Page 147 - BCML AR 2019-20

BALRAMPUR CHINI MILLS LIMITED

c) The Sugar (Control) Order, 1966; least seven days in advance, and a system exists for seeking and
obtaining further information and clarifications on the agenda
d) The Levy Sugar Price Equalisation Fund Act, 1976; [as items before the meeting and for meaningful participation at
intimated by the Company not applicable during the year the meeting.
under audit];
c) None of the directors in any meeting dissented on any
e) The Food Safety And Standards Act, 2006 and Rules and
Regulations made there under; resolution and hence there was no instance of recording any
dissenting member’s view in the minutes.
f) The Agricultural and Processed Food Products Export Act, We further report that there are adequate systems and processes
1986; [as intimated by the Company not applicable during in the Company commensurate with the size and operations of the
the year under audit];
Company to monitor and ensure compliance with applicable laws,
g) The Export (Quality Control and Inspection) Act, 1963; [as rules, regulations and guidelines.
intimated by the Company not applicable during the year We further report that during the audit period the Company has
under audit];
bought back 84,38,327 equity shares at a price of H175/- per Equity
h) The Essential Commodities Act,1955; share in compliance with the provisions of the Act, the SEBI Buyback
Regulations and the Listing Regulations.
i) The Legal Metrology Act, 2009
We further report that during the audit period the shareholders
We have also examined compliance with the applicable clauses
of the Secretarial Standards issued by The Institute of Company of the Company have passed a special resolution with respect to
Secretaries of India. payment of commission to the Non-Executive Directors of the
Company upto 1% per annum of the net profits of the Company
During the period under review, the Company has complied with or H1,25,00,000/- in aggregate, plus applicable taxes, whichever is
the provisions of the Act, Rules, Regulations, Guidelines, Standards, lower, in any financial year, w.e.f. the financial year commencing
etc. mentioned above. from 1st April, 2019.

We further report that: We further report that during the audit period the Company had
applied for voluntary delisting of its equity shares from The Calcutta
a) The Board of Directors of the Company is duly constituted with Stock Exchange Limited (CSE) under Regulation 6(a) of the Securities
proper balance of Executive Directors, Non-Executive Directors and Exchange Board of India (Delisting of Equity Shares) Regulations,
and Independent Directors. The changes in the composition of 2009, as amended, in November, 2019. The said application, for
the Board of Directors that took place during the period under voluntary delisting has been approved by CSE vide its letter dated
review were carried out in compliance with the provisions of 20th December, 2019, w.e.f. 23rd December, 2019.
the Act and the Listing Regulations.
This report is to be read with our letter of even date which is annexed
b) Adequate notice is given to all directors to schedule the Board as Annexure - I which forms an integral part of this report.
Meetings, agenda and detailed notes on agenda were sent at

For MKB & Associates
Company Secretaries
Sd/-
Manoj Kumar Banthia
(Partner)
ACS no. 11470
COP no. 7596
Date: 23rd June, 2020 FRN: P2010WB042700
Place: Kolkata UDIN: A011470B000368849

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