TECHNOJET CONSULTANTS LIMITED

Registered Address: Admin Office: Neville House, J. N. Heredia Marg, C-1, Wadia International Centre, Ballard Estate, Pandurang Budhkar Marg, Worli, Mumbai 400 001 Mumbai 400 025 Telephone No: 91 2261 8071 Telephone No: 91 22 6662 0000 Fax: 02267495200 Website: www.technojet.in CIN: L74210MH1982PLC027651 E-mail: [email protected]

[th] July, 2020

To, BSE Limited P. J. Towers, Dalal Street, Mumbai – 400 001

Scrip Code: 509917

Dear Sir / Madam,

Sub: Annual Report for the Financial Year 2019-2020 and Notice convening the 38[th] Annual General Meeting of the Company.

Ref.: Regulation 30 and 34 of the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015.

In term of Regulation 30 and 34 of the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015, we submit herewith the soft copy of the Annual Report which comprises of Directors’ Report, Audited Financial Statement, and Auditors’ Report thereon, for the Financials Year ended 31[st] March, 2020, and the Notice convening the 38[th] Annual General Meeting of the Company scheduled to be held on Thursday, 20[th] August, 2020 at 5.00 p.m.

In accordance with the Circular No.17/2020 issued by the Ministry of Corporate Affairs (‘MCA’) dated 13[th ] April, 2020 and Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/79 dated 12[th] May, 2020 issued by the Securities and Exchange Board of India (‘SEBI’) the Notice convening the AGM and the Annual Report for the Financial Year 2019-2020 have been sent only through electronic mode to all the Members whose email id are registered with the Company/Registrar/Depository Participant(s).

You are requested to take the same on record.

Yours faithfully, For Technojet Consultants Limited

Digitally signed by Sugandha Goyal DN: c=IN, o=Personal, postalCode=313001, st=Rajasthan, 2.5.4.20=980fbf9e0555a6a16cd058cd8d1cb8c560eccb4c962.5.4.20=980fbf9e0555a6a16cd058cd8d1cb8c560eccb4c96 9af5fc7460617d81f4d99f, pseudonym=8C909CC0A95271E07DE2D2E55B39D618CE47 pseudonym=8C909CC0A95271E07DE2D2E55B39D618CE47 E4B9, serialNumber=a6036349070913ad5577414d062e9328d10c a5c300488c44e73deae304d58817, cn=Sugandha Goyal Date: 2020.07.28 11:18:39 +05'30'Date: 2020.07.28 11:18:39 +05'30'

Digitally signed by Sugandha Goyal DN: c=IN, o=Personal, postalCode=313001, st=Rajasthan, 2.5.4.20=980fbf9e0555a6a16cd058cd8d1cb8c560eccb4c962.5.4.20=980fbf9e0555a6a16cd058cd8d1cb8c560eccb4c96 Sugandha 9af5fc7460617d81f4d99f, pseudonym=8C909CC0A95271E07DE2D2E55B39D618CE47 E4B9, serialNumber=a6036349070913ad5577414d062e9328d10c Goyal a5c300488c44e73deae304d58817, cn=Sugandha Goyal Date: 2020.07.28 11:18:39 +05'30'Date: 2020.07.28 11:18:39 +05'30' Sugandha Goyal Company Secretary & Compliance Officer

Encl. as above

CC: National Securities Depository Limited Trade World, 4[th] Floor, Kamala Mills Compound, S. Bapat Marg, Lower Parel, Mumbai – 400 013

Central Depository Services (India) Limited Phiroze Jeejeebhoy Towers, 16[th] Floor, Dalal Street, Mumbai – 400 023

KFin Technologies Private Limited Karvy Selenium Tower B, Plot 31 – 32, Gachibowli, Financial District, Nanakramguda, Hyderabad – 500 032

TECHNOJET CONSULTANTS LIMITED ANNUAL REPORT FINANCIAL YEAR 2019-20

CORPORATE INFORMATION

DIRECTORS

J. C. Bham S. Raja Sanjive Arora Bakhtavar A. Pardiwalla D. S. Gagrat

COMPANY SECRETARY & CHIEF FINANCIAL OFFICER

Sugandha Goyal

REGISTERED OFFICE

Neville House, J. N. Heredia Marg Ballard Estate, Mumbai - 400 001.

CORPORATE OFFICE:

C-1, Wadia International Center Pandurang Budhkar Marg, Worli, Mumbai - 400 025. (CIN: L74210MH1982PLC027651) [email protected] Phone: (91) (22) 6662 0000 Fax: 02267495200 Website: www.technojet.in

AUDITORS

M/s. Kalyaniwalla & Mistry LLP

REGISTRAR & TRANSFER AGENT

Corporate Office:

KFin Technologies Private Limited Unit: Technojet Consultants Limited Selenium Building, Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda Hyderabad, Telangana - 500 032, India Telephone number: +91 40 6716 2222 Fax number: +91 40 2342 0814 E-mail: [email protected] Website: www.kfintech.com

Mumbai Office:

KFin Technologies Private Limited Unit: Technojet Consultants Limited 24-B, Raja Bahadur Mansion, Ground Floor, Ambalal Doshi Marg, Behind BSE, Fort, Mumbai 400 001 Tel - 022 - 6623 5454/412/427

Corporate Information ........................................................................ 1 AGM Notice ....................................................................................... 2 Directors’ Report ................................................................................ 10 Secretarial Auditor’s Report ............................................................... 20 Auditor’s Report on Financial Statements .......................................... 23 Financial Statements ........................................................................... 31 Notes to Financial Statements ............................................................. 35 Proxy Form and Attendance Slip........................................................ 55

TECHNOJET CONSULTANTS LIMITED [ CIN: L74210MH1982PLC027651 ]

Registered Off: Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai - 400001 Admin Off: C-1, Wadia International Center, P. Budhkar Marg, Worli, Mumbai - 400025 [Website: www.technojet.in] [Tel Nos: 022 66620000] [Email:[email protected]]

N O T I C E

NOTICE IS HEREBY GIVEN THAT THE THIRTY-EIGHTH (38[th] ) ANNUAL GENERAL MEETING OF THE MEMBERS OF TECHNOJET CONSULTANTS LIMITED WILL BE HELD AT THE ADMINISTRATIVE OFFICE OF THE COMPANY AT C-1, WADIA INTERNATIONAL CENTER, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025 ON THURSDAY, 20[th] AUGUST, 2020 AT 05:00 P.M. TO TRANSACT THE FOLLOWING BUSINESS:

Ordinary Business :

1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2020 together with the Reports of the Board of Directors and the Auditors thereon.

2. To appoint a Director in place of Mrs. Bakhtavar Ady Pardiwalla (DIN:06721889), a Non- Executive Director who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers herself for re-appointment.

3. To consider the re-appointment of the Current Statutory Auditors, M/s. Kalyaniwalla & Mistry LLP, Chartered Accountants (Firm Registration No. 104607W / W100166) as the Statutory Auditors of the Company for the second term and to fix their remuneration and in this regard to consider and, if thought fit, to pass with or without modification(s), the following resolution as an Ordinary Resolution:

“ RESOLVED THAT pursuant to the provisions of Sections 139,141,142 and all other applicable provisions, if any, of the Companies Act, 2013, and the rules made thereunder including any statutory amendment(s) or modification(s) or re-enactment thereof for the time being in force and pursuant to the recommendation of the Audit Committee and the Board of Directors of the Company, the consent of the members of the Company be and is hereby accorded to reappoint M/s. Kalyaniwalla & Mistry LLP, Chartered Accountants (Firm Registration No. 104607W / W100166), as the Statutory Auditors of the Company for the second term of 5 (Five) consecutive years to hold office from the conclusion of this Annual General Meeting (AGM) until the conclusion of the 43rd AGM to be held in the year 2025 at a remuneration determined by the Board of Directors of the Company as per the recommendation of the Audit Committee;

RESOLVED FURTHER THAT any Director or Company Secretary of the Company be and are hereby severally authorized to do all such acts, deeds, matters and things and to take all such steps as may be considered necessary, proper or expedient to give effect to this resolution.”

Special Business:

4. To consider appointment of Mr. Vipul Panchal as the Manager for the Company

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

“ RESOLVED THAT pursuant to the provisions of Sections 2(51), 2(53), 196, 197, 203 and Schedule V of the Companies Act, 2013 ("the Act") read with other applicable provisions of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, including any statutory modifications thereof and in accordance with the approval of the Board of Directors of the Company, consent of the members be and is hereby given to appoint Mr. Vipul Panchal, as the Manager of the Company for a period of five (5) years commencing from February 05, 2020 on such terms and conditions and on such remuneration as may be agreed to between him and the Board of Director.

By Order of the Board of Directors,

For Technojet Consultants Limited

Sugandha Goyal Company Secretary

Date: 24[th] June, 2020 Place: Mumbai

Registered Office: Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai - 400001

Notes:

a. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT PROXY/PROXIES TO ATTEND AND VOTE INSTEAD OF HIMSELF/HERSELF AND SUCH PROXY/PROXIES NEED NOT BE A MEMBER OF THE COMPANY. A person can act as proxy on behalf of a Member upto and not exceeding fifty (50) and holding in the aggregate not more than ten (10) percent of the total share capital of the Company carrying voting rights, then such proxy shall not act as a proxy for any other person or shareholder. The instrument of proxy in order to be effective, should be lodged / deposited at the registered office of the Company, duly completed and signed, not less than 48 hours before the commencement of the meeting (Proxy form is attached herewith). Proxies submitted on behalf of the companies, societies, etc., must be supported by an appropriate resolution/ authority, as applicable.

b. Explanatory Statement, pursuant to Section 102 of the Companies Act, 2013, setting out material facts in respect of Special Business under item no 4 of the Notice, is annexed hereto.

Additional information with respect to re-appointment of the Statutory Auditors of the Company, as proposed under Item No. 3 of this Notice under Ordinary Business, is also provided in the Explanatory Statement.

c. Brief resume of the Director and KMP proposed to be appointed under item no. 2 and 4, nature of their expertise in functional areas, names of Companies in which they hold Directorships and memberships/Chairmanships of Board Committees and shareholding, are provided in ‘ Annexure - I ’

d. In case of joint holders attending the meeting, only such joint holder who is higher in the order of names will be entitled to vote.
e. Members are requested to immediately notify any change of address:
(i) to their Depositary Participants (DPs) in respect of their electronic share accounts, and
(ii) to the Company’s Registrar & Share Transfer Agents (RTA) in respect of their physical share folios, if any, quoting their folio numbers, at their address given below

KFin Technologies Private Limited (Unit: Technojet Consultants Limited) Karvy Selenium Tower B, Plot Nos. 31 & 32, Gachibowli, Financial District Nanakramguda, Hyderabad, Telangana – 500032, India Telephone number: +91 40 6716 2222 Fax number: +91 40 2342 0814 E-mail: einward.ris@kfintech .com Website www.kfintech.com

f. Members holding shares in physical form may avail the facility of nomination in terms of Section 72 of the Companies Act, 2013 by nominating a person, in the prescribed form, to whom their shares in the Company shall vest in the event of their death. The prescribed form can be obtained from the Company’s Office at C-1, Wadia International Center, Pandurang Budhkar Marg, Worli, Mumbai - 400025 or from its RTA at their aforesaid address.

g. As part of the Company’s Green Initiative, the Company may propose to send documents like Notice convening the General Meetings, Financial Statements and Directors’ Report, etc. to the e-mail address provided by the members.

We request the members to be part of the said ‘Green Initiative’ and to register their names for receiving the said documents by electronic mode by mailing us your Registered Folio Number and/or DP ID/Client ID to

the dedicated email address at [email protected] or by doing login at the RTA website [email protected] to register their request.

h. Members intending to require information about the Financial Accounts, to be explained at the Meeting are requested to inform the Company at least a week in advance of their intention to do so, so that the papers relating thereto may be made available.
i. Members/proxies should bring the attendance slip duly filled in for attending the Meeting.
j. Voting through electronic means:
I. In compliance with provisions of Section 108 of the Act, Rule 20 of the Companies (Management and Administration) Rules, 2014 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Amendment Regulations, 2018, the Company provides to its members, the facility to exercise their right to vote on resolutions proposed to be considered at the Thirty-Eight Annual General Meeting (AGM) by electronic means and the business may be transacted through e-Voting Services. The facility of casting the votes by the members using an electronic voting system from a place other than venue of the AGM (“remote e-voting”) will be provided by the RTA of the Company.
II. The facility for voting through ballot paper shall also be made available at the AGM and the members attending the meeting shall be able to exercise their right to vote at the meeting through ballot paper in case they have not casted their vote by remote e-voting.
III. The members who have casted their vote by remote e-voting prior to the AGM may also attend the AGM but shall not be entitled to cast their votes again .
IV. The remote e-voting period commences on Monday, August 17, 2020 (9:00 am) and ends on Wednesday, August 19, 2020 (5:00 pm). During this period, the members of the Company, holding shares either in physical form or in dematerialised form, as on the cut-off date of Friday, August 14, 2020, may cast their vote by remote e-voting. The remote e-voting module shall be disabled for voting by KFin Technologies Private Limited thereafter.
V. Once the vote on a resolution is cast by the member, such member shall not be allowed to change it subsequently.
VI. A person who is not a member as on cut-off date should treat this Notice for information purpose only.
VII. The process and manner for remote e-voting is as under:
A. Member whose email IDs are registered with the Company/DPs will receive an email from KFin Technologies Private Limited informing them of their User-ID and Password. Once the Members receives the email, he or she will need to go through the following steps to complete the e-voting process:
- (i) Launch internet browser by typing the URL: https://evoting.karvy.com (KFin Technologies Private Limited Website)
- (ii) Enter the login credentials (i.e. User ID and password) which will be sent separately. However, if you are already registered with KFin Technologies Private Limited for e-voting, you can use your existing User ID and password for casting your vote. If required, please visit https://evoting.karvy.com or contact toll free number 1-800-3454-001 for your existing password.
- (iii) After entering these details appropriately, click on “LOGIN”.
- (iv) You will now reach password change Menu wherein you are required to mandatorily change your password. The new password shall comprise minimum 8 characters with at least one upper case (AZ), one lower case (az), one numeric (0-9) and a special character (@,#,$,etc.). The system will prompt you to change your password and update your contact details like mobile number, email address, etc. on first login. You may also enter a secret question and answer of your choice to retrieve your password in case you forget it. It is strongly recommended that you do not share your password with any other person and that you take utmost care to keep your password confidential.
- (v) You need to login again with the new credentials.
- (vi) On successful login, the system will prompt you to select the E-Voting Event Number for Technojet Consultants Limited.

(vii) On the voting page enter the number of shares (which represents the number of votes) as on the cutoff date under “FOR/AGAINST” or alternatively, you may partially enter any number in “FOR” and partially in “AGAINST” but the total number in “FOR/AGAINST” taken together should not exceed your total shareholding as on the cut-off date. You may also choose the option “ABSTAIN” and the shares held will not be counted under either head.
(viii) Members holding shares under multiple folios/demat accounts shall choose the voting process separately for each of the folios/demat accounts.
(ix) Voting has to be done for each item of the Notice separately. In case you do not desire to cast your vote on any specific item it will be treated as abstained.
(x) You may then cast your vote by selecting an appropriate option and click on “Submit”.
(xi) A confirmation box will be displayed. Click “OK” to confirm else “CANCEL” to modify. Once you confirm, you will not be allowed to modify your vote. During the voting period, members can login any number of times till they have voted on the Resolution(s).
(xii) Corporate / Institutional Members (i.e. other than Individuals, HUF, NRI, etc.) are also required to send scanned certified true copy (PDF Format) of the Board Resolution / Power of Attorney / Authority Letter, etc., together with attested specimen signature(s) of the duly authorized representative(s), to the Scrutinizer at e-mail ID: [email protected] or [email protected] may also upload the same in the e-voting module in their login. The scanned image of the above mentioned documents should be in the naming format “Corporate Name_EVENT NO”
B. In case a member receives physical copy of the Notice of AGM [for members whose email IDs are not registered or have requested the physical copy]:
a) Initial password is provided in below format at the bottom of the Attendance Slip for the AGM:

USER ID PASSWORD

  - b) Please follow all steps from Sl. No. (i) to Sl. No. (xii) above to cast vote.

VIII. In case of any query pertaining to e-voting, please visit Help & FAQ’s section available at KFin Technologies Private Limited website https://evoting.karvy.com
IX. If the member is already registered with KFin Technologies Private Limited e-voting platform, then he can use his existing User ID and password for casting the vote through remote e-voting.
X. 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.
XI. The voting rights of members shall be in proportion to their shares of the paid up equity share capital of the Company as on the cut-off date of Friday, August 14, 2020.
XII. Any person who becomes a member of the Company after dispatch of the Notice of the Meeting and holding shares as on the cut-off date i.e. Friday, August 14, 2020 may obtain the User ID and password in the manner as mentioned below:
a) If the mobile number of the member is registered against Folio No. / DP ID Client ID, the member may send SMS: MYEPWD E-Voting Event Number + Folio No. or DP ID Client ID to 9212993399

Example for NSDL: MYEPWD IN12345612345678 Example for CDSL: MYEPWD 1402345612345678 Example for Physical: MYEPWD XXXX1234567890

b) If e-mail address or mobile number of the member is registered against Folio No. / DP ID Client ID, then on the home page of https://evoting.karvy.com, the member may click “Forgot Password” and enter Folio No. or DP ID Client ID and PAN to generate a password.

c) Member may call KFin Technologies Private Limited toll free number 1-800-3454-001.
d) Member may send an e-mail request to [email protected] If the member is already registered with KFin Technologies Private Limited e-voting platform, then he can use his existing User ID and password for casting the vote through remote e-voting.
XIII. 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, viz., Friday, August 14, 2020 only shall be entitled to avail the facility of remote e-voting as well as voting at the AGM through ballot paper.
XIV. Mr. Vaibhav Shah, Company Secretary (Membership No. ACS 26121), Proprietor of Vaibhav Shah and Company, Practicing Company Secretaries - Mumbai, has been appointed as the Scrutinizer of the Company to scrutinize the e-voting process in a fair and transparent manner.
XV. Voting shall be allowed at the end of discussion on the resolutions on which voting is to be held with the assistance of Scrutinizer, by use of ballot paper for all those members who are present at the AGM but have not cast their votes by availing the remote e-voting facility.
XVI. The Scrutinizer shall, after the conclusion of voting at the AGM, 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 who are not in the employment of the Company and shall make, not later than Forty-Eight hours from the conclusion of the AGM, a consolidated Scrutiniser’s report of the total votes cast in favour or against, if any, to the Chairman or to a person authorised by the Chairman in writing, who shall countersign the same and declare the result of the voting forthwith.
XVII. The results declared along with the report of the Scrutiniser shall be placed on the website of the Company www.technojet.in and on the website of Karvy E-Voting immediately after the declaration of result by the Chairman or by a person duly authorised. The results shall also be immediately forwarded to the BSE Limited, where the equity shares of the Company are listed.
XVIII. Subject to receipt of requisite number of votes, the Resolutions shall be deemed to have been passed on the date of the AGM i.e. Thursday, August 20, 2020

By Order of the Board of Directors

For Technojet Consultants Limited

Sugandha Goyal Company Secretary

Date: 24[th] June, 2020 Place: Mumbai

Registered Office:

Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai 400001

Explanatory Statement pursuant to Section 102(1) of the Companies Act, 2013

Item No. 3

M/s. Kalyaniwalla & Mistry LLP, Chartered Accountants having Firm Registration No. 104607W/W100166 were appointed as Statutory Auditors of the Company by the Members at the 33[rd] Annual General Meeting (AGM) to hold office as Statutory Auditors from the conclusion of AGM held in the year 2015 till the conclusion of 38th AGM of the Company to be held in the year 2020. Accordingly, their present term gets completed on conclusion of this AGM in terms of the said approval and Section 139 of the Companies Act, 2013 (‘the Act’) read with the Companies (Audit and Auditors) Rules, 2014.

The Board of Directors of the Company (‘the Board’), on the recommendation of the Audit Committee (‘the Committee’), recommended for the approval of the Members, the re-appointment of M/s. Kalyaniwalla & Mistry LLP Chartered Accountants(Firm Registration No. 104607W/W100166), as the Statutory Auditors of the Company for the second term of 5(five) years from the conclusion of this AGM till the conclusion of the 43[rd] AGM to be held in the year 2025 at a remuneration determined by the Board as per the recommendation of the Audit Committee.

M/s. Kalyaniwalla & Mistry LLP, Chartered Accountants has confirmed their eligibility under Section 141 of the Act and the Rules framed there under for appointment as Auditors of the Company.

None of the Directors, Key Managerial Personnel and relatives thereof has any concern or interest, financial or otherwise in the resolution at Item No. 3 of this Notice.

The Board recommends resolution at Item No. 3 of this Notice for approval by the members.

Item No. 4

Pursuant to the applicable provisions of Section 203(1) of the Companies Act, 2013 (“the Act”) read with applicable provisions of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors have appointed Mr. Vipul Panchal, as the Manager of the Company to hold office for a period of five (5) years commencing from February 05, 2020.

Mr. Panchal possesses adequate experience for being appointed as the Manager of the Company. Also, the appointment of Mr. Vipul Panchal is in accordance with the provisions of Sections 196, 197, 203 and Schedule V of the Act and the rules made thereunder, as amended from time to time. He will be considered as the Key Managerial Personnel of the Company. Detailed resume of Mr. Vipul is given in the annexure to this notice.

Save and except Mr. Vipul and his relatives, none of the other Directors, Key Managerial Personnel or their relatives are, in any way, concerned or interested, financially or otherwise, in the resolution set out at Item No. 4 of the Notice

The Board recommends resolution set out in Item No. 4 of the Notice for approval by the members.

ANNEXURE – I

Item No. 2

Details of the Director seeking re-appointment

(In pursuance of Regulation 26(4) & Regulation 36(3) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and ‘Secretarial Standards on General Meetings)

Name: Date of birth: Nationality: Brief Profile:

Date of first appointment on the Board: Qualifications: No. of Board Meetings attended during the year : Outside Directorship : Membership/ Chairmanships of Committees of Boards of other Companies : Shareholding in the Company: Relationship with other Directors /KMP of the Company:

Mrs. Bakhtavar Ady Pardiwalla September 17, 1954 Indian Mrs. Bakhtavar A. Pardiwalla is presently working with Wadia Group. She has forty four years of experience in the field of administration. November 09, 2015 Under Graduate Six Board Meetings in the FY 2019-20 Oseaspre Consultants Limited and Nitapo Holdings Pvt. Ltd.

None 8,281 shares as on 31[st] March, 2020.

None

Item No. 4

Details of the Manager seeking appointment

Mr. Vipul Panchal November 07,1987 Indian He has 12 years of experience in the field of Accounts and taxation February 05, 2020 Masters in Commerce None

Name: Date of birth: Nationality: Brief Profile:

Date of first appointment on the Board: Qualifications: Outside Directorship : None Membership/ Chairmanships of Committees of Boards of other Companies : None Shareholding in the Company: NIL Relationship with other Directors /KMP of the Company: None

ROUTE MAP

Venue - C-1, Wadia International Center, Pandurang Budhkar Marg, Worli, Mumbai - 400 025

==> picture [514 x 597] intentionally omitted <==

Landmark : Near Bombay Dyeing

Distance from Prabhadevi Local Railway Station is 900m and from Parel Railway station is 1200m.

TECHNOJET CONSULTANTS LIMITED

[CIN: L74210MH1982PLC027651]

Registered Off: Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai - 400001 Admin Off: C-1, Wadia International Center, P. Budhkar Marg, Worli, Mumbai - 400 025 [Website: www.technojet.in] [Tel Nos: 022 66620000] [email:[email protected]]

DIRECTOR’S REPORT TO THE MEMBERS

Your Directors present the Thirty-Eighth (38[th] ) Annual Report on the business and operations of the Company alongwith the Audited financial statements for the Financial Year (“FY”) ended 31[st] March, 2020:

1. FINANCIAL RESULTS:

(Amounts in Rs.)

==> picture [414 x 166] intentionally omitted <==

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

For the year ended For the year ended 31 [st]
31 [st] March, 2020 March, 2019
Profit /(Loss) before taxation (4,63,394) 4,04,501
Less: Tax Expense
Current tax - 78,000
Deferred Tax -
Tax related to earlier years (45,708) -
Profit /(Loss) after taxation (5,09,102) 326,501
Add: Balance brought forward from 58,38,539 55,12,038
earlier year
Balance carried to Balance Sheet 53,29,437 58,38,539
----- End of picture text -----

During the year under review, the Company has made Loss before taxation of Rs.4,63,394/- as against the Profit of Rs.4,04,501/- in the previous year.

2. DIVIDEND:

Your Directors have not recommended payment of any dividend for the Financial Year 2019-20.

3. OPERATIONS:

The Company has rented its factory premises located at Valsad, Gujarat.

4. HOLDING AND SUBSIDIARIES:

The Company does not have any holding, subsidiary, joint venture or associate Companies.

5. DEPOSITS:

The Company has not accepted any deposits from the public in the Financial Year 2019-20.

6. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

In view of the nature of activities which are being carried out by your Company, the provisions of Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014, pertaining to the conservation of energy and technology absorption, are not applicable to your Company.

There were no Foreign Exchange earnings or outgo during the period.

7. RELATED PARTY TRANSACTIONS:

The provisions of Regulation 23 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 with respect to the Company policy on dealing with Related Party Transactions is not applicable to the Company.

All transactions entered into with Related Parties as defined under the Companies Act, 2013 and Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 during the financial year were in the ordinary course of business and on an arm’s length basis and do not attract the provisions of Section 188 of the Companies Act, 2013.

During the year under review, the Company did not enter into any contract / arrangement / transaction with related parties which could be considered material in accordance with the related party transactions. The related party transaction is disclosed under Note No. 27 of the Notes to the Financial Statements for the year 2019-2020.

8. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

During the year under review, the Company has no outstanding Loans, Guarantees or Investments pursuant to Section 186 of the Companies Act, 2013.

9. EXTRACT OF ANNUAL RETURN AS REQUIRED AND PRESCRIBED UNDER SECTION 92(3) OF THE COMPANIES ACT, 2013 AND RULES MADE THEREUNDER:

Pursuant to the provisions of Section 134(3)(a) and Section 92 of the Companies Act, 2013 read with Rule 12 of the Companies (Management and Administration) Rules, 2014 the extract of Annual Return of the Company as at 31st March, 2020 is uploaded on the website of the Company at www.technojet.in

10. DIRECTORS AND KEY MANGERIAL PERSONNEL:

Pursuant to the provisions of Section 149 of the Act, the Independent Directors have given a declaration that they meet the criteria of independence as laid down under Section 149(6) of the Act along with Rules framed thereunder and Regulation 16(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”). There has been no change in the circumstances affecting their status as Independent Directors of the Company.

The Company has also received declarations from all the Directors of the Company confirming that they are not disqualified under Section 164(2) of the Companies Act, 2013 from being appointed as the Directors of the Company and affirmed compliance with Wadia Code of Ethics and Business Principles as required under Regulation 26(3) of SEBI (LODR) Regulations, 2015.

During the year under review, the Non-Executive Directors of the Company had no pecuniary relationship or transactions with the Company.

DIRECTOR RETIRING BY ROTATION

In accordance with the applicable provisions of the Companies Act, 2013, Mrs. Bakhtavar Ady Pardiwalla (DIN: 06721889), a Non– Executive Director on the Board of the Company, retires by rotation and being eligible has offered herself for re-appointment. Necessary information for the reappointment of Mrs. Bakhtavar Ady Pardiwalla has been provided in “Annexure I” of the notice convening the ensuing AGM. During the year, the Non-Executive Director of the Company had no pecuniary relationship or transactions with the Company.

Your Directors have recommended her reappointment as the Non-Executive Director on the Board of the Company.

APPOINTMENT OF MANAGER

The Company has, pursuant to the provisions of Sections 2(51), 2(53), 196, 197, 203 and Schedule V of the Companies Act, 2013 (“the Act”) read with other applicable provisions of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, including any statutory modifications thereof, appointed Mr. Vipul Panchal, as the Manager of the Company for a period of five(5) years with effect from February 05, 2020 on such terms and conditions and on such remuneration as may be decided by the Board of the Company.

Further, necessary resolutions for the appointment / re-appointment of the aforesaid Directors and the Manager have been included in the Notice convening the ensuing AGM and requisite details have been provided in the explanatory statement of the Notice.

The Board recommends his appointment.

Also, during the year under review, Ms. Amisha Rajput ceased to be the Company Secretary and Chief Financial Officer of the Company w.e.f. the close of working hours of February 06, 2020. Subsequently, the Company appointed Ms. Sugandha Goyal, a qualified Company Secretary, as the Company Secretary and Chief Financial Officer of the Company w.e.f. 12th June, 2020 at the Board Meeting held on that date.

11. MEETING OF THE BOARD OF DIRECTORS

During the year under review, total six (6) Board Meetings were held on April 10, 2019, May 27, 2019, August 12, 2019, August 29, 2019, November 07, 2019 and February 05, 2020 respectively. The Company has adhered to the timeline of gap required to be maintained between each of the Board meetings as prescribed under the Companies Act, 2013.

12. BOARD EVALUATION

The Companies Act, 2013, stipulates evaluation of the performance of the Board, its Committees, Individual Directors and the Chairman respectively.

With the objective of enhancing the effectiveness of the Board, the Nomination & Remuneration Committee (NRC) has formulated the methodology and criteria to evaluate the performance of the Board and the individual Directors of the Company.

The evaluation framework for assessing the performance of Directors comprises of various key areas such as attendance at the Board and the Committee Meetings, quality of contribution, strategic insights or inputs regarding future growth of the Company and its performance, ability to challenge views in a constructive manner, knowledge acquired with regard to the Company’s business/activities, understanding of industry and global trends, etc.

Pursuant to the provisions of the Companies Act, 2013 and Regulation 17 of Listing Regulations, 2015, the Board has carried out an annual performance evaluation of its own performance, the Directors individually as well as of the Committees of the Board.

The performance evaluation of the Independent Directors was carried out by the entire Board excluding the Director being evaluated. The performance evaluation of the Chairman and the NonIndependent Directors was carried out by the Independent Directors. Qualitative comments and suggestions of Directors were taken into consideration by the Chairman of the Board and the

Chairman of the Nomination and Remuneration Committee. The Directors have expressed their satisfaction with the evaluation process.

The Board reviewed the performance of each of the Directors of the Company and expressed its satisfaction on the same.

13. NOMINATION AND REMUNERATION POLICY/ CHARTER

The Board has adopted, on recommendation of the Nomination and Remuneration Committee, a policy for selection and appointment of Directors, Senior Management and their remuneration. The Nomination & Remuneration Charter has been posted on the website of the Company at www.technojet.in

14. INDEPENDENT DIRECTORS MEETING

As per Para V11 (1) of Schedule 1V to the Companies Act 2013, lndependent Directors (IDs) are required to hold at least one meeting without the attendance of Non-independent directors and members of management. For the financial year 2019-20, the IDs of a company have not been able to hold such a meeting, the same shall not be viewed as a violation as per Ministry of Corporate Affairs Circular No. 11/2020 dated 24th March 2020.

15. AUDIT COMMITTEE:

Your Company has constituted the Audit Committee in terms of the requirements of the Companies Act, 2013. The Members of audit committee are Mr. Sanjive Arora (Chairman), Mr. S. Raja and Mr. D.S. Gagrat. The Company has duly complied with the provision of Section 177(2) of the Companies Act, 2013 i.e. majority of its members are Independent Directors.

During the year under review, the Committee met five (5) times viz., May 27, 2019, August 12, 2019, August 29, 2019, November 07, 2019 and February 05, 2020 respectively.

The Company has established a vigil mechanism through the committee, wherein the genuine concerns are expressed by the employees and other Directors. The Company has also provided adequate safeguards against victimization of employees and directors who express their concerns. The Company has provided the details of the vigil mechanism in the Whistle Blower Policy and also posted on the website of the Company.

16. NOMINATION AND REMUNERATION COMMITTEE:

Your Company has constituted a Nomination and Remuneration Committee(NRC) in terms of the requirements of the Companies Act, 2013 The Members of nomination and remuneration committee are Mr. Sanjive Arora (Chairman), Mr. J.C. Bham and Mr. D.S. Gagrat. The Company has duly complied with the provision of Section 178(1) of the Companies Act, 2013 i.e. majority of its members are Independent Directors. During the year under review, the Committee met on 10[th] April, 2019, 29[th] August, 2019 and 05[th] February, 2020.

The broad terms of reference of the Nomination and Remuneration Committee includes:

Setup and composition of the Board, its committees.
Evaluation of performance of the Board, its committees and Individual Directors.
Remuneration for Directors, KMP and other employees.

17. DIRECTORS’ RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge, confirms that:

1) in the preparation of the Annual Accounts, the applicable accounting standards have been followed and there are no material departures;

2) 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 the end of the financial year and of the loss of the Company for that period;

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

4) they have prepared the Annual Accounts on a going concern basis; and
5) they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.
6) 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.

Based on the framework of internal financial controls and compliance systems established and maintained by the Company, work performed by the internal, statutory and secretarial auditors and the reviews performed by Management and the relevant Board Committees, including the Audit Committee, the Board is of the opinion that the Company’s internal financial controls were adequate and effective during the financial year 2019-20.

18. PARTICULARS OF EMPLOYEES:

The Information as per Section 197(12) of the Companies Act, 2013, read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, forms part of ” this Report as “ Annexure A .

19. AUDITORS:

Statutory Auditors

Pursuant to the provisions of Sections 139, 141, 142 and all other applicable provisions, if any, of the Companies Act, 2013, and the rules made thereunder including any statutory amendment(s) or modification(s) or re-enactment thereof for the time being in force, M/s. Kalyaniwalla & Mistry LLP, Chartered Accountants, Mumbai, (Firm Registration No. 104607W / W100166), the present Statutory Auditors of the Company would be completing their first term as Statutory Auditors. They hold office up to the conclusion of 38th Annual General Meeting of the Company. Accordingly, the Board of Directors has recommended the re-appointment M/s. Kalyaniwalla & Mistry LLP, Chartered Accountants (Firm Registration No. 104607W / W100166), as the Statutory Auditors of the Company for the second term of 5 (Five) consecutive years to hold office from the conclusion of this Annual General Meeting (AGM) until the conclusion of the 43rd AGM to be held in the year 2025 at a remuneration determined by the Board of Directors of the Company as per the recommendation of the Audit Committee.

M/s. Kalyaniwalla & Mistry LLP, Chartered Accountants has confirmed their eligibility under Section 141 of the Act and the Rules framed there under for appointment as Auditors of the Company.

The Report given by the M/s. Kalyaniwalla & Mistry LLP, Chartered Accountants on the Financial Statement of the Company for F.Y 2019 – 20 forms part of the Annual Report.

Secretarial Auditor

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s. Parikh & Associates, Company Secretaries in Practice, to undertake the Secretarial Audit of the Company. The Report of the Secretarial Auditor is annexed herewith as “ Annexure B ”.

Internal Auditors

The Internal Auditor of the Company - M/s. K. S. Thar & Co., Chartered Accountants (Registration No. 110959W), have conducted the internal audit of the Company for the F.Y 201920. The reports and findings of the Internal Auditor are periodically reviewed by the Audit Committee.

20. AUDITORS QUALIFICATIONS:

Statutory Auditors’ Report and Secretarial Auditors’ Report do not contain any qualification, reservation or adverse remarks.

21. SIGNIFICANT OR MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS:

There have been no significant and material orders passed by the regulators, courts and tribunals impacting the going concern status and the Company’s operations in future except as below;

During the year the Company had received an order from Securities Appellate Tribunal (“SAT”) dated January 21, 2020. As per the order SAT directed SEBI to waive penalty of Rs. 1,00,000/imposed on the Company as per SEBI order dated September 27, 2018 in the matter of nonsubmission of audit report of Sharepro Services (I) Private Limited (then Company Registrar and Share Transfer Agent) records.

22. MATERIAL CHANGES:

No material changes and commitments affecting the financial position of the Company occurred between the end of the financial year of the Company to which this financial statement relates up to the date of this report.

23. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

Internal Audit plays a key role in providing assurance to the Board of Directors with respect to the Company having adequate Internal Financial Control Systems. The Company has adequate Internal Control System and processes in place with respect to its financial statements which provides reasonable assurance and reliability of financial reporting and preparation of Financial Statements.

The reports and findings of the internal auditor and the internal control system are reviewed periodically by the Audit Committee. To maintain its objectivity and independence, the Internal Audit function reports to the Chairman of the Audit Committee of the Board.

24. RISK MANAGEMENT POLICY:

The Company has formulated a Risk Assessment & Management Policy, duly reviewed by the Audit Committee, establishing the philosophy of the Company towards risk identification, analysis and prioritization of risks, development of risk mitigation plans and reporting to the Board periodically. The Policy is applicable to all the functions and departments of the Company. The said Policy is available on the website of the Company at www.technojet.in

25. DISCLOSURES AS PER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

The Company has zero tolerance for sexual harassment at workplace and has adopted a Policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules thereunder for prevention and redressal of complaints of sexual harassment at workplace.

The Company has not received any complaint on sexual harassment during the financial year 2019-20.

26. CODE OF CONDUCT

The Board of Directors has adopted the Code of Ethics and Business Principles for Non-Executive Directors as also for the employees including Whole-Time Directors, Manager and other members of Senior Management. All members of the Board and senior management personnel have affirmed compliance with the Code. The said Code has been communicated to all the Directors and members of the Senior Management. The Code has also been posted on the Company website on www.technojet.in

27. PREVENTION OF INSIDER TRADING CODE:

The Company has adopted a Code of Conduct to regulate, monitor and report trading by Designated Persons and code of practices and procedures for fair disclosures of unpublished price sensitive information (“Code”) in terms of SEBI (Prohibition of Insider Trading) Regulations, 2015 and any statutory amendment (s)/ modification(s) thereof. In compliance with the SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2018, (“Amendment Regulations”), Company has amended the Code.

The Code is applicable to Directors, Employees, Designated Persons and other Connected Persons of the Company.

28. CORPORATE SOCIAL RESPONSIBILTY:

The provisions of Section 135 of the Companies Act, 2013 are not applicable to the Company and hence the Company is not required to spend any Corporate Social Responsibility expenses during the year under review.

29. CORPORATE GOVERNANCE:

The provisions of Regulation 27 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 with respect to the Corporate Governance Report is not applicable to the Company.

30. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

The provisions of Regulation 34 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 with regards to the Management Discussion and Analysis Report is not applicable to the Company.

31. COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD AND ANNUAL GENERAL MEETINGS .

The Company has complied with the Secretarial Standards issued by the Institute of Company Secretaries of India on Board meetings, Committee Meetings and Annual General Meetings.

32. APPRECIATION:

The Directors express their appreciation to all the employees of the Company for their diligence and contribution of their performance. The Directors also record their appreciation for the support and co-operation received from agents, suppliers, bankers and all other stakeholders. Last but not the least, the Directors wish to thank all shareholders for their continued support.

By Order of the Board of Directors

For Technojet Consultants Limited

J. C. Bham Chairman

DIN: 02806038

Place: Mumbai Dated: 24[th] June 2020

Registered Office: Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai – 400001

ANNEXURE A TO DIRECTOR’S REPORT:

DETAILS OF THE REMUNERATION OF DIRECTORS, KMP’S AND EMPLOYEES [Pursuant to Section 197(12) of the Companies Act, 2013 read with Rule 5 (1) Of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014]

a. The percentage increase in remuneration of each Director, Chief Financial Officer and Company Secretary during the financial year 2019-20, ratio of the remuneration of each Director to the median remuneration of the employees of the Company for the financial year 2019-20 and the comparison of remuneration of each Key Managerial Personnel (KMP) against the performance of the Company are as under:

==> picture [478 x 469] intentionally omitted <==

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

(Amount in lakhs)
Ratio of
Remuneration % increase in
remuneration of
of Remuneration in
Sr. Name of Director/ KMP and each Director/to
Director/KMP the Financial
No. Designation median
for Financial Year
remuneration of
Year 2019-20 2019-20
employees
Mr. J. C. Bham,
1 Non-Executive Director/Non - - -
Independent Director
Mr. D. S. Gagrat,
2 Non-Executive /Independent Director - - -
Mr. S. Raja,
3 Non-Executive Director/Non - - -
independent Director
Mr. Sanjive Arora,
4 Non-Executive /Independent Director - - -
w.e.f August 29, 2019
Mrs. Bakhtavar A. Pardiwalla,
5 Non-Executive/Non- - - -
Independent/Women Director
Mr. Girish R Advani,
6 Non-Executive Independent Director - - -
upto August 29, 2019
Mr. Mukesh Meshram, Manager
7 Appointed w.e.f. April 10, 2019 upto - - -
October 31, 2019
Mr. Vipul Panchal, Manager
8 - - -
Appointed w.e.f. February 05, 2020
Ms. Amisha Rajput Chief Financial
9 Officer and Company Secretary upto 4.07 # #
February 06, 2020
----- End of picture text -----

Mr. J. C. Bham and Mr. S. Raja were Non-Executive / Independent Director of the Company till September 25, 2019. They have been appointed as Non – Executive / Non – Independent Director of the Company w.e.f. September 26, 2019.

** Mr. D. S. Gagrat have been re-appointed as Non-Executive / Independent Director of the Company for the second term w.e.f. September 26, 2019.

Since there is no common denomination for the period of 2 years, comparison of remuneration of Directors to Employees and comparison of remuneration of KMP against the performance of the company cannot be provided.

Details not stated as Ms. Amisha Rajput resigned as Company Secretary and Chief Financial Officer of the Company w.e.f. the close of working hours of February 06, 2020.

b. The median remuneration of employees of the Company during the financial year was Rs. 4.07 lakhs. However, keeping 2019-20 as a base year comparison for increase in the median remuneration of employees cannot be provided for the current year.
c. There was 1 permanent employee on the rolls of the Company as on March 2020.
d. It is hereby confirmed that the remuneration is paid as per the Remuneration policy of the Company.

For Technojet Consultants Limited J. C. Bham Chairman DIN: 02806038

Place: Mumbai Dated: 24[th] June 2020

ANNEXURE B TO DIRECTORS’ REPORT:

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, TECHNOJET CONSULTANTS LIMITED

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

Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the Company, the information to the extent provided by the Company, its officers, agents and authorised representatives during the conduct of secretarial audit, the explanations and clarifications given to us and the representations made by the Management and considering the relaxations granted by The Ministry of Corporate Affairs warranted due to the spread of the COVID19 pandemic, 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 the Company for the financial year ended on 31[st] March, 2020 according to the provisions of:

(i) The Companies Act, 2013 (the Act) and the rules made thereunder;
(ii) The Securities Contract (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder;
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
(iv) Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowings; (Not applicable to the Company during the audit period)
(v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’)

(a)The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;

(b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and amendments from time to time;

(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and amendments from time to time; (Not applicable to the Company during the audit period)

(d) The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014; (Not applicable to the Company during the audit period)

(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations,2008; (Not applicable to the Company during the audit period)

(f) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with client; (Not applicable to the Company during the audit period)

(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; (Not applicable to the Company during the audit period) and

(h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018 and amendments from time to time; (Not applicable to the Company during the audit period)

vi) As represented by the Management there are no sector specific laws applicable to the Company.

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

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

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

During the period under review, the Company has generally complied with the provisions of the Act, Rules, Regulations, and Guidelines, standards etc. mentioned above.

We further report that:

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

The Company has appointed Manager as Key Managerial Personnel pursuant to Section 203 of the Companies Act, 2013.

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

Decisions at the Board Meetings were taken unanimously.

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

We further report that during the audit period no events occurred which had bearing on the Company’s affairs in pursuance of the above referred laws, rules, regulations, guidelines etc.

For Parikh & Associates Company Secretaries

Place: Mumbai Date: June 24, 2020

J.U. Poojari Partner FCS No: 8102 CP No: 8187 UDIN: F008102B000373555

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

‘Annexure A’

To, The Members TECHNOJET CONSULTANTS LIMITED

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

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

For Parikh & Associates Company Secretaries

Place: Mumbai Date: June 24, 2020

J.U. Poojari Partner FCS No: 8102 CP No: 8187 UDIN: F008102B000373555

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF TECHNOJET CONSULTANTS LIMITED

Report on the Audit of the Ind AS Financial Statements

Opinion

We have audited the accompanying Ind AS financial statements of Technojet Consultants Limited (“the Company”), which comprise the Balance Sheet as at 31st March, 2020, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Cash Flows and the Statement of Changes in Equity for the year then ended, and notes to the Ind AS financial statements, including a summary of significant accounting policies and other explanatory information (hereinafter referred to as ‘Ind AS financial statements’).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Ind AS financial statements give the information required by the Companies Act, 2013 (the “Act”) in the manner so required and give a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (India Accounting Standard) Rules, 2015, as amended, (“Ind AS”) and other accounting principles generally accepted in India, of the state of affairs of the Company as at 31[st] March, 2020, the loss and 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 of the Ind AS financial statements 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 ‘Auditor’s Responsibilities for the Audit of the Ind AS 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 Ind AS financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the Ind AS financial statements

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Ind AS financial statements of the current period. We have determined that there are no key audit matters to communicate in our report.

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

The Company’s Board of Directors is responsible for the other information. The other information comprises the information included in the Directors report, but does not include the Ind AS financial statements and our auditor’s report thereon. The Director’s report is expected to be made available to us after the date of this auditor’s report.

Our opinion on the Ind AS 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 Ind AS financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the Ind AS financial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated.

When we read the other information as specified above, if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance.

Management’s Responsibility for the Ind AS Financial Statements

The Company’s Board of Directors is responsible for the matters in Section 134(5) of the Act with respect to the preparation of these Ind AS financial statements that give a true and fair view of the financial position, financial performance, total comprehensive income, changes in equity and cash flows of the Company in accordance with the Ind AS and other accounting principles generally accepted in India.

This responsibility also includes maintenance of adequate accounting records in accordance with the provision of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Ind AS financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Ind AS 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 the management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

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

Auditor’s Responsibility for the Audit of the Ind AS Financial Statements

Our objectives are to obtain reasonable assurance about whether the Ind AS 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 Ind AS 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 Ind AS 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 with respect to Ind AS financial statements and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by 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 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 financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

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.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”) issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the Annexure A , a statement on the matters specified in the paragraph 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 purposes of our audit .
b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.
c) The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income, the Statement of Cash Flows and the Statement of Changes in Equity dealt with by this Report are in agreement with the books of account.
d) In our opinion, the aforesaid Ind AS financial statements comply with the Ind AS prescribed under section 133 of the Act, read with relevant rules issued thereunder.

e) On the basis of the written representations received from the directors as on 31[st] March, 2020 taken on record by the Board of Directors, none of the directors is disqualified as on 31[st] March, 2020 from being appointed as a director in terms of Section 164 (2) of the Act.
f) With respect to the adequacy of the internal financial controls over Ind AS financial statements of the Company and the operating effectiveness of such controls, refer to our separate report in Annexure B . Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the Company’s internal financial controls over Ind AS financial statements
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, there is no remuneration paid / provided by the Company during the year. So the provisions of section 197 of the Act, do not apply.
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, in our opinion and to the best of our information and according to the explanations given to us:
i. The Company has disclosed the impact of pending litigations on its financial position in its Ind AS financial statements – Refer Note 21 to the Ind AS financial statements.
ii. The Company did not have any material foreseeable losses on long term contracts including derivative contracts requiring provision under the applicable law or accounting standards.
iii. There were no amounts which were required to be transferred, to the Investor Education and Protection Fund by the Company.

For KALYANIWALLA & MISTRY LLP

Chartered Accountants Firm Registration No. 104607W/W100166

Jamshed K. Udwadia

Partner Membership No.: 124658 UDIN No.: 20124658AAAABY7121 Mumbai; 24[th] June, 2020.

Annexure A to the Independent Auditor’s Report

Referred to in Para 1 ‘Report on Other Legal and Regulatory Requirements’ in our Independent Auditors’ Report to the members of the Company on the Ind AS financial statements for the year ended 31[st] March, 2020.

Statement on Matters specified in paragraphs 3 & 4 of the Companies (Auditor’s Report) Order, 2016:

i) a) The Company has generally maintained proper records showing particulars, including quantitative details and situation of fixed assets.
b) As explained to us, the Company has a program for physical verification of fixed assets at periodic intervals. In our opinion, the period of verification is reasonable having regard to the size of the Company and the nature of its assets. There are no discrepancies reported on such verification.
c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the title deeds of immovable properties are held in the name of the Company.
ii) The Company being a service company does not have any inventory and hence provision of paragraph 3 (ii) of the Order is not applicable to the Company.
iii) The Company has not granted any loans, secured or unsecured, to companies, firms, limited liability partnerships or other parties listed in the register maintained under section 189 of the Companies Act. Accordingly, the provisions of sub-clause (a), (b) and (c) of paragraph 3 (iii) of the Order are not applicable, to the Company.
iv) The Company has not granted any loans or made any investments, or provided any guarantees or security to the parties covered under Section 185 and 186. Therefore, provisions of Clause 3(iv) of the said Order are not applicable to the Company.
v) According to the information and explanations given to us, the Company has not accepted any deposits, from the public as per the directives issued by the Reserve Bank of India, to which the provisions of sections 73 to 76, or any other relevant provisions of the Companies Act and the rules framed there under apply. Accordingly, paragraph 3(v) of the Order is not applicable to the Company.
vi) We are informed that the maintenance of cost records has not been prescribed by the Central Government of India under section 148(1) of the Act, for any of the services rendered by the Company. Accordingly, paragraph 3(vi) of the Order is not applicable to the Company.
vii) a) According to the information and explanation given to us and the records examined by us, the Company is generally regular in depositing undisputed statutory dues, including dues pertaining to provident fund, employees’ state insurance, income-tax, goods and service tax, profession tax, cess and any other statutory dues with the appropriate authorities, wherever applicable and there are no such outstanding dues as at 31[st] March, 2020, for a period of more than six months from the date they became payable.
b) According to the information and explanations given to us there are no dues of Income tax, goods and service tax, or duty of customs or duty of excise or value added tax which have not been deposited on account of any dispute.

viii) According to the information and explanations given to us the Company did not have any loans or borrowings to financial institutions, banks or debenture holders during the year. Accordingly, paragraph 3(viii) of the Order is not applicable to the Company.
ix) The Company has not raised moneys by way of initial public offer or further public offer (including debt instruments) and term loans. Accordingly, paragraph 3(ix) of the Order is not applicable to the Company.
x) Based upon the audit procedures performed by us, to the best of our knowledge and belief and according to the information and explanations given to us by the Management, no material fraud on, or by the Company, has been noticed or reported during the year.
xi) According to the information and explanations give to us and based on our examination of the records of the Company, the Company has not paid/provided any managerial remuneration during the year. Accordingly, paragraph 3(xi) of the Order is not applicable to the Company.
xii) In our opinion and according to the information and explanations given to us, the Company is not a nidhi company. Accordingly, paragraph 3(xii) of the Order is not applicable.
xiii) According to the information and explanations given to us and based on our examination of the records of the Company, transactions with the related parties are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions have been disclosed in the financial statements as required by the applicable accounting standards.
xiv) According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. Accordingly, paragraph 3(xiv) of the Order is not applicable to the Company.
xv) According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not entered into non-cash transactions with directors or persons connected with him. Accordingly, paragraph 3(xv) of the Order is not applicable.
xvi) The Company is not required to be registered under section 45-IA of the Reserve Bank of India Act 1934 and hence the provisions of paragraph 3(xvi) of the Order is not applicable.

For KALYANIWALLA & MISTRY LLP

Chartered Accountants Firm Registration No. 104607W /W100166

Jamshed K. Udwadia

Partner Membership No.: 124658 UDIN No.: 20124658AAAABY7121 Mumbai; 24[th] June, 2020.

Annexure B to the Independent Auditor’s Report

Referred to in Para 2 (f) ‘Report on Other Legal and Regulatory Requirements’ in our Independent Auditor’s Report to the members of the Company on the Ind AS financial statements for the year ended 31[st] March, 2020.

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

We have audited the internal financial controls over Ind AS financial statements of Oseaspre Consultants Limited (“the Company”) as of 31[st] March, 2020 in conjunction with our audit of the Ind AS financial statements of the Company for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

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

Auditors’ Responsibility

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

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over Ind AS financial statements and their operating effectiveness.

Our audit of internal financial controls system over Ind AS financial statements included obtaining an understanding of internal financial controls over Ind AS financial statements, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the Ind AS financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company’s internal financial controls system over Ind AS financial statements.

Meaning of Internal Financial Controls over Ind AS financial statements

A Company's internal financial control over Ind AS financial statements is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of Ind AS financial statements for external purposes in accordance with generally accepted accounting principles. A Company's internal financial control over Ind AS financial statements include those policies and procedures that:

(1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company;
(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of Ind AS financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and
(3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company's assets that could have a material effect on the Ind AS financial statements.

Inherent Limitations of Internal Financial Controls over Ind AS financial statements

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

Opinion

In our opinion, the Company has, in all material respects, an adequate internal financial controls system over Ind AS financial statements and such internal financial controls over Ind AS financial statements were operating effectively as at 31[st] March, 2020, based on the internal control over Ind AS financial statements criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India.

For KALYANIWALLA & MISTRY LLP

Chartered Accountants Firm Registration No. 104607W/W100166

Jamshed K. Udwadia

Partner Membership No.: 124658 UDIN No.: 20124658AAAABY7121 Mumbai; 24[th] June, 2020.

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TECHNOJET CONSULTANTS LIMITED
Balance Sheet as at 31st March, 2020
(Amount in INR)
As at As at
Particulars Note
31st March, 2020 31st March, 2019
ASSETS
Non-current assets
(a) Property, Plant and Equipment 3 2 2
(b) Investment Property 4 67,310 67,985
(c) Financial Assets
(i) Investments 5 - 7,23,196
(d) Deferred Tax Assets (Net) 9 3,509 -
Total Non-Current assets 70,821 7,91,183
Current assets
(a) Financial Assets
(i) Cash and cash equivalents 6 32,466 7,35,457
(ii) Bank balances other than (i) above 7 82,36,011 79,39,145
(b) Current Tax Assets (Net) 8 70,313 1,54,878
(c) Other current assets 10 11,780 8,509
Total Current assets 83,50,570 88,37,989
TOTAL ASSETS 84,21,391 96,29,172
EQUITY AND LIABILITIES
Equity
(a) Equity Share capital 11 20,00,000 20,00,000
(b) Other Equity 12 63,31,891 74,13,764
Total Equity 83,31,891 94,13,764
Liabilities
Non-current liabilities
(a) Deferred tax liabilities (Net) 13 - 1,46,916
Total Non-current liabilities - 1,46,916
Current liabilities
(a) Other current liabilities 14 89,500 68,492
Total-Current liabilities 89,500 68,492
TOTAL EQUITY AND LIABILITIES 84,21,391 96,29,172
The accompanying notes are an integral part of the financial statements - 1 to 32
As per our report attached For and on behalf of the Board of Directors
For KALYANIWALLA & MISTRY LLP Technojet Consultants Limited
Chartered Accountants CIN: L74210MH1982PLC027651
Firm Regn No. 104607W/W100166
Jamshed K. Udwadia Mr. J. C. Bham Mr. S. Raja
Partner Director Director
M.No. 124658 DIN : 02806038 DIN : 03149272
Date: 24th June, 2020 Mrs. Sugandha Goyal
Place: Mumbai Company Secretary / Chief Financial Officer
Date: 24th June, 2020
Place: Mumbai
----- End of picture text -----

TECHNOJET CONSULTANTS LIMITED

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

INCOME
I
Other Income
15
II
Total Income
III
EXPENSES
Employee benefits expense
16
Depreciation and amortisation expenses
17
Other expenses
18
Total Expenses (III)
IV
(Loss) / Profit before exceptional items and tax (II - III)
V
Exceptional items
VI
(Loss) / Profit Before Tax (IV - V)
VII Tax expense:
19
Current tax
Prior year tax adjustments
Total Tax Expenditure (VII)
VIII (Loss) / Profit for the year (VI - VII)
IX
Other comprehensive income
(i) Items that will not be reclassified to profit or loss
- Change in fair value of equity investments
(ii) Income tax relating to items that will not be
reclassified to profit and loss.
X
Total comprehensive income for the year (VIII + IX)
XI
Earnings per equity share of nominal value of INR 10/- each
20
(i) Basic (in INR)
(ii) Diluted (in INR)
Particulars
Note N

(Amount in INR)
Year Ended
Year Ended
31st March, 2020
31st March, 2019
9,49,696
12,29,754
9,49,696
12,29,754
4,56,642
2,02,856
675
675
9,55,773
6,21,722
14,13,090
8,25,253
(4,63,394)
4,04,501
-
-
(4,63,394)
4,04,501
-
78,000
45,708
-
45,708
78,000
(5,09,102)
3,26,501
(7,23,196)
3,135
1,50,425
(652)
(5,72,771)
2,483
(10,81,873)
3,28,984
(2.55)
1.63
(2.55)
1.63
o

The accompanying notes are an integral part of the financial statements - 1 to 32

As per our report attached For KALYANIWALLA & MISTRY LLP Chartered Accountants Firm Regn No. 104607W/W100166

For and on behalf of the Board of Directors Technojet Consultants Limited CIN: L74210MH1982PLC027651

Jamshed K. Udwadia Partner M.No. 124658

Mr. J. C. Bham Mr. S. Raja Director Director DIN : 02806038 DIN : 03149272

Date: 24th June, 2020 Place: Mumbai

Mrs. Sugandha Goyal Company Secretary / Chief Financial Officer Date: 24th June, 2020 Place: Mumbai

TECHNOJET CONSULTANTS LIMITED

Statement of changes in equity for the year ended 31st March, 2020

(A) EQUITY SHARE CAPITAL

(A) EQUITY SHARE CAPITAL
												(Amount in INR)
Particulars										Note No.		Balance
As at March 31, 2018												20,00,000
Changes in equity share capital during the year										11		-
As at March 31, 2019												20,00,000
Changes in equity share capital during the year										11		-
As at March 31, 2020										11		20,00,000
(B) OTHER EQUITY (Refer Note No. 12)
												(Amount in INR)
									Items of Other
		Reserves		& Surplus					Comprehensive
										income
Particulars								Equity Instruments				Total
		General Reserve		Retained Earnings					through Other Comprehensive
										Income
Balance as at March 31, 2018		10,08,990			55,12,038					5,63,752		70,84,780
Profit for the year			-		3,26,501						-	3,26,501
Other comprehensive income for the year, net of income tax			-			-				2,483		2,483
Total comprehensive income for the year			-		3,26,501					2,483		3,28,984

Balance as at March 31, 2019		10,08,990			58,38,539					5,66,235		74,13,764
Loss for the year			-		(5,09,102)						-	(5,09,102)
Other comprehensive income for the year, net of income tax			-			-				(5,72,771)		(5,72,771)
Total comprehensive income for the year			-		(5,09,102)					(5,72,771)		(10,81,873)

Balance as at March 31, 2020		10,08,990			53,29,437					(6,536)		63,31,891
The accompanying notes are an integral part of the financial	statements - 1 to 32
As per our report attached				For and on behalf of the					Board of Directors
For KALYANIWALLA & MISTRY LLP				Technojet Consultants					Limited
Chartered Accountants				CIN: L74210MH1982PLC027651
Firm Regn No. 104607W/W100166
Jamshed K. Udwadia				Mr. J. C. Bham					Mr. S. Raja
Partner				Director					Director
M.No. 124658				DIN : 02806038					DIN : 03149272
Date: 24th June, 2020				Mrs. Sugandha		Goyal
Place: Mumbai				Company Secretary /			Chief Financial Officer
				Date: 24th June,		2020
				Place: Mumbai

==> picture [525 x 791] intentionally omitted <==

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TECHNOJET CONSULTANTS LIMITED
Statement of Cash Flow for the year ended 31st March, 2020
(Amount in INR)
Year Ended Year Ended
Particulars
31st March, 2020 31st March, 2019
A CASH FLOW FROM OPERATING ACTIVITIES
(Loss) / Profit before Exceptional Items and Tax (4,63,394) 4,04,501
Adjustments for :
Depreciation and amortisation expense 675 675
Profit on sale of mutual funds (4,31,132) (4,61,463)
-
Unclaimed balances / excess provisions written back (2,040)
Interest income (38,564) (1,05,977)
(9,32,415) (1,64,304)
Adjustments for changes in working capital
Other current assets (3,271) (1,057)
Other current liabilities 21,008 (2,520)
(9,14,678) (1,67,881)
Direct taxes paid (Net) 38,858 (76,510)
NET CASH USED IN OPERATING ACTIVITIES (A) (8,75,820) (2,44,391)
B CASH FLOW FROM INVESTING ACTIVITIES
Term Deposit placed with bank (82,00,000) (79,00,000)
Term Deposit with bank-matured 79,00,000 77,00,000
Purchase of investments (2,50,00,000) (78,00,000)
-
Proceeds from redemption of preference shares 2,000
Proceeds from sale of mutual funds 2,54,31,132 82,61,463
Interest received 41,698 1,19,475
NET CASH FROM INVESTING ACTIVITIES (B) 1,72,829 3,82,938
C CASH FLOW FROM FINANCING ACTIVITIES (C) - -
NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (A+B+C) (7,02,991) 1,38,547
CASH AND CASH EQUIVALENTS AT THE COMMENCEMENT OF THE YEAR 7,35,457 5,96,910
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 32,466 7,35,457
Notes:
1 As at As at
Particulars
31st March, 2020 31st March, 2019
Cash and cash equivalents comprises of :
Balances with banks in current accounts 30,011 7,31,740
Cheques on hand - 275
Cash on hand 2,455 3,442
32,466 7,35,457
2 The above Statement of cash flow has been prepared under the 'Indirect Method' as set out in Ind AS 7, 'Statement of Cash Flows'.
3 Figures in brackets are outflows / deductions. Previous years figures have been regrouped wherever necessary.
As per our report attached For and on behalf of the Board of Directors
For KALYANIWALLA & MISTRY LLP Technojet Consultants Limited
Chartered Accountants CIN: L74210MH1982PLC027651
Firm Regn No. 104607W/W100166
Jamshed K. Udwadia Mr. J. C. Bham Mr. S. Raja
Partner Director Director
M.No. 124658 DIN : 02806038 DIN : 03149272
Date: 24th June, 2020 Mrs. Sugandha Goyal
Place: Mumbai Company Secretary / Chief Financial Officer
Date: 24th June, 2020
Place: Mumbai
----- End of picture text -----

TECHNOJET CONSULTANTS LIMITED

Notes to financial statements for the year ended 31[st] March, 2020

1. GENERAL INFORMATION ABOUT THE COMPANY

Technojet Consultants Limited (the Company) was incorporated on June 28, 1982. It is engaged in the business of provision of technical know-how or rendering of services in connection with the provision of technical know-how. The Company is a public company limited by shares, incorporated and domiciled in India and is listed on the Bombay Stock Exchange (BSE). The Company’s registered office is at Neville House, J.N. Heredia Marg, Ballard Estate, Mumbai – 400 001.

2. SIGNIFICANT ACCOUNTING POLICIES

(a) Statement of compliance

These Financial Statements have been prepared in accordance with the Indian Accounting Standards (‘Ind AS’) as notified by Ministry of Corporate Affairs pursuant to section 133 of the Companies Act, 2013 (‘Act’) read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 as amended and other relevant provisions of the Act.

The accounting policies are applied consistently to all the years presented in the financial statements.

(b) Basis of Preparation and Presentation

The financial statements have been prepared on the historical cost basis except for certain financial instruments that are measured at fair values at the end of each reporting period, as explained in the accounting policies below.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Company takes into account the characteristics of the asset or liability, if market participants would take those characteristics into account when pricing the asset or liability at the measurement date.

In addition, for financial reporting purposes, fair value measurements are categorised into Level 1, Level 2 or Level 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows:

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date;
Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and
Level 3 inputs are unobservable inputs for the asset or liability.

TECHNOJET CONSULTANTS LIMITED

Notes to financial statements for the year ended 31[st] March, 2020

All assets and liabilities have been classified as Current and Non-Current as per the Company's normal operating cycle and other criteria set out in Schedule III to the Companies Act, 2013. Based on the nature of services rendered and the time between the rendering of the services and their realisation in cash and cash equivalent, the Company has ascertained its operating cycle as twelve months for the purpose of Current and Non-Current classification of assets and liabilities.

All the Indian Accounting Standards (“Ind AS”) issued and notified by the Ministry of Corporate Affairs are effective and considered for the significant accounting policies to the extent relevant and applicable for the Company.

The financial statements are presented in Indian Rupees.

(c) Use of estimates and judgments

In the course of applying the policies outlined in all notes under Note 2 above, the Company is required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future period, if the revision affects current and future period.

(d) Recent Accounting Developments

No new standards or amendments to the existing standards have been notified by the Ministry of Corporate Affairs which would have been applicable from April 1, 2020.

(e) Property, Plant and Equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any.

Cost includes purchase price, taxes and duties and other direct costs incurred for bringing the asset to the condition of its intended use. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. All other repair and maintenance costs are recognized in statement of profit and loss as incurred. Borrowing costs attributable to the acquisition or construction of a qualifying asset is also capitalised as part of the cost of the asset.

TECHNOJET CONSULTANTS LIMITED

Notes to financial statements for the year ended 31[st] March, 2020

Depreciation on property, plant and equipment, is provided on the straight-line method, prorata to the period of use, over their useful life. The estimated useful lives and residual values are as prescribed in Schedule II to the Companies Act, 2013.

The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Estimated useful lives of the assets are as follows:

Asset	Useful Life
Electrical Installation	10years

An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognized in statement of profit and loss.

The Company had elected to measure all its property, plant and equipment at the previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS i.e. April 01, 2016.

(f) Investment Property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are stated at cost less accumulated depreciation and accumulated impairment losses, if any.

Depreciation on investment property is provided on the straight-line method, pro-rata to the period of use, over the useful life as prescribed in Schedule II to the Companies Act, 2013

An investment property is derecognized upon disposal or when the investment property is permanently withdrawn from use and no future economic benefits are expected from the disposal. Any gain or loss arising on derecognition of the property (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in statement of profit and loss in the period in which the property is derecognized.

TECHNOJET CONSULTANTS LIMITED

Notes to financial statements for the year ended 31[st] March, 2020

The Company had elected to measure all its investment property at the previous GAAP carrying amount as its deemed cost on the date of transition to Ind AS i.e. April 1, 2016.

(g) Impairment of tangible assets

At the end of each reporting period, the Company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). When it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified.

Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cashgenerating unit) is reduced to its recoverable amount. An impairment loss is recognized immediately in statement of profit and loss.

When an impairment loss subsequently reverses, the carrying amount of the asset (or a cashgenerating unit) is increased to the revised estimate of its recoverable amount, so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash- generating unit) in prior years. A reversal of an impairment loss is recognized immediately in statement of profit and loss.

(h) Cash and Cash equivalents

Cash and cash equivalents includes cash in hand, demand deposits with banks and other short term highly liquid investments, which are readily convertible into cash and which are subject to an insignificant risk of change in value and have original maturities of three months or less.

(i) Financials Instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instruments.

TECHNOJET CONSULTANTS LIMITED

Notes to financial statements for the year ended 31[st] March, 2020

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities {other than financial assets and financial liabilities at fair value through profit or loss (‘FVTPL”)} are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in statement of profit and loss.

Financial assets:

On initial recognition, a financial asset is recognised at fair value. All recognized financial assets are subsequently measured in their entirety at either amortized cost or fair value through profit or loss (FVTPL) or fair value through other comprehensive income (FVOCI) depending on the classification of the financial assets.

Financial assets are not reclassified subsequent to their recognition, except if and in the period the Company changes its business model for managing financial assets.

Investment in Equity Instruments:

All investments in equity instruments classified under financial assets are initially measured at fair value. The Company may, on initial recognition, irrevocably elect to measure the same either at FVOCI or FVTPL.

The Company makes such election on an instrument-by-instrument basis. Fair value change on an equity instrument is recognised in the Statement of Profit and Loss unless the Company has elected to measure such instrument at FVOCI. Fair value changes excluding dividends, on an equity instrument measured at FVOCI are recognised in OCI. Amounts recognised in OCI are not subsequently reclassified to the Statement of Profit and Loss. Dividend income on the investments in equity instruments are recognised in the Statement of Profit and Loss.

Investment in mutual funds:

All investments in mutual funds are measured at fair value through profit and loss (FVTPL)

Derecognition

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the contractual rights to receive the cash flows from the asset.

TECHNOJET CONSULTANTS LIMITED

Notes to financial statements for the year ended 31[st] March, 2020

Impairment of Financial Asset

Expected credit losses are recognized for all financial assets subsequent to initial recognition other than financials assets in FVTPL category.

ECL is the weighted-average of difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the Company expects to receive, discounted at the original effective interest rate, with the respective risks of default occurring as the weights. When estimating the cash flows, the Company is required to consider:

All contractual terms of the financial assets (including prepayment and extension) over the expected life of the assets.
Cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

For financial assets the Company recognizes 12 month expected credit losses for all originated or acquired financial assets if at the reporting date the credit risk of the financial asset has not increased significantly since its initial recognition. The expected credit losses are measured as lifetime expected credit losses if the credit risk on financial asset increases significantly since its initial recognition. The Company assumes that the credit risk on a financial asset has not increased significantly since initial recognition if the financial asset is determined to have low credit risk at the balance sheet date.

Financial liabilities and equity instruments Classification as debt or equity

Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.

Equity instruments

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

Repurchase of the Company’s own equity instruments is recognized and deducted directly in equity. No gain or loss is recognized in statement of profit and loss on the purchase, sale, issue or cancellation of the Company’s own equity instruments.

TECHNOJET CONSULTANTS LIMITED

Notes to financial statements for the year ended 31[st] March, 2020

Financial liabilities

Financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. Financial liabilities are initially measured at the amortised cost unless at initial recognition, they are classified as fair value through profit or loss.

All financial liabilities are subsequently measured at amortized cost using the effective interest method. Financial liabilities carried at fair value through profit or loss are measured at fair value with all changes in fair value recognised in the Statement of Profit and Loss. Interest expense are included in the ‘Finance costs’ line item.

The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the net carrying amount on initial recognition.

Derecognition of financial liabilities

The Company derecognises financial liabilities when, and only when, the Company’s obligations are discharged, cancelled or have expired.

(j) Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material). When discounting is used, the increase in provision due to the passage of time is recognised as a finance cost.

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

TECHNOJET CONSULTANTS LIMITED

Notes to financial statements for the year ended 31[st] March, 2020

Contingent liabilities are disclosed when there is a possible obligation arising from past events,the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made.

(k) Revenue Recognition

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated rebates and similar allowances.

Dividend and interest income

Dividend income from investments is recognized when the Company's right to receive payment has been established.

Interest income from a financial asset is recognized using the effective interest rate (EIR), which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

(l) Cost recognition

Costs and expenses are recognized when incurred and are classified according to their nature.

(m) Employee Benefits

Short-term employee benefits are recognized as an expense at the undiscounted amount in the statement of profit and loss of the year in which the related service is rendered.

Post-employment and other long term benefits

The provisions of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 and Payment of Gratuity Act, 1972 are not applicable to the Company.

(n) Borrowing Costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognized in statement of profit and loss in the period in which they are incurred.

TECHNOJET CONSULTANTS LIMITED

Notes to financial statements for the year ended 31[st] March, 2020

Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing costs also include exchange differences to the extent regarded as an adjustment to the borrowing costs.

(o) Leasing

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement.

The Company as Lessor

Rental income from operating leases is generally recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

The Company as Lessee

Rental expense from operating leases is generally recognised on a straight-line basis over the term of the relevant lease. Where the rentals are structured solely to increase in line with expected general inflation to compensate for the lessor’s expected inflationary cost increases, such increases are recognised in the year in which such benefits accrue. Contingent rentals arising under operating leases are recognised as an expense in the period in which they are incurred.

(p) Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to the equity shareholders by the weighted average number of equity shares outstanding during the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events, such as bonus issue, bonus element in a rights issue and shares split that have changed the number of equity shares outstanding, without a corresponding change in resources.

For the purpose of calculating Diluted Earnings per share, the net profit or loss for the period attributable to the equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.

TECHNOJET CONSULTANTS LIMITED

Notes to financial statements for the year ended 31[st] March, 2020

(q) Taxation

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the statement of profit and loss because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company’s current tax is calculated using tax rates that have been enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against those deductible temporary differences which can be utilised. Such deferred tax assets and liabilities are not recognised if the temporary difference arises from the initial recognition of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit. In addition, deferred tax liabilities are not recognised if the temporary difference arises from the initial recognition of goodwiil.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax for the year

Current and deferred tax are recognised in statement of profit and loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised in other comprehensive income or directly in equity respectively.

TECHNOJET CONSULTANTS LIMITED

Notes to Financial Statements for the year ended 31st March, 2020

3 Property, Plant and Equipment

	Description of Assets I. Gross Block Balance at April 1, 2018 Additions Disposals Balance at March 31, 2019 Additions Disposals Balance at March 31, 2020 II. Accumulated depreciation and impairment Balance at April 1, 2018 Depreciation expense for the year Balance at March 31, 2019 Depreciation expense for the year Balance at March 31, 2020 III. Net block (I-II) Balance at March 31, 2020 Balance at March 31, 2019	(Amount in INR) Electrical Installation Furniture & Fixture Total 1 1 2 - - - - - - 1 1 2 - - - - - - 1 1 2 - - - - - - - - - - - - - - - 1 1 2 1 1 2

4 Investment Property

Balance at March 31, 2020
II. Accumulated depreciation
Balance at April 1, 2018
Depreciation expense for the year
Balance at March 31, 2019
Depreciation expense for the year
Balance at March 31, 2020
Balance at March 31, 2019
Disposals
Balance at 31 March, 2019
Additions
Disposals
III. Net block (I-II)
Balance at March 31, 2020
Description of Assets
I. Gross Block
Balance at April 1, 2018
Additions

(Amount in INR)
Leasehold Land
Factory
Building
Total
66,785
26,925
93,710
-
-
-
-
-
-
66,785
26,925
93,710
-
-
-
-
-
-
66,785
26,925
93,710
22,762
2,288
25,050
675
-
675
23,437
2,288
25,725
675
-
675
24,112
2,288
26,400
42,673
24,637
67,310
43,348
24,637
67,985

The Company has given land and building on operating lease admeasuring approximately 2500 sq. feet situated at C-1B / 519 G. I. a) D. C., Gundlav, Valsad.

The Company is unable to determine fair value of the said property reliably since comparable market transactions are infrequent b) and alternative reliable measurements of fair value are not available.

c) There is no direct operating expense that generates rental income.

TECHNOJET CONSULTANTS LIMITED

Notes to Financial Statements for the year ended 31st March, 2020

5 INVESTMENTS - NON CURRENT

Investment in Equity Instruments At fair value through Other Comprehensive Income Unquoted, fully paid - up Equity Shares INR 10 each Aggregate carrying value of unquoted investments Aggregate amount of impairment in the value of investment INOR Medical Products Limited TOTAL Particulars Paid up Value / Face	(Amount in INR) No. of Shares (INR) No. of Shares (INR) 48,000 - 48,000 7,23,196 - 7,23,196 - 7,23,196 7,23,196 - 31st March, 2019 As at As at 31st March, 2020

Net Worth of INOR Medical Products Limited as on 31st March, 2020 is NIL. Subsequently value of INOR Medical Products Limited 48,000 Equity Shares of INR 10 each held by the Company is NIL as on 31st March, 2020. Valuation of these shares calculated by Net Asset Value method as per the requirement of Ind AS.

TECHNOJET CONSULTANTS LIMITED

Notes to Financial Statements for the year ended 31st March, 2020

6 CASH AND CASH EQUIVALENT

CASH AND CASH EQUIVALENT
			(Amount in INR)
Particulars	As at 31st March, 2020		As at 31st March, 2019
Balances with banks in current accounts		30,011		7,31,740
Cheques in hand		-		275
Cash on hand		2,455		3,442
TOTAL		32,466		7,35,457

7 OTHER BANK BALANCES

OTHER BANK BALANCES
		(Amount in INR)
Particulars	As at 31st March, 2020	As at 31st March, 2019
Deposit under Escrow Accounts (Refer Note below)	27,945	27,945
Bank Deposit with maturity less than twelve months	82,08,066	79,11,200
TOTAL	82,36,011	79,39,145

Note: The deposit under the Investment Deposit Scheme,1986 is a designated account under the scheme to be operated only for the purpose of acquisition of assets or repayment of term loans.

8 CURRENT TAX ASSETS

CURRENT TAX ASSETS
			(Amount in INR)
Particulars	As at 31st March, 2020		As at 31st March, 2019
Advance income tax
(Net of provision for tax Rs. 345,500/- previous year Rs.		70,313		1,54,878
360,500/-)
TOTAL		70,313		1,54,878

9 DEFERRED TAX ASSETS

DEFERRED TAX ASSETS
			(Amount in INR)
Particulars	As at 31st March, 2020		As at 31st March, 2019
Deferred tax on account of equity shares through other comprehensive income (Refer note 19)		3,509	-
TOTAL		3,509	-

10 OTHER CURRENT ASSETS

	(Amount in INR) As at As at 31st March, 2020 31st March, 2019 8,540 8,509 3,240 - 11,780 8,509 Particulars Prepaid expenses Input Goods & Service Tax (GST) TOTAL

TECHNOJET CONSULTANTS LIMITED

Notes to Financial Statements for the year ended 31st March, 2020

11 EQUITY SHARE CAPITAL

Authorised 200,000 Equity Shares of INR 10 each Issued , Subscribed and Paid Up 200,000 Equity Shares of INR 10 each fully paid up Total	As at As at As at As at 31st March, 2020 31st March, 2019 31st March, 2020 31st March, 2019 2,00,000 2,00,000 20,00,000 20,00,000 2,00,000 2,00,000 20,00,000 20,00,000 2,00,000 2,00,000 20,00,000 20,00,000 Number of Shares Amount in INR

a) Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the reporting period:

Equity Shares At the beginning of the year Add: Shares issued during the year Outstanding at the end of the year	As at As at As at As at 31st March, 2020 31st March, 2019 31st March, 2020 31st March, 2019 2,00,000 2,00,000 20,00,000 20,00,000 - - - - 2,00,000 2,00,000 20,00,000 20,00,000 Number of Shares Amount in INR

b) Rights, preferences and restrictions attached to Equity Shares

The Company has one class of equity shares having a par value of INR 10/- per share. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

c) The details of shareholders holding more than 5% shares in the Company

Nowrosjee Wadia & Sons Ltd. Goodeed Charitable Foundation Ness Nusli Wadia	As at As at As at As at 31st March, 2020 31st March, 2019 31st March, 2020 31st March, 2019 13,800 13,800 6.90 6.90 86,943 86,943 43.47 43.47 38,950 38,950 19.48 19.48 Number of Shares % Holding

d) Information regarding issue of shares during last five years

i) No shares were alloted pursuant to contracts without payment being recevied in cash. ii) No bonus shares have been issued. iii) No shares have been bought back.

TECHNOJET CONSULTANTS LIMITED

Notes to Financial Statements for the year ended 31st March, 2020

12 OTHER EQUITY

OTHER EQUITY
		(Amount in INR)
Particulars	As at 31st March, 2020	As at 31st March, 2019
General Reserve	10,08,990	10,08,990
Surplus in the statement of profit and loss	53,29,437	58,38,539
Items of Other Comprehensive Income:
- Equity instruments through other comprehensive income	(6,536)	5,66,235
TOTAL	63,31,891	74,13,764

Nature and purpose of reserves

a) General Reserve

Mandatory transfer to general reserve is not required under the Companies Act, 2013. There is no movement in General Reserve during the current and previous year.

b) Surplus in the statement of profit and loss

This represents the profits that the Company has earned till date, less any transfer to general reserve, dividends or other distributions paid to shareholders.

c) Equity instruments through other comprehensive income

The fair value change of the equity instruments measured at fair value through other comprehensive income is recognised in equity instruments through other omprehensive income. On disposal, the cumulative fair value changes on the said instruments will be reclassified to free reserves.

13 DEFERRED TAX LIABILITIES (NET)

DEFERRED TAX LIABILITIES (NET)
			(Amount in INR)
Particulars	As at 31st March,	2020	As at 31st March, 2019
Deferred tax on account of equity shares through other comprehensive income (Refer note 19)		-	1,46,916
TOTAL		-	1,46,916

14 OTHER CURRENT LIABILITIES

	(Amount in INR) As at As at 31st March, 2020 31st March, 2019 Advance from Customer - Statutory dues 33,700 10,100 Other Liabilities 55,800 58,392 TOTAL 89,500 68,492 Particulars

TECHNOJET CONSULTANTS LIMITED

Notes to Financial Statements for the year ended 31st March, 2020

15 OTHER INCOME

Rent Interest income - on term deposit - on income tax refund Profit on sale of mutual funds Unclaimed balances / excess provisions written back Other Income TOTAL Particulars	(Amount in INR) Year Ended Year Ended 31st March, 2020 31st March, 2019 4,80,000 6,60,000 33,902 1,05,977 4,662 - 4,31,132 4,61,463 - 2,040 - 274 9,49,696 12,29,754

16 EMPLOYEE BENEFIT EXPENSE

Salaries, wages and bonus TOTAL Particulars	(Amount in INR) Year Ended Year Ended 31st March, 2020 31st March, 2019 4,56,642 2,02,856 4,56,642 2,02,856

17 DEPRECIATION AND AMORTISATION EXPENSES

Depreciation on investment property TOTAL Particulars	(Amount in INR) Year Ended Year Ended 31st March, 2020 31st March, 2019 675 675 675 675

18 OTHER EXPENSES

Rates & taxes Professional fees Advertisement expenses Listing fees Custodian fees Auditor's remuneration - Audit fees (Inclusive of taxes) Other expenses TOTAL Particulars	(Amount in INR) Year Ended Year Ended 31st March, 2020 31st March, 2019 - 15,000 3,58,964 66,336 73,473 76,644 3,54,000 2,95,000 28,320 21,420 81,480 93,000 59,536 54,322 9,55,773 6,21,722

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TECHNOJET CONSULTANTS LIMITED
Notes to Financial Statements for the year ended 31st March, 2020
19 Tax Expense and Deferred Tax
(Amount in INR)
A Tax expense from continuing operations
Year Ended Year Ended
Particulars
31st March, 2020 31st March, 2019
Current tax - 78,000
-
Prior year tax adjustments 45,708
Total 45,708 78,000
Effective tax rate reconciliation
Year Ended Year Ended
Particulars
31st March, 2020 31st March, 2019
(Loss) / Profit before tax (4,63,394) 4,04,501
Company's domestic tax rate: 19.24% 19.24%
-
Tax using the Company’s domestic tax rate 78,000
B Deferred tax liabilities (net)
Year Ended Year Ended
Particulars
31st March, 2020 31st March, 2019
-
Tax effect on change in fair value of equity investments 1,46,916
-
1,46,916
Reconciliation
Year Ended Year Ended
Particulars
31st March, 2020 31st March, 2019
Opening Balance of Deferred tax 1,46,916 1,46,264
Recognised in/ reclassified from other comprehensive income (1,46,916) 652
-
Closing balance of Deferred tax 1,46,916
C Deferred tax assets (net)
Year Ended Year Ended
Particulars
31st March, 2020 31st March, 2019
-
Tax effect on change in fair value of equity investments 3,509
3,509 1,46,916
Reconciliation
Year Ended Year Ended
Particulars
31st March, 2020 31st March, 2019
- -
Opening Balance of Deferred tax
-
Recognised in/ reclassified from other comprehensive income 3,509
-
Closing balance of Deferred tax 3,509
20 Earnings per equity share
Year Ended Year Ended
Particulars
31st March, 2020 31st March, 2019
(Loss) / Profit attributable to equity shareholders (in INR) (5,09,102) 3,26,501
Weighted average number of equity shares outstanding 2,00,000 2,00,000
Earnings per equity share of nominal value INR 10/- each
Basic (in INR) (2.55) 1.63
Diluted (in INR) (2.55) 1.63
21 Contingent Liabilities (to the extent not provided for)
Year Ended Year Ended
Particulars
31st March, 2020 31st March, 2019
-
Penalty imposed by SEBI u/s 15HB of SEBI Act, not acknowledged as debt 1,00,000
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TECHNOJET CONSULTANTS LIMITED

Notes to Financial Statements for the year ended 31st March, 2020

22 Financial Instruments

A Accounting classification and fair values

Carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy, are presented below. Financial assets and financial liabilities such as cash and cash equivalents and other bank balances of which the carrying amount is a reasonable approximation of fair value due to their short term nature, are disclosed at carrying value.

Particulars Financial assets Non-current Measured at fair value through comprehensive income (FVOCI) – Investment in equity shares Current Measured at Amortised Cost – Investment in preference shares – Cash and cash equivalents – Other bank balances Financial liabilities	(Amount in INR) As at 31st March, 2020 As at 31st March, 2019 Fair Value Hierarchy other - 7,23,196 Level 3 - - 32,466 7,35,457 82,36,011 79,39,145 - -

B Fair Value Hierarchy

The fair value of financial instruments as referred to in note (A) above have been classified into three categories depending on the inputs used in the valuation technique. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and lowest priority to unobservable inputs (Level 3 measurements).

Level1 : quoted prices (unadjusted) in active market for identical assets or liabilities Level2 : inputs other than quoted prices included in Level 1 that are observable for the asset or liability, directly (i.e. as prices ) or indirectly (i.e. derived from prices)

Level3 : inputs for the asset or liability that are not based on observable market data (unobservable inputs)

C Measurement of Fair Values

Valuation techniques and significant unobservable inputs

The following tables show the valuation techniques used in measuring Level 3 items for the year ended 31st March, 2020 and 31st March, 2019 using significant unobservable inputs used.

Type				Valuation Technique
Investments	in	equity	shares	Net worth of the Company

TECHNOJET CONSULTANTS LIMITED

Notes to Financial Statements for the year ended 31st March, 2020

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23 Financial risk management
The Company is only exposed to credit risk. Company has limited type of financial instruments and
therefore is not exposed much to the risks attached to the financial instruments. The Company's Board of
Directors has overall responsibility for the establishment and oversight of the Company’s risk management
framework. This note explains the sources of risk which the entity is exposed to and how the entity
manages the risk and the related impact in the financial statements.
i) Market Risk
Company does not deal in transactions in currency other than its functional currency therefore it is not
exposed to foreign currency exchange risk. Additionally, Company does not have exposures to interest
bearing securities.
ii) Credit risk management
Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in
financial loss to the Company. The Company's credit risk arises principally from cash & cash equivalents.
The credit risk on liquid funds/ balances with banks is limited because the counterparties are banks or
financial institutions with high credit-ratings assigned by credit-rating agencies. As at balance sheet date,
the Company does not have significant concentration of credit risk.
iii) Liquidity risk management
The Company does not have any borrowings, hence it is not exposed to liquidity risk.
24 Capital Risk Management
The Company manages its capital to ensure that Company will be able to continue as going concern while
maximizing the return through the optimization of the debt and equity balance.
The Company's capital requirement is mainly to fund its working capital requirements. The principal
source of funding for the Company was internal accounts fund operations. The Company is not subject to
any externally imposed capital requirements.
25 Assets given on Lease :
The Company has given factory building on lease. The total rent receipts recognized in the statement of
profit and loss is INR 480,000 (previous year INR 480,000). The total future minimum lease receipts is
given below:
(Amount in INR)
As at As at
31st March, 2020 31st March, 2019
In less than a year 4,80,000 4,80,000
In 1 year to 5 years 5,20,000 5,20,000
In more than 5 years - -
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TECHNOJET CONSULTANTS LIMITED

Notes to Financial Statements for the year ended 31st March, 2020

There were no transactions with Micro, Small and Medium Enterprises during the year as per the information provided by the management.

27 Related Party Disclosures:

a) List of related parties and relationships:

i) Key Managerial Personnel

a) Mrs. Sugandha Goyal - Company Secretary / Chief Financial Officer (w.e.f. 12.06.2020)

b) Mrs. Amisha Rajput - Company Secretary / Chief Financial Officer (w.e.f. 18.03.2019 till 06.02.2020) c) Mr. Vipul D. Panchal - Manager (w.e.f. 05.02.2020 till date)

Details of transaction with related parties Nature of Transactions Salary to - Mrs. Amisha Rajput Total	(Amount in INR) Year Ended Year Ended 31st March, 2020 31st March, 2019 4,07,040 2,02,856 4,07,040 2,02,856 Key Managerial Personnel

b) Details of transaction with related parties
c) There is no outstanding balance payable or receivable from related parties.

The Company has a single segment and hence there are no separate reportable segments under Indian Accounting Standard (Ind AS) 108 'Operating Segments'.

Dividend

The Board of Directors of the Company have not recommended any dividend for the financial year ended March 31,2020.

Subsequent Events

There are no significant subsequent events that would require adjustments or disclosures in the financial statements as on the balance sheet date.

31 The financial statements were authorised for issue by the Board of Directors on 24th June, 2020.

Figures for the previous year have been regrouped / restated wherever necessary.

As per our report attached For and on behalf of the Board of Directors For KALYANIWALLA & MISTRY LLP Technojet Consultants Limited Chartered Accountants CIN: L74210MH1982PLC027651 Firm Regn No. 104607W/W100166

Jamshed K. Udwadia Mr. J. C. Bham Mr. S. Raja Partner Director Director M.No. 124658 DIN : 02806038 DIN : 03149272

Date: 24th June, 2020 Mrs. Sugandha Goyal Place: Mumbai Company Secretary / Chief Financial Officer Date: 24th June, 2020 Place: Mumbai

TECHNOJET CONSULTANTS LIMITED

Registered Off: Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai - 400001 Admin Off: C-1, Wadia International Centre, P. Budhkar Marg, Worli, Mumbai - 400025 [ CIN: L74210MH1982PLC027651 ] [Email: [email protected]] [Website: www.technojet.in] [Tel Nos: 022 66620000] [Fax Nos: 022 67495200]

PROXY FORM

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

Name and Address of the Shareholder

Email Id Registered Folio No./DP ID & Client ID

I/We, being the member(s) of __________ shares of the above named Company, hereby appoint:

Name: ______ resident of _____ Email: ____Signature __ or failing him/her, 2. Name: _____ resident of ____ Email: ____Signature __ or failing him/her, 3. Name: _____ resident of ____ Email: ____Signature ______

as my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the Annual General Meeting of the Company to be held at the Administrative Office of the Company at C-1, Wadia International Centre, P. Budhkar Marg, Worli, Mumbai - 400025 on Thursday, 20[th] August, 2020 at 05.00 p.m. and at any adjournment thereof in respect of such resolutions as are indicated on the reverse of this page:

==> picture [462 x 276] intentionally omitted <==

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

Resolution Resolutions For Against
No.
Ordinary Business
1 To receive, consider and adopt the Audited Financial Statements
of the Company for the financial year ended March 31, 2020
together with the Reports of the Board of Directors and the
Auditors thereon.
2 To appoint a Director in place of Mrs. Bakhtavar Ady Pardiwalla
(DIN:06721889), who retires by rotation in terms of Section
152(6) of the Companies Act, 2013 and being eligible, offers
herself for re-appointment
3 To consider the re-appointment of the Current Statutory Auditors,
M/s. Kalyaniwalla & Mistry LLP, Chartered Accountants (Firm
Registration No. 104607W / W100166) as the Statutory Auditors
of the Company for the second term and to fix their remuneration
Special Business
4 To consider appointment of Mr. Vipul Panchal as the Manager
for the Company.
----- End of picture text -----

Affix Re. 1/Revenue Stamp Signed this ___ day of ___ 2020 Member’s Folio/DP ID-Client ID No. _______

____ ______ Signature of the Member Signature of Proxy

Notes:

(1) This form of proxy in order to be effective should be duly completed and deposited at the Registered Office of the Company not less than 48 hours before the commencement of the meeting.
(2) For the Resolution please refer to the Notice of the 38[th] Annual General Meeting.
(3) Please put a ‘X’ in the appropriate column against the resolutions indicated in the Box. If you leave the ‘For’ or ‘Against’ column blank against any or all the resolutions, your Proxy will be entitled to vote in the manner as he/she thinks appropriate.
(4) Please complete all details including details of member(s) in above box before submission.

TECHNOJET CONSULTANTS LIMITED

Registered Off: Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai 400 001 Admin Off: C-1, Wadia International Centre, P. Budhkar Marg, Worli, Mumbai - 400 025 [ CIN: L74210MH1982PLC027651 ] [Email: [email protected]] [Website: www.technojet.in] [Tel Nos: 022 66620000] [Fax Nos: 022 67495200]

ATTENDANCE SLIP

ANNUAL GENERAL MEETING – Thursday, 20[th] August, 2020

Name and Address of the : Shareholder

Email Id : Registered Folio No/DP ID & : Client ID

No. of Shares held : Name of the Proxy :

____________ (To be filled-in if the Proxy Form has been duly deposited with the Company)

I certify that I am a registered Member/Proxy for the registered Member of the Company. I hereby record my presence at the Annual General Meeting of the Company to be held at the Administrative Office of the Company at C-1, Wadia International Centre, P. Budhkar Marg, Worli, Mumbai - 400025 on Thursday, 20[th] August 2020 at 5.00 p.m.

Name of the Member/Proxy Signature of Member/Proxy

____ ________ Name of the Member/Proxy Signature of the Member/Proxy

NOTE :

1) Members/Proxy holders are requested to bring this Attendance Slip to the Meeting and hand over the same at the entrance duly signed.
2) Shareholder / Proxy holder desiring to attend the meeting may bring his / her copy of the Notice of the Annual General Meeting for reference at the meeting.
3) Kindly refer to the e-voting instructions on the reverse of this page.

AI assistant

Technojet Consultants Ltd. — Annual Report 2020

64091_rns_2020-07-28_fbbd3153-7ec7-42a8-83f6-54c46d1e2de0.pdf

Scrip Code: 509917

TECHNOJET CONSULTANTS LIMITED ANNUAL REPORT FINANCIAL YEAR 2019-20

CORPORATE INFORMATION

DIRECTORS

COMPANY SECRETARY & CHIEF FINANCIAL OFFICER

REGISTERED OFFICE

CORPORATE OFFICE:

AUDITORS

REGISTRAR & TRANSFER AGENT

Corporate Office:

Mumbai Office:

CONTENTS

TECHNOJET CONSULTANTS LIMITED [ CIN: L74210MH1982PLC027651 ]

N O T I C E

Ordinary Business :

Special Business:

4. To consider appointment of Mr. Vipul Panchal as the Manager for the Company

Notes:

USER ID PASSWORD

Registered Office:

Explanatory Statement pursuant to Section 102(1) of the Companies Act, 2013

Item No. 3

Item No. 4

Item No. 2

Details of the Director seeking re-appointment

Item No. 4

ROUTE MAP

TECHNOJET CONSULTANTS LIMITED

DIRECTOR’S REPORT TO THE MEMBERS

1. FINANCIAL RESULTS:

2. DIVIDEND:

3. OPERATIONS:

4. HOLDING AND SUBSIDIARIES:

5. DEPOSITS:

6. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

7. RELATED PARTY TRANSACTIONS:

8. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:

9. EXTRACT OF ANNUAL RETURN AS REQUIRED AND PRESCRIBED UNDER SECTION 92(3) OF THE COMPANIES ACT, 2013 AND RULES MADE THEREUNDER:

10. DIRECTORS AND KEY MANGERIAL PERSONNEL:

DIRECTOR RETIRING BY ROTATION

APPOINTMENT OF MANAGER

11. MEETING OF THE BOARD OF DIRECTORS

12. BOARD EVALUATION

13. NOMINATION AND REMUNERATION POLICY/ CHARTER

14. INDEPENDENT DIRECTORS MEETING

15. AUDIT COMMITTEE:

16. NOMINATION AND REMUNERATION COMMITTEE:

17. DIRECTORS’ RESPONSIBILITY STATEMENT:

18. PARTICULARS OF EMPLOYEES:

19. AUDITORS:

Statutory Auditors

Secretarial Auditor

Internal Auditors

20. AUDITORS QUALIFICATIONS:

21. SIGNIFICANT OR MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS:

22. MATERIAL CHANGES:

23. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

24. RISK MANAGEMENT POLICY:

26. CODE OF CONDUCT

27. PREVENTION OF INSIDER TRADING CODE:

28. CORPORATE SOCIAL RESPONSIBILTY:

29. CORPORATE GOVERNANCE:

30. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

31. COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD AND ANNUAL GENERAL MEETINGS .

32. APPRECIATION:

By Order of the Board of Directors

Since there is no common denomination for the period of 2 years, comparison of remuneration of Directors to Employees and comparison of remuneration of KMP against the performance of the company cannot be provided.

Details not stated as Ms. Amisha Rajput resigned as Company Secretary and Chief Financial Officer of the Company w.e.f. the close of working hours of February 06, 2020.

FORM No. MR-3

SECRETARIAL AUDIT REPORT

To, The Members TECHNOJET CONSULTANTS LIMITED

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF TECHNOJET CONSULTANTS LIMITED

Report on the Audit of the Ind AS Financial Statements

Opinion

Basis of Opinion

Key Audit Matters

Technojet Consultants Ltd. Annual Report 2020