MFS Intercorp Limited

==> picture [195 x 55] intentionally omitted <==

To, Listing Department, BSE Limited, P.J. Tower, Dalal Street, Fort, Mumbai, 400 001.

Date: 22[nd] July, 2021

Scrip Code: 513721 Scrip Name: MFSINTRCRP

Dear Sir/Madam,

Sub: Submission of Annual Report for the Financial Year 2019-20

Pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are submitting herewith the Annual Report of the Company for the financial year 2019-20 along with the Notice of Annual General Meeting to be held on Wednesday, August 18, 2021. Kindly take note of the same in your record.

Kindly take note of the above and oblige.

For MFS Intercorp Limited

==> picture [94 x 61] intentionally omitted <==

Yunisbhai Sattarbhai Saya Director DIN: 0532276

CIN: L27209DL1986PLC254555 E-mail: [email protected], www.muskanferro.com, Conatct No.: 9712050787 Corporate Office: C-908, Ganesh Glory, Jagatpur Road, Near S.G. Highway, Ahmedabad, 382470, Gujarat

==> picture [162 x 30] intentionally omitted <==

34[th] ANNUAL REPORT

FINANCIAL YEAR – 2019-2020

CORPORATE INFORMATION

Board of Directors

Ramiz Rafikbhai Saya - Non-Executive Independent Director Baldevkumar Savaliya - Non- Executive Independent Director Zeel Kanubhai Kukadiya - Non- Executive Non-Independent Director Yunusbhai Saya - Non-Executive Independent Director

Statutory Auditors

M/s. Rishi Sekhri and Associates Chartered Accountants, Mumbai.

Secretarial Auditor

M/s. S Bhattbhatt & Co., Practicing Company Secretary, Gujarat.

Registrered Office

Ground Floor-18, Omaxe Square Jasola, New Delhi 110025.

Share Transfer Agent

M/S Satellite Corporate Services Private Limited B-302, Sony Apartment, Opp. St. Judge’s High School, Marg, lower off Andheri- Kurla Road, Jarimari, Sakinaka, Mumbai-400072. E Mail: [email protected] PH NO: +91-22-2852 0461/ 28520462

Resolution Professional:

Mrs. Dipti Mehta (Up to 08/07/2021) IP Registration NO. IBBI/IPA-002/IP-N00134/2017-18/10350 201-206, Shiv Smriti Chambers, 2[ND] Floor, 49A, DR. Annie Besant Road, Above Co-operation Bank Worli, Mumbai-400018.

==> picture [162 x 30] intentionally omitted <==

INDEX

==> picture [459 x 241] intentionally omitted <==

----- Start of picture text -----

Sr. No. Contents Page No.
1 BOARD REPORT 03
2 Form No. MGT-9 - EXTRACT OF ANNUAL RETURN 10
3 Form No. MR-3 - SECRETARIAL AUDIT REPORT 16
4 INDEPENDENT AUDITORS REPORT 20
5 BALANCE SHEET AS ON 31.03.2020 26
6 STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31.03.2O2O 27
7 CASH FLOW STATEMENT 28
8 NOTES TO FINANCIAL STATEMENT 29
9 NOTICE FOR THE AGM 33
----- End of picture text -----

BOARD’S REPORT

==> picture [162 x 30] intentionally omitted <==

To, The Members of MFS Intercorp Limited

Pursuant to an application filed by BSE LIMITED before the Hon’ble National Company Law Tribunal, Delhi Bench (“NCLT”) in terms of Section 9 of the Insolvency and Bankruptcy Code, 2016 read with the rule 6 and regulations framed thereunder (“Code”), the NCLT had admitted the application and ordered the commencement of corporate insolvency resolution process (“CIR process” or “CIRP”) of the Company. The Hon’ble NCLT had, pursuant to the Admission Order, appointed an interim resolution professional for the Company (“IRP”) vide its order dated 07[th ] January 2020. In terms of the Admission Order, inter alia, the management of the affairs of the Company was vested in the IRP. On the 08/07/2021 the Hon’ble NCLT Delhi Bench issued an order of withdrawal CIRP against the Corporate Debtor and the company is free from rigorous process of CIRP. Further with effect from Withdrawal order, all the power and duties of Resolution Professional/Interim Resolution Professional Mrs. Dipti Mehta terminated and now vested with the Management of the company.

Your Directors presenting the Board’s Report of your Company together with the Audited Financial Statements for the financial year ended 31[st] March, 2020.

Financial Statements Particulars Total Income Total Expense Profit before Finance Cost and Depreciation Less : Finance Cost Profit before Depreciation Less : Depreciation Profit/(Loss)before Tax Provision for Tax - Current Tax - Deferred Tax Balance of Profit/(Loss)for theyear Earning per equity share: Basic & Diluted(Rs.10/- each)	(Amount in Lakhs)	(Amount in Lakhs)
Particulars	Current Year 2019-20	Previous Year 2018-19
Total Income	--	2.55
Total Expense	10.28	1.94
Profit before Finance Cost and Depreciation	(10.28)	0.61
Less : Finance Cost	--	--
Profit before Depreciation	(10.28)	0.61
Less : Depreciation	--	--
Profit/(Loss)before Tax	(10.28)	0.61
Provision for Tax - Current Tax - Deferred Tax	-- --	-- --
Balance of Profit/(Loss)for theyear	(10.28)	0.61
Earning per equity share: Basic & Diluted(Rs.10/- each)	(0.24)	0.01

Performance Review

During the year company has not generated any income and as a result of that the Company has incurred loss of Rs. 10,28,250/- in 2019-20. In the last year Company has earned profit of Rs.60,756/- in 2018-19.

Dividend

No dividend recommended by the Board of directors for the Financial Year ended 31[st] March, 2020.

Transfer to General Reserve

In view of accumulated losses, no transfer is proposed to be made to Reserves.

Material Changes and Commitments, if any, affecting the Financial Position of the Company

During the period under review, there were no material changes and commitments made by company which affect the financial position of the company. However, during the year BSE Limited had made an application to Hon’ble NCLT New Delhi Bench under Section 9 of IBC 2016 vide Case no. 1936 of 2019 and Hon’ble NCLT New Delhi Bench approved and order to start CIRP against the Corporate Debtor i.e. MFS Intercorp Limited on 07[th] January, 2020.

Significant and Material Orders Passed by the Regulators or Courts

National Company Law Tribunal (NCLT), New Delhi Bench has passed an Order to Initiate CIRP Process against MFS Intercorp Limited on 7[th] of January, 2020 on an Application filed by BSE Limited and in terms of admission of Order, the Management of the affairs of the Company was vested to IRP.

==> picture [162 x 30] intentionally omitted <==

Subsidiary / Associates Companies

The Company does not have any Subsidiary, Joint venture or Associate Company. Hence, statement containing salient features of the financial statement of subsidiaries/associate companies/joint ventures pursuant to first proviso to subsection (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014 under Form AOC-1, is not applicable to the Company.

Adequacy of internal financial controls

During the year the Operation of Company was shut down. There were only a maintenance expenses was incurred. However the Company had in place adequate and effective Internal Financial Controls with reference to financial statements. During the year, such controls were tested and upgraded and no reportable material weaknesses in the design or operation were observed.

Particulars of Loans, Guarantees or Investments

During the year under review, your Company has not directly or indirectly -

Given any loan to any person or other body corporate other than usual advances envisaged in a contract of supply of materials, if any;
Given any guarantee or provided security in connection with a loan to any other body corporate or person; and
acquired by way of subscription, purchase or otherwise, the securities of any other body corporate.

Particulars of Contracts or Arrangements with Related Parties

No related party transaction(s) entered into during the financial year. The Company has not entered into any contract, arrangement or transaction with any related party which could be considered as material as defined under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

AOC-2 pursuant to clause (h) of sub-section (3) of Section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014 is furnished as Annexure –A to this report.

Directors and Key Managerial Personnel 1. Ramiz Rafikbhai Saya 2. Baldevkumar Kishorbhai Savaliya 3. Zeel Kanubhai Kukadiya 4. Yunusbhai Satarbhai Saya	Directors and Key Managerial Personnel 1. Ramiz Rafikbhai Saya 2. Baldevkumar Kishorbhai Savaliya 3. Zeel Kanubhai Kukadiya 4. Yunusbhai Satarbhai Saya
	1. Ramiz Rafikbhai Saya	Director(Non Executive Independent Director)
	2. Baldevkumar Kishorbhai Savaliya	Director(Non Executive Independent Director)
	3. Zeel Kanubhai Kukadiya	Director(Non Executive Non Independent Director)
	4. Yunusbhai Satarbhai Saya	Director(Non Executive Independent Director)

Declaration by Independent Directors

The Company has received necessary declarations from all Independent Directors of the Company confirming that they meet the criteria of independence laid down in Section 149(6) of the Companies Act, 2013 as well as under Regulation 25 and 16(1)(b) of SEBI (LODR) Regulations. There has been no change in the circumstances which may affect their status as independent director during the year.

Board Evaluation

The Board of Directors has carried out an annual evaluation of its own performance, Board committees and Individual Directors pursuant to the provisions of the Act and the Corporate Governance requirements as prescribed by Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations 2015 (“SEBI Listing Regulations”).

The performance of the Board was evaluated by the Board after seeking inputs from all the Directors on the basis of the criteria such as the Board composition and structure, effectiveness of Board processes, information and functioning, etc.

Familiarization Program for the Independent Directors

In compliance with the requirements of SEBI Regulations, 2015, the Company has put in place a familiarization program for the Independent Directors to familiarize them with their role, rights and responsibilities as Directors, the working of the Company, nature of the industry in which the Company operates, business model, etc.

Policy on Directors’ Appointment and Remuneration and other details

The Nomination and Remuneration Committee has laid down the criteria for Directors appointment and remuneration including criteria for determining qualification, positive attributes and independence of a Director. The following attributes/criteria for selection have been laid by the Board on the recommendation of the Committee:

==> picture [162 x 30] intentionally omitted <==

the candidate should possess the positive attributes such as leadership, entrepreneurship, business advisor or such other attributes which in the opinion of the Committee are in the interest of the Company;
the candidate should be free from any disqualification as provided under Sections 164 and 167 of the Companies Act, 2013;
the candidate should meet the conditions of being independent as stipulated under the Companies Act, 2013 and Listing Agreement entered into with Stock Exchanges, in case of appointment as an independent director; and
the candidate should possess appropriate educational qualification, skills, experience and knowledge in one or more fields of finance, law, management, sales, marketing, administration, corporate governance, technical operations, infrastructure or such other areas or disciplines which are relevant for the Company’s business.

Number of Meetings of the Board

During the year under review, Four (4) Meetings of the Board of Directors, were held on 23rd May 2019, 02nd August, 2019, 08th November, 2019, 06th February, 2020.

Extract of Annual Return

As provided under Section 92(3) of the Act, the extract of annual return is given in Annexure - B in the prescribed Form MGT-9, which forms part of this report.

Audit Committee

The Audit Committee of the Company presently comprises of three members being Mr. Ramiz Saya, Mr. Baldevkumar Savaliya and Mr. Zeel Kukadiya. During the year under review there are 4 Audit Committee meetings were held on 23.05.2019, 02.08.2019, 08.11.2019, 06.02.2020.

Nomination and Remuneration Committee

Nomination and Remuneration Committee of the Company presently comprises of three Directors being Mr. Ramiz Rafikbhai Saya, Mr. Baldevkumar Savaliya and Mr. Zeel Kanubhai Kukadiya. During the year under review, there were two meetings were held on 23.05.2019 and 06.02.2020.

Stakeholder Relationship Committee

This committee presently consists of three directors namely, Mr. Ramiz Rafikbhai Saya, Mr. Baldevkumar Kishorbhai Savaliya and Mr. Zeel Kanubhai Kukadiya. During the year under review, there were two meetings were held on 23.05.2019 and 06.02.2020.

Material Changes and Commitments, if any, affecting the Financial position of the Company which have occurred between the end of Financial Year of the Company to which the Financial Statement relate and the date of the Report.

During the period under review, on 7[th] Day of January, 2020, Hon’ble National Company Law Tribunal (NCLT) has passed Order of Initiation of CIRP Process of MFS Intercorp Limited on application of BSE Limited. After that the MFS intercrop Limited has arrange some finance from the investor(s) and pay all the dues to operational creditor as on 06[th] April, 2021. The Hon’ble NCLT New Delhi Bench on 07[th] April, 2021 granted some time to BSE Limited (the applicant) for filing withdrawal application. On 08[th] July, 2021 the Order of Withdrawal of CIRP issued by Hon’ble NCLT New Delhi Bench. On the date of singing the Report the Company is free from Rigorous process of CIRP.

Management Discussion and Analysis Report

In terms of the provisions of Regulation 34 of the SEBI (Listing Obligations and Disclosures Requirements) Regulation 2015, the Management Discussion and Analysis has been given hereunder;

Industry Structure and Developments

During the period the Company was not engaged in any activity and the management is looking for a right opportunity to make the Company operational. However due to this COVID 19 pandemic the management did not grep the right opportunity till time.

Overall Review

Due to scarcity of working capital funds, the Company is not able to perform any business activities. Also, the company is try to find some investor(s) for investment in the company and make the company operationalized. The board also taking a step for cost reduction to the extent feasible. Several cost cutting measures have already been undertaken by the Company.

==> picture [162 x 30] intentionally omitted <==

Risk and Concerns

In the current situation the company is not in working condition so the Risk is nil. The Company's future development would depend upon the commencement of its operational activities.

Internal Controls Systems and their adequacy

The Company is following a proper and adequate system of internal controls, however during the period there were no any material transaction taken place. Also, in the Expenses part the company has taken adequate step for internal control in respect of all its activities. Further all transaction entered into by the Company are fully authorized, recorded and reported correctly.

Financial Performance with Respect to Operational Performance

During the year under review, the Company did not carry out any activity.

Cautionary Note

Certain statements in "Management Discussions and Analysis" section may be forward looking and are stated as required by law and regulations. Many factors, both external and internal, may affect the actual results which could be different from what the Directors envisage in terms of performance and outlook.

Risk Management

The Company has in place a Risk Management Policy pursuant to Section 134 of the Companies Act. It establishes various levels of accountability and overview within the Company, while vesting identified managers with responsibility for each significant risk.

Corporate Social Responsibility (CSR)

The Company does not fall in any of the Criteria of Section 135 of the Companies Act, 2015 read with the Companies (Corporate Social Responsibility Policy) Rules 2014 and hence the company does not require to comply the same.

Safety, Environment and Health

The Company’s commitment to excellence in Health and Safety is embedded in the Company’s core values. The Company has a stringent policy which drives all employees to continuously break new ground safety management for the benefit of people, property, environment and the communities where we operate on sites.

Policy on Prevention, Prohibition and Redressal of Sexual Harassment at Workplace

The Company has zero tolerance for sexual harassment at the workplace and has adopted a Policy on Prevention, Prohibition and Redressal of Sexual Harassment at the Work place, in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules there under. The Policy aims to provide protection to employees at the workplace and prevent and redress complaints of sexual harassment and for matters connected or incidental thereto, with the objective of providing a safe working environment, where employees feel secure. All employees of the Company, those of contractors as well as trainees are covered under this Policy.

No complaint was received from any employee during the financial year 2019-2020 and hence no complaint is outstanding as on 31.03.2020 for redressal.

Vigil Mechanism/ Whistle Blower Policy

There is a Whistle Blower Policy in the Company and that no personnel have been denied access to the Chairman of the Audit Committee. The policy provides for adequate safeguards against victimization of persons who use vigil mechanism.

Code of Conduct

The Board has laid down a code of conduct for board members and senior management personnel of the Company. The code incorporates the duties of independent directors as laid down in the Companies Act, 2013. The said code of conduct is posted on Company’s website (the website is under maintenance). The Board members and senior management personnel have affirmed compliance with the said code of conduct.

Prevention of Insider Trading

The Board has adopted a revised Code of Prevention of Insider Trading based on the SEBI (Prohibition of Insider Trading) Regulations, 2015. The same has been placed on the website of the Company (the website is under maintenance). All the Directors, senior management employees and other employees who have access to the unpublished price sensitive information of the Company are governed by this code. During the year under Report, there has been due compliance with the said code of conduct for prevention of insider trading.

==> picture [162 x 30] intentionally omitted <==

Corporate Governance

As per SEBI LODR, Compliance with the provisions of regulation 17 through 27 and clauses (b) to of sub – regulations 46 and Para C, D and E of schedule V is not mandatory for the time being, in respect of the following class of Companies:

a) Companies having paid –up equity share capital not exceeding Rs. 10 crore and Net Worth not exceeding Rs. 25 Crore, as on the last day of previous financial year;
b) The listed entity which has listed its specified securities on the SME Exchange;

As such our Company falls in the ambit of aforesaid exemption, consequently Corporate Governance does not forms part of the Annual Report for the Financial Year 2019-20. However, the Company is following industry best corporate governance standards.

Human Resources

The human resource plays a vital role in the growth and success of an organization. The Company has maintained cordial and harmonious relations with employees across various locations.

Deposits from Public

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on deposits from public, was outstanding as on the date of the balance sheet.

Conservation of Energy, Technology Absorption, Foreign Exchange Earnings

and Outgo Technology absorption: NIL Foreign Exchange earnings and outgo: NIL

Particulars of Employees and Remuneration

Pursuant to the Rule 5(2) & (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, no employee of the Company was paid remuneration exceeding the prescribed limits, during the financial year 2019-2020.

Share Capital

The paid-up equity share capital of the Company as at 31[st] March, 2020 is Rs. 4,32,49,000. The Company currently has no outstanding shares issued with differential rights, sweat equity or ESOS.

Auditors

Statutory Auditors:

The Statutory Auditors M/s. Rishi Sekhri and Associates, Chartered Accountants, Mumbai (Firm Reg. No. 128216W) hold office until the conclusion of the AGM to be held in the year of 2020. The company reappointed statutory auditor for second term for the period of 3 years up to the Annual General Meeting to be held in the year 2023.

The observations made by the Auditors’ in their Auditors’ Report and the Notes on Accounts referred to in the Auditors’ Report are self-explanatory and do not call for any further comments.

Secretarial Auditors:

Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors of the Company had appointed M/s. S Bhattbhatt & Co. to undertake the Secretarial Audit of the Company for the year ended March 31, 2020. The Secretarial Audit Report is annexed as Annexure C.

Reply of Management on Adverse Remark of Secretarial Auditor in his Secretarial Audit Report.

1. The Company has failed to complied section 203 of the Companies Act 2013 pursuant to appointment of MD/WTD/Manager, Chief Financial Officer and Company Secretary during the period under review. – During the period under review, the company was facing a financial crunch and was looking for new business opportunity. Due to this financial Crunch, the company had gone into CIRP on an application of operational creditor i.e. BSE Limited under Section 9 of IBC 2016, in the month of January, 2020 and all the power was vested with Interim Resolution Professional. On payment of all pending dues, the Company had made a withdrawal application and the same was approved by a Hon’ble NCLT, New Delhi Bench on 08[th] July, 2021. On the date of Signing this Report the Company has appointed Key managerial personnel (“hereinafter KMP”) and complied the Section 203 of the Companies Act, 2013.

==> picture [162 x 30] intentionally omitted <==

The Company has failed to File INC-22A (Active Form) as per Companies Act 2013. – Due to no appointment of KMP, MCA system not allowed to file the Form.
As per section 138 of the Companies Act 2013, the Company is required to appoint Internal Auditor. The Company has not appointed Internal Auditor. – During the period under review, the company was facing a financial crunch and was looking for new business opportunity. Due to this financial Crunch, the company had gone into CIRP on an application of operational creditor i.e. BSE Limited under Section 9 of IBC 2016, in the month of January, 2020 and all the power was vested with Interim Resolution Professional. On payment of all pending dues, the Company had made a withdrawal application and the same was approved by a Hon’ble NCLT, New Delhi Bench on 08[th] July, 2021. So the Company will appoint Internal Auditor for Short period of time.
The Company has not paid the Annual Listing Fees for the period under review. However the same was paid on the date of singing the Report.
During the Audit period the company has not complied the requirement of Regulation 46 & 47 of SEBI (LODR) Regulations, 2015. - During the period under review, the company was facing a financial crunch and was looking for new business opportunity. Due to this financial Crunch, the company had gone into CIRP on an application of operational creditor i.e. BSE Limited under Section 9 of IBC 2016, in the month of January, 2020 and all the power was vested with Interim Resolution Professional. On payment of all pending dues, the Company had made a withdrawal application and the same was approved by a Hon’ble NCLT, New Delhi Bench on 08[th] July, 2021. So the Company will comply the regulations in Short period of time.
As per the provisions of Section 149(1) of the Companies Act, 2013 and regulation under SEBI (LODR) Regulations, 2015, the Company is required to have at least one Women Director on its Board. The Company has not appointed Women Director. - During the period under review, the company was facing a financial crunch and was looking for new business opportunity. Due to this financial Crunch, the company had gone into CIRP on an application of operational creditor i.e. BSE Limited under Section 9 of IBC 2016, in the month of January, 2020 and all the power was vested with Interim Resolution Professional. On payment of all pending dues, the Company had made a withdrawal application and the same was approved by a Hon’ble NCLT, New Delhi Bench on 08[th] July, 2021. So the Company will comply the regulation in Short period of time.
Acknowledgement for sending the notices of the Meeting of the Board and Committees are not maintained by the company. – During the period the Company has sent all the intimation of notice of meeting of Board and Committee to the Respective director. The Acknowledgement for the same will be maintained in short period of time.
The Company has decided not to opt for Corporate Governance Report in compliance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the time being.
The Company has not complied with Regulation 33(1)(d) of SEBI(LODR) Regulations, 2015 related to peer review certificate of Statutory Auditor of the Company. - During the period under review, the company was facing a financial crunch and was looking for new business opportunity. Due to this financial Crunch, the company had gone into CIRP on an application of operational creditor i.e. BSE Limited under Section 9 of IBC 2016, in the month of January, 2020 and all the power was vested with Interim Resolution Professional. On payment of all pending dues, the Company had made a withdrawal application and the same was approved by a Hon’ble NCLT, New Delhi Bench on 08[th] July, 2021. So the Company will comply the regulation in Short period of time.
The company has not maintained the attendance register for Board and committee meeting. – During the period, no Qualified Company Secretary was appointed and all the Secretarial related work was carried out by ordinary accounts person. However the same will be updated in short period of time.
The Company has not signed and maintained the Minutes of Board Meeting, Committee Meeting and AGM Meeting. – The Minutes of Meeting of Board of Director, Committee Meeting and AGM Meeting will be updated in short period of time.
Statutory Registrar as per companies Act 2013 is yet to be updated. – The Company will update the same in short period of time.

==> picture [162 x 30] intentionally omitted <==

Certain event-based E Forms have not been filed by the company in time which were required to be filed with ROC during the audit period – During the period under review, no Qualified Company Secretary was appointed and all the Secretarial Work was carried out by ordinary account person. On the date of signing of this Report, the company appointed Mr. Deepak Khandelwal (M. No.: A31480) Qualified Company Secretary. So all the pending event base e form will be updated in due course.
The Company has not filed the Certificate as Required under Regulations 74(5) of the SEBI (Depositories & Participants) Regulations, 2018 for the Quarter ended June, 2019. However the same was filed on the date of Signing the Report.
The Company has not filed the Related Party Transaction as required under the Regulation 23(9) of SEBI (Listing Obligation and Disclosure Requirements) (Amendments) Regulations 2018 for the half year ended September, 2019 and for the Half year ended March, 2020. – During the period under review, the company was facing a financial crunch and was looking for new business opportunity. Due to this financial Crunch, the company had gone into CIRP on an application of operational creditor i.e. BSE Limited under Section 9 of IBC 2016, in the month of January, 2020 and all the power was vested with Interim Resolution Professional. On payment of all pending dues, the Company had made a withdrawal application and the same was approved by a Hon’ble NCLT, New Delhi Bench on 08[th] July, 2021. So the Company will comply the regulation in Short period of time.
The Company has not filed the Certificate as Required under Regulations 40(9) and 40(10) of SEBI (Listing Obligation of Disclosure Requirements) Regulations, 2015 for the half year ended March, 2020. However the same was filed on the date of Signing the Report.
The Company has not filed the Standalone Audited Financial Result for the Quarter and year ended March, 2020 as required under the Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. - During the period under review, the company was facing a financial crunch and was looking for new business opportunity. Due to this financial Crunch, the company had gone into CIRP on an application of operational creditor i.e. BSE Limited under Section 9 of IBC 2016, in the month of January, 2020 and all the power was vested with Interim Resolution Professional. On payment of all pending dues, the Company had made a withdrawal application and the same was approved by a Hon’ble NCLT, New Delhi Bench on 08[th] July, 2021. However the same was filed on signing this Report.
The Company has not filed the Annual Secretarial Compliance Report as required under the Regulation 24A of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015 for the year ended March, 2020. However the same was filed as on the date of Signing of the Report.

19. The Company has not complied the SEBI Circular “SEBI/HO/DDHS/CIR/P/2018/144” dated 26th November, 2018 related to Disclosure Requirement for Large Entitites. - During the period under review, the company was facing a financial crunch and was looking for new business opportunity. Due to this financial Crunch, the company had gone into CIRP on an application of operational creditor i.e. BSE Limited under Section 9 of IBC 2016, in the month of January, 2020 and all the power was vested with Interim Resolution Professional. On payment of all pending dues, the Company had made a withdrawal application and the same was approved by a Hon’ble NCLT, New Delhi Bench on 08th July, 2021. However the same will be complies in due course.

Cost Auditors:

Your Company does not require to get its cost records audited by the qualified Cost Auditors, in view of non-applicability. No appointment of Cost Auditors has been made.

Directors’ Responsibility Statement

Pursuant to section 134(5) of the Companies Act, 2013, the board of directors, to the best of their knowledge and ability, confirm that:

a) in the preparation of annual accounts for the year ended March 31, 2020, the applicable accounting standards read with requirements set out under Schedule III to the Act, have been followed and there are no material departures from the same;

b) they have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at March 31, 2020 and of the Profit of the Company for the year ended on that date;

==> picture [162 x 30] intentionally omitted <==

c) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) they have prepared the annual accounts on a ‘going concern’ basis;

e) they have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and

f) they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

Acknowledgement

The Board places on record its deep appreciation for the continued support received from various clients, vendors and suppliers and Bankers, Government Authorities, Employees at all levels and Stakeholders, in furthering the interest of the Company.

For and on behalf of the Board of Directors,

Date: 21st July, 2021 Sd/Place: NEW DELHI Yunis Saya Chairman

ANNEXURE – A TO THE BOARD’S REPORT

==> picture [162 x 31] intentionally omitted <==

Form No. AOC-2

(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014)

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 arm’s length transactions under third proviso thereto.

==> picture [508 x 250] intentionally omitted <==

----- Start of picture text -----

(I) Details of contracts or arrangements or transactions NOT at arm’s length basis :
Name(s) of Nature of Duration of the Salient terms of the Date(s) of Amount Date on which the
the related contracts/ Contracts / contracts or approval by paid as special resolution was
party and arrangements arrangements/ Arrangements or the Board advance, if passed in General
nature of / transactions transactions Transactions any Meeting as required
relationship including value, if under first proviso to
any Section 188.
Not Applicable
(II) Details of material contracts or arrangement or transactions at arm’s length basis:
Name(s) of the Nature of Duration of Salient terms of Date(s) of Amount Date on which the
related party and contracts/ Contracts / the contracts or approval by the paid as special resolution
nature of arrangements arrangemen arrangements or Board advances was passed in
relationship / ts / transactions , if any General Meeting as
transactions transaction including the required under First
s value, if any, per proviso to
Annum Section 188.
Not Applicable
----- End of picture text -----

==> picture [162 x 31] intentionally omitted <==

ANNEXURE-B TO THE BOARD’S REPORT

Form No. MGT-9 Extract of Annual Return as on the financial year ended on 31[st] March, 2020 [Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014]

I. Registration and other Details:

CIN	L27209DL1986PLC254555
Registration date	18/11/1980
Name of the Company	MFS INTERCORP LIMITED
Category / Sub-Category of the Company	Company Limited by shares/ Indian Non-Government Company
Address of the registered office and contact details	Ground Floor-18, Omaxe Square, Jasola, New Delhi-110025, Delhi. E Mail: [email protected]
Whether listed company (Yes/No)	Yes
Name, address and contact details of Registrar and Transfer Agent, if any	Satellite Corporate Services Private Limited B-203, Sony Apt., Opp. St. Jude's High School, 90ft Road, Jarimari,Sakinaka,Mumbai-400072.

II. Principle Business Activities of the Company

All the business activities contributing 10% or more of the total turnover of the company shall be stated:-

Sr. No.	Name and Description of main products/services	NIC Code of the Product / service	% to total turnover of the company
	Nil

III. Particulars of holding, subsidiary and Associate Companies:

There is no Holding and/or Subsidiary nor any Associate Company.

IV. Shareholding Pattern (Equity share capital breakup as percentage of Total Equity):

(i) Category-wise Shareholding:

==> picture [495 x 292] intentionally omitted <==

----- Start of picture text -----

A. Category Wise Shareholding
Category Of No. Of Shares held at the beginning of year No. Of Shares held at the end of year %
Shareholders Change
01/04/2019 31/03/2020
Demat Physical Total % of Demat Physical Total % of
Total Total
Share Shares
s
A. Promoters
(1) Indian
(a) Individuals/ HUF 0 0 0 0 0 0 0 0 0.00
(b) Central Govt 0 0 0 0 0 0 0 0 0
(c) State Govt(s) 0 0 0 0 0 0 0 0 0
(d) Bodies Corp. 0 0 0 0 0 0 0 0 0
(e) Banks / FI 0 0 0 0 0 0 0 0 0
(f) Any Other....
Directors 0 0 0 0 0 0 0 0 0
Directors Relatives 0 0 0 0 0 0 0 0 0
Person Acting In 0 0 0 0 0 0 0 0 0
Concern
Sub Total (A)(1): 0 0 0 0 0 0 0 0 0.00
(2) Foreign
(a) NRI Individuals 0 0 0 0 0 0 0 0 0
(b) Other Individuals 0 0 0 0 0 0 0 0 0
----- End of picture text -----*

==> picture [162 x 31] intentionally omitted <==

==> picture [495 x 741] intentionally omitted <==

----- Start of picture text -----

(c) Bodies Corp. 0 0 0 0 0 0 0 0 0
(d) Banks / FI 0 0 0 0 0 0 0 0 0
(e) Any Other.... 0 0 0 0 0 0 0 0 0
Sub Total (A)(2): 0 0 0 0 0 0 0 0 0
Total shareholding of 0 0 0 0 0 0 0 0 0.00
Promoter (A) =
(A)(1)+(A)(2)
B. Public Shareholding
(1) Institutions
(a) Mutual Funds 0 0 0 0 0 0 0 0 0
(b) Banks FI 0 0 0 0 0 0 0 0 0
(c) Central Govt 0 0 0 0 0 0 0 0 0
(d) State Govet(s) 0 0 0 0 0 0 0 0 0
(e) Venture Capital Funds 0 0 0 0 0 0 0 0 0
(f) Insurance Companies 0 0 0 0 0 0 0 0 0
(g) FIIs 0 0 0 0 0 0 0 0 0
(h) Foreign Venture 0 0 0 0 0 0 0 0 0
Capital Funds
(I) Others (Specify)
U.T.I. 0 0 0 0 0 0 0 0 0
Financial Institutions 0 0 0 0 0 0 0 0 0
I.D.B.I. 0 0 0 0 0 0 0 0 0
I.C.I.C.I. 0 0 0 0 0 0 0 0 0
Goverment Companies 0 0 0 0 0 0 0 0 0
State Financial 0 0 0 0 0 0 0 0 0
Corporation
Qualified Foreign 0 0 0 0 0 0 0 0 0
Investor
Any Other 0 0 0 0 0 0 0 0 0
Otc Dealers (Bodies 0 0 0 0 0 0 0 0 0
Corporate)
Private Sector Banks 0 0 0 0 0 0 0 0 0
Sub-Total (B)(1): 0 0 0 0 0 0 0 0 0
(2) Non-Institutions
(A) Bodies Corp.
(i) Indian 2504700 0 2504700 57.91 2501400 0 2501400 57.84 (0.07)
(ii) Overseas 0 0 0 0 0 0 0 0 0
(b) Individuals
(i) Individual shareholders 426950 79720 506670 11.72 420900 73120 494020 11.42 (0.30)
holding nominal share
capital upto Rs. 2 lakh
(ii) Individual 83750 1186680 1270430 29.37 83750 1225680 1309430 30.28 0.91
shareholders holding
nominal share capital in
excess of Rs 2 lakh
(C) Others (Specify)
Unclaimed Or Suspense 0 0 0 0 0 0 0 0 0
Or Escrow Account
IEPF 0 0 0 0 0 0 0 0 0
Llp 0 0 0 0 0 0 0 0 0
NBFC 0 0 0 0 2000 0 2000 0.05 0.05
Foreign Nationals 0 0 0 0 0 0 0 0 0
Qualified Foreign 0 0 0 0 0 0 0 0 0
Investor
Alternate Investment 0 0 0 0 0 0 0 0 0
Fund
N.R.I. 4100 0 4100 0.09 4100 0 4100 0.09 0
Foreign Corporate 0 0 0 0 0 0 0 0 0
Bodies
Trust 0 0 0 0 0 0.00
Hindu Undivided Family 39000 39000 0 0.90 13950 0 13950 0.32 (0.58)
Employee 0 0 0 0 0 0 0 0 0
----- End of picture text -----

==> picture [162 x 31] intentionally omitted <==

==> picture [495 x 138] intentionally omitted <==

----- Start of picture text -----

* Clearing Members 0 0 0 0 0
Depository Receipts 0 0 0 0 0 0 0 0 0
Other Directors & 0 0 0 0 0 0 0 0 0
Relatives
Market Makers 0 0 0 0 05 0 0 0 0
Sub-Total (B)(2): 3019500 1305400 4324900 100 3026100 1298800 4324900 100.00 0.00
Total Public Shareholding 3019500 1305400 4324900 100 3026100 1298800 4324900 100.00 0.00
(B) = (B)(1)+(B)(2)
C. Total shares Held By 0 0 0 0 0 0 0 0 0
Custodian For GDRs &
ADRs
Grand Total (A + B + C) 3019500 1305400 4324900 100 3026100 1298800 4324900 100.00 0
----- End of picture text -----*

==> picture [495 x 225] intentionally omitted <==

----- Start of picture text -----

B. Shareholding of Promoters
Sr. No. Share Holder's Share Holding at the beginning of the year Share Holding at the end of the year
Name
01/04/2019 31/03/2020
No of % of Total % of Shares No. of % of Total % of Shares % change in
Shares Shares of Pledged / Shares Shares of Pledged / shareholding
the Encumbered the Encumbered during the year
Company to total company to total
shares shares
NIL
NIL
C. Change in Promoter's Shareholding:
Sr. No. Share Holder's Name Share Holding at the beginning of the year Cumulative Share Holding at the end of the
year
01/04/2019 31/03/2020
No of Shares % of Total Shares of No. of Shares % change in
the Company shareholding during
the year
NIL
----- End of picture text -----

==> picture [496 x 365] intentionally omitted <==

----- Start of picture text -----

D. Share holding Pattern of top ten Shareholders
Sr. Shareholder’s Name Shareholding at the beginning of Cumulative Shareholding during
No. the year 01.04.2019 the year 31.03.2020
No. of % of total Shares No. of Shares % of total Shares of
Shares of The Company The Company
01 SHARE INDIA SECURITIES LIMITED
Opening Balance 607700 14.05
Shares Bought during the period 0 0.00
Shares sold during the period 0 0.00
Closing Balance 607700 14.05
02 RAMA SHIVA LEASE FINANCE PRIVATE
LTD
Opening Balance 205000 4.74
Shares Bought during the period
Shares sold during the period 0 0.00
Closing Balance 205000 4.74
03 STRATEGIC SHARES SOLUTIONS PVT
LTD
Opening Balance 195000 4.51
Shares Bought during the period
Shares sold during the period 0 0.00
Closing Balance 195000 4.51
04 SWORD EDGE COMMERCIALS LTD
Opening Balance 193500 4.47
Shares Bought during the period
Shares sold during the period 0 0.00
Closing Balance 193500 4.47
05 KAPPAC PHARMA LIMITED
Opening Balance 190300 4.40
Shares Bought during the period
Shares sold during the period 0 0.00
Closing Balance 190300 4.40
----- End of picture text -----

==> picture [162 x 31] intentionally omitted <==

==> picture [496 x 289] intentionally omitted <==

----- Start of picture text -----

06 SUN TECHNO OVERSEAS LIMITED
Opening Balance 150484 3.48
Shares Bought during the period 0 0.00
Shares sold during the period 0 0.00
Closing Balance 150484 3.48
07 SAIANAND COMMERCIAL LIMITED
Opening Balance 187600 4.34
Shares Bought during the period
Shares sold during the period 0 0.00
Closing Balance 187600 4.34
08 SIMPLEX TRADING & AGENCIES LTD
Opening Balance 173100 4.00
Shares Bought during the period 0 0
Shares sold during the period 0 0.00
Closing Balance 173100 4.00
09 INTERFACE FINANCIAL SERVICES LTD
Opening Balance 170196 3.94
Shares Bought during the period
Shares sold during the period 0 0.00
Closing Balance 170196 3.94
10 XO INFOTECH LIMITED
Opening Balance 170000 3.93
Shares Bought during the period
Shares sold during the period 0 0
Closing Balance 170000 3.93
----- End of picture text -----

V. Shareholding of Directors and Key Managerial Personnel: - None of the director and key Managerial personnel holds any shares in the company.

VI. Indebtedness:

Indebtedness of the Company including interest outstanding / accrued but not due for payment:

==> picture [447 x 313] intentionally omitted <==

----- Start of picture text -----

(Amount in Rs)
Secured Loans Unsecured Loans Deposits Total
Particulars Excluding Indebtedness
Deposits
Indebtedness at the beginning of the
financial year (01.04.2019)
i) Principal Amount 0 9,40,81,563 0 0
ii) Interest Due but Not Paid 0 0 0 0
iii) Interest Accrued but not due 0 0 0 0
Total (i + ii + iii) 0 0 0 0
Change in indebtedness during the
financial year
Addition 0 0 0 0
Reduction 0 9,18,95,500 0 0
Net Change 0 9,18,95,500 0 0
Indebtedness at the end of the financial 21,86,063
Year (31.03.2020)
i) Principal Amount 0 0 0 0
ii) Interest Due but Not Paid 0 0 0 0
iii) Interest Accrued but not due 0 0 0 0
Total (i + ii + iii) 0 21,86,063 0 0
----- End of picture text -----

==> picture [162 x 31] intentionally omitted <==

VII. Remuneration Of Directors And Key Managerial Personnel–

A. Remuneration to Managing Director, Whole-time Directors and/or Manager:

==> picture [447 x 249] intentionally omitted <==

----- Start of picture text -----

Sr. Particulars of Remuneration Total Amount (In Rs.)
No.
1. Gross salary
Salary as per provisions contained in section 17(1) of the
Income-tax Act, 1961
(b) Value of perquisites u/s 17(2) Income-tax
Act,1961
(c) Profits in lieu of salary under section 17(3)
There was no remuneration paid to the Managing Director, Whole-
Income- tax Act, 1961
time Director and/or Manager.
2. Stock Option
3. Sweat Equity
4. Commission
- as % of profit
- others, specify.
5. Others
Total (A)
Ceiling as per the Act
----- End of picture text -----

B. Remuneration to other directors:

==> picture [447 x 110] intentionally omitted <==

----- Start of picture text -----

Sr. Particulars of Remuneration Name of Directors Total
No. Amount
1. Non Independent and Independent Directors
There was no remuneration paid to the other
Fee for attending board / committee meetings Directors i.e Independent Directors and other
Commission Non- Executive Directors of the Company.
Others, please specify
Total (1)
----- End of picture text -----

C. Remuneration to Key Managerial Personnel other than MD / MANAGER/ WTD

==> picture [452 x 198] intentionally omitted <==

----- Start of picture text -----

Sr. No. Particulars of Remuneration Key Managerial Personnel
1. Gross salary
Salary as per provisions contained in section17(1)of the
Income-tax Act,1961
There was no Remuneration paid to Key Managerial Personnel
Value of perquisites u/s 17(2) Income-tax Act, 1961 other than MD / Manager/ WTD of the Company.
Profits in lieu of salary under Section 17(3) Income-tax Act,
1961
2. Stock Option
3. Sweat Equity
4. Commission
- As a % of profit
- Others, specify
5. Others, please specify
Total
----- End of picture text -----

==> picture [162 x 31] intentionally omitted <==

VIII. Penalties/Punishment/Compounding Of Offences:

==> picture [460 x 172] intentionally omitted <==

----- Start of picture text -----

Type Section of the Brief description Details of Penalty/ Authority[RD Appeal
Companies Act Punishment/ /NCLT/Court] made. If
Compounding fees any(give
imposed details)
A. Company: Nil
Penalty
Punishment
Compounding
B. Directors: Nil
Penalty
Punishment
Compounding
C. Other Officers in default: Nil
Penalty
Punishment
Compounding
----- End of picture text -----

==> picture [162 x 31] intentionally omitted <==

ANNEXURE – C

FORM NO. MR-3

SECRETARIAL AUDIT REPORT FOR THE FINANCIAL YEAR ENDED 31[ST] MARCH, 2020

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

To, The Members, MFS Intercorp Limited

The Hon’ble NCLT New Delhi Bench vide its ordered dated 07th January, 2020 initiated Corporate Insolvency Resolution Process against the company under Section 9 of IBC 2016 and appointed Mrs. Dipti Mehta as an Interim Resolution Professional to carry out the CIRP process. In terms of Section 17 of the Code, on commencement of the Corporate Insolvency Resolution Process (CIRP), the powers of the Board of Directors of MFS Intercorp Limited stands suspended and the same were being exercised by Mrs. Dipti Mehta. The management of the affairs of MFS Intercorp Limited had vested with Mrs. Dipti Mehta. Further, in terms of SEBI (Listing Obligations and Disclosure Requirements) (Third Amendments) Regulations 2018 dated 31[st] May, 2018, that after the Commencement of Corporate Insolvency Resolution Process (CIRP), the roles and responsibilities shall be fulfilled by Resolution Professional in accordance with sections 17 and 23 of Insolvency and Bankruptcy Code 2016 and as per Regulation 15(2A) and 2(B) of the SEBI (Listing Obligations and Disclosure Requirements) (Third Amendments) Regulations 2018, the provisions specified in Regulations 17, 18, 19, 20 and 21 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 shall not be applicable. The Company has paid all the dues of the applicant i.e. BSE limited and file an Interlocutory application at Hon’ble NCLT for withdrawal of CIRP and the same was approved on 08th July, 2021.

Further, we have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by MFS Intercorp 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 MFS Intercorp Limited’s books, papers, minute books, forms and returns filed and other records maintained by the company and also the information provided by the company, its officers, agents and authorized representatives during the conduct of secretarial audit and as per the explanations 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 31[st] March, 2020 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 MFS Intercorp Limited (“the Company”) for the financial year ended on 31[st] March, 2020, according to the applicable provisions of:

i. The Companies Act, 2013 (‘the Act’) and the rules made there under, as applicable;
ii. The Securities Contract (Regulation) Act, 1956 (‘SCRA’) and the rules made there under;
iii. The Depositories Act, 1996 and the Regulations and Bye-laws framed there under;
iv. 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 (Not Applicable to the Company during audit period);
v. The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’) to the extent applicable to the Company:
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;

==> picture [162 x 31] intentionally omitted <==

C. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009/2018:
(Not Applicable to the Company during audit period);
D. The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 (Not Applicable to the Company during audit period);
E. 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);
F. The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998; (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);
H. The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 / Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014; (Not Applicable to the Company during the audit period);
vi. Other laws specifically applicable to the Company namely –

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

1) Secretarial Standards issued by The Institute of Company Secretaries of India; and
2) The Listing Agreements entered into by the Company with BSE Limited read with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015.

During the period under review, the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, and Standards etc. except that following:-

The Company has failed to complied section 203 of the Companies Act 2013 pursuant to appointment of
MD/WTD/Manager, Chief Financial Officer and Company Secretary during the period under review.

2. The Company has failed to File INC-22A (Active Form) as per Companies Act 2013.

3. As per section 138 of the Companies Act 2013, the Company is required to appoint Internal Auditor. The Company has not appointed Internal Auditor.

4. The Company has not paid the Annual Listing Fees for the period under review. However the same was paid on the date of singing the Report.

5. During the Audit period the company has not complied the requirement of Regulation 46 & 47 of SEBI (LODR) Regulations, 2015.

6. As per the provisions of Section 149(1) of the Companies Act, 2013 and regulation under SEBI (LODR) Regulations, 2015, the Company is required to have at least one Women Director on its Board. The Company has not appointed Women Director.

7. Acknowledgement for sending the notices of the Meeting of the Board and Committees are not maintained by the company.

8. The Company has decided not to opt for Corporate Governance Report in compliance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the time being.

9. The Company has not complied with Regulation 33(1)(d) of SEBI(LODR) Regulations, 2015 related to peer review certificate of Statutory Auditor of the Company.

10. The company has not maintained the attendance register for Board and committee meeting.

==> picture [162 x 31] intentionally omitted <==

11. The Company has not signed and maintained the Minutes of Board Meeting, Committee Meeting and AGM Meeting.

12. Statutory Registrar as per companies Act 2013 is yet to be updated.

13. Certain event-based E Forms have not been filed by the company in time which were required to be filed with ROC during the audit period.

14. The Company has not filed the Certificate as Required under Regulations 74(5) of the SEBI (Depositories & Participants) Regulations, 2018 for the Quarter ended June, 2019. However the same was filed on the date of Signing the Report.

15. The Company has not filed the Related Party Transaction as required under the Regulation 23(9) of SEBI (Listing Obligation and Disclosure Requirements) (Amendments) Regulations 2018 for the half year ended September, 2019 and for the Half year ended March, 2020.

16. The Company has not filed the Certificate as Required under Regulations 40(9) and 40(10) of SEBI (Listing Obligation of Disclosure Requirements) Regulations, 2015 for the half year ended March, 2020. However the same was filed on the date of Signing the Report.

17. The Company has not filed the Standalone Audited Financial Result for the Quarter and year ended March, 2020 as required under the Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

18. The Company has not filed the Annual Secretarial Compliance Report as required under the Regulation 24A of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015 for the year ended March, 2020. However the same was filed as on the date of Signing of the Report.

19. The Company has not complied the SEBI Circular “SEBI/HO/DDHS/CIR/P/2018/144” dated 26[th] November, 2018 related to Disclosure Requirement for Large Entities.

We further report that:

The Board of Directors of the Company is not duly constituted with proper balance of Executive Directors, Non- Executive Directors and Independent Directors.

We further report that there are adequate system and processes in the company commensurate with size and operation of the Company to monitor and ensure the Compliance with applicable laws, rules, regulation and guidelines.

We further report that during the audit period there were no instances of

a) Public / Rights / Debentures / Sweat Equity b) Redemption / Buy Back of Securities c) Merger / Amalgamation / Re-construction etc. d) Foreign Technical Collaboration / Equity Participation.

For S Bhattbhatt & Co. Practicing Company Secretaries

Sd/-

Place: Vadodara Date: 19-07-2021

Suhas Bhattbhatt M.No.: A11975, COP: 10427 UDIN: A011975C000656784

Note: This report is to be read with my letter of same date that is annexed as Annexure I and forms an integral part of this report.

==> picture [162 x 31] intentionally omitted <==

Annexure I

To, The Members, MFS Intercorp Limited

My report of even date is to be read along with this letter:

Maintenance of secretarial records is the responsibility of management of the Company. My responsibility is to express an opinion on these secretarial records based on my audit.
I have followed the audit practices and processes 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. I believe that the processes and practices, I followed to provide a reasonable basis for my opinion.
I have not verified the correctness and appropriateness of financial records and books of accounts of the company.
Wherever required, I 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 and regulations, standards is the responsibility of the management. My examination was limited to the verification of procedures on test basis.
The Secretarial Audit Report is neither an assurance as to the future viability.

For S Bhattbhatt & Co.

Practicing Company Secretaries

Sd/-

Suhas Bhattbhatt

Place: Vadodara Date: 19-07-2021

M. No.: A11975, COP: 10427 UDIN: A011975C000656784

==> picture [162 x 31] intentionally omitted <==

INDEPENDENT AUDITORS’ REPORT

To The Members of MFS Intercorp Limited Report on the Financial Statements

Opinion

We have audited the accompanying standalone financial statements of MFS INTERCORP LIMITED (“the Company”), which comprise the Balance Sheet as at March 31, 2020, 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 then ended, and notes to the financial statements, including a summary of the significant accounting policies and other explanatory information.

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 ( “Act”) in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India including Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Act, of the state of affairs of the Company as at 31[st] March 2020, and its profit, total comprehensive income, its cash flows and the changes in equity for the year ended on that date.

Basis of Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act. Our responsibilities under those standards are further described in the Auditors’ 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 ethical requirements that are relevant to our audit of the standalone financial statements under the provisions of the Act and the rules there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the 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 the matters described below to be the key audit matters to be communicated in our report.

Revenue recognition in view of adoption of Ind AS 115 “Revenue from Contracts with Customers” (new revenue accounting standard)

Revenue recognition is significant audit risk within the Company. Risk exists in determination of transaction price in offmarket transfer of investment by the company. The application of the new revenue accounting standard involves certain key judgments relating to identification of distinct performance obligations, determination of transaction price of the identified performance obligations, the appropriateness of the basis used to measure revenue recognized over a period.

Principal Audit Procedures

Our audit consisted testing of the design and operating effectiveness of the internal controls and substantive testing as follows:
We evaluated the design of internal controls relating to revenue recognition.
We selected sample of Sales transactions and tested the operating effectiveness of the internal control relating to revenue recognition.
We carried out a combination of procedures involving enquiry and observation, re performance and inspection.
We have tested sample of Sale transactions to their respective customer contracts, underlying invoices and related documents.
We have performed cut-off procedures for sample of revenue transactions at year-end in order to conclude on whether they were recognized in accordance with Ind-AS 115.

==> picture [162 x 31] intentionally omitted <==

INFORMATION OTHER THAN THE FINANCIAL STATEMENTS AND AUDITORS’ REPORT THEREON

The Company’s Board of Directors is responsible for the other information. The other information comprises the information included in the Company’s Annual Report, but does not include the Standalone financial statements and our Auditors’ report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

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 financial statements or our knowledge obtained in the 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.

MANAGEMENT’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS

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 state of affairs, profit or loss and other comprehensive income, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Ind AS specified under Section 133 of the Act.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of 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.

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 is also responsible for overseeing the Company’s financial reporting process.

AUDITOR'S RESPONSIBILITY

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.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit.

We also:

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.
Obtain an understanding of internal financial control 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

==> picture [162 x 31] intentionally omitted <==

effectiveness of such controls.

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

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

As required by the Companies (Auditor’s Report ) Order, 2016, issued by the Central Government of India in term of sub-section (11) of section 143 of the Companies Act, 2013, we give in the Annexure “A” a statement on the matters specified in the paragraphs 3 and 4 of the Order, to the extent applicable.

As required by section 143(3) of the Act, 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 purpose of our audit;
b) In our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books
c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account.
d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 and the Companies (Accounting Standards) Amendment Rules, 2016.

==> picture [162 x 31] intentionally omitted <==

e) On the basis of written representations received from the directors as on 31 March, 2020, taken on record by the Board of Directors, none of the directors is disqualified as on 31 March, 2020, from being appointed as a director in terms of Section 164(2) of the Act.
f) 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 derivatives contracts for which there were any material foreseeable losses.
iii) There were no amounts which required to be transferred to the Investor Education and Protection Fund by the Company.

FOR RISHI SEKHRI AND ASSOCIATES , Chartered Accountants

Sd/CA RISHI SEKHRI PARTNER M.NO. 126656 FRN: 128216W UDIN: 21126656AAACQI5134 Place: Mumbai Date: 09[th] July, 2021

ANNEXURE “A” TO THE AUDITORS’ REPORT

==> picture [162 x 31] intentionally omitted <==

The Annexure referred to in paragraph 1 under ‘Report on Other Legal and Regulatory Requirements’ section of Our Report of even date to the members of M/s MFS INTERCORP LIMITED on the accounts of the company for the year ended 31[st] March, 2020.

The company does not have any fixed assets. Hence, clause (i) (a) (b) & (c) are not applicable to the Company.
The company does not have any inventory. Hence, clause (ii) (a) & (b) are not applicable to the Company.
As per information and explanation given to us, the company has not granted loans to parties covered in the register maintained under section 189 of the Companies Act hence clause (iii) (a) to (c) are not applicable to the company.
In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of section 185 and 186 of the Act, with respect to the loans and investments made.
According to the information and explanations given to us, the Company has not accepted any deposits from the public. Therefore, the directives issued by the Reserve Bank of India and the provisions of sections 73 to 76 or any other relevant provisions of the Companies Act and the rules framed there under are not applicable to the Company.
As informed to us, Central government has not prescribed maintenance of cost records under sub-section (1) of section 148 of the Companies Act, in respect of products of the company.
In respect of Statutory dues:
a) As per information & according to explanation given to us, the company is generally regular in depositing statutory dues with the appropriate authorities during the year. 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, 2020 for a period of more than six months from the date on when they become payable
b) As per information & according to explanation given to us, there are no cases of non-deposit with the appropriate authorities of disputed dues of Income-tax, and any other statutory dues with the appropriate authorities during the year.
In our opinion and according to the information and explanations given to us, the Company has not defaulted in the repayment of dues to banks. The Company has not taken any loan either from financial institutions or from the government and has not issued any debentures.
Based upon the audit procedures performed and the information and explanations given by the management, the company has not raised moneys 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.
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.
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 to the Companies Act;
In our opinion, the Company is not a Nidhi Company. Therefore, the provisions of clause 3 (xii) of the Order are not applicable to the Company.
In our opinion, all transactions with the related parties are in compliance with section 177 and 188 of Companies Act, 2013 and the details have been disclosed in the Financial Statements as required by the applicable accounting standards.

==> picture [162 x 31] intentionally omitted <==

Based upon the audit procedures performed and the information and explanations given by the management, the company has not made any preferential allotment or 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.
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 him. Accordingly, the provisions of clause 3 (xv) of the Order are not applicable to the Company and hence not commented upon.
In our opinion, the company is not required to be registered under section 45 IA of the Reserve Bank of India Act, 1934 and accordingly, the provisions of clause 3 (xvi) of the Order is not applicable to the Company and hence not commented upon.

FOR RISHI SEKHRI AND ASSOCIATES , Chartered Accountants

Sd/CA RISHI SEKHRI PARTNER M.NO. 126656 FRN: 128216W UDIN: 21126656AAACQI5134 Place: Mumbai Date: 09[th] July, 2021

==> picture [162 x 31] intentionally omitted <==

Balance Sheet as on 31st March, 2020	Balance Sheet as on 31st March, 2020	Balance Sheet as on 31st March, 2020
ASSETS	Notes	FY 2020	FY 2019
Non-current assets
Property, plant and equipment
Capital work-in-progress		0	0
Intangible assets		0	0
Financial assets
(i) Trade Receivables
(ii) Investments	1	0	5000000
(iii) Loans	2	0	87284000
Income tax assets(net)
Other non-current assets	3	6184501	6184501
Total non-current assets		6184501	98468501
Current assets
Inventories
Financial assets
(i)Trade receivables
(ii)Cash and cash equivalents	4	56102	129397
(iii)Bank balances other than cash and cash equivalents stated above		133.96
(v)Others financial assets		0	0
Total current assets		56235.96	129397
TOTAL ASSETS		6240736.96	98597898
EQUITY AND LIABILITIES EQUITY
Equityshare capital	5	43249000	43249000
Other equity	6	(40066730.04)	(39038480)
Total equity Liabilities
Non-current liabilities
Financial liabilities
(i)Borrowings	7	2186063	94081563
Provisions		0	0
Total non-current liabilities Current Liabilities		0	0
Financial liabilities
(i)Borrowings		0	0
(ii)Tradepayables	8	872404	25187
(iii)Other financial liabilities		0	0
Income tax liabilities(net)		0	0
Provisions		0	0
Other current liabilities	9	0	280628
Total current liabilities		3058467	305815

TOTAL EQUITY AND LIABILITIES		6240736.96	98597898
Significant accounting policies
For Rishi Sekhri & Associates Chartered Accountants CA Rishi Sekhri Partner M. No.126656 FR No.: 128216W UDIN: 21126656AAACQI5134 Place: Mumbai Date: 21st July, 2021		For and on Behalf of The Board Zeel Kukadiya Yunis Saya Director Director

==> picture [162 x 31] intentionally omitted <==

Profit and Loss for the year ended 31st March, 2020

	Notes	FY 2020	FY 2019
Income
Revenue from operations	10	0	255000
Other income	11	0	0
Total Income		0	255000
Expenses
Cost of materials consumed		0	0
Purchases of Stock-in-Trade		0
Changes in inventory of work-in-progress and finishedgoods		0	0
Employee benefit expenses	12	330000	120000
Other expenses	14	698250	72840
Depreciation and amortization		0	0
Finance costs	13	0	1404
Total expenses		1028250	194244
Profit before tax		(1028250)	60756
Tax Expense
(i)Current tax		0	0
(ii)Deferred tax		0	0
Income tax expense
Profit for theyear		(1028250)	60756
Other comprehensive income
Items that will be reclassified subsequently to profit or loss		0	0
Fair value changes on cash flow hedges		0	0
Income tax relating to items that will be reclassified toprofit or loss		0	0
Net other comprehensive income to be reclassified toprofit or loss		0	0
Items that will not be reclassified subsequently toprofit or loss
Re-measurement of defined benefit liability		0	0
Income tax relating to items that will not be reclassified to profit or loss		0	0
Net other comprehensive income not to be reclassified subsequently to profit or loss		0	0
Other comprehensive(loss)/income for theyear		0	0
Total comprehensive income for theyear
Earnings per share: Equityshares ofpar value of Re. 10 each		(0.24)	0.01
		(0.24)	0.01
Diluted(INR)		(0.24)	0.01
Significant accounting policies
For Rishi Sekhri & Associates Chartered Accountants CA Rishi Sekhri Partner M. No.126656 FR No.: 128216W UDIN: 21126656AAACQI5134 Place: Mumbai Date: 21st July, 2021		For and on Behalf of The Board Zeel Kukadiya Yunis Saya Director Director

==> picture [162 x 31] intentionally omitted <==

Cash Flow for the year ended 31st March, 2020

Cash Flow for theyear ended	31st March, 2020
	FY 2020	FY 2019
Cash flow from operating activities
Profit before tax	(1028250)	60756
Adjustments to reconcile profit for the year to net cash flows
Depreciation and amortisation expense	0	0
Bad debts written off	0	0
Loss/(profit)on sale of assets(net)	0	0
Net gain on foreign exchange fluctuations (unrealised)	0	0
Share based compensation expense	0	0
Interest expense	0	0
Interest income	0	0
Operating profit before working capital changes	(1028250)	60756
Movements in working capital:
Increase in trade receivables	0	0
Decrease/(increase)in inventories	0	0
Increase in other assets	0	0
Increase in trade payables, other liabilities and Provisions	566589	(5000)
Cashgenerated from operations
Taxespaid(net of refunds)	0	0
Net cash flow generated from operating Activities	566589	55756
Cash flow from investingactivities
Purchase of fixed assets, including capital work-in- progress,capital advances andpayables for capitalgoods
Proceeds from sale of fixed assets	0	(5000000)
Investments(increase)/Sale	92284000	0
Investment in bank deposits	0	0
Loans increase/paid	(91895500)	(87284000)
Loans repaid bysubsidiaries	0
Interestreceived		0
Net cash flow used in investing activities	388500	92284000
Cash flow from financing activities
Proceeds from issuance of shares	0	0
Repayment of borrowings	0	92355910
Proceeds from short-term borrowings	0	0
Net cash flow generated from financing activities	0	92355910
Net increase/(decrease) in cash and cash Equivalents	73162	127666
Cash and cash equivalents at the beginning of the Year	129397	1731
Cash on hand
Balances with banks
On current accounts
Total cash and cash equivalents	56235	129397
For Rishi Sekhri & Associates Chartered Accountants CA Rishi Sekhri Partner M. No.126656 FR No.: 128216W UDIN: 21126656AAACQI5134 Place: Mumbai Date: 21st July, 2021	For and on Behalf of The Board Zeel Kukadiya Yunis Saya Director Director

==> picture [162 x 31] intentionally omitted <==

NOTES TO FINANCIAL STATEMENT

NOTE 1: FINANCIAL ASSETS- INVESTMENTS

==> picture [481 x 490] intentionally omitted <==

----- Start of picture text -----

Particulars F.Y. 2019-20 F.Y. 2018-19
Unquoted Equity Shares 0 5000000
Total 0 5000000
NOTE 2 : FINANCIAL ASSETS -LOANS
Particulars F.Y. 2019-20 F.Y. 2018-19
Loans to Others:
(Unsecured, Considered Good) 0 87284000
Total 0 87284000
NOTE 3 : OTHER NON-CURRENT ASSETS
Particulars F.Y. 2019-20 F.Y. 2018-19
Pre-Operating Expense 6184501 6184501
Total 6184501 6184501
NOTE 4 : FINANCIAL ASSETS- CASH AND CASH EQUIVALENT
Particulars F.Y. 2019-20 F.Y. 2018-19
Balances with Bank 133.96 158
Cash in hand 56102 129239
Total 56235.96 129397
NOTE 5: EQUITY SHARE CAPITAL
Particulars F.Y. 2019-20 F.Y. 2018-19
A. Authorized: No. Rs. No. Rs.
Equity shares of Rs. 10/- each 5000000 50000000 5000000 50000000
Total 5000000 50000000 5000000 50000000
B. Issued, Subscribed & Fully Paid-up:
Equity shares of Rs. 10/- each 4324900 43249000 4324900 43249000
Total 4324900 43249000 4324900 43249000
----- End of picture text -----

Disclosures:

(i) DETAILS OF SHAREHOLDING IN EXCESS OF 5%

(i)DETAILS OF SHAREHOLDING IN EXCESS OF 5%
Name of Shareholder		F.Y. 2019-20		F.Y. 2018-19
	No.	%	No.	%
SHARE INDIA SECURITIES LIMITED	607700	14.05	607700	14.05

==> picture [162 x 31] intentionally omitted <==

NOTE 6 : OTHER EQUITY

==> picture [464 x 696] intentionally omitted <==

----- Start of picture text -----

Particulars F.Y. 2019-20 F.Y. 2018-19
(a) Capital reserve 0 0
(b) Security Premium 0 0
(C) Retained Earnings ( 40066730.04 ) (39038480)
Total (40066730.04) (39038480)
NOTE 7 : FINANCIAL LIABILITIES-BORROWINGS
Particulars F.Y. 2019-20 F.Y. 2018-19
(a) Unsecured Loan
 Kappac Pharma Limited 813863 813863
 Other party 1372200 93267700
(b) Bank Overdraft 0 0
Total 2186063 94081563
NOTE 8 : FINANCIAL LIABLITIES-TRADE PAYABLES
Particulars F.Y. 2019-20 F.Y.
2018-19
Trade payable: Others 872404 25187
Total 872404 25187
NOTE 9 : OTHER CURRENT LIABILITIES
Particulars F.Y. 2019-20 F.Y.
2018-19
Provisions 0 0
Other Liabilities 0 239377
Tax Provision 0 41251
Total 0 280628
NOTE : 10 REVENUE FROM OPERATIONS
Sr. No Particulars F.Y. 2019-20 F.Y. 2018-19
1 Sale 0 255000
Total 0 255000
NOTE : 11 OTHER INCOME
Sr. Particulars F.Y. 2019-20 F.Y. 2018-19
No
1 Other Income 0 0
Total 0 0
NOTE : 12 EMPLOYMENT BENEFIT EXPENSES
Sr. No Particulars F.Y. 2019-20 F.Y. 2018-19
1 Salaries & Wages 330000 120000
Total 330000 120000
NOTE : 13 FINANCIAL COST Amount in Rs.
Sr. No Particulars F.Y. 2019-20 F.Y. 2018-19
1 Interest Expense 0 0
2 Bank Charges 0 1404
Total 0 1404
----- End of picture text -----

==> picture [162 x 31] intentionally omitted <==

NOTE: 14 OTHER EXPENSES

==> picture [464 x 130] intentionally omitted <==

----- Start of picture text -----

Sr. No Particulars F.Y. 2019-20 F.Y. 2018-19
Annual Custody Fees Depository 39958 34810
Audit Fees 11000 10000
BSE Listing Fees 354000 1180
Misc. Expense 33874 6850
Professional & Legal Fees 102000 20000
ROC Fees 0 0
RTA Expense 157418 0
Total 698250 72840
----- End of picture text -----

NOTE: 15 SIGNIFICANT ACCOUNTING POLICIES:

a) General:
i) Accounting policies not specifically referred to otherwise are in consistence with earlier year and in consonance with generally accepted accounting principles.
ii) Expenses and income considered payable and receivable respectively are accounted for on accrual basis.
b) Valuation of Inventories: The Company does not have any inventory.
c) Fixed assets and depreciation: The Company does not have any fixed assets.
d) Investments: The Company does not have any Investment.
e) Foreign currency Transactions: There is no foreign currency transaction.
f) Retirement Benefits: Provident fund and employees state insurance scheme contribution is not applicable to the company.
g) Taxes on Income:

Current Tax: Provision for Income-Tax is determined in accordance with the provisions of Income-tax Act 1961.

Deferred Tax Provision: Deferred tax is recognized, on timing difference, being the difference between the taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.
Note: 16 Balances of Sundry Debtors, Creditors, Loans and Advances are subject to confirmation and reconciliation.
Note: 17 In the opinion of the Board of directors, the current assets, Loans & advances are approximately of the value stated if realized in the ordinary course of business. The provision of all known liabilities is adequate and not in excess of the amount reasonably necessary.
Note: 18 No remuneration has been paid to the directors during the year.
Note: 19 No related party transaction were carried out during the year.
Note: 20 there is no reportable segment as per the contention of the management.

==> picture [162 x 31] intentionally omitted <==

Note: 21 Basic and Diluted Earnings per share (EPS) computed in accordance with Accounting Standard (AS) 20 “Earning Per Share”.

Particulars	31.03.2020 Rs.	31.03.2019 Rs.
Numerator Profit/ (Loss)after Tax	(1028250)	60756
Denominator Weighted average number of Nos. Equityshares	4324900	4324900
EPS(Basic & Diluted) Numerator/Denominator	(0.24)	0.01

Note: 22

Payment to Auditor’s	2019-20 Rs.	2018-19 Rs.
For Audit	11000	10000
For Company Matters	00	00

Note: 23 previous year figures have been regrouped and re-casted wherever necessary.

For Rishi Sekhri & Associates For and on Behalf of The Board Chartered Accountants CA Rishi Sekhri Zeel Kukadiya Yunis Saya Partner Director Director M. No.126656 FR No.: 128216W UDIN: 21126656AAACQI5134 Place: Mumbai Date: 21st July, 2021

NOTICE

==> picture [162 x 31] intentionally omitted <==

NOTICE IS HEREBY GIVEN THAT THE ANNUAL GENERAL MEETING OF THE MEMBERS OF MFS INTERCORP LIMITED (“COMPANY”), WILL BE HELD ON WEDNESDAY, 18TH AUGUST, 2021 AT 11.00 A.M. THROUGH VIDEO CONFERENCING/ OTHER AUDIO-VISUAL MEANS (OAVM) TO TRANSACT THE FOLLOWING BUSINESS:

Pursuant to an application filed by BSE LIMITED before the Hon’ble National Company Law Tribunal, New Delhi Bench (“NCLT”) in terms of Section 9 of the Insolvency and Bankruptcy Code, 2016 read with the rule 6 and regulations framed thereunder (“Code”), the NCLT had admitted the application and ordered the commencement of corporate insolvency resolution process (“CIR process” or “CIRP”) of the Company. The Hon’ble NCLT had, pursuant to the Admission Order, appointed an interim resolution professional for the Company (“IRP”) vide its order dated 07th January 2020. In terms of the Admission Order, inter alia, the management of the affairs of the Company was vested in the IRP. On the 08/07/2021 the Hon’ble NCLT Delhi Bench issued an order of withdrawal CIRP process against the Corporate Debtor and the company is free from rigorous process of CIRP. Further with effect from Withdrawal order all the power and duties of Resolution Professional/Interim Resolution Professional Mrs. Dipti Mehta has terminated and the Management will handle the affairs of the company.

Ordinary Business:

1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended 31[st] March, 2020, the Reports of the Board of Directors on the working and activities of the Company and the Auditor’s Report thereon.

2. To Appoint a Director in place of Mr. Zeel Kanubhai Kukadiya (DIN-08202282) who retires by rotation and being eligible, offers him-self for re-appointment.

3. To re-appoint Auditors and fix their remuneration and in this regard, to consider and if thought fit, to pass the following resolution as an Ordinary Resolution .

“ RESOLVED THAT pursuant to the provisions of Section 139 and other applicable provisions, if any, of the Companies Act, 2013 as amended from time to time or any other law for the time being in force, as recommended by the Board of Directors of the company, M/s. Rishi Sekhri & Associates, Chartered Accountants (FRN.: 128216W), Mumbai be and are hereby re-appointed as Statutory Auditors of the Company to hold office from the conclusion of this Annual General Meeting (“AGM”) for the year 2019-2020 till the conclusion of Annual General Meeting of the Company to be held in the year 2023 for the Financial year 2022-2023, at such remuneration, as may be mutually agreed between the Board of Directors of the Company and the Auditors.

“ RESOLVED FURTHER THAT any Director of the Company, be and is, hereby empowered and authorized to take such steps, in relation to the above and to do all such acts, deeds, matters and things as may be necessary, proper, expedient or incidental for giving effect to this resolution and to file necessary E forms with Registrar of Companies.”

For and on behalf of the Board of Directors

Place: New Delhi Date: 21[st] July, 2021

Yunis Saya

Director

==> picture [162 x 31] intentionally omitted <==

NOTES:

In view of the continuing COVID-19 pandemic, the Ministry of Corporate Affairs (“MCA”) has vide its circular nos. 14/2020 and 17/2020 dated 8th April, 2020 and 13th April, 2020 respectively, in relation to “Clarification on passing of ordinary and special resolutions by companies under the Companies Act, 2013 and the rules made thereunder on account of the threat posed by Covid-19”, circular no. 20/2020 dated 5th May, 2020 in relation to “Clarification on holding of annual general meeting (AGM) through video conferencing (VC) or other audio-visual means (OAVM)” and Circular no. 02/2021 dated 13th January, 2021 in relation to “Clarification on holding of annual general meeting (AGM) through video conferencing (VC) or other audio-visual means (OAVM) (collectively referred to as “MCA Circulars”) and Securities and Exchange Board of India (“SEBI”) vide its circular no. SEBI/HO/CFD/CMD1/CIR/P/2020/79 dated 12th May, 2020 in relation to “Additional relaxation in relation to compliance with certain provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015- Covid-19 pandemic” and circular no. SEBI/HO/CFD/CMD2/CIR/P/2021/11 dated 15th January, 2021 in relation to “Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 due to the Covid- 19 pandemic” (collectively referred to as “SEBI Circulars”) permitted the holding of the Annual General Meeting (“AGM”) through VC/OAVM, without the physical presence of the members at a common venue. In compliance with the MCA Circulars and SEBI Circulars, the AGM of the members of the Company is being held through VC/OAVM.
Normally-PURSUANT TO THE PROVISIONS OF THE ACT, A MEMBER ENTITLED TO ATTEND AND VOTE AT THE AGM IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF AND THE PROXY NEED NOT BE A MEMBER OF THE COMPANY.

Since this AGM is being held pursuant to MCA Circulars and SEBI Circulars through VC/ OAVM, physical attendance of Members has been dispensed with. Accordingly, the facility for the appointment of proxies by the Members will not be available for the AGM and hence the Proxy Form and Attendance Slip are not annexed to the Notice.

Institutional / Corporate Shareholders (i.e. other than individuals / HUF / NRI etc.) are required to send a scanned copy (PDF/ JPG format) of their Board or governing body Resolution/authentication etc. authorising its representative to attend the AGM through VC / OAVM on their behalf and to vote through remote e-voting. The said Resolution / Authorisation shall be sent to the Scrutinizer by e-mail through their registered e-mail address to [email protected] with a copy marked to [email protected].

4. The Registers of Members and Transfer Books of the Company in respect of the Equity Shares of the Company will remain closed from Tuesday, the 10th August, 2021 to Wednesday, the 18th August, 2021, both days inclusive.

As per the provisions of Section 72 of the Act the facility for making/varying/cancelling nominations is available to individuals holding shares in the Company. Nominations can be made in Form SH-13 and any variation/cancellation thereof can be made by giving notice in Form SH-14, as prescribed under the Companies (Share Capital and Debentures) Rules, 2014. The Forms can be obtained from the Share Department of the Company or Share Transfer Agent or from the Website of the Ministry of Corporate Affairs at www.mca.gov.in.
Members are requested to send all their documents and communications pertaining to shares to Satellite Corporate Services Pvt. Ltd. Share Transfer Agent of the Company at their address at Office No. A/106-107, Dattani Plaza, East West Compound, Andheri Kurls Road, Sated Pool, Sakinaka, Mumbai-400072 (Maharashtra) Telephone No. +91-22-28520461/462 for both physical and Demat segments of Equity Shares.
Members holding shares in the same name under different Ledger Folios are requested to apply for consolidation of such Folios and send the relevant share certificates to Satellite Corporate Services Pvt. Ltd. for their doing the needful.
The Securities and Exchange Board of India (SEBI) has mandated the submission of Permanent Account Number (PAN) by every participant in the securities market. Members holding shares in the electronic form are, therefore, requested to submit their PAN to their Depository Participant(s) with whom they maintain their Demat Accounts. Members holding shares in physical form should submit their PAN details to the Share Department of the Company / Share Transfer Agent.
To prevent fraudulent transactions, members are advised to exercise due diligence and notify the Company of any change in address as soon as possible. The SEBI has made it mandatory for all companies to use the bank account details furnished by the Shareholders/Depositories for depositing of dividends.
In compliance with the aforesaid MCA circulars and SEBI circulars notice of the AGM along with Annual Report 2019-20 is being sent only through electronic mode to those members whose email addresses are registered with the Company / Depositories.
Members attending the AGM through VC / OAVM shall be counted for the purpose of reckoning the quorum under Section 103 of the Act.

==> picture [162 x 31] intentionally omitted <==

As per Regulation 40 of SEBI Listing Regulations, as amended, securities of listed companies can be transferred only in dematerialized form with effect from, 01st April, 2019, except in case of request received for transmission or transposition and re-lodged transfer of securities. Further, SEBI vide its circular no. SEBI/HO/MIRSD/RTAMB/CIR/P/2020/236 dated 2[nd] December, 2020 had fixed 31st March, 2021 as the cut-off date for re-lodgment of transfer deeds and the shares that are relodged for transfer shall be issued only in demat mode. In view of this and to eliminate all risks associated with physical shares and for ease of portfolio management, members holding shares in physical form are requested to consider converting their holdings to dematerialized form. Members can contact the Company or Company’s Registrars and Transfer Agent viz. Satellite Corporate Services Pvt. Ltd.for assistance in this regard.
To support the ‘Green Initiative’, Members who have not yet registered their e-mail addresses are requested to register the same with their Depository Participants (“DP”) in case the shares are held by them in electronic form and with Satellite Corporate Services Pvt. Ltd. in case the shares are held by them in physical form.
In case of joint holders, the Member whose name appears as the first holder in the order of names as per the Register of Members of the Company will be entitled to vote at the AGM.
Members seeking any information about the financial statements or any matter to be placed at the AGM are requested to write to the Company on or before Friday, the 13th August, 2021 through e-mail on [email protected]. The same will be replied by the Company suitably.
Since the AGM will be held through VC / OAVM, the Route Map is not annexed in this Notice.
The meeting shall be deemed to be held at the Registered Office of the Company at Omaxe Square, Ground Floor-18, Jasola, New Delhi, Delhi, 110025.

THE INSTRUCTIONS FOR MEMBERS FOR REMOTE E-VOTING AND JOINING ANNUAL GENERAL MEETING ARE AS UNDER:-

i. In compliance with the provisions of Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and Administration) Rules, 2014 as amended from time to time, and Regulation 44 of the SEBI Listing Regulations, the Company is pleased to provide to the members the facility to exercise their right to vote on resolutions proposed to be considered at the Annual General Meeting (AGM), by electronic means and the business may be transacted through e-Voting Services. For this purpose, the Company has entered into an agreement with National Securities Depository Limited (NSDL) for facilitating voting through electronic means, as the authorized agency. The facility of casting the votes by the members using an electronic voting system from a place other than the venue of the AGM (“remote e-voting”) as well as venue voting on the date of AGM will be provided by NSDL.
ii. The members who have cast their vote by remote e-voting prior to the AGM may attend the AGM but shall not be entitled to cast their vote again.
iii. The remote e-voting period commences on Saturday, the 14th August, 2021 (9:00 AM IST) and ends on Tuesday, the 17th August, 2021 (05:00 PM IST). During this period Members of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off date of Wednesday, the 11th August, 2021 , may cast their vote by remote e-voting. The remote e-voting module shall be disabled by NSDL for voting thereafter. Once the vote on a resolution is cast by the Member, the Member shall not be allowed to change it subsequently. Those Members, who will be present in the AGM through VC/OAVM facility and have not cast their vote on the Resolutions by remote e-voting and are otherwise not barred from doing so, shall be eligible to vote through e-voting system during the AGM.
iv. How do I vote electronically using NSDL e-Voting system?

The way to vote electronically on NSDL e-Voting system consists of “Two Steps” which are mentioned below:

Step 1: Access to NSDL e-Voting system

A) Login method for e-Voting and joining virtual meeting for Individual shareholders holding securities in demat mode.

In terms of SEBI circular 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 Depository 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.

==> picture [162 x 31] intentionally omitted <==

==> picture [392 x 14] intentionally omitted <==

----- Start of picture text -----

Type of shareholders Login Method
----- End of picture text -----

Login method for Individual shareholders holdingsecurities in demat mode isgiven below:	Login method for Individual shareholders holdingsecurities in demat mode isgiven below:	Login method for Individual shareholders holdingsecurities in demat mode isgiven below:
Type of shareholders Login Method

Individual Shareholders holding securities in demat mode with NSDL.	1. 2. 3. 4.	Existing IDeAS user can visit the e-Services website of NSDL Viz. https://eservices.nsdl.com either on a Personal Computer or on a mobile. On the e-Services home page click on the “Beneficial Owner” icon under “Login” which is available under ‘IDeAS’ section , this will prompt you to enter your existing User ID and Password. After successful authentication, you will be able to see e-Voting services under Value added services. Click on “Access to e-Voting” under e-Voting services and you will be able to see e-Voting page. Click on company name or e-Voting service provider name and you will be re-directed to e-Voting service provider website for casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting. If your are not registered for IDeAS e-Services, option to register is available at https://eservices.nsdl.com. Select “Register Online for IDeAS Portal” or click at https://eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp. Visit the e-Voting website of NSDL. Open web browser by typing the following URL: https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile. Once the home page of e- Voting system is launched, click on the icon “Login” which is available under ‘Shareholder/Member’ section. A new screen will open. You will have to enter your User ID (i.e. your sixteen digit demat account number hold with NSDL), Password/OTP and a Verification Code as shown on the screen. After successful authentication, you will be redirected to NSDL Depository site wherein you can see e-Voting page. 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. Shareholders/Members can also download NSDL Mobile App “NSDL Speede” facility by scanning the QR code mentioned below for seamless voting experience.

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. NSDL

==> picture [392 x 15] intentionally omitted <==

----- Start of picture text -----

Login type Helpdesk details
----- End of picture text -----

Depository i.e. NSDL	Depository i.e. NSDL
Login type Helpdesk details

Individual Shareholders holding securities in demat mode with NSDL	Members facing any technical issue in login can contact NSDL helpdesk by sending a request at [email protected] or call at toll free no.: 1800 1020 990 and 1800 22 44 30.

B) Login Method for e-voting and joining virtual meeting for shareholders other than Individual shareholders holding securities in demat mode and shareholders holding securities in physical mode.

==> picture [162 x 31] intentionally omitted <==

How to Log-in to NSDL e-Voting website?

Visit the e-Voting website of NSDL. Open web browser by typing the following URL: https://www.evoting.nsdl.com/either on a Personal Computer or on a mobile.
Once the home page of e-Voting system is launched, click on the icon “Login” which is available under ‘Shareholder/Member’ section.
A new screen will open. You will have to enter your User ID, your Password/OTP and a Verification Code as shown on the screen.

Alternatively, if you are registered for NSDL eservices i.e. IDEAS, you can log-in at https://eservices.nsdl.com/with your existing IDEAS login. Once you log-in to NSDL eservices after using your log-in credentials, click one-Voting and you can proceed to Step 2 i.e. Cast your vote electronically.

Your User ID details are given below:

Manner of holding shares i.e. Demat(NSDL) or Physical	Your User ID is:
a) For Members who hold shares in demat account with NSDL	8 Character DP ID followed by 8 Digit Client ID For example if your DP ID is IN300 and Client ID is 12* then your user ID is IN30012*.
b) For Members holding shares in Physical Form.	EVEN Number followed by Folio Number registered with the company For example if folio number is 001 and EVEN is 101456 then user ID is 101456001****

Password details for shareholders other than Individual shareholders are given below:
a) If you are already registered for e-Voting, then you can use your existing password to login and cast your vote.
b) If you are using NSDL e-Voting system for the first time, you will need to retrieve the ‘initial password’ which was communicated to you. Once you retrieve your ‘initial password’, you need to enter the ‘initial password’ and the system will force you to change your password.
c) How to retrieve your ‘initial password’?
i. If your email ID is registered in your demat account or with the company, your ‘initial password’ is communicated to you on your email ID. Trace the email sent to you from NSDL from your mailbox. Open the email and open the attachment i.e. a .pdf file. Open the .pdf file. The password to open the .pdf file is your 8 digit client ID for NSDL account or folio number for shares held in physical form. The .pdf file contains your ‘User ID’ and your ‘initial password’.
ii. If your email ID is not registered, please follow steps mentioned below in process for those shareholders whose email ids are not registered.
If you are unable to retrieve or have not received the “ Initial password” or have forgotten your password:
a) Click on “Forgot User Details/Password?” (If you are holding shares in your demat account with NSDL) option available on www.evoting.nsdl.com.
b) “Physical User Reset Password?” (If you are holding shares in physical mode) option available on www.evoting.nsdl.com.
c) If you are still unable to get the password by aforesaid two options, you can send a request at [email protected] mentioning your demat account number/folio number, your PAN, your name and your registered address etc.
d) Members can also use the OTP (One Time Password) based login for casting the votes on the e-Voting system of NSDL.
After entering your password, tick on Agree to “Terms and Conditions” by selecting on the check box.
Now, you will have to click on “Login” button.
After you click on the “Login” button, Home page of e-Voting will open.

==> picture [162 x 31] intentionally omitted <==

Step 2: Cast your vote electronically and join General Meeting on NSDL e-Voting system.

How to cast your vote electronically and join General Meeting on NSDL e-Voting system?

After successful login at Step 1, you will be able to see all the companies “EVEN” in which you are holding shares and whose voting cycle and General Meeting is in active status.
Select “EVEN” of company for which you wish to cast your vote during the remote e-Voting period and casting your vote during the General Meeting. For joining virtual meeting, you need to click on “VC/OAVM” link placed under “Join General Meeting”.
Now you are ready for e-Voting as the Voting page opens.
Cast your vote by selecting appropriate options i.e. assent or dissent, verify/modify the number of shares for which you wish to cast your vote and click on “Submit” and also “Confirm” when prompted.
Upon confirmation, the message “Vote cast successfully” will be displayed.
You can also take the printout of the votes cast by you by clicking on the print option on the confirmation page.
Once you confirm your vote on the resolution, you will not be allowed to modify your vote.

General Guidelines for shareholders

Institutional shareholders (i.e. other than individuals, HUF, NRI etc.) are required to send scanned copy (PDF/JPG Format) of the relevant Board Resolution/ Authority letter etc. with attested specimen signature of the duly authorized signatory(ies) who are authorized to vote, to the Scrutinizer by e-mail to [email protected] with a copy marked to [email protected].
It is strongly recommended not to share your password with any other person and take utmost care to keep your password confidential. Login to the e-voting website will be disabled upon five unsuccessful attempts to key in the correct password. In such an event, you will need to go through the “Forgot User Details/Password?” or “Physical User Reset Password?” option available on www.evoting.nsdl.com to reset the password.
In case of any queries, you may refer the Frequently Asked Questions (FAQs) for Shareholders and e-voting user manual for Shareholders available at the download section of www.evoting.nsdl.com or call on toll free no.: 1800 1020 990 and 1800 22 44 30.

Process for those shareholders whose email ids are not registered with the depositories for procuring user id and password and registration of e mail ids for e-voting for the resolutions set out in this notice:

In case shares are held in physical mode please provide Folio No., Name of shareholder, scanned copy of the share certificate (front and back), PAN (self-attested scanned copy of PAN card), AADHAR (self-attested scanned copy of Aadhar Card) by email to [email protected].
In case shares are held in demat mode, please provide DPID-CLID (16 digit DPID + CLID or 16 digit beneficiary ID), Name, client master or copy of Consolidated Account statement, PAN (self-attested scanned copy of PAN card), AADHAR (selfattested scanned copy of Aadhar Card) to [email protected]. If you are an Individual shareholder holding securities in demat mode, you are requested to refer to the login method explained at step 1 (A) i.e. Login method for e-Voting and joining virtual meeting for Individual shareholders holding securities in demat mode .
Alternatively shareholder/members may send a request to [email protected] for procuring user id and password for e- voting by providing above mentioned documents.
In terms of SEBI circular 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 required to update their mobile number and email ID correctly in their demat account in order to access e-Voting facility.

THE INSTRUCTIONS FOR MEMBERS FOR E-VOTING ON THE DAY OF THE AGM ARE AS UNDER:-

The procedure for e-Voting on the day of the AGM is same as the instructions mentioned above for remote e-voting. 2. Only those Members/ shareholders, who will be present in the AGM through VC/OAVM facility and have not casted their vote on the Resolutions through remote e-Voting and are otherwise not barred from doing so, shall be eligible to vote through e-Voting system in the AGM.
Members who have voted through Remote e-Voting will be eligible to attend the AGM. However, they will not be eligible to vote at the AGM.
The details of the person who may be contacted for any grievances connected with the facility for e-Voting on the day of the AGM shall be the same person mentioned for Remote e-voting.

==> picture [162 x 31] intentionally omitted <==

INSTRUCTIONS FOR MEMBERS FOR ATTENDING THE AGM THROUGH VC/OAVM ARE AS UNDER:

Member will be provided with a facility to attend the AGM through VC/OAVM through the NSDL e-Voting system. Members may access by following the steps mentioned above for Access to NSDL e-Voting system . After successful login, you can see link of “VC/OAVM link” placed under “Join General meeting” menu against company name. You are requested to click on VC/OAVM link placed under Join General Meeting menu. The link for VC/OAVM will be available in Shareholder/Member login where the EVEN of Company will be displayed. Please note that the members who do not have the User ID and Password for e-Voting or have forgotten the User ID and Password may retrieve the same by following the remote e-Voting instructions mentioned in the notice to avoid last minute rush.
Members are encouraged to join the Meeting through Laptops for better experience.
Further Members will be required to allow Camera and use Internet with a good speed to avoid any disturbance during the meeting.
Please note that Participants Connecting from Mobile Devices or Tablets or through Laptop connecting via Mobile Hotspot may experience Audio/Video loss due to Fluctuation in their respective network. It is therefore recommended to use Stable Wi-Fi or LAN Connection to mitigate any kind of aforesaid glitches.
Members who would like to express their views or ask questions during the AGM may register themselves as a speaker by sending their request from their registered email address mentioning their name, DP ID and Client ID/folio number, PAN, mobile number at [email protected] from 10th August, 2021 (9.00 AM IST) to 15th August, 2021 (5.00 PM IST). Those Members who have registered themselves as a speaker will only be allowed to express their views/ ask questions during the AGM. The Company reserves the right to restrict the number of speakers depending on the availability of time for the AGM.
Members who need assistance before or during the AGM, can contact NSDL on [email protected]/ 1800-1020990/1800-224-430 or contact Mr. Amit Vishal, Senior Manager – NSDL or Mr. Sagar Ghosalkar, Assistant Manager – NSDL.
The facility of joining the AGM through VC / OAVM shall open 30 minutes before the time scheduled for the AGM and will be available for Members on first-come first-served basis.
v. You can also update your mobile number and e-mail id in the user profile details of the folio which may be used for sending future communication(s).
vi. The voting rights of members shall be in proportion to their share of the paid-up equity share capital of the Company as on the cut-off date of Wednesday, the 11th August, 2021.
vii. Any person holding shares in physical form and non-individual shareholders, who acquires shares of the Company and becomes a Member of the Company after sending of the Notice and holding shares as of the cut-off date, may obtain the login ID and password by sending a request at [email protected]. However, if you are already registered with NSDL for remote e-Voting then you can use your existing User ID and password for casting the vote. If you forgot your password, you can reset your password by using “Forgot User Details/ Password” or “Physical User Reset Password” option available on www.evoting.nsdl.com or call on toll free no. 1800 1020 990 and 1800 224 430. In case of Individual Shareholders holding securities in demat mode and who acquires shares of the Company and becomes a Member of the Company after sending of the Notice and holding shares as of the cut-off date i.e. Wednesday, the 11th August, 2021 may follow steps mentioned below under “Access to NSDL e-Voting system”.
viii. The Members who have cast their vote by remote e-voting prior to the AGM may also attend/participate in the AGM through VC/OAVM but shall not be entitled to cast their vote again.
ix. A person, whose name is recorded in the register of members or in the register of beneficial owners maintained by the depositories as on the cut-off date only shall be entitled to avail the facility of remote e-voting as well as voting at the AGM through VC/OAVM.
x. Mr. Suhas Bhattbhatt, Practicing Company Secretary (Membership No. ACS 11975) has been appointed as the Scrutinizer for providing facility to the members of the Company to scrutinize the voting during the AGM and remote e-voting process in a fair and transparent manner.

==> picture [162 x 31] intentionally omitted <==

OTHER INSTRUCTIONS:

xi. The Chairman of the meeting shall, at the AGM, at the end of discussion on the resolutions on which voting is to be held, allow voting with the assistance of the scrutinizer, by use of “e-voting” for all those members who attend/ participate in the AGM but have not cast their votes by availing the remote e-voting facility.
xii. The Scrutinizer shall after the conclusion of the voting at the general meeting, first count the votes cast at the meeting and thereafter unblock the votes cast through remote e-voting in the presence of at least two witnesses not in the employment of the Company and shall make, not later than 48 hours of the conclusion of the AGM, a consolidated scrutinizer’s report of the total votes cast in favour or against, if any, to the Chairman of the meeting or a person authorized by him in writing, who shall countersign the same and declare the result of the voting forthwith.
xiii. The Results declared along with the report of the Scrutinizer shall be placed on the website of the Company www.muskanferro.com and on the website of NSDL immediately after the declaration of the result, by the Chairman of the meeting or a person authorized by him in writing. The results shall also be immediately forwarded to the Stock Exchanges viz. BSE Limited.

AI assistant

MFS Intercorp Limited — Annual Report 2021

63747_rns_2021-07-22_bf2d2a62-af38-4c42-afa0-e4fe96919f53.pdf

Scrip Code: 513721 Scrip Name: MFSINTRCRP

Sub: Submission of Annual Report for the Financial Year 2019-20

For MFS Intercorp Limited