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BSE Code : | NSE Symbol : | ISIN:| SECTOR : |

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Volume 280564

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Key Stats

MARKET CAP (RS CR) 57.73
P/E 5.83
BOOK VALUE (RS) 23.8246269
DIV (%) 0
MARKET LOT 1
EPS (TTM) 9.24
PRICE/BOOK 2.26026624576438
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%)
4

News & Announcements

23-Oct-2020

Faze Three Autofab Ltd - Clarification sought from Faze Three Autofab Ltd

15-Oct-2020

Faze Three Autofab Ltd - Compliance Certificate Pursuant To Reg. 7(3) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.

14-Oct-2020

Faze Three Autofab Ltd - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

13-Oct-2020

Faze Three Autofab Ltd - Statement Of Investor Complaints For The Quarter Ended September 2020

08-Sep-2020

Faze Three Autofab to convene board meeting

07-Sep-2020

Faze Three Autofab AGM scheduled

29-May-2020

Faze Three Autofab announces board meeting date

18-Jan-2020

Faze Three Autofab to announce Quarterly Result

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

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Consolidated
 

Peers Comparsion

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Adhunik Yarns Ltd 514452
AKC Synthetics Ltd 514039
Alok Industries Ltd 521070 ALOKINDS
Amar Polyesters Ltd (Wound-up) 514270
Ambika Silk Mills Co Ltd 503723
Anjani Synthetics Ltd 531223
Ankit Yarns Ltd 514262
Arex Industries Ltd 526851
Arhat Industries Ltd 523812
Arihant Industries Ltd 503897 ARIHANTIND
Aryan Finefab Ltd (Wound Up) 514134 ARYAFINFAB
Ashok Fashions Ltd (Wound-up) 523718
AYM Syntex Ltd 508933 AYMSYNTEX
Bahuma Polytex Ltd 514256
Bala Techno Industries Ltd 514199
Banswara Textile Mills Ltd(merged) 502722
Baroda Dyeing Ltd 526359
Betex India Ltd 512477
Binayaka Tex Processors Ltd 523054
Bindal Textile Mills Ltd 514026
Blue Blends (India) Ltd 502761 BLUEBLENDS
Bluechip Tex Industries Ltd 506981
Bombay Dyeing & Manufacturing Company Ltd 500020 BOMDYEING
Bombay Silk Mills Ltd (Wound-Up) 503728
Bonanza Industries Ltd 523133
BSL Ltd 514045 BSL
Deccan Polypacks Ltd 531989
Delta Polysters Ltd 530311
Deora Polytex Ltd 512427
Dhanlaxmi Fabrics Ltd 521151
Donear Industries Ltd 512519 DONEAR
E-Land Apparel Ltd 532820 ELAND
Emtex Industries (India) Ltd 521099 EMTEXIND
Enkay TexoFood Inds. (Merged) 514154 ENKTEXFOOD
Enkay Texofood Industries Ltd 514254
Essjay Synthetics Ltd 514466
Evergreen Textiles Ltd 514060
Everlon Synthetics Ltd 514358
Fairdeal Filaments Ltd(Merged) 514474
Faze Three Ltd 530079 FAZETHREE
Flora Textiles Ltd 530705
Ganesha Ecosphere Ltd 514167 GANECOS
Garden Silk Mills Ltd 500155 GARDENSILK
Garlon Polyfab Industries Ltd 514306
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Haryana Texprints (Overseas) Ltd 514296
Hitesh Textile Mills Ltd 531284
Hytone Texstyles Ltd 514258
India Polyspin Ltd 514490
Indian Polyfins Ltd 514292
Indo Rama Textiles Ltd(merged) 532501 INDORAMTEX
Indus Fila Ltd 532821 INDUSFILA
Integral Knit Company Ltd 514298
Jai Bharat Synthetics Ltd 531239
Jaihind Synthetics Ltd 514312
Jattashankar Industries Ltd 514318
Jaybharat Fabrics Mills Ltd 507924
Jaybharat Textiles & Real Estate Ltd 512233
Kamadgiri Fashion Ltd 514322
Kamaldeep Synthetic Ltd 514416
Kapil Cotex Ltd 512036
Karan Fibres & Fabrics Ltd 521090
Kashiram Pannalal Industries Ltd 523321
Kayel Syntex Ltd 514228
Kaypee Mantex Ltd (Merged) 514226
Khator Fibre & Fabrics Ltd 521127
Konark Synthetic Ltd 514128
Krimpex Synthetics Ltd 514078
Krishna Synthetics Ltd 514404
Krystal Poly-Fab Ltd 523688
Krystal Knitwear Ltd 531393
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Libra Filaments Ltd 514205
Lohia Polyester Ltd 514203
Lorenzini Apparels Ltd 540952
LS Industries Ltd 514446
Madalsa International Ltd 514173
Mahaganesh Texpro Ltd 521139
Mahendra Petrochemicals Ltd 514160 MAHENDSUIT
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Maruti Cottex Ltd 531425
Maruti Syntex (India) Ltd (Wound-up) 514201
Matushree Textiles Ltd 503001
Mazda Fabric Processors Ltd 531763
Mazda Textile Industries Ltd 514103
Minaxi Textiles Ltd 531456
Mohit Industries Ltd 531453 MOHITIND
Mrinal Dyeing & Mfg Co Ltd 500291 MARINALDYE
Mrinal Texturising Industries Ltd 523037
Mukund Syntex Ltd 514364
Nahar Fabrics Ltd 40386
Nakoda Ltd 521030 NAKODA
Nevtia Spinners Ltd 531511
Nisha Synthetics Ltd 514126
Nufab Industries Ltd 514207
Nutech Global Ltd 531304
Oasis Textiles Ltd 514114
Omnitex Industries (India) Ltd 514324
Orbit Exports Ltd 512626 ORBTEXP
Orbit Polyester Ltd 531342
Orient Fabritex Ltd 514362
Orton Synthetics Ltd 514408 ORTONSYNTH
Overseas Synthetics Ltd 514330
Oxford Industries Ltd 514414
Parmeshwari Silk Mills Ltd 540467
Paro Syntex Ltd 514352
Patodia Textile Industries (Merged) 521042
Patodia Textile Industries Ltd 514310
Peeti Securities Ltd 531352
Pradip Overseas Ltd 533178 PRADIP
Prashant India Ltd 519014
Premco Global Ltd 530331
Premier Synthetics Ltd 509835
Prism Mills Ltd 521115
Pushpsons Industries Ltd 531562
R K Suitings Ltd 531757
Raghuvir Synthetics Ltd 514316
Raj Rayon Industries Ltd 530699 RAJRAYON
Rajasthan Polyesters Ltd 514073
Rajkamal Synthetics Ltd 514028
Ramgopal Polytex Ltd 514223 RAMGOPOLY
Ranjan Polysters Ltd 40467
Rishab Special Yarns Ltd 514177
Ritesh Polyesters Ltd 531057
RSC International Ltd 530179
RSL Textiles (India) Ltd 532463
S.Kumars Nationwide Ltd 514304 SKUMARSYNF
Sajjan Textiles Mills Ltd 521107
Sanrhea Technical Textile Ltd 514280
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Santowin Corporation Ltd 512465
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Satnam Exports (India) Ltd (Wound Up) 523760
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Sheetal Filaments Ltd 514398
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Shree Bhavya Fabrics Ltd 521131
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Shree Vaishnavi Dyeing & Printings Ltd 521202
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Siddhartha Spinfab Ltd 521204
Silkon Silk Mills (Exports) Ltd 514244
Simco Industries Ltd 526099
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Sonu Synthetics Ltd 512491
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TTL Enterprises Ltd 514236
Tuni Textile Mills Ltd 531411
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Valson Industries Ltd 530459
Veena Textiles Ltd 521028
Ventura Textiles Ltd 516098
Vijay Textiles Ltd 530151
Vinny Overseas Ltd 535118 VINNY
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VTM Ltd 532893 VTMLTD
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Share Holding

Category No. of shares Percentage
Total Foreign 0 0.00
Total Institutions 300 0.00
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 0 0.00
Total Promoters 8014201 74.74
Total Public & others 2708706 25.27
Total 10723207 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Faze Three Autofab Ltd

AUNDE India Limited (AFTAL), formerly AUNDE Faze Three Limited, is an India-based company. The Company is engaged in the manufacture of autofabrics. The Company operates in Technofabrics with specialization in auto-fabrics. It offers a range of products, which includes textile fabrics impregnated, coated laminated, woven fabrics and other fabrics. The Company is a joint venture collaboration between Faze Three and Aunde Achter & Ebels Gmbh (Germany). The Company has tie ups with AUNDE Italy and AUNDE Brazil for manufacturing of auto fabrics to cater international markets. The Company's clients include Ford, General Motors, Mahindra and Mahindra, Maruti Udyog, Volvo and Hyundai Motors. The Company has its manufacturing unit at Dadra, Union Territory of Dadra and Nagar Haveli. AUNDE India Limited was incorporated in the year 1997. Upon Hiving Off of the Autofabric division in the year 2000, shareholders of Faze Three Limited were allotted 3 fully paid equity shares of Rs 10/- each of AUNDE Faze Three Limited for every 2 Equity Shares of Rs 10/- each held in Faze Three Limited. The Company has its presence all over the country The Company has its state of the art manufacturing unit at Dadra, Union Territory of Dadra & Nagar Haveli. The Corporate Office of the Company is situated in Mumbai. The Marketing Offices are Delhi and Chennai.

Faze Three Autofab Ltd Chairman Speech

Faze Three Autofab Ltd Company History

AUNDE India Limited (AFTAL), formerly AUNDE Faze Three Limited, is an India-based company. The Company is engaged in the manufacture of autofabrics. The Company operates in Technofabrics with specialization in auto-fabrics. It offers a range of products, which includes textile fabrics impregnated, coated laminated, woven fabrics and other fabrics. The Company is a joint venture collaboration between Faze Three and Aunde Achter & Ebels Gmbh (Germany). The Company has tie ups with AUNDE Italy and AUNDE Brazil for manufacturing of auto fabrics to cater international markets. The Company's clients include Ford, General Motors, Mahindra and Mahindra, Maruti Udyog, Volvo and Hyundai Motors. The Company has its manufacturing unit at Dadra, Union Territory of Dadra and Nagar Haveli. AUNDE India Limited was incorporated in the year 1997. Upon Hiving Off of the Autofabric division in the year 2000, shareholders of Faze Three Limited were allotted 3 fully paid equity shares of Rs 10/- each of AUNDE Faze Three Limited for every 2 Equity Shares of Rs 10/- each held in Faze Three Limited. The Company has its presence all over the country The Company has its state of the art manufacturing unit at Dadra, Union Territory of Dadra & Nagar Haveli. The Corporate Office of the Company is situated in Mumbai. The Marketing Offices are Delhi and Chennai.

Faze Three Autofab Ltd Directors Reports

To,

The Members of

AUNDE FAZE THREE

Autofab Limited

Your Directors are pleased to present the 22nd Annual Report of your Company containing the business performance and the Audited Financial Statements for the year ended on 31st March 2019.

1. FINANCIAL HIGHLIGHTS (Rs. In Lacs)
Particulars For the year ended 31.03.2019 For the year ended 31.03.2018
Revenue from operations 14148.26 12782.14
Expenses (14596.32) (13769.46)
Other Income 8.18 18.69
Profit before Interest, Tax, Depreciation & Amortization, finance cost and exceptional items (439.97) (968.63)
Less:
Finance Cost/ Interest 481.13 437.71
Depreciation & amortization expenses 441.00 420.20
Profit / (Loss) before taxation (1362.01) (1826.53)
Less : Provision for taxation (230.00) 0.00
Profit / (Loss) for the year carried to Balance Sheet (1132.01) (1826.53)

2. KEY HIGHLIGHTS OF THE FINANCIAL PERFORMANCE

During the year under review, the Company has earned revenue from operations of Rs. 14148.26 lacs as against Rs. 12782.14 lacs in the previous year. The Company incurred Net Loss of Rs. 1132.01 Lacs as against Net Loss of Rs. 1826.53 Lacs.

3. CHANGE IN THE NATURE OF THE BUSINESS

There were no changes in the nature of business during the year under review as prescribed in Rule 8 of the Companies (Accounts) Rules, 2014.

4. DIVIDEND

Due to financial losses, your Board of Directors has not recommended any dividend for the Financial Year. In terms of the provisions of Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, there is no unpaid / unclaimed dividend which are pending to be transferred during the year to the Investor Education and Protection Fund.

5. RESERVES:

The Company has not transferred any amount to reserves in current financial year.

6. DETAILS OF SUBSIDIARY/JOINT VENTURE/ASSOCIATE:

Aunde Achter & Ebels GmbH, Germany is the Promoter / JV partner of the Company and is holding 42.82% shares of the Company. There are no other Companies which have become or ceased to be its subsidiaries, JV or associate during the year.

7. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS:

The particulars of loans, guarantees and investments covered under Section 186 of the Companies Act, 2013 form a part of the Notes to Financial Statements provided in this Annual Report.

8. DEPOSITS:

During the year under review, your company has not accepted any deposit from the public falling within the ambit of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014, or under Chapter V of the Companies Act, 2013.

9. MATERIAL CHANGES AND COMMITMENT AFFECTING FINANCIAL POSITION OF THE COMPANY:

There are no material changes and commitments, affecting the financial position of the Company which has occurred between the end of the financial year of the Company i.e. March 31, 2019 and the date of the Directors' report.

10. DIRECTORS & KMP:

During the year under review there were no changes in Directorship & KMP's of the Company.

Mr. Ajay Anand (DIN: 00373248) who was appointed as Managing Director of the Company w.e.f. 1st April, 2014 for a period of 5 years at 17th Annual General Meeting of the Company. The present term of Mr. Ajay Anand expired on 31st March, 2019.

The Board, based on recommendation of the Nomination and Remuneration Committee and subject to approval of the Members have approved re-appointment of Mr. Ajay Anand as Managing Directors of the Company for further period of 3 years w.e.f. 1st April, 2019.

11. DETAILS OF BOARD MEETINGS:

The Board of Directors of your Company met 7 (Seven) times during the Financial Year ended 31stMarch, 2019. The details of Board Meetings and the attendance of the Directors thereat are provided in the Corporate Governance Report. The intervening time gap between two consecutive Meetings was within the period prescribed under the Companies Act, 2013.

12. DIRECTORS' RESPONSIBILITY STATEMENT:

To the best of their knowledge and belief according to the information and explanations obtained by them, Board of Directors of the Company makes the following statements in terms of Section 134(3)(c) of the Companies Act, 2013:

(i) that in the preparation of the Annual Financial Statements for the year ended March 31, 2019, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

(ii) that such accounting policies as mentioned in Notes to Financial Statements have been selected and applied consistently and made judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2019 and of the loss of the Company for the year ended on that date;

(iii) that proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(iv) that the Annual Financial Statements have been prepared on a going concern basis;

(v) that the proper internal financial controls were in place and that the financial controls were adequate and were operating effectively;

(vi) that systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively.

13. ANNUAL PERFORMANCE EVALUATION OF BOARD:

Pursuant to the provisions of the Companies Act, 2013, and the corporate governance requirements as prescribed by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations 2015 (‘SEBI Listing Regulations'); the Board of Directors has carried out an annual evaluation of its own performance as a Board, the directors individually as well as the evaluation of the working of its Audit, Nomination & Remuneration and Compliance Committees.

The performance of the board was evaluated by the board after taking into consideration inputs received from the Directors, covering various aspects of the Board's functioning such as adequacy of the composition of the Board and its Committees, Board culture, execution and performance of specific duties, obligations and governance, effectiveness of board processes, information and functioning, etc. as provided by the Guidance Note on Board Evaluation issued by the Securities and Exchange Board of India on January 5, 2017.

A separate exercise was carried out to evaluate the performance of individual Directors including the Chairman of the Board, who were evaluated on parameters such as level of engagement, the contribution of the individual director to the board and committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings, independence of judgment, safeguarding the interest of the Company and its minority shareholders etc.

The performance of the committees was evaluated by the board after seeking inputs from the committee members on the basis of criteria such as the composition of committees, effectiveness of committee meetings, etc.

In a separate meeting of independent directors, performance of non-independent directors and the board as a whole was evaluated, taking into account the views of executive directors and non-executive directors. The same was discussed in the board meeting that followed the meeting of the independent directors, at which the performance of the board, its committees, and individual directors was also discussed. Performance evaluation of independent directors was done by the entire board, excluding the independent director being evaluated.

14. DECLARATION FROM INDEPENDENT DIRECTORS:

The Company has received necessary declaration from each Independent Director under Section 149(7) of the Companies Act, 2013, that he / she meets the criteria of independence laid down in Section 149(6) of the Companies Act, 2013 and Regulation 25 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

15. FAMILIARIZATION PROGRAMME FOR THE INDEPENDENT DIRECTORS:

Pursuant to the SEBI regulations, the company has worked out a Familiarization Programme for the independent Directors, with a view to familiarize them with their role, rights and responsibilities in the Company, nature of Industry in which the company operates, business model of the Company, etc.

The policy for Familiarization Programme for the Independent Directors is available on the website of the company at http://aundeindia.com/aunde/investor/files/AUNDEIndependentdirectorfamiliarisation programme.pdf

16. DISCLOSURE RELATING TO REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL AND

PARTICULARS OF EMPLOYEES:

As required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended from time to time, details of Remuneration to Directors and Key Managerial Personnel is provided in Form MGT-9 annexed to this Report.

The Company has no employee who- (i) if employed throughout the financial year, was in receipt of remuneration, in aggregate, more than Rs 102 Lacs, or (ii) If employed for part of the financial year, was in receipt of remuneration, in aggregate, more than Rs 8.50 Lacs per month. Hence, the information required to be given pursuant to the provisions of Section 197(12) of the Companies Act, 2013 read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended from time to time, is not applicable to the Company.

Details as required under the provisions of section 197(12) of the Companies Act, 2013, read with rule 5(2) and 5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, which form part of the Directors' Report, will be made available to any shareholder on request, as per provisions of section 136(1) of the said Act.

17. CORPORATE GOVERNANCE AND SHAREHOLDERS INFORMATION:

In compliance with the Regulation 34 read with Schedule V of the Listing Obligations and Disclosure Requirements) Regulations, 2015 A separate section on Corporate Governance is included in the Annual Report and the Certificate from the Company's auditors confirming the compliance of conditions on Corporate Governance as stipulated in SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed to this report as Annexure I.

18. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

For the financial year under review as stipulated in SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Management Discussion and Analysis Report is Annexed to this report as Annexure II.

19. CONTRACTS / ARRANGEMENTS WITH RELATED PARTY TRANSACTIONS:

All transactions entered into with related party during the financial year as defined under Section 188(3) of the Companies Act, 2013 and Regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 were in the ordinary course of business and on Arm's Length Price basis and do not attract the provisions of Section 188 of the Companies Act, 2013. There were no materially significant transactions with related parties during the financial year which were in conflict with the interest of the Company.

All Related party Transactions are approved by Audit Committee. Prior omnibus approval is obtained from the Audit Committee in respect of the transactions which are repetitive in nature. The transactions entered into pursuant to omnibus approval so granted are reviewed on a quarterly basis by the Audit Committee.

Suitable disclosure as required by the Indian Accounting Standards (Ind AS 24) has been made in the notes to the Financial Statements. The Company has proposed to take approval of shareholders regarding related party transactions propose to be enter into with related parties in next financial year through Ordinary Resolution.

The policy on Related Party Transactions as approved by the Board is available on the website of the company. The same can be accessed on http://aundeindia.com/aunde/investor/files/RelatedPartyTransactions PolicyAunde.pdf

20. TRANSACTIONS WITH RELATED PARTIES:

None of the transactions with related parties falls under the scope of section 188(1) of the Act. Information on transactions with related parties pursuant to section 134(3)(h) of the Act read with rule 8(2) of the Companies(Accounts) Rules, 2014 are given as Annexure III in Form AOC-2 to this report.

21. POLICIES OF THE COMPANY:

The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") mandated the formulation of certain policies for all listed companies. All our Corporate Governance Policies are available on the Company's website, viz., www.aundeindia.com. The Policies are reviewed periodically by the Board and its Committees and are updated based on the need and new compliance requirement.

The key policies that have been adopted by the Company are as follows:

Related Party Transactions Policy This Policy is deals with (a) the materiality thresholds for related party transactions and; (b) the manner of dealing with the transactions between the Company and its related parties based on the Act, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and any other laws and regulations as may be applicable to the Company.
Nomination & Remuneration Policy Your Company has framed Nomination & Remuneration Policy as per the provisions of the Companies Act, 2013 and SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 for recommendation to the Board of Directors regarding the appointment, removal and remuneration of the directors, key managerial personnel and other employees. It also lay down the evaluation criteria for performance evaluation of Board, its Committees and individual directors.
Whistle Blower Policy / Vigil Mechanism Your Company has a Vigil Mechanism / Whistle Blower Policy which provides adequate safeguards against victimization of persons who use such mechanism and make provision for direct access to Mr. Vinit Rathod, Chairman of the Audit Committee, in appropriate or exceptional cases.
Code of Conduct for Insider Trading This Policy sets up an appropriate mechanism to curb Insider Trading. It provides Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information.
Materiality Policy This Policy applies to disclosures of material events affecting the Company. This Policy warrants disclosure to investors and has been framed in compliance with the requirements of the Listing Regulations.
Document Retention and Archival Policy The purpose of this Policy is to specify the type of document(s) and time period for preservation thereof based on the classification mentioned under Regulation 9 of the Listing Regulations. This Policy covers all business records of the Company, including written, printed and recorded matter and electronic forms of records.
Prevention of Sexual Harassment Policy The Policy intends to provide protection against sexual harassment of women at workplace and the prevention and redressal of complaints of sexual harassment and matters related to it.
The policy applies to all categories of employees of the Company, including permanent management and workmen, temporaries, trainees and associates on contract at its workplace or at client sites.

22. DICSLOSURE AS PER SEXUAL HARRASMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITION AND REDRESSAL) ACT, 2013:

The Company has in place a Prevention of Sexual Harassment Policy and an Internal Complaints Committee as per the requirements of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The Company has not received any complaint during the year.

23. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION ETC. & FOREIGN EXCHANGE EARNINGS AND OUTGOINGS:

The information as required under Section 134(3)(m) of The Companies Act, 2013 read with Rule 8(3) of The Companies (Accounts) Rules, 2014 with respect to conservation of energy, technology absorption and foreign exchange earnings is Annexed to this report as Annexure IV.

24. INTERNAL FINANCIAL CONTROLS AND THEIR ADEQUACY:

The Company's management is responsible for establishing and maintaining an adequate system of internal financial control over financial reporting. The Company has in place adequate systems of internal control commensurate with its size and the nature of its operations. These have been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information, complying with applicable statutes, safeguarding assets from unauthorized use or losses, excluding transaction with proper authorization and ensuring compliance of corporate policies. Your Company remains committed to improve the effectiveness of internal control systems for business processes with regard to its operations, financial reporting and compliance with applicable laws and regulations.

25. INDIAN ACCOUNTING STANDARD (IND AS)

The Indian Accounting Standards (IND AS) were notified by the Ministry of Corporate Affairs on February 16, 2015. the Company has adopted all the Ind AS standards Effective April 1, 2016, and the adoption was carried out in accordance with Ind AS 101 'First time Adoption of Indian Accounting Standards, with April 1, 2017 as the transition date. The transition was carried out from Indian Accounting Principles generally accepted in India as prescribed under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 (IGAAP) which was the previous GAAP

26. SIGNIFICANT MATERIAL ORDER PASSED BY COURTS:

There are no significant material orders passed by the Regulators/ Courts which would impact the going concern status of the Company and its future operations.

27. RISK MANAGEMENT POLICY:

The Company has framed a Risk management policy which was approved by the Board pursuant to the requirement of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. There is a continuous process for identifying, evaluating and managing significant risks faced through a risk management process designed to identify the key risks faced by the Company. Risks would include significant weakening in demand from core-end markets, inflation uncertainties and any adverse regulatory developments etc. During the period a risk analysis and assessment was conducted and no major risks were noticed.

28. CORPORATE SOCIAL RESPONSIBILITY STATEMENT (CSR):

The company is not required to comply with section 135 of the Companies Act, 2013 along with rules made in this behalf as the Company does not fulfill any criteria provided under Sub-section 1 of Section 135 of the Companies Act, 2013.

29. STATUTORY AUDITORS:

In terms of the provisions of Section 139(2) of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014, the Member of the Company has approved appointment of M/s. Thakur Vaidyanath Aiyar & Co., Chartered Accountants, Mumbai (Firm Rgn. No. 000038N) as the Statutory Auditors for a term of 5 (five) years, to hold office from till the conclusion of 25th (Twenty Fifth) AGM.

30. FRAUD REPORTED BY THE AUDITOR, IF ANY

There is no fraud reported by the Statutory Auditor.

31. COST AUDIT:

Cost Audit is not applicable for the financial year 2018-19.

32. SECRETARIAL AUDIT:

Pursuant to the provisions of Section 204 of Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s. Sanjay Dholakia & Associates, Practicing Company Secretaries to undertake Secretarial Audit. The Report is annexed to this Report as Annexure V.

33. OBSERVATIONS – AUDITOR & SECRETARIAL AUDITOR:

Secretarial Auditor: As, mentioned in the Report, the part of promoters holding was not in dematerialized form throughout the year as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. However same has been converted to dematerialization form and entire Promoters holding is under demat form as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Statutory Auditor: there are no observation remarks in statutory auditors report.

34. EXTRACT OF ANNUAL RETURN:

The extract of Annual Return in Form No. MGT -9, as provided under sub-section (3) of Section 92 of the Companies Act, 2013, annexed herewith the Boards' report as Annexure VI.

35. ACKNOWLEDGMENT:

Your Directors wish to place on record their appreciation for the co-operation extended by all the employees, Bankers, Financial Institutions, various State and Central Government authorities and Stakeholders.

On behalf of the Board of Directors

Ajay Anand

Chairman & Managing Director

Place : Mumbai

Date: 30thMay, 2019

   

Faze Three Autofab Ltd Company Background

Ajay AnandAjay Anand
Incorporation Year1997
Registered OfficePlot No 146 Waghdhara Village,
Dadra & Nagar Haveli,Union Territory-396193
Telephone91-260-2668539,Managing Director
Fax91-260-2668501
Company SecretaryAkram Sati
AuditorThakur Vaidyanath Aiyar & Co
Face Value10
Market Lot1
ListingBSE,
Registrar

Faze Three Autofab Ltd Company Management

Director NameDirector DesignationYear
Ajay Anand Chairman & Managing Director 2019
Vinit Rathod Addtnl Independent Director 2019
Akram Sati Company Secretary 2019
Manan Shah Independent Director 2019
Rashmi Anand Director 2019

Faze Three Autofab Ltd Listing Information

Faze Three Autofab Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sales NA 000141.0992
Other Operating Income NA 0000.3834
Fabrics-Automotive Mtr0000
Other NA 0000

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