Arohan Annual Report FY 20-21

DETAILSOF FRAUDSREPORTEDBYTHEAUDITORS During the year under review, the Auditors of the Company have not reported any fraud as required under Section 143(12) of the Companies Act 2013. COMPLIANCE WITH SECRETARIAL STANDARDS The Company has in place proper systems to ensure compliance with the provisions of the applicable secretarial standards issued by The Institute of Company Secretaries of India and such systems are adequate and operating effectively. CORPORATE INSOLVENCY RESOLUTIONPROCESS INITIATED UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 (IBC) During the year, no applications were filed against the Company by any financial or operational creditors. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS Details of Loans and Investments covered under the provisions of the Section 186 of the Companies Act, 2013 are provided in Note to the Financial Statements, and further the Company has not provided any guarantee under Section 186. RELATED PARTY TRANSACTIONS All transactions entered into with Related Parties as defined under the Companies Act 2013 and during the year under review were in the ordinary course of business and at an arm’s length pricing basis and do not attract the provisions of Section 188 of the Companies Act 2013. The details of the transactions with related parties, if any, are placed before the Audit Committee from time to time. Details of the related party transactions, which are exempted according to a proviso to Section 188 of the Companies Act 2013, during FY 2020-21 are disclosed in note of the financial statements. The policy on Related Party Transaction, as approved by the Board, is displayed on the website of the Company at https://www.arohan. in/resources/2019-08-23-14-30-20-Related%20 Party%20Transaction%20Policy.pdf. AMOUNT TRANSFERREDTOSTATUTORYRESERVES During the year under review the Company have incurred losses and accordingly no amount has been transferred to Statutory Reserve as required (20% of Profit after tax) under Section 45-IC of RBI Act, 1934. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE 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, 2021 and the date of the Directors’ Report. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO UNDER SECTION 134(3)(m) OF THE COMPANIES ACT, 2013 The provisions of Section 134(3) (m) of the Companies Act 2013 relating to conservation of energy and technology absorption do not apply to the Company. The Company has, however, used information technology extensively in its operations. During the year under review, the Company’s earning in foreign exchange was INR 27.36 Lakhs. The details of foreign earnings have also been captured in note of the Financial Statements. ANNUAL EVALUATION OF THE BOARD The Board pursuant to the provisions of Section 178 of the Companies Act 2013, the Nomination and Remuneration Committee (NRC) has carried out evaluation of individual Director’s performance. In this regard the NRC hadmet on June 4, 2021 to carry out the above mentioned evaluation. The director’s evaluation was carried out electronically through Diligent Software in a secured environment. The directors were allowed to carry out the evaluation in diligent software with their respective secured log in. A detail report on the director’s performance evaluation as generated from diligent software, was placed before the Board and Committee in their meeting dated June 04, 2021. TheMembers of theNRC reviewed the performance of all the individual Directors of the Company in accordance with the relevant sections of the Companies Act 2013. The Committee agreed that Annual Report | 2020-2021 86