-wise performance

The company has only one segment line of business. Hence, this head does apply to our company.

4. Risks and concerns

Management of risk to the business is continuous challenge for any organization growing in size and enhancing its purpose. The traditional risk factors like client risks, industry segment risks and economic risk are well understood and the means to handle them are also fairly established.

5. Internal control systems and their adequacy

The company ensures existence of adequate internal control through policy and procedures to be followed by the executives at various levels in the company. The operating managers ensure compliance within their areas. The Company has internal Audit system to carry out extensive checking and test and report noncompliance/ weakness, if any through internal Audit Reports on the respective areas .These reports along with reports on compliance made thereafter are reviewed by the Audit Committee of the Board.

6. Material developments in Human Resources / Industrial Relations front, including number of people employed

Management relation with the employees remains cordial. The Company’s Human Resources philosophy is to establish and build a strong performance and competency drive culture with greater senses of accountability and responsibility. The industrial relations scenario remained peaceful and harmonious.

7. Disclosure Of Accounting Treatment

The financial statements of the Company have been prepared in accordance with the Indian Accounting Standards (IND AS) to comply with the Accounting Standards notified under Section 133 of the Companies Act, 2013 (“the 2013 Act”) and the relevant provisions of the 2013 Act, as applicable. The financial statements have been prepared on going concern basis under the historical cost convention on accrual basis. The Company has follows to continue with the period of 1st day of April to 31st day of March, each year as its financial year for the purpose of preparation of financial statements under the provisions of Section 2(41) of the Companies Act, 2013.

Cautionary Statement

Statements in the Management Discussion and Analysis describing the Company’s objectives, expectations, predictions and assumptions may be “FORWARD LOOKING” within the meaning of applicable Laws and Regulations. Actual results may differ materially from those expressed herein, important factors that could influence the Company’s operations include domestic economic Conditions affecting demand, supply, price conditions, and change in Government’s regulations, tax regimes, other statutes and other factors such as industrial relations.

For and on behalf of the Board Jolly Plastic Industries Limited

Place: Delhi Atul Kumar Agarwal Braj Mohan Singh Dated: 03.09.2021 (DIN: 00022779) (DIN: 05229527) ( Director) (Director)

(Director)

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF JOLLY PLASTIC INDUSTRIES LIMITED

I. Report on the Audit of the Standalone financial Statements

1 . Opinion

A. We have audited the accompanying Standalone Financial Statements of Jolly Plastic Industries Limited (“the Company”), which comprise the Balance Sheet as at March 31, 2021, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and the Statement of Cash Flows for the year ended on that date, and a summary of the significant accounting policies and other explanatory information (hereinafter referred to as“ the Standalone Financial Statements”).
B. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Standalone Financial Statements give the information required by the Companies Act, 2013 (“the Act”) in the manner so required and give a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, (“Ind AS”) and other accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2021, the profit and total comprehensive income, changes in equity and its cash flows for the year ended on that date

2. Basis for Opinion

We conducted our audit of the Standalone Financial Statements in accordance with the Standards on Auditing specified under section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Standalone Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the independence requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules made there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Standalone Financial Statements.

3. Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Standalone Financial Statements of the current period. These matters were addressed in the context of our audit of the Standalone Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined that there is no matters to be describe in key audit matters.

Information Other than the Standalone Financial Statements and Auditor’s Report Thereon

A. The Company’s Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the Management Discussion and Analysis, Board’s Report including Annexures to Board’s Report, Corporate Governance and Shareholder’s Information to the extent

applicable, but does not include the Standalone Financial Statements and our auditor’s report thereon. Our opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

B. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the Standalone Financial Statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

5. Management’s Responsibility for the Standalone Financial Statements

A. The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these Standalone Financial Statements that give a true and fair view of the financial position, financial performance, total comprehensive income, changes in equity and cash flows of the Company in accordance with the Ind AS and other accounting principles generally accepted in India. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

B. In preparing the Standalone Financial Statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are responsible for overseeing the Company’s financial reporting process.

6. Auditor’s Responsibilities for the Audit of the Standalone Financial Statements

A. Our objectives are to obtain reasonable assurance about whether the Standalone Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Standalone Financial Statements.
B. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

i) Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

ii) Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.

iii) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

iv) Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Standalone Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.

v) Evaluate the overall presentation, structure and content of the Standalone Financial Statements, including the disclosures, and whether the Standalone Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation.

C. Materiality is the magnitude of misstatements in the Standalone Financial Statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone Financial Statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Standalone Financial Statements.
D. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
E. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
F. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Standalone Financial Statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

II. Report on Other Legal and Regulatory Requirements

As required by Section 143(3) of the Act, based on our audit we report that:
A. We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit
B. In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.
C. The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income, Statement of Changes in Equity and the Statement of Cash Flow dealt with by this Report are in agreement with the relevant books of account
D. In our opinion, the aforesaid standalone financial statements comply with the Ind AS specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,2014
E. On the basis of the written representations received from the directors as on March 31, 2021 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2021from being appointed as a director in terms of Section 164 (2) of the Act.
F. With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in “Annexure A ”. Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the Company’s internal financial controls over financial reporting.
G. With respect to the other matters to be included in the Auditor’s Report in accordance with the requirements of section 197(16) of the Act, as amended:

In our opinion and to the best of our information and according to the explanations given to us, the remuneration paid by the Company to its directors during the year is in accordance with the provisions of section 197 of the Act.

H. With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, as amended in our opinion and to the best of our

information and according to the explanations given to us:

i) The Company does not have any pending litigations which would impact its financial position.

ii) The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

iv) There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”) issued by the Central Government in terms of Section 143(11) of the Act, we give in “ Annexure B ” a statement on the matters specified in paragraphs 3 and 4 of the Order to the extent applicable.

For : Moon And Company Chartered Accountants FRNo.024693N

CA Moon Goel (Partner) M. No. 523034 UDIN: 21523034AAAAEN9344

Place: New Delhi Dated: 29/06/2021

JOLLY PLASTIC INDS LIMITED

Annexure “A” to the Independent Auditors Report

Pursuant to Companies (Auditors Report) Order 2016

Report on the Internal Financial Controls under Clause (i) of sub-section 3 Section 143 of the Companies Act, 2013 ('the Act')

We have audited the internal Financial Controls over financial reporting of JOLLY PLASTIC INDUSTRIES LIMITED ("the Company") as at March 31, 2021 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's Management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India (:ICAI"). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the Company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditor's Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the 'Guidance Note') and the Standards on Auditing, issued by the ICAI and deemed to be prescribed under Section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors' judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis of our audit opinion on the Company's internal financial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of the Management and directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31st March 2021, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

For: Moon And Company Chartered Accountants FRNo.024693N

CA Moon Goel (Partner) M. No. 523034 UDIN: 21523034AAAAEN9344

Place: New Delhi Dated: 29/06/2021

JOLLY PLASTIC INDS LIMITED

Annexure “B” to the Independent Auditors Report

Pursuant to Companies (Auditors Report) Order 2016

(i) (a) The Company has no fixed assets, so there is no question arises to maintain the records of fixed assets.
(b) As explained to us, whether the company has no fixed assets, physical verification of fixed assets is not applicable by the management.
(c) As explained to us, there is no immovable property held by the company.

(ii) As explained to us, there is no inventory in the company. So physical verification of inventory will not be applicable.

(iii) The Company has granted loans, secured or unsecured to companies, firms, Limited Liability Partnership or other parties covered in the register maintained under section 189 of the Act. Accordingly the provisions of clause 3(iii) (a) to (C) of the Order are applicable to the Company.

The Terms and conditions of the grant of such loan are not prejudicial to the company’s interest
The schedule of repayment of principal and payment of interest has been stipulated and the repayments and receipts are regular.
The amount is not overdue

(iv) In our opinion and according to the information ad explanations given to us, the company has complied with the provisions of section 185 and 186 of the Companies Act, 2013, in respect of loans, investments, guarantees, and security.

(v) The company has not accepted any deposit from the public and hence the directives issued by the Reserve Bank of India and the provisions of Section 73 to 76 or any other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with regard to the deposits accepted from the public are not applicable.

(vi) As informed to us, the maintenance of cost records has not been specified by the Central Government under sub-section (1) of Section 148 of the Companies Act, in respect of the activities carried on by the company.

(vii) (a) According to information and explanations given to us and on the basis of our examination of the books of account, and records, the Company has been generally regular in depositing undisputed statutory dues including provident fund, Employees State Insurance, IncomeTax, Sales Tax, Service Tax, Duty of Customs, Duty of Excise, Value Added Tax, Goods and Services Tax, Cess and any other statutory dues with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the above were in arrears as at March 31, 2021 for a period of more than six months from the date on when they become payable.

(b) According to the information and explanations given to us, there is disputed outstanding amount as follows:

Nature of Dues		Period	Amount


Income Tax	A.O	A.Y. 2018-19	6,74,670

(viii) In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of dues of banks. The Company has not taken any loan either from financial institutions or from the government and has not issued any debentures.

(ix) Based upon the audit procedures performed and the information and explanations given by the management, the Company has not raised money by way of initial public offer or further public offer including debt instruments and term loans. Accordingly, the provisions of clause 3(ix) of the order are not applicable to the company and hence not commented upon.

(x) Based upon the audit procedures performed and the information and explanations given by the management, we report that no fraud by the company or on the company by its officers or employees has been noticed or reported during the year.

(xi) Based upon the audit procedures performed and the information and explanations given by the management, the managerial remuneration has been paid or provided in accordance with the requisite approvals mandated by the provisions of Section 197 read with Schedule V of the Companies Act.

(xii) In our opinion, the company is not a Nidhi Company. Therefore, the provisions of clause 4(xii) of the order are not applicable to the Company.

(xiii) In our opinion, all transactions with the related parties are in compliance with section 177 and 188 of the Companies Act, 2013 and the details have been disclosed in the Financial Statements as required by the applicable accounting standards.

(xiv) Based upon the audit procedures performed and the information and explanations given by the management, the Company has not made any preferential allotment of private placement of shares or fully or partly convertible debentures during the year under review. Accordingly, the provisions of clause 3(xiv) of the Order are not applicable to the Company and hence not commented upon.

(xv) Based upon the audit procedures performed and the information and explanations given by the management, the Company has not entered into any non-cash transactions with directors or persons connected with them. Accordingly, the provisions of clause 3 (xv) of the Order are not applicable to the Company and hence not commented upon.

(xvi) The Company is not registered under section 45-IA of the Reserve Bank of India Act, 1934.

For: Moon And Company Chartered Accountants FRNo.024693N

CA Moon Goel (Partner) M. No. 523034 UDIN: 21523034AAAAEN9344

Place: New Delhi Dated : 29/06/2021

Balance Sheet as at 31st March, 2021 JOLLY PLASTIC INDUS LIMITED CIN NO. L70100GJ1981PLC004932	Balance Sheet as at 31st March, 2021 JOLLY PLASTIC INDUS LIMITED CIN NO. L70100GJ1981PLC004932	Balance Sheet as at 31st March, 2021 JOLLY PLASTIC INDUS LIMITED CIN NO. L70100GJ1981PLC004932	Balance Sheet as at 31st March, 2021 JOLLY PLASTIC INDUS LIMITED CIN NO. L70100GJ1981PLC004932
		(Amount in₹)
Particulars	Note No.	As at March 31, 2021	As at March 31, 2020
ASSETS Non-current assets (a) Property, Plant and Equipment (b) Capital Work in Progress (c) Intangible assets (d) Financial assets (i) Other financial assets (ii) Investments (e) Advance Income tax assets (net) (f) Deffered Tax Assets (g) Other non-current assets Total (A) Current assets (a) Inventories (b) Financial Assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (c) Current Income tax assets (net) (d) Other current assets Total (B) TOTAL ASSETS (A+B)	4 5 6 7 8 9	- - - - - 25,50,000 - - 6,35,46,278	- - - - - 25,50,000 - - 5,20,03,219
		6,60,96,278 - - - 11,30,268 - 12,16,260	5,45,53,219 - - 1,04,78,612 24,25,745 - 6,46,435
		23,46,528	1,35,50,793
		6,84,42,806	6,81,04,012

EQUITY AND LIABILITIES Equity Equity share capital Other Equity Liabilities Non-current Liabilities (a) Financial liabilities (b) Provisions (c) Deferred tax liabilities (Net) (d) Other non-current liabilities Total A Current Liabilities (a) Financial liabilities (i) Borrowings (ii) Trade payables (iii) Other financial liabilities (b) Other current liabilities (c) Provisions Total B Total liabilities (A+B) Total equity and liabilities	10 11 12 13 14	6,67,64,000 12,10,710	6,67,64,000 12,01,417
		6,79,74,710 - - - -	6,79,65,417 - - - -
		6,79,74,710 - - - 4,64,832 3,265	6,79,65,417 - - - 1,13,442 25,153
		4,68,097	1,38,595

		6,84,42,806	6,81,04,012
Notes 1 to 25 referred to herein form an integral part of the Financial Statement For And on Behalf of the Board Jolly Plastic Industries Limited Date :29/06/2021 Place : New Delhi DIN - 00022779 DIN - 05229527 Atul Kumar Agarwal Braj Mohan Singh (Director) ( MD/CFO)		- For : Moon And Company (Chartered Accountants) Firm Reg. No. 024693N Priyanka Parashar PAN: BKXPP6798Q CA Moon Goel (Partner) M.No. 523034 UDIN: 21523034AAAAEN9344 (Company Secretary)

	JOLLY PLASTIC INDUS LIMITED CIN NO. L70100GJ1981PLC004932 Profit & Loss Account for theyear ended 31st March, 2021	JOLLY PLASTIC INDUS LIMITED CIN NO. L70100GJ1981PLC004932 Profit & Loss Account for theyear ended 31st March, 2021	JOLLY PLASTIC INDUS LIMITED CIN NO. L70100GJ1981PLC004932 Profit & Loss Account for theyear ended 31st March, 2021	JOLLY PLASTIC INDUS LIMITED CIN NO. L70100GJ1981PLC004932 Profit & Loss Account for theyear ended 31st March, 2021
			(Amount in₹)
	Particulars	Note No	For the Year Ended March 31, 2021	For the Year Ended March 31, 2020
I II III IV V VI VII VIII IX X XI	Revenue from operations (gross) Other income	15 16	30,88,04,494 34,12,178	17,64,52,651 17,54,476
	Total income ( I + II )		31,22,16,672	17,82,07,127
	Expenses: Cost of materials consumed Changes in inventories of finished goods and work-in-progress Excise Duty on sales Purchases Power and Fuel Employee benefits expense Finance costs Depreciation and amortisation expense Other expenses Administrator & Other expenses	17 18 19 20	- - 31,10,03,753 - 4,60,000 - - 7,40,362	- 55,45,000 17,23,79,451 - 2,34,452 48,805 - 3,76,105
	Total Expenses		31,22,04,115	17,85,83,812
	Profit/(loss) before exceptional item and tax (III-IV) Exceptional item (Prior Period Income) Profit/(loss) before tax (V-VI) Tax-expense/(Credit): -Current tax -Deferred tax -MAT Credit Entitlement Profit/(loss) for the year (VII-VIII) Other Comprehensive income/(loss) Item that will not be subsequently reclassified to profit or loss (a) Re-measurement gains/(losses) on defined benefit obligations (b) Income tax effect Item that may be subsequently reclassified to profit or loss: (a) Cash flow hedges (b) Income tax effect Total Other Comprehensive income/(loss) for the year Total Comprehensive income/(loss) for the year		12,557 -	(3,76,685) 4,73,426
			12,557	96,741
			3,265 - -	25,153 - -
			9,292	71,588
			- - - - -	- - - - -
			-	-
			9,292	71,588
XII.	Earnings/(loss) per equity share (of Rs. 10/- each) Basic and Diluted ( in Rs. per share)		0.0001	0.0011
Othe	r Notes Forming Part of the Financial Statements 1-25
For And on Behalf of the Board For : Moon And Company Jolly Plastic Industries Limited (Chartered Accountants) Firm Reg. No. 024693N Priyanka Parashar (Company Secretary) PAN: BKXPP6798Q CA Moon Goel (Partner) M.No. 523034 Place : New Delhi UDIN: 21523034AAAAEN9344 Date :29/06/2021 (Director) ( MD/CFO) DIN - 00022779 DIN - 05229527 Atul Kumar Agarwal Braj Mohan Singh Notes referred to herein form an integral part of the Financial Statement

JOLLY PLASTIC INDUS LIMITED	JOLLY PLASTIC INDUS LIMITED	JOLLY PLASTIC INDUS LIMITED	JOLLY PLASTIC INDUS LIMITED
CIN NO. L70100GJ1981PLC004932
Cash Flow Statement as on 31st March, 2021
		(Amount in ₹)
	Particulars	For the Year Ended March 31, 2021	For the Year Ended March 31, 2020
A. B. C.	Cash flow from operating activities Profit/(loss) before tax Adjusted for : Depreciation and amortisation expense Leasehold prepayments amortisation Interest income Finance cost (Profit)/loss on sale of investments Gain on mark to market of investments (Profit)/loss Prior period item Miscellaneous Expenses w/o Net (gain)/loss on foreign currency transactions and translation Provision for Income Tax Deferred Government grant transferred Operating profit/(loss) before working capital changes I Adjusted for : (Increase)/Decrease in trade receivables (Increase)/Decrease in inventories (Increase)/Decrease in other assets Increase/(Decrease) in trade payables Increase/(Decrease) in Term loans & Advances Increase/(Decrease) in other liabilities Increase/(Decrease) in provisions II Cash generated from operations I+II Net Income taxes (paid) / refunds Net cash from operating activities A Cash flow from investing activities Capital expenditure on property, plant and equipments including capital advances Sale of property, plant and equipments/non-current assets Purchases of investments Sale of investments Advances (given)/recovered Interest received Bank balances not considered as cash and cash equivalents -Deposits placed -Deposits matured Net cash used in investing activities B Cash flow from financing activities Proceeds from long-term borrowings Proceeds from short term borrowings Repayment of long-term borrowings Repayment of short-term borrowings Loan & Advances Made Interest and finance charges paid Net cash used in financing activities C Net (decrease) / increase in cash and cash equivalentsA+B+C Cash and cash equivalents as at the beginning of the year	12,557 - - - - - -	96,741 - - - - - -
		-	-
		- - - -	- - - -
		12,557	96,741
		1,04,78,612 - (5,69,825) - - 3,51,390 -	(98,06,540) 55,45,000 1,37,815 - - (88,163) -
		1,02,60,178	(42,11,889)
		1,02,72,735 (25,153)	(41,15,148) 31,771
		1,02,47,582	(41,46,919)
		- - - - - - - - -	- - - 45,10,000 (1,65,576) - - - -
		-	43,44,424
		- - - - (1,15,43,059) -	- - - - - -
		(1,15,43,059)	-

		(12,95,477)	1,97,505
		24,25,745	22,28,241
	Cash and cash equivalents as at the End of theyear	11,30,268	24,25,745
Behalf of the Board Date :29/06/2021 Place : New Delhi DIN - 00022779 DIN - 05229527 PAN: BKXPP6798Q (Director) ( MD/CFO) (Company Secretary) Atul Kumar Agarwal Braj Mohan Singh Priyanka Parashar Other Notes Forming Part of the Financial Statements 1-25 Notes referred to herein form an integral part of the Financial Statement Jolly Plastic Industries Limited		For : Moon And Company (Chartered Accountants) Firm Reg. No. 024693N CA Moon Goel (Partner) M.No. 523034 UDIN: 21523034AAAAEN9344

Statement of Changes in Equity for the year ended March	31, 2021	31, 2021	31, 2021	31, 2021	31, 2021


A Equity Share Capital

Particulars	As at March 31, 2021			As at March 31, 2020
Equity shares of Rs. 1 each issued, subscribed and fully paid	No. Of Shares	Rupees		No. Of Shares	Rupees
As at April 1, 2019	6,67,64,000	6,67,64,000		6,67,64,000	6,67,64,000
As at March 31,2020	6,67,64,000	6,67,64,000		6,67,64,000	6,67,64,000
As at March 31, 2021	6,67,64,000	6,67,64,000		6,67,64,000	6,67,64,000

B Other Equity

Particulars	Reserve and surplus
	Security Premium	Retained Earnings	Debenture Redemption Reserve	General Reserve	Total reserves
Add:deffered tax wo Balance as at March 31, 2019 Profit for the year Other comprehensive income/(loss) for the year Total comperhensive income/(loss) for the Income tax refund Transferred (from)/to Debenture Redemption Reserve	27,00,000 - -	(9,01,228) 71,588 (6,68,942)	- - -	- - -	(6,68,942) 71,588 17,98,772 -
		-
	27,00,000 - -	(14,98,582) - -	- - -	- - -	- 12,01,418 -
Transferred (from)/to Debenture Redemption Reserve Income tax refund Profit for the year Other comprehensive income/(loss) for the year Total comperhensive income/(loss) for the Add:deffered tax wo Balance as at April 1, 2020	27,00,000 - -	(14,98,582) 9,292 -	- - -	- - -	- 9,292 - 12,01,418
		-
	27,00,000 - -	(14,89,290) - -	- - -	- - -	- - 12,10,710
Balance as at March 31, 2021	27,00,000	(14,89,290)	-	-	12,10,710

Notes on Financial Statements
4 Investments
Particulars	As at March 31, 2021	As at March 31, 2020
Investment in equity share of subsidiary company Other than Trade-quoted(At Cost) Investment in equity share	- - 25,50,000	- - 25,50,000
Total	25,50,000	25,50,000

5 Other non-current assets
Particulars	As at March 31, 2021	As at March 31, 2020
Unsecured, considered good Advance against immovable property Loan & Advances (a) Unsecured, considered good; (b)Doubtful	- 4,86,46,278 1,49,00,000	2,08,36,000 2,12,67,219 99,00,000
Total	6,35,46,278	5,20,03,219

6 Inventories
Particulars	As at March 31, 2021	As at March 31, 2020
(a)Finishedgoods/Tradedgoods	-	-
Total	-	-

7 Financial assets - current : Trade receivable
Particulars	As at March 31, 2021	As at March 31, 2020
Unsecured, considered good Trade receivable	-	1,04,78,612
Total	-	1,04,78,612

8 Financial assets - Current : Cash and cash equivalents
Particulars	As at March 31, 2021	As at March 31, 2020
Cash on hand	2,42,122	8,07,372
Balances with banks	8,88,146	16,18,373
Total	11,30,268	24,25,745

9 Other Current Assets
Particulars	As at March 31, 2021	As at March 31, 2020
Unsecured, considered good Mat Credit Entitlement Balances with statutory/Government authorities Interest receivable	- 1,46,298 10,69,962	49,660 4,86,854 1,09,921
Total	12,16,260	6,46,435

10 Share capital
Particulars	As at March 31, 2021		As at March 31, 2020
	Number of shares	Amount	Number of shares	Amount
(a) Authorised Share Capital Opening/Closing balance (equity shares of Rs 1 each)	12,00,00,000	12,00,00,000	12,00,00,000	12,00,00,000
TOTAL	12,00,00,000	12,00,00,000	12,00,00,000	12,00,00,000
(b) Issued, subscribed and fully Paid up Opening/Closing balance (equity shares of Rs 1 each)	6,67,64,000	6,67,64,000	6,67,64,000	6,67,64,000
TOTAL	6,67,64,000	6,67,64,000	6,67,64,000	6,67,64,000

(c) Details of shares held by each shareholder holding more than 5% shares
Name of Shareholder	As at March 31, 2021		As at March 31, 2020
	No. of Shares held	% of Holding	No. of Shares held	% of Holding
SteadyCapital Advisors Services Pvt Ltd	39,39,000	5.08%	39,39,000	5.08%


11 Reserve & Surplus
Particulars	As at March 31, 2021		As at March 31, 2020
	Amount		Amount
Security premium I Opening Balance Of Profit & loss A/c Add:deffered tax wo Add:Current year Profit & loss A/c II	27,00,000		27,00,000

	(14,98,583)		(9,01,229)
	-		(6,68,942.00)
	9,292		71,588
	(14,89,290)		(14,98,583)

TOTAL I+II	12,10,710		12,01,417

12 Financial liabilities - Current : Other financial liabilities
Particulars	As at March 31, 2021	As at March 31, 2020
Dues to relatedparties(refer note 25)	-	-
Total	-	-

13 Other Current liabilities
Particulars	As at March 31, 2021	As at March 31, 2020
Statutory liabilities Other liabilities	- 4,64,832	4,836 1,08,606
Total	4,64,832	1,13,442

14 Provisions
Particulars	As at March 31, 2021	As at March 31, 2020
Provision for Income Tax	3,265	25,153
Total	3,265	25,153

15 Revenue from operations
Particulars	For the Year Ended
	March 31, 2021		March 31, 2020
Sale (gross)	30,88,04,494		17,64,52,651
Revenue from operation(gross)	30,88,04,494		17,64,52,651
* Include Income from F & O

16 Other income
Particulars	For the Year Ended
	March 31, 2021		March 31, 2020
Interest Income Profit on sale of investment Miscellaneous receipts	34,12,178		17,14,476
	-		40,000
	-		-
Total	34,12,178		17,54,476

17 Changes in inventories of finishedgoods and work-in-progress
Particulars	For the Year Ended
	March 31, 2021		March 31, 2020
Opening inventoriesFinished goods Work in progess By products	-		55,45,000
Closing inventoriesFinishedgoods Work inprogess By products	-		-
Total	-		55,45,000

18 Employee benefits expense
Particulars	For the Year Ended
	March 31, 2021		March 31, 2020
(a) Salaries and wages	4,60,000		2,34,452
Total	4,60,000		2,34,452

19 Finance cost
Particulars	For the Year Ended
	March 31, 2021	March 31, 2020
Interest expense	-	48,804.57
Total	-	48,804.57

20 Other expenses
Particulars	For the Year Ended
	March 31, 2021	March 31, 2020
Advertisement Expenses Auditors fee CDSL/ Listing fee Legal & Professiional Fee Site Maintenance Exp. Secretial exp Share Transfer expenses Travelling & Conveyance Diwali Exp Bank Charges NSDL Expenses Roc Expenses Printing & Stationery Amount W/o GST Expenses Short & Excess Demat Charges Rent	28,520 20,000 3,96,500 - - 15,000 79,888 - 15,800 2,223 22,500 2,400 1,580 49,713 28,330 (1,217) 2,124 77,000	43,848 20,000 44,250 25,000 3,717 15,000 58,500 19,800 25,800 1,960 26,550 19,000 2,680 - - 70,000
Total	7,40,362	3,76,105

21. Contingent Liabilities and commitments	(Amount in₹)	(Amount in₹)
Particulars	Year ended March 31, 2021	Year ended March 31, 2020
Guaranteegiven byCompany*	Nil	Nil
Income Tax matter in dispute	Nil	Nil
22. Obligation & Commitments outstanding * There is a gurantee given by the company in year 1987-1988 which is modified in 1993-94 is still open it doesn't have persuasive effect on financail ststement which does not change the opinion of Auditors.
Particulars	Year ended March 31, 2021	Year ended March 31, 2020
a). Estimated Value of contracts remainingto be executed	Nil	Nil
b). Bill Discounted with Bank	Nil	Nil
22.a). The response to letters sent by the Company requesting confirmation of balances has been insignificant. In the management's opinions, adjustment on reconciliation of the balances, if any required ,will not be material in relation to the financial statements of the company and the same will be adjusted in the financial statements as and when the confirmations are received and reconciliations are completed. b).Inventories, loans & advances, trade receivables and other current / non-current assets are reviewed annualy and in the opinion of the management do not have a value on realization in the ordinary course of business, less than the amount at which they are stated in the balance sheet. c). Previous year figures have been regrouped and rearranged to make them comparable with the current year figures. d). Estimation of uncertainties relating to the global health pandemic from COVID-19 World Health Organisation (WHO) declared Outbreak of Corona virus disease (COVID-19) a global pandemic on March 11 2020 . Consequent to this Government of India declared lock down on 24 March 2020 which has impacted the business activities of the company. The company has taken various measures in consonance with central and state government or it is to contain the pandemic command which includes closing of offices and adopting work from home policy for employees. Given the uncertainty of quick turn down to normalcy, post lifting of the lock down, the company has carried out a comprehensive assessment of possible impact on its business operations, financial assets common contractual obligations and its over on equity position, based on the internal external sources of information and application of reasonable estimates. the company does not foresee any significant incremental risk to the recoverability of its assets or in meeting its financial obligations over the foreseeable future given early and its quite steps taken to contain, protect and mitigate the exposure pursuant to the relax guidelines, the company has now resumed its operations and activities as allowed in strict keeping with government at advisors. however, most of the staff continued to operate from home. Since the situations are continuously evolving, the impact assessment be different from the estimates made has at the date of approval of these financial statement and the management to will continue to monitor any material changes arising due to the impact of this pandemic on financial and operational performance of the company and take necessary measures to address the situations. 23)The company opreates in a two type of business i.e. Income form Shares & Interest Income and single geographical segment i.e.with in India Accordingly no seprate disclosures for primary Business and Second Geographical segment are required.
24. Payments to auditors	For the Year Ended	For the Year Ended
	31-Mar-21	31-Mar-20
As Auditor - for statutory audit and limited review For other services	20,000	20,000
Total	20,000	20,000
Earnings per share(EPS)
Particulars	31-Mar-21	March 31, 2020
Net profit/(loss) after tax for the year Weighted number of ordinary shares for basic EPS Nominal value of ordinary share (in Rs. per share) Basic and Diluted earnings for ordinary shares (in Rs. per share)	9,292 6,67,64,000 1 0.0001	71,588 6,67,64,000 1 0.0011

(ii) Subsidiary companies : NIL 25 RELATED PARTY DISCLOSURES A Names of related parties and description of relation : (i) Holding companies: NIL (iii) Related parties other than holding companies with whom transactions have taken place during the year (a) Fellow subsidiaries :NIL (b) Other related parties Abhinav Leasing And Finance Limited, Aglow Financial Services Pvt Ltd, Salora Capital Ltd, Sarnimal Investment Limited, MIDAS Commodity Pvt. Ltd, Sudhir Agarwal & Associates, Shridhar Financial Services limited, Chirshmatic Developers Pvt Limited, Midas Global Securities Limited, Svam Softwares Limited (iv) Key Management Personal : Mr. Atul Kumar Agarwal, Mrs. Payal Agarwal, Mr. Adesh Kumar Agarwal, Mr. Braj Mohan Singh(MD/C.F.O.), Priyanka Parashar(CS)	(ii) Subsidiary companies : NIL 25 RELATED PARTY DISCLOSURES A Names of related parties and description of relation : (i) Holding companies: NIL (iii) Related parties other than holding companies with whom transactions have taken place during the year (a) Fellow subsidiaries :NIL (b) Other related parties Abhinav Leasing And Finance Limited, Aglow Financial Services Pvt Ltd, Salora Capital Ltd, Sarnimal Investment Limited, MIDAS Commodity Pvt. Ltd, Sudhir Agarwal & Associates, Shridhar Financial Services limited, Chirshmatic Developers Pvt Limited, Midas Global Securities Limited, Svam Softwares Limited (iv) Key Management Personal : Mr. Atul Kumar Agarwal, Mrs. Payal Agarwal, Mr. Adesh Kumar Agarwal, Mr. Braj Mohan Singh(MD/C.F.O.), Priyanka Parashar(CS)	(ii) Subsidiary companies : NIL 25 RELATED PARTY DISCLOSURES A Names of related parties and description of relation : (i) Holding companies: NIL (iii) Related parties other than holding companies with whom transactions have taken place during the year (a) Fellow subsidiaries :NIL (b) Other related parties Abhinav Leasing And Finance Limited, Aglow Financial Services Pvt Ltd, Salora Capital Ltd, Sarnimal Investment Limited, MIDAS Commodity Pvt. Ltd, Sudhir Agarwal & Associates, Shridhar Financial Services limited, Chirshmatic Developers Pvt Limited, Midas Global Securities Limited, Svam Softwares Limited (iv) Key Management Personal : Mr. Atul Kumar Agarwal, Mrs. Payal Agarwal, Mr. Adesh Kumar Agarwal, Mr. Braj Mohan Singh(MD/C.F.O.), Priyanka Parashar(CS)	(ii) Subsidiary companies : NIL 25 RELATED PARTY DISCLOSURES A Names of related parties and description of relation : (i) Holding companies: NIL (iii) Related parties other than holding companies with whom transactions have taken place during the year (a) Fellow subsidiaries :NIL (b) Other related parties Abhinav Leasing And Finance Limited, Aglow Financial Services Pvt Ltd, Salora Capital Ltd, Sarnimal Investment Limited, MIDAS Commodity Pvt. Ltd, Sudhir Agarwal & Associates, Shridhar Financial Services limited, Chirshmatic Developers Pvt Limited, Midas Global Securities Limited, Svam Softwares Limited (iv) Key Management Personal : Mr. Atul Kumar Agarwal, Mrs. Payal Agarwal, Mr. Adesh Kumar Agarwal, Mr. Braj Mohan Singh(MD/C.F.O.), Priyanka Parashar(CS)

B Transactions with related parties
Particular		For the year ended, 2021	For the year ended, 2020
Interest expense
Salora Capital Limited Svam Software Limited	Director Interested Director Interested	- -	46,947 1,000
Avika Developers Private Limited Sarnimal Investment	Director Interested	-	420
	Director Interested	-	438
Total		-	48,805
Interest Income Abhinav Leasing & Financial Services Tridev Infra Estates Ltd Aglow Financial Services Pvt Ltd

	Director Interested	-	2,64,000
	Director Interested	-	1,300
	Director Interested	1,88,160	2,18,800
Total		1,88,160	4,84,100
Sale Midas Commodities Pvt Ltd Sarnimal Investment Limited Midas Global Securities Pvt Ltd
	Associates Company	43,79,526	17,09,07,651
	Associates Company	-	55,45,000
	Associates Company	-	-
Total		43,79,526	17,64,52,651
Purchase Midas Commodities Pvt Ltd
	Director Interested	17,00,000	17,23,79,451
Total		17,00,000	17,23,79,451

Loss From Midas Commodity Pvt Ltd			-

Particulars		March 31, 2021	March 31, 2020
Amount given during the year		8,00,000 28,07,000 - 53 33,29,500 16,40,000
Aglow Financial services Limited Abhinav Leasing & Financial Services Shridhar Financial Services Limited Tridev Infra Estates Ltd Salora Capital Limited Midas Global Securities Limited	Director Interested Director Interested Director Interested Director Interested Director Interested Director Interested		62,14,000 27,00,000 30,00,000 25,000 - 17,90,000
Total		85,76,553	1,37,29,000

Particulars		March 31, 2021	March 31, 2020
Amount taken during the year		80,000 1,74,048 - -	- -
Abhinav Leasing & Financial Services Aglow Financial services Limited Sarnimal Investment Limited Svam Software Limited	Director Interested Director Interested Director Interested Director Interested
			6,40,000 30,000
Avika Developers Private Limited Shridhar Financial Services Limited Salora Capital Limited	Director Interested Director Interested Director Interested	- 16,80,000 -	30,000 - 44,07,500
Total		19,34,048	51,07,500

Particulars		March 31, 2021	March 31, 2020
Amount Recovered		28,07,000 - - 53 46,07,320 33,29,500
Abhinav Leasing & Financial Services Shridhar Financial Services Limited Midas Global Securities Limited Tridev Infra Estates Limited Aglow Financial Services Pvt Ltd Salora Capital Limited	Director Interested Director Interested Director Interested Director Interested Director Interested Director Interested		27,00,000 30,00,000 17,90,000 25,000 26,03,600 -

Particulars		March 31, 2021	March 31, 2020
Amount Repaid		80,000 -
Abhinav Leasing & Finance Limited Svam Software Limited	Director Interested Director Interested		- 30,000
Sarnimal Investment Limited Sai Baba Finvest Private Limited Shridhar Financial Services Limited Salora Capital Limited	Director Interested Director Interested Director Interested Director Interested	- - 16,80,000 -	6,40,000 30,000 - 44,07,500

Particulars		March 31, 2021	March 31, 2020
Balance outstanding at the year end Amount Receivable
Sarnimal Investment Limited Aglow Financial Services Pvt Ltd	Director Interested Director Interested	- -	55,78,840 38,04,958
Amount Payable

3. Summary of significant accounting policies.

a)Use of Estimates

In preparation of the financial statements, the Company makes judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and the associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates

The estimates and the underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised and future periods affected

b) Revenue Recognition

Revenue is recognized for amounts the Company expects to be entitled to in exchange for transferring promised goods and services to a customer excluding amounts collected on behalf of third parties e.g. sales tax.

Revenue from contracts with customers is recognized when the Company satisfies the performance obligation identified in the contract through transfer of control of the promised goods and services. Contract with a customer is accounted for when all the following criteria are met:

 the parties to the contract have approved the contract and are committed to perform their respective obligations;

 each party’s rights regarding the goods or services to be transferred are identifiable;

 payment terms for the goods or services to be transferred are identifiable;

 the contract has commercial substance (i.e. the risk, timing or amount of the entity’s future cash flows is expected to change as a result of the contract); and

 it is probable that the entity will collect the consideration to which it is be entitled in exchange for the goods or services that will be transferred to the customer.

Service income

Revenue from service transactions is usually recognized as the service is performed on conversion of customer’s material by the percentage completion method. Processing charges include freight and packaging charges but are net of service tax.

c) Inventories

Finished goods are valued at lower of cost or net realizable value. Net realizable value is the price at which the inventories can be realized in the normal course of business after allowing for the cost of conversion from their existing state to a finished condition and for the cost of marketing, selling and distribution.

d) Investments

Long-term investments are stated at cost. Provision for diminution in the value of long term investment is made only if, such a decline is other than temporary in the opinion of the management. The Current investments are stated at lower of cost or quoted/fair vale market value computed category wise

e)Fixed, Intangible Assets & Borrowing Cost

The company has no any Fixed, Intangible Assets & Borrowing Cost during the financial year 2020-21.

f)Depreciation & Amortization

Whether the company have no any Fixed and Intangible Assets, therefore there is no question arises to consideration of Depreciation & Amortization of respective assets.

g) Cash & Cash equivalent

Cash and cash equivalents comprise cash and cash or deposit with banks and corporations. The company considers all highly liquid investments with a remaining maturity at the date of purchase of three months or Less and that are readily convertible to know amounts of cash to be cash equivalents.

h) Employee Benefits

Company has complied with all labor laws.

i)Accounting for Taxes for Income

Deferred Tax: - Deferred tax is provided on timing differences between tax and accounting treatments that originate in one period and are expected to be reversed or settled in subsequent periods. Deferred tax assets and liabilities are measured using the enacted/substantively enacted tax rate for continuing operations. Adjustment of deferred tax liability attributable to change in tax rate is shown in the statement of profit and loss as a part of the deferred tax adjustment for the year.

(ii) There is no Intangible Assets.

(iii) The borrowing cost such as interest, processing fee etc. are recognized in accordance with principal laid down in the Accounting standard 16. Cost of borrowing related to General borrowing in changed to profit/loss Account.

j)Provisions and Contingent Liabilities

Provisions are recognized in the balance sheet when the Company has a present obligation (legal or constructive) as a result of a past event, which is expected to result in an outflow of resources embodying economic benefits which can be reliably estimated. Each provision is based on the best estimate of the expenditure required to settle the present obligation at the balance sheet date. When appropriate, provisions are measured on a discounted basis

Constructive obligation is an obligation that derives from an entity’s actions where:

(a) by an established pattern of past practice, published policies or a sufficiently specific current statement, the entity has indicated to other parties that it will accept certain responsibilities; and

(b) As a result, the entity has created a valid expectation on the part of those other parties that it will discharge those responsibilities.

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognized as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Contingent liabilities are not recognized but are disclosed in the notes. Contingent assets are neither recognized nor disclosed in the financial assets

k)Financial liabilities and equity instruments

Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue costs.

Financial Liabilities

Trade and other payables are initially measured at fair value, net of transaction costs, and are subsequently measured at amortized cost, using the effective interest rate method. Interest-bearing bank loans, overdrafts and issued debt are initially measured at fair value and are subsequently measured at amortized cost using the effective interest rate method. Any difference between the proceeds (net of transaction costs) and the settlement or redemption of borrowings is recognized over the term of the borrowings in accordance with the Company’s accounting policy for borrowing cost

Derecognition of financial liabilities

The Company derecognizes financial liabilities when, and only when, the Company’s obligations are discharged, cancelled or they expire.

Derivative financial instruments and hedge accounting

In the ordinary course of business, the Company uses certain derivative financial instruments to reduce business risks which arise from its exposure to foreign exchange and interest rate fluctuations. The instruments are confined principally to forward foreign exchange contracts, cross currency swaps and interest rate swaps. The instruments are employed as hedges of transactions included in the accounts or for highly probable forecast transactions/ firm contractual commitments. These derivatives contracts do not generally extend beyond 12 months, except for certain interest rate swaps and cross currency interest rate swaps.

In cases where hedge accounting is not applied, changes in the fair value of derivatives are recognized in the Statement of Profit and Loss as they arise. Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated, or exercised, or no longer qualifies for hedge accounting. At that time, any cumulative gain or loss on the hedging instrument recognized in equity is retained in equity until the forecasted transaction occurs. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is transferred to the Statement of Profit and Loss for the period. Certain components, such as terms and conditions, embedded in financial instruments or other hosts contracts are accounted for as separate derivatives and carried at fair value. These components are separately accounted for when their risks and characteristics are not closely related to those of the host contract, the host contract itself is not carried at fair value with gains or losses reported in the Statement of Profit and Loss, and where a separate instrument with the same terms as the embedded component would itself meet the definition of a derivative.

Derivatives are initially accounted for and measured at fair value from the date the derivative contract is entered into and are subsequently re-measured to their fair value at the end of each reporting period. The fair Values for forward currency contracts, interest rate swaps are marked to market at the end of each reporting period. The Company adopts hedge accounting for forward and interest rate contracts wherever possible. At the inception of each hedge, there is a formal, documented designation of the hedging relationship.

This documentation includes, inter alia, items such as identification of the hedged item or transaction and the Nature of the risk being hedged. At inception each hedge is expected to be highly effective in achieving an offset of changes in fair value or cash flows attributable to the hedged risk. The effectiveness of hedge Instruments to reduce the risk associated with the exposure being hedged is assessed and measured at the inception and on an ongoing basis. The ineffective portion of designated hedges are recognized immediately In the Statement of Profit and Loss.

When hedge accounting is applied:

For fair value hedges of recognized assets and liabilities, changes in fair value of the hedged assets and liabilities attributable to the risk being hedged, are recognized in the Statement of Profit and Loss and Compensate for the effective portion the symmetrical changes in the fair value of the derivatives

l) Earnings per Share

Basic earnings per share is computed by dividing profit or loss attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. The Company did not have any Potentially dilutive securities in any of the periods presented.

For the purpose of calculation diluted EPS the net profit loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effect of All dilutive potential equity shares.

1. COMPANY OVERVIEW

Jolly Plastic Industries Limited is a plastic trading company. Our company has been in the business for last many years. We specialize in trading of plastic, plastic related materials and PVC. We deal in these products for last many years with our intensive experience. We treat our client's & customers with a friendliness, reliable, courteousness. Moreover, over the years, we have gained the trust of reputed clients by maintaining the quality of products as per the set quality standards of the market

2. BASIS OF PREPARATION OF FINANCIAL STATEMENTS

a) Basis of preparation and compliance with Ind AS

(i) For all periods up to and including the year ended March 31, 2020, the Company prepared its financial statements in accordance with Generally Accepted Accounting Principles (GAAP) in India and complied with the accounting standards (Previous GAAP) as notified under Section 133 of the Companies Act, 2013 read together with Rule 7 of the Companies (Accounts) Rules, 2014, as amended, to the extent applicable, and the presentation requirements of the Companies Act, 2013.

In accordance with the notification dated February 16, 2015, issued by the Ministry of Corporate Affairs, the Company has adopted Indian Accounting Standards (Ind AS) notified under Section 133 read with Rule 4A of Companies (Indian Accounting Standards) Rules, 2015, as amended, and the relevant provisions of the Companies Act, 2013 (collectively, “Ind ASs”) with effect from April 1, 2018 and the Company is required to prepare its financial statements in accordance with Ind ASs for the year ended March 31, 2018.

These financial statements as and for the year ended March 31, 2018 (the “Ind AS Financial Statements”) was the first financial statements, the Company has prepared in accordance with Ind AS.

(ii) The management of the Company has compiled the Special Purpose Comparative Ind AS Financial Statements using the Audited Previous GAAP Financial Statements and made required Ind AS adjustments. The Audited Previous GAAP Financial Statements, and the Special purpose Comparative Ind AS Financial Statements, do not reflect the effects of events that occurred subsequent to the respective dates of approval of the Audited Previous GAAP Financial Statements.

(iii) These financial statements were approved for issue by the Board of Directors on May 27, 2020.

b) Basis of measurement

The Ind AS Financial Statements have been prepared on a going concern basis using historical cost convention and on an accrual method of accounting, except for certain financial assets and liabilities, including derivative.

JOLLY PLASTIC INDUSTRIES LIMITED

Corporate Office: S-524, F/F, School Block Vikas Marg, Shakarpur, Delhi 110092 Reg. Off.: 311, Third Floor, Pooja Complex, Harihar Chowk, Sadar Bazaar Rajkot 360001 CIN NO: L70100GJ1981PLC004932 Email: [email protected] Website: jollyplasticindustriesltd.in Ph: 011-43206720

N O T I C E

Notice is hereby given that the 40[th] Annual General Meeting of the Members of JOLLY PLASTIC INDUSTRIES LIMITED (CIN L70100GJ1981PLC004932) will be held on Thursday 30[th] September, 2021 at 9.00 A.M. at, “311, Pooja Complex, Third Floor, Harihar Chowk, Sadar Bazaar, Rajkot, Gujarat, 360001” to transact the following business:

ORDINARY BUSINESS:-

To receive, consider and adopt the Audited Accounts for the year ended 31[st] March, 2021 and the Auditors and Directors Report thereon.
To appoint Mr. Atul Kumar Agarwal (DIN 00022779), who retires by rotation and being eligible offers himself for re-appointment.
To appoint M/S MOON AND COMPANY, CHARTERED ACCOUNTANTS (FRN 0024693N)), as Statutory Auditor of the Company, whose term for 5 years has been expired, be and hereby again appointed for the term of five years for the F.Y. 2021-2022 to 2025-2026 as the Statutory Auditor, to hold office form the conclusion of this Annual General Meeting, until the conclusion of sixth Annual General Meeting to be held after this meeting and to fix their remuneration as may be determined by the Board of Directors of the Company.”

SPECIAL BUSINESS :-

4. APPOINTMENT OF MR. RAJESH KUMAR VAID AS AN INDEPENDENT DIRECTOR:-

To consider and if thought fit, to pass with or without modification(s), the following resolution as an Ordinary Resolution :

“ RESOLVED THAT pursuant to Section 149, 152, 160, Schedule IV and other applicable provisions, if any, of the Companies Act, 2013 and the Rules made there under, Mr. Rajesh Kumar Vaid (DIN 09201120), who was appointed as an Additional Director of the Company by the Board of Directors with effect from 15[th] June, 2021 and who holds office till the date of the AGM, in terms of Section 161 of the Companies Act, 2013, and in respect of whom the Company has received a requisite notice in writing under Section 160 of the Companies Act, 2013, proposing Mr. Rajesh Kumar Vaid as a candidate for the office of a Director of the Company, be and is hereby appointed as an Independent Director of the Company for the term of 5 years with effect from 30[th] September, 2021 and he shall not be retire by rotation.”

5. APPROVAL FOR RELATED PARTY TRANSACTIONS:-

To consider and, if thought fit, to pass with or without modification, the following resolution as a Special Resolution:

" RESOLVED THAT pursuant to the provisions of Section 188 of the Companies Act,2013 and all other applicable provisions, if any, of the companies Act, 2013 (the Act) read with the companies ( Meetings of board and its powers) Rules, 2014 and read with the regulation 23 of SEBI (Listing

Obligations Disclosure Requirements) Regulations 2015 consent of the members be and is hereby accorded to the Board of directors of the Company to enter into the contracts and/or arrangements with the following related parties and its associate companies as defined under the Act, with respect to sale, purchase or supply of any goods or material, selling or otherwise disposing of or buying, leasing of property of any kind, availing or rendering of any services or any other transactions of whatever nature, giving and taking of ICD’s creation of secured charges with the following Related Parties and its associates on such terms and conditions as may be mutually agreed upon between the Board of Directors of the Company and all the Related Parties up to maximum amount per amount per transaction not exceeding 5 (Five) Crores/-. The Company hereby approves, ratifies and confirms the said agreements/ transactions entered into with the related parties as defined under the act, Rules made there under and SEBI (LODR), regulations with effect from 1st April, 2021:-

S. No.	Name of Related Party	Period Of Contract	Particulars Of Contract	Expected Maximum Value Of per Transaction W.E.F. 1st April, 2021 (In Crores`)
1.	Svam Software Limited	1st April, 2021 to 31st March 2022	Availing or rendering of any service, Selling or otherwise disposing of, or buying, property of any kind, ICDs taken/given and creation of charges, payment of Interest on ICDs etc., or any other material related party transactions.	5.00
2.	Abhinav Leasing and Finance Limited	1st April, 2021 to 31st March 2022	Availing or rendering of any service, Selling or otherwise disposing of, or buying, property of any kind, ICDs taken/given and creation of charges, payment of Interest on ICDs etc., or any other material related party transactions.
3.	Tridev Infraestate Limited	1st April, 2021 to 31st March 2022	Availing or rendering of any service, Selling or otherwise disposing of, or buying, property of any kind, ICDs taken/given and creation of charges, payment of Interest on ICDs etc., or any other material related party transactions.
4.	Aglow Financial Services Private Limited	1st April, 2021 to 31st March 2022	Sale, purchase or supply of any goods or material, availing or rendering of any service, Selling or otherwise disposing of, or buying, property of any kind, ICDs taken/given and creation of charges, payment of Interest on ICDs etc., or any other material related party transactions.

5.	Sarnimal Investment Limited	1st April, 2021 to 31st March 2022	Availing or rendering of any service, Selling or otherwise disposing of, or buying, property of any kind, ICDs taken/given and creation of charges, payment of Interest on ICDs etc., or any other material related party transactions.
6.	Chrishmatic Developers Private Limited	1st April, 2021 to 31st March 2022	Sale, purchase or supply of any goods or material, availing or rendering of any service, Selling or otherwise disposing of, or buying, property of any kind, ICDs taken/given and creation of charges, payment of Interest on ICDs etc., or any other material related party transactions.
7.	Salora Capital Limited	1st April, 2021 to 31st March 2022	Sale, purchase or supply of any goods or material, availing or rendering of any service, Selling or otherwise disposing of, or buying, property of any kind, ICDs taken/given and creation of charges, payment of Interest on ICDs etc., or any other material related party transactions.
9.	Midas Global Securities Limited	1st April, 2021 to 31st March 2022	Availing or rendering of any service, Selling or otherwise disposing of, or buying, property of any kind, ICDs taken/given and creation of charges, payment of Interest on ICDs etc., or any other material related party transactions.
10.	Any other related parties not mentioned herein above and as defined under the act	1st April, 2021 to 31st March 2022	Availing or rendering of any service, Selling or otherwise disposing of, or buying, property of any kind, ICDs taken/given and creation of charges, payment of Interest on ICDs etc., or any other material related party transactions.

RESOLVED FURTHER THAT approval of the members be and is hereby accorded to the Board of Directors (which expression shall include the Audit Committee or any other committee thereof for the time being exercising the powers conferred by this resolution) to approve the transactions and the terms and conditions with any of the aforesaid related party/ies and to take such steps as may be necessary for giving effect to this resolution and to settle all questions, difficulties or doubts that may arise in this regard at any stage without requiring the Board to secure any further consent or approval of the Members of the Company to the end and intent that the

Members shall be deemed to have given their approval thereto expressly by the authority of this resolution for the purpose of giving effect to this Resolution.”

By the order of Board of directors Jolly Plastic Industries limited

Place: Delhi Braj Mohan Singh Date: 03.09.2021 Managing Director

NOTES:-

1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE ANNUAL GENERAL MEETING (THE MEETING / AGM) IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF / HERSELF, AND THE PROXY NEED NOT BE A MEMBER OF THE COMPANY.

2. THE INSTRUMENT APPOINTING A PROXY SHOULD, HOWEVER, BE DEPOSITED AT THE REGISTERED OFFICE OF THE COMPANY NOT LESS THAN FORTY EIGHT HOURS BEFORE THE COMMENCEMENT OF THE MEETING. A PROXY FORM FOR THE MEETING IS ATTACHED TO THIS NOTICE.

3. A PERSON CAN ACT AS PROXY ON BEHALF OF NOT EXCEEDING FIFTY (50) MEMBERS AND HOLDING IN AGGREGATE NOT MORE THAN TEN (10) PER CENT OF THE TOTAL SHARE CAPITAL OF THE COMPANY CARRYING VOTING RIGHTS. A MEMBER, HOLDING MORE THAN TEN (10) PER CENT OF THE TOTAL SHARE CAPITAL OF THE COMPANY CARRYING VOTING RIGHTS, MAY APPOINT A SINGLE PERSON AS PROXY AND SUCH PERSON SHALL NOT ACT AS PROXY FOR ANY OTHER MEMBER.

Register of members and share transfer books will be closed from Friday 24[th] September, 2021 to Thursday 30[th] September, 2021 (both the days inclusive).
Members are requested to please notify immediately any change in their addresses to the company.
Members/proxies should bring the attendance slip duly filled in for attending the meeting.
Mr. Amit Kumar (M. No. 518735) Chartered Accountants in whole time practice, has been appointed as Scrutinizer for the purpose of Postal Ballot Process.
Shareholders seeking any information with regard to accounts are requested to write well in advance so as to reach the company at least 7 days prior to the annual general meeting to enable the management to keep the information ready at the AGM.
The Member Are Requested To:-
a. Intimate changes if any in their address to the company or to the Registrar and Share transfer agent of the company, Skyline Financial Services (P) ltd. At D-153A, Okhla Industrial Area, Phase-I, Delhi 110020, Ph-011-30857575.
b. Quote folio number in all their correspondence with the company.
c. Bring their copies of annual report including attendance slip at the venue for the AGM.
Member holding shares in physical form are requested to lodge share transfer, transmission and intimate changes, if any, in their registered address, bank account and mandate details, residential status etc. Quoting their folio number(s) to company’s share transfer agent.
Corporate members intending to send their authorized representatives are requested to send a duly certified copy of the Board resolution authorizing the representatives to attend and vote at the general meeting.

EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013

ITEM NO. 4

The Company had, pursuant to the provisions of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015, appointed Mr. Rajesh Kumar Vaid, as Independent Directors at various times, in compliance with the requirements of the regulations. Pursuant to the provisions of section 149 of the Act, which came in to effect from April 1, 2014, every listed public company is required to have at least one-third of the total number of directors as independent directors, who are not liable to retire by rotation.

Mr. Rajesh Kumar Vaid, non-executive directors of the Company, has given a declaration to the Board that they meet the criteria of independence as provided under section 149(6) of the Act. In the opinion of the Board, each of these directors fulfill the conditions specified in the Act and the Rules framed there under for appointment as Independent Director and they are independent of the management.

In compliance with the provisions of section 149 read with Schedule IV of the Act, the appointment of these directors as Independent Directors is now being placed before the Members for their approval.

ITEM NO. 5

Pursuant to Section 188 of the Companies Act, 2013, the Company can enter into transactions which are in the ordinary course of business and/or are on arm’s length basis. Transactions that do not satisfy these criteria can be carried out only with the approval of the shareholders accorded by way of a special resolution. Though all the transactions with the related parties mentioned under the resolution in Item No. 3 are in the ordinary course of business and are at arm’s length basis. As per Regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has made it mandatory that all material Related Party Transactions (i.e., the transaction/transactions to be entered into individually or taken together with previous transactions during a financial year, exceeds ten percent of the annual consolidated turnover of the company as per the last audited financial statements of the company) shall require approval of the shareholders by way of a special resolution. The Audit Committee and the Board of Directors of the Company in their meetings held on 10[th] November, 2020 have approved the transactions given in Item No. 5 of the Notice. However, since these transactions, though may be on arm’s length basis and also may be in the ordinary course of business, yet as an abundant caution, it is proposed to seek approval of members by passing a Special Resolution pursuant to Section 188 read with rules made there under and as per Regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Nature of Interest of Related parties in the Company is given below:-

S. No.	Name Of Related Party	Nature Of Interest Or Concern
1.	Svam Software Limited	Mr. Sudhir Kumar Agarwal, Director in the Svam Software Limited, who is relative of Mr. Atul kumar Agarwal who is director in Abhinav

		Leasing and Finance Limited.
2.	Abhinav Leasing and Finance Limited	Mr. Atul Kumar Agarwal is Common Directors in Abhinav Leasing and Finance Limited and Jolly Plastics Industries Limited.
3.	Tridev Infraestates Limited	Mr. Atul Kumar Agarwal and Mrs. Mamta Agarwal are Common Directors in Midas Global Securities Limited and Abhinav Leasing and Finance Limited.
4.	Aglow Financial Services Private Limited	Mr. Sudhir Kumar Agarwal, Director in the Svam Software Limited, who is relative of Mr. Atul kumar Agarwal who is director in Aglow Financial Services Private Limited.
5.	Sarnimal Investment Limited	Mr. Sudhir Kumar Agarwal, Director in the Svam Software Limited, who is also director in Sarnimal Investment Limited.
6.	Chrishmatic Developers Private Limited	Mr. Sudhir Kumar Agarwal, Director in the Svam Software Limited, who is also director in Chrishmatic Developers Private Limited
7.	Salora Capital Limited	Mr. Sudhir Kumar Agarwal, Director in the Svam Software Limited, who is also director in Salora Capital Limited
9.	Midas Global Securities Limited	Mr. Sudhir Kumar Agarwal, Director in the Svam Software Limited, who is relative of Mr. Atul kumar Agarwal who is director in Midas Global Securities Limited.
Place: Delhi Date: 03.09.2021

VOTING THROUGH ELECTRONIC MEANS:

In terms of Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules, 2014 (including any statutory modification or reenactment thereof for the time being in force), listed companies are required to provide members with the facility to exercise their right to vote at the Annual General Meeting (AGM) through electronic means. The Company has availed the services of Central Depository Services Limited (CDSL) for providing the necessary e-voting platform to the members of the Company:

The Board of Directors has appointed Mr. Amit Kumar (M. No. 518735) Chartered Accountant in whole time Practice as the Scrutinizer for conducting the e-voting process in accordance with law and in a fair and transparent manner. The Scrutinizer shall within a period not exceeding three (3) working days from the conclusion of e-voting period unblock the votes in the presence of at least two (2) witnesses not in the employment of the Company and make a Scrutinizer’s Report of the votes cast in favor or against, if any, and submit it forthwith to the Managing Director and/or Chartered Accountant of the Company.

The instructions for members for e-voting are as under:

1) The remote e-voting period begins on Monday , 27[th] September, 2021 (9:00 A.M.) and ends on Wednesday, 29[th] September, 2021 (5:00 P.M.). During this period shareholders’ of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off date (record date) 17[th] September, 2021 may cast their vote electronically. The e-voting module shall be disabled by CDSL for voting thereafter.

The Company has engaged Central Depository Services (India) Limited ("CDSL") to offer e- voting facility to all its Members to enable them to cast their vote electronically. This notice is being sent to all the Members, whose names appear in the Register of Members / Records of Depositories as on the close of working hours on 3[rd] September, 2021 i.e. the cut-off date. Voting rights will be reckoned on the paid-up value of the shares registered in the name of the members as on the cut-off date. E-voting is optional for Members. The Notice of the Annual General Meeting is sent electronically to all the shareholders who have registered their email addresses with the Company / Depositories and to the other shareholders by Speed Post / Registered Post / Courier.

2) The shareholders should log on to the e-voting website www.evotingindia.com during the voting period.
3) Click on “Shareholders” tab.
4) Now Enter your User ID
a. For CDSL: 16 digits beneficiary ID,
b. Members holding shares in Physical Form should enter Folio Number registered with the Company.
5) Next enter the Image Verification as displayed and Click on Login.
6) If you are holding shares in De-mat form and had logged on to www.evotingindia.com and voted on an earlier voting of any company, then your existing password is to be used.
7) If you are holding shares in physical form or first time user in case holding shares in Demat form, follow the steps given below:

If you are a first timer user,	follow the steps given below and fill the appropriate boxes:
For Members holding share in Demat From	For Members holding shares in Demat Form and Physical Form
PAN	Enter your 10 digit alpha-numeric *PAN issued by Income Tax Department (In Capital) (Applicable for both demat shareholders as well as physical shareholders) • Members who have not updated their PAN with the Company/Depository Participant are requested to use the first two letters of their name and the 8 digits of the sequence number in the PAN Field. • In case the sequence number is less than 8 digits enter the applicable number of 0's before the number after the first two characters of the name in CAPITAL letters. E.g. If your name is Dinesh Sharma with sequence number 1 then enter RA00000001 in the PAN Field.
DOB#	Enter the Date of Birth (DOB) as recorded in your demat account or in the company records for the said demat account or folio in dd/mm/yyyy format.
Dividend Bank Details#	Enter the Dividend Bank Details as recorded in your demat account or in the Company records for the said demat account or folio. • Please enter the DOB or Dividend Bank Details in order to login. In case both the details are not recorded with the depository or Company please enter the member id/folio number in the Dividend Bank details field.

8) After entering these details appropriately, click on “SUBMIT” tab.
9) Members holding shares in physical form will then directly reach the Company selection screen. However, members holding shares in De-mat form will now reach ‘Password Creation’ menu wherein they are required to mandatorily enter their login password in the new password field. Kindly note that this password is to be also used by the De-mat holders for voting for resolutions of any other company on which they are eligible to vote, provided that company opts for e-voting through CDSL platform. It is strongly recommended not to share your password with any other person and take utmost care to keep your password confidential.
10) For Members holding shares in physical form, the details can be used only for e-voting on the resolutions contained in this Notice.
11) Click on the EVSN of the Jolly Plastic Industries limited on which you choose to vote.
12) On the voting page, you will see “RESOLUTION DESCRIPTION” and against the same the option “YES/NO” for voting. Select the option YES or NO as desired. The option YES implies that you assent to the Resolution and option NO implies that you dissent to the Resolution.
13) Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution details.
14) After selecting the resolution you have decided to vote on, click on “SUBMIT”. A confirmation box will be displayed. If you wish to confirm your vote, click on “OK”, else to change your vote, click on “CANCEL” and accordingly modify your vote.
15) Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify your vote.
16) You can also take out print of the voting done by you by clicking on “Click here to print” option on the Voting page.
17) If De-mat account holder has forgotten the same password then Enter the User ID and the image verification code and click on Forgot Password & enter the details as prompted by the system.
18) Shareholders can also cast their vote using CDSL’s mobile app m-Voting available for android based mobiles. The m-Voting app can be downloaded from Google Play Store. I Phone and Windows phone users can download the app from the App Store and the Windows Phone Store respectively. Please follow the instructions as prompted by the mobile app while voting on your mobile.
19) Non-Individual shareholders (i.e. other than Individuals, HUF, and NRI etc.) and Custodian are required to log on to www.evotingindia.com and register themselves as Corporate.
20) A scanned copy of the Registration Form bearing the stamp and sign of the entity should be emailed to [email protected].

After receiving the login details a Compliance User should be created using the admin login and password. The Compliance User would be able to link the account(s) for which they wish to vote on.

The list of accounts should be mailed to [email protected] and on approval of the accounts they would be able to cast their vote. A scanned copy of the Board Resolution and Power of Attorney (POA) which they have issued in favor of the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify the same.

In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked Questions (“FAQs”) and e-voting manual available at www.evotingindia.com under help section or write an email to [email protected].

21) Pursuant to Section 107 of the Act read with Rule 20 of the Companies (Management and Administration) Rules, 2014, there will not be voting by show of hands on any of the agenda items at the Meeting and poll will be conducted in lieu thereof.

**In terms of SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated December 9, 2020 on e-Voting facility provided by Listed Companies, Individual shareholders holding securities in demat mode are allowed to vote through their demat account maintained with Depositories and Depository Participants. Shareholders are advised to update their mobile number and email Id in their demat accounts in order to access e-Voting facility.

Pursuant to above said SEBI Circular, Login method for e-Voting and joining virtual meetings for Individual shareholders holding securities in Demat mode is given below:

Type of shareholders	Login Method
Individual Shareholders holding Securities in Dmat mode with CDSL	1. Users, who have opted for CDSL Easi / Easiest facility, can hold securities in login through their existing user id and password. Option will Demat mode with CDSL be made available to reach e-Voting page without any further authentication. The URL for users to login to Easi / Easiest arehttps://web.cdslindia.com/myeasi/home/login or visitwww.cdslindia.com and click on Login icon and select New System My easi. 2. After successful login the Easi / Easiest user will be able to see the e-Voting option for eligible companies where the e-voting is in progress as per the information provided by company. On clicking the e-voting option, the user will be able to see e- Voting page of the e-Voting service provider for casting your vote during the remote e-Voting period. Additionally, there is also links provided to access the system of all e-Voting Service Providers i.e. CDSL/NSDL/KARVY/LINKINTIME, so that the user can visit the e-Voting service providers' website directly. 3. If the user is not registered for Easi/Easiest, option to register is available at https://web.cdslindia.com/myeasi/Registration/EasiRegistra tion 4. Alternatively, the user can directly access e-Voting page by providing Demat Account Number and PAN No. from an e- Voting link available on www.cdslindia.com home page. The system will authenticate the user by sending OTP on registered Mobile & Email as recorded in the Demat Account. After successful authentication, user will be able to see the e- Votingoption here the e-votingis inprogress and also able to

Type
of
shareholders

Login Method

Individual
Shareholders
holding Securities
in
Dmat
mode
with CDSL

1. Users, who have opted for CDSL Easi / Easiest facility, can
hold securities in login through their existing user id and
password. Option will Demat mode with CDSL be made
available to reach e-Voting page without any further
authentication. The URL for users to login to Easi / Easiest
arehttps://web.cdslindia.com/myeasi/home/login
or
visitwww.cdslindia.com and click on Login icon and select
New System My easi.
2. After successful login the Easi / Easiest user will be able to see
the e-Voting option for eligible companies where the e-voting
is in progress as per the information provided by company.
On clicking the e-voting option, the user will be able to see e-
Voting page of the e-Voting service provider for casting your
vote during the remote e-Voting period. Additionally, there is
also links provided to access the system of all e-Voting Service
Providers i.e. CDSL/NSDL/KARVY/LINKINTIME, so that the
user can visit the e-Voting service providers' website directly.
3. If the user is not registered for Easi/Easiest, option to register
is
available
at
https://web.cdslindia.com/myeasi/Registration/EasiRegistra
tion
4. Alternatively, the user can directly access e-Voting page by
providing Demat Account Number and PAN No. from an e-
Voting link available on www.cdslindia.com home page. The
system will authenticate the user by sending OTP on
registered Mobile & Email as recorded in the Demat Account.
After successful authentication, user will be able to see the e-
Votingoption here the e-votingis inprogress and also able to

	directly access the system of all e-Voting Service Providers.
Individual Shareholders (holding securities in demat mode) login through their Depository Participants	You can also login using the login credentials of your demat account through your Depository Participant registered with CDSL for e-Voting facility. After Successful login, you will be able to see e-Voting option. Once you click on e-Voting option, you will be redirected to CDSL Depository site after successful authentication, wherein you can see e-Voting feature. Click on company name or e-Voting service provider name and you will be redirected to e-Voting service provider website for casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting.

directly access the system of all e-Voting Service Providers.

Individual
Shareholders
(holding
securities
in
demat
mode)
login
through
their
Depository
Participants

You can also login using the login credentials of your demat
account through your Depository Participant registered with
CDSL for e-Voting facility. After Successful login, you will be able
to see e-Voting option. Once you click on e-Voting option, you
will be redirected to CDSL Depository site after successful
authentication, wherein you can see e-Voting feature. Click on
company name or e-Voting service provider name and you will
be redirected to e-Voting service provider website for casting
your vote during the remote e-Voting period or joining virtual
meeting & voting during the meeting.

Important note: Members who are unable to retrieve User ID/ Password are advised to use Forget User ID and Forget Password option available at abovementioned website.

Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login through Depository i.e. CDSL:

Members facing any technical issue in login can contact CDSL helpdesk by sending a request at [email protected] or contact at 022- 23058738 and 2223058542-43.

GENERAL INSTRUCTIONS:

The remote e-voting period begins on Monday , 27[th] September, 2021 (9:00 A.M.) and ends on Wednesday, 29[th] September, 2021 (5:00 P.M.). During this period shareholders’ of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off date (record date) 17[th] September, 2021 may cast their vote electronically. The e-voting module shall be disabled by CDSL for voting thereafter.
In case you have any queries or issues regarding e-voting, you may refer the Frequently Asked Questions (“FAQs”) and e-voting manual available at www.evotingindia.co.in under help section or write an email to [email protected].
The Notice of the Annual General Meeting are being sent to all the Members, whose names appear in the Register of Members as on cut-off date (record date) i.e. 3[rd] September, 2021 through the mode prescribed under the Companies Act, 2013 and also by E-Mail, wherever registered. The Members may also download a copy of the Notice from the Website of the Company at www. jollyplasticindustriesltd.in
The Members of the Company, holding Equity Shares either in physical form or in dematerialized (demat) form as on 17[th] September, 2021 and not casting their vote electronically, may only cast their vote at the Annual General Meeting. The voting rights of shareholders shall be in proportion to their shareholding of paid up share capital of the Company as on 17[th] September, 2021.
Mr. Amit Kumar (M. No. 518735) Chartered Accountant in Practice has been appointed as the Scrutinizer to scrutinize the e-voting process in a fair and transparent manner. The Scrutinizer shall within a period not exceeding three (3) working days from the conclusion of e-voting period unblock the votes in the presence of at least two (2) witnesses not in the employment of the Company and make a Scrutinizer’s Report of the votes cast in favour or against, if any, and submit it forthwith to the Managing Director and/or Chartered Accountant of the Company.

By the order of Board of directors Jolly Plastic Industries limited

Place: Delhi Braj Mohan Singh Date: 03.09.2021 Managing Director

JOLLY PLASTIC INDUSTRIES LIMITED

ATTENDANCE SLIP

Please complete this Attendance Slip and hand it over at the Entrance of the Hall. Only Members or their Proxies are entitled to be present at the meeting.

Name and Address of the Member Folio No. Client ID No. DP ID No. No. of Shares Held

I hereby record my Presence at the Annual General Meeting of the Company being held on Thursday 30[th] September, 2021 at 9.00 A.M. at 311, Pooja Complex, Third Floor, Harihar Chowk, Sadar Bazaar, Rajkot, Gujarat, 360001 at and at any adjournment thereof.

Signature of the Shareholder Signature of the Proxy

Note: 1. The Copy of Annual Report may please be brought to the Meeting Hall.

Briefcase, Hand Bags etc. are not allowed inside the Meeting Hall.
Please note that no gifts will be distributed at the meeting.

JOLLY PLASTIC INDUSTRIES LIMITED

Form No. MGT-11

Proxy form

[Pursuant to section 105(6) of the Companies Act, 2013 and rule 19(3) of the Companies (Management and Administration) Rules, 2014]

CIN: L70100GJ1981PLC004932 Name of the Company: JOLLY PLASTIC INDUSTRIES LIMITED

Corporate Office: S-524, F/F, School Block Vikas Marg, Shakarpur, Delhi 110092 Reg. Off.: 311, Third Floor, Pooja Complex, Harihar Chowk, Sadar Bazaar Rajkot 360001

Name of Member(s) :

Registered address :

E-mail Id :

Folio No/ Client Id: DP ID :

I/We, being the member (s) of …………. shares of the above named company, hereby appoint

Name : Address : E-mail Id : Signature : or failing him 1. Name : Address : E-mail Id : Signature :

Or failing him	Or failing him
	1. Name :	Address :
	E-mail Id :	Signature :

as my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the Annual General Meeting of the company, to be held on Thursday, 30[th] Day of September, 2021 at 9:00 A.M. at “311, Third Floor, Pooja Complex, Harihar Chowk, Sadar Bazaar Rajkot 360001”and at any adjournment thereof in respect of such resolutions as are indicated below:

S. No.	RESOLUTIONS
	ORDINARY BUSINESS
1	Adoption of Audited Financial Statements for the year ended March 31, 2021.
2	Re-appointment of Mr. Atul Kumar Agarwal (DIN 00022779), retires by rotation, as a Director of the Company.
3	To appoint M/S MOON AND COMPANY, CHARTERED ACCOUNTANTS (FRN 0024693N)) as a statutory auditor.
	SPECIAL BUSINESS
4	Regularization of Additional Director Mr. Rajesh Kumar Vaid, as an Independent Director
5	Approval of Related Party transaction.
Signed this …… day of……… 20……. Signature of shareholder Signature of Proxy holder(s) Affix Revenue Stamp

Note: This form of proxy in order to be effective should be duly Completed and deposited at the Registered Office of the Company, not less than 48 hours before the commencement of the Meeting.

JOLLY PLASTIC INDUSTRIES LIMITED

BALLOT FORM

Name(s) of Shareholder(s) / Beneficial Owner
Including joint-holders, if any :
Registered Address of the Sole /
First named Shareholder :
Registered Folio No. / Client ID No. :
No. of Shares held :
I / we hereby exercise my / our vote in respect of the Resolution / s to be passed through postal ballot for the business stated in the Notice of the Company by sending my / our assent / dissent to the said Resolution by placing Tick( ) mark at the appropriate box below:

S. No .	Resolution Type	Particulars
1.	Ordinary Resolution	Adoption of Audited Financial Statements for the year ended March 31, 2021.
2.	Ordinary Resolution	Re-appointment of Mr. Atul Kumar Agarwal (DIN- 00022779, retires by rotation, as a Director of the Company.
3.	Ordinary Resolution	To appoint M/S MOON AND COMPANY, Chartered Accountants (FRN 0024693N)) as a statutory auditor
4.	Ordinary Resolution	Regularization of Additional Director Mr. Rajesh Kumar Vaid, as an Independent Director
5.	Special Resolution	Approval of Related Party transaction.

Place:

Date: Signature of the Shareholder / Beneficial Owner

AI assistant

Jolly Plastic Industries Ltd. — Annual Report 2021

63327_rns_2021-09-06_e8e66ce2-337b-4e46-95a0-8eb1336cc14f.pdf

JOLLY PLASTIC INDUSTRIES LIMITED

BOARD OF DIRECTORS

AUDITOR

JOLLY PLASTIC INDUSTRIES LIMITED CORPORATE INFORMATION

BOARD OF DIRECTORS

AUDIT COMMITTEE

NOMINATION AND REMUNERATION COMMITTEE

SHAREHOLDER COMMITTEE

SECRETARIAL AUDITORS

STATUTORY AUDITOR

INTERNAL AUDITOR

REGISTRAR AND TRANSFER AGENT

REGISTERED OFFICE

STOCK EXCHANGE

CORPORATE OFFCE

I N D E X

B O A R D R E P O R T

To, The Members Jolly Plastic Industries Limited

MATERIAL CHANGES AND COMMITMENT THAT AFFECT THE COMPANY’S FINANCIAL POSITION

GENERAL INFORMATION OF COMPANY

DIRECTORS

Composition of Board of Directors:-

DETAILS OF DIRECTORS /KMP WHO HAVE APPOINTED OR RESIGNED DURING THE YEAR:

ROTATION OF DIRECTOR

SUBSIDIARY COMPANIES, JOINT VENTURES & ASSOCIATE COMPANIES

CONSOLIDATED FINANCIAL STATEMENT

DEPOSITS

DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY’S OPERATIONS IN FUTURE

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

CAPITAL AND DEBT STRECTURE

INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY

MEETING OF BOARD OF DIRECTORS

INDEPENDENT DIRECTORS

DIRECTORS RESPONSIBILITY STATEMENT

DECLARATION BY INDEPENDENT DIRECTOR

POLICY ON DIRECTOR’S APPOINTMENT AND REMUNERATION

EXPLANATIONS OR COMMENTS BY THE BOARD ON QUALIFICATION, RESERVATION AND ADVERSE REMARK

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENT

COMMITTEE OF BOARD

AUDIT COMMITTEE

The Composition of the Audit Committee and their Attendance at the Meeting:

NOMINATION AND REMUNERATION COMMITTEE

The Composition of the Nomination and Remuneration Committee and Their Attendance at the Meeting:

STAKEHOLDERS RELATIONSHIP COMMITTEE

The Composition of the Stakeholder Relationship Committee and Their Attendance at the Meeting:

BOARD EVALUATION

INDEPENDENT DIRECTOR MEETING

REPORTING OF FRAUDS

RELATED PARTY TRANSACTIONS

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

BUSINESS RISK MANAGEMENT

INDUSTRIAL RELATIONS

VIGIL MECHANISM / WHISTLE BLOWER POLICY

PREVENTION OF INSIDER TRADING

EXTRACT OF ANNUAL RETURN AS ON THE FINANCIAL YEAR ENDED ON 31[ST] March, 2021

SECRETARIAL AUDIT REPORTS

AUDITORS REPORTS

EXPLANATIONS BY BOARD ON QUALIFICATIONS BY STATUTORY AUDITOR, SECRETARIAL AUDITOR

COMPLIANCE WITH SECRETARIAL STANDARD

DISCLOSURES IN RELATION TO THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS ANDDISCLOSURE REQUIREMENTS) REGULATIONS, 2015

CODE OF CONDUCT COMPLIANCE

PARTICULARS OF EMPLOYEES

LISTING WITH STOCK EXCHANGES

ACKNOWLEDGEMENT

CAUTIONARY STATEMENT

FORM NO. AOC-2

As per section 134(3) of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014

i) Conservation of Energy

ii) Technology Absorption

iii) Foreign Exchange Earnings & Outgo

ACKNOWLEDGMENT

Form No. MR-3 SECRETARIAL AUDIT REPORT

For The Financial Year Ended 31[st] March, 2021

The Members, JOLLY PLASTIC INDUSTRIES LIMITED 311, Third Floor, Pooja Complex, Harihar Chowk, Sadar Bazaar Rajkot 360001 (Gujarat)

1. Industry structure and developments

Jolly Plastic Industries Ltd. Annual Report 2021