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Milestone Tradelinks 2021 Annual Report.pdf

Milestone Tradelinks 2021 Annual Report

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MILESTONE TRADELINKS PRIVATE LIMITED
Standalone Financial Statements for period 01/04/2020 to 31/03/2021
[400100] Disclosure of general information about company
Unless otherwise specified, all monetary values are in INR
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Name of company
MILESTONE TRADELINKS
PRIVATE LIMITED
Corporate identity number U51909GJ2001PTC039872
Permanent account number of entity AACCM9423C
Address of registered office of company
203, ANAND MILAN COMPLEX,
, OPP. NAVRANGPURA JAIN
DERASAR, NAVRANGPURA ,
AHMEDABAD , AHMEDABAD ,
GUJARAT , INDIA - 380009
Type of industry
C o m m e r c i a l a n d
Industrial
Number of employees in the company at the end of the financial Year [pure] 1
Whether company has published sustainability report for the financial
Year
No
Date of board meeting when final accounts were approved 04/11/2021
Date of start of reporting period 01/04/2020 01/04/2019
Date of end of reporting period 31/03/2021 31/03/2020
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Actual
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)
203, ANAND MILAN
C O M P L E X , O P P .
N A V R A N G P U R A
J A I N D E R A S A R ,
NAVRANGPURA AHMEDABAD
Ahmedabad GJ 380009 IN
Name of city of place of maintenance of computer servers (storing
accounting data)
Ahmedabad
Name of state/ union territory of place of maintenance of
computer servers (storing accounting data)
Gujarat
Pin code of place of maintenance of computer servers (storing
accounting data)
380009
Name of district of place of maintenance of computer servers
(storing accounting data)
Ahmedabad
ISO country code of place of maintenance of computer servers
(storing accounting data)
+91
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) 9824422870
2
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Disclosure of principal product or services [Table] ..(1)
Unless otherwise specified, all monetary values are in INR
Types of principal product or services [Axis] 1
01/04/2020
to
31/03/2021
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 7106
Description of product or service category
SILVR(INCLD SLVR PLTD
W T H
GOLD/PLTNM)UNWRGHT/IN
SEMI MNFCTRD FORM/IN
PWDR FORM
Turnover of product or service category 416,01,84,196
Highest turnover contributing product or service (ITC 8 digit) code 71061000
Description of product or service silver bars
Turnover of highest contributing product or service 416,01,84,196
[400400] Disclosures - Directors report
Details of directors signing board report [Table] ..(1)
Unless otherwise specified, all monetary values are in INR
Directors signing board report [Axis] 1
01/04/2020
to
31/03/2021
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 MANISH
Middle name of director AMRUTLAL
Last name of director SHAH
Designation of director Managing Director
Director identification number of director 00118930
Date of signing board report 04/11/2021
3
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Unless otherwise specified, all monetary values are in INR
01/04/2020
to
31/03/2021
Disclosure in board of directors report explanatory [TextBlock]
Textual information (1)
[See below]
Description of state of companies affair As Provided
Disclosure relating to amounts if any which is proposed to carry to any
reserves
T h e D i r e c t o r s
decided not to transfer
the profit to any
reserve.
Disclosures relating to amount recommended to be paid as dividend
Textual information (2)
[See below]
Details regarding energy conservation
Textual information (3)
[See below]
Details regarding technology absorption
Textual information (4)
[See below]
Details regarding foreign exchange earnings and outgo
D u r i n g t h e y e a r
under review, Earning and
Outgo in foreign currency
is nil.
Disclosures in director’s responsibility statement
Textual information (5)
[See below]
Details of material changes and commitment occurred during period
affecting financial position of company
Textual information (6)
[See below]
Particulars of loans guarantee investment under section 186 [TextBlock]
T h e
particulars of loans,
g u a r a n t e e s a n d
investments have been
d i s c l o s e d i n t h e
f i n a n c i a l
statements.
Particulars of contracts/arrangements with related parties under section
188(1) [TextBlock]
Textual information (7)
[See below]
Whether there are contracts/arrangements/transactions not at arm's
length basis
No
Whether there are material contracts/arrangements/transactions at
arm's length basis
No
Details of statement indicating manner in which formal
annual evaluation made by board of its performance and of its
committees and individual directors [TextBlock]
Textual information (8)
[See below]
Date of board of directors' meeting in which board's report referred
to under section 134 was approved
04/11/2021
Disclosure of extract of annual return as provided under section 92(3)
[TextBlock]
Textual information (9)
[See below]
Disclosure of statement on declaration given by independent directors
under section 149(6) [TextBlock]
Textual information (10)
[See below]
Disclosure for companies covered under section 178(1) on
directors appointment and remuneration including other matters
provided under section 178(3) [TextBlock]
Textual information (11)
[See below]
Disclosure of statement on development and implementation of risk
management policy [TextBlock]
T h e
Company does not have any
Risk Management Policy
as the element of risk
t h r e a t e n i n g t h e
Company’s existence is
v e r y
minimal.
Details on policy development and implementation by company on
corporate social responsibility initiatives taken during year
[TextBlock]
Textual information (12)
[See below]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
Disclosure of financial summary or highlights [TextBlock]
Textual information (13)
[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]
Textual information (14)
[See below]
Disclosure of companies which have become or ceased to be its
subsidiaries, joint ventures or associate companies during
year [TextBlock]
NA
4
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Details relating to deposits covered under chapter v of companies act
[TextBlock]
NA
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]
t h e d e t a i l s o f
significant or material
orders passed by the
regulators/court/tribunal
impacting going concern
status and company’s
operations in future;
N.A.
Details regarding adequacy of internal financial controls with
reference to financial statements [TextBlock]
Textual information (15)
[See below]
Disclosure of appointment and remuneration of managerial personnels
[TextBlock]
Textual information (16)
[See below]
Number of meetings of board [pure] 16
5
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Textual information (1)
Disclosure in board of directors report explanatory [Text Block]
DIRECTORS’ REPORT
To,
The Members,
Your Directors have pleasure in presenting their 20thAnnual Report on the business and operations of the Company and the audited accounts
for the Financial Year ended March 31, 2021.
FINANCIAL HIGHLIGHTS
Particulars
2020-21
Rupees
2019-20
Rupees
Sales and Other Income 9410207118 11797931817
Net Profit/(Loss) before Depreciation, Finance Charge & Taxation
4369976452 4471793839
Finance Charge 4328406563 4387368177
Depreciation 141633 227175
Exceptional and Extraordinary items - -
Profit /(Loss) for the year before taxation 41428256 84198487
Provision for taxation (including deferred tax provision) 4550470 153698
Profit /(Loss) for the year after taxation 36877786 84044789
Surplus/(Deficit) brought forward from previous year (1519209785) (1603254574)
Profit /(Loss) carried to Balance Sheet (1482331999) (1519209785)
6
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
The Directors hope that coming years are very bright in respect of the business of the Company.
1. Extract u/s 92: As provided under Section 92(3) of the Act, the extract of annual return is attached in Annexure -1 in the prescribed Form
MGT-9, which forms part of this report.
2 (A). Number of meeting of Board of Directors:
PERIOD: 01/04/2020TO 31/03/2021
MONTH BOARD MEETINGS
APRIL 13/04/2021
JUNE 03/06/2020
JULY 20/07/2020, 31/07/2020
SEPTEMBER 02/09/2020, 07/09/2020, 09/09/2020, 16/09/2020
OCTOBER 13/10/2020, 27/10/2020
NOVEMBER 09/11/2020
DECEMBER 01/12/2020, 08/12/2020, 31/12/2020
JANUARY 28/01/2021
FEBRUARY 02/02/2021
DIRECTORS’ ATTENDANCE
7
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
NAME OF DIRECTOR ATTENDANCE AT BOARD MEETING DURING 2020-21
BIJAL BHATT(Resigned on 31/07/2020) 3
RAJESH RAMESHCHANDRA VORA 16
MANISH AMRUTLAL SHAH(Appointed on 30/07/2020) 13
2 (B) . Number of CSR Committee Meeting by Committee Members:
PERIOD: 01/04/2020 TO 31/03/2021
MONTH COMMITTEE MEETING
SEPTEMBER 07/09/2020
JANUARY 28/01/2021
COMMITTEE MEMBERS’ ATTENDANCE
NAME OF DIRECTOR ATTENDANCE AT COMMITTEE MEETING DURING 2020-21
MANISH AMRUTLAL SHAH 2
RAJESH RAMESHCHANDRA VORA 2
3. Directors’ Responsibility Statement:
The Directors’ Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 shall state that-
(a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to
material departures;
8
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
(b) the directors had selected such accounting policies and applied them consistently and made judgments and estimate that are reasonable
and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of
the company for that year;
(c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of
this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;
(d) the directors had prepared the annual accounts on a going concern basis;
(e) As the clause is applicable to the directors, in the case of a listed company, regarding internal financial controls to be followed by the
company and that such internal financial controls are adequate and are operating effectively;, being a private limited company clause is not
applicable though the Company has in place adequate internal financial controls with reference to financial statements.
(f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were
adequate and operating effectively.
4. A statement on declaration given by independent directors under sub-section (6) of section 149:
As per provisions of sub-section (4) of Section 149 of The Companies Act, 2013, only listed companies and prescribed public
companies(according to rule 4,chapter XI, Companies (Appointment and qualification of Directors) Rules, 2014),shall be required to appoint
Independent Directors.
As the Company is Private Limited Company, not required to appoint Independent Directors, so there is no necessity of statement on
declaration by independent directors.
5.Company’s policy relating to directors appointment, payment of remuneration and discharge of their duties:
The provisions of Section 178(1) relating to constitution of Nomination and Remuneration Committee are not applicable to the Company and
hence the Company has not devised any policy relating to appointment of Directors, payment of Managerial remuneration, Directors
qualifications, positive attributes, independence of Directors and other related matters as provided under Section 178(3) of the Companies.
9
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
6. Statutory Auditors:
M/s Adwani Peshavaria & Co., Chartered Accountants, (Firm Registration no. (137123W) Ahmedabad, were appointed as a
Statutory Auditor of the Company to hold office from the conclusion of 19th Annual General Meeting of the company held in year 2020, till
the conclusion of the 24th Annual General Meeting to be held in 2025, on a remuneration to be determined by the Board of Directors of the
Company.
They have confirmed that they are not disqualified from continuing as Auditors of the Company.
7. Auditor’s Report:
The Board has duly reviewed the Statutory Auditor’s Report on the Accounts. The observations and comments, appearing in the Auditor’s
report are self-explanatory and do not call for any further explanation / clarification by the board of directors under section 134(3) (f) of the
Companies Act, 2013.
8. Particulars of Loan, Guarantees or Investments under section 186:
The particulars of loans, guarantees and investments have been disclosed in the financial statements.
9. Particulars of Contracts or Arrangements with related parties under section 188:
All the related party transactions were entered by the Company in ordinary course of business and were in arm's length basis if any. The
Company presents all related party transactions before the Board specifying the nature, value, and terms and conditions of the transaction.
Transactions with related parties are conducted in a transparent manner in the interest of the Company and Stakeholders as utmost priority.
During the year under review Company had not entered into any transactions with related parties which could be considered material in terms
of Section 188 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.
10. The state of the company’s affairs:
The Directors are hopeful for better growth of the Company in Future.
11. Share Capital:
10
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
The paid up Equity Share Capital as at March 31, 2021 stood at Rs. 4,07,000/-. During the year under review, the Company has not issued
shares with differential voting rights nor has granted any stock options or sweat equity.
12. The amounts, if any, which it proposes to carry to any reserves;
The Directors decided not to transfer the profit to any reserve.
13. The amount, if any, which it recommends should be paid by way of dividend;
With view to conserve the resources of the Company, considering the future prospects of the Company, your Directors sincerely desire to
plough back the profit generated during the course of the business of the Company. Hence, Directors have not recommended any dividend on
Equity Shares.
14. Secretarial Audit Report:
Secretarial Audit is applicable to listed company and every public company having paid up share capital of Rs. 50 crore or more or having a
turnover of Rs. 250 crore or more, w.e.f. 01/04/2020, (vide notification dated January 03, 2020), it is also applicable for every company
having outstanding loans or borrowings from banks or public financial institutions of Rs. 100 crore or more.
Our Company does not meet the criteria of this new clause, so Secretarial Audit Report is not applicable to our Company.
15. Material Changes and Commitments, if any;
During the year under review, there is no material changes occurred between the end of the financial year of the company to which the
financial statements relate and the date of the report .
16.The conservation of energy, technology absorption, foreign exchange earnings and outgo:
As Company does not have any manufacturing Activities.A statement containing the information as per Section 134 (3) (m) of the
Companies Act 2013read with rule 8 of The Companies (Accounts) rules, 2014 is not appended.
During the year under review, Earning and Outgo in foreign currency is nil.
11
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
17. Risk Management:
The Company does not have any Risk Management Policy as the element of risk threatening the Company’s existence is very minimal.
18. Corporate Social Responsibility:
As per section 135 of the Companies Act, 2013, read with rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014, ,
a Corporate Social Responsibility(CSR) Committee of the Board of Directors of the company has constituted CSR committee comprising of
the following:
Mr. Manish Amrutlal Shah Mr. Rajesh RameshchandraVora
During the year under review, the Company was not required to make any mandatory CSR as per section 135 of the Companies Act, 2013.
19. Internal Audit:
During the year under review, It is observed from Annual Financial Statement for preceding financial year, that the company is eligible
company & qualifying under section 138 of the Companies Act, 2013 to appoint the Internal Auditor for the year 2020-21. M/S Ravindra B.
Mehta & Associates, Chartered Accountants, Firm Registration No.(118543W) appointed as an Internal Auditor of the company to cover the
areas required to be audited as detailed in the exhibit placed before the Board.
20. Formal Annual Evaluation:
Formal Annual Evaluation is applicable to listed company and other public company having paid up share capital of Rs.25 crore or more. So
attachment of formal annual evaluation of performance of the Board and its individual directors are not required.
21. Subsidiary, Joint venture And Associate Company:
Your Directors are pleased to inform you that during the year under review, the wholly owned subsidiaries of the your company Top
Infrastructure Private Limited &VyomTradelink Private Limited have become merged under section 233 of the Companies Act, 2013, by the
order dated 29/01/2020.
Now the Company has no Subsidiary, Joint Venture and Associate Company, so FORM AOC-1 is not required for the Company.
22. Other Disclosure:
12
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
(i)the change in nature of business, if any; N.A
(ii)the details of directors or key managerial personnel who were appointed or have resigned during the year;
During the year under review, Mr. Bijal M Bhatt was appointed as an Additional Director of the Company, by the board w.e.f 03/06/2020.
During the year under review, Mr. Bijal M Bhatt, Director of the Company tendered his resignation from the Board Of directors of the
Company w.e.f. 31/07/2020, due to pre-occupation.
The Board acknowledges his contribution to the Company.
APPOINTMENT OF DIRECTOR
During the year under review, Mr. Manish A Shah, was appointed as an Additional Director of the Company, by the board w.e.f 30/07/2020
and hold office up to the ensuing Annual General Meeting.
The Board recommends appointment of Mr. Manish A Shah as director of the Company in previous Annual General Meeting.
CESSATION OF DIRECTOR:
The Board of Director expresses their deep condolences at the untimely and sad demise of Mr. Dipak Ambalal Shah,
(Din:00331993) Director of the Company, on 18th May, 2020. The Board of Director place on record a deep appreciation for the valuable
services rendered by Mr. DipakAmnbalal Shah during his tenure as a Director of the Company.
The Board acknowledges his contribution to the Company.
Change the designation of director:
During the year under review and up to the date of report, the designation of Mr. Manish A Shah, Din: (00118930), has changed from
13
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
director to Managing Director w.e.f. 01/04/2021 with approval of Board of Directors.
(iii) details of deposits as per chapter V of the Act; N.A.
(iv) details in respect of adequacy of internal financial controls with reference to financial statements; N.A.
(v) the details of significant or material orders passed by the regulators/court/tribunal impacting going concern status and company’s
operations in future; N.A.
(vi)the names of companies which have become or ceased to be its Subsidiaries, joint ventures or associate companies during the year; N.A.
23. Prevention of Sexual Harassment at Workplace:
As per the requirement of The Sexual Harassment of Women at Workplace (Prevention, Prohibition &Redressal) Act, 2013 read with rules
made thereunder, your Company has constituted Internal Complaints Committee which is responsible for redressal of complaint related to
sexual harassment. During the year under review, there were no complaints pertaining to sexual harassment.
24. Maintenance of Cost Records:
Maintenance of Cost Records as specified by the Central Government under sub-section (1) of Section 148 of the Companies Act, 2013, is
not required by the Company and accordingly such accounts and records are not made and maintained.
25. Personnel:
The particulars of employees as required by Rule 5 of Companies (Appointment and Remuneration of Managerial Personnel) Amendment
Rules, 2016 are not given, as no employee is in receipt of remuneration Rs. 1,02,00,000 or more in a year or Rs. 8,50,000 or more per month.
26. Acknowledgement:
An acknowledgement to all with whose help, cooperation and hard work the Company is able to achieve the results.
14
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Place: Ahmedabad For on behalf of the Board
Date: 04/11/2021
_________________________
MANISH A SHAH
Managing Director
(DIN: 00118930)
Textual information (2)
Disclosures relating to amount recommended to be paid as dividend
With view to conserve the resources of the Company, considering the future prospects of the Company, your Directors sincerely desire to
plough back the profit generated during the course of the business of the Company. Hence, Directors have not recommended any dividend on
Equity Shares.
Textual information (3)
Details regarding energy conservation
As Company does not have any manufacturing Activities.A statement containing the information as per Section 134 (3) (m) of the
Companies Act 2013read with rule 8 of The Companies (Accounts) rules, 2014 is not appended.
Textual information (4)
Details regarding technology absorption
As Company does not have any manufacturing Activities.A statement containing the information as per Section 134 (3) (m) of the
Companies Act 2013read with rule 8 of The Companies (Accounts) rules, 2014 is not appended.
15
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Textual information (5)
Disclosures in director’s responsibility statement
The Directors’ Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 shall state that- (a) in the preparation of
the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;
(b) the directors had selected such accounting policies and applied them consistently and made judgments and estimate that are reasonable
and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of
the company for that year; (c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other
irregularities; (d) the directors had prepared the annual accounts on a going concern basis; (e) As the clause is applicable to the directors, in
the case of a listed company, regarding internal financial controls to be followed by the company and that such internal financial controls are
adequate and are operating effectively;, being a private limited company clause is not applicable though the Company has in place adequate
internal financial controls with reference to financial statements. (f) the directors had devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and operating effectively.
Textual information (6)
Details of material changes and commitment occurred during period affecting financial position of company
During the year under review, there is no material changes occurred between the end of the financial year of the company to which the
financial statements relate and the date of the report .
Textual information (7)
Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
All the related party transactions were entered by the Company in ordinary course of business and were in arm's length basis if any. The
Company presents all related party transactions before the Board specifying the nature, value, and terms and conditions of the transaction.
Transactions with related parties are conducted in a transparent manner in the interest of the Company and Stakeholders as utmost priority.
During the year under review Company had not entered into any transactions with related parties which could be considered material in terms
of Section 188 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.
Textual information (8)
Details of statement indicating manner in which formal annual evaluation made by board of its performance and
of its committees and individual directors [Text Block]
Formal Annual Evaluation is applicable to listed company and other public company having paid up share capital of Rs.25 crore or more. So
attachment of formal annual evaluation of performance of the Board and its individual directors are not required.
16
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Textual information (9)
Disclosure of extract of annual return as provided under section 92(3) [Text Block]
FORM NO. MGT-9
EXTRACT OF
ANNUAL RETURN
As on the financial year
ended on 31/03/2021
[Pursuant to section
92(3) of the Companies
Act, 2013 and rule 12(1)
of the Companies
(Management and
Administration) Rules,
2014]
I. REGISTRATION
AND OTHER
DETAILS:
i)
CIN
:
U51909GJ2001PTC039872
ii)
Registration
Date
9/8/2001
iii)
Name of the
Company
MILESTONE TRADELINKS
PRIVATE LIMITED
iv) a) Category of the Company
COMPANY LIMITED BY
SHARES
b) Sub-Category of the Company
INDIAN NON-GOVERNMENT
COMPANY
v) Address of the Registered office and contact details
203, ANAND MILAN COMPLEX,
OPP. NAVRANGPURA JAIN
DERASAR,
NAVRANGPURA,AHMEDABAD-
380009
17
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
vi) Whether listed
company
No
vii)
Name, Address and Contact details of Registrar and
Transfer Agent, if any
N/A
II. PRINCIPAL
BUSINESS
ACTIVITIES OF THE
COMPANY :
All the business
activities contributing
10 % or more of the
total turnover of the
company shall be
stated:-
Sr. No. Name and Description of main Products / Services
NIC Code o
Product/ Se
1 wholesale of Metals 4662
III. PARTICULARS
OF HOLDING,
SUBSIDIARY AND
ASSOCIATE
COMPANIES -
Sr. No. Name And Address of the Company CIN/GLN
IV. SHARE HOLDING
PATTERN (Equity
18
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Share Capital Breakup
as percentage of Total
Equity)
A. Category-wise Share
Holding
Category of
Shareholders
No. of Shares held at the beginning of the year
Demat Physical Total % of Total S
A. Promoters
(1) Indian
a). Individual/HUF ----- 23600 23600 57.98%
b).Central Govt ----- ----- ----- -----
c). State Govt (s) ----- ----- ----- -----
d).Bodies Corp. ----- ----- ----- -----
e).Banks / FI ----- ----- ----- -----
f). Any Other - ----- ----- ----- -----
Sub-total (A) (1):- ----- 23600 23600 57.98%
(2) Foreign
a) NRIs -
Individuals
NOT APPLICABLE
19
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
b) Other – Individuals
c) Bodies Corp.
d) Banks / FI
e) Any Other….
Sub-total (A)
(2):-
----- ----- ----- -----
Total shareholding of
Promoter (A) =
(A)(1)+(A)(2)
----- 23600 23600 57.98%
B. Public Shareholding
1. Institutions
a) Mutual Funds NOT APPLICABLE3
b) Banks / FI
c) Central Govt
d) State Govt(s)
e) Venture Capital
Funds
f) Insurance Companies
g) FIIs
h) Foreign Venture
Capital Funds
i) Others (specify)
20
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Sub-total(B)(1):- ----- ----- ----- -----
2. Non-Institutions
a) Bodies Corp.
i) Indian NOT APPLICABLE
ii) Overseas
b) Individuals
i) Individual
shareholders holding
nominal share capital
upto Rs. 1
lakh
----- 17100 17100 42.02%
ii) Individual
shareholders holding
nominal share capital in
excess of Rs 1 lakh
----- ----- ----- -----
c) Others
(specify)
Sub-total(B)(2):- ----- 17100 17100 42.02%
Total Public
Shareholding(B)=
(B)(1)+(B)(2)
----- ----- ----- -----
C. Shares held by
Custodian for GDRs &
ADRs
----- ----- ----- -----
Grand Total (A+B+C) ----- 40700 40700 100%
21
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
B.Shareholding of
Promoters
Sr No. Shareholder’s Name
Shareholding at the
beginning of the
year
No. of Shares % of total Shares of the Company
% of Shares
/ encumbere
shares
1 ASHISH SHAH 23600 58% -----
Total 23600 58% -----
C. Change in Promoters’
Shareholding ( please
specify, if there is no
change)
Sr. No. Shareholder’s Name
Shareholding at the
beginning of the
year
Change in
Shareholdin
(No. of Sha
No. of Shares % of total Shares of the Company Increase
NO CHANGE
CUMULATIVE SHAREHOLDING
D. Shareholding Pattern
of top ten Shareholders
(other than Directors,
Promoters and Holders
of GDRs and ADRs):
22
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Sr. No. Shareholder’s Name
Shareholding at the
beginning of the
year
Change in
Shareholdin
(No. of Sha
No. of Shares % of total Shares of the Company Increase
1 RAVJIBHAI PATEL 5000 12.29% ----
2 JAYESH PATEL 5000 12.29% ----
3 RAJESH MANDAPWALA 7029 17.27% ----
4 YOGESH SHAH 68 0.17% 2
5 DIPAK SHAH 2 0.00%
6 HASAN H. MANSORI 1 0.00% ----
CUMULATIVE SHAREHOLDING 17100 42.02% 2
E.Shareholding of
Directors and Key
Managerial Personnel:
Sr. No. For each of the Directors and KMP
Shareholding at the
beginning of the
year
Change in
Shareholdin
(No. of Sha
No. of Shares % of total Shares of the Company Increase
NOT APPLICABLE
CUMULATIVE SHAREHOLDING
23
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
V. INDEBTEDNESS
Indebtedness of the
Company including
interest
outstanding/accrued but
not due for payment
Particulars Secured Loans excluding deposits Unsecured Loans
Indebtedness at the
beginning of
the financial year
i) Principal Amount ----- 47948939739
ii) Interest due but not
paid
----- -----
iii) Interest accrued but
not due
----- -----
Total (i+ii+iii) ----- 47948939739
Change in Indebtedness
during the financial year
· Addition ----- 227252375863
· Reduction ----- 244327660500
Net Change ----- -17075284637
Indebtedness at the end
of the financial year
i) Principal Amount ----- 30873655102
ii) Interest due but not
paid
----- -----
iii) Interest accrued but
not due
----- -----
Total (i+ii+iii) ----- 30873655102
24
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
VI.
REMUNERATION OF
DIRECTORS AND
KEY MANAGERIAL
PERSONNEL
A. Remuneration to
Managing Director,
Whole-time Directors
and/or Manager:
Sr. No. Particulars of Remuneration
Name of
MD/WTD/Manager
1 Gross salary
(a) Salary as per provisions contained in section 17(1)
of the Income-tax Act, 1961
---- ----
(b) Value of perquisites u/s 17(2)Income-tax Act,
1961
---- ----
(c) Profits in lieu of salary under section 17(3)
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 ---- ----
25
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
B. Remuneration to
other directors:
Sr. No. Particulars of Remuneration Name of Director TOTAL
Mr. Rajesh Vora
1 Independent Directors
· Fee for attending board / committee meetings ----- -----
· Commission ----- -----
· Others, please specify ----- -----
Total (1)
2 Other Executive Directors
· Fee for attending board / committee meetings ----- -----
· Commission ----- -----
· Others-REMUNERATION 927432 927432
Total (2) 927432 927432
Total (B)=(1+2) 927432 927432
Total Managerial Remuneration Overall Ceiling as per
the Act
----- -----
C. Remuneration to
Key Managerial
Personnel other than
MD/WTD/Manager
26
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Sr. No. Particulars of Remuneration Key Managerial
Personnel
CEO Company S
1 Gross salary
(a) Salary as per provisions contained in section 17(1)
of the Income-tax Act, 1961
----- -----
(b) Value of perquisites u/s 17(2) Income-tax Act,
1961
----- -----
(c) Profits in lieu of salary under section 17(3)
Income-tax Act, 1961
----- -----
2 Stock Option ----- -----
3 Sweat Equity ----- -----
4 Commission
- as % of profit ----- -----
-others, specify… ----- -----
5 Others, please specify ----- -----
Total ----- -----
VII. PENALTIES /
PUNISHMENT/
COMPOUNDING OF
OFFENCES:
Type Section of the Companies Act Brief Description
A. COMPANY
27
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Penalty ----- -----
Punishment ----- -----
Compounding ----- -----
B.DIRECTORS
Penalty ----- -----
Punishment ----- -----
Compounding ----- -----
C.OTHER OFFICERS
IN DEFAULT
Penalty ----- -----
Punishment ----- -----
Compounding ----- -----
____________________
MANISH A SHAH
MANAGING
DIRECTOR
(DIN:00118930)
28
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Textual information (10)
Disclosure of statement on declaration given by independent directors under section 149(6) [Text Block]
As per provisions of sub-section (4) of Section 149 of The Companies Act, 2013, only listed companies and prescribed public
companies(according to rule 4,chapter XI, Companies (Appointment and qualification of Directors) Rules, 2014),shall be required to appoint
Independent Directors.
As the Company is Private Limited Company, not required to appoint Independent Directors, so there is no necessity of statement on
declaration by independent directors.
Textual information (11)
Disclosure for companies covered under section 178(1) on directors appointment and remuneration including
other matters provided under section 178(3) [Text Block]
The provisions of Section 178(1) relating to constitution of Nomination and Remuneration Committee are not applicable to the Company and
hence the Company has not devised any policy relating to appointment of Directors, payment of Managerial remuneration, Directors
qualifications, positive attributes, independence of Directors and other related matters as provided under Section 178(3) of the Companies
Textual information (12)
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
As per section 135 of the Companies Act, 2013, read with rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014, ,
a Corporate Social Responsibility(CSR) Committee of the Board of Directors of the company has constituted CSR committee comprising of
the following:
Mr. Manish Amrutlal Shah Mr. Rajesh RameshchandraVora
During the year under review, the Company was not required to make any mandatory CSR as per section 135 of the Companies Act, 2013.
29
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Textual information (13)
Disclosure of financial summary or highlights [Text Block]
FINANCIAL HIGHLIGHTS
Particulars
2020-21
Rupees
2019-20
Rupees
Sales and Other Income 9410207118 11797931817
Net Profit/(Loss) before Depreciation, Finance Charge & Taxation 4369976452 4471793839
Finance Charge 4328406563 4387368177
Depreciation 141633 227175
Exceptional and Extraordinary items - -
Profit /(Loss) for the year before taxation 41428256 84198487
Provision for taxation (including deferred tax provision) 4550470 153698
Profit /(Loss) for the year after taxation 36877786 84044789
Surplus/(Deficit) brought forward from previous year (1519209785) (1603254574)
Profit /(Loss) carried to Balance Sheet (1482331999) (1519209785)
The Directors hope that coming years are very bright in respect of the business of the Company.
30
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Textual information (14)
Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block]
(ii)the details of directors or key managerial personnel who were appointed or have resigned during the year;
During the year under review, Mr. Bijal M Bhatt was appointed as an Additional Director of the Company, by the board w.e.f 03/06/2020.
During the year under review, Mr. Bijal M Bhatt, Director of the Company tendered his resignation from the Board Of directors of the
Company w.e.f. 31/07/2020, due to pre-occupation.
The Board acknowledges his contribution to the Company.
APPOINTMENT OF DIRECTOR
During the year under review, Mr. Manish A Shah, was appointed as an Additional Director of the Company, by the board w.e.f 30/07/2020
and hold office up to the ensuing Annual General Meeting.
The Board recommends appointment of Mr. Manish A Shah as director of the Company in previous Annual General Meeting.
CESSATION OF DIRECTOR:
The Board of Director expresses their deep condolences at the untimely and sad demise of Mr. Dipak Ambalal Shah, (Din:00331993)
Director of the Company, on 18th May, 2020. The Board of Director place on record a deep appreciation for the valuable services rendered
by Mr. DipakAmnbalal Shah during his tenure as a Director of the Company.
The Board acknowledges his contribution to the Company.
Change the designation of director:
During the year under review and up to the date of report, the designation of Mr. Manish A Shah, Din: (00118930), has changed from
director to Managing Director w.e.f. 01/04/2021 with approval of Board of Directors.
(iii) details of deposits as per chapter V of the Act; N.A.
(iv) details in respect of adequacy of internal financial controls with reference to financial statements; N.A.
(v) the details of significant or material orders passed by the regulators/court/tribunal impacting going concern status and company’s
operations in future; N.A.
(vi)the names of companies which have become or ceased to be its Subsidiaries, joint ventures or associate companies during the year; N.A.
Textual information (15)
Details regarding adequacy of internal financial controls with reference to financial statements [Text Block]
As the clause is applicable to the directors, in the case of a listed company, regarding internal financial controls to be followed by the
company and that such internal financial controls are adequate and are operating effectively;, being a private limited company clause is not
applicable though the Company has in place adequate internal financial controls with reference to financial statements.
31
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Textual information (16)
Disclosure of appointment and remuneration of managerial personnels [Text Block]
APPOINTMENT OF DIRECTOR
During the year under review, Mr. Manish A Shah, was appointed as an Additional Director of the Company, by the board w.e.f 30/07/2020
and hold office up to the ensuing Annual General Meeting.
The Board recommends appointment of Mr. Manish A Shah as director of the Company in previous Annual General Meeting.
CESSATION OF DIRECTOR:
The Board of Director expresses their deep condolences at the untimely and sad demise of Mr. Dipak Ambalal Shah,
(Din:00331993) Director of the Company, on 18th May, 2020. The Board of Director place on record a deep appreciation for the valuable
services rendered by Mr. DipakAmnbalal Shah during his tenure as a Director of the Company.
The Board acknowledges his contribution to the Company.
32
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
[400200] Disclosures - Auditors report
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 INR
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis]
Auditor's
favourable remark
[Member]
Clause not
applicable
[Member]
01/04/2020
to
31/03/2021
01/04/2020
to
31/03/2021
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
(17) [See below]
Disclosure in auditors report relating to inventories
Textual information
(18) [See below]
Disclosure in auditors report relating to loans
Textual information
(19) [See below]
Disclosure in auditors report relating to compliance with Section 185 and 186 of
Companies Act, 2013
Textual information
(20) [See below]
Disclosure in auditors report relating to deposits accepted
Textual information
(21) [See below]
Disclosure in auditors report relating to maintenance of cost records
The maintenance
of Cost Records has
not been specified
by the Central
Government under
sub-section (1) of
Section 148 of the
Act, in respect of
the activities carried
on by the company.
Disclosure in auditors report relating to statutory dues [TextBlock]
Textual information
(22) [See below]
Disclosure in auditors report relating to default in repayment of financial dues
Textual information
(23) [See below]
Disclosure in auditors report relating to public offer and term loans used for
purpose for which those were raised
Textual information
(24) [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
(25) [See below]
Disclosure in auditors report relating to managerial remuneration
Textual information
(26) [See below]
Disclosure in auditors report relating to Nidhi Company
In our opinion, the
Company is not a
Nidhi Company and
the Nidhi Rules,
2014 are not
applicable to it.
Accordingly, the
provisions of
Clauses 3 (xii) of
the Order are not
applicable.
Disclosure in auditors report relating to transactions with related parties
Textual information
(27) [See below]
Disclosure in auditors report relating to preferential allotment or private
placement of shares or convertible debentures
Textual information
(28) [See below]
Disclosure in auditors report relating to non-cash transactions with directors
or persons connected with him
Textual information
(29) [See below]
Disclosure in auditors report relating to registration under section 45-IA of
Reserve Bank of India Act, 1934
Textual information
(30) [See below]
33
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Details regarding auditors [Table] ..(1)
Unless otherwise specified, all monetary values are in INR
Auditors [Axis] 1
01/04/2020
to
31/03/2021
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
Name of audit firm
A D W A N I
PESHAVARIA
AND CO
Name of auditor signing report
PESHAVARIA
D H A V A L
VINODBHAI
Firms registration number of audit firm 137123W
Membership number of auditor 147712
Address of auditors A-428, SUMEL
Permanent account number of auditor or auditor's firm AAYFA5090N
SRN of form ADT-1 S40827917
Date of signing audit report by auditors 04/11/2021
Date of signing of balance sheet by auditors 04/11/2021
Unless otherwise specified, all monetary values are in INR
01/04/2020
to
31/03/2021
Disclosure in auditor’s report explanatory [TextBlock]
Textual information (31)
[See below]
Whether companies auditors report order is applicable on company Yes
Whether auditors' report has been qualified or has any reservations or
contains adverse remarks
No
Textual information (17)
Disclosure in auditors report relating to fixed assets
(i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed
assets. (b) According to the information and explanations given to us, the Company has a program of physically verifying its fixed assets in
a phased manner designed to cover all assets, which in our opinion is reasonable having regards to the size of the company and the nature of
its business. Accordingly, during the year the management had carried out physical verification for assets and no material discrepancies were
noticed on such verification. (c) The Company does not have any immovable property in its name, accordingly the provisions of paragraph
1 (c) of the Order are not applicable.
Textual information (18)
Disclosure in auditors report relating to inventories
The company carries out its business activities through back to back sales and purchase with their parties in such circumstances it does not
hold any physical inventory. Accordingly the provisions of paragraph 3 (ii) of the Order are not applicable.
Textual information (19)
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 granted
loans, secured or unsecured to companies, firms, Limited Liability Partnerships or other parties covered in the register maintained under
section 189 of the Companies Act, 2013. Accordingly, the provisions of paragraph 3 (iii) (a) to (c) of the Order are not applicable.
Textual information (20)
Disclosure in auditors report relating to compliance with Section 185 and 186 of Companies Act, 2013
According to the information and explanations given to us and representations made by the Management, the Company has not granted any
loans or provided any guarantees or securities to the parties covered under Section 185 of the Act. The Company has complied with the
provisions of Section 186 of the Act in respect of grant of loans.
34
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Textual information (21)
Disclosure in auditors report relating to deposits accepted
The Company has not accepted any deposits from the public and hence the directives issued by the Reserve Bank of India and the
provisions of Sections 73 to 76 or any other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with
regards to the deposits accepted from the public are not applicable.
Textual information (22)
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. As
explained to us, the Company did not have any dues on account of employees’ state insurance, sales tax, service tax, duty of customs, value
added tax, cess, provident fund and duty of excise.
(b) According to the information and explanations given to us, no undisputed amounts payable in respect of statutory dues as referred above
were in arrears as at 31st March 2021 for a year of more than six months from the date they became payable.
(c) According to the records of the Company and representations made by the Management, there are no statutory dues as mentioned in
paragraph 3(vii)(a) which have not been deposited on account of any dispute.
Textual information (23)
Disclosure in auditors report relating to default in repayment of financial dues
The Company has not taken any loan either from banks, financial institutions or from the government and has not issued any debentures.
Accordingly, the provisions of paragraph 3(viii) of the Order are not applicable.
Textual information (24)
Disclosure in auditors report relating to public offer and term loans used for purpose for which those were raised
Based upon the audit procedures performed and the information and explanations given by the management, the company has not raised
moneys by way of initial public offer or further public offer including debt instruments and Term Loans.
Textual information (25)
Disclosure in auditors report relating to fraud by the company or on the company by its officers or its employees
reported during period
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 fraud
on or by the company, noticed or reported during the year, nor have we been informed of any such case by the management.
35
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Textual information (26)
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, though
managerial remuneration has been paid/ provided, the Company being a private limited company, provisions of Section 197 read with
Schedule V of the Companies Act, 2013 is not applicable to the Company.
Textual information (27)
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 are in compliance with section 177 and 188 of Companies Act 2013 and all the details have been disclosed in financial
statements as required by the applicable Accounting Standards.
Textual information (28)
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 on the basis of our examination of the records, the Company has not made
any preferential allotment or private placement or not issued any debenture during the year under review. Accordingly, the provisions of
paragraph 3(xiv) of the Order are not applicable.
Textual information (29)
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 on the basis of our examination of the records, Company has not entered into
any non-cash transactions with any director or any person connected with him. Accordingly, the provisions of Clauses 3(xv) of the Order are
not applicable to the Company.
Textual information (30)
Disclosure in auditors report relating to registration under section 45-IA of Reserve Bank of India Act, 1934
Based on our examination of the financial statements of the company and as per the information and explanations given to us, company is
not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, the provisions of Clauses 3(xvi) of
the Order are not applicable to the Company.
36
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Textual information (31)
Disclosure in auditor’s report explanatory [Text Block]
INDEPENDENT AUDITORS REPORT
To the Members of Milestone Tradelinks Private Limited
Report on the Financial Statements
Opinion
We have audited the accompanying Financial Statements of Milestone Tradelinks Private Limited (the Company), which comprise the
Balance Sheet as at 31st March 2021, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended and notes to the
financial statements, including a summary of significant accounting policies and other explanatory information (herein after referred to as
Financial Statements)
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Financial Statements give the
information required by the Companies Act, 2013 (the Act) in the manner so required and give a true and fair view in conformity with the
accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March 2021, its Profits and Cash Flows for
the year ended on that date.
Basis for Opinion
We conducted our audit of the Financial Statements in accordance with the Standards on Auditing specified under section 143(10) of the
Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditors Responsibilities for the Audit of the
Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute
of Chartered Accountants of India (ICAI) together with the independence requirements that are relevant to our audit of the Financial
Statements under the provisions of the Companies Act, 2013 and the Rules made there under and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the ICAIs Code of Ethics. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our audit opinion on these Financial Statements.
Managements Responsibility for the Financial Statements
The Companys Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 (the Act) with respect to
the preparation and presentation of these Financial Statements that give a true and fair view of the financial position and financial
37
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
performance of the Company in accordance with the accounting principles generally accepted in India, including the applicable Accounting
Standards prescribed under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding
of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate
accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of
adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the Financial
Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Financial Statements, management is responsible for assessing the Companys ability to continue as a going concern,
disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends
to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those Board of Directors are also responsible for overseeing the Companys financial reporting process.
Auditors Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement,
whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance, but
is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements
can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit.
We also:
Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit
procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk
of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances.
Under section 143(3)(i) of Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial
controls system in place and the operating effectiveness of such controls
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by
management.
Conclude on the appropriateness of managements use of the going concern basis of accounting and, based on the audit evidence obtained,
whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companys ability to continue as a
38
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related
39
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditors report. However, future events or conditions may cause the Company to cease to continue as
a going concern.
Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the Financial
Statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditors Report) Order, 2016 (the Order) issued by the Central Government of India in terms of
sub-section (11) of section 143 of the Act, we give in Annexure A statement on the matters specified in the paragraph 3 and 4 of the Order, to
the extent applicable.
2. As required by Section 143(3) of the Act, we report that:
(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purposes of our audit.
(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination
of those books
(c) The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this Report are in agreement with the
books of account.
(d) In our opinion, the aforesaid Financial Statements comply with the Accounting Standards specified under Section 133 of the Act, read
with Rule 7 of the Companies (Accounts) Rules, 2014.
(e) On the basis of the written representations received from the directors as on 31st March, 2021 taken on record by the Board of
Directors, none of the directors is disqualified as on 31st March, 2021 from being appointed as a director in terms of Section 164(2) of the
Act.
(f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness
of such controls, refer to our separate Report in Annexure B.;
(g) With respect to the other matters to be included in the Auditors Report in accordance with Rule 11 of the Companies (Audit and
Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:
40
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
i. The Financial Statements disclose the impact of pending litigations on the financial position of the Company Refer Note 32 to the
Financial Statements;
ii. The company did not have any long-term contracts including derivative contracts for which there were any material foreseeable
losses;
iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the company;
With respect to the matters to be included in the Auditors Report in accordance with the requirements of section 197 (16) of the Act, as
amended:
According to the information and explanations given to us and on the basis of our examination of the records of the company, though
managerial remuneration has been paid/ provided, the Company being a private limited company, provisions of Section 197 read with
Schedule V of the Companies Act, 2013 is not applicable to the Company.
For, Adwani Peshavaria & Co.
Chartered Accountants
(Firm Reg. No. 137123W)
Place: Ahmedabad
Date : 4th November, 2021
Dhaval V Peshavaria
Partner
Membership No. 147712
UDIN: 21147712AAAAGJ4595
Referred to in paragraph 2 (f) under Report on Other Legal and Regulatory Requirements section of our Report of even date)
Report on the Internal Financial Controls under Clause (i) of sub-section 3 of section 143 of the Companies Act 2013 (the act).
41
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Opinion
We have audited the internal financial controls over financial reporting of Milestone Tradelinks Private Limited (the company) as of 31st
March, 2021 in conjunction with our audit of the financial statements of the company for the year ended on that date.
In our opinion, the company is not having any defined SOP to manage its operations. Accordingly, there are some limitations in the control
aspects of financial reporting. In our opinion, except for the possible effects of the this material weakness, the company has maintained in all
material respects, an adequate internal financial controls over financial reporting and such internal financial controls over financial reporting
were operating effectively as of 31st March 2021 based on the internal financial controls over financial reporting criteria established by the
company considering the essential components of internal financial controls stated in the Guidance Note on audit of internal financial
controls over financial reporting issued by the Institute of Chartered Accountants of India.
Managements Responsibilities for Internal Financial Controls
The Companys management is responsible for establishing and maintaining internal financial controls based on the internal control over
financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note
on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. These
responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for
ensuring the orderly and efficient conduct of its business, including adherence to companys policies, the safeguarding of its assets, the
prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable
financial information, as required under the Companies Act, 2013.
Auditors Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We
conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the Guidance
Note) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the
extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the
Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and
plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was
established and maintained and if such controls operated effectively in all material respects.
42
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Annexure - B to The Independent Auditors Report (Continued)
RE: Milestone Tradelinks Private Limited
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial
reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an
understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and
evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the
auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companys
internal financial controls system over financial reporting.
Meaning of Internal Financial Controls over Financial Reporting
A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles. A company's internal financial control over financial reporting includes those policies and procedures that
(1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets
of the company;
(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with
authorizations of management and directors of the company; and
(3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's
assets that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper
management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any
evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control
over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
For, Adwani Peshavaria & Co.
Chartered Accountants
(Firm Reg. No. 137123W)
43
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Place: Ahmedabad
Date : 4th November, 2021
Dhaval V Peshavaria
Partner
Membership No. 147712
UDIN: 21147712AAAAGJ4595
[400500] Disclosures - Secretarial audit report
Unless otherwise specified, all monetary values are in INR
01/04/2020
to
31/03/2021
Disclosure in secretarial audit report explanatory [TextBlock]
Whether secretarial audit report is applicable on company No
44
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
[100100] Balance sheet
Unless otherwise specified, all monetary values are in INR
31/03/2021 31/03/2020
Balance sheet [Abstract]
Equity and liabilities [Abstract]
Shareholders' funds [Abstract]
Share capital 4,07,000 4,07,000
Reserves and surplus (A) 45,43,62,688 (B) 41,74,84,902
Total shareholders' funds 45,47,69,688 41,78,91,902
Share application money pending allotment 0 0
Non-current liabilities [Abstract]
Long-term borrowings 29,46,21,392 54,93,26,097
Other long-term liabilities 0 0
Long-term provisions 0 0
Total non-current liabilities 29,46,21,392 54,93,26,097
Current liabilities [Abstract]
Short-term borrowings 3,057,90,33,710 4,739,96,13,642
Trade payables 6,69,53,686 108,93,56,763
Other current liabilities 4,34,24,760 28,58,27,142
Short-term provisions 0 0
Total current liabilities 3,068,94,12,156 4,877,47,97,547
Total equity and liabilities 3,143,88,03,236 4,974,20,15,546
Assets [Abstract]
Non-current assets [Abstract]
Fixed assets [Abstract]
Tangible assets 6,49,277 7,90,910
Intangible assets 67,18,26,628 67,18,26,628
Total fixed assets 67,24,75,905 67,26,17,538
Non-current investments 560,53,85,161 525,07,96,429
Deferred tax assets (net) 4,23,267 4,81,990
Long-term loans and advances 211,95,68,061 186,27,40,303
Total non-current assets 839,78,52,394 778,66,36,260
Current assets [Abstract]
Current investments 2,15,42,253 26,25,23,960
Inventories 0 0
Trade receivables 18,11,84,309 120,31,11,053
Cash and bank balances 5,70,79,595 21,27,111
Short-term loans and advances 2,199,08,06,541 3,979,85,67,387
Other current assets 79,03,38,144 68,90,49,775
Total current assets 2,304,09,50,842 4,195,53,79,286
Total assets 3,143,88,03,236 4,974,20,15,546
Footnotes
(A) (b) Reserves and Surplus : 124362688 (c) Instrument Entirely in Equity Nature : 330000000
(B) (b) Reserves and Surplus : 87484902 (c) Instrument Entirely in Equity Nature : 330000000
45
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
[400300] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)
Unless otherwise specified, all monetary values are in INR
Directors signing financial statements [Axis] 1 2
01/04/2020
to
31/03/2021
01/04/2020
to
31/03/2021
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 MANISH RAJESH
Middle name of director AMRUTLAL RAMESHCHANDRA
Last name of director SHAH VORA
Designation of director Managing Director Director
Director identification number of director 00118930 03451163
Date of signing of financial statements by director 04/11/2021 04/11/2021
46
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
[100400] Cash flow statement, indirect
Unless otherwise specified, all monetary values are in INR
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
31/03/2019
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before extraordinary items and tax 4,14,28,256 8,41,98,487
Adjustments for reconcile profit (loss) [Abstract]
Adjustments to profit (loss) [Abstract]
Adjustments for depreciation and amortisation expense 1,41,633 2,27,175
Other adjustments to reconcile profit (loss) (A) -3,61,04,512 (B) -5,97,60,057
Total adjustments to profit (loss) -3,59,62,879 -5,95,32,882
Adjustments for working capital [Abstract]
Adjustments for decrease (increase) in trade receivables 102,19,26,744 -102,34,86,429
Adjustments for decrease (increase) in other current assets 1,89,83,363 -1,06,98,690
Adjustments for increase (decrease) in trade payables -102,24,02,951 104,77,25,967
Adjustments for increase (decrease) in other current liabilities -25,80,50,533 -3,18,49,578
Adjustments for provisions (C) 1,780,77,60,846 (D) -3,071,03,91,169
Total adjustments for working capital 1,756,82,17,469 -3,072,86,99,899
Total adjustments for reconcile profit (loss) 1,753,22,54,590 -3,078,82,32,781
Net cash flows from (used in) operations 1,757,36,82,846 -3,070,40,34,294
Income taxes paid (refund) -3,71,36,160 12,07,41,190
Net cash flows from (used in) operating activities before extraordinary
items
1,761,08,19,006 -3,082,47,75,484
Net cash flows from (used in) operating activities 1,761,08,19,006 -3,082,47,75,484
Cash flows from used in investing activities [Abstract]
Purchase of tangible assets 0 52,500
Interest received 423,22,59,621 463,33,56,705
Other inflows (outflows) of cash (E) -10,16,27,429 (F) -530,52,83,681
Net cash flows from (used in) investing activities before extraordinary
items
413,06,32,192 -67,19,79,476
Net cash flows from (used in) investing activities 413,06,32,192 -67,19,79,476
Cash flows from used in financing activities [Abstract]
Interest paid 431,27,58,412 438,75,06,382
Other inflows (outflows) of cash (G) -1,737,37,40,302 (H) 3,584,15,41,961
Net cash flows from (used in) financing activities before extraordinary
items
-2,168,64,98,714 3,145,40,35,579
Net cash flows from (used in) financing activities -2,168,64,98,714 3,145,40,35,579
Net increase (decrease) in cash and cash equivalents before effect of
exchange rate changes
5,49,52,484 -4,27,19,381
Net increase (decrease) in cash and cash equivalents 5,49,52,484 -4,27,19,381
Cash and cash equivalents cash flow statement at end of period 5,70,79,595 21,27,111 4,48,46,493
Footnotes
(A) Short Term Gain on sale of Current Investment : -11979721 Other Adjustment : 0 Interest Income : -4352531354 Interest Paid :
4328406563 Liabilities No Longer Required : 0
(B) Short Term Gain on sale of Current Investment : -11863407 Other Adjustment : 599787 Interest Income : -4388732599 Interest
Paid : 4387278604 Liabilities No Longer Required : -47042442
(C) Short Term Loans & Advance : 17807760846
(D) Short Term Loans & Advance : -30710391169
(E) Other Adjustment : 0 Purchase of Current Investment : -4002574895 Purchase of Non Current Investments : -354588732 Income
from Mutual Fund : 11979721 Proceeds from Sale of Current Investment : 4243556477
(F) Other Adjustment : -599787 Purchase of Current Investment : -6616000000 Purchase of Non Current Investments : -5197600000
Income from Mutual Fund : 11863407 Proceeds from Sale of Current Investment : 6497052699
(G) Proceeds / (Repayment) of Short Term Borrowings : -16820579932 Proceeds / (Repayment) of Long Term Borrowings :
-254704705 (Increase) / Decrease in Long Term Loans & Advances : -298455665
(H) Proceeds / (Repayment) of Short Term Borrowings : 36098556376 Proceeds / (Repayment) of Long Term Borrowings :
-1148998 (Increase) / Decrease in Long Term Loans & Advances : -255865417
47
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
[200100] Notes - Share capital
Disclosure of shareholding more than five per cent in company [Table] ..(1)
Unless otherwise specified, all monetary values are in INR
Classes of share capital [Axis] Equity shares [Member]
Name of shareholder [Axis] Shareholder 1 [Member] Shareholder 2 [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Number of shares held in company [shares] 5,000 [shares] 5,000 [shares] 5,000 [shares] 5,000
Disclosure of shareholding more than five per cent in company [Table] ..(2)
Unless otherwise specified, all monetary values are in INR
Classes of share capital [Axis] Equity shares [Member]
Name of shareholder [Axis] Shareholder 3 [Member] Shareholder 4 [Member]
31/03/2021 31/03/2020 31/03/2021 31/03/2020
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Number of shares held in company [shares] 7,029 [shares] 7,029 [shares] 23,600 [shares] 23,600
Disclosure of shareholding more than five per cent in company [Table] ..(3)
Unless otherwise specified, all monetary values are in INR
Classes of share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Shareholder 1 [Member] Shareholder 2 [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Type of share EQUITY SHARES EQUITY SHARES EQUITY SHARES EQUITY SHARES
Name of shareholder
RAVJIBHAI
PATEL
RAVJIBHAI PATEL JAYESH PATEL JAYESH PATEL
PAN of shareholder AALPP3707C AALPP3707C AQDPP4456C AQDPP4456C
Country of incorporation or residence of
shareholder
INDIA INDIA INDIA INDIA
Number of shares held in company [shares] 5,000 [shares] 5,000 [shares] 5,000 [shares] 5,000
Percentage of shareholding in company 12.29% 12.29% 12.29% 12.29%
Disclosure of shareholding more than five per cent in company [Table] ..(4)
Unless otherwise specified, all monetary values are in INR
Classes of share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Shareholder 3 [Member] Shareholder 4 [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Type of share EQUITY SHARES EQUITY SHARES EQUITY SHARES EQUITY SHARES
Name of shareholder
R A J E S H
MANDAPWALA
R A J E S H
MANDAPWALA
ASHISH SHAH ASHISH SHAH
PAN of shareholder AAOPM6471D AAOPM6471D ABIPS7452H ABIPS7452H
Country of incorporation or residence of
shareholder
INDIA INDIA INDIA INDIA
Number of shares held in company [shares] 7,029 [shares] 7,029 [shares] 23,600 [shares] 23,600
Percentage of shareholding in company 17.27% 17.27% 57.99% 57.99%
48
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Disclosure of classes of share capital [Table] ..(1)
Unless otherwise specified, all monetary values are in INR
Classes of share capital [Axis] Share capital [Member] Equity shares [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
Number of shares authorised [shares] 1,78,10,000 [shares] 1,78,10,000 [shares] 94,70,000 [shares] 94,70,000
Value of shares authorised 17,81,00,000 17,81,00,000 9,47,00,000 9,47,00,000
Number of shares issued [shares] 40,700 [shares] 40,700 [shares] 40,700 [shares] 40,700
Value of shares issued 4,07,000 4,07,000 4,07,000 4,07,000
Number of shares subscribed and fully paid [shares] 40,700 [shares] 40,700 [shares] 40,700 [shares] 40,700
Value of shares subscribed and fully paid 4,07,000 4,07,000 4,07,000 4,07,000
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0 0
Total number of shares subscribed [shares] 40,700 [shares] 40,700 [shares] 40,700 [shares] 40,700
Total value of shares subscribed 4,07,000 4,07,000 4,07,000 4,07,000
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 40,700 [shares] 40,700 [shares] 40,700 [shares] 40,700
Value of shares called 4,07,000 4,07,000 4,07,000 4,07,000
Calls unpaid [Abstract]
Calls unpaid by directors and officers
[Abstract]
Calls unpaid by directors 0 0 0 0
Calls unpaid by officers 0 0 0 0
Total calls unpaid by directors and
officers
0 0 0 0
Calls unpaid by others 0 0 0 0
Total calls unpaid 0 0 0 0
Forfeited shares 0 0 0 0
Forfeited shares reissued 0 0 0 0
Value of shares paid-up 4,07,000 4,07,000 4,07,000 4,07,000
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued as rights [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued in private
placement arising out of conversion of
debentures preference shares during
period
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued in other private
placement
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued as preferential
allotment arising out of conversion of
debentures preference shares during
period
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued as other
preferential allotment
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares allotted for
contracts without payment received
in cash
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued under scheme of
amalgamation
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of other issues of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued under employee
stock option plan
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of other issue of shares
arising out of conversion of
securities
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Total aggregate number of shares issued
during period
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Decrease in number of shares during period
[Abstract]
Number of shares redeemed [shares] 0 [shares] 0
Number of shares bought back [shares] 0 [shares] 0 [shares] 0 [shares] 0
49
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Other decrease in number of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Total decrease in number of shares during
period
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Total increase (decrease) in number of
shares outstanding
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares outstanding at end of period [shares] 40,700 [shares] 40,700 [shares] 40,700 [shares] 40,700
Reconciliation of value of shares outstanding
[Abstract]
Changes in share capital [Abstract]
Increase in share capital during period
[Abstract]
Amount of public issue during period 0 0 0 0
Amount of bonus issue during period 0 0 0 0
Amount of rights issue during period 0 0 0 0
Amount of private placement issue
arising out of conversion of debentures
preference shares during period
0 0 0 0
Amount of other private placement issue
during period
0 0 0 0
Amount of preferential allotment issue
arising out of conversion of debentures
preference shares during period
0 0 0 0
Amount of other preferential allotment
issue during period
0 0 0 0
Amount of issue allotted for
contracts without payment
received in cash during period
0 0 0 0
Amount of issue under scheme of
amalgamation during period
0 0 0 0
Amount of other issues during period 0 0 0 0
Amount of employee stock option plan
issued during period
0 0 0 0
Amount of other issue arising out of
conversion of securities during
period
0 0 0 0
Total aggregate amount of increase in
share capital during period
0 0 0 0
Decrease in share capital during period
[Abstract]
Decrease in amount of shares redeemed 0 0
Decrease in amount of shares bought back 0 0 0 0
Other decrease in amount of shares 0 0 0 0
Total decrease in share capital during
period
0 0 0 0
Total increase (decrease) in share capital 0 0 0 0
Share capital at end of period 4,07,000 4,07,000 4,07,000 4,07,000
Rights preferences and restrictions attaching
to class of share capital
ii). In the event of
liquidation of the
company, the
holders of equity
shares will be
entitled to receive
remaining assets of
the company, after
distribution of all
preferential
amounts.
ii). In the event of
liquidation of the
company, the holders
of equity shares will
be entitled to receive
remaining assets of
the company, after
distribution of all
preferential amounts.
ii). In the event of
liquidation of the
company, the
holders of equity
shares will be
entitled to receive
remaining assets of
the company, after
distribution of all
preferential
amounts.
ii). In the event of
liquidation of the
company, the holders
of equity shares will
be entitled to receive
remaining assets of
the company, after
distribution of all
preferential amounts.
Shares in company held by holding company or
ultimate holding company or by its subsidiaries
or associates [Abstract]
Shares in company held by holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares in company held by ultimate holding
company
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares in company held by subsidiaries of its
holding company
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares in company held by subsidiaries of its
ultimate holding company
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares in company held by associates of its
holding company
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares in company held by associates of its
ultimate holding company
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Total shares in company held by holding company
or ultimate holding company or by its
subsidiaries or associates
[shares] 0 [shares] 0 [shares] 0 [shares] 0
50
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Shares reserved for issue under options
and contracts or commitments for sale of
shares or disinvestment
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Amount of shares reserved for issue under options
and contracts or commitments for sale of shares or
disinvestment
0 0 0 0
Aggregate number of fully paid-up shares issued
pursuant to contracts without payment being
received in cash during last five years
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Aggregate number of fully paid-up shares
issued by way of bonus shares during last
five years
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Aggregate number of shares bought back during
last five years
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Original paid-up value of forfeited shares 0 0 0 0
Terms of securities convertible into
equity/preference shares issued along with
earliest date of conversion in descending order
starting from farthest such date [TextBlock]
- - -
Textual information
(32) [See below]
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Application money received for
allotment of securities and due for
refund, principal
0 0 0 0
Application money received for
allotment of securities and due for
refund, interest accrued
0 0 0 0
Total application money received for
allotment of securities and due for refund
and interest accrued thereon
0 0 0 0
Number of shares proposed to be issued [shares] 0 [shares] 0 [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0 0 0
51
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Disclosure of classes of share capital [Table] ..(2)
Unless otherwise specified, all monetary values are in INR
Classes of share capital [Axis] Equity shares 1 [Member] Equity shares 2 [Member]
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
01/04/2020
to
31/03/2021
01/04/2019
to
31/03/2020
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
Type of share Equity Equity Equity Equity
Number of shares authorised [shares] 94,50,000 [shares] 94,50,000 [shares] 20,000
[shares]
20,000
Value of shares authorised 9,45,00,000 9,45,00,000 2,00,000 2,00,000
Number of shares issued [shares] 40,700 [shares] 40,700 [shares] 0 [shares] 0
Value of shares issued 4,07,000 4,07,000 0 0
Number of shares subscribed and fully paid [shares] 40,700 [shares] 40,700 [shares] 0 [shares] 0
Value of shares subscribed and fully paid 4,07,000 4,07,000 0 0
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0 0
Total number of shares subscribed [shares] 40,700 [shares] 40,700 [shares] 0 [shares] 0
Total value of shares subscribed 4,07,000 4,07,000 0 0
Value of shares paid-up [Abstract]
Number of shares paid-up [shares] 40,700 [shares] 40,700 [shares] 0 [shares] 0
Value of shares called 4,07,000 4,07,000 0 0
Calls unpaid [Abstract]
Calls unpaid by directors and officers
[Abstract]
Calls unpaid by directors 0 0 0 0
Calls unpaid by officers 0 0 0 0
Total calls unpaid by directors and
officers
0 0 0 0
Calls unpaid by others 0 0 0 0
Total calls unpaid 0 0 0 0
Forfeited shares 0 0 0 0
Forfeited shares reissued 0 0 0 0
Value of shares paid-up 4,07,000 4,07,000 0 0
Par value per share [INR/shares] 10 [INR/shares] 10 [INR/shares] 10
[INR/shares]
10
Amount per share called in case shares not fully
called
[INR/shares] 0 [INR/shares] 0 [INR/shares] 0
[INR/shares]
0
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued as rights [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued in private
placement arising out of conversion of
debentures preference shares during
period
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued in other private
placement
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued as preferential
allotment arising out of conversion of
debentures preference shares during
period
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued as other
preferential allotment
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares allotted for
contracts without payment received
in cash
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued under scheme of
amalgamation
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of other issues of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares issued under employee
stock option plan
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of other issue of shares
arising out of conversion of
securities
[shares] 0 [shares] 0 [shares] 0 [shares] 0
52
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Total aggregate number of shares issued
during period
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Decrease in number of shares during period
[Abstract]
Number of shares bought back [shares] 0 [shares] 0 [shares] 0 [shares] 0
Other decrease in number of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0
Total decrease in number of shares during
period
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Total increase (decrease) in number of
shares outstanding
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Number of shares outstanding at end of period [shares] 40,700 [shares] 40,700 [shares] 0 [shares] 0
Reconciliation of value of shares outstanding
[Abstract]
Changes in share capital [Abstract]
Increase in share capital during period
[Abstract]
Amount of public issue during period 0 0 0 0
Amount of bonus issue during period 0 0 0 0
Amount of rights issue during period 0 0 0 0
Amount of private placement issue
arising out of conversion of debentures
preference shares during period
0 0 0 0
Amount of other private placement issue
during period
0 0 0 0
Amount of preferential allotment issue
arising out of conversion of debentures
preference shares during period
0 0 0 0
Amount of other preferential allotment
issue during period
0 0 0 0
Amount of issue allotted for
contracts without payment
received in cash during period
0 0 0 0
Amount of issue under scheme of
amalgamation during period
0 0 0 0
Amount of other issues during period 0 0 0 0
Amount of employee stock option plan
issued during period
0 0 0 0
Amount of other issue arising out of
conversion of securities during
period
0 0 0 0
Total aggregate amount of increase in
share capital during period
0 0 0 0
Decrease in share capital during period
[Abstract]
Decrease in amount of shares bought back 0 0 0 0
Other decrease in amount of shares 0 0 0 0
Total decrease in share capital during
period
0 0 0 0
Total increase (decrease) in share capital 0 0 0 0
Share capital at end of period 4,07,000 4,07,000 0 0
Rights preferences and restrictions attaching
to class of share capital
ii). In the event of
liquidation of the
company, the
holders of equity
shares will be
entitled to receive
remaining assets of
the company, after
distribution of all
preferential
amounts.
ii). In the event of
liquidation of the
company, the holders
of equity shares will
be entitled to receive
remaining assets of
the company, after
distribution of all
preferential amounts.
Shares in company held by holding company or
ultimate holding company or by its subsidiaries
or associates [Abstract]
Shares in company held by holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares in company held by ultimate holding
company
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares in company held by subsidiaries of its
holding company
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares in company held by subsidiaries of its
ultimate holding company
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares in company held by associates of its
holding company
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares in company held by associates of its
ultimate holding company
[shares] 0 [shares] 0 [shares] 0 [shares] 0
53
MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021
Total shares in company held by holding company
or ultimate holding company or by its
subsidiaries or associates
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Shares reserved for issue under options
and contracts or commitments for sale of
shares or disinvestment
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Amount of shares reserved for issue under options
and contracts or commitments for sale of shares or
disinvestment
0 0 0 0
Aggregate number of fully paid-up shares issued
pursuant to contracts without payment being
received in cash during last five years
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Aggregate number of fully paid-up shares
issued by way of bonus shares during last
five years
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Aggregate number of shares bought back during
last five years
[shares] 0 [shares] 0 [shares] 0 [shares] 0
Original paid-up value of forfeited shares 0 0 0 0
Terms of securities convertible into
equity/preference shares issued along with
earliest date of conversion in descending order
starting from farthest such date [TextBlock]
Textual information
(33) [See below]
Textual information
(34) [See below]
20,000 (31st March 2020 :
20,000) Unclassified Shares of
Rs. 10/- each
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Application money received for
allotment of securities and due for
refund, principal
0 0 0 0
Application money received for
allotment of securities and due for
refund, interest accrued
0 0 0 0
Total application money received for
allotment of securities and due for refund
and interest accrued thereon
0 0 0 0
Number of shares proposed to be issued [shares] 0 [shares] 0 [shares] 0 [shares] 0
Share premium for shares to be allotted 0 0 0 0
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
Milestone Tradelinks 2021 Annual Report.pdf
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Milestone Tradelinks 2021 Annual Report.pdf

  • 1. MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 [400100] Disclosure of general information about company Unless otherwise specified, all monetary values are in INR 01/04/2020 to 31/03/2021 01/04/2019 to 31/03/2020 Name of company MILESTONE TRADELINKS PRIVATE LIMITED Corporate identity number U51909GJ2001PTC039872 Permanent account number of entity AACCM9423C Address of registered office of company 203, ANAND MILAN COMPLEX, , OPP. NAVRANGPURA JAIN DERASAR, NAVRANGPURA , AHMEDABAD , AHMEDABAD , GUJARAT , INDIA - 380009 Type of industry C o m m e r c i a l a n d Industrial Number of employees in the company at the end of the financial Year [pure] 1 Whether company has published sustainability report for the financial Year No Date of board meeting when final accounts were approved 04/11/2021 Date of start of reporting period 01/04/2020 01/04/2019 Date of end of reporting period 31/03/2021 31/03/2020 Nature of report standalone consolidated Standalone Content of report Financial Statements Description of presentation currency INR Level of rounding used in financial statements Actual 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) 203, ANAND MILAN C O M P L E X , O P P . N A V R A N G P U R A J A I N D E R A S A R , NAVRANGPURA AHMEDABAD Ahmedabad GJ 380009 IN Name of city of place of maintenance of computer servers (storing accounting data) Ahmedabad Name of state/ union territory of place of maintenance of computer servers (storing accounting data) Gujarat Pin code of place of maintenance of computer servers (storing accounting data) 380009 Name of district of place of maintenance of computer servers (storing accounting data) Ahmedabad ISO country code of place of maintenance of computer servers (storing accounting data) +91 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) 9824422870
  • 2. 2 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Disclosure of principal product or services [Table] ..(1) Unless otherwise specified, all monetary values are in INR Types of principal product or services [Axis] 1 01/04/2020 to 31/03/2021 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 7106 Description of product or service category SILVR(INCLD SLVR PLTD W T H GOLD/PLTNM)UNWRGHT/IN SEMI MNFCTRD FORM/IN PWDR FORM Turnover of product or service category 416,01,84,196 Highest turnover contributing product or service (ITC 8 digit) code 71061000 Description of product or service silver bars Turnover of highest contributing product or service 416,01,84,196 [400400] Disclosures - Directors report Details of directors signing board report [Table] ..(1) Unless otherwise specified, all monetary values are in INR Directors signing board report [Axis] 1 01/04/2020 to 31/03/2021 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 MANISH Middle name of director AMRUTLAL Last name of director SHAH Designation of director Managing Director Director identification number of director 00118930 Date of signing board report 04/11/2021
  • 3. 3 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Unless otherwise specified, all monetary values are in INR 01/04/2020 to 31/03/2021 Disclosure in board of directors report explanatory [TextBlock] Textual information (1) [See below] Description of state of companies affair As Provided Disclosure relating to amounts if any which is proposed to carry to any reserves T h e D i r e c t o r s decided not to transfer the profit to any reserve. Disclosures relating to amount recommended to be paid as dividend Textual information (2) [See below] Details regarding energy conservation Textual information (3) [See below] Details regarding technology absorption Textual information (4) [See below] Details regarding foreign exchange earnings and outgo D u r i n g t h e y e a r under review, Earning and Outgo in foreign currency is nil. Disclosures in director’s responsibility statement Textual information (5) [See below] Details of material changes and commitment occurred during period affecting financial position of company Textual information (6) [See below] Particulars of loans guarantee investment under section 186 [TextBlock] T h e particulars of loans, g u a r a n t e e s a n d investments have been d i s c l o s e d i n t h e f i n a n c i a l statements. Particulars of contracts/arrangements with related parties under section 188(1) [TextBlock] Textual information (7) [See below] Whether there are contracts/arrangements/transactions not at arm's length basis No Whether there are material contracts/arrangements/transactions at arm's length basis No Details of statement indicating manner in which formal annual evaluation made by board of its performance and of its committees and individual directors [TextBlock] Textual information (8) [See below] Date of board of directors' meeting in which board's report referred to under section 134 was approved 04/11/2021 Disclosure of extract of annual return as provided under section 92(3) [TextBlock] Textual information (9) [See below] Disclosure of statement on declaration given by independent directors under section 149(6) [TextBlock] Textual information (10) [See below] Disclosure for companies covered under section 178(1) on directors appointment and remuneration including other matters provided under section 178(3) [TextBlock] Textual information (11) [See below] Disclosure of statement on development and implementation of risk management policy [TextBlock] T h e Company does not have any Risk Management Policy as the element of risk t h r e a t e n i n g t h e Company’s existence is v e r y minimal. Details on policy development and implementation by company on corporate social responsibility initiatives taken during year [TextBlock] Textual information (12) [See below] Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock] Disclosure of financial summary or highlights [TextBlock] Textual information (13) [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] Textual information (14) [See below] Disclosure of companies which have become or ceased to be its subsidiaries, joint ventures or associate companies during year [TextBlock] NA
  • 4. 4 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Details relating to deposits covered under chapter v of companies act [TextBlock] NA 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] t h e d e t a i l s o f significant or material orders passed by the regulators/court/tribunal impacting going concern status and company’s operations in future; N.A. Details regarding adequacy of internal financial controls with reference to financial statements [TextBlock] Textual information (15) [See below] Disclosure of appointment and remuneration of managerial personnels [TextBlock] Textual information (16) [See below] Number of meetings of board [pure] 16
  • 5. 5 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Textual information (1) Disclosure in board of directors report explanatory [Text Block] DIRECTORS’ REPORT To, The Members, Your Directors have pleasure in presenting their 20thAnnual Report on the business and operations of the Company and the audited accounts for the Financial Year ended March 31, 2021. FINANCIAL HIGHLIGHTS Particulars 2020-21 Rupees 2019-20 Rupees Sales and Other Income 9410207118 11797931817 Net Profit/(Loss) before Depreciation, Finance Charge & Taxation 4369976452 4471793839 Finance Charge 4328406563 4387368177 Depreciation 141633 227175 Exceptional and Extraordinary items - - Profit /(Loss) for the year before taxation 41428256 84198487 Provision for taxation (including deferred tax provision) 4550470 153698 Profit /(Loss) for the year after taxation 36877786 84044789 Surplus/(Deficit) brought forward from previous year (1519209785) (1603254574) Profit /(Loss) carried to Balance Sheet (1482331999) (1519209785)
  • 6. 6 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 The Directors hope that coming years are very bright in respect of the business of the Company. 1. Extract u/s 92: As provided under Section 92(3) of the Act, the extract of annual return is attached in Annexure -1 in the prescribed Form MGT-9, which forms part of this report. 2 (A). Number of meeting of Board of Directors: PERIOD: 01/04/2020TO 31/03/2021 MONTH BOARD MEETINGS APRIL 13/04/2021 JUNE 03/06/2020 JULY 20/07/2020, 31/07/2020 SEPTEMBER 02/09/2020, 07/09/2020, 09/09/2020, 16/09/2020 OCTOBER 13/10/2020, 27/10/2020 NOVEMBER 09/11/2020 DECEMBER 01/12/2020, 08/12/2020, 31/12/2020 JANUARY 28/01/2021 FEBRUARY 02/02/2021 DIRECTORS’ ATTENDANCE
  • 7. 7 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 NAME OF DIRECTOR ATTENDANCE AT BOARD MEETING DURING 2020-21 BIJAL BHATT(Resigned on 31/07/2020) 3 RAJESH RAMESHCHANDRA VORA 16 MANISH AMRUTLAL SHAH(Appointed on 30/07/2020) 13 2 (B) . Number of CSR Committee Meeting by Committee Members: PERIOD: 01/04/2020 TO 31/03/2021 MONTH COMMITTEE MEETING SEPTEMBER 07/09/2020 JANUARY 28/01/2021 COMMITTEE MEMBERS’ ATTENDANCE NAME OF DIRECTOR ATTENDANCE AT COMMITTEE MEETING DURING 2020-21 MANISH AMRUTLAL SHAH 2 RAJESH RAMESHCHANDRA VORA 2 3. Directors’ Responsibility Statement: The Directors’ Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 shall state that- (a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;
  • 8. 8 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 (b) the directors had selected such accounting policies and applied them consistently and made judgments and estimate that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that year; (c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; (d) the directors had prepared the annual accounts on a going concern basis; (e) As the clause is applicable to the directors, in the case of a listed company, regarding internal financial controls to be followed by the company and that such internal financial controls are adequate and are operating effectively;, being a private limited company clause is not applicable though the Company has in place adequate internal financial controls with reference to financial statements. (f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively. 4. A statement on declaration given by independent directors under sub-section (6) of section 149: As per provisions of sub-section (4) of Section 149 of The Companies Act, 2013, only listed companies and prescribed public companies(according to rule 4,chapter XI, Companies (Appointment and qualification of Directors) Rules, 2014),shall be required to appoint Independent Directors. As the Company is Private Limited Company, not required to appoint Independent Directors, so there is no necessity of statement on declaration by independent directors. 5.Company’s policy relating to directors appointment, payment of remuneration and discharge of their duties: The provisions of Section 178(1) relating to constitution of Nomination and Remuneration Committee are not applicable to the Company and hence the Company has not devised any policy relating to appointment of Directors, payment of Managerial remuneration, Directors qualifications, positive attributes, independence of Directors and other related matters as provided under Section 178(3) of the Companies.
  • 9. 9 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 6. Statutory Auditors: M/s Adwani Peshavaria & Co., Chartered Accountants, (Firm Registration no. (137123W) Ahmedabad, were appointed as a Statutory Auditor of the Company to hold office from the conclusion of 19th Annual General Meeting of the company held in year 2020, till the conclusion of the 24th Annual General Meeting to be held in 2025, on a remuneration to be determined by the Board of Directors of the Company. They have confirmed that they are not disqualified from continuing as Auditors of the Company. 7. Auditor’s Report: The Board has duly reviewed the Statutory Auditor’s Report on the Accounts. The observations and comments, appearing in the Auditor’s report are self-explanatory and do not call for any further explanation / clarification by the board of directors under section 134(3) (f) of the Companies Act, 2013. 8. Particulars of Loan, Guarantees or Investments under section 186: The particulars of loans, guarantees and investments have been disclosed in the financial statements. 9. Particulars of Contracts or Arrangements with related parties under section 188: All the related party transactions were entered by the Company in ordinary course of business and were in arm's length basis if any. The Company presents all related party transactions before the Board specifying the nature, value, and terms and conditions of the transaction. Transactions with related parties are conducted in a transparent manner in the interest of the Company and Stakeholders as utmost priority. During the year under review Company had not entered into any transactions with related parties which could be considered material in terms of Section 188 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. 10. The state of the company’s affairs: The Directors are hopeful for better growth of the Company in Future. 11. Share Capital:
  • 10. 10 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 The paid up Equity Share Capital as at March 31, 2021 stood at Rs. 4,07,000/-. During the year under review, the Company has not issued shares with differential voting rights nor has granted any stock options or sweat equity. 12. The amounts, if any, which it proposes to carry to any reserves; The Directors decided not to transfer the profit to any reserve. 13. The amount, if any, which it recommends should be paid by way of dividend; With view to conserve the resources of the Company, considering the future prospects of the Company, your Directors sincerely desire to plough back the profit generated during the course of the business of the Company. Hence, Directors have not recommended any dividend on Equity Shares. 14. Secretarial Audit Report: Secretarial Audit is applicable to listed company and every public company having paid up share capital of Rs. 50 crore or more or having a turnover of Rs. 250 crore or more, w.e.f. 01/04/2020, (vide notification dated January 03, 2020), it is also applicable for every company having outstanding loans or borrowings from banks or public financial institutions of Rs. 100 crore or more. Our Company does not meet the criteria of this new clause, so Secretarial Audit Report is not applicable to our Company. 15. Material Changes and Commitments, if any; During the year under review, there is no material changes occurred between the end of the financial year of the company to which the financial statements relate and the date of the report . 16.The conservation of energy, technology absorption, foreign exchange earnings and outgo: As Company does not have any manufacturing Activities.A statement containing the information as per Section 134 (3) (m) of the Companies Act 2013read with rule 8 of The Companies (Accounts) rules, 2014 is not appended. During the year under review, Earning and Outgo in foreign currency is nil.
  • 11. 11 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 17. Risk Management: The Company does not have any Risk Management Policy as the element of risk threatening the Company’s existence is very minimal. 18. Corporate Social Responsibility: As per section 135 of the Companies Act, 2013, read with rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014, , a Corporate Social Responsibility(CSR) Committee of the Board of Directors of the company has constituted CSR committee comprising of the following: Mr. Manish Amrutlal Shah Mr. Rajesh RameshchandraVora During the year under review, the Company was not required to make any mandatory CSR as per section 135 of the Companies Act, 2013. 19. Internal Audit: During the year under review, It is observed from Annual Financial Statement for preceding financial year, that the company is eligible company & qualifying under section 138 of the Companies Act, 2013 to appoint the Internal Auditor for the year 2020-21. M/S Ravindra B. Mehta & Associates, Chartered Accountants, Firm Registration No.(118543W) appointed as an Internal Auditor of the company to cover the areas required to be audited as detailed in the exhibit placed before the Board. 20. Formal Annual Evaluation: Formal Annual Evaluation is applicable to listed company and other public company having paid up share capital of Rs.25 crore or more. So attachment of formal annual evaluation of performance of the Board and its individual directors are not required. 21. Subsidiary, Joint venture And Associate Company: Your Directors are pleased to inform you that during the year under review, the wholly owned subsidiaries of the your company Top Infrastructure Private Limited &VyomTradelink Private Limited have become merged under section 233 of the Companies Act, 2013, by the order dated 29/01/2020. Now the Company has no Subsidiary, Joint Venture and Associate Company, so FORM AOC-1 is not required for the Company. 22. Other Disclosure:
  • 12. 12 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 (i)the change in nature of business, if any; N.A (ii)the details of directors or key managerial personnel who were appointed or have resigned during the year; During the year under review, Mr. Bijal M Bhatt was appointed as an Additional Director of the Company, by the board w.e.f 03/06/2020. During the year under review, Mr. Bijal M Bhatt, Director of the Company tendered his resignation from the Board Of directors of the Company w.e.f. 31/07/2020, due to pre-occupation. The Board acknowledges his contribution to the Company. APPOINTMENT OF DIRECTOR During the year under review, Mr. Manish A Shah, was appointed as an Additional Director of the Company, by the board w.e.f 30/07/2020 and hold office up to the ensuing Annual General Meeting. The Board recommends appointment of Mr. Manish A Shah as director of the Company in previous Annual General Meeting. CESSATION OF DIRECTOR: The Board of Director expresses their deep condolences at the untimely and sad demise of Mr. Dipak Ambalal Shah, (Din:00331993) Director of the Company, on 18th May, 2020. The Board of Director place on record a deep appreciation for the valuable services rendered by Mr. DipakAmnbalal Shah during his tenure as a Director of the Company. The Board acknowledges his contribution to the Company. Change the designation of director: During the year under review and up to the date of report, the designation of Mr. Manish A Shah, Din: (00118930), has changed from
  • 13. 13 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 director to Managing Director w.e.f. 01/04/2021 with approval of Board of Directors. (iii) details of deposits as per chapter V of the Act; N.A. (iv) details in respect of adequacy of internal financial controls with reference to financial statements; N.A. (v) the details of significant or material orders passed by the regulators/court/tribunal impacting going concern status and company’s operations in future; N.A. (vi)the names of companies which have become or ceased to be its Subsidiaries, joint ventures or associate companies during the year; N.A. 23. Prevention of Sexual Harassment at Workplace: As per the requirement of The Sexual Harassment of Women at Workplace (Prevention, Prohibition &Redressal) Act, 2013 read with rules made thereunder, your Company has constituted Internal Complaints Committee which is responsible for redressal of complaint related to sexual harassment. During the year under review, there were no complaints pertaining to sexual harassment. 24. Maintenance of Cost Records: Maintenance of Cost Records as specified by the Central Government under sub-section (1) of Section 148 of the Companies Act, 2013, is not required by the Company and accordingly such accounts and records are not made and maintained. 25. Personnel: The particulars of employees as required by Rule 5 of Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016 are not given, as no employee is in receipt of remuneration Rs. 1,02,00,000 or more in a year or Rs. 8,50,000 or more per month. 26. Acknowledgement: An acknowledgement to all with whose help, cooperation and hard work the Company is able to achieve the results.
  • 14. 14 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Place: Ahmedabad For on behalf of the Board Date: 04/11/2021 _________________________ MANISH A SHAH Managing Director (DIN: 00118930) Textual information (2) Disclosures relating to amount recommended to be paid as dividend With view to conserve the resources of the Company, considering the future prospects of the Company, your Directors sincerely desire to plough back the profit generated during the course of the business of the Company. Hence, Directors have not recommended any dividend on Equity Shares. Textual information (3) Details regarding energy conservation As Company does not have any manufacturing Activities.A statement containing the information as per Section 134 (3) (m) of the Companies Act 2013read with rule 8 of The Companies (Accounts) rules, 2014 is not appended. Textual information (4) Details regarding technology absorption As Company does not have any manufacturing Activities.A statement containing the information as per Section 134 (3) (m) of the Companies Act 2013read with rule 8 of The Companies (Accounts) rules, 2014 is not appended.
  • 15. 15 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Textual information (5) Disclosures in director’s responsibility statement The Directors’ Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 shall state that- (a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; (b) the directors had selected such accounting policies and applied them consistently and made judgments and estimate that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that year; (c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; (d) the directors had prepared the annual accounts on a going concern basis; (e) As the clause is applicable to the directors, in the case of a listed company, regarding internal financial controls to be followed by the company and that such internal financial controls are adequate and are operating effectively;, being a private limited company clause is not applicable though the Company has in place adequate internal financial controls with reference to financial statements. (f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively. Textual information (6) Details of material changes and commitment occurred during period affecting financial position of company During the year under review, there is no material changes occurred between the end of the financial year of the company to which the financial statements relate and the date of the report . Textual information (7) Particulars of contracts/arrangements with related parties under section 188(1) [Text Block] All the related party transactions were entered by the Company in ordinary course of business and were in arm's length basis if any. The Company presents all related party transactions before the Board specifying the nature, value, and terms and conditions of the transaction. Transactions with related parties are conducted in a transparent manner in the interest of the Company and Stakeholders as utmost priority. During the year under review Company had not entered into any transactions with related parties which could be considered material in terms of Section 188 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. Textual information (8) Details of statement indicating manner in which formal annual evaluation made by board of its performance and of its committees and individual directors [Text Block] Formal Annual Evaluation is applicable to listed company and other public company having paid up share capital of Rs.25 crore or more. So attachment of formal annual evaluation of performance of the Board and its individual directors are not required.
  • 16. 16 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Textual information (9) Disclosure of extract of annual return as provided under section 92(3) [Text Block] FORM NO. MGT-9 EXTRACT OF ANNUAL RETURN As on the financial year ended on 31/03/2021 [Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014] I. REGISTRATION AND OTHER DETAILS: i) CIN : U51909GJ2001PTC039872 ii) Registration Date 9/8/2001 iii) Name of the Company MILESTONE TRADELINKS PRIVATE LIMITED iv) a) Category of the Company COMPANY LIMITED BY SHARES b) Sub-Category of the Company INDIAN NON-GOVERNMENT COMPANY v) Address of the Registered office and contact details 203, ANAND MILAN COMPLEX, OPP. NAVRANGPURA JAIN DERASAR, NAVRANGPURA,AHMEDABAD- 380009
  • 17. 17 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 vi) Whether listed company No vii) Name, Address and Contact details of Registrar and Transfer Agent, if any N/A II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY : All the business activities contributing 10 % or more of the total turnover of the company shall be stated:- Sr. No. Name and Description of main Products / Services NIC Code o Product/ Se 1 wholesale of Metals 4662 III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES - Sr. No. Name And Address of the Company CIN/GLN IV. SHARE HOLDING PATTERN (Equity
  • 18. 18 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Share Capital Breakup as percentage of Total Equity) A. Category-wise Share Holding Category of Shareholders No. of Shares held at the beginning of the year Demat Physical Total % of Total S A. Promoters (1) Indian a). Individual/HUF ----- 23600 23600 57.98% b).Central Govt ----- ----- ----- ----- c). State Govt (s) ----- ----- ----- ----- d).Bodies Corp. ----- ----- ----- ----- e).Banks / FI ----- ----- ----- ----- f). Any Other - ----- ----- ----- ----- Sub-total (A) (1):- ----- 23600 23600 57.98% (2) Foreign a) NRIs - Individuals NOT APPLICABLE
  • 19. 19 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 b) Other – Individuals c) Bodies Corp. d) Banks / FI e) Any Other…. Sub-total (A) (2):- ----- ----- ----- ----- Total shareholding of Promoter (A) = (A)(1)+(A)(2) ----- 23600 23600 57.98% B. Public Shareholding 1. Institutions a) Mutual Funds NOT APPLICABLE3 b) Banks / FI c) Central Govt d) State Govt(s) e) Venture Capital Funds f) Insurance Companies g) FIIs h) Foreign Venture Capital Funds i) Others (specify)
  • 20. 20 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Sub-total(B)(1):- ----- ----- ----- ----- 2. Non-Institutions a) Bodies Corp. i) Indian NOT APPLICABLE ii) Overseas b) Individuals i) Individual shareholders holding nominal share capital upto Rs. 1 lakh ----- 17100 17100 42.02% ii) Individual shareholders holding nominal share capital in excess of Rs 1 lakh ----- ----- ----- ----- c) Others (specify) Sub-total(B)(2):- ----- 17100 17100 42.02% Total Public Shareholding(B)= (B)(1)+(B)(2) ----- ----- ----- ----- C. Shares held by Custodian for GDRs & ADRs ----- ----- ----- ----- Grand Total (A+B+C) ----- 40700 40700 100%
  • 21. 21 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 B.Shareholding of Promoters Sr No. Shareholder’s Name Shareholding at the beginning of the year No. of Shares % of total Shares of the Company % of Shares / encumbere shares 1 ASHISH SHAH 23600 58% ----- Total 23600 58% ----- C. Change in Promoters’ Shareholding ( please specify, if there is no change) Sr. No. Shareholder’s Name Shareholding at the beginning of the year Change in Shareholdin (No. of Sha No. of Shares % of total Shares of the Company Increase NO CHANGE CUMULATIVE SHAREHOLDING D. Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):
  • 22. 22 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Sr. No. Shareholder’s Name Shareholding at the beginning of the year Change in Shareholdin (No. of Sha No. of Shares % of total Shares of the Company Increase 1 RAVJIBHAI PATEL 5000 12.29% ---- 2 JAYESH PATEL 5000 12.29% ---- 3 RAJESH MANDAPWALA 7029 17.27% ---- 4 YOGESH SHAH 68 0.17% 2 5 DIPAK SHAH 2 0.00% 6 HASAN H. MANSORI 1 0.00% ---- CUMULATIVE SHAREHOLDING 17100 42.02% 2 E.Shareholding of Directors and Key Managerial Personnel: Sr. No. For each of the Directors and KMP Shareholding at the beginning of the year Change in Shareholdin (No. of Sha No. of Shares % of total Shares of the Company Increase NOT APPLICABLE CUMULATIVE SHAREHOLDING
  • 23. 23 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 V. INDEBTEDNESS Indebtedness of the Company including interest outstanding/accrued but not due for payment Particulars Secured Loans excluding deposits Unsecured Loans Indebtedness at the beginning of the financial year i) Principal Amount ----- 47948939739 ii) Interest due but not paid ----- ----- iii) Interest accrued but not due ----- ----- Total (i+ii+iii) ----- 47948939739 Change in Indebtedness during the financial year · Addition ----- 227252375863 · Reduction ----- 244327660500 Net Change ----- -17075284637 Indebtedness at the end of the financial year i) Principal Amount ----- 30873655102 ii) Interest due but not paid ----- ----- iii) Interest accrued but not due ----- ----- Total (i+ii+iii) ----- 30873655102
  • 24. 24 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL A. Remuneration to Managing Director, Whole-time Directors and/or Manager: Sr. No. Particulars of Remuneration Name of MD/WTD/Manager 1 Gross salary (a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 ---- ---- (b) Value of perquisites u/s 17(2)Income-tax Act, 1961 ---- ---- (c) Profits in lieu of salary under section 17(3) 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 ---- ----
  • 25. 25 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 B. Remuneration to other directors: Sr. No. Particulars of Remuneration Name of Director TOTAL Mr. Rajesh Vora 1 Independent Directors · Fee for attending board / committee meetings ----- ----- · Commission ----- ----- · Others, please specify ----- ----- Total (1) 2 Other Executive Directors · Fee for attending board / committee meetings ----- ----- · Commission ----- ----- · Others-REMUNERATION 927432 927432 Total (2) 927432 927432 Total (B)=(1+2) 927432 927432 Total Managerial Remuneration Overall Ceiling as per the Act ----- ----- C. Remuneration to Key Managerial Personnel other than MD/WTD/Manager
  • 26. 26 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Sr. No. Particulars of Remuneration Key Managerial Personnel CEO Company S 1 Gross salary (a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 ----- ----- (b) Value of perquisites u/s 17(2) Income-tax Act, 1961 ----- ----- (c) Profits in lieu of salary under section 17(3) Income-tax Act, 1961 ----- ----- 2 Stock Option ----- ----- 3 Sweat Equity ----- ----- 4 Commission - as % of profit ----- ----- -others, specify… ----- ----- 5 Others, please specify ----- ----- Total ----- ----- VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: Type Section of the Companies Act Brief Description A. COMPANY
  • 27. 27 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Penalty ----- ----- Punishment ----- ----- Compounding ----- ----- B.DIRECTORS Penalty ----- ----- Punishment ----- ----- Compounding ----- ----- C.OTHER OFFICERS IN DEFAULT Penalty ----- ----- Punishment ----- ----- Compounding ----- ----- ____________________ MANISH A SHAH MANAGING DIRECTOR (DIN:00118930)
  • 28. 28 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Textual information (10) Disclosure of statement on declaration given by independent directors under section 149(6) [Text Block] As per provisions of sub-section (4) of Section 149 of The Companies Act, 2013, only listed companies and prescribed public companies(according to rule 4,chapter XI, Companies (Appointment and qualification of Directors) Rules, 2014),shall be required to appoint Independent Directors. As the Company is Private Limited Company, not required to appoint Independent Directors, so there is no necessity of statement on declaration by independent directors. Textual information (11) Disclosure for companies covered under section 178(1) on directors appointment and remuneration including other matters provided under section 178(3) [Text Block] The provisions of Section 178(1) relating to constitution of Nomination and Remuneration Committee are not applicable to the Company and hence the Company has not devised any policy relating to appointment of Directors, payment of Managerial remuneration, Directors qualifications, positive attributes, independence of Directors and other related matters as provided under Section 178(3) of the Companies Textual information (12) Details on policy development and implementation by company on corporate social responsibility initiatives taken during year [Text Block] As per section 135 of the Companies Act, 2013, read with rule 8(1) of the Companies (Corporate Social Responsibility Policy) Rules, 2014, , a Corporate Social Responsibility(CSR) Committee of the Board of Directors of the company has constituted CSR committee comprising of the following: Mr. Manish Amrutlal Shah Mr. Rajesh RameshchandraVora During the year under review, the Company was not required to make any mandatory CSR as per section 135 of the Companies Act, 2013.
  • 29. 29 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Textual information (13) Disclosure of financial summary or highlights [Text Block] FINANCIAL HIGHLIGHTS Particulars 2020-21 Rupees 2019-20 Rupees Sales and Other Income 9410207118 11797931817 Net Profit/(Loss) before Depreciation, Finance Charge & Taxation 4369976452 4471793839 Finance Charge 4328406563 4387368177 Depreciation 141633 227175 Exceptional and Extraordinary items - - Profit /(Loss) for the year before taxation 41428256 84198487 Provision for taxation (including deferred tax provision) 4550470 153698 Profit /(Loss) for the year after taxation 36877786 84044789 Surplus/(Deficit) brought forward from previous year (1519209785) (1603254574) Profit /(Loss) carried to Balance Sheet (1482331999) (1519209785) The Directors hope that coming years are very bright in respect of the business of the Company.
  • 30. 30 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Textual information (14) Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block] (ii)the details of directors or key managerial personnel who were appointed or have resigned during the year; During the year under review, Mr. Bijal M Bhatt was appointed as an Additional Director of the Company, by the board w.e.f 03/06/2020. During the year under review, Mr. Bijal M Bhatt, Director of the Company tendered his resignation from the Board Of directors of the Company w.e.f. 31/07/2020, due to pre-occupation. The Board acknowledges his contribution to the Company. APPOINTMENT OF DIRECTOR During the year under review, Mr. Manish A Shah, was appointed as an Additional Director of the Company, by the board w.e.f 30/07/2020 and hold office up to the ensuing Annual General Meeting. The Board recommends appointment of Mr. Manish A Shah as director of the Company in previous Annual General Meeting. CESSATION OF DIRECTOR: The Board of Director expresses their deep condolences at the untimely and sad demise of Mr. Dipak Ambalal Shah, (Din:00331993) Director of the Company, on 18th May, 2020. The Board of Director place on record a deep appreciation for the valuable services rendered by Mr. DipakAmnbalal Shah during his tenure as a Director of the Company. The Board acknowledges his contribution to the Company. Change the designation of director: During the year under review and up to the date of report, the designation of Mr. Manish A Shah, Din: (00118930), has changed from director to Managing Director w.e.f. 01/04/2021 with approval of Board of Directors. (iii) details of deposits as per chapter V of the Act; N.A. (iv) details in respect of adequacy of internal financial controls with reference to financial statements; N.A. (v) the details of significant or material orders passed by the regulators/court/tribunal impacting going concern status and company’s operations in future; N.A. (vi)the names of companies which have become or ceased to be its Subsidiaries, joint ventures or associate companies during the year; N.A. Textual information (15) Details regarding adequacy of internal financial controls with reference to financial statements [Text Block] As the clause is applicable to the directors, in the case of a listed company, regarding internal financial controls to be followed by the company and that such internal financial controls are adequate and are operating effectively;, being a private limited company clause is not applicable though the Company has in place adequate internal financial controls with reference to financial statements.
  • 31. 31 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Textual information (16) Disclosure of appointment and remuneration of managerial personnels [Text Block] APPOINTMENT OF DIRECTOR During the year under review, Mr. Manish A Shah, was appointed as an Additional Director of the Company, by the board w.e.f 30/07/2020 and hold office up to the ensuing Annual General Meeting. The Board recommends appointment of Mr. Manish A Shah as director of the Company in previous Annual General Meeting. CESSATION OF DIRECTOR: The Board of Director expresses their deep condolences at the untimely and sad demise of Mr. Dipak Ambalal Shah, (Din:00331993) Director of the Company, on 18th May, 2020. The Board of Director place on record a deep appreciation for the valuable services rendered by Mr. DipakAmnbalal Shah during his tenure as a Director of the Company. The Board acknowledges his contribution to the Company.
  • 32. 32 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 [400200] Disclosures - Auditors report 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 INR Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis] Auditor's favourable remark [Member] Clause not applicable [Member] 01/04/2020 to 31/03/2021 01/04/2020 to 31/03/2021 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 (17) [See below] Disclosure in auditors report relating to inventories Textual information (18) [See below] Disclosure in auditors report relating to loans Textual information (19) [See below] Disclosure in auditors report relating to compliance with Section 185 and 186 of Companies Act, 2013 Textual information (20) [See below] Disclosure in auditors report relating to deposits accepted Textual information (21) [See below] Disclosure in auditors report relating to maintenance of cost records The maintenance of Cost Records has not been specified by the Central Government under sub-section (1) of Section 148 of the Act, in respect of the activities carried on by the company. Disclosure in auditors report relating to statutory dues [TextBlock] Textual information (22) [See below] Disclosure in auditors report relating to default in repayment of financial dues Textual information (23) [See below] Disclosure in auditors report relating to public offer and term loans used for purpose for which those were raised Textual information (24) [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 (25) [See below] Disclosure in auditors report relating to managerial remuneration Textual information (26) [See below] Disclosure in auditors report relating to Nidhi Company In our opinion, the Company is not a Nidhi Company and the Nidhi Rules, 2014 are not applicable to it. Accordingly, the provisions of Clauses 3 (xii) of the Order are not applicable. Disclosure in auditors report relating to transactions with related parties Textual information (27) [See below] Disclosure in auditors report relating to preferential allotment or private placement of shares or convertible debentures Textual information (28) [See below] Disclosure in auditors report relating to non-cash transactions with directors or persons connected with him Textual information (29) [See below] Disclosure in auditors report relating to registration under section 45-IA of Reserve Bank of India Act, 1934 Textual information (30) [See below]
  • 33. 33 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Details regarding auditors [Table] ..(1) Unless otherwise specified, all monetary values are in INR Auditors [Axis] 1 01/04/2020 to 31/03/2021 Details regarding auditors [Abstract] Details regarding auditors [LineItems] Category of auditor Auditors firm Name of audit firm A D W A N I PESHAVARIA AND CO Name of auditor signing report PESHAVARIA D H A V A L VINODBHAI Firms registration number of audit firm 137123W Membership number of auditor 147712 Address of auditors A-428, SUMEL Permanent account number of auditor or auditor's firm AAYFA5090N SRN of form ADT-1 S40827917 Date of signing audit report by auditors 04/11/2021 Date of signing of balance sheet by auditors 04/11/2021 Unless otherwise specified, all monetary values are in INR 01/04/2020 to 31/03/2021 Disclosure in auditor’s report explanatory [TextBlock] Textual information (31) [See below] Whether companies auditors report order is applicable on company Yes Whether auditors' report has been qualified or has any reservations or contains adverse remarks No Textual information (17) Disclosure in auditors report relating to fixed assets (i) (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) According to the information and explanations given to us, the Company has a program of physically verifying its fixed assets in a phased manner designed to cover all assets, which in our opinion is reasonable having regards to the size of the company and the nature of its business. Accordingly, during the year the management had carried out physical verification for assets and no material discrepancies were noticed on such verification. (c) The Company does not have any immovable property in its name, accordingly the provisions of paragraph 1 (c) of the Order are not applicable. Textual information (18) Disclosure in auditors report relating to inventories The company carries out its business activities through back to back sales and purchase with their parties in such circumstances it does not hold any physical inventory. Accordingly the provisions of paragraph 3 (ii) of the Order are not applicable. Textual information (19) 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 granted loans, secured or unsecured to companies, firms, Limited Liability Partnerships or other parties covered in the register maintained under section 189 of the Companies Act, 2013. Accordingly, the provisions of paragraph 3 (iii) (a) to (c) of the Order are not applicable. Textual information (20) Disclosure in auditors report relating to compliance with Section 185 and 186 of Companies Act, 2013 According to the information and explanations given to us and representations made by the Management, the Company has not granted any loans or provided any guarantees or securities to the parties covered under Section 185 of the Act. The Company has complied with the provisions of Section 186 of the Act in respect of grant of loans.
  • 34. 34 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Textual information (21) Disclosure in auditors report relating to deposits accepted The Company has not accepted any deposits from the public and hence the directives issued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with regards to the deposits accepted from the public are not applicable. Textual information (22) 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. As explained to us, the Company did not have any dues on account of employees’ state insurance, sales tax, service tax, duty of customs, value added tax, cess, provident fund and duty of excise. (b) According to the information and explanations given to us, no undisputed amounts payable in respect of statutory dues as referred above were in arrears as at 31st March 2021 for a year of more than six months from the date they became payable. (c) According to the records of the Company and representations made by the Management, there are no statutory dues as mentioned in paragraph 3(vii)(a) which have not been deposited on account of any dispute. Textual information (23) Disclosure in auditors report relating to default in repayment of financial dues The Company has not taken any loan either from banks, financial institutions or from the government and has not issued any debentures. Accordingly, the provisions of paragraph 3(viii) of the Order are not applicable. Textual information (24) Disclosure in auditors report relating to public offer and term loans used for purpose for which those were raised Based upon the audit procedures performed and the information and explanations given by the management, the company has not raised moneys by way of initial public offer or further public offer including debt instruments and Term Loans. Textual information (25) Disclosure in auditors report relating to fraud by the company or on the company by its officers or its employees reported during period 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 fraud on or by the company, noticed or reported during the year, nor have we been informed of any such case by the management.
  • 35. 35 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Textual information (26) 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, though managerial remuneration has been paid/ provided, the Company being a private limited company, provisions of Section 197 read with Schedule V of the Companies Act, 2013 is not applicable to the Company. Textual information (27) 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 are in compliance with section 177 and 188 of Companies Act 2013 and all the details have been disclosed in financial statements as required by the applicable Accounting Standards. Textual information (28) 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 on the basis of our examination of the records, the Company has not made any preferential allotment or private placement or not issued any debenture during the year under review. Accordingly, the provisions of paragraph 3(xiv) of the Order are not applicable. Textual information (29) 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 on the basis of our examination of the records, Company has not entered into any non-cash transactions with any director or any person connected with him. Accordingly, the provisions of Clauses 3(xv) of the Order are not applicable to the Company. Textual information (30) Disclosure in auditors report relating to registration under section 45-IA of Reserve Bank of India Act, 1934 Based on our examination of the financial statements of the company and as per the information and explanations given to us, company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, the provisions of Clauses 3(xvi) of the Order are not applicable to the Company.
  • 36. 36 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Textual information (31) Disclosure in auditor’s report explanatory [Text Block] INDEPENDENT AUDITORS REPORT To the Members of Milestone Tradelinks Private Limited Report on the Financial Statements Opinion We have audited the accompanying Financial Statements of Milestone Tradelinks Private Limited (the Company), which comprise the Balance Sheet as at 31st March 2021, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended and notes to the financial statements, including a summary of significant accounting policies and other explanatory information (herein after referred to as Financial Statements) In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Financial Statements give the information required by the Companies Act, 2013 (the Act) in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March 2021, its Profits and Cash Flows for the year ended on that date. Basis for Opinion We conducted our audit of the Financial Statements in accordance with the Standards on Auditing specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditors Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the independence requirements that are relevant to our audit of the Financial Statements under the provisions of the Companies Act, 2013 and the Rules made there under and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAIs Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on these Financial Statements. Managements Responsibility for the Financial Statements The Companys Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 (the Act) with respect to the preparation and presentation of these Financial Statements that give a true and fair view of the financial position and financial
  • 37. 37 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 performance of the Company in accordance with the accounting principles generally accepted in India, including the applicable Accounting Standards prescribed under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. In preparing the Financial Statements, management is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Those Board of Directors are also responsible for overseeing the Companys financial reporting process. Auditors Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. Conclude on the appropriateness of managements use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companys ability to continue as a
  • 38. 38 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related
  • 39. 39 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors report. However, future events or conditions may cause the Company to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. Report on Other Legal and Regulatory Requirements 1. As required by the Companies (Auditors Report) Order, 2016 (the Order) issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in Annexure A statement on the matters specified in the paragraph 3 and 4 of the Order, to the extent applicable. 2. As required by Section 143(3) of the Act, we report that: (a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit. (b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books (c) The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this Report are in agreement with the books of account. (d) In our opinion, the aforesaid Financial Statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. (e) On the basis of the written representations received from the directors as on 31st March, 2021 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2021 from being appointed as a director in terms of Section 164(2) of the Act. (f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in Annexure B.; (g) With respect to the other matters to be included in the Auditors Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:
  • 40. 40 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 i. The Financial Statements disclose the impact of pending litigations on the financial position of the Company Refer Note 32 to the Financial Statements; ii. The company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses; iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the company; With respect to the matters to be included in the Auditors Report in accordance with the requirements of section 197 (16) of the Act, as amended: According to the information and explanations given to us and on the basis of our examination of the records of the company, though managerial remuneration has been paid/ provided, the Company being a private limited company, provisions of Section 197 read with Schedule V of the Companies Act, 2013 is not applicable to the Company. For, Adwani Peshavaria & Co. Chartered Accountants (Firm Reg. No. 137123W) Place: Ahmedabad Date : 4th November, 2021 Dhaval V Peshavaria Partner Membership No. 147712 UDIN: 21147712AAAAGJ4595 Referred to in paragraph 2 (f) under Report on Other Legal and Regulatory Requirements section of our Report of even date) Report on the Internal Financial Controls under Clause (i) of sub-section 3 of section 143 of the Companies Act 2013 (the act).
  • 41. 41 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Opinion We have audited the internal financial controls over financial reporting of Milestone Tradelinks Private Limited (the company) as of 31st March, 2021 in conjunction with our audit of the financial statements of the company for the year ended on that date. In our opinion, the company is not having any defined SOP to manage its operations. Accordingly, there are some limitations in the control aspects of financial reporting. In our opinion, except for the possible effects of the this material weakness, the company has maintained in all material respects, an adequate internal financial controls over financial reporting and such internal financial controls over financial reporting were operating effectively as of 31st March 2021 based on the internal financial controls over financial reporting criteria established by the company considering the essential components of internal financial controls stated in the Guidance Note on audit of internal financial controls over financial reporting issued by the Institute of Chartered Accountants of India. Managements Responsibilities for Internal Financial Controls The Companys management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013. Auditors Responsibility Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the Guidance Note) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.
  • 42. 42 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Annexure - B to The Independent Auditors Report (Continued) RE: Milestone Tradelinks Private Limited Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companys internal financial controls system over financial reporting. Meaning of Internal Financial Controls over Financial Reporting A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements. Inherent Limitations of Internal Financial Controls over Financial Reporting Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. For, Adwani Peshavaria & Co. Chartered Accountants (Firm Reg. No. 137123W)
  • 43. 43 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Place: Ahmedabad Date : 4th November, 2021 Dhaval V Peshavaria Partner Membership No. 147712 UDIN: 21147712AAAAGJ4595 [400500] Disclosures - Secretarial audit report Unless otherwise specified, all monetary values are in INR 01/04/2020 to 31/03/2021 Disclosure in secretarial audit report explanatory [TextBlock] Whether secretarial audit report is applicable on company No
  • 44. 44 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 [100100] Balance sheet Unless otherwise specified, all monetary values are in INR 31/03/2021 31/03/2020 Balance sheet [Abstract] Equity and liabilities [Abstract] Shareholders' funds [Abstract] Share capital 4,07,000 4,07,000 Reserves and surplus (A) 45,43,62,688 (B) 41,74,84,902 Total shareholders' funds 45,47,69,688 41,78,91,902 Share application money pending allotment 0 0 Non-current liabilities [Abstract] Long-term borrowings 29,46,21,392 54,93,26,097 Other long-term liabilities 0 0 Long-term provisions 0 0 Total non-current liabilities 29,46,21,392 54,93,26,097 Current liabilities [Abstract] Short-term borrowings 3,057,90,33,710 4,739,96,13,642 Trade payables 6,69,53,686 108,93,56,763 Other current liabilities 4,34,24,760 28,58,27,142 Short-term provisions 0 0 Total current liabilities 3,068,94,12,156 4,877,47,97,547 Total equity and liabilities 3,143,88,03,236 4,974,20,15,546 Assets [Abstract] Non-current assets [Abstract] Fixed assets [Abstract] Tangible assets 6,49,277 7,90,910 Intangible assets 67,18,26,628 67,18,26,628 Total fixed assets 67,24,75,905 67,26,17,538 Non-current investments 560,53,85,161 525,07,96,429 Deferred tax assets (net) 4,23,267 4,81,990 Long-term loans and advances 211,95,68,061 186,27,40,303 Total non-current assets 839,78,52,394 778,66,36,260 Current assets [Abstract] Current investments 2,15,42,253 26,25,23,960 Inventories 0 0 Trade receivables 18,11,84,309 120,31,11,053 Cash and bank balances 5,70,79,595 21,27,111 Short-term loans and advances 2,199,08,06,541 3,979,85,67,387 Other current assets 79,03,38,144 68,90,49,775 Total current assets 2,304,09,50,842 4,195,53,79,286 Total assets 3,143,88,03,236 4,974,20,15,546 Footnotes (A) (b) Reserves and Surplus : 124362688 (c) Instrument Entirely in Equity Nature : 330000000 (B) (b) Reserves and Surplus : 87484902 (c) Instrument Entirely in Equity Nature : 330000000
  • 45. 45 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 [400300] Disclosures - Signatories of financial statements Details of directors signing financial statements [Table] ..(1) Unless otherwise specified, all monetary values are in INR Directors signing financial statements [Axis] 1 2 01/04/2020 to 31/03/2021 01/04/2020 to 31/03/2021 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 MANISH RAJESH Middle name of director AMRUTLAL RAMESHCHANDRA Last name of director SHAH VORA Designation of director Managing Director Director Director identification number of director 00118930 03451163 Date of signing of financial statements by director 04/11/2021 04/11/2021
  • 46. 46 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 [100400] Cash flow statement, indirect Unless otherwise specified, all monetary values are in INR 01/04/2020 to 31/03/2021 01/04/2019 to 31/03/2020 31/03/2019 Statement of cash flows [Abstract] Whether cash flow statement is applicable on company Yes Yes Cash flows from used in operating activities [Abstract] Profit before extraordinary items and tax 4,14,28,256 8,41,98,487 Adjustments for reconcile profit (loss) [Abstract] Adjustments to profit (loss) [Abstract] Adjustments for depreciation and amortisation expense 1,41,633 2,27,175 Other adjustments to reconcile profit (loss) (A) -3,61,04,512 (B) -5,97,60,057 Total adjustments to profit (loss) -3,59,62,879 -5,95,32,882 Adjustments for working capital [Abstract] Adjustments for decrease (increase) in trade receivables 102,19,26,744 -102,34,86,429 Adjustments for decrease (increase) in other current assets 1,89,83,363 -1,06,98,690 Adjustments for increase (decrease) in trade payables -102,24,02,951 104,77,25,967 Adjustments for increase (decrease) in other current liabilities -25,80,50,533 -3,18,49,578 Adjustments for provisions (C) 1,780,77,60,846 (D) -3,071,03,91,169 Total adjustments for working capital 1,756,82,17,469 -3,072,86,99,899 Total adjustments for reconcile profit (loss) 1,753,22,54,590 -3,078,82,32,781 Net cash flows from (used in) operations 1,757,36,82,846 -3,070,40,34,294 Income taxes paid (refund) -3,71,36,160 12,07,41,190 Net cash flows from (used in) operating activities before extraordinary items 1,761,08,19,006 -3,082,47,75,484 Net cash flows from (used in) operating activities 1,761,08,19,006 -3,082,47,75,484 Cash flows from used in investing activities [Abstract] Purchase of tangible assets 0 52,500 Interest received 423,22,59,621 463,33,56,705 Other inflows (outflows) of cash (E) -10,16,27,429 (F) -530,52,83,681 Net cash flows from (used in) investing activities before extraordinary items 413,06,32,192 -67,19,79,476 Net cash flows from (used in) investing activities 413,06,32,192 -67,19,79,476 Cash flows from used in financing activities [Abstract] Interest paid 431,27,58,412 438,75,06,382 Other inflows (outflows) of cash (G) -1,737,37,40,302 (H) 3,584,15,41,961 Net cash flows from (used in) financing activities before extraordinary items -2,168,64,98,714 3,145,40,35,579 Net cash flows from (used in) financing activities -2,168,64,98,714 3,145,40,35,579 Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 5,49,52,484 -4,27,19,381 Net increase (decrease) in cash and cash equivalents 5,49,52,484 -4,27,19,381 Cash and cash equivalents cash flow statement at end of period 5,70,79,595 21,27,111 4,48,46,493 Footnotes (A) Short Term Gain on sale of Current Investment : -11979721 Other Adjustment : 0 Interest Income : -4352531354 Interest Paid : 4328406563 Liabilities No Longer Required : 0 (B) Short Term Gain on sale of Current Investment : -11863407 Other Adjustment : 599787 Interest Income : -4388732599 Interest Paid : 4387278604 Liabilities No Longer Required : -47042442 (C) Short Term Loans & Advance : 17807760846 (D) Short Term Loans & Advance : -30710391169 (E) Other Adjustment : 0 Purchase of Current Investment : -4002574895 Purchase of Non Current Investments : -354588732 Income from Mutual Fund : 11979721 Proceeds from Sale of Current Investment : 4243556477 (F) Other Adjustment : -599787 Purchase of Current Investment : -6616000000 Purchase of Non Current Investments : -5197600000 Income from Mutual Fund : 11863407 Proceeds from Sale of Current Investment : 6497052699 (G) Proceeds / (Repayment) of Short Term Borrowings : -16820579932 Proceeds / (Repayment) of Long Term Borrowings : -254704705 (Increase) / Decrease in Long Term Loans & Advances : -298455665 (H) Proceeds / (Repayment) of Short Term Borrowings : 36098556376 Proceeds / (Repayment) of Long Term Borrowings : -1148998 (Increase) / Decrease in Long Term Loans & Advances : -255865417
  • 47. 47 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 [200100] Notes - Share capital Disclosure of shareholding more than five per cent in company [Table] ..(1) Unless otherwise specified, all monetary values are in INR Classes of share capital [Axis] Equity shares [Member] Name of shareholder [Axis] Shareholder 1 [Member] Shareholder 2 [Member] 31/03/2021 31/03/2020 31/03/2021 31/03/2020 Disclosure of shareholding more than five per cent in company [Abstract] Disclosure of shareholding more than five per cent in company [LineItems] Number of shares held in company [shares] 5,000 [shares] 5,000 [shares] 5,000 [shares] 5,000 Disclosure of shareholding more than five per cent in company [Table] ..(2) Unless otherwise specified, all monetary values are in INR Classes of share capital [Axis] Equity shares [Member] Name of shareholder [Axis] Shareholder 3 [Member] Shareholder 4 [Member] 31/03/2021 31/03/2020 31/03/2021 31/03/2020 Disclosure of shareholding more than five per cent in company [Abstract] Disclosure of shareholding more than five per cent in company [LineItems] Number of shares held in company [shares] 7,029 [shares] 7,029 [shares] 23,600 [shares] 23,600 Disclosure of shareholding more than five per cent in company [Table] ..(3) Unless otherwise specified, all monetary values are in INR Classes of share capital [Axis] Equity shares 1 [Member] Name of shareholder [Axis] Shareholder 1 [Member] Shareholder 2 [Member] 01/04/2020 to 31/03/2021 01/04/2019 to 31/03/2020 01/04/2020 to 31/03/2021 01/04/2019 to 31/03/2020 Disclosure of shareholding more than five per cent in company [Abstract] Disclosure of shareholding more than five per cent in company [LineItems] Type of share EQUITY SHARES EQUITY SHARES EQUITY SHARES EQUITY SHARES Name of shareholder RAVJIBHAI PATEL RAVJIBHAI PATEL JAYESH PATEL JAYESH PATEL PAN of shareholder AALPP3707C AALPP3707C AQDPP4456C AQDPP4456C Country of incorporation or residence of shareholder INDIA INDIA INDIA INDIA Number of shares held in company [shares] 5,000 [shares] 5,000 [shares] 5,000 [shares] 5,000 Percentage of shareholding in company 12.29% 12.29% 12.29% 12.29% Disclosure of shareholding more than five per cent in company [Table] ..(4) Unless otherwise specified, all monetary values are in INR Classes of share capital [Axis] Equity shares 1 [Member] Name of shareholder [Axis] Shareholder 3 [Member] Shareholder 4 [Member] 01/04/2020 to 31/03/2021 01/04/2019 to 31/03/2020 01/04/2020 to 31/03/2021 01/04/2019 to 31/03/2020 Disclosure of shareholding more than five per cent in company [Abstract] Disclosure of shareholding more than five per cent in company [LineItems] Type of share EQUITY SHARES EQUITY SHARES EQUITY SHARES EQUITY SHARES Name of shareholder R A J E S H MANDAPWALA R A J E S H MANDAPWALA ASHISH SHAH ASHISH SHAH PAN of shareholder AAOPM6471D AAOPM6471D ABIPS7452H ABIPS7452H Country of incorporation or residence of shareholder INDIA INDIA INDIA INDIA Number of shares held in company [shares] 7,029 [shares] 7,029 [shares] 23,600 [shares] 23,600 Percentage of shareholding in company 17.27% 17.27% 57.99% 57.99%
  • 48. 48 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Disclosure of classes of share capital [Table] ..(1) Unless otherwise specified, all monetary values are in INR Classes of share capital [Axis] Share capital [Member] Equity shares [Member] 01/04/2020 to 31/03/2021 01/04/2019 to 31/03/2020 01/04/2020 to 31/03/2021 01/04/2019 to 31/03/2020 Disclosure of classes of share capital [Abstract] Disclosure of classes of share capital [LineItems] Number of shares authorised [shares] 1,78,10,000 [shares] 1,78,10,000 [shares] 94,70,000 [shares] 94,70,000 Value of shares authorised 17,81,00,000 17,81,00,000 9,47,00,000 9,47,00,000 Number of shares issued [shares] 40,700 [shares] 40,700 [shares] 40,700 [shares] 40,700 Value of shares issued 4,07,000 4,07,000 4,07,000 4,07,000 Number of shares subscribed and fully paid [shares] 40,700 [shares] 40,700 [shares] 40,700 [shares] 40,700 Value of shares subscribed and fully paid 4,07,000 4,07,000 4,07,000 4,07,000 Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0 [shares] 0 Value of shares subscribed but not fully paid 0 0 0 0 Total number of shares subscribed [shares] 40,700 [shares] 40,700 [shares] 40,700 [shares] 40,700 Total value of shares subscribed 4,07,000 4,07,000 4,07,000 4,07,000 Value of shares paid-up [Abstract] Number of shares paid-up [shares] 40,700 [shares] 40,700 [shares] 40,700 [shares] 40,700 Value of shares called 4,07,000 4,07,000 4,07,000 4,07,000 Calls unpaid [Abstract] Calls unpaid by directors and officers [Abstract] Calls unpaid by directors 0 0 0 0 Calls unpaid by officers 0 0 0 0 Total calls unpaid by directors and officers 0 0 0 0 Calls unpaid by others 0 0 0 0 Total calls unpaid 0 0 0 0 Forfeited shares 0 0 0 0 Forfeited shares reissued 0 0 0 0 Value of shares paid-up 4,07,000 4,07,000 4,07,000 4,07,000 Reconciliation of number of shares outstanding [Abstract] Changes in number of shares outstanding [Abstract] Increase in number of shares outstanding [Abstract] Number of shares issued in public offering [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued as bonus shares [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued as rights [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued in private placement arising out of conversion of debentures preference shares during period [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued in other private placement [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued as preferential allotment arising out of conversion of debentures preference shares during period [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued as other preferential allotment [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares allotted for contracts without payment received in cash [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued under scheme of amalgamation [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of other issues of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued under employee stock option plan [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of other issue of shares arising out of conversion of securities [shares] 0 [shares] 0 [shares] 0 [shares] 0 Total aggregate number of shares issued during period [shares] 0 [shares] 0 [shares] 0 [shares] 0 Decrease in number of shares during period [Abstract] Number of shares redeemed [shares] 0 [shares] 0 Number of shares bought back [shares] 0 [shares] 0 [shares] 0 [shares] 0
  • 49. 49 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Other decrease in number of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0 Total decrease in number of shares during period [shares] 0 [shares] 0 [shares] 0 [shares] 0 Total increase (decrease) in number of shares outstanding [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares outstanding at end of period [shares] 40,700 [shares] 40,700 [shares] 40,700 [shares] 40,700 Reconciliation of value of shares outstanding [Abstract] Changes in share capital [Abstract] Increase in share capital during period [Abstract] Amount of public issue during period 0 0 0 0 Amount of bonus issue during period 0 0 0 0 Amount of rights issue during period 0 0 0 0 Amount of private placement issue arising out of conversion of debentures preference shares during period 0 0 0 0 Amount of other private placement issue during period 0 0 0 0 Amount of preferential allotment issue arising out of conversion of debentures preference shares during period 0 0 0 0 Amount of other preferential allotment issue during period 0 0 0 0 Amount of issue allotted for contracts without payment received in cash during period 0 0 0 0 Amount of issue under scheme of amalgamation during period 0 0 0 0 Amount of other issues during period 0 0 0 0 Amount of employee stock option plan issued during period 0 0 0 0 Amount of other issue arising out of conversion of securities during period 0 0 0 0 Total aggregate amount of increase in share capital during period 0 0 0 0 Decrease in share capital during period [Abstract] Decrease in amount of shares redeemed 0 0 Decrease in amount of shares bought back 0 0 0 0 Other decrease in amount of shares 0 0 0 0 Total decrease in share capital during period 0 0 0 0 Total increase (decrease) in share capital 0 0 0 0 Share capital at end of period 4,07,000 4,07,000 4,07,000 4,07,000 Rights preferences and restrictions attaching to class of share capital ii). In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. ii). In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. ii). In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. ii). In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. Shares in company held by holding company or ultimate holding company or by its subsidiaries or associates [Abstract] Shares in company held by holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0 Shares in company held by ultimate holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0 Shares in company held by subsidiaries of its holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0 Shares in company held by subsidiaries of its ultimate holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0 Shares in company held by associates of its holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0 Shares in company held by associates of its ultimate holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0 Total shares in company held by holding company or ultimate holding company or by its subsidiaries or associates [shares] 0 [shares] 0 [shares] 0 [shares] 0
  • 50. 50 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Shares reserved for issue under options and contracts or commitments for sale of shares or disinvestment [shares] 0 [shares] 0 [shares] 0 [shares] 0 Amount of shares reserved for issue under options and contracts or commitments for sale of shares or disinvestment 0 0 0 0 Aggregate number of fully paid-up shares issued pursuant to contracts without payment being received in cash during last five years [shares] 0 [shares] 0 [shares] 0 [shares] 0 Aggregate number of fully paid-up shares issued by way of bonus shares during last five years [shares] 0 [shares] 0 [shares] 0 [shares] 0 Aggregate number of shares bought back during last five years [shares] 0 [shares] 0 [shares] 0 [shares] 0 Original paid-up value of forfeited shares 0 0 0 0 Terms of securities convertible into equity/preference shares issued along with earliest date of conversion in descending order starting from farthest such date [TextBlock] - - - Textual information (32) [See below] Details of application money received for allotment of securities and due for refund and interest accrued thereon [Abstract] Application money received for allotment of securities and due for refund and interest accrued thereon [Abstract] Application money received for allotment of securities and due for refund, principal 0 0 0 0 Application money received for allotment of securities and due for refund, interest accrued 0 0 0 0 Total application money received for allotment of securities and due for refund and interest accrued thereon 0 0 0 0 Number of shares proposed to be issued [shares] 0 [shares] 0 [shares] 0 [shares] 0 Share premium for shares to be allotted 0 0 0 0
  • 51. 51 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Disclosure of classes of share capital [Table] ..(2) Unless otherwise specified, all monetary values are in INR Classes of share capital [Axis] Equity shares 1 [Member] Equity shares 2 [Member] 01/04/2020 to 31/03/2021 01/04/2019 to 31/03/2020 01/04/2020 to 31/03/2021 01/04/2019 to 31/03/2020 Disclosure of classes of share capital [Abstract] Disclosure of classes of share capital [LineItems] Type of share Equity Equity Equity Equity Number of shares authorised [shares] 94,50,000 [shares] 94,50,000 [shares] 20,000 [shares] 20,000 Value of shares authorised 9,45,00,000 9,45,00,000 2,00,000 2,00,000 Number of shares issued [shares] 40,700 [shares] 40,700 [shares] 0 [shares] 0 Value of shares issued 4,07,000 4,07,000 0 0 Number of shares subscribed and fully paid [shares] 40,700 [shares] 40,700 [shares] 0 [shares] 0 Value of shares subscribed and fully paid 4,07,000 4,07,000 0 0 Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0 [shares] 0 Value of shares subscribed but not fully paid 0 0 0 0 Total number of shares subscribed [shares] 40,700 [shares] 40,700 [shares] 0 [shares] 0 Total value of shares subscribed 4,07,000 4,07,000 0 0 Value of shares paid-up [Abstract] Number of shares paid-up [shares] 40,700 [shares] 40,700 [shares] 0 [shares] 0 Value of shares called 4,07,000 4,07,000 0 0 Calls unpaid [Abstract] Calls unpaid by directors and officers [Abstract] Calls unpaid by directors 0 0 0 0 Calls unpaid by officers 0 0 0 0 Total calls unpaid by directors and officers 0 0 0 0 Calls unpaid by others 0 0 0 0 Total calls unpaid 0 0 0 0 Forfeited shares 0 0 0 0 Forfeited shares reissued 0 0 0 0 Value of shares paid-up 4,07,000 4,07,000 0 0 Par value per share [INR/shares] 10 [INR/shares] 10 [INR/shares] 10 [INR/shares] 10 Amount per share called in case shares not fully called [INR/shares] 0 [INR/shares] 0 [INR/shares] 0 [INR/shares] 0 Reconciliation of number of shares outstanding [Abstract] Changes in number of shares outstanding [Abstract] Increase in number of shares outstanding [Abstract] Number of shares issued in public offering [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued as bonus shares [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued as rights [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued in private placement arising out of conversion of debentures preference shares during period [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued in other private placement [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued as preferential allotment arising out of conversion of debentures preference shares during period [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued as other preferential allotment [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares allotted for contracts without payment received in cash [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued under scheme of amalgamation [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of other issues of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares issued under employee stock option plan [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of other issue of shares arising out of conversion of securities [shares] 0 [shares] 0 [shares] 0 [shares] 0
  • 52. 52 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Total aggregate number of shares issued during period [shares] 0 [shares] 0 [shares] 0 [shares] 0 Decrease in number of shares during period [Abstract] Number of shares bought back [shares] 0 [shares] 0 [shares] 0 [shares] 0 Other decrease in number of shares [shares] 0 [shares] 0 [shares] 0 [shares] 0 Total decrease in number of shares during period [shares] 0 [shares] 0 [shares] 0 [shares] 0 Total increase (decrease) in number of shares outstanding [shares] 0 [shares] 0 [shares] 0 [shares] 0 Number of shares outstanding at end of period [shares] 40,700 [shares] 40,700 [shares] 0 [shares] 0 Reconciliation of value of shares outstanding [Abstract] Changes in share capital [Abstract] Increase in share capital during period [Abstract] Amount of public issue during period 0 0 0 0 Amount of bonus issue during period 0 0 0 0 Amount of rights issue during period 0 0 0 0 Amount of private placement issue arising out of conversion of debentures preference shares during period 0 0 0 0 Amount of other private placement issue during period 0 0 0 0 Amount of preferential allotment issue arising out of conversion of debentures preference shares during period 0 0 0 0 Amount of other preferential allotment issue during period 0 0 0 0 Amount of issue allotted for contracts without payment received in cash during period 0 0 0 0 Amount of issue under scheme of amalgamation during period 0 0 0 0 Amount of other issues during period 0 0 0 0 Amount of employee stock option plan issued during period 0 0 0 0 Amount of other issue arising out of conversion of securities during period 0 0 0 0 Total aggregate amount of increase in share capital during period 0 0 0 0 Decrease in share capital during period [Abstract] Decrease in amount of shares bought back 0 0 0 0 Other decrease in amount of shares 0 0 0 0 Total decrease in share capital during period 0 0 0 0 Total increase (decrease) in share capital 0 0 0 0 Share capital at end of period 4,07,000 4,07,000 0 0 Rights preferences and restrictions attaching to class of share capital ii). In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. ii). In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. Shares in company held by holding company or ultimate holding company or by its subsidiaries or associates [Abstract] Shares in company held by holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0 Shares in company held by ultimate holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0 Shares in company held by subsidiaries of its holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0 Shares in company held by subsidiaries of its ultimate holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0 Shares in company held by associates of its holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0 Shares in company held by associates of its ultimate holding company [shares] 0 [shares] 0 [shares] 0 [shares] 0
  • 53. 53 MILESTONE TRADELINKS PRIVATE LIMITED Standalone Financial Statements for period 01/04/2020 to 31/03/2021 Total shares in company held by holding company or ultimate holding company or by its subsidiaries or associates [shares] 0 [shares] 0 [shares] 0 [shares] 0 Shares reserved for issue under options and contracts or commitments for sale of shares or disinvestment [shares] 0 [shares] 0 [shares] 0 [shares] 0 Amount of shares reserved for issue under options and contracts or commitments for sale of shares or disinvestment 0 0 0 0 Aggregate number of fully paid-up shares issued pursuant to contracts without payment being received in cash during last five years [shares] 0 [shares] 0 [shares] 0 [shares] 0 Aggregate number of fully paid-up shares issued by way of bonus shares during last five years [shares] 0 [shares] 0 [shares] 0 [shares] 0 Aggregate number of shares bought back during last five years [shares] 0 [shares] 0 [shares] 0 [shares] 0 Original paid-up value of forfeited shares 0 0 0 0 Terms of securities convertible into equity/preference shares issued along with earliest date of conversion in descending order starting from farthest such date [TextBlock] Textual information (33) [See below] Textual information (34) [See below] 20,000 (31st March 2020 : 20,000) Unclassified Shares of Rs. 10/- each Details of application money received for allotment of securities and due for refund and interest accrued thereon [Abstract] Application money received for allotment of securities and due for refund and interest accrued thereon [Abstract] Application money received for allotment of securities and due for refund, principal 0 0 0 0 Application money received for allotment of securities and due for refund, interest accrued 0 0 0 0 Total application money received for allotment of securities and due for refund and interest accrued thereon 0 0 0 0 Number of shares proposed to be issued [shares] 0 [shares] 0 [shares] 0 [shares] 0 Share premium for shares to be allotted 0 0 0 0