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Adani Infrastructure Management Services 2022 Annual Report.pdf

Adani Infrastructure Management Services 2022 Annual Report

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ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED
Standalone Financial Statements for period 01/04/2021 to 31/03/2022
[700300] Disclosure of general information about company
Unless otherwise specified, all monetary values are in Crores of INR
01/04/2021
to
31/03/2022
01/04/2020
to
31/03/2021
Name of company
ADANI INFRASTRUCTURE
MANAGEMENT SERVICES
LIMITED
Corporate identity number U74999GJ2017PLC097813
Permanent account number of entity AAPCA6798M
Address of registered office of company
Adani Corporate House,
Shantigram, , Near
Vaishno Devi Circle, S.
G. Highway, Khodiyar, ,
Ahmedabad , GUJARAT ,
INDIA - 382421
Type of industry
Commercial and
Industrial
Date of board meeting when final accounts were approved 21/05/2022
Date of start of reporting period 01/04/2021 01/04/2020
Date of end of reporting period 31/03/2022 31/03/2021
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Crores
Type of cash flow statement Indirect Method
Whether company is maintaining books of account and other relevant
books and papers in electronic form
Yes
Complete postal address of place of maintenance of computer
servers (storing accounting data)
Google Cloud India
Pvt Ltd, 7th Floor ,
FIFC Building, Plot No.
C 54 & 55, G Block, Bandra
Kurla Complex, Bandra
(East)
Name of city of place of maintenance of computer servers (storing
accounting data)
Mumbai
Name of state/ union territory of place of maintenance of
computer servers (storing accounting data)
Maharashtra
Pin code of place of maintenance of computer servers (storing
accounting data)
400098
Name of district of place of maintenance of computer servers
(storing accounting data)
Mumbai
ISO country code of place of maintenance of computer servers
(storing accounting data)
+91 IN
Name of country of place of maintenance of computer servers
(storing accounting data)
INDIA
Phone (with STD/ ISD code) of place of maintenance of computer
servers (storing accounting data)
079-25555650
2
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Disclosure of principal product or services [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Types of principal product or services [Axis] 1
01/04/2021
to
31/03/2022
Disclosure of general information about company [Abstract]
Disclosure of principal product or services [Abstract]
Disclosure of principal product or services [LineItems]
Product or service category (ITC 4 digit) code 9954
Description of product or service category
Construction/erection
and maintenance of
p o w e r ,
telecommunication
and transmission
lines
Turnover of product or service category 593.63
Highest turnover contributing product or service (ITC 8 digit) code 99542119
Description of product or service
Construction/erection
and maintenance of
p o w e r ,
telecommunication
and transmission
lines
Turnover of highest contributing product or service 593.63
[700600] Disclosures - Directors report
Details of shareholding pattern of top 10 shareholders [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Name of top 10 shareholder [Axis] Name of top 10 shareholder [Member]
Change in shareholding [Axis] Shareholding [Member]
31/03/2022 31/03/2021
Total number of shares held at end of period [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00%
Total number of shares held at end of period [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00%
Total number of shares held at end of period [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00%
Details of shareholding pattern of top 10 shareholders [Abstract]
Details of shareholding pattern of top 10 shareholders [LineItems]
Total number of shares held at end of period [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00%
Total number of shares held at end of period [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00%
3
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Details of shareholding pattern [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Shareholding pattern [Axis] Shareholders [Member] Promoters [Member]
01/04/2021
to
31/03/2022
31/03/2021
01/04/2021
to
31/03/2022
31/03/2021
Details of shareholding pattern [Abstract]
Details of shareholding pattern [LineItems]
Number of demat shares held at end of period [shares] 9,994 [shares] 9,994 [shares] 9,994 [shares] 9,994
Number of physical shares held end of period [shares] 6 [shares] 6 [shares] 6 [shares] 6
Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00% 100.00% 100.00%
Percentage of change in shares held during year 0.00% 0.00%
Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00% 100.00% 100.00%
Percentage of change in shares held during year 0.00% 0.00%
Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of
period
100.00% 100.00% 100.00% 100.00%
Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00% 100.00% 100.00%
Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of
period
100.00% 100.00% 100.00% 100.00%
Details of shareholding pattern [Table] ..(2)
Unless otherwise specified, all monetary values are in Crores of INR
Shareholding pattern [Axis] Indian [Member] Corporate bodies [Member]
01/04/2021
to
31/03/2022
31/03/2021
01/04/2021
to
31/03/2022
31/03/2021
Details of shareholding pattern [Abstract]
Details of shareholding pattern [LineItems]
Number of demat shares held at end of period [shares] 9,994 [shares] 9,994 [shares] 9,994 [shares] 9,994
Number of physical shares held end of period [shares] 6 [shares] 6 [shares] 0 [shares] 0
Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 9,994 [shares] 9,994
Percentage of total shares held at end of period 100.00% 100.00% 99.94% 99.94%
Percentage of change in shares held during year 0.00% 0.00%
Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 9,994 [shares] 9,994
Percentage of total shares held at end of period 100.00% 100.00% 99.94% 99.94%
Percentage of change in shares held during year 0.00% 0.00%
Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 9,994 [shares] 9,994
Percentage of total shares held at end of
period
100.00% 100.00% 99.94% 99.94%
Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 9,994 [shares] 9,994
Percentage of total shares held at end of period 100.00% 100.00% 99.94% 99.94%
Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 9,994 [shares] 9,994
Percentage of total shares held at end of
period
100.00% 100.00% 99.94% 99.94%
4
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Details of shareholding pattern [Table] ..(3)
Unless otherwise specified, all monetary values are in Crores of INR
Shareholding pattern [Axis] Other [Member]
01/04/2021
to
31/03/2022
31/03/2021
Details of shareholding pattern [Abstract]
Details of shareholding pattern [LineItems]
Number of demat shares held at end of period [shares] 0 [shares] 0
Number of physical shares held end of period [shares] 6 [shares] 6
Total number of shares held at end of period [shares] 6 [shares] 6
Percentage of total shares held at end of period 0.06% 0.06%
Percentage of change in shares held during year 0.00%
Total number of shares held at end of period [shares] 6 [shares] 6
Percentage of total shares held at end of period 0.06% 0.06%
Percentage of change in shares held during year 0.00%
Total number of shares held at end of period [shares] 6 [shares] 6
Percentage of total shares held at end of period 0.06% 0.06%
Total number of shares held at end of period [shares] 6 [shares] 6
Percentage of total shares held at end of period 0.06% 0.06%
Total number of shares held at end of period [shares] 6 [shares] 6
Percentage of total shares held at end of period 0.06% 0.06%
Details of indebtedness of company [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Indebtedness [Axis] Indebtedness [Member]
Secured loans excluding deposits
[Member]
01/04/2021
to
31/03/2022
31/03/2021
01/04/2021
to
31/03/2022
31/03/2021
Details of indebtedness of company [Abstract]
Details of indebtedness of company [LineItems]
Changes in indebtedness [Abstract]
Addition in indebtedness 461.74 0
Reduction in indebtedness 181 (A) 172.34
Total changes in indebtedness 280.74 -172.34
Principal amount at end of financial year 1,294.53 1,013.79 530.31 702.65
Interest due but not paid at end of financial
year
0 0 0 0
Interest accrued but not due at end of
financial year
16.23 23 3.95 5.64
Total indebtedness at end of financial year 1,310.76 1,036.79 534.26 708.29
(A) (Amount in Cr.)
Reduction 175.55
Less:Adjustment (Amorisation during the Year) (3.21177)
Net Reduction 172.3382
Details of indebtedness of company [Table] ..(2)
Unless otherwise specified, all monetary values are in Crores of INR
Indebtedness [Axis] Unsecured loans [Member]
01/04/2021
to
31/03/2022
31/03/2021
Details of indebtedness of company [Abstract]
Details of indebtedness of company [LineItems]
Changes in indebtedness [Abstract]
Addition in indebtedness 461.74
Reduction in indebtedness 8.66
Total changes in indebtedness 453.08
Principal amount at end of financial year 764.22 311.14
Interest due but not paid at end of financial year 0 0
Interest accrued but not due at end of financial year 12.28 17.36
Total indebtedness at end of financial year 776.5 328.5
5
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Details of directors signing board report [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Directors signing board report [Axis] 1
01/04/2021
to
31/03/2022
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
First name of director
ANIL KUMAR
GUPTA
Designation of director DIRECTOR
Director identification number of director 06859132
Date of signing board report 21/05/2022
Details of principal business activities contributing 10% or more of total turnover of company [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Principal business activities of company [Axis]
Product/service 1
[Member]
01/04/2021
to
31/03/2022
Details of principal business activities contributing 10% or more of total turnover of company [Abstract]
Details of principal business activities contributing 10% or more of total turnover of company
[LineItems]
Name of main product/service
Construction/erection
and maintenance
Description of main product/service
Construction/erection
and maintenance of
p o w e r ,
telecommunication
and transmission
lines
NIC code of product/service 42202
Percentage to total turnover of company 100.00%
6
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Unless otherwise specified, all monetary values are in Crores of INR
01/04/2021
to
31/03/2022
31/03/2021
Disclosure in board of directors report explanatory [TextBlock]
Textual information (1)
[See below]
Description of state of companies affair
Textual information (2)
[See below]
Disclosure relating to amounts if any which is proposed to carry to any
reserves
Textual information (3)
[See below]
Disclosures relating to amount recommended to be paid as dividend
Textual information (4)
[See below]
Details regarding energy conservation
Textual information (5)
[See below]
Details regarding technology absorption
Textual information (6)
[See below]
Details regarding foreign exchange earnings and outgo
Textual information (7)
[See below]
Disclosures in director’s responsibility statement
Textual information (8)
[See below]
Details of material changes and commitment occurred during period
affecting financial position of company
No material changes and
commitments have
occurred between the end
of financial year of the
company and the date of
this report affecting the
financial position of the
company as at 31st March,
2022.
Particulars of loans guarantee investment under section 186 [TextBlock]
Textual information (9)
[See below]
Particulars of contracts/arrangements with related parties under section
188(1) [TextBlock]
Textual information (10)
[See below]
Details of contracts/arrangements/transactions not at arm's length
basis [Abstract]
Whether there are contracts/arrangements/transactions not at arm's
length basis
No
Details of material contracts/arrangements/transactions at arm's
length basis [Abstract]
Whether there are material contracts/arrangements/transactions at
arm's length basis
No
Date of board of directors' meeting in which board's report referred
to under section 134 was approved
21/05/2022
Disclosure of extract of annual return as provided under section 92(3)
[TextBlock]
Textual information (11)
[See below]
Details of principal business activities contributing 10% or more
of total turnover of company [Abstract]
Particulars of holding, subsidiary and associate companies [Abstract]
Name of company
ADANI INFRASTRUCTURE
MANAGEMENT SERVICES
LIMITED
Details of shareholding pattern [Abstract]
Number of demat shares held at end of period [shares] 9,994 [shares] 9,994
Number of physical shares held end of period [shares] 6 [shares] 6
Total number of shares held at end of period [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00%
Percentage of change in shares held during year 0.00%
Details of shareholding of promoters [Abstract]
Total number of shares held at end of period [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00%
Percentage of change in shares held during year 0.00%
Details of change in promoters shareholding [TextBlock]
Details of change in promoters’ shareholding [Abstract]
Total number of shares held at end of period [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00%
Details of shareholding pattern of top 10 shareholders [Abstract]
Total number of shares held at end of period [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00%
Details of shareholding pattern of directors and key managerial
personnel [TextBlock]
Details of shareholding pattern of directors and key managerial
personnel [Abstract]
Total number of shares held at end of period [shares] 10,000 [shares] 10,000
Percentage of total shares held at end of period 100.00% 100.00%
Details of indebtedness of company [Abstract]
Changes in indebtedness [Abstract]
7
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Addition in indebtedness 461.74
Reduction in indebtedness 181
Total changes in indebtedness 280.74
Principal amount at end of financial year 1,294.53 1,013.79
Interest due but not paid at end of financial year 0 0
Interest accrued but not due at end of financial year 16.23 23
Total indebtedness at end of financial year 1,310.76 1,036.79
Disclosure of statement on declaration given by independent directors
under section 149(6) [TextBlock] NA
Disclosure for companies covered under section 178(1) on
directors appointment and remuneration including other matters
provided under section 178(3) [TextBlock]
NA
Disclosure of statement on development and implementation of risk
management policy [TextBlock]
Textual information (12)
[See below]
Details on policy development and implementation by company on
corporate social responsibility initiatives taken during year
[TextBlock]
Textual information (13)
[See below]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
Disclosure of financial summary or highlights [TextBlock]
Textual information (14)
[See below]
Disclosure of change in nature of business [TextBlock] NA
Details of directors or key managerial personnels who were
appointed or have resigned during year [TextBlock]
NA
Disclosure of companies which have become or ceased to be its
subsidiaries, joint ventures or associate companies during
year [TextBlock]
NA
Details relating to deposits covered under chapter v of companies act
[TextBlock]
During the year
under review, your
Company has not accepted
any deposits within the
meaning of Section 73 of
the Companies Act, 2013
read with rules made
thereunder.
Details of deposits which are not in compliance with requirements
of chapter v of act [TextBlock] NA
Details of significant and material orders passed by
regulators or courts or tribunals impacting going concern
status and company’s operations in future [TextBlock]
Textual information (15)
[See below]
Details regarding adequacy of internal financial controls with
reference to financial statements [TextBlock]
Textual information (16)
[See below]
Disclosure of appointment and remuneration of director or
managerial personnel if any, in the financial year [TextBlock]
Textual information (17)
[See below]
Details of remuneration of director or managerial personnel [Abstract]
Number of meetings of board 12
Details of signatories of board report [Abstract]
Name of director signing board report [Abstract]
8
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Textual information (1)
Disclosure in board of directors report explanatory [Text Block]
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED
5TH ANNUAL REPORT 2021-22
BOARD OF DIRECTORS:
Mr. Vneet S Jaain Director
Mr. Anil Kumar Gupta Director
Mr. Jigar Thakkar Director
Mrs. Maitri Kirankumar Mehta Director
AUDITORS:
M/s. Dharmesh Parikh & Co. LLP
Chartered Accountants
Ahmedabad
REGISTERED OFFICE:
Adani Corporate House,
Shantigram,
Near Vaishno Devi Circle,
S. G. Highway, Khodiyar,
Ahmedabad – 382421
CIN: U74999GJ2017PLC097813
DIRECTORS' REPORT
Dear Shareholders,
Your Directors are pleased to present the 5th Annual Report along with the audited accounts of your Company for the Financial Year ended
31st March, 2022.
FINANCIAL HIGHLIGHTS:
The audited financial statements of the Company as on 31st March, 2022 are prepared in accordance with the relevant applicable IND AS
and provisions of the Companies Act, 2013 (“Act”).
The financial highlight of your Company for the year ended 31st March, 2022 is summarized as below:
(Rs. in Crores)
Particulars For the year ended 31st March, 2022 For the year ended 31st March, 2021
Revenue from operations 593.73 531.28
Other Income 93.71 98.15
Total Revenue 687.44 629.43
Operating & Administrative Expenses 560.87 501.63
Operating Profit before Interest and Tax 126.57 127.8
Finance Costs 88.31 99.66
Profit/(Loss) Before Tax 38.26 28.14
9
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Tax Expense (Including Deferred Tax) 9.91 7.38
Profit / (Loss) After tax 28.35 20.76
Other Comprehensive Income (0.89) (0.73)
Total Comprehensive Income for the Period/year 27.46 20.03
FINANCIAL PERFORMANCE OF THE COMPANY:
Your Company has recorded total income to the tune of Rs. 687.44 Crores during the financial year 2021-22 compared to Rs. 629.43 Crores
in the corresponding previous financial year.
Net Profit for the financial year 2021-22 is Rs. 27.46 Crores as compared to Profit of Rs. 20.76 Crores in the previous financial year.
Earnings per share stood at Rs. 28,350.03 on face value of Rs. 10 each.
DIVIDEND:
In order to conserve resources for operational purposes as well as expansion of business, your Directors have not recommended any dividend
on equity shares for the year. In view of the same, the Directors do not propose to carry any amount to reserves.
MATERIAL CHANGES AND COMMITMENTS:
No material changes and commitments have occurred between the end of financial year of the company and the date of this report affecting
the financial position of the company as at 31st March, 2022.
DEPOSITS:
During the year under review, your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013
read with rules made thereunder.
SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES:
As at March 31, 2022, Your Company continues to be Wholly–owned Subsidiary (“WOS”) of Adani Properties Private Limited (“APPL”).
Since the Company is WOS of APPL, the financials of the Company is consolidated in the financials of APPL pursuant to the provisions of
Section 129, 134 and 136 of the Companies Act, 2013 read with rules framed thereunder and the Company is therefore not required to
prepare the consolidated financial statements separately.
PARTICULARS OF LOANS, GUARANTEE OR INVESTMENT:
The provisions of Section 186 of the Companies Act, 2013, with respect to a loan, guarantee or security is not applicable to the Company as
the Company is engaged in providing infrastructural facilities and is exempted under Section 186 of the Companies Act, 2013. The Company
has not made any investment during the year under review.
DIRECTORS & KEY MANAGERIAL PERSONNEL:
During the year, there is no changes in director(s) of the Company
Pursuant to the requirements of the Companies Act, 2013 and Articles of Association of the Company, Mr. Vneet S Jaain (DIN: 00053906) is
liable to retire by rotation and being eligible offers himself for re-appointment.
DIRECTORS’ RESPONSIBILITY STATEMENT:
Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, state the
following:
a.that in the preparation of the annual financial statements, the applicable accounting standards have been followed along with proper
explanation relating to material departures, if any;
b.that such accounting policies have been selected and applied consistently and judgement and estimates have been made c.that are
reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March, 2022 and of the loss of the
Company for the year ended on that date;
c.that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the
Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
d.that the annual financial statements have been prepared on a going concern basis;
10
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
e.that proper internal financial controls were in place and that the financial control were adequate and were operating effectively;
f.that proper systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating
effectively.
SECRETARIAL STANDARDS:
During the year under review, your company has complied with all the applicable Secretarial Standards.
NUMBER OF BOARD MEETINGS:
In compliance with the Companies Act, 2013 and the rules made thereunder, where permitted, Directors are provided the facility to join the
proceedings of the meeting through video conferencing.
During the period under review, The Board of Directors met 12 (Twelve) times on 01st May, 2021, 03rd June, 2021, 24th July, 2021, 03rd
August, 2021, 14th September, 2021, 25th September, 2021, 26th October, 2021, 15th November, 2021, 01st December, 2021, 29th
December, 2021, 01st February, 2022, and 15th March, 2022. The maximum time gap between any two meetings is not more than 120 days.
11
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
The attendance of each Director at the Board Meetings held during the year under review is as under:
Name of Directors Meetings
Held Attended
Mr. Vneet S Jaain 12 12
Mr. Anil Kumar Gupta 12 12
Mr. Jigar Maneklal Thakkar 12 12
Mrs. Maitri Kirankumar Mehta* 12 4
BOARD EVALUATION:
The Board adopted a formal mechanism for evaluating its performance as well as that of its Committees and individual Directors, including
the Chairman of the Board. The exercise was carried out through a structured evaluation process covering various aspects of the Board
functioning such as composition of the Board & committees, experience & competencies, performance of specific duties & obligations,
contribution at the meetings and otherwise, independent judgment, governance issues etc.
RISK MANAGEMENT:
Your Company has a formal risk assessment and management system which periodically identifies risk areas, evaluates their consequences,
initiates risk mitigation strategies and implements corrective actions where required.
COMMITTEES OF THE BOARD:
Corporate Social Responsibility Committee (CSR):
The Present members of the Corporate Social Responsibility Committee are of Mr. Jigar Thakkar, Mr. Vneet S Jaain and Mr. Anil Kumar
Gupta.
During the year under review a Meeting of CSR Committee was held on 24th July, 2021.
The Company has identified Primary Education, Community Health, Sustainable Livelihood Development and Rural Infrastructure
Development as the core sectors for CSR. The role and functions of the CSR Committee are in conformity with the requirements of Section
135 of the Companies Act, 2013 and the rules made thereunder. The Annual Report on CSR activities is annexed, as Annexure – D which
forms part of this report.
RELATED PARTY TRANSACTIONS:
All the related party transactions entered into during the financial year were in the ordinary course of business and on an arm’s length pricing
basis and none of the transactions with the related parties fall under the scope of Section 188(1) of the Companies Act, 2013. Accordingly,
the disclosure of related party transactions as required under Section 134(3)(h) of the Companies Act, 2013 in Form AOC 2 is not applicable.
Suitable disclosure as required by the Indian Accounting Standards (IND AS 24) has been made in the notes to the Financial Statements.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE
GOING CONCERN STATUS OF THE COMPANY:
There are no significant and material orders passed by the Regulators or Courts or Tribunals which would impact the going concern status
and the Company’s future operations.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:
The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. The Internal Audit
Department monitors and evaluates the efficacy and adequacy of internal control system in the Company, its compliance with operating
systems, accounting procedures and policies of the Company. Based on the report of internal audit function, process owners undertake
corrective action in their respective areas and thereby strengthen the controls.
DISCLOSURE IN RELATION TO THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION &
REDRESSAL) ACT, 2013:
12
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
As per the requirement of The Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 and rules made
thereunder, your Company has constituted Internal Complaints Committee which is responsible for redressal of complaints related to sexual
harassment.
AUDITORS & AUDITORS’ REPORT:
Earlier, on the recommendation of the Board, in the year of 2017-18, M/s Dharmesh Parikh & Co. LLP, Chartered Accountants, has been
appointed as Statutory Auditors of the Company from the conclusion of the 01st Annual General Meeting in the year of 2017-18 till the
conclusion of 06th Annual General Meeting of the company to be held in the Calendar Year 2023.
Notes to the financial statements referred in the Auditors Report are self-explanatory and therefore do not call for any comments under
Section 134 of the Companies Act, 2013.
AUDIT QUALIFICATION:
There were no qualifications, reservation or adverse remarks given by Statutory Auditors of the Company.
SECRETARIAL AUDITOR:
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the rules made thereunder, the Company had appointed M/s.
Samdani Shah & Kabra, Company Secretaries to undertake the Secretarial Audit of the Company.
The Secretarial Audit Report for FY 2021-22 in form MR-3 is annexed, which forms part of this report.
EXTRACT OF ANNUAL RETURN:
The details forming part of the extract of the Annual Return in Form MGT-9 are annexed as an Annexure-A herewith, which forms part of
this Report.
INSURANCE:
The Company has taken appropriate insurance for all assets against foreseeable perils.
PARTICULARS OF EMPLOYEES:
The Company has not employed any individual whose remuneration falls within the purview of the limits prescribed under the provisions of
Section 197 of the Companies Act, 2013, read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014.
Personnel who are in receipt of remuneration aggregating not less than Rs. 102 lacs per annum and employed throughout the year: Nil
Employed for a part of the financial year and were in receipt of remuneration for any part of the financial year at a rate which in aggregate
was not less than Rs. 8.5 lacs per month: Nil
Disclosures pertaining to remuneration of top ten employees of the company as on 31st March, 2022 are provided as Annexure - C to this
Report.
COST RECORDS:
Requirement of maintenance of cost records as specified by the central government under subsection (1) of section 148 of the Companies act,
2013 is not applicable to the company.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:
The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section
134(3)(m) of the companies Act, 2013 read with Rule, 8 of the Companies (Accounts) Rules, 2014, as amended from time to time is annexed
as an Annexure - B to this report.
ACKNOWLEDGEMENT:
Your Directors have pleasure in taking this opportunity to thank, Government Agencies, bankers and all other personnel of their continued
support and co-operation to the Company.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
13
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
ANIL KUMAR GUPTA
Date : 21.05.2022 CHAIRMAN
Place : Ahmedabad (DIN:06859132)
Annexure - A
ANNEXURE TO DIRECTORS’ REPORT
FORM NO. MGT-9
EXTRACT OF ANNUAL RETURN
As on the financial year ended March 31, 2022
[Pursuant to Section 92(3) of the Companies Act, 2013, and Rule 12(1) of the
Companies (Management and Administration) Rules, 2014]
14
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
REGISTRATION AND OTHER DETAILS:
CIN U74999GJ2017PLC097813
Registration Date 09th June, 2017
Name of the Company Adani Infrastructure Management Services Limited
Category / Sub-Category of the Company Company limited by Shares
Address of the Registered office and contact
details
Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S. G.
Highway, Khodiyar, Ahmedabad – 382421
Whether listed company Unlisted
Name, Address and Contact details of Registrar
and Transfer Agent, if any
LINK INTIME INDIA PRIVATE LIMITED
C 101, 247 Park, L.B.S. Marg,
Vikhroli (West)-400083
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:
All the business activities contributing 10% or more of the total turnover of the company shall be stated:
Name and description of main Products/Services
NIC Code of the Product/
service
% to total turnover of the
company
Construction/erection and maintenance of power, telecommunication
and transmission lines
42202 100
PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:
Name and address of the
Company
CIN/GLN
Holding/ Subsidiary/
Associate
% of shares
held
Applicable
Section
Adani Properties Private Limited U45201GJ1995PTC026067 Holding Company 100% 2(46)
SHARE HOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL EQUITY)
Category-wise Share Holding
Category of
Shareholders
No of Shares held at the
beginning of the year
No. of Shares held at the
end of the year
% Change
during the year
Demat
Physical Total % of total Shares Demat
Physical
Total
% of
total
Shares
15
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
A. Promoter
1 Indian
a)
Individuals/
HUF
- - - - - - - - -
b) Central Government - - - - - - - - -
c) State Government(s) -- -- -- -- -- -- -- -- --
d) Bodies Corporate 9994 - 9994 99.94% 9994 - 9994 99.94% Nil
e) Banks/FI - - - - - - - - -
f) Any Others (Nominee of Promoters) - 06 06 0.6% - 06 06 0.6% Nil
Sub Total(A)(1) 9994 06 10,000 100% 9994 06 10,000 100% Nil
2 Foreign
a) NRIs-Individuals -- -- -- -- -- -- -- -- --
b) Other-Individuals -- -- -- -- -- -- -- -- --
c) Bodies Corporate -- -- -- -- -- -- -- -- --
d) Banks/FI -- -- -- -- -- -- -- -- --
e) Any Other -- -- -- -- -- -- -- -- --
Sub Total(A)(2) -- -- -- -- -- -- -- -- --
Total Shareholding
of Promoter and Promoter Group
(A)= (A)(1)+(A)(2)
9994 06 10,000 100% 9994 06 10,000 100% Nil
B. Public shareholding
1 Institutions
16
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
a) Mutual Funds/ UTI -- -- -- -- -- -- -- -- --
b) Banks/FI -- -- -- -- -- -- -- -- --
c) Central Govt. -- -- -- -- -- -- -- -- --
d) State Govt. -- -- -- -- -- -- -- -- --
e) Venture Capital Funds -- -- -- -- -- -- -- -- --
f) Insurance Companies -- -- -- -- -- -- -- -- --
g) FII -- -- -- -- -- -- -- -- --
h) Foreign Venture Capital Funds -- -- -- -- -- -- -- -- --
i) Any Other -- -- -- -- -- -- -- -- --
Sub-Total (B)(1)
2 Non-institutions
a) Bodies Corporate -- -- -- -- -- -- -- -- --
I Indian -- -- -- -- -- -- -- -- --
Ii Overseas -- -- -- -- -- -- -- -- --
b) Individuals -- -- -- -- -- -- -- -- --
I Individuals shareholders holding nominal share capital up to Rs 1 lakh -- -- -- -- -- -- -- -- --
ii Individual shareholders holding nominal share capital in excess of Rs. 1 lakh. -- -- -- -- -- -- -- -- --
c) Other (specify) -- -- -- -- -- -- -- -- --
Sub-Total (B)(2) -- -- -- -- -- -- -- --
Total Public Shareholding
(B)= (B)(1)+(B)(2)
-- -- -- -- -- -- -- -- --
C. Shares held by Custodians for GDRs & ADRs -- -- -- -- -- -- -- -- --
17
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
GRAND TOTAL (A)+(B)+(C) 9994 06 10,000 100% 9994 06 10,000 100% Nil
ii) Shareholding of Promoter
Shareholders
Name
No of Shares held at the
beginning of the year
No. of Shares held at the
end of the year
% Change during
the year
Demat
Physical Total % of total Shares Demat
Physical
Total
% of
total
Shares
1 Adani Properties Private Limited * 9994 06 10,000 100% 9994 06 10,000 100% Nil
* Shares held by Adani Properties Private Limited (APPL) including six nominees of APPL
iii) Change in Promoters’ Shareholding
Shareholding at the beginning of the
year
Cumulative Shareholding during the
year
No. of
Shares
% of total shares of the Company No. of Shares
% of total shares of the
Company
At the beginning of the year
No change
during the year
Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for
increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc): No change
during the year
At the end of the year
No change
during the year
iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders
of GDRs and ADRs):
For each of the Top 10
Shareholder
Shareholding at the beginning of
the year
Shareholding at the end of
the year
No. of Shares % of total shares of the Company No. of Shares
% of total shares of the
Company
NIL
18
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
v) Shareholding of Directors and Key Managerial Personnel
For each of the Directors and
KMP
Shareholding at the beginning of
the year
Shareholding at the end of
the year
No. of Shares % of total shares of the Company No. of Shares
% of total shares of the
Company
At the beginning of the year
None of the Directors and Key Managerial Personnel hold share
in the Company except, Mr. Vneet S Jaain are holding one
share each as nominee of Adani Properties Private Limited.
Date wise Increase / Decrease in Promoters Shareholding
during the year specifying the reasons for increase /
decrease (e.g. allotment / transfer / bonus/ sweat equity
etc):
At the end of the year
INDEBTEDNESS
Indebtedness of the Company including interest outstanding/accrued but not due for payment
(Amount in Rs)
Secured Loans excluding
deposits
Unsecured
Loans
Deposits Total
Indebtedness
Indebtedness at the beginning of the financial
year
i) Principal Amount 7,026,507,626 3,111,446,995 10,137,954,621
ii) Interest due but not paid - -
iii) Interest accrued but not due 56,427,644 173,626,277 - 230,053,921
Total (i+ii+iii) 7,082,935,270 3,285,073,272 - 10,368,008,542
Change in Indebtedness during the financial year
Addition - 4,617,364,228 - 4,617,364,228
Reduction 1,755,500,000 86,586,524 - 1,842,086,524
19
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Adjustment (Amorisation during the Year) (32,117,716) - - (32,117,716)
Net Change (1,723,382,284) 4,530,777,704 2,807,395,421
Indebtedness at the
end of the financial year
i) Principal Amount 5,303,125,342 7,642,224,700 - 12,945,350,042
ii) Interest due but not paid - -
iii) Interest accrued but not due 39,494,743 122,786,424 - 162,281,167
Total (i+ii+iii) 5,342,620,085 7,765,011,124 - 13,107,631,209
REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
A. Remuneration to Managing Director, Whole-time Directors and/or Manager: l
Sr No Particulars of Remuneration Not Applicable
1 Gross salary
Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961
Value of perquisites u/s 17(2) Income-tax Act, 1961
Profits in lieu of salary under section 17(3) Income-tax Act, 1961
2 Stock Option -
3 Sweat Equity
4 Commission
-as % of profit
-others, specify
5 Others, please specify
Total (A)
Ceiling as per the Act
20
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
B. Remuneration to other Directors:
(Amount in Rs.)
Sr No Particulars of Remuneration
Not Applicable
1 Independent Directors
Fee for attending board, committee meetings
Commission
Others, please specify
Total (1)
2 Other Non-Executive Directors
Fee for attending board, committee meetings
Commission
Others, please specify
Total (2)
Total (B) = (1+2)
Total Managerial Remuneration
C. Remuneration to key managerial personnel other than MD/manager/WTD
Sr No Particulars of Remuneration
Not Applicable
1 Gross salary
Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961
Value of perquisites u/s 17(2) Income-tax Act, 1961
Profits in lieu of salary under section 17(3) Income-tax Act, 1961
21
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
2 Stock Option
3 Sweat Equity
4 Commission
-as % of profit
-others, specify
5 Others, please specify
Total (A)
Ceiling as per the Act
PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:
Type
Section of the
Companies Act
Brief
Description
Details of penalty/ punishment/
compounding fees imposed
Authority
[RD / NCLT/
COURT]
Appeal made, if any
(give details)
Company
Penalty
None
Punishment
Compounding
Directors
Penalty
None
Punishment
Compounding
Other Officers in default
22
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Penalty
None
Punishment
Compounding
Annexure – B
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
Conservation of Energy:
Steps taken or impact on conservation of energy:
AIMSL helped different customer for ESG initiatives like harvesting of Rainwater, Auxiliary consumption through Green sources, land
utilization through green cover, avoiding single use plastic etc.
Replace compact florescent lamp (CFL) with LED device in current year as well
High Efficiency Lighting control, Motors, Pumps and Fans installation in current year as well
Steps taken by the company for utilizing alternate sources of energy:
At present we are Providing Operation and Maintenance Services to different Customer. We have advised our Customer for use of renewable
energy source (Solar) as an alternate source of energy.
Capital investment on energy conservation equipment:
NIL
Technology Absorption:
Adopting the best technologies in our business is essential in ensuring and maintaining global benchmarks in performance. We ensure this
through our in house engineering and adopting best technologies available in the market. We have advised our customers for new technology
by way of remote operation of cluster of substations from single location. Advised customers for creation of Asset Health Dashboards for
analytics of health of assets.
Foreign Exchange Earnings and Outgo:
The particulars relating to foreign exchange earnings and outgo during the year under review are as under:
(Rs. In Crores)
Particulars 2021-22 2020-21
Foreign exchange earned -- --
Foreign exchange outgo 3.90 2.42
Annexure-C
Sr
No.
Name
Age
(yrs)
Designation
Gross
Remuneration
(in Rs.)
Qualification
Exp
(yrs)
Date of
joining
Previous Employment
MULA RAVI 52
Associate Vice
President - O&M
6165988 B.E./B.Tech 31 05/02/2010
GVK Power and
Infrastructure Ltd.
BIBHAS
KARMAKAR
49 AGM – O&M 5855808 B.E./B.Tech. 27 02/03/2020
Lalitpur Power
Generation Company
Limited
23
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
SUBRATA
KUMAR AICH
53 GM - O&M 5763548 B.E./B.Tech 24 07/06/2010
Tenughat Vidyut Nigam
Ltd
AVESH KUMAR
SINGH
47 GM - TC 5203964 B.E./B.Tech. 26 17/11/2010
GMR Group, Vedanta
Aluminium Ltd.
NITESH RANJAN 49 GM – O&M 5170618 B.E./B.Tech. 26 06/05/2008 ABB Limited
SUSHEEL
KUMAR
PANDEY
52
Associate General
Manager- O&M
4820306 B.E./B.Tech. 31 01/07/2020 NA
VIDYADHAR
MULAY
51
Associate General
Manager -O&M
4813644
B.E./B.Tech.
- M.B.A.
29 25/03/2011 RELIANCE INFRA
JAIRAJ BAYAD 54 Head - AENOC 4694124 Others-1998 29 01/11/2018
Essar Power Gujarat
Limited
ATUL SADARIA 43 DGM – O&M 3410720 B.E./B.Tech. 21 17/07/2010 Torrent power ltd.
RAMESH
KUMAR SONI
47
Senior Manager –
O&M
3239920 B.E./B.Tech. 24 03/02/2010 Lanco infratech ltd.
ANNEXURE – D
ANNUAL REPORT ON CSR ACTIVITES TO BE INCLUDED IN THE BOARD’S REPORT
FOR FINANCIAL YEAR 2021-22.
Brief outline on CSR Policy of the Company.
The Company has framed Corporate Social Responsibility (CSR) Policy which encompasses its philosophy and guides its sustained efforts
for undertaking and supporting socially useful programs for the welfare & sustainable development of the society.
The Company carried out/get implemented its CSR activities/projects through Adani Foundation. The Company has identified Education,
Community Health, Sustainable Livelihood and Community Infrastructure as the core sectors for CSR activities.
Composition of the CSR Committee:
Sr.
No.
Name of
Director
Designation / Nature
of Directorship
Number of meetings of CSR
Committee held during the year
Number of meetings of CSR Committee
attended during the year
1
Mr. Jigar
Thakkar
Chairman 1 1
2
Mr. Vneet S
Jaain
Member 1 1
3
Mr. Anil
Kumar Gupta
Member 1 1
Provide the web-link where Composition of CSR Committee, CSR Policy and CSR projects approved by the Board are disclosed on the
website of the Company. - Not Applicable
24
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Provide the details of Impact assessment of CSR projects carried out in Pursuance of Sub-rule (3) of rule 8 of the Companies (Corporate
Social Responsibility Policy) Rules, 2014, if applicable (attach the report). - Not Applicable
Details of the amount available for set off in pursuance of sub-rule (3) of rule 7 of the Companies (Corporate Social Responsibility Policy)
Rules, 2014 and amount required for set off for the Financial year, if any. – Not Applicable
Average net profit of the Company as per Section 135(5). - Rs. 21.96 Crore
(a) Two percent of average net profit of the Company as per Section 135(5). - Rs. 0.44 Crore
(b) Surplus arising out of the CSR projects or programmes or activities of the previous Financial years. – NIL
(c) Amount required to be set off for the Financial Year, if any. – NIL
(d) Total CSR obligation for the Financial year (7a + 7b - 7c). - Rs. 0.44 Crore
25
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
(a) CSR amount spent or unspent for the Financial year:
Total Amount Spent for the Financial
Year
(Rs. In Crore)
Amount Unspent (in Rs.)
Total Amount transferred to Unspent
CSR Account as per Section 135(6)
Amount transferred to any fund specified under
Schedule VII as per second proviso to Section 135(5).
Amount Date of transfer
Name of
the Fund
Amount
Date of
Transfer
0.44 - - - - -
(b) Details of CSR amount spent against ongoing projects for the Financial Year: -
(1) (2) (3) (4) (5) (6) (7) (8)
Sr.
No
Name of
project
Item from the
list of activities
in schedule VII
to the Act.
Local area
(Yes/No)
Location
of the
project
Amount spent
for the project
(Amt. in Lacs)
Mode of
implementation
Direct
(Yes/No)
Mode of
implementation
Through
implementing
agency.
State District Name
CSR
registration
number
1
Preventive
Healthcare
(i) No Gujarat Ahmedabad 6.67 No
Adani
Foundation
CSR00000265
2
Preventive
Healthcare
(i) No
Jammu
and
Kashmir
Jammu and
Kashmir
19.95 No
3
Rural
Infrastructure
(x) No Jharkhand Godda 5.51 No
4
Rural
Infrastructure
(x) No Jharkhand Godda 8.87 No
TOTAL 41.01 -
(c) Details of CSR amount spent against other than ongoing projects for the Financial year: Nil
(d) Amount spent in Administrative Overheads – 2.99 Lacs
(e) Amount spent on Impact Assessment, if applicable - NIL
(f) Total amount spent for the Financial (8b + 8c + 8d + 8e) - Rs. 0.44 Crore
26
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
(g) Excess amount for set off, if any – Nil
(a) Details of Unspent CSR amount for the preceding three financial years: Nil
(b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s): Nil
In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through CSR spent in the
Financial Year. - Nil
27
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Specify the reason(s), if the Company has failed to spend two per cent of the average net profits as per Section 135(5): - Not Applicable
Jigar Thakkar
Chairman–CSR Committee
(DIN: 08276831)
Anil Kumar Gupta
Director
(DIN: 06859132)
Form No. MR-3
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 31.03.2022
[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,
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED
Adani Corporate House, Shantigram,
Near Vaishno Devi Circle, S. G. Highway,
Khodiyar, Ahmedabad GJ 382421
We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices
by ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED (CIN:U74999GJ2017PLC097813) (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 and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of
secretarial audit, we hereby report that in our opinion, the Company has, during the audit period covering the financial year ended on 31st
March, 2022, 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 maintained by the Company for the financial
year ended on 31st March, 2022 according to the provisions of:
The Companies Act, 2013 (the Act) and the rules made there under;
The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made Thereunder: -Not Applicable to the company during the Audit
period;
The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
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;
The following Regulations and Guidelines prescribed under the Securities and
Exchange Board of India Act, 1992 (‘SEBI Act’): -
The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011: -Not Applicable to the
company during the Audit period;
The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015: -Not Applicable to the company during the
Audit period;
The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018: -Not Applicable to the
company during the Audit period;
The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014: -Not Applicable to the company during the
Audit period;
The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008: -Not Applicable to the company during
the Audit period;
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;
The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009: -Not Applicable to the company during the
Audit period; and
28
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018: -Not Applicable to the company during the Audit
period.
SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015: -Not Applicable to the company during the Audit period.
No other specific laws were applicable to the Company.
We have also examined compliance with the applicable clauses of the following:
Secretarial Standards issued by The Institute of Company Secretaries of India;
The Listing Agreements entered into by the Company with Stock Exchange(s): -
Not Applicable to the company during the Audit period.
During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc.
mentioned above.
We further report that, the Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive
Directors and Independent Directors. The changes in the composition of the Board of Directors that took place during the period under
review were carried out in compliance with the provisions of the Act.
Adequate notice is 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.
Majority decision is carried through while the dissenting members’ views are captured and recorded as part of the minutes.
We further report that, there are adequate systems and processes in the company commensurate with the size and operations of the company
to monitor and ensure compliance with applicable laws, rules, regulations and guidelines.
We further report that during the audit period there were no specific events / actions having a major bearing on the company’s affairs in
pursuance of the above referred laws, rules, regulations, guidelines, standards, etc. referred to above.
We further report that,during the reporting period Company has passed following special resolutions in Extraordinary General Meeting held
on 24th Day of December, 2021.
Issuance of 12,00,00,000 Unsecured Compulsorily Convertible Debentures (CCDs) Series I, having face value of Rs, 100/- each, at par.
Place: Ahmedabad
Date: May 21, 2022
CS Bhavi Parikh
Partner
Samdani Shah and Kabra
ACS No. 23190
C P No.: 8740
UDIN: A023190D000360241
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.
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
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED
Our Secretarial Audit Report of even date is to be read along with this letter.
Management’s Responsibility
It is the responsibility of the management of the Company to maintain secretarial records, devise proper systems to ensure compliance with
the provisions of all applicable laws and regulations and to ensure that the systems are adequate and operate effectively.
29
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Auditor’s Responsibility
Our responsibility is to express an opinion on these secretarial records, standards and procedures followed by the Company with respect to
secretarial compliances.
We believe that audit evidence and information obtain from the Company’s management is adequate and appropriate for us to provide a basis
for our opinion.
Wherever required, we have obtained the management representation about the compliance of laws, rules and regulations and happening of
events etc.
Disclaimer
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.
Place: Ahmedabad CS Bhavi parikh CS Dhwani Rana
Date: May 21, 2022 Partner Partner
Smdani Shah and Kabra Chirag Shah and Associates
ACS No. 23190 ACS No. 43629
C P No. : 8740 C P No. : 21737
UDIN: A023190D000360241
Textual information (2)
Description of state of companies affair
Adani Infrastructure Management Services Limited ("The Company") is a limited company domiciled in India and was incorporated under
the Companies Act. 2013.The registered office of the company is located at Adani Corporate House, Shnatigram, S. G. Highway, near
Vasishno Devi Circle, Khodiyar, Ahmedabad Gujarat 382421.The Company is incorporated to carry on the business of providing services of
Operations and Maintenance to the Companies engaged in the Infrastructure Development Businesses including but not limited to generation
and distribution of Thermal Power, generation and distribution of Renewable Power, Setting up of Transmission systems, development of
Roads, Development of Ports facility and all other infrastructural facilities.
Textual information (3)
Disclosure relating to amounts if any which is proposed to carry to any reserves
In order to conserve resources for operational purposes as well as expansion of business, your Directors have not recommended any dividend
on equity shares for the year. In view of the same, the Directors do not propose to carry any amount to reserves.
Textual information (4)
Disclosures relating to amount recommended to be paid as dividend
In order to conserve resources for operational purposes as well as expansion of business, your Directors have not recommended any dividend
on equity shares for the year. In view of the same, the Directors do not propose to carry any amount to reserves.
Textual information (5)
Details regarding energy conservation
Conservation of Energy: (i)Steps taken or impact on conservation of energy: •AIMSL helped different customer for ESG initiatives like
harvesting of Rainwater, Auxiliary consumption through Green sources, land utilization through green cover, avoiding single use plastic etc.
•Replace compact florescent lamp (CFL) with LED device in current year as well •High Efficiency Lighting control, Motors, Pumps and
Fans installation in current year as well (ii)Steps taken by the company for utilizing alternate sources of energy: At present we are Providing
Operation and Maintenance Services to different Customer. We have advised our Customer for use of renewable energy source (Solar) as an
alternate source of energy. (iii)Capital investment on energy conservation equipment: NIL
30
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Textual information (6)
Details regarding technology absorption
Adopting the best technologies in our business is essential in ensuring and maintaining global benchmarks in performance. We ensure this
through our in house engineering and adopting best technologies available in the market. We have advised our customers for new technology
by way of remote operation of cluster of substations from single location. Advised customers for creation of Asset Health Dashboards for
analytics of health of assets.
Textual information (7)
Details regarding foreign exchange earnings and outgo
The particulars relating to foreign exchange earnings and outgo during the year under review are as under: (Rs. In Crores) Particulars
2021-22 2020-21 Foreign exchange earned -- -- Foreign exchange outgo 3.90 2.42
Textual information (8)
Disclosures in director’s responsibility statement
DIRECTORS’ RESPONSIBILITY STATEMENT: Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the
best of their knowledge and ability, state the following: a.that in the preparation of the annual financial statements, the applicable accounting
standards have been followed along with proper explanation relating to material departures, if any; b.that such accounting policies have been
selected and applied consistently and judgement and estimates have been made that are reasonable and prudent so as to give a true and fair
view of the state of affairs of the Company as at 31st March, 2022 and of the loss of the Company for the year ended on that date; c.that
proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the
Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d.that the
annual financial statements have been prepared on a going concern basis; e.that proper internal financial controls were in place and that the
financial control were adequate and were operating effectively; f.that proper systems to ensure compliance with the provisions of all
applicable laws were in place and were adequate and operating effectively.
Textual information (9)
Particulars of loans guarantee investment under section 186 [Text Block]
The provisions of Section 186 of the Companies Act, 2013, with respect to a loan, guarantee or security is not applicable to the Company as
the Company is engaged in providing infrastructural facilities and is exempted under Section 186 of the Companies Act, 2013. The Company
has not made any investment during the year under review.
Textual information (10)
Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
All the related party transactions entered into during the financial year were in the ordinary course of business and on an arm’s length pricing
basis and none of the transactions with the related parties fall under the scope of Section 188(1) of the Companies Act, 2013. Accordingly,
the disclosure of related party transactions as required under Section 134(3)(h) of the Companies Act, 2013 in Form AOC 2 is not applicable.
Suitable disclosure as required by the Indian Accounting Standards (IND AS 24) has been made in the notes to the Financial Statements.
31
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Textual information (11)
Disclosure of extract of annual return as provided under section 92(3) [Text Block]
EXTRACT OF ANNUAL RETURN
As on the financial year ended March 31, 2022
[Pursuant to Section 92(3) of the Companies Act, 2013, and Rule 12(1) of the
Companies (Management and Administration) Rules, 2014]
REGISTRATION AND OTHER DETAILS:
CIN : U74999GJ2017PLC097813
Registration Date : 09th June, 2017
Name of the Company : Adani Infrastructure Management Services Limited
Category / Sub-Category of the Company : Company limited by Shares
Address of the Registered office and contact
details
:
Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S. G.
Highway, Khodiyar, Ahmedabad – 382421
Whether listed company : Unlisted
Name, Address and Contact details of Registrar
and Transfer Agent, if any
:
LINK INTIME INDIA PRIVATE LIMITED
C 101, 247 Park, L.B.S. Marg,
Vikhroli (West)-400083
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:
All the business activities contributing 10% or more of the total turnover of the company shall be stated:
Name and description of main Products/Services
NIC Code of the Product/
service
% to total turnover of the
company
Construction/erection and maintenance of power, telecommunication
and transmission lines
42202 100
PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:
Name and address of the
Company
CIN/GLN
Holding/ Subsidiary/
Associate
% of shares
held
Applicable
Section
Adani Properties Private Limited U45201GJ1995PTC026067 Holding Company 100% 2(46)
SHARE HOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL EQUITY)
Category-wise Share Holding
32
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Category of
Shareholders
No of Shares held at the
beginning of the year
No. of Shares held at the
end of the year
% Change
during the year
Demat
Physical Total % of total Shares Demat
Physical
Total
% of
total
Shares
A. Promoter
1 Indian
a)
Individuals/
HUF
-- -- -- -- -- -- -- -- --
b) Central Government -- -- -- -- -- -- -- -- --
c) State Government(s) -- -- -- -- -- -- -- -- --
d) Bodies Corporate 9994 -- 9994 99.94% 9994 -- 9994 99.94% Nil
e) Banks/FI -- -- -- -- -- -- -- -- --
f) Any Others (Nominee of Promoters) -- 06 06 0.6% -- 06 06 0.6% Nil
Sub Total(A)(1) 9994 06 10,000 100% 9994 06 10,000 100% Nil
2 Foreign
a) NRIs-Individuals -- -- -- -- -- -- -- -- --
b) Other-Individuals -- -- -- -- -- -- -- -- --
c) Bodies Corporate -- -- -- -- -- -- -- -- --
d) Banks/FI -- -- -- -- -- -- -- -- --
e) Any Other -- -- -- -- -- -- -- -- --
Sub Total(A)(2) -- -- -- -- -- -- -- -- --
Total Shareholding
of Promoter and Promoter Group
(A)= (A)(1)+(A)(2)
9994 06 10,000 100% 9994 06 10,000 100% Nil
33
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
B. Public shareholding
1 Institutions
a) Mutual Funds/ UTI -- -- -- -- -- -- -- -- --
b) Banks/FI -- -- -- -- -- -- -- -- --
c) Central Govt. -- -- -- -- -- -- -- -- --
d) State Govt. -- -- -- -- -- -- -- -- --
e) Venture Capital Funds -- -- -- -- -- -- -- -- --
f) Insurance Companies -- -- -- -- -- -- -- -- --
g) FII -- -- -- -- -- -- -- -- --
h) Foreign Venture Capital Funds -- -- -- -- -- -- -- -- --
i) Any Other -- -- -- -- -- -- -- -- --
Sub-Total (B)(1)
2 Non-institutions
a) Bodies Corporate -- -- -- -- -- -- -- -- --
I Indian -- -- -- -- -- -- -- -- --
Ii Overseas -- -- -- -- -- -- -- -- --
b) Individuals -- -- -- -- -- -- -- -- --
I Individuals shareholders holding nominal share capital up to Rs 1 lakh -- -- -- -- -- -- -- -- --
ii Individual shareholders holding nominal share capital in excess of Rs. 1 lakh. -- -- -- -- -- -- -- -- --
c) Other (specify) -- -- -- -- -- -- -- -- --
Sub-Total (B)(2) -- -- -- -- -- -- -- --
Total Public Shareholding
(B)= (B)(1)+(B)(2)
-- -- -- -- -- -- -- -- --
34
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
C. Shares held by Custodians for GDRs & ADRs -- -- -- -- -- -- -- -- --
GRAND TOTAL (A)+(B)+(C) 9994 06 10,000 100% 9994 06 10,000 100% Nil
ii) Shareholding of Promoter
Shareholders
Name
No of Shares held at the
beginning of the year
No. of Shares held at the
end of the year
% Change during
the year
Demat
Physical Total % of total Shares Demat
Physical
Total
% of
total
Shares
1 Adani Properties Private Limited * 9994 06 10,000 100% 9994 06 10,000 100% Nil
* Shares held by Adani Properties Private Limited (APPL) including six nominees of APPL
iii) Change in Promoters’ Shareholding
Shareholding at the beginning of the
year
Cumulative Shareholding during the
year
No. of
Shares
% of total shares of the Company No. of Shares
% of total shares of the
Company
At the beginning of the year
No change
during the year
Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for
increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc): No change
during the year
At the end of the year
No change
during the year
iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders
of GDRs and ADRs):
For each of the Top 10
Shareholder
Shareholding at the beginning of
the year
Shareholding at the end of
the year
No. of Shares % of total shares of the Company No. of Shares
% of total shares of the
Company
35
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
NIL
v) Shareholding of Directors and Key Managerial Personnel
For each of the Directors and
KMP
Shareholding at the beginning of
the year
Shareholding at the end of
the year
No. of Shares % of total shares of the Company No. of Shares
% of total shares of the
Company
At the beginning of the year
None of the Directors and Key Managerial Personnel hold share
in the Company except, Mr. Vneet S Jaain are holding one
share each as nominee of Adani Properties Private Limited.
Date wise Increase / Decrease in Promoters Shareholding
during the year specifying the reasons for increase /
decrease (e.g. allotment / transfer / bonus/ sweat equity
etc):
At the end of the year
INDEBTEDNESS
Indebtedness of the Company including interest outstanding/accrued but not due for payment
(Amount in Rs)
Secured Loans excluding
deposits
Unsecured
Loans
Deposits Total
Indebtedness
Indebtedness at the beginning of the financial
year
i) Principal Amount 7,026,507,626 3,111,446,995 10,137,954,621
ii) Interest due but not paid - -
iii) Interest accrued but not due 56,427,644 173,626,277 - 230,053,921
Total (i+ii+iii) 7,082,935,270 3,285,073,272 - 10,368,008,542
Change in Indebtedness during the financial year
36
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Addition - 4,617,364,228 - 4,617,364,228
Reduction 1,755,500,000 86,586,524 - 1,842,086,524
Adjustment (Amorisation during the Year) (32,117,716) - - (32,117,716)
Net Change (1,723,382,284) 4,530,777,704 2,807,395,421
Indebtedness at the
end of the financial year
i) Principal Amount 5,303,125,342 7,642,224,700 - 12,945,350,042
ii) Interest due but not paid - -
iii) Interest accrued but not due 39,494,743 122,786,424 - 162,281,167
Total (i+ii+iii) 5,342,620,085 7,765,011,124 - 13,107,631,209
REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
A. Remuneration to Managing Director, Whole-time Directors and/or Manager: l
Sr No
Particulars of
Remuneration
Not
Applicable
1 Gross salary
Salary as per provisions contained in section 17(1) of the Income-tax Act,
1961
Value of perquisites u/s 17(2) Income-tax Act, 1961
Profits in lieu of salary under section 17(3) Income-tax Act, 1961
2 Stock Option -
3 Sweat Equity
4 Commission
as % of profit
others, specify
5 Others, please specify
37
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Total (A)
Ceiling as per the Act
B. Remuneration to other Directors:
(Amount in Rs.)
Sr No Particulars of Remuneration
Not Applicable
1 Independent Directors
Fee for attending board, committee meetings
Commission
Others, please specify
Total (1)
2 Other Non-Executive Directors
Fee for attending board, committee meetings
Commission
Others, please specify
Total (2)
Total (B) = (1+2)
Total Managerial Remuneration
C. Remuneration to key managerial personnel other than MD/manager/WTD
Sr No Particulars of Remuneration
Not Applicable
1 Gross salary
Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961
38
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Value of perquisites u/s 17(2) Income-tax Act, 1961
Profits in lieu of salary under section 17(3) Income-tax Act, 1961
2 Stock Option
3 Sweat Equity
4 Commission
as % of profit
others, specify
5 Others, please specify
Total (A)
Ceiling as per the Act
PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:
Type
Section of the
Companies Act
Brief
Description
Details of penalty/ punishment/
compounding fees imposed
Authority
[RD / NCLT/
COURT]
Appeal made, if any
(give details)
Company
Penalty
None
Punishment
Compounding
Directors
Penalty
None
Punishment
Compounding
39
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Other Officers in default
Penalty
None
Punishment
Compounding
Textual information (12)
Disclosure of statement on development and implementation of risk management policy [Text Block]
Your Company has a formal risk assessment and management system which periodically identifies risk areas, evaluates their consequences,
initiates risk mitigation strategies and implements corrective actions where required.
40
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Textual information (13)
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
The Present members of the Corporate Social Responsibility Committee are of Mr. Jigar Thakkar, Mr. Vneet S Jaain and Mr. Anil Kumar
Gupta.
During the year under review a Meeting of CSR Committee was held on 24th July, 2021.
The Company has identified Primary Education, Community Health, Sustainable Livelihood Development and Rural Infrastructure
Development as the core sectors for CSR. The role and functions of the CSR Committee are in conformity with the requirements of Section
135 of the Companies Act, 2013 and the rules made thereunder.
ANNUAL REPORT ON CSR ACTIVITES TO BE INCLUDED IN THE BOARD’S REPORT
FOR FINANCIAL YEAR 2021-22.
Brief outline on CSR Policy of the Company.
The Company has framed Corporate Social Responsibility (CSR) Policy which encompasses its philosophy and guides its sustained efforts
for undertaking and supporting socially useful programs for the welfare & sustainable development of the society.
The Company carried out/get implemented its CSR activities/projects through Adani Foundation. The Company has identified Education,
Community Health, Sustainable Livelihood and Community Infrastructure as the core sectors for CSR activities.
Composition of the CSR Committee:
Sr.
No.
Name of
Director
Designation / Nature
of Directorship
Number of meetings of CSR
Committee held during the year
Number of meetings of CSR Committee
attended during the year
1
Mr. Jigar
Thakkar
Chairman 1 1
2
Mr. Vneet S
Jaain
Member 1 1
3
Mr. Anil
Kumar Gupta
Member 1 1
Provide the web-link where Composition of CSR Committee, CSR Policy and CSR projects approved by the Board are disclosed on the
website of the Company. - Not Applicable
Provide the details of Impact assessment of CSR projects carried out in Pursuance of Sub-rule (3) of rule 8 of the Companies (Corporate
Social Responsibility Policy) Rules, 2014, if applicable (attach the report). - Not Applicable
Details of the amount available for set off in pursuance of sub-rule (3) of rule 7 of the Companies (Corporate Social Responsibility Policy)
Rules, 2014 and amount required for set off for the Financial year, if any. – Not Applicable
Average net profit of the Company as per Section 135(5). - Rs. 21.96 Crore
(a) Two percent of average net profit of the Company as per Section 135(5). - Rs. 0.44 Crore
(b) Surplus arising out of the CSR projects or programmes or activities of the previous Financial years. – NIL
(c) Amount required to be set off for the Financial Year, if any. – NIL
(d) Total CSR obligation for the Financial year (7a + 7b - 7c). - Rs. 0.44 Crore
(a) CSR amount spent or unspent for the Financial year:
Total Amount Spent for the Financial
Year
(Rs. In Crore)
Amount Unspent (in Rs.)
41
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Total Amount transferred to Unspent
CSR Account as per Section 135(6)
Amount transferred to any fund specified under
Schedule VII as per second proviso to Section 135(5).
Amount Date of transfer
Name of
the Fund
Amount
Date of
Transfer
0.44 - - - - -
(b) Details of CSR amount spent against ongoing projects for the Financial Year: -
(1) (2) (3) (4) (5) (6) (7) (8)
Sr.
No
Name of
project
Item from the
list of activities
in schedule VII
to the Act.
Local area
(Yes/No)
Location
of the
project
Amount spent
for the project
(Amt. in Lacs)
Mode of
implementation
Direct
(Yes/No)
Mode of
implementation
Through
implementing
agency.
State District Name
CSR
registration
number
1
Preventive
Healthcare
(i) No Gujarat Ahmedabad 6.67 No
Adani
Foundation
CSR00000265
2
Preventive
Healthcare
(i) No
Jammu
and
Kashmir
Jammu and
Kashmir
19.95 No
3
Rural
Infrastructure
(x) No Jharkhand Godda 5.51 No
4
Rural
Infrastructure
(x) No Jharkhand Godda 8.87 No
TOTAL 41.01 -
(c) Details of CSR amount spent against other than ongoing projects for the Financial year: Nil
(d) Amount spent in Administrative Overheads – 2.99 Lacs
(e) Amount spent on Impact Assessment, if applicable - NIL
(f) Total amount spent for the Financial (8b + 8c + 8d + 8e) - Rs. 0.44 Crore
(g) Excess amount for set off, if any – Nil
(a) Details of Unspent CSR amount for the preceding three financial years: Nil
(b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s): Nil
In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through CSR spent in the
Financial Year. - Nil
42
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Specify the reason(s), if the Company has failed to spend two per cent of the average net profits as per Section 135(5): - Not Applicable
Jigar Thakkar
Chairman–CSR Committee
(DIN: 08276831)
Anil Kumar Gupta
Director
(DIN: 06859132)
Textual information (14)
Disclosure of financial summary or highlights [Text Block]
The audited financial statements of the Company as on 31st March, 2022 are prepared in accordance with the relevant applicable IND AS
and provisions of the Companies Act, 2013 (“Act”).
Particulars For the year ended 31st March, 2022 For the year ended 31st March, 2021
Revenue from operations 593.73 531.28
Other Income 93.71 98.15
Total Revenue 687.44 629.43
Operating & Administrative Expenses 560.87 501.63
Operating Profit before Interest and Tax 126.57 127.8
Finance Costs 88.31 99.66
Profit/(Loss) Before Tax 38.26 28.14
Tax Expense (Including Deferred Tax) 9.91 7.38
Profit / (Loss) After tax 28.35 20.76
Other Comprehensive Income (0.89) (0.73)
Total Comprehensive Income for the Period/year 27.46 20.03
Textual information (15)
Details of significant and material orders passed by regulators or courts or tribunals impacting going concern
status and company’s operations in future [Text Block]
There are no significant and material orders passed by the Regulators or Courts or Tribunals which would impact the going concern status
and the Company’s future operations.
43
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Textual information (16)
Details regarding adequacy of internal financial controls with reference to financial statements [Text Block]
The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. The Internal Audit
Department monitors and evaluates the efficacy and adequacy of internal control system in the Company, its compliance with operating
systems, accounting procedures and policies of the Company. Based on the raeport of internal audit function, process owners undertake
corrective action in their respective areas and thereby strengthen the controls.
44
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Textual information (17)
Disclosure of appointment and remuneration of director or managerial personnel if any, in the financial year
[Text Block]
During the year, there is no changes in director(s) of the Company
Pursuant to the requirements of the Companies Act, 2013 and Articles of Association of the Company, Mr. Vneet S Jaain (DIN: 00053906) is
liable to retire by rotation and being eligible offers himself for re-appointment.
REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
A. Remuneration to Managing Director, Whole-time Directors and/or Manager: l
Sr No Particulars of Remuneration Not Applicable
1 Gross salary
Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961
Value of perquisites u/s 17(2) Income-tax Act, 1961
Profits in lieu of salary under section 17(3) Income-tax Act, 1961
2 Stock Option -
3 Sweat Equity
4 Commission
-as % of profit
-others, specify
5 Others, please specify
Total (A)
Ceiling as per the Act
B. Remuneration to other Directors:
(Amount in Rs.)
Sr No Particulars of Remuneration
Not Applicable
1 Independent Directors
45
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Fee for attending board, committee meetings
Commission
Others, please specify
Total (1)
2 Other Non-Executive Directors
Fee for attending board, committee meetings
Commission
Others, please specify
Total (2)
Total (B) = (1+2)
Total Managerial Remuneration
C. Remuneration to key managerial personnel other than MD/manager/WTD
Sr No Particulars of Remuneration
Not Applicable
1 Gross salary
Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961
Value of perquisites u/s 17(2) Income-tax Act, 1961
Profits in lieu of salary under section 17(3) Income-tax Act, 1961
2 Stock Option
3 Sweat Equity
4 Commission
-as % of profit
-others, specify
46
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
5 Others, please specify
Total (A)
Ceiling as per the Act
PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:
Type
Section of the
Companies Act
Brief
Description
Details of penalty/ punishment/
compounding fees imposed
Authority
[RD / NCLT/
COURT]
Appeal made, if any
(give details)
Company
Penalty
None
Punishment
Compounding
Directors
Penalty
None
Punishment
Compounding
Other Officers in default
Penalty
None
Punishment
Compounding
B. Remuneration to other Directors:
(Amount in Rs.)
47
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
C. Remuneration to key managerial personnel other than MD/manager/WTD
PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:
[700500] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Directors signing financial statements [Axis] 1 2
01/04/2021
to
31/03/2022
01/04/2021
to
31/03/2022
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements [Abstract]
Details of directors signing financial statements [LineItems]
Name of director signing financial statements [Abstract]
First name of director
J I G A R
MANEKLAL
THAKKAR
ANIL KUMAR
GUPTA
Designation of director Director Director
Director identification number of director 08276831 06859132
Date of signing of financial statements by director 21/05/2022 21/05/2022
[700400] Disclosures - Auditors report
Details regarding auditors [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Auditors [Axis] 1
01/04/2021
to
31/03/2022
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
Name of audit firm
DHARMESH
PARIKH & CO
LLP
Name of auditor signing report
C H I R A G
JITENDRA SHAH
Firms registration number of audit firm 112054W/W100725
Membership number of auditor 122510
Address of auditors
3 0 3 / 3 0 4
MILESTONE
Permanent account number of auditor or auditor's firm AAGFD1279G
SRN of form ADT-1 H22931232
Date of signing audit report by auditors 21/05/2022
Date of signing of balance sheet by auditors 21/05/2022
48
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Table] ..(1)
Unless otherwise specified, all monetary values are in Crores of INR
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis]
Auditor's
favourable remark
[Member]
01/04/2021
to
31/03/2022
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Abstract]
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report
[LineItems]
Disclosure in auditors report relating to fixed assets
Textual information
(18) [See below]
Disclosure in auditors report relating to inventories
Textual information
(19) [See below]
Disclosure in auditors report relating to loans
(A) Textual
information (20)
[See below]
Disclosure in auditors report relating to compliance with Section 185 and 186 of Companies Act, 2013
Textual information
(21) [See below]
Disclosure in auditors report relating to deposits accepted
Textual information
(22) [See below]
Disclosure in auditors report relating to maintenance of cost records
Textual information
(23) [See below]
Disclosure in auditors report relating to statutory dues [TextBlock]
Textual information
(24) [See below]
Disclosure in auditors report relating to default in repayment of financial dues
Textual information
(25) [See below]
Disclosure in auditors report relating to public offer and term loans used for purpose for which
those were raised
Textual information
(26) [See below]
Disclosure in auditors report relating to fraud by the company or on the company by its officers
or its employees reported during period
Textual information
(27) [See below]
Disclosure in auditors report relating to managerial remuneration
Textual information
(28) [See below]
Disclosure in auditors report relating to Nidhi Company
In our opinion, the
Company is not a
Nidhi Company.
Accordingly, the
provisions of
Paragraph 3 (xii) (a)
to (c) of the Order is
not applicable.
Disclosure in auditors report relating to transactions with related parties
Textual information
(29) [See below]
Disclosure in auditors report relating to preferential allotment or private placement of shares or
convertible debentures
(B) Textual
information (30)
[See below]
Disclosure in auditors report relating to non-cash transactions with directors or persons connected
with him
Textual information
(31) [See below]
Disclosure in auditors report relating to registration under section 45-IA of Reserve Bank of India
Act, 1934
Textual information
(32) [See below]
49
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Footnotes
(A) According to the information and explanation given to us and the records produced to us for our verification, the company has
provided unsecured loan to Other related companies.
Guarantees Security
Loans
(Rs. In
Crores)
Advances in nature
of loans
Aggregate amount granted / provided during the year
- Subsidiaries
- Holding
- Others
-
-
-
-
-
-
-
-
1196.43
-
-
-
Balance outstanding as at balance sheet date in respect of
above cases
- Subsidiaries
- Holding
- Others
-
-
-
-
-
-
-
-
2004.14
-
-
-
(B) According to the information and explanations given to us and on the basis of our examination of the records, the Company has
made private placement of compulsorily convertible debenture during the year under review.
Nature of Securities viz. Equity Shares / Preference Shares/
Convertible Debenture
Type of Issue
Amount
Involved
Nature of Non-
Compliance
Compulsorily Convertible Debenture
Private
Placement
Rs. 1196.44
Crores
-
Unless otherwise specified, all monetary values are in Crores of INR
01/04/2021
to
31/03/2022
Disclosure in auditor’s report explanatory [TextBlock]
Textual information (33)
[See below]
Whether companies auditors report order is applicable on company No
Whether auditors' report has been qualified or has any reservations or
contains adverse remarks
No
Textual information (18)
Disclosure in auditors report relating to fixed assets
a).(A) According to the information and explanation given to us and the records produced to us for our verification, the company does not
acquired/purchased any Property, Plant & Equipment during the year. Accordingly, the provision of the Paragraph 3(i) (a)(A) of the Order
not applicable. (B) According to the information and explanation given to us and the records produced to us for our verification the company
does not have any Intangible assets. Accordingly, the provision of Paragraph 3(i)(a)(B) of the Order are not applicable. b). According to the
information and explanation given to us and the records produced to us for our verification, the Company does not acquired/purchased any
Property, Plant & Equipment during the year. Accordingly, the provision of the Paragraph 3(i) (b) of the Order not applicable. c). According
to the information and explanation given to us and the records produced to us for our verification, the company does not acquired/purchased
any Property, Plant & Equipment during the year. Accordingly, the provision of the Paragraph 3(i) (c) of the Order not applicable. d).
According to the information and explanation given to us and the records produced to us for our verification, the company does not revalue
its Property, Plant and Equipment (including Right of Use assets) or intangible assets or both during the year. Accordingly, the provision of
paragraph 3(i)(d) of the Order is not applicable. e). According to the information and explanation given to us and the records produced to us
for our verification, no proceedings have been initiated or are pending against the company for holding any benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.
50
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Textual information (19)
Disclosure in auditors report relating to inventories
a). According to the information and explanation given to us and the records produced to us for our verification, the Company has a regular
programme of physical verification of its inventory. In our opinion, the coverage and procedure of verification by management is appropriate.
The discrepancies noticed on verification between the physical stock and the book records were not material and have been appropriately
dealt with in the books of accounts. b). According to the information and explanation given to us and the records produced to us for our
verification, the company has not been sanctioned working capital limits in excess of five crore rupees, in aggregate, from banks or financial
institutions on the basis of security of current assets. Accordingly, the provision of Paragraph 3(ii)(b) of the Order is not applicable.
Textual information (20)
Disclosure in auditors report relating to loans
According to the information and explanation given to us and the records produced to us for our verification the company has not made any
investment in or provided any guarantee or security to companies or granted any loans or advances in the nature of loans, secured or
unsecured, to firms, Limited Liability Partnership or any other party. However, the Company has provided unsecured loan to other related
Companies. a).According to the information and explanation given to us and the records produced to us for our verification, the terms and
conditions of the grant loan is not prejudicial to the Company’s interest. b).According to the information and explanation given to us and the
records produced to us for our verification, in respect of unsecured loans to companies, the schedule of repayment of principal and payment
of interest has been stipulated and receipts are regular. However, ICD interest has been capitalized to the principal amount as per ICD
agreements entered between the parties. c).According to the information and explanation given to us and the records produced to us for our
verification, there are no amount of loan which are overdue for more than ninety days. d).According to the information and explanation given
to us and the records produced to us for our verification, any loan or advance in the nature of loan granted which has fallen due during the
year, has not been renewed or extended or fresh loans granted to settle the overdue of existing loans given to the same parties. Accordingly,
the provision of paragraph 3(iii)(e) of the Order are not applicable. e).According to the information and explanation given to us and the
records produced to us for our verification, the company has not granted any loans or advances in the nature of loans either repayable on
demand or without specifying any terms or period of repayment. Accordingly, the provision of paragraph 3(iii)(f) of the Order are not
applicable.
Textual information (21)
Disclosure in auditors report relating to compliance with Section 185 and 186 of Companies Act, 2013
In our opinion and according to information and explanations given to us and representations made by the Management, the Company has
not granted any loans, given any guarantees or provided any securities to the parties covered under section 185 of the Act. Accordingly,
compliance under section 185 of the Act is not applicable to the company. In our opinion, and according to the information and explanations
given to us, the Company has not made investments referred in Section 186(1) of the Act.
Textual information (22)
Disclosure in auditors report relating to deposits accepted
According to information and explanations given to us, the Company has not accepted any deposits from the public within the meaning of the
directives issued by the Reserve Bank of India, provisions of section 73 to 76 of the Act, any other relevant provisions of the Act and the
relevant rules framed thereunder. Accordingly, the provisions of Paragraph 3(v) of the Order is not applicable to the Company.
Textual information (23)
Disclosure in auditors report relating to maintenance of cost records
In our opinion and according to the information and explanations given to us, the Central Government has not prescribed the maintenance of
cost records under Section 148(1) of the Act for any of the products manufactured or services rendered by the Company. Accordingly, the
provisions of Paragraph 3(vi) of the Order is not applicable.
51
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Textual information (24)
Disclosure in auditors report relating to statutory dues [Text Block]
a). According to the information and explanations given to us and on the basis of our examination of the records of the Company, amounts
deducted/accrued in the books of account in respect of undisputed statutory dues including Income-Tax, Goods and Service Tax and other
material statutory dues have generally been regularly deposited during the year by the Company with the appropriate authorities.
According to the information and explanations given to us, no undisputed amounts payable in respect of Income-Tax, Goods and Service Tax
and other material statutory dues were in arrears as at 31 March 2022 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 statutory dues as referred in sub clause(a) as at 31 March 2022,
which have not been deposited with the appropriate authorities on account of any dispute.
Textual information (25)
Disclosure in auditors report relating to default in repayment of financial dues
a). According to the information and explanations given to us and on the basis of our examination of the records of the Company, amounts
deducted/accrued in the books of account in respect of undisputed statutory dues including Income-Tax, Goods and Service Tax and other
material statutory dues have generally been regularly deposited during the year by the Company with the appropriate authorities. According
to the information and explanations given to us, no undisputed amounts payable in respect of Income-Tax, Goods and Service Tax and other
material statutory dues were in arrears as at 31 March 2022 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 statutory dues as referred in sub clause(a) as at 31 March 2022,
which have not been deposited with the appropriate authorities on account of any dispute.
Textual information (26)
Disclosure in auditors report relating to public offer and term loans used for purpose for which those were raised
a) According to the information and explanations given to us and based on our examination of the records of the Company, the Company has
not raised any moneys by way of initial public offer or further public offer (including debt instruments) during the year. Accordingly, the
provisions of Paragraph 3(x)(a) of the Order is not applicable to the Company
Textual information (27)
Disclosure in auditors report relating to fraud by the company or on the company by its officers or its employees
reported during period
a) During the course of our examination of the books and records of the company, carried out in accordance with the generally accepted
auditing practice in India, and according to the information and explanation given to us, we have neither come across any instance of material
fraud by the company or on the company by its officers or employees has been noticed or reported during the year. b). No report on any
matter under sub-section (12) of section 143 of the Companies Act has been filed in by auditors in Form ADT-4 as prescribed under rule 13
of Companies (Audit and Auditors) Rules, 2014 with the Central Government. c). As represented to us by the management, there are no
whistle blower complaints received by the company during the year.
Textual information (28)
Disclosure in auditors report relating to managerial remuneration
According to the information and explanations given to us and on the basis of our examination of the records of the Company, managerial
remuneration/ Director Sitting Fee has not been paid. Accordingly, reporting under section 197(16) of the Act is not applicable.
Textual information (29)
Disclosure in auditors report relating to transactions with related parties
As per information and explanation given to us and on the basis of our examination of the records of the Company, all the transaction with
related parties is in compliance with section 177 and 188 of Companies Act 2013, wherever applicable, and all the details have been
disclosed in Standalone Financial Statements as required by the applicable Indian Accounting Standards.
52
ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Textual information (30)
Disclosure in auditors report relating to preferential allotment or private placement of shares or convertible
debentures
According to the information and explanations given to us and based on our examination of the records of the Company, the Company has
not raised any moneys by way of initial public offer or further public offer (including debt instruments) during the year. Accordingly, the
provisions of Paragraph 3(x)(a) of the Order is not applicable to the Company
Textual information (31)
Disclosure in auditors report relating to non-cash transactions with directors or persons connected with him
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 any non-cash transactions, within the meaning of Section 192 of the Act, with directors or persons connected with them.
Accordingly, the provision of Paragraph 3(xv) of the Order is not applicable to the Company.
Textual information (32)
Disclosure in auditors report relating to registration under section 45-IA of Reserve Bank of India Act, 1934
a). In our opinion and according to the information and explanations given to us, the Company is not required to be registered under Section
45-IA of the Reserve Bank of India Act, 1934. Accordingly, provision of Paragraph 3(xvi) (a to c) of the Order is not applicable to the
Company. d). In our opinion and according to the information and explanations given to us, group does not have any Core Investment
Company (CIC) as defined in the regulation made by the Reserve Bank of India, as part of the group. Accordingly, the provisions of
Paragraph 3(xvi) (d) of the Order are not applicable to the Company.
Adani Infrastructure Management Services 2022 Annual Report.pdf
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Adani Infrastructure Management Services 2022 Annual Report.pdf

  • 1. ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 [700300] Disclosure of general information about company Unless otherwise specified, all monetary values are in Crores of INR 01/04/2021 to 31/03/2022 01/04/2020 to 31/03/2021 Name of company ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Corporate identity number U74999GJ2017PLC097813 Permanent account number of entity AAPCA6798M Address of registered office of company Adani Corporate House, Shantigram, , Near Vaishno Devi Circle, S. G. Highway, Khodiyar, , Ahmedabad , GUJARAT , INDIA - 382421 Type of industry Commercial and Industrial Date of board meeting when final accounts were approved 21/05/2022 Date of start of reporting period 01/04/2021 01/04/2020 Date of end of reporting period 31/03/2022 31/03/2021 Nature of report standalone consolidated Standalone Content of report Financial Statements Description of presentation currency INR Level of rounding used in financial statements Crores Type of cash flow statement Indirect Method Whether company is maintaining books of account and other relevant books and papers in electronic form Yes Complete postal address of place of maintenance of computer servers (storing accounting data) Google Cloud India Pvt Ltd, 7th Floor , FIFC Building, Plot No. C 54 & 55, G Block, Bandra Kurla Complex, Bandra (East) Name of city of place of maintenance of computer servers (storing accounting data) Mumbai Name of state/ union territory of place of maintenance of computer servers (storing accounting data) Maharashtra Pin code of place of maintenance of computer servers (storing accounting data) 400098 Name of district of place of maintenance of computer servers (storing accounting data) Mumbai ISO country code of place of maintenance of computer servers (storing accounting data) +91 IN Name of country of place of maintenance of computer servers (storing accounting data) INDIA Phone (with STD/ ISD code) of place of maintenance of computer servers (storing accounting data) 079-25555650
  • 2. 2 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Disclosure of principal product or services [Table] ..(1) Unless otherwise specified, all monetary values are in Crores of INR Types of principal product or services [Axis] 1 01/04/2021 to 31/03/2022 Disclosure of general information about company [Abstract] Disclosure of principal product or services [Abstract] Disclosure of principal product or services [LineItems] Product or service category (ITC 4 digit) code 9954 Description of product or service category Construction/erection and maintenance of p o w e r , telecommunication and transmission lines Turnover of product or service category 593.63 Highest turnover contributing product or service (ITC 8 digit) code 99542119 Description of product or service Construction/erection and maintenance of p o w e r , telecommunication and transmission lines Turnover of highest contributing product or service 593.63 [700600] Disclosures - Directors report Details of shareholding pattern of top 10 shareholders [Table] ..(1) Unless otherwise specified, all monetary values are in Crores of INR Name of top 10 shareholder [Axis] Name of top 10 shareholder [Member] Change in shareholding [Axis] Shareholding [Member] 31/03/2022 31/03/2021 Total number of shares held at end of period [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% Total number of shares held at end of period [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% Total number of shares held at end of period [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% Details of shareholding pattern of top 10 shareholders [Abstract] Details of shareholding pattern of top 10 shareholders [LineItems] Total number of shares held at end of period [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% Total number of shares held at end of period [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00%
  • 3. 3 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Details of shareholding pattern [Table] ..(1) Unless otherwise specified, all monetary values are in Crores of INR Shareholding pattern [Axis] Shareholders [Member] Promoters [Member] 01/04/2021 to 31/03/2022 31/03/2021 01/04/2021 to 31/03/2022 31/03/2021 Details of shareholding pattern [Abstract] Details of shareholding pattern [LineItems] Number of demat shares held at end of period [shares] 9,994 [shares] 9,994 [shares] 9,994 [shares] 9,994 Number of physical shares held end of period [shares] 6 [shares] 6 [shares] 6 [shares] 6 Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% 100.00% 100.00% Percentage of change in shares held during year 0.00% 0.00% Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% 100.00% 100.00% Percentage of change in shares held during year 0.00% 0.00% Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% 100.00% 100.00% Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% 100.00% 100.00% Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% 100.00% 100.00% Details of shareholding pattern [Table] ..(2) Unless otherwise specified, all monetary values are in Crores of INR Shareholding pattern [Axis] Indian [Member] Corporate bodies [Member] 01/04/2021 to 31/03/2022 31/03/2021 01/04/2021 to 31/03/2022 31/03/2021 Details of shareholding pattern [Abstract] Details of shareholding pattern [LineItems] Number of demat shares held at end of period [shares] 9,994 [shares] 9,994 [shares] 9,994 [shares] 9,994 Number of physical shares held end of period [shares] 6 [shares] 6 [shares] 0 [shares] 0 Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 9,994 [shares] 9,994 Percentage of total shares held at end of period 100.00% 100.00% 99.94% 99.94% Percentage of change in shares held during year 0.00% 0.00% Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 9,994 [shares] 9,994 Percentage of total shares held at end of period 100.00% 100.00% 99.94% 99.94% Percentage of change in shares held during year 0.00% 0.00% Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 9,994 [shares] 9,994 Percentage of total shares held at end of period 100.00% 100.00% 99.94% 99.94% Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 9,994 [shares] 9,994 Percentage of total shares held at end of period 100.00% 100.00% 99.94% 99.94% Total number of shares held at end of period [shares] 10,000 [shares] 10,000 [shares] 9,994 [shares] 9,994 Percentage of total shares held at end of period 100.00% 100.00% 99.94% 99.94%
  • 4. 4 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Details of shareholding pattern [Table] ..(3) Unless otherwise specified, all monetary values are in Crores of INR Shareholding pattern [Axis] Other [Member] 01/04/2021 to 31/03/2022 31/03/2021 Details of shareholding pattern [Abstract] Details of shareholding pattern [LineItems] Number of demat shares held at end of period [shares] 0 [shares] 0 Number of physical shares held end of period [shares] 6 [shares] 6 Total number of shares held at end of period [shares] 6 [shares] 6 Percentage of total shares held at end of period 0.06% 0.06% Percentage of change in shares held during year 0.00% Total number of shares held at end of period [shares] 6 [shares] 6 Percentage of total shares held at end of period 0.06% 0.06% Percentage of change in shares held during year 0.00% Total number of shares held at end of period [shares] 6 [shares] 6 Percentage of total shares held at end of period 0.06% 0.06% Total number of shares held at end of period [shares] 6 [shares] 6 Percentage of total shares held at end of period 0.06% 0.06% Total number of shares held at end of period [shares] 6 [shares] 6 Percentage of total shares held at end of period 0.06% 0.06% Details of indebtedness of company [Table] ..(1) Unless otherwise specified, all monetary values are in Crores of INR Indebtedness [Axis] Indebtedness [Member] Secured loans excluding deposits [Member] 01/04/2021 to 31/03/2022 31/03/2021 01/04/2021 to 31/03/2022 31/03/2021 Details of indebtedness of company [Abstract] Details of indebtedness of company [LineItems] Changes in indebtedness [Abstract] Addition in indebtedness 461.74 0 Reduction in indebtedness 181 (A) 172.34 Total changes in indebtedness 280.74 -172.34 Principal amount at end of financial year 1,294.53 1,013.79 530.31 702.65 Interest due but not paid at end of financial year 0 0 0 0 Interest accrued but not due at end of financial year 16.23 23 3.95 5.64 Total indebtedness at end of financial year 1,310.76 1,036.79 534.26 708.29 (A) (Amount in Cr.) Reduction 175.55 Less:Adjustment (Amorisation during the Year) (3.21177) Net Reduction 172.3382 Details of indebtedness of company [Table] ..(2) Unless otherwise specified, all monetary values are in Crores of INR Indebtedness [Axis] Unsecured loans [Member] 01/04/2021 to 31/03/2022 31/03/2021 Details of indebtedness of company [Abstract] Details of indebtedness of company [LineItems] Changes in indebtedness [Abstract] Addition in indebtedness 461.74 Reduction in indebtedness 8.66 Total changes in indebtedness 453.08 Principal amount at end of financial year 764.22 311.14 Interest due but not paid at end of financial year 0 0 Interest accrued but not due at end of financial year 12.28 17.36 Total indebtedness at end of financial year 776.5 328.5
  • 5. 5 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Details of directors signing board report [Table] ..(1) Unless otherwise specified, all monetary values are in Crores of INR Directors signing board report [Axis] 1 01/04/2021 to 31/03/2022 Details of signatories of board report [Abstract] Details of directors signing board report [LineItems] Name of director signing board report [Abstract] First name of director ANIL KUMAR GUPTA Designation of director DIRECTOR Director identification number of director 06859132 Date of signing board report 21/05/2022 Details of principal business activities contributing 10% or more of total turnover of company [Table] ..(1) Unless otherwise specified, all monetary values are in Crores of INR Principal business activities of company [Axis] Product/service 1 [Member] 01/04/2021 to 31/03/2022 Details of principal business activities contributing 10% or more of total turnover of company [Abstract] Details of principal business activities contributing 10% or more of total turnover of company [LineItems] Name of main product/service Construction/erection and maintenance Description of main product/service Construction/erection and maintenance of p o w e r , telecommunication and transmission lines NIC code of product/service 42202 Percentage to total turnover of company 100.00%
  • 6. 6 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Unless otherwise specified, all monetary values are in Crores of INR 01/04/2021 to 31/03/2022 31/03/2021 Disclosure in board of directors report explanatory [TextBlock] Textual information (1) [See below] Description of state of companies affair Textual information (2) [See below] Disclosure relating to amounts if any which is proposed to carry to any reserves Textual information (3) [See below] Disclosures relating to amount recommended to be paid as dividend Textual information (4) [See below] Details regarding energy conservation Textual information (5) [See below] Details regarding technology absorption Textual information (6) [See below] Details regarding foreign exchange earnings and outgo Textual information (7) [See below] Disclosures in director’s responsibility statement Textual information (8) [See below] Details of material changes and commitment occurred during period affecting financial position of company No material changes and commitments have occurred between the end of financial year of the company and the date of this report affecting the financial position of the company as at 31st March, 2022. Particulars of loans guarantee investment under section 186 [TextBlock] Textual information (9) [See below] Particulars of contracts/arrangements with related parties under section 188(1) [TextBlock] Textual information (10) [See below] Details of contracts/arrangements/transactions not at arm's length basis [Abstract] Whether there are contracts/arrangements/transactions not at arm's length basis No Details of material contracts/arrangements/transactions at arm's length basis [Abstract] Whether there are material contracts/arrangements/transactions at arm's length basis No Date of board of directors' meeting in which board's report referred to under section 134 was approved 21/05/2022 Disclosure of extract of annual return as provided under section 92(3) [TextBlock] Textual information (11) [See below] Details of principal business activities contributing 10% or more of total turnover of company [Abstract] Particulars of holding, subsidiary and associate companies [Abstract] Name of company ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Details of shareholding pattern [Abstract] Number of demat shares held at end of period [shares] 9,994 [shares] 9,994 Number of physical shares held end of period [shares] 6 [shares] 6 Total number of shares held at end of period [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% Percentage of change in shares held during year 0.00% Details of shareholding of promoters [Abstract] Total number of shares held at end of period [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% Percentage of change in shares held during year 0.00% Details of change in promoters shareholding [TextBlock] Details of change in promoters’ shareholding [Abstract] Total number of shares held at end of period [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% Details of shareholding pattern of top 10 shareholders [Abstract] Total number of shares held at end of period [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% Details of shareholding pattern of directors and key managerial personnel [TextBlock] Details of shareholding pattern of directors and key managerial personnel [Abstract] Total number of shares held at end of period [shares] 10,000 [shares] 10,000 Percentage of total shares held at end of period 100.00% 100.00% Details of indebtedness of company [Abstract] Changes in indebtedness [Abstract]
  • 7. 7 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Addition in indebtedness 461.74 Reduction in indebtedness 181 Total changes in indebtedness 280.74 Principal amount at end of financial year 1,294.53 1,013.79 Interest due but not paid at end of financial year 0 0 Interest accrued but not due at end of financial year 16.23 23 Total indebtedness at end of financial year 1,310.76 1,036.79 Disclosure of statement on declaration given by independent directors under section 149(6) [TextBlock] NA Disclosure for companies covered under section 178(1) on directors appointment and remuneration including other matters provided under section 178(3) [TextBlock] NA Disclosure of statement on development and implementation of risk management policy [TextBlock] Textual information (12) [See below] Details on policy development and implementation by company on corporate social responsibility initiatives taken during year [TextBlock] Textual information (13) [See below] Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock] Disclosure of financial summary or highlights [TextBlock] Textual information (14) [See below] Disclosure of change in nature of business [TextBlock] NA Details of directors or key managerial personnels who were appointed or have resigned during year [TextBlock] NA Disclosure of companies which have become or ceased to be its subsidiaries, joint ventures or associate companies during year [TextBlock] NA Details relating to deposits covered under chapter v of companies act [TextBlock] During the year under review, your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 read with rules made thereunder. Details of deposits which are not in compliance with requirements of chapter v of act [TextBlock] NA Details of significant and material orders passed by regulators or courts or tribunals impacting going concern status and company’s operations in future [TextBlock] Textual information (15) [See below] Details regarding adequacy of internal financial controls with reference to financial statements [TextBlock] Textual information (16) [See below] Disclosure of appointment and remuneration of director or managerial personnel if any, in the financial year [TextBlock] Textual information (17) [See below] Details of remuneration of director or managerial personnel [Abstract] Number of meetings of board 12 Details of signatories of board report [Abstract] Name of director signing board report [Abstract]
  • 8. 8 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Textual information (1) Disclosure in board of directors report explanatory [Text Block] ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED 5TH ANNUAL REPORT 2021-22 BOARD OF DIRECTORS: Mr. Vneet S Jaain Director Mr. Anil Kumar Gupta Director Mr. Jigar Thakkar Director Mrs. Maitri Kirankumar Mehta Director AUDITORS: M/s. Dharmesh Parikh & Co. LLP Chartered Accountants Ahmedabad REGISTERED OFFICE: Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad – 382421 CIN: U74999GJ2017PLC097813 DIRECTORS' REPORT Dear Shareholders, Your Directors are pleased to present the 5th Annual Report along with the audited accounts of your Company for the Financial Year ended 31st March, 2022. FINANCIAL HIGHLIGHTS: The audited financial statements of the Company as on 31st March, 2022 are prepared in accordance with the relevant applicable IND AS and provisions of the Companies Act, 2013 (“Act”). The financial highlight of your Company for the year ended 31st March, 2022 is summarized as below: (Rs. in Crores) Particulars For the year ended 31st March, 2022 For the year ended 31st March, 2021 Revenue from operations 593.73 531.28 Other Income 93.71 98.15 Total Revenue 687.44 629.43 Operating & Administrative Expenses 560.87 501.63 Operating Profit before Interest and Tax 126.57 127.8 Finance Costs 88.31 99.66 Profit/(Loss) Before Tax 38.26 28.14
  • 9. 9 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Tax Expense (Including Deferred Tax) 9.91 7.38 Profit / (Loss) After tax 28.35 20.76 Other Comprehensive Income (0.89) (0.73) Total Comprehensive Income for the Period/year 27.46 20.03 FINANCIAL PERFORMANCE OF THE COMPANY: Your Company has recorded total income to the tune of Rs. 687.44 Crores during the financial year 2021-22 compared to Rs. 629.43 Crores in the corresponding previous financial year. Net Profit for the financial year 2021-22 is Rs. 27.46 Crores as compared to Profit of Rs. 20.76 Crores in the previous financial year. Earnings per share stood at Rs. 28,350.03 on face value of Rs. 10 each. DIVIDEND: In order to conserve resources for operational purposes as well as expansion of business, your Directors have not recommended any dividend on equity shares for the year. In view of the same, the Directors do not propose to carry any amount to reserves. MATERIAL CHANGES AND COMMITMENTS: No material changes and commitments have occurred between the end of financial year of the company and the date of this report affecting the financial position of the company as at 31st March, 2022. DEPOSITS: During the year under review, your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 read with rules made thereunder. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES: As at March 31, 2022, Your Company continues to be Wholly–owned Subsidiary (“WOS”) of Adani Properties Private Limited (“APPL”). Since the Company is WOS of APPL, the financials of the Company is consolidated in the financials of APPL pursuant to the provisions of Section 129, 134 and 136 of the Companies Act, 2013 read with rules framed thereunder and the Company is therefore not required to prepare the consolidated financial statements separately. PARTICULARS OF LOANS, GUARANTEE OR INVESTMENT: The provisions of Section 186 of the Companies Act, 2013, with respect to a loan, guarantee or security is not applicable to the Company as the Company is engaged in providing infrastructural facilities and is exempted under Section 186 of the Companies Act, 2013. The Company has not made any investment during the year under review. DIRECTORS & KEY MANAGERIAL PERSONNEL: During the year, there is no changes in director(s) of the Company Pursuant to the requirements of the Companies Act, 2013 and Articles of Association of the Company, Mr. Vneet S Jaain (DIN: 00053906) is liable to retire by rotation and being eligible offers himself for re-appointment. DIRECTORS’ RESPONSIBILITY STATEMENT: Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, state the following: a.that in the preparation of the annual financial statements, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any; b.that such accounting policies have been selected and applied consistently and judgement and estimates have been made c.that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March, 2022 and of the loss of the Company for the year ended on that date; c.that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d.that the annual financial statements have been prepared on a going concern basis;
  • 10. 10 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 e.that proper internal financial controls were in place and that the financial control were adequate and were operating effectively; f.that proper systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively. SECRETARIAL STANDARDS: During the year under review, your company has complied with all the applicable Secretarial Standards. NUMBER OF BOARD MEETINGS: In compliance with the Companies Act, 2013 and the rules made thereunder, where permitted, Directors are provided the facility to join the proceedings of the meeting through video conferencing. During the period under review, The Board of Directors met 12 (Twelve) times on 01st May, 2021, 03rd June, 2021, 24th July, 2021, 03rd August, 2021, 14th September, 2021, 25th September, 2021, 26th October, 2021, 15th November, 2021, 01st December, 2021, 29th December, 2021, 01st February, 2022, and 15th March, 2022. The maximum time gap between any two meetings is not more than 120 days.
  • 11. 11 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 The attendance of each Director at the Board Meetings held during the year under review is as under: Name of Directors Meetings Held Attended Mr. Vneet S Jaain 12 12 Mr. Anil Kumar Gupta 12 12 Mr. Jigar Maneklal Thakkar 12 12 Mrs. Maitri Kirankumar Mehta* 12 4 BOARD EVALUATION: The Board adopted a formal mechanism for evaluating its performance as well as that of its Committees and individual Directors, including the Chairman of the Board. The exercise was carried out through a structured evaluation process covering various aspects of the Board functioning such as composition of the Board & committees, experience & competencies, performance of specific duties & obligations, contribution at the meetings and otherwise, independent judgment, governance issues etc. RISK MANAGEMENT: Your Company has a formal risk assessment and management system which periodically identifies risk areas, evaluates their consequences, initiates risk mitigation strategies and implements corrective actions where required. COMMITTEES OF THE BOARD: Corporate Social Responsibility Committee (CSR): The Present members of the Corporate Social Responsibility Committee are of Mr. Jigar Thakkar, Mr. Vneet S Jaain and Mr. Anil Kumar Gupta. During the year under review a Meeting of CSR Committee was held on 24th July, 2021. The Company has identified Primary Education, Community Health, Sustainable Livelihood Development and Rural Infrastructure Development as the core sectors for CSR. The role and functions of the CSR Committee are in conformity with the requirements of Section 135 of the Companies Act, 2013 and the rules made thereunder. The Annual Report on CSR activities is annexed, as Annexure – D which forms part of this report. RELATED PARTY TRANSACTIONS: All the related party transactions entered into during the financial year were in the ordinary course of business and on an arm’s length pricing basis and none of the transactions with the related parties fall under the scope of Section 188(1) of the Companies Act, 2013. Accordingly, the disclosure of related party transactions as required under Section 134(3)(h) of the Companies Act, 2013 in Form AOC 2 is not applicable. Suitable disclosure as required by the Indian Accounting Standards (IND AS 24) has been made in the notes to the Financial Statements. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS OF THE COMPANY: There are no significant and material orders passed by the Regulators or Courts or Tribunals which would impact the going concern status and the Company’s future operations. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY: The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. The Internal Audit Department monitors and evaluates the efficacy and adequacy of internal control system in the Company, its compliance with operating systems, accounting procedures and policies of the Company. Based on the report of internal audit function, process owners undertake corrective action in their respective areas and thereby strengthen the controls. DISCLOSURE IN RELATION TO THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013:
  • 12. 12 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 As per the requirement of The Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 and rules made thereunder, your Company has constituted Internal Complaints Committee which is responsible for redressal of complaints related to sexual harassment. AUDITORS & AUDITORS’ REPORT: Earlier, on the recommendation of the Board, in the year of 2017-18, M/s Dharmesh Parikh & Co. LLP, Chartered Accountants, has been appointed as Statutory Auditors of the Company from the conclusion of the 01st Annual General Meeting in the year of 2017-18 till the conclusion of 06th Annual General Meeting of the company to be held in the Calendar Year 2023. Notes to the financial statements referred in the Auditors Report are self-explanatory and therefore do not call for any comments under Section 134 of the Companies Act, 2013. AUDIT QUALIFICATION: There were no qualifications, reservation or adverse remarks given by Statutory Auditors of the Company. SECRETARIAL AUDITOR: Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the rules made thereunder, the Company had appointed M/s. Samdani Shah & Kabra, Company Secretaries to undertake the Secretarial Audit of the Company. The Secretarial Audit Report for FY 2021-22 in form MR-3 is annexed, which forms part of this report. EXTRACT OF ANNUAL RETURN: The details forming part of the extract of the Annual Return in Form MGT-9 are annexed as an Annexure-A herewith, which forms part of this Report. INSURANCE: The Company has taken appropriate insurance for all assets against foreseeable perils. PARTICULARS OF EMPLOYEES: The Company has not employed any individual whose remuneration falls within the purview of the limits prescribed under the provisions of Section 197 of the Companies Act, 2013, read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. Personnel who are in receipt of remuneration aggregating not less than Rs. 102 lacs per annum and employed throughout the year: Nil Employed for a part of the financial year and were in receipt of remuneration for any part of the financial year at a rate which in aggregate was not less than Rs. 8.5 lacs per month: Nil Disclosures pertaining to remuneration of top ten employees of the company as on 31st March, 2022 are provided as Annexure - C to this Report. COST RECORDS: Requirement of maintenance of cost records as specified by the central government under subsection (1) of section 148 of the Companies act, 2013 is not applicable to the company. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO: The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the companies Act, 2013 read with Rule, 8 of the Companies (Accounts) Rules, 2014, as amended from time to time is annexed as an Annexure - B to this report. ACKNOWLEDGEMENT: Your Directors have pleasure in taking this opportunity to thank, Government Agencies, bankers and all other personnel of their continued support and co-operation to the Company. FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
  • 13. 13 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 ANIL KUMAR GUPTA Date : 21.05.2022 CHAIRMAN Place : Ahmedabad (DIN:06859132) Annexure - A ANNEXURE TO DIRECTORS’ REPORT FORM NO. MGT-9 EXTRACT OF ANNUAL RETURN As on the financial year ended March 31, 2022 [Pursuant to Section 92(3) of the Companies Act, 2013, and Rule 12(1) of the Companies (Management and Administration) Rules, 2014]
  • 14. 14 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 REGISTRATION AND OTHER DETAILS: CIN U74999GJ2017PLC097813 Registration Date 09th June, 2017 Name of the Company Adani Infrastructure Management Services Limited Category / Sub-Category of the Company Company limited by Shares Address of the Registered office and contact details Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad – 382421 Whether listed company Unlisted Name, Address and Contact details of Registrar and Transfer Agent, if any LINK INTIME INDIA PRIVATE LIMITED C 101, 247 Park, L.B.S. Marg, Vikhroli (West)-400083 PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY: All the business activities contributing 10% or more of the total turnover of the company shall be stated: Name and description of main Products/Services NIC Code of the Product/ service % to total turnover of the company Construction/erection and maintenance of power, telecommunication and transmission lines 42202 100 PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES: Name and address of the Company CIN/GLN Holding/ Subsidiary/ Associate % of shares held Applicable Section Adani Properties Private Limited U45201GJ1995PTC026067 Holding Company 100% 2(46) SHARE HOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL EQUITY) Category-wise Share Holding Category of Shareholders No of Shares held at the beginning of the year No. of Shares held at the end of the year % Change during the year Demat Physical Total % of total Shares Demat Physical Total % of total Shares
  • 15. 15 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 A. Promoter 1 Indian a) Individuals/ HUF - - - - - - - - - b) Central Government - - - - - - - - - c) State Government(s) -- -- -- -- -- -- -- -- -- d) Bodies Corporate 9994 - 9994 99.94% 9994 - 9994 99.94% Nil e) Banks/FI - - - - - - - - - f) Any Others (Nominee of Promoters) - 06 06 0.6% - 06 06 0.6% Nil Sub Total(A)(1) 9994 06 10,000 100% 9994 06 10,000 100% Nil 2 Foreign a) NRIs-Individuals -- -- -- -- -- -- -- -- -- b) Other-Individuals -- -- -- -- -- -- -- -- -- c) Bodies Corporate -- -- -- -- -- -- -- -- -- d) Banks/FI -- -- -- -- -- -- -- -- -- e) Any Other -- -- -- -- -- -- -- -- -- Sub Total(A)(2) -- -- -- -- -- -- -- -- -- Total Shareholding of Promoter and Promoter Group (A)= (A)(1)+(A)(2) 9994 06 10,000 100% 9994 06 10,000 100% Nil B. Public shareholding 1 Institutions
  • 16. 16 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 a) Mutual Funds/ UTI -- -- -- -- -- -- -- -- -- b) Banks/FI -- -- -- -- -- -- -- -- -- c) Central Govt. -- -- -- -- -- -- -- -- -- d) State Govt. -- -- -- -- -- -- -- -- -- e) Venture Capital Funds -- -- -- -- -- -- -- -- -- f) Insurance Companies -- -- -- -- -- -- -- -- -- g) FII -- -- -- -- -- -- -- -- -- h) Foreign Venture Capital Funds -- -- -- -- -- -- -- -- -- i) Any Other -- -- -- -- -- -- -- -- -- Sub-Total (B)(1) 2 Non-institutions a) Bodies Corporate -- -- -- -- -- -- -- -- -- I Indian -- -- -- -- -- -- -- -- -- Ii Overseas -- -- -- -- -- -- -- -- -- b) Individuals -- -- -- -- -- -- -- -- -- I Individuals shareholders holding nominal share capital up to Rs 1 lakh -- -- -- -- -- -- -- -- -- ii Individual shareholders holding nominal share capital in excess of Rs. 1 lakh. -- -- -- -- -- -- -- -- -- c) Other (specify) -- -- -- -- -- -- -- -- -- Sub-Total (B)(2) -- -- -- -- -- -- -- -- Total Public Shareholding (B)= (B)(1)+(B)(2) -- -- -- -- -- -- -- -- -- C. Shares held by Custodians for GDRs & ADRs -- -- -- -- -- -- -- -- --
  • 17. 17 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 GRAND TOTAL (A)+(B)+(C) 9994 06 10,000 100% 9994 06 10,000 100% Nil ii) Shareholding of Promoter Shareholders Name No of Shares held at the beginning of the year No. of Shares held at the end of the year % Change during the year Demat Physical Total % of total Shares Demat Physical Total % of total Shares 1 Adani Properties Private Limited * 9994 06 10,000 100% 9994 06 10,000 100% Nil * Shares held by Adani Properties Private Limited (APPL) including six nominees of APPL iii) Change in Promoters’ Shareholding Shareholding at the beginning of the year Cumulative Shareholding during the year No. of Shares % of total shares of the Company No. of Shares % of total shares of the Company At the beginning of the year No change during the year Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc): No change during the year At the end of the year No change during the year iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs): For each of the Top 10 Shareholder Shareholding at the beginning of the year Shareholding at the end of the year No. of Shares % of total shares of the Company No. of Shares % of total shares of the Company NIL
  • 18. 18 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 v) Shareholding of Directors and Key Managerial Personnel For each of the Directors and KMP Shareholding at the beginning of the year Shareholding at the end of the year No. of Shares % of total shares of the Company No. of Shares % of total shares of the Company At the beginning of the year None of the Directors and Key Managerial Personnel hold share in the Company except, Mr. Vneet S Jaain are holding one share each as nominee of Adani Properties Private Limited. Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc): At the end of the year INDEBTEDNESS Indebtedness of the Company including interest outstanding/accrued but not due for payment (Amount in Rs) Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness Indebtedness at the beginning of the financial year i) Principal Amount 7,026,507,626 3,111,446,995 10,137,954,621 ii) Interest due but not paid - - iii) Interest accrued but not due 56,427,644 173,626,277 - 230,053,921 Total (i+ii+iii) 7,082,935,270 3,285,073,272 - 10,368,008,542 Change in Indebtedness during the financial year Addition - 4,617,364,228 - 4,617,364,228 Reduction 1,755,500,000 86,586,524 - 1,842,086,524
  • 19. 19 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Adjustment (Amorisation during the Year) (32,117,716) - - (32,117,716) Net Change (1,723,382,284) 4,530,777,704 2,807,395,421 Indebtedness at the end of the financial year i) Principal Amount 5,303,125,342 7,642,224,700 - 12,945,350,042 ii) Interest due but not paid - - iii) Interest accrued but not due 39,494,743 122,786,424 - 162,281,167 Total (i+ii+iii) 5,342,620,085 7,765,011,124 - 13,107,631,209 REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL A. Remuneration to Managing Director, Whole-time Directors and/or Manager: l Sr No Particulars of Remuneration Not Applicable 1 Gross salary Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 Value of perquisites u/s 17(2) Income-tax Act, 1961 Profits in lieu of salary under section 17(3) Income-tax Act, 1961 2 Stock Option - 3 Sweat Equity 4 Commission -as % of profit -others, specify 5 Others, please specify Total (A) Ceiling as per the Act
  • 20. 20 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 B. Remuneration to other Directors: (Amount in Rs.) Sr No Particulars of Remuneration Not Applicable 1 Independent Directors Fee for attending board, committee meetings Commission Others, please specify Total (1) 2 Other Non-Executive Directors Fee for attending board, committee meetings Commission Others, please specify Total (2) Total (B) = (1+2) Total Managerial Remuneration C. Remuneration to key managerial personnel other than MD/manager/WTD Sr No Particulars of Remuneration Not Applicable 1 Gross salary Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 Value of perquisites u/s 17(2) Income-tax Act, 1961 Profits in lieu of salary under section 17(3) Income-tax Act, 1961
  • 21. 21 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 2 Stock Option 3 Sweat Equity 4 Commission -as % of profit -others, specify 5 Others, please specify Total (A) Ceiling as per the Act PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: Type Section of the Companies Act Brief Description Details of penalty/ punishment/ compounding fees imposed Authority [RD / NCLT/ COURT] Appeal made, if any (give details) Company Penalty None Punishment Compounding Directors Penalty None Punishment Compounding Other Officers in default
  • 22. 22 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Penalty None Punishment Compounding Annexure – B CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO Conservation of Energy: Steps taken or impact on conservation of energy: AIMSL helped different customer for ESG initiatives like harvesting of Rainwater, Auxiliary consumption through Green sources, land utilization through green cover, avoiding single use plastic etc. Replace compact florescent lamp (CFL) with LED device in current year as well High Efficiency Lighting control, Motors, Pumps and Fans installation in current year as well Steps taken by the company for utilizing alternate sources of energy: At present we are Providing Operation and Maintenance Services to different Customer. We have advised our Customer for use of renewable energy source (Solar) as an alternate source of energy. Capital investment on energy conservation equipment: NIL Technology Absorption: Adopting the best technologies in our business is essential in ensuring and maintaining global benchmarks in performance. We ensure this through our in house engineering and adopting best technologies available in the market. We have advised our customers for new technology by way of remote operation of cluster of substations from single location. Advised customers for creation of Asset Health Dashboards for analytics of health of assets. Foreign Exchange Earnings and Outgo: The particulars relating to foreign exchange earnings and outgo during the year under review are as under: (Rs. In Crores) Particulars 2021-22 2020-21 Foreign exchange earned -- -- Foreign exchange outgo 3.90 2.42 Annexure-C Sr No. Name Age (yrs) Designation Gross Remuneration (in Rs.) Qualification Exp (yrs) Date of joining Previous Employment MULA RAVI 52 Associate Vice President - O&M 6165988 B.E./B.Tech 31 05/02/2010 GVK Power and Infrastructure Ltd. BIBHAS KARMAKAR 49 AGM – O&M 5855808 B.E./B.Tech. 27 02/03/2020 Lalitpur Power Generation Company Limited
  • 23. 23 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 SUBRATA KUMAR AICH 53 GM - O&M 5763548 B.E./B.Tech 24 07/06/2010 Tenughat Vidyut Nigam Ltd AVESH KUMAR SINGH 47 GM - TC 5203964 B.E./B.Tech. 26 17/11/2010 GMR Group, Vedanta Aluminium Ltd. NITESH RANJAN 49 GM – O&M 5170618 B.E./B.Tech. 26 06/05/2008 ABB Limited SUSHEEL KUMAR PANDEY 52 Associate General Manager- O&M 4820306 B.E./B.Tech. 31 01/07/2020 NA VIDYADHAR MULAY 51 Associate General Manager -O&M 4813644 B.E./B.Tech. - M.B.A. 29 25/03/2011 RELIANCE INFRA JAIRAJ BAYAD 54 Head - AENOC 4694124 Others-1998 29 01/11/2018 Essar Power Gujarat Limited ATUL SADARIA 43 DGM – O&M 3410720 B.E./B.Tech. 21 17/07/2010 Torrent power ltd. RAMESH KUMAR SONI 47 Senior Manager – O&M 3239920 B.E./B.Tech. 24 03/02/2010 Lanco infratech ltd. ANNEXURE – D ANNUAL REPORT ON CSR ACTIVITES TO BE INCLUDED IN THE BOARD’S REPORT FOR FINANCIAL YEAR 2021-22. Brief outline on CSR Policy of the Company. The Company has framed Corporate Social Responsibility (CSR) Policy which encompasses its philosophy and guides its sustained efforts for undertaking and supporting socially useful programs for the welfare & sustainable development of the society. The Company carried out/get implemented its CSR activities/projects through Adani Foundation. The Company has identified Education, Community Health, Sustainable Livelihood and Community Infrastructure as the core sectors for CSR activities. Composition of the CSR Committee: Sr. No. Name of Director Designation / Nature of Directorship Number of meetings of CSR Committee held during the year Number of meetings of CSR Committee attended during the year 1 Mr. Jigar Thakkar Chairman 1 1 2 Mr. Vneet S Jaain Member 1 1 3 Mr. Anil Kumar Gupta Member 1 1 Provide the web-link where Composition of CSR Committee, CSR Policy and CSR projects approved by the Board are disclosed on the website of the Company. - Not Applicable
  • 24. 24 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Provide the details of Impact assessment of CSR projects carried out in Pursuance of Sub-rule (3) of rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014, if applicable (attach the report). - Not Applicable Details of the amount available for set off in pursuance of sub-rule (3) of rule 7 of the Companies (Corporate Social Responsibility Policy) Rules, 2014 and amount required for set off for the Financial year, if any. – Not Applicable Average net profit of the Company as per Section 135(5). - Rs. 21.96 Crore (a) Two percent of average net profit of the Company as per Section 135(5). - Rs. 0.44 Crore (b) Surplus arising out of the CSR projects or programmes or activities of the previous Financial years. – NIL (c) Amount required to be set off for the Financial Year, if any. – NIL (d) Total CSR obligation for the Financial year (7a + 7b - 7c). - Rs. 0.44 Crore
  • 25. 25 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 (a) CSR amount spent or unspent for the Financial year: Total Amount Spent for the Financial Year (Rs. In Crore) Amount Unspent (in Rs.) Total Amount transferred to Unspent CSR Account as per Section 135(6) Amount transferred to any fund specified under Schedule VII as per second proviso to Section 135(5). Amount Date of transfer Name of the Fund Amount Date of Transfer 0.44 - - - - - (b) Details of CSR amount spent against ongoing projects for the Financial Year: - (1) (2) (3) (4) (5) (6) (7) (8) Sr. No Name of project Item from the list of activities in schedule VII to the Act. Local area (Yes/No) Location of the project Amount spent for the project (Amt. in Lacs) Mode of implementation Direct (Yes/No) Mode of implementation Through implementing agency. State District Name CSR registration number 1 Preventive Healthcare (i) No Gujarat Ahmedabad 6.67 No Adani Foundation CSR00000265 2 Preventive Healthcare (i) No Jammu and Kashmir Jammu and Kashmir 19.95 No 3 Rural Infrastructure (x) No Jharkhand Godda 5.51 No 4 Rural Infrastructure (x) No Jharkhand Godda 8.87 No TOTAL 41.01 - (c) Details of CSR amount spent against other than ongoing projects for the Financial year: Nil (d) Amount spent in Administrative Overheads – 2.99 Lacs (e) Amount spent on Impact Assessment, if applicable - NIL (f) Total amount spent for the Financial (8b + 8c + 8d + 8e) - Rs. 0.44 Crore
  • 26. 26 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 (g) Excess amount for set off, if any – Nil (a) Details of Unspent CSR amount for the preceding three financial years: Nil (b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s): Nil In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through CSR spent in the Financial Year. - Nil
  • 27. 27 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Specify the reason(s), if the Company has failed to spend two per cent of the average net profits as per Section 135(5): - Not Applicable Jigar Thakkar Chairman–CSR Committee (DIN: 08276831) Anil Kumar Gupta Director (DIN: 06859132) Form No. MR-3 SECRETARIAL AUDIT REPORT FOR THE FINANCIAL YEAR ENDED 31.03.2022 [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, ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad GJ 382421 We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED (CIN:U74999GJ2017PLC097813) (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 and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, we hereby report that in our opinion, the Company has, during the audit period covering the financial year ended on 31st March, 2022, 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 maintained by the Company for the financial year ended on 31st March, 2022 according to the provisions of: The Companies Act, 2013 (the Act) and the rules made there under; The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made Thereunder: -Not Applicable to the company during the Audit period; The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder; 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; The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’): - The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011: -Not Applicable to the company during the Audit period; The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015: -Not Applicable to the company during the Audit period; The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018: -Not Applicable to the company during the Audit period; The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014: -Not Applicable to the company during the Audit period; The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008: -Not Applicable to the company during the Audit period; 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; The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009: -Not Applicable to the company during the Audit period; and
  • 28. 28 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018: -Not Applicable to the company during the Audit period. SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015: -Not Applicable to the company during the Audit period. No other specific laws were applicable to the Company. We have also examined compliance with the applicable clauses of the following: Secretarial Standards issued by The Institute of Company Secretaries of India; The Listing Agreements entered into by the Company with Stock Exchange(s): - Not Applicable to the company during the Audit period. During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above. We further report that, the Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act. Adequate notice is 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. Majority decision is carried through while the dissenting members’ views are captured and recorded as part of the minutes. We further report that, there are adequate systems and processes in the company commensurate with the size and operations of the company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines. We further report that during the audit period there were no specific events / actions having a major bearing on the company’s affairs in pursuance of the above referred laws, rules, regulations, guidelines, standards, etc. referred to above. We further report that,during the reporting period Company has passed following special resolutions in Extraordinary General Meeting held on 24th Day of December, 2021. Issuance of 12,00,00,000 Unsecured Compulsorily Convertible Debentures (CCDs) Series I, having face value of Rs, 100/- each, at par. Place: Ahmedabad Date: May 21, 2022 CS Bhavi Parikh Partner Samdani Shah and Kabra ACS No. 23190 C P No.: 8740 UDIN: A023190D000360241 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. 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 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Our Secretarial Audit Report of even date is to be read along with this letter. Management’s Responsibility It is the responsibility of the management of the Company to maintain secretarial records, devise proper systems to ensure compliance with the provisions of all applicable laws and regulations and to ensure that the systems are adequate and operate effectively.
  • 29. 29 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Auditor’s Responsibility Our responsibility is to express an opinion on these secretarial records, standards and procedures followed by the Company with respect to secretarial compliances. We believe that audit evidence and information obtain from the Company’s management is adequate and appropriate for us to provide a basis for our opinion. Wherever required, we have obtained the management representation about the compliance of laws, rules and regulations and happening of events etc. Disclaimer 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. Place: Ahmedabad CS Bhavi parikh CS Dhwani Rana Date: May 21, 2022 Partner Partner Smdani Shah and Kabra Chirag Shah and Associates ACS No. 23190 ACS No. 43629 C P No. : 8740 C P No. : 21737 UDIN: A023190D000360241 Textual information (2) Description of state of companies affair Adani Infrastructure Management Services Limited ("The Company") is a limited company domiciled in India and was incorporated under the Companies Act. 2013.The registered office of the company is located at Adani Corporate House, Shnatigram, S. G. Highway, near Vasishno Devi Circle, Khodiyar, Ahmedabad Gujarat 382421.The Company is incorporated to carry on the business of providing services of Operations and Maintenance to the Companies engaged in the Infrastructure Development Businesses including but not limited to generation and distribution of Thermal Power, generation and distribution of Renewable Power, Setting up of Transmission systems, development of Roads, Development of Ports facility and all other infrastructural facilities. Textual information (3) Disclosure relating to amounts if any which is proposed to carry to any reserves In order to conserve resources for operational purposes as well as expansion of business, your Directors have not recommended any dividend on equity shares for the year. In view of the same, the Directors do not propose to carry any amount to reserves. Textual information (4) Disclosures relating to amount recommended to be paid as dividend In order to conserve resources for operational purposes as well as expansion of business, your Directors have not recommended any dividend on equity shares for the year. In view of the same, the Directors do not propose to carry any amount to reserves. Textual information (5) Details regarding energy conservation Conservation of Energy: (i)Steps taken or impact on conservation of energy: •AIMSL helped different customer for ESG initiatives like harvesting of Rainwater, Auxiliary consumption through Green sources, land utilization through green cover, avoiding single use plastic etc. •Replace compact florescent lamp (CFL) with LED device in current year as well •High Efficiency Lighting control, Motors, Pumps and Fans installation in current year as well (ii)Steps taken by the company for utilizing alternate sources of energy: At present we are Providing Operation and Maintenance Services to different Customer. We have advised our Customer for use of renewable energy source (Solar) as an alternate source of energy. (iii)Capital investment on energy conservation equipment: NIL
  • 30. 30 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Textual information (6) Details regarding technology absorption Adopting the best technologies in our business is essential in ensuring and maintaining global benchmarks in performance. We ensure this through our in house engineering and adopting best technologies available in the market. We have advised our customers for new technology by way of remote operation of cluster of substations from single location. Advised customers for creation of Asset Health Dashboards for analytics of health of assets. Textual information (7) Details regarding foreign exchange earnings and outgo The particulars relating to foreign exchange earnings and outgo during the year under review are as under: (Rs. In Crores) Particulars 2021-22 2020-21 Foreign exchange earned -- -- Foreign exchange outgo 3.90 2.42 Textual information (8) Disclosures in director’s responsibility statement DIRECTORS’ RESPONSIBILITY STATEMENT: Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, state the following: a.that in the preparation of the annual financial statements, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any; b.that such accounting policies have been selected and applied consistently and judgement and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March, 2022 and of the loss of the Company for the year ended on that date; c.that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d.that the annual financial statements have been prepared on a going concern basis; e.that proper internal financial controls were in place and that the financial control were adequate and were operating effectively; f.that proper systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively. Textual information (9) Particulars of loans guarantee investment under section 186 [Text Block] The provisions of Section 186 of the Companies Act, 2013, with respect to a loan, guarantee or security is not applicable to the Company as the Company is engaged in providing infrastructural facilities and is exempted under Section 186 of the Companies Act, 2013. The Company has not made any investment during the year under review. Textual information (10) Particulars of contracts/arrangements with related parties under section 188(1) [Text Block] All the related party transactions entered into during the financial year were in the ordinary course of business and on an arm’s length pricing basis and none of the transactions with the related parties fall under the scope of Section 188(1) of the Companies Act, 2013. Accordingly, the disclosure of related party transactions as required under Section 134(3)(h) of the Companies Act, 2013 in Form AOC 2 is not applicable. Suitable disclosure as required by the Indian Accounting Standards (IND AS 24) has been made in the notes to the Financial Statements.
  • 31. 31 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Textual information (11) Disclosure of extract of annual return as provided under section 92(3) [Text Block] EXTRACT OF ANNUAL RETURN As on the financial year ended March 31, 2022 [Pursuant to Section 92(3) of the Companies Act, 2013, and Rule 12(1) of the Companies (Management and Administration) Rules, 2014] REGISTRATION AND OTHER DETAILS: CIN : U74999GJ2017PLC097813 Registration Date : 09th June, 2017 Name of the Company : Adani Infrastructure Management Services Limited Category / Sub-Category of the Company : Company limited by Shares Address of the Registered office and contact details : Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad – 382421 Whether listed company : Unlisted Name, Address and Contact details of Registrar and Transfer Agent, if any : LINK INTIME INDIA PRIVATE LIMITED C 101, 247 Park, L.B.S. Marg, Vikhroli (West)-400083 PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY: All the business activities contributing 10% or more of the total turnover of the company shall be stated: Name and description of main Products/Services NIC Code of the Product/ service % to total turnover of the company Construction/erection and maintenance of power, telecommunication and transmission lines 42202 100 PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES: Name and address of the Company CIN/GLN Holding/ Subsidiary/ Associate % of shares held Applicable Section Adani Properties Private Limited U45201GJ1995PTC026067 Holding Company 100% 2(46) SHARE HOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL EQUITY) Category-wise Share Holding
  • 32. 32 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Category of Shareholders No of Shares held at the beginning of the year No. of Shares held at the end of the year % Change during the year Demat Physical Total % of total Shares Demat Physical Total % of total Shares A. Promoter 1 Indian a) Individuals/ HUF -- -- -- -- -- -- -- -- -- b) Central Government -- -- -- -- -- -- -- -- -- c) State Government(s) -- -- -- -- -- -- -- -- -- d) Bodies Corporate 9994 -- 9994 99.94% 9994 -- 9994 99.94% Nil e) Banks/FI -- -- -- -- -- -- -- -- -- f) Any Others (Nominee of Promoters) -- 06 06 0.6% -- 06 06 0.6% Nil Sub Total(A)(1) 9994 06 10,000 100% 9994 06 10,000 100% Nil 2 Foreign a) NRIs-Individuals -- -- -- -- -- -- -- -- -- b) Other-Individuals -- -- -- -- -- -- -- -- -- c) Bodies Corporate -- -- -- -- -- -- -- -- -- d) Banks/FI -- -- -- -- -- -- -- -- -- e) Any Other -- -- -- -- -- -- -- -- -- Sub Total(A)(2) -- -- -- -- -- -- -- -- -- Total Shareholding of Promoter and Promoter Group (A)= (A)(1)+(A)(2) 9994 06 10,000 100% 9994 06 10,000 100% Nil
  • 33. 33 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 B. Public shareholding 1 Institutions a) Mutual Funds/ UTI -- -- -- -- -- -- -- -- -- b) Banks/FI -- -- -- -- -- -- -- -- -- c) Central Govt. -- -- -- -- -- -- -- -- -- d) State Govt. -- -- -- -- -- -- -- -- -- e) Venture Capital Funds -- -- -- -- -- -- -- -- -- f) Insurance Companies -- -- -- -- -- -- -- -- -- g) FII -- -- -- -- -- -- -- -- -- h) Foreign Venture Capital Funds -- -- -- -- -- -- -- -- -- i) Any Other -- -- -- -- -- -- -- -- -- Sub-Total (B)(1) 2 Non-institutions a) Bodies Corporate -- -- -- -- -- -- -- -- -- I Indian -- -- -- -- -- -- -- -- -- Ii Overseas -- -- -- -- -- -- -- -- -- b) Individuals -- -- -- -- -- -- -- -- -- I Individuals shareholders holding nominal share capital up to Rs 1 lakh -- -- -- -- -- -- -- -- -- ii Individual shareholders holding nominal share capital in excess of Rs. 1 lakh. -- -- -- -- -- -- -- -- -- c) Other (specify) -- -- -- -- -- -- -- -- -- Sub-Total (B)(2) -- -- -- -- -- -- -- -- Total Public Shareholding (B)= (B)(1)+(B)(2) -- -- -- -- -- -- -- -- --
  • 34. 34 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 C. Shares held by Custodians for GDRs & ADRs -- -- -- -- -- -- -- -- -- GRAND TOTAL (A)+(B)+(C) 9994 06 10,000 100% 9994 06 10,000 100% Nil ii) Shareholding of Promoter Shareholders Name No of Shares held at the beginning of the year No. of Shares held at the end of the year % Change during the year Demat Physical Total % of total Shares Demat Physical Total % of total Shares 1 Adani Properties Private Limited * 9994 06 10,000 100% 9994 06 10,000 100% Nil * Shares held by Adani Properties Private Limited (APPL) including six nominees of APPL iii) Change in Promoters’ Shareholding Shareholding at the beginning of the year Cumulative Shareholding during the year No. of Shares % of total shares of the Company No. of Shares % of total shares of the Company At the beginning of the year No change during the year Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc): No change during the year At the end of the year No change during the year iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs): For each of the Top 10 Shareholder Shareholding at the beginning of the year Shareholding at the end of the year No. of Shares % of total shares of the Company No. of Shares % of total shares of the Company
  • 35. 35 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 NIL v) Shareholding of Directors and Key Managerial Personnel For each of the Directors and KMP Shareholding at the beginning of the year Shareholding at the end of the year No. of Shares % of total shares of the Company No. of Shares % of total shares of the Company At the beginning of the year None of the Directors and Key Managerial Personnel hold share in the Company except, Mr. Vneet S Jaain are holding one share each as nominee of Adani Properties Private Limited. Date wise Increase / Decrease in Promoters Shareholding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus/ sweat equity etc): At the end of the year INDEBTEDNESS Indebtedness of the Company including interest outstanding/accrued but not due for payment (Amount in Rs) Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness Indebtedness at the beginning of the financial year i) Principal Amount 7,026,507,626 3,111,446,995 10,137,954,621 ii) Interest due but not paid - - iii) Interest accrued but not due 56,427,644 173,626,277 - 230,053,921 Total (i+ii+iii) 7,082,935,270 3,285,073,272 - 10,368,008,542 Change in Indebtedness during the financial year
  • 36. 36 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Addition - 4,617,364,228 - 4,617,364,228 Reduction 1,755,500,000 86,586,524 - 1,842,086,524 Adjustment (Amorisation during the Year) (32,117,716) - - (32,117,716) Net Change (1,723,382,284) 4,530,777,704 2,807,395,421 Indebtedness at the end of the financial year i) Principal Amount 5,303,125,342 7,642,224,700 - 12,945,350,042 ii) Interest due but not paid - - iii) Interest accrued but not due 39,494,743 122,786,424 - 162,281,167 Total (i+ii+iii) 5,342,620,085 7,765,011,124 - 13,107,631,209 REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL A. Remuneration to Managing Director, Whole-time Directors and/or Manager: l Sr No Particulars of Remuneration Not Applicable 1 Gross salary Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 Value of perquisites u/s 17(2) Income-tax Act, 1961 Profits in lieu of salary under section 17(3) Income-tax Act, 1961 2 Stock Option - 3 Sweat Equity 4 Commission as % of profit others, specify 5 Others, please specify
  • 37. 37 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Total (A) Ceiling as per the Act B. Remuneration to other Directors: (Amount in Rs.) Sr No Particulars of Remuneration Not Applicable 1 Independent Directors Fee for attending board, committee meetings Commission Others, please specify Total (1) 2 Other Non-Executive Directors Fee for attending board, committee meetings Commission Others, please specify Total (2) Total (B) = (1+2) Total Managerial Remuneration C. Remuneration to key managerial personnel other than MD/manager/WTD Sr No Particulars of Remuneration Not Applicable 1 Gross salary Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961
  • 38. 38 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Value of perquisites u/s 17(2) Income-tax Act, 1961 Profits in lieu of salary under section 17(3) Income-tax Act, 1961 2 Stock Option 3 Sweat Equity 4 Commission as % of profit others, specify 5 Others, please specify Total (A) Ceiling as per the Act PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: Type Section of the Companies Act Brief Description Details of penalty/ punishment/ compounding fees imposed Authority [RD / NCLT/ COURT] Appeal made, if any (give details) Company Penalty None Punishment Compounding Directors Penalty None Punishment Compounding
  • 39. 39 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Other Officers in default Penalty None Punishment Compounding Textual information (12) Disclosure of statement on development and implementation of risk management policy [Text Block] Your Company has a formal risk assessment and management system which periodically identifies risk areas, evaluates their consequences, initiates risk mitigation strategies and implements corrective actions where required.
  • 40. 40 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Textual information (13) Details on policy development and implementation by company on corporate social responsibility initiatives taken during year [Text Block] The Present members of the Corporate Social Responsibility Committee are of Mr. Jigar Thakkar, Mr. Vneet S Jaain and Mr. Anil Kumar Gupta. During the year under review a Meeting of CSR Committee was held on 24th July, 2021. The Company has identified Primary Education, Community Health, Sustainable Livelihood Development and Rural Infrastructure Development as the core sectors for CSR. The role and functions of the CSR Committee are in conformity with the requirements of Section 135 of the Companies Act, 2013 and the rules made thereunder. ANNUAL REPORT ON CSR ACTIVITES TO BE INCLUDED IN THE BOARD’S REPORT FOR FINANCIAL YEAR 2021-22. Brief outline on CSR Policy of the Company. The Company has framed Corporate Social Responsibility (CSR) Policy which encompasses its philosophy and guides its sustained efforts for undertaking and supporting socially useful programs for the welfare & sustainable development of the society. The Company carried out/get implemented its CSR activities/projects through Adani Foundation. The Company has identified Education, Community Health, Sustainable Livelihood and Community Infrastructure as the core sectors for CSR activities. Composition of the CSR Committee: Sr. No. Name of Director Designation / Nature of Directorship Number of meetings of CSR Committee held during the year Number of meetings of CSR Committee attended during the year 1 Mr. Jigar Thakkar Chairman 1 1 2 Mr. Vneet S Jaain Member 1 1 3 Mr. Anil Kumar Gupta Member 1 1 Provide the web-link where Composition of CSR Committee, CSR Policy and CSR projects approved by the Board are disclosed on the website of the Company. - Not Applicable Provide the details of Impact assessment of CSR projects carried out in Pursuance of Sub-rule (3) of rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014, if applicable (attach the report). - Not Applicable Details of the amount available for set off in pursuance of sub-rule (3) of rule 7 of the Companies (Corporate Social Responsibility Policy) Rules, 2014 and amount required for set off for the Financial year, if any. – Not Applicable Average net profit of the Company as per Section 135(5). - Rs. 21.96 Crore (a) Two percent of average net profit of the Company as per Section 135(5). - Rs. 0.44 Crore (b) Surplus arising out of the CSR projects or programmes or activities of the previous Financial years. – NIL (c) Amount required to be set off for the Financial Year, if any. – NIL (d) Total CSR obligation for the Financial year (7a + 7b - 7c). - Rs. 0.44 Crore (a) CSR amount spent or unspent for the Financial year: Total Amount Spent for the Financial Year (Rs. In Crore) Amount Unspent (in Rs.)
  • 41. 41 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Total Amount transferred to Unspent CSR Account as per Section 135(6) Amount transferred to any fund specified under Schedule VII as per second proviso to Section 135(5). Amount Date of transfer Name of the Fund Amount Date of Transfer 0.44 - - - - - (b) Details of CSR amount spent against ongoing projects for the Financial Year: - (1) (2) (3) (4) (5) (6) (7) (8) Sr. No Name of project Item from the list of activities in schedule VII to the Act. Local area (Yes/No) Location of the project Amount spent for the project (Amt. in Lacs) Mode of implementation Direct (Yes/No) Mode of implementation Through implementing agency. State District Name CSR registration number 1 Preventive Healthcare (i) No Gujarat Ahmedabad 6.67 No Adani Foundation CSR00000265 2 Preventive Healthcare (i) No Jammu and Kashmir Jammu and Kashmir 19.95 No 3 Rural Infrastructure (x) No Jharkhand Godda 5.51 No 4 Rural Infrastructure (x) No Jharkhand Godda 8.87 No TOTAL 41.01 - (c) Details of CSR amount spent against other than ongoing projects for the Financial year: Nil (d) Amount spent in Administrative Overheads – 2.99 Lacs (e) Amount spent on Impact Assessment, if applicable - NIL (f) Total amount spent for the Financial (8b + 8c + 8d + 8e) - Rs. 0.44 Crore (g) Excess amount for set off, if any – Nil (a) Details of Unspent CSR amount for the preceding three financial years: Nil (b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s): Nil In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through CSR spent in the Financial Year. - Nil
  • 42. 42 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Specify the reason(s), if the Company has failed to spend two per cent of the average net profits as per Section 135(5): - Not Applicable Jigar Thakkar Chairman–CSR Committee (DIN: 08276831) Anil Kumar Gupta Director (DIN: 06859132) Textual information (14) Disclosure of financial summary or highlights [Text Block] The audited financial statements of the Company as on 31st March, 2022 are prepared in accordance with the relevant applicable IND AS and provisions of the Companies Act, 2013 (“Act”). Particulars For the year ended 31st March, 2022 For the year ended 31st March, 2021 Revenue from operations 593.73 531.28 Other Income 93.71 98.15 Total Revenue 687.44 629.43 Operating & Administrative Expenses 560.87 501.63 Operating Profit before Interest and Tax 126.57 127.8 Finance Costs 88.31 99.66 Profit/(Loss) Before Tax 38.26 28.14 Tax Expense (Including Deferred Tax) 9.91 7.38 Profit / (Loss) After tax 28.35 20.76 Other Comprehensive Income (0.89) (0.73) Total Comprehensive Income for the Period/year 27.46 20.03 Textual information (15) Details of significant and material orders passed by regulators or courts or tribunals impacting going concern status and company’s operations in future [Text Block] There are no significant and material orders passed by the Regulators or Courts or Tribunals which would impact the going concern status and the Company’s future operations.
  • 43. 43 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Textual information (16) Details regarding adequacy of internal financial controls with reference to financial statements [Text Block] The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. The Internal Audit Department monitors and evaluates the efficacy and adequacy of internal control system in the Company, its compliance with operating systems, accounting procedures and policies of the Company. Based on the raeport of internal audit function, process owners undertake corrective action in their respective areas and thereby strengthen the controls.
  • 44. 44 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Textual information (17) Disclosure of appointment and remuneration of director or managerial personnel if any, in the financial year [Text Block] During the year, there is no changes in director(s) of the Company Pursuant to the requirements of the Companies Act, 2013 and Articles of Association of the Company, Mr. Vneet S Jaain (DIN: 00053906) is liable to retire by rotation and being eligible offers himself for re-appointment. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL A. Remuneration to Managing Director, Whole-time Directors and/or Manager: l Sr No Particulars of Remuneration Not Applicable 1 Gross salary Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 Value of perquisites u/s 17(2) Income-tax Act, 1961 Profits in lieu of salary under section 17(3) Income-tax Act, 1961 2 Stock Option - 3 Sweat Equity 4 Commission -as % of profit -others, specify 5 Others, please specify Total (A) Ceiling as per the Act B. Remuneration to other Directors: (Amount in Rs.) Sr No Particulars of Remuneration Not Applicable 1 Independent Directors
  • 45. 45 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 Fee for attending board, committee meetings Commission Others, please specify Total (1) 2 Other Non-Executive Directors Fee for attending board, committee meetings Commission Others, please specify Total (2) Total (B) = (1+2) Total Managerial Remuneration C. Remuneration to key managerial personnel other than MD/manager/WTD Sr No Particulars of Remuneration Not Applicable 1 Gross salary Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 Value of perquisites u/s 17(2) Income-tax Act, 1961 Profits in lieu of salary under section 17(3) Income-tax Act, 1961 2 Stock Option 3 Sweat Equity 4 Commission -as % of profit -others, specify
  • 46. 46 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 5 Others, please specify Total (A) Ceiling as per the Act PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: Type Section of the Companies Act Brief Description Details of penalty/ punishment/ compounding fees imposed Authority [RD / NCLT/ COURT] Appeal made, if any (give details) Company Penalty None Punishment Compounding Directors Penalty None Punishment Compounding Other Officers in default Penalty None Punishment Compounding B. Remuneration to other Directors: (Amount in Rs.)
  • 47. 47 ADANI INFRASTRUCTURE MANAGEMENT SERVICES LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022 C. Remuneration to key managerial personnel other than MD/manager/WTD PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: [700500] Disclosures - Signatories of financial statements Details of directors signing financial statements [Table] ..(1) Unless otherwise specified, all monetary values are in Crores of INR Directors signing financial statements [Axis] 1 2 01/04/2021 to 31/03/2022 01/04/2021 to 31/03/2022 Details of signatories of financial statements [Abstract] Details of directors signing financial statements [Abstract] Details of directors signing financial statements [LineItems] Name of